WTFinance

Interview recorded - 5th of January, 2024

On this episode of the WTFinance podcast I had the pleasure of welcoming back Henrick Zeberg for the first interview of the year! Henrik is a Macro Economist, the Founder and Publisher of the Zeberg Report.

During our conversation we spoke about Henrik's Outlook for 2024, why stock market will continue to rip until April this year, the impending recession similar to 2008, what assets will benefit during recession and stagflation afterwards and more. I hope you enjoy!

0:00 - Introduction
3:28 - Henrik's Outlook for 2024?
5:13 - The Business Cycle
8:50 - Disconnect between Economic Indicators?
12:48 - Henrik’s 2024 Timeline
15:11 - Supply Chain Shock?
18:43 - US Fiscal Capacity?
22:58 - Risk-On Assets
25:28 - What would influence Henrik to shift from bullish to bearish?
26:43 - Repeat of 2008
31:03 - Back to easy money after recession?
32:18 - Positions after top?
35:53 - One message to takeaway from conversation?

Henrik Zeberg is a Macroeconomist (M.Sc. Econ) from the University of Copenhagen. He is a Business Cycles student, Elliott Wave practitioner, and Chartist. You can find out more about his newsletter on his Website.

Henrik Zeberg -

Newsletter - https://www.thezebergreport.com/
Twitter - https://twitter.com/HenrikZeberg

WTFinance -

Instagram - https://www.instagram.com/wtfinancee/
Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfn
iTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4
Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 19th of December, 2023

This week I had the pleasure of welcoming back David Hay - Co-Chief Investment Officer of Evergreen Gavekal.

During our conversation we talked about the David's current thoughts on markets, whether we are in a new bull market or bear rally, assets David is currently watching and more. I hope you enjoy!

0:00 - Introduction
0:45 - Current thoughts on markets
3:05 - Preventing Trump returning to power?
6:20 - FED providing maximum optionality?
9:20 - Consensus skewed to bullish side
11:10 - Do we understand the impact QT has on markets?
14:05 - Long End of Bond Market to help FED?
15:15 - New bull market or bear rally?
19:20 - Opportunities in small caps?
24:47 - Case for Strong US Economy?
27:00 - What attracted David to Emerging Markets Debt?
29:20 - What else is David watching?
33:05 - Industries that are out of love
36:37 - One message to takeaway from our conversation?

David Hay acquired the majority interest in Evergreen Gavekal (at the time, Evergreen Capital Management) in 2002. He continues to serve his long-time clients and acts as Co-Chief Investment Officer with special emphasis in macro-economic research.

David has been employed in the securities industry since 1979 when he joined Dean Witter Reynolds, now Morgan Stanley. He rose to the position of Senior Vice President in 1983. In 1985 he was the youngest member to be elected to Dean Witter’s elite Chairman’s Council. David and his team joined Smith Barney in 1990 and were instrumental in establishing the Portfolio Advisory Program. Fulfilling the positions of Senior Vice President, Senior Portfolio Manager and Director, David also served on the Smith Barney Directors Advisory Group, gaining valuable experience in merger integration and client service enhancement.

In 2022, David released his highly anticipated book, Bubble 3.0: Who blew it and how to protect yourself when it blows apart. The book explores why he believes the financial markets are headed toward a third iteration of past market rotations. Accordingly, he believes there are a number of investment areas/asset classes poised to benefit from what he has begun referring to as “The New World Disorder”.

David currently spends the winter months in Indian Wells, Ca., with his wife, Mindy, and two dogs, Nova and Roscoe. In early June, they will be moving into their new home in Liberty Lake, Wash.

David Hay Interviews -

Haymaker as Host interview: https://www.youtube.com/watch?v=EnDy6SGoG00

MicroNuclear explanatory video: https://www.youtube.com/watch?v=Fb2Op0mWlUw

David Hay -

Twitter - https://twitter.com/Haymaker_0
Website - https://evergreengavekal.com/
Substack - https://haymaker.substack.com/

WTFinance -

Instagram - https://www.instagram.com/wtfinancee/
Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfn
iTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4
Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 15th of December, 2023

On this episode of the WTFinance podcast I had the pleasure of welcoming back Grant Williams for a third time!.

