Mellody Hobson
speaker
121 appearances
1 recordings
1 series
first heard Dec 2020
last heard Dec 2020
Mellody Hobson’s voice in public audio — every appearance, attributed to the second.
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Appearances
So we had this brutal first quarter that was really started.
It's really started to collapse at the beginning of March.
And then we started to see this unbelievably strong second quarter, which no one anticipated.
And the market has been building on that since then.
And then November, we had the market, the Dow Jones crossed the 30,000 mark, which no one expected.
One of the things that has been happening is the real leaders in this market have been the growth stocks.
These are the high-octane stocks that everyone wants to own.
They've been driven by the circumstance.
So not only do they have great companies, not only are these great companies great businesses, but these great businesses have been turbocharged during the pandemic.
More specifically, because we're locked in, we desperately need their services.
So think Amazon, think Apple, and the like.
And interestingly, these stocks, which are called the FAANG stocks, plus Microsoft, and the FAANG is representative of the initials of the companies, Facebook, Amazon, Apple, and the like, Google, which is now called Alphabet, plus Microsoft, these stocks have been dominating the market.
So in some ways, we have the best and we have the rest.
And they've been dominating because their services are essential to us, especially right now.
And they've also been dominating in terms of their share prices because interest rates are so low.
When interest rates are this low, when you look at their price earning multiple or how expensive these companies look, those prices appear reasonable because a value of a dollar today is more or less the same as the value of a dollar in the future.
just because the rates are so low.
So they've been helped by a low interest rate environment and a pandemic and the fact that they create, they have products or services that we desperately need.
No question about it.
Investors saw this again, this terrible drop, this dramatic descent.
Showing 21–40 of 121 · page 2 of 7
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