On Thursday I had Russell Clark on the podcast for the first time for a great conversation. We talked about the US financial markets looking like an emerging market, how politics drives financial markets, and some of the things he’s watching right now. We also talked a little bit about the launch of his new fund, Brumby Capital.
Podcast Summary
* How the US is behaving like an emerging market, and how financial market correlations might change moving forward.
* Why Treasuries aren’t behaving like a safe haven, and the path to double digit interest rates.
* The political drive to rebalance financial markets.
* Where things lead for private equity and private credit, especially with higher rates.
* The trend of Gold vs. TLT and Gold vs. S&P 500.
* Oil, LNG, and the interactions between the different parts of the energy sector.
* Geopolitics in the Middle East and Ukraine, and some of the different powerful factions in each region.
* Europe and Japan remilitarizing.
* Securing supply lines and the change from globalization to deglobalization.
* The complicated relationship between the US and China, and where things might be headed from here.
* His plans for Brumby Capital, which he is in the process of launching now.
* Book Recommendation: Age of Extremes by Eric Hobsbawm.
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