At the start of last year I wrote a piece with the same title. Coming into 2025, many investors assumed 2024’s winners would stay winners. Then a surprise policy shock broad reciprocal tariffs announced by the White House sent markets into a tailspin. The cockpit went dark: prices became hypersensitive to headlines, speculation and narrative.
That dynamic resurfaced recently when global software names were slammed on stories about AI risk. The moves were immediate; measured corporate rebuttals barely moved prices. Analysts stayed cautious – you can’t responsibly rework cash‑flow models without a credible statistical basis for demand, margins and pricing power.
Now, the situation has been amplified with the ‘Citrini piece’ (Citrini who?) that went viral within the past 24 hours – a ‘piece’ that suggested AI would replace most high paying white-collar jobs, curtail consumer spending with everything and everyone ending up in a pile of dust and in one fell swoop challenged the relevance of sell‑side research.
Its dramatic, scenario‑driven delivery made it gripping and shareable, even if the conclusions were intentionally hyperbolic, a point well made by Rupak Ghose in his article – it’s a vibes world..”the “enshittification” of investment analysis” while also noting that the author covered himself by saying it was a scenario to flag tail risks. Otherwise known as unqualified opinion. The result: another wave of market dislocation.
This is the new investment landscape. We may all have been critics of Sell‑side research over the years but it remains valuable, accountable, expert‑driven and rigorously checked, however research alone is no longer a sufficient edge. The world of portfolio management has changed forever.
Rapid, narrative‑led flows create mis-pricings that active managers can exploit and they are going to have to to justify their credentials after years of being marginalised by Passive funds and ETF’s. But to make that happen they are going to require the right tools, different tools and real‑time insight.
Which is where we come in and have the space we have occupied for 20 years and why Apollo has always been known as ‘The Need to know.’
As real time data emerges, the Apollo model incorporates these data points and updates its forecasts accordingly. Measures of risk adjusted return are provided alongside price dynamics of momentum and volatility in the form of signals and datasets as well as graphically on an interactive online platform.
Welcome to the world of Apollo –