Ultra Money Stream

INK Canadian Insider spring 2020 presentation (preliminary)

In our spring presentation, we look at why the INK Canadian Insider Index has outperformed the broad Canadian market during relatively strong inflation periods. If the relationship holds, the Index could do well under a G-economy characterized by government-driven inflation. Finally, we explain how this scenario relates to the all-important asset mix decision. Click on the paper clip for the slides and check back for presentation updates.

Daily Briefing - May 25, 2020

Senior editor Ash Bennington joins Real Vision CEO and co-founder Raoul Pal to discuss the latest developments in macro and coronavirus. Bennington and Pal discuss the collapsing velocity of money and stagnant US growth, the Canadian and Australian housing markets, and what the future of commercial real estate may look like in a post-coronavirus world.

Galaxy Digital comeback

Bitcoin and digital currency focused Galaxy Digital Holdings (GLXY) is up more than 30% since INK Research highlighted insider buying in the stock on April 27th. At the time, the Galaxy Digital was a top mover up the INK Edge rankings. Now, it is near the top with a sunny outlook, putting it in the top 10% of all stocks ranked. On May 23rd, INK wrote about the stock in the Globe and Mail's Who is buying and selling feature. INK CEO Ted Dixon also reviewed a recent Real Vision interview with Galaxy Digital CEO Michael Novogratz. For those who missed the interview read more about the outlook for bitcoin and digital currencies by visiting the Canadian Insider blog.

Daily Briefing - May 22, 2020

Senior editor Ash Bennington sits down with Real Vision CEO and co-founder Raoul Pal to explore the latest developments in markets and macro. They dive into why debt mutualization won’t be enough to save Europe, what the elimination of GDP targeting means for China, and how Hong Kong’s limited autonomy is slipping from its grasp with China’s latest security law announcement. The pair also discuss the challenges of a solvency crisis, the rising threat of deflation, and the plummeting two year U.S. Treasury yield.

More Power To The Princes

Professor Richard Werner joins Hugh Hendry, founder and former CIO of Eclectica Asset Management, for a deep-dive into the world of central banking. They explore the process of credit creation and examine the fundamental role it plays in inflating asset bubbles, the popping of which can wreck whole economies but can be very good for central bankers. They analyze the Bank of Japan’s (BOJ) remarkable record of credit expansion, including its use of lending quotas, through the lens of Werner’s renowned book, “Princes of the Yen,” which was a number one bestseller in Japan. They also look at the ongoing efforts of the Fed and the European Central Bank (ECB) to provide liquidity during this unprecedented global crisis at all costs, particularly debt monetization and quantitative easing (a term Werner himself coined), which Werner suggests could lead to a widespread bank nationalization – or a “Sovietization” of the banking sector, as he says. Werner argues that the ECB is undemocratic and that it bears a closer similarity to the Reichsbank (1876 – 1945) than it does to the Bundesbank (1957-present). Hendry and Werner conclude their lengthy discussion by looking forward: they scrutinize the current and future monarchs of the global monetary order, who are no longer princes but who may be on their way to becoming kings. Hugh Hendry can be found on Twitter at @hendry_hugh and on Instagram at hughhendryofficial. Filmed on May 15, 2020.

Most Popular

Real Vision May 08, 2020
Daily Briefing - May 8, 2020
Ash Bennington hosts Real Vision Co-Founder and CEO Raoul Pal as they look forward to the biggest voyage Real Vision has ever gone on: Global Recession: What's Next? Over the course of this two-week content campaign, some of the brightest minds in finance will be sharing their views with you. Raoul and Ash also discuss the broad impact and context of the coronavirus crisis and look ahead to what we will learn in the coming weeks from economic data. In the intro, Jack Farley analyzes the unprecedented labor statistics and shares the story of one U.S. worker who lost his life on the job.
Real Vision May 15, 2020
Daily Briefing - May 15, 2020
Real Vision's CEO and co-founder, Raoul Pal, joins Senior Editor Ash Bennington to update viewers on his "Unfolding" thesis about the trajectory of the COVID crisis and its effects on the economy and markets. He also unpacks his views about the solvency risks in the BBB bond market and reviews highlights from his interviews with legendary investors Howard Marks and Kyle Bass.
Real Vision May 18, 2020
Daily Briefing - May 18, 2020
Real Vision Senior Editor Ash Bennington hosts Managing Editor Ed Harrison to make sense of a roaring day on Wall Street. They analyze the extreme bullishness in today's session through the lens of Fed Chair Powell's remarks, and discuss yield divergences in European sovereigns, as well as the valuation of European banks. In the intro, Jack Farley takes a look at recent 13F filings.
INK Videos May 11, 2020
First Quantum in fashion
Copper producer First Quantum Minerals (FM) will be reentering the INK Canadian Insider Index during the Index's quarterly rebalancing on Friday. INK Research takes a look at some of the factors that are driving the stock up the INK Edge rankings.

