Subtitles section
Repeat sentence
Subtitles mode
Full screen
Previous
Next
x 1.0
Playback speed
More

Treasury Partners' Saperstein makes bearish case for the market, the fundamentals are deteriorating

Video vocabulary

cash

Copy vocabulary

US / kæʃ /

UK / kæʃ /

A2
  • noun
  • Physical money (not credit card or digital)
  • verb
  • To sell or give something to get money

expect

Copy vocabulary

US / ɪk'spekt /

UK / ɪkˈspɛkt /

A1
  • verb
  • To believe something is probably going to happen

lend

Copy vocabulary

US / lend /

UK / lɛnd /

A2
  • verb
  • To let someone borrow something for a while
  • To give help or support to someone in need

weight

Copy vocabulary

US / weɪt /

UK / wet /

A2
  • noun
  • How heavy something is
  • Metal object to measure how heavy something is
  • Importance, power, and influence person, thing has
  • A source of worry, sadness, or emotional stress

willingness

Copy vocabulary

US / 'wɪlɪŋnəs /

UK / ˈwɪlɪŋnɪs /

A2
  • noun
  • Cheerful agreement to do something

deal

Copy vocabulary

US / di:l /

UK / dil /

A1
  • verb
  • To cope with something - usually troubles
  • To give (something bad e.g. news) to
  • To buy and sell illegal drugs
  • To give out (cards, etc.) to; distribute
  • To do business with someone or to sell products

equal

Copy vocabulary

US / 'i:kwəl /

UK / ˈikwəl /

A1
  • adjecitve
  • Same in shape, size, or number
  • verb
  • To add up or be the same as

now

Copy vocabulary

US / naʊ /

UK / naʊ /

A1
  • adverb
  • At the present time or moment
  • Right away or in the next possible moment
  • Used to refer to something that just happened
  • Time between the present and a moment in the past
  • conjunction
  • Resulting from or because of something

portfolio

Copy vocabulary

US / pɔ:t'fəʊlɪəʊ /

UK / pɔrtˈfoliˌo, port- /

B1
  • noun
  • A list of the financial assets held by someone
  • List of work submitted to a teacher/for approval

september

Copy vocabulary

US / sepˈtembə(r) /

UK / sɛpˈtɛmbɚ /

A1
  • noun
  • 9th month of the year

credit

Copy vocabulary

US / 'kredɪt /

UK / ˈkrɛdɪt /

A2
  • adjecitve
  • Having a positive amount of money
  • noun
  • System to buy something and pay for it later
  • Points earned instead of money
  • Quality of having a good reputation for a reason
  • Points earned towards a university degree
  • verb
  • To add a certain amount of money to a total
  • To recognize someone's achievements or help

resolve

Copy vocabulary

US / rɪ'zɒlv /

UK / rɪˈzɑlv /

B1
  • verb
  • To make a decision to do something
  • To find an answer, solution to a problem/ question
  • To change gradually into a different form
  • To decide to try to do something
  • To change into something, other parts, etc.

become

Copy vocabulary

US / bɪ'kʌm /

UK / bɪˈkʌm /

A1
  • verb
  • To begin to be; grow to be; develop into
  • To be suitable for a particular job or role

slow

Copy vocabulary

US / sləʊ /

UK / sloʊ /

A1
  • adjecitve
  • Lacking activity, busyness or excitement
  • (Clock) showing time earlier than the actual time
  • Having difficulty understanding simple things
  • Moving or happening without speed; not fast
  • verb
  • To move, with less speed than before
  • To move or go without much speed

powell

Copy vocabulary

US / ˈpəʊltri /

UK / ˈpoʊltri /

A1

availability

Copy vocabulary

US / əˌveɪlə'bɪlətɪ /

UK / əˌveləˈbɪlətɪ /

A2
  • noun
  • Being present and able to be used

maybe

Copy vocabulary

US / ˈmeɪbi /

UK / ˈmebi /

A1
  • adverb
  • Possibly but not certainly; perhaps

our

Copy vocabulary

US / 'aʊə(r) /

UK / aʊr /

A1
  • determiner
  • Belonging to us

not

Copy vocabulary

US / nɒt /

UK / nɑt /

A1
  • adverb
  • Word indicating the negative
  • (Used to form the negative of verbs)

but

Copy vocabulary

US / bət /

UK / bʌt,bət /

A1
  • conjunction
  • Used before you say something different, opposite

especially

Copy vocabulary

US / ɪˈspeʃəli /

UK / ɛˈspɛʃəli, ɪˈspɛʃ- /

A1
  • adverb
  • More than usual; extremely

good

Copy vocabulary

US / ɡʊd /

UK / ɡʊd /

A1
  • adjecitve
  • Proper, appropriate or right
  • (Of an amount) enough; plenty
  • Excellent; high quality
  • Acting well or properly; of moral character
  • In a positive or happy emotional state
  • noun
  • Advantage or benefit

tape

Copy vocabulary

US / teɪp /

UK / tep /

A2
  • noun
  • Narrow strip of magnetic material for recording on
  • Thin material used to mark an area or seal things
  • verb
  • To record some sounds using an electric device
  • To stick things together using an adhesive strip

resilient

Copy vocabulary

US / rɪ'zɪlɪənt /

UK / rɪˈzɪljənt /

B2
  • adjecitve
  • Recovering quickly from something bad

really

Copy vocabulary

US / ˈri:əli /

UK / ˈriəˌli, ˈrili /

A1
  • adverb
  • Used to stress something that is said; definitely
  • In a true or accurate manner
  • Very

would

Copy vocabulary

US / wʊd /

UK / wʊd /

A1
  • other
  • Used to indicate something imagined
  • Used to ask or request something politely
  • Verb used to indicate possibility, request etc.
  • Used to indicate a preference
  • Used to indicate a reaction
  • Indicates something that occurred repeatedly
  • Used to indicate willingness or ability to do

negative

Copy vocabulary

US / 'neɡətɪv /

UK / ˈnɛɡətɪv /

A2
  • adjecitve
  • Being harmful, unwanted or unhelpful
  • In mathematics, being less than zero
  • Focusing on the bad aspects; pessimistic
  • noun
  • The opposite to a positive electrical charge
  • In grammar, containing words such as 'no' or 'not'
  • Reply to a question or statement that means 'no'
  • Image on camera film used to make a photo

quantitative

Copy vocabulary

US / ˈkwɒntɪtətɪv /

UK / ˈkwɑ:ntəteɪtɪv /

A2
  • adjecitve
  • Describing or measuring the amount of

see

Copy vocabulary

US / si: /

UK / si /

A1
  • verb
  • To go on a date with someone
  • To predict whether something is, or will be true
  • To understand what someone says
  • To use your eyes to look at something
  • To visit a place often for sightseeing or pleasure
  • To visit or meet with someone
  • To find out by waiting or looking
  • To watch (a game, movie or TV show)

spending

Copy vocabulary

US / ˈspendɪŋ /

UK / ˈspɛndɪŋ /

A2
  • verb
  • To use money to pay for something
  • To use time in order to do something
  • To use up something completely

tech

Copy vocabulary

US / tek /

UK / tɛk /

A2
  • noun
  • Shortened form of 'technology' or 'technician'

with

Copy vocabulary

US / wɪð /

UK / wɪð, wɪθ /

A1
  • preposition
  • As an employee of a certain company
  • Against something or someone
  • By using something as a means
  • Due to; because of
  • Including
  • Possessing as a feature
  • Related to
  • (Of the manner/attitude by which you do something)
  • Used to express that people or things are together

adviser

Copy vocabulary

US / ədˈvaɪzə(r) /

UK / ædˈvaɪzɚ /

A2
  • noun
  • Someone giving advice in business, law etc.

