AMI Asset Management Investment Perspective

In this episode, the team discusses the growing concern that artificial intelligence tools like Anthropic’s "Cowork" could render traditional enterprise software models obsolete. The team explores the "build vs. buy" economic reality for businesses, using a Golden Gate Bridge analogy to illustrate why the hidden costs of software maintenance, security, and hosting often outweig...

In this episode, the team discusses the major takeaways fromtwo of the year’s most influential investor events: the J.P. Morgan Healthcare Conference and the ICR Consumer Conference. The team analyzes the shifting landscape of high-cap pharma M&A, the commercial launch of anti obesitypills from Novo Nordisk and Eli Lilly, and the rise of targeted "rifle shot" cancer treatments. Turni...

In this episode, the team discusses the massive geo political and economic implications of the recent U.S. military operation in Venezuela and the capture of Nicolás Maduro. The team analyzes how this shift impacts global oil reserves and heavy crude refining while identifying specific energy and service companies positioned to benefit from a potential infrastructure rebuild. They also explore the...

In this episode, the team discusses the groundbreaking $6billion nuclear fusion merger between Trump Media and TAE Technologies and the impact of geopolitical shifts, such as the potential Ukraine peace deal and Venezuelan blockades, on global oil prices. They analyze the resilience of the labor market through industrial earnings from companies like Cintas and examine a consumer landscape defined...

In this episode, the team discusses the Federal Reserve’srate cut and the subsequent injection of short-term liquidity, alongside the evolving dynamics of the AI trade where investors are shifting focus from pure infrastructure spending to companies demonstrating real returns on capital. This shift is evident in the pressure on tech firms with high capital expenditure and the strategic move by com...

In this episode, the team discusses recent economic data,including a weak ADP jobs number concentrated in small businesses and mixed signals from manufacturing and services Purchasing Managers' Indices. They analyze the high probability of a Federal Reserve rate cut next week, driven by soft economic indicators. The discussion also covers a massive Netflix acquisition of Warner Bros. Studios a...

In this episode, the team discusses a wave of newly releasedeconomic data following the government reopening, including a surprisingly strong September jobs report and historically weak consumer confidence readings. They explore what the lack of October inflation data means for theFed, how layoffs and falling oil prices fit into an increasingly uneven economic backdrop, and where early signs of se...

In this episode, the team discusses the latest market and economic developments, including partial disruptions in economic data following the recent government shutdown and the potential impact on GDP. They break down key moves in the tech sector, from data center execution risks to the ongoing AI infrastructure build-out, and examine how investor sentiment is shifting across high-growth stocks. T...

In this episode, the team discusses the latest market and economic developments, including the impacts of the longest government shutdown on airlines, consumer sentiment, and employment data. They explore healthcare news, particularly the evolving pricing and accessibility of anti-obesity medications and potential effects on the food industry. The conversation then shifts to the AI sector, coverin...

In this episode, the team discusses the Federal Reserve’s latest rate cut and Chair Powell’s cautious comments that tempered expectations for further easing. They examine the disconnect between official labor data and signs of corporate layoffs, before shifting to company updates, including strong results from Eli Lilly, Alphabet, Amazon, and Apple, all highlighting differing facets of AI-driven g...

In this episode, the team discusses the latest economic indicators, including softer-than-expected inflation data and declining consumer sentiment that continue to shape expectations for upcoming rate cuts. They also examine growing stress in regional banks tied to subprime auto lending and commercial real estate exposures. The conversation shifts to major developments in AI, with Google emerging...

In this episode, the team discusses the recent flare-up of banking and credit market stresses, highlighting several high-profile fraud cases across regional banks, private credit funds, and specialty lenders. They examine whether these incidents are isolated or indicative of broader systemic risks, particularly as high-yield private credit products become increasingly marketed to retail investors....

In this episode, the team discusses a relatively quiet week for economic data due to government closures, while Federal Reserve minutes reaffirm expectations for one to two rate cuts later this year. The conversation quickly shifts to geopolitical risks, particularly renewed trade tensions following China’s restriction of rare earth metal exports and President Trump’s public response, which rattle...

In this episode, the team discusses the week’s major economic and market developments, starting with the government shutdown and its impact on payroll and employment data. They review key economic indicators, including ADP and JOLTS reports, ISM manufacturing and services data, and implications for the labor market. The conversation also covers significant moves in healthcare, AI advancements from...

In this episode, the team discusses the latest economic, sector, and market developments, including slightly elevated inflation, a stronger-than-expected Q2 GDP revision, and a rebound in new home sales. They review healthcare and drug sector updates, noting that large firms are generally positioned to manage renewed tariff and pricing pressures. The team also covers technology and AI, highlightin...

In this episode, the team discusses the latest economic and market developments, starting with the Fed’s recent rate cut and the mixed signals from its economic forecasts. They analyze trends in housing, consumer behavior, and retail sales, highlighting the bifurcated nature of the consumer economy. The team also covers key corporate and technology news, including NVIDIA’s investment in Intel, Goo...

In this episode, the team discusses the latest economic data, including surprising producer and consumer price index trends and a significant downward revision in job growth, highlighting mixed signals for the Fed’s policy path. They dive into major corporate updates, covering Apple’s new iPhone lineup, Oracle’s AI-driven earnings surge, and developments in Adobe and cloud infrastructure providers...

In this episode, the team discusses a weaker-than-expected jobs report, upcoming payroll revisions, and what the latest labor market trends mean for the broader economy. The conversation then shifts to technology, covering the DOJ’s ruling in Google’s antitrust case, strong earnings from Broadcom, Amazon’s chip strategy, and ongoing AI innovation. The team also examines OPEC’s production increases...

In this episode, the team discusses President Trump’s unprecedented attempt to remove Federal Reserve Governor Lisa Cook, the implications for central bank independence, and how markets have reacted across currencies and bonds. The conversation then turns to economic data, highlighting stronger GDP growth, resilient labor market trends, and shifts in consumer sentiment. The team also analyzes key...

The team breaks down Powell’s Jackson Hole remarks, with markets eyeing a September rate cut as the labor market shows signs of softening. They discuss the growing debate around AI, from overinvestment and unclear returns to Meta’s continued push for talent and infrastructure. Tech market rotations are also in focus, as investors weigh AI leaders against mixed results in software. The episode wrap...

In this episode, the team discusses recent CPI and PPI data,exploring what it could mean for upcoming Federal Reserve rate cuts. Theyhighlight steady retail sales but note weakening consumer confidence and jobmarket concerns. Discussion covers restaurant industry shifts, with valuechains outperforming premium brands. Technology updates include legal andmarket developments impacting Google, Apple,...

The team discusses growing economic concerns, including weak labor data revisions, rising delinquencies, and increasing odds of a Fed rate cut. The conversation also covers key developments in healthcare, highlighting Eli Lilly's GLP-1 drug updates, and tech earnings from companies like Shopify, AMD, and Snap. The episode explores the narrow market leadership dominated by AI-fueled megacaps and ra...

The AMI team discusses U.S. economic data, including stubbornly high inflation and a surprisingly weak jobs report, and the implications of this for the Federal Reserve. They also focus on the tech sector, specifically earnings reports of major companies like Amazon, Microsoft, and Apple, and discussing key trends in AI, capex, and M&A. Finally, the team provides perspective on how the economi...

In this episode, the team discusses a quiet week in economic data, the implications of a new U.S.–Japan trade deal featuring reduced tariffs and major investment commitments, and key consumer earnings from Tesla and Domino’s. They also cover a potential game-changing railroad merger between Union Pacific and Norfolk Southern. Finally, the team explores trends in the fixed income markets, including...