Earnings are growing FASTER than stock prices and ya'll still talking about a bubble? This is one of the ingredients of the EVERYTHING bull market Combine that with a rising ISM, cooling inflation and now Treasury intervention via buybacks and we have a recipe for MUCH HIGHER prices across the board The areas to invest in right now are: 1. The AI infrastructure layer is growing as demand for compute increases 2. The AI application layer is growing as token costs become cheaper and more use cases are unlocked 3. Less investible, but even the model layer is growing as more users adopt AI for more use cases 4. And finally, the debasement trade is back on the table as Treasury and eventually the Fed work together to maintain the bond market, bringing gold, bitcoin, crypto and the long tail of risk assets back into the party I think we finish this year MUCH higher than where we sit today The only assets that don't go up are the ones sitting outside both trades. If it isn't levered to AI and it isn't levered to debasement, it's going to feel like a bear market I prefer to allocate my portfolio across the layers mentioned above: Own the buildout, own the hard assets, and own the companies reinventing themselves with AI You can track my entire portoflio alongside 4 other top-tier analysts inside Milk Road PRO. We share our real-time portfolios, ongoing research and have a private community with 1000s of smart investors inside. At the end of today we are increasing the prices to join, but if you sign up now you can lock in current prices for life. Learn more here: Don't forget to give me a follow @kylereidhead for more insights on AI and markets