Podcasts about autos

Shop Smarter: Your Guide to Buying Used Cars Online In this episode, we dive into smart consumer tips for buying used cars online — and what the launch of Amazon Autos means for everyday buyers. Joining us is special guest Justin Fischer of CarEdge, who brings expert insight into pricing transparency, dealer tactics, online buying risks, and how consumers can protect themselves in today's digital car marketplace. From vehicle history reports and hidden fees to return policies and financing traps, we break down what to look for — and what to avoid — before clicking “buy.” If you're considering purchasing your next used car online, this episode will help you shop smarter and buy with confidence.

Arunima Sinha, from the U.S. and Global Economics team, discusses how an upcoming Supreme Court decision could reshape consumer prices, retail margins and the inflation outlook in 2026.Read more insights from Morgan Stanley.----- Transcript -----Arunima Sinha: Welcome to Thoughts on the Market. I'm Arunima Sinha from Morgan Stanley's U.S. and Global Economics Teams.Today: How a single Supreme Court ruling could change the tariff math for U.S. consumers.It's Friday, February 13th at 10am in New York.The U.S. Supreme Court is deciding whether the U.S. president has legal authority to impose sweeping tariffs under IEEPA. That decision could come as soon as next Friday. IEEPA, or the International Emergency Economic Powers Act, is the legal backbone for a significant share of today's consumer goods tariffs. If the Supreme Court limits how it can be used, tariffs on many everyday items could fall quickly – affecting prices on the shelf, margins for retailers, and the broader inflation outlook.As of now, effective tariff rates on consumer goods are running about 15 percent, and that's based on late 2025 November data. And that's quite a bit higher than the roughly 10 percent average, which we're seeing as tariffs on all goods. In a post IEEPA scenario, we think that the effective tariff rate on consumer goods could fall to the mid-11 percent range.It's not zero, but it is meaningfully lower.An important caveat is that this is not going to be eliminating all tariffs. Other trade tools – like Section 232s, which are the national security tariffs, Section 301s, the tariffs that are related to unfair trade practices – would remain in place. Autos and metals, for example, are largely outside the IEEPA discussion.The main pressure point we think is consumer goods. IEEPA has been used for two major sets of tariffs. The fentanyl-related tariffs on Mexico, Canada, and China, and the so-called reciprocal tariffs applied broadly across trading partners. And these often stack on top of the existing tariffs, such as the MFN, the Most Favored Nation rates, and the section 301 duties on China that were already existing before 2025.The exposure is really concentrated in certain categories of consumer goods. So, for example, in apparel and footwear, about 60 percent of the applied tariffs are IEEPA related. For furniture and home improvement, it's over 70 percent. For toys, games, and sporting equipment, it's more than 90 percent. So, if the IEEPA authority is curtailed, the category level effects would be meaningful.There are caveats, of course. The court's decision may not be all or nothing. And policymakers could turn to alternative authorities. One example is Section 122, which allows across the board tariffs for up to 15 percent for 150 days. So, tariffs could just reappear under different tools. But in the near term, fully replacing IEEPA-based tariffs on consumer goods may not be straightforward, especially given ongoing affordability concerns.So, how does that matter for the real economy? There are two key channels, prices and margins. On prices we estimate that about 60 percent of the tariff costs are typically passed on to the consumers over two to three quarters, but it's not instant. Margins though could respond faster. If companies get cost relief before they adjust prices downwards, that creates a temporary margin tailwind. That could influence hiring, investment and earnings across retail and consumer supply chains.Over time, lower tariffs could also reinforce that broader return to core goods disinflation starting in the second quarter of this year. And because tariff driven inflation has weighed more heavily on the middle- and lower-income households, any eventual price relief could disproportionately benefit those groups.At the end of the day, this isn't just a legal story. It is a timing story. If IEEPA authority is curtailed, the arithmetic shifts pretty quickly. Margins move first, prices follow later, and the path back to goods disinflation could accelerate. That's why this is one ruling worth watching before the gavel drops.Thanks for listening. If you enjoy the show, please leave us a review wherever you listen and share thoughts on the market with a friend or colleague today.

En esta emisión de Autos y Más, arrancamos con las noticias más relevantes del mundo del motor, dimos las características de la nueva versión Toyota Highlander eléctrica, generando una potencia de 243 caballos de fuerza, integrando la tecnología de vanguardia. No dejes de escuchar la transmisión en vivo porque tendremos muchos regalos, recuerda sintonizar de lunes a viernes de 8 a 9 pm y sábados de 10 am a 12 pm por tu estación favorita MVS Noticias en el 102.5 de tu FM.See omnystudio.com/listener for privacy information.

With testing in Sebring and cars on track between now and St. Pete, we're calling it: the off season is done! Hallelujah! Tim's getting his daughter ready for school while we record so he's gone, so the guys cover AI images of Off Track, what testing in Sebring means or doesn't mean, a possible new qualifying formate, and more!+++Off Track is part of the SiriusXM Sports Podcast Network. If you enjoyed this episode and want to hear more, please give a 5-star rating and leave a review. Subscribe today wherever you stream your podcasts.Want some Off Track swag? Check out our store!Check out our website, www.askofftrack.comSubscribe to our YouTube Channel.Want some advice? Send your questions in for Ask Alex to AskOffTrack@gmail.comFollow us on Twitter at @askofftrack. Or individually at @Hinchtown, @AlexanderRossi, and @TheTimDurham. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Kann man erfolgreich werden, wenn man alles auf eine Karte setzt? Sophie Schillgalies hat genau das getan. Nach dem Abitur und einer Phase gesundheitlicher Rückschläge entschied sie sich bewusst für den Autovertrieb – obwohl der Weg alles andere als vorgezeichnet war. Sie stellte bestehende Regeln infrage, ging selbstbewusst durch das Assessment und startete direkt im Verkauf. Heute leitet sie das AMG Performance Center in Lüneburg, verkauft jährlich über 150 High-Performance-Fahrzeuge und baut mit eigenen Events eine Plattform für echte Petrolheads auf. Im Gespräch mit Jörg geht es um Initiative, Verlässlichkeit und die Frage, warum Erfolg im Vertrieb nicht vom Zufall kommt. Sophie spricht darüber, wie wichtig es ist, Verantwortung zu übernehmen, Chancen aktiv zu nutzen und für Kunden dauerhaft ansprechbar zu bleiben. Eine Folge über Mut, Haltung und die Entscheidung, nicht auf Sicherheit zu warten – sondern loszugehen. Bewerte diesen Podcast bei iTunes und/oder Spotify und abonniere „KINTZEL MINDSET", wenn du keine weitere Folge mehr verpassen möchtest. __________ Sophie Instagram: https://www.instagram.com/sophieschillgalies/ Mehr von Jörg: UnternehmenX - Dein Weg zum erfolgreichen Unternehmens­berater: https://linktw.in/qUCMZF Das Seminar für echte Unternehmensführung am 13.12.25 - Ticket sichern: https://linktw.in/BpLQqj ► Instagram: https://www.instagram.com/joergkintzel/ ► YouTube: https://www.youtube.com/@joergkintzel ► LinkedIn: https://www.linkedin.com/in/jörg-kintzel-vertrieb-unternehmertum/ ► Homepage: https://joergkintzel.com/ Jörg Kintzel ist Vorstand, selbstständiger Handelsvertreter und Aktionär der Valuniq AG, einer der größten unabhängigen Finanzdienstleister Deutschlands (gem. jährlicher Cash-Rangliste). Gemeinsam mit seiner Frau Birgit Elisabeth Kintzel führt er als Unternehmer und Investor die SVART GmbH, ein Family Office, das verschiedene Beteiligungen an Unternehmen und Start-ups bündelt. Mit der SVART GmbH fördern Jörg und Birgit Elisabeth Kintzel zusammen ganz gezielt Ideen und setzen sie gemeinsam in die Tat um. Über Erfolge wird leider in Deutschland viel zu wenig geredet, dabei hat dieses Land Unglaubliches und auch viele Innovationen zu verbuchen. Darum ist es ihnen ein persönliches Anliegen, ihr Wissen und ihre Finanzkraft in Menschen zu investieren und diese Erfolge sichtbarer und größer zu machen. Denn sie werden zukünftig dazu beitragen, dieses Land nach vorne zu bringen. Impressum: https://joergkintzel.com/impressum/ __________ KINTZEL MINDSET, Jörg Kintzel, Business, Unternehmertum, Wirtschaft, Interviewpodcast, Wirtschaftspodcast, Investor, Geld, Autos, Uhren, Mindset, Family Office, Unternehmer, Performance, Unternehmen gründen, Verkauf, Sales, Start-Up, Vertrieb, Mindset, Erfolg, Persönlichkeitsentwicklung, Selbstbewusstsein, Leadership, Produktivität, Motivation, Karriere, Unternehmertum, Nein sagen, Entscheidungsfindung, Selbstmanagement, Zielsetzung, Selbstreflexion, Kommunikation, Kundenakquise, Zeitmanagement, Selbstvertrauen, Erfolgsstrategien, Verkaufstechniken, Resilienz, Stressmanagement, Mentaltraining, Selbstwirksamkeit, Netzwerken, Innovationsgeist, Business-Strategien, Work-Life-Balance, Weiterbildung

En esta emisión de Autos y Más, arrancamos con las noticias más relevantes del mundo del motor, platicamos del llamado que hace BMW para la revisión de 5 mil 048 vehículos. También, platicamos de la venta de autos al alza. Además, dimos todos los detalles de los ensayos de Fórmula 1 en Bahrein, por último, comentamos el incremento del 18% en ventas durante el mes de enero de Honda. No dejes de escuchar la transmisión en vivo porque tendremos muchos regalos, recuerda sintonizar de lunes a viernes de 8 a 9 pm y sábados de 10 am a 12 pm por tu estación favorita MVS Noticias en el 102.5 de tu FM.See omnystudio.com/listener for privacy information.

