Goldman Sachs Expert: The market's surge reminds me of 1999 every week

Goldman Sachs Pasquariello:

This week I can't help but compare the present to the late 1990s.

A great investor's view: Some believe that the scale of AI construction should be larger and last longer than that of the Internet.

Another great investor also pointed out that from 1991 to 1998, the NASDAQ 100 Index increased every year, and then doubled in 1999 (before the crash).

Borrowing from another client's words, this idea has been lingering in my mind:

Every day when we walk into the office, we find that the government needs to spend more money than the day before.

Aside from the super cycle of artificial intelligence capital expenditures, I think it is reasonable to believe that the consequences of war will only include more spending on defense, supply chain diversification, and commodity infrastructure.

Conversely, my intuition is that the market may be preparing for a period when inflation trades begin to dominate.