The “Bad Bank” of Brighthouse

Featuring Jeremy Shoykhet

Jeremy Shoykhet of the Active Owners Fund is sounding the alarm bell on Brighthouse Financial’s business model. In this interview with Brian Price, Jeremy makes the case that the MetLife spinoff is made up of potentially troubling assets. He also explains why a short position on Brighthouse could make a highly attractive hedge for a broad portfolio. Filmed on July 16, 2018.

Published on
18 July, 2018
Portfolio Management, Micro, Trading
11 minutes
Asset class


  • RN

    Richard N.

    8 10 2016 11:16

    1       1

    I'm the only thumbs down on this windbag whose startling "fresh perspective" seems to have baffled a full 456 of you.

    But there's nothing startling in the Wise Simon's hysterical globaloney; indeed its rather hackneyed.

    There's always been a market in the West for some Enlightened sage that can point to a presumably Rational "Other" somewhere out in the East to shame and denounce the arrogance, perfidy and greed of Altar and Throne in superstitious Christian West, otherwise known these days as "America".

    Like Simon, Voltaire loved China as a shining example of a secular despotism run by an educated ethical elite, the Chinese Mandarins, so obviously superior to the hypocrisy and corruption of the decadent Catholic Church (read, America for today's reference); while for Protestants, it was the Ottomans, or all people, that provided the uplifting Asian moral exemplar.

    And John-Erik has it exactly right!

    Anyone that refers to the Chinese currency as the "Won" knows no more about China and its language than Voltaire did. Voltaire at least had a sense of humor, and can be forgiven much.

    But the insufferably ponderous and self-important Sage Simon, could at least be expected to pronounce the currency correctly before telling us that the civilized West's gloomy destiny hinges on control of the central Eurasian wastelands that gave us Attila the Hun, Genghis Khan and Tamerlane.

    But who cares? WE in the post-Christian West still love to confess our sins hate ourselves (aka, "America") for them.

    But we don't get to church enough these days so good for you Grant! You brought the clergyman and his collapsible China confessional to us. I too just hate America and just gnaws away at me inside with everything the way it is these days.

    But after hearing the goodly Father Simon intone his startling fresh perspective with such severitas and gravitatas , I feel so much better. Ha Ha

  • RM

    Ryan M.

    12 8 2015 05:06

    2       0

    Starting to play out exactly as predicted

  • A

    Aaron .

    10 8 2015 21:20

    1       0

    Interesting perspective or theory on China getting out ahead of the next crisis.

  • CT

    Claudia T.

    11 4 2015 20:38

    1       0

    Excellent interview! Had to watch it twice!

  • CM

    Corentin M.

    11 4 2015 20:36

    0       0

    Great insight! Exactly what confirms my views on the mining sector

  • JS

    John S.

    30 3 2015 13:14

    0       0

    Wow. Definitely a different perspective. Think I will have to watch it again.

  • JH

    John-Erik H.

    29 3 2015 12:16

    1       0

    Great interview. But why does Simon constantly refers to the "Won", when he means the "Yuan".
    Rock on, Grant!

  • SJ

    Shawna J.

    24 3 2015 19:05

    0       0

    Gold backed currencies will not preclude corruption. The Corbett Report's missives on China (and other subjects) are much more insightful as to what's really going one IMO. Check it out.

  • AL

    Alex L.

    23 3 2015 22:24

    2       0

    You would never hear this in mainstream US media, an honest and critical look at the world and the effects of America's failing foreign policy. Well done!

  • IK

    Ian K.

    23 3 2015 17:14

    0       0

    GW: "The amount of pain that this [bursting of credit bubble] would cause is unprecedented."
    At this point I expected to hear a reminder about the Great Leap Forward. Great interview.

  • FL

    Frank L.

    23 3 2015 04:24

    1       0

    Makes complete sense to me- just a question of when! Great interview. Frank

  • AL

    Alex L.

    23 3 2015 02:16

    3       0

    Wow! Let's have more interviews with Simon Hunt. Excellent piece RVTV!

  • KS

    Kashyap S.

    22 3 2015 06:40

    2       7

    Very drawn-out interview, reading the transcript would have been faster! I find nothing original here to merit the glowing comments I see above. Makes me wonder if viewers just have a "China fetish".

  • LH

    Larry H.

    22 3 2015 02:44

    4       0

    Incredibly insightful interview. Have him back soon. As someone said this alone is worth the price of the service for a year. Thanks .

  • MC

    Michael C.

    21 3 2015 12:34

    4       0

    If Saudi Arabia trade oil in anything other than US dollars, don't they risk losing the protection of the US military. That seems quite a massive step for them to take.

  • KF

    Kalen F.

    21 3 2015 02:20

    1       0

    Fascinating stuff

  • PW

    Phil W.

    20 3 2015 17:03

    0       0

    part 2: The IMF is US centric. If China, or Russia/India, is not satisfied with the outcome with the IMF decision, it may start to unravel.
    That's it!........Thanks

  • PW

    Phil W.

    20 3 2015 16:49

    0       0

    After pondering Mr Hunts interview, I think I have a catalyst that may cause this reset. As you all know, the IMF is in the midst of a five year review , of to whom is going to sit at the table.

