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Date
Summary
Michael Landsberg Appears ‘Bloomberg Surveillance’ To Discuss Stock Market
Source
Bloomberg

Name: Bloomberg

URL: http://www.bloomberg.com/tv/

Show
Bloomberg Surveillance

Name: Bloomberg Surveillance

URL: https://www.bloomberg.com/btv/series/bloomberg-surveillance

Persons
Michael Landsberg

Name: Michael Landsberg

Event
Event location
Link
Original recording
Uploaded
12/26/2023 12:21 pm
Owner
Type
Video
Format
MP4 (1280x720) Use clipper to adjust file type
Duration
0:08:13
Views
509
Purchases
0
Transcript
RUSH TRANSCRIPT Back Is ░░░░░░░░ a proper mindset for ░░░░░░░░ Michael you cut out ░░░░░░░░ a second I think ░░░░░░░░ re talking about buying ░░░░░░░░ equity dip Katie yes ░░░░░░░░ when you step back ░░░░░░░░ you step back and ░░░░░░░░ about what happened in ░░░░░░░░ and 2023 you had ░░░░░░░░ big surprise to the ░░░░░░░░ in 2022 You have ░░░░░░░░ similar thing in reverse ░░░░░░░░ year You have to ░░░░░░░░ so much about the ░░░░░░░░ this year was instigated ░░░░░░░░ by dramatically accelerating fundamentals ░░░░░░░░ much as it was ░░░░░░░░ there is not a ░░░░░░░░ You tend to think ░░░░░░░░ positioning mismatch as things ░░░░░░░░ a couple of days ░░░░░░░░ a month This was ░░░░░░░░ whole year The lot ░░░░░░░░ the big allocators were ░░░░░░░░ catch up in the ░░░░░░░░ half of the year ░░░░░░░░ they were probably overweight ░░░░░░░░ bonds and underweight in ░░░░░░░░ As we get to ░░░░░░░░ I think that positioning ░░░░░░░░ is going to be ░░░░░░░░ behind us It will ░░░░░░░░ less of a factor ░░░░░░░░ will always be positioning ░░░░░░░░ but I think what ░░░░░░░░ going to happen will ░░░░░░░░ more of a healthier ░░░░░░░░ rhythmic equity market conditions ░░░░░░░░ Carol is it safe ░░░░░░░░ say that we are ░░░░░░░░ all of the pandemics ░░░░░░░░ feel like every market ░░░░░░░░ over the last couple ░░░░░░░░ years is we have ░░░░░░░░ think about where we ░░░░░░░░ pre pandemic factor in ░░░░░░░░ stimulus We are catching ░░░░░░░░ in that Are we ░░░░░░░░ that Are we back ░░░░░░░░ normal Michael it is ░░░░░░░░ I do not think ░░░░░░░░ can never get completely ░░░░░░░░ to one point in ░░░░░░░░ But I guess your ░░░░░░░░ is have the normalized ░░░░░░░░ much of the Covid ░░░░░░░░ issues whether it was ░░░░░░░░ chains or fiscal stimulus ░░░░░░░░ of that there has ░░░░░░░░ a process What is ░░░░░░░░ important in this discussion ░░░░░░░░ that during 2020 and ░░░░░░░░ and 2023 there was ░░░░░░░░ emergence of a longer ░░░░░░░░ structural trends that had ░░░░░░░░ to do with Covid ░░░░░░░░ energy transition globally deglobalization ░░░░░░░░ were talking commodities and ░░░░░░░░ prices earlier There is ░░░░░░░░ different condition of emerging ░░░░░░░░ also commodity producers being ░░░░░░░░ given to supply expansion ░░░░░░░░ were talking about oil ░░░░░░░░ iron or is up ░░░░░░░░ in three months Copper ░░░░░░░░ look ready to go ░░░░░░░░ even without China There ░░░░░░░░ a lot of structural ░░░░░░░░ lower moving conditions One ░░░░░░░░ the things that investors ░░░░░░░░ to keep in mind ░░░░░░░░ we have had some ░░░░░░░░ price action and economic ░░░░░░░░ I think what is ░░░░░░░░ is they are slower ░░░░░░░░ but significant structural themes ░░░░░░░░ are starting to play ░░░░░░░░ there that are very ░░░░░░░░ That is how I ░░░░░░░░ to contextualize that Yes ░░░░░░░░ will not normalize 2019 ░░░░░░░░ should we We are ░░░░░░░░ something else The big ░░░░░░░░ are behind us Michael ░░░░░░░░ big manus the big ░░░░░░░░ and not behind us ░░░░░░░░ think we will see ░░░░░░░░ to 8 earnings growth ░░░░░░░░ Morgan capital Our guest ░░░░░░░░ morning Green on the ░░░░░░░░ for the moment Carol ░░░░░░░░ the moment No surprise ░░░░░░░░ it is a slight ░░░░░░░░ other than oil still ░░░░░░░░ 9 really quiet No ░░░░░░░░ We all expected this ░░░░░░░░ said that you are ░░░░░░░░ at S P 500 ░░░░░░░░ 4808 the last print ░░░░░░░░ 07 Call it little ░░░░░░░░ That is our environment ░░░░░░░░ I like about days ░░░░░░░░ today is it gives ░░░░░░░░ a moment in the ░░░░░░░░ where things were fast ░░░░░░░░ furious and big stories ░░░░░░░░ it was crypto regional ░░░░░░░░ it could change Manus ░░░░░░░░ wrenching frightening moment for ░░░░░░░░ lot of people who ░░░░░░░░ never lived through the ░░░░░░░░ They are looking at ░░░░░░░░ credit suisse debacle That ░░░░░░░░ a crisis but first ░░░░░░░░ and other banks were ░░░░░░░░ important comments in terms ░░░░░░░░ the reality of risk ░░░░░░░░ are called lift tail ░░░░░░░░ risks Katie with the ░░░░░░░░ of hindsight we can ░░░░░░░░ back and say these ░░░░░░░░ not systemic banks we ░░░░░░░░ talking about but at ░░░░░░░░ time early March there ░░░░░░░░ a lot of questions ░░░░░░░░ how far this would ░░░░░░░░ Are we looking toward ░░░░░░░░ global financial crisis moment ░░░░░░░░ we were not But ░░░░░░░░ was widespread Carol just ░░░░░░░░ reminder that things can ░░░░░░░░ up nobody expects it ░░░░░░░░ it is significant There ░░░░░░░░ is private virtual real ░░░░░░░░ is there something we ░░░░░░░░ potentially missing iesco manus ░░░░░░░░ massive faults on commercial ░░░░░░░░ How does that play ░░░░░░░░ in 2024 Who is ░░░░░░░░ the biggest commercial equity ░░░░░░░░ exposure We are watching ░░░░░░░░ We ll is the ░░░░░░░░ market story today up ░░░░░░░░ 9 we are talking ░░░░░░░░
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