The dow did go down. The nasdaq went down 4 or 5 . I spent the better part of this year studying the pandemic i was right. You know what we just cover . The professionals are not the only covid that matters. We have a Massive Group of investors who become professionals. They dont care about the same thing as the experts theyre the ones who were the marginal buyers and sellers. The investors have changed the entire character of the market what made you not be able to sleep at night it was very little belief in stocks for the past 20 years, the convention says stocks could no longer be trusted. They continue to lose their values way too quickly when something goes wrong on top of that, the convention only a fool to try to pick individual stocks. You may as well stop trying to beat the mark and put some of your money in an index fund and invest safely in bonds the last eight months, that convention has been stood on its head by a new generation of investors after the rise of Commission Fr
Complacent well debate that and your next money moves. Liz young is with us, and a tipper mcgee, Institutional Investment services group, and she is a new cnbc contributor. We will have the hazing ceremony, tiffany, in just a bit. Meanwhile, a check on the marks. Nasdaq against hitting new intraday highs, but the nasdaq doing a bit of a uturn, now down 28 points or about 0. 25 of this hour as some growth names like tesla and apple drop. Well talk about them in a little more detail steve weiss, id like to begin with you i read a very persuasive note that talked about reasons to stay invested. If you bet against this market, you are bankly shorting two things you are shorting the fed and you are shorting science, i. E. The hope that a vaccine will come along. You want to short those two . I dont think so steve . So, my observation that i sent to you this morning were that the markets momentum market, and if you disregard fundamentals, which the market is doing in large part, or at least
Forecast this morning. Meteorologist kari hall has been tracking warmer temperatures, also that wind which is a fire danger for a lot of us, a risk anyway. Yeah, even at my house over the weekend we had some smoke drifting by from a nearby wildfire. Weve seen the small fires popping up and so this will still be a concern especially in Solano County today. Lets head over to walnut creek with a live look outside as the sun rises this morning. We do have a cool start to the day. Weve had some Cool Temperatures especially for this time of year as we go into today its still going to be very nice as we see some spots reaching along the coastline were in the 60s and 70s. Ill talk about a spike in our temperatures and also the winds calming down coming up in the forecast. Mike, it may still be breezy for drivers heading across some of our bridges. L out for idge, richmond san chp. We dont major connector over there in between 880 and 680. Thats mission boulevard. You see slowing as you approac
Companies, the same companies that control the lions share of patterns, that have an extra amount of my comp that are able to attract the best talent because that the best food, you know, that have the relationships with universities and it doesnt mean there are not other Companies Like salesforce or nvidia uber that are not doing Amazing Things but its through these nine compass Everything Else flows. The entire ai ecosystem in some way or another patches of these nine. In addition to all of the things i just mentioned they also building the frameworks and the custom silicone chips and they have the code bases. All roads lead to these nine companies, and the challenge that i have is that if its the case that Artificial Intelligence is not just been built to create a better microwave, although thats cool, but instead to optimize our lives come using data as currency, what does it mean when we relegate that to just a handful of companies and handful of people working at these companies
Next on book tv, programs from our archives the focus on technology. Even watch them in their entirety by visiting our website booktv. Org. Use the search function at the top of the page. First of march 2019, nyu school of business professor amy webb, Artificial Intelligence and giving too much power to big corporations. My job is to lower risk for a living. I primarily focus on technology. Over and over i kept going back to the same Nine Companies pretty he sang companies, a controlling share patents. That have extraordinary amounts of money. Theyre able to attract the best talent because they have the best food. They have the relationships with the universities buried and does not mean that there arent other Companies Like salesforce or uber that are doing amazing things, but it is these are through the sign companies and Everything Else flows. The entire ai ecosystem in some way or another touches the sign. In addition to all of the things, there also building the frameworks in the