AI optimists are behaving like the investors who got burned in the Great Depression and dot-com bubble, Vanguard's chief economist warns
Briefly

"Today, signs of investor restraint are once again difficult to find. U.S. stock prices are roughly 45% above what is considered their fair-value trading range."
"Overvaluations are not confined to one or two sectors. Tremendously expensive AI-related shares combine with optimistic pricing in most other market segments, leaving the U.S. stock market more overvalued than at any time since early 2001."
Read at Fortune
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