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Speaker 2: This is some of my ute folks.
Speaker 1: Good morning, Samuel Coffin, the fabulous Mary Harris of Uboso
Speaker 1: built all the foundation there, and whoever originally he hired
Speaker 1: years ago, this young whipper snapper Drew Madis. And what's
Speaker 1: cool here is someone like maddest folks now over it
Speaker 1: meant life. It's like it's like it's like one soda.
Speaker 1: He went from the Padres to the Yankees.
Speaker 2: Over with the New York Yankees.
Speaker 1: Drew Madis gives me a research report from eight years ago.
Speaker 1: Drew Madis, why are you pulling out a UBS report
Speaker 1: from eight years ago my three favorite canaries tweet for us.
Speaker 3: Well, it's there's still some of the best things to
Speaker 3: look at in terms of whether the economy is improving
Speaker 3: or getting worse. And unfortunately, what we're seeing in those
Speaker 3: in those indicators, which are claims, the ism reports, and
Speaker 3: core bank loans are all signs that the economy is
Speaker 3: beginning to weaken, which I think has become more evident
Speaker 3: in things. But you know, with the idea of kind
Speaker 3: of the soft landing having taken hold or the no
Speaker 3: landing having taken hold, this is just something that I
Speaker 3: think points in the opposite direction and maybe suggests that,
Speaker 3: you know, weakness is going to be forthcoming.
Speaker 1: Well, we finally see it in the job report coming
Speaker 1: up here early June.
Speaker 3: I think we're going to see some weekend the jobs report.
Speaker 3: Our expectation is you're going to see the unemployment rate
Speaker 3: move higher over time. And you know, once again, you know,
Speaker 3: we do expect the FED to cut interest rates, but
Speaker 3: we expect the FED to cut interest rates because we
Speaker 3: expect the economy is going to be weakening. They're going
Speaker 3: to be cutting with inflation above their target.
Speaker 1: June seven, Elate Jobs report Paul Sweeney Change in non
Speaker 1: firm payables now one hundred and eighty thousand.
Speaker 4: Okay, survey. So, Drew, do you think the FED here?
Speaker 4: Do you think the Fed's kind of behind the curve
Speaker 4: a little bit here in terms of cutting interest rates?
Speaker 4: Or you know a lot of folks will come in
Speaker 4: here and talk to Tom and I and say, hey,
Speaker 4: they should just wait here. How do you think about it?
Speaker 3: I mean, I think there's an argument for waiting. But
Speaker 3: at the same point, you know, the Fen's pretty much
Speaker 3: always behind the curve. I mean, you know, there's no
Speaker 3: point in putting, you know, a doghound, you know, against
Speaker 3: the greyhound and backing the outcome to be any different, right,
Speaker 3: you know that the FED is the animal that they are,
Speaker 3: and they're going to be behind the curve. And the
Speaker 3: question is, you know, how, you know, how aggressive can
Speaker 3: they be when they don't know where things are going?
Speaker 3: And I think the answer is that they need to
Speaker 3: have a little bit more humility, which you know, I
Speaker 3: think if they had had that in the first place,
Speaker 3: we probably wouldn't have had the inflation rates that we've had.
Speaker 4: All right, So given that backdrop here again, rates likely
Speaker 4: coming down at some point earning seem to be pretty
Speaker 4: solid here. That seems to be pretty constructive background for equities.
Speaker 4: How do you guys think about that?
Speaker 3: Yeah, you know the problem is kind of you know,
Speaker 3: how much risk do you want to take when it
Speaker 3: seems like we're on the verge of a turn, and
Speaker 3: where will that turn show up? And will we be
Speaker 3: will it be as obvious to everyone when it happens.
Speaker 3: So you know, we've been in kind of a risk
Speaker 3: off mode for a while now, and I think that
Speaker 3: that's that surved us well. And I think you know
Speaker 3: probably where I would still be, although I will say,
Speaker 3: you know, when you're when you're trying to figure out
Speaker 3: at the turn where you're going to be, you know
Speaker 3: there are there are places you can be where you
Speaker 3: actually as soon as the turn happens, you want to
Speaker 3: be looking at those places. And so you know, we're
Speaker 3: trying to be or thinking about things in a more
Speaker 3: nimble way and see, you know where the greatest missed
Speaker 3: pricings are in the economy.