economic

Copy vocabulary

US / ˌi:kəˈnɒmɪk /

UK / ˌɛkəˈnɑmɪk, ˌikə- /

A2
  • adjecitve
  • Concerning trade, industry, and money

mind

Copy vocabulary

US / maɪnd /

UK / maɪnd /

A1
  • noun
  • One's opinion or way of thinking about something
  • Part of humans that allows us to think or feel
  • verb
  • To be bothered or upset by something
  • To take care of someone e.g. as a bodyguard

raise

Copy vocabulary

US / reɪz /

UK / rez /

A1
  • noun
  • Increase in a bet above another when playing cards
  • Pay increase
  • verb
  • To increase a bet above another when playing cards
  • To gather donations for a cause or charity
  • To bring up and educate a child to maturity
  • To bring a dead person to life
  • To increase a quantity, size, intensity or price
  • To lift (e.g. your hand) to a higher position
  • To mention a topic /issue for discussion; bring up
  • To increase (salary, etc.)
  • To grow or care for plants or animals

problem

Copy vocabulary

US / ˈprɒbləm /

UK / ˈprɑbləm /

A1
  • adjecitve
  • Causing trouble
  • noun
  • Something difficult to deal with or causes trouble
  • Question to show understanding of a math concept

bearish

Copy vocabulary

US / ˈbeərɪʃ /

UK / ˈberɪʃ /

C2
  • adjecitve
  • Expecting prices of the stock market to fall

know

Copy vocabulary

US / nəʊ /

UK / noʊ /

A1
  • verb
  • To be familiar with a person or place, thing
  • To feel sure or be convinced about something
  • To discover or be aware of something
  • To be able to distinguish
  • To have knowledge of things

moment

Copy vocabulary

US / 'məʊmənt /

UK / 'moʊmənt /

A1
  • noun
  • Very short or brief period of time
  • A particular period in time

extra

Copy vocabulary

US / 'ekstrə /

UK / 'ekstrə /

A2
  • adjecitve
  • More than necessary; additional
  • noun
  • Items more than you need; additional items
  • Person who has a small part in a movie
  • Special version of a newspaper

have

Copy vocabulary

US / həv /

UK / hæv /

A1
  • verb
  • To drink, smoke, eat or use something
  • To experience the effects of something
  • To organize an event, or join in an activity
  • To own, possess, or hold something
  • To cause to happen or produce a particular effect

last

Copy vocabulary

US / lɑ:st /

UK / læst /

A1
  • adjecitve
  • Most recent; the latest
  • The one before
  • adverb
  • Final; with nothing following; after all others
  • Most recent; the latest
  • determiner
  • The one at the end
  • verb
  • To remain or continue for a certain period of time

part

Copy vocabulary

US / pɑ:t /

UK / pɑ:rt /

A1
  • adjecitve
  • To some degree; half; not fully
  • noun
  • Division of a book
  • Ratio of something, e.g. 3 of gin, 1 of tonic
  • A line in a person's hair, made with a comb
  • Character an actor plays on stage, movie, or TV
  • Some, but not all of a specific thing
  • Role in causing something to happen
  • verb
  • To make a line in a person's hair, by using a comb
  • To move two things apart creating a space
  • To leave someone, or to break off a relationship

six

Copy vocabulary

US / sɪks /

UK / sɪks /

A1
  • number
  • 6

away

Copy vocabulary

US / ə'weɪ /

UK / əˈwe /

A1
  • adjecitve
  • Not present
  • adverb
  • Disappear completely
  • Doing something with a lot of energy
  • Not here; far from here; in a different direction
  • To a different area, location

estimate

Copy vocabulary

US / 'estɪmət /

UK / ˈɛstəˌmet /

A2
  • noun
  • Guess or calculation of cost, size or value
  • verb
  • To guess or calculate the cost, size or value of

fundamental

Copy vocabulary

US / ˌfʌndəˈmentl /

UK / ˌfʌndəˈmɛntl /

A2
  • adjecitve
  • Forming a necessary part, base, or core
  • noun
  • A basic part of something
  • (Music) the lowest note in a harmony

month

Copy vocabulary

US / mʌnθ /

UK / mʌnθ /

A1
  • noun
  • One of 12 28-31 day periods in the year

where

Copy vocabulary

US / hwɛə /

UK / hwɛr, wɛr /

A1
  • conjunction
  • At or in the place which
  • In whatever place
  • pronoun
  • Word you use to ask the location of something

and

Copy vocabulary

US / ənd /

UK / ənd, ən,ænd /

A1
  • conjunction
  • Used to refer to two or more things
  • Plus; in addition; on top of that
  • Used to introduce an action that follows another

back

Copy vocabulary

US / bæk /

UK / bæk /

A1
  • adjecitve
  • Farthest from the front e.g. in a classroom
  • adverb
  • Have returned to a place you were before
  • noun
  • The part of a chair that the upper body leans upon
  • Location at the rear of something
  • The reverse of side something
  • Area on the rear of your body
  • verb
  • To bet money on something
  • To go backwards in a car
  • To support and encourage someone or some cause

lot

Copy vocabulary

US / lɒt /

UK / lɑt /

A1
  • noun
  • What happens to a person in life from chance; fate
  • A group of people seen together
  • Item for sale at an auction
  • Small area of land used for a purpose e.g. parking

money

Copy vocabulary

US / 'mʌnɪ /

UK / ˈmʌni /

A1
  • noun
  • Coins or notes we use to pay for things

any

Copy vocabulary

US / 'enɪ /

UK / ˈɛni /

A1
  • adjecitve
  • One, or some, no matter which
  • pronoun
  • One (thing) of many; some

come

Copy vocabulary

US / kʌm /

UK / kʌm /

A1
  • verb
  • To arrive at a place
  • (Of mail) to be delivered
  • To move toward someone; go with someone
  • To reach a certain point or state

think

Copy vocabulary

US / θɪŋk /

UK / θɪŋk /

A1
  • verb
  • To have an idea about something without certainty
  • To have an idea, opinion or belief about something

