Comments
-
SHWho mics these people? I could barely understand what either of them were saying. Sheesh, I wanted to learn, but these two were unintelligible.
-
VSSince im one of the people in the "New "Market Wizards and also traded for Soros successfully ... i want to comment on the world now being Centrally Planned and it will be different from your experiance.
-
CYI like his awareness around how his experiences shape him. He's young but not naive which often happens. I think this will set him up for success. In other words KNOW THYSELF (and thy limitations).
-
RAGreat interview and a nice filip to Michael Green's interview on the mandatory tax deferred distributions @ 70 1/2. The three potential thesis busters discussion was quite useful. If you told me that I'd consider putting money with a 28 year old prior to my watching his RV segment I think not. I thought so much of him however that I did inquire about putting money with him and although he doesn't yet have a platform in the US I will follow his progress closely. Anyone concerned about the younger generation should watch his interview, IMO.
-
JKThanks for the book mentions, it is always nice to come away with some additional resources or materials to explore.
-
JLGood stuff. Sam: I am assuming you got stopped out of ur $ long position. Are you currently on the sidelines and looking to get back in lower? What levels are u watching? Thanks
-
PSgreat "travels with jiwad" as always... :)
-
VKGreat interview. Enjoyed the insights provided, and wanted to ask you a question about your investment strategy that I had: Usually, as macro themes take a longer term time frame to materialise, how to balance that, with your shorter term trading, with tight time stop losses?
-
GAGreat interview. Want to see him once more sometime in the future. Thank you RV.
-
MLA question for Sam and Jawad, or any one who can answer: how does the act of shifting profit from corporates to labor mechanically increases productivity? Intuitively, if labor cost go up per unit of output, shouldn't unit productivity go down? or am I confusing different things?
-
TJFascinating listening to two young gurus discuss investment markets. Very interesting to heart the thoughts on the UK real estate market which is all too rarely cited as being massively over valued! Not sure about UK interest rates heading higher in these deflationary times, but if they do the housing market will be in serious trouble!
-
EMReally good!
-
tWCan you briefly explain the frenchelection/strong dollar connection?
-
GSCentral banks might not be making the headlines anymore, but are still buying at an all time high pace of $250 billion a month. And that is without any major "hiccup" on the road as of now. So I personally fail to see, how central banks are becoming irrelevant. (Also not sure how "foreigners" are accounted for, but there is probably lots of CB buying hiding behind that number too. c.f. SNB.) This is for example how the BOJ is doing it: http://www.zerohedge.com/news/2017-05-05/bank-japan-bought-dip-over-half-time-last-4-years and more generally from the WSJ http://www.zerohedge.com/news/2017-01-23/80-central-banks-plan-buy-more-stocks Finally, I am increasingly septic about Trump being able to achieve anything. I highly recommend the in depth interview of Trump by the Economist: http://www.economist.com/Trumptranscript?fsrc=scn/fb/te/bl/ed/transcriptinterviewwithdonaldtrump the lack of a rational and clear thought process is in my opinion beyond scary.
-
GGOne thing that reallly bothers me and, IMO, completely undermines the credibility of people like this is the blind and naive acceptance of government reports. In this case the belief in the government reports of a labour market that is almost fully utilized is absurd. First of all, if the labour market is as good as reported why is there so much dissatisfaction? This is a relatively obvious hint that things are not as they seem and would suggest that actually delving into the jobs report numbers might be prudent. Looking below the surface of these reports paints a far different picture than the rosy one that the government would have us believe. The quality of jobs is deteriorating, the number of part time jobs is increasing, and there are a disproportionate number of people leaving the labour market. All of these facts point to fact that this is nothing more than the same type of misleading statistical "engineering" alluded to in a previous RV epidode on "Creative Accounting". The fact that "smart" people don't have the good sense to even question the garbage we are being fed is disturbing and the fact that this is someone RV thinks is worth listening to is also equally distrurbing. So what if this guy has pulled off 20% returns in over the last 5 years in a market that has been so distorted by CB's that it can't really even be called capitalism any more. In the lead up to the 2000 dot com crash most every bonehead money manager was also pulling off massive returns ... that didn't make them geniuses or make them worth listening to.
-
GGPs. Gruen doesn't even seem to comprehend (or question) the danger of a Trump administration that plans to increase spending without regard for an increasing debt that is already beyond insane. To him it's just a continuation of the shell game he has grown up with and which today's young idiots appear to believe is normal and sustainable. Guess what...Mr. Gruen, debt means something... it means something to a household, it means something to a business, it means something to a corporation and it means something to a country. WAKE UP!!!!
-
JOGreat interviewee... But would have loved to see him opposite Grant or Michael Greene. Sadly, I don't think this interviewer allowed us to fully benefit from his insights.
-
DSThanks for the endorsement on The Alchemy of Finance. I enjoyed The Soros Lectures. As a retired baby boomer, I see another possibility for the current rise in the market. Many baby boomers are still working and see that they do not have enough in retirement accounts. They are saving as much as possible in all possible accounts. Couple this with the current love of low cost ETFs and one can see that this could be a major driver in the stock market rise at very high P/E ratios. This certainly could offset required withdrawals plus add fuel to the fire. When the market changes, these investments can cause a lot of liquidity and volatility problems. DLS
-
AHSuper, very smart!
-
SCdefine productivity? Massive companies with the dawn of the financialization and securitization (driven by debt) There is a complete disconnect between the productivity of a company and the company's labor force. A company can essentially improve the value of their capital by financialization including tinkering with the balance sheet aided by super low rates. At this point, the company doesn't need technology or labor. In this scenario efficient capital, productive labor or technology is but a footnote
-
lDThat was actually one of my favourite interviews i hope this bloke comes back
-
DJExcellent presentation - great insight!