{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/6704f63a835696b02f258dd3/6a7ae2b630669142974f3952?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"#99 AI's listing boom could end two decades of US equity tailwinds","thumbnail_width":200,"thumbnail_height":200,"thumbnail_url":"https://open-images.acast.com/shows/6704f63a835696b02f258dd3/1786438312308-0176063e-2720-47a8-aef3-088ef14348e3.jpeg?height=200","description":"<p>For 20 years, buybacks and shrinking share counts boosted US equity returns. Sahil Mahtani argues that AI-driven IPOs and secondary issuance are set to reverse that trend, potentially dragging returns down. He draws a parallel to EMs in the 2010s, where a similar issuance wave eroded returns, but says that headwind for EMs is fading just as it builds in the US.</p>","author_name":"Ninety One"}