AI Productivity Is Real. 83% of Stocks Are 10% Off Highs. Why Does Barry Ritholtz Like Bonds Again?

<p>Barry Ritholtz, Dave Nadig and Matt Zeigler explore why AI's real productivity gains don't automatically translate into an investing edge. From stock picking and market concentration to the financing behind the AI buildout, they separate enthusiasm for the technology from the economics of owning it.</p><p><a href="https://open.spotify.com/show/0u1fxie4C4vHXIJPUMhvUs" rel="ugc noopener noreferrer" target="_blank">Subscribe to Click Beta on Spotify⁠⁠⁠</a></p><p><a href="https://podcasts.apple.com/us/podcast/the-data-you-trust-is-broken-what-aggregate-economic/id1793929457?i=1000750185243" rel="ugc noopener noreferrer" target="_blank">⁠⁠⁠Subscribe to Click Beta on Apple Podcasts</a></p><p>In this episode of Click Beta, Barry Ritholtz and Dave Nadig join Matt Zeigler for a conversation about where AI is already changing their work and where investors should ask harder questions. Barry shares how his team uses AI to analyze portfolio drift and identify clients who may need a rebalance. The discussion also covers client relationships, consumer pricing, creative side projects, and why Barry is increasingly enthusiastic about bonds without calling an end to the equity bull market.</p><p>Topics covered:</p><ul><li>Why widely available AI tools may improve research without creating a lasting stock-picking advantage</li><li>Market breadth, mega-cap concentration, and the potential impact of large tech IPOs</li><li>Data center financing, credit quality, and the risk of rapid technological change</li><li>Barry Ritholtz's use of AI to analyze allocation drift, taxes, and household circumstances</li><li>How better meeting records can strengthen the human side of financial advice</li><li>Learning to collaborate with AI and asking better questions</li><li>The debate over dynamic pricing, consumer data, and whose interests AI agents serve</li><li>Baseball tools, astronomy dashboards, music discovery, and the joy of experimenting</li><li>Deciding which tasks to automate and which activities are worth doing yourself</li><li>Barry Ritholtz's case for bonds, municipal income, and avoiding the reach for yield</li></ul><p>Find our guests:</p><p>Barry Ritholtz — The Big Picture - <a href="https://ritholtz.com/" rel="ugc noopener noreferrer" target="_blank">https://ritholtz.com</a><br />Ritholtz Wealth Management - <a href="https://www.ritholtzwealth.com/" rel="ugc noopener noreferrer" target="_blank">https://www.ritholtzwealth.com</a><br />Barry Ritholtz on X - <a href="https:/