Comments
Transcript
-
LBShouldn't we be looking at the multiples in terms of gold ounces instead of US Dollars? I mean, it seems a bit incorrect to keep using the historical averages without taking into consideration that the "measurement unit" of value has changed since 1971 and the purchasing power of the all fiat currencies keep falling. It is like having used the imperial system for decades then switching to the metric system without doing the unit conversion. When measured in constantly debased fiat currencies the multiples could keep climbing to higher and higher levels, it just becomes a matter of how much the fiat currency is being debased.
-
CETest Test Test
-
JBQuite digging the matching shirts, is Max forecasting shirt colours? I'm trying to learn, with all this, and ongoing, money creation, is the market just not pricing in the inflation to come? Feedback much appreciated.
-
JJBoth of you did a great job. Max is much more than a moderator and adds insight to the discussion. More Max!
-
CRI agree, more Max.
-
CRBravo to Max Wiethe for such great questions today. fwiw he raised a question I posed here in the comments last week about what are the actual mechanics of how QE makes its way into increased stock prices. Ed did his best to answer and his take is that.. it is the psychology of the Fed having the market's back that makes market participants bullish and bid up stocks. I had never understood how QE actually makes stock market go up, so thanks for this q&a guys. I personally feel that there is some way the Fed (using Black Money) has a way to directly bid up stocks by getting their henchmen (select hedge funds) to directly buy stocks and the Fed pays them back in cash under the table. Because Max has a great point.. if it is just Psychology that the Fed is using to ensure markets go up, itsn't this leaving a lot to chance? The market could decide not to cooperate with this QE "psychology" and where would that leave things? I personally feel the Fed has found a way to secretly directly buy stocks. Thanks again gentlemen.
-
TSJust a suggestion, only one person's opinion: I've got too many places I can go to where they freely share their political opinions, election prognostications, virus predictions, etc. There's plenty of content for that. It would be refreshing to see RealVision step back from political and epidemic predictions. I get that you're trying to handicap the election for investors, and you think you've read some truly insightful stuff on where the "epidemic" is going. I just don't value the insight much. I'd prefer to see less focus on Corona virus and November and more focus on other topics. Again, just one subscriber's opinion.
-
ABGreat conversation. I also just watched an interview on youtube with Gary Schilling. Having him on RV would be amazing to explore in detail his bullish views of bonds and his very bearish view of stocks.
-
DCHistory so far has proven that the current gov is just as likely to deploy MMT as the dems. So it would be silly to vote on that topic, it's bipartisan. I think the Dems will push taxes up, having a negative affect of employment. I'd vote specifically for that reason. Dems are more likely to crash the market.
-
ALSolid daily briefing guys, nice one
-
MCYou do a great job Max. You are very engaging and ask good challenging questions. Gopd to see you challenge Ed's answers. The $1.6trn TGA balance would have been a good topic to bring up. Thats a very big thing that looks likely to be deployed in the next few months as well, esp as the news at the margin gets worse..
-
mwThe investment banks literally buy stocks. Thats how.
-
JRIf the Democrats use the MMT framework to justify high multiplier spending on things that are not saved - Medicare for all, free education, UBI, etc - that would strongly increase consumer demand, and therefore may be a positive for the stock market. Corporate taxes may go up but consumer demand may also go up. Stronger companies that serve the consumer better would do better than companies looking for government handouts.
-
DSGreat intro Mr. Cooper. Other corporations might follow Mr. Buffett in buying assets and not corporations during the pandemic. Buying the assets leaves most or all the corporate liabilities with Dominion Energy. It is a clean natural gas play. Mr. Buffett was not born yesterday. DLS
-
BBA cursory look at overall economic direction suggests to me that inequality is shifting from people to corporations. Who's 'back' does the Fed really have? Certainly not the Russel 2000. Phrases like 'too small to save' are popping up. What might be the lag before the unprecedented rate of bankruptcies? Common sense suggests restructuring and starting new businesses to fill opportunities takes many months or years. In the interim can the markets become bifurcated - The 'Fed' winners and the untouchables?
-
SSLove Max. Never met a person from Ohio who wasn't an extremely nice guy. I have a bunch of friends from there.
-
TWDonald Trump loves two things more than anything else; being popular and building things. He might actually be the MMT candidate because congress will hold back Joe Biden’s spending much more effectively. Though Mr Biden certainly is leaning increasingly to the left; ultimately he is a moderate and he will better balance concerns across the political spectrum. How people speculate about future spending will drive markets in the near term but if wrong there will be a swing back fairly quickly as the reality emerges.
-
SPWhat is a cheap PE ratio when 10 years are below 1%?
-
SLHow bout a black shirt with a RealVision logo?
-
SBEd, what kind of bike do you ride? I have a specialized allez. Looking to upgrade to a carbon fiber soon.
-
DGShouldn't we start to see earnings estimates in the next couple weeks when companies start reporting. I don't think we need to wait 2or 3 months, unless they don't give forward estimates again.
-
MPIs there a data source (or platform) where we can track/identify (at least at a high level) where the 7.1 trillion goes?
-
BSGreat job Max... Keep it up. Glad to have you on RVDB.
-
SSMax and Ed are really good together.
-
JSBTW Biden has dementia!
-
CRInteresting, thanks. Could anyone tell what's behind USDTRY for the last 15 days it's like it's pegged... but I haven't seen such news
-
KHEd, it's good to hear you are a fellow cyclist! Some of the people that I have met while cycling have been changing over the years. Enjoy the ride!
-
MTI like what Max brings to the Daily Briefing. Good job.