WEBVTT - Single Best Idea with Tom Keene: Wei Li & Leslie Vinjamuri

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>A single best idea, what an odd Monday? Always after

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<v Speaker 2>a jobs report. It's an odd Monday after the huge

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<v Speaker 2>flow of data that we get out of the labor

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<v Speaker 2>economy on a given Friday, but this one more so

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<v Speaker 2>with the President planning a trip to China on Wednesday,

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<v Speaker 2>but just great conversations. It was sort of this word

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<v Speaker 2>a nudjie day, is how I'd put it. But around

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<v Speaker 2>that there were some really really smart conversations, many thanks

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<v Speaker 2>to Dan Ives from London. He had to work to

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<v Speaker 2>get on the zoom and all that stuff, but dan

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<v Speaker 2>Ives was really wonderful as he lifts his estimate on

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<v Speaker 2>Apple computer Tally Laziere with us as well. He has

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<v Speaker 2>been dead on about this bullmarket juggernaut and Lawrence McDonald.

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<v Speaker 2>Before Tally was some real caution about the nation's debt

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<v Speaker 2>and deficit and how it could tie into inflation. We

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<v Speaker 2>started strong with the way Lee of Black Rock. I

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<v Speaker 2>talked to her about free cash flow. Here's way Lee

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<v Speaker 2>on the path forward.

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<v Speaker 1>When it comes to valuing risk assets, it's a discounting

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<v Speaker 1>future cash flow. So even though R is going higher,

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<v Speaker 1>if G is going faster, and higher. Still, we can

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<v Speaker 1>still have a rosy market, which is what we have

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<v Speaker 1>had so far.

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<v Speaker 2>Our minus G. We didn't stop the show to do it.

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<v Speaker 2>I'll do a little bit here on it. Thomas Piketty,

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<v Speaker 2>the French questioner of Western Growth, is very big on

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<v Speaker 2>the concept of our minus g, the real rate minus

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<v Speaker 2>some form of growth rate. One of the most articulate

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<v Speaker 2>people I've seen on it was a laureate. Joe Stiglitz

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<v Speaker 2>has been very good on it. But that's a core concept.

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<v Speaker 2>You can look it up on your chosen AI as well.

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<v Speaker 2>Leslie Benja Murray with us from Chathamhouse and now at

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<v Speaker 2>the Chicago Council. Actor vin Ja Murray. He just did

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<v Speaker 2>a blurb for Valley Nassar's spectacular book on Iran. You'll

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<v Speaker 2>be hearing me on Nassar's book over the coming weeks

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<v Speaker 2>and months. It truly is a required read on Iran.

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<v Speaker 2>Here is Leslie vin Ja Murray on the war.

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<v Speaker 3>You've got a country that's thinking very strategically about its future,

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<v Speaker 3>and I think this is you know, if you if

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<v Speaker 3>you look at Valley Nasar's analysis of the of the

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<v Speaker 3>current conflict, you know it's very clear Iran's got its

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<v Speaker 3>eyes on the prize, It's in a winning position, It's

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<v Speaker 3>used its leverage very effectively. What we thought was very

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<v Speaker 3>asymmetric has turned to less asymmetric than you might think.

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<v Speaker 3>And we're seeing that, you know, as those as President

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<v Speaker 3>Trump sort of throws up his hands and says the

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<v Speaker 3>deal's not good enough or he doesn't like what they

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<v Speaker 3>what they wish to have. Iran looking unfortunately quite powerful,

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<v Speaker 3>and the US, as President Trump goes to China, look

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<v Speaker 3>not very strong.

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<v Speaker 2>Well, I'm much more on the news flow of the

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<v Speaker 2>war here, I'm sure as we go to the trip

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<v Speaker 2>to China, leslie Vinjiburi there from the Chicago Council. On podcasts,

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<v Speaker 2>we're out at Apple and Spotify, a YouTube podcasts at

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<v Speaker 2>Single Best Idea