Boomer Buying Habits, Google’s Big Antitrust Loss, & Small Caps in 2024 12/12/23

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 12 December 2023

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

In a recent op-ed, Ariel Investments Co-CEOs Mellody Hobson and John Rogers predict investors’ best bets for 2024. Hobson and Rogers explain why, after a big year for tech’s ‘magnificent seven,’ it may be time to cash in on smaller stocks. Boomers are driving spending! Bank of America Institute has released new data on consumer spending in November; head of the Institute Liz Everett Krisberg discusses the highlights, including spending trends across Gen Z, millennials, Gen X, and boomers. Plus, Hasbro is cutting 20% of its workforce, teens are on YouTube and TikTok “almost constantly” and Epic Games has won its antitrust lawsuit against Google. Steve Kovach - 06:25 Liz Everett Krisberg - 15:30 Mellody Hobson & John Rogers - 24:23 In this episode: Andrew Ross Sorkin, @andrewrsorkin Becky Quick, @BeckyQuick Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C. NBC producer Katie Kramer, today on Squawk Pot.
0:09.0	Setting up your financial success in 2024, Ariel Investments Co-CEOs predict a move away from Tech's
0:15.9	Magnificent Seven in the New Year.
0:18.0	Melody Hobson?
0:19.0	Those seven stocks are 6,000 small-cap stocks.
0:22.2	That to us means things have to start moving the other way.
0:25.4	In John Rogers. It reminds us so much of the internet bubble and when that
0:30.3	bursts, as we know, it was a great time for small value as the growth stocks
0:34.3	collapsed.
0:35.3	Okay, Boomer.
0:36.7	Bank of America's latest consumer data by Jen from the head of the B of A Institute.
0:41.9	What we've seen really all year is the boomers are driving the spending.
0:45.8	Plus, Google's stunning antitrust loss.
0:49.2	We've debated App Stores for a very, very long time.
0:52.1	Our Steve Kovac on Epic Games big win
0:54.8	and the impact on another phone company, Apple.
0:58.0	The app store, the margins are so good.
1:00.1	It's so profitable for them.
1:01.8	And kids, they're on social media.
1:04.6	They might have been polling the Sorkin children.
1:06.8	All the time.
	...

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