Spencer Jakab

speaker

249 appearances 4 recordings 3 series first heard Jan 2026 last heard 30 Jun

Spencer Jakab’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

Recordings per month over the last 12 months — 4 in all, peaking in Jun 2026 with 2.

Appearances

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The Compound and Friends · Steroid Era With Spencer Jakab, the F***’s Going on With Strategy?, Margin Debt · 30 Jun 2026 podcast

then that's, you know, the flip side of that is stocks get that much more expensive.

So if you hold the P ratio constant and things aren't constant, things tend to go lower when profitability is declining.

But let's say that people don't get skittish about that, then the market should be 25% lower if you're justifying it based on those earnings.

So it is of some concern.

Things don't move in a line that way, but that's a useful way to think about it.

So think about where we are.

Yeah.

I mean, what's the famous last words?

It's different this time.

I mean, there's always, look, anytime that you, and maybe this technology is just so amazing that the productivity gains in the economy will justify it.

But we're talking about revenue growth, right?

Revenue growth is pretty good this year, but it's supposed to slow down in the future.

And obviously it's going to slow down because revenue growth is just nominal GDP growth, right?

It's the GDP number that you hear plus inflation.

And then a little bit on top of that as companies, you know,

gain share and become more profitable.

It doesn't grow at 11%.

It's going to grow at 11% if you have very rapid inflation, which you really don't want.

Every kind of boom, whether it was the late 20s or the tech boom, you always have someone saying, okay, but we're in a new era.

I think Irving Fisher, the famous quote is like- Permanently high plateau.

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