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Daily Mail
29 minutes ago
- Daily Mail
EXCLUSIVE SJP investment boss warns US risk profile has 'fundamentally changed'
St James's Place has cut exposure to US stocks within its £16.4billion Polaris 4 fund as the wealth manager becomes increasingly wary of the world's biggest market. US stocks have endured a rollercoaster 2025 after rebounding from heavy losses suffered in the wake of President Donald Trump's 'liberation day' trade tariffs. 'It's difficult to argue that US equities aren't riskier today than they were in the past,' Justin Onuekwusi, chief investment officer at St. James's Place, told This is Money. 'This isn't about trying to call the top of the market. It's about acknowledging that the risk profile of US equities has fundamentally changed. 'If an investor's risk appetite hasn't shifted, it's hard to justify allocating more to an increasingly concentrated and expensive market.' The wealth manager has shifted its exposure away from the US, and now holds underweight positions across the board. SJP said its underweight position is consistent in all of its portfolios. For its Polaris 4 fund, part of its flagship Polaris range, this means shifting to a 15 per cent underweight position in US equities. SJP said this is a deviation equivalent to as much as £2.4billion compared with a market-cap weighted global benchmark. The fund holds a 48 per cent weighting towards the US. Though still significant, this compares to a 66 per cent weighting held by the MSCI ACWI index. Onuekwusi said: 'The US remains our single largest regional equity allocation. But given current valuations and concentration, we believe a more balanced, risk-conscious allocation is appropriate.' Polaris 4 instead holds a significantly higher allocation to Europe and the UK, at 18 per cent and nine per cent respectively, compared with 13 per cent and three per cent for the MSCI ACWI. Justin Onuekwusi, chief investment officer at St. James's Place, says US equities are riskier today than they have been in the past Onuekwusi says the risk associated with the US market has changed, and as a result it is 'justify allocating more to an increasingly concentrated and expensive market', if an investor's risk appetite hasn't shifted. He added that the lower weighting towards the US is 'not just due to political uncertainty', but 'a combination of market concentration and stretched valuations across many US companies'. High valuations in the US market, which accounts for two-thirds of global stocks, has been a topic of market concern for some time. This week chip giant Nvidia surpassed $4trillion in market cap, meaning that it is worth all of the UK's publicly listed firms combined. 'The top 10 US stocks now represent more than a third of the US market, the highest level of concentration in over 60 years,' Onuekwusi said. 'Despite some recent sector reclassifications, such as Amazon moving from Technology to Consumer Discretionary, the index remains heavily tech-oriented, reminiscent of late-1990s market dynamics. 'We are positioning away from US mega-cap stocks in favour of a more balanced exposure to large and small caps - a consistent stance across Polaris 1 through 4.' The magnificent seven companies, that is Apple, Alphabet, Amazon, Meta, Nvidia and Tesla, currently accounts for almost 34 per cent of the S&P 500's total value. Onuekwusi added: 'Over the past 18 months, while maintaining our US underweight, we have shifted our overweight from Emerging Markets into a broader allocation across the UK and Europe. This repositioning has helped add resilience, particularly during periods of tariff-related uncertainty and in the subsequent recovery.' He added: 'Our decision to underweight US equities in Polaris 4 reflects a belief that more compelling risk-adjusted opportunities currently lie outside the US markets. Both our medium-term asset allocation and our bottom-up analysis - driven by our primarily active manager lineup - point to stronger prospects in regions such as Europe, the UK, Japan, and Emerging Markets, where we are currently overweight. Combined with the US' higher concentration in global markets, is the large valuations many US equities are exhibiting. Onuekwusi says valuations are reaching the levels seen during the dotcom bubble, highlighting concerns over their future. Nvidia, for example, is currently operating on a price to earnings ratio of 32.8, while Amazon is at 32.9 and Tesla operates at an eye watering PE ratio of 132.6. He said: 'Investors are paying a premium for future earnings growth, which reduces the margin for error. If that growth doesn't materialise, share prices become more vulnerable to correction. The higher the valuation, the less cushion there is against disappointment.'