Speaker 1: Drew back to Colby College economics of a few years ago.
Speaker 1: In your sterling career. There's a whole idea of aggregating
Speaker 1: all the data together versus two, three, or even four Americas.
Speaker 1: Are you disaggregating now? Are you looking at an America
Speaker 1: of haves and have nots?
Speaker 3: You know, I've always been a fan of keeping the aggregate,
Speaker 3: and the reason being is because you know, if you
Speaker 3: if you disaggregate in that way, you're basically saying that
Speaker 3: one group of people can't do a job another group
Speaker 3: of people can do. And I think increasingly, uh, you know,
Speaker 3: we're seeing actually that you know, with new technologies, you know,
Speaker 3: people can do things that you know, maybe they weren't
Speaker 3: weren't possible before. The only reason to disaggregate now is
Speaker 3: is because it seems like, you know, the savings rate
Speaker 3: among one group of the higher end cohort income cohort
Speaker 3: is really strong. Uh and and there's some excess money there.
Speaker 3: Uh And so we need to be if we're going
Speaker 3: to see weakness, it's going to be there first. Right.
Speaker 3: We already know there's weakness in certain other areas. But
Speaker 3: the people who drive the economy or the people who
Speaker 3: can change their savings rate. So you know, if if
Speaker 3: people are going in and they're getting either government support
Speaker 3: or they're spending one hundred percent of what they make,
Speaker 3: you know, those people don't have the ability to adjust
Speaker 3: their their spending. They just adjust what they're spending on.
Speaker 3: The higher income cohorts have the ability to actually, you know,
Speaker 3: increase savings, decrease savings, which then boost the economy or
Speaker 3: reduces the economy. The good news for the FED, quite
Speaker 3: frankly is tenure yields are basically at the optimal point
Speaker 3: to maximize spending.
Speaker 1: Interesting, where are they going to be in twelve months?
Speaker 1: I mean, I mean that's the ultimate calling.
Speaker 3: So we actually, like ski relatively stable around here. But
Speaker 3: you know, once again, though, if they go higher, people
Speaker 3: begin to save because they feel the need to. If
Speaker 3: they go lower, they actually need to save more because
Speaker 3: people think about retirement and they think about the yield
Speaker 3: they are going to get in retirement, and so they
Speaker 3: adjust to try to basically get to an income stream
Speaker 3: and retirement. And that's the failure of the zero rate
Speaker 3: policy is that if you push rates too low, train
Speaker 3: inhibit spending.
Speaker 2: Doramatis, thank you so much.
Speaker 1: With MetLife, Greg Daco joins right now, e y parthenon.
Speaker 4: Greg.
Speaker 1: It's a you know, quiescent maybe doesn't capture it. It's
Speaker 1: sort of an on plan report, but one point three
Speaker 1: percent real GDP is that on the edge of stagflation.
Speaker 5: Now, I don't think it's on the edge of stagflation
Speaker 5: because of the composition of this GDP print.
Speaker 2: What we saw was.
Speaker 5: Again a very large trade drag, a drag from higher
Speaker 5: net imports. That is not necessarily a bad thing. It
Speaker 5: indicates that there was still demand from a consumption perspective,
Speaker 5: from a business investment perspective, So I think I would
Speaker 5: fade the headline GDP print, which is soft at one
Speaker 5: point three percent, and focus on final demand from private
Speaker 5: purchasers that is still trending around three percent. It's still
Speaker 5: a robust economy, but we're seeing a little bit more
Speaker 5: scrutiny on the part of consumers in this high cost environment.
Speaker 2: Yeah, but this is religion to me, folks.
