WALL STREET’S #1 ECONOMIST SEES A REALLY BAD ECONOMY GETTING BETTER BUT FEARS A DAMAGING 2ND WAVE

May 15, 2020

No doubt about it. The stream of economic news is terrible. The pandemic induced shutdown of much of the U.S. economy, Europe and other countries has resulted in stunning declines in employment, income, sales, earnings, government revenues, and overall economic output.

This week’s guest has been following and cataloging all of the economic and policy developments since the beginning of the pandemic and joins us with a summary and update on what it means for the overall economy, businesses, consumers, and investors. 

We are delighted to welcome Ed Hyman back to WEALTHTRACK to share his current outlook with us. Hyman has been voted Wall Street’s Number One Economist for an unprecedented 39 years in Institutional Investor’s annual survey. No one else comes even close to that record.

He is Vice Chairman of Evercore, a leading independent investment banking and advisory firm, and the Founder and Chairman of its Evercore ISI division where he leads its economic research team.

For months now Hyman’s must-read daily reports have described the condition of the global economy as being in “free fall” and the policy response as “massive”. Just recently however he noticed a slight change.  As he described it the economic data was still “really bad,” but it was also, “better.”

He will describe both the “really bad” and the “better” for us.

WEALTHTRACK Episode #1646; Originally Broadcast on May 15, 2020

Listen to the audio-only version here:

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ED HYMAN

  • Founder, Chairman, Head of Economic Research,
  • Evercore ISI

REASSESS YOUR EXPENSES

  • COVID-19 a wakeup call
  • Doing without many activities
  • Many former luxuries, not necessities

No Bookshelf titles this week.

A BETTER MOUSETRAP

  • Own the FAANGs + Microsoft
  • Facebook, Amazon, Apple, Netflix, Google (Alphabet)
  • – Doing great
  • – Getting stronger
No stock mentions in this episode.

Ed Hyman from the WEALTHTRACK Archives:

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PERSONAL PANDEMIC CHANGES

COVID-19 and the policy responses to it have dramatically changed the way we live and work. Will it have a lasting effect? We asked Ed Hyman what changes he envisions will be permanent in his life.


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