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Teddy is is this one that you pay attention to your Berkshire half the women get so much attention it's -- stock they hit an all time high earlier today I believe as well.
It's -- 21% so far this year is this an indicator of things going on in the economy or is he just really savvy investor.
We're about it I.
I think he's a savvy investor and and and clearly this fact is had been spectacular but I think it goes back to what Peter said.
You know I remember that I was on the trading floor of 197374.
When the Dow was trading -- -- 55560.
And here we are today.
Although many years later -- 151000 that you'd asked me in 19734.
Where I thought the -- is gonna be I'm sure -- -- -- 151000.
But what it points out Melissa.
Is that and this is what Warren Buffett figured out a long time ago is basically -- buy good stocks hang onto home.
And don't worry about the timing of the market that is that Peter suggested you know just.
Kinda get up some kind of programmable way to the work I mean it works -- be -- -- yeah.
I'm worried about.
This market is fueled higher by the -- in large part that's one of the reasons why the market like this report so much.
Because it's -- the economy on one hand is not falling off a -- on the get -- head of -- so much better that the Fed is gonna step away and they're gonna raise interest rates are -- gonna stop buying treasuries.
Because that is what is so much of what is fueling the market.
All when unemployment does get down to six and a half percent in inflation does raise its -- -- that everybody can run for the exit at the same time Peter -- -- -- you what do you think about that theory.
Well there isn't there is a danger that when the Fed raises interest rates they're going to be several bubbles that burst.
One of them is -- stock market the -- agricultural land.
And also you know housing values going up 25% a year in some cities we know that that's not plausible so there are some places where asset values have gotten too hot.
But all over the long term you know if you think you can time these things and outsmart Ben Bernanke now you know more power to be I think you just -- bet on America I'm playing.
Whatever you can every month and -- in -- organized program.
-- -- wasn't something I've done over the last eight years so Brad why we were then given everything we've -- when you calling your broker today.
And ask you but speaking if it goes against everything everyone has said in this segment so far.
Well first of all by the way I'm even more bullish because I think we -- when he -- down when he gets to six and a half percent.
We still got a huge -- remember ever used to be under our five or close to -- We also got so many people off the sidelines not working right now so we got a lot of room to grow.
I just was worried that's from a timing standpoint we've seen a rope up pretty big run up and there might be some correction to my broker convinced -- -- was nuts.
He said you're crazy step away from the Iran you don't -- down.
Teddy are there other people out there like Brad -- because it that is something I hear every day as it is when should I get out because I think there's a sensation out there that it's not real.
Because when you go out and you look around the economy.
It's just you know things are going out while that they're better -- better then.
Awful which is where we were -- so there's that feeling out there but the stock market is not for real.
Somebody has silenced him at the powers that be -- somewhere along the way take we retry again.
Now we've got a problem with his Mike proud Peter do you want you -- I'm an exact question I mean there is a sensation out there.
That there is that the stock market isn't for real -- it doesn't reflect necessarily what's going on in the economy.
They've got a very good job and our major companies which drive the market you know that the top 200 companies -- so.
Are keeping their cost down taking advantage of opportunities to improve productivity transitioning into markets where -- higher value and better opportunity to make profits.
I mean that's why you know we get companies like Ford have come back.
So I think that that the stock market a special place the other thing is that American companies make 50% of their profits overseas.
We were making it big in China in the stock market that's a big factor it is not something to be dismissed.
Yup and Brad Pitt as a former CEO -- -- how do you think that corporate America is feeling right now.
And I think corporate America is sort of a big corporations are celebrating.
They improvement in the economy and actually one of the things I think of the dark side of this it's harder for small businesses to compete right now so I think.
And I -- two sides are both beneficial to profits -- -- but why why why why what it harder for small well they're it's it's -- that banking industry the changes were made to protect the banking industry make it harder for banks Stallone does a company without a proven track record.
And we went and things like -- but some of the regulation health care thing on the horizon.
Makes it tougher for small companies and those are the companies that compete against big companies and threaten their profits so when the market goes up.
It's not necessarily just a great picture for the macro economy we see they have macro economy growing as slowly it is there's still problems that we got to tackle of the country.
Okay thanks all of you sorry Teddy got short changed everything isn't gremlins in this system I -- -- -- got have a great weekend.
Thank you -- you -- to get care here is arm.
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