Speaker 1: We're talking domestic final sales as a general statement. It's
Speaker 1: something you flunk any kind one oh one, Greg doctor
Speaker 1: didn't flunk it. But the answer is you peel out
Speaker 1: a sports you peel out the noise, maybe appeel out
Speaker 1: the silliness of inventory dynamics, and you got a run
Speaker 1: rate in America that Paul Sweeney sees every weekend of
Speaker 1: like a three percent GDP, right, Greg.
Speaker 5: Yeah, you've got about three percent GDP growth when you
Speaker 5: peel out to all those factors. I would also note
Speaker 5: that today we got the GDI report that gross domestic
Speaker 5: income number which rows one point five percent. So even
Speaker 5: though you have to nuance some of the underlying factors
Speaker 5: in terms of the headline GDP print, gross domestic income
Speaker 5: continues to point towards that softening momentum in terms of
Speaker 5: the economy.
Speaker 4: If you look at consumer.
Speaker 6: Spending data, also showing consumers exorciving more scrutiny, being more
Speaker 6: careful as to what they spend on, and you're seeing
Speaker 6: the lower income consumers, younger generations, consumers that are more
Speaker 6: indebted that are feeling the pressure at high interest rates
Speaker 6: and high prices and curbing their outlays in this environment.
Speaker 5: So that's what I would expect to see as we
Speaker 5: navigate into the second parl.
Speaker 1: As we do on surveillance, we go to the younger generation.
Speaker 1: Lisa Matteo, are you curbing your consumption?
Speaker 7: I'm trying my very best.
Speaker 2: Going down in flames out. Thank you. That's the last
Speaker 2: time we'll speak to the generation today.
Speaker 4: Paul, Hey, Greg talk to us about kind of your
Speaker 4: view of the consumer here. I'm just looking at some
Speaker 4: Cohal's numbers that came in weaker than expected. Target was
Speaker 4: also a little bit weak, but Walmart was okay. So
Speaker 4: I mean, how are you guys viewing the consumer out there?
Speaker 5: I think we have to depart a little bit from
Speaker 5: this view of the consumer. I think there are multiple
Speaker 5: types of consumers, and we're increasingly seeing a bifurcation in
Speaker 5: the economy. We're seeing individuals at the lower end of
Speaker 5: the income spectrum, those as I just mentioned, that have
Speaker 5: higher debt burdens, that are perhaps maxing out on their
Speaker 5: credit lines, that have larger debt amounts and perhaps less
Speaker 5: savings to buffer any type of slowdown in the labor market.
Speaker 5: Those are the ones that are a little bit more careful,
Speaker 5: more prudent with how they spend, that is gradually moving
Speaker 5: up into the income labd And if we do see
Speaker 5: and I'm not saying this will materialize, but if we
Speaker 5: do see more pronounced slow down in the labor market,
Speaker 5: that could pretend to slower income momentum and in turn
Speaker 5: force even a more pronounced slowdown in consumer spending activity,
Speaker 5: which by itself would actually be a good thing. On
Speaker 5: the inflation front, because it would promote those dift inflationary
Speaker 5: burnts that we've been seeing.
Speaker 4: All Right, Greg, given that that backdrop, do you think
Speaker 4: the SPED should be cutting rates now or like a
Speaker 4: lot of folks say, they should just be sitting on
Speaker 4: the sidelines and wait, what do you think?
Speaker 5: I think a lot of attention, perhaps too much attention,
Speaker 5: has been given to this first rate cut. Nothing says
Speaker 5: that once the FED starts to cut, or the ECB
Speaker 5: or the Bank of England or the Bank of Canada,
Speaker 5: they have to cut at every meeting or every other meeting.
Speaker 5: Nothing is predetermined in this environment. But I do think
Speaker 5: that if you look at the broader picture and have
Speaker 5: more of a forward looking perspective, with this view of
Speaker 5: the economy gradually slowing disinflationary pressures fill in the works,
Speaker 5: the FED could very well start easing monetary policy.
Speaker 4: Now.
Speaker 5: Takes some time to evaluate how the economy is evolving.
Speaker 6: But be on the right step.
