Director bets on the next leg higher in oil and gas exploration
Today, INK Research looks at a micro-cap stock that offers an innovative approach to identifying both on and offshore oil & gas exploration targets. This little company made a big debut in the INK Top 30 Energy Report, grabbing the number 4 spot this month.
Ben Inker -- Jeremy Grantham's Heir Apparent on the Future of Asset Allocation
Everyone knows Jeremy Grantham as the face of GMO, the behemoth money manager that has become legendary for its work on asset allocation, but Ben Inker, head of asset allocation at GMO since 1998, seems to be next in line for the throne. In this interview with Ed Harrison, Inker helps viewers make sense of the post-COVID investment landscape from the perspective of a major asset allocator. Together they discuss everything from the future of the 60/40 portfolio to bonds as an asset class in this new low rate world. They also dig in to US vs. non-US assets, the trouble with popular ex-post facto explanations for FAANG outperformance and narrative bubbles like Tesla, and why the financial sector can be so difficult to value. Filmed on September 21, 2020.
Will Crew Energy sink below its 200-day moving average?
Investors have factored a lot of bad news into oil & gas stocks. But what about the good news? Insiders at Crew Energy (CR) are betting that investors will eventually get on board as the company makes ESG principles a priority.
Are bonds still effective portfolio diversifiers? What can the history of asset-backed securities tell us about their future? These are questions that Tom Rutledge, fixed income strategist at Magnetar Capital, explores alongside Real Vision managing editor, Ed Harrison. Rutledge outlines the myriad array of problems facing fixed-income investors -- from liquidity constraints to finding yield pick-ups as yields continue to decline. He then describes specific opportunities he sees in industries ranging from hospitality to tech. Filmed on September 3, 2020. Click here for Rutledge’s report, “Specialty Finance: An Investor’s History”: https://rvtv.io/2Rt9jtE
Keith Dicker, founder and CIO of IceCap Asset Management, joins Real Vision to give a strategic overview of the U.S. Dollar. Dicker breaks down the Eurodollar system to analyze the pressures on non-dollar currencies: negative rates, extreme debt borrowings, and government deficits spiraling out of control. Dicker takes a look at what is in store for the Turkish Lira as well as other emerging market currencies and discusses the fate of the DXY currencies as well. Dicker then provides a guidepost for how investors can position themselves to take advantage of asymmetric opportunities. Filmed on September 8, 2020. For additional charts from Dicker's long dollar fund (which he co-manages with Brent Johnson), click here: http://icecapassetmanagement.com/wp-content/uploads/2020/05/2020.05.21-Special-Presentation-Santiago-IceCap.pdf
James Altucher, author and former hedge-fund manager, speaks to Real Vision senior editor, Ash Bennington, about his recent head-turning op-ed, “NYC is Dead Forever – Here’s Why.” James lays out his thesis in detail, arguing that a work-from-home economy is a death-knell for everything that is quintessentially "New York" -- from hot dog stands to Broadway shows. James and Ash discuss the consequences on commercial real estate as well as how this scenario might affect other asset classes. They explore the worst-case scenario and the potential silver linings. Filmed on September 2nd, 2020.
If you haven’t been living under a rock, you’ve probably heard the narrative that cities are dead and that white collar workers, now unburdened by the ability to work from home, are fleeing to the suburbs as fast as they can. Logan Mohtashami, lead analyst at Housing Wire, explains to Real Vision’s Ash Bennington why it is nothing more than an interesting narrative. He goes on to add that, aside from a few pockets in New York and San Francisco, the relative strength in the suburban housing market is being driven by the only factors that matter -- demographics and mortgage rates. Bennington and Mohtashami also drill down on the relationship between bond yields and mortgage rates and the knock-on effects into housing demand that you could see depending on different scenarios for those rates. Filmed on August 26, 2020.
Today, INK Research looks at junior natural gas and liquids producer Pipestone Energy (PIPE) which is focused on the Montney formation in Alberta. The company has ambitious production growth plans, and insiders have been hungry for the stock.
George Goncalves: Why the Fed Wants to Avoid Yield Curve Control
Many have written off the bond market as the arbiter of truth with claims that the Fed’s intervention into the market has removed price discovery. In this interview, bond strategist George Goncalves argues otherwise and makes the case that there is still plenty of valuable information left in the long end of the curve. He also points out that the Fed has stepped back from the market recently, touches on the Fed’s ever-dwindling quiver of arrows as it relates to yield curve control, and explains why he believes they will do anything they can to avoid it. Additionally, he gives his short and long-term view on where yields are headed, arguing that although he doesn’t believe the low is in for yields, we may see 1.00% or higher on the 10-year before we get there. Filmed on August 25, 2020.
What happens when the monetary and fiscal engines run too hot? This is the question that Larry McDonald, New York Times bestselling author and founder of the Bear Traps Report, explores with Real Vision CEO, Raoul Pal. McDonald and Pal start by analyzing the valuations of high-flying tech stocks and discuss whether they will continue to soar or make an early landing. The pair then examine in detail the remarkable price action seen over the past few months in commodities such as precious metals, lumber, and natural gas. McDonald compiles this appreciation as evidence to explore his thesis that excessive stimulus could serve as a "cobra effect" to augur a hyperinflationary economic collapse. Filmed on August 18, 2020. For more of Larry McDonald's charts, click here: https://rvtv.io/3hwFEv3. Find more information about Larry McDonald's work at http://www.thebeartrapsreport.com.
There will always be debate surrounding what is the best way to gain exposure to precious metals. Should you buy gold miners, an ETF, maybe trade futures? It can all seem very complicated, but what if you want to do it the way it has been done for centuries -- owning physical metal with your name on it stored in a vault in a secure location? Mark Yaxley, general manager at Strategic Wealth Preservation (SWP), sits down with friend and client Raoul Pal to answer that very question and discuss how SWP has made it easy to buy, sell, and store precious metals in the Cayman Islands in a safe, legal, and affordable way for countless clients from all over the world. Together, they also discuss the state of the physical gold market, Mark and Raoul’s outlooks for the asset class, differences between coins and bars from assorted global producers, and the types of clients Mark is seeing step into the physical market at this exciting time for precious metals. Filmed on August 19, 2020. To find out more about SWP or open a physical metals account, go to www.swpcayman.com/realvision.