Comments
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HRListening in January 2020 its good to ferret out how right or wrong people were. Mark get plenty wrong and wrong big. Here are just 3 examples: 1. Wrong on 2017/2018 recession call. 2. Wrong on Deutsche Bank as he was bullish in 2017. Have a peak at the chart of DB. Brutal. 3. Wrong big on Argentina as he was very bullish in mid 2017 and on EM in general. Argentina and EM in general performed very poorly since.
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khGreat interview Grant, Mark as always at his finest. Clarity of ideas, please try to line up Steven Bregman on the dangers of ETFs, Jim Rogers again on his recent pronouncements of an impending market correction and lastly Jim Chanos if possible
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MCSome really great points and very insightful but lost me on the ETF section - also looked up Steven Bergman (mentioned). I think it's a case of active managers talking their book and their pay cheques. Many examples of the ETF technology working through stressed markets. What ETFs have done is rationalize cost. A manager needs to prove they are unequivically worth 2/20, 1/10 etc.
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RABoy I sure like listening to people who do their homework. Mark and Grant never disappoint. As much as I like listening to well reasoned arguments, I REALLY like listening to arguments that have a great foundation based upon research and slipping a plane through mountains of accurate data.
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RS''Well let's go back to Greek banks and talk about doubling our money'' :D Amazing global macro view! Love it!!!!
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TTGreat interview. Common sense driven investment advice
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PSLots of great stuff, but I would like to point out one thing... Mark's comments on Tesla were very inaccurate. I'm not trying to say that their multiples are justified, or that eventual bankruptcy isn't a possible outcome. What I am saying is that he didn't even consider the other possible outcome... the one where they are not "just" a car company. Yes they produce cars, but they are also engineering an entire ecosystem with their solar roof and household battery packs. Ecosystems worked pretty well for Apple. He was also way off base to say that cars sit around collecting dust 90% of the time. That may be the case right now, but there are some huge developments happening which very well may change that. Once cars become fully autonomous, your car could be driving around earning you money while you're at work. Now they're going up against Uber as a transportation logistics technology company. In short... there's a lot more going on that he very clearly disregarded. Whether he's right in the end... anyone's guess.
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CMExcellent video on the ETF Divide. You can view it on Vimeo.
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CMAlways enjoy Mark's comments. For someone who is not into technical analysis, appreciate the macro videos.
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ggVideo of the year! Guest of the year! Enough said, Yusko is a general
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BFBrilliant conversation. Another reason why real vision in REAL!
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CEGrant's suggestion, to get Steven Bregman's "On the ETF divide" was the most valuable comment during the 60 minutes of MY's trite comments.
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CEGrant...please take care of yourself. You don't look well.
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IAI'm always left a little disappointed by MY. Lots of catch phrases but very little to no original thought process or meaningful analysis.
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JDGreat Stuff ... One of Your Best...
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KSGreat insight! Doesn't know much about turkeys though ;)
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CJIsn't morgan creek just a fund of funds? With very poor returns at that (its public info on their website) so 1) how is he a HF mgr? 2) if this guy is so smart why isn't he managing money vs just raising money to give to other guys to run? I'm confused as to why his opinions are so valuable...
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CMyour best interview yet. Absolutely brilliant in its clarity and simple logic. just drawing up a list of people i have to send it to!
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DFOne of my favourites. Mark is such a smart, articulate guy. Great topics Grant, one after the other all relevant, fantastic discussion. Thought provoking and cuts through the BS. Brilliant :-)
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SDOn Greek banks Alpha Bank is the biggest and, in my limited experience with them, pretty well run- for a Greek financial company. Symbol is Alpha. It has some analyst coverage from international houses. and John Paulson is the 2nd largest shareholder. Too big to fasil in Greece.
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VMSaudi's / emirates to buy the USD that the Chinese are selling. I think comment on passive might as well have been don't buy anything in an index. Oil tracking the USD imo...
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LSWow. Love a good macro analysis.
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GBAny ideas about what Greek banks would be good value for money?
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ELanother brilliant value to subscribers
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ADTesla chart, whats that about?
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ABThoroughly enjoyable - lots of little tiny snippets thrown in there - the Hormel/Campbells/XON(& how it stretches) really good.
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MLI think this is my favorite interview so far... simply because I understood about 90% of it :)
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TSGreat interview!. Would have liked a little more reasoning for the bear dollar position. $ is overvalued using McDonald s index. However, supply/demand favors stronger $. I would also debate Abe is a great leader or Abenomics has any long term teeth. Time will tell
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NHA lot of repetition from the past interview with mark.was hoping for more insight.time to bring back Dan tapiero
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IOCome on. Mentioning criptocurrency and not talking about it? That's just mean.
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HJGrant, your the best! Need more actionable thoughts...... Thanks for your efforts
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RCIf the TSLA chart at 42:33 is supposed to be of the share price, it's incredibly incorrect. Am I missing something?
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TSGreat fun to watch, tremendous value and articulation. Makes my weekend.
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JMYet another insightful interview from a classic Ben Graham value manager. I have a question on the USD play. When the USD imploded in 2008/09 I think it was primarily because the global credit implosion started in the USA via subprime and took some time to reflect in other currencies. However the next global implosion which may be ignited via Debt, CB action/inaction, Geopolitical, Ecological, Wealth Disparity, Trump incompetence, immigration, to name just a few, the result would be a flight to safety. After the initial inflows to Gold, Crypto, the last possible asset available in the volumes required to accommodate the demand for safety surely has to be the 10yr Treasury. So this I think must lead to an excessive demand for USD? Add to this the devaluation of the Yen as is required I think by Japan and a possible need for the Chinese to weaken the Yuan at a later stage It suggests to me that the USD has one last stand before its departure. Yes Trump requires a weaker USD to accomplish any of his stated objectives, However putting any faith in him or his administration is tantamount to financial suicide I think.
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AHAgree Ryan, might be a bear forecast included unintentionally :-)
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JSthoroughly enjoyed this wide ranging interview
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WEMark / Grant - Come on guys have an opinion, take a position...get off the fence! Just kidding! Great discussion that will require me to listen at least 1 if not 2 more times. Many thanks for helping round out my thinking.
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VKHahaha, the bit from debating ideas, the Keynes quote and the Seth Klarman impression from Mark is identical to the last interview. Really good interview, good job both.
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RDYusko = Edge
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AHLove it! Very good interview!