Eric Bailey

Clearly.

Yeah, yesterday was certainly eye opening with the action in the markets.

And it shows investors are nervous.

We've seen it

uh pretty much this whole month and then yesterday really really was clear that uh this sell-off has more legs and uh you know big parts of the market are in a correction nvidia now down 17 from its high you were talking earlier about oracle that's down 40 and you're seeing investors are getting more defensive you're seeing sectors like utilities uh pharmaceuticals outperforming the growth parts of the market and so

This could continue, right?

As we get through the end of the year, you do see rebalancing, tax selling.

And that could continue as we need a little more clarity, a little more confidence to come into the market to get the growth trade back heading up.

Yeah, no, you bring up great points.

I think it's a valuation issue.

And right now, investors are weighing what's the value of these names.

They're not clearly sold that the growth can continue.

Even though you look at the analyst community, you look at Nvidia, the average price target is 250.

That's a 30 plus percent move from these levels.

So you would think at these prices, it's pretty attractive.

Um, so a lot of this is, is again, you know, just market reaction going through kind of a correction phase.

And I think the buyers will come back in.

It's always, it's always unclear when and at what levels, but I do see the buying coming back into the markets.

Yeah, the fed adds a level of confidence to investors and investors clearly want to see the fed

is taking action that's positive for the economy and that right now is clearly with rate cuts and so a rate cut would in my view bring in confidence to the markets and should help equities especially growth equities growth equities typically do well as rates come down and so that would be a big boost next month some of these