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Single best idea. We've been up for twenty four hours in the debate. We were beginning to blow up our Friday effort. The team did it. Just a fabulous job of making those tough decisions. Do you cover the inflation report at eight thirty end of June thirty? The view into the quarter I got from Bruce Casman today and Emmy Shoe at JP Morgan, a fifty nine page outlook into twenty twenty four. I promise you I will not read it this weekend. We've got continued economic data coming
out Michigan, a little light. Inflation came in a little light. I guess markets lift up, but all of it was pushed aside by what the nation witnessed last night between the former president and the president President. And thank you to all of Bloomberg Politics, particularly David Gerha in Atlanta, who got out front of this story with his conversation with the governor from California and others. I could go on for the six minutes of single best idea of
all the people that piece this together. I was sitting on the couch with Vetol last night as the show was blown up. And the first name I mentioned was Terry Haynes of Pangaea and not a shock. He wrote a brilliant first note, I'll say at eleven pm last night, and the second name I mentioned was Henrietta Trace. She's at Veda Partners. She is encyclopedic, and what's different about her than talking heads is she's been intimately involved in
the machinery about politics gets done. Henrietta Trey's on the twenty fifth Amendment.
The good news for Democrats here is a sixty six percent of the population already wants somebody other than Biden and somebody other than Trump to be on the ticket. So if it's going to happen, this is enough kind of the best way. It's been speculating about all year. You can see it from the predictive markets. There has been at least twenty percent odds that Biden would not
be the nominee. I think that's much higher this morning, and that is going to give you a baseline to start with on these sort of otherwise wildly extreme circumstances that are pretty normalized this year. A lot of the American public is socialized to the fact that this might happen. Certainly the investment community is.
Henrietta Trees and had so much more to say, And just to give you some of the highlights, Rick Davis joined us for years with Senator McCain. Rick Davis was just absolutely brilliant and analogs in non analogs as comparing President Reagan and the First Lady with President Biden and the First Lady. And I'm just trying to sort out the highlights that we had. Greg Valier, I thought was
just brilliant and very cautious about a shift. Greg Valier is certainly not in the camp that you're going to see dramatics and fireworks, and that President Biden, it appears, will be in this for the long haul. But many other differing opinions out there. We did see inflation. Neil Dudda have made very very clear that he is looking for an EBB, if you will, from his great optimism that he's seen on economic growth and then on the markets, we had to go to Ben Ladler of E Toro.
Ben Laydler in December of twenty eighteen was a lonely voice saying equities have value and you will prosper with ownership, and then he said that in October of I believe it was twenty twenty two, and he said that in October of twenty three. You get to see a pattern here. Ben Ladler on what you need to do going into Q three twenty twenty four.
I think big take is absolutely fine, and this is very fundamentally droven. It's all about the earnings, which are massively out surprising. He I'll continue to surprise.
Well.
I think the story of the second half is this delayed rotation into everybody else. If we get the right cuts, if we get affirming of economies, it's gonna be all those other smaller sectors which are much cheaper, that are much more sensitive to that than big text. The big text fine, but as we get the cuts right cuts coming in, I think everyone else is going to start performing.
And I remember a little bit of money goes a very long way in those assets because they're all just much much smaller and less love.
Ben Ladler of ET Major shout out the Scarlet Foo setting for Polsweeney Today we obligatory did the Scarlet Foo celebrity Loadstone section. We thank her for her comments and Ben Affleck and Jalo that was really timely and to get us into the weekend. We will be here on Monday. With the fallout of this debate, We'll be here on Monday to look forward to Q three and economics, finance, investment, and international relations from New York An Apple Podcasts, Single best Idea f
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