1
00:00:02,520 --> 00:00:08,119
Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

2
00:00:13,320 --> 00:00:16,920
Speaker 2: Single best idea to start a week after that, Huge Jobs,

3
00:00:17,320 --> 00:00:22,200
Speaker 2: Michael McKee making very clear the revisions. Yeah, they're out there,

4
00:00:22,760 --> 00:00:25,239
Speaker 2: but they're modeled in, and he really wonders if the

5
00:00:25,280 --> 00:00:29,120
Speaker 2: revisions will move the market. It's assumed the job's numbers

6
00:00:29,160 --> 00:00:32,520
Speaker 2: will come down lower looking back a year, back, two years,

7
00:00:32,920 --> 00:00:35,480
Speaker 2: but McKee did not and Mike McKee did not play

8
00:00:35,479 --> 00:00:38,800
Speaker 2: that up as a big idea given all the other distractions.

9
00:00:38,840 --> 00:00:40,839
Speaker 2: What a joy to have David Gerr with me today

10
00:00:41,360 --> 00:00:46,160
Speaker 2: to talk about the festivities in Washington towards the inauguration

11
00:00:46,280 --> 00:00:49,920
Speaker 2: one week away, and just a really really interesting show

12
00:00:49,960 --> 00:00:53,440
Speaker 2: with Dollar Ascendant. I think that was an important theme

13
00:00:53,880 --> 00:00:58,120
Speaker 2: as well. Mark Sandy joined and I thought Mark Sandy

14
00:00:58,200 --> 00:01:01,080
Speaker 2: was really really quite something. He's out on Twitter with

15
00:01:01,200 --> 00:01:04,440
Speaker 2: a really intelligent feed. Whether you agree or disagree with

16
00:01:04,520 --> 00:01:08,560
Speaker 2: doctor Sandy, and he may clear he's looking at higher

17
00:01:08,800 --> 00:01:12,080
Speaker 2: yields as affecting equities. Let's listen.

18
00:01:12,600 --> 00:01:15,680
Speaker 3: You know, I think as long term interest rates push up,

19
00:01:15,760 --> 00:01:20,959
Speaker 3: that puts pressure on multiples, particularly for previously high flying

20
00:01:21,760 --> 00:01:27,240
Speaker 3: or currently high flying stocks, technology stocks that are valued

21
00:01:27,280 --> 00:01:30,560
Speaker 3: based on earning's way out into the future. So is

22
00:01:30,840 --> 00:01:33,759
Speaker 3: long term rates rise that puts pressure on multiples and

23
00:01:34,120 --> 00:01:36,000
Speaker 3: puts pressure on the equity market. So yeah, I think

24
00:01:36,000 --> 00:01:37,080
Speaker 3: they're very closely linked.

25
00:01:37,120 --> 00:01:40,880
Speaker 2: Tom Mark Sandy, I really can't say enough about sorting

26
00:01:40,920 --> 00:01:44,679
Speaker 2: out on Twitter. The value adds Sometimes you don't agree

27
00:01:44,680 --> 00:01:48,440
Speaker 2: with him or the disagree, but the value add of informing.

28
00:01:48,520 --> 00:01:51,040
Speaker 2: Jason Furman up at Harvard I think has just been

29
00:01:51,640 --> 00:01:56,680
Speaker 2: extraordinary with providing single tweets and threads that provide perspective,

30
00:01:56,760 --> 00:02:00,160
Speaker 2: and of course I put doctor Sandy in there as well,

31
00:02:00,200 --> 00:02:05,000
Speaker 2: always adding to this debate of economics, finance, investment, and

32
00:02:05,120 --> 00:02:08,720
Speaker 2: international relations. I've been remiss. I've got to get this

33
00:02:08,800 --> 00:02:12,960
Speaker 2: out at Bloomberg opinion piece on fire Admiral Stravetus the

34
00:02:13,000 --> 00:02:18,280
Speaker 2: course of NATO. Admiral Stravitus on Greenland. It's a wonderful piece,

35
00:02:18,440 --> 00:02:21,840
Speaker 2: really informative. He served time there when he was with NATO.

36
00:02:21,919 --> 00:02:27,679
Speaker 2: He was working for the US Navy in Greenland as well.

