WTFinance

Interview recorded - 7th of November, 2023On this episode of the WTFinance podcast I have the pleasure of welcoming back Marc Faber for a third time. Marc is a well known contrarian investor & the Editor and Publisher of the “Gloom, Boom & Doom Report”.During our conversation we spoke about whether Marc still believe there will be a bear market, shift to short duration assets, how the FED is loosening monetary policy, what central bankers should be doing, regions that Marc is interested in & how to invest in emerging markets. I hope you enjoy!0:00 - Introduction2:06 - Could we still see a decade long bear market?6:12 - Shorter term duration to benefit?9:32 - Why has unemployment remained low if in a recession?12:25 - When will data show a recession?14:10 - How is the FED loosening monetary policy and reducing real wages?19:45 - Money is tight in the real economy21:30 - Higher inflation for longer26:25 - What should central bankers do?29:15 - What changes would Marc make if he were FED chair?30:00 - Regions Marc is watching31:45 - How do you invest in emerging markets?33:05 - Marc’s thoughts on Indonesia, Mexico & Argentina?34:34 - One message to takeaway from conversation?Dr Marc Faber was born in Zurich, Switzerland. He went to school in Geneva and Zurich and finished high school with the Matura. He studied Economics at the University of Zurich and, at the age of 24, obtained a PhD in Economics magna cum laude.Between 1970 and 1978, Dr Faber worked for White Weld & Company Limited in New York, Zurich and Hong Kong. Since 1973, he has lived in Hong Kong. From 1978 to February 1990, he was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In June 1990, he set up his own business, publishing a widely read monthly investment newsletter “THE GLOOM BOOM & DOOM” report which highlights unusual investment opportunities.He is also the author of several books including “TOMORROW’S GOLD – Asia’s Age of Discovery” which was first published in 2002 and highlights future investment opportunities around the world. “TOMORROW’S GOLD” was for several weeks on Amazon’s best seller list and has been translated into Japanese, Korean, Thai and German.Dr. Faber is also a regular contributor to several leading financial publications around the world.A book on Dr Faber, “RIDING THE MILLENNIAL STORM”, by Nury Vittachi, was published in 1998.A regular speaker at various investment seminars, Dr Faber is well known for his “contrarian” investment approach.Marc Faber -Website - https://www.gloomboomdoom.com/Twitter - https://twitter.com/gloomboomdoom?lang=enLinkedIn - https://www.linkedin.com/in/marc-faber-gloomboomdoom/?originalSubdomain=hkWTFinance -Instagram - https://www.instagram.com/wtfinancee/Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfniTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 30th of October, 2023On this episode of the WTFinance podcast I have the pleasure of welcoming Jeff Snider - One of the foremost experts on the global monetary system and Host of Eurodollar University.During this conversation we spoke about what Jeff is seeing in the economy, what this means for the bond markets, collateral issues, why the recession has not been cancelled but delayed and what is happening in China. I hope you enjoy!0:00 - Introduction1:11 - What is Jeff seeing in markets and the economy?4:13 - What is the short end doing that most aren’t considering?5:48 - Supply and demand issue for long bonds?9:13 - What is the short end tell us?11:53 - Why collateral could lead to deflation?16:18 - Increasing yields reduced collateral pool?18:23 - What impact will BoJ policy changes have on collateral?20:53 - Is there the risk that the economy has shifted?24:03 - Manufacturing PMI increasing, Service PMI decreasing?25:48 - Weak employment data coming through?27:59 - What will happen to the economy in the next 6 months?29:53 - Could we have a financial crisis?32:48 - More regional bank risk?36:58 - Can China prevent an economic meltdown?41:02 - One message to takeaway from our conversation?Jeff Snider is one of the foremost experts on the global monetary system, specifically the eurodollar money system, and all aspects of its misunderstood inner workings and how they impact global markets, commerce, and economy. His podcast - Eurodollar University - aims to educate the public on the evolution and nature, and nuances of the eurodollar system and true monetary principles. He is a regular contributor to Real Clear Markets and a columnist for the Epoch Times, and is active on Twitter as well as He has been a guest on countless programs including MacroVoices, and Real Vision for his insights into the Eurodollar system, LIBOR, and repo/securities lending markets., etc.Jeff Snider - YouTube -  @eurodollaruniversity  Website - https://www.eurodollar.university/Twitter - https://twitter.com/JeffSnider_AIPWTFinance - Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfniTunes -https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4LinkedIn - https://www.linkedin.com/in/anthony-fatseas-761066103/Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 27th of October, 2023On this episode of the WTFinance podcast I had the pleasure of speaking with Adam Rozencwajg -  Managing Partner at Goehring & Rozencwajg.On