2025 - Fourth Quarter - Artificial Intelligence
In this world of rapid change and accelerating technological advancement, it is tempting for investors to buy into the latest tech companies so they can own the equivalent of Apple when it first traded in 1980. In this newsletter, in addition to reviewing the current market and economic environment, we will look at older innovations that revolutionized the world, from the automobile to the internet and the lessons investors learned along the way.
In this world of rapid change and accelerating technological advancement, it is tempting for investors to buy into the latest tech companies so they can own the equivalent of Apple when it first traded in 1980. In this newsletter, in addition to reviewing the current market and economic environment, we will look at older innovations that revolutionized the world, from the automobile to the internet and the lessons investors learned along the way.
Joshua Brown
December 30, 2025