WEBVTT - Single Best Idea with Tom Keene: Mark Zandi & Eric Balchunas

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

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<v Speaker 2>Single best idea to start a week after that, Huge Jobs,

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<v Speaker 2>Michael McKee making very clear the revisions. Yeah, they're out there,

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<v Speaker 2>but they're modeled in, and he really wonders if the

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<v Speaker 2>revisions will move the market. It's assumed the job's numbers

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<v Speaker 2>will come down lower looking back a year, back, two years,

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<v Speaker 2>but McKee did not and Mike McKee did not play

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<v Speaker 2>that up as a big idea given all the other distractions.

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<v Speaker 2>What a joy to have David Gerr with me today

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<v Speaker 2>to talk about the festivities in Washington towards the inauguration

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<v Speaker 2>one week away, and just a really really interesting show

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<v Speaker 2>with Dollar Ascendant. I think that was an important theme

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<v Speaker 2>as well. Mark Sandy joined and I thought Mark Sandy

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<v Speaker 2>was really really quite something. He's out on Twitter with

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<v Speaker 2>a really intelligent feed. Whether you agree or disagree with

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<v Speaker 2>doctor Sandy, and he may clear he's looking at higher

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<v Speaker 2>yields as affecting equities. Let's listen.

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<v Speaker 3>You know, I think as long term interest rates push up,

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<v Speaker 3>that puts pressure on multiples, particularly for previously high flying

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<v Speaker 3>or currently high flying stocks, technology stocks that are valued

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<v Speaker 3>based on earning's way out into the future. So is

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<v Speaker 3>long term rates rise that puts pressure on multiples and

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<v Speaker 3>puts pressure on the equity market. So yeah, I think

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<v Speaker 3>they're very closely linked.

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<v Speaker 2>Tom Mark Sandy, I really can't say enough about sorting

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<v Speaker 2>out on Twitter. The value adds Sometimes you don't agree

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<v Speaker 2>with him or the disagree, but the value add of informing.

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<v Speaker 2>Jason Furman up at Harvard I think has just been

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<v Speaker 2>extraordinary with providing single tweets and threads that provide perspective,

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<v Speaker 2>and of course I put doctor Sandy in there as well,

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<v Speaker 2>always adding to this debate of economics, finance, investment, and

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<v Speaker 2>international relations. I've been remiss. I've got to get this

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<v Speaker 2>out at Bloomberg opinion piece on fire Admiral Stravetus the

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<v Speaker 2>course of NATO. Admiral Stravitus on Greenland. It's a wonderful piece,

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<v Speaker 2>really informative. He served time there when he was with NATO.

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<v Speaker 2>He was working for the US Navy in Greenland as well.

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<v Speaker 2>On single best idea today, well, we had to bitcoin

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<v Speaker 2>one hundred thousand whatever. I've got a buy order in.

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<v Speaker 2>It's a stop limit by order one hundred and ten thousand.

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<v Speaker 2>I'm waiting. I'm waiting, I'm waiting, haven't got there yet,

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<v Speaker 2>and we've pulled back, and when Eric Belchunis is with

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<v Speaker 2>us on ETFs, of course owns a high ground worldwide

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<v Speaker 2>on ETF analysis, the tension out there of bitcoin a

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<v Speaker 2>little bit lower. What's it mean for those Bitcoin ETFs?

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<v Speaker 2>I got one final question, then, is bitcoin the crazy stuff?

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<v Speaker 1>I maybe, yeah, it's hot sauce. I would say a

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<v Speaker 1>double leverage micro strategy is more crazy because micro strategy

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<v Speaker 1>is double x bitcoin, and two x micro strategy makes

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<v Speaker 1>that four x bitcoin. So mst X and MSTU to

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<v Speaker 1>me are the maybe xivs to watch for the next

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<v Speaker 1>sell off bitcoin itself. We've seen it. It can go

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<v Speaker 1>down eighty percent. It comes back though, So that said,

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<v Speaker 1>I think there's more ETF holders, stronger hands, more advisors

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<v Speaker 1>that won't sell, so I don't know if it has

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<v Speaker 1>that big of a sell off this time around.

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<v Speaker 2>Eric Belchiunas on ETFs and of course on bitcoin as well.

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<v Speaker 2>It is an eventful January already. Last week was exhausting

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<v Speaker 2>in the sense of just mass newsflow. Craig Valier at

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<v Speaker 2>AGF really emphasizes that through the weekend. This Monday was

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<v Speaker 2>a huge news flow as well. Let me tell you

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<v Speaker 2>what we're doing for twenty twenty five. We are figuring

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<v Speaker 2>out how to emphasize what I call a bolt on podcast.

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<v Speaker 2>Everybody's got podcasts now, Vet Bill's got a podcast out

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<v Speaker 2>with Kenneal Fee as well, and they're all twenty minutes long.

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<v Speaker 2>Like David Gurr is wonderful. The big take, Okay, you

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<v Speaker 2>don't need another twenty minute podcast sometime, Keen, So single

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<v Speaker 2>best idea is a four to five six minute quick

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<v Speaker 2>two thoughts just to keep the brain going. And we

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<v Speaker 2>can do that with all the wonderful guests that we

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<v Speaker 2>have out there on a commute across the nation, including

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<v Speaker 2>the reports of Rob Carolyn on the LA fires and

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<v Speaker 2>on YouTube podcasts. This is single best idea