The Big Macro Force That's Been Driving Stocks Higher for Years
Episode publishedPodcast: Odd LotsOdd Lots
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Hello, and welcome to another episode of the Odd Lots podcast. I'm Joe Wiesenthal.
And I'm Tracy Alloway.
So, Tracy, one of the things that we've been talking about a fair amount everyone's talking about it, I guess, is how the biggest, most profitable companies in America, they're still really big, and they're still really profitable, but they've switched from being throwing off tons of free cash flow Mhmm. To big investors spending a lot of money.
Yeah. That's right. So we've had years and years and years of big tech basically, I guess, generating infinite amounts of cash, it feels like. And now they're switching to actually spending some of that cash to build very expensive data centers and things like that. And you're right. It is kind of a change for the market. Right? Like, we haven't seen No. That scale of investment for a very long time. Certainly not, I don't think in our lifetimes, have we?
I don't know. No. I it doesn't feel like it. I mean, you know, I guess maybe we'll get into this in the conversation. You know, I think if you go back to like, pre GFC era, when a lot of the really big companies in the index were like, you know, Exxon was the biggest company of
the world
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