Speaker 1: Bloomberg Audio Studios, Podcasts, radio news.
Speaker 2: This is the Bloomberg Surveillance Podcast. I'm Tom Keene along
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Speaker 2: the Bloomberg Terminal, and the Bloomberg Business App. From Massachusetts,
Speaker 2: The Charles River, Katie Kaminski joins chief research Strategist Alpha Simplex. Katie,
Speaker 2: if we reaffirmed a bullmarket, you and I are trend based.
Speaker 2: I'm looking at all sorts of percolations. Parabolics, are climate
Speaker 2: exponential moving averages, and the vector's pointing up?
Speaker 3: Do you agree?
Speaker 4: I agree on equities, but I'm still really nervous on.
Speaker 5: The other asset classes, so that I'd say yes and no.
Speaker 6: What's it is not a radio answer?
Speaker 3: You say yes on TV on radio and yes.
Speaker 5: I agree for equities.
Speaker 4: Yes, I mean I think there's still a moderate and
Speaker 4: sort of given what happened last month, signals abated, volatility
Speaker 4: came in and dissipated some of the strength that we
Speaker 4: saw earlier this year, and we're going to continue to
Speaker 4: see some sort of we've seen some recovery, so we're
Speaker 4: some somewhat moderately long you know, long views and equities.
Speaker 5: But when you look.
Speaker 4: At the other asset classes, that's what's been making me nervous.
Speaker 5: Because you've seen.
Speaker 4: Strong fixed income long signals, you've seen short commodity views.
Speaker 5: You're seeing long gold and short.
Speaker 4: The dollar has been under pressure too, so that that's
Speaker 4: a little defensive.
Speaker 6: You mentioned the dollar, Kdie, I mean again, we've seen
Speaker 6: weakness here in the dollar here. I mean I've always
Speaker 6: asked my FX folks here, is there ever a case
Speaker 6: a bear case for the US dollar? Is this a
Speaker 6: bear market for the US dollar or is this just
Speaker 6: some short term trading pressure.
Speaker 5: So I think there is definitely a case right now.
Speaker 4: With monetary policy going in with cuts, that's naturally going
Speaker 4: to put pressure on the dollar. And that's been the
Speaker 4: key theme for the last two or three months, and
Speaker 4: we've seen I'll just be honest, with you. Currencies has
Speaker 4: been the toughest asset class this year to trend because
Speaker 4: the signals have been much more volatile, and so you've
Speaker 4: seen a lot of back and forth, which is not
Speaker 4: you know, has not been an easy trend to trade.
Speaker 4: So the signal noise ratio has been low, but more recently.
Speaker 5: Especially the last two months, definitely with.
Speaker 4: The theme of you know, US cutting rates, that has
Speaker 4: put pressure.
Speaker 7: On the dollar, Katie.
Speaker 2: From a CTA standpoint, people that follow trends, is it
Speaker 2: a good time? Are trends efficacious now? Or is it
Speaker 2: still what the pro say, folks, it's so stochastic that
Speaker 2: you just can't get conviction.
Speaker 4: I think I actually think it's a good time because
Speaker 4: what happens a trend is as we go through a
Speaker 4: period of inflection. So when signals reduce and then pivot
Speaker 4: and you see a positioning move from one theme to another,
Speaker 4: that's when you have this opportunity.
Speaker 5: To break out.
Speaker 4: And so what we've been watching is some of the
Speaker 4: key things that have been building in our signals, and
Speaker 4: that's been a focus on potential for a harder landing,
Speaker 4: potential for economic weakness, and that is seen outside of
Speaker 4: the equity markets, and I think for me, when you
Speaker 4: look at past reversal periods, those other asset classes is
Speaker 4: where you have something to you know, to edge opportunities
Speaker 4: if we should find some difficulties this fall.
Speaker 2: Do you have a belief on gold? I've never asked
Speaker 2: you this, does Katie Kaminski look at gold? I mean,
Speaker 2: what was it, Paul record high yesterday? Where are we
Speaker 2: twenty five? We're almost a twenty six hundred on gold?
