PremiumDéjà Vu Bubble: AI Mania Cracks At 1929 Valuations As Oil Re-ignites & Everything Leverage Unwinds
"Here we are again..." says Goldman Sachs Partner (and top macro trader), Bobby Molavi in his latest ruminations (available in full here for pro subs)
Like a tired sequel to the same old market melodrama, Molavi says that investors are waking up to a potent sense of déjà vu: stratospheric AI valuations echoing the peaks of 1929 and 1999, a narrow tech-led rally showing unmistakable signs of exhaustion, and geopolitical embers in the Middle East threatening to flare into another oil shock.