4.4 • 677 Ratings
🗓️ 12 December 2023
⏱️ 73 minutes
🧾️ Download transcript
Dan and Corey kick the show off by discussing the newest unemployment number and its implications for inflation, rate cuts by the Federal Reserve, the stock market, and the future of the economy. They speculate that this unemployment rate could result in the Fed putting off rate cuts for even longer.
Next, Whitney joins the conversation by discussing the "Magnificent Seven" tech stocks and explains why he thinks smaller-cap, more value-oriented stocks will be driving the markets next. He also compares Tesla CEO Elon Musk's "rampant narcissism," "bro culture" at the company, and antisemitic tweets with exemplars like Warren Buffett and Charlie Munger.
This leads to a discussion about how cultural differences affect businesses. Whitney brings up Anheuser-Busch's Bud Light ad campaign with a transgender influencer and Disney fighting Ron DeSantis' controversial bill in Florida. He shares why he thinks companies are "running pretty darn scared these days" after seeing both those iconic businesses suffer for taking political stances.
Then, Whitney talks about his Top 10 list. He details why Berkshire Hathaway continues to be such an attractive opportunity today and why it's the perfect foundation for any portfolio. And he also emphasizes that we are no longer in a TINA world, or "there is no alternative."
Finally, Whitney gives his opinion on what he thinks the Fed will do next in terms of interest rates and what the potential outcomes could be. You also won't want to miss his answer to Dan's final question, where he explains why it's crucial to limit the amount of "partisan and polarized" information you're consuming in traditional media, since it could be affecting your investing choices.
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0:00.0 | Hello and welcome to the Stansberry Investor Hour. |
0:03.0 | I'm Dan Ferris, I'm the editor of Extreme Value and the Ferris Report, both published by Stansberry Research. |
0:09.0 | And I'm Corey McLaughlin, editor of the Stansberry Daily Digest. |
0:13.0 | Today we interview Whitney Tilson, lead editor of Stansberry's investment advisory. |
0:17.0 | And today, Corey and I will talk about unemployment numbers and implications for inflation, |
0:23.0 | and we might even talk about reasons to be optimistic. And remember, if you want to ask us a question |
0:28.5 | or tell us what's on your mind, email us at Feedback at InvestorHour.com. That and more right now |
0:34.9 | on the Stansberry Investor Hour. |
0:56.6 | All right, well, the official news is unemployment came in at 3.7%, which is, you know, the big low that happened recently, which was a low going back to like 1968 or something, the big low was 3.5% earlier this year. And then more recently, we kind of |
1:07.0 | ticked up to 3.9%. |
1:10.9 | Now we're back to 3.7%. |
1:12.9 | And there were the total non-farm payroll employment |
1:16.8 | increased by 199,000 jobs in November. |
1:21.4 | It was like, last November was like 260 or, I think, 262,000. |
1:27.4 | So the chatter, the news, the story is that this could actually be an indication that we are headed for a so-called soft landing. |
1:41.2 | Haven't heard that one before. |
1:42.7 | Soft land. |
1:43.3 | Yeah, well, yes. |
1:46.8 | Right. Soft land. Yeah, well, it's. And's and by that I mean we have heard it plenty of times over that yeah I in the market uh for the soft landing |
1:53.1 | yeah right so I don't know so one one guy who I follow on Twitter who um is admittedly |
2:00.3 | like more on the bearer side, said, |
2:01.9 | well, this means inflation is coming back. |
... |
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