Autos werden zu softwaredefinierten Plattformen. Funktionen, Updates und neue Services entstehen nicht mehr allein in der Hardware, sie werden kontinuierlich weiterentwickelt und „over the air“ ins Fahrzeug gespielt. Im Podcast sprechen unsere Partner Paul Jana und Sebastian Küchler darüber, warum Software zum zentralen Differenzierungsmerkmal wird. Sie zeigen, wie sich Fahrzeuge entlang von Technologiezyklen statt klassischer Modellzyklen entwickeln. Welche strategischen und organisatorischen Veränderungen sind notwendig, damit Hersteller Geschwindigkeit, Qualität und Komplexität in Einklang bringen, und wie lässt sich dadurch neuer Wert schaffen?See www.mckinsey.com/privacy-policy for privacy information

Neues Jahr, neue Podcast-Folge! Denn auch im Jahr 2026 möchten wir Sie wieder über Betrügereien, Bedrohungen und alte und neue kriminelle Maschen in der IT- und Kommunikations-Sicherheit und im täglichen Alltag informieren. Unsere heutigen Themen sind unter anderem Big Macs und Sirenen, russische Autos, die nicht anspringen, Betrügereien mit PayPal, die Sicherheit von E-Mail-Diensten und Anleger-Scheinwelten. SKYTALE Online Akademie für IT-Sicherheit Alle SKYTALE Podcasts Folge direkt herunterladen

En esta emisión de Autos y Más, arrancamos con las noticias más relevantes del mundo del motor, platicamos de los lanzamientos de Geely Coolray Lite. También, hablamos de la gran demanda en el mercado de Dodge Attitude GT verde Hornet. Además, comentamos el nuevo beneficio de protección de neumáticos que incorpora Volkswagen en su servicio posventa. No dejes de escuchar la transmisión en vivo porque tendremos muchos regalos, recuerda sintonizar de lunes a viernes de 8 a 9 pm y sábados de 10 am a 12 pm por tu estación favorita MVS Noticias en el 102.5 de tu FM.See omnystudio.com/listener for privacy information.

Privater Abschied: Ehemaliger Bischof Bode verlässt Osnabrück Testfahrten: KI soll in Osnabrück Radfahrer vor Autos schützen

Die Lebenshaltungskosten auf Mallorca sind hoch. Wir haben einen aktuellen Vergleich mit anderen Regionen in Spanien. Wird die Zahl der Autos, die nicht hier zugelassen sind, wirklich beschränkt? Wir schauen auf den Stand der Dinge zu diesem Thema. In der ARD gibt es ab Ende März eine neue Doku-Soap über deutsche Frauen auf Mallorca zu sehen. www.5minutenmallorca.com

Stellenabbau bei Osram Regensburg: IG Metall kritisiert Konzernführung / Siemens Energy dank Künstlicher Intelligenz auf Rekordkurs / Bitkom: Deutsche Firmen sind schlecht auf den Ernstfall vorbereitet // Beiträge von: Andreas Wenleder, Margit Siller / Moderation: Ralf Schmidberger

The guys catch up after a weekend of football and ads, then they get into some interesting questions about IndyCar: what's more important to a successful IndyCar career, timing or talent? Plus, what rule would they change if they were in charge? +++Off Track is part of the SiriusXM Sports Podcast Network. If you enjoyed this episode and want to hear more, please give a 5-star rating and leave a review. Subscribe today wherever you stream your podcasts.Want some Off Track swag? Check out our store!Check out our website, www.askofftrack.comSubscribe to our YouTube Channel.Want some advice? Send your questions in for Ask Alex to AskOffTrack@gmail.comFollow us on Twitter at @askofftrack. Or individually at @Hinchtown, @AlexanderRossi, and @TheTimDurham. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Cari hat beschlossen, dass sie ihr Geld nur noch fürs Reisen raushauen möchte — wir erklären, was dieses Wort bedeutet. Aber auch auf einer großen Reise ist es unmöglich, alles von einem neuen Land zu sehen. Cari verspürt daher ein wenig FOMO. Manuel erlärt den Begriff Onism: Die schmerzhafte Einsicht, dass man in einem einzigen Leben nicht alles auf der Welt erleben kann. Zum Schluss erklären wir, wieso in Berlin bald vielleicht weniger Autos fahren könnten…   Transkript und Vokabelhilfe Werde ein Easy German Mitglied und du bekommst unsere Vokabelhilfe, ein interaktives Transkript und Bonusmaterial zu jeder Episode: easygerman.org/membership   Sponsor Lingoda: Learn at your own pace in 2026 — small classes, live teachers, flexible schedule. Sign up before Feb 24, 2026 and use our code EASYFEB to save up to 30% on Lingoda Flex: https://try.lingoda.com/EasyGerman_Februar   Ausdruck der Woche: raushauen raushauen (Duden)   Das nervt: FOMO Fear of missing out (Wikipedia) Dictionary of Obscure Sorrows Buch (Goodreads) YouTube-Kanal (YouTube) Onism: The Awareness of How Little of the World You'll Experience (YouTube)   Darüber redet Deutschland: Volksentscheid Berlin autofrei tagesschau: Autofreie Innenstadt: Berlin stimmt über Volksentscheid ab (YouTube) Volksentscheid Berlin autofrei   Empfehlung der Woche 3sat: Die neue Macht des gesprochenen Wortes (YouTube) Über deutschsprachige Podcasts haben wir auch in Episode 582 gesprochen   Support Easy German and get interactive transcripts, live vocabulary and bonus content: easygerman.org/membership

Gabor Steingart präsentiert das Pioneer Briefing.

Weil eine 15-jährige Eritreerin sich an einem Klingelstreich beteiligte und Eier an eine Hausfassade warf, wurde ihr die Einbürgerung vom Grossen Rat verweigert. Zu Unrecht, befand jetzt das Aargauer Verwaltungsgericht. Weiter in der Sendung: · Neuzulassungen von Autos: Überdurchschnittlich viele Elektroautos im Aargau und in Solothurn

In today's episode of The Daily Brief, we cover two major stories shaping the Indian economy and global markets:00:04   Intro00:29   Auto demand up, supply strains09:58   Inside a ₹4 crore stock manipulation19:45   TidbitsWe also send out a crisp and short daily newsletter for The Daily Brief. Put your email here and we'll make you smart every day: https://thedailybriefing.substack.com/Note: This content is for informational purposes only. None of the stocks, brands, or products mentioned are recommendations or endorsements.

In dieser Folge geht's einmal quer durch die digitale Gegenwart – von knallharter Plattform-Regulierung bis zu sehr realen Rattenproblemen im Glasfasernetz. Frankreich durchsucht das Pariser Büro von X und zeigt, wie ernst es Plattformverantwortung meint. Parallel diskutieren wir Elon Musk, Starlink und die Frage, warum eine einzelne Person die Macht haben darf, ganze Regionen digital abzuschalten. Dazu: Polen verbannt chinesische Autos von Militärbasen, weil moderne Fahrzeuge längst rollende Sensorplattformen sind. Social Media bleibt ein Reizthema: LinkedIn-Spam, Sales-Bots, Mastodon, Bluesky und die Frage, warum gutes Networking oft an Automation stirbt. Technisch wird's bei veganen Glasfaserkabeln, die von Ratten zerfressen werden, Phishing-Briefen mit QR-Codes per Post und einer Supply-Chain-Attacke auf Notepad++. Zum Finale: Bluetooth-AuraCast am Flughafen (geniale Idee oder absoluter Albtraum?), kaputte iOS-Tastaturen, Gboard-Geständnisse, Schweizer Tastaturlayouts und ein Ausflug in die Welt historischer Verschlüsselung, Enigma, Morsecode und Metadaten. -- Links zur Folge immer auf https://podcast.ichglaubeeshackt.de/ Wenn Euch unser Podcast gefallen hat, freuen wir uns über eine Bewertung! Feedback wie z.B. Themenwünsche könnt Ihr uns über sämtliche Kanäle zukommen lassen: Email: podcast@ichglaubeeshackt.de Web: podcast.ichglaubeeshackt.de Instagram: http://instagram.com/igehpodcast

En esta emisión de Autos y Más, arrancamos con las noticias más relevantes del mundo del motor, platicamos de nuestra experiencia en San Francisco durante el Super Bowl LX 2026 con Quaker State México. También, hablamos de la revelación de Cadillac con el monoplaza de Checo Pérez para la temporada 2026 de Fórmula 1. Además, comentamos algunos de los comerciales que se lanzaron antes y durante el partido Super Bowl entre estos el SUV híbrido Jeep Cherokee. No dejes de escuchar la transmisión en vivo porque tendremos muchos regalos, recuerda sintonizar de lunes a viernes de 8 a 9 pm y sábados de 10 am a 12 pm por tu estación favorita MVS Noticias en el 102.5 de tu FM.See omnystudio.com/listener for privacy information.

