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Motley Fool Hidden Gems Investing

Are SPACs Done?

Motley Fool Hidden Gems Investing

The Motley Fool

Business, Investing

4.33.1K Ratings

🗓️ 22 September 2022

⏱️ 23 minutes

🧾️ Download transcript

Summary

What does it say that no private company wants a check for $1.1 billion? (0:21) Bill Mann discusses: - The stock market being surprised that the Fed raised rates by 0.75% (as almost everyone expected) - Chamath Palihapitiya shutting down two SPACs and returning money to investors - Whether SPACs are essentially over (13:02) Rachel Warren talks with author Ross Dawson about his new book Thriving on Overload: The 5 Powers for Success in a World of Exponential Information. Got questions about stocks? Drop an email to podcasts@fool.com or call the Motley Fool Money Hotline at 703-254-1445. Host: Chris Hill Guests: Bill Mann, Rachel Warren, Ross Dawson Producer: Ricky Mulvey Engineers: Dan Boyd, Brandon Gentry Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Was anyone surprised by the feds interest rate hike yesterday?

0:09.2

Turns out, yeah, a lot of people actually were.

0:12.4

Motley Fool Money starts now.

0:14.8

I'm Chris Hale joining me today.

0:22.7

He's backed by popular demand, Motley Fool Senior Analyst Bill Mann.

0:25.7

Thanks for being here.

0:26.9

That guy asked for me to come back and that's all it took, huh?

0:29.9

Well, in this case, that guy is me because I wanted to talk to you about the fed and the

0:35.9

announcement yesterday afternoon.

0:38.0

And I said on yesterday's show, I think the way to bet in terms of what happens is that

0:44.6

there will be some sort of extreme reaction.

0:47.1

And I feel like I won that bet because Jay Powell came out and said, we're going to hike

0:53.8

rates by three quarters of a percent, which is the number that almost everyone who has

1:00.9

been talking about this used when talking about this.

1:06.1

And the market just went straight down.

1:08.4

And I asked you, who was surprised by this?

1:11.7

Who was just like, holy cow, I didn't think this was going to happen.

1:15.0

It's like, really?

1:16.0

That was all anyone was talking about for days, if not weeks.

1:22.8

That's like, you were serious about that?

1:30.7

In all seriousness though, it really wasn't my cousin of any reaction, wasn't it?

1:36.3

It was.

...

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