Bitcoin, Weed, and the Value Rotation Trade

Published on
November 24th, 2020
Duration
38 minutes


Bitcoin, Weed, and the Value Rotation Trade

Daily Briefing ·
Featuring Tony Greer, Ash Bennington, Haley Draznin

Published on: November 24th, 2020 • Duration: 38 minutes

Senior editor Ash Bennington welcomes back Tony Greer of TG Macro to make sense of today’s price action as the equity markets roar to all-time highs. After the pair briefly discusses the significance of the news that Janet Yellen will likely be named Treasury Secretary, Tony shares his analysis on the value rotation away from the tech giants into cyclical reflation plays like banks, casinos, hotels, and energy. As Tony says, “the world is getting back in business”. Ash and Tony then look the performance of Bitcoin as it approaches its 2017 highs, and explore the future of gold as an inflation hedge. Lastly, Tony gives an update on his trades in the cannabis sector. In the intro, Real Vision's Haley Draznin analyzes the market rally to record highs as the Dow surpasses 30,000 for the first time ever and looks into the anticipated rebound in the economy for the second half of 2021.

Comments

Transcript

  • JM
    Jay M.
    26 November 2020 @ 21:11
    BTFD!
  • JD
    John D.
    25 November 2020 @ 05:53
    Did anyone watch the government's press conference this week regarding their legislation changes that will reduce drug prices? Within the presentation, the government admitted that Big Pharma were PO'd, hence why they delayed the news release regarding CV vaccines until post election. Basically they are now hoping a Biden administration and his swamp team will roll back any changes that limit Big Pharma reach/profitability.
    • AK
      Arthur K.
      26 November 2020 @ 18:39
      Plausible, how about a theory that with less election noise their stock prices go up more. More profit for them to sell into.
  • TM
    Tyler M.
    26 November 2020 @ 01:51
    Tony is the one guy I avoid on RV. He can’t separate his personal political views from his trading and that’s dangerous. It also detracts from RV being different than the majority of financial advice outlets. But it’s mainly that he’s incredibly rude in the comments section. If Raoul’s one rule is “don’t be a dick,” TG regularly violates this.
  • JD
    John D.
    25 November 2020 @ 09:32
    Guys, what tools can we use to understand rotation of flows? For years, you talk about this topic, but never help main street investors understand what tools to use.
    • WT
      William T.
      25 November 2020 @ 21:23
      I think they're called charts
  • JD
    Jason D.
    25 November 2020 @ 14:07
    Calling it weed? You don't call alcohol "hooch". It's cannabis. This platform is smarter than that.
    • CW
      Corey W.
      25 November 2020 @ 16:06
      Canopy Growth, one of the biggest companies in the space, goes by WEED as their stock ticker. So if that term is good enough for the industry, it's probably good enough for Real Vision.
    • WT
      William T.
      25 November 2020 @ 21:17
      In my day it was called 'dope' now that it's legit and mainstream it's called cannabis
  • AS
    Ash S.
    25 November 2020 @ 21:12
    Great RVDB.
  • WM
    William M.
    25 November 2020 @ 20:53
    Haley please don't perpetuate what makes CNBC so unwatchable (stocks up = happy mood, stocks down=somber mood). Sometimes stuff going up isn't good news, if it adds fragility to the system. Furthermore, some real vision folks might be short, Please refrain from editorializing (stocks up=good, stocks down=bad) with your tone ..
  • FC
    Freddie C.
    25 November 2020 @ 16:05
    What were the Cannabis Stocks that Tony recommended adding to our watchlists? I got these: (CURLF) Curaleaf Holdings, (GTBIF) Green Thumb Inds, and CRLBF Cresco Labs Inc. But I believe there was one more... Pure Leaf? Couldn't find that. I've been happy with my small holdings of MSOS and VFF recently.
    • ac
      ace c.
      25 November 2020 @ 19:45
      The other one he mentioned was TCNNF. Trulieve Cannabis.
    • DL
      David L.
      25 November 2020 @ 20:25
      I believe the fourth mentioned was Trulieve, TCNNF.
  • GH
    Guy H.
    25 November 2020 @ 19:36
