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Today’s Animal Spirits is brought to you by Nasdaq and Janus Henderson Investors:
This episode is sponsored by Nasdaq Global Index Solutions and their Blueprint of Tomorrow series. To learn more, visit https://www.nasdaq.com/campaign/global-indexes/blueprint-of-tomorrow/On today’s show, we discuss:
- I Asked ChatGPT to Manage a Stock Portfolio. Here’s How It Did.
- AI Is Distorting Practically Everything About the Economy
- AI isn’t coming for your job. It’s coming for your mind
- Customer Support & Dictation Loom Large As Voice Startup Leaders Prepare for a World of Talking Machines
- A Longer Life Can Lead to Financial Concerns, and More Questions
- The Great $110 Trillion Wealth Transfer Won’t Happen Any Time Soon
Listen here:
Charts:
Recommendations:
Tweets/Bluesky:
The S&P 500's P/E ratio has actually fallen this year during the rally pic.twitter.com/BmCAnmur4i
— Gunjan Banerji (@GunjanJS) May 10, 2026
Are we in a bubble? Is this 2000?
IMO, no and no.
Remember, these questions have been in the air for years now (excerpt from a March 2024 report)
Fiscal policy remains one of the most important macro differences
-In 2000 govt was running a 2% surplus
-Today the deficit is ~6% pic.twitter.com/QWqegOb5Yu— Warren Pies (@WarrenPies) May 11, 2026
Probably the craziest chart in markets right now pic.twitter.com/9HiBJp3c0n
— Daniel von Ahlen (@Daniel_VonAhlen) May 8, 2026
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