Bloomberg Audio Studios, Podcasts, Radio News, single best Idea and we say good morning to you on a Monday after an exhausting week, and I really want to shout out here on Apple Podcasts, subscribe to The Big Take David Gura providing leadership there on the politics of the moment. David was on CNN with Caitlin Friday night and one of the members of that really good conversation stop the show and mention the value of the Big Take, producing
twenty minutes of conversation on themes. I know David's working on an important view forward for America and Israel that you'll probably see in the next twenty four hours, but I can't say enough about The Big Take. The guest quality is awesome. And when you have a group of two the team members here at Bloomberg Surveillance working on no sleep, usually it does better. Yes, a lot of politics today, but it was a joy to visit with Edward Yard Denny for an extended conversation. Ed Yard Denny
is iconic back to CJ. Lawrence and all of his economics there who's out of Yale University and then iconic at CJ. Lawrence decades ago, and he has been, as you'll hear later, a permeable. He has been optimistic on the American economic experiment, and was absolutely brilliant during one about of gloom in October of two thousand, I believe twenty two he just really called that well. I really can't say enough about his short brief newsletter, the way
he writes in common sense. He extrapolates out optimism in the roaring twenties. Dare I say Dow fifty thousand or Dow sixty thousand.
I think we could get to sixty thousand by the end of the year that we'red forty. It's not a stretch to believe that over the remaining decade we could get to sixty thousand. And I've got the S and P five hundred going to eight thousand by the end
of the decades. So it's a bull market. Look just take a look at a long term chart of the S and P five hundred, and what you see is that bear markets occur every now and then, but they don't last very long, and that the fundamental trend of the market is upwards along with the economy.
Ed jar Denny there, and of course part of that is a concentration in these seven stocks and frankly other stocks tangential to them. It's a question of AI. I guess there's Apple intelligence, there's artificial intelligence, and your Denny on how he partitions AI.
Well, artificial intelligence is certainly artificial, but I'm not convinced all that intelligent. But I want to be very precise about that. I think there's two versions of AI that we need to consider. One is so called open AI, and the other one is something that I would.
Call closed AI.
Open AI basically is open to all the information available on the Internet, and as we know, there's a lot of junk on the Internet, and open AI is going to contribute to it. It's going to kind of start making up some stories and some sources, and you know, I mean, we can fact check the fact check it along the way, but it's still going to be making a lot of mistakes.
Bloomberg Technology, Caroline, they'll fact check you. Forward into Google earnings. I really want to emphasize I was wrong. I thought it was Friday. Paul Sweny tells me it's Tuesday, so that we're going to really begin to see the mag seven report. The first one was Google finally bonus round and Yard Denny, who has been optimistic on the American experiment, and I asked him about the value of studying those fearful as a trout out notes of caution and gloom.
And I guess I've been accused of being a perma bull, but I think that's a consequence of reading what the perma bears are saying and just trying to provide some balance. So if you provide some balance, you come out as a perma bull. And again, if you look at the long history of the stock market, makes more sense to be bullish on a more often than bearish. But the crew I think provides some very good, intelligent analysis of
what could possibly go wrong. And then I step in and say, okay, well where might they be wrong?
And your Denny there of your Denny research, and I can't say enough about his research notes very reasonably priced. Look for them out on oh the internet and in his website. Your Denny Research run Apple card Player and Android Auto as well, and on YouTube. I want to
take a moment here. Somebody stopped me in the street this weekend and said, how's it going, And I said, we're like basically humble at this new digital experiment and good morning to oh and Bloomberg eleven three to Oho as well worldwide on traditional radio, but on YouTube, it's just real simple. It's all about subscribing, and it's an easy thing to do. You go out, you search Chrome or whatever your browsers. Is anyone on bing Bob, I
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