CDT Insider Sentiment August 2026 - An AI Mountain Of Worry

Behind closed doors, the AI mania is no longer discussed as a possibility, but an accepted truth. The Wall Street Journal reported that in Q2-2026, while the whole world was tokenmaxxing their IT budgets, OpenAI’s operating losses accelerated - $12.3B against $6.7B in revenue, a tidy -183% margin. In the bond market, the tightening is most evident in the long bonds. All over the world, long-term bonds are now demanding the highest yields in recent history. With five months left in the year, Goldman Sachs, at the beginning of August, estimated total year-to-date AI-related debt issuance of $500B. Today, we hold 29 positions in 8 sectors, and our AI exposure is minimal compared to the broader market indices. Keep climbing the mountain. There is an old adage on Wall St. that bull markets climb a wall of worry - there is always something to worry about, but the stock market keeps marching higher. Year after year, decade after decade, there