I don't think there's any uncertainty about AI. There's no question hundreds of billions of dollars is needed to build this out. The capex is going to drive more global growth.

I sincerely believe there is no bubble in the AI space. That being said, like in everything in capitalism, there are going to be some big failures. We will see a rotation and there's going to be some huge winners and some losers.

The needed capital to build out AI is one of the great opportunities for the world to come.

The average world investor had an unbelievable over-allocation in dollar-based assets last year. We saw probably a 5% reallocation. That's fine.

The US economy is really growing fast. We estimate it will be over 5% in the first quarter.

I do believe the United States is one of the great places to invest and will remain to be one of the great places to invest.

It is about long-term investing. If you invested a dollar in the S&P on January 1st 2000... over that 25 years, you made over an 8% compounded return better than any other investment.

I actually am bullish on Europe because I'm starting to see Europe doing these long-term things to build vitality for the future.