This podcast episode discusses the correlation between war, inflation, and bull markets in the stock market. Host Barry Ritholtz interviews Jeff Hirsch, who presents a historical analysis showing how significant government spending during wartime and subsequent inflation have historically led to substantial market gains. Hirsch uses his father's research and updates his own previous prediction of a Dow reaching 39,000, now projecting a potential rise to over 62,000 by 2030, driven by factors like increased military spending in technology and the ongoing development of AI. The discussion highlights the potential investment opportunities in sectors such as technology, defense, and energy. The interview concludes by suggesting that long-term investors with a positive economic outlook should consider these sectors for potential gains.
