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On today’s show, we discuss:
- Ice T thanks the haters in Hollywood
- Apple tests ‘Apple GPT’, developers’ generative AI tools to catch OpenAI
- The problem with valuation
- Shiller: Past high stock returns an ‘anomaly’
- Goldman Sachs destroys one of the most persistent myths about investing in stocks
- The Stock Market has Wall Street on its heels
- Musk says Twitter cash flow still negative, lifts rate limit
- Netflix reports blockbuster earnings, as password sharing crackdown leads to 5.9M new subscribers
Listen here:
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Tweets:
New: Google confirms it’s “in the earliest stages” of providing AI-enabled tools for journalists.https://t.co/j80XxbwugM https://t.co/0w6KEg0mwp pic.twitter.com/8psPi2TuHx
— Ben Mullin (@BenMullin) July 20, 2023
Valuations by market cap range…
Interesting chart via @ftportfolios pic.twitter.com/FAasd3F2vl
— Nate Geraci (@NateGeraci) July 19, 2023
Goldman Sachs chief economist Jan Hatzius:
"We are cutting our probability that a US recession will start in the next 12 months" to 20% from 25%.
"The recent data have reinforced our confidence that bringing inflation down to an acceptable level will not require a recession." pic.twitter.com/DYInbxCf1H
— Nick Timiraos (@NickTimiraos) July 17, 2023
CREDIT SUISSE: “.. We are raising our 2023 S&P 500 price target to 4700, 3.9% above current levels with modest upside from multiple expansion. We are also raising our 2023-24 EPS estimates to $220 and $237 from $215 and $220.” [Golub] $SPX pic.twitter.com/UZvUiliWm8
— Carl Quintanilla (@carlquintanilla) July 18, 2023
Active managers continue adding equity exposure.
NAAIM Exposure Index up to 99 from 93 last week.
Highest since late 2021. pic.twitter.com/y2dEFv8W5Y
— Daily Chartbook (@dailychartbook) July 20, 2023
The irony that the guy who wrote one of the most highly recommended personal finance books *ever* is a doomer who routinely gives 20 IQ financial advice is almost too funny to be real life.
And yet, here we are. https://t.co/UH7ISMx3wL
— Jack Raines (@Jack_Raines) July 17, 2023
We’re still negative cash flow, due to ~50% drop in advertising revenue plus heavy debt load. Need to reach positive cash flow before we have the luxury of anything else.
— Elon Musk (@elonmusk) July 15, 2023
I guess I don’t have to do onlyfans after all pic.twitter.com/nE7zZ0e4Gx
— @jason (@Jason) July 14, 2023
Sam Ro:
Jack Raines
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