From the Desk of Anthony Pompliano NOT A BUBBLE! NVIDIA Earnings, Buffett Buying Google Proves It
4 snips
Nov 20, 2025 
Phil Rosen, co-founder and editor-in-chief of Opening Bell Daily, dives into the financial landscape, challenging the prevailing bubble narrative in AI. He presents compelling data showing why the current market is stronger than many believe, highlighting Berkshire Hathaway's recent investment in Google as a significant indicator. Discussing NVIDIA’s impressive growth, he emphasizes its crucial role in the AI sector and contrasts today’s tech valuations with the dot-com era, shedding light on the K-shaped consumer trend and Bitcoin's recent performance.
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Episode notes
Strong Bull Market Isn’t Dot‑Com Redux
- The S&P may log a rare third straight 20%+ year driven by tech strength and robust companies.
- Historical dot-com comparisons fail because current valuations and balance sheets are far healthier.
K‑Shaped Consumer Divergence
- The market shows a K‑shaped consumer split: discretionary stocks rise while staples lag.
- This reflects rising wealth and asset owners thriving while lower/middle incomes struggle.
Bitcoin’s YTD Weakness Masks Recent Run
- Bitcoin turned negative year‑to‑date despite strong pre‑year momentum and favorable macro tailwinds.
- Charts can mislead: short windows hide the earlier run to $69,000 last November.