Everybody Plays The Fool & A Conversation With Stuart Sopp

On The Tape

RiskReversal Media

News, Business, Investing, Business News

4.6 • 757 Ratings

🗓️ 3 February 2023

⏱️ 55 minutes

🔗️ Recording | iTunes | RSS

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Summary

Dan Nathan, Guy Adami and Danny Moses are making sense of the latest FOMC rate hike and the subsequent market rally (1:00). The gold market still has the attention of Guy and Danny, is that the real story of 2023 (15:00)? The guys try to figure out at what point they will admit they’re collectively wrong (20:00). Energy is seeing a pullback, but Guy thinks they keep going higher this year (23:45). After the break, we’re scratching our heads over the market’s reaction to Wednesday’s FOMC decision with Stuart Sopp, CEO of Current (29:34). What type of outlier event can bring this market back to a level-headed valuation (37:30)? New technologies like artificial intelligence will prove to be disinflationary, will that be enough to curb inflation for the next decade (44:45)? How is the current macro environment impacting Current (53:40). Bill Gurley On Buybacks: https://twitter.com/bgurley/status/1620831249224060928 Check out our show notes and transcript here ---- FactSet Webinar: https://riskreversal.com/factset2023/ ---- See what adding futures can do for you at cmegroup.com/onthetape. ---- Shoot us an email at [email protected] with any feedback, suggestions, or questions for us to answer on the pod and follow us @OnTheTapePod. We’re on social: Follow Dan Nathan @RiskReversal on Twitter Follow @GuyAdami on Twitter Follow Danny Moses @DMoses34 on Twitter Follow us on Instagram @RiskReversalMedia Subscribe to our YouTube page

Transcript

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0:00.0	Danny Moses, I want you to bear with me for a second.
0:03.7	Okay, I'm going to read a couple of movie titles.
0:06.5	I want you to think about this as I say it.
0:09.1	Coming to America, a few good men.
0:12.3	Outbreak, Jerry Maguire.
0:15.1	I want you to think about that.
0:17.1	And I want you to think about the actor.
0:18.9	As you think about it, by the way,
0:21.8	I'm going to tell you that his father, Cuba Gooding, Sr., was in a band called The Made Ingredient. And why I mentioned
0:28.8	that is because in 1972, Danny Moses, their hit song was Everybody Plays the Fool. Ain't
0:35.9	no exception to the rule.
0:38.1	And I got to tell you something, Danny Moses and Dan Nathan.
0:41.3	And oh, by the way, you're listening to the On the Tape podcast.
0:44.8	I am Guy Adami, Dan Nathan, Danny Moses.
0:46.8	In just a few minutes, Dan, we're going to have a conversation with Stuart Sop, the CEO and founder of Current.
0:53.0	But before that, I have to do the mea culpa, because I am
0:56.7	playing the fool right before your very eyes as the S&P goes north of 4200 in a straight line
1:04.9	on the back of what the market interpreted, Danny, as extraordinarily doveishish comments at a Fed chair Powell this week.
1:13.1	Maybe we'll see 4,200 again. We're now 50 points under 4200. This may be the last gasp.
1:18.5	I'm still trying to figure out what in the press release and or the narrative that was released
1:23.0	by the Fed made us go this direction. I will tell you the one shocking thing to me, and we previewed
1:28.9	this going into the Fed that we thought would let him be hawkish, allow him to be hawkish,
	...

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