Comments
Transcript
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JPImo if the EM trade is really a buy and go to the beach, I think it would be nice to have a list of good ETFs. One thing that I'm skeptical of based on Raoul's commentary is that he often points to the chart of the EEM ETF. While I do read it as bullish, if you look at the holdings of the ETF the breakout isn't really due to EM as a macro concept. EEM has large exposure to hong kong. Its largest holding is Taiwan Semiconductor Manufacturing, which is relatively priced similar to US competitors. It also holds nearly 1% of Chinese EV bubble stock NIO, among others. I like the trade, I'm just not sure how to allocate without picking up a lot of baggage.
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JTThere was mention that Raoul will be rotating out of BTC at the high and moving into EMs. Is this true? If so would you kindly provide some context? I suppose we are looking at another "roughly" 80% correction on BTC? Thank you in advance. @Raoul Pal
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JRThank you so much for taking my question on bonds. My learnings: * The fed rate is the lowest because it is the lowest risk. * Increasing risk in any risk dimension increases yields. Time and solvency are risks. * When inflation (or expected inflation) goes up bond yields go down and vice versa. * Higher bond yields creates demand for a currency. * It is very complicated and I won't get to the bottom of it any time soon :P Thanks for also turning my basic "teach me" question into a discussion about how to approach a new topic. You two are the best!
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CMBite ‘Em Bears, Jack. Ever true....
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JPGreat interview.
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WGGood job guys. What you do is hard work and you make it look easy discussing complicated topics into a camera. I like the honesty I see on the daily briefs. No one attempts to "sell" their ideas. Refreshing and honest like your point that your time horizon and ability to accept risks as a 20 something is clearly different than a 50 something. You should be super bullish at your age whereas that would be foolish for someone in their 70's. I had to chuckle about the response to the tax question. It sounds like the legal team made it clear you can never discuss taxes. Odd given the huge impact it can have on the final profit level. Taxable verse tax free bonds tradeoffs have huge impacts. Maybe it is time to bring a couple of tax experts on for discussions since it makes no sense to take risks to make 20% just to lose 12% to taxes when you could take much less risk to make 15% and only lose 6% to taxes. Just a thought.
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WMSolid content .. Nice job guys.
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RAI’ve been with RV from almost the beginning and never imagined being able to watch the “Young Bucks”. I have really enjoyed watching each of you progress and seeing your confidence, albeit, with humility, build. This video is proof of what you guys are capable of. Although I have been retired for many years I often think back to my favorite thing about starting and running a business—the mentorship....to watch the Apprentice become a Journeymen and then ultimately a Master is breathtaking. And before you both weigh in with your usual “humility” about where you are on the scale I will simply say that “I saw them come and I saw them go and there is no doubt in my mind that you both will reach the pinnacle”. I just continue to be amazed by RV...every time I think they have fallen back, they reinvent themselves and move decidedly forward. You guys have been a big part of the RV evolution.
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PGExcellent! Perhaps I should have asked the question beforehand, but would have been interesting to hear some anecdotes and observations of your peers and acquaintances in your age group on the topics of urban vs. suburban/rural migration, employment situation, and general sentiment with everything that's going on these days...
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jbWhen bitcoin becomes the basis of bond issues, it will be real. Any chance of that?
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GHNothing's crashing (yet) today. Normally when there's a pre-recorded episode there's blood all over the screen LOL.
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ARExcellent job young bucks. You guys are both well beyond your years - smart, humble and always learning. Keep up the great work and thanks for all you do on RV.
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ZTI'm really bulllish on the future of these two young bucks.
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MSNice teamwork - well done both!
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JIGreat work you both! Look forward to hearing more from you. Stay safe...
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AEDon’t understand the neg dislikes. I really enjoyed the episode. May be not as “sophisticated” as other interviews. If you don’t like, just don’t watch?
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SWYou two are great together! Learned a lot. Thank you!
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HKYou guys are cool
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JDWhat a fantastic interview. Really appreciate your candor and authenticity!!! You guys are rock stars!
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DMWTF is a fish concert?
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KLIn god we trust, isnt that printed on the dollar? Bitcoin has a religious part to it for a reason. Its a code that forces honesty, transparency, fairness and greed. You are used to thinking linearly, Bitcoin is nothing like that. Bitcoin is a whole universe of thoughts. You guys are severly underestimating it. Take more time reading human psychology and the history of mankind. Too much financial litteracy numbs the mind. Money is a social construct, remember that.
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AFgreat stuff, thanks fellas!
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ISYoung bucks! Great update, fellas.
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NLjust starting my young guns daily brief..