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In my article for Firstlinks, I explore whether the extraordinary investment boom in artificial intelligence (AI) could ultimately end in financial pain for investors, even if the technology itself transforms society. History shows that revolutionary technologies can deliver enormous benefits while destroying the capital of those who overpaid to build them. With Big Tech committing hundreds of billions of dollars to AI infrastructure, costs rising, competitive moats weakening and the price of intelligence rapidly falling, the pressure to generate adequate returns is mounting. As cash flows come under strain and the AI trade begins to unwind, investors are left with a critical question: can the hyperscalers generate enough profit to justify the scale of spending, or is the AI boom following a familiar historical path?

You can read the article here: Firstlinks – Will AI destroy investor capital? 

by Roger Montgomery Posted in On the Internet.

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With interest rates, inflation and broader economic uncertainty continuing to influence Australia’s property market, what lies ahead for property prices and investors?

In this episode of The Propertybuyer Podcast I joined host Rich Harvey to discuss the outlook for Australia’s property market and the factors that could shape its future direction. The conversation explores the changing economic environment and what investors should consider when navigating market uncertainty, with a focus on the forces influencing property markets and long-term investment decisions.

by Roger Montgomery Posted in Podcast Channel, Property.

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Ed Yardeni just published his latest research note titled “Is AI useless?”

Now, to be fair, questioning whether trillion-dollar hyperscalers, NVIDIA and Frontier Labs, are collectively making an AI-powered mistake is clearly motivated by a little attention-seeking, but AI leaders are facing real challenges. Continue…

by Roger Montgomery Posted in Market commentary, Technology & Telecommunications.

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In my latest article for The Australian, I examine the growing tax burden on Australian businesses and individuals, and the implications for investment, productivity and economic growth. With government revenue and spending continuing to rise, I argue that sustainable prosperity depends on encouraging private enterprise, rewarding innovation and supporting wealth creation, rather than relying on higher taxation and redistribution.

Download the article here: Labor is taxing the goose that lays the golden egg Continue…

by Roger Montgomery Posted in Economics, In the Press.

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In my latest article for The Australian, I explore why government bonds are becoming increasingly attractive after more than a decade of low yields and market volatility. I examine the forces driving U.S. Treasury yields, including economic growth, interest rate expectations and demand for safe assets, and explain why a slowing economy could create opportunities for bond investors through both income and potential capital gains, while presenting challenges for equity markets.

Download the article here: Bonds were down and out – now they could beat stocks Continue…

by Roger Montgomery Posted in Economics, Editor's Pick, Global markets, In the Press, Insightful Insights, Investing Education, Market commentary.

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I previously reported on Matt Stoller’s incisive insights into the abuse of monopoly power. Last week he reported on U.S. delivery company DoorDash’s proposed US$17 billion takeover of grocery channel operator Instacart.

While the business press is largely treating this transaction as a routine play for market dominance in food and grocery delivery, Stoller argues that the merger represents something far more fundamental. In his view, the real story isn’t just app-based delivery; it’s an ongoing effort by major tech platforms to dismantle the classic employer-employee framework that defined 20th-century life. Continue…

by Roger Montgomery Posted in Companies, Market commentary.

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I notice the Community and Public Service Sector Union (CPSU) representing 200,000 of our handsomely paid Commonwealth bureaucrats have rejected a three-year 9 per cent offer and instead have countered with a 15 per cent increase, in addition to many new conditions including a four-day working week trial, more annual leave and safeguards against artificial intelligence (AI) driven job losses. Continue…

by David Buckland Posted in Market commentary.

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