Latest / Rigatoni Capital Podcast
Why Exiting Iran Is the Real Bull Case for Stocks
Stocks held up after the hawkish hike, congratulations. However, Bank of America's math explains what comes next: the S&P's projected 33% earnings growth this year will not carry the market higher by itself, because a market this expensive needs lower inflation to re-rate, and earnings alone will not deliver that. The clearest path to that relief runs through the US getting out of Iran and letting oil settle, which is why I keep arguing we should exit. I walk through the likely gaslighting-victory scenario, where the White House declares a win and leaves, and why I doubt a clean exit happens…
The skinny
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