    If appointing professional, experienced experts is "DC swamp", then I'll take it over nazis, grifters, con artists, mobsters, QAnon woo-woos and the rest of the bunch of dysfunctional misfits that make up current and former cabinet and senior admin. How many former members of this disaster admin have been indicted and/or jailed? And that's with a DOJ thoroughly corrupted from four years of lawless leadership. And please correct me but I thought the US hadn't started a new war since the GW Bush administration - 12 years at least? Pity, because the actual market content was pretty good.
  • SS
    Stephen S.
    25 November 2020 @ 16:22
    Interesting show!
  • IW
    Ian W.
    25 November 2020 @ 16:06
    I'm really liking the Ash + TG dynamic. Good analysis, as always. I'm also pretty convinced on the cannabis trade. Thanks to RV for highlighting MSOs in recent weeks, as I somehow missed that this was a category (with an ETF: MSOS). Happy thanksgiving to you all!
  • VK
    Vaclav K.
    25 November 2020 @ 05:32
    Haley Draznin is getting better. Much more voice variation.
    • BW
      Bradley W.
      25 November 2020 @ 12:06
      still painful to listen to
    • JL
      Jason L.
      25 November 2020 @ 13:59
      Couldn't agree more that she is getting better, Vaclav! Who is this clown Bradley W...
    • CC
      Colin C.
      25 November 2020 @ 15:16
      listen to her at 1.25 speed
  • PP
    Patrick P.
    25 November 2020 @ 02:26
    If you're a Bitcoin investor.... you need to read this .... BTW ....Kuppy is a very smart guy. https://adventuresincapitalism.com/2020/11/24/why-this-reflexive-ponzi-scheme-will-continue/
    • CD
      Carl D.
      25 November 2020 @ 03:06
      you should look up mike green's take on kuppy's largest position $JOE
    • DR
      Derrick R.
      25 November 2020 @ 03:44
      Have you heard of tankers sir
    • PP
      Patrick P.
      25 November 2020 @ 14:22
      JOE is up 60% in the last two months ....and I made money on Kuppy's shipping call .... you just need to know when to sell ....
  • AP
    Ash P.
    25 November 2020 @ 13:21
    GODL!
  • RY
    Roy Y.
    25 November 2020 @ 13:15
    Super - thank you Ash and Tony! Have a great Thanksgiving break!
  • OM
    Owen M.
    25 November 2020 @ 12:29
    great show, keep it ups guys. have a good Thanksgiving.
  • AC
    Alex C.
    25 November 2020 @ 11:45
    Great show guys! Ash's comments nail it in terms of the reason behind the demand for Bitcoin at the moment, I dont think you can look at it in relation to other markets atm. Appreciate TG's view on the market. The last couple of shows have been refreshing and insightful. Cheers
  • TM
    Ted M.
    24 November 2020 @ 23:44
    Biden is not President Elect. Will go to SCOTUS and even DOD
    • DS
      David S.
      24 November 2020 @ 23:46
      No such office....Invented by Obama
    • LA
      Lawrence A.
      24 November 2020 @ 23:47
      You're delusional if you think the SCOTUS is going to stop a Biden presidency at this point. None of them have to answer to Trump any longer. They got what they wanted out of him.
    • MS
      Mark S.
      25 November 2020 @ 00:21
      Whoa, the Kool-Aid is strong with this one.
    • ML
      Max L.
      25 November 2020 @ 00:48
      Q
    • CB
      Clifford B.
      25 November 2020 @ 08:37
      What flavor this time? Or have we dumped kool aid and gone straight to the 1 gallon grape drink...
    • NE
      Nathan E.
      25 November 2020 @ 09:44
      Let me say AGAIN - it's great you have strong opinions on politics, but this is an investing platform. There are plenty of other forums out there where you can have this debate, please seek them out. If we don't moderate this kind of stuff RV will turn into Seeking Alpha quickly. Instead of raging about politics, how about we focus comments on the reason we are here (education and making $) and maybe even try to help one another as investors???
  • CA
    Chris A.
    25 November 2020 @ 00:37
    You need to get rid of Tony if he can’t keep his personal politics out of the discussions. He does it every time. I’ve always valued how apolitical RealVision is. Today he went into the conspiracy-theory whining about the vaccines being delayed to hurt Trump. Clearly he’s a very bright guy but he’s an idiot about politics.
    • MC
      Mark C.
      25 November 2020 @ 00:45
      Realvision isn't political but their guests have opinions...it wouldn't be normal not to. It doesn't mean you can't learn anything. One of the most political interviews was Dr. Dena Grayson on the Pandemic back in spring...i learned a lot and it is playing out just like she said. I filtered out her political dialogue
