Monetary Matters with Jack Farley

Aahan Menon, an expert in systematic macroeconomics at Prometheus Macro, advises on hedge fund strategies. He discusses the limited impact of tariffs on corporate profits and the economy, emphasizing a need for integrating market data with macro fundamentals. The conversation highlights the intriguing relationship between stock momentum and economic trends, suggesting current negative signals could present buying opportunities. Menon also dissects GDP growth predictions and the resilience of consumer spending amid cautionary corporate signals, stressing the complexities of navigating today's market dynamics.

Michael Howell, an expert on global liquidity and asset markets, dives deep into the ongoing liquidity crisis. He warns of potential squeezes unless central banks step up their game. Howell discusses China's new gold yuan mechanism and critiques U.S. Treasury policies, drawing parallels to past economic strategies. The conversation also touches on looming tariffs and their uncertain impact on growth, alongside strategies for navigating today's market volatility with a focus on short-duration treasuries and gold investment.

Moez Kassam, CIO and Founder of Anson Funds, discusses his hedge fund's remarkable 15% annualized returns since 2007. He delves into the art of short-selling and shares innovative equity strategies developed during the 2008 financial crisis. Kassam emphasizes the importance of teamwork in investment success and reveals how they adapt to market shifts, including trends in SPACs and cryptocurrency. He also highlights the significance of building long-term relationships with investors and intertwines financial acumen with philanthropy, showcasing the transformative power of support.

Julian Brigden, co-founder of Macro Intelligence 2 Partners, dives into the future of the U.S. dollar and its impact on global markets. He predicts a decline in the dollar as U.S. fiscal policies shift, pushing investors towards international stocks, especially in Europe and Australia. Brigden also discusses the troubling U.S. trade deficits and the country's growing reliance on foreign investments. Amidst fears of economic turbulence, he shares strategies for navigating the shifting landscape, emphasizing the importance of long-term investment approaches.

Recent U.S. stock declines have sparked a bearish outlook, while confidence in Chinese equities remains strong. The duo explores how tariff uncertainties impact markets, consumer behavior, and GDP. They delve into disheartening job market data, hinting at potential weaknesses ahead due to government efficiency measures. Private equity fundraising is down, contrasting sharply with a robust credit market. The conversation also touches on misconceptions in stock valuation, emphasizing the need to balance fundamentals with market sentiment.

Jonny Matthews, a former partner at Brevan Howard and current portfolio manager at Fordham Capital, dives into the economic implications of tariffs, emphasizing their role in driving inflation and affecting growth. He discusses market trends, particularly the bearish outlook for the S&P 500, and the complex dynamics of currency markets, including the dollar-yen exchange rate. Matthews also highlights gold's increasing importance as a safe asset amid global uncertainties, making a case for cautious investment strategies in today's volatile landscape.

Eric Wallerstein, Chief Markets Strategist at Yardeni Research, discusses his optimistic outlook on the U.S. economy amidst a potential second Trump administration. He explores the complexities of tariffs, highlighting their potential benefits for U.S. companies. Wallerstein analyzes how AI could transform the labor market, improving productivity while addressing worker shortages. He also delves into the evolving role of Bitcoin and cryptocurrencies, emphasizing their growing credibility as viable alternatives in the financial landscape.

Alan Strauss, a senior partner at Crystal Capital Partners and expert in alternative investment strategies, dives into the growing trend of alternative investments for individual investors. He discusses how platforms like Crystal Capital are changing the game by offering lower investment minimums and customized solutions for registered investment advisors. The conversation also touches on the challenges smaller fund managers face, the shift towards private markets, and the importance of active management in this evolving landscape.

Lionel Barber, former editor of the Financial Times and author of 'Gambling Man,' discusses the audacious journey of Masayoshi Son, showcasing his bold moves in technology and finance. Barber details Son's risk-taking strategies, from investing in Alibaba to the pitfalls of WeWork. The conversation delves into SoftBank's transformation and its ambitious AI goals, exploring the geopolitics of East and West, and the financial innovations during Japan's recession. Barber highlights Son's vision for creating a vast AI empire and the balancing act of navigating international markets.

Jean-Baptiste Wautier, a seasoned expert in private markets with experience at top firms like Morgan Stanley and BC Partners, dives into the evolving landscape of private equity and credit. He reveals insights on keyman risk and the trend of consolidation in the market. Wautier discusses the slowdown in fundraising, the dynamics of private credit, and the concept of perpetual capital for stability. He also explores the impact of AI on the economy and private equity's accessibility to retail investors, painting a vivid picture of future market shifts.