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100 episodes
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Eye On The Market Michael Cembalest
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- Business
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4.6 • 236 Ratings
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Join Michael Cembalest as he explores a wide variety of investment topics, including the economy, policy and markets.
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The Lion in Winter
From 1930 to 2010, there were six extended periods of small cap outperformance as it dominated large cap over that entire period. But since 2010, small cap sits alongside value stocks and non-US stocks in the unholy trinity of underperforming portfolio strategies. While poor profit fundamentals argue against a prolonged period of outperformance vs large cap, small cap stocks are at their cheapest levels in the 21st century with potential market and political catalysts in their favor. First, a few words on the CrowdStrike outage.
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The Supreme Court vs the Regulatory State
The Supreme Court vs the Regulatory State. Recent Supreme Court rulings may now usher in the largest pushback on the regulatory state since the Reagan Administration. A look at the end of Chevron deference, a revised statute of limitations for challenging government regulations, the Major Questions Doctrine, the right to a jury trial and a District Court injunction against Biden’s LNG export moratorium.
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A Piece of the Action
Investing in professional sports leagues and related businesses. As rules around private equity ownership of sports leagues expand, we review team valuations and profitability, emerging sports categories, streaming and broadcast revenues, the decline of regional sports networks, drivers and comparisons of league parity, relegation and financial pressures in the English Premier League, stadium subsidies, sport betting and other adjacent businesses, antitrust issues, the esports winter, the worst teams that money can buy and the best basketball players of all time.
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Animal Farm
With spring planting season having arrived in Zone 7, it’s a good time to review agriculture from an investor’s perspective. Topics include agricultural price inflation in the wake of Russia’s invasion of Ukraine; public and private equity investments in agriculture, farmland ownership and the drivers of farmland returns; seed bio-engineering designed to reduce consumption of fertilizer, fungicide and water; and some satellite data on the immense agricultural damage occurring in Gaza and Israel. The Appendix addresses the avian flu’s impact on agriculture and the food supply.
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Cicadian Rhythms
Cicadian Rhythms: the fading prospects of a US disinflationary boom; Japan’s structural reform/M&A emergence; and Eye on the Market mailbag responses to questions on Tesla/Musk, GLPs, housing, China, Truth Social and Meta’s latest open source model
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The Good, the Bad and the Ugly
The Good, the Bad and the Ugly: an investor lens on tech valuations, AI, energy and the US Presidential Election.
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Customer Reviews
Smart perspective
Excellent podcast on how current events affecting markets: smart, factual, and often offers a unique perspective.
I like it
Useful, pragmatic, and interesting. Looking forward to him including crypto assets into the conversation, once they’ve reached sufficient maturity.
Not that 70s show
He comments on Europes Tax Policy. But neglects to mention that this was Janet Yellens policy. This uniform tax policy on corporates was Bidenomics. The US is getting what it wanted.