

The Market Has Moved from Deflation to Debasement | Warren Pies
This Other People’s Money episode is brought to you by VanEck.
Learn more about the VanEck Semiconductor ETF (SMH): http://vaneck.com/SMHMax
Learn more about the VanEck Fabless Semiconductor ETF (SMHX): vaneck.com/SMHXMAx
Warren Pies, strategist and co-founder at 3Fourteen Research joins Other People’s Money to discuss how the market and economy are transitioning from a deflation to a debasement mindset. He explains why he’s bullish equities, expecting continued disinflation despite his longer-term debasement view, and expecting the Fed to cut 3 times before the end of the year while the economy avoids recession. Pies also looks back on his launching his first year as an ETF fund manager.
Follow Warren on X: https://x.com/WarrenPies
Follow Max on X: https://x.com/maxwiethe
Follow Other People’s Money on:
Apple Podcast https://bit.ly/4e7QJ1M
Spotify https://bit.ly/3Yhaazi
YouTube https://bit.ly/3C63VXR
X https://x.com/opmpod
An investment in the VanEck Semiconductor ETF (SMH) and VanEck Fabless Semiconductor ETF (SMHX) may be subject to risks which include, among others, risks related to investing in the semiconductor industry, special risk considerations of investing in Taiwanese issuers, equity securities, small-, medium and large-capitalization companies, foreign securities, emerging market issuers, foreign currency, depositary receipts, issuer-specific changes, market, operational, index tracking, authorized participant concentration, new fund, no guarantee of active trading market, trading issues, passive management, fund shares trading, premium/discount and liquidity of fund shares, non-diversified, and index-related concentration risks, all of which may adversely affect the Fund. Small, medium and large-capitalization companies may be subject to elevated risks. Emerging market issuers and foreign securities may be subject to securities markets, political and economic, investment and repatriation restrictions, different rules and regulations, less publicly available financial information, foreign currency and exchange rates, operational and settlement, and corporate and securities laws risks.
Investing involves substantial risk and high volatility, including possible loss of principal. An investor should consider the investment objective, risks, charges and expenses of a Fund carefully before investing. To obtain a prospectus and summary prospectus, which contain this and other information, call 800.826.2333 or visit vaneck.com. Please read the prospectus and summary prospectus carefully before investing.
© Van Eck Securities Corporation, Distributor, a wholly owned subsidiary of Van Eck Associates Corporation