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Did anybody get anything out of this week’s show? The first 2 guests were well qualified. The woman was from Invesco. But I thought they spoke in broad generalities. Geez - Can we stop second guessing what the Fed will do next? Even the Fed members sound clueless. And to say China “might be” a productive investment going forward really doesn’t say much. Like it or not like? What percentage would you so allocate?
I can’t stomach Summers anymore. Obviously bright and highly educated. His particular weekly “take” on inflation & Fed policy wouldn’t seem to require what sounds like 10 minutes of droning. You don’t suppose they’re paying him by the number of words?
Thanks @BaluBalu for posting all the shows. (I always record / replay the show thru my Hulu subscription). While I didn’t take away much this week, often the guests are really good and leave some incisive commentary.
Hoping others can contribute here whatever substance, insights, advice they gleaned from this week’s program? While the show shines occasionally, overall it bears little resemblance to the spontaneity and expert analysis served up by a distinguished array of financial gurus on Louis Rukeyser’s old Wall Street Week.
@hank, I only watched the first five minutes or so and likely not get to it until late Sunday. A
It would be nice to hear any takeaways after you’ve watched. Generally, the recent rally in equities seems to have surprised everyone, including most of WSW’s guests. If you listened to Summers every week I suspect you would have burried your head in the sand the past 6 months (financially speaking). One notable exception is frequent guest, Sarah Ketterer, Causeway Capital CEO & Fundamental Portfolio Manager. She’s been more positive than most over the year I think. Schwab’s Liz Saunders, while more cautious, also offers a balanced and circumspect picture.
One (unrelated) sign that things have improved is that PRWCX has clawed its way back from doubled-digit loss territory to only - 4.71% YTD.
The host asked the women about China. Investible? ..... Blah blah blah. Then he asked again, particularly with reference to current politics. And from where I sit, the Communists' policies and behavior makes them a force to be suspicious of, and not to be embraced or accepted. The women's responses sounded pretty much in line with each other. Which is to say that ethical considerations should just be ignored and dissembled about. In fact, an entire double-speak vocabulary has been put together so that such issues can be circumlocuted. But this is not NEWS--- IS it?????
There is an interview in the current Barron's from a China fan, LINK1LINK2
Virginie MAISONNEUVE, Allianz Global. An interview focused on China (VM has followed China since the age of 5, has degree in Mandarin, has worked in China, specializes in China ESG). China-Taiwan conflict is not in anybody’s interest. The US-China trade war was misplaced by the US concerns. Treat China as a separate asset class, not just a part of the EMs. China is often out of sync with the others, so that provides important diversification benefit. China offers opportunities in innovative/disruptive techs, biotech, digitization. Chinese equities are volatile but attractive on earnings and valuations. Her big themes include quality-value (i.e. not deep-value), quality-growth, high-impact global themes (energy, food, water, AI, cybersecurity), risk control with ESG (her “new normal” despite temporary criticisms/doubts now).
Listened to Summers again. He’s afflicted by the “ahh” syndrome which detracts from his speech delivery. These are known as verbal pauses. A good speech coach could correct that with some training. His delivery is also very slow. Such defects are perhaps irrelevant when he’s sitting in on a meeting with other college professors. Not so good on TV. For a sharp contrast listen to host David Weston whose delivery is virtually free of verbal pauses.
None of this is to suggest speaking ability affects one’s financial acuity. It does not. But listening to LS for 15 minutes ought to provide a lot more information and insight than it seems to. In a sense, delivery does affect the end result.
I’ve watched / listened “off & on” a few times over the day (background noise). I do think all the guests (perhaps except Summers) were very positive on high yield bonds - seeing more growth & value potential there than in equities. Most, especially Blackrock’s Rieder, also mentioned that some select areas of the stock market have potential - but more of a waiting game. Overall, they cast a cloud over the equity markets.
I’ve watched / listened “off & on” a few times over the day (background noise). I do think all the guests (perhaps except Summers) were very positive on high yield bonds - seeing more growth & value potential there than in equities. Most, especially Blackrock’s Rieder, also mentioned that some select areas of the stock market have potential - but more of a waiting game. Overall, they cast a cloud over the equity markets.
Agree. Reider is enjoyable to listen to. From the Dept. of Confirmation Bias: I'm glad for my 11% of portfolio in junk bonds TUHYX.
This was my first time listening to Tracy Alloway. I was impressed with her thoughtful insights. Kristina Hooper was just ok. The Odd Lots podcast which Ms. Alloway co-hosts has been referenced by other financial writers/bloggers. I'll have to give it a listen...
This was my first time listening to Tracy Alloway. I was impressed with her thoughtful insights. Kristina Hooper was just ok.