Speaker 3: On gold?
Speaker 4: So gold is I mean, it's amazing. I think the
Speaker 4: recent rally may be attributed to the dollar being weaker
Speaker 4: and real rates going down, but you know, really, if
Speaker 4: you look at that trend, it's just, you know, we
Speaker 4: should just be buying gold this year. You know, it's
Speaker 4: it's really it's been very strong and it's been very
Speaker 4: resilient throughout the entire year, So you know, it's the
Speaker 4: one that kind of sticks out versus other commodities that
Speaker 4: are more demand focus, like energies and metals.
Speaker 6: Well, I don't know much about commodities. I'm pretty proud
Speaker 6: of that butt, by the way. But the function I
Speaker 6: do know is BCom b COO and the Bloomer Commodities
Speaker 6: Index and BOIL US down ten percent just over the summer.
Speaker 6: I guessed, I mean, what's that telling you, Katie.
Speaker 4: So that's part of what this defensive narrative that I've
Speaker 4: been concerned about. It feels a little bit like the
Speaker 4: trends right now are hedge. So there's still long equity
Speaker 4: views and trends, but that's coupled with short positioning and commodities.
Speaker 4: What I'm worried about is what happens after cuts next week,
Speaker 4: once we start having cutts.
Speaker 5: Does the market pivot again or do we continue?
Speaker 2: Kay, this has been wonderful. Our theme today, Catherine is
Speaker 2: Notre Dame got they were? They lost, And in my
Speaker 2: agreement with Bloomberg, I.
Speaker 3: Have to talk of Purdue football.
Speaker 2: So today we're looking at like, you know, pro football,
Speaker 2: like what they play out in South Bend and West Lafayette.
Speaker 2: I noticed Katie Kaminski that the fighting Mit Crew they
Speaker 2: beat Bridgewater State Football, and I was looking at Carson
Speaker 2: Phelps of Wichita, Kansas.
Speaker 3: I mean, this kid, Katie, he's a math major.
Speaker 2: He's like he's like real Mit Like, Katie, like, you know,
Speaker 2: this kid never would be in his in his life, Katie.
Speaker 3: Is there a fight song at M I t is
Speaker 3: there a fight song there?
Speaker 4: It actually is, and it's basically a math fight song
Speaker 4: and it has like E to the X pie I
Speaker 4: wish I remembered it.
Speaker 3: But it's got math team go go go k.
Speaker 2: It's a lot of Does does it have oilers function
Speaker 2: in it where the minus one stuck on the right side?
Speaker 5: I think it does. Actually, it's it does.
Speaker 4: It does have to the x y co sign sign
Speaker 4: something like that, but look it up.
Speaker 5: It's really it's it's it's a great math chance.
Speaker 2: Runs Ka Kaminski, Thank you so much from the shores
Speaker 2: of the Charles River, Eve the pie I.
Speaker 3: Or whatever it is.
Speaker 2: It all sorts of different views, starting with Michael Purvis's
Speaker 2: lyft of fifty.
Speaker 3: Eight hundred NSPX this morning.
Speaker 6: But they have the.
Speaker 2: Quant of mathematics, the epsilon, the Greek letters.
Speaker 3: Of Katie Kaminski.
Speaker 2: Let's get real this weekend, over a beverage of your choice.
Speaker 2: Maybe you're at the beach, Maybe you're at a kitchen
Speaker 2: table trying to figure out what to do about the
Speaker 2: rent increase.
Speaker 3: You want to listen to Emily Rowland.
Speaker 2: Co, Chief investment strategists for a small shop up in Boston,
Speaker 2: they have. They have two toes. They have old Johnny
Speaker 2: Hancock and new Johnny Hank. I like, yeah, there's a
Speaker 2: lot of and all that. Emily joins us this morning. Emily,
Speaker 2: you have nailed by quality by America.
Speaker 3: Try to push aside all.
Speaker 2: The noise we've renoised after the first week of August.
Speaker 3: How do you reset for twenty twenty five?
