Markets are ushering in a particularly gothic Halloween as the AI trade exposes a crumbling aristocratic pile of early 21st century capitalism. Wall S
Markets are ushering in a particularly gothic Halloween as the AI trade exposes a crumbling aristocratic pile of early 21st century capitalism. Wall Street has been describing itself in castle-adjacent terms for years. Jamie Dimon has long talked to JPMorgan shareholders about the bank’s “fortress balance sheet.” His 2015 letter set aside a section to answer the question of what the phrase even meant. By 2021, he’d a
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