Thank you very much. Speaking of Robin Hood, Stephanie Gild is with us right now, the chief investment officer. It's always good to have you on the program.What's your take on where we're going here in a new month. I mean, I think we're in a point in the market where we've seen a lot of gains and obviously you've had some news out that is starting to show that perhaps valuations have reached expectations. And I think we're at the point in the market where, you know, my target was 6,500 and I think we're goi ...

All right, why don't we start off with the move in the futures right now. Why do you think futures are moving lower. Uh we saw a big spike in the markets following J.Pal at Jackson Hole seeming to indicate the rate cuts were coming or at least very likely. Why the pullback today. >> Well, I think Friday you also had a lot of investors off sides.I mean, it was not really expected that Powell would say those things. He had a lot of pressure, but for him to say that, you had probably a lot of short covering. Y ...

But as well as these stocks have done or maybe because of it, the question many have, is evaluations gotten out of control. Well, we don't know. But let's ask somebody who does.Aswan is professor of finance at the NYU School of Business. They call him the dean of valuations for a reason. Oswath, great to have you on.Perfect day for it. Have valuations gotten a little bit stupid or are we okay. I think for the last 10 years, we've had this conversation over and over again.Markets reach a new high. >> We say ...

Market Outlook - The market is anticipating the upcoming earnings season, particularly from banks, amidst concerns about tariff threats [1] - The market is considered well-aware of potential tariff impacts, though a short-term breather is expected to assess the actual tariff rates [2][3][6] - A historic rally of 26% in the US stock market post "Liberation Day" lows suggests a need for digestion [7] Valuation and Sector Analysis - The market is generally expensive compared to its historical valuations [8] - The "Mag Seven" stocks contribute to higher market valuations due to their deservedly higher valuations [9] - Other sectors are expensive but not as much as technology, reflecting different growth rates [10] - It's difficult to identify clear bubbles in the market currently, although potential over-expenditure in AI CapEx by the "Mag Seven" could become one [11] Tariff Impact - Initial tariff headlines caused significant concern, but the market rallied as the extreme scenarios seemed less likely [4] - Renewed discussions by the president about higher tariff rates are expected to increase the overall US tariff rate [5]

Well, one of the investors profiled in the Big Short is not worried about the size of the budget deficit. Steve Eisman is host of the Real Eisman Playbook podcast. He's former senior portfolio manager at Newberger Burman.He joins us here on set. Um Steve, you said this before. It doesn't matter.People have been running against us for decades. 40 years. 40 years.When do you think will it. You know what I say about all this. Just stop.God's sake. You know, I'm gonna say this. Maybe it's a little too obnoxious ...