Part 4/8:
A notable point of discussion is the influence of artificial intelligence (AI) on market valuations. The market appears to be pricing in a significant boom in earnings growth, projecting an average of 20% per year over the next five years. However, Rosenberg cautions that such projections are historically rare and typically unsustainable, echoing sentiments from the tech boom of the late 1990s. The conversation indicates skepticism about the overvaluation that may stem from unprecedented growth assumptions.