Michael Lewis and Tom Lee comment on the trillion-dollar software stock plunge: "I don't think it's a bad idea to go long on fear stocks right now."

According to a report by Bijie Network: In a recent speech, Michael Lewis and Tom Lee from Fundstrat highlighted how extreme market volatility and AI-driven industry transformation are reshaping the investment landscape. Lewis cited a Fidelity study indicating that the best-performing retail accounts belonged to deceased clients, emphasizing that "inactivity" often outperforms "overtrading." Lee pointed out that hedge funds typically hold stocks for only a few seconds, while retail investors with "permanent capital" perform better. He noted that AI has led to a significant shrinkage in software stocks, with a related ETF recently losing about 100 billions USD. Lewis warned against conflating the potential of AI with guaranteed profitability, noting that AI could reduce corporate earnings. The two also discussed the existential risks faced by assets such as bitcoin and gold. Lewis revealed that he holds a "doomsday trade" defensive position in gold, reflecting his cautious investment approach.