Speaker 8: We continue tom to have our eye on the ball here.
Speaker 8: We are continuing to emphasize high quality stocks. We think
Speaker 8: in this late cycle environment, where the lagged impact of
Speaker 8: FED tightening hasn't tipped us into recession, we continue to
Speaker 8: spend like crazy in the United States. Not a political statement,
Speaker 8: by the way, It's just happening, and that's extending the cycle.
Speaker 8: We want to be careful of reaching too far for risk.
Speaker 8: We want to start even legging into more some more
Speaker 8: defensive parts of the market, and we continue to want
Speaker 8: to embrace the income that's available now in high quality bonds.
Speaker 6: What's the for you guys at State Street? What is
Speaker 6: quality legging into the quality part of the market. What
Speaker 6: does that mean for you guys?
Speaker 8: Yeah, so it's companies with great balance sheets, they have
Speaker 8: a ton of cash, great return on equity. Think about
Speaker 8: a company with the limited need to tap the capital
Speaker 8: markets in order to grow, and with the cost of
Speaker 8: capital still elevated. You know, companies are now contending with
Speaker 8: margin pressure. Revenue growth was awesome during the height of
Speaker 8: that pandemic, as companies could pass those higher prices along.
Speaker 9: Now record revenue growth is slowing.
Speaker 8: Margins are compressed, and the companies that are going to
Speaker 8: do the best are the ones that can defend those margins.
Speaker 8: And we're finding a lot of that in the quality
Speaker 8: factor and most notably in technology.
Speaker 3: Emily.
Speaker 2: It's a way from your remit, but let's keep the
Speaker 2: theme going. I need to have trick right now, and
Speaker 2: that is we had two opinions earlier this week separate
Speaker 2: into screete reaffirming double digit earnings growth. I assume you're there,
Speaker 2: but can you state to us that you see persistency
Speaker 2: of quality margins that lead to double digit earning growth.
Speaker 8: Yeah, I think it's you can find it, but it's
Speaker 8: going to be concentrated.
Speaker 9: In those companies.
Speaker 8: Luckily, the quality factor has concentration in megacap tech, and
Speaker 8: of course those names are dominating the market.
Speaker 9: If you look at earnings growth, just this quarter.
Speaker 8: Half of it was driven by the communications services and
Speaker 8: technology sector. Revenue growth is coming from those areas of
Speaker 8: the market. So as long as you can see that
Speaker 8: holding up, I think you can get there now.
Speaker 9: Tom. The great news is the bar for Q three
Speaker 9: is really low.
Speaker 8: Analysts are penciling in three point eight percent year over
Speaker 8: year earnings ago. So I think we should just enjoy
Speaker 8: it while we can, Like you guys are enjoying the
Speaker 8: Yankees right now, beating the Red soxing.
Speaker 7: Enjoy it.
Speaker 3: Armela, you're killing me. Stop it.
Speaker 9: You know, we might get better.
Speaker 3: I mean you could.
Speaker 2: See from the new John Hancock, if you go up higher,
Speaker 2: you could see the lack of offense. Oh but it's like
Speaker 2: a cloud over Fenwick Park. Paul in Nvidia, Paul, you
Speaker 2: were on this.
Speaker 3: Yeah, so from the peak down twenty one percent, I know.
Speaker 6: And Tim rays a great question, Emily. If you think
Speaker 6: about Nvidia, think about AI. That's been such a driver
Speaker 6: of the stock market performance for the last almost two years.
Speaker 7: Here, if the AI.
Speaker 6: Trade has kind of played out, does that bring some
Speaker 6: risk into the marketplace that we need to account for.
Speaker 9: Yeah, it does because of that concentration.
Speaker 8: And look, we're bumping up on thirty times forward earnings
Speaker 8: for the US technology sector. That's about as high as
Speaker 8: we've gotten over the course of this cycle. Now, of
Speaker 8: course it's not the fifty times forward earnings we saw
Speaker 8: in the late nineteen nineties, but certainly there's been a
Speaker 8: lot of multiple expansion there. The good news is if
Speaker 8: you do the math. You guys seem to be doing
Speaker 8: a lot of math this morning. So let me just
Speaker 8: get in on the party to look at the PE ratio.
