Prof G Markets

Why the AI Bubble Hasn’t Popped — ft. Josh Brown

246 snips
Jan 9, 2026
In this discussion, Josh Brown, the insightful co-founder and CEO of Ritholtz, shares his expertise on market dynamics and the future landscape of investing. He argues that market corrections can benefit young investors by allowing them to buy at better prices. Brown explores the enduring impact of AI on profits and the necessity of fundamentals over speculative narratives. He emphasizes the importance of monitoring key companies like Palantir and Amazon to gauge AI's return on investment and highlights how changing workflows make AI adoption inevitable.
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INSIGHT

Follow What Prices Actually Do

  • Market prices mattered more than loud bubble narratives during the AI sell-off in late 2025.
  • Josh Brown argues price action showed real-money investors didn't capitulate to the doom chorus.
INSIGHT

Private AI Firms Warp Public Narratives

  • OpenAI is a MacGuffin in the public narrative because its share price isn't tradable.
  • Josh Brown warns private AI giants can drive narratives without giving public markets a clear price signal.
INSIGHT

Earnings Growth, Not Hysteria, Justifies Multiples

  • Wall Street consensus expects very strong tech earnings growth in 2026 that can justify higher market multiples.
  • Josh Brown believes consensus ~15% S&P earnings growth would support current valuations if delivered.
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