Interview with Michael Schneider

Featuring Michael Schneider

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.

Published on
4 April, 2016
Duration
52 minutes
Rating
12

Comments

  • NT

    Norman T.

    11 7 2016 21:08

    1       1

    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.

  • AC

    Andrew C.

    27 4 2016 05:57

    0       0

    "more sellers than buyers". US stocks are the most under-owned going back to '99. Who will be sellers? http://www.gallup.com/poll/190883/half-americans-own-stocks-matching-record-low.aspx

  • AC

    Andrew C.

    27 4 2016 04:49

    2       0

    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 4 2016 06:34

    2       0

    So Great to see some Aussies talking about our economy. Cant wait for Gerard Minack too.

  • SB

    Stewart B.

    11 4 2016 21:01

    3       0

    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 4 2016 20:58

    4       0

    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 4 2016 03:56

    2       0

    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 4 2016 19:27

    1       0

    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 4 2016 09:34

    3       0

    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 4 2016 18:18

    5       0

    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 4 2016 15:00

    5       0

    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 4 2016 05:12

    3       0

    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 4 2016 12:40

    2       0

    Interesting local perspective. As suggestion: Would be good to hear more Germans, Dutch, Spanish, Chinese, Japan about their local economies

  • AD

    Anthony D.

    7 4 2016 03:32

    3       0

    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 4 2016 02:05

    0       0

    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 4 2016 20:21

    1       0

    *Insert graphic of mind being blown. Awesome interview

  • RA

    Robert A.

    6 4 2016 00:55

    6       0

    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 4 2016 00:38

    4       0

    so where do we hold cash that does not get bailed in?

  • PS

    Patrick S.

    5 4 2016 19:26

    4       0

    Loved it! Should definitely have him back on in the future

  • BB

    Brian B.

    5 4 2016 12:55

    5       0

    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 4 2016 12:30

    0       0

    Very cerebral

  • SD

    Stephen D.

    5 4 2016 08:45

    3       0

    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 4 2016 07:57

    8       0

    As an Australian I loved the discussion about the Aussie housing/banking sector.

  • KK

    Kathleen K.

    5 4 2016 04:23

    0       1

    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 4 2016 03:41

    1       0

    Central Bankers have too much hubris to watch this.

  • EK

    Emil K.

    5 4 2016 01:58

    3       0

    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 4 2016 00:28

    9       0

    Another enthralling discussion with so much to think about.

  • RP

    Ron P.

    4 4 2016 23:31

    12       0

    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 4 2016 21:45

    11       0

    Very intelligent interview. Makes RealVIsion TV my favorite viewing.

  • EL

    Elizabeth L.

    4 4 2016 21:44

    15       1

    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 4 2016 20:37

    3       0

    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?

  • BE

    Baha E.

    4 4 2016 18:58

    12       1

    I had to tilt my head watching

  • SB

    Stephen B.

    4 4 2016 18:49

    3       0

    Uncited quote in the beginning is from Tolstoy, Anna Karenina

  • PH

    Philip H.

    4 4 2016 18:46

    2       1

    Ernest Hemingway not Mark Twain....
    Just saying. Otherwise very good, the lucky country running out.

  • SS

    Sam S.

    4 4 2016 18:31

    3       0

    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 4 2016 17:18

    5       0

    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 4 2016 17:05

    0       0

    Some breaks in the sound. Overall very good.

  • DB

    David B.

    4 4 2016 16:15

    4       0

    Great AU perspective!

  • TF

    Tim F.

    4 4 2016 15:50

    57       0

    Have him back!