(A) the S&P500 doesn’t give high enough returns to justify investing instead of donations, and (B) AI research companies are not currently undervalued..., then you cannot believe that (C) AI stock is a better investment opportunity than any other.
I’m engaging the question of whether to make substantial donations now or whether to save for later. I don’t have a strong view on what investments are the best savings vehicle, though I do have an intuition that the market is undervaluing the growth potential of AI-intensive companies.
So I suppose I disagree with both (A) and (B). I think the S&P 500 probably will generate high enough returns to justify investing instead of donations, and I think AI companies are somewhat undervalued.
To invest in AI companies but not the S&P500 for altruistic reasons, I think you have to believe AI companies are currently undervalued
We may be using different definitions of undervalued (see this comment). In the sense that I think AI companies are worth investing in because I think their stock price will be higher in future, I agree they’re “undervalued.”
But I don’t think they’re undervalued in the sense that the market is mis-valuing their current assets, etc. If their stock price is higher in the future, I’d expect this to be because they’ve made real productivity gains.
I’m engaging the question of whether to make substantial donations now or whether to save for later. I don’t have a strong view on what investments are the best savings vehicle, though I do have an intuition that the market is undervaluing the growth potential of AI-intensive companies.
So I suppose I disagree with both (A) and (B). I think the S&P 500 probably will generate high enough returns to justify investing instead of donations, and I think AI companies are somewhat undervalued.
We may be using different definitions of undervalued (see this comment). In the sense that I think AI companies are worth investing in because I think their stock price will be higher in future, I agree they’re “undervalued.”
But I don’t think they’re undervalued in the sense that the market is mis-valuing their current assets, etc. If their stock price is higher in the future, I’d expect this to be because they’ve made real productivity gains.