James McDonald

speaker

95 appearances 1 recordings 1 series first heard Sep 2020 last heard Sep 2020

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

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WSJ Your Money Briefing · Market Preview: What to Expect in the Fourth Quarter · 29 Sep 2020 podcast

Was it a great long term buy?

Absolutely.

But if you bought Microsoft just before that crash, you would have seen a big drop in the value of those shares.

We're in that same position today where we see a new generation of incredible, incredible businesses that over the long term will dominate.

But at this very moment, when we're at the potential beginning of a major market sell-off, we have to be very incremental and cautious as we enter these positions.

cloud computing.

We like artificial intelligence.

We like e-commerce still.

And these spaces are going to continue to expand and they've actually been accelerated because of the pandemic.

Chairman Powell said there will be 36 months at least of no interest rate changes.

And so that's one side of it, the monetary policy.

The other side of it, the liquidity injections.

I think the virus concept, if we get a vaccine, the Fed will be able to see light at the end of the tunnel.

The Fed will be able to say, OK, this is going to go away.

And so we're going to start pulling back on I'll just call it intervention in any form.

And so we think that there will be a spike in volatility if.

there is a vaccine.

We think there will be a spike in volatility if there's not a vaccine, because if there's not a vaccine, then we continue to see these shutdowns.

And the Fed isn't going to go and provide every waitress and every used car dealer and every mall employee with a paycheck forever.

This is going to have to stop.

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