<p>A market that refuses to go down, AI coming for the investor&#39;s job, and MicroStrategy quietly becoming the entire preferred-equity market. Andrew&#39;s monthly ramble across five things he can&#39;t stop thinking about: stretched memory valuations, a hyper-concentrated tape, mental flexibility, and the cycle nobody believes can break.</p><p>This episode is sponsored by Fiscal.ai. Modern financial data for global equities, with a self-serve API that plugs fundamentals and prices straight into your LLM and updates within minutes of earnings, not days. Get 15% off at https://fiscal.ai/yav</p><p>Chapters:</p><p>00:00 Five things I&#39;m rambling on this month</p><p>01:58 Sponsor: Fiscal.ai</p><p>03:16 &quot;We&#39;ll never have problems again&quot;: a market that won&#39;t quit</p><p>04:56 Energy and oil: the worries the market keeps shrugging off</p><p>06:00 AI, space plays, and stretched memory valuations</p><p>09:54 Five stocks, half the S&amp;P&#39;s gains</p><p>10:51 Is AI coming for the investor&#39;s job?</p><p>13:08 The counterpoint: 200-IQ machines and more fragile markets</p><p>16:10 Mental flexibility: why your old letters predicted your AI take</p><p>20:04 Why &quot;the cycle is dead&quot; always worries me</p><p>21:42 MicroStrategy is the preferred-equity market now</p><p>24:45 The CFO signal: leaving a big company for a small one</p><p>Links:</p><p>Yet Another Value Blog - https://www.yetanothervalueblog.com</p><p>See our legal disclaimer here: https://www.yetanothervalueblog.com/p/legal-and-disclaimer</p><p>Production and editing by The Podcast Consultant - https://thepodcastconsultant.com/</p>