Ein schöner Abend in einem Hotelzimmer in Hamburg. Kopf an Kopf in einem Ehebett liegend schwelgen OST und SUED in vergangenen Erinnerungen. Das Leben kann so schön sein!

Vor 25 Jahren ist das erste serienmäßig produzierte Hybridauto auf den deutschen Markt gekommen, der Toyota Prius. Die Kombination aus Verbrenner und Elektromotor erfreut sich zunehmender Beliebtheit, doch es gibt auch Kritik. Katha Jansen mit den Hintergründen

Um das Verkehrssicherheitszentrum des Kantons zu entlasten, werden Nachkontrollen bei Fahrzeugen teilweise durch externe Garagen ausgeführt. Künftig soll diese Praxis ausgebaut und durch mehr Digitalisierung vereinfacht werden. Weiter in der Sendung: · Nach Meningitis-Infektion: Die 120 Rekruten in Emmen sind nicht mehr in Quarantäne. · Die Luzerner Polizei hat sechs Männer festgenommen, welche mutmasslich in mindestens elf Kantonen insgesamt 161 Einbrüche begangen haben.

Die Auswertung der Neuzulassungen bei den Autos in den beiden Kantonen Aargau und Solothurn zeigt, welche Autos besonders beliebt sind. Im Vergleich zu andern Kantonen setzt man bei uns vermehrt auf E-Fahrzeuge. Weiter in der Sendung: · Man sei nicht untätig, kontert die Gemeinde Gempen und der Kanton die Kritik von Bewohnerinnen und Bewohnern. Mehr Polizeikontrollen sollen auf der beliebten Passstrasse für mehr Sicherheit und weniger Lärm sorgen. · An der Solothurner Fasnacht trägt man traditionell Holzschuhe. Diese werden in Unterkulm beim "Schlarpe-Chlopfer" hergestellt. Das traditionelle Schweizer Handwerk steht vor dem aus. Das Ehepaar Aerni stellt die Holzschuhe nur noch bis 2030 her.

En esta emisión de Autos y Más, arrancamos con las noticias más relevantes del mundo del motor, rumbo a San Francisco a celebrar el Super Bowl LX 2026 con Quaker State México. También, comentamos las 3 ediciones especiales limitadas que lanza Kia para la FIFA World Cup y son k3, k4 y Sportarge. No dejes de escuchar la transmisión en vivo porque tendremos muchos regalos, recuerda sintonizar de lunes a viernes de 8 a 9 pm y sábados de 10 am a 12 pm por tu estación favorita MVS Noticias en el 102.5 de tu FM.See omnystudio.com/listener for privacy information.

For years, growers have looked down on Autoflowers. They said the potency wasn't there. They said the yield was too small. They said you couldn't win a real cup against Photoperiods.Today, we sit down with @chubbakas, the man who just silenced the critics by winning the American Auto Cup using Fast Buds Genetics (Apricot Auto).In this episode of Organically Blunt, Jay Blaze gets the exact blueprint on how a home grower took home the belt. We strip away the "bro-science" and get to the truth about modern genetics.In this episode, we cover:

Send us a textOur Patreon - https://www.patreon.com/HockeyCardsGongshowReplay of Friday Nights with Phil from February 7th, 2026.Phil, Dave & Victoria are live for another Friday night!  Phil asks more random Canadiens on OmeTV if they know Connor McDavid.  Phil plays an anagram game, Victoria eats her words on the Stadium series and California Dave shows off some of his Clear Cut Outburst autos!Partners & SponsorsGongshow Reloaded - https://www.GongshowReloaded.comHockeyChecklists.com - https://www.hockeychecklists.comSlab Sharks Consignment - http://bit.ly/3GUvsxNSlab Sharks is now accepting U.S. submissions!MINTINK - https://www.mintink.caPSA - https://www.psacard.comGP Sports Cards - https://gpsportcards.com/Private Collection Insurance - https://privatecollectioninsurance.comThe Hockey Cards Gongshow podcast is a production of Dollar Box Ventures LLC

Activan protocolo sanitario por sarampión en penales de Jalisco Semar erradica más de 100 plantíos de amapola en NayaritCanadá lanza incentivos para liderar mercado de autos eléctricosMás información en nuestro podcast

Es geht um Autos: Um Karren, Flitzer, heiße Schlitten und um einen Rücktritt, der nicht nur die Automobilwelt aufgewirbelt hat. Die WDR 2 Satiriker Jürgen Becker & Didi Jünemann geben Gas. Von Jürgen Becker /Didi Jünemann.

Wir resümieren unsere 60 Minuten im Pace Museum von JP Performance, sprechen über Autos zum anschauen und Autos zum spüren, großartige Zimtschnecken und den Geist von Jean-Pierre, den wir zu spüren glaubten. Wir freuen uns auf Eure Kommentare unter dem Post zur Folge bei Instagram oder in der Freundeskreis-Community! Du hast Lust, auch ein Teil der Freundeskreis-Community zu werden? Schau mal auf fotografietutgut.de vorbei!

Will Buxton joined Hinch as a guest host to go over their takes from the content days, what the 2026 season has in store, what they think of the F1 shakedown, and more. But Buxton had a hard out, so Hinch and Tim cover the DC race announcement without him.+++Off Track is part of the SiriusXM Sports Podcast Network. If you enjoyed this episode and want to hear more, please give a 5-star rating and leave a review. Subscribe today wherever you stream your podcasts.Want some Off Track swag? Check out our store!Check out our website, www.askofftrack.comSubscribe to our YouTube Channel.Want some advice? Send your questions in for Ask Alex to AskOffTrack@gmail.comFollow us on Twitter at @askofftrack. Or individually at @Hinchtown, @AlexanderRossi, and @TheTimDurham. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Profepa cancela carrera en el Área Natural Protegida de CuatrociénegasControlan incendio en ducto de Pemex en Rosarito ONU llama a retomar las negociaciones nucleares entre EU y Rusia 

Resumen de noticias de la mañana del 5 de febrero de 2026

Jörg startet diese Folge mit einer klaren These: Steuerberater sind schlecht in Strukturfragen ausgebildet. Und ja – er meint das genau so. In dieser Episode erklärt er, warum das aus seiner Sicht kein persönliches Versagen ist, sondern ein strukturelles Problem, das viel mit fehlender Weiterbildung zu tun hat. Du erfährst, weshalb Buchhaltungssätze bei Steuerberatern häufig zu niedrig angesetzt sind und was das über das Selbstverständnis der Branche aussagt. Jörg spricht darüber, warum viele Unternehmer genau an dieser Stelle falsch beraten werden – und warum Strukturfragen oft liegen bleiben, obwohl sie enorme Auswirkungen haben. Außerdem erklärt Jörg, woran du erkennst, dass ein Steuerberaterwechsel sinnvoll sein kann und warum es entscheidend ist, auf Augenhöhe mit Steuerberatern zu sprechen. In diesem Zusammenhang geht es auch um Unternehmen X und darum, wie Unternehmer lernen können, bessere Fragen zu stellen und Verantwortung für ihre Strukturen zu übernehmen. Zum Abschluss gibt es noch tierische News vom Kintzel. Bewerte diesen Podcast bei iTunes und/oder Spotify und abonniere „KINTZEL MINDSET", wenn du keine weitere Folge mehr verpassen möchtest. __________ Mehr von Jörg: UnternehmenX - Dein Weg zum erfolgreichen Unternehmens­berater: https://linktw.in/qUCMZF Das Seminar für echte Unternehmensführung am 13.12.25 - Ticket sichern: https://linktw.in/BpLQqj ► Instagram: https://www.instagram.com/joergkintzel/ ► YouTube: https://www.youtube.com/@joergkintzel ► LinkedIn: https://www.linkedin.com/in/jörg-kintzel-vertrieb-unternehmertum/ ► Homepage: https://joergkintzel.com/ Jörg Kintzel ist Vorstand, selbstständiger Handelsvertreter und Aktionär der Valuniq AG, einer der größten unabhängigen Finanzdienstleister Deutschlands (gem. jährlicher Cash-Rangliste). Gemeinsam mit seiner Frau Birgit Elisabeth Kintzel führt er als Unternehmer und Investor die SVART GmbH, ein Family Office, das verschiedene Beteiligungen an Unternehmen und Start-ups bündelt. Mit der SVART GmbH fördern Jörg und Birgit Elisabeth Kintzel zusammen ganz gezielt Ideen und setzen sie gemeinsam in die Tat um. Über Erfolge wird leider in Deutschland viel zu wenig geredet, dabei hat dieses Land Unglaubliches und auch viele Innovationen zu verbuchen. Darum ist es ihnen ein persönliches Anliegen, ihr Wissen und ihre Finanzkraft in Menschen zu investieren und diese Erfolge sichtbarer und größer zu machen. Denn sie werden zukünftig dazu beitragen, dieses Land nach vorne zu bringen. Impressum: https://joergkintzel.com/impressum/ __________ KINTZEL MINDSET, Jörg Kintzel, Business, Unternehmertum, Wirtschaft, Interviewpodcast, Wirtschaftspodcast, Investor, Geld, Autos, Uhren, Mindset, Family Office, Unternehmer, Performance, Unternehmen gründen, Verkauf, Sales, Start-Up, Vertrieb, Mindset, Erfolg, Persönlichkeitsentwicklung, Selbstbewusstsein, Leadership, Produktivität, Motivation, Karriere, Unternehmertum, Nein sagen, Entscheidungsfindung, Selbstmanagement, Zielsetzung, Selbstreflexion, Kommunikation, Kundenakquise, Zeitmanagement, Selbstvertrauen, Erfolgsstrategien, Verkaufstechniken, Resilienz, Stressmanagement, Mentaltraining, Selbstwirksamkeit, Netzwerken, Innovationsgeist, Business-Strategien, Work-Life-Balance, Weiterbildung

