Danielle DiMartino Booth, chief strategist at Quill Intelligence, interviews George Goncalves of The Bond Strategist in his first appearance on Real Vision. As two former insiders at the Dallas Fed, Danielle and George deconstruct the US Dollar liquidity problems and help clarify the major structural issues confronting the repo markets. Filmed on September 18, 2019 in New York. Please see Danielle & George’s note here - https://www.realvision.com/fed-insiders-on-dollar-repo-madness-report.
Michael Moro, CEO of Genesis, an over-the-counter market-maker for cryptocurrencies, explains how he discovered bitcoin, recognized its value, and dove headlong into the industry. . This clip is excerpted from a video published on Real Vision on June 28, 2019 entitled “An Inside Look at Big Money’s Bitcoin Trading.”
Philipp Vorndran, investment strategist at Flossbach Von Storch for a decade and former chief investment strategist at Credit Suisse Asset Management, speaks bluntly about Europe’s money management business and the approach he is taking at his firm to maximize total return for investors. He shares his global perspective in the face of an uncertain outlook for investment in European-based companies. In addition to detailing his firm’s asset allocation strategies, Vorndran also tackles the need for physical gold, and addresses the coming crisis in European pension companies who are universally under-leveraged to equities. Filmed on August 30, 2019 in Cologne, Germany. Learn more about Macro Insiders here: http://www.realvision.com/macro-insiders
Whitney Tilson, founder and CEO of Empire Financial Research, talks to Ed Harrison about how a few big risks he took early in his career allowed him to grow his fledgling hedge fund. Heeding the advice of Warren Buffet provided him the perspective to identify the opportunities in non-consensus equities through the dotcom bubble. Tilson shares why that perspective helped develop his investment process. This clip is excerpted from a video published on Real Vision on September 13, 2019 entitled “The Endless Hunt for Value.”
Dave Floyd of Aspen Trading Group is known for his expertise in technical analysis, but in this episode, Floyd explains why technicals alone aren’t enough to build an airtight investment thesis. He highlights the other factors he uses in combination with technical analysis, and breaks down what these indicators are saying for bonds, currencies, and equities. Filmed on September 18, 2019 in Bend, Oregon.
Andreas Steno Larsen, joint head of macro strategy at Nordea Markets, sits down with Roger Hirst to discuss the European banking system’s current predicament and the implications of the ECB’s recent announcement of “QE Eternity.” He runs down the risks facing Europe to explain his forecast for what the next five years will look like for the Eurozone. Steno Larsen also shares his thesis regarding whether central banks can stay one step ahead of the markets. Filmed on September 13, 2019 in London.
Tony Greer, editor in chief of The Morning Navigator, breaks down the FOMC’s decision to cut interest rates and discusses why he thinks it’s business as usual for markets. In this interview with Alex Rosenberg, Greer walks through the recent spikes in both oil prices and the repo market respectively, highlights the trade war’s impact on the bond market, and reviews where he expects the 10-year Treasury note to head next. Filmed on September 18, 2019.
Ned Naylor-Leyland of Merian Global Investors talks about the tradeoffs between investing in mining stocks and in bullion alone. Naylor-Leyland lays out the risks associated with investing in the different parts of the gold and silver markets, and explains why a position in miners and bullion alike can expose one’s portfolio to massive returns in the event of a major trend reversal. This clip is excerpted from a video published on Real Vision on October 22, 2018 entitled “Silver and Gold in the Modern Portfolio.”
Simon White, co-founder of Variant Perception, explains his view that as interest rates approach the zero bound, conventional monetary policy tools do not achieve their intended goals, but instead create deflationary pressures. He argues that in a negative-rate world, the private sector increases savings rates to combat their lack of income - causing an even bigger deflationary push. White believes that conventional monetary policy is nearing its limits, and MMT will unleash a flurry of inflation as politicians take control of policy. Filmed on September 13, 2019 in London. Variant Perception’s whitepaper on MMT can be accessed at this link: https://rvtv.io/2kEGXzQ
Komal Sri-Kumar, president of Sri-Kumar Global Strategies, updates his home-run trade on Treasuries and reviews his current outlook for recession. In this interview with Jake Merl, Sri highlights the upcoming FOMC meeting, discusses why the trade war is the main driver for the bond market, and notes his expectations for the 10-year Treasury yield. Filmed on September 17, 2019.
Russell Clark of Horseman Capital explains to Roger Hirst why the Chinese are in a sticky currency situation. Clark argues that as the global economy sputters and the trade war rages on, there is a risk that the Chinese authorities will be pushed to further devalue the renminbi. This clip is excerpted from a video published on Real Vision on July 11, 2019 entitled “Will Chinese Devaluation Be the Black Swan.”