When European banks get nationalized, what happens to their equityholders? Are they bought out at a premium? Is there a play here for us retail investors? If yes, what would the news triggers be? Thanks - great update as usual. And truly love the new format with more news, directly related to RV dominant theses triggers.

Great video as always guys. Kind of sad that with all your knowledge and experience it all just boils down to follow the fed central planning.

The R. Hurst vino indicator still bullish

Really excellent conversation.

Great explanation of the dollar vis-à-vis EM FX, Roger. Thank you.

I would like to hear from Brent Johnson as a followup. Europe will never unite. Too much history. Its like saying Russia unite with USA. Will never happen. They might trade together have a trade agreement but never unite. A "I am sorry Italy" from Brussels wont hack it. Too many people starving in Italy and too many people have died.

Hi all, You may have noticed some differences in the first part of today's video (the part BEFORE Ed and Roger, from the start of the video to 2:30). We focused more on markets and less on the coronavirus case data. We also tried to provide stories that you may not have heard about (such as Neiman Marcus missing coupon payments) rather than stories you almost certainly have heard about. We're changing and evolving the segment to meet your needs. We would love some feedback on how you feel about these changes, and the opening segment in general. Specifically, could you give your thoughts on these questions: How do you like these changes? How do you feel about the opening segment in general? How could we improve the opening segment? Thanks, Jack

Ed, Roger keep it going, great updates

Roger enjoying the grapes, got to love it.

Love you guys...

Regarding Brent Johnson's Milkshake Theory; he is always at pains to mention that it's not a straight line. We had a sharp move down as people factored in a lot of negativity and no amount of good news could stop it. Now we are seeing the same in the other direction. When there is as much uncertainty, as there is right now, people become overwhelmed and instinctively follow the market. That is, until the point where the only thing that is certain is that the market is in the wrong place. Then we see a change in direction. We seem to be at that point about now. The one constant throughout every crisis in history is people; we never change. I think that is why these retracements recur each time. I suspect we will see big moves between The Dollar and Gold as (on balance) they both move upward. And, US Equities will be knocked one way or the other as that happens.

Excellent content gents - keep it up!!

can any one elaborate on the concentration thesis underlying Amazon's gain? I think Roger alludes to Mike Green but Mike has several videos on RV, not sure which one in particular is about concentration of capital.

Great content, superb quality too! Guys, regarding Ed's note on FED's yield curve control, what probability do you guys see for sub-zero FED rate ?

Interesting thing to note RE: 401k contributions in the US as a source of support. I run the FP&A group of an SMB company and one of our initial cost mitigation moves was to pull the match. Additionally, I believe regulatory change has removed the penalty for early withdrawal. Will be interesting to see if this support remains, or if there is some sort of behavioral change that decreases fund flows (or outright outflows).

Very enlightening episode so many variables to consider🧐

Always enjoy the updates with Roger and Ed. Thanks guys.

Great show lads, I really liked that one!

Awesome as usual guys. What are your thoughts specific to market recovery, regarding the after market story that Gilead Sciences have found a solution (remdesivir) where patients respond positively to treatment? More specifically, how this might impact gold. ------------------------------------- Gilead surges after report suggests COVID-19 patients responding to remdesivir https://www.nasdaq.com/articles/gilead-surges-after-report-suggests-covid-19-patients-responding-to-remdesivir-2020-04-16

Wonderful back & forth. I agree that Fed's actions are amplified by international investors wanting to buy 'that which is supported'

This duo is fantastic, enjoy the chemistry and the the insights. Well done lads.

funny that we discussing Bear market while the market keep rally up up up to all-time high. What is the opposite perspective that explain this run? I mean not everyone buying the bubble... I am sure that there is some rationale around that rally

Another great daily update.. the end made me chuckle too. Thanks for keeping us updated and in good spirits guys.

Which EM currency Roger is looking into it, particularly?

Yes, thankfully less and less about the covid19 hype, if you want to really see how overblown it is, check out Michael Burry's twitter (if you're too lazy it's just like the flu, except with higher R0 but only in certain environments like NY, obviously). So other than that, yes, keep going gents!

I want to hear about gold. There’s no coverage or commentary on it.

Great intro and interview. Last month Canada's Marin Katsua pointed out unprecedented dollar and US strength inherent in new bailouts and SWAP lines. The huge majority of the world's debt is USD denominated, and since Basil III and post 2008 US regs, the USD is not fungible across domains except for those in which the US has deemed to open a SWAP facility (under US terms). That's power.

I'm starting to get FOMO

Great segment. Yes I've had enough of the C-19 updates....if people still care they can certainly learn of those numbers elsewhere. The little known facts are gems...keep them coming

Should the role / power of central banks not be strenghtened during the crisis period ?

At this point, all markets are simply levered gambling for a dwindling number of people. Perhaps industrial commodities or ED are less gamed, but really market capitalism has given way to neo-fascist MMT in pretty much each country.

Liked the opening segment market data and de-emphasis of corona virus info. Wouldn't mind a little more market data, bearing in mind that the discussions with Ed and Roger, etc. are the high point. The briefing is now daily due to the unprecedented current conditions, but I wonder if this could become a regular weekly or semi-weekly feature once things calm down.

Just want to say thanks - these daily segments have been brilliant. Today's has been the best so far (and the competition has been strong!).

Good conversation, abet short term 3m perspective (ie) mkt supported by CB's. What's after that is the question

Great segment as usual. I am just at stunned that anyone would pay $105 for $1 of Amazon earnings... earnings that are very inconsistent at best.

I see Vol getting into the FX next...I'm with the Camp of Insolvency dragging everything down. The Debt to GDP will be horrifying..The GDP going one way and staying down and debt going the other way. Something has to break

Good market commentary. Interesting take on the USD strength on Fed pump and the fund out flow threat for current equity winners.

Keep enjoying those beverages, Roger and Ed!! I'll be doing the same on my end.

S&P 500 futures are looking good right now.