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Best idea, tough decisions today. I had to coverage some great, great conversations out there. We'll get to John Stolfas with Oppenheimer Company in a moment with this call a seventy one hundred standard Pors five hundred in a real optimistic tone. What a joy to head Today'd have truly a legend.
Charles Clough Chuck Clow with his own shop up in Conquer, Massachusetts, definitive with Marrileach for years and sometimes very cautious on the market, but shockingly optimistic on the quality of profit and the quality of cash flow. We looked at growth and we looked at value with Chuck Clow. Does value do well only when there's a bear market? Do you need a bad market for value to do better than growth?
I would say no. I think there's a tendency to move towards things that people think are value. I would say, I would say the most important engine of a value company is that it generates free cash flow and construct to collapse the capitalization the most important thing. If it's a mature industry, we would be generating cash flow because you're not investing. If you're generating cash flow and can move the capitalization to a point that it's still efficient, that will make you money into value.
So you're worried about the accounting for all this capex investment in AI if we have some form of write down or depreciation of it in a normal sense. Do you believe the math now like Paul and I believe the math in February of two.
Thousand, Well, again, I think the point about my hyperscale is they generate huge amounts of cash flow. The dot com companies didn't with one exception, two exceptions. I was Apple and Microsoft and Chuck Cloud there of.
His own shot clone company up in Conquer, Massachusetts. John Stulphus was with us today much more into writing a weekly note about where are we in the market? John Stulfus reaffirming optimism.
We've got earnings growth up eleven point seven percent on back of eight point one percent revenue growth. You've got tech twenty four percent growth year over year financial Q three or year over year twenty three point nine, so that's another twenty four piece. You've got materials double digit growth, industrials double digit growth. This is looking pretty good. And
the single digits aren't bad. Uh, And you've only got two sectors with negative growth, that's energy negative two point two six percent on the screen and communication services eight point one nine percent, and that some of that may be the result of just incredible investment at a watershed period related to AI technology.
John Sulfas he has been out only optimistic on the market, even with some of the stresses over the last number of years, and he reaffirmed that today I'm podcasts, We're out of Apple word at Spotify on YouTube podcasts its single best idea