The FarrCast : Wealth Strategies

Latest Episodes:

Blue Meat for the Base Apr 22, 2021

Show notes

The FarrCast this week comes to you recorded as news was leaked about the new Biden capital gains tax proposal. Kenny Polcari joins Michael Farr to parse the market (over-) reaction. Kenny says he doesn't think it's the beginning of a correction, but if there is anything markets hate -- it's uncertainty.
Dan Mahaffee gives his insight into the political strategy involved, and the (low) chances of passage. As a matter of policy, the actual revenue predicted to be raised by the increase is little more than a rounding error.

Michael welcomes Sarat Sethi for the special guest segment. Sarat is one of the smartest, and most successful, investors on Wall Street, and he and Michael discuss where to find value in a market that is, by many measures, already expensive. Sarat also shares his insight into how to prepare for the possibility of inflation, when the inflationary pressures are far different than what we may have seen in the past.
Always going beyond the headlines -- it's The FarrCast. Wall Street, Washington, and The World.

The Usual Uncertainties Apr 15, 2021

Show notes

Every time is different -- but the economic landscape is looking more familiar and the uncertainties more recognizable. But that doesn't mean investors can become complacent!
This week, Michael Farr is joined by Jim Lebenthal to talk about the beginning of earnings season and Jim says that the bank earnings have broad implications beyond those stocks. There are plenty of long term concerns to watch -- but nothing approaching crisis level (yet.)
Political analyst Dan Mahaffee joins to talk about the wheeling and dealing in the Senate as well as geo-political tensions, all of which have significance in the economic & investing world.
For our special guest, Michael welcomes Jenny Harrington, CEO of Gilman Hill Asset Management and CNBC contributor. Jenny dives in to some of the implications of the earnings that Jim brought up, and says there is plenty of room to make money in different places in the markets, but you have to have the investment discipline to separate the story from the numbers -- and the emotional discipline to follow through.
It's a great new FarrCast bringing you insight from Wall Street, Washington, and The World!

Moments for Miscalculation Apr 09, 2021

Show notes

The headlines may have cooled off in recent weeks, but there are mountains of stories impacting Wall Street, Washington, and the World -- and The FarrCast is here to help you sort it out.
Michael Farr begins welcoming investor, manager, former floor specialist, and all around nice guy Kenny Polcari for his take on the market. Kenny is optimistic, but admits we've already had a good year, and perhaps this is where the markets finish at Christmas. Our political analyst Dan Mahaffee joins for an update on infrastructure and the what the Chinese digital currency means for investors, and for geo politics.
Our special guest this week is a FarrCast fan favorite, Lester Munson, former Chief of Staff of the Senate Foreign Relations Committee. Les discusses foreign aid in Central America, Russian sabre rattling in Ukraine, Chinese ambition in the South China Sea, and why Iran wants everyone to think they want a nuclear weapon -- but they really don't. All of the geo-politics bubbling beneath the surface have economic and investing implications, and The FarrCast has the experts and insiders to bring you the knowledge you need.
Listen today and share with a friend!

Bottoms Are Events -- Tops Are Processes Apr 01, 2021

Show notes

The first quarter of 2021 is complete and The FarrCast is with you to help you navigate what's next.

Michael Farr is joined by Jim Iuorio for a look at the markets. Jim sees the distortions of inflation in the markets, and says that markets are the place to be. The market action of the last couple of days indicates a significant turn to Jim, and he shares what indicators he's looking for, for confirmation.
Our political analyst, Dan Mahaffee joins for a discussion of the new approach to China and why the competition matters in so many areas of commerce and government. Dan also shares some of the particulars of the infrastructure plan, and an idea of what the final bill will look like.
In our special guest segment, Michael welcomes Doug Kass of Seabreeze Partners. Doug is one of Wall Street's most successful investor, and even as hedge funds seem to be losing their allure, Doug explains why he's starting a new hedge fund, what kinds of strategies he employs, and where he sees opportunities among the threats.
Bringing you experts and insiders from Wall Street, Washington, and The World -- it's The FarrCast!

The Most Difficult Thing Is to Make the Turn Mar 26, 2021

Show notes

On this week's FarrCast, we come to you with a slightly different format -- Michael Farr is joined for an extended discussion by both Jim Lebenthal and Steve Weiss from CNBC. Though they have differing strategies, they see the markets in much the same way. Michael, Steve, and Jim have a lively discussion with some arguments, more agreements, and lots to learn.

