Quote of the day by Edward Thorp: “Hoaxes, frauds, manias, and other large-scale financial irrationalities have been with us from the beginnings of the markets in the seventeenth century, long before the Internet.”

Financial markets, despite perceptions of rationality, have historically succumbed to waves of greed and fear, from Tulip Mania to meme stocks. Edward Thorp’s insights confirm that human emotions, not just technology, drive speculative bubbles. Understanding this recurring cycle of irrationality and focusing on fundamentals, diversification, and independent thinking are crucial for long-term investors to avoid…

The $1 trillion AI ‘arms race’ is fueling a hidden supercycle and it’s not just chips

DBS Bank says the global AI arms race is driving a multi-year capex supercycle extending beyond semiconductors into energy, networking, infrastructure and data centres. The bank expects AI spending, sovereign AI investments and rising power demand to create new investment opportunities while reshaping portfolio allocation amid persistent inflation and geopolitical risks.