WTFinance

Interview Recorded - Wednesday the 22nd of February, 2023On todays episode of the WTFinance podcast I had the pleasure of speaking with Mark Spiegel, Managing Member & Portfolio Manager of Stanphyl Capital Partners.During our conversation we spoke about why the FED are causing a recession, whether stocks will go down big, why this will be led by Tesla and other overvalued stocks and what would have to change for Mark to go net long. I hope you enjoy!0:00 - Introduction0:50 - Overview of the markets3:38 - Are the FED causing a recession?5:50 - Risk free returns7:00 - Big stocks to go down?9:25 - Could a bear market be avoided?11:35 - What type of companies is Mark investing in?15:25 - Should you short Tesla due to its fanbase? 21:15 - No value on Tesla AI, Trucks or battery company?23:40 - Tesla target price?28:25 - What would have to change for Mark to go net long?30:30 - Any other industries that Mark is watching?34:25 - One message to takeaway from our conversation?Mark B. Spiegel is the Managing Member & Portfolio Manager of Stanphyl Capital Partners (founded in 2011) and is a New York based equity investor. From late 2003 through early 2009 he was an investment banker (most recently as a Principal with Piper Jaffray & Co.) financing smallcap & microcap public companies. Prior to becoming an investment banker Mark spent a year working for a microcap Nasdaq tech company, and he began his career with 17 years in the commercial real estate industry where he negotiated hundreds of transactions and experienced firsthand the opportunities and challenges faced by a wide array of businesses. Mark believes that all of these experiences– banking public companies, working for a small public company and securing real estate for a wide variety of companies– combine to provide the kind of “real world” experience that makes him a better investor.Mark Spiegel - Twitter - https://twitter.com/StanphylCapWebsite - https://stanphylcap.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/AnthonyFatseasThumbnail picture from - https://www.jbs.cam.ac.uk/insight/2021/defining-detecting-measuring-asset-price-bubbles/

Interview recorded - 22nd of February, 2023During todays WTFinance podcast I had the pleasure of speaking with John Rubino, Founder of dollarcollapse.com, author/co-author of 5 books and macro writer. During our conversation we spoke about why our financial system will implode, what that means for our world, when is the right time to position in real assets and what the next currency system will be. I hope you enjoy!0:00 - Introduction0:50 - Why will our financial system implode on itself?4:40 - What would cause a deflation or hyperinflation spiral?7:40 - Debt crisis or currency crisis?9:55 - Is there a way to inflate away the debt?14:05 - Does the dollar milkshake theory still occur before US currency implosion?17:17 - Short period of US Dollar strength before collapse?21:20 - When is the right time to position in real assets?23:25 - A risk of confiscation of precious metals?27:40 - Best tradeoff to make?30:50 - Next currency system after the implosion?35:00 - One message to take away from our conversation?John Rubino is a former Wall Street financial analyst and author or co-author of five books, including The Money Bubble: What To Do Before It Pops and Clean Money: Picking Winners in the Green-Tech Boom. He founded the popular financial website DollarCollapse.com in 2004 and sold it in 2022.John's newsletter provides actionable advice, based on a couple of premises:- The financial world is spinning out of control and will get considerably worse before it gets better.- There are things we can do to improve our odds of surviving and thriving as the chaos unfolds.John Rubino - Substack - https://rubino.substack.com/LinkedIn - https://www.linkedin.com/in/john-rubino-a952146/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/AnthonyFatseasThumbnail picture from - https://coinpedia.org/opinion/the-u-s-dollar-could-collapse-in-next-4-months-heres-how-you-can-protect-your-finances/

Interview recorded - 21st of February, 2023On todays episode of the WTFinance podcast I had the pleasure of speaking with Keith Dicker, Founder & Chief Investment Officer at IceCap Asset Management.During our conversation we spoke about where risk is currently in the markets, why we have been desensitised to risk, which country could be the catalyst and what assets would be protected during a global crisis. I hope you enjoy!0:00 - Introduction1:41 - Where is the risk in the markets?5:25 - What is currently happening in the macro environment?11:30 - Polycrisis 12:10 - Desensitised to risk 16:10 - Dollar Milkshake theory 18:30 - Which country are the most at risk of collapse and what does this mean for US assets?24:00 - The consequence of passive money flows26:14 - Central banks have more to protect fixed income28:02 - When will the crisis happen?29:30 - One message to take away from conversation?Keith Dicker, CFA founded the company in 2010 and is the President and Chief Investment Officer. He has over 20 years of investment experience as a portfolio manager focusing on managing wealth for clients all over the World.Keith started his career in Halifax as a portfolio manager with a large Canadian bank where he managed high net worth portfolios on a discretionary basis. Next, for ten years Keith managed portfolios for an offshore bank in Bermuda where as a senior portfolio manager and head of global equities, he was responsible for global investment strategies including asset allocation, equities, fixed income, commodities, alternative investments, and multi-currency. Keith earned the Chartered Financial Analyst (CFA) designation in 1998 and is a member of the Chartered Financial Analysts Institute.Keith has been recognized by the CFA Institute, Reuters, Bloomberg and the Globe & Mail for his perspective on global macro investment strategies. He is a frequent speaker on the challenges and opportunities facing investors today and is available to present to groups of any size. Please contact him directly.Keith Dicker - Website - https://icecapassetmanagement.com/Twitter - https://twitter.com/IceCapGlobalLinkedIn - https://www.linkedin.com/in/keith-dicker-cfa-64448221/Podcast - https://thelooniehour.ca/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 - 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