Geeky Gadgets
an hour ago
- Geeky Gadgets
ChatGPT Prompt Formula : CASTLE Framework Explained
What if the secret to unlocking the full potential of AI lies not in the technology itself, but in how we communicate with it? Imagine crafting a single, well-structured sentence that transforms a vague, uninspired response into a masterpiece of precision and creativity. This is the power of prompt engineering, a skill that turns artificial intelligence into a true collaborator rather than just a tool. Yet, many users struggle to bridge the gap between their goals and the AI's output, leaving untapped potential on the table. The good news? A simple, yet powerful framework—CASTLE—can transform the way you interact with AI, making sure your prompts consistently deliver results that are as sharp as your vision. In this overview, Taylan Alpan uncovers how the CASTLE framework simplifies the often-daunting task of crafting effective prompts. By breaking down the process into six essential elements—Character, Action, Setting, Tone, Lore, and Expression—this method offers a clear roadmap for creating prompts that are not only specific but also adaptable to any context. Whether you're looking to generate compelling marketing copy, streamline content creation, or refine business strategies, CASTLE equips you with the tools to maximize the quality and relevance of AI-generated outputs. As we delve deeper, you'll discover practical examples, expert tips, and even tools to enhance your workflow—proof that mastering AI prompts is less about complexity and more about clarity. What could this mean for the way you work, create, or innovate? Let's find out. Mastering AI Prompts with CASTLE Understanding the CASTLE Framework The CASTLE framework is a systematic method designed to enhance the quality of AI-generated outputs. It breaks down prompt creation into six key components, each contributing to the clarity and effectiveness of the final result: Character: Define the AI's role or persona. For example, instructing the AI to act as a 'financial advisor' or 'technical writer' ensures its responses align with the expertise you require. Define the AI's role or persona. For example, instructing the AI to act as a 'financial advisor' or 'technical writer' ensures its responses align with the expertise you require. Action: Specify the task with clear, actionable instructions. Instead of vague directives like 'Write about technology,' use precise commands such as 'Draft a blog post on the benefits of 5G technology for small businesses.' Specify the task with clear, actionable instructions. Instead of vague directives like 'Write about technology,' use precise commands such as 'Draft a blog post on the benefits of 5G technology for small businesses.' Setting: Provide context, audience details, and constraints. For instance, specifying the target audience (e.g., 'college students') and the medium (e.g., 'social media post') helps the AI tailor its response effectively. Provide context, audience details, and constraints. For instance, specifying the target audience (e.g., 'college students') and the medium (e.g., 'social media post') helps the AI tailor its response effectively. Tone: Set the desired style, personality, and voice. Whether you need a professional tone for a business proposal or a casual tone for a lifestyle blog, defining this upfront ensures consistency in the output. Set the desired style, personality, and voice. Whether you need a professional tone for a business proposal or a casual tone for a lifestyle blog, defining this upfront ensures consistency in the output. Lore: Include reference materials or examples. Supplying background information, such as company goals or previous successful campaigns, helps the AI align its responses with your objectives. Include reference materials or examples. Supplying background information, such as company goals or previous successful campaigns, helps the AI align its responses with your objectives. Expression: Define the format and structure of the output. Whether you need a detailed report, a bulleted list, or a conversational narrative, specifying this ensures clarity and usability. By addressing these six elements, the CASTLE framework provides a comprehensive guide to crafting prompts that yield high-quality, contextually relevant results. The Importance of Specificity in Prompt Engineering Specificity is the cornerstone of effective prompt creation. The more detailed and focused your prompt, the better the AI can deliver accurate and actionable outputs. Consider the following examples: Vague: 'Write about renewable energy.' 