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On the latest edition of the Bloomberg Survanns podcast, Lori Calvicina, RBC Capital Markets. Single best idea, We'll make it quick today. Stay warm out there. It's like cold. I remember nineteen seventy seven. I got a lot of feedback on this from people that were around then where I was in Upstate New York, and I had the clearest memory of thirty and forty days where it was below freezing, and even a ten or fifteen day period where it never
got above zero. I remember walking down the street and the sound of the snow was totally different than anything I'd ever ever heard before. I don't think we're going to do a duration of nineteen seventy but be careful out there. That's a lot of cold across this nation. This morning. We had a great set of guests today, and what single best idea is is two snippets of conversation, something to bolt into your other podcasts, like The Big Take with David Gura out on Bloomberg. But we started
with Lori Calvisina of RBC Capital Market. She follows mid caps and small caps. Her twisted view of mag seven.
What I've been seeing with the MAG seven. If I look back over the past years, you know, we'll kind of go into earnings, right, and the banks come in and they have good numbers, and then you'll get some of these other cyclical, kind of overlooked parts of the market working, and then you might have like one of these MAG seven names kind of stumble a little bit. And it feels like in the middle of that reporting season, you're seeing the leadership shift and the earnings dynamic shift.
And then I feel like all the worker bees around Wall Street go back after reporting season winds down, you know, they go to conferences, they've had all their callbacks, they go you know, on their bus stores and things, and suddenly I noticed the MAG seven numbers start coming off again. And so it feels like in the moment, you know, there's a reaction to fade it, but when people really start to give it some serious thought and reflect the
strength comes back. It's a really really odd dynamic, to be fair.
Laurie Calvacina, she was outstanding today an extended conversation. We're really trying to feature these this year. Early in the hour of seven, eight and nine. You know, we're getting in around the busy schedule of our guests, but an extended conversation to lead off the hours. One of our great efforts themes this year with our intern team. They've been doing a great job of getting these people in.
This is a bit of an odd one. Albertal Gallo was on with immense acclaim of looking at distressed ESK worldwide and particularly euro A piece with Andromeda and albertal Galo was great, but I had to do an audible, and when I do an audible, you know, sometimes it goes down in flames, not this time around. Sir Louis Hamilton visiting Ferrari this weekend hugely emotional and symbolic with an F one racing Ferrari has been a moonshot. Alberto Gallo fixed income guy, and Ferrari as a stack tom.
You've got to drive a Ferrari, but you don't want to. You don't want to buy Ferrari bonds. You want to buy Uston Martin bonds. You need to buy bonds of companies that are more on the edge, that need that will pay you more for financing. So in Italy, I would say credit spreads are really tight. The sovereign that bdps are is tight, but the opportunity is in companies
that are a little bit more higher yielding. And I would say for the first time in a long time, we have the southern European countries which are doing better. They have a week he Ro they have so they have more tourists, more influence of foreign capital, and also they have been fixing their They've been fixing their act a lot earlier than Germany and France their business models.
So Spain, Italy, Portugal, there's pretty good opportunities there, better than core Europe, and actually better in the UK where the garment is still struggling to attract investment.
Alberta Gallo of Andromeda Capital, I just can't say enough about that conversation this morning. I'll be honest, I've never heard him so optimistic about a workout of Europe. He was hugely constructive. On your commute across the nation, We're on Apple CarPlay, Android Auto Good Frigid Morning ninety nine one FM. Major shout out to Joe Matthew and Katie Lines for inaugural leadership with David Gura helping out. Yeoman's Duty by David Gura as well, and of course on YouTube.
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