We’ve hit all time highs yet again and, me a technology idiot, enhances my productivity through automation. The two are not unrelated.
Markets are at all time highs but that’s not new
The Nasdaq and S&P 500 once again settle at all time highs after rising by 0.4% each overnight. The US markets hitting all time highs is attracting quite a few headlines, but if you’ve been following along, this is nothing new.
- S&P 500 = +0.41%
- Nasdaq = +0.43%
- Aussie dollar up 0.8% to 65.79 US cents
- Iron down 0.4% to $94.20 US a tonne
On average the market hits between 17 to 22 all time highs every single year. So why is it news?
It’s news because people click on it and it’s news because it’s happening in the face of such uncertainty. It’s also happening at a time where productivity is being unlocked through automation.
Embracing automation, increasing productivity
In a leaked internal memo, Meta Platforms Inc (NASDAQ: META) is continuing to throw more at AI. Hiring big names, making big investments to create its “super intelligence” team.
AI is a very clear trend that is here to stay. On a productivity front, just ask anyone who is using it first hand.
12 months ago I was talking with a developer who worked for a large listed ASX company, he was using AI to write repetitive, basic code speeding up his work and allowing him to focus on deeper thinking.
At the same time, I was trialling an AI chatbot from Intercom – the chat tool we use across all our sites – and back then it wasn’t something I could turn on with confidence. Fast forward twelve months and the improvements made are truly impressive. The improvements are vast and last week I set it live across the Rask sites.
Automation, creating your own personal flywheel
I have zero tech background, I’m truly a tech idiot but here I am freeing up a chunk of my time. And here’s the thing, I’ll use that time immediately to write more. This will feed into the AI chatbot’s catalogue and make it even smarter, handling more queries, freeing up more time, it’s like a personal flywheel and I am just one luddite.
Imagine what the smart people are actually doing!
If you’re looking for AI investment ideas Owen put together this great video for the Australian Finance Podcast. Never mind his get up…and handle bar moustache.
How he got away with this look in the comments section is beyond me. He makes one video from his Tesla on the road and the comments explode. He then wears a Newcastle Knights flanno looking like he just got out of Goulburn and it’s crickets.
Readings, listenings and viewings from the weekend
I was swamped with good content over the weekend. Here’s three of them:
Annie Duke on when to quit. Duke is a former poker player who’s done some amazing work around thinking, most notably her book Thinking in Bets. In this article she provides a framework around when to call it a day and move on to something else. Given the enhancements in productivity we’re likely to see in our day to day, how we allocate our time is going to become more and more important.
Owen interviews the Lakehouse team. When looking for an active manager you want someone who is actually going to do something different from the market. The Lakehouse guys do that. Additionally, we want to see real skin in the game, where they feel the effects of their decisions. That’s why it was great to hear they are meaningfully invested in their own funds and owners of the business. The examples used are great and how they break down their investable universe is fantastic. I had a stroll on Saturday afternoon and ducked in for a quick pint on Sydney Road whilst this was in my ears.
DOAC The speaking coach. This one was shared by James on our Rask Advice team. It’s a marathon and I am half way through it but it is fantastic, especially for anyone who regularly finds themselves in difficult conversations. I reflected on a lot of past conversations when dealing with executive teams and I wish this was available to me several years ago.
As always, please reach out to me if you’d like to chat. You can do so by using my fancy chatbot in the bottom right corner.
