In short: Passing mention — one of the retail sites Muse searches when asked to shop.
10:30See, up until now, when you ask Muse to shop for something, he'll actually open up his own browser and he'll start searching the web. He'll search on Shopify websites. He'll search on Lowe's or Home Depot or Target or Walmart or Sam's Club or wherever. It'll just search like a normal human would, but it does it a lot more passively because you're not wasting your time doing it.
In short: Passing mention — #2 on the same slide, at 21.3%/yr. No view.
In short: A held name its owner is candid about. Simpson, on a frozen housing market: "how can they [do better] with rates where they are? Maybe this little pullback in the long end will help a little, but I don't think so. If we talk about dead money — which we do often with Netflix, and I disagree with that comment — I think Home Depot might be more dead money. We own it, we're investors in this, and when it turns around they will be beneficiaries." On the print itself he's positive: "the numbers were good. They exceeded my expectations. The pro side was fantastic. They did not lower guide. I thought it was better than what we saw out of Lowe's today. But as we all know, Home Depot trades at a much higher multiple than Lowe's does — so whatever these reactions are, they're tepid, they're short term. If you're an investor in either one you're looking a lot longer term than the next couple of weeks."
An unusually frank assessment from a holder. Simpson thought the quarter was good — results beat his expectations, the professional-contractor business was excellent, and management did not cut guidance, which he judged better than Lowe's did the same day.
But he expects the stock to go nowhere for a while, and says so: with mortgage rates where they are the housing market is frozen, people are not moving, and people who do not move do not renovate. He calls it "more dead money" than Netflix, the desk's usual example of a stock stuck in a range.
His conclusion is a holding rather than a buying case: own it for the eventual turn, because when rates finally come down Home Depot benefits — but be aware you are paying a much higher multiple of earnings than for Lowe's, and none of this resolves in the next few weeks.
In short: The other named drop-out — twentieth at $85.98bn in December 2005 — and, like Coca-Cola, described as "still exceptional" despite leaving the list. New to this archive; no view is offered.
In short: "Home Depot stock's off 27%" — housing frozen by rates; the K-shaped-economy casualty (with restaurants and Capital One) showing the real economy weakening even as the industrial/AI-capex boom looks great on paper.
34:41Yeah, and when yield goes higher, it means price is going down. Price is going down. It's just one-on-one. So there's some things that make, like this K-shaped economy. Look at Home Depot. Home Depot stock's like off 27%. Housing, housing's interest rates. It just can't move. Yeah. But it's restaurants, like the restaurants index versus the S&P is the biggest divergence ever. So let's not pretend that — I think what's happening is we're in an industrial boom, like it's two economies. You have this massive capex industrial boom that looks really good when you look at the paper or you look at on the internet and you see this, wow, the economy is booming, but then when you look at the restaurants or you look
In short: Almost 30% off, with ~50% of its suppliers down 20–40% — the bottom 60% of consumers are in real pain while tech parties like 1999.
Home Depot is down almost 30%, and by his Bloomberg screen about half its suppliers are down 20–40%. It's his evidence that the bottom 60% of consumers — who are now only 10–15% of total consumption — are in real pain from sticky inflation, even while the tech side of the market parties.
16:38But the bottom 60% of consumers are in a lot of pain and that's why you're seeing these wacky divergences. Restaurants getting really hammered this year. Same thing on the next chart with Home Depot. I mean, Home Depot almost 30% off. Think of these brands. Lowe's, Home Depot, McDonald's, all these stocks are essentially close to 19 to 20% off.
In short: Down ~30%, with its suppliers down 10–40% — the retail/consumer side of the economy "in flames."
Home Depot is the home-improvement retailer, down about 30%, with its suppliers down 10–40%. He cites it as evidence the consumer/retail side of the economy is "in flames" — a sharp contrast with the booming AI/tech side and the high-end spenders.
6:34And so so this is like a rubber band stretching. It's a lot like just before CO just before CO the market went up every single day Danny in February of 2020 even though off the shore coming on shore was this really nasty storm and everyone was hiding out everyone was hiding out in tech and it's the same thing today it's perceived as the safe trade because there's a lot of pain in Home Depot 30% off mic McDonald's and go on and on and on the retailers.
In short: Down 26% off the highs; ~40 of its suppliers down 20–40% — the "wounded consumer" rolling over under the oil/gas inflation bounce.
Home Depot is the big home-improvement retailer — a direct read on consumer health. It's down 26% from its highs, and about 40 of its suppliers are down 20–40%.
He uses it to show the "wounded consumer" beneath the record stock indices: with gas at the pump up ~50% and the gas commodity up ~120%, household budgets are squeezed, and consumer-facing stocks are quietly rolling over even as the headline market looks fine.
6:35So this move was really orchestrated by a lot of very clever financial engineering. And that's why, if you look behind the scenes, like if you look at new lows or if you just look at the market breadth, you got Home Depot that's down 26% off the highs, McDonald's, Darden Restaurants, they're all rolling over.
In short: Lynch's #1 investment, cited as a case study. "Lynch spotted Home Depot early in his career. The company had strong management and was quickly adding stores. These were clear signs of long-term growth potential." A return of over 600%, and the one entry with a durable epilogue — "Since his retirement, the stock kept doing well." No current view offered.
Home Depot is the largest home-improvement retailer in the US, selling to both homeowners and building trades. Lynch bought it early on the simplest possible observation — good management, and new stores opening fast — and made over 600%.
It earns its place as the counterweight to the Fannie Mae story. Of Lynch's five famous winners, this is the only one that kept compounding long after he sold: "Since his retirement, the stock kept doing well." No valuation or current view is offered here; the point being made is about the durability of the underlying business, not about the price today.
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Verbatim excerpts from the public transcripts (auto-pulled at each mention's timestamp, lightly cleaned). Timestamps link into the video; "source page" opens that commentator's full analysis at this row. Click a mention's header line to expand it (one open at a time). For personal study — not investment advice.