Matt breaks down the Fed’s 25 bp rate cut and the end of quantitative tightening — what it means for liquidity, inflation, and credit markets. Then he dives into The Financial Times piece, “Big Tech’s Market Dominance Is Becoming More Extreme,” explaining how eight companies now drive most of the S&P 500’s gains and profits.

Plus, a classic book spotlight: The Intelligent Investor by Benjamin Graham — Warren Buffett’s guide to fundamentals, market discipline, and margin of safety.

Mentioned: Jerome Powell, Stephen Myron, Benjamin Graham, Warren Buffett, Barron’s, Financial Times.

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Focus on the fundamentals — and think long term.

Books & Articles Mentioned:

• The Intelligent Investor by Benjamin Graham (with Jason Zweig commentary)

• Big Tech’s Market Dominance Is Becoming More Extreme – Financial Times

• Barron’s feature on consumer-staples performance and defensive sectors

People Referenced:

• Jerome Powell (Federal Reserve Chair)

• Stephen Myron (FOMC Member)

• Warren Buffett & Benjamin Graham

• Jason Zweig (WSJ)

• Seth Klarman, Mohnish Pabrai, Bill Ackman (value investors)

Chapters:

0:00 Intro & Fed recap

2:20 End of quantitative tightening

7:25 Impact on Credit

9:15 Tech concentration

11:18 Meta Shares Pullback

14:45 The Intelligent Investor – Benjamin Graham

15:16 Warren Buffet

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Focus on the fundamentals — and think long term.