Speaker 1: Bloomberg Audio Studios, podcasts, radio news, a single best idea.
Speaker 2: On an eclectic Friday, it was wonderful to speak to
Speaker 2: Richard Sapristein who does financial advice in Manhattan. He's iconic
Speaker 2: all the way back to Opgo years and years ago
Speaker 2: and then Bear Stearns. But just to catch up on
Speaker 2: him in the state of advice across this nation given
Speaker 2: all the different distractions that we have right now. Daniel
Speaker 2: Blude came in restaurant tour, huge impact on the New
Speaker 2: York community. During COVID we caught up with him on
Speaker 2: new projects fancy, less fancy, and almost things we can
Speaker 2: afford that's a joke. And then we had other great efforts.
Speaker 2: Brian Belski joined us with Humilis. Brian Belski has been
Speaker 2: in the market since two thousand and nine. He is
Speaker 2: a committed bull. Here on the next step.
Speaker 3: I learned the business from a great gentleman by the
Speaker 3: name of William O'Neill, and he taught me how to
Speaker 3: be contrarian. And sometimes you have to think from a
Speaker 3: contrarian perspective and where the be where everybody else is
Speaker 3: not number one, number two from a value perspective. There
Speaker 3: are inherent fundamental value properties in the market, especially within financials,
Speaker 3: but you can also buy damian turnaround companies that are
Speaker 3: let's say broken growth stocks that operationally have been broken
Speaker 3: due to management changes or missteps, that actually have a
Speaker 3: great platform or product. But we really think small cap
Speaker 3: small MidCap is going to be a very exciting place
Speaker 3: the next ten years. If you add up all the
Speaker 3: small MidCap companies in the S and P one thousand
Speaker 3: by their market cap, they all add up to being
Speaker 3: less than the market cap of Apple, which to me
Speaker 3: is quite amazing and exciting because if you're a portfolio
Speaker 3: manager and a stock picker, you can have tracking air
Speaker 3: and beat the market. So we think ultimately that we're
Speaker 3: going to see a little bit of an earnings revisi
Speaker 3: and downgrade to the really big stocks that's going to
Speaker 3: fade into the other five hundred and ninety I'm sorry,
Speaker 3: four hundred and ninety three stocks in the S and
Speaker 3: P five hundred, which will ultimately drive more of a
Speaker 3: broadening out.
Speaker 2: Brian Belski and you see the acuity of his research.
Speaker 2: Just said idea of small and MidCap, how small it
Speaker 2: is compared to one of the mega hyperscalers a trillion
Speaker 2: dollar companies like Apple Computer, Tina Fordam across this transatlantic
Speaker 2: divide of international relations is just wonderful and Fordum Global
Speaker 2: Foresight Tina Fordam an update on your Secretary of State.
Speaker 4: He has done a masterful job, I would say, Marco
Speaker 4: Ruvio of first of all, wearing a insane number of
Speaker 4: hats in this administration, speaking kind of sensibly and credibly
Speaker 4: in a way that the Vice President just just isn't
Speaker 4: given that kind of credit for we don't know what's
Speaker 4: happening behind the scenes. I think the key variable will
Speaker 4: be watching is if Trump decides to shift focus to Cuba,
Speaker 4: which we know matters for Rubio as a as a
Speaker 4: child of Cuban emigrats, and what happens there, or whether
Speaker 4: he's able to, you know, perhaps quietly and below the
Speaker 4: radar kind of you know, return to some kind of
Speaker 4: more constructive lomacy both with Iran and in Ukraine, because
Speaker 4: the wit Coffin Kushner show hasn't really delivered much.
Speaker 2: Tina Fordham is very insightful. Damien Sassar with me that
Speaker 2: I had a great observation on the length of the
Speaker 2: war in Ukraine. It's just we forget how long we've
Speaker 2: had these Multiple wars on podcasts were at Apple, where
Speaker 2: as Spotify on YouTube podcasts. It's single best idea