PremiumAI Fatigue Meets Retail Fury: Goldman Partner Sees Markets Rotate Amid Volatility & CapEx Crunch
After six months of intensity, Goldman Sachs Partner (and macro trader) Bobby Molavi sees "fatigue" and a market pause with AI leadership digesting amid debates on CapEx ROI, IP risks (e.g., Nadella's "reverse information paradox" and Karp on data sovereignty), and rotation into Asia, small/mid-caps, energy, materials, and Europe.
Molavi notes that extreme volatility persists as tech ETFs show hundreds of large daily moves (with Kospi and semis swinging wildly) but short-lived shocks have quickly normalized, while equities rise alongside gold and yields.