All right. I dont consider myself a journalist. And, nobody else would consider myself a journalist. I began to take on the life of being an interviewer, even though i have a day job of running a private equity firm. How do you define leadership . What is it that makes somebody tick . We are here today with chuck schwab, one of the bestknown figures in the American Business world, certainly has been so over the last several decades because of his ubiquitous face and his ads, but also because of the Great Company he has built, which is one of the leading Financial Service companies in the united states. He has now just written a book, called invested by Charles Schwab and i want to talk about that and his life, which is incredible. Let me start by asking about something you made news with just recently. Your Company Announced you are not just going to do discount brokerage, you are going to give away brokerage for free. In other words, if i want to buy some stock, i call up, i have an a
Why these special Purpose Acquisition Companies are so hot and what the phenomenon says about froth in the market. And golds record rally. Is the yellow metal poised finish even more gains . On the barrons roundtable, my colleagues. So, jack, this week was interesting. Four very powerful dudes get hauled up in front of congress, theyre asked some dumb questions, some tough questions, the market shrugs, the next day they come out with earning, and three of the four stocks soared. Yeah, actually rose during and after the testimony and end then again after results. The stock market this week, if you look at the s p 500, it was up close to 2 . Now, thats a wonderful result, but its particularly great when you consider the backdrop. What did we learn this week . Gross domestic product, the economy shrank 9. 5 from the quarter before. If you feel compelled to annualize that figure, yes jack no, please dont 33 , right . Either way, its the housiest number in 70 years of lousiest number in 70
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Yesterday carl was a discouraging day for a lot of people who have been chasing momentum because last week was maybe one of the best momentum weeks i can recall since 1999, which meant that if you bought it went higher and how much fun is that . Yesterday was the day that you bought it went higher and then you got crushed. So i think that usually takes a couple days of reset where maybe you can after stocks that arent as hot, say, as tesla. So you would focus, say, on Something Like the banks ive been through the banks and i know dave and i talk about this all the time, they are incredibly complex beasts, they are not like, oh, tesla, hot and when i first went over them i thought they looked pretty good but already theyre reversing. This is not an uncommon pattern as people find one line or two line that they dont like and then they sell these stocks. David, its happening once again. You know that these banks could have had littered with bad loans, its not, they have great trading, the
Me jimcramer. You have a pessimist you have the camp that believes the latest covid outbreak is no big deal because the mortality rate is lower and then the super pessimist that say spiking cases mean no sports, no going out and millions of job losses these four camps, i have to tell you, they are going to they are at war every single day. Including this one, the dow gained 557 points, s p advanced 1. 34 and nasdaq inched up 4. 9 one can win because there is so much money going into stocks the recovery plays dont go up as Fund Managers need to sell one group to swap into another and thats why the dow stocks did much better than the s p that did better than the one scorching nasdaq this is highly unusual but it makes sense if you think out market in terms of competing camps. So who is winning . Or who won today i like to use the sore thumb index as in which stocks stuck out like a sore thumb today . Let me give you todays examples first tell is mccormick. The big spice maker roared to a