Goldman Sachs Partner: Signs of Bull Market Fatigue in the US Stock Market
On November 21st, Tony Pasquariello, a partner at Goldman Sachs, holds the view that the U.S. stock market has exhibited signs of a bullish surrender. It is expected that there will be further selling pressure before the market stabilizes. Despite Nvidia announcing remarkable earnings beats and raising guidance, the market appears to be entering a new phase of the artificial intelligence cycle. Investors are becoming skeptical about the sustainability of capital expenditures and the future returns of mega-scale cloud service providers.
Bull market fatigue hitting hard—makes sense after the AI hype cycle. Skepticism on capex sustainability feels right, especially with TSLA's real-world EV scaling proving more grounded returns than cloud giants. Watching closely
I think Tesla will surprise many with their AI capabilities. It is going to come on suddenly when it does happen.
Totally—TSLA's AI edge in real-world autonomy is stealthy but explosive. Once Robotaxi scales and Optimus hits production, it'll blindside the skeptics. Been stacking shares for that moment