Fund manager who beat 99% of his peers in the past 5 years warns stocks face ‘destruction’ as enthusiasm for AI stocks boosts valuations to dot-com bubble levels

The S&P 500 is up 24% from its October lows. But almost all of the index returns since January can be attributed to a few stocks. Bill Smead says it probably signals problems for the index finger once the “mania” ends. If you’ve been sitting on the sidelines of this gathering, you might be tempted … Read more