Scaramucci Returns To Wall Street, Josh's Rant On Trader Scams, Rob Arnott On The Tesla Bubble

The Compound and Friends

Josh Brown

Investing, Business News, News, Business

4.7 • 2.2K Ratings

🗓️ 11 December 2020

⏱️ 83 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week on The Compound Show, Josh talks with Anthony Scaramucci about his return to Wall Street, taking back the reins at his hedge fund business, North Shore vs South Shore Long Island, the difference between The Street and DC and a lot more. Then Rob Arnott joins the show for a wide-ranging conversation about the growth stock bubble we're now in the midst of, the turning point for value stocks, the truth about interest rates and valuation, why Tesla is one of the biggest bubbles he's ever seen and a lot more. You can watch the full video of Josh's conversation with Rob, including charts, at www.youtube.com/thecompoundRWM Plus! Josh's rant about stock touting services and how to tell the difference between a reputable research product and a scam.If you're enjoying the show, be sure to leave us a rating and a review, they mean a lot and go a long way! Thank you! Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: https://ritholtzwealth.com/podcast-youtube-disclosures/ Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Listen up. I'm not going to have this conversation again. I really I want to say what I want to say about this topic and then I just I want to I want to leave it alone and you guys you guys probably don't need to hear it
0:16.4	maybe some of you need to hear it but maybe there are people in your life that need to hear it
0:21.2	so I'm going to give it to you the way I want you to give it to
0:23.7	them. Here's the deal. Nobody, nobody on earth has the secret to the market and they're
0:32.4	willing to sell it for $20 a month.
0:36.0	$50 a month.
0:37.2	It sounds so stupid when I say it out loud like that.
0:40.7	Like of course Josh, who would believe that who would ever believe that you'd be
0:46.1	amazed you'd be amazed and the kind of people who would believe that I think fall
0:51.1	into two buckets the first bucket you really this like you
0:54.8	shouldn't shed any tears for it's people who like definitely should know better
0:59.1	but they want to believe anyway and a lot of that is motivated by greed.
1:04.4	So they're not dumb.
1:05.9	They convinced themselves that it's real,
1:08.0	because they want it to be real.
1:10.2	Look, we all do that in our lives.
1:12.3	So there are some people that just believe that about trading and stock market stuff.
1:16.7	Like, oh, but look how much money people, everyone else is making. There's got to be a secret. There's no secret.
1:24.8	There's no secret. Did you read the Jim Simon's book last summer when it came out or
1:28.8	last fall? The man who solved the market turns out he didn't. spoiler alert. He didn't solve the market, turns out he didn't.
1:33.0	spoiler alert.
1:34.0	He didn't solve the market.
	...

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