Brian Krawez on Reuters TV

May 28, 2024

Nvidia isn’t the only way for investors to get in on AI mania. “We think there are a lot of sneaky ways to play AI,” said Brian Krawez, president and lead portfolio manager at Scharf Investments. He recently appeared on Reuters TV’s “Market Insight” program and shared his thoughts on AI mania and how it is reminiscent of the tech bubble in 1999. More than 40% of the S&P 500 today is made up of tech and tech-like companies—more than at the peak of the tech bubble 25 years ago—so investors need to be wary of overexposure to the tech sector. With valuations in mega-cap tech names as high as they are now, we believe investors should look at other ways to get in on AI through companies such as Samsung and Oracle. Brian also shared his thoughts on recent retail earnings and consumer demand, and reiterated a key theme for 2024—the revenge of the average stock.

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