September Morn and a Conversation with FactSet CEO Phil Snow

On The Tape

RiskReversal Media

News, Business, Investing, Business News

4.6 • 757 Ratings

🗓️ 2 September 2022

⏱️ 78 minutes

🔗️ Recording | iTunes | RSS

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Summary

Episode Description: Guy, Dan, and Danny discuss Danny attending Serena Williams’s US Open upset amid a sea of Wall Street “bro vests” (3:03), if September will be even uglier for the markets after a difficult August (6:24), warning signals from $HYG, $LQD, and the corporate bond market (13:36), the tumble in oil and gas prices (21:37), the impact of the surging U.S. dollar (27:20), the questionable health of U.S. consumers (35:25), and Danny’s ROTT on why Enron & Tesla could end up having similar fates (41:40). Later, Dan & Guy speak with FactSet CEO Phil Snow about the evolution of the financial data industry (54:14) FactSet’s growth strategy and biggest opportunities to expand its business (55:06), how it’s adapting to hybrid working (1:04:57), the war for talent (1:13:28), and how Phil is managing the challenging macro environment for businesses (1:15:34). —----- A look at oil’s massive long-term support trend line as discussed in the episode ---- 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 pag

Transcript

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0:00.0	As I've mentioned a number of times, I started my career in May of 1986 at Drexel Burnham-Lamberra,
0:08.9	60 Broad Street, Lower Manhattan. One of the first terms I learned was something called
0:15.4	Cash and Carry. That Danny Moses, as you know, is when you walk into a wholesaler, you give them cash, they give you goods, and you walk out cash and carry.
0:26.6	Why do I mention that?
0:28.3	Because I feel vindicated, vindicated.
0:32.3	Neil Cash Carry, the Fed governor from the wonderful state of Minnesota, the hubris of that man knows no
0:39.7	boundaries. And as inflation was running rampant, he would come on and on and on and talk about
0:45.4	transitory and how we got this under control. Let me read what he said after our on the tape
0:52.5	podcast. By the way, you are listening to On the Tape
0:54.8	podcast. Dan, Nathan, Danny Moses. By the way, Dan, we're going to be joined by
0:59.6	Phil Snow, the CEO of FACSET. Love that. Can't wait.
1:05.5	Fine sponsor of our market calls. Fine sponsor of our market calls, which, by the way,
1:10.3	Monday through Thursday, one o'clock
1:12.2	Eastern time. I'm sure the fans know that. But I digress for a second. Just let me mention this.
1:17.2	This was what came out of Neil Cash Carey's mouth last week. I'm quoting. I was actually happy to see
1:26.6	how Chair Powell's Jackson Hole speech was received.
1:31.3	People now understand the seriousness of our commitment to getting inflation back down to 2%.
1:38.7	Quote, quote, end quote.
1:40.8	Neil Cash Carey, Johnson, huge Johnson. How are you, Danny Moses? September
1:47.2	Mon. We made it. We're in September. It feels great. Doesn't it? Wake me up when September ends.
1:51.8	Doesn't it feel great? I love Green Day. That's my favorite album. American Idiot is one of the top five albums in the history of Rock. I agree with that.
2:00.1	All right. I got to start with this.
	...

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