We close the show with an in depth discussion with Dan Mahaffee on the current state in DC and how it may impact the economic landscape. Dan says he doesn't expect tech legislation -- it's hard to legislate on nothing but common dislike.

It's the FarrCast -- Wall Street, Washington, and The World!

Maybe We're Going to Overdo It Mar 18, 2021

Show notes

It's the day after St. Patrick's Day and the day after Fed Chair Powell says inflation isn't a problem. The FarrCast is here to discuss what happens if maybe we overdo the stimulus a bit -- for overdoing the Guinness & Jameson, you're on your own.
First up is Jim Lebenthal from CNBC and Cerity Partners to talk with Michael Farr on what sees in tech, travel, and the other sectors in the markets as we digest the inevitable higher rates of the reopening. Dan Mahaffee discusses DC and the new trade representative, Katherine Tai; everyone in Washington is a fan (she passed her confirmation 98-0) but Beijing is leery of the new counter party to negotiations. And as Michael and Dan discuss, the issues facing Sino-US trade are complex.
For our third segment, Michael welcomes long term Washington observer Greg Valliere of AGF Investments. Greg expects another big bill to come from Congress this year, and inflation to rise with employment.
It's an information-rich FarrCast this week with experts and insiders that you want to hear. The FarrCast: Wall Street, Washington, and The World!

Ride the Wave Mar 11, 2021

Show notes

The markets have been choppy, but The FarrCast here is to dive in and help keep your head above water! Michael Farr is joined by Kenny Polcari for a discussion of the markets, and Kenny says the rotation was to be expected as interest rates rise. While the markets were a little spooked by how fast yields rose, they look to be a little more stable now, and Kenny is constructive looking ahead.

In DC it may be warming up outside, but the rhetorical temperature has cooled off. Political analyst Dan Mahaffee tells us though it doesn't mean there is nothing of importance going on. He parses through the $1.9tn stimulus package, and some of the big promises it makes.
For our special guest segment, we turn to Heather Long of The Washington Post. Heather is one of the smartest people in the economics world, and has written on the distortions in the pandemic economy. The stimulus bill addresses some of the problems she sees, and while we are far from out of the storm, she is less worried than she was.
Always bringing you experts and insiders, it's The FarrCast: Wall Street, Washington, and The World.

Sailing Closer to the Falls Mar 08, 2021

Show notes

This week on The FarrCast, Michael Farr's special guest is Dr. Jay Bryson, Chief Economist from Wells Fargo. He says that for all of the instability of the economy, the outlook is constructive. The Fed and the Treasury have gone big in their solutions, and thus far, going big has worked.
Opening the show, Michael welcomes Jim Iuorio from the floor of the CBOE. From the floor, Jim has a similar outlook to Dr. Bryson in the research halls and boardrooms -- constructive, but wary of threats.

Our regular political analyst, Dan Mahaffee, joins us for his segment on the developments in Washington, including vote-a-rama 2 coming soon!
It's The FarrCast: Wall Street, Washington, and The World!

Exceeding Expectations Feb 25, 2021

Show notes

This week's episode of The FarrCast opens with Michael Farr talking markets with Kenny Polcari. All of the data is beating expectations, but Kenny reminds us that long term investing isn't haphazard: you can't just buy everything. Michael welcomes Dan Mahaffee for a quick spin through Washington and the policy, and political, arguments that matter. Finally, special guest Stephanie Link joins, and she and Michael have a spirted discussion about investing through the remainder of the year. A diversified portfolio is always important, but Stephanie believes the current rotation is more than just a head fake this time.
It's The FarrCast! Wall Street, Washington, and The World.

Former Fed Pres Sees 2-3% Ten Year On the Horizon Feb 18, 2021

Show notes

On this week's FarrCast, Michael Farr has an extended discussion with Dr. Jeff Lacker, former President of the Richmond Fed, about the state of debt, the monetary experiment, and what it means for the economy, and markets, moving forward. Dr. Lacker says rates are hard to predict, but 2-3% on the ten-year by the end of the year "isn't out of the ballpark." He gives a clear, plain-spoken explanation of some of the forces at work and while Jeff is skeptical about the current path of monetary policy, maintains disaster is not inevitable.
But first, Michael welcomes Jim Lebenthal, and they talk markets -- and how rising rates impacts value -- and Dan Mahaffee discusses the political wrangling over the debt, and why no one on Capitol Hill is too concerned right now.
For a deeper understanding of the forces shaping Wall Street, Washington, and The World -- listen to The FarrCast!