Speaker 8: We would focus on the denominator, look at the earnings,
Speaker 8: and you can blame a lot of things for any
Speaker 8: reset in the technology sector, but it's multiple compression.
Speaker 9: It is not earnings. The earnings are there.
Speaker 8: The fundamental case for AI is there. It's just the
Speaker 8: love affair with it is probably.
Speaker 9: A bit extent.
Speaker 2: Paul, in Vidia, fifty six times PE forward PE only
Speaker 2: to January of next year is a forty.
Speaker 6: Two yeah, and it gets to a thirty handle on
Speaker 6: the following year. So this is a company that's earning
Speaker 6: its way into its multiple. That's what the bulls will
Speaker 6: tell you here exactly exactly. So I mean this Federal Reserve, Emily,
Speaker 6: it seems like it's ready to begin a cutting cycle.
Speaker 6: How does that kind of impact how you guys are
Speaker 6: thinking that stocks, bonds, commodities, all that kind of stuff.
Speaker 8: Well, Paul, it comes down to what's already priced in
Speaker 8: to the bond market. You know, the bond market is
Speaker 8: putting pressure on the FED right now because we've got
Speaker 8: five rate cuts priced in for this year. So if
Speaker 8: you start to hear the Fed coming out on next
Speaker 8: Wednesday as even a little bit more hawkish than what's
Speaker 8: already priced in the market, I think you might see
Speaker 8: a repricing there. You'd see bond yields backing up. That
Speaker 8: would likely cause the dollar to appreciate. It would be
Speaker 8: it would put some you know, some pressure on equity markets,
Speaker 8: very likely here. So we've got to hear a more
Speaker 8: dubbish FED just to fit in with what the market
Speaker 8: is already pricing in.
Speaker 3: What are you doing with cash?
Speaker 2: I get thirty seconds cash five percent, it's going to
Speaker 2: be four point ninety nine percent?
Speaker 3: What happens, Emily Roland?
Speaker 8: Yeah, cash is subject to massive reinvestment risk.
Speaker 9: Here.
Speaker 8: We would go out into the belly of the curve,
Speaker 8: lock in higher rates there. The AG is yielding above
Speaker 8: four percent, Still still get it? While you can and
Speaker 8: income income income get paid to wait.
Speaker 3: Emily Rowland, thank you for the brief. Really love it.
Speaker 2: That's what we love to do in surveillance. Folks have
Speaker 2: someone like Katie Kaminski and is doing total Greek letter
Speaker 2: math nerdfest and they go to Emily Rowland, who's talking
Speaker 2: really basic block and tackle believe for the three.
Speaker 3: Year holding pattern, five year holding pattern. It's okay.
Speaker 2: The way it works at Bloomberg, folks is man Deep
Speaker 2: Sing and a Agarana can't be in the same building
Speaker 2: at the same time. So Mandeep Sing's working from ame
Speaker 2: legit because an Igarana darkened the door of our world.
Speaker 3: Headquarters here in New York.
Speaker 2: Use me based out of Chicago to say he see
Speaker 2: the tech analyst barely describes it the oracle.
Speaker 3: I'm looking at the phone service now. Good things come
Speaker 3: to those who wait.
Speaker 2: Demand is high right now, Please hang tight in this
Speaker 2: waiting room.
Speaker 3: When it's your turn.
Speaker 2: To shop, we'll redirect you automatically.
Speaker 3: Does everybody need a new iPhone this morning?
Speaker 10: It happens a lot the first day when it goes
Speaker 10: to up sales. I've been waiting for the last few
Speaker 10: hours for them to open orders. Which started it at
Speaker 10: eight am Eastern time, and I honestly, in the fifteen
Speaker 10: minutes I was able to get through. I'll pick it
Speaker 10: up next Friday. I'm very happy about it.
