People are nervous about the AI trade, especially given that mega-cap tech and the Mag 7 underperformed practically everything in the month of July. In Q2, we started to see a broadening of earnings growth outside of tech in sectors such as financials and health care. “Investors are realizing that they don’t need to wait for the AI trade to work,” said Eric Lynch, managing director at Scharf Investments. He recently spoke with Doug Krizner on Bloomberg’s “Daybreak Asia” program and shared his thoughts on the convergence we’re seeing in earnings, as well as what Fed rate cuts and the US presidential election could mean for equities. You can hear Eric’s interview beginning at the 19:34 mark in the link below.

Go to Podcast

https://www.bloomberg.com/news/audio/2024-08-12/bloomberg-daybreak-asia-cautious-start-for-apac-trade-podcast?in_source=podcasts_7_play-episode