Bloomberg Brief (07/23/2024)

14:44 - Calls for one cut, conditionally, then comments on current "market expectations" 16:27 - Dawn breaks later mid-summer in Gotham 20:43 - Seems to me like that is a ton of budget that could be used to underwrite other content. Highly speculative, but I feel whoever is doing this deal would be well advised to make sure that that it's done through an SPV, a JV primarily between multiple streaming platforms, and that the whole thing is contingent upon the players union taking either a fully subordinated credit or an outright equity stake. 28:21 - Fear or FOMO? 29:06 - High gamma risk on the right tail is what it sounds like to me 31:16 - Anecdotal commentary and opinion regarding "institutional" market timing 32:43 - Sounds to me like calling inflections on dispersion (Possible research project: Build mathematical model where price is output and average market correlation is input, define a "highly correlated" category, and build a second model using data only from "highly correlated" observations. As always, past performance is no indication of future results.) 40:33 - Possible research project: Analyze retailers specializing in private labels and confirm whether their commentary aligns with this segment

Harris is widly unpopular and uncharismatic