Interview with Michael Schneider

Published on
April 4th, 2016
52 minutes

Interview with Michael Schneider

The Interview ·
Featuring Michael Schneider

Published on: April 4th, 2016 • Duration: 52 minutes

Michael Schneider, CIO of Brookline Partners, analyses the growing global notional derivative exposure, focusing on the worrying levels of leverage in the Australian banking industry and the highly vulnerable housing market bubble.


  • BP
    Byron P.
    21 February 2019 @ 11:58
    that head tilt......difficult to watch
  • JL
    James L.
    1 November 2018 @ 01:31
    Great interview! Will there be a transcript for this?
  • NT
    Norman T.
    11 July 2016 @ 21:08
    This '8 to 9' times income is not true, I'm afraid. Under APRA pressure we have dialled back from 4.5 to 3.5. and lower Loan to Value ratios too.
    • JV
      Justin V.
      11 July 2017 @ 01:44
      $450k in Indooropilly, 15mins drive out of Brisbane City. $450k in Buderim, 10mins drive from Sunshine Coast beach. You're saying everyone buying in those normal, middle-class areas are earning $100k/year? I'm afraid, you're wrong mate. A normal, average salary in Australia is $50k-$60k. Fitting in perfectly with the "8 to 9" ratio. I find your depth of faith in APRA, disturbing.
  • BE
    Baha E.
    4 April 2016 @ 18:58
    I had to tilt my head watching
    • JV
      Justin V.
      11 July 2017 @ 01:22
      Bahaha! I was just thinking, this poor bloke might have a neck injury.
  • AC
    Andrew C.
    27 April 2016 @ 05:57
    "more sellers than buyers". US stocks are the most under-owned going back to '99. Who will be sellers?
  • AC
    Andrew C.
    27 April 2016 @ 04:49
    On default, Australians still owe the money to the banks; Can't walk away from the loan (v. different from the US). So how will that playout, c.f with the GFC and abandoned suburbs in Detroit, etc..?
  • JF
    Jennifer F.
    13 April 2016 @ 06:34
    So Great to see some Aussies talking about our economy. Cant wait for Gerard Minack too.
  • SB
    Stewart B.
    11 April 2016 @ 21:01
    I'm originally Australian and was there last month. I too was astounded by the public's conviction that this could never happen in Australia.
  • SB
    Stewart B.
    11 April 2016 @ 20:58
    One of the best interviews I've seen. Lindsay David's book/thesis is similar. Please have him back! He is a great thinker.
  • lm
    laura m.
    10 April 2016 @ 03:56
    That psychologist he quoted was actually Tolstoy. That's the first sentence from Anna Karenina if my memory serves me right.
  • SB
    Sergei B.
    9 April 2016 @ 19:27
    Exposure to capital intensive assets is critical in the global deleveraging regime. Return of price discovery in the bond and equity markets.
  • NS
    Nathan S.
    9 April 2016 @ 09:34
    So the big 4 Aussie banks could all fail when the housing market falls. They are collectively too big for the government to save. So.... what happens?
  • WE
    William E.
    8 April 2016 @ 18:18
    Based on all the prior comments, I must apologize for the redundancy...But, great presentation: clear, focused and very insightful. Get him back on before the end of the year.
  • AE
    Andrew E.
    8 April 2016 @ 15:00
    Australian property only goes up...we're different just you wait and see! Great interview, this is the sort of perspective our media in Aus would never report unless to belittle it. Quite a pity.
  • MC
    Michael C.
    8 April 2016 @ 05:12
    Great interview. Enjoyed the discussion on Australian property. There is massive survivor bias in that market and good reasons to be worried.
  • RA
    Ricardo A.
    7 April 2016 @ 12:40
    Interesting local perspective. As suggestion: Would be good to hear more Germans, Dutch, Spanish, Chinese, Japan about their local economies
  • AD
    Anthony D.
    7 April 2016 @ 03:32
