WTFinance

Interview recorded - 10th of August, 2023On this episode of the WTFinance podcast I had the pleasure of hosting Henrik Zeberg - Macro Economist, Founder and Publisher of the Zeberg Report. During our conversation we spoke about Henrik's thoughts on the markets, why we could see all time highs in the near future, how this could be followed by a stock market crash and methods to protect wealth during such a period. I hope you enjoy!0:00 - Introduction0:39 - Henrik’s thoughts on the markets and why has the market been so strong this year?4:23 - Which economic indicators is Hendrik watching?6:09 - What will impact higher unemployment?10:14 - Strong performance followed by a crash12:14 - Stock market to all time highs14:34 - What will perform during stock market crash?16:46 - Central banks won’t be able to save the economy17:57 - Stagflation?21:04 - Who suffers from a debt crisis?23:24 - Are central banks making the wrong decisions?25:49 - What would be the right solution for central banks to make?29:49 - What assets protect wealth during stagflation?30:44 - One message to takeaway from our conversation?Henrik Zeberg is a Macroeconomist (M.Sc. Econ) from the University of Copenhagen. He is a Business Cycles student, Elliott Wave practitioner, and Chartist. You can find out more about his newsletter on his Website.Henrik Zeberg - Newsletter - https://www.thezebergreport.com/Twitter - https://twitter.com/HenrikZebergWTFinance -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 August 2023On this episode of the WTFinance podcast I have the pleasure of speaking with Michael Green - Chief Strategist at Simplify Asset Management. During our conversation we spoke about his thoughts on Michael's assessment, why the economy is holding up with interest rates, what this means for the markets for the rest of the year and how Michael is allocating for a recession. I hope you enjoy!0:00 - Introduction1:01 - Michael’s assessment of global economy and financial markets?5:51 - Are the FED too narrow focused?10:53 - Why is the economy holding up with higher interest rates?14:40 - Fixed vs Variable Mortgages16:31 - Why has stock market been so strong in 2023?26:04 - Upside and downside volatility?28:56 - What will the catalyst for market stress be?33:56 - Michael’s thoughts on emerging markets?40:06 - How is Michael allocating for recession?45:46 - One message to takeaway from our conversation?Michael has been a student of markets and market structure, for nearly 30 years. His proprietary research into the shift from actively managed portfolios and investment funds to systematic passive investment strategies has been presented to the Federal Reserve, the BIS, the IMF and numerous other industry groups and associations.Michael joined Simplify in April 2021 after serving as Chief Strategist and Portfolio Manager for Logica Capital Advisers, LLC. Prior to Logica, Michael managed macro strategies at Thiel Macro, LLC, an investment firm that manages the personal capital of Peter Thiel. Prior to Thiel, Michael founded Ice Farm Capital, a discretionary global macro hedge fund seeded by Soros Fund Management. From 2006-2014, Michael founded and managed the New York office of Canyon Capital Advisors, a $23B multi-strategy hedge fund based in Los Angeles, CA, where he established their global macro strategies, managing in excess of $5B of exposure across equity, credit, FX, commodity and derivative markets.In addition to his work as a market theorist and portfolio manager, Michael has been noted for his work as a public speaker and financial media participant. He is a graduate of the Wharton School at the University of Pennsylvania and a CFA holder.Michael Green - Substack - https://www.yesigiveafig.com/Twitter - https://twitter.com/profplum99LinkedIn - https://www.linkedin.com/in/michael-green-9a15142/Simplify - https://www.simplify.us/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 - 7th of August, 2023On this episode of the WTFinance podcast I have the pleasure of speaking with Chris Vermeulen - Founder & Chief Market Strategist at The Technical Traders. During our conversation we spoke about whether Chris expected a bull market in 2023, Chris' investment strategy, whether we are approaching a double top and more!0:00 - Introduction0:37 - Did Chris expect a bullish 2023?2:37 - Chris’ investment strategy?9:25 - Key focus is price11:25 - How do you identify strong trends?12:52 - Looking at longer timeframes15:07 - What is the reinvesting strategy?18:52 - Could we have already had the bear market in 2022?20:55 - How do you know when the bear market begins?23:42 - Are we approaching a double top?25:07 - Hierarchy of assets?27:32 - One message to takeaway from our conversation?Chris Vermeulen, the visionary investor who pioneered an industry-breaking method of investing called “Asset Revesting.” Chris introduced this innovative approach in his latest book, “Asset Revesting – How to Exclusively Hold Assets Rising in Value, Profit During Bear Markets, and Continue Building Wealth in Retirement.