About this episode

This episode discusses value investing in 2026, market concentration, and insights from a 25-year investing career.

In this episode of The Rules of Investing, we discuss what value investing looks like in 2026, why market concentration has reached levels seen only a handful of times in history, and whether investors have been too quick to sort companies into AI winners and losers. We also explore the investment lessons Ross has carried through a 25-year career, and the US senior housing company she would be comfortable owning if markets closed for the next five years. Thanks to our Sponsor AlphaSenseThis latest episode is brought to you by AlphaSense.Discover decision-grade AI now - Visit alpha-sense.com/livewire to get started. Chapters: 0:00 Intro 0:40 How actuarial thinking shapes investing 6:10 Reviewing investment cases at Antipodes 9:58 What pragmatic value means in 2026 18:15 Why the index looks risky 22:25 Are hyperscalers actually expensive? 25:47 How concentrated is the AI trade? 34:05 Have investors misjudged AI winners and losers? 44:23 AI’s impact on energy demand 50:43 Lessons from a 25-year investing career 54:35 What investors are getting wrong 57:20 The one stock Vihari would hold for five years

People in this episode

Host: Livewire Markets

Guest: Ross

Topics covered

• value investing
• market concentration
• AI trade
• investment lessons
• senior housing

Keywords

• value investing
• market concentration
• AI winners
• investment lessons
• senior housing

Sponsors

AlphaSense

Mentioned in this episode

Organizations: Antipodes

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