We’re in a Bull Market, Not in a Bubble: Shaoul

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July 28 (Bloomberg) -- Michael Shaoul, chairman and Chief Executive Officer at Marketfield Asset Management, and Steven Levy, author of “In The Plex,” discuss worries of a stock market bubble and the state of the tech industry. They speak on “Bloomberg Surveillance.”

Excitement of his new duties.

Our guest host is mark, from asset management.

He has this great optimistic perspective.

I want to frame the gloom that i hear over the weekend.

Bubble was the word in the literature.

Are we in a bubble?


you are in a bull market.

Bull markets have great deals of enthusiasm.

They always look a little bit silly.

It is not the late 1990's at this point in time.

Aspects may look familiar.

You're talking about m7&a. i think the fed is doing a good job of doing the background for a bubble.

But, where we are right now, no.

You more than anyone i know has a perspective of 1999 to 30 2014. what is different about the technology fromth now?

We are getting a lot of froth.

The symbol of that is this app called yo.

Olivia wants to scream at me.

She goes "yo." but on the other hand, the key companies there are really focusing on trying to make their mark there and stick to their plans.

I saw you can kind of go over company by company the big ones.

The key is facebook.

Facebook really killed it last week.

Mark andreessen is the venture capitalist.

He has been doing a series of tweets and facebook posts, posting the words of pundits who said that facebook would never make it.

They should have taken the money.

They should have taken this buy out or that buy out, criticizing microsoft for making an investment early on.

There is a faction of what facebook -- is the zuckerberg now worth more than brin and page?

Are you for -- i was finishing my last story.

The fallout began at medium.

We are still crying.

Now you just go to medium.

All right, we will keep going.

Let's talk about virgin america filing an ipo.

It is a placeholder.

What this really does he speak to the resurgence of the airlines.

We have seen that in the earnings of delta coming united, and american airlines.

They also announced a buyback for the first time and they are since 1980. and another deal.

This is in the retail sector.

Dollar tree has agreed to buy family dollar.

The price is about 23% premium.

Not what you would pay for a

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