No. of Recommendations: 3
In 1999 if you were an internet stock, you boomed, and if you weren’t, no one was interested. Much the same applies today to AI.
For me it's been harder to find value than in 1999, when general disdain for "old economy" stocks meant that a lot of them got left for dead. Back then I remember buying small moaty industrials with ROEs in the 20s at 10x real earnings. Now they're at a P/E of 20. I'm not saying there are no value opportunities in the U.S. market, it just feels like the whole market is bloated, across sectors (real estate and construction possibly excepted). International -- the UK, Europe generally, eastern Europe in particular -- seem to be target-richer environments for value, with the additional advantage that you can avoid or distribute some of the risks that come with the, um, new regime in the U.S.
