AI Momentum to Continue Despite High Valuations; Broader Markets Fairly Valued, But Slower Growth Ahead
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Artificial intelligence (AI) stocks still have momentum despite high valuations, according to Global X's investment chief. He sees AI impact lasting for years.
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Don't sweat valuations overall - outside mega cap tech, stocks are fairly valued. Watch interest rates and economic growth closely.
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Expect slower economic growth in 2024. Mild recession is possible but impact may be limited.
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Interest rates are near peak but will likely stay higher for longer than markets expect.
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Top investment ideas AI, cloud computing, cybersecurity, small caps, emerging markets (esp. India), energy, infrastructure, MLPs, covered call strategies.