Episode #48: Charley Grant
58 min

Join TC and Georgia for a unique interview with Wall Street Journal columnist, Charley Grant, who shares his thoughts on the challenges of the biotech/pharma space in the time of Covid, the biggest miss he's had in assessing Tesla's viability, and what it's like as the son of a famous financial historian to develop his own credibility and voice.

Demography Unplugged with Neil Howe
Demography Unplugged with Neil Howe
Hedgeye Risk Management
Vaccines, Republican Women, and New Asia Trade Deal
*In this latest issue of my weekly podcast, we discuss the race for a vaccine. *Both Pfizer and Moderna announced that preliminary data show that their vaccines are over 90% effective. Yet despite the good news, there are still some major hurdles for these vaccines. 1. They have to be stored at sub-zero temperatures. 2. There is deep public distrust in their safety. 3. There hasn't been time to study their long-term effects (ADE, cross-reactivity, immunity duration, etc.). *Is political polling dead?* Pre-election day polls showed Democrats rolling easily into the White House, regaining the Senate, and expanding their majority in the House. While pollsters had the popular vote for the presidency within the margin of error, they failed to predict Senate and House outcomes. They seem to have missed the "shy" Republican voter, who split their ticket. *Republican women expand their numbers. *At least 15 new Republican women were elected to Congress this year, a new record for the party. With all the Republican female incumbents holding their seats so far, GOP women are set to more than double their ranks in the House.  *Between 2019 and 2020, the number of retired Boomers increased by 3.2 million.* Until now, the annual average for this figure has been 2 million. Probable culprit: the pandemic, which is persuading many lower-earning Boomers to call it quits.  *15 Asian countries sign a new trade deal. *Last Sunday, 15 nations signed the RECP, which streamlines country of origin laws. It is the first trade agreement between China, South Korea, and Japan. Noticeably, India is not in the deal. Prime Minister Modi claimed India would be flooded with "cheap" Chinese goods if they took part. *Hungary and Poland stall EU budget and recovery bill.* On Monday, diplomats from Hungary and Poland announced they would veto the long awaited-recovery bill. Their objection stems from a "values" clause which ties grants to having free and democratic institutions.  ********** The content featured here is a small part of Hedgeye’s *Demography Unplugged*, a game-changing market intelligence product brought to you by historian, demographer and best-selling author Neil Howe. Visit us to find out more and subscribe.
1 hr 3 min
Alpha Exchange
Alpha Exchange
Dean Curnutt
Troy Dixon, Founder and CIO, Hollis Park Partners
Cutting his teeth on the acclaimed mortgage trading desk at Salomon Brothers in the 90’s, Troy Dixon gained an early appreciation for the speed and degree to which market liquidity can turn. Now the CIO of Hollis Park Partners, a firm he founded in 2013, Troy shares the perspectives gathered in managing complex trading risk over more than two decades in markets. We talk about his time at Deutsche Bank, where he ran the RMBS trading unit, and the intense pressure to compete in the pre-crisis period for profitability in each aspect of the mortgage lifecycle. Contemplating the asset price wreckage in the aftermath of the housing crash, Troy recounts the challenges in balancing the competing interests of providing market making services for the firm’s client base while risk managing a volatile book of prop exposures. Next, we discuss Troy’s founding of Hollis Park and the path that he has sought to provide for other professionals of color in the financial industry. In thinking back on the heavy lift he undertook, Troy said, “I was naive about a lot of things, but the core thesis of it was to lay the framework for people of color to follow suit in an industry that had created a plethora of wealth for people that don’t look like me.” A firm engaged in finding value in MBS and a variety of structured products, Hollis Park capitalizes on securities that have different prepayment speeds. No conversation with a fixed income expert would be complete without an assessment of Central Banks. And on the Fed, Troy has much to say. Calling low interest rates an addictive drug, Troy sees no obvious path for the Fed to disengage from markets, expecting ongoing volatility linked to this codependency. Please enjoy this episode of the Alpha Exchange, my conversation with Troy Dixon.