'Write about renewable energy.' Specific: 'Explain the advantages of solar energy for residential use, focusing on cost savings and environmental benefits.' The second example provides clear direction, allowing the AI to generate a more targeted and meaningful response. By applying the CASTLE framework, you can consistently achieve this level of precision, making sure that your prompts guide the AI effectively and produce the desired results. ChatGPT Prompt Formula Watch this video on YouTube. Browse through more resources below from our in-depth content covering more areas on ChatGPT prompts. Practical Applications of the CASTLE Framework The versatility of the CASTLE framework makes it applicable across a wide range of use cases. Here are some practical examples of how it can be used: Marketing: Create engaging ad copy, email campaigns, or social media posts tailored to specific audiences and platforms. Create engaging ad copy, email campaigns, or social media posts tailored to specific audiences and platforms. Content Creation: Develop blog articles, video scripts, or educational materials with a defined tone, structure, and audience in mind. Develop blog articles, video scripts, or educational materials with a defined tone, structure, and audience in mind. Business Strategy: Generate detailed reports, strategic plans, or proposals with clear objectives and actionable insights. By incorporating the CASTLE framework into your workflow, you can streamline recurring tasks, maintain consistency, and enhance the overall quality of your outputs. Enhancing Prompt Engineering with Tools and Resources Several tools and resources can complement the CASTLE framework, making the process of prompt creation more efficient and effective: Custom GPTs: Platforms like 'Cororai' automate the integration of the CASTLE framework into your prompts, saving time and effort. Platforms like 'Cororai' automate the integration of the CASTLE framework into your prompts, saving time and effort. Prompt Databases: Access libraries of pre-designed prompts for various use cases, such as creative writing, technical analysis, or customer support. Access libraries of pre-designed prompts for various use cases, such as creative writing, technical analysis, or customer support. Community Platforms: Collaborative spaces like Quest OS allow users to share best practices, refine techniques, and learn from others' experiences. These tools not only simplify the process of prompt engineering but also help you achieve consistent, high-quality results across different projects and applications. Expert Strategies for Optimizing AI Outputs To further enhance the quality and relevance of your AI-generated content, consider implementing these expert strategies: Build a Lore Library: Maintain a collection of successful outputs, reference materials, and examples to guide future prompts. Maintain a collection of successful outputs, reference materials, and examples to guide future prompts. Refine Continuously: Experiment with different prompt structures and adjust based on the AI's responses to achieve optimal results. Experiment with different prompt structures and adjust based on the AI's responses to achieve optimal results. Use Structured Formats: Presenting information in organized formats, such as tables or bullet points, improves clarity and usability. When combined with the CASTLE framework, these strategies can significantly improve the effectiveness of your prompts, making sure that the AI delivers outputs that meet your expectations. Expanding Beyond ChatGPT While the CASTLE framework is particularly effective with ChatGPT, its principles are universally applicable to all large language models. By emphasizing specificity, context, and structure, you can achieve high-quality outputs across various AI platforms. This adaptability makes the CASTLE framework a valuable tool for anyone looking to maximize the potential of AI in their work. Media Credit: Taylan Alpan Filed Under: Gadgets News Latest Geeky Gadgets Deals Disclosure: Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn about our Disclosure Policy.
The Independent
2 hours ago
- The Independent
DOGE sprouts in red states, as governors embrace the cost-cutter brand and make it their own
The brash and chaotic first days of President Donald Trump 's Department of Government Efficiency, once led by the world's richest man Elon Musk, spawned state-level DOGE mimicry as Republican governors and lawmakers aim to show they are in step with their party's leader. Governors have always made political hay out of slashing waste or taming bureaucracy, but DOGE has, in some ways, raised the stakes for them to show that they are zealously committed to cutting costs. Many drive home the point that they have always been focused on cutting government, even if they're not conducting mass layoffs. 'I like to say we were doing DOGE before DOGE was a thing,' Iowa Gov. Kim Reynolds said in announcing her own task force in January. Critics agree that some of these initiatives are nothing new and suggest they are wasteful, essentially duplicating built-in processes that are normally the domain of legislative committees or independent state auditors. At the same time, some governors are using their DOGE vehicles to take aim at GOP targets of the moment, such as welfare programs or diversity, equity and inclusion programs. And some governors who might be eyeing a White House run in 2028 are rebranding their cost-cutting initiatives as DOGE, perhaps eager to claim the mantle of the most DOGE of them all. No chainsaws in the states At least 26 states have initiated DOGE-style efforts of varying kinds, according