Kontrarian Korner #76 - Rudy Havenstein

Yesterday I had Rudy Havenstein back on the podcast to discuss what is going on in the world, markets, and of course, we also talked about inflation. He’s full of a bunch of interesting information, anecdotes, and stories on financial markets, politics, and current events. Listeners will learn a thing or two and be entertained along the way, but for anyone interested in the intersection of markets, politics, inflation, and the Federal Reserve, this one’s for you. You can find Rudy’s Substack below, and he is one of the most entertaining follows on Twitter.

Podcast Summary

* Inflation, and the difference between cost levels and the rate of change.

* Why there is nothing capitalist about the Federal Reserve, and how what happened in 2008 and 2020 led us to where we are today.

* The political divide in the country, and why he criticizes both sides.

* Why he expects we will see more politicians like Mamdani.

* The religious void in the culture that people are looking to fill, and the campaign to destroy the nuclear family.

* Why he is a free speech absolutist.

* Private credit, real estate, and the problems with reaching for yield.

* Foreign influence over US politics, and how most Americans are anti-war.

* Why he doesn’t see a lot of opportunities in the market today.

* Why the market won’t go back to allocating capital based on valuations and fundamentals until you put a leash on The Fed and get rid of the notion of “Too Big To Fail.”

* Book Recommendation: Weird Scenes Inside The Canyon by David McGowan.

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