The Julia La Roche Show

In this conversation, Julia interviews Sallie Krawcheck, the CEO and founder of Ellevest, about the economy, the role of women in finance, and the retirement crisis. Sallie shares her assessment of the economy and markets, emphasizing the importance of long-term investing and the historical growth of the stock market. She also discusses the significant impact women had on the economy in the past year and the growth of Ellevest as a platform for women's wealth-building. Sallie reflects on her initial skepticism about starting a women-focused investing firm and the importance of overcoming imposter syndrome with a growth mindset. The conversation concludes with a shared love for their alma mater, UNC, and a reminder to support and promote women in finance. Takeaways Long-term investing in the stock market has historically delivered strong returns, making it a scalable way to build wealth. Women played a significant role in the economy in the past year, defying stereotypes and embracing their spending power. The retirement crisis disproportionately affects women, who have less wealth and live longer than men. Women tend to be better investors than men, as they are less likely to panic and trade frequently. Men have a crucial role to play in advancing gender equality and supporting women's financial empowerment. Chapters 00:00 Introduction and Gratitude 00:46 Assessment of the Economy and Markets 03:12 The Role of Women in the Economy 04:48 Update on Ellevest 07:33 Sallie's Initial Skepticism and Change of Perspective 10:26 The Retirement Crisis and its Impact on Women 12:48Women's Investment Behavior and Performance 16:02 Regional Banking Crisis and Risks 20:01 Incentive Structures for Bank Executives 20:48 The Role of Men in Advancing Gender Equality 23:57 Overcoming Imposter Syndrome with a Growth Mindset 25:33 Shared Love for UNC and Closing Remarks

Dr. Charles Calomiris, Henry Kaufman Professor of Financial Institutions Emeritus at Columbia Business School, discusses the state of the economy, fiscal challenges in the US, and the potential for a fiscal dominance problem. He emphasizes the need for political leadership and accountability, suggests taxing the banking system as a solution, and highlights the importance of addressing long-term fiscal challenges to avoid a future crisis.

Tom Lee, Managing Partner and Head of Research at Fundstrat and FS Insight, shares his 2024 market outlook. He predicts S&P 500 will end at 5,200, small caps could outperform and rally up to 50%, and bullish outlook on Bitcoin. The successful call for 2023 was based on belief in transitory inflation and collapsing volatility. Lee discusses misconceptions about inflation and non-profitable companies in the Russell 2000 index. He also explores the role of psychology in investing and factors contributing to Bitcoin's growth.

Former hedge fund manager Felix Zulauf predicts a drop in equities due to a recession, warns passive investors of low or negative total returns in the next decade. He comments on the concentration of fund managers and shares his concerns about a shocking crisis in the late 2020s. Zulauf discusses the potential for high inflation rates, fiscal problems, and the role of gold in the future currency system.

Grant Williams, author of 'Things That Make You Go Hmmm...' and host of The Grant Williams podcast, joins Julia La Roche for a wide-ranging conversation on macro. They discuss the importance of being ready for a recession and a soft landing, the impact of Japan's monetary policy on financial markets, the worldviews of different generations, and the potential for conflict. Grant also shares his thesis on gold and the problems with the CPI.

Liz Ann Sonders, Chief Investment Strategist for Charles Schwab, discusses the macro picture, asset class behavior, active management, Federal Reserve outlook, interpreting economic data, the yield curve and recession, the bond market vs. equity market, and lessons from Marty Zweig. Key takeaways: rolling recessions in different sectors, bond yields and stock prices relationship, importance of active management, Fed in pause mode, challenges in interpreting economic data, bond market's caution, and lessons from monetary policy and sentiment analysis.

