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Bloomberg Surveillance

The Bull Market Feels Best Near the End, Kass Says

Bloomberg Surveillance

Bloomberg

Investing, Business News, News, Business

3.81.2K Ratings

🗓️ 17 October 2017

⏱️ 30 minutes

🧾️ Download transcript

Summary

Doug Kass, president of Seabreeze Partners Management Inc., tells Tom Keene and David Gura how a short seller survives during a bull market. Bill Lee, chief economist at the Milken Institute, says a John Taylor Fed chairmanship would give us more predictable framework than current Federal Open Market Committee language does. Finally, Gideon Rose, editor of Foreign Affairs magazine, says that when it comes to foreign policy, it's better to watch than listen. 

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Transcript

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0:00.0

To me, context is about pattern recognition.

0:02.8

It's connecting the dots.

0:04.4

It's giving readers an ability to synthesize

0:07.6

a number of different perspectives

0:09.2

so they can understand how the greater whole works,

0:12.0

because nothing really occurs in isolation anymore.

0:14.4

I'm Tim O'Brien and I'm the senior executive editor at Bloomberg Opinion.

0:18.0

On our platform, we ask tough questions and solve complex problems with the facts in mind.

0:23.0

Start exploring our opinion coverage and more at Bloomberg.com slash subscribe. Welcome to the Bloomberg Surveillance Podcast. I'm Tom Keene with David Gura.

0:44.7

Daily, we bring you insight from the best of economics,

0:47.8

finance, investment, and international relations.

0:50.8

Find Bloomberg Surveillance on Apple Podcasts, SoundCloud Bloomberg.com's the chief economist at the Milken Institute. He's

1:05.6

in our Bloomberg 991 studios in Washington, D.C. Bill, great to speak with you once again.

1:09.7

Hey, Deborah. Let's start with this parlor game, given the news that we've gotten, that the president's

1:14.8

scheduled to meet with Janet Yellin a bit later this week, what have we learned about what

1:18.6

the president's interested in in in a future Fed chair from who we've seen pass through the doors of the White House

1:24.0

over these last few weeks. I think like unlike his own behavior I think Trump

1:27.8

really wants someone he can count on and is reliable and predictable and so with Janet

1:32.0

Yellen he's seen her performance but then she's also

1:34.2

flip-flopped a little bit in the sense that she was a dove before and and reluctant

1:38.0

to normalize and now she's insistent on normalizing even though the data are not coming in to support the 2% inflation.

1:46.1

Of course, the excuse is what I've always called faith-based forecasting, which is I have a lot of faith in the

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