PineBridge's Kelly: The AI revolution will drive the economy for the next decade

Michael Kelly, portfolio manager and global head of multi-asset at PineBridge Investments, says that the evolution boom in artificial intelligence is the kind of generational market event that only happens "once every 20 or 30 years." He says it will be "very meaningful and we believe very good not only for the economy but for the markets." He is optimistic that the increased productivity created by the AI revolution can help the economy grow its way out of the fiscal concerns over deficits and other issues that overhang the market. That said, he does see mild turbulence ahead, but without a major correction or downturn as the market winds through the rest of 2025. His advice for that turbulence: "Buckle up."

Paulo Costa, senior behavioral economist at Vanguard, discusses the firm's research into the emotional and time value of advice, which showed that the benefits of financial advice extend far beyond simply having expertise at the helm making investment choices.

Plus, Chuck answers a listener's question about the use of one or two popular funds to be an entire portfolio — a strategy particularly popular with members of the FIRE movement (Financial Independence, Retire Early) — and he examines the pros and cons of making simplicity the cornerstone of an investment portfolio.