Ford is an AI Company Now

The report argues that the current AI boom is a bubble mirroring the late-1990s dot-com era, specifically the 1998 stage. It highlights speculative behavior in stocks like Ford and extreme momentum in the Nasdaq as indicators of this cycle.

Key Takeaways

• 1.The current AI market cycle is drawing strong parallels to the 1995-2000 internet bubble, specifically mimicking the 'May 1998' phase.
• 2.Speculative excess is reaching extreme levels, exemplified by Ford being re-rated as an AI play and massive inflows into memory ETFs.
• 3.Momentum indicators like 'Dirty Sharpe' are at record highs, signaling extreme complacency and a lack of market drawdowns.

Table of Contents

• May 1998 or February 2000?
• Are we in a bubble?
• Wild
• Can you find the A & the I in Ford?
• Dirty Sharpe
• That indicator
• Hindenburg, perhaps
• 0 FCF is now ok
• Holding on for that last blow-off top?
• A lot more blow-off top ahead

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