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Bloomberg Wall Street Week - August 11th, 2023
Wall Street Week
The Economic Outlook for the Next 12 Months
The economy is moderating from extraordinary 12.3% nominal GDP in 21, 7 and change percent in 22. I'm not saying we can't slow a bit. There are a lot of companies that trade at 3, 4, 5 times cash flow. If you believe the economy is stable, autos, airlines, home builders, some of the energy infrastructure, trade at pretty low multiple. So, I like only equity markets.
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