{"id":11329,"date":"2024-06-24T21:24:13","date_gmt":"2024-06-24T21:24:13","guid":{"rendered":"https:\/\/economicherald.net\/?p=11329"},"modified":"2024-06-24T21:24:13","modified_gmt":"2024-06-24T21:24:13","slug":"free-whelan-the-long-magnificent-7-trade-is-almost-as-universal-as-it-is-overcrowded","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=11329","title":{"rendered":"FREE WHELAN: The \u2018Long Magnificent 7\u2019 trade is almost as universal as it is overcrowded"},"content":{"rendered":"<p>In this Stockhead series, investment manager James Whelan, managing director\u00a0<a href=\"https:\/\/www.barclaypearce.com.au\/\" target=\"_blank\" rel=\"noopener\">Barclay Pearce Capital Asset Management<\/a>, offers his insights on the key investment themes and trends in domestic and global markets. From macro musings to the metaverse and everything in between, Whelan offers his distilled thoughts on the hot topic of the day, week, month or year, from the point of view of a professional money manager.<\/p>\n<p>\u00a0<\/p>\n<p>Good morning and here\u2019s to another massive Tigers win against the Raiders, Swans win against the Giants and Port getting the absolute tar kicked out of them by anyone once again.<\/p>\n<p>These cold days and long nights are about the time when calendars turn to what the plans are for Saturdays in late September.<\/p>\n<p>Footy is life and life is lovely.<\/p>\n<p>\u00a0<\/p>\n<h2>What else is lovely today?<\/h2>\n<p>Grab a bevy. Take a seat. Enjoy your regular reminder as to why things keep on ticking and why it pays to be invested.<\/p>\n<p>Here\u2019s a <em>chartstorm<\/em> to kickstart a story of <em>cause and effect<\/em>.<\/p>\n<p>\u00a0<\/p>\n\n<p>And if you\u2019re wondering why \u201ccomplacency\u201d is the word of the day then here it is.<\/p>\n<p>The below, as a result of the above.<\/p>\n\n<p>And a continual pile up of fundies believing that, \u201cLong the Mag 7\u201d is both required and crowded.<\/p>\n<p>Take this for an example from the recent BofA Fund Manager Survey.<\/p>\n\n<p>Massively outstripping the months\u2019 previous returns\u2026<\/p>\n<p>\u00a0<\/p>\n<p><em>Via GenuineImpact<\/em><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<h2>Data Centres and how to power them<\/h2>\n<p>Two \u201cmust listen\u201d podcasts this week.<\/p>\n<p><a href=\"https:\/\/shows.acast.com\/5ed1b0e5769354130c73bb32\/66765fd23b75e8001289ec1e\">First is my own, obviously<\/a>, in which Heath and I discuss elections, inflationary pressures on the Tooth Fairy, natural gas prices and Guzman &amp; Gomez\u2019s listing and burritos.<\/p>\n<p>And the second one to check out is the recent Odd Lots podcast by Bloomberg, they have the CSO of specialised cloud provider CoreWeave talking not only about chips, but on my favourite \u201ctopic du jour\u201d, energy consumption caused by data centres.<\/p>\n<p><a href=\"https:\/\/podcasts.apple.com\/au\/podcast\/coreweaves-cso-on-the-business-of-building-ai-datacenters\/id1056200096?i=1000659726231\">Here\u2019s the link<\/a> but I\u2019ve got more detail below.<\/p>\n<p>The quote is from Robert Friedland of Ivanhoe Capital.<\/p>\n<p><em>\u201cPer Bloomberg AI Is Already Wreaking Havoc on Global Power Systems: Globally, there are more than 7,000 data centers built or in various stages of development, up from 3,600 in 2015. These data centers have the capacity to consume a combined 508 terawatt hours of electricity per year if they were to run constantly. That\u2019s greater than the total annual electricity production for Italy or Australia. By 2034, global energy consumption by data centers is expected to top 1,580 TWh, about as much as is used by all of India.\u201d<\/em><\/p>\n<p>\u00a0<\/p>\n<p>Via Whelan<\/p>\n<p>In 10 years, data centres will use the same amount of power as <em>India<\/em> today.<\/p>\n<p>And the effect of this?<\/p>\n<p>In my view it\u2019s more things like this which started appearing on the feed over the weekend.<\/p>\n<p>It\u2019s a <a href=\"https:\/\/www.rolls-royce.com\/innovation\/novel-nuclear.aspx\">Micro Reactor being built by Rolls Royce<\/a>.<\/p>\n<p><em>Via Rolls Royce<\/em><\/p>\n<p>\u00a0<\/p>\n<h2>Popping up in the narrative<\/h2>\n<p>These aren\u2019t the way forward for data centres (they\u2019re too small) but it\u2019s funny how casually these are now appearing in the narrative.<\/p>\n<p>Locally, Dutton is ahead in the polls, and I believe a good part of that is because of last week\u2019s headline nuclear policy. The weekend contained a whole AFR edition of nuclear conversation.<\/p>\n<p>I have more to say on that matter but am time poor at the moment.<\/p>\n<p>For now\u2026<\/p>\n<p>All the best and stay safe,<\/p>\n<p>James<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p><em>The views, information, or opinions expressed in the interview in this article are solely those of the writer and do not represent the views of Stockhead.<\/em><\/p>\n<p><em>Stockhead has not provided, endorsed or otherwise assumed responsibility for any financial product advice contained in this article.<\/em><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/experts\/free-whelan-the-long-magnificent-7-trade-is-almost-as-universal-as-it-is-overcrowded\/\">FREE WHELAN: The \u2018Long Magnificent 7\u2019 trade is almost as universal as it is overcrowded<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>In this Stockhead series, investment manager James Whelan, managing director\u00a0Barclay Pearce Capital Asset Management, offers his insights on the key investment themes and trends in <a href=\"https:\/\/economicherald.net\/?p=11329\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":11330,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-11329","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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