GQG Partners chairman Rajiv Jain has defended the investment management giant’s decision to avoid what he describes as a frenzied artificial intelligence trading mania despite billions of dollars leaving the business as the firm’s returns lag many of its major rivals.
In a letter to clients, the high-profile stockpicker said he believed valuations of AI-related companies that had soared over the last year would slump. The cost of selling too late would be significantly worse, he wrote.
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