Speaker 2: How much memory should we get in our phone? You're
Speaker 2: a pro, You're downloadtle secret files and all that. Now
Speaker 2: much in our iPhone sixteen?
Speaker 10: I go with the basic because I have the premium
Speaker 10: iCloud prep plan, so it doesn't matter to me.
Speaker 6: So what am I getting again?
Speaker 3: The sixteen pro?
Speaker 1: Okay?
Speaker 6: Thank you? So hon Rock, he's got a day job
Speaker 6: being like the tech gurul for Bloomberg.
Speaker 3: We on a side job.
Speaker 6: Is my personal iPhone shop? Right, Just get my credit
Speaker 6: card and he goes.
Speaker 2: So you may have the iclouds so you don't have
Speaker 2: to spend up for all that RAM. Yeah, Like if
Speaker 2: I want to get the complete season of Slow Horses
Speaker 2: on there, all four seasons, I'm not going to use
Speaker 2: up all the RAM and the phone.
Speaker 10: Now, you I have never in the last fifteen years,
Speaker 10: I've never seen any storage issues. You go with the
Speaker 10: basic model, it's not a problem. But you want to
Speaker 10: get the iCloud premium plan so that you're not looking
Speaker 10: at things at LISTA do you have the iCloud.
Speaker 1: But here's the thing, I'm paying these extra dollar ninety
Speaker 1: nine to ninety nine a month for all this extra
Speaker 1: extra storage. Did I do it the wrong way? And
Speaker 1: was I supposed to go your way?
Speaker 8: No?
Speaker 6: No, he's my personal iPhone real.
Speaker 10: So when you really buy a I don't know, a
Speaker 10: Rolls Royce, you don't worry about like you know the
Speaker 10: price of oil and these things. So I really don't
Speaker 10: like you need to get the premium plans for these
Speaker 10: things to just work seamlessly. You don't want any headache,
Speaker 10: you don't want any time anything not sinking properly.
Speaker 2: So some of this intelligent conversation, this is the most
Speaker 2: important conversation we've had today.
Speaker 3: With the phrase a I. Where does this.
Speaker 2: Madness fit in to your day job? The future of
Speaker 2: this AI world.
Speaker 10: So one of the things that we have said that
Speaker 10: when you look at Apple, it has probably the most
Speaker 10: valuable distribution arm of any kind of device at this
Speaker 10: point because it's usually very rich people who would own
Speaker 10: this particular product. Over the next two years, we will
Speaker 10: see a lot of AI applications come in and you
Speaker 10: would need a phone like an iPhone sixteen for those
Speaker 10: to run. You may not want to upgrade this year,
Speaker 10: maybe you will upgrade it next year, but within the
Speaker 10: next two years we will see a lot of phones
Speaker 10: being refreshed. We think it's a little more biased towards
Speaker 10: next year because the phone model is going to be
Speaker 10: a lot different than this one, which is very much
Speaker 10: like the last year's model. But the next two years
Speaker 10: are really good for this entire iPhone family.
Speaker 6: So talk to us about what's going on. If I
Speaker 6: want to get exposure to AI. I mean, Tom's own
Speaker 6: in Nvidia since day one, so he's fine. But for
Speaker 6: the rest of us, we want to get exposure to
Speaker 6: AI in a software space because I like the software space.
Speaker 6: I'll add the recurring revenue that you've always taught us
Speaker 6: about where do we go in software?
Speaker 7: For AI experts?
Speaker 10: You know, we think it is still the biggest cloud
Speaker 10: players because you are not going to see companies do
Speaker 10: a lot of this in house. They will be using
Speaker 10: either Microsoft, Open Eye Relationship, Amazon and Thropic Relationship. Oracles
Speaker 10: also benefiting because it's getting the bypass of all of
Speaker 10: these companies. Google has Google and Gemini, so it is
Speaker 10: all of these big companies, And I mean as much
Speaker 10: as you dislike, But these big companies are only going
Speaker 10: to get bigger over the next five years, much bigger.
