James Mackintosh

speaker

379 appearances 7 recordings 1 series first heard Nov 2017 last heard Nov 2024

James Mackintosh’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Why Rising Bond Yields May Not Be a Threat to Stocks · 10 Oct 2018 podcast

These are things that I'd say you could certainly take them as a flashing orange light.

Yes, exactly.

He's used a couple of speeches recently just to talk at his press conference after the last meeting of the Fed policymakers yesterday.

to talk a lot about how uncertain everything is, and even to pour cold water on some of the sort of quite technical but important measures that the Fed had previously been pointing to.

He's been emphasizing how uncertain those things are, things like the long run, where interest rates ought to settle in the long run.

And of course, adding uncertainty into the market is bad for prices.

Now, from the Fed's point of view, that might be a good thing, because if what you're worried about is some sort of over-exuberance in the market, one way to stop that is to increase the uncertainty rate.

pour a bit of cold water on things and keep the market down a bit.

And, you know, maybe that helps the Fed because they don't have to worry about the stock market overheating.

Thank you.

WSJ Your Money Briefing · Growth Stocks vs. Value Stocks: Where's the Smart Money? · 29 Nov 2017 podcast

Well, it does certainly look that way.

So, at the moment, the growth stocks in the U.S.

are about 19 percentage points ahead of value stocks.

So,

The key question for me is, is this just froth?

Is this investors getting way overexcited about all these records that the US is hitting and saying, well, what should I buy?

Well, I should obviously go out and buy these big growth companies, the Amazons, the new dot-coms, shall we say, and people rushing out and buying those.

And if that's all it is, then that's just froth.

Or is it actually that it's different this time and that maybe, just maybe...

The value stocks are the kind of old line companies that are being disrupted and they're dying and investors are correctly recognizing that, you know, who wants to own a shopping mall nowadays?

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