President Trump, and let's talk together. Let's work it out together.
More investor reaction. Joining me here in Davos is Ken Moelis. Of course, he is the founder and executive chairman of Moelis and Company, a big investment bank. It's great to have you here. We always have you here to react to the Trump speech. What do you think investors should take from it?
Well, I think there are probably two major things. And you mentioned one of them, which is I think there was a real sigh of relief that he took military action off the table with Greenland, which, you know, for President Trump, it's unusual for him to ever take an option off the table. So I think that was a big sigh of relief for everybody. So now we're down to whether or not Greenland is better off and whether there's what I—if we do M&A for a living. And I always say the heart of M&A is finding assets that are more valuable in other people's hands.
That's what we do. Do you want to be on this deal?
I said, you know, people ask me, is there big M&A deals? And I said, there's probably the biggest M&A deal in the history of the world being cooked up right now.
What is it worth? What's the valuation?
No idea what it's worth. But if you do think about it, that one thing I thought he made a very good case today. And that doesn't mean Denmark or Europe, the Europeans have to do it. But he was basically saying that asset is better off in our hands. It's what we do every day in corporate America. And he's making the case in the geopolitical world that that asset has a lot more value here. And by the way, at the end of it, he said, if you don't want to do it, don't do it.
We'll remember. By the way, that's not a hostile act. That's an activity that most people do remember.
It's not a military action, though. I mean, judging by the reaction here in Davos and what we've heard on and off the record from the Europeans there, I mean, they're pretty—they're going to stand pretty firm against this and protect their sovereignty.
Fine. As I think Trump said, that's fine. And I think he made a good case, though, you should think about it, because in a geopolitical, politically unsettled world, that piece of real estate is more valuable if we protect it and we invest in it and we act like we're owners of it, than if you do. And then it's up to them to make that decision. By the way, we have that every day in corporate America. There's one side who thinks the asset is worth something more on their side of the table than the other side thinks, and those are often disagreed upon until the moment they're agreed upon.
Yeah, it just doesn't happen with the world's two biggest economies.
The interesting part is, if you read history, it happens more than you think. I was saying I'm one of the few people, probably at Davos, that got born into 48 states, not 50. And it's hard to believe that, you know, I was two years old when it happened.
He said from the stage he felt old too.
Yeah, well, I don't feel old. I just—
I just have to say I was around when there were 48 of them, and it's kind of hard to think of adding a state. But we did it. Yeah. And things happen. And again, I'm not—I'm not pushing either way. But I think he made a good case of that. And the second point that I think was very important is he went out of his way, and I think he did it in Davos on purpose. And I agree with him on one thing: energy, cheap, accessible energy is the key to civilization. It is the key to bringing people to the middle class. That's how the United States got where they are with the discovery of oil and cheap, accessible energy for most people for production and manufacturing. And I really think he wanted Europe to hear it from him. I don't recognize you—you just heard that on your feed. And I think it's because he went out to point out that you've destroyed your energy policy. I know he calls it the Green New Scam, but yes, you do have to look at Europe and say their choices on energy policy have put them in the position they're in right now, which is fairly weak economically and in a global position. And I thought he made a very good case for that.
So does it diminish the appeal of doing business in Europe? I mean, as you just heard, Secretary Lutnick, that European stock market has actually been outperforming the US stock market of late, and their economy, while it's not growing as fast as the US economy, is actually resilient to some of these threats.
