Ultra Money Stream

Ultra Money Free: Retail on the outside

COVID-19 has turned the retail industry inside-out. INK Research takes a look at an example in the REIT area where Plaza Retail (PLZ.UN) has been outperforming. This report was highlighted in the July 10th Globe and Mail.

Daily Briefing - July 10, 2020

Is the idea of a V-shaped recovery dead? Real Vision CEO Raoul Pal and senior editor Ash Bennington explore that question in depth through the lens of the virulent reemergence of COVID-19 in the U.S. Raoul and Ash break down the alarming rise of cases coming out of many states and analyze the effect that this ominous second wave will have on markets. They also discuss Ash’s seminal interview today with Dr. Kayvon Modjarrad, director for Emerging Infectious Diseases at the Walter Reed Army Institute of Research. Raoul is firm in belief that the human reaction function is what matters and that the virus’s effect on behavior is more significant than the virus itself. Raoul concludes that caution is prudent in these uncertain times and that the bond market is sending the clearest signal to investors. In the intro, Peter Cooper examines market news and coronavirus data.

Inside the COVID-19 Vaccine Project

Dr. Kayvon Modjarrad, director of the Emerging Infectious Diseases Program at Walter Reed Army Institute of Research, joins Ash Bennington to explain what the Department of Defense’s coronavirus vaccine research project is doing to combat the pandemic. Dr. Modjarrad breaks down the different factors that have culminated to increase the difficulty of creating a vaccine. He shares details on the vaccine that his research group is creating with nanoparticles that bind to the virus itself. Finally, he answers questions like, “how long will vaccine deployment take?“, “what effects do mutations have on the success of vaccines?“, and “how does one protect themself from COVID-19?” from the perspective of an infectious disease doctor on the inside of the scientific effort to mitigate this deadly pandemic. Filmed on July 8, 2020.

Will EV battery metals juniors be next to join the party?

The shares of Tesla (TSLA) have soared on the back of large flows from retail investors. Will battery metals miners join the party? If they do, INK Research looks at potential invitee.

Will Greg Crawford be able to bring it home?

COVID-19 is providing both risks and opportunities to medical equipment providers. Today, INK takes look at Protech Home Medical (PTQ) which has some catching up to do in terms of share price performance compared to 2017 spin-out Viemed (VMD) which has been flying.

Most Popular

Real Vision Jul 07, 2020
Daily Briefing - July 7, 2020
Managing editor Ed Harrison joins Dan Russo, CMT, chief market strategist at Chaikin Analytics, to discuss the latest developments and trends in markets. With his blend of technical and fundamental analysis, Russo shares where he’s seeing relative strength in equities and explains why understanding the macro picture and the interconnected relationships of various asset classes is important for equity traders. Russo and Harrison also dive into currencies, bonds, and the macro trends, especially as it pertains to inflation. In the intro, Peter Cooper talks about remittance and why it’s a critical piece of puzzle for the global economic recovery.
Real Vision Jul 08, 2020
Daily Briefing - July 8, 2020
Senior editor Ash Bennington joins managing editor Ed Harrison to discuss the latest developments in markets, macro, and coronavirus. Ash and Ed first dive into recently released interviews with Stephanie Kelton and with George Magnus and share their takeaways from those pieces. They also talk about how flows are buoying equities, the "summer lull" that is occurring in markets, and the developing macro picture that could pull the rug out from underneath unsuspecting investors in the next few months. In the intro, Peter Cooper explains how coronavirus has affected millions of Americans’ living situations and what lies ahead for both renters and homeowners.
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’' 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 Jul 02, 2020
Market Irrationality, Monetary Confidence, and Systemic Change
Peter Atwater, president of Financial Insyghts LLC, joins Dee Smith of the Strategic Insights Group to break down Atwater's perspective on systemic fragmentation and how that will impact financial markets. Atwater breaks down the end of cycle phenomena of overconfidence, fraud, and an eventual recovery. He and Smith also discuss where market sentiment is headed from here. Atwater and Smith explain how markets act like the world's most expansive social network and the role of money, markets, and faith in making that network work. Finally, Atwater breaks down the relationship between inflation and narrative and why markets have not seen the level of inflation that many have predicted. Filmed June 30, 2020.