to the Economic Policy Institute based in Washington, D.C. Most DOGE efforts were carried out through a governor's order — including by governors in Florida, Iowa, Louisiana, Montana, New Hampshire and Oklahoma — or by lawmakers introducing legislation or creating a legislative committee. The state initiatives have a markedly different character than Trump's slash-and-burn approach, symbolized by Musk's chainsaw-brandishing appearance at a Conservative Political Action Committee appearance in February. Governors are tending to entrust their DOGE bureaus to loyalists, rather than independent auditors, and are often employing what could be yearslong processes to consolidate procurement, modernize information technology systems, introduce AI tools, repeal regulations or reduce car fleets, office leases or worker headcounts through attrition. Steve Slivinski, a senior fellow at the libertarian Cato Institute who researches state government regulatory structures, said that a lot of what he has seen from state-level DOGE initiatives are the 'same stuff you do on a pretty regular basis anyway' in state governments. States typically have routine auditing procedures and the ways states have of saving money are 'relatively unsexy," Slivinski said. And while the state-level DOGE vehicles might be useful over time in finding marginal improvements, "branding it DOGE is more of a press op rather than anything new or substantially different than what they usually do,' Slivinski said. Analysts at the pro-labor Economic Policy Institute say that governors and lawmakers, primarily in the South and Midwest, are using DOGE to breathe new life into long-term agendas to consolidate power away from state agencies and civil servants, dismantle public services and benefit insiders and privatization advocates. 'It's not actually about cutting costs because of some fiscal responsibility,' EPI analyst Nina Mast said. Governors promoting spending cuts Louisiana Gov. Jeff Landry rebranded his 'Fiscal Responsibility Program' as Louisiana DOGE, and promoted it as the first to team up with the federal government to scrub illegitimate enrollees from welfare programs. It has already netted $70 million in savings in the Medicaid program in an 'unprecedented' coordination, Landry said in June. In Oklahoma, Gov. Kevin Stitt — who says in a blurb on the Oklahoma DOGE website that 'I've been DOGE-ing in Oklahoma since before it was cool" — made a DOGE splash with the first report by his Division of Government Efficiency by declaring that the state would refuse some $157 million in federal public health grants. The biggest chunk of that was $132 million intended to support epidemiology and laboratory capacity to control infectious disease outbreaks. The Stitt administration said that funding — about one-third of the total over an eight-year period — exceeded the amount needed. The left-leaning Oklahoma Policy Institute questioned the wisdom of that, pointing to rising numbers of measles and whooping cough cases and the rocky transition under Stitt of the state's public health lab from Oklahoma City to Stillwater. Oklahoma Democrats issued rebukes, citing Oklahoma's lousy public health rankings. 'This isn't leadership,' state Sen. Carri Hicks said. 'It's negligence." Stitt's Oklahoma DOGE has otherwise recommended changes in federal law to save money, opened up the suggestion box to state employees and members of the general public and posted a spreadsheet online with cost savings initiatives in his administration. Those include things as mundane as agencies going paperless, refinancing bonds, buying automated lawn mowers for the Capitol grounds or eliminating a fax machine line in the State Board of Licensure for Professional Engineers and Surveyors. Florida Gov. Ron DeSantis signed an executive order in February creating a task force of DOGE teams in each state agency. In the order, DeSantis recited 10 points on what he described as his and Florida's 'history of prudent fiscal management' even before DOGE. Among other things, DeSantis vowed to scrutinize spending by state universities and municipal and county governments — including on DEI initiatives — at a time when DeSantis is pushing to abolish the property taxes that predominantly fund local governments. His administration has since issued letters to universities and governments requesting reams of information and received a blessing from lawmakers, who passed legislation authorizing the inquiry and imposing fines for entities that don't respond. After the June 30 signing ceremony, DeSantis declared on social media: 'We now have full authority to DOGE local governments.' In Arkansas, Gov. Sarah Huckabee Sanders launched her cost-cutting Arkansas Forward last year, before DOGE, and later said the state had done the 'same thing' as DOGE. Her administration spent much of 2024 compiling a 97-page report that listed hundreds of ways to possibly save $300 million inside a $6.5 billion budget. Achieving that savings — largely by standardizing information technology and purchasing — would sometimes require up-front spending and take years to realize savings. ___
