Mark Moss warns that betting on an AI market crash could leave you underexposed if Wall Street keeps extending credit longer than expected. Larry Fink's recent signals suggest the rally might persist well beyond when bears predict it will break.
That's the risk I think investors are missing right now today, right? You can spend the next few years waiting for it to break, waiting for CapEx to slow, waiting for the funding wall, waiting for the crash. But if Wall Street keeps moving that wall further and further out, then you could spend those same years underexposed and sitting on the sidelines. Now, Wall Street can extend financing, but it can't make bad economics work forever. Eventually, the returns have to justify all this spending, but That's not the question today. The question today is, how much longer can this run? How much longer can it run before that limit actually matters? And after what Larry Fink just showed us, I think the answer could be much longer than the bears expect. So don't confuse these 2 ideas.