Speaker 7: How about this?
Speaker 6: I guess one of the issues with AI just come
Speaker 6: into the marketplace maybe over the last three to six months,
Speaker 6: is Okay, we've got through the efuria of people spending
Speaker 6: money on A and getting exposured to AA and that
Speaker 6: drove and Vidi and drove a lot of other companies.
Speaker 6: Now the discussion has become wa, wa, whooh, what's my
Speaker 6: return on this investment?
Speaker 7: Again? What's the how do you?
Speaker 1: How's that?
Speaker 6: What's that discussion go?
Speaker 2: Like?
Speaker 10: So when you look at somebody like an Nvidia, they
Speaker 10: are all these cloud players are buying chips from that
Speaker 10: something over like forty percent of the chips are bought
Speaker 10: by the cloud providers. The cloud white is are then
Speaker 10: going to companies. They're going to healthcare companies, banks and
Speaker 10: saying will help you develop an AI chat, bought an
Speaker 10: AI application that would help you drive productivity.
Speaker 2: Barclays with a brilliant report, just like the serious work
Speaker 2: you're doing in a Bloomberg intelligence on the electrical usage
Speaker 2: the electricity utility build out. To make a long story short, folks,
Speaker 2: in three cups of coffee. It's going to be at
Speaker 2: least nine percent of the nation's electricity. A sentence from
Speaker 2: Barclays Northern Virginia Good Morning ninety nine one FM, which
Speaker 2: currently accounts for over twenty percent of US data center capacity.
Speaker 2: Can we build out the electrical need responsibly and appropriately
Speaker 2: without Lisa Matteo's utility bill going to the moon?
Speaker 10: I think that is going to be the single most
Speaker 10: important thing, the capacity to run a lot of these
Speaker 10: AI applications. My call it omit just did a very
Speaker 10: brilliant podcast on tech disruptors for Schneider Electric CEO. Highly
Speaker 10: recommend people listening to it. It was phenomenal in the
Speaker 10: way the world's energy needs or electric needs electrification is improving,
Speaker 10: and how much they are doing.
Speaker 2: To solve the drownouts in Texas. So the Texas has
Speaker 2: got their whacko utility structure. I mean when John Tucker
Speaker 2: logs on in the Lincoln Tunnel Staten Island dims, are
Speaker 2: we ready for this?
Speaker 3: Santa Rock?
Speaker 10: I think money will need to be spent at a
Speaker 10: federal level to help the cause because transmission lines are
Speaker 10: not there. The electricity generation needs to be there. Nobody
Speaker 10: wants to build the nuclear plants the Center.
Speaker 2: Warren at the Commonwealth of Massachusetts and a few other
Speaker 2: Republicans are going to say, you guys are making all
Speaker 2: the money, you build the capacity. Why shouldn't Microsoft and
Speaker 2: their brethren build out the electrical capacity.
Speaker 10: Bill gets very big on nuclear plants. If they allow him,
Speaker 10: I am sure he won't have a problem building one.
Speaker 10: But you know the country is not ready to build
Speaker 10: nuclear plants anywhere.
Speaker 6: And you mentioned this, Tom. It's a great topic here
Speaker 6: about a derivative top about AI and the energy demand.
Speaker 6: Bloomberg Intelligence has a forty page deep dive AI driven
Speaker 6: energy demand outlook, solar gas and batteries, race to power,
Speaker 6: AI revolutions.
Speaker 3: What's the sum of that inner ruck?
Speaker 10: Wow, it's the etsy at the end of the day,
Speaker 10: that remains one of the biggest bottlenecks for US, both
Speaker 10: the GPUs shortage as well as electricity and power. And
Speaker 10: I think that's I'll tell you one thing. I go
Speaker 10: back two thousand and eight nine. Everyone is talking about
Speaker 10: how the world is going to run out of oil
Speaker 10: and everything in the next two years. The US capitalists
Speaker 10: figured out how to do fracking. I'm very confident we
Speaker 10: will figure something out in the next three to five
Speaker 10: years that's going to help us with this shortage and electricity.