    Question for Michael. As this crisis hits its peak, will the capital markets operations function? Will they be open for business? Where do you hold your "cash" to buy on the other side of this?
  • SS
    Sanjit S.
    7 April 2016 @ 02:05
    gloommy, but well articulated. i think ill just end myself. those dumb bankers! I wish hayek was alive to buy gold for me.
  • CY
    C Y.
    6 April 2016 @ 20:21
    *Insert graphic of mind being blown. Awesome interview
  • RA
    Robert A.
    6 April 2016 @ 00:55
    Who knew? You go Down Under to get Above the fray thinking! Oh, and for all the head/neck observers---that's how a turtle holds the head when going back into the shell. Top 5% of all RV so far, IMO.
  • RF
    Richard F.
    6 April 2016 @ 00:38
    so where do we hold cash that does not get bailed in?
  • PS
    Patrick S.
    5 April 2016 @ 19:26
    Loved it! Should definitely have him back on in the future
  • BB
    Brian B.
    5 April 2016 @ 12:55
    Super discussion. Mortgages (death grip) at 8x salary is insane- see Ireland in 2000s. Short Australian banks e.g. CBA and ETF providers e.g. BLK when timing is right!
  • CB
    Cliff B.
    5 April 2016 @ 12:30
    Very cerebral
  • SD
    Stephen D. | Contributor
    5 April 2016 @ 08:45
    The Australian Financial Review has a great piece on the Jontathan Tepper report. It's called "Man behind big Aussie short, Jonathan Tepper, labels critics 'brain dead'
  • KB
    Kieran B.
    5 April 2016 @ 07:57
    As an Australian I loved the discussion about the Aussie housing/banking sector.
  • KK
    Kathleen K.
    5 April 2016 @ 04:23
    Great interview, Grant, shame on you...tell the poor bloke to hold his head up straight! Big Short part Deux! For this founding subscriber, central bank hubris is no longer a surprise.
  • TS
    Thomas S.
    5 April 2016 @ 03:41
    Central Bankers have too much hubris to watch this.
  • EK
    Emil K.
    5 April 2016 @ 01:58
    This kind of interview has me wondering what central bank employees think when they watch this. Would love to know how many - if any - subscribers there are at the FED/ECB/BOJ. Worried it's < 10.
  • JS
    John S.
    5 April 2016 @ 00:28
    Another enthralling discussion with so much to think about.
  • RP
    Ron P.
    4 April 2016 @ 23:31
    The conclusion is cash is king Gold is the Queen Utilities is the Prince Wait for the crisis then hold your Gold and deploy your cash RealVision has given me more clarity and confidence
  • JG
    Joseph G.
    4 April 2016 @ 21:45
    Very intelligent interview. Makes RealVIsion TV my favorite viewing.
  • EL
    Elizabeth L.
    4 April 2016 @ 21:44
    I found a great deal of value and insight in Michael's analysis. Would like to see him as a regular.
  • DH
    Dale H.
    4 April 2016 @ 20:37
    RV you are getting near - NZ I mean - Come visit. Grt to hear an Aussie. re housing/banks. Need to digest the rest again, heady stuff. I invest in Aust, so waiting for Sydney interview.. Gold miners?
  • SB
    Stephen B.
    4 April 2016 @ 18:49
    Uncited quote in the beginning is from Tolstoy, Anna Karenina
  • PH
    Philip H.
    4 April 2016 @ 18:46
    Ernest Hemingway not Mark Twain.... Just saying. Otherwise very good, the lucky country running out.
  • SS
    Sam S.
    4 April 2016 @ 18:31
    Well spoken, wife loved his hair, fixed the crook in his neck and presented answers to Grants excellent questions important to all. Thx Mate!
  • LA
    Linda A.
    4 April 2016 @ 17:18
    Excellent! Another housing crisis that will affect banks who hold the mortgages. Sell ETF's & mutual funds: lack of liquidity. Trade by the Twain quote. All losses start out small then grows quickly
  • ps
    phil s.
    4 April 2016 @ 17:05
    Some breaks in the sound. Overall very good.
  • DB
    David B.
    4 April 2016 @ 16:15
    Great AU perspective!
  • TF
    Tim F.
    4 April 2016 @ 15:50
    Have him back!