Last night, we got this confusing set of numbers from RH, the high-end homegoods retailer that used to be known as Restoration Hardware. This story's been a bit of a roller coaster for years. Four or five years ago, CEO Gary Freeman laid out some grandio sooie generous expansion plans.He wanted to turn RH into a fun, full lifestyle brand with restaurants, hotels, yachts, and even a utopian real estate development. In Aspen, the stock soared to the mid700s at its peak in August of 2021 as its feet became fas ...

-Well, the decision itself isn't a surprise, David. The why, though, is a good question. I don't see really an argument for cutting the funds rate, particularly given the Fed's own macroeconomic forecast that would have real GDP growth now higher next year, not lower. There are reasonable minds on both sides who are debating the employment tradeoff and the inflation tradeoff. More interestingly, going forward, what could the Fed do? I don't see rate cuts. If you look at the Fed funds rate now, it's roughly ...

Do you want to personally play in the decision by the Fed on interest rates. Well, you know, I've made a lot of money. I've been very successful, and I think my role should be at least that of a recommending.You know, I have to follow what I say, but we're going to be choosing a new Fed person in the pretty near future. But they went out you know, they went out with 71 different people, all economists and Trump. I was 71. And of the 71 people, I got it right. And one other person, I think, from the Wharton ...

[music] Hello and welcome to Market Domination Overtime. Taking a look at the market close, we have read across the board, at least in terms of the majors. Looks like the Dow down about half a percent or 250 points, NASDAQ down 1.7% and the S&P off 1%.Let's go to the Wi-Fi Interactive and I'll check out the week in stocks. This is today. Let's check out the 5day and the Dow.still looking at gains of 1% there. The Nasdaq though that is sinking into the reds down 1.6% and the S&P 500 also red but down about 2 ...

Hello everyone, QE is back. We are starting to print money in this country starting today. We then are going to talk about what's going on with Bitcoin and liquidations and the Trump gold card. Everybody wants one. It's the hottest product out on the street. We're live today from the desk of Anthony Pompiano. Before we get into today's episode, I need your help. We got like 41,000 of you that have all hit the subscribe button, but you you sitting at home, you didn't hit it yet. What are you doing? Hit the s ...

Monetary Policy & Interest Rates - The market anticipated the rate cut, and the Fed did not deviate from expectations, avoiding promises of a future glide path [1] - Dissenting opinions within the FOMC are viewed positively, potentially reinforcing the Fed's independence and highlighting the committee's diverse perspectives [2] - The market anticipates a new Fed chair in May 2026, raising questions about the future interest rate landscape and the potential for more than one rate cut [3] - The Fed's reaction function is expected to remain heavily reliant on labor market data, potentially leading to more rate cuts than currently priced in if the labor market deteriorates significantly [5][6] Earnings & Market Performance - The broadening market performance over the past six months is attributed to the trajectory of earnings among different cohorts [7] - Earnings growth deceleration in mega-cap tech companies is converging with accelerating earnings growth in the rest of the market, supporting market broadening [8][9] - Despite frothy valuations, value can be found beneath the surface due to significant churn and rotation within the market [10][11][12] - A GARP (Growth at a Reasonable Price) approach is recommended, focusing on both value and growth factors [12] Investment Strategies - Within the Russell 2000, fading the lower quality, unprofitable components and leaning into the profitable components with better fundamentals is advised [13] - A combination of value factors (price-to-book, price-to-sales, strong balance sheets, high interest coverage) and growth factors (positive earnings trends, forward revisions, exceeding earnings expectations) is recommended [14]

Core Insights - Charlie Munger expressed concerns about the unprecedented scale of money printing by major economies, including the U.S., Japan, and European nations, indicating that this could lead to significant economic risks [2][3] - Munger compared the economic situations of the U.S. and Japan, noting that while Japan has managed extensive money printing without severe inflation, he doubts the U.S. can achieve a similar outcome due to its different socio-economic structure [3][4][5] - He highlighted the challenges of governing a multiethnic country like the U.S. compared to Japan, which he described as more culturally unified, making it easier for them to face economic challenges [4][5] Inflation and Interest Rates - Munger acknowledged the complexity of predicting interest rate movements, referencing the significant rise in rates from 1950 to 1980 as a historical precedent [2] - He recalled the extreme measures taken by former Federal Reserve Chair Paul Volcker in the 1970s, where interest rates were raised to 15%, leading to a prolonged recession and significant economic pain [6]

Well, that's what we're getting. The explanations. It's become a tradition lately for Fed officials to explain as soon as the blackout lifts why they dissented and the blackout has lifted.So we got a few minutes ago Austan Goolsbee, comments from the Chicago Fed saying basically people are telling him inflation worries them more than jobs. Goolsbee said almost all business people and consumers that we have spoken to in the district lately identify prices as the main concern. I remain optimistic that interes ...

Core Viewpoint - The Federal Reserve officials express a preference for maintaining a restrictive monetary policy stance to combat persistent inflation, with some dissenting against recent interest rate cuts due to ongoing economic momentum and inflation concerns [1][2][4][10]. Group 1: Federal Reserve Officials' Stance - Cleveland Fed President Beth Hammack advocates for a slightly more restrictive stance to exert pressure on inflation [1]. - Kansas City Fed President Jeff Schmid dissents against the FOMC's decision to cut interest rates, preferring a modestly restrictive policy due to high inflation and economic momentum [1][4]. - Chicago Fed President Austan Goolsbee also voted against the rate cut, emphasizing the need for more information before making such decisions given the prolonged inflation above target [2][4]. Group 2: Market Reactions and Economic Indicators - The dollar index rose by 0.02% on Friday, supported by hawkish comments from Fed officials and increased T-note yields [4]. - The markets are currently pricing a 24% chance of a 25 basis point cut in the fed funds target range at the upcoming FOMC meeting [5]. - The euro gained 0.06% against the dollar, influenced by divergent central bank policies, with expectations that the Fed will continue cutting rates while the ECB has concluded its rate-cutting campaign [6]. Group 3: Precious Metals Market - Gold prices reached a 7-week high, while silver experienced mixed results, influenced by a stronger dollar and higher T-note yields [9][10]. - Central bank demand for gold remains strong, with China's PBOC increasing its reserves by 30,000 ounces to 74.1 million troy ounces in November, marking the thirteenth consecutive month of increases [12]. - Concerns over tight Chinese silver inventories have emerged, with stocks in Shanghai Futures Exchange warehouses falling to the lowest level in 10 years [13].

Federal Reserve officials — including two who will become voters in 2026 — offered strongly opposing views Friday on what to do with interest rates, continuing a debate that will grip the US central bank into the new year https://t.co/QJRdbwKHs3 ...