    • MP
      Michael P.
      25 November 2020 @ 01:18
      Trump was saying for months that there would be a vaccine prior to the election. It gets announced six days after the election but the results had been know for weeks at a minimum. If it was not for political purposes, what was the cause for the delay? Turn off MSNBC and CNN and think for yourself Chris.
    • JS
      Jon S.
      25 November 2020 @ 01:21
      The analysis is factual. Three Monday's in a row about vaccines post an election during a pandemic warrants an observation. It is you, Chris, who's being political. "whining", "idiot". As Raoul says, "don't be a dick".
    • FH
      Francis H.
      25 November 2020 @ 01:28
      You are wrong! MR. Real Vision Raul made a point of saying no vaccines coming when Trump said will have by December. No the entire narrative changes- what a bunch of tools!
    • SG
      Steve G.
      25 November 2020 @ 03:27
      Typical lefty...he has a different viewpoint than me...he must be got rid off!
    • JF
      John F.
      25 November 2020 @ 04:03
      Great idea Chris A! Let's get rid of the one guy on RV that understands what is going on in the market and how to read it. More Tony G!
    • DG
      David G.
      25 November 2020 @ 04:23
      If companies sat on the information it was either to not affect the election(though not releasing affects it too), or because they don't like trump the person. The latter is his fault. His policies didn't get him unelected, it was his mouth, behavior, and divisiveness. You would think at some point he would have realized that he was over playing his appeal to the extreme side of his base, and that he only had votes to lose from the moderate side. The pivot from the rhetoric that reasonable people wanted, would have guaranteed him re-election, despite Covid-19 and vaccine news timing. He caused Dems to vote him out and some republicans to vote for the libertarian or pocket their vote all together at the top of the card. Why blame a drug maker and not the man himself?
    • DG
      David G.
      25 November 2020 @ 04:36
      To be clear, Tony needs to stay, though from a stock market perspective, I'm not sure why he would prefer Trump over Biden, with a divided congress; using words like "swamp" to describe Biden picks. Do you want your punch with sugar or cyanide? I'd rather die from Diabetes in old age, than poison in my youth. I don't have enough guns, gold, land, and isolation for free market capitalism at this point in my life, I need more time!!!!!!!!
    • NE
      Nathan E.
      25 November 2020 @ 09:38
      To clarify further on my comment regarding Tony's politics, I don't necessarily care that he is a Trump supporter - it's a free country and his political views are his business. Political events (like Yellin as a cabinet pick) that impact markets do have a place in the discussion on RV - how might her appointment impact markets? How are you thinking about it as an investor? My point was what DOES NOT have a place on RV are his personal opinions of said political events that have zero to do with policy impact or investing- i.e. Yellin is a 'DC Swamp' person or throwing out a conspiracy theory on the timing of vaccines. What does that have to do with what we are paying for on RV? I don't know about the rest of you but Im here for sober, thoughtful discussions that filter out noise...and that stuff to me is the epitome of noise.
  • JS
    Jon S.
    25 November 2020 @ 09:31
    As a plus subscriber i start to think rv is going too far with free content. This is just my opinion.
  • NK
    Niro K.
    25 November 2020 @ 09:31
    This is painful
  • kR
    kirk R.
    25 November 2020 @ 07:39
    So.... did anyone else notice that the remaining time on the video was EXACTLY 4:20 when TG started listing off the cannabis stock names? Well Played RV... well Played! :)
  • JD
    John D.
    25 November 2020 @ 05:49
    Agree. Yellen is definitely one of swamp's A team. What a joke.
  • NE
    Nathan E.
    25 November 2020 @ 05:36
    I turned this off 5 minutes into the interview and I listen to DB every day. I don’t pay good money for RV to listen to someone’s political gripes and paranoid conspiracy theories as that’s free on Facebook. Please stick to expert sources who can stay focused on investment related topics and POVs.
  • MH
    Martin H.
