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Edward Yardeni, president of Yardeni Research, is with us this morning. Thank you very much for joining us, Mr. Yardeni. It's always nice to talk to you. Should we start by talking about Anthropic since that's the main topic right now? Now, here's the catch, right? They want to raise $2 trillion. The world wonders if this AI debt is accumulating, even though they are at the forefront of the most exciting breakthroughs in this field.
How do you view this company and this potential IPO? Well, obviously Anthropic is vital to the entire AI ecosystem. And the entire industry seems to have a very bright future. The question, of course, is how will individual companies and players feel? I think Anthropic's IPO will be very successful.
Wall Street managed to launch SpaceX very successfully. I think they will do the same with Anthropic, and that will mean that we will see what is happening in the AI business every quarter from one of the most important players. Of course, there are other important players, such as hyperscalers. These are public companies, and we know that their AI revenues, their cloud computing revenues, have been very high.
So, it's an interesting industry. It is in the early stages of a major long-term boom in terms of its ability to allow us to process much more data cheaper and faster. And you know what? We will have even more data to process. So, it will be self-sustaining, and I think overall it will be an important business for all of us.
Ede Yardeni, and I'm trying to ask, we've been talking to you in recent weeks, and we've been asking you about the implications of the elections, the midterm elections, and the elections in Israel. And we're actually getting close to the crucial moment , right? Israel will know the results in a few days.
And in the US, you see quite a few statements made by President Donald Trump in the run-up to this election. What is your opinion on how investors should position themselves in the face of the outcomes of these two important events? Yes, I think it's worth staying fully invested. I think that reviewing a portfolio based on political events is usually a bad idea unless you are a trader and have strong beliefs about how the election will end and want to bet on it.
Eh, but um, the thing I've noticed over the years is how well the U.S. economy and our stock market are doing, despite Washington. Well, I think a lot of investors are too concerned with the headlines coming out of Washington, what the Fed is doing, what the Treasury is doing. Uh, and sometimes they forget that the market is driven by the profits of companies that are constantly striving to, uh, increase their revenues, and they are able to do so in the long term.
Every now and then we have a recession, which is a step backwards, but it also turns out to be a buying opportunity, uh, for investors. So I, I would, uh, advise just, uh, sticking with your portfolio that you have. Uh, we'll survive the election, and, uh, from what I understand, uh, the House of Representatives will probably go to the Democrats, uh, the Senate, maybe too, but it's not such a certain development.
And I think that will mean that our politics, uh, which have been very partisan and divided, uh, will be even more partisan and divided, but our economy will weather it. Yes, I mean for stock markets around the world. Well, March has arrived, or rather, when March arrived and oil prices rose, the natural reaction for most markets was risk aversion.
At this time, or as we speak, Brent oil prices are still at 115. Well, now there are theories that maybe they are raised ahead of the US election, it hurts the US, etc. Many different opinions. My question to you is: until oil prices drop, is it wise to be cautious about investing in most stocks simply because they react to inflation, macroeconomics, etc., and until they cool down, er, be prudent?
Well, I, I really think that over the next few weeks we have a clear potential for the market to fall on bad news. Do you mean the US markets? US markets. OK. OK. And both global and global and global markets as well, because I, I think some of the issues are certainly global in nature, and of course a new escalation of the war between the US, Iran, the US, Israel and Iran could well push oil prices above 120 for a short period of time.
I think Iran's economy is in very bad shape, and I think another round of fighting would weaken Iran's military capabilities, but even so, stock markets around the world are likely to react badly, but I would actually view this as a buying opportunity. The Federal Reserve is meeting this week and is likely to leave rates unchanged, but Fed Chairman Kevin Warsh could take an extremely hawkish stance, hinting at a hike of at least 25 and possibly 50 basis points in December.
So I think we have several events coming up, including the midterm elections, that could create buying opportunities. I wouldn't necessarily sell assets on the eve of them. I would see how they go, but if you have the cash and are interested in buying stocks, a good opportunity may be ahead. Dr. Yardeni, thank you very much for your time. It was nice talking to you. I'm waiting for the next conversation.
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