4.6 • 757 Ratings
🗓️ 20 September 2024
⏱️ 66 minutes
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0:00.0 | Welcome to the On the Tate podcast. I am Dan Nathan, joined by Danny Moses. Danny, how are you? |
0:06.2 | I'm just enjoying this bull market, Dan. Well, it is a raging bull market. We're going to get to all that. |
0:11.0 | Guy Dami's not going to be with us today. He is emceeing the FDNY annual gala, which is pretty |
0:17.9 | cool for him to be doing that. Danny, you're a big supporter of the FDNY. |
0:22.4 | I am a huge supporter of the FDNY. All right. So here's the deal. If you guys miss Guy in this |
0:26.9 | segment, Guy and Danny had a great conversation, which is going to be the B block of this fine |
0:31.8 | podcast with Luke Groman. Luke is a return guest to the On the Tape podcast. He is the founder of macro strategy firm, |
0:39.3 | The Forest for the Trees. Danny, what were some of the things that you guys hit in that |
0:43.6 | conversation? We hit the fact that when he was last on in February that he went bullish on the |
0:48.3 | equity market, which was the right move. So I did the famous James Earl Jones voice. |
0:53.6 | Instead of saying, Luke, you've gone to the dark |
0:55.2 | side. I said, Luke, you are my daddy because I try to admit him not to do it. We talked about his love |
1:00.6 | of gold and Bitcoin, which has been correct. He talked about the deficit. We talked about the oil |
1:04.7 | gold relationship. A lot of stuff, really interesting. You're smarter if you listen to it for sure. Fair enough. I look forward to |
1:11.4 | listening to that. I'm sure as our listeners and viewers are. All right. So you mentioned the bull |
1:15.5 | market, Danny. It's all in one right here. The S&P 500 breaking out to a new all-time high. The |
1:20.7 | NASDAQ lagging a little bit. The equal-weight S&P, we highlighted this a couple occasions over the last couple weeks, the outperformance there, |
1:27.8 | which spoke to a broadening out, the equal weight, the RSP, made a new all-time high last week. |
1:33.6 | So in advance of this, you know, Danny, it's interesting that today on that gap, okay, so the Fed chair, |
1:39.4 | Powell cut interest rates, 50 basis points on Wednesday. We closed at the low on Wednesday. |
1:45.0 | We gap up here today. The S&P is only up 2% relative to the NASDAQ, up 3%. Talk to me a little bit about that, |
1:51.5 | like, what you think is going on here, beta chase and the like here. But again, this is a |
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