The Portfolio Puzzle of Our Lifetime
Play • 1 hr 13 min
This is the thing we all need an answer for - starting valuations for stocks have rarely been higher, while starting bond yields have never been lower. Can stocks return enough going forward to overcome this hurdle? Will bonds deliver the hedge against volatility investors are counting on? On this week’s podcast, I’ve brought on two thoughtful, accomplished asset allocators to answer these questions and suggest solutions to the puzzle. Bob Haber is the founder and CIO of Proficio Capital Partners, a veteran fund manager for Fidelity and part owner of the Boston Celtics. Mebane Faber is the founder and CIO of Cambria Investment Management, as well as the host of The Meb Faber Show podcast. We discuss value and growth stocks, international equity markets, gold, the dollar, Treasury bonds and a lot more.I hope you get a lot out of this week’s episode and wish you a Happy Thanksgiving. If you’re enjoying The Compound Show, please leave us a rating and review - they go a long way! 

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The Razor's Edge
The Razor's Edge
Shortman Studios
E-Commerce, Chat Commerce, and What's Here To Stay Post-Covid
E-commerce has risen to the point where just about everybody is an e-commerce company, and that goes even beyond retailers of goods. To understand that trend and to see how far it might stretch, we talk about the adoption of chat and social commerce in emerging markets with Ramy Assaf, Ceo of Zbooni, a Dubai-based fintech/commerce startup. He tells us how he came to build Zbooni, what it's like working with Facebook, why Square and Shopify are model companies for his firm, and how consumer behavior is changing amidst everything that's happened in the last year.Topics Covered * 2:30 minute mark - Ramy’s background * 5:30 – The Zbooni origin story and the new way of selling * 12:00 – Working with Facebook * 14:30 - Going from point product to product suite, with Shopify and Square as examples * 18:30 – Facebook’s role in e-commerce * 22:00 – Facebook integration * 30:30 - Chatcommerce vs. e-commerce and the e-commerce myth * 34:00 – The breadth of ‘e-commerce’ in 2020 * 37:00 - COVID environment and the role of cash * 44:30 - COVID reaction and SMB vs. enterprise * 49:30 - COVID reaction and the user behavior * 57:30 - Services vs. goods and changing behavior for services businesses * 1:04:30 – Amazon’s enduring example * 1:14:00 - The post-covid world * 1:20:30 - Fundraising in Covid * 1:24:00 - Customer perspective on pre-paying * 1:34:00 - What’s next for Zbooni
1 hr 36 min
WEALTHTRACK
WEALTHTRACK
Consuelo Mack
Financial To-Do List For A New Year [2021]
Blast off! Stock markets are setting records, with tech stocks leading the charge once again. “Don’t fight the Fed” should now encompass “don’t fight the Treasury, fiscal stimulus, vaccinations and investor demand for ‘real’ (after inflation) returns.” The Wall Street Journal reports that the “S&P 500 rose 14.3% from Election Day through Inauguration Day, its best performance on record for that period.” (The Wall Street Journal “Stocks Climb To Records, Led By Tech Sector” 1/21/21)    In retrospect, 2020 was an entire year for the record books:  - A once in a century global pandemic; - Unprecedented, massive monetary and fiscal stimulus; - A brief deep recession and the shortest bear market in U.S. history; - A record-breaking stock market rally; - The continuation of near record-low interest rates - And the election of a new president with a very different policy agenda.  Portfolio rebalancing is just one of the actions on Christine Benz’ financial to-do list this year. In part 2 of our interview with Morningstar's Director of Personal Finance, she helps us get in personal financial shape for the year ahead.   WEALTHTRACK #1730 broadcast on January 22, 2021 More info: https://wealthtrack.com/2021s-financial-to-do-list-with-morningstars-personal-finance-guru-christine-benz/ Books mentioned in  the episode: 30-Minute Money Solutions: A Step-by-Step Guide to Managing Your Finances: https://amzn.to/3ig0cZE Morningstar Guide to Mutual Funds: Five-Star Strategies for Success: https://amzn.to/3ifVVp8 --- Support this podcast: https://anchor.fm/wealthtrack/support
26 min
Alpha Trader
Alpha Trader
Seeking Alpha
Focusing on prices, not the news - J.C. Parets joins Alpha Trader
