This report, authored by Ben Inker and the GMO Asset Allocation team, examines whether today’s AI-driven market surge represents a bubble and how investors can position effectively.
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Valuations of U.S. large-cap and AI-linked stocks resemble the 2000 Internet Bubble, while many global value and non-U.S. equities remain attractively priced.
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A diversified portfolio emphasizing deep value, non-U.S. small caps, and liquid alternatives offers competitive expected returns in both bubble and non-bubble scenarios.
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Current conditions allow risk-asset exposure without relying on AI winners, contrasting sharply with the 2007–08 and 2021 bubbles.
Explore the full report to evaluate the strategic implications for portfolio construction in today’s AI-driven market environment.
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