“Chris’s journey in the financial world began in 1997 at 16. Using his innate talent for trading and risk management, Chris earned enough money to pay for his final year of college, where he earned a business diploma in operations management. He then transitioned into a full-time entrepreneur and trader, achieving financial freedom in his 20s.His expertise in technical analysis led him to create systematic processes that uncover unique trading and investment opportunities. A persistent advocate for managing portfolio risk, Chris has little faith in the buy-and-hold strategy, which often entails holding onto depreciating assets.Chris’s innovative approach to asset allocation emphasizes efficiency, resulting in systems that manage portfolio positions, exhibit low drawdowns, and consistently outperform the markets. His short-term and long-term strategies are perfect for those seeking proven techniques to manage and protect capital.Chris is widely recognized as an exceptional technical trader, possessing profound insight and a keen understanding of market trends. He shares his wisdom in his book “Technical Trading Mastery, Second Edition – 7 Steps to Win with Logic,” further solidifying his reputation as a trailblazer in the financial industry.Chris Vermeulen - Website - https://thetechnicaltraders.com/Twitter - https://twitter.com/TheTechTradersYouTube -  @TheTechnicalTraders  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 - 1st of August, 2023On this week of the WTFinance podcast I have the pleasure of speaking with Chance Finucane - Chief Investment Office of Oxbow Advisors. During our conversation we spoke about Chance's thoughts on the market, why they went risk on at the end of 2022, which companies are overvalued and more!0:00 - Introduction0:57 - What is Chance’s thoughts on the market?2:55 - Why risk on at the end of 2022?3:27 - Rotating into other sectors?5:50 - What does an undervalued company look like?7:45 - Ominous trend of mean reversion?9:18 - What is the economic data currently saying?12:15 - What is Chase’ base case?13:53 - Which specific industries are undervalued?15:55 - What is your strategy to calculating fair value?17:55 - How long holding stocks for?19:45 - What other assets is Chance watching?22:05 - One message to takeaway from our conversation?Chance joined Oxbow in 2017 after spending six years on the investment team at Institutional Capital (ICAP), a global value investment firm based in Chicago. He is a graduate of Indiana University with a B.S. in Accounting and Finance and an M.B.A. in Accounting. Chance is a member of the firm’s investment committee.Chance Finucane - Twitter - https://twitter.com/chancefinucane?lang=enWebsite - https://oxbowadvisors.com/Twitter - https://www.linkedin.com/in/chance-finucane-a2b82b128/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/AnthonyFatseasThumbnail image from - https://www.adviserinvestments.com/bi-weekly-newsletter/are-stocks-overvalued/

Interview recorded - 1st of August, 2023On this episode of the WTFinance podcast I have the pleasure of speaking with Mish Shedlock - Investment Analyst and Writer of the great global economics blog called “MishTalk”. During our conversation we spoke about the political drivers of the economy, how inflation is impacting the markets, what does a FED pivot mean for assets and whether the economy is currently on the brink of an economic crisis. I hope you enjoy!0:00 - Introduction1:00 - What is Mish currently watching?4:30 - Is inflation a political issue?9:10 - Have the FED taken the correct action raising rates?11:25 - Is inflation going to stay higher for longer?16:20 - What does a FED pivot mean for assets?20:28 - What data points will Mike be watching to see when markets shift?22:45 - Is China going the way of Japan?26:45 - Further risk of banking crises?30:45 - What will be the competitor to the US dollar?36:50 - One message to takeaway from our conversation?Mish is a highly acclaimed macro-economic writer and one of the early financial pioneer bloggers. Mish has written articles every day since 2003. That’s 20 straight years of publishing at least one economic post per day allowing for “Merry Christmas” and “Happy New Year” articles.In summer of 2006, Mish called the top of the residential housing bubble, and the bottom in March of 2009.In 2009, Mish’s Global Economic Trend Analysis was on the cover of online Time Magazine, Best 25 Financial Blogs.In 2010, the New York Times cited Mish along with Barry Ritholtz and Calculated Risk in its #1 Idea of the year called: Do-It-Yourself Macroeconomics. The article was about people who called the global economy better than any formally trained economists.Mish is a believer in free markets and small government. He writes from a Libertarian and Austrian economist point of view.Discussion posts, typically multiple times a day, include interest rates, central bank policy, gold and precious metals, jobs, global politics, and economic reports from the BLS, BEA, and Commerce Department. On the first Friday of every month, Mish goes over the monthly job statistics in much greater detail than anything in mainstream media. The same applies to the monthly CPI, PPI, and housing reports from the BLS and commerce department.Mike Shedlock - Website - https://mishtalk.com/Twitter - https://twitter.com/MishGEA?