Peter Bates, Portfolio Manager at T. Rowe Price, shares his insights on stock market trends and investment strategies. He discusses the innovative model of Spirit Halloween, which revitalizes vacant spaces, and its implications for real estate. Bates highlights current stock valuations, contrasting tech giants with undervalued stocks poised for growth. The conversation also delves into the auto industry's shift to electric vehicles and the challenges faced by legacy manufacturers. Listeners gain understanding of how to identify promising investment opportunities in this dynamic landscape.