John Burbank – Think Piece

Featuring John Burbank

In the first of this two-part Think Piece, Founder and CIO of Passport Capital John Burbank gives us his insight into the scarcity of liquidity in today’s markets, the echoing influence of the U.S. dollar across a range of markets, and how price can lie about the macro events moving just under the surface.

Published on
22 September, 2015
Topic
Liquidity, Investment Framework, Monetary policy
Duration
20 minutes
Asset class
Bonds/Rates/Credit, Commodities
Rating
13

Comments

  • RD

    Roland D.

    29 12 2016 12:41

    1       0

    "Because people default to price to tell them what is happening in the world, and it takes a lot of price change to get your mentality to change, we are just at the beginning of a mentality change" - wow, listening to this made so much sense as to price action in terms of booms and busts. Profound!

  • NV

    Nathaniel V.

    13 5 2016 19:13

    0       0

    How does lower dollar tighten liquidity? does it not allow for more borrowing which in turn increases liquidity?

  • LA

    Linda A.

    3 5 2016 15:06

    0       0

    Feds & banks in collusion- they are playing the mkts. Feds blew up their b/s for their sake & keeps rate artificially low. Even with bad earnings & news the mkts bounce right back. Mkt forces to win

  • DR

    Deep R.

    18 4 2016 08:44

    0       0

    when could we see part 2?

  • DR

    Deep R.

    18 4 2016 08:43

    0       0

    cant wait for part 2

  • A

    Aaron .

    9 1 2016 01:50

    2       0

    This piece really impacted me and I think we are seeing it play out before our eyes.

  • LA

    Linda A.

    28 11 2015 22:03

    1       0

    Chilling. More pain to come. John Burbank's analysis is so thoughtfully portrayed.

  • MR

    MIGUEL R.

    27 9 2015 22:58

    6       0

    i think it would be really fascinating to have someone like John B. recount the process that lead to a very profitable trade... what was his thinking and the mechanics of it... a postmortem

  • HS

    Hubert S.

    27 9 2015 15:48

    2       0

    Did he misspeak or do I understand incorrectly: Around (17:35).
    "Dodd-Frank tightened liquidity, lower ??? dollar tightened liquidity, providing credit on property ?? has tightened liquidity …. "

  • LS

    Lorenz S.

    24 9 2015 17:52

    1       0

    Another stunning interview with the best! Thanks for providing all this invaluable knowledge. Life saving!

  • RF

    Richard F.

    24 9 2015 13:03

    6       0

    I now it is hard work to bring this content to us. Please provide part 2 as soon as it is ready. Thanks for all the hard work in bringing RVTV to us.

  • MR

    MIGUEL R.

    24 9 2015 06:03

    2       0

    hugely impressive, he cuts through all the fog and creates order out of chaos!

  • MR

    MIGUEL R.

    24 9 2015 05:59

    9       0

    an incredibly deep thinker that connects the right dots... i'm eagerly awaiting part 2. splitting an interview this short into two is SILLY and not in keeping with the RV ethos in my humble opinion.

  • sa

    santosh a.

    24 9 2015 05:16

    3       0

    Yes, there's no doubt that the Fed will launch QE4 when the stock market tumbles. But when & how will this rinse cycle end? At some point investors must believe that this is sheer lunacy.

  • DM

    Daniel M.

    23 9 2015 21:57

    6       0

    But yes. Even if you guys are waiting on some other interviews and its tough to find gems every week. Let this play thru please. Unnecessary chop.

  • DM

    Daniel M.

    23 9 2015 21:56

    4       0

    Mean no disrespect to DON above but how is burbank a fiat Keynesian?. He said Qe3-mistake. Fed missed hike window (2013) and have created a dangerous situation by driving assets up.

  • db

    don b.

    23 9 2015 16:31

    2       10

    I see everybody likes this interview which is the 1st thing to give me pause. But with all due respect this is a Fed Centric, Keynesian Fiat Forever view of the world. I hope it works out but doubt it

  • BJ

    Brent J.

    23 9 2015 15:10

    3       0

    great interview. regarding rate hike cycle, rates can go up for 2 reasons. 1) the Fed raises them 2) the MARKET raises them. And if the market does it, it prob wont be a long rate hike cycle...

  • A

    Aaron .

    23 9 2015 00:38

    4       0

    John-I wish we could see it all now too, but understand and appreciate the theater effect RV is creating. I would expect RV is setting to ramp up their entire show this winter.

  • SJ

    Suzanne J.

    22 9 2015 23:25

    3       0

    We are certainly receiving value for money! Thank you, John for your insightful commentary. Hanging out for Part 2!

  • JS

    John S.

    22 9 2015 22:51

    23       1

    Is it really necessary to split short interviews into two parts? Would be much better to receive it as a single play.

  • RA

    Robert A.

    22 9 2015 22:33

    8       0

    Front Row for the EM meltdown and the US simultaneous melt up gives John a perspective that VERY few could have---Ignore him at your own peril. Thanks again Grant and Raoul.

  • KO

    Kasparas O.

    22 9 2015 22:09

    40       0

    You guys are uploading the second part right now right? You're not actually going to make us wait... right?

  • PS

    Patrick S.

    22 9 2015 21:28

    3       0

    The upcoming equity crush will create the buying storm. Thanks John. Succinct and clear.

  • AG

    Alexander G.

    22 9 2015 20:27

    3       0

    Very good point about the lack of willingness to take losses from HF investors. Looks like we are going to see VIX >100.

  • BH

    Blair H.

    22 9 2015 19:43

    0       0

    are you guys going to take legal action against CNBC?

  • CH

    Calvin H.

    22 9 2015 18:30

    4       0

    Interesting and Looking forward to Part 2. It will be refreshing to hear some positive views on where the market will be down the road.

  • RG

    Richard G.

    22 9 2015 18:19

    4       0

    That was awesome. When should we expect part 2?

  • TJ

    Todd J.

    22 9 2015 17:48

    6       0

    David Copper-Fed. Brilliant.

  • CH

    Colin H.

    22 9 2015 17:23

    10       0

    What an interesting man. He's created his own way of thinking about the world.

  • dm

    dan m.

    22 9 2015 16:56

    6       0

    Thank you John

  • A

    Aaron .

    22 9 2015 16:50

    12       0

    Thank you for letting John articulate his thoughts to us subscribers. I hung on every word. Nice preview, can't wait!