Checking in on the Funds
In recent weeks, markets have undergone a major rotation. The AI trade has been the talk of the town, but things change. The FTSE 100 is now ahead of the S&P 500 over the past year. Go Blighty.
FTSE versus S&P 500
Also, computer software is rebounding as hardware comes under pressure. It could well be the case that hardware bounces, but the advances in China seem to be undermining the economics of AI. Trillions of capital expenditure need a return, and the market is beginning to question that. In the meantime, software stocks are perking up, and I am on the lookout for an opportunity.
Hardware versus Software
It has barely shown up in the major indices, but feels like a major shift in markets. As a result, I felt it was a good time to check in on the funds: to see where they stand in the rotation.
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