Daily Briefing – November 18, 2020

Published on
November 18th, 2020
Duration
35 minutes


Daily Briefing – November 18, 2020

Daily Briefing ·
Featuring Jack Farley, Ed Harrison, and Thomas Thornton

Published on: November 18th, 2020 • Duration: 35 minutes

Real Vision Managing editor Ed Harrison hosts Tommy Thornton, founder of Hedge Fund Telemetry, to discuss the opportunities and risks on the investment horizon. Tommy explores whether the ongoing rotation into value will continue, sharing his views on sectors such as energy, financials, and retail. He and Ed then investigate whether bonds’ rally is a harbinger of trouble for stocks, and how various asset classes such as gold and bitcoin perform should there be a major selloff in the equity market. Lastly, Tommy discusses why he remains bearish on Tesla despite its significant rally, and shares his fundamental analysis of the electric vehicle maker as well as his framework for managing risk. In the intro, editor Jack Farley looks at oil futures, vaccine progress, and MTA’s woes.

Comments

Transcript

  • FP
    Fabio P.
    19 November 2020 @ 02:53
    TSLA is the toughest short in the market, fundamentals X price makes no sense. As long it has access to credit it will be around. thanks for the brief.
    • JF
      John F.
      19 November 2020 @ 21:44
      Sounds like his personal bias is clouding his judgement. Not sure why one would bother with the short.
  • GH
    Guy H.
    19 November 2020 @ 12:37
    TSLA valuation might not make sense as a traditional automaker, but it might as an Amazon-style "reinvest everything" medium term play on electrification. Generation (solar), storage (batteries) and transportation (EVs) all wrapped up in a company that looks more like an Edison lab than a car company - to borrow a Sandy Munro phrase. I'm not long, sadly, but continue to marvel at the hardiness of those who want to spend their precious TSLA time allocation looking for shorting opportunities in the face of 18-months of this price action.
    • AM
      Alonso M.
      19 November 2020 @ 15:23
      Medium term play on electrification --> buy copper and natural gas. If you don't feel lonely when you're alone, uranium might also make sense as a medium term play on electrification. AMZN share price dropped from about $100 to $5 from late 2000 to late 2002. It was a bloodbath. It took until 2010 for AMZN price to surpass $100 with conviction.
  • GH
    Gloria H.
    19 November 2020 @ 14:32
    So many good insights on timeframes, psychology, risk mgmt. Thanks, guys.
  • DM
    David M.
    19 November 2020 @ 12:47
    Awesome insight. Thanks for coming on again Tommy!
  • Jv
    Juri v.
    19 November 2020 @ 11:03
    Thomas Thornton always great!
  • RY
    Roy Y.
    19 November 2020 @ 10:13
    As always, love Tom's insights and his measured pace of delivery. Thank you. both..
  • Ev
    Edwin v.
    19 November 2020 @ 07:27
    Wonderful interview and inspiring thoughts. I especially like the mental aspects of the trades. Remember too seeing gains of a monthly salary in just a day in that bull run and it does freak you out. Rather have 10 consecutive days of 2% than 20% in one day. Healthier in many ways 😉
  • DS
    David S.
    18 November 2020 @ 23:53
    Jack....Hef?
    • JF
      Jack F. | Real Vision
      19 November 2020 @ 04:12
      What do you mean?
    • MC
      Mark C.
      19 November 2020 @ 04:53
      He wears it well though.
    • CW
      Corey W.
      19 November 2020 @ 05:47
      @Jack, David means Hugh Hefner... there's only one Hef ;)
  • DR
    Diana R.
    19 November 2020 @ 05:20
    Really like Thomas Thornton. Calm, honest and knowledgeable.
  • PW
    Peter W.
    19 November 2020 @ 02:57
    Great episode - pls. bring him on for RVDB more frequently!
  • PW
    Peter W.
    19 November 2020 @ 02:57
    Great episode - pls. bring him on for RVDB more frequently!
  • NL
    Nikola L.
    19 November 2020 @ 02:08
    good brief.
  • IN
    I N.
    19 November 2020 @ 01:40
    No such thing as an "initial capital", but just "capital" Ed. Happy anniversary Tom.
  • TC
    Timothy C.
    19 November 2020 @ 00:30
    So I love RV, but one comment on interview style. When mentioning the big 5 as growth stocks, why not push back? I'm not sure some of them are growth stocks anymore. I love the way Michael Green handles this stuff - he's like a modern day financial Columbo
    • TC
      Timothy C.
      19 November 2020 @ 00:45
      Another example, in the petroleum market. Ok so stocks are at lows. Are they fundamentally under valued and why? What are the fundamental factors that change that? 68% of consumption in the US is transportation. It's not my wheelhouse for sure, but I'd like to hear reasoning.
  • RL
    Ricardo L.
    19 November 2020 @ 00:38
    Thank you for talking about Tesla