WTFinance

Interview recorded - 10th of January, 2024On this episode of the WTFinance podcast I had the pleasure of welcoming back Steve Hanke. Steve is the Professor of Applied Economics and Founder and Co-Director of the Institute for Applied Economics, Global Health, and the Study of Business Enterprise at The Johns Hopkins University.  He is also the author of the recently released book “Capital, Interest and Waiting: Controversies, Puzzles and New Additions to Capital Theory”.During our conversation we spoke about what happened in 2024, quantitative tightening, the treasury, drivers of money supply, trump inflation, the dollar wrecking ball, recession risk and more. I hope you enjoy!0:00 - Introduction2:20 - Review of 2024?8:18 - Quantitative tightening10:47 - Treasury bond issuance 13:37 - Issue with FED & Wall Street17:52 - Drivers of money supply21:32 - Bond market issue28:18 - Trump inflationary?31:27 - Dollar wrecking ball36:32 - Grow money supply with high debt?42:12 - One message to takeaway?Steve H. Hanke is a Senior Fellow, Contributing Editor of The Independent Review, and a Member of the Board of Advisors at the Independent Institute. He is a Professor of Applied Economics and Founder and Co-Director of the Institute for Applied Economics, Global Health, and the Study of Business Enterprise at The Johns Hopkins University in Baltimore. He is also a Senior Adviser at the Renmin University of China’s International Monetary Research Institute in Beijing, and a Special Counselor to the Center for Financial Stability in New York. Hanke is also a Contributing Editor at Central Banking in London and a Contributor at National Review. In addition, Hanke is a member of the Charter Council of the Society for Economic Measurement and a Distinguished Associate of the International Atlantic Economic Society. He is ranked as the world’s third-most influential economics influencer by FocusEconomics in Barcelona, Spain.Steve Hanke: Book - https://link.springer.com/book/10.1007/978-3-031-63398-0X -  https://x.com/steve_hankeBio - https://www.independent.org/aboutus/person_detail.asp?id=516WTFinance -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 January, 2025On this episode of the WTFinance podcast I had the pleasure of welcoming back Doomberg.During our conversation we spoke about the rebellion of the elite and how increasing electricity prices have impacted this in Europe, energy bottlenecks, geopolitical risk, the new American empire, potential for geopolitical vacuum, Trump accelerating growth, European Winter 24/25 and more. I hope you enjoy!0:00 - Introduction2:34 - What stood out in 2024?5:04 - Numb to geopolitical risks18:39 - Energy bottleneck for data centres?10:19 - Pressure on US energy prices?12:49 - Gas pressure14:52 - Difficult to predict energy markets16:46 - What impact will Trump have on the world?20:12 - Geopolitical vacuum?21:51 - War for Africa23:31 - Do demographics matter with AI?27:49 - Trump accelerating growth?35:04 - Bureaucratic elite 39:24 - Europe energy cost destroying economy41:29 - Winter 2024/25 in Europe?46:24 - One message to takeaway from conversation?Doomberg is an independent, widely distributed publication that delivers concise, entertaining, provocative articles centered on energy, finance, and geopolitics. They are a small team of entrepreneurs that started this business after long careers in the industrial sector. With trillions of taxpayer dollars and myriad government mandates thrown at the energy transition, there was a practical voice missing in the traditional media. They started writing in that voice, with the freedom of having no master to serve beyond the foundation of our own principles, experience, and work ethic.This publication is their passion, and the content is supported by our team’s deep experience in heavy industry, private equity, and the hard sciences. They are entirely reader-supported and have grown to be the most widely read finance newsletter on the Substack platform.Doomberg - Substack - https://doomberg.substack.com/Twitter - https://twitter.com/DoombergTEmail - doomberg@doomberg.comWTFinance 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 - 3rd of January, 2025On this episode of the WTFinance podcast I had the pleasure of welcoming back Dave Collum. Dave is a Professor of Organic Chemistry and leading thinker on markets and the larger world around us. During our conversation we spoke about Dave's review of 2024, the destruction of the democratic party, emergence of extremism, bureaucratic crisis, controlling