Nancy Tengler, CEO and CIO of Laffer Tengler Investments, joins the program to discuss broader economic and market conditions. She explains why the Federal Reserve's interest rate decisions may no longer significantly impact markets and argues for the potential benefits of a market correction.Let's get you up to speed on the action from today's session.Not a lot of action here, not a lot of movement in today's session.
And I'm seeing at the end here, at least right now, we're running more than double for the S and P 500 the average over the past 100 days. I, I mean, I, I actually hope because this is the way the market works that we get a correction that will clear out kind of all the rubble. And so I, I think, um I think that we are there uh And we're not at the 1999 end of the decade, we're in the middle of the decade.
And I thought the really interesting parallel was Christine Lagarde at her press conference was, you know, she must have said out a dependent 20 times.And their primary criterion for cutting rates was if wages rolled over, but they actually went up and we're, we're kind of in that same environment here where at the last press conference, the chairman said, um, you know, 2.6 to 2.7 isn't a bad place to be in regards to inflation.
The thesis theme has been investing in old economy companies that have pivoted to digitization, cloud computing, generative A I cloud computing and the suppliers of the picks and shovels.And so somebody said to me, we haven't changed very much and we don't, I mean, these are long term secular tailwinds.
Um, and in our, in our ETF TGLR, we reduced our exposure to discretionary names because we think, and, and we reshuffled it a little bit.If you're a non managerial worker, it takes you 71.5 hours to pay your mortgage every month.Your savings rate has gone down to 3.6% versus 6.1 pre pandemic credit is becoming hard to, to find.You may see the manufacturing side of the economy pick up some of the slack a little bit.And I think it's because of the fiscal spending at the government level.
Biden said I have a plan and he pointed to his plan, but the fact is um Biden had the same plan in 2020 in 2021 and 22 when Democrats controlled Congress and those tax increases, he wanted to put in place, he couldn't get that done. Um And it's just easier, you know, II I mean, if you go back 10 or 15 years or even 20 there were people who many, many people, serious economists, finance experts and politicians who said if we were putting churning out the amount of debt that the Treasury is printing right now, markets would rebel and we would never be able to get away with it as a country.
So what we're seeing today are additional filings from both Tesla side, Musk's side and the shareholders that we're able to win that case and get the $56 billion pay package rescinded.But also this is a very procedurally complex case because this is really unusual the way this is happening because if you ask the shareholders attorney, they would say, well, this vote that happened last week has no legal impact at all because you can't have shareholders overruling A US court.
They go on to note that Vanguard 7% owner in Tesla shares said no, the last time around and now that the light is shining on this issue, they have had a change of heart.And uh the judge has a lot of decisions and decisions to make on her own of how she's going to address these issues going forward.All right.
So multiples are still pretty depressed in that space compared to mega caps where they don't look expensive, but they are definitely much more reasonable.So why do you think software has been lagging the semiconductor space over the last few months?So that's where you are going to see the first investment take place.
By the day you are hearing of cyber attacks and ransomware pretty much on a daily basis of large getting affected.I want to get your reaction to a note that we talked about earlier, which was a downgrade of palent here that talked about the, the analyst said it called it a gluttonous valuation, but also said that software is maybe not going to see the strength that you're talking about in part because the gen gen a revenue, huge increases for software have not really materialized.
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Source: YahooFinanceCA - 🏆 47. / 63 Read more »