In this episode, Alfonso Peccatiello, a renowned macro investor, joins the ReSolve team to delve into the macro end game, the impact of leverage on the financial system, and the potential paths forward. They also discuss the role of politicians in managing fiscal interventions and the increasing volatility in the macro environment.
Topics Discussed
• The concept of the macro end game and the unsustainability of the current financial system
• The role of leverage in offsetting dwindling structural growth and its implications for the global economy
• The impact of central banks' decisions to stimulate economic growth by lowering interest rates
• The wealth illusion effect and its implications on the U.S. economy
• The potential paths forward considering the high levels of debt and low interest rates
• The shift from anti-cyclical to pro-cyclical use of fiscal policy by politicians
• The need for a global macro framework in asset allocation considering the current high-leverage, high-interest rate environment
• The launch of Alfonso's global macro hedge fund and its strategy to navigate the increasing macro volatility
This episode is a must-listen for anyone looking to understand the complexities of the global financial system, the role of leverage and fiscal policy, and strategies to navigate the increasing macro volatility. Alfonso's insights provide valuable strategies for navigating the uncertain financial landscape and understanding the potential paths forward.
This is “ReSolve’s Riffs” – published on YouTube Friday afternoons to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management.
*ReSolve Global refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global is a registered person with the Cayman Islands Monetary Authority.
