361Firm Briefing 260 "Investing & Uncertainty (April 1, 2025)

Stephen Burke discussed the current economic uncertainty, noting a potential double bottom in the US market and the impact of global trade fragmentation. He highlighted the rise in defense spending globally, including in the US, Europe, and China, and the challenges of developing new defense programs. Energy demand is increasing, with a 2.2% growth in 2024. Infrastructure needs in the US are significant, with a $3.7 trillion gap by 2033. The discussion also covered the impact of tariffs on inflation, the rule of law, and the potential for recession due to policy uncertainties. Issues & Risks Uncertainty in global trade and tariffs Potential for stagflation Challenges in defense spending and program effectiveness Increased energy demand and its impact Infrastructure needs and funding gaps Concerns about the U.S. upholding the rule of law Potential impact on U.S. exceptionalism and global leadership Next steps Stephen Burke mentioned an upcoming Zoom call on April 22nd with Dr. Ed Yardeni to discuss Trump's first 90 days and economic outlook Mark Sanor mentioned several upcoming events, including one in Vegas, a Palo Alto event with Eric Schmidt speaking, and events in Riyadh, DC, and Seattle Questions discussed "Have we reached max uncertainty?" "What can the administration be doing that it's not doing to avert, avoid, slow down and decimate or extinguish rising costs?" "Do you see any policies in this administration that is second Trump, big spending administration? Do you see any policies whatsoever that would lead to deficit reaction reduction?" "What do you think about this idea that is the US, not opportunity for all?" Timeline April 22nd: Zoom call with Dr. Ed Yardeni to discuss Trump's first 90 days and economic outlook June 16-18: Upcoming event mentioned by Mark Sanor, described as potentially one of their best events 2029: IMF projection for global GDP to reach 130-140 trillion dollars You can subscribe to various 361 events and content at https://361firm.com/subs. For reference: Web: www.361firm.com/homeOnboard as Investor: https://361.pub/shortdiagOnboard Deals 361: www.361firm.com/onbOnboard as Banker: www.361firm.com/bankersEvents: www.361firm.com/eventsContent: www.youtube.com/361firmWeekly Digests: www.361firm.com/digest