Heaven is having the day off, being able to devote 3 hours to Bloomberg Surveillance, and the show being up to the task. Today is one of those magical days. Mike Wilson, Greg Peters, et al along with the Bloomberg panel leading compelling discussions. Thank you!
Eisman said something to the effect "the market is about STORIES." For example, WM coming up with a Great Value potato chip that can put PEP out of business. We needed an inflation price break, we didn't know where it would come from, but lo and behold, here it is. Okay, here's another economic STORY you will NEVER see on Bloomberg = EV. I'm not talking Tesla here folks! I'm talking about the 'last mile' EV revolution = eBike, scooter, skateboard, etc. This is a HUGE economy going on right now, and there are ZERO major players in it = all small businesses. And since Bloomberg is solely focused on Wall Street, publicly traded multinational companies. And because Bloomberg is even worse than that - singularly focused on the #1 flavor of the day (nVidia), you will NEVER see or hear anything about the last mile EV revolution (until amazon swoops in and consolidates all these small businesses) then it will become the Bloomberg singularly focused #1 flavor of the day.
@@HeathOverledger I had to stop watching. It was too distracting. I mean I was just imagining them being more focused on spending an hour putting on makeup rather than studying the financial markets/data. Guess I'll just do my own research or find another channel. It's not bad if they have some makeup on, but at the intro to the episode they had Four women talking at once and all four of they were plastered with makeup (or as I call it Fake-up) and all I saw was all the fake "beauty" products all over their faces and not what they were talking about. Glad I don't spend money on Fake-up products that society (beauty product) brands have conned society into believing that that's the way we (mostly women) have to look. Rather than just being themselves.
@<a href="#" class="seekto" data-time="96">1:36</a>:44 Greg Peters, PGIM. "The one thing that seems common wherever I look is there is more pressure for inflation than disinflation."
😂 fear sells I get It 😂 NVDA pulled back about the same in March and April then went on a tear. Anything can happen always it’s the market. Hey Pete you a spy, 😂😂😂JKing.
Gotta love Steve Eisman, Neuberger Berman: @<a href="#" class="seekto" data-time="104">1:44</a>:20 "Shorting a stock based solely on valuation is a death wish... you only short a stock if you think something is going to break." My personal fave short is PEP. WM has created a line of chips (not computer, but the kind you eat with your sandwich). Frito Lay quality selling everyday at highly discounted prices. Can't keep these Great Value chips on the shelf at the local WM I shop at. This has to be eating into PEP's revenues. Eisman makes a similar argument about software companies. AI generated software is going to reduce the cost of software considerably, and software companies are not going to generate as much revenue. A better mousetrap ALWAYS wins. The FED? Doesn't matter. The ELECTION? Doesn't matter. With regard to the FED, Eisman said something to the effect - when the FED was raising rates 500 basis points, it mattered. But a couple 25pt cuts won't mean much.
Eisman made another interesting point about "Oi the deficit." @1:56:54 "The U$D is the reserve currency of the world... We have the most liquid and best government bond market in the world. If you are anywhere on planet Earth and you need to park MONEY, you buy US Treasuries." In other words, the U$DEFICIT is just another word for MONEY, aka U$D! Until someone comes up with a better mousetrap, a better currency (bitcoin?), there is no alternative to a risk-free 5%!
@<a href="#" class="seekto" data-time="146">2:26</a>:50 Final word goes to Dani, who has been a fantastic addition to the panel (watch out Jonathan!): "For the moment - nVidia."
Whatever it takes to get Jon and Tom back together, even if it's on radio. We are wasting valuable time in the careers of Tom and Jon keeping them apart. All for what? So you can put Lisa and AMH over? Smh.
@<a href="#" class="seekto" data-time="3201">53:21</a> Mike Wilson, Morgan Stanley = the Peyton Manning of Wall Street. They look like twins! They even have the same voice!
This conversation with Mike Wilson is gold! You could build a college course around it. Hats off to the panel and Mr. Wilson. Perhaps the most telling aspect of the overall conversation = here you have one of Wall Streets most renowned permabears in Wilson, and he can't come up with anything (reasonable) that will stymie this economy. He pointed out three 'worries', the worst being WWIII over the Second Thomas Shoal.... When the only thing a permabear can come up with to stop this economy is WWIII, well, it sounds like someone running out of ideas.
I'm glad I watched the entire show. Look at Bloomberg, trotting out Moody's and Nuveen at the end of the show to - oh I don't know - offer up some kind of counterpoint? Malik can't keep from contradicting herself. "There's a recession around the corner." Better do SOMETHING! Then, in the same breath practically, "the FED isn't going to cut rates until they see multiple months..." Her wishful thinking is getting in the way of her analysis. Then you have Mark Zandi, Moody's. He shouldn't be allowed to show his face on TV. How soon we forget it was Moody's giving AAA+++ ratings to junk derivative securitized whatever instruments a few years back. Moody's is just another word for GFC = ZERO credibility. This company should stay in the shadows where it belongs, not showing its face in public. Zandi = Wall Street = of course he wants the FED to reduce rates. Both these analysts hell bent on making the case for a FED rate cut. Second quarter GDP down, so what? Look at the historical chart! In 2021 the second quarter GDP was over 6%. Then it 'dropped' to 3% in Q3. I'm sure both these analysts were on the talk shows back then saying "watch out." What happened in Q4 2021? GDP skyrocketed to 7%! But it gets even more nebulous, because in Q1 2022 GDP turned NEGATIVE! Bottom line: You (Malik, Zandi) cannot spin a single quarter into some longterm trend. (Unless, of course, you're a Wall Street trader whose very speculating day trading existence is pinned on cheap punchbowl interest rates) By the way, the Atlanta FED pegs 2024 GDP at 3%.