#384 – Autotelefon-Autorätsel: Wenn neue Autos keine echten (Funk-)Schlüssel mehr haben und vom Nutzer keine Smartphone-App installiert werde möchte, hilft bei einigen Autos nur eine NFC-Scheckkarte weiter. Aber wo bitte hält man sie denn hin, um das Auto zu öffnen? Genau so ein Gefährt hat Paul-Janosch gerade als Testwagen vor dem Büro stehen. - Weitere Themen der heutigen Sendung: 140 Jahre Automobil und die MOPF der S-Klasse von Mercedes-Benz, der Subaru Crosstrek und der DS N°8. Hosts: Paul-Janosch Ersing, Michael Blumenstein // Wer lesen kann, ist klar im Vorteil? Zumindest unsere Podcast-Hörer*innen wissen Bescheid und können sich auf https://www.autotelefon-podcast.de auch mit dem geschriebenen Wort auseinandersetzen. Wir nennen es Lektüre. Jede Woche neue Themen zum Nachlesen!

Dario Franchitti is going truck racing in St Pete for Jimmy Johnson, so he hops on to tell James all about it. Plus, he talks about racing vintage cars, what his off season looks like, how he's gotten back into driving, and more!+++Off Track is part of the SiriusXM Sports Podcast Network. If you enjoyed this episode and want to hear more, please give a 5-star rating and leave a review. Subscribe today wherever you stream your podcasts.Want some Off Track swag? Check out our store!Check out our website, www.askofftrack.comSubscribe to our YouTube Channel.Want some advice? Send your questions in for Ask Alex to AskOffTrack@gmail.comFollow us on Twitter at @askofftrack. Or individually at @Hinchtown, @AlexanderRossi, and @TheTimDurham. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

August Horch heuert zunächst bei Carl Benz an. Doch der lässt ihn keine Autos bauen. Trotzdem hat er Erfolg: Bis zu seinem Tod am 3.2.1951 gründet er zwei Automarken. Von Burkhard Hupe.

Auf Produkten einer Bäckerei steht zugleich «glutenfrei» und «Kann Spuren von Gluten enthalten». Ist das erlaubt? +++ Weiteres Thema: Kann die Handbremse des Autos bei Minustemperaturen festfrieren?

Este episodio está dedicado a las mujeres, a las mujeres que forman parte de los premios WWCOTY o Women´s Worlwide car of the year, un jurado que está conformado por 84 mujeres periodistas de 85 países  y México está representado por Isabel del Ángel, periodista de industria automotriz que escribe en Netcar y también tiene un programa de radio ABC Motores junto con Xavier Reynaga, una mujer que forma parte de la industria automotriz hace más de 20 años y forma parte del jurado de estos premios desde hace 10 años. Conoce la historia de como nacieron estos premios que solo los otorgaban hombres y como una mujer que le dijeron que no podía organizó sus propios premios que se han hecho muy importantes para la industria automotriz a nivel mundial.  Los premios reconocen a los mejores vehículos del año por su diseño, tecnología, eficiencia y su capacidad para satisfacer las necesidades de los conductores en todo el mundo. El Nissan Leaf, Škoda Elroq, Mercedes-Benz CLA, Hyundai Ioniq 9, Toyota 4Runner y Lamborghini Temerario han sido nombrados ganadores de sus respectivas categorías este año. WWCOTY ha otorgado a Renault el Premio a la Mejor Tecnología y a Ford el Premio Sandy Myhre por su compromiso con la igualdad de género. No te pierdas este gran episodio.

O Direito existe para nos resguardar perante a lei, mas também nos proporciona risadas jamais experimentadas. Que tal curtir algumas agora neste episódio onde o juízo da vida alheia corre solto sem culpa? E POR FAVOR! NOS AJUDE A MANTER NOSSO PODCAST E ESTA ESTRUTURA QUE FAZ TANTA GENTE SORRIR! Vem no apoia.se/hojetempodcastCaso prefira doar em outra moeda pode ser pelo patreon.com/hojetem

