The Millennial Investing Podcast - Robert Leonard and Rebecca Hotsko

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David Hay: The typical individual investor's account is down 38% for what was last year. Hay says there just seems to be an awful lot of denial, but certainly no panic or capitulation in the market. He adds that we're seeing inflows into equity funds and Kathy Woods' Arc Innovation Fund despite its 80% drop from its peak.

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.

27:12 - David’s investment thesis behind USO, Shell PLC and CTRA.

40:18 - David’s outlook on the uranium sector and thesis on Sprott Physical Uranium Trust.

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members.
Check out David’s financial writings: Haymaker.
Check out David’s book: Bubble 3.0: History’s Biggest Financial Bubble (audiobook on Awesound) USE DISCOUNT CODE: MINVEST33
Related Episode: Listen to MI231: Bubble 3.0 History’s Biggest Financial Bubble w/ David Hay , or watch the video.

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