Starting Points

Stock Ideas

More Power To The Princes

Professor Richard Werner joins Hugh Hendry, founder and former CIO of Eclectica Asset Management, for a deep-dive into the world of central banking. They explore the process of credit creation and examine the fundamental role it plays in inflating asset bubbles, the popping of which can wreck whole economies but can be very good for central bankers. They analyze the Bank of Japan’s (BOJ) remarkable record of credit expansion, including its use of lending quotas, through the lens of Werner’s renowned book, “Princes of the Yen,” which was a number one bestseller in Japan. They also look at the ongoing efforts of the Fed and the European Central Bank (ECB) to provide liquidity during this unprecedented global crisis at all costs, particularly debt monetization and quantitative easing (a term Werner himself coined), which Werner suggests could lead to a widespread bank nationalization – or a “Sovietization” of the banking sector, as he says. Werner argues that the ECB is undemocratic and that it bears a closer similarity to the Reichsbank (1876 – 1945) than it does to the Bundesbank (1957-present). Hendry and Werner conclude their lengthy discussion by looking forward: they scrutinize the current and future monarchs of the global monetary order, who are no longer princes but who may be on their way to becoming kings. Hugh Hendry can be found on Twitter at @hendry_hugh and on Instagram at hughhendryofficial. Filmed on May 15, 2020.

Investing Strategy

INK Canadian Insider spring 2020 presentation (preliminary)

In our spring presentation, we look at why the INK Canadian Insider Index has outperformed the broad Canadian market during relatively strong inflation periods. If the relationship holds, the Index could do well under a G-economy characterized by government-driven inflation. Finally, we explain how this scenario relates to the all-important asset mix decision. Click on the paper clip for the slides and check back for presentation updates.

Policy Disruption

More Power To The Princes

Professor Richard Werner joins Hugh Hendry, founder and former CIO of Eclectica Asset Management, for a deep-dive into the world of central banking. They explore the process of credit creation and examine the fundamental role it plays in inflating asset bubbles, the popping of which can wreck whole economies but can be very good for central bankers. They analyze the Bank of Japan’s (BOJ) remarkable record of credit expansion, including its use of lending quotas, through the lens of Werner’s renowned book, “Princes of the Yen,” which was a number one bestseller in Japan. They also look at the ongoing efforts of the Fed and the European Central Bank (ECB) to provide liquidity during this unprecedented global crisis at all costs, particularly debt monetization and quantitative easing (a term Werner himself coined), which Werner suggests could lead to a widespread bank nationalization – or a “Sovietization” of the banking sector, as he says. Werner argues that the ECB is undemocratic and that it bears a closer similarity to the Reichsbank (1876 – 1945) than it does to the Bundesbank (1957-present). Hendry and Werner conclude their lengthy discussion by looking forward: they scrutinize the current and future monarchs of the global monetary order, who are no longer princes but who may be on their way to becoming kings. Hugh Hendry can be found on Twitter at @hendry_hugh and on Instagram at hughhendryofficial. Filmed on May 15, 2020.

