Month: July 2025

Vault

Ken Griffin says deglobalization will lead to higher inflation, potentially, for decades. “We didn’t plan for an era with higher nominal and higher real rates when we went on the spending spree that created a $33T deficit…. There is no IMF for America.”

November 10, 2023

“Inflation is not going down,” says Kevin O’Leary. It’s north of 3.5% right now, and the Fed may have to raise rates by another 25 to 50 basis points.

November 7, 2023

Former Labor Secretary Seth Harris says, “There is no massive disruptive event out there that is going to cause this economy to get into a jobs recession.” There is a sustainable and moderate growth in jobs and wages.

November 5, 2023

Brian Cornell, CEO of Target: “They’re buying less stuff.” Consumer discretionary goods spending is noticeably down at Target stores with 7 consecutive quarters of both dollars and units declining.

November 3, 2023

Steve Eisman thinks the most interesting dynamic this earnings season was Visa vs. TransUnion. The dichotomy was that consumer spending was strong but loan volume collapsed, i.e., big ticket items.

November 3, 2023

Roger Altman of Evercore doesn’t think the current environment is, “conducive to equity investing.” IRRs will be declining. He adheres to the opinion that the last 15 years was abnormal for interest rates, and we will be higher for longer.

October 30, 2023

Jason Mudrick says almost half the levered credit market is levered at more than 7 times EBITDA (excluding generous addbacks). “That just doesn’t work in a 12, 13, 14 cost of debt market.”

October 27, 2023

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