this episode of the podcast we spoke about what is happening in the energy markets, underinvestment in energy over the past decade, risk of price fluctuations, what this means for prices and more. I hope you enjoy!0:00 - Introduction1:00 - What is Adam currently seeing in energy markets?5:25 - CAPEX or Geopolitical issue in energy investment?9:58 - Would embargo impact the US?12:00 - Are the energy markets tight?13:35 - Odds of an energy embargo?16:53 - What happens with less buffer in energy markets?17:45 - Key drivers of energy demand?18:37 - What is happening in the gas markets?22:10 - US upstream equities?23:30 - Investment thesis behind uranium?27:25 - Any mines scheduled to come online in near-term?27:55 - Other commodities Adam is watching?29:08 - One message to takeaway from conversation?Currently,  Adam is the Managing Partner of Goehring & Rozencwajg, Natural Resource Investors.Adam has many years of investment experience. Between 2007 and 2015, he worked exclusively on the Global Natural Resources Fund at Chilton Investment Company with Mr. Goehring.Prior to joining Chilton Investment Company, Adam worked in the Investment Banking department at Lehman Brothers between 2006 and 2007.He holds a Bachelor of Arts degree with a major in Economics/Philosophy from Columbia University and is a CFA charter-holder. Adam Rozencwajg - Website - https://www.gorozen.com/Twitter - https://twitter.com/Go_RozenLinkedIn - https://www.linkedin.com/in/adam-rozencwajg-770614/WTFinance - Instagram - https://www.instagram.com/wtfinancee/Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfniTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 26th of October, 2023On this episode of the WTFinance podcast I had the pleasure of speaking with Michael Pento - President & Founder of Pento Portfolio Strategies. During our conversation we spoke about Michael's thoughts on current markets, why it could be stagflation or depression after a stock crash in 2024, what will happen for the dollar, whether it is possible to save the markets and assets to protect wealth during this period. I hope you enjoy!0:00 - Introduction1:09 - What is Michael’s thoughts on the market?5:28 - Indicators to pay attention to?9:00 - Stagflation period?14:53 - Deflation during the recession?17:17 - What will happen with the dollar?19:58 - Bonds to de-correlate from equities?24:50 - Is it possible to save the markets?27:43 - What assets protect wealth during that period?29:13 - Holding reverse ETFs30:28 - One message to takeaway from our conversationMichael Pento serves as the President and Founder of Pento Portfolio Strategies (PPS). PPS is a Registered Investment Advisory Firm (RIA) that operates like an actively managed fund without all the expenses. The Model Portfolio uses a proprietary macroeconomic model to determine when and how to invest across an inflation/deflation and economic cycle spectrum. The 20-component model is used to determine the two most important factors when it comes to successful investing: the second derivatives of growth and inflation.Michael Pento - Website - https://pentoport.com/Twitter - https://twitter.com/michaelpento?lang=enLinkedIn - https://www.linkedin.com/in/michael-pento-a1882917b/WTFinance Instagram - https://www.instagram.com/wtfinancee/Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfniTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 19th of October, 2023On this episode of the WTFinance podcast I had the pleasure of welcoming back Doomberg . During our conversation we spoke about whether the US is still driving enemies together, current Middle East conflict impact on energy, Europe this winter and more. I hope you enjoy! 0:00 - Introduction1:09 - Is the US continuing to drive enemies together?3:34 - Greatest risk from the middle east conflict?5:19 - Impact on energy security?8:34 - Geopolitical risks globally10:34 - What is happening in energy?12:14 - Underestimating chance of a recession in the US?14:39 - Where is the risk?16:22 - Venezuela oil a benefit?19:09 - Will Europe be ok this winter?21:58 - One message to takeaway from our conversation?The group started writing Doomberg in May of 2021 to highlight the fundamentals missing from many economic and policy decisions, and it quickly grew to be one of the most widely read finance newsletters on Substack.This publication is their passion, and the content is borne out of the team’s deep experience in heavy industry, private equity, and the hard sciences. Family offices and c-suite executives hired them to deliver innovative thinking and clarity to complex problems – they operate as though their subscribers share those same expectations.Read their full bio here - https://doomberg.substack.com/aboutDoomberg - Substack - https://doomberg.substack.com/Twitter - https://twitter.com/DoombergTWTFinance Instagram - https://www.instagram.com/wtfinancee/Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfniTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4Twitter - https://twitter.com/AnthonyFatseas

Michael Howell, Founder & MD of CrossBorder Capital, discusses the current state of liquidity markets, possibility of FED implementing yield control, diminishing returns of liquidity, and the disconnect between inflation and bond prices.

