Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: Single best idea and we'll make it quick today, inflation
Speaker 2: data tomorrow. Sort of as we're sliding into the end
Speaker 2: of the year, and one of the things we're sliding
Speaker 2: into are those dreaded outlooks forward from everyone I have
Speaker 2: was in an uber today that Bentley was down, and
Speaker 2: I was in the uber and the guy handed me
Speaker 2: his twelve page outlook for twenty twenty five. Who doesn't
Speaker 2: have an outlook for twenty twenty five? Some of them,
Speaker 2: you hope, are based on some actual evidence and serious
Speaker 2: forecasting about what is to come. Cam Dawson with New
Speaker 2: Edge Wealth her foundation, her optimism is based on earning's growth.
Speaker 2: It's a shocking double digit number. Here's Cam Dawson.
Speaker 3: What's interesting is that in consensus that earnings growth is
Speaker 3: expected to continue into twenty twenty six at twelve percent growth,
Speaker 3: says consensus. But the good thing to remember is that
Speaker 3: consensus is not necessarily a crystal ball and doesn't mean
Speaker 3: it's going to come true. There's no better example of
Speaker 3: this than consensus estimates for small caps. They've been cut
Speaker 3: by thirty percent this year over the course of the year,
Speaker 3: as small cap earnings continue to disappoint, and so when
Speaker 3: we look into next year, small cap earnings are expected
Speaker 3: to grow forty four percent next year, the highest bar
Speaker 3: you can find in this market, but we don't know
Speaker 3: if that necessarily deserves the benefit of the doubt because
Speaker 3: of this revision cycle lower that has persisted.
Speaker 2: It shows us some of the variability out there. Kim
Speaker 2: Dawson there with some stunning variants for small casts, but
Speaker 2: also for large caps as well. I'll just simply say,
Speaker 2: looking back eighteen months in this great bull market, it's
Speaker 2: just real simple. There's been a complete underestimation of America's
Speaker 2: nominal and real economic growth and the margin persistency that
Speaker 2: we saw under corporate earnings. Time will tell. On the
Speaker 2: Eastern Mediterranean, we spoke with Mick Moulroy. He's a former
Speaker 2: Assistant Secretary of Defense with two tours a duty won
Speaker 2: with Secretary of Mattis and a real expert here on
Speaker 2: what we're gonna see. We had a piercing discussion on
Speaker 2: the collapse of Syria, the future of the levat Mick
Speaker 2: Molroy the Global Institute.
Speaker 1: So it certainly was an inflection point when it comes
Speaker 1: to the US's view of that part of the world.
Speaker 1: Of course, hundreds of individuals, US Marines primarily were killed.
Speaker 1: The embassy was attacked, man he were killed there, and
Speaker 1: that of course was done by Hesbola, who up until
Speaker 1: the time of nine to eleven was the terrorist organization
Speaker 1: most responsible for killing Americans because of primarily the event
Speaker 1: we just reference, But that was an inflection of point
Speaker 1: of how we view ourselves in the Middle East, how
Speaker 1: we view ourselves as mediators in all the conflicts that
Speaker 1: happen there, and as we're viewed by the people that
Speaker 1: are there. So I think that is a very important
Speaker 1: point in part of history.
Speaker 2: On a time back to a morning when we woke
Speaker 2: up in America with President Reagan to changing in a
Speaker 2: horrific death in Lebanon. It continues to haunt us forward
Speaker 2: on this topic as we look into twenty twenty five,
Speaker 2: got a whole set of guests lined up around crushingly
Speaker 2: busy schedules. Just as one example, Julie Norman of the
Speaker 2: University College London schedule to join us, many many others
Speaker 2: as well. On your commute across the nation, Apple CarPlay
Speaker 2: and roight outo Serious Exemp Channel one twenty one far
Speaker 2: more importantly, building out YouTube. It's our big goal for
Speaker 2: twenty twenty five. You get people to subscribe to Bloomberg
Speaker 2: Podcasts and listen to us each in every morning. Also
Speaker 2: out on YouTube podcasts. Single best sen