The uranium shortage has been building for years and years already. A lot of it comes from places that are either Russia or Russian controlled. There's very few high quality ways to play uranium, but at this point I think the actual physically uranium looks like a better play. We actually are backing off a little bit on some of our precious metals holding given the run that they've had. And also, because what we talked about earlier, I do believe that markets making a mistake in reading in a bad pivot too soon.
Rebecca chats with David Hay. Together, they engage in conversation regarding David's market outlook for 2023, the reasons behind his belief in an earnings recession, and various other topics.
David Hay is a longtime investment advisor, where he is currently the Chief Investment Officer at Evergreen Capital. He is also a financial author and recently wrote the book titled: Bubble 3.0: History’s Biggest Financial Bubble.
IN THIS EPISODE, YOU’LL LEARN:
00:00 - Intro
04:51 - Why David believes we will have an earnings recession and markets have yet to price this in.
09:55 - How the tremendous amount of government debt that needs to be issued and rolled over could mean interest rates go up in a recession.
13:41 - Why David believes we could see inflation come back.
17:45 - What impact China’s reopening could have on the US economy and the Fed’s goal of achieving a “soft landing”.
23:47 - David’s outlook on energy and why thinks we could see a third year of outperformance.
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