Is AI getting ahead of itself? Jon Hirtle weighed in on BNN Bloomberg’s The Open, saying the hype over AI and Nvidia appears to be waning: “Paying such a high multiple for what amounts to a hardware company seems illogical.”

While we believe in the long-term transformative power of AI, we want to pay reasonable prices for real future cash flows. In today’s market, we favor defensive growth companies like Moody’s, Visa, Mastercard and Waste Management with strong earnings growth and more attractive valuations vs. the most expensive tech names.

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