To lou and welcome to crossfire all Things Considered im Peter Lavelle at this point no one knows when the cold crisis will abate however it is undeniable that this Health Crisis has negatively impacted the economy what does it mean to return to normal is that even possible now and will the divide separating the rich from the poor can. Discuss the economy and more im joined by my guest peter early grave very. Can he is an economist at the American Institute for Economic Research in miami and we have made rezko he is seen as chief investment strategist and we also have Eric Townsend he is host of the macro voices podcast gentlemen crossed the rules in effect that means you can jump in anytime you want and i was appreciated ok lets go 1st to peter you know in looking at the very the. The broadest picture of whats going on in the economy right now i think we all have to be very honest with ourselves that the election cycle influenced people how they look at the economy how bad it is or ho
To see everybody the dow did get to 29942, that is an alltime intra day high. Fell back a bit off that, a better than 400point game for the dow, s p better than 1 , nasdaq a little shy of that and then the small caps all the way to the righthand side of your screen banks, travel and leisure stocks leading the way. Some of the stayathome stocks. Theres the possibility in the middle of december the Federal Reserve steps in and provides further stimulus to replace whats missing from fiscal policy makers i want investors to give consideration to who potentially would be the treasury secretary. And, lastly, what will incoming president elect bidens policy be towards the chinese i think the reintroduction of a favorable relationship is a positive one so there are many catalysts coming as it rates to the reopening of stocks, you could look at financials and energies, but the one sector that stands out to me as the opportunity is industrials it screams high in terms of return on equity, its go
Materials, industrials hitting new intradays. The small caps doing well. The russell 2,000 at the far right side of your screen. Jim, i want to know where you think we are now you have great vaccine news. Its consistently great. Were not that far from 30,000 on either day we have headwind tailwind. Each day you can make a tailwind case i can make a tailwind case that you have to buy the airlines right now. This norwegian cruise deal is done, you want to buy that group. I can make a case that you have to buy the stay at homes, the deep cyclicals, a case for the technology stocks. This is what weve looked for. Thats why i came in gunning for the armageddonists theres a fabulous piece out that covid did not rescue the armageddonists from underperformance and purgatory its time to call them out im asking all the panelists to call out the people who said it was the end of the world call them out. Well, weve gotten great vaccine news it sounds like to me youre saying you can still buy the cr
In the power of partnerships to lead change. I would like to thank the center for Global Security analysis and our wonderful partners in the museum of American Finance and the cfa society of new york who are sponsoring todays conversation. The centennial series was designed to shine light on emerging and important trends. One of the things we realized is reflecting on our history provides new insight into the current challenges that have disrupted and changed industries and Business Models. Todays session focuses on the challenges leaders at Jpmorgan Chase and Companies Face and survive as seen in the latest book jpmorgans fall and revival how the wave if consolidarion changed americas premier bank. I am very proud to say jpmorgan is the largest employer of business graduates and i know many of them are on the webinar today. The session will take place in a few parts. David cowan, president and ceo of the museum of American Finance will introduce Nicholas Sergeant and Consuelo Mack and
Event. My name is donna and i have the honor of serving as the dean of the school of business as you may realize 2020 marks 100 years of purpose driven education. Since our inception, we believe that the power of partnerships to explore and lead change. I very much would like to thank the center for Global Security analysis and wonderful partners in American Finance and the society of new york sponsoring todays conversation. The centennial series was designed to shine light on emerging and important trends. One of the things we realized as reflectinisreflecting on our hiy provides insight into the current challenges that disrupted and changed industries and Business Models. Todays session focuses on the challenges that the leaders at j. P. Morgan chase and company faced and survived. As seen in the latest book j. P. Morgans fall and revival, how the wave of consolidation changed americas premier bank. I am proud to say j. P. Morgan is the largest of the graduates and i know many on the