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As Agentic artificial intelligence (AI)’s threat to jobs spreads ever wider, the concept of Universal Basic Income (UBI) is shifting from theory to, frighteningly, a central pillar of Silicon Valley’s vision for our future.

Love him or hate him now, OpenAI’s Sam Altman was the first to publicly discuss a UBI, announcing in early 2016 that Y Combinator would fund a multi-year, large-scale UBI study to prepare for an automated future. Elon Musk followed later that year, saying in a CNBC interview that UBI is “going to be necessary” because “there will be fewer and fewer jobs that a robot cannot do better.” Continue…

by Roger Montgomery Posted in Global markets, Insightful Insights, Market commentary, Technology & Telecommunications.

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I joined Phil Clark on ABC Nightlife to discuss the Federal Government’s changes to capital gains tax (CGT) and negative gearing, and whether the reforms will improve housing affordability for younger Australians. We explored the potential impact on property investors, first-home buyers and housing supply, as well as the broader economic consequences of reducing incentives to invest. We also discussed the upcoming SpaceX IPO, concerns around its rapid inclusion in major indices, and why calm oil prices may be masking growing risks in global energy markets.

Listen here: ABC Nightlife Continue…

by Roger Montgomery Posted in Economics, Energy / Resources, Market commentary, Property, Radio.

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Corporate strategic pivots are common throughout history and particularly during market booms. Recall the mining companies that became internet companies during the internet bubble of 1999. Back then, merely adding “.com” to a company’s name saw its share price surge. 

In the 1920s, radio was the ‘Internet and artificial intelligence (AI)’ equivalent of its day. It was the first time an electronic buzzword could instantly inflate a company’s value, and between 1922 and 1929, sales of radio equipment in the U.S. jumped from US$60 million to over US$840 million. Investors were so hungry for radio exposure that any company adding the word to its name saw its stock soar. Continue…

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

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I joined Juliette Saly on Ausbiz today to discuss why global equity markets may be closer to a peak than many investors expect. We explored the historical link between oil-price spikes and weaker share markets, why even strong artificial intelligence (AI) –driven earnings growth may not protect valuations in a higher-rate environment, and how the excitement surrounding SpaceX is pushing many listed “proxy” space stocks into hyper-exponential territory untethered from fundamentals.

You can watch via Ausbiz here: Global equities may be closer to a peak than many investors expect

by Roger Montgomery Posted in Investing Education, Market commentary, Market Valuation, Technology & Telecommunications, TV Appearances.

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The 2026-27 Australian Federal Budget, handed down on May 12, 2026, fundamentally alters the economics of property flipping.

For decades, a tax system that rewarded capital growth over rental yield made the “buy, renovate, and flip” property model a popular way for middle-class investors with a bit of energy and an idea to get ahead.

However, Labor’s latest proposed tax reforms have gutted the high margins that once made short-term established property speculation rewarding. Continue…

by Rhodri Taylor Posted in Economics, Insightful Insights, Investing Education, Market commentary, Property.

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There’s a thesis many investors are now positioning for: The artificial intelligence (AI) infrastructure buildout being led by the hyperscalers can’t proceed without copper, silver, and other critical metals, such as scandium. Their conclusion is that commodity prices will rocket higher if the the A.I. revolution continues.

Current forecasts suggest the combined capital expenditure of Amazon, Google, Meta, and Microsoft will reach US$715 billion in 2026, up 98 per cent on 2025 and nearly three times their combined capital expenditure (capex) in 2024. Continue…

by Roger Montgomery Posted in Energy / Resources, Manufacturing, Market commentary, Technology & Telecommunications.

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Yikes! Did the U.S. Federal Reserve (Fed) just propose a material reduction in its balance sheet?

After the war is over, investors will revert to concentrating on earnings and other thematics again, and a recent Fed research paper may give investors something to worry about. Continue…

by Roger Montgomery Posted in Global markets, Market commentary.

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Worley Limited (ASX: WOR) has spent much of the past decade trying to redefine itself. Once known primarily as a traditional engineering contractor tied to cyclical project work, the company expanded aggressively into energy services through the acquisition of Jacobs’ ECR division in 2019, just before the world turned against fossil fuels. What followed was a difficult period marked by integration challenges, weak energy markets and a sharp de-rating as investors questioned both the strategy and the sustainability of earnings. Today, that same business is being viewed through a very different lens as the importance of energy and infrastructure are being highlighted by headlines and capital allocation. Continue…

by Sean Sequeira Posted in Companies, Editor's Pick, Energy / Resources, Market commentary, Market Valuation, Stocks We Like.

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In late March 2026, the ANZ Roy Morgan Australian Consumer Confidence Index hit the lowest level since the survey began in the early 1970s. 

Last week (5 April 2026), it rallied to the second worst week on record, as motorists received a $0.26 per litre reduction in the fuel excise.  And this week, I’m confident it will rally further on the back of the provisional ceasefire between the USA and Iran and the announcement of the reopening of the Strait of Hormuz. Continue…

by David Buckland Posted in Market commentary.

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Australia and the United States (U.S.) currently have one thing in common. 

Consumer confidence is in a world of pain. 

In the U.S., the Consumer Sentiment Index (CSI) has fallen to the lowest level ever recorded since the University of Michigan began tracking the data in 1952.

The Index, see Graph 1. and Table 1. below, hit 44.8 in May 2026, as Americans fear inflation, rising fuel costs, economic instability associated with the Iran War and the worry artificial intelligence (AI) will take white collar jobs.

When I look at the U.S. inflation rate – which was 3.8 per cent for the year to April 2026 – and the U.S. Federal Funds Rate at 3.75 per cent, I again point out a significant anomaly. Continue…

by David Buckland Posted in Economics, Global markets, Insightful Insights, Investing Education, Market commentary.

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