On The Tape with Danny Moses Jeff deGraaf: The Market That Continues To Defy Gravity
Oct 22, 2025
Jeff deGraaf, founder of Renaissance Macro Research, discusses his insights on financial markets with a focus on macroeconomic conditions. He shares his career journey, highlighting key moments leading to the 2007-08 crisis. The conversation dives into sector trends like private equity and small caps, as well as technical analysis of gold's recent surge. Jeff evaluates potential bubbles and the implications of Federal Reserve policies on current market dynamics. He also shares RenMac's strategic approaches to investing and market research.
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Leaving Lehman Before The Crisis
- Jeff described leaving Lehman in Feb 2007 near the stock-price high and noticing cultural shifts in fixed income that worried him.
- He highlighted colleagues resigning for family reasons as an early "uh-oh" sign before the crisis.
How Offscript Podcast Began
- RenMac's 'Offscript' started as a Friday internal discussion to vet ideas and became a recorded client podcast.
- The partners use it to challenge each other's views and surface cross-discipline risks informally.
Watch Financials And PE For Early Tells
- Financials look like a B-minus: relative uptrend but signs of distributive topping in insurers and PE stocks.
- Private equity names are rolling earlier and may indicate credit weakness under the surface.