Mike Novogratz of Galaxy Digital Capital Management joins Real Vision’s Raoul Pal for a deep dive into the world of crypto. The two heavyweights delve into the major opportunities and risks, discuss crypto’s influence on institutions, and predict what could be ahead for the space. Filmed on July 31, 2018 in New York.
Marc Levine, chairman of the Illinois State Board of Investment, has overhauled his pension's strategy by firing over 100 active managers and shifting to a reliance on passive management. He explains why he thinks pension managers around the world should follow his lead, in this interview with Michael Green, portfolio manager at Thiel Macro. Levine and Green also discuss the potential crisis of pension underfunding.
Real Vision's new flagship interview series premieres, as famed short seller Marc Cohodes joins Grant Williams for a candid and emotionally raw interview. In the first in a series of extended discussions with successful investors, Grant asks Marc about his short selection process, the difficulty of managing emotions when embroiled in a fight and his current battles with a series of companies he believes to be fraudulent. Marc offers a vicious takedown of biotech company MiMedx, and shares a gut-wrenching story of losing money during 2008, despite being perfectly positioned. Filmed November 21, 2017 in California.
Why does increased workplace surveillance mean there could be a shortage of the hot new Christmas toy? Justine, Roger and Alex discuss why recent mandates in the trucking business will have far-reaching implications for U.S. retailers. Filmed on October 1, 2018.
Jim Grant, the editor of Grant's Interest Rate Observer, sits down with famed fund manager and master short seller Jim Chanos of Kynikos Associates. They discuss the philosophy of shorting stocks, the best way to perform research, and the preferred methods for managing risk within a portfolio. They also discuss Mr. Chanos’s successful shorts on Enron, Valeant and others – as well as his current bets against Tesla and China. Filmed January 24th, 2018 in New York.
David Stockman, the former director of the Office of Management and Budget under Ronald Reagan, and the so-called “Father of Reaganomics,” explains why he sees Donald Trump as a big departure from the Republican president he served. In his view, Trump’s policies will hasten an economic crisis. It all starts with the Fed, which Stockman says has inflated assets, thus increasing wealth inequality. He contends that Barack Obama missed an opportunity to change a “failed regime,” but that Trump’s policy position only furthers the path toward a dangerous outcome. Filmed on January 25, 2019 in New York.
The Data Advantage from Global FX Reserve Constraints
Luke Gromen, founder of FFTT, maps a wide range of data sources to identify economic bottlenecks and potential sources of excess returns. The movements around global FX reserves are significant, pointing to what Luke thinks will be the biggest mean reversion in 70 years. His wide ranging discussion with Michael Green spans the implications for the US dollar and China’s ultimate ambition to print yuan for oil. Filmed on February 9, 2017 in New York.
Why will higher oil prices result in disappointed craft beer drinkers? Justine, Alex and Roger discuss. Plus, Alex delves into the world of academia, and discusses an interesting finding about the way stocks react to earnings announcements. Filmed on May 24, 2018.
Bill Ehrman is a veteran stock picker with decades of success. He’s a legend in the industry, having worked with luminaries like Byron Wien and George Soros and he speaks with Mike Green about the importance of a long time horizon with a strong understanding of your sectors. Packed with insight from his career, Bill explains why he’s always focused forward, without looking back on quarterly performance. Filmed on August 29, 2017, in New York.
Peter and Jon Najarian, co-founders of Investitute, are the best known faces for options trading. In this wide-ranging interview with Real Vision veteran Tony Greer, the brothers explain not only why they left football for finance, but why they eventually left the trading floor entirely. The finance industry has gone through a technological revolution via algorithmic trading, passive investing, and AI. The brothers relive the experience of that revolution and outline how to take advantage of its future. Through all the change, they still see plenty of opportunity for young entrants in the business. Filmed in New York on March 14, 2019.
Why will China’s efforts to clean up its image means more water bottles inside shoes, a recycling black market and higher garbage shipping costs? Justine, Roger and Alex discuss. Filmed on August 27, 2018.