Jeff Jones, CEO of H&R Block, discusses earnings for the tax prep company and their take on Middle America. Angela Stent, Senior Fellow at Brookings Institution, shares her thoughts on how the Israel-Hamas war could impact the war between Russia and Ukraine. Bloomberg Businessweek Editor Joel Weber and Businessweek Features Writer Ashlee Vance provide the details of Ashlee's Businessweek Magazine cover story Elon Musk’s Brain Implant Startup Is About to Start Cutting.
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Quick takeaways
Neuralink, led by Elon Musk, is preparing for its first clinical trial for brain implants in humans, offering promising potential for improving communication and movement for individuals with dire circumstances.
Leo Kelly, CEO of Verdon's Capital Advisors, predicts that the Federal Reserve will resume its tightening policy in the future due to persistent inflation and a significant amount of money still in the system, advising caution in investing and waiting for potential buying opportunities in the future.
Deep dives
Neuralink Prepares for First Clinical Trial of Brain Implants
Neuralink, the company led by Elon Musk, is gearing up for its first clinical trial to implant devices in humans. The company has received FDA approval and plans to start the trials soon. Neuralink's brain implants are more powerful and smaller than those of other competitors in the field. The company aims to provide a solution for individuals with dire circumstances such as paralysis, strokes, and ALS. While the technology is still in its early stages, there is great promise for improving communication and movement for those in need. The market for brain implants is growing, with hundreds of millions of dollars being invested in the field.
Fed's Dovish Language Deceptive, Interest Rates to Rise
Despite recent market optimism after the Federal Reserve's dovish language in their latest meeting, Leo Kelly, CEO of Verdon's Capital Advisors, believes the Fed is not done with raising interest rates. With persistent inflation and a significant amount of money still in the system, Kelly predicts that the Fed will resume its tightening policy in the future. He also expects volatility in the market as the Fed becomes more active again. Kelly suggests that valuations are still high, and there is more to grind through before the market can stabilize. He advises holding cash and waiting for potential buying opportunities in the future.
Assessing the Current Market Environment
Leo Kelly, CEO of Verdon's Capital Advisors, analyzes the current market environment and sees it as a bear market for interest rates. He believes that the market is still in a bear market from early 2022 and has not yet recovered. Kelly attributes this to factors such as a slowing consumer, shrinking confidence, and the ongoing contraction of the ISM Index. He emphasizes that there is still much to grind through before the market can stabilize and advises caution in investing. Kelly suggests that waiting for more attractive valuations and seizing opportunities in volatility could be a wise strategy.
Private Credit and Private Investing Opportunities
Leo Kelly, CEO of Verdon's Capital Advisors, identifies private credit as an interesting opportunity in the current market. He acknowledges that it is becoming increasingly popular, but notes the potential for attractive yields. Kelly also highlights the private markets as a space that offers good old-fashioned businesses at more reasonable valuations compared to public markets. He advises conducting thorough due diligence to find great companies for investment. Additionally, Kelly believes that the economy will recover and sees private investing as a potential avenue for growth and value.
Bloomberg Opinion Columnist Conor Sen explains why labor market trends demand the attention of the Federal Reserve and policymakers need to possibly consider a few surgical interest-rate cuts next year. Jeff Jones, CEO of H&R Block, discusses earnings for the tax prep company and their take on Middle America. Angela Stent, Senior Fellow at Brookings Institution, shares her thoughts on how the Israel-Hamas war could impact the war between Russia and Ukraine. Bloomberg Businessweek Editor Joel Weber and Businessweek Features Writer Ashlee Vance provide the details of Ashlee's Businessweek Magazine cover story Elon Musk’s Brain Implant Startup Is About to Start Cutting. And we Drive to the Close with Leo Kelly, CEO of Verdence Capital Advisors. Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan.