Bankless Defensive Investing for an AI Bubble | Ruchir Sharma's Hedge Rules
24 snips
Nov 19, 2025 
Ruchir Sharma, investor and author known for his insights on global macro trends, explores the intertwining of U.S. dominance and AI's impact on growth. He discusses why the U.S.'s exceptionalism may be peaking, pointing toward a rebound in international markets. Ruchir emphasizes the importance of diversifying investments with exposure to quality stocks and emerging markets like India and China. He also warns about the potential risks of an AI bubble and gives a measured take on Bitcoin as a hedge amidst evolving economic landscapes.
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American Exceptionalism Has Peaked
- The 2010s were defined by US exceptionalism driven by tech and fast recovery from the GFC. Ruchir Sharma predicts that decade-long US dominance has peaked and international markets will reclaim ground.
America Is One Big Bet On AI
- AI is powering a large share of US growth and equity gains, creating a concentrated national bet. About 40% of growth and 80% of recent stock-market gains are tied to AI-related spending and plays, per Ruchir Sharma.
Markets Give AI The Benefit Of The Doubt
- The calm bond market and dollar resilience reflect an implicit bet that AI will boost productivity. That belief gives fiscal and policy leeway that may prove fragile if AI disappoints.
