Speaker 1: Bloomberg Audio Studios, podcasts, radio news, single.
Speaker 2: Best idea on a Friday in the summer. But it's
Speaker 2: not a normal Friday in the summer. There have been
Speaker 2: other August Fridays. Nineteen ninety eight is seared in my memory.
Speaker 2: It was something I've had the honor not once but
Speaker 2: twice to speak at length with the Nobel Laureate Myron
Speaker 2: Shoals about the August of nineteen ninety eight, to speak
Speaker 2: to cliff Asnas John Boegel about it extraordinary. This isn't
Speaker 2: like nineteen ninety eight, but what we have all been
Speaker 2: through in the last ten days is just absolutely extraordinary.
Speaker 2: I'm not going to take time here in a six
Speaker 2: minute podcast to go into the details or frankly my
Speaker 2: thoughts on it, but the resiliency, the depth of the
Speaker 2: American financial system is jaw dropping. I mentioned Arthur Levitt,
Speaker 2: of course, of Bloomberg, the former SEC chairman who brought
Speaker 2: stability to the individual investor, and I really think some
Speaker 2: of this depth started with his first principal work at
Speaker 2: the SEC years ago. Kaptain Kaminski is absolutely expert at
Speaker 2: this prodigious academics out of the Massachusetts Institute of technology
Speaker 2: trend was shattered. Katie Kaminski on trend.
Speaker 3: What happens when you have such a big move is
Speaker 3: that its trend signals a lot. So you have to
Speaker 3: think a little bit about the type of trend filter
Speaker 3: that you're using. Some models are going to be much
Speaker 3: more like your classic moving averages, and those really adjust
Speaker 3: aggressively when you have that type of move. But you
Speaker 3: can also use other types of models that may sort
Speaker 3: of windsor eyes or remove some of the outliers, and
Speaker 3: those may not be as much affected. But the truth
Speaker 3: is there may be information in this recent event that
Speaker 3: could be foreboting for potential trends to come.
Speaker 2: Katie Kaminsky off simplex. I can't say enough about this.
Speaker 2: There's two basic types of trading and investing. What is
Speaker 2: trend based, where you get you know, you have a
Speaker 2: belief system, and you get on a trend, and you
Speaker 2: stand the trend, the trend's broken, you get out. I mean,
Speaker 2: we all understand that. The other is what's called stochastics,
Speaker 2: which is trying to be much more cute, much more
Speaker 2: find the perfect point less get in the trend and
Speaker 2: find the perfect moment. Of course, the cliche is to
Speaker 2: catch a falling knife in the dark. But stochastics versus
Speaker 2: trends and everything I've done here with Bloomberg on the
Speaker 2: economy in Bloomberg's surveillance is about trend following, trend persistency,
Speaker 2: and a great respect for getting out when the trend
Speaker 2: is shattered. Kaminsky hesitant, but I really have say still
Speaker 2: says there is a bull market trend that is hugely
Speaker 2: in sync with IF. In devot of Monetta, arguably the
Speaker 2: most prestigious academics of anyone we speak to. Her set
Speaker 2: of academic excellence out of Ireland, out of the United
Speaker 2: Kingdom is jaw dropping her work. Really, I really really
Speaker 2: listen to IF and devt really with some great perspective
Speaker 2: here she is on into twenty twenty five.
Speaker 4: Yeah, I'm not going to I think sixty forty to
Speaker 4: use your expression no longer cuts the mustard. It would
Speaker 4: be clearly a balanced portfolio that has gone somewhat out
Speaker 4: of favor. We saw that in twenty twenty two. Both
Speaker 4: sides of that portfolio behave poorly, and now we have
Speaker 4: a situation where even the smallest retail vester is starting
Speaker 4: to look around the corner at alternatives so I wouldn't
Speaker 4: say sixty forty. I would actually advocate for far more
Speaker 4: diversification today than than sixty forty. But I also wouldn't
Speaker 4: say staying in cash is going to work so well
Speaker 4: when we all know that interest rates are coming down.
Speaker 2: Evan Dubitt of Mondetta, what a joy. Last week they
Speaker 2: have David Gura, surveillance lobster correspondent. We got a huge
Speaker 2: response to that August tradition, so much so that Gura
Speaker 2: sent in a photograph from Reds was cast it what
Speaker 2: he does. You can't believe this, Boks. I mean, you
Speaker 2: talk about criminal activity. Gura and missus Gurra leave the
Speaker 2: kids in the line at Reds which stretches halfway to
Speaker 2: Calais while they go antique shopping, and wiscast it. It's unbelievable,
Speaker 2: the cruel and unusual punishment. And we said good morning
Speaker 2: to Reds and all the great lobster houses that are
Speaker 2: part of the surveillance world. This week it was the
Speaker 2: image of hot dogs and what does that mean? Thank
Speaker 2: you to the Warrington family, Mamaronick, New York, just north
Speaker 2: of New York City. Our w Apple Junior at the
Speaker 2: New York Times years Ago called it the best hot
Speaker 2: dog in America. It is a hot dog of one
Speaker 2: hundred and five years. Walter's Dogs celebrates their one hundred
Speaker 2: and fifth anniversary of employing kids in Mamarnac with muster Damien,
Speaker 2: says our expert on Walter's Dogs. Here is surveillance hotdog
Speaker 2: correspondent Eric Ween or Bloomberg News.
Speaker 5: It's a tiny little hot dog stand. It's been there forever.
Speaker 5: It's legendary. People do come from distances to go there,
Speaker 5: but it's really a locals thing. Like every little league's
Speaker 5: team goes there after they win. My Fabrica childhood exactly exactly,
Speaker 5: And the hot dogs are excellent. They like do this
Speaker 5: weird thing with the They like dip them in butter
Speaker 5: or whatever, and then they put them on the griddle
Speaker 5: and oh it's awesome, and then they split it and
Speaker 5: so it's sort of crispy, and the bun is excellent.
Speaker 2: Gotta go, I'm hungry. So other is my childhood of
Speaker 2: this was swegelhots, reds and whites, zwigelhats and good morning,
Speaker 2: Don and Bob's in Western New York. I don't think
Speaker 2: it's there anymore. Walter's Dogs is there still and always forever.
Speaker 2: It's been a great week. Look for us on Android Auto,
Speaker 2: on Apple car Play. Look for us on YouTube. Blown
Speaker 2: away by the international success of what we're doing on YouTube.
Speaker 2: Particularly good evening to all of you on a Pacific
Speaker 2: rim This is on Apple podcast single best idea,