Time To Cash In The Chips

2026-06-04 17:45:36 ET

Introduction

The markets are in an unprecedented trajectory. The relationships between economic variables and market fundamentals appear to be distorted, with many considering them unworthy of even a glance. A significant interest rate hike over the recent years had been insufficient to raise the opportunity cost of capital for allocating to equities. The P/E, whether absolute or adjusted, is close to all-time elevated levels. The importance of the technology sector, which is dominated by a handful of hyperscalers, with each in one way or the other basing their future trajectory on developments relating to AI, is at its highest....

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