Speaker 5: In the case the economy slows faster than what has
Speaker 5: been expected. We've been riding this good wave of robust
Speaker 5: economic data, painless disinflation. I think we have to be
Speaker 5: very careful to assume that this will continue forever. We
Speaker 5: are seeing signs of cost fatigue, high interest rates, more
Speaker 5: cautious business investment starting to weigh in the economy, and
Speaker 5: we have to be prepared.
Speaker 1: And now, folks home economics with Gregory doco, Ey, greg
Speaker 1: this isn't the zeitgeist right now, and some of us
Speaker 1: are living it.
Speaker 2: I'm going to be an amateur here.
Speaker 1: Renter's insurance is in CPI, but homeowner's insurance sort of
Speaker 1: kind of like is not calculated in CPI. And I
Speaker 1: go to CPS reporting four or five, six months ago.
Speaker 1: The basic idea that ninety percent of the homes in
Speaker 1: New Jersey's Ocean County and nearly sixty percent of the
Speaker 1: homes in Monmouth County all right risk of higher insurance premiums.
Speaker 1: We go to our New Jersey premium expert, Paul Sweeney.
Speaker 1: What premium is homeowners premium right now in the premium
Speaker 1: state of New Jersey.
Speaker 4: And I'm a solid five blocks from the beach, so
Speaker 4: I'm paying my fair share. My former home in California toime,
Speaker 4: it was in a fire area, so I was covered
Speaker 4: with regular insurance until about three or four years ago,
Speaker 4: and they said nope, you're now in the fire area.
Speaker 4: So I had to go to Lloyd's of London to
Speaker 4: get insurance, did you yeah? I mean those are the
Speaker 4: people that ensure ships that go like in the Red Sea.
Speaker 1: Did you stop by Gregs and Heaven and the Chase?
Speaker 1: Craig Doco, this is ridiculous homeowner's insurance. A guy like
Speaker 1: Michael Barr has been play crushed.
Speaker 2: Was six deer in the backyard from a homeowner's insurance?
Speaker 2: Greig Doco?
Speaker 1: How do we put homeowners insurance that we're all getting
Speaker 1: killed on into CPI?
Speaker 5: I think we have to be very careful with insurance
Speaker 5: in general, both homeowner insurance and car insurance. And wonder
Speaker 5: whether these are the types of pressures that the FED
Speaker 5: should be fighting. Should the FED be focused on these
Speaker 5: components of CPI, inflation of inflation in general as to
Speaker 5: essentially try to curb inflation and bring inflation back towards
Speaker 5: that two percent target. There are open questions as to
Speaker 5: whether the FED wants to squeeze other components to offset
Speaker 5: the fact that they can't control that.
Speaker 1: There's no textbook you or I studied that says the
Speaker 1: FED can surgically control selected inflation items.
Speaker 5: Exactly, and you've probably given the blunt tools and the
Speaker 5: uncertain lags in terms of monetary policy. That's why I'm
Speaker 5: not necessarily sure that you want to have monetary palsy
Speaker 5: remain higher for longer, tighter for longer. In this type
Speaker 5: of environment where a lot a large part of what's
Speaker 5: driving inflation today is structural by nature. Homeowner insurance prices
Speaker 5: are not rising because of inflationary dynamics, rather because you
Speaker 5: have climate change, you have conditions that are shifting. Same
Speaker 5: on the automotive front, not necessarily sure that the fact
Speaker 5: can do much about these types of inflation dynamics.
Speaker 1: On the anniversary of the release of Just What I
Speaker 1: Needed by the Cars from Boston University and Ey Craig Daco,
Speaker 1: thank you so much, just absolutely brilliant different.
Speaker 2: This timely interview coming.
Speaker 1: Up, we are going to consider the legal issues of
Speaker 1: Lower Manhattan. David Gerr there, I think June Grosso's is
Speaker 1: June's scheduled to be with us as well.
Speaker 2: Did we talk to her people?
Speaker 4: I think do you think she does the afternoon shift?
Speaker 2: I don't know.
Speaker 4: Studio here right now.
