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The New Computer
Perplexity, Lovable, ElevenLabs and the battle to own the next generation of AI
Jun 14
•
Stephen Clapham
6
The $1.75 Trillion Question
What the SpaceX IPO really means for markets
Jun 7
•
Stephen Clapham
11
May 2026
Bubbles, a UK Compounder & Ferrari’s Future
Jeremy Grantham on AI excess, a high quality UK stock on a value rating, and the uncomfortable logic behind the Luce
May 31
•
Stephen Clapham
37
How to Invest in AI & 19 Quality/Growth Stocks
Tom Slater on Anthropic, SpaceX, founder-led companies and the new “anticipation era”
May 24
•
Stephen Clapham
35
Buffett vs Son: The Great AI Bet
From asteroid mining to $20m AI salaries, things are starting to sound euphoric
May 17
6
More Gambling Than Ever: What Warren Buffett Didn’t Quite Say
Why the AGM disappointed, why it may not matter & where one seasoned investor is hiding now
May 10
•
Stephen Clapham
36
1
Winning Cultures, Brutal Truths
Ken Griffin, Jamie Dimon and Michael O’Leary on what works and what doesn’t
May 3
•
Stephen Clapham
52
3
April 2026
The Market Everyone Has Given Up On
A decade of outflows, record pessimism & why smart money may be starting to move back in
Apr 26
•
Stephen Clapham
16
1
Markets, Myths and a Bizarre $100m Media Deal
From AI exuberance to oil shocks, what my discussion with JP Morgan guru Michael Cembalest reveals about today’s most fragile narratives
Apr 19
•
Stephen Clapham
10
Why Most Stocks Fail (And What That Means for Your Portfolio)
100 years of data reveals extreme concentration, negative median returns & a shrinking pool of winners
Apr 12
•
Stephen Clapham
15
4
2
The Investment Excitement Ratio
A new framework combining valuation, concentration and capex; and why today looks like past manias.
Apr 5
•
Stephen Clapham
11
4
March 2026
Anatomy of a $3.5bn Mistake
How operational failure reshaped an investment case and what it would take to recover
Mar 29
•
Stephen Clapham
11
3
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