Maria a big day ░░░░░░░░ that s amp p ░░░░░░░░ NASDAQ hitting record highs ░░░░░░░░ by tech stocks particularly ░░░░░░░░ I yesterday s close ░░░░░░░░ the dow industrials 96 ░░░░░░░░ the NASDAQ of 330 ░░░░░░░░ almost 2 on Wall ░░░░░░░░ yesterday Nvidia led the ░░░░░░░░ hitting 3 trillion in ░░░░░░░░ value it surpassed apple ░░░░░░░░ the second most valuable ░░░░░░░░ in the world hide ░░░░░░░░ now because Microsoft nvidia ░░░░░░░░ then apple the stocks ░░░░░░░░ trading mixed nvidia up ░░░░░░░░ right now joining the ░░░░░░░░ capital management chief investment ░░░░░░░░ Peter Anderson thank you ░░░░░░░░ being you what is ░░░░░░░░ action on all the ░░░░░░░░ particularly a I leading ░░░░░░░░ I think it has ░░░░░░░░ lot of legs and ░░░░░░░░ do not think there ░░░░░░░░ going to see any ░░░░░░░░ with the next year ░░░░░░░░ think the a I ░░░░░░░░ a lot of runway ░░░░░░░░ nvidia is the poster ░░░░░░░░ for that that s ░░░░░░░░ all this enthusiasm has ░░░░░░░░ Maria do you think ░░░░░░░░ broadens out or are ░░░░░░░░ looking at the a ░░░░░░░░ chipmakers I know there ░░░░░░░░ indirect companies that are ░░░░░░░░ in the corporate s ░░░░░░░░ money to work in ░░░░░░░░ I how does the ░░░░░░░░ outlook to you Not ░░░░░░░░ great I don t ░░░░░░░░ it ll broaden out ░░░░░░░░ classic picks and shovels ░░░░░░░░ the gold rush there ░░░░░░░░ be a lot of ░░░░░░░░ in the field and ░░░░░░░░ lot of companies are ░░░░░░░░ the boone and how ░░░░░░░░ a I will enhance ░░░░░░░░ business models and I ░░░░░░░░ t think that s ░░░░░░░░ across the board were ░░░░░░░░ the casualties and that ░░░░░░░░ one of the main ░░░░░░░░ I worry about with ░░░░░░░░ Raleigh if we see ░░░░░░░░ that are not benefiting ░░░░░░░░ a I as much ░░░░░░░░ they promised us Maria ░░░░░░░░ saw technology companies putting ░░░░░░░░ to work in a ░░░░░░░░ but the larger corporate ░░░░░░░░ has not invested to ░░░░░░░░ same extent there s ░░░░░░░░ hopes on interest rates ░░░░░░░░ is boosting the rally ░░░░░░░░ a look at the ░░░░░░░░ year treasury a new ░░░░░░░░ poll that shows the ░░░░░░░░ Reserve will cut interest ░░░░░░░░ twice this year starting ░░░░░░░░ September and the futures ░░░░░░░░ 71 chance for September ░░░░░░░░ cut in 82 for ░░░░░░░░ cut Mark Tepper jumping ░░░░░░░░ is more important expectation ░░░░░░░░ lower rate or the ░░░░░░░░ around a I I ░░░░░░░░ love to get Peter ░░░░░░░░ take 1 9 expected ░░░░░░░░ this year and if ░░░░░░░░ think about investors they ░░░░░░░░ very geek doubt about ░░░░░░░░ I the a I ░░░░░░░░ and nvidia hype but ░░░░░░░░ market has been rallying ░░░░░░░░ the potential for the ░░░░░░░░ cuts when you go ░░░░░░░░ through history as soon ░░░░░░░░ the Fed cuts rates ░░░░░░░░ the 12 month after ░░░░░░░░ first cut stocks are ░░░░░░░░ 22 on average I ░░░░░░░░ wondering and I would ░░░░░░░░ to get your take ░░░░░░░░ investors at risk getting ░░░░░░░░ flat footed First off ░░░░░░░░ m not in the ░░░░░░░░ of any rate cuts ░░░░░░░░ do not think that ░░░░░░░░ going to happen and ░░░░░░░░ think currently were at ░░░░░░░░ equilibrium and I think ░░░░░░░░ current rates are just ░░░░░░░░ and what proves that ░░░░░░░░ look at how the ░░░░░░░░ have done with the ░░░░░░░░ of what everybody has ░░░░░░░░ hire for longer which ░░░░░░░░ rephrase as normal for ░░░░░░░░ Number one I ll ░░░░░░░░ a free ride if ░░░░░░░░ investors are saying this ░░░░░░░░ be great we re ░░░░░░░░ to have 1 9 ░░░░░░░░ which shows the accuracy ░░░░░░░░ some people think they ░░░░░░░░ predict the stuff I ░░░░░░░░ take the ride that ░░░░░░░░ do not invest with ░░░░░░░░ assumption that the Fed ░░░░░░░░ going to do anything ░░░░░░░░ the rate cut Maria ░░░░░░░░ about the European central ░░░░░░░░ the epc to cut ░░░░░░░░ for the first time ░░░░░░░░ 2019 we will get ░░░░░░░░ number if we get ░░░░░░░░ cut and 8 15 ░░░░░░░░ M eastern two hours ░░░░░░░░ I wouldn t look ░░░░░░░░ the euro as many ░░░░░░░░ expect the European central ░░░░░░░░ undercut rates before the ░░░░░░░░ If you look at ░░░░░░░░ neighbor and they fertilize ░░░░░░░░ lawn and you said ░░░░░░░░ lawn doesn t look ░░░░░░░░ great maybe I should ░░░░░░░░ that also I think ░░░░░░░░ will have some of ░░░░░░░░ psychology happening we should ░░░░░░░░ independently it s great ░░░░░░░░ hear what they re ░░░░░░░░ and what Canada is ░░░░░░░░ but in terms of ░░░░░░░░ economy I don t ░░░░░░░░ we need to do ░░░░░░░░ and let s face ░░░░░░░░ fact it has not ░░░░░░░░ a year since the ░░░░░░░░ did the last rate ░░░░░░░░ If I m in ░░░░░░░░ Fed room I m ░░░░░░░░ they re saying this ░░░░░░░░ like we should consider ░░░░░░░░ cuts but let s ░░░░░░░░ it a little bit ░░░░░░░░ time and let s ░░░░░░░░ undo all the good ░░░░░░░░ we ve done so ░░░░░░░░ Maria do you care ░░░░░░░░ ABC cuts rates the ░░░░░░░░ rally of itself Let ░░░░░░░░ put it to you ░░░░░░░░ way do you think ░░░░░░░░ board of nvidia are ░░░░░░░░ to themselves what is ░░░░░░░░ to happen over there ░░░░░░░░ the interest rate movements ░░░░░░░░ we have to revise ░░░░░░░░ business strategy the answer ░░░░░░░░ no there are plenty ░░░░░░░░ companies that I invested ░░░░░░░░ of the direction of ░░░░░░░░ rates that is how ░░░░░░░░ that question Maria you ░░░░░░░░ t want to buy ░░░░░░░░ I do not I ░░░░░░░░ a U S investor ░░░░░░░░ the way and where ░░░░░░░░ ve invested in Europe ░░░░░░░░ find that s more ░░░░░░░░ to understand you need ░░░░░░░░ on the ground and ░░░░░░░░ s hard enough to ░░░░░░░░ out what is going ░░░░░░░░ in the united