Speaker 1: Ethan Devit joins Chief Global Strategist Manetta Group, with a
Speaker 1: really really solid understanding of the turn of markets out
Speaker 1: of the United Kingdom. Thank you so much for joining
Speaker 1: right now. Can we sustain global nominal GDP? Can we
Speaker 1: keep this good feeling going?
Speaker 8: It's going to be difficult to sustain that. I mean,
Speaker 8: we clearly have exceeded expectations in terms of where GDP
Speaker 8: has been, coming down to one point three percent. I'd
Speaker 8: say that's in the category of nothing to write home
Speaker 8: about right now. So it's definitely is more muted and
Speaker 8: perhaps more in line with how the economy should feel
Speaker 8: after it's just experienced a soft landing. We know that
Speaker 8: it's quite mixed. That number as a top line number
Speaker 8: will perhaps distort quite a bit of variability behind the
Speaker 8: scenes among different sectors. So no, I'd say we're pretty
Speaker 8: much holding on by the skin of our teeth to
Speaker 8: a positive number right now.
Speaker 1: How do you define stagflation? Do we know how Jamie
Speaker 1: Diamond defines it?
Speaker 2: Paul, I don't think.
Speaker 4: I don't.
Speaker 1: People throw this thing around, and I mean we're talking
Speaker 1: here with somebody with some qualifications including Trinity College, Dublin,
Speaker 1: a school called Oxford. You know, it's just done pretty
Speaker 1: pretty insient in France. I mean, how do you define stagflation?
Speaker 8: Well, at So's I would like to say, I was
Speaker 8: born in the era when it was last popular. It's
Speaker 8: stagnation plus inflation. That's my understanding. It's been forecast for
Speaker 8: most of my life, but it hasn't actually transpired. And
Speaker 8: I'd say now we're hardly on either side of it.
Speaker 8: We're seeing neither stagnation nor are we seeing persistent inflation
Speaker 8: any longer. So I'd say that term has perhaps lost
Speaker 8: its purpose just at the moment. We have other problems
Speaker 8: certainly ahead of us, and that is is how we
Speaker 8: deal with perhaps not having had this fallout, not having
Speaker 8: had this recession. You know, how real essentially is this
Speaker 8: growth you mean, and how sustainable is that? But I'd
Speaker 8: say inflation for now somewhat in the rear view mirror.
Speaker 4: All right, If that's in the rearview mirror. Even as
Speaker 4: a chief global market strategist, where do you see opportunities
Speaker 4: on a global scale.
Speaker 9: Well, it's interesting.
Speaker 8: We've always been global investors, and that has been a
Speaker 8: very difficult position to maintain because we have had high
Speaker 8: conviction outside the US, even at a time when the
Speaker 8: dollar was strong and there was persistent under performance. So
Speaker 8: what we are cheered to see is that there has
Speaker 8: been this broadening of the market strength, and we still
Speaker 8: see that even though that there is there's been a
Speaker 8: come back in the last few days. We can see
Speaker 8: that there has been a broadening beyond tech, a broadening
Speaker 8: beyond large cap only into mid cap and small cap,
Speaker 8: and certainly beyond the US. We've seen some decent performance
Speaker 8: out of Europe, decent performance out of the UK finally
Speaker 8: after lagging for about fourteen months there, and then of
Speaker 8: course stellar performance from Japan, and a resurrection of hope
Speaker 8: and expectation around China post COVID and post some of
Speaker 8: that overhang. So I'd say we're seeing this kind of
Speaker 8: commonality now of themes on a global basis. Where do
Speaker 8: we see opportunity. We see it in the divergence in
Speaker 8: the fact that the dollar cannot stay long forever. We've
Speaker 8: seen some weakening there. We start to see divergence among
Speaker 8: central banks and how they're likely to perform. Who's going
Speaker 8: to go quickly on as a perform I mean, what
Speaker 8: they're likely to do in terms of the interest rates.
