forces working against him and his allies. concerns are mounting that we could see more than mere spikes of violence as we near the midterm elections. a motley crop of trump acolytes are running on the ticket in states across the country. it includes, and this is by no means a comprehensive list, election deniers, covid vaccine skeptics, a celebrity doctor pedaling quack medical cures and a former football star under fire for allegedly paying for a girlfriend s abortion while advocating for a near total ban on abortion. this is one of the great tricks that i think the sexual revolution pulled on the american populous, this idea, okay, these marriages were fundamental, you know, they were maybe even violent but certainly they were unhappy. and so getting rid of them and making it easier for people to shift spouses like they change their underwear, that s going to make people happy in the long term. 250,000 illegals cross this boarder every month. this is an invasion. i p
Bus. Coming up next, on the presidency, author William Hazelgrove talks about his book madam president , the secret presidency of edith wilson. She married Woodrow Wilson after his first wife died in the white house and when he suffered a massive stroke in 1919, it was edith who guarded access to the recovering president. The president Woodrow Wilson house in washington, d. C. Hosted this hour long event. Okay. Well, welcome, everyone, to the Woodrow Wilson house. Im thrilled to see you all here tonight. Im carrie villar, the interim director at the wilson house. And just before we get started, point out the portrait on the wall. I think it is thats the lady were going to be talking about tonight. And it is fitting that were here. Her birthday was a couple of days ago, so to be here celebrating her birthday. Were indebted to edith wilson for her forethought and commitment to preserving her husbands legacy. Without her generosity, the wilson house wouldnt exist. Shes the woman who saved
Of, if if not the most Successful Hedge Fund managers ever. David tipper, the founder of appear loose appaloosa management. Its great to speak with you today. How are you doing . Doing well. Thank you. Congratulation on your fifth year anniversary. Market feels like its at an inflexion point. Weve been talking about that, you know, almost every day for the past week or so. Election on the horizon. Uncertain outcome there. Not exactly sure what the fed is going to do. Do you think its a better time to be a buyer of stock or a seller . So you are asking me just on the stock market . Well, well start there. Its still some of the same issues ive talked about in the past as far as margins and absolute levels of the market. You know, levels being fairly fully valued market. The dollar seems to be getting stronger again. Its an environment that, you know its probably okay not great returns, but okay, and then you have to deal with the election. You know, what the outcome in the election depen
The story of the day, the dow losing 258 points and really started with the bond market. Check out the yield. This is why it matters to stocks. 7 of the 10 s p sectors currently yield more than the tenyear bond. Investors buying stocks because they are the new bonds. How big of a problem is this . Bk. Well, listen, weve talked about this. I mean, its made me sick, we talked about it so much. This is what is going on. People are buying bonds. Were buying bonds for Capital Appreciation and stocks for yield. Its an upside down market. Its an upside down world. Now its starting to come home to roost. The volatilities increased. And the other thing you need to know, there is some underlying krentsz. Some strategies out there that buy both stocks and bonds. And when the volatility is low, they get bigger in their stock positions. When the volatility goes high, then they have to sell those stock positions and sell the bond positions. So thats why youre starting to see both of these come down.
That got clobbered when they reported earnings and roared higher. As people seemed to predict the bad news. Overlook it, or just said, hey, maybe it wasnt as bad as i thought. These stories are behind a lot of the recent rally. Including today with the rally 212 points. I ignored the fact that Kimberly Clark had fallen from 127 to 122 off the quarter, until the interview began. Right at the top of the intervie you just asked point blank, if the decline made any sense to him at all. Because it sure didnt make sense to me, given how well the company was doing. He promptly agreed. We went over not only was the quarter a miss, so to speak, but there were many line items much, much better than expected. It seemed obvious, that i did a little homework. They did the big pirouette and surged from 122 to 133. 50, hitting an alltime high. The sellers they were just plain wrong. Next up, lets talk clorox. Heres a similar situation. Sill love the quarter. Because it showed some incredible margin i