AI Is Making Alpha Scarcer and True Scarcity More Valuable
Passive assets: ~$15T
Active assets: ~$8T
Capital is moving.
As information becomes abundant and markets more efficient, stock-picking alpha gets competed away.
The edge is shifting from picking stocks to choosing what scarce assets to own.
$GOOGL.US $NVDAB
Passive assets: ~$15T
Active assets: ~$8T
Capital is moving.
As information becomes abundant and markets more efficient, stock-picking alpha gets competed away.
The edge is shifting from picking stocks to choosing what scarce assets to own.
$GOOGL.US $NVDAB