VALUE: After Hours (S07 E22): What’s Wrong with the Markets?

During their recent episode, Taylor, Carlisle, and Dave Collum discussed What’s Wrong with the Markets?. Here’s an excerpt from the episode:

Tobias: We had a good podcast with him. We just threw it open at the start and said, “What’s wrong with the markets?” So, we might do the same thing with you. What is wrong with the markets?

David: [laughs] Besides the fact they’re all fucked up. [Jake laughs] They do not respond to anything. It’s like, they’re driving without shock absorbers. At some point, we’re going to break an axle, right? So, it’s like skyscrapers. They blow in the breeze to respond to the wind and things like that. They’re made too rigid. At some point, you just hear a snapping noise. And so, they don’t respond to anything. We started World War III a couple days ago and the markets went up. How does that work?

Tobias: It’s bullish.

Jake: Yeah.

David: And on top of it, they’re profoundly overvalued. So, any system displaced from equilibrium, when it’s way far from equilibrium, when it returns, it’s a violent return. So, that’s what a bomb is, that’s what an avalanche is, that’s where an earthquake is and that’s what a market problem is. And so, I think we’re going to see some violence, although I don’t think violent crashes fix anything. So, I think the dip buyers will show up and they’ll think, everything’s okay. It’ll be like Red in Pearl Harbor where he sticks his head up and he’s going to say, “Guys, it’s a dud” and then gets his redheaded ass blown to bits.

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VALUE: After Hours (S07 E22): What’s Wrong with the Markets?

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