Michael Batnick

How confident am I that which are going to underperform?

Do you feel super strongly one way or the other that the mega cap tech, all of these asset-heavy names –

are going to outperform or underperform?

Do you feel super strongly that over, because I really don't.

that the cap that the capital heavy companies now that are dominating the the data center biz will outperform or underperform the market no same can it how can anyone be yeah i hate to be so wishy-washy but like it's tough well how could you know right right right right right okay um let's move on to an area of the market that we spend very little time talking about because it's an absolute barren wasteland um this is not a bubble

Could you imagine a world where

Housing activity returns.

The fact that the economy has been as resilient as it is, the fact that the stock market and spending has been what it is, despite the fact that one of the actual largest parts of the economy is in a depression, that's a stretch, is remarkable.

So let's talk about the stocks of the housing stock apocalypse.

Whirlpool reported last week, I meant to grab some of the quotes.

But this is durable goods like dishwashers and shit like that.

Down 81% in the last five years.

This is drawdown.

It's an 81% drawdown.

Pool, which is actually pools, is literally down.

This is not a drawdown.

It's down 55% over the last five years.

Zillow just reported the stock was at 90 earlier last year or mid last year.

It's now at 39.

And they said, in terms of what we're looking for in the back half of the year and how we thought about it, we're planning for the housing market to continue to be effectively flat.