By the Time It’s in the News, It’s Too Late | Short Seller Laks Ganapathi By the time it's in the news, it's too late. Short seller Laks Ganapathi, whose new fund Michael Burry advises, says the AI selloff is just the beginning, and the real risk is in the debt, not the stocks. Ganapathi, founder of Unicus Research and Minerva Investment Management, joins Jeremy Szafron to explain what her team found driving across Texas to AI data centers, why a bank is selling $500 million of data center loans, why the bond market is flashing red on AI borrowers while stocks rally, and how private credit can end up inside the insurers behind retirees' annuities. She also explains why she only trusts physical gold, never paper #gold#.