Target over ordered big, bulky home goods like patio furniture and kitchen appliances. The steep discounts there were responsible for most of target's lost profits. Target will have to spend one billion dollars more on freight than it expected. Rising gas prices have driven up the cost of trucking.
S&P 500 and Nasdaq had their 7th straight negative week and investors (including us) are feeling the pain. (0:30) Ron Gross and Jason Moser discuss: - How history shows staying invested through downturns pays off in the long run - Major retailers struggling with inventory - Signs of strength in the home improvement industry - Two stocks on their radar: Costco and Marqueta
(14:20) Best-selling author Michael Lewis shares insights from the latest season of his podcast, Against The Rules, and discusses: - Why he chose "expertise" as the theme for this season's episodes - How you can spot a real expert - What CEOs can learn from their employees who are six levels down - His thoughts on cryptocurrency and NFTs - The experience of going back to re-read his first book, Liar's Poker
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Stocks discussed: WMT, TGT, HD, LOW, COST, MQ
Host: Chris Hill Guests: Jason Moser, Ron Gross, Michael Lewis Engineers: Dan Boyd, Austin Morgan
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