Comments
Transcript
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LSI feel like Hayley is finally relaxed on camera.
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DGIf the FED can buy the short end, why can't they buy the long end? Plus I just watched a video with Dr. Manmohan Singh from the IMF talking out the plumbing of the financial system, and how treasuries are vehicles for rehypothecation, how does that impact his thesis?
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SVBig fan of Peter, even though we disagree on where yields and the dollar are headed.
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TCI have a lot of respect for Peter and love listening to his views. Don't always agree, but also realize I'm wrong plenty... The interaction between Treasuries and inflation is getting complicated. I'm not sure I agree that we get a 1.5% to 2% yield on the 10Y. There are $7T of 2Y-7Y coming due in the next 4 years and only $1.3T of 10Y. A 1.5% 10Y is going to infect the middle of the curve. There are a number of separate feedback loops in operation here. History doesn't repeat, but it often rhymes. We are at one of those points where inflation and treasury rates are disassociating... I grew up around Ag, but I'm no expert. I do know there has been a 3.3% CAGR for fertilizers in last few years and Soy fertilization cost is less than 1/2 of Corn. Not arguing there isn't a trade there, just saying it takes a lot of work to analyze demand in that market.
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SCJust visited Rye just before Massachusetts made quarantine mandatory for out-of-state travel. Nice place, love the view out of the window.
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LSOn the notion that fertilizer 'enhances the productivity of land' - what happens is that fertilizers give farmers higher short term yields and lower long term ones. Fertilizers turn soil into dirt. Farmers are realising this too, they're opting to go low input / low debt over getting hooked on fertilizer until bankruptcy.
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MDGood job Haley. You are a plus for the Real Vision team.
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JLThank you Haley! You have been a wonderful addition to the RV team. Happy and healthy holidays to all
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KBYou are awesome, even in your pajamas. Real People at RealVison..... Thank you again Haley.
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acHaley, you do a great job, THANK YOU! And Happy Holiday's to you and the entire RV team!!
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MNI appreciate the work of Haley, Jack and the entire Real Vision team. Happy Holidays!
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CWNot sure I follow. Boockvar sounds bullish, then points out we are at irrational exuberance levels and that could explode. All I see is risk, no recovery. I don't understand where all the positive sentiment is coming from. This will not end well.
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VKJack, Abaxx Technologies (commodities tokenization) interview would be great. BTW, is that virtual background? :)
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ERWell done Jack. Well prepared and good structure. And you manage to hold on to specifics, which is very useful. Good job.
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SSGreat show. Would love to hear more off the cuff stuff from Hayley! Looking forward to 2021 with you guys. Btw, any chance you could get Milton Berg back on? Would love to hear an update from him.
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JAI don't see why anyone continues to think that nominals are going to be allowed to go up in a meaningful manner.
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DM"You mentioned the assets your bullish on, where do you expect that liquidity to come from?" You would never find a question like that on CNBC, this is why I'm here.
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soMr. Boockvar refuses to drink the cool aid. Me too. I also prefer fertilizer and gold/silver.
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CMPeter's the BEST. And this was the best of the best. Haley concludes aptly with very kind words: well-deserved praise. Jack is the young turk, and somehow (like Haley) he has fancy properties on every coast. (!?) Thank you all on and off air talent for the great RVDBs and RV content all year. Happy Holidays.
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NLthank you Haley, Jack and Peter. Great DB.
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SWJack does a phenomenal job filling in for Ash!