Original Release Date: January 16, 2026Our Head of Research Product in Europe Paul Walsh and Chief European Equity Strategist Marina Zavolock break down the main themes for European stocks this year. Read more insights from Morgan Stanley.----- Transcript -----Paul Walsh: Welcome to Thoughts on the Market. I'm Paul Walsh, Morgan Stanley's Head of Research Product here in Europe.Marina Zavolock: And I'm Marina Zavolock, Chief European Equity Strategist.Paul Walsh: Today, we are here to talk about the big debates for European equities moving into 2026.It's Friday, January the 16th at 8am in London.Marina, it's great to have you on Thoughts on the Market. I think we've got a fascinating year ahead of us, and there are plenty of big debates to be exploring here in Europe. But let's kick it off with the, sort of, obvious comparison to the U.S.How are you thinking about European equities versus the U.S. right now? When we cast our eyes back to last year, we had this surprising outperformance. Could that repeat?Marina Zavolock: Yeah, the biggest debate of all Paul, that's what you start with. So, actually it's not just last year. If you look since U.S. elections, I think it would surprise most people to know that if you compare in constant currency terms; so if you look in dollar terms or if you look in Euro terms, European equities have outperformed U.S. equities since US elections. I don't think that's something that a lot of people really think about as a fact.And something very interesting has happened at the start of this year. And let me set the scene before I tell you what that is.In the last 10 years, European equities have been in this constantly widening discount range versus the U.S. on valuation. So next one's P/E there's been, you know, we have tactical rallies from time to time; but in the last 10 years, they've always been tactical. But we're in this downward structural range where their discount just keeps going wider and wider and wider. And what's happened on December 31st is that for the first time in 10 years, European equities have broken the top of that discount range now consistently since December 31st. I've lost count of how many trading days that is. So about two weeks, we've broken the top of that discount range. And when you look at long-term history, that's happened a number of times before. And every time that happens, you start to go into an upward range.So, the discount is narrowing and narrowing; not in a straight line, in a range. But the discount narrows over time. The last couple of times that's happened, in the last 20 years, over time you narrow all the way to single digit discount rather than what we have right now in like-for-like terms of 23 percent.Paul Walsh: Yeah, so there's a significant discount. Now, obviously it's great that we are seeing increased inflows into European equities. So far this year, the performance at an index level has been pretty robust. We've just talked about the relative positioning of Europe versus the U.S.; and the perhaps not widely understood local currency outperformance of Europe versus the U.S. last year. But do you think this is a phenomenon that's sustainable? Or are we looking at, sort of, purely a Q1 phenomenon?Marina Zavolock: Yeah, it's a really good question and you make a good point on flows, which I forgot to mention. Which is that, last year in [Q1] we saw this really big diversification flow theme where investors were looking to reduce exposure in the U.S., add exposure to Europe – for a number of reasons that I won't go into.And we're seeing deja vu with that now, mostly on the – not really reducing that much in U.S., but more so, diversifying into Europe. And the feedback I get when speaking to investors is that the U.S. is so big, so concentrated and there's this trend of broadening in the U.S. that's happening; and that broadening is impacting Europe as well.Because if you're thinking about, ‘Okay, what do I invest in outside of seven stocks in the U.S.?' You're also thinking about, ‘Okay, but Europe has discounts and maybe I should look at those European companies as well.' That's exactly what's happening. So, diversification flows are sharply going up, in the last month or two in European equities coming into this year.And it's a very good question of whether this is just a [Q1] phenomenon. [Be]cause that's exactly what it was last year. I still struggle to see European equities outperforming the U.S. over the course of the full year because we're going to come into earnings now.We have much lower earnings growth at a headline level than the U.S. I have 4 percent earnings growth forecast. That's driven by some specific sectors. It's, you know, you have pockets of very high growth. But still at a headline level, we have 4 percent earnings growth on our base case. Consensus is too high in our view. And our U.S. equity strategists, they have 17 percent earnings growth, so we can't compete.Paul Walsh That's a very stark difference.Marina Zavolock: Yeah, we cannot compete with that. But what I will say is that historically when you've had these breakouts, you don't get out performance really. But what you get is a much narrower gap in performance. And I also think if you pick the right pockets within Europe, then you could; you can get out performance.Paul Walsh: So, something you and I talked about a lot in 2025, is the bull case for Europe. There are a number of themes and secular dynamics that could play out, frankly, to the benefits of Europe, and there are a number of them. I wondered if you could highlight the ones that you think are most important in terms of the bull case for Europe.Marina Zavolock: I think the most important one is AI adoption. We and our team, we have been able to quantify this. So, when we take our global AI mapping and we look at leading AI adopters in Europe, which is about a quarter of the index, they are showing very strong earnings and returns outperformance. Not just versus the European index, but versus their respective sectors. And versus their respective sectors, that gap of earnings outperformance is growing and becoming more meaningful every time that we update our own chart.To the point that I think at this rate, by the second half of this year, it's going to grow to a point that it's more difficult for investors to ignore. That group of stocks, first of all, they trade again at a big discount to U.S. equivalent – 27 percent discount. Also, if you see adoption broadening overall, and we start to go into the phase of the AI cycle where adopters are, you know, are being sought after and are seen as in the front line of beneficiaries of AI. It's important to remember Europe; the European index because we don't have a lot of enablers in our index. It is very skewed to AI adopters. And then we also have a lot of low hanging fruit given productivity demographic challenges that AI can help to address. So that's the biggest one.Paul Walsh: Understood.Marina Zavolock: And the one I've spent most time on. But let me quickly mention a few others. M&A, we're seeing it rising in Europe, almost as sharply as we're seeing in the U.S. Again, I think there's low hanging fruit there. We're seeing easing competition commission rules, which has been an ongoing thing, but you know, that comes after decade of not seeing that. We're seeing corporate re-leveraging off of lows. Both of these things are still very far from cycle peaks. And we're seeing structural drivers, which for example, savings and investment union, which is multifaceted. I won't get into it. But that could really present a bull case.Paul Walsh: Yeah. And that could include pensions reform across Europe, particularly in Germany, deeper capital…Marina Zavolock: We're starting to see it.Paul Walsh: And in Europe as well, yeah. And so just going back to the base case, what are you advocating to clients in terms of what do we buy here in Europe, given the backdrop that you've framed?Marina Zavolock: Within Europe, I get asked a lot whether investors should be investing in cyclicals or value. Last year value really worked, or quality – maybe they will return. I think it's not really about any of those things. I think, similar to prior years, what we're going to see is stock level dispersion continuing to rise. That's what we keep seeing every month, every quarter, every year – for the last couple of years, we're seeing dispersion rising.Again, we're still far from where we normally get to, when we get to cycle peaks. So, Europe is really about stock picking. And the best way that we have at Morgan Stanley to capture this alpha under the surface of the European index. And the growth that we have under the surface of the index, is our analyst top picks – which are showing fairly consistent outperformance, not just versus the European index, but also versus the S&P. And since inception of top picks in 2021, European top picks have outperformed the S&P free float market cap weighted by over 90 percentage points. And they've outperformed, the S&P – this is pre-trade – by 17 percentage points in the last year. And whatever period we slice, we're seeing out performance.As far as sectors, key sectors, Banks is at the very top of our model. It's the first sector that non-dedicated investors ask me about. I think the investment case there is very compelling. Defense, we really like structurally with the rearmament theme in Europe, but it's also helpful that we're in this seasonal phase where defense tends to really outperform between; and have outsized returns between January and April. And then we like the powering AI thematic, and we are getting a lot of incoming on the powering AI thematic in Europe. We upgraded utilities recently.Paul, maybe if I ask you a question, one sector that I've missed out on, in our data-driven sector model, is the semis. But you've worked a lot with our semi's team who are quite constructive. Can you tell us about the investment case there?Paul Walsh: Yeah, they're quite constructive, but I would say there's nuance within the context of the sector. I think what they really like is the semi cap space, which they think is really well underpinned by a robust, global outlook for wafer fab equipment spend, which we see growing double digits globally in both 2026 and 2027.And I think within that, in particular, the outlook for memory. You have something of a memory supercycle going on at the moment. And the outlook for memory is especially encouraging. And it's a market where we see it as being increasingly capacity constrained with an unusually long order book visibility today, driven really by AI inference. So strong thematic overlay there as well.And maybe I would highlight one other key area of growth longer term for the space, which is set to come from the proliferation of humanoid robots. That's a key theme for us in 2025. And of course, we'll continue to be so, in the years to come. And we are modeling a global Humanoids Semicon TAM of over $300 billion by 2045, with key pillars of opportunity for the semi names to be able to capitalize on. So, I think those are two areas where, in particular, the team have seen some great opportunities.Now bringing it back to the other side of the equation, Marina, which sectors would you be avoiding, within the context of your model?Marina Zavolock: There's a collection of sectors and they, for the most part, are the culprits for the low growth that we have in Europe. So simply avoiding these could be very helpful from a growth perspective, to add to that multiple expansion. These are at the bottom of our data driven, sector models. So, these are Autos, Chemicals, Luxury Transport, Food and Beverage.Most of these are old economy cyclicals. Many of these sectors have high China/old economy exposure – as well where we're not seeing really a demand pickup. And then lastly, a number of these sectors are facing ever rising China competition.Paul Walsh: And I think, when we weigh up the skew of your views according to your model, I think it brings it back to the original big debate around cyclicals versus defensives. And your conclusion that actually it's much more complicated than that.Marina, thanks for taking the time to talk.Marina Zavolock: Great to speak with you Paul.Paul Walsh: And thanks for listening. If you enjoy Thoughts on the Market, please leave us a review wherever you listen and share the podcast with a friend or colleague today.

Laks Ganapathi of Unicus Research discusses why her firm is taking short positions in auto companies, including CarMax (KMX) and Stellantis (STLA). She cites consumer difficulties, noting that CarMax is cutting prices and Stellantis said on its earnings call that it was losing customers. On the other hand, Carvana (CVNA) is taking market share. Laks also highlights the fact that pre-COVID cars were much better made, and says quality has notably deteriorated across brands.======== Schwab Network ========Empowering every investor and trader, every market day.Options involve risks and are not suitable for all investors. Before trading, read the Options Disclosure Document. http://bit.ly/2v9tH6DSubscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/About Schwab Network - https://schwabnetwork.com/about

CDMX impulsa inversión con nuevo Comité PromotorCosta Rica se prepara para elecciones presidenciales 2026-2030Más información en nuestro Podcast

Wir starten wieder einen Ausflug für unser „60 Minuten in…“ Projekt. Auf dem Weg nach Dortmund sprechen wir über unseren Januar und wie Falk mit seinem 365-Tage-Projekt Energie tankt. Wir sprechen darüber, warum Michael über seinen Rucksack nachdenken sollte, ob man auch im Februar mit einem Daily-Photography-Projekt beginnen kann und warum unser Benzin im Blut sich schon auf Zimtschnecken und JP Performance freut. Wir freuen uns auf Eure Kommentare unter dem Post zur Folge bei Instagram oder in der Freundeskreis-Community! Du hast Lust, auch ein Teil der Freundeskreis-Community zu werden? Schau mal auf fotografietutgut.de vorbei!

