Animal Spirits Podcast

Talk Your Book: Animal Spirits Live

8 snips
Nov 25, 2024
Guest
Alex Morris
Alex Morris, Chief Investment Officer of F/m Investments, brings his expertise to the discussion, diving into intriguing financial trends. He explores why investors are clustered on the short end of the curve and examines the surprising rise in rates after a Fed cut. Morris also sheds light on the tight credit spreads and shares his thoughts on avoiding hedge fund manager advice. The conversation touches on the dynamics of money markets, the shift to private credit, and the government's approach to managing rising debt. A captivating blend of investment insights!
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INSIGHT

Reluctance to Risk Assets

  • Investors are hesitant to move into risk assets despite higher yields on government bonds.
  • A 4.5% nominal return and 6.5% on TIPS isn't enough to entice savers.
INSIGHT

Market Euphoria and Safe Havens

  • Market euphoria coexists with large sums of money flowing into T-bills and money markets.
  • This suggests diverse money sources and a potential for continued market growth.
INSIGHT

Yields and Repositioning

  • The rise in yields may be due to investors repositioning after incorrect recession predictions.
  • This repositioning, rather than fear, is a positive market indicator.
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