Speaker 2: Okay, can you call Journal's year up and figure out
Speaker 2: what to do here? I got to order. You know,
Speaker 2: vet Bill had a tantrum last night, almost big canalty.
Speaker 2: I know vet Bill needs a new sixteen Promax.
Speaker 6: You know, Well, you're getting ears and a watch next week, right,
Speaker 6: so you're doing your which watch?
Speaker 10: You get the pro with the what is the ultra
Speaker 10: to the black with the titaniums shiny one?
Speaker 7: Does it even tell time?
Speaker 10: I actually have never used one of those watches, but
Speaker 10: this is the first time I'm going to experiment with
Speaker 10: the bigger one.
Speaker 7: Jesus.
Speaker 3: Okay, what do I mean? You don't see? How do
Speaker 3: you respond? Anerog rana to the gloom? The breath of gloom?
Speaker 3: Right now? On AI.
Speaker 10: It's healthy, right, it is always healthy. We went through
Speaker 10: the same thing and the Internet bubbled when we had
Speaker 10: the two thousand crash, and after that three years nothing happened.
Speaker 10: But Internet is still so much bigger, So we're going
Speaker 10: to go through massive amounts of ups and downs in
Speaker 10: the stocks going moving up and down. But I think
Speaker 10: the buildout is real.
Speaker 2: The market lifted when interrugrs is great, Rana with This
Speaker 2: is Bloomberger Intelligence.
Speaker 3: For those in the terminal, go to Bloomberg Intelligence. Good morning,
Speaker 3: if you won the day.
Speaker 2: To look at the front page, it's a Lisa Matteo
Speaker 2: our Lisa, what do you have?
Speaker 7: All right?
Speaker 1: So we report on business here, but we also report
Speaker 1: on politics. We talk about politics here. There's a new
Speaker 1: poll out from the Associated Press that says, well, Americans,
Speaker 1: they're getting some political fittigum, so some of them want
Speaker 1: to tune off a little bit. So they're saying about
Speaker 1: half Americans say they do follow political news extremely very closely,
Speaker 1: but six and ten said they have to limit it
Speaker 1: how much information they consume because they feel a bit overloaded.
Speaker 1: There's a lot of information, right you get it on
Speaker 1: your phone, you can see it on social media. People
Speaker 1: are saying they're having a hard time figuring out what's
Speaker 1: not true.
Speaker 3: On the debate, they have like sixty some million people
Speaker 3: tuned in more than Biden drunk.
Speaker 6: I kind of like this short little season that we're having.
Speaker 6: Now love it elections like a snap election exactly, we
Speaker 6: should do this.
Speaker 3: I like this that's working on.
Speaker 1: But it's a break down, like women more likely to
Speaker 1: feel that they need to limit it more than men.
Speaker 1: So that's the difference there. But yeah, a little bit
Speaker 1: of political fatigue.
Speaker 7: They're allowed.
Speaker 1: Yes, we're not in the Swing States.
Speaker 6: So we're not in a city because every single ad
Speaker 6: on ever, it just there is.
Speaker 1: Yeah, it's everywhere.
Speaker 3: Yeap.
Speaker 1: Next, prep schools. I know you love education, So prep
Speaker 1: schools not just for the elite. The Wall Street Journal
Speaker 1: is saying that more are offering free rides for the
Speaker 1: middle class. So the latest example Deerfield Academy, it's a
Speaker 1: Massachusetts boarding school. Yep, it's going to start giving a
Speaker 1: free ride to any admitted student whose family earns less
Speaker 1: than one hundred and fifty thousand dollars a year. The
Speaker 1: school costs seventy five thousand dollars a year, forty eight
Speaker 1: students paying nothing to attend so far. Wall Street Journal
Speaker 1: says recruiting diverse students, it really helps get them access
Speaker 1: to academic athletic programs to help them get to those
Speaker 1: elite colleges, and it also helps the wealthier students get
Speaker 1: exposure to people of different backgrounds as well. But there's
Speaker 1: other schools that have been doing it for years you
Speaker 1: have in New Hampshire Phillips Academy in New hamp Sure
Speaker 1: and also Grotten School and in Massachusetts that has a
Speaker 1: cap of about eighty thousand dollars.