out

Copy vocabulary

US / aʊt /

UK / aʊt /

A1
  • adverb
  • No longer stylish (e.g. fashion)
  • Away from home, business, or the usual place
  • In a direction/movement away from inside or center
  • noun
  • Act when a batter cannot continue playing
  • verb
  • To tell people a secret

share

Copy vocabulary

US / ʃeə(r) /

UK / ʃɛr /

A2
  • noun
  • Part-ownership in a property, business or company
  • Part of a company you own, shown by a certificate
  • verb
  • To divide something between two or more people
  • To allow others to use your things equally
  • To give information, etc. to someone

flat

Copy vocabulary

US / flæt /

UK / flæt /

A2
  • adjecitve
  • Level; even; without curves or bumps
  • Lifeless; lacking energy or vitality
  • adverb
  • In a certain, direct or absolute manner
  • Against a surface without lifting or curving away
  • noun
  • Apartment; set of rooms for living in
  • The smooth or level part of something
  • Musical tone lower than another by a small degree
  • verb
  • To share an apartment with someone

large

Copy vocabulary

US / lɑ:dʒ /

UK / lɑ:rdʒ /

A1
  • adjecitve
  • Big; of great size; broad, tall, wide, or fat

ease

Copy vocabulary

US / i:z /

UK / iz /

A2
  • noun
  • State of being comfortable or relaxed
  • verb
  • To make something less difficult, tight, stressed
  • To move slowly and purposely to get in small space

issue

Copy vocabulary

US / 'ɪʃu: /

UK / ˈɪʃu /

A2
  • noun
  • Important topic discussed, debated or argued over
  • Single edition of a magazine
  • verb
  • To make something available to be used or sold
  • To deliver a statement, etc. in an official manner

real

Copy vocabulary

US / rɪəl /

UK / ˈriəl, ril /

A1
  • adjecitve
  • Actually existing or happening, not imagined
  • Being important or special

retail

Copy vocabulary

US / 'ri:teɪl /

UK / ˈriˌtel /

C1
  • adjecitve
  • Concerning the selling of goods to the public
  • adverb
  • Bought or sold in a store or shop
  • noun
  • Business of selling products to the public
  • verb
  • To sell at a particular price

tighten

Copy vocabulary

US / ˈtaɪtn /

UK / ˈtaɪtn: /

A2
  • verb
  • To make a rule, law or system tougher
  • To stretch, pull until movement becomes difficult
  • To turn lid, bolt etc., until it is firmly in place
  • To make face, body stiff due to anger or anxiety

cite

Copy vocabulary

US / saɪt /

UK / saɪt /

B1
  • verb
  • To officially order someone to appear in court
  • To officially praise someone, e.g. for bravery
  • To reference the work of others in your writing

employment

Copy vocabulary

US / ɪmˈplɔɪmənt /

UK / ɛmˈplɔɪmənt /

A2
  • adjecitve
  • Concerning the number of people who are in work
  • noun
  • The state of being in work or having a job

two

Copy vocabulary

US / tu: /

UK / tu /

A1
  • number
  • 2

keep

Copy vocabulary

US / ki:p /

UK / kip /

A1
  • noun
  • Large, strong tower in the middle of a castle
  • Money spent on you so you can live in a place
  • verb
  • To continue doing something; not to stop
  • To stop balls going in a goal in sports
  • To not give back or return something
  • (Of food) to not spoil or not rot
  • To take possession of something to own, e.g. a pet
  • To have and continue to hold something
  • To do something that you have promised or agreed
  • To stay in a certain place or condition
  • To maintain the rules

rather

Copy vocabulary

US / 'rɑ:ðə(r) /

UK / ˈræðɚ, ˈrɑðɚ /

A1
  • adverb
  • Somewhat; fairly; not that much

tell

Copy vocabulary

US / tel /

UK / tɛl /

A1
  • verb
  • To (strongly) advise a person to do something
  • To be able to guess
  • To say or communicate information to someone
  • To inform, but without speaking; indicate
  • To have a negative effect on someone
  • To order someone to do something; command
  • To recognize something based on certain signs
  • To report something to an authority
  • To explain something or teach someone something

first

Copy vocabulary

US / fɜ:st /

UK / fɚst /

A1
  • adjecitve
  • 1st; Coming before all others in time or place
  • noun
  • Something that has not happened before
  • Position of the winner of a competition

get

Copy vocabulary

US / ɡet /

UK / ɡɛt /

A1
  • verb
  • To become affected by illness or disease
  • To begin to feel or understand an emotion or idea
  • To send or bring someone or something home, etc.
  • To go somewhere to obtain something
  • To (cause to) do a particular thing
  • To obtain, receive or be given something
  • To currently have
  • To prepare for use
  • To understand something being said or read

about

Copy vocabulary

US / ə'baʊt /

UK / əˈbaʊt /

A1
  • adverb
  • To be ready to; going to
  • Nearly; approximately; roughly
  • Near; next to; close to
  • In every direction; in the area of
  • preposition
  • Concerning or of (a topic)

even

Copy vocabulary

US / 'i:vn /

UK / ˈivən /

A1
  • adjecitve
  • Being equal in influence, power, possibility etc.
  • Being divided equally or fairly
  • (Of teams/contest) with similar chances of success
  • Smooth, level, or regular
  • Can be divided by 2; ending in 2, 4, 6, 8, or 0
  • At a regular, equally steady manner
  • Remaining steady and unchanging
  • adverb
  • (When this is surprising) as well; too
  • (Used to compare two things/stress the difference)
  • verb
  • To make something level; to flatten
  • To make something equal

indicator

Copy vocabulary

US / ˈɪndɪkeɪtə(r) /

UK / ˈɪndɪˌketɚ /

A2
  • noun
  • An instrument that shows temperature, speed etc.

people

Copy vocabulary

US / 'pi:pl /

UK / ˈpipəl /

A1
  • noun
  • Persons sharing culture, country, background, etc.
  • Men, Women, Children

second

Copy vocabulary

US / 'sekənd /

UK / ˈsɛkənd /

A1
  • adjecitve
  • 2nd; the one following first
  • noun
  • Unit of time; one sixtieth of a minute
  • Short period of time that you wait for someone
  • (Do) soon

sit

Copy vocabulary

US / sɪt /

UK / sɪt /

A1
  • verb
  • To take an exam
  • To be in a resting position on a chair
  • To provide seating for people
  • To remain in a still position while being painted

that

Copy vocabulary

US / ðæt /

UK / ðæt, ðət /

A1
  • adjecitve
  • The person or thing being talked about
  • Used to identify something both the speakers know
  • adverb
  • Used to reinforce adjectives and adverbs
  • To such a degree
  • conjunction
  • Used to connect a noun clause
  • Used to introduce an adverbial clause
  • Used to introduce a noun clause
  • determiner
  • Used as a noun to refer to something
  • pronoun
  • Referring an object far away
  • Used to refer to the relative pronoun ‘which’