LOL - I had the opposite reaction. Thought Alloway (Bloomberg Media) came off as dominating the discussion and professing to know more than she does. Hooper (Invesco) was more laid back. More mature IMHO. Hooper feels that unless your investment horizon is measured in just months, some equities ought to be held. But I confess to being partial to Invesco. Both ladies were interesting to listen to. And, I’ll defer to your better judgment on the matter @Observant1
A pretty good show all around. The other guests including Summers were enlightening. The guy from Willmont Willett manages Michael Bloomberg’s personal wealth. Remarked more than once that his firm has the lowest allocation to equities it’s ever held. But he would not / did not give any percentage. Left us to guess.
I wouldn't say my judgement was better... Our opinions regarding these two guests just differed. The segment with Steve Rattner, chairman and CEO of Willett Advisors, was also interesting. He believes that the biggest investment risk is rising interest rates. Mr. Rattner thinks we will have a recession but doesn't know how much of this is priced in the markets. Willett Advisors' current equity allocation is the lowest ever in the firm's 12 or 13 years of existence. He was somewhat more constructive on commodities and energy but remains cautious overall.
yes, i've seen rattner on there before. cards close to his vest. my own portfolio pain is due to an overweight in equities. somebody please point me in the direction of the light at the end of the tunnel. until then, i'll enjoy watching my stuff grow. serrano peppers, okra.
“cards close to his vest” - I’d have more faith in that type than those that “let it all hang out.” Re the latter I’d wonder if they were hyping something they‘d like to dump or perhaps telling you what they were doing a month or two ago. Why give away your best ideas for free?
“cards close to his vest” - I’d have more faith in that type than those that “let it all hang out.” Re the latter I’d wonder if they were hyping something they‘d like to dump or perhaps telling you what they were doing a month or two ago. Why give away your best ideas for free?
Comments
I can’t stomach Summers anymore. Obviously bright and highly educated. His particular weekly “take” on inflation & Fed policy wouldn’t seem to require what sounds like 10 minutes of droning. You don’t suppose they’re paying him by the number of words?
Thanks @BaluBalu for posting all the shows. (I always record / replay the show thru my Hulu subscription). While I didn’t take away much this week, often the guests are really good and leave some incisive commentary.
Hoping others can contribute here whatever substance, insights, advice they gleaned from this week’s program? While the show shines occasionally, overall it bears little resemblance to the spontaneity and expert analysis served up by a distinguished array of financial gurus on Louis Rukeyser’s old Wall Street Week.
One (unrelated) sign that things have improved is that PRWCX has clawed its way back from doubled-digit loss territory to only - 4.71% YTD.
Virginie MAISONNEUVE, Allianz Global. An interview focused on China (VM has followed China since the age of 5, has degree in Mandarin, has worked in China, specializes in China ESG). China-Taiwan conflict is not in anybody’s interest. The US-China trade war was misplaced by the US concerns. Treat China as a separate asset class, not just a part of the EMs. China is often out of sync with the others, so that provides important diversification benefit. China offers opportunities in innovative/disruptive techs, biotech, digitization. Chinese equities are volatile but attractive on earnings and valuations. Her big themes include quality-value (i.e. not deep-value), quality-growth, high-impact global themes (energy, food, water, AI, cybersecurity), risk control with ESG (her “new normal” despite temporary criticisms/doubts now).
None of this is to suggest speaking ability affects one’s financial acuity. It does not. But listening to LS for 15 minutes ought to provide a lot more information and insight than it seems to. In a sense, delivery does affect the end result.
From Bloomberg site:
https://www.bloomberg.com/btv/series/wall-street-week
From Bloomberg site:
https://www.bloomberg.com/btv/series/wall-street-week
From Bloomberg site:
https://www.bloomberg.com/btv/series/wall-street-week
I was impressed with her thoughtful insights.
Kristina Hooper was just ok.
The Odd Lots podcast which Ms. Alloway co-hosts has been referenced by other financial writers/bloggers.
I'll have to give it a listen...
A pretty good show all around. The other guests including Summers were enlightening. The guy from
WillmontWillett manages Michael Bloomberg’s personal wealth. Remarked more than once that his firm has the lowest allocation to equities it’s ever held. But he would not / did not give any percentage. Left us to guess.I wouldn't say my judgement was better...
Our opinions regarding these two guests just differed.
The segment with Steve Rattner, chairman and CEO of Willett Advisors, was also interesting.
He believes that the biggest investment risk is rising interest rates.
Mr. Rattner thinks we will have a recession but doesn't know how much of this is priced in the markets.
Willett Advisors' current equity allocation is the lowest ever in the firm's 12 or 13 years of existence.
He was somewhat more constructive on commodities and energy but remains cautious overall.
Odd Lots:
https://www.bloomberg.com/oddlots-podcast