Speaker 1: Bloomberg Audio Studios, podcasts, radio news a single best idea
Speaker 1: and we could have done five single best ideas today.
Speaker 1: Just a brilliant day, particularly for discussion of the stock market.
Speaker 1: To use a phrase, it's antiquated. Amy wu Silverman was
Speaker 1: brilliant on derivative strategy. Joe Mazzola Charles Schwab maybe the
Speaker 1: best interview we've ever done with them. He was just
Speaker 1: outstanding on the flows that are going on out there
Speaker 1: right now in this whole battle between the unknown unknowns,
Speaker 1: much of it coming out of our politics and the
Speaker 1: idea of retail versus institutional. Just a great, great day
Speaker 1: for equity study. We started strong with Edward Yardenny in
Speaker 1: October of I believe it was twenty twenty two. Ed
Speaker 1: Jardanny and separately Ral fancomepad get on board. It is
Speaker 1: a new bull market, and your Denny reaffirm that today.
Speaker 2: I have been recommending overweighting the US since twenty ten,
Speaker 2: and it's worked out extremely well. But I could overstay
Speaker 2: my welcome here. Certainly during the first quarter it made
Speaker 2: more sense to overweight Europe than it made sense to
Speaker 2: overweight the United States. But I kind of view that
Speaker 2: as just a temporary situation. I think the US will
Speaker 2: continue to outperform, though it is it's that perform for
Speaker 2: so long that it's about seventy five percent of the
Speaker 2: market cap of the global stock market. So I mean
Speaker 2: there is a limit to how much better it can get,
Speaker 2: I suppose, but it's been quite a run.
Speaker 1: And your Denny of your Denny research, and then we
Speaker 1: looked at real estate, Brad Case, we don't have ound enough.
Speaker 1: He's with Middleburg Communities, which is in the Greater Virginia area,
Speaker 1: and they're doing multifamily and they're thinking about housing. He
Speaker 1: gets away with this because of his heritage of Fannie
Speaker 1: May economics and also working with the great Robert Schiller
Speaker 1: at Yale University. What a privilege that is. Brad Case
Speaker 1: was incendiary today over rent versus buy.
Speaker 3: Let's listen, Well, that is usually the case, and the
Speaker 3: reason is that people don't realize when they buy a
Speaker 3: house they have to give up a huge chunk of
Speaker 3: money the down payment, and if instead they put that
Speaker 3: money into productive investments, especially in the stock market, then
Speaker 3: in the long run they would probably build more wealth.
Speaker 3: So there is this myth that the way to build
Speaker 3: wealth is to buy a house, and the reality is
Speaker 3: that usually that's not the case. If you're able to
Speaker 3: buy a house when houses are cheap and the stock
Speaker 3: market is overvalued, then great, take your money out of
Speaker 3: the stock market and buy a house. That's not our
Speaker 3: situation right now. Right now, houses are very expensive and
Speaker 3: if houses crashed, then you'll probably see the stock market
Speaker 3: crash at the same time. So generally speaking, to build wealth,
Speaker 3: you're better off renting.
Speaker 2: Now.
Speaker 3: There are other reasons to buy, and some people want
Speaker 3: to buy just so they can say they're homeowners. That's
Speaker 3: not the same as building wealth.
Speaker 1: What a response we got from those comments. Thank you
Speaker 1: for the heated emails and a huge response out on YouTube.
Speaker 1: We have a live chat on YouTube and sometimes it
Speaker 1: really gets going. Braad Case Today on our podcast on Apple,
Speaker 1: on Spotify across the nation, but mostly on YouTube podcasts.
Speaker 1: This is a single best idea