The Value of Large Cap Tech

There's a lot of confusion about buying short term treasuries and why there's value in it. We're buying long term munis now figure 4% tax free yield because if the economy slows or if the market goes down, those bonds are going to go up in value. A lot of the one in alphabet has been predicated on revenue and earnings that may at some point come as a result of all of their AI initiatives. It's a very long time horizon for AI to truly become a fundamental driver when you look at a cash flow statement.