fell short of expectations at 65.6, reflecting growing concerns about the economic landscape. Research Affiliates founder and chairman Rob Arnott joins Catalysts to share his market outlook .
The asymmetries of risk are that the economy can do much worse than consensus far more easily than it can do much better than consensus. Um, with the US so thoroughly distracted, none of these things are in current pricing, domestic politics has been fraught to say the least and is not going to get any nicer or any Tidier between now and November.This, uh, this is not one of them.That's how you find an edge, of course, but you've got the top five names driving 80% of the gains in the market this year.
Uh NVIDIA is a fabulous company with enormous profits, enormous growth, enormous potential, but it's priced at over 40 times sales.That's still an enormous multiple of sales.Firstly, as, as for the shareholder vote, I enthusiastically endorsed the notion that a deal is a deal and that the Chancery Court had absolutely no right to void something that was voted on by shareholders.
Uh We're not saying that inflation is going to uh go crazy anytime soon, but we're not saying that risk is totally off the table because our policies uh out of Washington DC are reckless.
Source: Financial Digest (financialdigest.net)
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