Visionary leaders. Where do we find such men? In this day and age, we might have to look far to find one (if any). Sometimes it feels like the true visionary leader is a thing of the past. Yet, every so often, surprising statements come from where you least expect them. In an article on The Verge published yesterday, Russian president Vladimir Putin is cited. He spoke to students last Friday, saying: “Artificial intelligence is the future, not only for Russia, but for all humankind.” According to Putin, “[…] it comes with colossal opportunities, but also threats that are difficult to predict. Whoever becomes the leader in this sphere will become the ruler of the world.”
Hours later, Elon Musk reacted to the article on Twitter: “China, Russia, soon all countries w strong computer science. Competition for AI superiority at national level most likely cause of WW3 imo.” It was not the first time that Elon Musk warned about the dangers posed by artificial intelligence. He recently said that government regulation of artificial intelligence (AI) is necessary because AI forms a ‘fundamental risk to the existence of human civilization.’
This led Facebook CEO Mark Zuckerberg to publicly dismiss Musk’s opinion on the matter as ‘far-fetched’. Zuckerberg even went as far as to call Musk an irresponsible ‘naysayer’: “And I think people who are naysayers and try to drum up these doomsday scenarios — I just, I don’t understand it. It’s really negative and in some ways I actually think it is pretty irresponsible. […] In the next five to 10 years, AI is going to deliver so many improvements in the quality of our lives.” After he spoke with Zuckerberg on the subject, Musk concluded that the Facebook founder’s understanding of the subject was ‘limited’.
It remains to be seen which of these views eventually will turn out to be right (or even visionary, for that matter) — only time can tell. But one thing is for sure: we are at the threshold of a new era, the scale of which is comparable with that of the Industrial Revolution. And we better hope that we will have some true visionary leaders leading us through it. These are crucial times. It is up to our leaders to either make, or break the global economy with their actions in the times to come.
On Friday, all major US indices posted gains, fueled by a weaker-than-expected jobs report, which lowers investors’ expectations of the Federal Reserve hiking interest rates once more this year. The Dow gained 0.18%, the S&P 500 added 0.20% and the NASDAQ was up 0.10%. The S&P 500 ended the week with a gain of 1.37%. The NASDAQ saw its biggest weekly gain since December: +2.7%. The Dow was up 0.8% for the week, and is almost back at the 22,000 level. Volatility eased once more Friday. The VIX ended 4.34% lower, closing at 10.13. If this tendency of easing volatility persists into next week, we will be back into the single digits. UVXY ETFs lost 0.69% Friday, XIV ETNs were up 0.05%.
Danny Daredevil took another step back. His RSS is now 71%. Adventurous Anny is keeping cash. Her RSS remains at just below 4%. Solid Suzy and Lazy Larry profited from the slight rise of XIV ETNs. Their RSS now stands at almost 26%.
None of our models gave a trading signal at the end of Friday’s session.
RSS = Return Since Start | YTD = Year-To-Date | QTD = Quarter-To-Date | AAR = Average Annual Return
The BUT film festival is unique in its kind. As far as Tim and René know, it is the only film festival in the world that is solely focused on movies of the genres B-movies, Underground & Trash. It attracts genre enthusiasts as well as fanatics from all over the world. This 12th edition was the third edition Tim and René attended. They are already looking forward to the 13th edition.
Movies watched, in chronological order:
Day 1 (opening film)
Replace (Norbert Keil, Germany / Canada 2017)
Harvest Lake (Scott Schirmer, USA 2016)
Spit’n’Split (Jérôme Vandewattyne, Belgium 2016)
Hardware (Richard Stanley, UK / USA 1990)
– Justicia Justiciera III Kung Fu Karate Annihilator (Rafa Dengrà)
– Steps (Alex Avagimian)
– Lumpen (Jordane Oudin)
– Grün (Nicolás Petelski)
– Don’t Ever Change (Don Swaynos)
– Factory Man (Knut Hybinette)
– CORP (Pablo Polledri)
– Pegasino at the Common (Nicola Destefanis)
– Almeria 3000 (Francisco Sánchez)
– Bloodbath (Miles Shephard)
– Frostbite (Jasper de Vries)
– Capacities (Kuesti Fraun)
– The Absence of Eddy Table (Rune Spaans)
– Mars 3752 (Prototypes Distribution)
– Dolphinman Battles the Sex Lobsters (John Brennan)
Lost Soul: The Doomed Journey of Richard Stanley’s Island of Dr. Moreau (Richard Stanley, USA 2014)
Mansfield 66/67 (P. David Ebersole & Todd, USA / UK 2017)
The Otherworld (Richard Stanley, France 2013)
This Giant Papier-Mâché Boulder Is Actually Really Heavy (Christian Nicolson, New Zealand 2016)
The Cruel Tale of the Medicine Man (James Habacker, USA 2016)
Teleurdeugd (Tom Gaublomme, Warre Keuppens, Arno De Facq, Alejandro Alvarez, Belgium 2017)
Jungle (Greg McLean, Australia / Columbia 2017)
Gutboy: A Badtime Story (Nick Grant, USA 2015)
The Sea of Perdition (Richard Stanley, Iceland / UK 2006)
Dust Devil (Richard Stanley, South Africa / UK, final cut 1993)
Eat That Question: Frank Zappa in His Own Words (Thorsten Schütte, France / Germany 2016)
Director Richard Stanley, introducing his movie The Otherworld at the BUT film festival on 1 September
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