Starting Points

Stock Ideas

Inside the COVID-19 Vaccine Project

Dr. Kayvon Modjarrad, director of the Emerging Infectious Diseases Program at Walter Reed Army Institute of Research, joins Ash Bennington to explain what the Department of Defense’s coronavirus vaccine research project is doing to combat the pandemic. Dr. Modjarrad breaks down the different factors that have culminated to increase the difficulty of creating a vaccine. He shares details on the vaccine that his research group is creating with nanoparticles that bind to the virus itself. Finally, he answers questions like, “how long will vaccine deployment take?“, “what effects do mutations have on the success of vaccines?“, and “how does one protect themself from COVID-19?” from the perspective of an infectious disease doctor on the inside of the scientific effort to mitigate this deadly pandemic. Filmed on July 8, 2020.

Investing Strategy

Will EV battery metals juniors be next to join the party?

The shares of Tesla (TSLA) have soared on the back of large flows from retail investors. Will battery metals miners join the party? If they do, INK Research looks at potential invitee.

Policy Disruption

Inside the COVID-19 Vaccine Project

Dr. Kayvon Modjarrad, director of the Emerging Infectious Diseases Program at Walter Reed Army Institute of Research, joins Ash Bennington to explain what the Department of Defense’s coronavirus vaccine research project is doing to combat the pandemic. Dr. Modjarrad breaks down the different factors that have culminated to increase the difficulty of creating a vaccine. He shares details on the vaccine that his research group is creating with nanoparticles that bind to the virus itself. Finally, he answers questions like, “how long will vaccine deployment take?“, “what effects do mutations have on the success of vaccines?“, and “how does one protect themself from COVID-19?” from the perspective of an infectious disease doctor on the inside of the scientific effort to mitigate this deadly pandemic. Filmed on July 8, 2020.

Innovation

Inside the COVID-19 Vaccine Project

Dr. Kayvon Modjarrad, director of the Emerging Infectious Diseases Program at Walter Reed Army Institute of Research, joins Ash Bennington to explain what the Department of Defense’s coronavirus vaccine research project is doing to combat the pandemic. Dr. Modjarrad breaks down the different factors that have culminated to increase the difficulty of creating a vaccine. He shares details on the vaccine that his research group is creating with nanoparticles that bind to the virus itself. Finally, he answers questions like, “how long will vaccine deployment take?“, “what effects do mutations have on the success of vaccines?“, and “how does one protect themself from COVID-19?” from the perspective of an infectious disease doctor on the inside of the scientific effort to mitigate this deadly pandemic. Filmed on July 8, 2020.

Style Channels

Contrarian

The Wirecard Debacle: Shades of Enron and WorldCom

Individual market cycles, and particularly their crescendos and finales, have unique characteristics that we use to categorize and differentiate them from other past cycles – the dotcom bubble, the housing crisis, and now, potentially the COVID crisis. One thing that they all have in common, though, is the failure of major companies from either mismanagement or fraud. In this interview, Roddy Boyd of the Foundation for Financial Journalism and Real Vision’s Ed Harrison examine financial impropriety through the lens of Wirecard, the German mobile payments company that has transitioned from a source of German pride to an embarrassment, exposing shoddy work by the lawyers, auditors and regulators tasked with investigating potential frauds and protecting the public. Whether Wirecard is in fact a fraud seems to be clearer with every passing day, but many questions still remain – will the bad actors both inside and outside the company be held accountable, will the company go belly up or be saved by governments increasingly willing to protect companies that are “too big to fail”, and will Wirecard be another shining example of the malfeasance and mismanagement that always seems to be exposed at the end of a market cycle? Filmed on June 24, 2020.

Growth

Will EV battery metals juniors be next to join the party?

The shares of Tesla (TSLA) have soared on the back of large flows from retail investors. Will battery metals miners join the party? If they do, INK Research looks at potential invitee.

High Yield & Income

Stephanie Kelton -- MMT and the Deficit Myth

By both surprise and necessity, Modern Monetary Theory is here at our doorstep. And with neither major party remaining as the party of ‘fiscal responsibility’, it seems there is little standing in the way of MMT becoming the premise for US government spending initiatives. That’s why it is more important than ever to understand the thinking behind MMT and the common misconceptions surrounding it -- and to prepare your portfolio for its increased acceptance by politicians who view it as an invitation to spend. In this interview with Marshall Auerback of the Levy Economics Institute, Stephanie Kelton breaks down the arguments put forward in her new book, “The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy”. Together they discuss why MMT does not give governments carte blanche to spend indiscriminately. Kelton also articulates why comparing government debts to private debts is flawed. She explores the varying gradations of monetary sovereignty as it relates to constraints on countries potentially using MMT as an economic framework. Finally, Kelton touches on the ‘job guarantee vs. UBI’ debate and much more in this interview that is sure to be a learning experience for MMT skeptics and believers alike. Filmed on July 2, 2020.

