The Knowledge Project

Anthony Scilipoti: The Bubble No One is Talking About

926 snips
Oct 28, 2025
Guest
Anthony Scilipoti
In this insightful conversation, forensic accountant Anthony Scilipoti sheds light on the dangers of the current AI bubble, drawing parallels to past tech collapses like Nortel and Valeant. He discusses the limits of audits, the perils of low-risk pricing, and why seemingly minor accounting details can become critical. Scilipoti emphasizes the importance of human judgment in an AI-driven world and shares his top investing rules. It’s a compelling reflection on seeing beyond the hype and understanding the hidden risks in the market.
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INSIGHT

AI Gives Information, Not Insight

  • AI speeds retrieval but doesn't replace expert judgment linking facts across statements.
  • Anthony Scilipoti warns AI gives information, not the insight needed to make decisions.
INSIGHT

Cheap Risk Means Hidden Vulnerability

  • Low market risk prices signal high systemic vulnerability according to credit spreads and VIX.
  • Scilipoti sees tight high-yield spreads and benign VIX as signs risk is underpriced.
ANECDOTE

Nortel Report Launched Veritas

  • Veritas began after a sell report on Nortel in 2000 that few believed at the time.
  • Anthony Scilipoti recounts how that report launched their independent research firm.
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