On The Tape
On The Tape
Jan 22, 2021
”Planes, Pains and Automobiles” and an interview with famed investor Jim Chanos
Play • 53 min

In this week’s episode of On The Tape, Guy Adami, Dan Nathan and Danny Moses discuss the current state of the airlines, how EV multiples are creeping into traditional autos and everything in between. Guy, Dan and Danny then speak with legendary investor Jim Chanos. Jim gives his current thoughts on markets, short opportunities and provides anecdotes from the past.

Shoot us an email at contact@riskreversal.com with any feedback, questions, or suggestions going forward and follow us @OnTheTapePod.

Follow the co-hosts:

Dan Nathan is @RiskReversal on Twitter and you can subscribe to his email list at RiskReversal.com.

Follow @GuyAdami on Twitter.

Follow Danny Moses @DMoses34 on Twitter.

The Derivative
The Derivative
RCM Alternatives
The VOLvengers: Wayne Himelsein (Iron Man) & Mike Green (Captain America)
We’re bringing out the cake & ice cream for this pod because it’s The Derivative’s 1 year anniversary! If you’ve been with us since the beginning – you may fondly remember our inaugural episode The Human Behind The Hedge Fund with Wayne Himelsein. So, in today’s episode, we brought back Wayne, President and Chief Investment Officer at Logica Capital Advisers, and as a special anniversary bonus – his business partner Michael Green, Chief Strategist at Logica.  We’re talking with Mike and Wayne about running a hedge fund and helping clients through the trials and tribulations of 2020, the “two star” problem, Twitter fitting into the business model, straddling volatile calls, inception of the Iron Man (Wayne) and Captain America (Mike)partnership, dynamic of the macro overlay logic, value vs momentum, staying power of the Wall Street Bets model, COVID due diligence, and failure not being part of the Logica vocabulary. Chapters: 00:00-02:25 = Intro 02:26-22:44 = One Year Anniversary! 22:45-39:35 = Value vs Momentum – when the system needs to breathe / Noise Traders 39:36-50:45 = The Tony Stark/ Captain America Dynamic  50:46-58:58 = The Two-Star Problem 58:59-01:09:05 = Hard-Hitting Tweets 01:09:06-01:21:04 = Favorites Follow along with Mike (@profplum99)and Wayne (@WayneHimelsein) on Twitter and check out the Logica Capital Advisers website. Check out our past episode with Wayne here; and our past episode with Mike here.  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 21 min
Alpha Exchange
Alpha Exchange
Dean Curnutt
Mark Friedman, Founder and CIO, DLD Asset Management
For Mark Friedman, the Founder and CIO of DLD Asset Management, the convertible bond market has always made for interesting study. Sitting at the intersection of critical asset classes, the convertible bond market requires investors to assess risk from many dimensions at once. And with valuation components derived from equity, interest rate, credit and volatility risk, converts have provided Mark with plenty to analyze over nearly 3 decades in markets. Our conversation is a retrospective on the evolution of this hybrid product – from Mark’s early days trading Asian convertibles in the mid 90’s to the high vol, crowded era of the early 2000’s, all the way to today. Along the way in our discussion, we happen upon some of the important risk events in converts that Mark has traded through. He highlights some of the ancillary risks that an investor assumes in a converts, specifically, borrow, dividends and a vol dampening take-over, and how the market has sought to address these. We also spend some time assessing the changing buyer base in converts, from a market once dominated by arbitrage accounts to one in which long only capital has become a great proportion. Lastly, we discuss portfolio construction in a world of low rates, active Central Banks and risks that originate from sources not previously contemplated. In this context, Mark shares his thoughts on tail risk hedging, recognizing both its value and cost and preferring to keep it simple using listed options. I hope you enjoy this episode of the Alpha Exchange, my conversation with Mark Friedman.
47 min
Demography Unplugged with Neil Howe
Demography Unplugged with Neil Howe
Hedgeye Risk Management
Listener Questions, The Pandemic Baby Bust, and China's Hanification