37
00:02:27,720 --> 00:02:31,160
Speaker 2: On single best idea today, well, we had to bitcoin

38
00:02:31,680 --> 00:02:34,520
Speaker 2: one hundred thousand whatever. I've got a buy order in.

39
00:02:34,600 --> 00:02:38,560
Speaker 2: It's a stop limit by order one hundred and ten thousand.

40
00:02:38,600 --> 00:02:41,520
Speaker 2: I'm waiting. I'm waiting, I'm waiting, haven't got there yet,

41
00:02:41,560 --> 00:02:44,320
Speaker 2: and we've pulled back, and when Eric Belchunis is with

42
00:02:44,480 --> 00:02:47,960
Speaker 2: us on ETFs, of course owns a high ground worldwide

43
00:02:48,400 --> 00:02:54,080
Speaker 2: on ETF analysis, the tension out there of bitcoin a

44
00:02:54,120 --> 00:02:57,840
Speaker 2: little bit lower. What's it mean for those Bitcoin ETFs?

45
00:02:58,480 --> 00:03:04,160
Speaker 2: I got one final question, then, is bitcoin the crazy stuff?

46
00:03:05,720 --> 00:03:09,080
Speaker 1: I maybe, yeah, it's hot sauce. I would say a

47
00:03:09,120 --> 00:03:12,360
Speaker 1: double leverage micro strategy is more crazy because micro strategy

48
00:03:12,400 --> 00:03:15,400
Speaker 1: is double x bitcoin, and two x micro strategy makes

49
00:03:15,440 --> 00:03:19,640
Speaker 1: that four x bitcoin. So mst X and MSTU to

50
00:03:19,720 --> 00:03:22,680
Speaker 1: me are the maybe xivs to watch for the next

51
00:03:22,720 --> 00:03:25,520
Speaker 1: sell off bitcoin itself. We've seen it. It can go

52
00:03:25,560 --> 00:03:28,800
Speaker 1: down eighty percent. It comes back though, So that said,

53
00:03:28,840 --> 00:03:32,600
Speaker 1: I think there's more ETF holders, stronger hands, more advisors

54
00:03:32,600 --> 00:03:34,720
Speaker 1: that won't sell, so I don't know if it has

55
00:03:34,760 --> 00:03:36,680
Speaker 1: that big of a sell off this time around.

56
00:03:37,800 --> 00:03:42,080
Speaker 2: Eric Belchiunas on ETFs and of course on bitcoin as well.

57
00:03:42,240 --> 00:03:45,720
Speaker 2: It is an eventful January already. Last week was exhausting

58
00:03:45,760 --> 00:03:48,840
Speaker 2: in the sense of just mass newsflow. Craig Valier at

59
00:03:48,840 --> 00:03:53,120
Speaker 2: AGF really emphasizes that through the weekend. This Monday was

60
00:03:53,160 --> 00:03:56,200
Speaker 2: a huge news flow as well. Let me tell you

61
00:03:56,240 --> 00:04:01,000
Speaker 2: what we're doing for twenty twenty five. We are figuring

62
00:04:01,040 --> 00:04:04,960
Speaker 2: out how to emphasize what I call a bolt on podcast.

63
00:04:05,040 --> 00:04:08,760
Speaker 2: Everybody's got podcasts now, Vet Bill's got a podcast out

64
00:04:08,760 --> 00:04:12,160
Speaker 2: with Kenneal Fee as well, and they're all twenty minutes long.

65
00:04:12,280 --> 00:04:15,120
Speaker 2: Like David Gurr is wonderful. The big take, Okay, you

66
00:04:15,160 --> 00:04:18,760
Speaker 2: don't need another twenty minute podcast sometime, Keen, So single

67
00:04:18,800 --> 00:04:23,080
Speaker 2: best idea is a four to five six minute quick

68
00:04:23,640 --> 00:04:26,719
Speaker 2: two thoughts just to keep the brain going. And we

69
00:04:26,720 --> 00:04:29,120
Speaker 2: can do that with all the wonderful guests that we

70
00:04:29,240 --> 00:04:33,480
Speaker 2: have out there on a commute across the nation, including

71
00:04:33,520 --> 00:04:37,200
Speaker 2: the reports of Rob Carolyn on the LA fires and

72
00:04:37,240 --> 00:04:48,600
Speaker 2: on YouTube podcasts. This is single best idea