what

Copy vocabulary

US / wɒt /

UK / hwɑt, hwʌt, wɔt, wʌt,hwət, wət /

A1
  • pronoun
  • Thing or things that; the same kind as
  • Used to emphasize something you are about to say
  • adjecitve
  • Used to refer to a particular amount, or number
  • Used to place emphasis on a particular quality
  • adverb
  • To a certain degree
  • determiner
  • Question words used for asking for information
  • exclamation
  • Used to express excitement, shock, or surprise
  • Used to ask people to repeat something they said

depot

Copy vocabulary

US / ˈdepəu /

UK / ˈdipo,ˈdɛpo /

B2
  • noun
  • Storage place for goods

overweight

Copy vocabulary

US / ˌəʊvə'weɪt /

UK / ˌovɚˈwet /

B2
  • adjecitve
  • Weighing more than a normal or allowed amount

right

Copy vocabulary

US / raɪt /

UK / raɪt /

A1
  • adjecitve
  • Correct or true
  • The south side of you looking at the rising sun
  • adverb
  • Exactly in a place or time
  • Being appropriate for a particular event
  • In a straight or direct manner
  • noun
  • Something you are legally or morally allowed to do
  • Ideal of what is just and good
  • Political view based on conservatism
  • verb
  • To fix something previously wrong or unjust
  • To make upright, as a boat that has turned over

she

Copy vocabulary

US / ʃɪ /

UK / ʃi /

A1
  • pronoun
  • Female person or animal mentioned before
  • (Refers to female person mentioned before)

down

Copy vocabulary

US / daʊn /

UK / daʊn /

A1
  • adjecitve
  • Being sad, sick, or unhappy
  • Not operating, working, or functioning as expected
  • adverb
  • In a sitting or lying position
  • Towards or on the ground, floor, or bottom
  • Written or copied onto a piece of paper or book
  • noun
  • A period of play in American Football
  • The soft, smooth hairs that cover a bird's body
  • preposition
  • Along something's path, course, or direction
  • Going from a higher position to a lower position
  • verb
  • To eat or drink very quickly and without stopping

include

Copy vocabulary

US / ɪnˈklu:d /

UK / ɪnˈklud /

A1
  • verb
  • To make someone, something part of a group

then

Copy vocabulary

US / ðen /

UK / ðɛn /

A1
  • adverb
  • A time that is not now
  • Following another thing in time or arrangement
  • Following on reasonably from what was just stated
  • At that time, not now

decrease

Copy vocabulary

US / dɪˈkri:s /

UK / dɪˈkris /

B1
  • noun
  • Amount by which something has been reduced
  • verb
  • To reduce the size, amount or number of something

ground

Copy vocabulary

US / graʊnd /

UK / ɡraʊnd /

A1
  • noun
  • Connection of electrical equipment to earth
  • Place where people play particular sports
  • Solid surface of the earth that we stand on
  • verb
  • To break (coffee, etc.) into tiny bits with machine
  • To make loud jarring noise by pressing hard
  • To make sharp or smooth through friction
  • To press together with force making a sound
  • To punish someone by not allowing them to go out
  • To hit the bottom
  • (Of boat) to hit the bottom so it cannot move
  • To prevent a plane from taking off
  • To place the ball over the goal line in rugby

yeah

Copy vocabulary

US / jeə /

UK / ˈjɛə, ˈjæə, jɛ- /

A1
  • exclamation
  • Another way of saying 'yes'

cio

Copy vocabulary

US / /

UK / /

A1
  • abbreviation
  • Cry-it-out (a method of sleep training in which a young child is left to fall asleep on their own an
  • (in North America) Congress of Industrial Organizations.

case

Copy vocabulary

US / keɪs /

UK / kes /

A1
  • noun
  • Container used to carry things, e.g. clothes
  • Set of facts about a crime
  • Set of facts about an event
  • Example or instance of something
  • verb
  • To find out about a place, as in planning to steal

mean

Copy vocabulary

US / mi:n /

UK / min /

A1
  • adjecitve
  • Being good at
  • Nasty; unkind
  • Not liking to spend money; cheap; stingy
  • noun
  • Average of a set of numbers
  • verb
  • To express a particular idea or thought
  • To intend to do something in particular
  • To have a particular meaning or value

partner

Copy vocabulary

US / 'pɑ:tnə(r) /

UK / ˈpɑrtnɚ /

A2
  • noun
  • One you have a business/personal relationship with
  • Someone you have personal relationship with
  • verb
  • To join with others for work or other activity

supercharge

Copy vocabulary

US / /

UK / /

C2
  • verb
  • To add an oxygen compressor to an engine

terrible

Copy vocabulary

US / ˈterəbl /

UK / ˈtɛrəbəl /

A2
  • adjecitve
  • Very bad; horrible

check

Copy vocabulary

US / tʃek /

UK / tʃɛk /

A1
  • adjecitve
  • Decorated with squares made up of lines
  • noun
  • Paper showing how much you owe at a restaurant
  • Printed piece of paper you sign to pay for things
  • A mark on a form, equivalent to 'yes'; tick
  • Mark used to show that something is correct
  • Procedure to prevent errors or control something
  • verb
  • To confirm the details of something are correct
  • To leave your things with staff who look after it
  • To examine something to see if something is wrong
  • To examine in order to prevent errors/a problem

rebuild

Copy vocabulary

US / ˌri:'bɪld /

UK / riˈbɪld /

A2
  • verb
  • To get back something that was lost, e.g. trust
  • To repair something that was damaged or destroyed

constant

Copy vocabulary

US / 'kɒnstənt /

UK / ˈkɑnstənt /

A2
  • adjecitve
  • Happening frequently or without pause
  • noun
  • Thing that happens always or at a regular rate

fact

Copy vocabulary

US / fækt /

UK / fækt /

A1
  • noun
  • Something that is known or proved to be true

financial

Copy vocabulary

US / faɪˈnænʃl /

UK / faɪˈnænʃ(ə)l /

A2
  • adjecitve
  • Involving money

much

Copy vocabulary

US / mʌtʃ /

UK / mʌtʃ /

A1
  • adjecitve
  • Very; to a high level or degree
  • adverb
  • A lot; large amount; a high degree of
  • Nearly; basically
  • On many occasions; often
  • noun
  • A large amount; a great quantity

positive

Copy vocabulary

US / ˈpɒzətɪv /

UK / ˈpɑzɪtɪv /

A2
  • adjecitve
  • Showing agreement or support for something
  • Being sure about something; knowing the truth
  • Having the charge produced by electrons
  • Being good or useful
  • Showing that a chemical is present in a test

banking

Copy vocabulary

US / ˈbæŋkɪŋ /

UK / ˈbæŋkɪŋ /

A2
  • noun
  • Act of keeping your money in a bank
  • verb
  • To put or keep your money in a bank
  • To turn a plane when flying; (of a plane) to turn

deteriorate

Copy vocabulary

US / dɪ'tɪərɪəreɪt /

UK / dɪˈtɪriəˌret /

B2
  • verb
  • To become worse in condition or value

rich

Copy vocabulary

US / rɪtʃ /

UK / rɪtʃ /

A1
  • adjecitve
  • Having a lot of money or valuable possessions
  • Containing a lot of exciting events or experiences and therefore very interesting
  • (of a color, sound, smell, etc.) Pleasantly deep or strong
  • If food is rich, it contains a large amount of oil, butter, eggs, or cream.

