Like the Electric Light Orchestra, Will and Adam have no answer for what is happening right now, but a lot of questions. They cover similarities and differences between now and the late 1990s, discuss valuation for various parts of the market, where they see relatively unattractive risk versus reward, and delve into specifics on a few names in the news.

(November, 24, 2020) Will Brown and Adam Eagleston in the same room…drinking while recording a podcast. What could possibly go wrong? Apparently, everything. Listen to the two echo one another’s comments (literally) on election fallout and the widening chasm between economic reality and valuations in certain parts of the market. Will and Adam experienced technical difficulties in the recording of this podcast—we apologize for the sound quality.

Of the periodic table, that is. We talk hydrogen vs. gravity power, rubidium-colored drinks, even unstable francium, provide an update on the potassium-shaped recovery, and answer questions regarding one of our recent white papers. Listening is even easier than Elon Musk thinks it is to find and process lithium using sodium chloride; we are unsure how many cesium cycles long this podcast is, though.

We discuss the psychology behind investors’ current affinity for glamour stocks and why it may not end soon, how this relates to the Fed’s new inflation policy, and why Will loves lamp.

We look to Jim, Rex, and Cosmo, collectively the “C(K)ramers”, for perspective on the Fed, market multiples, the shape of the recovery, and the Dunning-Kruger effect.

Escape from the labyrinth and explore why physics don’t comport with the Icarus myth, and how the same kind of first-order thinking is affecting markets, where certain sectors and companies are in rarified air.