Jim Litinsky

Published on
December 6th, 2019
Duration
56 minutes

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41

Jim Litinsky

The Jim Grant Series ·
Featuring James Litinsky

Published on: December 6th, 2019 • Duration: 56 minutes

Jim Litinsky, founder and CEO of JHL Capital Group, joins Jim Grant to discuss how his value-based investment process has led him to increasingly creative corners of the financial markets. Litinsky and Grant examine the state of the financial world in the context of extreme monetary policy and geopolitical turbulence. Litinsky outlines his outlook for markets and details the turn of events that led his firm to own the only environmentally-friendly rare earth metals producer in the world. Filmed on November 6, 2019 in New York.

Comments

Transcript

  • WM
    Will M.
    19 January 2020 @ 18:12
    1 0
    Jim Litinsky comes across as a sharp and very personable guy. I like the rare earth metals approach. Wish I could by in!
  • PG
    P G.
    6 December 2019 @ 17:10
    3 1
    I have a question that is bothering me for a while. There is this outstanding statement that if the fed and CB are cutting rates now they won’t have any munition when they will need it in the next down cycle. So I’m wondering as to why would we need the next down-cycle can’t we just start the solution before the problem?
    • FC
      Flavian C.
      6 December 2019 @ 19:30
      7 0
      This is like saying, how can we have only day not followed by night. Unattainable. This is just nature's way of working. You have life and death, day and night, bull market and bear market. The central banks are led by bureaucrats who don't have a P/L and don't live in the real world. They are IYI (intellectual yet idiot). They don't get that the more you suppress variance and volatility the more brutal and sharp the next down move will be.
    • JC
      Jack C.
      7 December 2019 @ 11:02
      1 0
      To some extent, that is what the Fed has done by keeping rates so low for so long after 2008 emergency measures. There are negative consequences with unnecessarily low interest rates, as it further inflates asset bubbles and damages financial system such as pension funds and insurance companies that are required to generate positive returns on their assets.
    • VR
      Vladimir R.
      7 December 2019 @ 12:53
      3 2
      There is no such thing as “out of ammo” in the QE world. The notion of ammo originated in the pre-QE era. The fed has plenty of “ammo”. They can change the definitions they use of inflation, unemployment, price stability. They can achieve any goal the want.
    • WM
      Will M.
      19 January 2020 @ 17:36
      0 0
      The only real issue is "confidence".... The FED has loads of ammo with QE for sure, but some day soon we will reach the point of recognition, then it will all be over....
  • FG
    Flavio G.
    20 December 2019 @ 15:35
    1 0
    Great call https://www.reuters.com/article/us-usa-rareearths-magnets-exclusive/exclusive-pentagon-to-stockpile-rare-earth-magnets-for-missiles-fighter-jets-idUSKBN1YO0G7
  • WB
    William B.
    20 December 2019 @ 03:44
    6 0
    Lots of comments about Jim Grant "interrupting". To me, Jim is the main event. I recommend changing the name of the series to "The Jim Grant Conversations". Then people would realize that Jim is entitled to make his invaluable contributions to the conversations.
  • Sv
    Sid v.
    13 December 2019 @ 23:27
    3 1
    this is a very smart conversation.
    • MB
      Michael B.
      15 December 2019 @ 18:41
      1 0
      Agree... Bigly!
  • KD
    Kenny D.
    9 December 2019 @ 21:43
    9 0
    I keep losing focus on the main topic since Jim Grant can't seem to stop interrupting his guests.
    • TM
      The-First-James M.
      14 December 2019 @ 01:14
      1 0
      I have a shit ton of respect for Jim Grant, and always enjoy listening to him. However, I have to at keast partially agree with you here. He noticeably cut in on Joel and derailed his train of thought at least 3 times during this interview. I found it an irritation more than an annoyance, but tsked on one of the occasions.
  • GG
    Gary G.
    10 December 2019 @ 07:37
    9 0
    Another great interview by Jim but he has a bad habit of interrupting guests in the middle. Let them finish first for god sake. It’s rude!!
  • DS
    Dimas S.
    7 December 2019 @ 12:08
    39 12
    Jim Grant, please stop interrupting the guest. ask questions and listen! You are destroying the guest´s full point of view. If you have follow-up questions, write it down first then ask! You are not the guest, you are the host!
    • WB
      William B.
      9 December 2019 @ 03:10
      6 1
      Jim Grant is the reason that I watch the videos. Jim Grant has the status.
    • AV
      Anne V.
      9 December 2019 @ 21:36
      1 0
      jim Grant, please look after your health 1st .
  • TS
    Theodoros S.