Cryptos, Gold, & Hard Assets

Will EV battery metals juniors be next to join the party?

The shares of Tesla (TSLA) have soared on the back of large flows from retail investors. Will battery metals miners join the party? If they do, INK Research looks at potential invitee.

Real Vision

Real Vision Jul 10, 2020
Daily Briefing - July 10, 2020
Is the idea of a V-shaped recovery dead? Real Vision CEO Raoul Pal and senior editor Ash Bennington explore that question in depth through the lens of the virulent reemergence of COVID-19 in the U.S. Raoul and Ash break down the alarming rise of cases coming out of many states and analyze the effect that this ominous second wave will have on markets. They also discuss Ash’s seminal interview today with Dr. Kayvon Modjarrad, director for Emerging Infectious Diseases at the Walter Reed Army Institute of Research. Raoul is firm in belief that the human reaction function is what matters and that the virus’s effect on behavior is more significant than the virus itself. Raoul concludes that caution is prudent in these uncertain times and that the bond market is sending the clearest signal to investors. In the intro, Peter Cooper examines market news and coronavirus data.
Real Vision Jul 10, 2020
Inside the COVID-19 Vaccine Project
Dr. Kayvon Modjarrad, director of the Emerging Infectious Diseases Program at Walter Reed Army Institute of Research, joins Ash Bennington to explain what the Department of Defense’s coronavirus vaccine research project is doing to combat the pandemic. Dr. Modjarrad breaks down the different factors that have culminated to increase the difficulty of creating a vaccine. He shares details on the vaccine that his research group is creating with nanoparticles that bind to the virus itself. Finally, he answers questions like, “how long will vaccine deployment take?“, “what effects do mutations have on the success of vaccines?“, and “how does one protect themself from COVID-19?” from the perspective of an infectious disease doctor on the inside of the scientific effort to mitigate this deadly pandemic. Filmed on July 8, 2020.
Real Vision Jul 09, 2020
Daily Briefing - July 9, 2020
Real Vision managing editor Ed Harrison hosts Real Vision's Tyler Neville to discuss the ever-expanding chasm in markets between fundamentals and flows. Drawing upon his experience on the buy-side, Tyler analyzes how market forces such as commission free trading and the widespread adoption of passive ETFs have distorted price discovery, and he and Ed explore whether this means that the bull market mania could last longer than the bears expect. Ed is skeptical and argues that the pain on Main Street must eventually move to Wall Street as well. Ed and Tyler also explore how macro tailwinds such as demographics affect the pension system. In the intro, Peter Cooper looks at job destruction that's currently happening in several different countries and what the long-term effects the pandemic may have on employment.
Real Vision Jul 09, 2020
Meet the Long Vol Kingmaker
You don’t hear “diversification” and “long volatility” often in the same sentence. Yet, their pairing is exactly what Jason Buck, CIO of Mutiny Fund, advocates as essential for all investors seeking to add long volatility exposure to their portfolios. Alongside Hari Krishnan, fund manager at Doherty Advisors, Buck advocates for an “ensemble” approach to anti-fragility. Buck and Krishnan rigorously examine the benefits of different long vol strategies, such as options, shorting indices, and relative value trades on the VIX. Krishnan explains his quantitative framework for evaluating options, and gives in-depth option trading insights based on their tenor and “moneyness.” Buck and Krishnan discuss how a diversified approach to long volatility can heighten the benefits of long vol exposure, especially during “Minsky Moments” such as coronavirus pandemic markets have been experiencing since earlier this year. Filmed on July 7, 2020.

INK Videos

INK Videos Jul 12, 2020
Ultra Money Free: Retail on the outside
COVID-19 has turned the retail industry inside-out. INK Research takes a look at an example in the REIT area where Plaza Retail (PLZ.UN) has been outperforming. This report was highlighted in the July 10th Globe and Mail.
INK Videos Jul 09, 2020
Will EV battery metals juniors be next to join the party?
The shares of Tesla (TSLA) have soared on the back of large flows from retail investors. Will battery metals miners join the party? If they do, INK Research looks at potential invitee.
INK Videos Jul 09, 2020
Will Greg Crawford be able to bring it home?
COVID-19 is providing both risks and opportunities to medical equipment providers. Today, INK takes look at Protech Home Medical (PTQ) which has some catching up to do in terms of share price performance compared to 2017 spin-out Viemed (VMD) which has been flying.
INK Videos Jul 08, 2020
INK Ultra Money Free: KORE Mining west coast digging
KORE Mining (KORE) has taken a distinct west coast approach to mining risk. INK Research explains how the company is tackling some key risks facing the industry.