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In Episode 98, we welcome a true market veteran, Dr. Ed Yardeni.\nThe episode starts with a fun story about Ed\u2019s school days, studying off Janet Yellen\u2019s notes in James Tobin\u2019s class. But Meb soon brings up Ed\u2019s new book, Predicting the Markets. In it, he writes that if books had theme songs, the appropriate song for his would be the 80s hit, \u201cDon\u2019t Worry Be Happy.\u201d Ed explains this is because, when looking back over the past 40 years, the market has been extraordinarily bullish as a whole. There were plenty of reason to worry along the way, but all in all, the market rewarded brave investors.\nThis eventually leads into a conversation about valuations today that appear somewhat grim, and what Ed\u2019s thoughts are looking forward.\nEd tells us it\u2019s okay to be bearish, but don\u2019t forget to get back into the market. He says, \u201chistory shows the smartest thing to do is just to invest over the years as you\u2019re getting old, keep putting more money into the markets\u2026recognizing that sometimes you\u2019re going to get bargains and sometimes you\u2019re not.\u201d\nThe conversation drifts toward making macro predictions and the effect of Washington DC on the market. Ed tells us we\u2019re overwhelmed with information and news, which is all the more reason to try to find the fundamental truth that\u2019s out there. Washington doesn\u2019t matter as much as Washington likes to think it matters. Ed gives us more of his thoughts on the market response to Obama, Trump, and the Fed, as well as what he believes actually creates jobs.\nThe conversation turns toward bonds, with Meb asking why bond movements can be challenging to predict. Ed points toward inflation, taking us back to the 50s to discuss bond yields and how they\u2019ve moved in the years since. He brings in nominal GDP and central bankers into the mix.\nA conversation about negative yielding sovereigns brings various central bankers into the spotlight. Ed walks us through a look back at some of the effects of Fed involvement. He has some interesting thoughts on what the Fed does well \u2013 and not so well.\xa0\xa0\nThis is a great show, melding market history, implementable market wisdom, and Ed\u2019s fascinating career. There\u2019s way more, including where Ed sees the biggest changes coming in technology, and how it will affect markets\u2026 Ed\u2019s favorite three indicators\u2026 which period over Ed\u2019s 40-year career stands out the most\u2026 Ed\u2019s movie reviews\u2026 and of course, his most memorable trade.\nWhat are the details? Find out in Episode 98.\nLearn more about your ad choices. Visit megaphone.fm/adchoices