Jeremy Cordon joins the podcast to discuss his Goldback creation. These gold-imbued currency notes are worth upwards of 1/1000 a troy ounce and are already circulating (and being used) for point-of-sale transactions.
Leave a CommentCategory: Season 4
Bob Elliott, chief investment officer of Unlimited Funds, joins the podcast to discuss his views on the Federal Reserve, inflation, the midterm elections, and why stocks have entered a long ‘slog’ for the foreseeable future.
Content Highlights
- Investors have been conditioned for recessions to feature a fast decline in equity markets followed by a rapid recovery. This time around those dynamics are different (3:44);
- There is no chance of a ‘Fed pivot’ coming anytime soon (7:58);
- What about infighting at the Fed and within the FOMC? (11:03);
- Yes, you need unemployment to increase for there to be any progress with inflation. Higher prices are no longer due to supply chain issues (13:57);
- The Fed will raise either 50bps or 75bps at its next meeting and rates could easily go up to 6% (21:22);
- Background on the guest and his ETF, the Unlimited HFND Multi Strategy Return Tracker ETF. Stock ticker: HFND (26:19);
- The growing disconnect between hedge fund positioning and retail investors: Hedge funds are short bonds, long commodities, bullish gold, and are sitting on a bunch of cash… (36:21);
- The Fed’s target rate for inflation is 2%, but that could change. That would bring a myriad of issues… (38:24);
- It’s hard to get bullish about longterm bonds: right now and for the foreseeable future (40:54);
- Investors continue to look for reasons that the economy is slowing and the Fed needs to reverse course. There is virtually no evidence of this happening (42:44);
- The midterm elections are likely to lead to a split government. This brings tail risks that few people are talking about (44:50).
More Information About Bob Elliott
- Website: UnlimitedFunds.com;
- Twitter: @BobEUnlimited;
Quick Video Highlights From Our YouTube Channel
Leave a CommentJason Shapiro joins the podcast to discuss his trading strategy, based on the simple premise that most investors are wrong most of the time. This approach requires trades to be crowded, which is decidedly (and surprisingly) not the case right now — with two possible exceptions.
Content Highlights
- Most traders lose money. Shapiro seeks to capture these losses by going against the crowd (3:11);
- He does this by monitoring the Commitment of Traders report for extreme positioning, which he then fades (4:03);
- The thinking behind this? The crowd is wrong. “It’s really that simple.” The discounting method is not price but positioning (6:11);
- Shapiro monitors 37 different futures markets. Two examples of where this approach worked in the past (7:03);
- Right now “I’m seeing some pretty scary stuff, because you don’t have anybody crowded” in major asset classes (8:24);
- One possible exception: lumber (11:08);
- Background on the guest (16:35);
- Patience is a virtue, especially for contrarians (27:28);
- “I have contrarian views on everything…that’s how I develop my opinion.” People are wrong because they want others to guide them (31:00);
- The set-up in cryptos is “massively dangerous” based on positioning in Bitcoin futures. This sets Bitcoin and cryptos up for a major drop… (36:36).
(On this last point, Shapiro shared the following chart)
For More About Jason Shapiro
- Website: CrowdedMarketReport.com;
- Twitter: @Crowded_Mkt_Rpt;
- LinkedIn: CMR-Publishing.