Real Vision: Finance & Investing

Latest Episodes:

Takeaways from the Miami Bitcoin Conference Jun 08, 2021

Show notes

DB-June7,2021: Real Vision managing editor Ed Harrison and senior editor Ash Bennington sit down together on the Daily Briefing to provide their insights into today’s market price action and share their experience at the Miami Bitcoin conference from this past weekend.

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Weak Demand and the Return to "Normal" Illusion ( w/ Paul Hodges ) Jun 08, 2021

Show notes

RV Live replay: Paul Hodges of The pH Report and New Normal Consulting returns to Real Vision to update viewers on the health of the global economy and what that means for financial markets. Hodges and his team see big changes on the horizon and, through their analysis of the chemical industry, auto market, and technology sector, see a return to the "old normal" as being highly unlikely. In this interview with Max Wiethe, Hodges highlights the important data leading him to believe that post-COVID the world will look very different as demand patterns shift, reshoring continues, and momentum for "the green recovery" grows. An excerpt from the most recent edition of The pH Report looking at the auto market can be found here: https://www.realvision.com/issues/auto-markets-shaken-by-covid-and-evs. To access Hodges' charts, please use this link: https://rvtv.io/3bvZXqA.

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Jens Nordvig: The Death of Fixed Income Jun 07, 2021

Show notes

The Interview: Danish-born economist Jens Nordvig, founder of Exante Data, a data and analytics firm for institutional investors that specializes in foreign exchange markets and macroeconomic policy, joins Real Vision co-founder and CEO Raoul Pal for a deep-dive conversation on the global economic outlook; the impact of the vaccine rollout on the U.S., Europe and emerging markets; and the likelihood of multi-year fiscal stimulus. Nordvig sees monetary policy frameworks evolving in ways that are unfriendly toward bonds, like Average Inflation Targeting (AIT), causing a fundamental rethinking among investors for owning fixed income assets.

Recorded April 7, 2020. Key Learnings: A multi-decade bull market in fixed income lasted longer than many expected due to negative interest rate policy, and the COVID shock made central banks across the globe max out monetary policy. Interest rates are currently unattractive to many kinds of investors, and the economic outlook is such that risk assets look attractive, including cryptocurrency. Follow @jnordvig @ExanteData. Visit Exante Data (https://www.exantedata.com/).

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Marko Papic: Generating Geopolitical Alpha Jun 05, 2021

Show notes

The Interview: Marko Papic, partner and chief strategist at Clocktower Group, joins Michael Green to discuss how and why geopolitics will have major effects on markets in the coming years with a particular focus on U.S.-China relations. They discuss everything from Taiwan and the issue of semiconductor supply chains to other actors like Russia as well as the merits and faults of Cold War analogies. They also touch on what Papic calls "the most important macro chart of this cycle" and the domestic issue of income inequality and the resulting policy outcomes. Finally, Green and Papic help viewers understand the magnitude of the green energy initiatives and what Papic believes are the best and worst ways to gain exposure to this megatrend.

Recorded on March 31, 2021.

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Equities and Bonds Retreat as "BANG" Stocks Squirm Jun 04, 2021

Show notes

DB-Jun3,2021: Real Vision’s Jack Farley and Weston Nakamura guide viewers through a topsy-turvy day of price action where U.S. stocks and bonds sell off together as the “BANG” meme stocks (Blackberry, AMC, Nokia, and GameStop) pare some of yesterday’s gains. They also roll a pre-recorded segment of Real Vision managing editor Ed Harrison and crypto editor Ash Bennington, who reports from Miami’s 2021 Bitcoin conference. Farley and Nakamura close by reviewing the Fed’s decision to sell its holdings of corporate bonds and analyzing what the potential knock-on effects would be if the Turkish Lira were to continue to deteriorate. To read more of Weston's thoughts on the relationship of Bitcoin, gold, and the Turkish Lira, click here: https://rvtv.io/BTCLiraGoldEXCH

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Second Coming of the Meme Stocks? Jun 03, 2021

Show notes

DB-Jun2,2021: Real Vision’s Jack Farley and Weston Nakamura cover the resurgence of “meme stocks” such as AMC Entertainment Holdings ($AMC) and Bed Bath & Beyond ($BBBY). They analyze the seemingly inexorable rise of commodities like oil as well as growth stocks such as Tesla Inc ($TSLA) that may be struggling to regain their footing. Nakamura also looks at the surge in Dogecoin and the halt of once-hot investments such as SPACs and NFTs.