Innovation

More Power To The Princes

Professor Richard Werner joins Hugh Hendry, founder and former CIO of Eclectica Asset Management, for a deep-dive into the world of central banking. They explore the process of credit creation and examine the fundamental role it plays in inflating asset bubbles, the popping of which can wreck whole economies but can be very good for central bankers. They analyze the Bank of Japan’s (BOJ) remarkable record of credit expansion, including its use of lending quotas, through the lens of Werner’s renowned book, “Princes of the Yen,” which was a number one bestseller in Japan. They also look at the ongoing efforts of the Fed and the European Central Bank (ECB) to provide liquidity during this unprecedented global crisis at all costs, particularly debt monetization and quantitative easing (a term Werner himself coined), which Werner suggests could lead to a widespread bank nationalization – or a “Sovietization” of the banking sector, as he says. Werner argues that the ECB is undemocratic and that it bears a closer similarity to the Reichsbank (1876 – 1945) than it does to the Bundesbank (1957-present). Hendry and Werner conclude their lengthy discussion by looking forward: they scrutinize the current and future monarchs of the global monetary order, who are no longer princes but who may be on their way to becoming kings. Hugh Hendry can be found on Twitter at @hendry_hugh and on Instagram at hughhendryofficial. Filmed on May 15, 2020.

Style Channels

Contrarian

To Catch a Falling Knife

Howard Marks of Oaktree Capital Management shares with Real Vision co-founder and CEO Raoul Pal his investing framework. He and Raoul explore just how late we are in the credit cycle and look at risks and opportunities that lie ahead. Marks discusses the principles that made him one of the world’s greatest investors – discipline, contrarianism, and selectivity – and reflects how these principles serve as guiding stars during this time of unprecedented uncertainty. Marks’ specialty is putting capital to work when others have lost their nerve – or, as he describes it, “to catch falling knives” – and he shares with Raoul how he plans on identifying and selecting value at a time when the Fed’s recent actions have clouded the investment landscape by artificially distorting security prices. Filmed on May 12, 2020.

Growth

More Power To The Princes

Professor Richard Werner joins Hugh Hendry, founder and former CIO of Eclectica Asset Management, for a deep-dive into the world of central banking. They explore the process of credit creation and examine the fundamental role it plays in inflating asset bubbles, the popping of which can wreck whole economies but can be very good for central bankers. They analyze the Bank of Japan’s (BOJ) remarkable record of credit expansion, including its use of lending quotas, through the lens of Werner’s renowned book, “Princes of the Yen,” which was a number one bestseller in Japan. They also look at the ongoing efforts of the Fed and the European Central Bank (ECB) to provide liquidity during this unprecedented global crisis at all costs, particularly debt monetization and quantitative easing (a term Werner himself coined), which Werner suggests could lead to a widespread bank nationalization – or a “Sovietization” of the banking sector, as he says. Werner argues that the ECB is undemocratic and that it bears a closer similarity to the Reichsbank (1876 – 1945) than it does to the Bundesbank (1957-present). Hendry and Werner conclude their lengthy discussion by looking forward: they scrutinize the current and future monarchs of the global monetary order, who are no longer princes but who may be on their way to becoming kings. Hugh Hendry can be found on Twitter at @hendry_hugh and on Instagram at hughhendryofficial. Filmed on May 15, 2020.

High Yield & Income

More Power To The Princes

Professor Richard Werner joins Hugh Hendry, founder and former CIO of Eclectica Asset Management, for a deep-dive into the world of central banking. They explore the process of credit creation and examine the fundamental role it plays in inflating asset bubbles, the popping of which can wreck whole economies but can be very good for central bankers. They analyze the Bank of Japan’s (BOJ) remarkable record of credit expansion, including its use of lending quotas, through the lens of Werner’s renowned book, “Princes of the Yen,” which was a number one bestseller in Japan. They also look at the ongoing efforts of the Fed and the European Central Bank (ECB) to provide liquidity during this unprecedented global crisis at all costs, particularly debt monetization and quantitative easing (a term Werner himself coined), which Werner suggests could lead to a widespread bank nationalization – or a “Sovietization” of the banking sector, as he says. Werner argues that the ECB is undemocratic and that it bears a closer similarity to the Reichsbank (1876 – 1945) than it does to the Bundesbank (1957-present). Hendry and Werner conclude their lengthy discussion by looking forward: they scrutinize the current and future monarchs of the global monetary order, who are no longer princes but who may be on their way to becoming kings. Hugh Hendry can be found on Twitter at @hendry_hugh and on Instagram at hughhendryofficial. Filmed on May 15, 2020.

Cryptos, Gold, & Hard Assets

INK Canadian Insider spring 2020 presentation (preliminary)

In our spring presentation, we look at why the INK Canadian Insider Index has outperformed the broad Canadian market during relatively strong inflation periods. If the relationship holds, the Index could do well under a G-economy characterized by government-driven inflation. Finally, we explain how this scenario relates to the all-important asset mix decision. Click on the paper clip for the slides and check back for presentation updates.

