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EssentialThe Essential Conversation

Memories of 1987: Felix Zulauf's Outlook on Equities, Bonds, Currencies, and Commodities

Featuring Felix Zulauf and Raoul Pal

Feb 18, 2021 • 62 minutes

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Essential

The Essential Conversation

Memories of 1987: Felix Zulauf's Outlook on Equities, Bonds, Currencies, and Commodities

Felix Zulauf discusses the interplay of rates, equities, & inflation and his macro outlook as debt and demographics reshape the future of growth.

Featuring Felix Zulauf and Raoul Pal

Feb 18, 2021 • 62 minutes

Raoul Pal, CEO and co-founder of Real Vision, welcomes Felix Zulauf, legendary investor and CEO of Zulauf Consulting, to share his thoughts on the interplay of interest rates, equities, and inflation as well as share his macro outlook as debt and demographics reshape the future of economic growth. Zulauf believes that the current macro setting of rising yields and a falling dollar mirror the conditions prior to the 1987 equity crash, commonly known as Black Monday, which wiped out hundreds of billions of dollars worth of equity valuation overnight. Zulauf sees this correction not as a disaster scenario but merely a detour to another leg higher. Zulauf remains constructive on equities, at least in the long-term, due to his belief that central banks are dedicated to propping up risk assets like never before since a decline in risk assets by 10% would roughly correspond to a loss in 1% of GDP growth. Filmed on February 11, 2021. Key learnings: Zulauf sees a possibility of a 10-15% correction in the near-term as rising yields trigger investment models to cut back risk. He thinks rising yields will make for a bleak 2021 for gold although he is constructive on the precious metal in 2022 and beyond. Show More

The Essential Conversation is the world's premier financial-market-focused conversation series. The smartest people in markets, finance, economics, and business engage in deep-diving discussions about the global macro landscape, generating actionable takeaways that can help your decision-making process. Tune in to peer-to-peer conversations between the brightest minds in the investing world, and tune up your portfolio.

More Episodes

The Essential Conversation is the world's premier financial-market-focused conversation series. The smartest people in markets, finance, economics, and business engage in deep-diving discussions about the global macro landscape, generating actionable takeaways that can help your decision-making process. Tune in to peer-to-peer conversations between the brightest minds in the investing world, and tune up your portfolio.

More Episodes

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