The guys are pretty beat from a great couple of content days. Plus, cars are almost on track, and will be for a while, so LFG!+++Off Track is part of the SiriusXM Sports Podcast Network. If you enjoyed this episode and want to hear more, please give a 5-star rating and leave a review. Subscribe today wherever you stream your podcasts.Want some Off Track swag? Check out our store!Check out our website, www.askofftrack.comSubscribe to our YouTube Channel.Want some advice? Send your questions in for Ask Alex to AskOffTrack@gmail.comFollow us on Twitter at @askofftrack. Or individually at @Hinchtown, @AlexanderRossi, and @TheTimDurham. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Watch The X22 Report On Video No videos found (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:17532056201798502,size:[0, 0],id:"ld-9437-3289"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");pt> Click On Picture To See Larger PictureTrump started to put all the pieces together starting back in 2017. He was setting the stage to remove NAFTA but he was not able to because congress put roadblocks into the legislation, so he transitioned it into the USMCA and now he has trapped Canada in it. Trade deals are power of the US, the US has the leverage and the [CB] knows it.  The [DS] along with Biden, Obama and Clinton are pushing the insurgency in this country. Walz believes he has the upper hand making a deal with Trump but this is going to backfire on him and Frey. The people in MN are already upset. The D’s believe they can shutdown the government and use the DHS funding to do it. But the OBBB is funding ICE so this is going to fail. Trump has the leverage and he weakening the [DS] every step of the way. The root cause is being exposed to the country.   Economy Big Picture: President Trump and Trade Using the Art of the Self-Fulfilling Prophecy Canada and the EU take trade and economic positions seemingly against U.S. interests. Simultaneously Mexico modifies all their trade positions to come into alignment with the USA. Yesterday, Mexican President Claudia Sheinbaum announced Mexico will no longer ship oil to Cuba.   When President Trump was asked about Prime Minister Mark Carney creating a new trade agreement with China, President Trump responded that he didn't care – it was irrelevant to him.  Yet, simultaneously inside the USMCA President Trump has the power to veto any trade agreement between Mexico or Canada and a non-member nation. So, why didn't President Trump care?  Easy, because in President Trump's mind there's not going to be a USMCA; so, he really doesn't care if Canada runs to violate it.  In real terms, Canada doing bilateral deals with other countries, especially deals potentially detrimental to the USA, only strengthens his position on dissolving the USMCA. If Canada violates the terms and spirit of the USMCA, it makes dispatch of the unliked trade agreement even easier.  Canada is helping President Trump remove the congressional justification they could use to block him.  If Canada is violating the USMCA (CUSMA), Congress is kneecapped from interference. Source: theconservativetreehouse.com (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:18510697282300316,size:[0, 0],id:"ld-8599-9832"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs"); https://twitter.com/Geiger_Capital/status/2015924180160594345?s=20 https://twitter.com/KobeissiLetter/status/2015949123648909631?s=20  more than officially reported. Furthermore, China officially bought an additional 0.9 tonnes in December, pushing the total gold reserves to a record 2,306 tonnes. This also marked the 14th consecutive monthly purchase. In 2025, China's total reported gold purchases reached +27 tonnes. Assuming official purchases were 10% of what China is actually buying, this suggests China acquired +270 tonnes of physical gold in 2025. China is stockpiling gold like we are in a major crisis.    2025. Why hasn’t the Korean Legislature approved it?   Because the Korean Legislature hasn’t enacted our Historic Trade Agreement, which is their prerogative, I am hereby increasing South Korean TARIFFS on Autos, Lumber, Pharma, and all other Reciprocal TARIFFS, from 15% to 25%. Thank you for your attention to this matter!   DONALD J. TRUMP PRESIDENT OF THE UNITED STATES OF AMERICA Political/Rights DOGE https://twitter.com/alx/status/2015969948674203731?s=20 Geopolitical  War/Peace Medical/False Flags [DS] Agenda  https://twitter.com/VASenateGOP/status/2015208669336813823?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E2015208669336813823%7Ctwgr%5E5081d9eb1b9220fa690d082571ec929c4f0248cc%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thegatewaypundit.com%2F2026%2F01%2Fvirginia-democrats-now-seeking-double-their-own-pay%2F   pocket to line their own. TOTAL CON JOB! True. The Department of Justice did withdraw its request for arrest warrants against Don Lemon and four other individuals involved in the disruption of a church service in St. Paul, Minnesota, following a federal magistrate judge’s refusal to approve the related criminal complaints and an appeals court’s rejection of the DOJ’s emergency bid to compel the warrants.  While prosecutors could potentially pursue charges through alternative means, such as a grand jury, the specific action of withdrawing the warrant request aligns with the reported events https://twitter.com/mrddmia/status/2016208255677067439?s=20 https://twitter.com/EricBrakey/status/2015578832070123856?s=20 https://twitter.com/JayTownAlabama/status/2015584436230717786?s=20 According to recent data from the Giffords Law Center, the following 16 jurisdictions (15 states plus the District of Columbia) have explicit prohibitions on carrying firearms at demonstrations, protests, or licensed public gatherings. These restrictions vary by state, with some banning both concealed and open carry, while others target only one or apply under specific conditions (e.g., only for participants or permitted events). Note that laws can change, and some states have exceptions like for enhanced permit holders. State/Jurisdiction Concealed Carry Prohibited? Open Carry Prohibited? Notes Alabama Yes Yes Arkansas Yes No Applies only to participants in permitted demonstrations; enhanced CCW permittees are allowed. California No Yes Open carry banned generally. Connecticut No Yes Open carry banned generally. District of Columbia Yes Yes Florida No Yes Open carry banned generally. Hawaii Yes Yes Illinois Yes Yes Louisiana Yes No Applies to permitted demonstrations or parades. Maryland Yes Yes Mississippi Yes No Applies to permitted demonstrations or parades. Nebraska Yes No Applies at “political rallies” and fundraisers. New Jersey Yes Yes New York Yes Yes North Carolina Yes Yes Washington No Yes   https://twitter.com/EndWokeness/status/2015928285436203305?s=20 https://twitter.com/GuntherEagleman/status/2016211395273011469?s=20  gets disarmed… then shot. DHS is already tracking violent agitators who assault or obstruct officers (you know, felonies). Tom Homan pushing to make these interferers “famous” via database – names, faces, employers notified. The same crowd screaming “police state” will ignore he already assaulted officers once and walked   https://twitter.com/MrAndyNgo/status/2016235731602067586?s=20 https://twitter.com/JoeBiden/status/2016177515845283911?s=20   nation that tramples the 4th Amendment and tolerates our neighbors being terrorized. The people of Minnesota have stood strong — helping community members in unimaginable circumstances, speaking out against injustice when they see it, and holding our government accountable to the people. Minnesotans have reminded us all what it is to be American, and they have suffered enough at the hands of this Administration. Violence and terror have no place in the United States of America, especially when it's our own government targeting American citizens. No single person can destroy what America stands for and believes in, not even a President, if we — all of America — stand up and speak out. We know who we are. It’s time to show the world. More importantly, it’s time to show ourselves. Now, justice requires full, fair, and transparent investigations into the deaths of the two Americans who lost their lives in the city they called home. Jill and I are sending strength to the families and communities who love Alex Pretti and Renee Good as we all mourn their senseless deaths.   https://twitter.com/RyanSaavedra/status/2015985227798139267?s=20 https://twitter.com/JDVance/status/2015918587609772148?s=20 https://twitter.com/EricLDaugh/status/2015971665906110549?s=20 https://twitter.com/BillMelugin_/status/2016220055973855403?s=20     https://twitter.com/Recon1_ZA/status/2015778411650732184?s=20   It’s a rapid, involuntary reaction mediated by the brainstem, involving muscle tension, elevated heart rate, and adrenaline release. That repetitive exposure from them fatigues neural pathways but sustains heightened arousal, diverting cognitive resources from higher-order tasks to basic threat monitoring. It is an acute stressor, activating the hypothalamic-pituitary-adrenal axis and sympathetic nervous system, which releases cortisol and adrenaline. Long exposure to this stuff impairs prefrontal cortex function critical for decision making. Pair this with the sheer annoyance, these tactics are a low-tech escalation of protest disruption, rooted in documented physiological responses to noise. In layman’s terms, they’re putting these officers on edge and triggering them to act. Pretti and Good was exactly what they wanted. It’s usually someone else who ends up dying and not the instigator. This is a great example. Watch the guy at the rear strike an officer against the head with an object. These officers, already on edge, are very likely to react to something like that. When someone ends up getting hurt, they’re all innocent. These events aren’t random. These are organised tactics. 