The bull story behind the AI rally is that it rests on a potent mix of existing earnings and unprecedented future productivity gains. But are these really the driver of this year’s explosive inflows? And how great is the risk that the violent rotation afflicting first bitcoin and now gold spreads to the Mag 7 and semiconductors?

Join us next Wednesday 15 July to run through our Meaning, margins and momentum presentation, to talk through what a regime change might look like and how a Warshian Fed could hasten it, and to take your questions. A replay will be available afterwards if you can’t make it.

The webinar is open to clients with One-on-one or Group Webinar access, and to the press. Clients with Read-only access can see the original slides but not the full webinar.