As skepticism over AI stocks mounts, Executive Chairman Jon Hirtle shared his perspective on BNN Bloomberg, suggesting that the near-term fervor felt overblown even if AI is transformative over the long term. He added, “Investing is always about buying future cash streams at the most attractive rate.” Today that leads us to defensive growth companies with recurring revenues – names like Visa, MasterCard, and Waste Management. We are also leaning into European equities which have been beaten down despite signs that the economy and earnings are improving.

To hear more about our latest thinking, watch the full interview.