80% of the people protesting aren’t aware that they’re being used by their own team as cannon fodder to generate outrage. https://twitter.com/DataRepublican/status/2015620564787105892?s=20   Tending the Soil on Chuffed. More about Tending the Soil later. What to know: the campaign is hosted by Chuffed and the first donation came from Jonny Soppotiuk, a Canada-based community organizer who is part of Chuffed leadership and specializes in fundraising. He is most likely a central figure in raising money. So, yeah. Starting to look like foreigners are playing a key role in all of this. That’s not all. I’ve put together a spreadsheet of 4000+ donors and their possible identities. https://twitter.com/davidson_f14299/status/2015874164679442499?s=20  Machine that's been running this country for decades. She's tied into the donors, the nonprofits, the consultants, the media networks — all the gears that keep the Machine turning. And look at what she just did. She tweeted out that webpage directing people to donate through a foreign‑operated platform. That's not some innocent little share. That's the Machine signaling to its own network — money pipelines, global partners, and political messaging all moving in sync. She knows exactly what she's amplifying and who benefits from it. And this isn't new for her. Look back at Russiagate. Her campaign funded the Steele dossier — the spark that set off years of investigations, headlines, and division. Even after the whole thing fell apart under scrutiny, the chaos it created was already locked in. That's how the Machine works: it doesn't need accuracy, it just needs momentum. And she's been one of the people who knows how to generate that momentum better than anyone. So where does she sit in the Machine? Right in the core. Not elected. Not accountable. Still pulling levers through the same networks she helped build. She's not operating inside the Machine — she's one of the people who designed the damn thing. And that's why her name keeps showing up. Not because she holds office. But because the Machine still runs on the structures she put in place — and every time she boosts a link, a cause, or a narrative, you can see those old gears turning all over again.  https://twitter.com/julie_kelly2/status/2015963638096429102?s=20 https://twitter.com/WarClandestine/status/2015941282237972649?s=20     President Trump's Plan  And we back you WHOLEHEARTEDLY in making it happen https://twitter.com/TriciaOhio/status/2015939758858371393?s=20   https://twitter.com/EricLDaugh/status/2015858856430055491?s=20   professional. He will continue to lead Customs and Border Patrol throughout and across the country — Mr. Homan will be the main point of contact on the ground in Minneapolis.” Hakeem Jeffries Backs Impeachment Push Against Kristi Noem House Minority Leader Hakeem Jeffries and his leadership team voiced support Tuesday for impeaching Department of Homeland Security (DHS) Secretary Kristi Noem. Nearly 150 House Democrats have sponsored articles of impeachment against Noem, first unveiled by Democratic Illinois Rep. Robin Kelly on Jan. 14, but Jeffries had not previously backed the impeachment push. Jeffries vowed Tuesday that House Democrats will launch impeachment proceedings against Noem if President Donald Trump does not fire her. Source: dailycaller.com https://twitter.com/disclosetv/status/2016203259900317988?s=20   https://twitter.com/amuse/status/2016218361844174956?s=20   Minnesota State Patrol has now been activated. They could have done this the whole time, but it wasn't until after the call between Walz and Trump, and the discovery of the Signal groups involving Minnesota government officials, that this happened.   https://twitter.com/CynicalPublius/status/2015868419187544417?s=20 https://twitter.com/derrickvanorden/status/2015808200495312963?s=20 Counterinsurgency may be defined as ‘comprehensive civilian and military efforts taken to simultaneously defeat and contain insurgency and address its root causes'. Defeat refers to actively dismantling the insurgent group’s capabilities—through kinetic operations (e.g., raids, airstrikes) to kill or capture leaders, disrupt supply lines, and degrade their fighting strength. Contain means preventing the insurgency from spreading or escalating. This could involve securing borders, isolating insurgent areas, or using psychological operations (psyops) to undermine their recruitment and propaganda. The “simultaneously” part stresses that these aren’t sequential steps; they happen in parallel. You can’t just “contain” without addressing threats, nor can you defeat an insurgency if it keeps regenerating in new areas. Key challenge: Insurgents often blend into the civilian population, making it hard to target them without collateral damage, which can create more enemies. 3. Address Its Root Causes Insurgencies don’t arise in a vacuum; they’re often driven by underlying issues like political exclusion, economic inequality, corruption, ethnic tensions, or lack of basic services. The definition insists that long-term success requires tackling these “root causes” to prevent resurgence. This might include reforms such as land redistribution, anti-corruption drives, inclusive governance, or economic development programs. Without this, military victories are temporary. For instance, historical cases like the Malayan Emergency (1948–1960) succeeded partly because British forces combined military action with resettlement programs and political concessions that addressed Malay grievances against colonial rule. Broader Context and Principles Population-Centric Approach: Modern COIN doctrine, influenced by thinkers like David Galula or modern adaptations, views the local population as the “center of gravity.” The goal is to protect civilians, gain their trust, and separate them from insurgents—often summarized as “clear, hold, build” (clear insurgents from an area, hold it securely, and build sustainable institutions). Challenges and Criticisms: COIN is resource-intensive, time-consuming, and politically fraught. It can lead to prolonged conflicts, human rights abuses, or mission creep. Critics argue it sometimes ignores cultural contexts or over-relies on foreign intervention, as seen in Vietnam or Iraq. Success Factors: Effective COIN requires unity of effort (coordination between allies), intelligence-driven operations, and adaptability. Metrics for success go beyond body counts to include governance improvements and reduced violence. In essence, this definition portrays counterinsurgency as a balanced, enduring campaign that blends force with reform to not just suppress rebellion but eliminate the conditions that sustain it.    https://twitter.com/EricLDaugh/status/2015886441063055779?s=20 patriots need all the support they can get!  Background on the “Big Beautiful Bill” and ICE Funding In 2025, Republicans passed the “One Big Beautiful Bill Act” (often referred to by President Trump as the “Big Beautiful Bill”), which allocated approximately $75 billion to Immigration and Customs Enforcement (ICE) over four years. This funding was separate from annual appropriations and effectively tripled ICE’s budget, providing a multi-year “slush fund” for immigration enforcement, including deportations.  This bill was part of Trump’s broader immigration agenda and bypassed traditional yearly funding processes, allowing ICE to operate independently of short-term congressional battles. Current Shutdown Threat and Democrats’ Strategy Democrats, led by figures like Senate Minority Leader Chuck Schumer and Sens. Patty Murray, Chris Murphy, and others, have vowed to block the Department of Homeland Security (DHS) funding bill in the Senate. This bill includes $64.4 billion for DHS overall, with about $10 billion specifically for ICE in the current fiscal year.  Why the Shutdown Won’t Defund ICE Even prominent Democrats like Sen. Murray acknowledge that a shutdown or continuing resolution (short-term funding patch) won’t restrain ICE. The agency can draw from the $75 billion already secured via the Big Beautiful Bill, allowing operations to continue uninterrupted under Trump’s “law-and-order” immigration crackdown.  A shutdown would primarily affect non-ICE parts of DHS (e.g., TSA, FEMA, Coast Guard) and other bundled departments, forcing some federal workers to go without pay while ICE remains funded and operational.  Republican Position and “Upper Hand” The White House and GOP leaders like Speaker Mike Johnson are not yielding, insisting on passing the full package without decoupling DHS funding. They view Democratic threats as ineffective since ICE’s core operations are protected by the prior bill.  The House has already passed the DHS bill with some Democratic support, putting pressure on the Senate. Republicans are framing this as Democrats prioritizing protests over essential services, giving the GOP leverage in negotiations.    https://twitter.com/AwakenedOutlaw/status/2015946190219837842?s=20   themselves, and engage in thoughtful discourse and/or express outrage against the wholesale ridiculousness of not allowing the government to do its job and protect us…and they do so for months on matters that most would never have otherwise engaged in AND would otherwise slip out of the news cycle quickly.    The Supreme Court ends up taking the case and rules (correctly) in favor of his administration. Piece by piece through this process, legal precedence is secured. Which, as it turns out, was deemed necessary to help secure the future of our Republic writ large. Lather. Rinse. Repeat. This implies that we are directly involved in an educational process, if you will, as we all progress through the realignment. Advantage: America’s future https://twitter.com/AGPamBondi/status/2015932965528764622?s=20   violent agitators. The DOJ went to court. We got a temporary stay. NOW, the 8th Circuit has fully agreed that this reckless attempt to undermine law enforcement cannot stand. 8th Circuit Court of Appeals rules in favor of Trump admin allowing ICE agents to arrest, detain, pepper-spray or retaliate against violent anti-ICE rioters, in Minneapolis, without probable cause   (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:13499335648425062,size:[0, 0],id:"ld-7164-1323"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="//cdn2.customads.co/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");

