WEBVTT - Single Best Idea with Tom Keene: Richard Haass & David Rosenberg

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news. The single best idea.

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<v Speaker 1>I'm going to be quick here. Everyone here exhausted by

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<v Speaker 1>twenty four to seven, trying to fit in the guests

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<v Speaker 1>in a quiet December, and literally the fourteen stories that

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<v Speaker 1>are out there. Of course in this Tri state area,

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<v Speaker 1>with the leadership of John Tucker and Michael Barr, were

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<v Speaker 1>covering this terrible shooting at the Hilton Hotel. But far

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<v Speaker 1>more it is international relations. What we saw in France

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<v Speaker 1>Francine Lacroix conversation today with Marine Le penn and of

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<v Speaker 1>course in Korea as well. We've been focused on France,

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<v Speaker 1>but here on North and South Korea. In our President

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<v Speaker 1>elect Richard.

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<v Speaker 2>Hass Like the South Korean relationship with President Donald Trump

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<v Speaker 2>was was one of the worst relations between an American

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<v Speaker 2>ally and the United States. President really pushed hard about

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<v Speaker 2>why wasn't South Korea doing more to pay for US

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<v Speaker 2>troops there, concerns about the trade and balance and and

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<v Speaker 2>so forth so much and by the way, and threaten

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<v Speaker 2>to pull US forces out of South Korea. So if

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<v Speaker 2>he were to once again ratchet up the pressure, I

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<v Speaker 2>think the most likely reaction would be that South Korea

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<v Speaker 2>would think very seriously, indeed about developing nuclear weapons of

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<v Speaker 2>its own if it came to lose faith in the

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<v Speaker 2>United States. And that's the sort of thing that, among

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<v Speaker 2>other things, could cause a real crisis with China. So

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<v Speaker 2>there's a lot of potential dynamics.

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<v Speaker 1>Here over the holidays season. You know, you got the

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<v Speaker 1>kids at home and they're just like being mouthy or

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<v Speaker 1>whatever his kids can be. Throw them, don't hit them

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<v Speaker 1>in the head, but throw a Richard has book at them.

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<v Speaker 1>Go out to Amazon and look for Richard hass h

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<v Speaker 1>aa ss and he's got some wonderful, short, readable books

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<v Speaker 1>on America and on our civics. Can't say enough about those.

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<v Speaker 1>We had too many names to pick today. Wendy Schiller

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<v Speaker 1>was just brilliant on a fractured US Senate what we're

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<v Speaker 1>seeing within the transition from Biden to Trump. But just

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<v Speaker 1>as interesting from Canada. David Rosenberg join us, and this

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<v Speaker 1>is important. He's been very cautious over the years, and

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<v Speaker 1>there was a bullish tinge and optimism to David Rosenberg

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<v Speaker 1>his call on the market.

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<v Speaker 3>I'm still concerned over market positioning and sentiment is off

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<v Speaker 3>the charts, and I am expecting in your term correction.

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<v Speaker 3>The question is what you do if we get the

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<v Speaker 3>debt And I think that you'd want to buy the debt.

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<v Speaker 3>And I say that because I've been calling this a

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<v Speaker 3>bubble for a while. But it's maybe a bubble if

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<v Speaker 3>you look at trailing P multiples or one year four

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<v Speaker 3>P multiples. But if in fact we've had an inflection

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<v Speaker 3>point on the technology curve, if we've had a model

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<v Speaker 3>shift when it comes to what AI is going to

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<v Speaker 3>deliver in terms of future profitability and productivity, I'm thinking

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<v Speaker 3>that the market is sending you a message that it

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<v Speaker 3>has taken that investors a base, a lengthen their time horisons.

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<v Speaker 3>So all the classic evaluation metrics that I've been using,

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<v Speaker 3>I'm not going to say they're obsolete, but they're probably

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<v Speaker 3>just not relevant to today's backdrop.

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<v Speaker 1>David Rosenberg and Rosenberg research, and again in optimistic tone

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<v Speaker 1>about growth and what's out there, he does maintain a

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<v Speaker 1>disinflationary tendency. We maintain that we're part of your American commute.

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<v Speaker 1>Thank you so much for that. With Apple Car Play,

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<v Speaker 1>Morning ninety nine to one FM in Washington up to

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