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As enterprise adoption of AI accelerates, it’s increasingly important for organizations to implement these tools thoughtfully and safely. At the same time, harnessing the full capabilities of large language models can unlock efficiencies and boost productivity. That’s why more companies are investing not just in models and tokens, but in dedicated teams to support AI implementation across their businesses. On today’s episode, Aaron Mulvihill, Global Alternatives Strategist, is joined by Dillon Edwards, AI Strategist at J.P. Morgan Asset Management. Together, they discuss the security measures and guardrails needed for responsible AI adoption, how Dillon expects AI to be utilized within the asset management industry, and what the future might hold for junior talent entering the workforce today. Resources: For more resources on Alternatives, visit our Guide to Alternatives and Principles of Alternatives Investing Listen to the audio version of the Alternative Realities podcast: Apple Podcasts | Spotify

The Global Financial Crisis of 2008 stands as one of the most consequential events in modern market history, reshaping economies and investment thinking worldwide. This conversation traces the roots of the crisis—from the housing bubble and lax lending standards to the complex web of derivatives and leverage that amplified risk across the financial system.  In the last episode of Moments in Market History, Dr. David Kelly and Grant Papa examine the pivotal moments, regulatory responses and the difficult decisions that shaped the recovery, highlighting the lessons learned about risk, regulation and resilience for investors today. Watch the video version on YouTube. Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: Apple Podcasts | Spotify

The dot-com bubble marked a turning point in market history, fueled by the promise of internet technology and a wave of investor enthusiasm. Optimism, easy access to information and a booming economy set the stage for soaring IPOs and rapid market growth—even when fundamentals were hard to pin down. The parallels to today’s AI-driven market underscore the importance of applying lessons from the past to navigate innovation with clarity and discipline.   In this episode, join Dr. David Kelly, Chief Global Strategist, and Katie Korngiebel, Research Analyst, as they reflect on the rise and fall of the dot-com era and share lessons learned that apply to today’s evolving markets. Watch the video version on YouTube. Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: Apple Podcasts | Spotify

The collapse of Long-Term Capital Management in 1998 revealed how even the most sophisticated strategies can unravel under extreme market stress. This episode explores the rise and fall of the hedge fund, the role of quantitative models and leverage, and the ripple effects across the global financial system. Connections to today’s market environment highlight ongoing challenges in risk management and liquidity, while offering perspective on how investors can approach uncertainty.   Join Dr. David Kelly, Chief Global Strategist, and Noble Cooper, Research Analyst, as they revisit the story of Long-Term Capital Management and share insights for navigating today’s complex markets. Watch the video version on YouTube. Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: Apple Podcasts | Spotify

The 1987 Stock Market Crash—known as Black Monday—stands as a defining moment in financial history, marked by a single-day decline of over 22% in the Dow Jones Industrial Average. This episode unpacks the forces that set the stage for such an unprecedented event, from the exuberance of the 1980s bull market to the rapid proliferation of portfolio insurance. Parallels to today’s market environment highlight both new risks and reassuring differences, reinforcing the value of a long-term perspective. Join Dr. David Kelly, Chief Global Strategist, and Diago Mosqueira, Research Analyst, as they revisit Black Monday and share insights for navigating today’s complex markets. Watch the video version on YouTube. Subscribe to the Notes on the Week Ahead podcast for more insights from Dr. David Kelly: Apple Podcasts | Spotify