Barron's Streetwise How Low Will Mortgage Rates Go? Plus, e.l.f. Beauty
20 snips
Aug 15, 2025 Andrew Cizerowski, a Strategic Income Portfolio Manager at Morgan Stanley, shares insights on the future of mortgage rates and the allure of mortgage-backed securities. He discusses predicted declines in rates linked to Fed policies and their impact on home affordability. The conversation also delves into e.l.f. Beauty’s journey from budget cosmetics to innovative brand, highlighting its stock volatility and growth strategy. With a nod to consumer-driven product development, the discussions reveal how market dynamics shape both housing and beauty sectors.
AI Snips
Chapters
Transcript
Episode notes
From $1 Web Start To Gen Z Powerhouse
- Tarang Amin recounts Elf's origin as a $1 internet cosmetics business in 2004 and its growth into major retail channels.
- He emphasizes the brand's Gen Z connection and rapid product reaction driven by community feedback.
TikTok Forces Faster Product Timelines
- Tarang describes being pulled onto TikTok Live where customers demanded prestige-style products at value prices.
- He recounts accelerating product launch (bronzing drops) from 18 months to six months after direct community requests.
Significant Growth Runway For e.l.f.
- e.l.f. sees clear growth runway: category share gains, skincare expansion, and international markets where brand demand precedes distribution.
- International is only ~20% now, implying substantial upside versus global peers at 70%+.