During our conversation we spoke about what Grant is seeing in markets, whether the FED are hedging their bets, have they vanquished inflation, what is happening with gold, the everything bubble, politics and more. Hope you enjoy!

0:00 - Introduction
0:23 - Grants opinion on Macro?
2:32 - FED Hedging bets?
4:35 - Strong conviction until you don’t
5:42 - Investors shaped by good times
7:50 - FED reaction time has reduced
8:40 - risk they could lose more credibility?
12:20 - Became well know after going off Gold Standard
14:55 - Inflation
16:50 - Similarities to Greenspan cutting in 1990’s?
19:20 - What is Grant seeing with Gold?
23:19 - Investors diversifying with gold?
24:30 - risk of consensus?
26:55 - How does Grant look at risk?
31:04 - All assets are going up
32:10 - Trump vs Biden in 2024?
36:26 - More controversary & polarisation around the world
38:25 - Inflation amplifying issues since 2008
41:50 - Social unrest in the 70’s?
42:30 - How will wealth be diverted?
45:50 - Taxing unrealised gains
48:41 - One message to takeaway from our conversation?

Grant Williams, much to his dismay, has logged over 35 years in finance. During that time, he’s lived and worked in seven major financial centres from London to Sydney, building the kind of network that many others can only dream about.

He began his career in the Japanese equity market in the mid-1980s, before a three-year posting to Tokyo ensured he had a ringside seat as the twin bubbles in equities and real estate burst simultaneously and spectacularly at the end of 1989. After a short stint back in London, Grant relocated once again, this time to New York, where he spent 7 years. Subsequent postings have taken him to Hong Kong, Sydney, Singapore, and the Cayman Islands.

Currently, he is a senior advisor to Matterhorn Asset Management AG https://goldswitzerland.com/ in Switzerland, and a portfolio and strategy advisor to Vulpes Investment Management https://www.vulpesinvest.com/ in Singapore.

Back in 2014, Grant’s ambition to bring the most intelligent, engaging, and original people in finance to a wider audience led him to co-found Real Vision https://www.realvision.com/, an on-demand internet-based financial media platform.

Grant’s twin Real Vision interview series, 'In Conversation With…' and 'On The Road' raised the bar for financial content – engaging and educating viewers in equal measure and helping them learn the secrets behind a group of extraordinary investors’ success.

Long before Real Vision, however, Grant was guiding people around the fringes of finance with his regular newsletter, Things That Make You Go Hmmm… https://www.grant-williams.com/ttmygh_newsletters/, a publication which, from humble beginnings as a daily note to a few friends and colleagues, has grown into one of the most widely-read financial publications in the world.

Grant Williams -

Website - https://www.grant-williams.com/
Twitter - https://twitter.com/ttmygh

WTFinance -

Instagram - https://www.instagram.com/wtfinancee/
Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfn
TikTok - https://vm.tiktok.com/ZMeUjj9xV/
iTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4
Linkedin - https://www.linkedin.com/in/anthony-fatseas-761066103/
Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 11th of December, 2023

On this episode of the WTFinance podcast I had the pleasure of welcoming on George Robertson - a veteran of the Fixed Income industry with over 40 years of experience and a very unique view on the FED.

During our conversation we spoke about why the FED does not exist, how the economy is currently handling high interest rates, the narrative is all the FED control, what this means for assets and more. I hope you enjoy!

0:00 - Introduction
2:13 - Why does the FED not exist?
21:23 - Why is the economy handling interest rate increases?
24:56 - Issues with repo market in 2019?
28:58 - The narrative is all the FED controls
36:23 - Are the media really supporting the FED?
43:23 - What is an overshoot?
50:12 - Exuberance due to dovish FED?
53:13 - Peak exuberance then 2008 like crash
57:34 - One message to takeaway from our conversation?

