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Ripple Effect

Why the Market’s Still Obsessed With AI

Loading ...Andrew Packer

May 16, 2025 • 1 minute, 3 second read

Why the Market’s Still Obsessed With AI

Make no mistake: The stock market peaked in February, following the news that China had released a new AI program.

DeepSeek isn’t just a ChatGPT clone. According to China, it was able to train the AI with substantially fewer resources.

That’s a huge breakthrough. And a sign of a global “Cold War” in AI development.

That potential escalation still looks some time off. For now, investors love AI because it’s a pure growth story, by any metric.

For instance, ChatGPT’s total users now exceed those of Wikipedia:

Turn Your Images On

I remember when Wikipedia first launched. Several of my college professors said it shouldn’t be used as it wasn’t reliable. I also remember going on Wikipedia, ignoring the article, and going straight to the footnotes that could be used and were reliable.

Today, AI models are best used similarly: to get the creative juices flowing and to run through some ideas, not do all the work and turn down the human capacity to think.

Be mindful, though. As the saying goes, today is the worst AI will ever be.

Times and technology change, and ChatGPT’s rise shows that its fast growth comes at the cost of disrupting other industries – and that there’s more growth ahead.

-Andrew

Gold: The Only Thing Standing Still

July 11, 2025 • Dominic Frisby

Since the US confiscation of Russian assets in 2022, pretty much every pull back to 50-day moving average (red line) has been bought, and they continue to be bought. The average is now flattening out, as you would expect with this summer consolidation, rather as it did late last year. Some sideways consolidation is good. Ideally, you want to see the short-, medium- and long-term moving averages all flatten and converge. There often follows a big move higher.

Gold: The Only Thing Standing Still
Households Get It, Even if Governments Don’t

July 11, 2025 • Addison Wiggin

We know many consumers continue to live paycheck to paycheck. After spiking higher, the drawdown in savings—cash that can be used in an emergency—is back to pre-pandemic levels.

While the overall debt picture is ugly, in some ways it isn’t – and that it may take some more time for a debt crisis to reach a kitchen countertop near you.

Households Get It, Even if Governments Don’t
The Rally That Didn’t Flinch

July 11, 2025 • Addison Wiggin

As we knock off for the week approaching mid-summer, it strikes us how hard it is to distinguish signal from noise. Markets defying gravity gives us pause.

Don’t buy in at elevated prices.

Keep your asset allocation in full view.

Buy cheap.

Sell dear.

It’s a funny old world, isn’t it?

AI is buying engineers like they’re first-round picks. The military is investing in rare earths like it’s the 1950s space race. Tariffs are flying, cocoa’s getting scarce, and your cereal may soon come with a luxury markup.

None of it, likely, concerns your portfolio.

The Rally That Didn’t Flinch
Matt Milner: Now You Can Buy SpaceX — Should You?

July 10, 2025 • Addison Wiggin

This new wave of tokenized shares is exciting. It has the potential to break down walls and democratize access to pre-IPO giants.

But at the moment, it’s also risky, opaque, and largely unregulated.

So while we applaud the innovation, we urge caution — especially if you’re being offered something that seems too good to be true.

Matt Milner: Now You Can Buy SpaceX — Should You?