If you’re looking for a tonic to the ceaseless flow of (mostly) disturbing news on any number of fronts, than this week’s Alpha Trader podcast is for you. Host Aaron Task is joined by J.C. Parets, market technician nonpareil and chief market strategist at All Star Charts (co-host Stephen Alpher is out this week) .  His eye always on the price charts and never on the news flow, Parets remains bullish on stocks. To those who say the bull market needs a break, Parets would say there’s already been one, noting leading names like Apple, Microsoft, Amazon, Google, Facebook, and Alibaba are flattish-to-down (in some cases significantly down) since early September - that’s more than four months of lame performance. If you ask him for a price targets, Parets will say 38K, or nearly 25% upside on the Dow (DJI), and 4.5K, or about 20% upside on the S&P 500 (SP500). New information rolls in every day, however, and Parets won’t be afraid to change his opinion if the facts change. For now, he’s keeping his eye on the above-mentioned names, and is looking for those stocks to move to new highs to confirm his bullish case. And what might turn Parets bearish? Price signals of course … Treasury bonds outperforming stocks, a strong relative bid in consumer staples, widening credit spreads, a rollover in the aussie/yen currency cross, a deterioration in market breadth. At the moment, just the opposite of every single one of these bearish omens is happening, so Parets sees little reason not to stay long equities. Want another signal? Take a look at Deutsche Bank (DB). It’s been hitting new 52-week highs. If the world (and the S&P 500) is really about to fall apart, would this most risky and sclerotic of banks be breaking out to the upside? Hardly, says Parets. Turning to bitcoin (BTC-USD), Parets remains bullish, with $46K as his upside target. On the downside, he sees $30K as key support, and a sustained break below that level would be a sign of worse to come. As always, though, Parets is just looking at the charts, and isn’t treating bitcoin analysis any differently from that of stocks. He warns that once one begins buying into the religion status of bitcoin, they can no longer think rationally about the trade. Learn more about your ad choices. Visit megaphone.fm/adchoices
37 min
The Acquirers Podcast
The Acquirers Podcast
Tobias Carlisle
Value: After Hours S03 E2 St Petersburg Paradox, JPM's Wide Value Spread, Risk and Valuation
Value: After Hours is a podcast about value investing, Fintwit, and all things finance and investment by investors Tobias Carlisle, Bill Brewster and Jake Taylor. See our latest episodes at https://acquirersmultiple.com/  Jake's offer: http://farnam-street.com/vah Donate to the FinTwit Value vs Growth War here (it's for a good cause--The American Foundation for Suicide Prevention): https://www.gofundme.com/f/fintwit-war-value-vs-growth About Jake: Jake is a partner at Farnam Street. Jake's website: http://farnam-street.com/vah Jake's podcast: https://twitter.com/5_GQs Jake's Twitter: https://twitter.com/farnamjake1 Jake's book: The Rebel Allocator https://amzn.to/2sgip3l About Bill: Bill runs Sullimar Capital Group, a family investment firm. Bill's website: https://sullimarcapital.group/ Bill's Twitter: @BillBrewsterSCG ABOUT THE PODCAST Hi, I'm Tobias Carlisle. I launched The Acquirers Podcast to discuss the process of finding undervalued stocks, deep value investing, hedge funds, activism, buyouts, and special situations. We uncover the tactics and strategies for finding good investments, managing risk, dealing with bad luck, and maximizing success. SEE LATEST EPISODES https://acquirersmultiple.com/podcast/ SEE OUR FREE DEEP VALUE STOCK SCREENER https://acquirersmultiple.com/screener/ FOLLOW TOBIAS Website: https://acquirersmultiple.com/ Firm: https://acquirersfunds.com/ Twitter: https://twitter.com/Greenbackd LinkedIn: https://www.linkedin.com/in/tobycarlisle Facebook: https://www.facebook.com/tobiascarlisle Instagram: https://www.instagram.com/tobias_carlisle ABOUT TOBIAS CARLISLE Tobias Carlisle is the founder of The Acquirer’s Multiple®, and Acquirers Funds®. He is best known as the author of the #1 new release in Amazon’s Business and Finance The Acquirer’s Multiple: How the Billionaire Contrarians of Deep Value Beat the Market, the Amazon best-sellers Deep Value: Why Activists Investors and Other Contrarians Battle for Control of Losing Corporations (2014) (https://amzn.to/2VwvAGF), Quantitative Value: A Practitioner’s Guide to Automating Intelligent Investment and Eliminating Behavioral Errors (2012) (https://amzn.to/2SDDxrN), and Concentrated Investing: Strategies of the World’s Greatest Concentrated Value Investors (2016) (https://amzn.to/2SEEjVn). He has extensive experience in investment management, business valuation, public company corporate governance, and corporate law. Prior to founding the forerunner to Acquirers Funds in 2010, Tobias was an analyst at an activist hedge fund, general counsel of a company listed on the Australian Stock Exchange, and a corporate advisory lawyer. As a lawyer specializing in mergers and acquisitions he has advised on transactions across a variety of industries in the United States, the United Kingdom, China, Australia, Singapore, Bermuda, Papua New Guinea, New Zealand, and Guam.