such

Copy vocabulary

US / sʌtʃ /

UK / sʌtʃ /

A1
  • determiner
  • Being similar to
  • (Thing) as previously stated or referred to
  • adverb
  • (Used to emphasize the quality of an adjective)

for

Copy vocabulary

US / fə(r) /

UK / fɔr,fə /

A1
  • preposition
  • Used to show the purpose, or need of something

why

Copy vocabulary

US / waɪ /

UK / hwaɪ, waɪ /

A1
  • adverb
  • Question word to ask for a reason
  • exclamation
  • (Used to express surprise or approval)

worth

Copy vocabulary

US / wɜ:θ /

UK / wɚθ /

A2
  • other
  • the financial, practical or moral value of somebody/something
  • having a particular value, especially in money

consumer

Copy vocabulary

US / kənˈsju:mə(r) /

UK / kənˈsumɚ /

A2
  • noun
  • Person who buys goods or services

home

Copy vocabulary

US / həʊm /

UK / hom /

A1
  • adjecitve
  • A sports team's own field or place of play
  • adverb
  • Into the correct or intended position
  • noun
  • House, apartment or building to be rented or sold
  • Institution for sick or elderly people
  • Place where a person or a family lives
  • Country where a person lives or was born
  • Region that is native to peoples, plant or animals
  • verb
  • To move towards a particular target location

report

Copy vocabulary

US / rɪ'pɔ:t /

UK / rɪˈpɔrt, ˈport /

A1
  • noun
  • Account of the necessary facts and information
  • The telling of news in the media
  • Official statement about something
  • verb
  • To submit a report or bill to the government
  • To write in a newspaper or speak on a news program
  • To state something officially
  • To officially present yourself to an authority
  • To describe something by telling it to others

everybody

Copy vocabulary

US / ˈevribɒdi /

UK / ˈɛvriˌbɑdi, -ˌbʌdi /

A1
  • pronoun
  • Every person; everyone

prospectively

Copy vocabulary

US / prəˈspektɪvli /

UK / prəˈspektɪvli /

B1
  • adverb
  • Having a great possibility of happening

slowdown

Copy vocabulary

US / ˈsləʊdaʊn /

UK / ˈsloʊdaʊn /

C2
  • noun
  • Act of slowing down or falling behind

start

Copy vocabulary

US / stɑ:t /

UK / stɑrt /

A1
  • noun
  • First time or place that a thing exists; beginning
  • First opportunity to achieve something, e.g. a job
  • Sudden action or movement because you are scared
  • other
  • Beginning of something in place or time
  • verb
  • To do, be or happen for the first time; begin
  • To turn something on

well

Copy vocabulary

US / wel /

UK / wɛl /

A1
  • adjecitve
  • Being in a fortunate, good condition or state
  • Healthy and in good condition
  • adverb
  • In an acceptable, proper, or successful manner
  • In a complete, total, or full manner
  • A great and considerable degree
  • In a successful way, in a good or satisfactory way
  • exclamation
  • Used to begin or continue a particular statement
  • Used to show you want to start saying something
  • Used to express that you are waiting for a reply
  • You say this to change the topic of a conversation
  • Used to indicate you are making a final remark
  • noun
  • Long deep hole in the ground to get water
  • verb
  • To cause your eyes to fill with tears

those

Copy vocabulary

US / ðəʊz /

UK / ðoz /

A1
  • determiner
  • The people or things we are talking about
  • pronoun
  • The objects far from the speaker

though

Copy vocabulary

US / ðəu /

UK / ðo /

A1
  • adverb
  • Although, despite the fact that

basis

Copy vocabulary

US / ˈbeɪsɪs /

UK / ˈbesɪs /

A2
  • noun
  • Main ingredient or part of something
  • Starting situation, fact, idea to develop from

crisis

Copy vocabulary

US / 'kraɪsɪs /

UK / ˈkraɪsɪs /

B1
  • noun
  • Unstable situation of extreme danger or difficulty

treasury

Copy vocabulary

US / ˈtreʒəri /

UK / ˈtrɛʒəri /

A2
  • noun
  • Government office concerned with finance

half

Copy vocabulary

US / hɑ:f /

UK / hæf, hɑf /

A1
  • adjecitve
  • Not complete
  • adverb
  • Partly; somewhat
  • noun
  • One of two equal periods of game time in a sport
  • The part you get when one is divided into two;

how

Copy vocabulary

US / haʊ /

UK / haʊ /

A1
  • adjecitve
  • To what degree? in what amount?
  • adverb
  • (Used to explain the way to do something)
  • exclamation
  • For what purpose or reason?
  • (Used to ask someone or something's condition)

year

Copy vocabulary

US / jə: /

UK / jɪr /

A1
  • noun
  • Unit of time equal to 12 months or 365 or 366 days
  • Used to refer to the age of a person

you

Copy vocabulary

US / jʊ /

UK / ju /

A1
  • pronoun
  • Person someone is speaking or writing to
  • Person or people in general

big

Copy vocabulary

US / bɪɡ /

UK / bɪɡ /

A1
  • adjecitve
  • Popular
  • Serious
  • Large

lead

Copy vocabulary

US / li:d /

UK / lid /

A1
  • adjecitve
  • Being the main part in movies or plays
  • noun
  • Wire for electricity, computer, etc.; cable
  • Information that could help to solve a crime
  • Main part in a play or movie
  • Heavy, gray metal element
  • Rope used to tie something to stop it escaping
  • Act of being at the front in a race or game
  • verb
  • To show the way or guide others
  • To be at the front of a race or game
  • To travel in front of; go in advance of others

let

Copy vocabulary

US / let /

UK / lɛt /

A1
  • verb
  • To allow someone to do something
  • Introducing a suggestion to do something together
  • To rent a house, etc. to others

offset

Copy vocabulary

US / ˈɒfset /

UK / ˈɔ:fset /

B1
  • adjecitve
  • (Of printing) using inked plates
  • noun
  • Compensation or counterbalance
  • verb
  • To compensate for or counterbalance the effect of

the

Copy vocabulary

US / ðə /

UK / ðə /

A1
  • article
  • Used to refer to something already mentioned
  • Used to show there is only one of something
  • determiner
  • Used to describe all of a family

