Mad Libs. This piece is not about how mad liberals are at the administration, although the latest polling data indicates that it could be. Instead, it’s a fill-in-the-blank exercise regarding the impact of tariffs and immigration policy on growth, the impact of Chinese critical mineral export restrictions, Oracle’s debt levels and borrowing capacity, central bank gold reserves and the gender balance of psychiatric medication.
View video here
--------
21:06
--------
21:06
The Blob: Capital, China, Chips, Chicago and Chilliwack
In this piece, we look at the AI and data center takeover, and the OpenAI-Oracle deal; the US government equity investment in Intel, the origins of TSMC and how many countries support national champions via industrial policy; efforts in China to reduce excess capacity and consequences for equity investors; crime and municipal solvency in Chicago and Illinois; how tight net new equity supply has been supporting US equity markets since 2011; and pictures from Chilliwack, Canada.
View video here
--------
27:07
--------
27:07
Fair Shakes
Assessing US earnings and economic trends during one of the broadest policy shifts since FDR; partisan redistricting, the Supreme Court, the Census and the balance in the US House of Representatives.
View video here
--------
33:25
--------
33:25
Sick as a Dog: the cheapness of US healthcare stocks, and the battle over publicly funded science research
For three decades until 2020, US healthcare stocks generated roughly the same returns as the tech sector, and with much less volatility. Things have changed a lot since then as the tech sector has barreled ahead while healthcare has stagnated. In this special issue, we take a closer look at the many factors dragging down the healthcare sector to among the lowest relative valuations of the last 30+ years, and some possible catalysts for a rebound. To conclude, the latest in the battle over publicly funded US scientific research.
View video here
--------
40:09
--------
40:09
Summer mailbag
Every summer, I answer questions from the Eye on the Market client mailbag.
View video here
España