Monetary Matters with Jack Farley

Jon Caplis, CEO of Pivotal Path, sheds light on the hidden challenges in hedge fund data reporting. He reveals how leading hedge funds underreport data, distorting perceived returns and discouraging institutional investment. Caplis argues this could drop returns by about 400 basis points annually. He discusses Pivotal Path's innovative approach to rectify these issues and shares insights on the evolving hedge fund landscape, emphasizing the need for improved transparency and communication with investors.

Citrini, a keen trader and investor with a focus on emerging technologies, delves into the next waves of AI and robotics. He highlights key opportunities within the semiconductors sector, particularly concerning Teradyne's advancements. The discussion spans China's tech landscape and the undercurrents shaping healthcare investments. Citrini also reviews his '25 Trade Ideas' and unveils promising stocks to watch, making a compelling case for strategic investment as the market evolves.

Oren Cass, chief economist at American Compass and author of The New Conservatives, argues that globalization has harmed American workers and emphasizes the need for tariffs to correct trade imbalances. He critiques free trade advocates, highlighting overlooked consequences like job losses and economic decline. The discussion includes the complexities of globalization, the effects on American industry, and the importance of aligning tariffs with public goals to support domestic manufacturing and create dignified jobs.

Warren Pies, strategist and co-founder of 3Fourteen Research, discusses the economy's shift from deflation to debasement, sharing his bullish outlook on equities while predicting Fed interest rate cuts. He emphasizes the importance of diversified investment strategies amidst rising costs and traces trends in foreign investment in U.S. Treasuries. The conversation also dives into how AI technology drives market momentum and explores core versus satellite investment strategies, advocating for a research-driven approach to navigate today’s economic landscape.

Danielle DiMartino Booth, CEO and chief strategist at QI Research, delves into the chances of a double dip recession resembling the 1980-1981 economic crisis. She analyzes the precarious labor market and rising layoffs, suggesting early signs of recession. The conversation touches on the Federal Reserve's interest rate strategy and the implications of tariffs on corporate strategies. Booth also discusses trends in bankruptcy across financial sectors and current market sentiments surrounding the dollar, AI investments, and gold.

Sam Stovall, CFRA Research’s U.S. Equity Strategist, shares his insights on market dynamics and bullish sentiment for U.S. equities. He discusses the critical factors influencing performance in the third year of a bull market, emphasizing sector overweights like technology and healthcare. Stovall also highlights trends among insurance companies and the overall challenges within health insurance stocks. With an optimistic outlook for the S&P 500, he underscores the importance of diversification and smart investment strategies.

Abdul Al-Asaad, CEO and co-founder of Basic Capital, is reshaping how everyday Americans can leverage their 401ks for investment. He discusses the dangers of unproductive credit use and advocates for positive leveraging to build wealth. Al-Asaad explains how Basic Capital's term financing invests primarily in private credit, emphasizing that inaction could be riskier than making leveraged investments. He also sheds light on the fee structure and the need to revolutionize credit access, particularly to enhance retirement savings.

Joseph Cavatoni, Senior Market Strategist at The World Gold Council, dives into the global gold market's latest trends. He reveals a significant rise in gold purchases by central banks, highlighting the strong demand from Asian and European investors. Cavatoni also discusses the evolving role of gold as a hedge against inflation and the challenges of U.S. mining regulations. The conversation addresses the importance of gold versus cryptocurrencies like Bitcoin and explores the impact of small-scale mining on the environment.

Eric Pachman, Chief Analytics Officer at Bancreek Capital Advisors, dives into the critical role of the healthcare sector in U.S. job growth. He warns that proposed cuts to Medicaid could destabilize this sector, risking a recession. The conversation touches on the intricate challenges of drug pricing, the influence of pharmacy benefit managers, and how financial pressures affect healthcare policies. Pachman advocates for greater transparency and reform in the industry, emphasizing how these changes could safeguard both employment and economic stability.

Tian Yang, CEO of Variant Perception, brings a wealth of knowledge on global economic dynamics. He discusses the rising global imbalances, the complexities surrounding the U.S. Dollar's status, and emerging market opportunities. Yang highlights the challenges facing U.S. homebuilders and the potential implications of a weakening dollar for international investments, particularly in Asia and Latin America. He also delves into the necessity of adapting investment strategies amidst macroeconomic uncertainties, emphasizing his data-driven approach.