*In this latest issue of my weekly podcast, I answer listener-submitted questions.* Is multi-generational housing a long-term trend? Are we transitioning from an ‘era of logic’ to an ‘era of emotion’? Is America paralleling the decline of the Roman Empire? I go in-depth on all of these questions and more.  *China accelerates "Hanification" efforts. *Xi Jinping's cultural campaign aims to transform all non-Han cultures in China into "Han" culture. These efforts include promoting Han food, Han dress, Mandarin, and the spread of Confucius institutes. It also means the suppression of local languages and religions.    *EU set to impose new sanctions. *The EU has agreed to sanction four unnamed Russian officials involved in the persecutions of Alexei Navalny. The sanctions will include travel bans and asset freezes. The EU will formally adopt these measures in March.  *Births fall in China. *From 2019 to 2020, the number of registered newborns in China fell by 15%. The steep drop underscores the demographic headwinds facing the country, which has long struggled with a long-term birthrate decline.  *Births fall in Europe.* New numbers from Italy and France indicate that these countries are also seeing pandemic-era baby busts. Figures from December 2020 and January 2021 show that births in several major cities have declined 10% to 25%. ********** 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 2 min
The Business Brew
The Business Brew
Bill Brewster
BONUS: Naufal Sanaullah - Inflation: Not So Certain
Naufal Sanaullah is the macro advisor at EIA Alpha Partners. EIA is a minority-owned firm that has realized very impressive results since inception. Among its many awards, EIA boasts the following (see https://eiaalphapartners.com/): #1 Net Returns of Top Performing Relative Value Strategies Hedge Funds in 2019 #3 Net Returns of 2017-Inception Hedge Funds in 2019 #4 Net Returns of Top Performing Volatility Trading Hedge Funds in 2019 #5 Net Returns of Top Performing Hedge Funds in 2019 with Less than $100mn in AUM #8 Net Returns of Top Performing North America-Based Hedge Funds in 2019 #16 Net Returns of Top Performing Hedge Funds in 2019 Naufal is responsible for macro strategy, macro trading, and overall portfolio management at EIA. Prior to EIA, he was involved in portfolio construction and macro strategy at Li Global Investors, a macro hedge fund in New York City. He studied mathematics at University of Michigan and Stony Brook University. His macro research has been highlighted in various media platforms, including Bloomberg, Business Insider, and Financial Times. He enjoys spending his free time producing hip-hop instrumentals and nurturing his puppy Nas. In this episode Naufal joins Bill to discuss Naufal's view on inflation, policy efficacy, and what to watch for going forward. Bill, historically an Austrian leaning investor, found it interesting to listen to Naufal describe his view of the world, which is far more Keynesian and could be called Modern Monetary Theory driven. The Business Brew is proud to feature this conversation for many reasons. One of which is the discussion is counter to the current market narrative/pricing on/of future inflation. If you like to consider both sides of an issue, this is a must listen macro episode. Also, please consider donating to https://www.publicolor.org/ if Naufal's message resonates with you.
1 hr 51 min
Quoth the Raven
Quoth the Raven
Quoth the Raven Research, LLC
Quoth the Raven #242 - J Mintzmyer
J Mintzmyer joins me to talk all things shipping stocks and investing in shipping. J Mintzmyer (@mintzmyer) is a renowned maritime shipping and deep value specialist with over 10 years of maritime sector expertise. J is the Head of Research at Value Investor's Edge where he has outperformed the shipping sector average for 6 consecutive years and has beaten the Russell 2000 in 5 of the past 6 years. J has earned a BS in Economics from the Air Force Academy, an MA in Public Policy from the University of Maryland, and is a PhD Candidate at Harvard University. I've known J virtually for almost a decade via Seeking Alpha and we've also collaborated together for charitable events with Traders4ACause including at conferences in Las Vegas and New York. J's service, Value Investor's Edge has two-week free trials available for anyone who is interested in learning more via this link. 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: 3G25NvNbGZsaDfoxTBzRFticKa4LDUeBpk Paypal: https://www.paypal.me/qtrresearch QTR MERCH is available here. You can also follow me on YouTube, and Twitter. THANK YOU TO ALL OF MY KIND PATRONS. Please show love to those who support the QTR Podcast: * George Gammon - Rebel Capitalist Pro - Twitter: @GeorgeGammon * JM Bullion - where QTR buys gold & silver - Twitter: @JMBullion * The Trader's Path - no BS trading service - Twitter: @PLHStock * Sang Lucci & Wall St. Jesus — The Steamroom — Twitter: @wallstjesus and @sanglucci * 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.
1 hr 12 min
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