George has worked in Fixed income, equity, Fed, vol, options for 40 years. This included for Solomon, Mulheren, Bass FO, Cargill as Portfolio Manager & CIO.

George Robertson -

X: https://twitter.com/BickerinBrattle
Substack: https://themonetaryfrontier.substack.com/
Video on Theory - https://t.co/7gFxd5g2Vh

WTFinance -

Instagram - https://www.instagram.com/wtfinancee/
Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfn
iTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4
Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 8th of December, 2023

On this episode of the WTFinance podcast I had the pleasure of welcoming on Peter Grandich - Founder of Peter Grandich & Company.

During our conversation we spoke about what Peter is seeing in the market, "Don't worry, Be Happy" bias in Wall Street, current issues globally, assets which Peter believes are undervalued, BRIC's and more. I hope you enjoy!

0:00 - Introduction
1:57 - What is Peter currently seeing in markets?
8:22 - “Don’t Worry, Be Happy” bias
9:22 - What is the current pension issue?
12:07 - Pensioners having to sell down their assets when they retire?
15:12 - Timeframe on stock market fall?
17:47 - Number one growth area is Crime
20:12 - Assets which will perform well in coming years?
25:32 - What type of metals will Peter be looking at?
26:22 - Who will be what BRICs produce?
28:02 - China growth story over?
30:27 - The world is more dangerous
31:52 - One message to takeaway from our conversation?

Peter Grandich entered Wall Street in the mid-1980s with neither formal education nor training, and within three years was appointed Head of Investment Strategy for a leading New York Stock Exchange-member firm. He would go on to hold positions as Chief Market Strategist, Portfolio Manager for four hedge funds and a mutual fund that bore his name. His abilities have resulted in hundreds of media interviews, including Good Morning America, Fox News, CNBC, Wall Street Journal, Barron’s, Financial Post, Globe and Mail, US News & World Report, New York Times, Business Week, MarketWatch, Business News Network and dozens more. He has spoken at investment conferences around the globe, edited numerous investment newsletters and was one of the more sought-after financial commentators.

His autobiography, Confessions of a Wall Street Whiz Kid, was first published in the fall of 2011. The second edition was released in 2014, while the third edition, Confessions of a Former Wall Street Whiz Kid, was issued in October 2015. The fourth edition of the book was later released in April 2019, and the fifth edition was issued in May 2021.

The fifth edition of the book is currently available on Amazon.com, but you can also read the book for free online. Read the book online.

Grandich was the editor and publisher of The Grandich Letter from 1984 to 2014. He was also Senior Commentator for Moneytalks.net from 2013 to 2015.

In 2013, Grandich founded the Athletes & Business Alliance (ABA), a private organization of professional athletes and business executives who exchange ideas and build relationships with an emphasis on capitalizing on the talents of all involved. A symbiotic organization, ABA is a network of accomplished individuals in an environment where one can develop personal associations with a structured and supportive system of giving and receiving business. The ABA boasts a select membership of diverse senior-level executives, high net worth business owners, and both active and retired pro athletes. By invitation only, high-level corporate and business decision-makers and prominent athletes intermingle. To achieve success, businesses must utilize effective marketing tools, secure new customers to generate repeat business and provide superior customer service that engenders loyalty. The ABA provides an environment to do this and more.

Peter Grandich currently resides in New Jersey with his wife, Mary, and they have one daughter, Tara.

Peter Grandich -

Website - https://petergrandich.com/
X - https://twitter.com/PeterGrandich
YouTube - @Peter-Grandich
Blog - https://petergrandich.com/blog-posts/

WTFinance -

Instagram - https://www.instagram.com/wtfinancee/
Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfn
iTunes - ht

Interview Recorded - 7th of December, 2023

On this episode of the WTFinance podcast we had the pleasure of speaking with Rafi Faber - the @endgameinvestor .

