Technology, AI, and Market Commentary by Steve Hou
Steve Hou: Market dismisses Anthropic stake gains as non-recurring items
Steve Hou critiques how the market has overlooked gains from the Anthropic stake, choosing not to apply multiples to what he describes as one-time non-recurring items. He expresses skepticism ...
Knicks owner stock has seen strong gains this year, Steve Hou notes
Steve Hou observes that the owner of the Knicks has experienced a sharp increase in their stock price over the past year. The tweet highlights the notable performance of the Knicks owner’s ...
Steve Hou: China re-enters U.S.-centric currency system with AI tokens
Steve Hou comments on China's ongoing efforts to develop an alternative international currency system. He observes that, despite these efforts, the introduction of AI tokens has led China back ...
Stocks rally as yields and oil decline, Steve Hou believes
Steve Hou observes a swift return to market stability following a day of selloff. He notes that both the 10-year yield and oil prices have declined, while stocks have rebounded. According to Hou, ...
Steve Hou: Market looks overbought as investors await possible pullback
Steve Hou highlights that markets appear significantly overbought and a pullback is overdue. He observes that Korean retail investors are particularly over-leveraged, but adds that many market ...
Silicon Data LLM Token Expenditure Index explained, Steve Hou notes
Steve Hou provides an overview of the Silicon Data LLM Token Expenditure (Price) Index. The update offers a look at token expenditure trends related to large language models in the crypto ...
Steve Hou: ISM services prices paid index does not reflect actual services inflation
Steve Hou points out that the ISM survey of service-industry purchasing managers, as well as the ISM Services Prices Paid index, do not accurately capture services inflation. He highlights that ...
10-year yield trend poses concerns, Steve Hou notes
Steve Hou suggests that there is a reason why the 10-year yield could be declining, cautioning that the implication may be unfavorable. No further context or details about the reasoning were ...
Steve Hou: HOOD and TER rise while KTOS declines
Steve Hou highlights gains in HOOD and TER, while acknowledging losses for KTOS investors. The tweet congratulates those who were bullish on HOOD and TER, and offers condolences to those who were ...
Accidental burning of $500 million Claude tokens lacks credibility, Steve Hou notes
Steve Hou questions the plausibility of a story involving a Fortune 500 company accidentally burning $500 million worth of Claude tokens in a single month. Hou expresses skepticism, stating that ...
Steve Hou: Venture capital ecosystem becomes increasingly capital intensive
Steve Hou fully agrees with the views shared in a recent interview with Marc Rowan. The commentary highlights that the venture capital ecosystem is becoming capital intensive for the first time, ...
Both token supply and price are rising, Steve Hou notes
Steve Hou highlights a basic economic principle by pointing out that when both the quantity and price of AI tokens increase, it indicates a shift in the demand curve outward. Hou notes that this ...
Steve Hou: Bears lack strong arguments as markets focus on AI and yields
Steve Hou questions the validity of current bearish arguments in the stock market. He expresses little concern about oil prices, rising bond yields, or Federal Reserve interest rate hikes. Hou ...
ZCash shared as interesting, Steve Hou notes
Steve Hou clarified that his recent comments on ZCash should not be considered investment advice. He stated that he has limited knowledge about crypto and only shared information about ZCash ...
Steve Hou: 10-year yield unlikely to reach 5 percent
Steve Hou expressed his view that the 10-year yield will not reach 5 percent. He mentioned making a side bet for $20 with another market participant and expressed confidence in his position on ...
10-year Treasury yield may not hit 5.5 percent, Steve Hou notes
Steve Hou expresses skepticism over the likelihood of the 10-year Treasury yield reaching 5.5 percent or even 5 percent. He mentions being locked out of his Bloomberg terminal and not monitoring ...
Steve Hou: Value investing approach enables exposure to large cap growth and momentum
Steve Hou asserts that certain value investing strategies make it easy to justify going long on large cap growth, quality, and momentum stocks. This approach, according to Steve Hou, allows ...
Net dollar retention rate at 500 percent is a key concern, Steve Hou notes
Steve Hou highlights that a significant portion of performance is being driven by the intensive margin, with a reported net dollar retention rate of 500 percent. He emphasizes that this growth ...
Steve Hou: Equities rally may pause as market breather appears overdue
Steve Hou expresses concerns about the ongoing rise in equities, suggesting that the market cannot continue to increase each day without a period of consolidation. He indicates that a pause or ...
INTC moves from terrible to less terrible ahead of earnings, Steve Hou notes
Steve Hou highlights a positive shift for INTC, noting the company has improved from a terrible to a less terrible state, especially when considering its geopolitical strategic importance. The ...
Steve Hou: Finance is driven by event time, not calendar time
Steve Hou emphasizes that in finance, the focus should be on event time rather than calendar time. He points out that the quicker events occur in calendar time, the shorter their duration in ...
