Howard Marks just nailed the only question that matters for AI investors

Detailed summary

The Wall Street legend has a common-sense checklist that should be essential reading for any investor in the artificial intelligence trade.

When the history of the artificial intelligence boom is written – hopefully by a human, probably by a robot – it will be fascinating to see how the first three weeks of November 2026 are described.

Could we be living through one of the most consequential little periods of the boom? There’s surely an argument.

Opening of the article, excerpted from Australian Financial Review. To read the rest, open the article on the publisher's site.