resolution

Copy vocabulary

US / ˌrezə'lu:ʃn /

UK / ˌrɛzəˈluʃən /

B1
  • noun
  • End part of a story resolving the conflict
  • Ability of a screen or camera to display pixels
  • Statement of the decisions of a group
  • Answer to a problem or conflict
  • Promise made to accomplish something

into

Copy vocabulary

US / 'ɪntə /

UK / ˈɪntu /

A1
  • preposition
  • Moving or going inside something
  • In the same direction as; in the direction of
  • So as to become; taking the state of

mat

Copy vocabulary

US / mæt /

UK / mæt /

B1
  • noun
  • Piece of material used to cover, protect the floor
  • Piece of material put on table, etc. to protect it
  • Thick mass of something, such as hair

one

Copy vocabulary

US / wʌn /

UK / wʌn /

A1
  • pronoun
  • You; we; people in general; someone
  • The thing or person previously referred to
  • adjecitve
  • Used to refer to people generally
  • Being a strong example of (something mentioned)
  • number
  • Number 1

other

Copy vocabulary

US / 'ʌðə(r) /

UK / ˈʌðər /

A1
  • adjecitve
  • A thing different from that mentioned
  • determiner
  • (Something) else; not the first (one)
  • pronoun
  • Being the one and only thing of that category

refute

Copy vocabulary

US / rɪ'fju:t /

UK / rɪˈfjut /

B2
  • verb
  • To prove something is wrong, using facts

pull

Copy vocabulary

US / pʊl /

UK / pʊl /

A1
  • noun
  • Act of breathing in smoke, as from a pipe
  • Force something has that draws other things to it
  • Using your hands to move something to you
  • verb
  • To breathe in smoke, as from a pipe
  • To hold something and move it toward you
  • To remove something by force

than

Copy vocabulary

US / ðən /

UK / ðən /

A1
  • conjunction
  • Used to compare two things that are not equal

free

Copy vocabulary

US / fri: /

UK / fri /

A1
  • adjecitve
  • Living, happening without being controlled
  • Costing no money
  • Not working; not busy
  • verb
  • To release (e.g. bird) from a cage or prison

play

Copy vocabulary

US / pleɪ /

UK / pleɪ /

A1
  • noun
  • Loose, free movement between two objects
  • Single action in a sports game
  • Performance in which people act in a theater
  • verb
  • To act as a character in a movie, or on stage
  • To perform music on an instrument
  • To use a device, e.g. a video game
  • To do something for enjoyment and fun
  • To do or perform a game or sport

this

Copy vocabulary

US / ðɪs /

UK / ðɪs /

A1
  • adjecitve
  • Used to indicate something already been discussed
  • Used to indicate something happening around now
  • adverb
  • An indication by a physical motion or gesture
  • A specific amount of
  • determiner
  • Person, thing, or idea near you
  • pronoun
  • Person, thing that has already been discussed

bank

Copy vocabulary

US / bæŋk /

UK / bæŋk /

A1
  • noun
  • A financial institution that keeps or lends money
  • The side of a river
  • A row of things in lines (e.g. computers)
  • verb
  • To put or keep your money in a bank
  • To turn a plane when flying; (of a plane) to turn

extraneous

Copy vocabulary

US / ɪkˈstreɪniəs /

UK / ɪkˈstreniəs /

C1
  • adjecitve
  • Not being an essential part of

welcome

Copy vocabulary

US / 'welkəm /

UK / ˈwɛlkəm /

A1
  • adjecitve
  • Being what was wanted or needed
  • noun
  • Friendly greeting to someone who has arrived
  • verb
  • To greet someone who has just arrived
  • To accept or receive something happily and gladly

account

Copy vocabulary

US / ə'kaʊnt /

UK / əˈkaʊnt /

A1
  • noun
  • An advantage
  • Arrangement with a bank to keep your money for you
  • An invoice for things bought
  • Arrangement whereby you can use online services
  • A description, often written, of events; report

clearly

Copy vocabulary

US / ˈklɪəlɪ /

UK / ˈklɪrlɪ /

A1
  • adverb
  • In a way that is easy to understand; obviously

pretty

Copy vocabulary

US / 'prɪtɪ /

UK / ˈprɪti /

A1
  • adjecitve
  • Being attractive to the eye in a simple way
  • adverb
  • Very; to a great degree

figure

Copy vocabulary

US / ˈfiɡə /

UK / ˈfɪɡjɚ /

A1
  • noun
  • Your body shape
  • Numbers in a calculation
  • Doll-like thing meant to represent a person
  • Picture or diagram giving information in a text
  • Person who is very important or famous
  • Shape of a person seen indistinctly or in outline
  • Amount that is expressed in numbers
  • verb
  • To appear in a game, play or event
  • To calculate how much something will cost
  • To understand after thinking; work out

else

Copy vocabulary

US / els /

UK / ɛls /

A1
  • adverb
  • Otherwise; if you fail to
  • (Of person place thing etc.) besides; in addition

move

Copy vocabulary

US / mu:v /

UK / muv /

A1
  • noun
  • Act of moving a playing piece in chess, etc.
  • An action; doing something
  • Step taken to achieve a goal
  • verb
  • To cause someone to have certain emotions
  • To cause something to change to a different place
  • To change where people live or a business operates
  • To take action to do or achieve something

yes

Copy vocabulary

US / jes /

UK / jɛs /

A1
  • adverb
  • Way to say you agree or will do something

all

Copy vocabulary

US / ɔ:l /

UK / ɔl /

A1
  • adverb
  • Completely; totally
  • determiner
  • Being every one of something
  • pronoun
  • 100% of something; the complete amount

drop

Copy vocabulary

US / drɒp /

UK / drɑp /

A1
  • noun
  • Distance between a higher and a lower level
  • Act of letting something fall (from your hand)
  • A decrease in quantity or quality; reduction
  • Tiny amount of liquid, with rounded bottom
  • verb
  • To drive someone to a place and then drive away
  • To let something fall from your hand
  • To fall or lie down quickly, as when shot
  • To decide to stop something e.g. a course)
  • To (cause to) reduce in quantity or quality

who

Copy vocabulary

US / hu: /

UK / hu /

A1
  • pronoun
  • Which person
  • Used to introduce information about people

billion

Copy vocabulary

US / ˈbɪljən /

UK / ˈbɪljən /

A2
  • noun
  • Number 1,000,000,000

they

Copy vocabulary

US / ðeɪ /

UK / ðe /

A1
  • pronoun
  • Two or more people, animals, or things

breadth

Copy vocabulary

US / bredθ /

UK / brɛdθ /

B2
  • noun
  • Width; distance from one side to the another

result

Copy vocabulary

US / rɪ'zʌlt /

UK / rɪˈzʌlt /

A2
  • noun
  • Something produced through tests or experiments
  • Final score of a competition, election or game
  • verb
  • To be the outcome of other causes and effects