During our conversation we spoke about whether the FED have landed the plane, what is happening in repo markets, why banks aren't lending to each other, whether the FED can save the system again, why Gold is increasing and more. I hope you enjoy!

0:00 - Introduction
2:08 - Does Rafi agree with recent rhetoric that the FED have landed the plane?
4:05 - What are repo markets and why are they important?
7:30 - Banks having capital constraints?
9:53 - Realising bond losses?
12:02 - Can the FED save the world again?
14:09 - Secure overnight finance markets?
16:30 - Why is gold and precious metals increasing?
19:40 - Surprised banks are buying gold?
21:56 - Silver in a 90 year trend?
24:05 - One message to takeaway from our conversation?

Rafi Farber -

YouTube - @endgameinvestor
Seeking Alpha - https://seekingalpha.com/checkout?service_id=mp_1347
Patreon - https://www.patreon.com/endgameinvestor
Twitter - https://twitter.com/RafiFarber

WTFinance -

Instagram - https://www.instagram.com/wtfinancee/
Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfn
iTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4
Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 4th of December, 2023

On this episode of the WTFinance podcast I had the pleasure of speaking with Mario Innecco.

During our conversation we spoke about Mario's thoughts on the economy, why markets have held up, CPI is not real inflation, whether the economy is going into a recession and more. I hope you enjoy!

0:00 - Introduction
1:50 - What is Mario currently watching in the economy?
4:30 - Changed how GDP is measured
5:40 - Surprised how markets have held up?
7:26 - Not showing real inflation?
9:38 - Going into a recession?
13:15 - What assets is Mario focusing on?
15:20 - Why has gold gone up in price?
16:37 - Gold a safe haven again?
17:40 - Room for people to invest in assets?
19:00 - One message to takeaway from our conversation?

Mario has been running his YouTube channel maneco64 since November 2015.

His background is in financial markets and economics. He worked for over twenty years in the City of London and specialised in the exchange-traded derivatives market.​

Mario dealt for major financial institutions and corporate entities advising clients on the government bond market, interest rates, financial markets in general and the economy. ​He has also been an ardent student of the Austrian School of Economics.
​
Through his videos and also articles here on his blog he endeavours to inform the public about how the financial markets and our current fiat monetary system functions.

Mario Innecco -

YouTube - @maneco64
Twitter - https://twitter.com/maneco1964
LinkedIn - https://www.linkedin.com/in/mario-innecco-a329416b/?originalSubdomain=uk
Website - https://www.maneco64.net/

WTFinance -

Instagram - https://www.instagram.com/wtfinancee/
Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfn
iTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4
Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 27th of November, 2023

On this episode of the WTFinance podcast I had the pleasure of welcoming back Nick Glinsman - Co-Founder at Malmgren-Glinsman Partners.

During this conversation we spoke about Nick's current thoughts on the US markets/economy, why he believes the US will avoid recession in 2024, one-off investment buoying economic growth, what this means for bond markets,
the Japanese bond market and more. I hope you enjoy!

0:00 - Introduction
0:57 - What is Nick currently seeing in the US markets/economy?
15:35 - Economy will be strong for the next year
19:45 - Can the consumer really continue to be strong?
24:15 - Risk of a regular recession?
34:35 - Worlds biggest carry trade is the Japanese government
39:40 - Onshoring & AI booms one-off’s improving economic growth
41:45 - One message to takeaway from our conversation?

Nick Glinsman -

Research Website - https://d5d0c2-2.myshopify.com/
Twitter - https://twitter.com/nglinsman
LinkedIn - https://www.linkedin.com/in/nick-glinsman-75b53/?originalSubdomain=uk

WTFinance -

Instagram - https://www.instagram.com/wtfinancee/
Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfn
iTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4
Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 17th of November, 2023

On this episode of the WTFinance podcast I had the pleasure of speaking with Lawrence Lepard - Founder of Equity Management Associates and a sound money advocate.

During our conversation we spoke about Lawrence's current thoughts on the market, risk of everything bubble bursting, whether the FED can land the plane, geopolitical shifts, why something is going to break, Bitcoin and more! I hope you enjoy.

