Daniel Lacalle, Chief Economist at Tressis Gestión, debunks the illusion of synchronized growth in a global economy fueled by low rates and rising debt. Lacalle tackles China, where he sees stimulus delivering less growth at progressively higher costs, as well as mounting risks in Argentina, Turkey, India, and other EM economies. Filmed on September 18, 2018 in Madrid.
How can investors position themselves to profit from irrational markets? Diego Parrilla of Quadriga Asset Management explores the opportunities behind bubbles — and their funhouse mirror opposite, anti-bubbles — which result from artificially suppressed prices. Filmed on October 16, 2018 in New York.
Joe Duran’s journey from a childhood in Zimbabwe’s civil war, to growing United Capital to over $17 billion in assets, has given him a unique perspective on the future of the wealth management industry. In this Master Class interview, Joe’s epic personal story is entwined with his views on survival in an ever changing industry, with the central aim of helping his clients live rich. Filmed on February, 8, 2017 in Newport Beach.
The neoliberal model of free trade, open borders, and liberalized capital flows is under assault. Traditional economic models with rational agents and efficient markets don't accord with reality, and people are starting to notice. Even recent advances in behavioral economics have failed to capture this disconnect. Mark Blyth, William R. Rhodes Professor of International Economics at Brown University, and Eric Lonergan, macro hedge fund manager at M&G Investments, explore and seek to resolve these conflicts in their new book, "Angrynomics." Blyth and Lonergan examine how the outsourcing of economic management to grey-suited bureaucrats is fomenting a populist backlash that is redrawing political battle lines and molding the destiny of different asset classes in ways few fully grasp. They analyze the recent largesse of central banks as a sort of asymmetric put-option which rewards those who hold assets and punishes those who don't. Blyth and Lonergan also explore potential solutions, which include dual interest rates, citizens' wealth fund, and - yes - even helicopter money. Filmed on July 8, 2020.
In Episode One of ‘The Big Story – Oil’, Raoul Pal looks at the market positioning and the short term factors influencing supply and demand. Drawing together the views of experts in the commodity space, Raoul examines who is holding these record long positions and where the hedging is taking place. He also asks why the oil price hasn’t risen in spite of this support and if any buyers are going to be there if they pull out.
Daniel Lacalle, chief economist at Tressis Gestión in Madrid, is optimistic for the future of the European project. But in order to get out of the central bank trap and the shambles of monetary union, he believes the central banks have to stop playing the role of pyromaniac firefighter, creating all the elements of a crisis and encouraging massive risk taking for low yields before presenting themselves as the solution by printing more money. Filmed on July 18, 2017, in London.
Steve Diggle, CEO & Founder of Vulpes Investment Management, returns to Real Vision, taking the baton from Hugh Hendry to discuss the real opportunities available in the German real estate market. Steve also explains why he believes biotech to be the greatest human endeavour in the world today, and gives his opinions on Brexit, U.S. politics, and the level of global distress.
Independent thinker David Zervos from Jefferies sits down with Raoul Pal to expand on the stimulative benefits that a fiscal deregulation cycle would bring to the US economy, the effects on productivity growth and how the BOJ’s rampant purchasing of JGB’s could take them to own 80% of outstanding debt, a position which would allow them to write it off having serious consequences on the Yen and the Nikkei Stock Exchange.
Rewind - Stephen Diggle Revisits German Real Estate Trade
Rewind is the only place where the smartest investors explain how their thinking has changed in the context of past predictions, both right and wrong. In this edition, Stephen Diggle of Vulpes Investment Management - who turned $5 million into $5 billion in the space of six years - re-examines German Real Estate, prospects for pharmaceuticals and a potential break up of the euro. Filmed on December 28, 2016 in Singapore.