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5EauthorWTFinance -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 - 1st of August, 2023On this episode of the WTFinance podcast I had the pleasure of speaking with Hugh Hendry - Former Hedge Fund manager of Eclectica Asset Management, also known as the Acid Capitalist. During our conversation we spoke about why Hugh is fearful, similarities between today and 2008, understanding the actions of central banks and an explanation of Hugh's portfolio. I hope you enjoy. 0:00 - Introduction1:45 - What is Hugh seeing and is he fearful?4:55 - Are there similarities between today and 2008?10:09 - Fiscal stimulus has picked up private demand slack?12:14 - We are in the waiting room17:50 - Understand what your position means19:20 - Are central banks acting faster as seen with UK Pension Crisis and SVB collapse?26:39 - Inflation wouldn’t have changed with faster interest rate increases31:38 - Hugh’s portfolio42:55 - One message to takeaway from our conversation?Hugh Hendry is an award winning hedge fund manager, market commentator, thought leader, ST Barts Real Estate Investor & Surfer.Hugh Hendry was the founding partner and chief investment officer of the now defunct hedge fund firm, Eclectica Asset Management. The fund was created in 2003 and returned 50 per cent from the revival in the gold price. Hugh later attracted media attention when his fund achieved a 31.2 per cent positive return in 2008 during the depths of the financial crisis, earning him a reputation as a contrarian investors. He has been referred to as "the most high-profile Scot" in the hedge fund sector. Hugh Hendry - Twitter - https://twitter.com/hendry_hughYouTube -  @HughHendryOfficial  Website - https://hughhendry.com/Instagram - https://www.instagram.com/hughhendryofficial/Patreon - 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 - 27th of July, 2023Buy Book Here - https://www.amazon.co.uk/Price-Time-Real-Story-Interest/dp/0241569168/On this episode of the WTFinance podcast I have the pleasure of speaking with Edward Chancellor - A financial historian, journalist and investment strategist. He is also the author of the recently released book “The Price of Time”. During our conversation we spoke about the Price of Time, what impact low interest rates have had on markets and the economy, what we can expect in the future and more. I hope you enjoy. 0:00 - Introduction1:18 - What is the Price of Time?4:27 - Why is the price of time important?9:18 - What impact does negative interest rates have on the economy & markets?16:18 - Valuations go down as interest rates go up23:33 - Surprised by how certain markets have held up with higher interest rates?28:43 - Could history be suggesting current empires will collapse?40:03 - Interest rates are difficult to predict42:08 - One message to take away from conversation?Edward Chancellor is a financial historian, journalist and investment strategist. Edward read history at Trinity College, Cambridge, where he graduated with first-class honours, and later gained an M.Phil. in Enlightenment history from Oxford University. In the early 1990s he worked for the London merchant bank, Lazard Brothers. He was later an editor at the financial commentary site, Breakingviews. From 2008 to 2014, Edward was a senior member of the asset allocation team at GMO, the Boston-based investment firm. He is currently a columnist for Reuters Breakingviews and an occasional contributor to the Wall Street Journal, MoneyWeek, the New York Review of Books and Financial Times. In 2008, Edward received the George Polk Award for financial reporting for his article “Ponzi Nation” in Institutional Investor magazine.Edward Chancellor is the author of Devil Take the Hindmost: A History of Financial Speculation (Farrar Straus/Macmillan, 1999), a New York Times Notable Book of the Year. Devil Take the Hindmost has been translated into more than half a dozen languages. In 2005, he published the report, Crunch-Time for Credit? (Harriman House), an analysis of the ongoing credit boom in the US and UK.  Edward has also edited two well-received investment books, Capital Account (Thomson Texere, 2004) and Capital Returns (Palgrave Macmillan, 2015). His latest book, The Price of Time, is published by Allen Lane in the United Kingdom and Atlantic Monthly Press in the United States. The Price of Time has been longlisted for the FT 2022 Business Book of the Year.Edward Chancellor - Website - https://www.edwardchancellor.com/Twitter - https://twitter.com/chancellor_eWTFinance -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 - 5th of July, 2023On this episode of the WTFinance podcast I had the pleasure of speaking with Richard Sylla, Professor Emeritus of Economics and finance historian.During our conversation we spoke about whether the system can handle rising interest rates with the high debt levels, if this would require depreciation of the currency, whether financialisation is a bad thing and more!0:00 - Introduction1:23 - How can we compare recent economics to the past?5:05 - Can the system handle increasing interest rates with high debt?8:45 - Depreciation of currency10:30 - Where would economic growth come from?11:45 - Have emerging markets taken growth away from developed markets the past decades?15:32 - How can central banks overcome inflation?19:35 - Will the FED push the economy into a recession?22:10 - Unemployment remaining strong24:20 - Have interest rates ever increased so much without a recession?25:55 - What is real interest rate?29:03 - Is financialisaton a bad