It is single best idea and you get lucky. On a rainy Thursday in New York, scheduled was Richard Haass, the force of the Consulate Foreign Relations, recently retired but working a seven day work week, hugely in demand within the study of international relations, and it was really wonderful to do what we do on surveillance. What the heritage of the show is over two decades, which is talked to Richard Haass is an art centrist representing administrations both
Republican and Democratic. About the ultimate centrist, which is Joe Liberman of Connecticut. Whatever you think of Senator Joe Liberman and his sudden death here in the last number of days, he was someone who defined the old school centrism of another time and place. The centrist attitude is not seen in Israel. We talked to Richard Haass about mister Yahoo and his Israel.
He doesn't have a partner, this Israeli government or this Israeli Prime minister. All of his efforts at persuading them haven't amounted to much of anything. So he's got to go over their head. He's got to speak directly to the Israeli people about Israel's future. If it wants to remain a secure, prosperous Jewish democratic state, it's got to choose a different path in Gaza, it's got to choose a different path in the West Bank. And I even suggested he go to the Kanessea. Do it from the
floor of the Israeli Parliament. Take a page out of bb nets and Yahoo's book. Who came to Washington spoke from the Congress to speak against the Iran nuclear deal? But I don't quite care whether he does it from
the Knesse or not. I think, though, what we're actually seeing is the administration is moving away from a policy that's predicated on persuading bb Nets in Yahoo, and they're dealing much more with the policy that's either independent, we're going to provide aid, We're going to veto this resolution, or introduce our own, essentially pressuring the Israeli government. So I think it's a healthy change.
Richard Haas with the Council on Foreign Relations for decades there on the geopolitics of Israel in the President of the United States. Just a little vignette here of our world. At fifty ninth Street and Lexington Avenue, across from blooming Tal's We're truly in midtown Manhattan, two blocks three blocks over from Central Park. Eric Mallo and I were walking home today. Are there any presidents who are not in
the city today? You know, fragile James Earl Carter is not here, but everyone else seems to be and it looks to be a shutdown Manhattan here as we stagger through a Thursday before a longer weekend program. Note, I do want to point out that Michael McKee will be leading our coverage tomorrow on important economic data. Thrilled to Tom Percelly and Sarah House will join us on Bloomberg Surveillahs and special thank you to Nathan Haigh for coming
in on a good Friday to provide coverage. They're leading our equity review today the last day of the first quarter of trading was Julian Emmanuel. He's with Evercore Isi and that's always an important conversation wrapped around the economics of Edward Hyman, wrapped around the market review of that
economics by Julian Emmanuel. They are in the market, they are not in cash, but there's some humility about how far, how fast we've come, and of course with Ed Hymen looking for a disinflation tendency that appears to installed.
The first thing we have to do is step back and say, the market is exuberant, but it is nowhere near irrational. Twenty eight times what you saw in Y two K, which would imply sixty two hundred or so in the S and B is exuberant, but from our point of view, with the accumulated sort of perfection priced in and the possibility that the FED isn't going to be able to deliver, and that eleven percent earnings growth which has been basically the baseline for the last couple
of months, has downside as we think it does. The way the way you want to think about this is how do you stay in your core positions with perhaps a tilt towards defense and not get scared because the history of making subpar returns in investing comes from selling into down markets as opposed to just sort of thinking about how you position when things are good as they are now.
A lot of wisdom from Julian Emmanuel there, and I really want to separate out the way we do things at Bloomberg Surveillance as we spend a lot of time talking to equity strategists and investors who understand the way to win is to be in the market, and that market timing of being in the market, coming out, going to cash, and then critically, the decision once you're in cash, how do I get back into the market again is a real, real chore. We do talk to people that
do that. They're interested in timing and all, but I really want to emphasize our view, and our view for years has been, Okay, I got to be in the market. How do I participate in a market if I'm scared, stiff or I'm optimistic in any of the different flavors there It has been. I just can't say enough about the humility required here into a March thirty first, this first quarter of twenty twenty four has really been nuanced.
Has been a surprise of economic growth three point four percent GDP for the final quarter of twenty twenty three. That's a wow statistic. All of that tempered by the conversation we have on economics, finance, investment, Thank you, Richard Haas. On international relations, we're on Apple car Play. Thrilled with that work out there with Google as well, but Apple CarPlay download the Bloomberg Business app and on YouTube holding us out. I can't wait to see where we are
in one year or two years. On a build out of YouTube search for Bloomberg podcasts, it's single best idea. Good morning,