complex systems, dollar wrecking ball, confiscating assets, Trump 2.0 and more. I hope you enjoy!0:00 - Introduction2:27 - Review of 20243:50 - Democrats took election for granted?9:00 - Biden in 2016?18:00 - Bureaucratic crisis26:08 - Emergence of extremism29:02 - Political accountability29:59 - Powell recent decision making?35:15 - Controlling complex systems31:22 - Managers can be poor allocators of capital40:42 - Distributions41:56 - Big Pharma model47:36 - Healthcare failing49:57 - Dollar wrecking ball53:42 - Confiscating assets58:47 - Optimism about Trump 2.01:03:13 - Trump to avoid a market reckoning?1:04:12 - One message to takeaway from our conversation?David Collum received a BS in biology from Cornell in 1977 and an MA, MS, and PhD in chemistry from Columbia University in 1980. Dave currently is the Betty R. Miller Professor of Chemistry at Cornell University. While at Cornell Dave has served as Director of Undergraduate Studies, Director of Graduate Studies, associate chairman, and chairman while running a research program in organic chemistry for forty years, which include collaborations with a host of large-cap pharmaceutical companies exemplified by Merck and Pfizer. In recent years he has become interested in the interface where politics and markets meet. He compiles an annual Year in Review, does several dozen podcasts per year, and occasionally stirs up trouble on more mainstream media sources.Dave Collum - Twitter - https://twitter.com/davidbcollum?s=21&t=xvXQIRnoZm5mxXw68trHEQYear in Review - https://peakprosperity.com/2024-year-in-review-what-is-a-fact/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 - 17th of December, 2024On this episode of the WTFinance podcast I had the pleasure of welcoming back Professor Richard Wolff. Richard is a well-known critic of an alternative contemporary economic system, host of the Economic Update and Founding Director of Democracy at work.During our conversation we spoke about the economics of 2024, what to expect in 2024, the potential for another roaring twenties, the collapse of the US empire, actions to prevent such an event and more. I hope you enjoy!0:00 - Introduction1:30 - Economics of 202412:40 - Inwards looking US and Roaring twenties?23:05 - Large migration and wage increase?28:20 - Actions to change trajectory?35:15 - One message to takeaway from conversation?Richard D. Wolff is Professor of Economics Emeritus, University of Massachusetts, Amherst where he taught economics from 1973 to 2008. He is currently a Visiting Professor in the Graduate Program in International Affairs of the New School University, New York City.Earlier he taught economics at Yale University (1967-1969) and at the City College of the City University of New York (1969-1973). In 1994, he was a Visiting Professor of Economics at the University of Paris (France), I (Sorbonne). Wolff was also regular lecturer at the Brecht Forum in New York City.Prof Wolff is the co-founder of Democracy at Work and host of their nationally syndicated show Economic Update. Professor Richard Wolff:Democracy at work: https://www.democracyatwork.info/Website: https://www.rdwolff.com/X: https://x.com/profwolffYouTube:  @RichardDWolff  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 - 13/12/2024On this episode of the WTFinance podcast I had the pleasure of welcoming on Chief Strategist of Citrini Research. They cover Thematic Equity with a top down approach. During our conversation we spoke about the thematic equity approach on investing, review of 2024, thoughts on 2025, risk of Nvidia slowdown, return of Arkk, anti-trends, selling too early and more. I hope you enjoy!0:00 - Introduction1:37 - Citrini investment strategy5:13 - What drives markets?8:15 - Review of 202413:55 - Collection of trends17:05 - 25 trades for 202524:47 - Nvidia slowdown?30:20 - 2025 Risks?34:20 - Small cap vs hyperscaler?36:30 - Looking past Trump speak39:20 - Return of Arkk44:55 - Anti-trends53:37 - Selling too early59:27 - One message to takeaway?Over the past century, 40% of shareholder returns have come from 1% of all companies.Identifying these companies is oftentimes a function of investor’s early discovery of market themes & narratives. Those “megatrends” affecting not just individual companies or sectors but the entire economy.This is the kind of approach to investing utilized at Citrini Research. They attempt to highlight and demystify themes that will define the market’s distribution of returns for years to come.By incorporating macroeconomics, second-order thinking, top-down