Yes it's a Bubble, DraftKings, Nikola, Bill Ackman, SPACs, Tesla's Index Run with Larry McDonald

The Compound and Friends

Josh Brown

Investing, Business News, News, Business

4.7 • 2.2K Ratings

🗓️ 24 July 2020

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

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Summary

On the newest episode of the Compound Show, join Downtown Josh Brown for a discussion about the bubble in belief. The rise of "Special Purpose Acquisition Corp 2.0" involves the backdoor IPOs of DraftKings, Nikola, Utz Potato Chips, the Golden Nugget Online, Virgin Galactic and many other well known companies. Pershing Square's Bill Ackman just launched the largest SPAC ever this week. What does it mean? What does it signify about the current market environment? Plus, a conversation with Larry McDonald (A Colossal Failure of Common Sense) about whether or not the S&P 500 index committee can keep ignoring Tesla, now that it's reported four straight quarters of GAAP profits and its market cap is larger than almost all the other holdings. Leave us a rating and review and we'll love you forever! It helps a lot! Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Yo, it's J.B. We're back. We're talking IPOs, Bubbles, Bill Ackman, Tesla, Draft Kings, and a whole lot more today. Play the music. Let's go.
0:15.0	Welcome to the compound show with downtown Josh Brown. Josh is the CEO of Rit Holt's wealth management.
0:18.0	All opinions expressed by Josh or any podcast guest are solely their own opinions and do not reflect
0:22.3	the opinion of Ritt Holt's
0:23.2	wealth management. This podcast is for informational purposes only and should not be
0:26.7	relied upon for investment decisions. Clients of Ritt Holt's wealth
0:29.6	management may maintain positions in the securities discussed in this
0:32.4	podcast.
0:35.0	Okay, welcome back to the compound show.
0:38.0	You know me, I'm downtown Josh Brown.
0:40.0	Today we have Larry McDonald on the podcast.
0:43.0	Larry was a bond trader at Lehman Brothers during the financial crash
0:47.0	and he wrote a best-selling book about it called
0:50.0	A Collossil Failure of Common Sense. a colossal failure of common sense and if he didn't take that title already
0:56.7	it would have been great for my autobiography ask anyone so that's a shame anyway Larry's research firm which is called
1:04.8	Bear Trap's report did some work on what the implications of including Tesla in the
1:11.4	S&P 500 will be and now we have Tesla's earnings which came out
1:15.8	later this week we'll get into that whole mess in a moment but first I want to
1:22.0	talk about where I think we are in terms of investor sentiment and I want to tell you what I think is the most apt descriptor.
1:30.0	It's one word, the most apt way to describe the mindset in the markets at this moment.
1:37.8	For the first time in history, we're experiencing an asset price bubble at the same time as we're experiencing an economic recession.
1:48.0	It's never happened. In many ways the stock market has never been as frothy and speculative as it is today and
	...

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