Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: Single best ideas maybe to get out of the triple
Speaker 2: everge all cash run and possibly participate in the equity market.
Speaker 2: That was a great theme today for us, and it'll
Speaker 2: be a theme. My own pet theory is June thirty, becons.
Speaker 2: That's the end of the second quarter, that's the end
Speaker 2: of the first half for so many and there's a
Speaker 2: lot of people going, Okay, what do I own? What
Speaker 2: do I want to see on paper? June thirty. There's
Speaker 2: a little bit of what we call window dressing out there.
Speaker 2: Mona Mahajan is at Edward Jones. They have a century
Speaker 2: heritage across America of helping people get over the fear
Speaker 2: of being in the market. Here is Mona Mahajan on
Speaker 2: what she observes of this great bull market.
Speaker 1: We recently read numbers that show the average SMP five
Speaker 1: hundred bull market lasts about five point six years. You're
Speaker 1: up about one hundred and ninety two percent in price appreciation.
Speaker 1: And keep in mind, even if you take out the
Speaker 1: last couple of really big ones, it's still four point
Speaker 1: three years and one hundred and twenty five percent. Where
Speaker 1: are we now? While we're about a year and a
Speaker 1: half since the low's in October twenty twenty two, and
Speaker 1: we're up about fifty percent. So could you argue that
Speaker 1: there's still time on your side? Is there still price
Speaker 1: appreciation ahead of us? History would certainly argue that, And
Speaker 1: so if you haven't gotten in yet, don't fear that
Speaker 1: you've missed the big run. History tells us that you
Speaker 1: could have a couple more years to go. And certainly
Speaker 1: the backdrop that we're seeing currently with not only know
Speaker 1: the FED potentially cutting rate inflation bumpy path, but maybe
Speaker 1: bumpy path lower. And we're also seeing, yes, perhaps a
Speaker 1: cooling in the economy and the consumer, but certainly not
Speaker 1: a recessionary environment. So good backdrop history is on our side.
Speaker 2: Monemahajen toward Jones also with us today, Barry Ritholts, he's
Speaker 2: been a little bit invisible because he's doing a new book,
Speaker 2: which is always timely. His book Out of the Crisis
Speaker 2: was really profound. Barry Redolts of course doing master's in business,
Speaker 2: and he is really looking at this market concentration story.
Speaker 2: He's stealing as much as he can from Sam Row.
Speaker 2: Samro Has. I think it's called a sub steck. I'm
Speaker 2: not even sure how he's doing it, but it's t
Speaker 2: k the initials t k er t k er. Samro
Speaker 2: really really suggests a very cost effective subscription to that
Speaker 2: with a compendium of charts from Wall Street and Samro
Speaker 2: I really had six strong charts this weekend, which mister
Speaker 2: Ridholts brought up, suggesting here is how to find the
Speaker 2: courage to be in the equity market. Of course we
Speaker 2: don't give opinion on this, that's not our job, but
Speaker 2: by holds Cell sam Row doing some great work, and
Speaker 2: Barry Ridolts mentioning that thank you to Dana Tell for
Speaker 2: being with us today as well. Definitive on American retail,
Speaker 2: we spent a lot of time on luxury Lewis Viuton
Speaker 2: lvm Ah, they're going to the Bulldoze. They're gorgeous skyscraper
Speaker 2: at fifty seventh and Fifth Avenue. I guess they're literally
Speaker 2: going to tear it down and build something new, and
Speaker 2: Dana was talking about how that's fresh for a luxury.
Speaker 2: Her single best buy for those looking for some way
Speaker 2: to spend money today is TJX of Boston. Of course,
Speaker 2: the discount merchandisers who do Dana says, such a good job.
Speaker 2: Our job is to get outside London, get outside Wall Street,
Speaker 2: get outside Hong Kong and Tokyo. You can do that.
Speaker 2: With Ian Shepherdson, he's some Newcastle and it was absolutely
Speaker 2: fascinating to talk to him about the British election, and
Speaker 2: he was piercing on Brexit, really really profound on saying
Speaker 2: Brexit's had a profound effect, a negative effect on his
Speaker 2: United Kingdom. Ian Shepperton and the economics of the moment.
Speaker 3: We've had such a long period where inflation was very
Speaker 3: low and people got used to not thinking about the
Speaker 3: price of things because they didn't change very much for
Speaker 3: a decade. And so now this this price level shock,
Speaker 3: I think has really come and disorientated people in a
Speaker 3: way that will fade. I mean, prices went up a
Speaker 3: lot in the nineteen seventies, but we got over it.
Speaker 3: It just took a long time. It took a very
Speaker 3: long time. I remember in the early nineties people telling
Speaker 3: me that the inflation in the seventies and eighties still
Speaker 3: wasn't probably beaten. You know, that was a long time
Speaker 3: after the shock. So you know, I don't think that
Speaker 3: Biden's going to be rescued by people just saying, okay,
Speaker 3: you know inflation is dwan, we're not bothered about the
Speaker 3: price level shock. I think that that's what I'll take
Speaker 3: A long time.
Speaker 2: Ian Shepperton of Pantheon, I can't say enough about his work,
Speaker 2: very visible on LinkedIn as well, and I just think
Speaker 2: he has a twisted in different view which frankly I
Speaker 2: don't understand. Being from Newcastle. I'm told it's rough. It's
Speaker 2: like sort of like Philadelphia, Phillies based. Well, it's a
Speaker 2: different game and Newcastle. But Ian shepperd'son, they're very very good.
Speaker 2: We will go into the rest of the week in
Speaker 2: this bull market. Who knows. I'm assuming we close green
Speaker 2: in the screen today, which maybe is a dangerous assumption,
Speaker 2: but nevertheless, in this extraordinary market, will continue to give
Speaker 2: you voices and coverage and just as importantly, not only
Speaker 2: a given voice, but the nuances and the change in
Speaker 2: their view programming note I learned today David Gura of
Speaker 2: The Big Take will give us debate coverage from Atlanta.
Speaker 2: Really looking forward to that. Out to June twenty seventh,
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