Why Valuations Don't Matter

This Week on The Compound

August 03, 2025

This Week on The Compound

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This week on TCAF, Josh and Michael were joined by returning guest Adam Parker, CEO and Founder at Trivariate Research. They discussed earnings season, the Fed holding steady, R&D spending in big tech, and much more. (Listen)

ECONOMIC DATA

Markets run on data: economic, financial, and the like. Even before Friday (see Sam Ro), there were questions about the quality of economic data in the U.S. and elsewhere. We need more (and better) data in the AI age, not less. Danny Crichton at Riskgaming earlier this week wrote:

Statistics, like indicators for any organization, are the means by which leaders evaluate the outcomes of their decisions. With a shrinking set of increasingly unreliable metrics, countries are impoverishing their own ability to make the right calls at critical moments of uncertainty. Quality statistical collection and analysis will never get the same airtime as a sex scandal, but they are the kernel for high-quality and effective governance. The ultimate costs for dereliction here are, unsurprisingly, incalculable.

Danny Crichton

CHART OF THE WEEK

Prior TCAF guest Matt Cerminaro recently launched a newsletter. One of the first posts has this chart highlighting the growing impact of the stock market on household wealth. Sign up today to get more charts like this in your inbox.

MERCH

Summer is running out, but there is still time to grab a summer Animal Spirits t-shirt. Check it out and lots more dope merch at idontshop.com.

COMING SOON

This week on TCAF, Josh and Michael will be joined by returning guest Sam Ro of TKer fame and Luke Kawa, Markets Editor at Sherwood News.

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