BREAKDOWN: S&P5 vs. S&P 500: The Real Story of the Stock Market Recovery
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 19 August 2020
⏱️ 18 minutes
🧾️ Download transcript
Summary
The S&P 500 has recovered to hit new all-time highs but how real is it, and how are leading finance minds interpreting the recovery?
This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.
Today, NLW debuts a new format: “10 Takes in 10(ish) Minutes.”
In this analysis, he looks at 10 takes surrounding the S&P 500’s return to positive territory on the year, including:
- Great American comeback
- Market disconnect and widening inequality
- Don’t fight the Fed
- To the Stoolies go the spoils
- Stock splits and SPACs
- It’s Tech vs. everything else
- Cantillon insiders FTW
- A new era of global liquidity?
- You’d have done better with gold
- You’d have done a lot a lot better with bitcoin
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Transcript
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| 0:00.0 | This is the part of the market recovery narrative that is on the one hand the most obvious |
| 0:04.8 | and on the other hand, the most ignored by media. This is not a story of S&P 500 success. This is a story |
| 0:12.0 | of S&P 5 success. That's the deal. That's the take. That's the whole thing. It is the S&P 5. |
| 0:19.5 | This is a tech-driven rally. And we can have a conversation |
| 0:22.9 | about whether that's deserved and how much this is showing just how much of our lives are moving |
| 0:27.4 | online, right? Maybe this isn't a bad signal or rather a non-indicative signal. Maybe this is an |
| 0:32.9 | indication of just how important these companies are compared to everything else. Maybe this is |
| 0:37.1 | correct. |
| 0:37.9 | However, we still can't ignore the fact that the other 495 companies on the S&P 500 are simply |
| 0:45.5 | not performing. This is not a story of stock market success. It's a story of technology consolidation. |
| 0:53.5 | Welcome back to The Breakdown with me, NLW. It's a daily |
| 0:58.5 | podcast on macro, Bitcoin, and the big picture power shifts remaking our world. The breakdown is |
| 1:04.6 | sponsored by crypto.com, BitStamp, and nexo.io, and produced and distributed by CoinDes. |
| 1:13.1 | What's going on, guys? It is Wednesday, August 19th, and today we are discussing just how real |
| 1:21.6 | is this stock market recovery. Now, this is one of those episodes where the whole episode feels like the brief |
| 1:29.5 | in some way. In fact, I'm actually debuting a experimental format today. I'm calling it roughly |
| 1:36.3 | 10 takes in 10 minutes. And if you've listened to this show, you know there's no way I'll keep |
| 1:41.1 | it to 10 minutes, but I'm going to try, or at least I'm going to try to be a little bit quicker. So what I'm going to do is I'm going to go through 10 different |
| 1:48.0 | takes or interpretations of the S&P 500, which closed at a record high yesterday. It had |
| 1:54.7 | wiped out the losses from the coronavirus shutdowns. And so obviously there is a lot of |
| 2:00.4 | narrative making and meaning claiming |
| 2:02.9 | around this event. And I thought it'd be fun to quick hit go through a bunch of different |
... |
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