0:00 - Introduction
1:16 - What is happening in the markets?
6:17 - Has the FED landed the plane?
9:30 - Monetary inflation vs real inflation?
14:24 - Geopolitical shifts
14:58 - Commodity super cycle to crash
16:17 - Stock market doesn’t always go up
17:38 - Higher yields for longer?
21:03 - Dollar is better than other currencies
24:03 - Something is going to break soon
30:48 - Any other assets that will protect wealth during monetary debasement?
33:08 - Concern about Bitcoin correlation with the NASDAQ?
35:38 - Spot ETF a bad thing for Bitcoin?
38:08 - One message to takeaway from our conversation?

Larry founded Equity Management Associates, LLC (EMA) in 2006. EMA is an equity investment management firm that invests in growing private and public companies located around the world.

Since 2008, EMA has focused on investing in companies which mine the monetary metals, gold and silver. Larry presently serves on the Board of Directors of two development-stage gold mining companies: Lavras Gold Corp. (Toronto/Brazil) and Rise Gold Corp. (California). He has been a frequent guest of many media outlets including Bloomberg Television for his expertise on the monetary metals market. Prior to founding EMA, he spent 13 years at Geocapital Partners (Geo) in Fort Lee, NJ. There, he was one of two Managing General Partners and was responsible for four venture capital funds, aggregating ~$500 million. At Geo, he invested and/or served on the boards of many successful deals including Autoweb, Jackson Hewitt, Netcom, and Realtor.com.

Prior to Geo, Larry spent seven years at Summit Partners in Boston, MA and Newport Beach, CA, where he established Summit’s West Coast office. Larry was a General Partner in Summit I and Summit II and invested and/or served on the boards of Chips & Technologies and Software Spectrum, among other investments. Earlier in his career, Larry worked in the Mergers & Acquisitions Group of Smith Barney, Harris Upham & Co.

Lawrence Lepard -

Website - https://www.ema2.com/
Twitter - https://twitter.com/LawrenceLepard

WTFinance -

Instagram - https://www.instagram.com/wtfinancee/
Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfn
iTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4
Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 13th of November, 2023

On this episode of the WTFinance podcast I had the pleasure of welcoming back Michael Oliver - Founder of Momentum Structural Analysis.

During our conversation we spoke about Michael's thoughts about the markets, why there is continued stress, what is happening with bonds, what assets will perform and more!

0:00 - Introduction
0:49 - What is Michael currently seeing in markets?
8:42 - Largest companies holding up indexes. Will they remain stable?
17:01 - Has cutting rate/QE been good for equities?
19:02 - What happens when bond prices decrease?
24:07 - What will happen with bonds?
28:53 - One message to takeaway from our conversation?

J. Michael Oliver entered the financial services industry in 1975 on the Futures side, joining E.F. Hutton’s International Commodity Division, headquartered in New York City's Battery Park. He studied under David Johnston, head of Hutton’s Commodity Division and Chairman of the COMEX.

In the 1980s Mike began to develop his own momentum-based method of technical analysis. He learned early on that orthodox price chart technical analysis left many unanswered questions and too often deceived those who trusted in price chart breakouts, support/resistance, and so forth.

In 1987 Mike technically anticipated and caught the Crash. It was then that he decided to develop his structural momentum tools into a full analytic methodology.

In 1992 the Financial VP and head of Wachovia Bank's Trust Department asked Mike to provide soft dollar research to Wachovia. Within a year, Mike shifted from brokerage to full-time technical research. He is also the author of The New Libertarianism: Anarcho-Capitalism.

Michael Oliver -

Website - https://www.olivermsa.com/
Twitter - https://twitter.com/Oliver_MSA

WTFinance -

Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfn
iTunes -https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4
LinkedIn - https://www.linkedin.com/in/anthony-fatseas-761066103/
Twitter - https://twitter.com/AnthonyFatseas