sector analysis and a lateral approach to individual equities and markets in general, they aim to discover early & expand upon these themes for their clients.It is their most firmly held conviction that narratives drive markets more than any other factor. While their strategy has been defined in many ways by many people, they are solely concerned with one thing: doing what works.Citrini -Website - https://www.citriniresearch.com/X - https://x.com/Citrini7WTFinance -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 - 12th of December, 2024On this episode of the WTFinance podcast I had the pleasure of welcoming back David Rosenberg. David is the Founder & President of Rosenberg Research & associates.During our conversation we spoke about 2024, what David was surprised about in the year, the lament of a bear, what to expect in 2025, tight credit spread, secular shift in bond, where David is bullish and more. I hope you enjoy!0:00 - Introduction1:21 - David’s year review2:48 - Lament of a bear8:35 - Earnings remain strong14:55 - Credit spreads tight24:33 - Secular shift in bonds?30:30 - Continued rate cuts?35:49 - Where is David bullish?41:27 - One message to takeawayDavid 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/EconguyRosieArticle - https://www.linkedin.com/pulse/lament-bear-david-rosenberg-tpxzcLinkedIn - 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 - 4th of December, 2024On this episode of the WTFinance podcast I had the pleasure of welcoming back Michael Pento. Michael is the President & Founder of Pento Portfolio Strategies.During this conversation we spoke about the current market outlook, why the market is dangerous, cutting government costs, is inflation an issue, asset bubbles, whether the middle class can be saved and more. I hope you enjoy!0:00 - Introduction0:59 - Market outlook2:38 - Why is the market dangerous?8:06 - How does the US get out of this?9:43 - Cutting government costs?11:36 - Inflation an issue?20:28 - 3 Asset Bubbles22:58 - Which sectors benefitting?25:08 - Next stage24:53 - Can the middle class be saved?27:53 - One message to takeaway from conversation?Michael 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 - 4th of December, 2024On this episode of the WTFinance podcast I had the pleasure of welcoming back Marc Faber. Marc is a well known contrarian investor & the Editor and Publisher of the “Gloom, Boom & Doom Report”.During our conversation we spoke about his thoughts on the markets, large governments, inflation, economics, US bubble, BRICS currency and more. I hope you enjoy!0:00 - Introduction1:58 - Current view on markets4:28 - No changes to trajectory?7:23 - Governments getting larger11:43 - Shift to smaller governments?16:00 - Inflation24:19 - Why is the average worker worse off?28:32 - Assets undervalued30:33 - US bubble32:59 - BRICS currency34:19 - 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 - 4th of December, 2024 On this episode of the WTFinance podcast I had the pleasure of welcoming back David Hunter. David is a a contrarian macro strategist with 49 years of experience on Wall Street. During our conversation we spoke about David's call of the S&P500 reaching 6000 during the lows, how his next projection is for it to hit 7500, Trump trades, dollar bullishness, precious metals, the everything bubble and more. I hope you enjoy! 0:00 - Introduction 0:58 - David’s perspective on market 3:18 - Why S&P to 7,500? 6:18 - $7trn yet to invest 7:25 - Trump trade 13:40 - US Tariffs 19:18 - Dollar bullishness 20:45 - Precious metals 22:50 - Everything bubble 27:40 - Unloved industries? 34:20 - One message to takeaway from our conversation?David is an 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. His strong macro capabilities combined with a contrarian philosophy have allowed me to forecast economic cycles and spot market trends well ahead of the consensus. David is an intellectually honest, independent thinker comfortable with charting a course away 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

Julian Brigden, Head of Research at Macro Intelligence 2 Partners, shares his wealth of knowledge on the economic landscape. He discusses the implications of a new Trump term, particularly how tariffs might affect inflation and corporate profits. Brigden raises concerns about a looming bond crisis and the precarious state of foreign investment in U.S. assets. He examines the strong dollar's paradox and its impact on risk assets while highlighting precious metals as a strategy for wealth preservation amid volatility.