The Magnificent 7 Is a Bubble

The Compound and Friends

Josh Brown

Investing, Business News, News, Business

4.7 • 2.2K Ratings

🗓️ 16 February 2024

⏱️ 81 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On episode 130 of The Compound and Friends, Michael Batnick and Downtown Josh Brown are joined by Richard Bernstein to discuss: the magnificent 7 compared to past bubbles, bitcoin as a sentiment indicator, the Fed's predicament, the case for international stocks, and much more! Thanks to Carta for sponsoring this episode. See how Carta can simplify your equity plan management today by going to carta.com/compound. Check out the latest in financial blogger fashion at The Compound shop: https://www.idontshop.com Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Josh Brown are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. The Compound Media, Incorporated, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here https://ritholtzwealth.com/advertising-disclaimers. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information. 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/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	America's most expensive home for sale hit the market this week.
0:04.0	How much do you think it is?
0:06.0	Most expensive home?
0:08.0	Yeah, knowing nothing about where it is, what it looks like.
0:10.0	How much do you think?
0:12.0	This is not a quiz show by the way. How about 275 million?
0:17.1	Oh my God it's pretty close. Is it?
0:18.8	295 million. This is a nine acre compound in Naples, Florida.
0:25.0	Imagine.
0:26.0	It was like, it was built by, it was built in the,
0:32.0	this is the part that this guy found it.
0:37.0	John Donahue his family is like a big investment banking family I guess.
0:43.0	Okay. And in the 1980s he was in a helicopter or on a flight and they were flying over Naples, Florida.
0:49.0	And he saw this peninsula jutting into the Gulf of Mexico that had nothing on it and it's called Gordon Point and he said to his wife I want to go and see what that is
0:59.3	1985 he bought it for a million dollars.
1:08.0	It's now, they've amassed 60 acres. They have 13 children, 84 grandchildren.
1:11.0	Like, is that whole thing?
1:13.0	Yeah, or what?
1:14.0	Yeah.
1:15.0	This whole thing is one property that they're selling for $295 million.
1:20.0	That's not my style.
1:22.0	It's not your, yeah. Oh, Rich, but this is the family, this is the family that owns federated investors. Oh, yeah, yeah. So, it's the Donahue family. And so it's kind of a cool story because he used it to keep like the family together and so like there are hundreds of members of this family that have fond memories growing up at this compound
	...

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