wring

Copy vocabulary

US / rɪŋ /

UK / rɪŋ /

B2
  • verb
  • To twist and squeeze in order to remove water

build

Copy vocabulary

US / bɪld /

UK / bɪld /

A1
  • noun
  • Your physical shape; physique
  • verb
  • To establish e.g. a reputation, over time
  • To construct a house, office, factory

building

Copy vocabulary

US / ˈbɪldɪŋ /

UK / ˈbɪldɪŋ /

A1
  • noun
  • A structure with a roof and walls, e.g. a house
  • verb
  • To establish e.g. a reputation, over time
  • To construct a house, office, factory

conjecture

Copy vocabulary

US / kən'dʒektʃə(r) /

UK / kənˈdʒɛktʃɚ /

C1
  • noun
  • Forming an opinion/conclusion with little evidence

post

Copy vocabulary

US / pəʊst /

UK / post /

A1
  • noun
  • Message delivered or shared in an online group
  • Piece of wood, metal in the ground for support
  • Job or position within an organization or company
  • Place where a soldier, etc. is ordered to go
  • verb
  • To send a letter or package using stamps
  • To share a message on an internet discussion group
  • To send a soldier somewhere to do a job
  • To put a message in public for everyone to see

sale

Copy vocabulary

US / seɪl /

UK / sel /

A2
  • noun
  • Event during which the prices of goods are reduced
  • Giving something for money; the amount sold

throw

Copy vocabulary

US / θrəʊ /

UK / θroʊ /

A1
  • noun
  • Arm movement to make a thing fly through the air
  • Loose cloth or blanket (usually over a chair)
  • Forcibly putting someone on the ground
  • verb
  • To use your arm to make something fly in the air
  • To move part of your body suddenly and forcefully
  • To confuse or upset someone
  • (E.g. judo) to forcibly put someone on the ground
  • To put something somewhere suddenly and roughly

work

Copy vocabulary

US / wɜ:k /

UK / wɚk /

A1
  • adjecitve
  • Activity completed in order to make money
  • noun
  • The product of some artistic or literary endeavor
  • Everything created by an author, artist, musician
  • Activity you do in order to make money
  • Place of employment
  • Final product or result of a some labor or effort
  • verb
  • To bring into a specific state of success
  • To be functioning properly, e.g. a car
  • To do your job in your company or workplace
  • To make an effort to do something
  • To operate a machine or device

add

Copy vocabulary

US / æd /

UK / æd /

A1
  • verb
  • To include as well
  • To put two things or numbers together, e.g. 2+2

bring

Copy vocabulary

US / brɪŋ /

UK / brɪŋ /

A1
  • verb
  • To take or go with someone to a place

take

Copy vocabulary

US / teɪk /

UK / tek /

A1
  • noun
  • Filming of a single scene for TV or the movies
  • verb
  • To accept something that is offered
  • To use a method of traveling, e.g. a bus or train
  • To use a camera to make (a photo)
  • To pick up something and go away with it
  • To study a subject in school
  • To attempt to pass (an exam)
  • To require a certain amount of time, money, space

general

Copy vocabulary

US / 'dʒenrəl /

UK / ˈdʒɛnərəl /

A1
  • adjecitve
  • Widespread, normal or usual
  • noun
  • Top ranked officer in the army

look

Copy vocabulary

US / lʊk /

UK / lʊk /

A1
  • noun
  • Person's beauty or physical attractiveness
  • Particular style of dress, clothes, or appearance
  • The way someone, something appears to be
  • Act of searching for or examining something
  • verb
  • To appear to be; seem

thank

Copy vocabulary

US / θæŋk /

UK / θæŋk /

A1
  • verb
  • To tell someone you are grateful to them

drama

Copy vocabulary

US / 'drɑ:mə /

UK / ˈdrɑmə, ˈdræmə /

A2
  • noun
  • Play that is performed on stage, theater, or TV
  • Study of acting

will

Copy vocabulary

US / wɪl /

UK / wɪl /

A1
  • noun
  • Desire or choice of someone
  • Document saying who gets your money when you die
  • Strong desire to do something; determination
  • Desire to do something; strong wish to do
  • other
  • Used with verbs to express the future
  • verb
  • To leave property to someone after your death
  • To use mental effort to make something happen
  • Am (is, are) likely to do
  • To influence someone to do something
  • To make something happen by strongly wanting it

combine

Copy vocabulary

US / kəmˈbaɪn /

UK / kəmˈbaɪn /

A2
  • verb
  • To mix several things together to form one thing

pile

Copy vocabulary

US / paɪl /

UK / paɪl /

B1
  • adjecitve
  • (Surface) consisting of usually short threads
  • noun
  • Large amount of something
  • Group of things one on top of another
  • Long post used to support something
  • Carpet, rug consisting of usually short threads
  • verb
  • (E.g. of problems) to increase; get more or worse

flick

Copy vocabulary

US / flɪk /

UK / flɪk /

B1
  • noun
  • Hitting something with your finger to move it
  • verb
  • To hit something with your finger to move it
  • To move a button, switch from on, off positions

market

Copy vocabulary

US / ˈmɑ:kɪt /

UK / ˈmɑ:rkɪt /

A1
  • noun
  • Need or demand for a particular product or service
  • Area or region where a certain product is sold
  • Public event where people sell goods on tables
  • Institution where stocks are bought and sold
  • verb
  • To publicize products to get you to buy; advertise

plus

Copy vocabulary

US / plʌs /

UK / plʌs /

A2
  • noun
  • A benefit or advantage
  • preposition
  • In addition; add
  • In addition to; Indicates a number above
  • Having a value greater than zero

reason

Copy vocabulary

US / 'ri:zn /

UK / ˈrizən /

A1
  • noun
  • Ability to think about facts and form a judgment
  • Explanation for why something occurred or was done
  • verb
  • To think and make conclusions in a logical manner

too

Copy vocabulary

US / tu: /

UK / tu /

A1
  • adverb
  • In addition, also; with emphasis
  • Say that something is more than you want

exactly

Copy vocabulary

US / ɪgˈzæktli /

UK / ɪɡˈzæktli /

A1
  • adverb
  • No more and no less than; precisely

debt

Copy vocabulary

US / det /

UK / dɛt /

A2
  • noun
  • Sum of money owed to someone that is not yet paid

here

Copy vocabulary

US / hɪə(r) /

UK / hɪr /

A1
  • adverb
  • In this place; at this location, position or time

performance

Copy vocabulary

US / pə'fɔ:məns /

UK / pɚˈfɔrməns /

A2
  • noun
  • Act of doing something
  • Activity done to entertain an audience

supply

Copy vocabulary

US / sə'plaɪ /

UK / səˈplaɪ /

A2
  • noun
  • Availability of products and services for use
  • Specific things needed to perform a certain task
  • verb
  • To give or sell goods to others for their use