46 min
The Derivative
The Derivative
RCM Alternatives
Overheard at a Vol Conference, breaking down EQD Global 2020
One of the leading volatility trading and derivatives investing events of the year wrapped up last month and we have lots of thoughts. From new vol dispersion products to  portfolio design, tail-risk management and structural vol; if it’s been a hot topic in 2020 – Global EQD covered it. We’re joined by Jim Carroll, Senior Vice President at Toroso Advisors and John Cummings, Director of Research at RCM Alternatives. There were sessions we agreed with, opinions from some of our favorite finfluencers,  and even some sessions that straight up made us scratch our head. So what was talked about by the likes of Benn Eifert, Chris Cole, Vineer Bhansali, PIMCO, the CBOE, and more?  Take a listen and find out. Chapters: 00:00-02:45 = Intro 02:46-14:21 = Quick Takeaways that Caught Attention 14:22-29:54 = Learning 2020s Lessons / Tail Hedge Protection 29:55-35:20 = Largest Risks for 2021 / What Possible Grenades could be Coming? 35:21-59:56 = Vol Strategies in a Mad World Follow along with Jim (@vixologist) & John (@cummingsjohnb) on Twitter, and make sure to keep up with the team at EQDerivatives (@EQDerivatives) so you don’t miss their next great event. Here’s the event page over at EQD = https://eqderivatives.com/events/global-eqd-2020 And last but not least, don't forget to subscribe to The Derivative, and follow us on Twitter, or LinkedIn, and Facebook, and sign-up for our blog digest. Disclaimer: This podcast is provided for informational purposes only and should not be relied upon as legal, business, or tax advice. All opinions expressed by podcast participants are solely their own opinions and do not necessarily reflect the opinions of RCM Alternatives, their affiliates, or companies featured. Due to industry regulations, participants on this podcast are instructed not to make specific trade recommendations, nor reference past or potential profits. And listeners are reminded that managed futures, commodity trading, and other alternative investments are complex and carry a risk of substantial losses. As such, they are not suitable for all investors. For more information, visit www.rcmalternatives.com/disclaimer
1 hr
The Contrarian Investor Podcast
The Contrarian Investor Podcast
Nathaniel E. Baker
How Bubbles and False Narratives Made Financial Markets, with Jamie Catherwood, Author of InvestorAmnesia.com
Become a premium subscriber and get this podcast a day or more before the general public! No ads or announcements either! Contrarian.Supercast.Tech   With the Dow Industrial Average hitting 30,000 on the day of this recording, revisiting historical booms and busts feels particularly timely. Jamie Catherwood, the author of InvestorAmnesia.com and a self-proclaimed financial history nerd, is a perfect guide to this discussion. We discuss booms in treasure hunting, bicycles, railroads, breweries, and of course tulips (which it turns out was greatly exaggerated. The guest debunks this). Content Segments (Spotify users can click on time stamp to link to the section directly) * What epoch in financial history is perhaps most apt in light of today's period? (3:38); * How long do these cycles typically last? (12:40); * Bubbles in transportation technology: bicycles, railroads (twice), now electrical vehicles (16:25); * "Tulip mania," often cited as the "mother of all financial bubbles" was in reality nowhere near as crazy as commonly believed (18:40 ); * What are common elements that prick bubbles? (27:08); * The role of central banks and the money supply in the bursting of bubbles (29:59); * Background on the guest (40:36); * How he started his website on financial bubble history (45:44) * Contrarian investors through history (51:59); * Epilogue: bonus content for supporters of Tottenham Hotspur only (57:05). More Information on the Guest * Website: InvestorAmnesia.com * Twitter: @InvestorAmnesia * Financial History Course (premium subscribers get 10% off the price).