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QCP Capital: A Breakdown of Asia's Crypto Markets Jun 02, 2021

Show notes

Crypto Wednesday: Darius Sit and Joshua Ho, co-founders of QCP Capital, joins Raoul Pal, Real Vision CEO and co-founder, to discuss Asia's crypto demand, how it differs from the West, and the future of those markets. Sit explains that almost no one in China uses physical dollars any more and that the existing, widespread usage of digital payments paves way for a smooth transition into the adoption of crypto payments. Ho mentions that this isn't just specific to Asia—all countries with a remittance corridor are likely to find utility and value from adopting crypto payments systems, which allow them to bypass the high intracountry remittance costs. They both believe that corporations are almost ready to begin allocating capital to the crypto space, but they are now looking for the most appropriate products to allocate to as crypto seems to have now been broadly accepted and legitimized.

Recorded on March 23, 2021.

Key Learnings: China already has a strong digital-first culture and will likely be able to pivot to crypto payments much faster than other places. Remittances seem to be the most important factor in the usage of crypto in Asia and elsewhere as it allows them to bypass high fees when sending money to friends and family in different jurisdictions.

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Market Froth, Anti-Bubbles, and the Consequences of Unparalleled Monetary Easing ( w/ Diego Parrilla ) Jun 01, 2021

Show notes

Real Vision Live Replay: Diego Parrilla, portfolio manager at Quadriga Asset Managers and the author of "The Anti-Bubbles," weighs in on the ongoing conversation around bubbles in this interview with Real Vision CEO and co-founder Raoul Pal. Parrilla goes in-depth on where he thinks markets are providing the most opportunity as well as where they're unveiling risks, and he breaks down his unique portfolio management style to navigate the current environment. He also considers whether monetary policy has reached its limits in the midst of unparalleled monetary easing from global central banks. Parrilla and Pal also will be answering questions from the audience.

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Gold, Active Management, and Macro Hedge Funds: The Alaska Permanent Fund's Unconventional Allocation May 30, 2021

Show notes

The Interview: The Alaska Permanent Fund is the $75 billion sovereign wealth fund of the state of Alaska, and since oil was discovered in Alaska in the 1970s, the APF has been receiving royalties and investing that capital on behalf of Alaskan citizens. Every year, it pays out a dividend—a form of UBI—to the citizens, who also do not pay any state income tax. In this interview with Sean Fieler, president and CIO of Equinox Partners, Marcus Frampton, CIO of the APF, explains his own unconventional views on investing and how he is bucking the trend in the large institutional investor space. Together, they discuss why Frampton has allocated the APF in gold, active management, and macro hedge funds while resisting the urge to chase private equity like many of his peers. They also discuss Frampton's personal investing style and why he is so attracted to micro-cap stocks and OTC markets.

Recorded on March 31, 2021.

Key Learnings: Institutional investors, who are the major forces in global markets, are largely driven by the actuarial projections of consultants and, with a few exceptions like Marcus Frampton and the APF, tend to cluster into similar portfolios and assets.

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Marko Papic: Generating Geopolitical Alpha ( w/ Mike Green ) May 29, 2021

Show notes

The Interview: Marko Papic, partner and chief strategist at Clocktower Group, joins Michael Green to discuss how and why geopolitics will have major effects on markets in the coming years with a particular focus on U.S.-China relations. They discuss everything from Taiwan and the issue of semiconductor supply chains to other actors like Russia as well as the merits and faults of Cold War analogies. They also touch on what Papic calls "the most important macro chart of this cycle" and the domestic issue of income inequality and the resulting policy outcomes. Finally, Green and Papic help viewers understand the magnitude of the green energy initiatives and what Papic believes are the best and worst ways to gain exposure to this megatrend.

Recorded on March 31, 2021.

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