Speaker 8: ECB likely to go before either Bank of England or
Speaker 8: the fed that's leading to some divergence which will manifest
Speaker 8: in the currencies. So that's where we're seeing it. And
Speaker 8: then of course you have single stock areas like say
Speaker 8: the Novo Nordisks of this world that clearly are stellar
Speaker 8: success stories. And if you do not have global exposure,
Speaker 8: you do not have the optionality that exposure to that
Speaker 8: would give you.
Speaker 4: But I think if if I were a portfolio manager,
Speaker 4: even I think I'd be very lazy. I think what
Speaker 4: I would do is just go by big tech and
Speaker 4: then stick my head in the send and hope for
Speaker 4: the best. I mean, and that's kind of worked for me.
Speaker 8: I guess we should never underestimate what's sitting in a
Speaker 8: room and doing nothing, I think, which is always been
Speaker 8: perhaps the good response in riding out some of this volatility.
Speaker 8: The problem with that is this is a momentum trait,
Speaker 8: and chasing momentum has often ended in tears for investors.
Speaker 8: So we have not been too tactical, try to be
Speaker 8: too clever around this momentum. We're even seeing signs of
Speaker 8: that spending is highly selective right now that if we
Speaker 8: look at CAPEX beyond spending say on cybersecurity and on
Speaker 8: tech or on AI investments. Ppex is actually coming down
Speaker 8: in other areas. So that's the story for corporates, that's
Speaker 8: the story for consumers. We see that in the salesforce numbers,
Speaker 8: in the American airlines numbers, and we're going we're interesting
Speaker 8: to see what Costco comes out with today. But I
Speaker 8: suspect on the food side people are still spending well,
Speaker 8: but selective spending is the order of the day, So
Speaker 8: there will be some cracks in the AI.
Speaker 9: Theisis because quite frankly.
Speaker 8: No one really knows where we're going with this in
Speaker 8: terms of its impact. There's a lot of hype and momentum,
Speaker 8: so all in there would be a precarious position across.
Speaker 1: A kitchen table and Ethan, I mean in the United Kingdom,
Speaker 1: you've brought in some Gregs, the cheese.
Speaker 2: And the onion roll, and you're there with tea not coffee.
Speaker 2: I'm sorry, brown stuff.
Speaker 1: But if you're there across a kitchen table right now
Speaker 1: and you've missed this equity surge, how do you get
Speaker 1: into the market into the summer of twenty twenty four?
Speaker 8: Great question, Well, first question, you get in how you
Speaker 8: always get in, which is gradually and staggering, and I
Speaker 8: don't mean staggering as if you consume too much of
Speaker 8: that ale, but you know staggering and the way we
Speaker 8: all at all a cost averaging, and that that is
Speaker 8: of course how you do it. You definitely want to
Speaker 8: have that spread out around the time of a geopolitical event.
Speaker 8: We have elections in the UK on Independence Day on
Speaker 8: the fourth of July, There'll be elections here in early
Speaker 8: November in the US and early November, so clearly we
Speaker 8: need to be mindful that those events are likely to
Speaker 8: cause some volatility in markets, and we're already seeing that
Speaker 8: in the volatility and fixed income that will manifest inequity markets.
Speaker 8: So you stagger entry. You then make sure that it
Speaker 8: is broad based across sectors. You don't try to be
Speaker 8: too tactical, because ultimately we can't predict where different sectors
Speaker 8: are going to be, but we do know that certainly
Speaker 8: by the way Passive is performing, that is certainly a
Speaker 8: broad based exposure is the way to be even devid.
Speaker 2: Thank you so much. Chief Global Strategus Minetta Group. Just
Speaker 2: love to have her on this morning. You tell you
Speaker 2: look at the front pages. She's never been in a
Speaker 2: golden Goose. But boy does she have some.
Speaker 7: Newspaper stories to that will everywhere those given word.
Speaker 9: Yeah, all right, We're gonna start with this story.
