WTFinance

Interview recorded - 16/02/2023On todays episode of the WTFinance podcast I had the pleasure of speaking with Ted Oakley, Managing Partner and Founder of Oxbow Advisors.During our conversation we spoke about what is happening in the markets, why investors shouldn't be paying attention to the FED, how the current economic environment could lead to many bankruptcies and what assets to watch out for in such an environment. I hope you enjoy!0:00 - Introduction0:10 - Current thoughts on what will happen in markets this year?0:55 - Are we not going to see a soft landing?1:40 - Speculation is back2:10 - Why haven’t we reached the bottom yet?3:55 - Will we see disinflation over the coming year?6:10 - What should investors be paying attention to?7:40 - Shift from growth to value overperformance?8:50 - The issue with regular investment coverage9:55 - Speaking to individuals with skin in the game10:45 - Why aren’t there many opportunities around?12:00 - Mass bankruptcy coming?13:40 - The issue with refinancing debt?15:30 - Any assets to preserve wealth during this period?17:25 - What level will markets get to?20:00 - Will precious metals and other commodities benefit?21:30 - Being positioned no matter what happens22:15 - What are individuals missing out on?23:30 - Any industry that is underperforming?24:45 - One message to take away from our conversation?Ted Oakley is Managing Partner and Founder of Oxbow Advisors.  With more than forty years of experience in advising high net worth clients in the investment industry, Oakley implements the firm’s proprietary investment strategies and the “Oxbow Principles” to provide a unique investment perspective.  He is a frequent guest on FOX Business News, Bloomberg Radio, KITCO News, Cheddar TV, Yahoo Finance, and many more.Mr. Oakley is a Chartered Financial Analyst (CFA) and a Certified Financial Planner (CFP).  He is a member of the Austin Society of Financial Analysts.  He is also a Partner of Herndon Plant Oakley Ltd., an investment company. He is a Board Member of Texas State Aquarium, American Bank, and American Bank Holding Company. Mr. Oakley is a United States Army Veteran.Mr. Oakley began his career in Dallas, Texas, over 35 years ago. He is the author of nine books: You Sold Your Company, $20 Million and Broke, Rich Kids Broke Kids – The Failure of Traditional Estate Planning, Crazy Time – Surviving the First 12 Months after Selling Your Company, Wall Street Lies, Danger Time, My Story, The Psychology of Staying Rich, and Your Money Mentality.Mr. Oakley’s primary philanthropic interest is helping children. He is Chairman Emeritus and Founder of the Foster Angels of South Texas, the largest foster child foundation in South Texas, as well as Chairman Emeritus and Founder of Austin, Texas-based Foster Angels of Central Texas.  Also, President and Founder of Advocates for Foster Children Foundation.Ted Oakley - Website - https://oxbowadvisors.com/Twitter - https://twitter.com/Oxbow_AdvisorsLinkedIn - https://www.linkedin.com/in/ted-oakley-08444a32/YouTube -  @OxbowAdvisors  WTFinance - 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 - 6th of February, 2023On todays episode of the WTFinance podcast I had the pleasure of speaking with Sam Burns, Founder & Chief Strategist at Mill Street Research. During our conversation we spoke about Sam's thoughts on the market, how we could have had a market bottom, what indicators Sam is currently watching, why earnings won't be as bad as everyone thinks and why it is the time to put on some risk. I hope you enjoy!0:00 - Introduction0:28 - Sam's thoughts on the market1:00 - ‘Sentiment extremes reverse’2:45 - Why does Sam think he is bullish?5:40 - Why is credit so bullish?6:34 - What will happen in 6-12 months?8:50 - Any chance of a secular shift?12:00 - Bottom in the US equity market14:00 - Long bonds in the coming years?15:30 - Earnings the current driver of markets?18:02 - What are analysts currently thinking at the moment?20:46 - Is the negative trend the same speed?24:00 - One message to take away from our conversation?Sam Burns, CFA founded Mill Street Research, LLC as an independent research provider. He has served as the Managing Member and Chief Strategist since the company’s inception in February 2016.Sam has over 20 years of experience as a market strategist, providing analysis and commentary to institutional investors globally.Prior to founding Mill Street Research, Sam worked as a senior strategist at leading firms on Wall Street, including: ■ Oppenheimer & Co. ■ Brown Brothers Harriman ■ State Street Global Markets ■ Ned Davis ResearchSam graduated from Vanderbilt University with a B.A. in Economics, and completed his M.B.A. in Finance at the University of Texas at Austin. In his free time, he enjoys playing golf, hiking, reading, and TV and movies.Sam Burns - Website - https://www.millstreetresearch.com/Twitter - https://twitter.com/MillStResearchLinkedIn - https://www.linkedin.com/in/sam-burns-cfa-53a51a4/WTFinance - 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 - 7th of February, 2023On todays episode of the WTFinance podcast I had the pleasure of speaking with Andy Constan, CEO & CIO of Damped Spring Advisor. During our conversation we spoke about Andy's thoughts on the markets, how he is short both stocks and bonds, the chance of having higher interest rates for longer and what would have to change Andy's mind. I hope you enjoy!0:00 - Introduction0:48 - Andy’s thoughts on the markets?7:53 - High beta up, most other assets flat13:41 - Higher interest rates for longer is not priced into markets16:33 - Janet Yellen has control over QT20:03 - Spreads between government bonds and credit21:00 - Indicators to change perspective on market24:13 - One message to takeaway from our conversation?Andy has spent the past 35 years investing and trading global markets. Over the last 12 years, he has developed strong expertise in Macro investing working at Bridgewater Associates as an Idea Generator and most recently at Brevan Howard as Chief Strategist. Andy spent the first part of his career at Salomon Brothers and its successor companies. After 17 years at Salomon and as the Head of Global Equity Derivatives, Andy left and started two relative value hedge funds specializing in Multi-Asset Volatility Arbitrage and Capital Structure Arbitrage. Throughout his career, Andy has developed a keen cutting edge understanding of systematic quantitative research and investment while also deeply appreciating the importance of the insights that arise from discretionary investing strategies.Andy Constan - Twitter - https://twitter.com/dampedspringLinkedIn - https://www.linkedin.com/in/andyconstan/Website - https://dampedspring.com/WTFinance -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 - 9th of February, 2023On todays episode of the WTFinance podcast I had the pleasure of speaking with David Hunter, a contrarian macro strategist with 49 years of experience on Wall Street. During our conversation we spoke about how the S&P 500 will hit 6,000 or higher, how it could be the fastest rally in history, what assets will perform the best, what will then cause an 80% drop and bullishness for metals. I hope you enjoy!0:00 - Introduction1:14 - Overview of hypothesis and whether it has changed?5:34 - Why will we will experience the melt up?9:04 - One of the best market years in history?11:54 - Hedge funds and managers to increase longs12:59 - High beta assets to outperform during this period?16:29 - What would have to change for David to change his mind?20:24 - Weak dollar and lower energy prices21:34 - What will happy to other markets around the world?23:14 - 80% drop in markets after bull run?27:34 - Negative end to the year?28:28 - Japanification of the world economy?30:54 - High and government debt risk countries31:54 - What to watch out for for market collapse?34:29 - Metals at a crucial point36:34 - Industrial and precious metals37:34 - One message to take away from our conversation?Investment professional with 25 years of investment management experience and 20 years as a sell-side strategist with strong expertise in macroeconomic analysis and portfolio management. My strong macro capabilities combined with a contrarian philosophy have allowed me to forecast economic cycles and spot market trends well ahead of the consensus. Intellectually honest, independent thinker comfortable with charting a course apart from the crowd. Accomplished stock picker and value-oriented portfolio manager.David Hunter - Twitter - https://twitter.com/DaveHcontrarianLinkedIn - https://www.linkedin.com/in/david-hunter-668ba015/WTFinance -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 - 6th of February, 2023On todays episode of the WTFinance podcast I had the pleasure of speaking with  @EconomicNinja .During our conversation we spoke about the overview of the auto and real estate industry, thoughts on the current markets, how we could experience the worse crash in 50 years and how you can prepare to become