Whether youre a senior, whether youre someone who lives in Public Housing, whether you just simply cant make it because of the salary that youre living on, well, i think weve done it. Weve done it. Its a start. Is this going to answer every question . Probably not, but this is going to be a big, big achievement for San Francisco for us to put 600 million for Affordable Housing for our residents. [applause] president yee ill tell you this right now. I wont outline what mayor breed what she had already outlined. It was a battle. We had to fight, we had to claw, we had to prove our point. This came from labor, it came from everybody. Even the middleincome folks to came in and say we need help also, we hear you. We will put something in there for the middleincome, as well as lowincome. I am so proud of the process that we that we took to get to where we are today. Today is going to be a historical vote where the board of supervisors will vote on this bond measure, this measure for housing
[applause] i was born and raised in hunters point, and i began making my living as a cosmetologist. I owned my own business. I opened a hair salon, which i had to close due to rising rent. Being a single mother with a daughter going to college, i needed to find a more stable career. At that point, i had found the city build program. Throughout city build, i learned the skills required to be a to have a successful construction career. I have benefited from Affordable Housing which is how i was able to provide and support my daughter during the city build process. After i graduated, i became a carpenter, working for Carpenters Union local 22. Before having the opportunity and the blessing of joining local 38, which is the plumbers and Pipefitters Union of San Francisco. Living here in San Francisco in the 94124 has given me the benefit and a stable career to be in and pay rent in San Francisco. Thats why we need more Affordable Housing. We need more Affordable Housing for all of the reas
We have several moves to get through from the committee today, and were going to start there and start with josh brown who bought a few new things. I want to tell you about all those. You bought ebay, which hit a 52week high on monday. Thats the highest since february of last year. Tell me why that one has been added to your portfolio. So this is a breakout in progress. It got above longterm resistance, which was 48. I think it will hold that level, but well have to see. This is the highest level ebay has traded at, really, since april of 2022. It had been in this range between 38 and 50 since the summer of 2022. So this is basically a stock that cant get arrested. Theyve had literally no support on wall street. Nobody wants to talk about it. Its ten times earnings. We know the reason why its ten times earnings. Facebook came into the marketplace business a few years ago, stole some of ebays thunder. Theres not a lot of growth here. But thats the point. Youre not paying for growth. At
Right now. Coming up, still sticky inflation has fed official sounding hawkish, feeling a continued crime climb in treasury yields and signs of weakening demand on thursdays 30 year sale. Maybe the feds job is not finished yet. We have a lots of pricing pressure from services. Fear free acceleration. Where is the real acceleration going to come from . It is not exactly what the fed wants. I think they are done on rate hikes. I dont think the fed has done enough. That will bring inflation down to 2 . The doors open for a hike in november. It could be the fed skips the next meeting and then hikes again. We do not see rate cuts in 2024. We have a lot of crosscurrents in the data. The fantasies the fed sees putting inflation down as a marathon not a relay race. Katie joining us. Eric, when you put together everything we learned on the economic front from ppi to cpi in the past 24 hours, what does this mean for the fence after the feds path forward . Eric i think the development was good. C
I am Katie Greifeld in new york welcome to Bloomberg Markets on this friday. You take a look at where the s p 500 stands in trading. Its a red day so far. You can see the s p 500 off about. 6 , slightly worse if you take a look at big tech. The nasdaq 100 off by about. 9 . All the while you can see the volatility rising a little bit if you take a look at the vix. Of course, still at pretty depressed levels, under 15 but getting closer and closer. Im thrilled to say we have a great guest on these markets. We are joined by rob arnott, Research Affiliates founder. Good to see you. Rob good to see you. Katie lets talk about nvidia because you warned in september you saw a big market delusion in nvidia. It was a great company, he wrote, but christ beyond profession perfection but christ beyond if it was perfection that it was priced for then, what now . Rob beyond perfection. Rather than singling out a single stock, its interesting to note that back in 2018, we developed a definition for th