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Category: Season 1

Season 1, Episode 23: Andrew Redleaf on Today’s Low-Rate, Low-Growth, Restricted-Access-to-Capital World

Published November 12, 2019

Andrew Redleaf is best known as the founder of Whitebox Advisors, a hedge fund that at its peak managed $6 billion. He joins the podcast to discuss his thesis that the world is increasingly bifurcated between those who have access to cheap capital and those who do not.

Content:
The contrarian take on low interest rates (2:33). Who has access to capital (5:16)? Small banks an outlier (7:28). The macro outlook (9:02). Andrew’s “origin story” (12:10). Cultural elements of financial markets (19:11). Biggest concerns facing markets and best ideas (23:20).

Not intended as investment advice.

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Season 1, Episode 22: The Dangers of Interest Rate Volatility Risk, With Nancy Davis of Quadratic Capital

Published October 28, 2019

Nancy Davis of Quadratic Capital joins the podcast to discuss the danger of interest rate volatility risk.

The market is at “peak confidence of central banks being able to control markets” (2:27), as evidenced by the historic low in all gauges of interest rate volatility (5:36). The risks of stagflation (8:37) and a trade war with Europe (10:16) are similarly discounted. 

Background on Nancy (14:39), further information on her fund (17:23), why gold is an ineffective inflation hedge (22:05).

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Season 1, Episode 21: Peter Borish on Economic Cycles, the Case for Active Investment Management

Published October 16, 2019

Peter Borish is a founding partner at Tudor Investment Corp and current chief strategist at Quad Group. In his long career on Wall Street, Borish has seen multiple market cycles and met with and allocated to many hedge fund managers. He shares his wisdom with listeners.

Content:
The need for active management in today’s market (6:23). A contrarian view on ego (8:35). State of the economic cycle and deflationary pressures (10:29), political realities (14:26), concepts to keep in mind for the long run (16:31). What to look for in an investment adviser and hedge fund manager (20:46). The current state of hedge fund talent (22:57). Areas for concern in the macro picture (26:45) and possible inflection points (29:18).

Not intended as investment advice.

More information on Peter Borish and Quad Group: www.quadgroup.com

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