Here's your summary from Why High Stock Valuations Shouldn't Scare You Away (https://www.youtube.com/watch?v=wpLjyIh5Grg) on the Bloomberg Television channel:

**TLDR:** High stock valuations should not deter investors, as companies are actively building competitive advantages through cost reduction and customer loyalty initiatives.

1. Companies are proactively building competitive advantages through cost reduction and customer loyalty initiatives.

2. Investors should pay attention to what companies say about AI on earnings calls.

3. Stocks are a long-term income-producing asset that can hedge against inflation and uncertainties.

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