trifecta

Copy vocabulary

US / traɪ'fektə /

UK / traɪ'fektə /

A1
  • noun

burn

Copy vocabulary

US / bɜ:n /

UK / bɚn /

A1
  • noun
  • Damage from fire or heat
  • verb
  • To destroy with fire
  • To feel pain and heat
  • To use as fuel for a fire to make light or heat
  • To overcook food with too much heat it goes black

component

Copy vocabulary

US / kəmˈpəʊnənt /

UK / kəmˈponənt /

A2
  • adjecitve
  • Being a part of something
  • noun
  • One of the parts that something is made up of

economy

Copy vocabulary

US / ɪ'kɒnəmɪ /

UK / ɪˈkɑnəmi /

A1
  • noun
  • Using money, resources in a careful, effective way
  • Total of all goods, services and wages in an area

matter

Copy vocabulary

US / 'mætə(r) /

UK / ˈmætɚ /

A1
  • noun
  • Material all things are made of that fills space
  • Problem or reason for concern
  • verb
  • To be of great importance; to count

once

Copy vocabulary

US / wʌns /

UK / wʌns /

A1
  • adverb
  • One time; one instance
  • At a time in the past
  • conjunction
  • When; as soon as

bond

Copy vocabulary

US / bɒnd /

UK / bɑnd /

A2
  • noun
  • Rope, chain or other thing used to tie someone up
  • Closeness that is shared between people or groups
  • Loan that a government must buy back by a set date
  • Written agreement to pay back borrowed money
  • Joint or connection, often using glue
  • verb
  • To develop a close relationship with
  • To become joined or connected, e.g. using glue

speak

Copy vocabulary

US / spi:k /

UK / spik /

A1
  • verb
  • To be able to use a certain language
  • To use words to tell information, express thoughts
  • Introduction to Video Content
  • Treasury Partners' CIO, Rich Saperstein, joins us on Post 9 to discuss his bearish outlook on the market. Saperstein, a top-rated financial advisor according to Barron's, shares his advice in the current market conditions.
    Saperstein and his team have been holding a significant amount of cash, with most of it now moving into bonds. This shift in allocation reflects their negative view on the market. Saperstein points out several reasons for their pessimism.
    Firstly, he highlights the negative M2 money supply growth over the past six months. This indicates a contraction in the overall supply of money in the economy. Additionally, consumer spending has been trending downward, and credit availability is becoming tighter. Leading economic indicators are also signaling a slowdown in the economy for the second half of the year.
    Despite the market's resilience, with positive indicators such as retail sales and employment, Saperstein believes there are underlying issues. For instance, the recent report from Home Depot, a bellwether for the housing market, suggests trouble ahead. Saperstein acknowledges that there may be other factors at play, but it still raises concerns.
    Examining the market's performance, Saperstein notes that the overall market is up 8% in the first quarter, but this growth is driven by big tech companies. He points out that equal-weighted indices are flat, indicating that the broader market is not performing as well as the tech giants. This concentration of market gains in a few mega-cap stocks is a cause for concern.
    When asked why this market imbalance is significant, Saperstein explains that his firm is overweight in big tech and other asset-allocated parts of their portfolio. If the mega-cap stocks falter, it could have a significant impact on their investments. Furthermore, this top-heavy market situation raises questions about the sustainability and health of the overall market.
    In conclusion, Saperstein believes that the current market fundamentals are deteriorating, with negative money supply growth, weakening consumer spending, and tightening credit availability. The concentration of gains in a few mega-cap stocks raises concerns about market stability. Saperstein's firm has shifted their allocation to bonds and cash as a defensive stance in anticipation of a slowdown in the economy. Their cautious approach reflects their pessimistic outlook on the market.
  • Subtitles section
  • Let's bring in Treasury partner CIO Rich Saperstein.
  • He's here with me at Post 9. He's one of Barron's top-rated financial advisors, so we need your advice, especially right now.
  • Welcome back.
  • Thank you.
  • Are you still sitting on a pile of cash?
  • Yes, we are.
  • Why?
  • Why are you still so negative in the market?
  • Well, we're not exactly on cash.
  • All the cash has moved into bonds, as we spoke about last September.
  • But if you look at the facts on the ground right now, you have M2 negative for six months.
  • Money supply.
  • Right.
  • Consumer spending is down.
  • Availability credit is tightening.
  • Leading economic indicators that prospectively tell what's going on, they're dropping.
  • So we expect the economy to slow in the second half of the year.
  • I mean, it's been much more resilient than people have thought.
  • I would assume you include it.
  • The consumer, even though retail sales were slowing, they're still pretty good.
  • Employment is pretty good.
  • Those are the two positives.
  • But Home Depot, the report this morning will clearly refute that.
  • Yeah, but I mean, there were other factors going on in there, too.
  • And even if we throw up Home Depot shares, they've come off the mat of where they were.
  • And there were some other extraneous factors that came to play there, too.
  • But if you look at the first quarter performance, market's up 8%, but the equal weight is flat.
  • So it's really been driven by big tech, which is the largest component of the S&P on a cap-weighted basis.
  • So the tape really isn't trading too well.
  • This has become the issue of the moment.
  • The top-heavy market, right, the mega-caps are pulling the weight of everybody else.
  • So what?
  • So what?
  • Why is that such a big deal?
  • Well, we're overweight big tech, so that plus our other asset-allocated parts of the portfolio.
  • So we're okay with that.
  • We don't have a problem with big tech pulling the market.
  • No, but people cite that as one of the reasons to build the bearish case.
  • Oh, breadth is terrible.
  • It's so narrow.
  • So what?
  • Why does that matter so much?
  • No, we're building a cautious take, not because tech is leading the market, but rather because the fundamentals are deteriorating.
  • We had 15 years of free money, quantitative easing, as well as a $5 trillion fiscal push that we're taking a big lag to burn that off.
  • So we're wringing out those excesses.
  • Figure second half of the year is when we'll start seeing a slowdown.
  • You think the Fed's done?
  • Yeah.
  • So they're not raising any more?
  • I don't think so, but keep in mind there's a lot of conjecture about the resolution of the debt ceiling.
  • The debt ceiling will result in a trifecta of tightening.
  • It'll supercharge QT. Here's how it works.
  • Yellen's been burning down the Treasury General Account, the TGA, and not issuing treasuries.
  • Powell's still doing QT. So the offset has been pretty constant, if you take away what Powell did for the banking crisis drama.
  • So once the debt ceiling is resolved, which maybe we'll get it, OK, who knows, Yellen's going to have to rebuild her checking account.
  • So it's estimated that she'll be issuing an extra $600 billion worth of treasuries in the second half of the year.
  • That's a tightening.
  • Combine that with QT, and then add that to the banking drama that has resulted in bank willingness to lend decreasing, it's going to be some real tightening in the second half of the year.