The comparison at 11:30 between earnings yield and the yield on T-bills is wrong. Earnings yield is a real yield and the yield on T-bills is a nominal yield.
If precious metals are becoming more currency-like (implying the failure of some or many fiat currencies), silver should outperform gold as it gets closer to being used again for everyday transactions. Now, silver _has_ outperformed gold this year (2024) after a few years of underperformance. And of course the copper story is deeply tied into the "electric future". o/
Assess equity multiples with the context of fiscal stimulus, wage growth, and normalization (not recessionary) rate cuts. You will no longer be bearish.
David Rosenberg's REALISTIC perspectives are ALWAYS most interesting and appreciated. Thank you for having him as a guest speaker.
The comparison at 11:30 between earnings yield and the yield on T-bills is wrong. Earnings yield is a real yield and the yield on T-bills is a nominal yield.
Fantastic insights
Gold has always been a currency
Keep dancing until the music stops, just get closer to a chair 😂.
If precious metals are becoming more currency-like (implying the failure of some or many fiat currencies), silver should outperform gold as it gets closer to being used again for everyday transactions. Now, silver _has_ outperformed gold this year (2024) after a few years of underperformance. And of course the copper story is deeply tied into the "electric future". o/
This guy quotes the madness of crowds, and then tells us to lend more money to a hopelessly insolvent government...
Fair point
Assess equity multiples with the context of fiscal stimulus, wage growth, and normalization (not recessionary) rate cuts. You will no longer be bearish.
SPX to 6000 by EOY. It has been foretold