Angel investor and entrepreneur Jason Calacanis, “The World’s Greatest Moderator” and co-host/Bestie of All-In Podcast, joins Julia La Roche on episode 125 for a wide-ranging discussion. Calacanis, affectionately known as “J-Cal,” is one of the best angel investors in the world, having turned $100,000 into $100,000,000, with early investments in Uber, Calm, Robinhood, Wealthfront, and more. He co-hosts the popular All-In Podcast alongside Chamath Palihapitiya, David Sacks, and David Friedberg. The conversation covers various topics, including the despicable display on Capitol Hill, the meaning of being an American, the impact of abundance on society. They also get into the breakout success of the All-In Podcast, interviewing presidential candidates, and how the show is leaving millions on the table by not having advertising.  In the conversation, Julia learns how Jason came to own the first Tesla Model S and 16th Roadster. They also got into some of the media scrutiny of Musk. In this conversation, Julia and Jason discuss the rise of independent creators and the shift away from traditional media networks. They explore the advantages of being an independent content creator and the potential for greater financial success.  Elsewhere, Jason shares his journey to success, highlighting the importance of hard work, seizing opportunities, and understanding every aspect of one's field. They also discuss finding purpose and joy in life, the power of partnerships, and the future of the All-In Summit.  Links:  Twitter/X: https://twitter.com/Jason The All-In Podcast: https://www.allinpodcast.co/ This Week In Startups: https://thisweekinstartups.com/ Newsletter: https://calacanis.substack.com/ Launch: https://www.launch.co/ Angel University: https://www.angel.university/online More links: https://linktr.ee/calacanis/ 0:00 Welcome Jason Calacanis  2:14 Antisemitism on college campuses, Harvard, MIT, and UPenn on Capitol Hill 6:20 Identity politics madness is coming to an end  850 Why has America drifted?  10:50 Democracy + capitalism  13:20 Get rid of the victim mentality  15:55 Hard work pays off, keep adding skills  20:14 Success of the All-In Podcast  23:00 Presidential candidates on the All-In Podcast  26:30 All-In Summit  28:40 All-In leaving $25 million on the table  29:35 Elon Musk and how Jason got the first Tesla Model S 35:14 Media scrutiny of Musk 40:50 Podcasting and rise of independent creators  43:50 Power of going the independent route  54:40 Jason’s background and journey to success 54:00 Finding purpose and joy 56:20 Besties and the power of partnerships 

Michael Howell, CEO of CrossBorder Capital, discusses the global liquidity cycle, the increasing liquidity, and why gold could surge to $3,000. Topics include global liquidity index, gold as an inflation hedge, breakout moment for Bitcoin, portfolio construction, and recession possibility.

Cullen Roche, CIO of Discipline Funds and author of Pragmatic Capitalism, returns to The Julia La Roche Show for episode 123.  Going into 2023, Cullen’s big call was disinflation, which was a largely correct call. In this episode, Cullen shares his views that it might take a full year for the Federal Reserve to hit the 2% target. Because of that, the Fed can’t start signaling rate cuts without risking a resurgence in inflation. Therefore, Cullen believes the Fed will remain tighter well into 2024, increasing the risk of a hard landing or credit event as we get deeper into 2024. Links: Twitter/X: https://twitter.com/cullenroche Discipline Funds: https://disciplinefunds.com/ Is The S&P 500 Broken? https://disciplinefunds.com/2023/11/21/is-the-sp-500-broken/ Pragmatic Capitalism: https://www.amazon.com/Pragmatic-Capitalism-Every-Investor-Finance-ebook/dp/B0B4V1KHVD 0:00 Welcome Cullen Roche to the show  1:03 Macro view  5:44 Real estate  10:13 How resilient is the economy really?  13:33 Disinflation call, 2024 outlook, road to 2% more difficult  17:29 Expect Fed to hold rates tight 18:23 Opportunities in bonds 20:28 Stock market is a 17-year instrument, duration of other asset classes  26:50 Allocating in this environment  30:00 Is the S&P 500 broken, are there hidden risks?  Marlinski Media produces the Julia La Roche Show: https://www.marlinskimedia.com/

Charles Payne, host of FOX Business Network’s (FBN) Making Money with Charles Payne (weekdays 2-3PM/ET), joined Julia La Roche on episode 122 to discuss his newest book, "Unbreakable Investor." Charles began his career on Wall Street as an analyst at E.F. Hutton in 1985. In 1991, he founded Wall Street Strategies, an independent stock market research firm where he serves as chief executive officer and principal analyst. He published his first book, "Be Smart, Act Fast, Get Rich" in May 2007, and "Unstoppable Prosperity: Learn the Strategy I’ve Used for Years to Beat the Market" in 2019. He joined FOX News Media as a contributor in 2007 and provides financial analysis across FBN and FOX News Channel. Links: Twitter/X: https://twitter.com/cvpayne Wall Street Strategies: https://www.wstreet.com/ Unbreakable Investor: https://www.unbreakableinvestor.com/ 0:00 Intro and welcome Charles Payne 1:24 Big picture view, bifurcated economy and markets  2:51 Recession  4:15 Unbreakable Investor  6:34 Stock market  10:13 Roaring 2020s  12:28 Leadership  15:30 Outlook on the U.S.  19:30 Charles’ journey to Wall Street  25:50 Closing thoughts  The Julia La Roche Show is produced by Marlinski Media: https://www.marlinskimedia.com/