wealthy during that period. I hope you enjoy!0:00 - Introduction 0:54 - Overview of auto industry and real estate industry?3:25 - Being forced to sell4:50 - Expensive car market is collapsing7:35 - Thoughts on current markets?9:50 - Disinflation still high inflation12:05 - Interest rate increases continues to remove buyers 13:25 - Things are going to get much worse15:00 - International investment in real estate17:00 - Any reason why we wouldn’t go into a recession?21:05 - One message to takeaway from our conversationEconomic Ninja has been an entrepreneur since he started selling candy in the 6th grade. He thrived on challenges, economics and business. He "flipped" quite a few homes in the early 2000s and has owned multiple rental properties, so he has a lot of personal experience with real estate transactions, loans, remodelling homes. He has "a super human thirst for economic knowledge." He spends many hours every day listening to and reading articles on market trends, interest rate cycles, and all aspects of economics and the world of finance. Economic Ninja - YouTube -  @EconomicNinja  Twitter - https://twitter.com/economyninjaInstagram - https://www.instagram.com/economic_ninja/?hl=enTikTok - https://www.tiktok.com/@economicninjaWTFinance - 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 -

Interview recorded - 2nd of February 2023On todays episode of the WTFinance podcast I had the pleasure of speaking with Matthew Klein, the founder of The Overshoot and Co-author of the book “ Trade Wars are Class War - How Rising Inequality distorts the global economy and threatens international peace.” During our conversation we spoke about how de-globalisation, China’s consumption issue, what has influenced inequality and how this can be changed in the future. I hope you enjoy!0:00 - Introduction1:08 - Thoughts on current markets?2:29 - Opening not as inflationary as first thought?3:14 - Key drivers of current price action?4:54 - Unemployment key factor?7:14 - De-globalisation and near shoring going to occur? 11:20 - Chinas consumption issue?15:55 - A currency issue?20:55 - What has influenced inequality?24:45 - Why did globalisation not cause inequality?26:50 - Corporations ruining globalisation?28:50 - What needs to change to reduce inequality in the US?32:05 - Targeted CAPEX investment?33:50 - What other changes need to occur to reduce inequality?35:40 - What is one message to takeaway from our conversation?Matthew C. Klein is one of the “most astute commentators on the global economy” (Adam Tooze). He is read across the world by central bankers, chief economists, academics, policymakers, and investors. Klein has given background presentations to staffers of the U.K. Parliament, White House economic advisers, and officials at the European Commission. As a top analyst of both current events and longer-term trends, he can speak on everything from the state of the housing market or the latest decisions of the Federal Reserve to the impact of population aging or the economic legacy of Shinzo Abe.Klein has over a decade of experience studying the intersection of economics, public policy, and financial markets. He has written for the Economist (2012-13), Bloomberg (2013-14), the Financial Times (2014-18), and Barron’s (2018-21), where he was the Economics Commentator. He now runs The Overshoot, a premium subscription research service dedicated to tracking the global economy.His writings cover a range of subjects, including asset pricing, banking regulation, Brexit, Chinese currency management and credit policies, corporate tax avoidance, the coronavirus pandemic, demographics, the euro area’s ongoing evolution, global financial imbalances, housing cycles, inequality, inflation measurement, the Japanese economy, the supply and demand for labor, the minimum wage, monetary policy and negative interest rates, productivity and technological innovation, protectionism and trade conflict, and the U.S. political economy.At the beginning of his career, Klein worked in global macro investment research at Bridgewater Associates. Following this, he was a Research Associate in international economic and financial history at the Council on Foreign Relations (2010-12).Matthew Klein -Website - https://theovershoot.co/Twitter - https://twitter.com/M_C_KleinBook - https://amzn.to/3JIrRSHLinkedIn - https://www.linkedin.com/in/matthewcklein/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 from - https://labor411.org/411-blog/wealth-inequality-trying-to-close-the-gap/