Speaker 7: It came out yesterday the New York Times, CNBC reporting
Speaker 7: Nelson Peltz no longer an investor in Disney. You remember
Speaker 7: the battle to get on Disney's board, right, He controlled
Speaker 7: three and a half billion dollars in Disney snock, So
Speaker 7: this is kind of taking that pressure off Disney. So
Speaker 7: a big part of his chunk was owned by Ike
Speaker 7: Pearl Mutter. He's a former chairman of Marvel Entertainment. So
Speaker 7: Sorcerers saying that Pelts has now sold off his.
Speaker 9: Portion of those shares. But here's the thing.
Speaker 7: I mean, he's not going away empty handed because Disney
Speaker 7: stocks risn't about fifteen percent in the past year. SORCER's
Speaker 7: saying he sold his Disney snock at one hundred and
Speaker 7: twenty dollars a ship.
Speaker 2: I'll jump in here.
Speaker 1: Ten year return on Disney is three point seventy five
Speaker 1: percent per year yep, for the last ten years. What
Speaker 1: Pelts got out of this with a profit, right he did?
Speaker 4: It was amazing.
Speaker 2: Did Eiger get out of this with a proct.
Speaker 4: Well still to be seen at you know, Al from Jersey.
Speaker 4: I'm not sure if he came out with a profit either.
Speaker 4: But again, this is just a real challenging issue for
Speaker 4: Disney and for the meat industry in general. Tom. They're
Speaker 4: trying to figure out how do they make a business
Speaker 4: out of this.
Speaker 1: Stream I've always said this someday when Lisa helped me here.
Speaker 1: They all came out with the streaming and I'm about
Speaker 1: ready to cancel two or three of them, and I'm
Speaker 1: going mental this weekend.
Speaker 2: But the bottom line is Disney.
Speaker 1: I look at is okay, Star Wars and lots of
Speaker 1: Cinderella and all the rest for kids.
Speaker 2: What does the new Disney look like?
Speaker 4: I think the new Disney looks like a theme park
Speaker 4: company with some media assets. No, but I mean the
Speaker 4: streaming service streaming services.
Speaker 2: Look at the chick lits on your TV.
Speaker 4: Well, yeah, I know Hulu, I know, I know Netflix.
Speaker 2: What's Disney?
Speaker 7: Well, the Mandalorian is their big push too, I mean yeah,
Speaker 7: Star Wars.
Speaker 4: Yeah, it's all the franchisees, Like, yeah, they're gonna try
Speaker 4: to milk their franchises as they should because they have
Speaker 4: their best franchises in Hollywood. But even that they've seen
Speaker 4: some pushback on some of their franchises that maybe they've
Speaker 4: overdone it, oversaturated it, so they pushed some of those
Speaker 4: movie releases back. But Nelson Peltz, he made a couple
Speaker 4: shekels on that investment.
Speaker 7: Yeah for next Okay, you know that big ginormous residential
Speaker 7: tower four thirty two Park.
Speaker 9: Okay, it's tall, it's thin.
Speaker 4: Central Park, if you're lying in Central Park, shortly.
Speaker 7: The tallest residential building in the Western Hemisphere.
Speaker 9: Okay, it had that. It had people like Jennifer Lopez
Speaker 9: lived there. Okay, so it had his big reputation. But
Speaker 9: now apparently it's going through some problems.
Speaker 7: It had a twenty twenty one lawsuit that Condominimum Board
Speaker 7: that says there were noise issues, leaks, malfunctioning elevators. So
Speaker 7: the problem is that a lot of the people who
Speaker 7: owned are now trying to get out of it, and
Speaker 7: they're lowering their prices. So since the lawsuit, there's been
Speaker 7: a number of units for sale, homeowners unloading properties for
Speaker 7: a loss, even would be sellers cutting prices.
Speaker 4: I'm looking for a unit there for Tom Keane. The
Speaker 4: Building's pen House. Building's Penhouse was recently a discount to
Speaker 4: one hundred and five million, down from the original asker
Speaker 4: price one hundred and sixty nine million. So I think
Speaker 4: we're getting down into the TK level here to get
Speaker 4: the Penhouse, which does have phenomenal use.
Speaker 1: That's great about it is if you're there and I
Speaker 1: can take the Aston Martin across the street to the
Speaker 1: Eston Martin dealer show.