Die Mitarbeiter der US-Einwanderungsbehörde ICE verbreiten in den USA Angst und Schrecken. Sie nehmen Migranten bei Razzien brutal fest - zerren sie aus Autos, werfen sie zu Boden, besprühen sie mit Tränengas. Schon mehrere Tote hat es gegeben. Wer steckt hinter den Masken? Bei der Rekrutierung und Ausbildung ist es schon mehrmals zu Pannen gekommen. Text und Moderation: Caroline Amme Sie haben Fragen? Schreiben Sie eine E-Mail an podcasts@ntv.de Sie möchten "Wieder was gelernt" unterstützen? Dann bewerten Sie den Podcast gerne bei Apple Podcasts oder Spotify. Dieser Podcast wird vermarktet von Julep Media: sales@julep.de

Ben joins us to help recap Hinch -and everyone else's- 2026 24 Hours of Daytona.+++Off Track is part of the SiriusXM Sports Podcast Network. If you enjoyed this episode and want to hear more, please give a 5-star rating and leave a review. Subscribe today wherever you stream your podcasts.Want some Off Track swag? Check out our store!Check out our website, www.askofftrack.comSubscribe to our YouTube Channel.Want some advice? Send your questions in for Ask Alex to AskOffTrack@gmail.comFollow us on Twitter at @askofftrack. Or individually at @Hinchtown, @AlexanderRossi, and @TheTimDurham. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Don't usually need a trigger warning on these, but the first 10ish minutes is a conversation about how big a body of water would have to be for you to get in it if there was a dead body in it. No, we don't know why we talked about that either. After that, we talk about NASCAR changing up its controversial Playoff format, James' IMSA prep for Daytona, Josef's commercial, and more.+++Off Track is part of the SiriusXM Sports Podcast Network. If you enjoyed this episode and want to hear more, please give a 5-star rating and leave a review. Subscribe today wherever you stream your podcasts.Want some Off Track swag? Check out our store!Check out our website, www.askofftrack.comSubscribe to our YouTube Channel.Want some advice? Send your questions in for Ask Alex to AskOffTrack@gmail.comFollow us on Twitter at @askofftrack. Or individually at @Hinchtown, @AlexanderRossi, and @TheTimDurham. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Clayton Anderson took some time off from his absurdly busy schedule around the IU Championship game in Miami to come on and chat with Hinch and Rossi, going into what this win means for IU, and what his journey through the music industry has been like. Also, he has a bar downtown, couldn't figure out how to bring that up organically in the show notes, but go check it out. And, if you want to know more about Clayton, check out his website!+++Off Track is part of the SiriusXM Sports Podcast Network. If you enjoyed this episode and want to hear more, please give a 5-star rating and leave a review. Subscribe today wherever you stream your podcasts.Want some Off Track swag? Check out our store!Check out our website, www.askofftrack.comSubscribe to our YouTube Channel.Want some advice? Send your questions in for Ask Alex to AskOffTrack@gmail.comFollow us on Twitter at @askofftrack. Or individually at @Hinchtown, @AlexanderRossi, and @TheTimDurham. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Our Head of Research Product in Europe Paul Walsh and Chief European Equity Strategist Marina Zavolock break down the main themes for European stocks this year. Read more insights from Morgan Stanley.----- Transcript -----Paul Walsh: Welcome to Thoughts on the Market. I'm Paul Walsh, Morgan Stanley's Head of Research Product here in Europe.Marina Zavolock: And I'm Marina Zavolock, Chief European Equity Strategist.Paul Walsh: Today, we are here to talk about the big debates for European equities moving into 2026.It's Friday, January the 16th at 8am in London.Marina, it's great to have you on Thoughts on the Market. I think we've got a fascinating year ahead of us, and there are plenty of big debates to be exploring here in Europe. But let's kick it off with the, sort of, obvious comparison to the U.S.How are you thinking about European equities versus the U.S. right now? When we cast our eyes back to last year, we had this surprising outperformance. Could that repeat?Marina Zavolock: Yeah, the biggest debate of all Paul, that's what you start with. So, actually it's not just last year. If you look since U.S. elections, I think it would surprise most people to know that if you compare in constant currency terms; so if you look in dollar terms or if you look in Euro terms, European equities have outperformed U.S. equities since US elections. I don't think that's something that a lot of people really think about as a fact.And something very interesting has happened at the start of this year. And let me set the scene before I tell you what that is.In the last 10 years, European equities have been in this constantly widening discount range versus the U.S. on valuation. So next one's P/E there's been, you know, we have tactical rallies from time to time; but in the last 10 years, they've always been tactical. But we're in this downward structural range where their discount just keeps going wider and wider and wider. And what's happened on December 31st is that for the first time in 10 years, European equities have broken the top of that discount range now consistently since December 31st. I've lost count of how many trading days that is. So about two weeks, we've broken the top of that discount range. And when you look at long-term history, that's happened a number of times before. And every time that happens, you start to go into an upward range.So, the discount is narrowing and narrowing; not in a straight line, in a range. But the discount narrows over time. The last couple of times that's happened, in the last 20 years, over time you narrow all the way to single digit discount rather than what we have right now in like-for-like terms of 23 percent.Paul Walsh: Yeah, so there's a significant discount. Now, obviously it's great that we are seeing increased inflows into European equities. So far this year, the performance at an index level has been pretty robust. We've just talked about the relative positioning of Europe versus the U.S.; and the perhaps not widely understood local currency outperformance of Europe versus the U.S. last year. But do you think this is a phenomenon that's sustainable? Or are we looking at, sort of, purely a Q1 phenomenon?Marina Zavolock: Yeah, it's a really good question and you make a good point on flows, which I forgot to mention. Which is that, last year in [Q1] we saw this really big diversification flow theme where investors were looking to reduce exposure in the U.S., add exposure to Europe – for a number of reasons that I won't go into.And we're seeing deja vu with that now, mostly on the – not really reducing that much in U.S., but more so, diversifying into Europe. And the feedback I get when speaking to investors is that the U.S. is so big, so concentrated and there's this trend of broadening in the U.S. that's happening; and that broadening is impacting Europe as well.Because if you're thinking about, ‘Okay, what do I invest in outside of seven stocks in the U.S.?' You're also thinking about, ‘Okay, but Europe has discounts and maybe I should look at those European companies as well.' That's exactly what's happening. So, diversification flows are sharply going up, in the last month or two in European equities coming into this year.And it's a very good question of whether this is just a [Q1] phenomenon. [Be]cause that's exactly what it was last year. I still struggle to see European equities outperforming the U.S. over the course of the full year because we're going to come into earnings now.We have much lower earnings growth at a headline level than the U.S. I have 4 percent earnings growth forecast. That's driven by some specific sectors. It's, you know, you have pockets of very high growth. But still at a headline level, we have 4 percent earnings growth on our base case. Consensus is too high in our view. And our U.S. equity strategists, they have 17 percent earnings growth, so we can't compete.Paul Walsh That's a very stark difference.Marina Zavolock: Yeah, we cannot compete with that. But what I will say is that historically when you've had these breakouts, you don't get out performance really. But what you get is a much narrower gap in performance. And I also think if you pick the right pockets within Europe, then you could; you can get out performance.Paul Walsh: So, something you and I talked about a lot in 2025, is the bull case for Europe. There are a number of themes and secular dynamics that could play out, frankly, to the benefits of Europe, and there are a number of them. I wondered if you could highlight the ones that you think are most important in terms of the bull case for Europe.Marina Zavolock: I think the most important one is AI adoption. We and our team, we have been able to quantify this. So, when we take our global AI mapping and we look at leading AI adopters in Europe, which is about a quarter of the index, they are showing very strong earnings and returns outperformance. Not just versus the European index, but versus their respective sectors. And versus their respective sectors, that gap of earnings outperformance is growing and becoming more meaningful every time that we update our own chart.To the point that I think at this rate, by the second half of this year, it's going to grow to a point that it's more difficult for investors to ignore. That group of stocks, first of all, they trade again at a big discount to U.S. equivalent – 27 percent discount. Also, if you see adoption broadening overall, and we start to go into the phase of the AI cycle where adopters are, you know, are being sought after and are seen as in the front line of beneficiaries of AI. It's important to remember Europe; the European index because we don't have a lot of enablers in our index. It is very skewed to AI adopters. And then we also have a lot of low hanging fruit given productivity demographic challenges that AI can help to address. So that's the biggest one.Paul Walsh: Understood.Marina Zavolock: And the one I've spent most time on. But let me quickly mention a few others. M&A, we're seeing it rising in Europe, almost as sharply as we're seeing in the U.S. Again, I think there's low hanging fruit there. We're seeing easing competition commission rules, which has been an ongoing thing, but you know, that comes after decade of not seeing that. We're seeing corporate re-leveraging off of lows. Both of these things are still very far from cycle peaks. And we're seeing structural drivers, which for example, savings and investment union, which is multifaceted. I won't get into it. But that could really present a bull case.Paul Walsh: Yeah. And that could include pensions reform across Europe, particularly in Germany, deeper capital…Marina Zavolock: We're starting to see it.Paul Walsh: And in Europe as well, yeah. And so just going back to the base case, what are you advocating to clients in terms of what do we buy here in Europe, given the backdrop that you've framed?Marina Zavolock: Within Europe, I get asked a lot whether investors should be investing in cyclicals or value. Last year value really worked, or quality – maybe they will return. I think it's not really about any of those things. I think, similar to prior years, what we're going to see is stock level dispersion continuing to rise. That's what we keep seeing every month, every quarter, every year – for the last couple of years, we're seeing dispersion rising.Again, we're still far from where we normally get to, when we get to cycle peaks. So, Europe is really about stock picking. And the best way that we have at Morgan Stanley to capture this alpha under the surface of the European index. And the growth that we have under the surface of the index, is our analyst top picks – which are showing fairly consistent outperformance, not just versus the European index, but also versus the S&P. And since inception of top picks in 2021, European top picks have outperformed the S&P free float market cap weighted by over 90 percentage points. And they've outperformed, the S&P – this is pre-trade – by 17 percentage points in the last year. And whatever period we slice, we're seeing out performance.As far as sectors, key sectors, Banks is at the very top of our model. It's the first sector that non-dedicated investors ask me about. I think the investment case there is very compelling. Defense, we really like structurally with the rearmament theme in Europe, but it's also helpful that we're in this seasonal phase where defense tends to really outperform between; and have outsized returns between January and April. And then we like the powering AI thematic, and we are getting a lot of incoming on the powering AI thematic in Europe. We upgraded utilities recently.Paul, maybe if I ask you a question, one sector that I've missed out on, in our data-driven sector model, is the semis. But you've worked a lot with our semi's team who are quite constructive. Can you tell us about the investment case there?Paul Walsh: Yeah, they're quite constructive, but I would say there's nuance within the context of the sector. I think what they really like is the semi cap space, which they think is really well underpinned by a robust, global outlook for wafer fab equipment spend, which we see growing double digits globally in both 2026 and 2027.And I think within that, in particular, the outlook for memory. You have something of a memory supercycle going on at the moment. And the outlook for memory is especially encouraging. And it's a market where we see it as being increasingly capacity constrained with an unusually long order book visibility today, driven really by AI inference. So strong thematic overlay there as well.And maybe I would highlight one other key area of growth longer term for the space, which is set to come from the proliferation of humanoid robots. That's a key theme for us in 2025. And of course, we'll continue to be so, in the years to come. And we are modeling a global Humanoids Semicon TAM of over $300 billion by 2045, with key pillars of opportunity for the semi names to be able to capitalize on. So, I think those are two areas where, in particular, the team have seen some great opportunities.Now bringing it back to the other side of the equation, Marina, which sectors would you be avoiding, within the context of your model?Marina Zavolock: There's a collection of sectors and they, for the most part, are the culprits for the low growth that we have in Europe. So simply avoiding these could be very helpful from a growth perspective, to add to that multiple expansion. These are at the bottom of our data driven, sector models. So, these are Autos, Chemicals, Luxury Transport, Food and Beverage.Most of these are old economy cyclicals. Many of these sectors have high China/old economy exposure – as well where we're not seeing really a demand pickup. And then lastly, a number of these sectors are facing ever rising China competition.Paul Walsh: And I think, when we weigh up the skew of your views according to your model, I think it brings it back to the original big debate around cyclicals versus defensives. And your conclusion that actually it's much more complicated than that.Marina, thanks for taking the time to talk.Marina Zavolock: Great to speak with you Paul.Paul Walsh: And thanks for listening. If you enjoy Thoughts on the Market, please leave us a review wherever you listen and share the podcast with a friend or colleague today.