DISNEY SWAPS AGAIN, AMC
NETWORKS LAYING OFF, STREAMING
IS UNDER STRESS.
WHAT DOES IT MEAN FOR STOCKS?
WE BEGIN WITH THREE THINGS
INVESTORS SHOULD BE THINKING
ABOUT, STOCKS POSTED
BACK-TO-BACK GAINS IN THE PAST
TWO MONTHS.
IS THIS THE POWELL PIVOT?
THE HOUSING MARKET IS A
FIXER-UPPER BUT HOUSING STOCKS
HAVE CURB APPEAL.
TEXT TITAN RELATIONSHIP CHECK,
MUSK, ZUCKERBERG PICKS HIS OWN APPLE FIGHT AND WHO OR WHAT IS
APPLE FIGHT AND WHO OR WHAT IS
FAKE THE?
ON THE "BARRON’S ROUNDTABLE,"
BEN LEVISOHN, CARLETON ENGLISH
AND MY TWIN BROTHER ANDREW
BARY.
FRATERNAL TWINS.
I WANT TO START WITH YOU.
NOTHING LASTS FOREVER, EVEN
COLD NOVEMBER RAIN.
THIS PAST NOVEMBER NEITHER COLD NOR RAINY.
NOR RAINY.
WHAT DO YOU MAKE OF IT?
>> 5.4% GAIN BUT IT CAME AFTER
A FANTASTIC OCTOBER, THERE WAS
NO HALLOWEEN SCARE, 8% IN
OCTOBER, 14%, THE BEST SINCE
DECEMBER 2020, DRIVEN BY SIGNS
THAT INFLATION PEAKED.
MAY BE THE FED IS READY TO
PIVOT.
JACK: STOCKS SOARED AFTER
POWELL TALKED ABOUT MODERATING
THE PACE OF RATE INCREASES AND
BOND YIELDS COMING DOWN.
AND IS THIS A PIVOT OR A DOUBLE
PIVOT?
IN BASKETBALL YOU ARE IN A
DOUBLE PIVOT?
>> THE ULTIMATE GAME OF
CHICKEN.
THE FED IS LOOKING AT THINGS
AND WE NEED TO KEEP RAISING
RATES.
THE MARKET IS NOT BUYING IT,
THE MARKET IS SAYING THE FED
WILL BLINK AT THE FIRST SIGN OF
REAL ECONOMIC WEAKNESS.
WHO IS GOING TO BLINK FIRST?
SOMEONE IS GOING TO BE WRONG
AND IT IS PRETTY SCARY.
JACK: WHAT’S THE MOST IMPORTANT
INDICATOR?
ANDREW: I WILL LOOK AFTER THE
WEEK AHEAD.
THE FOMC MEETING?
IF IT IS WEAKER THAN EXPECTED,
A NICE RALLY AND IT IS UP TO
POWELL.
THE MARKET IS TRYING TO READ
HIM AND WHAT IS GOING TO HAPPEN
AND IS HE GOING TO DO IT?
JACK: TAKE A COUPLE DEEP
BREATHS.
WILL US HOUSE PRICES RISE OR
FALL IN THE YEAR AHEAD?
WHAT ARE YOU MORE CONFIDENT IN?
>> A 5% DECLINE IN HOUSING
PRICES BUT HOME-BUILDING STATS
RALLIED IN THE LAST COUPLE AND
MORE TO COME, I AM MORE
CONFIDENT ABOUT THE BUILDERS.
JACK: TELL ME THE NAMES YOU LIKE?
ANDREW: LENNAR IS WELL-RUN.
CLASS B SHARES, SUPER VOTING
STOCK, BETTER WAY OF PLAYING IT
RIGHT NOW.
JACK: THE SHARES ARE CHEAPER, WHAT ELSE DO YOU LIKE RIGHT
WHAT ELSE DO YOU LIKE RIGHT
NOW?