thing?31:35 - Japanification 34:10 - Are central banks kicking our problems down the road?37:50 - Looking at the long term42:00 - One message to take away from our conversation? Richard Sylla is a Professor Emeritus of Economics and the former Henry Kaufman Professor of the History of Financial Institutions and Markets at New York University Stern School of Business. He teaches courses in financial history, economic and business history of the United States, and comparative enterprise systems.Professor Sylla has been with NYU Stern since 1990. His primary areas of research include historical studies of money, banking, and finance. He is the author of several books, including The American Capital Market and A History of Interest Rates. His writing has appeared in numerous publications, including the Journal of Economic History, Explorations in Economic History, Business History Review, and Enterprise & Society. He is also on the editorial board of many journals that include the Financial History Review, Enterprise and Society, and Economic and Financial History Abstracts. Professor Sylla has also been the recipient of several awards and grants including National Science Foundation grants, an Alfred P. Sloan Foundation grant and the Citibank Award for Excellence in Teaching at the Stern School. He served as President of the Economic History Association and the Business History Conference, and is currently the Chairman of the Museum of American Finance. He is a Fellow of the Cliometric Society and the American Academy of Arts and Sciences.Prior to joining Stern, Professor Sylla taught at North Carolina State and the University of Pennsylvania among others. Professor Sylla received his bachelor of arts from Harvard University before studying at the Indian Statistical Institute at Calcutta. He then received both his master of arts and his doctorate of philosophy from Harvard University.Richard Sylla - Website - https://www.stern.nyu.edu/faculty/bio/richard-syllaResearch - https://www.nber.org/people/richard_sylla?page=1&perPage=50WTFinance - 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 - 7th of July, 2023On this episode of the WTFinance podcast I had the pleasure of speaking with Jason Shapiro, Principal at JS Trading and Chief Strategist of Crowded Market Report.During our conversation we spoke about how Jason believes markets have more upside, his market sentiment strategy, why its all about choosing the right trade, the current opportunities Jason is watching and more!0:00 - Introduction1:25 - What is Jason seeing in the markets?4:00 - How do you know when sentiment has changed?5:30 - Don’t buy the laggers6:40 - Jason’s strategy, how he built it and why it is successful?10:00 - What do most traders do wrong?13:15 - Its not just about being right, but choosing the right trade14:50 - Concentration of markets18:30 - What is Jason’s process?21:30 - What happens when position closes?22:35 - Position sizing 23:10 - What are the current opportunities?28:30 - One message to take away from our conversation?33:06 - Where to find Jason’s work?With over 30 years of trading experience, Jason has gone through most markets a trader should see in their career.  From the crazy rallies during the 90s, the tech bubble pop in early 2000s, the 2008 market crash and the latest bull run starting in 2009.  Through the last 20 years of his career, he has used a contrarian approach which has been very successful to him and his clients, as verified by Jack D. Schwager in his latest MARKET WIZARDS BOOK.  Jason has managed large sums of money from a few million to several hundred million and learned a great deal about the Futures markets, from Equities, Currencies and Fixed Income to Currencies and Precious Metals.Jason Shapiro - Website - https://www.crowdedmarketreport.com/Twitter - https://twitter.com/Crowded_Mkt_RptLinkedIn - https://www.linkedin.com/in/jason-shapiro-53674994/YouTube -  @crowdedmarketreport 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 - 5th of July, 2023During this interview of the WTFinance podcast I had the pleasure of speaking with Daniel McNamara - Founder & CIO of Polpo Capital. During our conversation we spoke about what is happening in commercial real estate, why this market could see large losses, who are the bag holders and what this means for commercial real estate moving forward. I hope you enjoy!0:00 - Introduction0:53 - What is happening in commercial real estate?3:40 - Which geographies will be the most effected and who are the bag holders?6:05 - Investors to take large losses7:30 - Worse with variable rates internationally?8:40 - Could commercial real estate be a catalyst for another 2008 crisis?10:00 - Types of commercial real estate12:30 - Cyclical trend - old vs new 14:25 - Converting commercial to homes15:55 - Asset managers walking away from commercial real estate investments18:40 - Any other macro drivers?19:40 - Where are the commercial real estate opportunities?21:40 - How does an extension work?23:20 - During distress, rotating to higher quality assets25:40 - One message to takeaway from conversation?Daniel McNamara - Twitter - https://twitter.com/danjmcnamaraWebsite - https://www.polpocapital.com/LinkedIn - https://www.linkedin.com/in/daniel-mcnamara-946a969/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