Bloomberg Audio Studios, podcasts, radio news a single best idea and we could have done five single best ideas today. Just a brilliant day, particularly for discussion of the stock market. To use a phrase, it's antiquated. Amy wu Silverman was brilliant on derivative strategy. Joe Mazzola Charles Schwab maybe the
best interview we've ever done with them. He was just outstanding on the flows that are going on out there right now in this whole battle between the unknown unknowns, much of it coming out of our politics and the idea of retail versus institutional. Just a great, great day for equity study. We started strong with Edward Yardenny in October of I believe it was twenty twenty two. Ed Jardanny and separately Ral fancomepad get on board. It is a new bull market, and your Denny reaffirm that today.
I have been recommending overweighting the US since twenty ten, and it's worked out extremely well. But I could overstay my welcome here. Certainly during the first quarter it made more sense to overweight Europe than it made sense to overweight the United States. But I kind of view that as just a temporary situation. I think the US will continue to outperform, though it is it's that perform for so long that it's about seventy five percent of the
market cap of the global stock market. So I mean there is a limit to how much better it can get, I suppose, but it's been quite a run.
And your Denny of your Denny research, and then we looked at real estate, Brad Case, we don't have ound enough. He's with Middleburg Communities, which is in the Greater Virginia area, and they're doing multifamily and they're thinking about housing. He gets away with this because of his heritage of Fannie May economics and also working with the great Robert Schiller at Yale University. What a privilege that is. Brad Case was incendiary today over rent versus buy.
Let's listen, Well, that is usually the case, and the reason is that people don't realize when they buy a house they have to give up a huge chunk of money the down payment, and if instead they put that money into productive investments, especially in the stock market, then in the long run they would probably build more wealth. So there is this myth that the way to build wealth is to buy a house, and the reality is
that usually that's not the case. If you're able to buy a house when houses are cheap and the stock market is overvalued, then great, take your money out of the stock market and buy a house. That's not our situation right now. Right now, houses are very expensive and if houses crashed, then you'll probably see the stock market crash at the same time. So generally speaking, to build wealth, you're better off renting.
Now.
There are other reasons to buy, and some people want to buy just so they can say they're homeowners. That's not the same as building wealth.
What a response we got from those comments. Thank you for the heated emails and a huge response out on YouTube. We have a live chat on YouTube and sometimes it really gets going. Braad Case Today on our podcast on Apple, on Spotify across the nation, but mostly on YouTube podcasts. This is a single best idea