Steve Cohen pedals optimism in his recent appearance; “I am making a prognostication-we’re going up,” said billionaire investor founder of Point72 Asset Management at a private SALT iConnections New York conference event held in May.
Siding with the bull Steve Cohen pedals optimism based on a big wave of opportunities spurred on by artificial intelligence
The digital and automation artificial intelligence revolution could be the next big investment leading to an upcoming bull market cycle.
Steve Cohen thinks investors are too fixated on a recession, and a downturn in the financial market, which could result in them overlooking big wave opportunities brought on by artificial intelligence.
“Steve Cohen thinks investors are too fixated on a recession”
WEALTH TRAINING COMPANY
Steve Cohen pedals optimism; “I’m pretty bullish,” he said.
Steve Cohen’s bullish forecast is based on businesses adopting cost-cutting technology to reduce overheads, which improves corporate profits.
Automation and AI enable businesses to produce more for less, and as productivity increases, prices come down.
Core Inflation is likely to come down as the ongoing cost of living crisis compels businesses to adopt cost-cutting technologies, which enables businesses to provide more for less to maintain profitability.
So in food production, distribution and retailing, labour-intensive costs are reduced with autonomous trackers on the farms, robotic farm workers, autonomous road trucks, and cashless automated self-service counters.
“Automation and AI enable businesses to produce more for less, and as productivity increases, prices come down”
WEALTH TRAINING COMPANY
Steve Cohen pedals optimism, a utopian vision where AI-driven machines are the ultimate worker, beavering away 24/7 to achieve maximum efficiency where production costs fall to near zero
Think of the mobile phone that started life the size of a brick, and you needed the service of a champion weightlifter to lug around the battery. The first mobile phone cost approximately 4,000 USD (14,000 USD in today’s money). So it was a status symbol, only available for the ultra-wealthy, and all you could do was make and receive calls.
So a mobile phone today is 97% (inflation-adjusted) less expensive than forty years ago with endless capabilities, from a jukebox, an entertainment system to a global library of knowledge, and making free domestic and international calls.
But walking the streets today, people are not euphoric. Instead, there is anxiety, worry and even anger.
“The public deficit will grow, and because there will be no taxes to collect, the democratic system will be replaced with totalitarianism”
– Wealth Training Company
Steve Cohen pedals optimism maybe for Wall Street but not for the main street
The second industrialisation, the mechanical muscle aiding the workforce, led to the largest middle class in history. The third revolution, the mechanical mind, could lead to a neo-feudal society, with the redundant working population at the mercy of the State for their basic needs. The public deficit will grow, and because there will be no taxes to collect, the democratic system will be replaced with totalitarianism. Shut up and obey or starve. Programmable central bank currency UBI is coming.
Mobile phones have become more affordable in the last forty years but at a significant cost. Debased central bank currency is visible in necessities; quality food, accommodation, education and health care.
Civil liberties have eroded since the 1977 Sex Pistols Fascist Regime to ban 2023 protests in the UK and France.
Steve Cohen pedals optimism, but he ignores the reality that AI will displace more workers than it creates, and without universal basic income, what will drive consumption?
