Never before has that enduring promise of protection stability and opportunity mean more important than it is today allow me to explain why. First europe must come to new to protect lives and livelihoods this is all the more important in the middle of a pandemic that shows no sign of running out of steam or intensity we know how quickly numbers can spiral out of control so we must continue to handle this fantastic pandemic with extreme care responsibility and unity in the last 6 months. Our Health Systems and workers have produced miracles every country has worked to do its best for its citizens. And europe has done more to gether than ever before. When the Member States closed borders we created green lanes for goods when more than 600000 european citizens were stranded all over the world the e. U. Brought them back home when some countries introduced export bands for critical medical goods we stopped that and ensure that critical medical goods should go where it was needed we worked
Dow plunging 525 points. S p plummeting 2. 37 nasdaq nosediving 3. 02 . I got to tell you, i think this decline is healthy this market needed a beatdown if only a learning experience for people who thought it was too easy when the market is roaring, a lot of investors seem to forget the most fundamental rule, buy low, sell high they want to buy high and sell higher the problem with that strategy is when stocks go down, they go down hard. You tend to lose money faster than you make it rather than being panicked by the sell off you in a very proverse way should be cheering for it we needed this why . Because we needed to break the nasty pattern of 1999 to 2000 so many people refer to during the run the leaders never took a breather. They kept charging higher and higher until the market peaked when they collapsed. Millions of investors led to the slaughter house. I began to wonder we might be doomed to repeat the mistakes of the. Com era. The markets led by a hand full of Tech Companies b
Before she hits the ground shes going to want to step aside good monday morning welcome to squawk alley. Im Carl Quintanilla with jon fortt and Julia Boorstin markets looking good, yields up and oil up as investors are focused on two things, the prospects for more stimulus covid aid and the potential departure of the president from walter reed on the latter point well turn to eamon javers good morning. Good morning, carl. No information yet from the white house at 11 00 a. M. , but they did bring the White House Pool reporters over from the white house here to walter reed which indicates there might be some expectation that we could get a briefing for the press within the next hour or so were going to stand by for that meanwhile, no indication whether theyve made the decision yet to move or not move the president they say theyll make that decision with the medical team later on this afternoon. So we continue to wait here as we learn that the Vice President and mrs. Pence have tested ne
Screen is driven by not the feds comments, a little boring with the zoom box or retail sales that we got or housing numbers. But what is happening at the mornings Research Meetings all over the country today where the down gained 37 points and the s p dipped and the nasdaq lost 1. 25 . More on that later today seemed like it was dominated by the fed in the amazing snow flake ipo and as someone that helped bring the microsoft ipo to goldman sachs, i know a big deal when i see one. More on the demons the deal unleashed. We had a nice rally going today and thats about what is going on behind the scenes every morning they have a meeting where they pitch the sales force on individual stocks and entire industries as buys or holds or very rarely sells after the pandemic got rolling, almost every piece of research that came out cut numbers. For individual companies and suggested the situation would get worse. The conclusion ive never seen so many sell eric men dae eric men dae er recommendatio
But brad, welcome, its good to see you again. Great to see you. Thanks for having me. I wonder as a tech investor what you make of the nasdaq and that sector the last few days. Is it a simple correction or something more you probably saw last night i tweeted, pullback . What pullback . Precovid the multiple on the soft way growth index was about ten times sales it peaked about a week ago today were at 13 time sales were still 30 higher valuationses in software than we were before the paechbd. The same is true for growth internet precovid about 23 times next years ebitda. We peaked at about 35 times next years ebitda. Today were still at 32 times, so heart will hardly a correction in my books. Do you think some of these stocks got simply out of control in the way they went up parabolically . The characterization doesnt need to get worse. Its pretty good these are peak multiples for stocks in the middle of a Global Pandemic for most software companies, the pandemic has not accelerated th