WEBVTT - Single Best Idea with Tom Keene: Amy Wu Silverman & David Rosenberg

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

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<v Speaker 2>Single best on on the Jobs Day tomorrow will have

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<v Speaker 2>a complete coverage of course, go beneath the headline data

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<v Speaker 2>at eight thirty and critically for this job's day. Victoria

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<v Speaker 2>Clark at Veronica Clark excuse me, City Group adamant. We're

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<v Speaker 2>going to see more than the normal revisions. This is

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<v Speaker 2>not a normal jobs Day tomorrow, and we'll really dive

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<v Speaker 2>into that tomorrow with good conversation. Today was really something.

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<v Speaker 2>The news flow was all over the place. We were

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<v Speaker 2>going back and forth, and you know, Ethan brown a

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<v Speaker 2>from Gaza was just absolutely phenomenal. We thank him first time.

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<v Speaker 2>He's got a really important story out on the actual

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<v Speaker 2>Gaza this morning that I'll try to get out on

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<v Speaker 2>Twitter and a linked in. Amy who Silverman was on

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<v Speaker 2>with RBC Capital Markets. Her lead note on the quantitative

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<v Speaker 2>state of the market is the dispersion of the market

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<v Speaker 2>is substantial. The distance from winners and losers is ever wider.

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<v Speaker 2>Here is Amy Woo Silverman of RBC Capital Markets.

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<v Speaker 3>When you have these high dispersion environments, it really really

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<v Speaker 3>matters what you what you do do. And you know

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<v Speaker 3>my favorite stat about this is you could have the

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<v Speaker 3>same level of vix Tom, you could have the same

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<v Speaker 3>level s and P draw down. But in a high

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<v Speaker 3>dispersion environment, if you made the right stock pick versus

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<v Speaker 3>the wrong stock pick, you know that outperformance differential could

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<v Speaker 3>really be huge. It really matters if you're in the

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<v Speaker 3>right sector. Is it really matters if you're in the

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<v Speaker 3>right stocks versus a high correlation environment where it's all macro,

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<v Speaker 3>We're all riding one wave.

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<v Speaker 2>Amy Woo Silverman an extended conversation. They look for that

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<v Speaker 2>out on Bloomberg Digital and of course on our podcasts

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<v Speaker 2>as well. Typically out on YouTube and YouTube podcasts. David

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<v Speaker 2>Rosenberg was on again, an extended conversation that could have

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<v Speaker 2>been four hours long. Near the end of the conversation,

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<v Speaker 2>we talked about the Canadian election. He said it is

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<v Speaker 2>less like a French fragmentation and much more like Republicans

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<v Speaker 2>and Democrats except their conservatives and liberals. And he was

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<v Speaker 2>really quite brilliant on the tension in Canada and then

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<v Speaker 2>the overlay of tariffs. He and I talked about the

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<v Speaker 2>Saint Lawrence seaway in our childhoods of a different time

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<v Speaker 2>of New York State and Ontario up at Gananaqua Here

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<v Speaker 2>is David Rosenberg of Rosenberg Research on the silence of

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<v Speaker 2>a hockey arena.

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<v Speaker 1>I wouldn't say it's gone, but you know, it's been

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<v Speaker 1>impaired at least for now. I really I don't like

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<v Speaker 1>the fact that you know, we're booing, you know, national anthems.

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<v Speaker 1>I mean, this is more about you know, half the

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<v Speaker 1>US population voted against Trump, Like, what are you booing against?

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<v Speaker 1>It's it's really about the president. So be the president.

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<v Speaker 1>But the reality is that you know, politics will compulx

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<v Speaker 1>will go. I wouldn't, you know, okay, extrapolate this into

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<v Speaker 1>the future, but right now, right right now, I gotta

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<v Speaker 1>say Canadians, generally speaking, and of course I live in Toronto,

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<v Speaker 1>they're feeling really hurt by what's happened. And the thing

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<v Speaker 1>is that I don't think the tariffs are going through,

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<v Speaker 1>but the die has been cast and the damage is

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<v Speaker 1>done by the way tom not just here but in

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<v Speaker 1>the US too, because of the uncertainty that's being implemented

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<v Speaker 1>into not just the financial markets, but in the economy.

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<v Speaker 1>I think you're going to find the one thing that's

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<v Speaker 1>going to be shelved in both can United States because

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<v Speaker 1>just because of the specter and the threat of the tariff.

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<v Speaker 1>There's going to be shelving capital spending plans.

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<v Speaker 2>David Rosenberg of Toronto, Canada, and your commute across Canada,

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<v Speaker 2>you commute across America, look to Apple car Play, Android

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<v Speaker 2>quiet day somewhere out there. I'm not sure when it's

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<v Speaker 2>going to be up to ninety two nine FM in

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<v Speaker 2>Boston Good Morning as well. We're on YouTube and YouTube podcasts.

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<v Speaker 2>It's single best idea