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But we saved everything 🙂.
Michael Kao, CIO at Akadia Capital, reiterated his view that allowing Nvidia to sell to China was not a good idea. Kao noted that the best argument he has heard in favor of permitting such sales is that providing China with older technology keeps the country dependent on U.S. tech rather than pushing it to develop its own stack.
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Kao has previously highlighted risks linked to shifting market conditions. In a recent note, he cautioned that a path to lower interest rates could come with a potential downturn as yields move toward pre-crisis levels (full story). He also observed that the AI trade faltered while bonds rallied during a strong CPI print (more here).