    25 November 2020 @ 03:24
    Haley, relax, slower deeper. That is easier to listen too. Otherwise thanks.
    • DG
      David G.
      25 November 2020 @ 04:04
      Listen at 2x and pay attention to the blink rate to mouth speed ratio lol. At 1x I'm not sure you would notice the blinks.
  • DR
    Derrick R.
    25 November 2020 @ 03:43
    Sounds like Greer is gonna be buying dips in BTC with us. Hell yeah
  • SG
    Steve G.
    25 November 2020 @ 03:24
    Great point about bitcoins market cap being the highest ever right now.
  • jG
    james G.
    25 November 2020 @ 00:25
    is Bitcoin big enough yet to steal Golds thunder?
    • sc
      sung c.
      25 November 2020 @ 01:08
      Seems to me it's already stealing gold's thunder. Note BTC going up last two months while gold and silver trending downward in same period.
    • MH
      Martin H.
      25 November 2020 @ 03:22
      No... but there are many people that would like to see that happen.
  • MD
    Matt D.
    25 November 2020 @ 03:12
    Excellent RVDB Ash and Tony. The idea of Apple being correlated to BTC is an interesting one - thanks - will keep an eye on that. Makes sense from a flow point of view. There was a lot of great insights packed into there today. Thanks.
  • CC
    Christopher C.
    25 November 2020 @ 03:10
    "Brilliant and earth-shattering sounding" ... lol perfect. No sarcasm detected, TG.
  • JM
    Justin M.
    25 November 2020 @ 03:09
    "despite all of this green we're seeing..." I see you Haley, well done.
  • NL
    Nikola L.
    25 November 2020 @ 02:59
    Tony G and Ash B, you should look at Polkadot. Great report. thanks.
  • MM
    Michael M.
    25 November 2020 @ 02:26
    That was exactly the conversation I needed to hear right now. Thank you!!
  • JM
    John M.
    24 November 2020 @ 23:30
    Janet Yellen, former Fed Chairperson, now working in Biden administration doesn't seem consistent with the notion of Fed independence, or does it?
    • JL
      J L.
      25 November 2020 @ 00:02
      There has only been one truly independent Fed Chairman in the past 50+ years (Paul Volcker).
    • AB
      Ash B. | Real Vision
      25 November 2020 @ 00:25
      I suppose you could argue that it would be far more problematic in the opposite direction: A former secretary of treasury who became fed chair. In this case, though, her last position required independence, while the role of her current position is to represent the administration, especially under the unitary executive theory. It’s an interesting question.
    • FH
      Francis H.
      25 November 2020 @ 01:35
      Yellen is an old dog and like Biden will need to be put down soon! Trump was pro America 1st and why the Econ was doing great before the Wu Tang Virus (my nickname) hit! Now yes, load up on stocks that benefit from manufacturing being sent to China. This Biden admin looking like tales from the crypt!
  • DM
    Dominic M.
    25 November 2020 @ 01:33
    Great show—thanks gents and ma'am.
  • SJ
    Stefan J.
    25 November 2020 @ 00:53
    Thanks for always making the present day market condition clear, concise and actionable. Long Oil and Cannabis is my trade and takeaway
  • MC
    Mark C.
    25 November 2020 @ 00:42
    I wish this daily briefing was tomorrow...i mean the title is perfect for a long weekend.
  • GT
    Guillaume T.
    25 November 2020 @ 00:32
    yep, well bring it down bitcoin bring it down! Can't wait to add more.
  • jh
    jonathan h.
    25 November 2020 @ 00:15
    Awesome to see Tony’s complete disgust with DC politics...yet recognizing the benefits to Wall Street. And bless Ash for trying to provide the balance. Good show guys!
  • AD
    Alexandre D.
    25 November 2020 @ 00:04
    Mr. Bennington back to professionally-administered haircuts - bullish.
    • AB
      Ash B. | Real Vision
      25 November 2020 @ 00:10
      Ha. Professional haircuts would be a great indicator! Unfortunately, in this case, I just haven’t cut my hair in about a month. I’ve been too busy launching RV’s crypto tier!
  • PM
    Parth M.
    25 November 2020 @ 00:08
    Thanks TG, you are the best!! Made some handsome profit on your Oil view.
  • JL
    Jason L.
    25 November 2020 @ 00:04
    Love Haley's recap. Busy week already. Go Bitcoin!
  • JS
    Jon S.
    24 November 2020 @ 23:59
    I love Tuesday's with TG!
  • DS
    David S.
    24 November 2020 @ 23:46
    Cosmo's ears meet Mary Hart