Artificial intelligence has been the biggest story in markets this year, but is it overhyped? Today's guest thinks it is unlikely to live up to investor expectations in 2025.

In this episode we speak to Sumit Gautam, a former private equity executive and founder of Scalar Gauge, a hedge fund trying to take a "private equity style of investing to the public markets".

In this conversation he unpacks:

His investment philosophy
Why private equity outperforms and how he is taking that approach to public markets
The divergence between the tech economy and the real economy
Why the AI narrative is unlikely to live up to investor expectations in 2025
How he would advise investors that are overweight magnificent 7 tech stocks
Why he is investing in software companies over AI

Sumit is participating in the Hearts & Minds conference on 15 November in Adelaide, where a dozen of the world's best investors pitch their best stock idea all in support of funding medical research. In this interview we close by discussing the conference and why participating is important to Sumit.

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Want to check out the Hearts & Minds event? Head to their website to learn more and secure your tickets. And to save 20% off a virtual ticket, use the code EQUITYMATES2024

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In the spirit of reconciliation, Equity Mates Media and the hosts of Equity Mates Investing acknowledge the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respects to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander people today.

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Expert: Sumit Gautam - 4 steps to find great software businesses

Equity Mates Investing Podcast

Expert: Sumit Gautam - 4 steps to find great software businesses