Host @profgmarkets | Author Simply Put Inquiries: chris.wittine@caa.com
Joined June 2020
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Caught On Video: Jensen Huang Reportedly Had Second Affair - This Time With His Own Nvidia Executive zerohedge.com/ai/caught-vide…
Sex, spies, semis
What more could you want?
I had @edels0n join me on Better Offline this week to talk about the Anthropic IPO, the mid-terms, hauling fraudsters in front of congress, and Jensen Huang’s tryst with a Chinese spy.
youtube.com/watch?v=RCpgwpdv…
Many Democrats do not want to prosecute the president, which I get.
Trump and his family appeared to trade tens of thousands of stocks on insider information. When the SEC and CFTC investigated, he appeared to terminate the investigations.
If a regular person were found guilty of these charges, they’d face more than 50 years in prison. To not pursue justice for political reasons is its own form of lawfare.
Could this be the time to buy?
Nvidia Has Lost $1.5 Trillion — Is The Worst Still To Come?
Ed Elson (@edels0n) is joined by Gil Luria to take a look at Nvidia’s stock amid the Jensen Huang scandal and CoreWeave’s latest earnings.
Then Justin Wolfers returns to break down the latest inflation data and why it signals more rate hikes are on the way.
He also discusses whether the midterm results have changed his outlook on the economy.
Finally, Ed shares his take on Anthropic’s new valuation.
🔗's 1/2:
Youtube: youtube.com/@ProfGMarkets
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6 months ago, I predicted the Democrats would win the midterms in a “landslide.”
My thesis was simple: America had had it with President Trump, and this was its moment to rebuke him.
Last Tuesday, these predictions came true. Some call it a win for the Democrats; I call it a win for democracy.
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TX elected its first Democratic governor in nearly 40 years. KS elected its first Democratic senator in nearly 100 years. 94% of counties shifted left from 2024.
What we saw last Tuesday wasn't a blue wave — it was a blue tsunami.
However, the war isn't won. If Democrats are to take anything from me, let it be this: Now is not the time to be delicate — now is the time to fight.
After all, the next two years will define the next 10.
Find my full piece below.
Ed Elson retweeted
Nvidia (22x) is now trading at a lower price to earnings ratio than Procter & Gamble (25x)...
From my Oct 20 piece:
"What would happen to Anthropic’s valuation if it traded in the public markets? Answer: Its valuation would be cut in half. When we apply Nvidia’s current price-to-sales multiple to Anthropic, the AI lab’s valuation drops to $1.1 trillion. Do the same thing to OpenAI, and its valuation gets halved as well. When we examine the public vs. private markets divide, we learn that Anthropic and OpenAI have been fighting in a playpen of price discovery."
Anthropic's IPO price has been cut nearly in half. Here's an excerpt from my Oct 20 piece, explaining why this would happen:
"As private startups, OpenAI and Anthropic have their prices set by venture capitalists in Silicon Valley. Those people care about things like founder vision and tech talent. Meanwhile, the prices of public stocks such as Nvidia are set by investors on Wall Street. They care about things like margins and profits. These personality differences have led to vastly different prices. We don’t have an AI bubble — we have an AI startup bubble.
Once they enter the coliseum that is the public markets, Anthropic’s investors will find out what value truly means. Dario Amodei has considered this, I assure you. He knows that startup valuations are bullsh*t. He knows VCs live in a different reality. He’s built his company on a planet of polyannas who accept everything and question nothing. But he’s about to exit that world and enter a much harsher one. He knows this, and he’s nervous about it."
This story has every element of a blockbuster spy movie
Scandal At Nvidia: Is This The End For Jensen Huang?
Ed Elson (@edels0n) is joined by Ashley Gold to discuss how Washington may handle the news that Jensen Huang had an affair with an alleged Chinese spy.
Then, Robert Armstrong returns to break down the massive volatility in the markets since the election, and also give his take on the scandal at Nvidia.
Finally, Ed shares his take on the growing backlash against data centers.
🔗's 1/2:
Youtube: youtube.com/@ProfGMarkets
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Post-midterms mood swings are starting to level out
Why Stocks Had Their Best Day Of The Year — Then Their Worst
Scott Galloway (@profgalloway) and Ed Elson (@edels0n) break down what the shift in Congressional power could mean for the markets and the economy.
They discuss the market’s back-and-forth reaction to the election, what Democrats can realistically accomplish, why investors should pay attention to the backlash against data centers, and why a clear growth agenda will be critical.
🔗's 1/2:
Youtube: youtube.com/@ProfGMarkets
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The AI boom continues to be one of the most fascinating stories in the history of business
Breaking News: Nvidia opened an investigation into Jensen Huang, its CEO, after he acknowledged to the company’s board that he had been intimate with a business executive who U.S. intelligence determined to be a Chinese spy. nyti.ms/3ViPMAt
Nature is healing
“.. three major investors who plan to participate in the IPO say the valuation will likely need to come down, with one saying it could be closer to $1 trillion.”
@WSJ $ANT
wsj.com/finance/major-invest…