ANDREW: THE LEADING
HOMEBUILDERS, AND INTEREST RATE
INCREASES.
AND AROUND BOOK VALUE, 8 TIMES
EARNINGS.
IT IS AN ACQUISITION CANDIDATE
FOR BERKSHIRE HATHAWAY.
JACK: BLACKSTONE WILL NOT
OUTFLOWS, NONTRADED, THERE ARE
RISKS YOU HAVE BEEN TALKING
ABOUT FOR A WHILE.
ANDREW: ONE OF THE BIGGEST
TRENDS IS ALTERNATIVE FUNDS TO
RETAIL INVESTORS, BLACKSTONE,
THE BIGGEST FUND IS THIS FUND
CALLED BE READ.
THAT HAS LIMITED LIQUIDITY TO
INVESTORS, LOOK AT THE
REDEMPTION, TOO MANY PEOPLE
WANT OUT.
IT IS BAD NEWS FOR THE
BURGEONING INDUSTRY WHICH IS
HOT WITH A LOT OF BROKERS AND
INVESTORS.
JACK: HIGH DRAMA WITH CHECK
TITANS.
LET’S START WITH ELON MUSK TOOK
A SWIPE AT APPLE, TWITTER AND I
HEAR MUSK AND APPLE’S TIM COOK
OUR PALS.
CARLETON: AS IF ELON MUSK
DOESN’T HAVE ENOUGH GOING ON,
WHY NOT TAKE ON ONE OF THE
BIGGEST COMPANIES IN THE WORLD?
APPLE CHARGES 30% COMMISSION TO
APPS DEVELOPERS TO COLLECT A
MILLION MORE ON ITS APPS STORE,
NOT THE FIRST TIME SOMEONE HAS
RAISED ISSUES, SPOTIF GMAC DID,
COIN BASE DID.
ELON WHO IS HOLDING THIS MORE
AND CHARGING MORE FOR
VERIFICATION DOESN’T WANT TO
PAY 30% SO HE SAYS APPLE IS
LOOKING TO TAKE TWITTER OFF THE
PLATFORM, TIM COOK HAD A
MEETING WITH HIM AND REALIZED
IT IS A MISUNDERSTANDING.
EVERYTHING IS FINE NOW.
JACK: MARK ZUCKERBERG WEIGHED
IN ABOUT APPLE, IT IS THE ONLY
PLATFORM WHERE ONE COMPANY CAN
CONTROL WHAT APPS ARE ON THE
DEVICE, DON’T THINK IT IS
SUSTAINABLE OR GOOD.
REALLY GET A SITDOWN WITH TIM
COOK?
CARLETON: FACEBOOK IS BEING
HURT BY APPLE’S PRIVACY, NOT
JUST THE COMMISSION BUT
TRACKING HOW FACEBOOK MAKES ITS MONEY OR META, I SHOULD SAY.
MONEY OR META, I SHOULD SAY.
IT IS GETTING TOUGH.
JACK: FACEBOOK FACING
REGULATORY BACKLASH.
LET’S LOOK AT ONE ADVOCACY
GROUP, TOO LITTLE REGULATION,
LET’S LOOK AT WHAT IS HAPPENING
WITH THIS GUY’S HEAD IN THE
VIDEO.
>> ONE THING YOU CAN DEPEND ON
CONGRESS DOING IS NOTHING.
ONE MOMENT.
IF I MAKE MYSELF MORE
COMFORTABLE.
>> THAT IS BETTER.
LIKE I WAS SAYING, OVER THE
PAST 5 YEARS CONGRESS HELD 30
HEARINGS TO HOLD BIG TECH
ACCOUNTABLE.
JACK: THEY ARE CALLING THAT
FAKE ZUVCK.
WHAT I CALL THAT?
CARLETON: AI TECHNOLOGY, STUFF
YOU CAN DO ONLINE, CREATE A
VIDEO THAT IMPERSONATES