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Pessimism's Return, Trump 2.0 Opportunities, With Phil Pecsok, Anacapa Advisors
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Phil Pecsok of Anacapa Advisors rejoins the podcast to discuss the return of pessimism to the market and the economic and market repercussions of Trump's various policies.
This podcast episode was recorded in two segments, the second on Feb. 24 with the express purpose of discussing with the then-nascent sell-off and Nvidia (NVDA) earnings. More information is available here.
This podcast deviates from the usual format by including the guest's first-hand account of the LA wildfires. This admittedly has only limited relation to investing, but was kept mostly intact for human interest reasons. Listeners can skip past these segments, identified below. Content Highlights- Walmart (WMT) earnings ushered in a fresh round of selling in stocks that has yet to reverse (1:05)
- The concerns raised by Walmart earnings are legitimate, but stocks should still rise this year (5:02);
- The guest, a resident of the Pacific Palisades, recounts his harrowing experience with the LA fires (11:25);
- Economic repercussions of the fires (14:32);
- Trump will ultimately be good for the economy and for markets. Fade any Trump-generated market panic (27:51);
- Why you shouldn't buy defense contractor stocks yet (37:18);
- The outlook for inflation is not great. This will likely keep the Fed from cutting rates (41:52).
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