  • TJ

    Terry J.

    20 3 2015 15:52

    2       0

    Simply brilliant. As always such an educational pleasure listening to Simon's views and insights.

  • BL

    Bruce L.

    19 3 2015 21:48

    2       0

    Hunt was terrific. Current US leadership are buffoons and the repeated use of $ as an economic "weapon" is only hastening its demise as world reserve.

  • GR

    Gregory R.

    19 3 2015 18:19

    1       0

    Hunt’s premise is credible. By taking the initiative China has the potential for more control of uncertain outcomes. Fortune favors the bold. The can-kinking west will be left reeling.

  • MB

    Mark B.

    18 3 2015 23:45

    1       1

    Mr. Hunt seems to be over playing China & Russia relative power. Putin likely not as in control as the west thinks. See Anne Yang's China comments on recent CSIS panel,

  • sp

    shashwat p.

    18 3 2015 04:06

    4       0

    As the great philosopher Mike Tyson once said "Everybody has a plan till they get punched in the face". Things don't usually go according to the plan.

  • AA

    Anthony A.

    18 3 2015 03:10

    5       0

    I am uncomfortable with a concept that the Chinese Politburo has a grasp on the situation and that they will control the bubble. No government has the insight to manipulate this uncertain situation.

  • MB

    Mike B.

    18 3 2015 02:30

    2       0

    So the Sovereign debt crisis begins late 2015 into 2016 with China's strategic re-capitalization of its KEY banks using its foreign reserves and Gold. Absolutely brilliant! Equity markets get smoked!

  • DH

    Dale H.

    18 3 2015 02:02

    2       1

    Enjoyed this interview very much. I signed up to be kept at the leading edge of thought, discussion and research about key topics regarding investment. Simon Hunt contributes a great deal toward this.

  • LP

    Lynn P.

    17 3 2015 15:42

    0       0

    Has the full story been told re: Washington's part in the Ukraine? Clearly, Mr. Hunt has his sources, and Putin believes, perhaps conveniently, that the US "started it".. Will we ever know?

  • CP

    Charlie P.

    17 3 2015 15:02

    2       0

    WOW - amazing -- this interview alone worth the price of the subscription

  • GW

    Grant W.

    17 3 2015 13:49

    3       0

    Simon is a brilliant thinker who is not afraid to entertain possibilities many find too 'big' to allow into their possible outcomes. That's absolutely crucial when analysing places like China & Russia

  • CY

    C Y.

    17 3 2015 13:22

    3       0

    These interviews are by far my favorite. So incredibly enlightening and you learn things you would NEVER hear anywhere else. Keep this guy's interviews coming!

  • JS

    Jim S.

    17 3 2015 02:30

    6       1

    Bottom line:
    Is the US - due to its leadership void - unwittingly dooming itself into irrelevancy?
    How can we conclude otherwise.?

  • RF

    Richard F.

    16 3 2015 22:29

    4       0

    Enlightening,. Typically the Chinese government has, already planned their economy's washing and re-birth while the west can only print more useless paper money. More please from Mr Hunt..

  • GC

    Gary C.

    16 3 2015 22:26

    1       0

    To JD...the downvoters to such prescient thought..Cui Bono.?..has this site disturbed some in the "deep state " .. TTMYGH...

  • MJ

    Matt J.

    16 3 2015 21:58

    1       0

    Very interesting. Hasn't Japan also prepared their contingency.... BoJ owns government debt while people and pensions own foreign and domestic equity?

  • CP

    Charles P.

    16 3 2015 21:30

    7       0

    I will echo what others are saying here. This (and other interviews recently) is very high quality content, and riveting. It really does inform my thinking and decision making. Keep it coming!

  • JS

    John S.

    16 3 2015 20:51

    7       0

    Totally enthralling. We can never have enough of Simon Hunt!

  • BA

    Bruno A.

    16 3 2015 20:50

    6       0

    James Rickards sees an integration of China in a gold back SDR/IMF. I tend to go with Simon, I don't see the interest for China to join a western centric entity/currency when it can create its own.

  • jd

    john d.

    16 3 2015 20:16

    15       0

    Absolutely riveting. I'll never understand how an interview such as this warrants a down vote.

  • GG

    Gerald G.

    16 3 2015 18:56

    6       0

    Thanks for a most interesting interview. No doubt the next few years will be full of turmoil as the US confronts a new powerful block of nations opposed to US policy.

  • CC

    Christopher C.

    16 3 2015 18:43

    6       0

    With China relying on Gold to back their new currency regime. Seems pretty damn smart to me. They just want to get out of the blast radius of the existing systems implosion as best is possible.

  • CC

    Christopher C.

    16 3 2015 18:39

    4       0

    Surgically planned preemptive controlled collapse in China with the winners predetermined. All part of China strategically exiting the existing dollar centric failing current monetary system.

  • PW

    Phil W.

    16 3 2015 18:21

    20       0

    Always great to hear from this very thoughtful man. Need to hear more from him!


  • TW

    Thomas W.

    16 3 2015 17:14

    3       0

    Extremely useful insights.