1 hr 1 min
Quoth the Raven
Quoth the Raven
Quoth the Raven Research, LLC
Quoth the Raven #230 - Groundhog Day: Janet Yellen Edition
On this podcast, I rant about Biden selection Janet Yellen as Treasury Secretary, gold selling off, the coming end of the Covid panic and Elon Musk adding $100 billion to his net worth in 2020. The QTR Podcast is a completely, 100% listener supported podcast that is always going to be free. YouTube does not let me monetize my videos on the site and the podcast is full time work which will never have ads in the middle of it. If you enjoy the content, please support the QTR Podcast in any or all of the following ways: A small recurring donation via: Patreon: https://www.patreon.com/QTRResearch One time donations can also be sent via:Bitcoin: 3G25NvNbGZsaDfoxTBzRFticKa4LDUeBpkVenmo: @chrisinphiladelphiaPaypal: https://www.paypal.me/qtrresearch You can join my e-mail list here and visit my website at www.quoththeravenresearch.com for all of my content. QTR MERCH is also now available here. You can also follow me on YouTube, Twitter, and Instagram. THANK YOU TO ALL OF MY KIND PATRONS. Please show love to those who support the QTR Podcast: Biggest Patron Donors * JM Bullion - where QTR buys gold & silver - Twitter: @JMBullion * The Trader's Path - no BS trading service - Twitter: @PLHStock * Sang Lucci Trading - the 3LT playbook - also, the SL Master Course * Corvus Gold - http://www.corvusgold.com * Investors Underground - day trading community - Twitter: @investorslive * Ken R * Chris Bede - Twitter: @cbede * Nicholas Parks * Matthew Zimmer * J Mintzmyer - Twitter: @mintzmyer * Russ Valenti - Twitter: @russellvalenti * Creighton Titus Longest Running Supporters * Max Mulvihill - Since 2/2018 * Kyle Thomas - Since 4/2018 * Chris Bede - Since 5/2018 * Dariusz Kordonski - Since 5/2018 * Chris Gerrard - Since 5/2018 All podcast content is subject to this disclaimer. Chris is not an investment adviser. QTR is long gold and silver. Listeners should always speak to their personal financial advisers. Please leave me alone.
49 min
Palisades Gold Radio
Palisades Gold Radio
Collin Kettell
Steve St. Angelo: Energy Crisis to Cause Never-Ending Gold Bull
Tom welcomes a new guest to the show, Steve St. Angelo from the SRSrocco Report. Steve says, "You don't have an economy unless your burning energy. Today, we take energy for granted." For thousands of years, gold and silver represented that energy store. Steve discusses his video "The Energy Cliff," which argues that technology itself is an energy consumer. Since GDP is directly linked to energy, there is an increasingly bad feedback cycle coming. Shale oil over the past decade has been responsible for current economic growth. This expensive and unsustainable oil source has temporarily propped up the world. He discusses how energy returned per barrel has declined massively since the 1930s. Today, the world is consuming four barrels of oil for every new barrel discovered. Debt and low-interest rates are being used to offset this lack of energy availability. He argues that you can't offset a decline in energy from fossil fuels with wind and solar. Alternative energy requires a lot of energy input to create those panels and turbines. He discusses the limits of nuclear power and why he believes we will see peak gold production in the coming years. The 2008 financial crisis and now the pandemic crisis has made people understand gold and silver. As this energy crisis worsens, more people will want to acquire precious metals. Steve argues that the next bull market in precious metals will not end. He believes the pandemic has provided us with a preview of where real estate and the economy will head. Lastly, Steve discusses why silver will be driven by investment demand and why futures markets only work in a stable economy with stable production levels. Talking Points From This Episode World Takes Energy for GrantedEnergy Return on InvestmentLack of Oil AlternativesUranium, Gold, Silver & Futures Time Stamp References:0:00 - Intro0:54 - Steve's Energy Thesis3:41 - Growth & Energy Cliff6:22 - Technology & EROI8:00 - Unsustainable Shale Oil9:42 - EROI Statistics12:09 - Oil Usage & Green Energy17:09 - Uranium & Nuclear19:24 - Peak Gold Production?22:50 - Oil & Metal Price Trends25:20 - Next Gold Bull Won't End27:20 - Thermodynamic Economy34:30 - Why Silver is Undervalued36:25 - Investment Demand37:22 - Technicals39:51 - Futures Contracts43:00 - Bitcoin & Energy Guest Links:Website: https://srsroccoreport.com/Twitter: https://twitter.com/SRSroccoReportYouTube: https://www.youtube.com/channel/UCED7G7CZfqdSV9zttlr1M_g Independent researcher Steve St. Angelo (SRSrocco) started to invest in precious metals in 2002. Later on, in 2008, he began researching areas of the gold and silver market that, curiously, most of the precious metal analyst community have left unexplored. These areas include how energy and the falling EROI – Energy Returned On Invested – stand to impact the mining industry, precious metals, paper assets, and the overall economy. Steve considers studying the impacts of EROI one of the most important aspects of his energy research. For the past several years, he has written scholarly articles on some of the top precious metals and financial websites. You can find many of Steve's articles on noteworthy sites, such as GoldSeek-SilverSeek, Market Oracle, Financial Sense, GoldSilver.com, SilverDoctors, TFMetals Report, Outsiderclub, SGTreport, BrotherJohnF, Hartgeld, Der-Klare-Blick, PeakProsperity, SilverStrategies, DollarCollapse, FurtureMoneyTrends, Sharpspixley, FinancialSurvivalNetwork, PMBull, Deviantinvestor, PMBug, Wealthwire, and ZeroHedge.
