Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: Single best idea, I don't have a podcast. Thank you
Speaker 2: for your attention. We can see it on Chartable. I
Speaker 2: mean it's really I'm really gratified by your ability to
Speaker 2: take six minutes of what we do usually two thoughts
Speaker 2: from some of our guests. When we put it together,
Speaker 2: we've got four or five six thoughts, have to figure
Speaker 2: out which ones to play. It's usually it's pretty random,
Speaker 2: and it's it's just around the good conversation. We have
Speaker 2: an economics, finance, investment, and international relations. An intense conversation
Speaker 2: today with James Strevetas he's a admiral of the United
Speaker 2: States Navy. His Leader's Bookshelf is one of my top
Speaker 2: top recommendations. It is an outstanding book to get you
Speaker 2: in front of thirty, forty and fifty the other books
Speaker 2: that are required reads, just as comments on Lee at
Speaker 2: Gettysburg and that book are extraordinary. Can't say enough about
Speaker 2: Leader's Bookshelf, and of course my Book of the Summer,
Speaker 2: I believe last summer, that summer before twenty and thirty
Speaker 2: four speaks to the projection of the United States and
Speaker 2: Navy around the world and in the mood now, and
Speaker 2: particularly in the mood in Milwaukee is isolationism. Admiral Stravetas
Speaker 2: on America's new isolationism.
Speaker 3: Let's look at history late twenties. We tried this. We
Speaker 3: walked away from the League of Nations. We built enormous
Speaker 3: tariff barriers, the hally smooth tariffs. We isolated from the world.
Speaker 3: How did that work out? We cracked the global economy.
Speaker 3: You can drop a plumb line to fascism. So history
Speaker 3: is instructive.
Speaker 2: Number two.
Speaker 3: We're so globally interconnected economically that trying to simply walk
Speaker 3: away from the world in a geopolitical sense will crack
Speaker 3: those relationships and leave Russia free to operate and do
Speaker 3: what it wants to quote somebody in Europe or China
Speaker 3: to do the same in Asia. So the trade, the economics,
Speaker 3: and third, and maybe most important, it's the values. If
Speaker 3: we isolate ourselves, the jungle will grow back, and democracy, liberty, freedom,
Speaker 3: all of the things we cherish will be at risk.
Speaker 3: I think those are the three key arguments.
Speaker 2: James Travitas and to get some fiction around this, nonfiction
Speaker 2: two books two thousand and thirty four of my Book
Speaker 2: of the Summer recently extremely good on China, on the
Speaker 2: US and on India, and also a twenty year sequel
Speaker 2: from two thousand and thirty four to two thousand and
Speaker 2: fifty four that's just coming out recently. Stravitas and Ackerman
Speaker 2: and the two of them together are just outside standing
Speaker 2: perspective perhaps on where we are heading. A good conversation
Speaker 2: with a gentleman from Brown Brothers Harreman, Scott Clemmens, besides
Speaker 2: his incredible philanthropic work, particularly in literature at the University
Speaker 2: of Virginia, really original work holds court at Brown Brothers
Speaker 2: Harriman on the equity markets and of course around earning
Speaker 2: season coming into late July, that is about technology. And
Speaker 2: of course Johnson and Johnson today not doing all that well.
Speaker 2: Don't know where the stock is, but you know it's
Speaker 2: like a non tech company doing new and interesting things
Speaker 2: to the other four hundred and eighty three SMP stocks.
Speaker 2: Do they need to be more like in Vidia?
Speaker 1: In video is great? Don't get me wrong. You don't
Speaker 1: want to be like in Vidia. You want to benefit
Speaker 1: from in video. So technology in a portfolio isn't necessarily
Speaker 1: only technology company. This technology enabled companies, the companies that
Speaker 1: benefit from that, I think are every bit is important
Speaker 1: going forward as the companies that actually ate the benefit
Speaker 1: that was the lesson of nineteen ninety nine in the
Speaker 1: dot com boom. The companies that were the forefront of
Speaker 1: that wound up being at the bleeding edge of that.
Speaker 1: The companies that benefited from that to the own benefit
Speaker 1: of their own profit margins and their own competitive positioning,
Speaker 1: those are the ones that had stag power.
Speaker 2: Scott Clements, Brown Brothers Harriman can't say enough back to
Speaker 2: back Bloomberg BusinessWeek Wow. In addition with mister Arnauld of
Speaker 2: LVMH and now an addition with the former President of
Speaker 2: the United States Donald Trump, Bradstroone. Bradstone and his team
Speaker 2: have pieced together a superb effort on the business, the economics.
Speaker 2: The Joe Rome Powell of where President Trump is heading
Speaker 2: if he's elected in November must reading from Bloomberg BusinessWeek
Speaker 2: on Apple Podcasts. This is single best idea They remain
Speaker 2: with the manage