Interview recorded - 2nd of February, 2023On todays episode of the WTFinance podcast I had the pleasure of speaking with Zed Francis,  CIO & Co-Founder of Convexitas. During our conversation we talked about what is currently happening the markets, how tight credit markets could be, whether this could increase volatility and other impacts in markets. I hope you enjoy!0:00 - Introduction0:30 - What is currently happening in the markets?4:15 - Managers can only hold on to cash for so long5:10 - Market bottom?6:35 - What is influencing these movements?8:35 - Earnings a catalyst?9:45 - Investing in index10:35 - Key indicators that Zed is currently analysing?14:44 - What does tight credit mean?16:50 - How tight are markets?23:40 - Do other investors move across the risk curve?26:05 - Less volatility over all?28:20 - What message to take away from our conversation?As Convexitas’ co-founder and CIO, Zed is responsible for strategy design, implementation, risk management and business development. In his 15-year career in investment management, Zed has taken on leadership roles that have informed the delivery of consistent and transparent multi- asset solutions as a discretionary fiduciary acting on behalf of institutional clients and high-net-worth individuals. He was most recently a portfolio manager and derivative overlay manager at SpiderRock Advisors.Previous engagements include portfolio management at institutional investment manager Legal & General Investment Management America and trading head at long/short distressed hedge fund Chicago Fundamental Investment Partners.Outside of work, The YWCA Chicago mission resonates with Zed and he assists in their continued success by participating in the Impact Investing Advisory Council. He holds a Bachelor of Science from Cornell University. A native of Chicago, Zed lives in his hometown with his wife and two daughters.Zed Francis - Website - https://www.convexitas.com/LinkedIn - https://www.linkedin.com/in/zed-francis-943a4522/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 - 31st of January, 2023On todays episode of the WTFinance podcast I had the pleasure of speaking with David Rosenberg, Founder & President of Rosenberg Research & associates.During our conversation we spoke about whether there is a chance for a soft landing, how bad the recession will be, how the recession will impact markets, which assets will perform and what would have to change for David to go long. I hope you enjoy!0:00 - Introduction1:06 - Any inkling of a soft landing, or more pain to come?5:36 - Will the FED get continued inflation or disinflation?10:19 - FED watching unemployment14:20 - Would recession impact the markets?19:36 - Which asset will perform during a recession?22:35 - Key indicators David will watch to go long?26:58 - One message from conversation?David Rosenberg is the Founder and President of Rosenberg Research & Associates Inc., an economic consulting firm he established in January 2020. He and his team have as their top priority providing investors with analysis and insights to help them make well-informed investment decisions.Prior to Rosenberg Research, David was Chief Economist & Strategist at Gluskin Sheff + Associates Inc. from 2009 to 2019. From 2002 to 2009, he was Chief North American Economist at Merrill Lynch in New York, during which he was consistently ranked in the Institutional Investor All-Star analyst rankings. Prior thereto, he was Chief Economist and Strategist for Merrill Lynch Canada, based out of Toronto, where he and his team placed first in the Brendan Wood survey of Canadian economists for ten years in a row.Mr. Rosenberg is a frequent contributor to most major financial newspapers and publications in North America and makes regular TV appearances in the financial media. He received both a Bachelor of Arts and Masters of Arts degree in Economics from the University of Toronto.David Rosenberg - Website - https://www.rosenbergresearch.com/Twitter - https://twitter.com/EconguyRosieLinkedIn - https://www.linkedin.com/in/david-rosenberg-40800219b/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 - 23rd of January, 2023On todays episode of the WTFinance podcast I had the pleasure of welcoming back Antonio Linares, a long term thinker/investor. During our conversation we spoke about his Electron Management Investment Framework, how this is used to analyse company, a deep dive analysis of both Meta and Amazon and which company Antonio prefers best. I hope you enjoy!0:00 - Introduction0:25 - Electron Management Investment Framework4:30 - Networks that efficiently utilise data5:45 - Identify undervalued companies7:45 - Analysing macro impact12:05 - Could Meta be a good buy?23:50 - Overview of Amazon26:50 - Where does the value of Amazon come from?31:30 - Is there a risk of competition from Chat GPT?33:05 - Meta vs Amazon?34:45 - AWS vs Amazon split increase value?35:50 - One message to takeaway from our conversation?Antonio started his investment journey in 2014, by investing half of his money in $AMD and the other half in $SCTY ($TSLA). To date, the portfolio has delivered an average return of 2000% since. In his newsletter, you will be able to gain a detailed insight into the thought process that led to these investments and that may also lead to other outstanding investments in the future.He constantly learns new things in the fields of technology, science, history, markets, psychology, business and a whole range of other subjects. He then put ideas from all these different areas together to produce actionable investment ideas.His passion for learning is what makes him a good investor. His second passion is sharing the new things I learn with others and that is just the motivation of this newsletter.Antonio Linares -Twitter - [https://twitter.com/alc2022](https://twitter.com/alc2022)Substack - [https://antoniolinares.substack.com/](https://antoniolinares.substack.com/)Spotify Debate - [https://www.youtube.com/watch?v=PFqJaZolkLg](https://www.youtube.com/watch?v=PFqJaZolkLg)WTFinance -Instagram - [https://www.instagram.com/wtfinancee/](https://www.instagram.com/wtfinancee/)Spotify - [https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfn](https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfn)iTunes - [https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4](https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4)Twitter - [https://twitter.com/AnthonyFatseas](https://twitter.com/AnthonyFatseas)

Interview recorded - 12th of January, 2023On this weeks episode of the WTFinance podcast I had the pleasure of speaking with Clive Thompson, a retired Wealth Manager from Switzerland. During our conversation we spoke about how Central Banks are becoming insolvent, three potential courses of actions Central Banks have, how this could lead to CBDC's and a monetary reset and what assets would protect wealth during this period. I hope you enjoy!0:00 - Introduction0:30 - How are central banks making large losses?9:25 - Could Central Banks print more money?10:00 - Normal accounting rules do not apply to central banks10:40 - Are central banks in a death spiral?12:20 - Can the current system be saved?14:15 - 3 potential courses of action?15:15 - Catalyst for a change in the system?16:37 - CBDC’s and a monetary reset20:38 - Will this be different to current system?22:46 - How does this solve the debt issue?30:40 - Could banks be replaced by central banks?32:00 - How does a currency reset effect asset owners?34:20 - Any assets which would protect wealth?41:30 - When could this happen?52:35 - One message to take away from our conversation?Clive has 47 years of experience in finance & wealth management. This encompasses structuring and advice relating to quoted investments, Private Equity investments, family businesses, tax, residency, real estate, inheritance, Wills, legal, lending, Trusts, Companies and Foundations and all kinds of personal and private advice. He has been actively involved for decades in the arena of Trust structures. This often involved negotiating and discussing the contracts relating to the sale of family companies.Clive's latest position before retirement was as Managing Director in the Anglophone Private Clients Department of Union Bancaire Privée, UBP SA, based in Geneva. He was responsible for wealth management services provided to a small number of wealthy English and French speaking families.Clive continues to remain very active in the world of wealth, with a strong focus on Private Equity, and direct Equity Investing via the global stock markets. His passion is the financial analysis of Balance Sheets, P&Ls, Cash Flow and business projections. Clive loves examining business opportunities, like Private Equity, and digging into the fundamentals of quoted companies to achieve a market beating performance.Clive Thompson - LinkedIn - https://www.linkedin.com/in/clive-thompson-661997251/Video - https://www.youtube.com/watch?v=L9aye4wQ8OkWTFinance - 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