Alain Van Loo

Published on
November 22nd, 2019
49 minutes

Alain Van Loo

The Jim Grant Series ·
Featuring Alain Van Loo

Published on: November 22nd, 2019 • Duration: 49 minutes

Alain Van Loo, Chief Investment Officer at The Sharp Financial Group, joins Jim Grant to discuss the state of the US financial system and global capital markets. Van Loo and Grant unpack some of the crucial but frequently misunderstood underlying plumbing of the US financial system, with a focus on the money markets and the Fed's repo operations, before widening the lens to talk about investment opportunities in developed and emerging markets. Filmed on November 7th in New York.



  • XF
    Xavier F.
    30 November 2019 @ 03:35
    Jim is one of my favorites, always get me thinking.
  • PK
    Paul K.
    29 November 2019 @ 01:56
    Is it not, using models in a time of central bank market manipulation aka qe, a bad idea?
  • WB
    William B.
    28 November 2019 @ 03:27
    Listening to Jim Grant reminds me of medical school and my radiology residency. If I pay attention, I might just get a basic picture of what's going on.
  • BC
    Brian C.
    25 November 2019 @ 21:58
    I have been following Grant since the '80's when he was a gold bug. He's gotten MUCH SMARTER since then. Excellent interview, on-point questions! (humor: no extra charge)
  • AK
    Ado K.
    25 November 2019 @ 14:36
    Jim is great, I think he always gets the best out of guests.
  • PD
    Peter D.
    25 November 2019 @ 13:10
    Good chemistry between two very different guys. Alain was insightful and patient with Jim, whose ramblings suggest an idea. Perhaps it is time to get Jim back in the interviewee's (as opposed to interviewer) chair. Possibly about lessons from his Bagehot book. RV ought to get Ed Harrison on the case.
  • Nv
    Nick v.
    22 November 2019 @ 13:43
    The world is long US financial assets and thus the Dollar. This is the largest consensus position on planet earth. The US is 24% of world GDP US equities = 56% of All World equities ($48 trillion universe) US Treasuries = 39% of Barclays Global Aggregate Bond index ($50 trillion universe) Thus, the world is very, very long US equities and bonds and thus the USD
    • PD
      Peter D.
      25 November 2019 @ 13:02
      It's worse than that. US GDP may be as low as 18% (need to check this) in PPP terms.
  • wj
    wiktor j.
    25 November 2019 @ 10:42
    great interview. Had to see it a few times to catch all the points! Could help with more charts.
  • we
    wayne e.
    22 November 2019 @ 20:52
    Remember the first Jim Grant interviews being enjoyable...these last few less so...he sure does love to hear his own voice...not something new necessarily :-) but more so in these last couple of interviews...Where is Grant Williams???!!!???
    • PG
      P G.
      24 November 2019 @ 01:20
      Where is grant????
    • ls
      lucas s.
      24 November 2019 @ 13:09
      Agree, this wasn't an interview, it was Jims making a statement, and then saying 'no?' at the end to turn it into a question. The interviewer should let his guest be the focus. Asking tough questions is fine, but let your guest reply. Not only that, when asked 'where should interest rates be?' Jim says 4% and 5% in 30y? and that this is more 'normal'... that's called dogma, no justification for his number, just plain dogma, something he says he rejects?!
    • PC
      Peter C.
      24 November 2019 @ 23:07
      Grant Williams interview Jim Rogers... and Felix Zulauf... missing the good old days.
  • DN
    Dave N.
    24 November 2019 @ 22:05
  • JS
    Juan S.
    24 November 2019 @ 12:23
    What’s the point of interviewing someone if you don’t let them speak
  • DB
    Dheeraj B.
    23 November 2019 @ 17:10
    Felt like Jim was really testing Alain - from his models to his views. Well received and well answered.
  • RM
    Russell M.
    23 November 2019 @ 15:37
    A nice explanation of the Repo market and its implications. Very timely.
  • AR
    Abishek R.
    23 November 2019 @ 07:23
    For me this the greatest Real Vision piece if not one of the all time greatest pieces of financial media. Jim Grant's monologues were just incredibly brilliant. Every 5min section of this piece was just revelation after revelation. For e.g. Having been the first person (there are many claimants, but Jim Grant is THE person) to call the sub-prime crises most concisely at least, his easy-to-miss 20 second observation that the September Repo madness might be a symptom of the size of U.S treasury issuance, and hence just maybe the world has hit a back-stop on credit creation is just pure genius and a seminal event in modern finance, if proven true. His diatribe against the Quantitative approach is again brilliant, armed with Grant’s arsenal of financial data going back 2000 years, was just savage and simply couldn’t be defended. Full credit to Alain Van Loo for staying humble (no choice with Jim Grant) and taking on the questioning sportingly. Keep in mind if Jim Grant were to question God on finance, even God would stumble in his response. Thank you Real Vision. Jim Grant = Legend.
  • TT
    Tungsheng T.
    23 November 2019 @ 04:05
    too vague...
  • SS
    Shanthi S.
    22 November 2019 @ 21:05
    “Speaking of imperfection...” 😂😂😂 Jim could make an interview with Theresa May fun!!! Brilliant!!
  • CB
    Connor B.
    22 November 2019 @ 20:26
    Jim Grant summons great answers with brilliantly phrased questions. Never gets old.
  • SR
    Sami R.
    22 November 2019 @ 19:34
    Bonjour Alain, You did a great job articulating US rates market and Fed mechanisms in not too many words. I particularly liked and agreed with your "Japanification" of the US yield curve observation.
  • DS
    David S.
    22 November 2019 @ 19:30
    The CBs around the world are the major cause of irrational low to negative interest rates by letting the massive QE genie out of the bottle. There are vast sums of money around the world seeking capital preservation with little risk. There are other problems too, but the massive QE is the driver. The CBs admit that they can no longer control the economy and fiscal spending will have to take over. This should have been done a long time ago. At least we have better bridges and more normal interest rates around the world as money would have gone into the real economy. DLS
  • TZ
    Tibor Z.
    22 November 2019 @ 18:18
    Well, everybody knows that the real inflation is not 1,67 something... It's much higher than than. Especially if you consider into account the inflated real estate prices!
  • CB
    Clifford B.
    22 November 2019 @ 11:41
    Great interview. Billion dollar question., where do you look for growth in an overbought overextended market? Emerging markets is where it's at. As these countries increase their trade in their own currencies and gradually decouple from USD they will bloom and the developed markets will suffer.