David trainer longtime

longtime Seeking Alpha contributor CEO of New Constructs an investment research firm.

Great to have them on talking the markets,

how investors should be thinking about navigating the markets.

Look for David Trainer's articles on Seeking Alpha.

Podcast episodes are available with

full transcripts on Seeking Alpha. Also any article mentioned in this

podcast will be available on the show notes which is in the episode description on whatever

podcast platform you may be listening to. Hope you enjoy today's conversation.

David welcome to Seeking Alpha. I'd love if you could update listeners on how you're

looking at the markets, how you're thinking about the markets these days.

Yeah, I think that for me, you know, despite all the sort of popular

narratives about this or that drive the market, I feel like for the near term it's really all about liquidity and how much either the Fed or the

Treasury are pumping into the economy. I've seen plenty of charts showing a very tight alignment

between hey if they're still putting money in stocks are going to be the animal

spirits are alive and well.

And when that liquidity begins to be drained,

or, you know, when the Treasury typically tends to sort of back off

and the feds tightening actually starts to take hold you see stocks retract and I think

that's a consistent theme for really most of the last 20 years the long-term decline in interest rates is effectively just put more money into circulation

and certainly lower the threshold for what would be a profitable investment and therefore made it easier to make money.

You know, that's what a lower cost of capital effectively does that.

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