Real Vision: Finance & Investing

DB-July15-2021: Jared Dillian of the Daily Dirtnap joins Real Vision’s Ash Bennington and Jack Farley on the Daily Briefing to discuss a pandemic low for jobless claims and market reactions to recently released manufacturing surveys. The trio takes a look at the labor market dichotomy between jobless claim decreases and labor shortages. Dillian shares his perspective on sectors he is watching as FED governors voice their support for tapering talks. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Crypto Wednesday: Ash Bennington, Real Vision senior crypto editor, hosts Bitcoin developer, educator, and entrepreneur Jimmy Song to discuss how his thoughts on Bitcoin have been evolving over the last year, its future, alt-season, and the path to decentralization. Song states that value is not intrinsic, but rather subjective, and is the utility an individual can derive out of it. He explains that scarcity also factors into value, particularly money, and in that regard, Bitcoin is the ultimate store of value. As the current monetary system has a constant flow of money pushed through the economy at a high velocity, thereby creating wealth, Song explores how any form of solitary money would lose value in this system and how long-term stores of value such as real estate, stocks, and gold have power consolidated among only a few, which makes this system flawed. On the other hand, Bitcoin does not have any of these problems.Recorded on May 10th, 2021.Key Learnings: Song states Bitcoin is a savings technology, one that can be used over a long period of time. This, in turn, allows societies to focus on improving the future. Within the current monetary system, continual currency debasement, re-investment, and losses due to transactional fees can burden individuals too heavily in retaining the value of their money and can prevent society from bringing new goods and services to the market. Song believes Bitcoin is a civilization building technology, which can enable society to flourish in new and exciting ways. Learn more about your ad choices. Visit podcastchoices.com/adchoices

DB-Jul 13,2021: Tommy Thornton, president at Hedge Fund Telemetry, joins the Daily Briefing to discuss the CPI print released today, equity pricing, and earnings season. Thornton, along with Real Vision’s Ash Bennington, examines the effect that the CPI print will have on the FED’s dovish commitment to the economy. Additionally, the pair looks at how different markets are reacting to the high consumer price index figure and if sentiment is changing towards inflation. Learn more about your ad choices. Visit podcastchoices.com/adchoices

DB-Jul12,2021: Darius Dale, founder and CEO of 42 Macro, joins the Daily Briefing to discuss his updated outlook on inflation expectations and market sentiment as the S&P 500 hits a new intra-day high. Dale joins Real Vision’s Ash Bennington and Samuel Burke to examine the results of the New York Fed’s Consumer Survey for inflation expectations. Additionally, the trio looks at the possibility of an ECB policy shift as it looks to continue its monetary stimulus to support Europe’s reopening economy. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Real Vision Live Replay: The risk of inflation is clearly one of the top market narratives for 2021, and many investors are buying in. But how do you actually build a portfolio to benefit from inflation? Whether it's energy, real estate, precious metals, or soft commodities, everyone seems to have a different answer. James Davolos, portfolio manager and research analysts at Horizon Kinetics, is responsible for doing just that, in their fund $INFL. In this interview with Ed Harrison, he explains his framework for building a diversified portfolio that benefits from inflation. Davolos also explains what inflation means to him and how he measures it, as everyone seems to have a different definition of what inflation actually is and how best to measure it. Learn more about your ad choices. Visit podcastchoices.com/adchoices

The Interview: Imran Lakha of Options Insight and Brent Kochuba of SpotGamma are veterans of the options market, and they join Real Vision to shed light on how options exert a hidden pressure on the stock market. Most associate the phrase “gamma squeeze” with GameStop, but Kochuba notes that gamma squeezes are very common, noting the various ways in which dislocations in dealer gamma can drive price action in indices such as the S&P 500 but also in single-name equities like Tesla and Apple. He describes his quantitative method to identify levels of gamma resistance in single-name equities and index futures, using detailed charts levels to spot what he names "call walls" and "volatility triggers." Kochuba and Lakha make sense of the drastic transformation the options market has undergone over the past year, and they speculate on the future of this highly sophisticated asset class. Lastly, Lakha shares with Kochuba his findings in the nascent world of crypto derivatives.Recorded on May 3rd, 2021.Key learnings: The explosion in single-stock option volumes means that options are now playing a huge role in driving price action in the equity market. Kochuba argues that this new environment offers the venturesome trader an opportunity to exploit the option market makers' to hedge their exposure. Lakha notes that Bitcoin and Ethereum exhibit call skew, which offers opportunities that are rarely seen in traditional capital markets. Lakha's website is https://www.options-insight.com/ and Kochuba's analysis can be found here: https://spotgamma.com/. Learn more about your ad choices. Visit podcastchoices.com/adchoices

The Interview: Dario Perkins, managing director of macro at TS Lombard, argues that we are seeing a global regime shift in economic policy from monetary dominance to fiscal dominance. In this interview with Real Vision managing editor Ed Harrison, Perkins explains how this change will have wide-ranging implications for economies and financial markets. He sees Modern Monetary Theory (MMT) as instrumental as the "software" for making this shift possible. But although he welcomes change, Perkins believes the endgame for this structural break is inflation. In the medium-term, that will mean greater economic growth, gently rising bond yields, and a return to value over growth in equity markets. But eventually, down the line, inflation will set in. Perkins believes gold is the hedge for that outcome.Recorded on April 29, 2021. For more on Dario Perkins' background, click here: https://www.tslombard.com/dario-perkins. TS Lombard's website can be found here: https://www.tslombard.com/. Learn more about your ad choices. Visit podcastchoices.com/adchoices

CB-Jul09,2021: The 8-day rally in U.S. Treasury bonds finally breaks as global equities take back much of yesterday’s sell-off. Real Vision’s Ash Bennington, Weston Nakamura, and Jack Farley analyze today’s price action, as well as how the surge in job openings surge in the U.S. is reshaping dynamics in the American labor market. Lastly, Weston shares his thinking on correlations between U.S. bond yields and price swings in $AMC and other meme stocks. Learn more about your ad choices. Visit podcastchoices.com/adchoices

DB-Jul08,2021: Peter Boockvar, chief investment officer of Bleakley Advisory Group, joins Real Vision’s Samuel Burke and Jack Farley to make sense of the risk-off sentiment that dragged down almost every stock index worldwide deep in the red. Boockvar scrutinizes the U.S. bond market and attributes the violent flattening of the yield curve to the FOMC meeting earlier this month that rocked market participants. He tells Burke and Farley how the churning of certain reflation trades in light of the Delta Variant is affecting his perspective on energy, copper, precious metals, as well as equity markets in Developed Asia. Learn more about your ad choices. Visit podcastchoices.com/adchoices

DB-Jul07,2021 :Darius Dale, founder and CEO of 42Macro, joins the Daily Briefing to discuss his updated outlook on FAANG stocks, the retreat from Chinese tech stocks, and the release of the FED’s FOMC minutes. Bianco joins Real Vision’s Jack Farley and Samuel Burke to discuss the rise in tech stocks as bond yields fall to a 4-month low. Additionally, the trio analyzes DIDI’s situation amidst Chinese regulation and the minutes from the latest FOMC meeting released today Learn more about your ad choices. Visit podcastchoices.com/adchoices