Real Vision

Real Vision May 25, 2020
Daily Briefing - May 25, 2020
Senior editor Ash Bennington joins Real Vision CEO and co-founder Raoul Pal to discuss the latest developments in macro and coronavirus. Bennington and Pal discuss the collapsing velocity of money and stagnant US growth, the Canadian and Australian housing markets, and what the future of commercial real estate may look like in a post-coronavirus world.
Real Vision May 22, 2020
Daily Briefing - May 22, 2020
Senior editor Ash Bennington sits down with Real Vision CEO and co-founder Raoul Pal to explore the latest developments in markets and macro. They dive into why debt mutualization won’t be enough to save Europe, what the elimination of GDP targeting means for China, and how Hong Kong’s limited autonomy is slipping from its grasp with China’s latest security law announcement. The pair also discuss the challenges of a solvency crisis, the rising threat of deflation, and the plummeting two year U.S. Treasury yield.
Real Vision May 22, 2020
More Power To The Princes
Professor Richard Werner joins Hugh Hendry, founder and former CIO of Eclectica Asset Management, for a deep-dive into the world of central banking. They explore the process of credit creation and examine the fundamental role it plays in inflating asset bubbles, the popping of which can wreck whole economies but can be very good for central bankers. They analyze the Bank of Japan’s (BOJ) remarkable record of credit expansion, including its use of lending quotas, through the lens of Werner’s renowned book, “Princes of the Yen,” which was a number one bestseller in Japan. They also look at the ongoing efforts of the Fed and the European Central Bank (ECB) to provide liquidity during this unprecedented global crisis at all costs, particularly debt monetization and quantitative easing (a term Werner himself coined), which Werner suggests could lead to a widespread bank nationalization – or a “Sovietization” of the banking sector, as he says. Werner argues that the ECB is undemocratic and that it bears a closer similarity to the Reichsbank (1876 – 1945) than it does to the Bundesbank (1957-present). Hendry and Werner conclude their lengthy discussion by looking forward: they scrutinize the current and future monarchs of the global monetary order, who are no longer princes but who may be on their way to becoming kings. Hugh Hendry can be found on Twitter at @hendry_hugh and on Instagram at hughhendryofficial. Filmed on May 15, 2020.
Real Vision May 21, 2020
Daily Briefing - May 21, 2020
Real Vision's managing editors Ed Harrison and Roger Hirst sit down to discuss the latest developments in markets, macro, and coronavirus. Nick Correa talks about the new waves of infections in South Korea and the country's unique challenges in containing and stopping the spread.

INK Videos

INK Videos May 25, 2020
INK Canadian Insider spring 2020 presentation (preliminary)
In our spring presentation, we look at why the INK Canadian Insider Index has outperformed the broad Canadian market during relatively strong inflation periods. If the relationship holds, the Index could do well under a G-economy characterized by government-driven inflation. Finally, we explain how this scenario relates to the all-important asset mix decision. Click on the paper clip for the slides and check back for presentation updates.
INK Videos May 23, 2020
Galaxy Digital comeback
Bitcoin and digital currency focused Galaxy Digital Holdings (GLXY) is up more than 30% since INK Research highlighted insider buying in the stock on April 27th. At the time, the Galaxy Digital was a top mover up the INK Edge rankings. Now, it is near the top with a sunny outlook, putting it in the top 10% of all stocks ranked. On May 23rd, INK wrote about the stock in the Globe and Mail's Who is buying and selling feature. INK CEO Ted Dixon also reviewed a recent Real Vision interview with Galaxy Digital CEO Michael Novogratz. For those who missed the interview read more about the outlook for bitcoin and digital currencies by visiting the Canadian Insider blog.
INK Videos May 21, 2020
Insiders wired for a G-economy
INK Research ends the week by looking at a stock that would likely benefit from a return of inflation. The last 5 years have not been kind to the share price. However, insiders are betting on a sea change ahead.
INK Videos May 20, 2020
Insider buying is on deck
Today INK Research looks at a junior natural gas-biased producer that has been rallying on the back of encouraging pricing and production news. Insiders have been buying, betting that better days are ahead.