Interview recorded - 19th of October 2023On this episode of the WTFinance podcast I had the pleasure of welcoming on Jim Bianco - President and Macro strategist at Bianco Research. On this episode we spoke about increasing yields on the long end, the new normal, why this could lead to higher inflation for longer, economic indicators that Jim believes show the new normal, assets to outperform current situation and more. I hope you enjoy!0:00 - Introduction1:19 - What is Jim currently watching?5:14 - Why would a pivot increase yields on the long end?13:44 - What level will bonds have to be for the FED to intervene?17:19 - Have economist been caught of guard by the new normal?22:04 - Current economic indicators to watch?26:19 - Will fiscal spending remain the same?29:43 - What assets outperform current scenario?36:34 - One message to takeaway from our conversation?Jim Bianco is President and Macro Strategist at Bianco Research, L.L.C. Since 1990 Jim’s commentaries have offered a unique perspective on the global economy and financial markets. Unencumbered by the biases of traditional Wall Street research, Jim has built a decades long reputation for objective, incisive commentary that challenges consensus thinking. In nearly 20 years at Bianco Research, Jim’s wide ranging commentaries have addressed monetary policy, the intersection of markets and politics, the role of government in the economy, fund flows and positioning in financial markets. Jim appears regularly on CNBC, Bloomberg and Fox Business, and is often featured in the Wall Street Journal, Bloomberg News, Grants Interest Rate Observer, and MarketWatch. Prior to joining Arbor and Bianco Research, Jim was a Market Strategist in equity and fixed income research at UBS Securities and Equity Technical Analyst at First Boston and Shearson Lehman Brothers. He is a Chartered Market Technician (CMT) and a member of the Market Technicians Association (MTA). Jim has a Bachelor of Science degree in Finance from Marquette University (1984) and an MBA from Fordham University (1989).Jim Bianco - Website - https://www.biancoresearch.com/visitor-home/Twitter - https://twitter.com/biancoresearchYouTube -  @BiancoResearch WTFinance -Instagram - https://www.instagram.com/wtfinancee/Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfniTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 11th of October, 2023On this episode of the WTFinance podcast I had the pleasure of speaking with Didier Sornette - Emeritus Professor of Entrepreneurial Risks at ETH Zurich; and Chair Professor and co-Dean of the Institute of Risk Analysis, Prediction, and Management (Risks-X) at the Southern University of Science and Technology (SUSTech) Shenzhen.During our conversation we spoke about whether you can predict financial crises, how this was done during 2008, what Didier is seeing in current markets and how this may link to the current bond markets. I hope you enjoy!0:00 - Introduction1:41 - Can you predict financial crises?5:26 - Finding preluding indicators before crises?9:21 - What did Didier see during 2008 to see risk in the housing markets?16:21 - FED’s trying to reduce risk as much as possible23:56 - Are we currently heading towards a crisis?36:00 - Bond market housing market comparison?42:01 - One message to takeaway from our conversation?Didier Sornette is Emeritus Professor of Entrepreneurial Risks at ETH Zurich, and Chair Professor and co-Dean of the Institute of Risk Analysis, Prediction, and Management (Risks-X) at the Southern University of Science and Technology (SUSTech) Shenzhen. Since his recent retirement from ETH Zurich, Professor Sornette has been working actively with the private sector on developing socially important products with clear applications in the medical field and in dynamic financial risk management.Professor Sornette is using data-driven mathematical statistical analysis to study the predictability and control of crises and extreme events in complex systems. His key contribution is to use nonlinear multi-variable dynamical settings that include