47 min
Top Traders Unplugged
Top Traders Unplugged
Niels Kaastrup-Larsen
116 The Systematic Investor Series – November 29th, 2020
In today’s episode, we discuss how to effectively manage your emotional stability regardless of trading performance, the true value of Bitcoin and the various catalysts behind its price movements, the importance of being able to get back into a trade you may have recently been stopped out of, managing leverage and volatility in a portfolio, how to approach extreme anomalies in historical price data, and much more. Thanks to Gene for submitting your voicemail to the show.  If any listeners would like to leave a message, you can do so here. Check out our Global Macro series here. Learn more about the Trend Barometer here. IT's TRUE 👀 - most CIO's read 50+ books each year - get your copy of the Ultimate Guide to the Best Investment Books ever written here. And you can get a free copy of my latest book "The Many Flavors of Trend Following" here. Send your questions to info@toptradersunplugged.com Follow Niels & Moritz on Twitter: @TopTradersLive & @MoritzSeibert And please share this episode with a like-minded friend and leave an honest rating & review on iTunes so more people can discover the podcast. Top Traders Unplugged wins award for ‘Best Trading Podcast’ and features among the ‘Top 20 Best Investing Podcasts in 2020’ by The Investors Podcast 🏆 Episode Summary 0:00 - Intro 1:33 - Macro recap from Niels 3:17 - Weekly review of returns 8:13 - Q1, via voicemail, from Gene in New Zealand: Is it ok to ignore perceived anomalies & outdated occurrences in historical data? 20:49 - Q2; Veyana: If I get whipsawed out of a trade and it sets up again immediately after, should I take the trade again? 25:26 - Q3; Terrance: How do I control the leverage of my portfolio when utilising volatility parity? 32:00 - Q4; Sebastien: How do you separate your self-worth from your net worth? 39:49 - Performance recap 41:10 - Recommended podcast listening this week: The Vinklevoss Twins on the What Bitcoin Did Podcast & Robert Breedlove on the Bitcoin Fundamentals Podcast (Investors Podcast Network) Subscribe on:
1 hr 1 min
The Acquirers Podcast
The Acquirers Podcast
Tobias Carlisle
Smart Money: Steve Clapham on forensic accounting for hedge funds with Tobias Carlisle on The Acquiers Podcast
Stephen Clapham, the forensic accounting expert and founder of Behind the Balance Sheet, on his new book The Smart Money Method: How to pick stocks like a hedge fund pro  Stephen Clapham runs Behind the Balance Sheet https://www.behindthebalancesheet.com/  Stephen's Twitter account: https://twitter.com/steveclapham ABOUT THE PODCAST Hi, I'm Tobias Carlisle. I've launched a new podcast called The Acquirers Podcast. The podcast is about 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 Firm: https://acquirersfunds.com/ Website: https://acquirersmultiple.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 comp
54 min
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