1 hr 2 min
The Contrarian Investor Podcast
The Contrarian Investor Podcast
Nathaniel E. Baker
The Biden Administration and Risks to Global Growth
This episode is brought to you by Merk Research. Visit this link to take advantage of the offer presented on the podcast. To listen without ads or announcements, become a premium subscriber. Barry Knapp of Ironsides Macroeconomics rejoins the podcast to discuss his view on "policy tremors" that could upend economic and risk asset growth in 2021. (Barry's dog Oliver makes a brief appearance as well). Content (Spotify users can skip directly to the segment by clicking on the timestamp) * The current reflation theme is part of a recovery from what was actually a two-year recession in global manufacturing, trade, and capital spending (4:19); * The Federal Reserve will initially be pleased with rising inflation, having slayed the deflation boogeyman. This will eventually morph into discomfort (first from regional bank presidents) and concerns that inflation is moving "too far, too fast" (11:43); * Once this happens, Fed officials will begin discussing "policy normalization" and real rates will start to move, triggering a risk-off event (13:19); * The Georgia elections the first week of the year were a kind of "sneak preview" of this event, but look to mid-year for the real McCoy (16:37); * Another important indicator: Watch house prices through the spring selling season (20:40); * Two details of President-elect Biden's $1.9 trillion stimulus proposal that are not fully appreciated by the market (21:41); * The Democrats will likely ask for more than Republicans are willing to give, triggering reconciliation that would be a rude awakening for the market (28:38); * If the $1400 stimulus checks go through it may lead to another "speculative blow off" (30:50); * There is no indication President-elect Biden is willing to roll back tariffs on China, though he could re-engage in TPP. But anybody expecting a broader unwinding of the trade war "is pretty off-base" (33:00); * Look for further USD weakness, particularly against the yen and the euro (37:57); * Favorite asset classes for 2021 (41:09) More About The Guest * Website: IronsidesMacro.Substack.com * Twitter: @BarryKnapp * Podcast Not intended as investment advice.
49 min
The Long View
The Long View
Morningstar
George Kinder: A Financial Plan Needs To Be a Life Plan
Our guest on the podcast today is George Kinder. He founded the Kinder Life Institute, which trains financial professionals in the field of what's called Life Planning after a 30-year career as a practicing financial planner and tax advisor. George is also the author of several books dedicated to teaching advisors about life planning: The Seven Stages of Money Maturity, Lighting the Torch, and Life Planning for You. He was the first winner of the Financial Planning Association's Heart of Financial Planning Award, which recognizes "individuals who demonstrate commitment and passion in doing extraordinary work to contribute or give back to the financial planning community and/or the public." Background Bio The Kinder Institute of Life Planning Books The Genesis & Discovery Process of Life Planning EVOKE:® A Life Planning Methodology “Psychology and Life Planning,” by George Kinder and Susan Galvan, kinderinstitute.com. “George Kinder: Three Questions About Life Planning,” by J.D. Roth, getrichslowly.org, Feb. 15, 2009. “Financial Planner Vs. Financial *Life* Planner. Which One Is the “Right One” for Me?” by Cristina Livadary, manafld.com, Jan. 24, 2020. “Kinder: Wisdom and Life Planning in the Coronavirus Era,” by George Kinder, financialplanningtoday.co.uk, April 6, 2020. Financial Advice Webinar: “George Kinder on Work-Life Balance--Life Planning & Mindfulness,” by George Kinder, brighttalk.com, Jan. 28, 2016. Seven Stages of Money Maturity Workshop EVOKE® 5-Day Life Planning Training Life Planning for You
43 min
Stansberry Investor Hour
Stansberry Investor Hour
Stansberry Research
What's Wrong With the Hedge Fund Industry?