both positive and negative feedback. The results obtained help us better understand the overall stability and instability of financial markets.Didier Sornette - Website - https://emeritus.er.ethz.ch/about-us/people/sornette.htmlPublications - https://www.researchgate.net/profile/Didier-SornetteWTFinance -Instagram - https://www.instagram.com/wtfinancee/Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfniTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 10th of October, 2023On this episode of the WTFinance podcast I had the pleasure of welcoming back ​⁠​⁠​⁠ -  “The Robin Hood of Wall Street” and Founder of Traders Choice. During our conversation we spoke about the continued debt issue, what is happening with government bonds, why we are seeing a liquidity vacuum, the current system and more. I hope you enjoy!0:00 - Introduction1:04 - What are we currently seeing in the markets?5:16 - What is happening in the debt market?8:10 - What is happening in long duration government bonds?11:55 - Why is there a liquidity vacuum?15:45 - Will we see a changing system in the short term?18:40 - What will be the first to crack?21:10 - Crises to benefit assets?26:45 - Precious metals benefit when debt markets have issues28:10 - One message to takeaway from our conversation?Gregory Mannarino, also known as "The Robin Hood Of Wall Street," is an active/full time trader of the capital markets with a world-wide following.Born on July 22, 1965, he became interested in "Wall Street," like many others at the time, in 1987 after seeing the movie Wall Street with Michael Douglas. Around that time he was able to get an entry level position, then subsequently to the trading floor,  at the now defunct bank Bear Stearns, but within a relatively short time realized that working on Wall Street was not like the movies and moved on. He went on to get a medical degree and practiced medicine as a Physician Assistant beginning in 1996, now retired from practice. He also served in the United States Naval Reserve Medical Service Corps, having attained the rank of Lieutenant. Gregory even published a book on casino Blackjack strategies years later, and was banned from playing the game in Las Vegas casinos.Gregory Mannarino - YouTube - https://www.youtube.com/c/GregoryMannarinoTraders Choice - https://traderschoice.net/WTFinance -Instagram - https://www.instagram.com/wtfinancee/Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfniTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 6th of October, 2023On this episode of the WTFinance podcast I have the pleasure of speaking with Amir Goren - Principal at the Economic Defense Fund. During our conversation we spoke about whether a FED pivot will cause a stock market crash, what impact interest rates have on markets, strong economic drivers and how long the future recession could be. I hope you enjoy!0:00 - Introduction1:50 - What is Amir seeing in the markets?6:56 - No clear FED expectations could crash markets?10:32 - What would increasing oil prices do to markets?13:32 - Strong employment numbers in the US17:36 - What would influence a pivot?21:42 - What will the future recession be?22:37 - More pain for longer?25:32 - Is there a risk of bonds impacting US government29:49 - How far could the market drop?33:07 - One message to takeaway from our conversation?Amir Goren’s unique investment approach is based on a combination of his macroeconomic analytical and econometric expertise as well as his technological background.He holds a Ph.D in Economics from UC Irvine, MS in Biomedical Enterprise from Harvard and MIT as well as MBA and Bachelors’ in Engineering degrees from Tel Aviv University.Amir Goren - LinkedIn - https://www.linkedin.com/in/amirgoren/Twitter - https://twitter.com/EconomicDefenseSubstack - https://econdef.substack.com/Website - https://www.economicdefensefund.com/WTFinance -Instagram - https://www.instagram.com/wtfinancee/Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfniTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4Twitter - https://twitter.com/AnthonyFatseas