Speaker 4: Yeah, there you go. Convenience.
Speaker 1: But this building for those of you across the nation,
Speaker 1: this building is on Fancy Park Avenue, right down the
Speaker 1: street from James Diamond's new tower, farther up from Griffin's
Speaker 1: Tower to be built over the next six years. The
Speaker 1: other towers Paul are sort of in the middle of nowhere.
Speaker 4: In fifty seven. Yeah, I don't get it. And again,
Speaker 4: if you're sitting if you're literally lying down in the
Speaker 4: in the in the park Central Park catching some rays
Speaker 4: on a summer day, the sun will be blocked by
Speaker 4: some of these buildings. It's just ridiculous.
Speaker 9: I mean, it's just the whole landscape of the sky line.
Speaker 2: Don't get me gone. Yeah, I'll get next.
Speaker 4: Let's move on, all right.
Speaker 7: So how about this apple looking to kind of set
Speaker 7: aside its rivalry with Android because they want to put
Speaker 7: Apple TV Plus possibly onto androids.
Speaker 9: So this is a big thing. Bloomberg is saying.
Speaker 7: There was a job posting that shows they were looking
Speaker 7: for the senior engineer to help build a television and
Speaker 7: sports app for Android, and the reason is because it
Speaker 7: competes with the iOS platform. So this is a big
Speaker 7: thing for Apple.
Speaker 9: To go onto an Android. So that's what they're talking about.
Speaker 7: But they never Apple tv plus never talks about how
Speaker 7: many subscribers they have or how much revenue. But Android
Speaker 7: could really give it that boost because Android actually has
Speaker 7: more users globally Apple.
Speaker 4: In the Sweeney household, we have one of our offspring
Speaker 4: is Android and the rest of the staple. Yeah, just one.
Speaker 4: And so he's shunned. He's not in any of the groups.
Speaker 2: Everybody else's.
Speaker 4: Yeah, he's at Lockheed. He's Rocket scientists, and he says
Speaker 4: it's superior to iOS before we.
Speaker 1: Just look, I got the same what's interesting about this? Sleep,
Speaker 1: So I'm so glad you put this in here quickly, Paul.
Speaker 1: This thing coming up in June with Apple. Yeah, and
Speaker 1: I think the bombshell is going to be with Google.
Speaker 4: That's I couldn't Yeah, yeah, so my amateur prediction. And
Speaker 4: as Tom's referencing, they have a developer conference June tent
Speaker 4: for Apple and a lot of folks are saying this
Speaker 4: is going to be the AI event for Apple.
Speaker 2: One more quickly.
Speaker 7: Next, yes, sure, screen time before bed? When do you
Speaker 7: turn off your screens?
Speaker 9: Is it like an hour?
Speaker 1: Two?
Speaker 4: No phone's in the bedroom?
Speaker 7: No phones in the bedroom? Good for you, okay, because
Speaker 7: there was that rule. No, maybe two hours before bed
Speaker 7: to turn it off because it can. The problem is
Speaker 7: that it suppresses melatonin, so it doesn't let you fall
Speaker 7: asleep as easily. But now they're study saying that that
Speaker 7: might not be true, so some people could be more
Speaker 7: sensitive to the blue light than others. They're saying it
Speaker 7: varies depending on person to person, so you don't have
Speaker 7: to follow that role if you want. There are some strategies.
Speaker 9: Here's what you can do.
Speaker 7: You can set an alarm on your phone so that
Speaker 7: it goes off when you have to go to bed.
Speaker 7: You turn off your notification please time. I know my
Speaker 7: husband's unifications wake me up in the middle of the night.
Speaker 9: I hate it. It's annoying.
Speaker 7: Please, And you can keep a sleep journal, Tom a
Speaker 7: sleep sleep journal. Yes, you can say what works and
Speaker 7: what doesn't work for you so you can get some
Speaker 7: better sleep trash.
Speaker 1: You can't even say it with a straight because a
Speaker 1: sleep journal.
Speaker 2: Thank you so much.
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