    6 December 2019 @ 19:57
    1 2
    It is highly probable that bonds would under perform the next 10 years. However the mindset that as a hedge fund manager it is not mandatory to hold bonds so do not hold I think is wrong. There should be positions in bonds both corporate and sovereign in the mindset of a diversified portfolio. Moreover no one knows if inflation would come back or negative rates will become more negative and most important when that will happen.
    • JB
      John B.
      6 December 2019 @ 23:38
      7 0
      Different funds have different objectives and purposes. The obsession with modern portfolio theory has led to a world where the best managers often cannot take the concentrated risks, even in areas they understand best. If the manager is right and makes huge SP beating returns, he will chase capital away from his fund. Why? Because the modern portfolio theory measurements will say that the manager wasn't successful based on skill but based on luck + high volatility. Only in finance do we say with a straight face that an owner should be involved in businesses he doesn’t understand. Nobody would say an auto-parts store should have to carry wedding dresses and LEGOs because owner should be diversified. The store (asset) shouldn't be diversified, it should be highly concentrated in the business the manager knows best. The owner of the store should be diversified buy owning other businesses than the auto parts store. Nobody gets rich by owning assets they don't understand and don't believe are valuable just for diversification purposes. If someone wants to own bonds, then find the new Jim Gross. I’m sure he’s out there somewhere, making great returns at a small fund that won’t grow because he/she is “over concentrated”.
    • RM
      Robert M.
      9 December 2019 @ 17:04
      2 0
      Have to agree with John on this one. It is also Buffett's mantra that he looks for good businesses, makes concentrated bets, and holds winners for a long time vs rebalancing. Many of his successful traits go against modern portfolio theory.
  • JH
    Jesse H.
    8 December 2019 @ 18:05
    17 2
    Great stuff - superb guest in Jim Litinsky, really liked him and fascinated by his work. Jim Grant is generally a very good interviewer, but he seems to interrupt people a fair amount, and I’m not sure why exactly. This was the only thing in my mind that detracted from the quality here. That said, Jim has a huge wealth of knowledge, intelligence and wit, and I always appreciate his perspective on things. But worth holding key questions in mind or writing down while interviewer speaks. Several times Jim Litinsky had to keep interrupting Jim Grant to finish a sentence.
    • JH
      Jesse H.
      8 December 2019 @ 18:06
      1 0
      Interviewee*
    • GW
      Geoff W.
      9 December 2019 @ 07:59
      4 0
      Jim is class, witty and perceptive
    • RM
      Robert M.
      9 December 2019 @ 16:56
      11 1
      As a subscriber to his newsletter, Jim is great, but he does interrupt a lot. It does impede the flow of the conversation.
  • CS
    C S.
    9 December 2019 @ 08:30
    0 0
    Was surprised to see Shenghe Resources Holding Co. as a minority shareholder in Mountain Pass. They dont have enough rare earths in China without holding a stake in the US's only operating rare earth mine?
    • MR
      Mitchell R.
      9 December 2019 @ 15:57
      1 0
      Solid State Batteries are the future...https://en.wikipedia.org/wiki/Solid-state_battery
  • JW
    James W.
    9 December 2019 @ 04:08
    0 0
    "Plastics".
  • DS
    Dan S.
    7 December 2019 @ 19:50
    5 1
    Problem won't be fixed until the US Congress is reformed. Its essentially a Congressional Finance-Scheme like the car manufacturing companies run, but in this case the Congressional Product is grooming voter groups with "free" handouts.
  • bb
    buck b.
    7 December 2019 @ 02:46
    8 0
    I wish Mr. Grant would have asked about the rare earth ETF REMX. Would it be copper or rare earths as the best play for the coming electrification economy? Fascinating discussion, but I needed more on how to monetize this theme safely & efficiently with my precious capital. As always, a well done Grant interview on RV.
  • df
    diamantino f.
    6 December 2019 @ 16:00
    2 1
    Well done RVTV and Jim, thanks
  • PU
    Peter U.
    6 December 2019 @ 12:45
    15 5
    I wish RV had a policy whereby a thumb down required some comment as to why the viewer believed it deserved a thumb down. Makes me wonder if I am missing something or am I just drinking the kool aid. I thought the discussion was excellent.
    • KC
      Kenneth C.
      6 December 2019 @ 14:26
      6 2
      glad I saw your comment. I must have bumped the down thumb by accident.
  • SS
    Shanthi S.
    6 December 2019 @ 07:08
    13 0
    Great discussion 👍 Love Jim!
  • MR
    Mahesh R.
    6 December 2019 @ 05:39
    3 11
    First !!!