Speaker 7: So more elite schools are starting to do that.
Speaker 2: These are the elite elite schools, and the question is
Speaker 2: down the food chain do they have a luxury to
Speaker 2: do that and they maybe don't have the allowments.
Speaker 6: Of exactly right time, it's all about the Lawrenceville and Lawrenshall.
Speaker 6: We have a seven hundred million dollars dowmon at Larncell,
Speaker 6: so they're able to be very helpful to a lot
Speaker 6: of families.
Speaker 3: So we'll have to see what's a challenge next week.
Speaker 1: Continuing with education. Okay, so we heard about the Wall
Speaker 1: Street Journal's top Colleges.
Speaker 3: List, right it's about after Thoughts grades.
Speaker 1: We heard after thought might like this list. I'm not sure,
Speaker 1: but this is the school about the best party colleges. Oh,
Speaker 1: thank you, Lisa, Are you taking notes? Where's Rutgers? Where's Rutgers?
Speaker 1: Rutgers is not on the list, unfortunately. Who do you
Speaker 1: think is number one?
Speaker 7: Okay?
Speaker 1: Most of them in the South and the Midwest, they
Speaker 1: hold those top four come on come.
Speaker 6: Onshill Lane to Charlotte, New Orleans and Ian Bremmer.
Speaker 3: Good morning from Party School, Norland.
Speaker 1: Number one party school according to the Wall Street Journal.
Speaker 1: Number two University of Dayton.
Speaker 7: They're actually one.
Speaker 1: Of two schools in Ohios that made the top ten.
Speaker 1: Another private school. When you get to public schools. Number
Speaker 1: three Florida State University.
Speaker 3: We're talking, it's on.
Speaker 1: My daughter's list.
Speaker 7: I don't know about that. I'm crossing it off, crossing
Speaker 7: it up.
Speaker 1: But they did. They surveyed a lot of kids. They
Speaker 1: asked them about student life, career prep, classroom souting halls,
Speaker 1: but they also asked them about the party scene.
Speaker 7: So if you want to know about Tulane, here it is.
Speaker 1: Two out of every three students said that they can
Speaker 1: find a party on campus.
Speaker 7: Five or more nights of the week.
Speaker 1: If they looked, forty percent said that it was true
Speaker 1: seven nights a week.
Speaker 10: Wow school on.
Speaker 6: The Listen, it's parennially on the list. From mister Tom
Speaker 6: Keane University of Colorado at bord.
Speaker 1: I'm shut and my son's alma mater as well.
Speaker 2: Bolder collars, a brass plaque at the sink and we'll
Speaker 2: leave it.
Speaker 1: Yeah, you have one.
Speaker 7: More for us. I do this is a record.
Speaker 1: Okay, an American woman has cycled around the world.
Speaker 7: The people, okay, and you're one of them.
Speaker 1: You do need planes though, because you know you take
Speaker 1: your bike, you need the planes.
Speaker 7: Okay, let's be open about that.
Speaker 1: Eighteen thousand miles around the world. She's thirty eight years old.
Speaker 1: Lale Wilcox. One hundred and eight days. That's what it
Speaker 1: took her to do it. But Guinness laid out these rules.
Speaker 1: So basically, she hopped on her bike in Chicago and
Speaker 1: May she rode east to New York, flew to Portugal,
Speaker 1: crossed over to Europe, then traveled to Australia, New Zealand
Speaker 1: finished with a ride from Anchorage, Alaska, back to Chicago
Speaker 1: on Wednesday.
Speaker 7: I can't believe she did all this.
Speaker 1: She did have a lot of people though, going along
Speaker 1: with her because she was posting on social media where
Speaker 1: they were going and they joined in.
Speaker 2: So Lisa Matello with the news today. Thank you, Lisamtez.
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