Despite the multitude of problems facing our country, stocks keep moving higher and higher, leading more people to question if we're currently in a bubble. This leads Dan to explore two important questions. What do you do with your money when you know you're in a bubble? And what do you do if you know that bubble can last for years before popping? Then Dan invites Andrew Beer, Managing Member at Dynamic Beta Investments, on to the show to answer some questions about the world of hedge funds. Andrew joined the hedge fund industry in 1994 as a portfolio manager at Baupost for the legendary Seth Klarman. In recent years, Andrew's focus has been on how the hedge fund model can be improved based on liquidity, access, and cost perspectives. Dan and Andrew discuss his start in the industry and how things have changed over the past 3 decades. Andrew shares some of the reasons hedge funds have declined in popularity over the years.... and how his firm, Dynamic Beta Investments, is looking to change that. And finally, on this week's mailbag quite a few listeners write in to give their perspective on what living through a coup is really like. Some agree with Dan while some others take exception with how Dan spoke about the situation. One even accuses Dan of being a Trump cultist! Listen to Dan's fiery rebuttal to this email and more on this week's episode. Interested in more from Stansberry Research? Check out the American Consequences podcast here: https://podfollow.com/americanconsequences
1 hr 19 min
Value Hive Podcast
Value Hive Podcast
Brandon Beylo
Chasing Gem Dealers & Great Stocks w/ Alex Barrow, Macro-Ops.com
This episode is brought to you by TIKR. Join the free beta today at TIKR.com/hive. They're constantly releasing new updates that make the platform better including a new Business Owner Mode that hides share count, market cap, and enterprise value. I couldn't be more excited to partner with TIKR. Alex Barrow is the Co-Founder and Cheif Market Strategist at Macro-Ops.com. Alex joined the US Marine Corps on his 18th birthday just one month after the 9/11 terrorist attacks. He subsequently spent a decade in the military. Serving in various capacities from scout sniper to interrogator and counterintelligence specialist. Following his military service, he worked as a contract intelligence professional for a number of US agencies (from the DIA to FBI) with a focus on counterintelligence and terrorist financing. He also spent time consulting for a tech company that specialized in building analytic software for finance and intelligence analysis. After leaving the field of intelligence he went to work at a global macro hedge fund. He's been professionally involved in markets since 2005, has consulted with a number of the leading names in the hedge fund space, and now manages his own family office while running Macro Ops. He's published over 300 white papers on complex financial and macroeconomic topics, writes regularly about investment/market trends, and frequently speaks at conferences on trading and investing. This conversation spanned EVERYTHING from Alex's time at the Marines to his days as a bodyguard for Brittney Spears. We even managed to fit in some market discussions and our 2020 Macro Ops Portfolio Performance.  Here's the time-stamp:  * [5:34] Cold Calling Jack Schwager * [14:32] Working at Bridgewater * [23:13] How Alex Became A Bodyguard For A Gem Dealer * [33:13] Lessons Learned From Losing $100K+  * [47:58] Transparency in The Newsletter Business * [57:56] When Does Cloning Go Too Far?  * [67:13] Alex's Biggest Errors of 2020 * [78:56] Aligning Micro With Macro * [80:04] What We Did Right & Wrong in The Portfolio * [86:26] Closing Questions If you like what you heard, check us out over at Macro-Ops.com. And make sure to follow Alex on Twitter @MacroOps
1 hr 32 min
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