Also in this playlist...
This transcript is automatically generated
Of the cliff and with the -- president's legacy at stake our next guest.
Is making a bet on compromise Jeff sought joins us chief investment strategist -- Raymond James and -- in Saint Petersburg.
I don't think you agree with Steve -- you don't think we're going off this cliff and are you putting your money where your mouth this what does a bet on compromise look like.
EI EIA -- I don't agree with Steve I lived inside the beltway for a long period of time have a pretty good network on the on the hill in the Sam Rayburn building just one block south of the hill.
President Obama got beaten up pretty good in the debates it looks to me like he's gonna be more flexible.
I think when and push comes to shove congress is gonna be more flexible right and if you read president Obama's -- you come away with the sense that he not only wants to leave a legacy he wants to leave a vision is the greatest president of all time okay.
So what music do.
What that would look like and a and a and a financial markets cents.
Have -- -- making the case moment ago that will go over the cliff for a few weeks or months whatever it might be and some people -- that would I actually force a deal to get done.
But you make a bet.
That he did he does a deal before.
The end of the year because he's worried about his legacy so are you sure enough about it to say all right let me bet on something in the markets.
Well yeah I absolutely I think yeah I think you made the reverse.
I just got back from Europe everybody over there's bearish and under invested.
Than 90% of the portfolio managers in this country are underperforming.
I think if the market doesn't fall apart right here I think they're gonna be forced to chase into the Santa Claus rally.
In the Santa Claus rally there you go at that time here again I guess so the idea.
Of going over the cliff however -- obviously US signed some probability.
-- -- first of all tell us what that is -- -- likely that is but then also how would the market react to that because this assumption that.
Oh -- the financial markets are just fall out of -- if we not you know under Steve -- scenario would go over the cliff for a little while and then we get -- solved after which would that really happened.
Or would the market kind of look down -- -- they'll figure this out eventually even if we're technically over the quote unquote cliff.
I think if we do go over the cliff it would only be for a few days not a few months I think if you -- over for a few months it would put the US into another recession right.
I think you could see -- staged.
Kind of resolution to this of the 265.
Billion a year in bush.
-- so called tax cuts 55 billion for though wealthy.
210 billion from the middle class and I think President Obama wants to keep that tax cut in place for the middle class so I think you could BAC is staged agreement.
With more resolution coming in the first quarter of next year right kind of -- having something -- because they're not gonna have the time it doesn't look like to have the whole thing figured out but at least.
Set the and parameters I guess Jeff sought as always it's good to see you thanks -- lot for coming up.
Filter by section