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Tag: interest rates

Pessimism’s Return, Trump 2.0 Opportunities, With Phil Pecsok, Anacapa Advisors (Szn, 7, Epsd 4)Podcast episode cover art featuring Phil Pecsok

Pessimism’s Return, Trump 2.0 Opportunities, With Phil Pecsok, Anacapa Advisors (Szn, 7, Epsd 4)

Published March 4, 2025

Phil Pecsok of Anacapa Advisors rejoins the podcast to discuss the return of pessimism to the market and the economic and market repercussions of Trump’s various policies.

This podcast episode was recorded in two segments, the second on Feb. 24 with the express purpose of discussing with the then-nascent sell-off and Nvidia (NVDA) earnings. More information is available here.

This podcast deviates from the usual format by including the guest’s first-hand account of the LA wildfires. This admittedly has only limited relation to investing, but was kept mostly intact for human interest reasons. Listeners can skip past these segments, identified below.

  • Walmart (WMT) earnings ushered in a fresh round of selling in stocks that has yet to reverse (1:05)
  • The concerns raised by Walmart earnings are legitimate, but stocks should still rise this year (5:02);
  • The guest, a resident of the Pacific Palisades, recounts his harrowing experience with the LA fires (11:25);
  • Economic repercussions of the fires (14:32);
  • Trump will ultimately be good for the economy and for markets. Fade any Trump-generated market panic (27:51);
  • Why you shouldn’t buy defense contractor stocks yet (37:18);
  • The outlook for inflation is not great. This will likely keep the Fed from cutting rates (41:52).

For more on the guest and his firm, visit the website AnacapaAdvisors.com.

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The Looming Iceberg Ahead of the US Economy (Szn 7, Epsd 1)

Published January 28, 2025

Les Rubin, Main Street Economics

Les Rubin of Main Street Economics joins the podcast to discuss his chief concern facing not just markets and economies, but the world at large: US sovereign debt.

This podcast episode was recorded on Wednesday, Jan. 22, 2025 and released to premium subscribers the same day. Information on premium subscriptions, including the vast benefits, are available on our Substack.

Content Highlights

  • The US economy is headed to ‘serious problems’ and the guest’s mission is to educate people to the gravity of the situation (1:47);
  • Debt and fiscal deficits are nothing for the US. But its debt/GDP ratios is reaching a breaking point (2:57);
  • How soon might the breaking point arrive? (5:30);
  • Is there anything from the new Trump administration that might turn the tide? Elon Musk’s DOGE program has promise… (11:02);
  • What about tariffs? (16:22);
  • Background on the guest (20:36);
  • The need for more education: not just financial literacy, but economics (23:55).

More Information on the Guest

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Opportunities in Closed-End Municipal Bond Funds (Szn 6, Epsd 21)Podcast episode cover art featuring Jonathan Browne, RiverNorth Capital

Opportunities in Closed-End Municipal Bond Funds (Szn 6, Epsd 21)

Published November 21, 2024

With Jonathan Browne, RiverNorth Capital

Jonathan Browne, portfolio manager at RiverNorth Capital, joins the podcast to discuss investment opportunities in municipal bonds, specifically through the closed-end fund structure.

Content Highlights

  • Quick primer on closed-end funds and their difference with mutual funds and ETFs (1:18);
  • Municipal bonds and what to look for there (16:01);
  • What kind of yield can investors expect from this asset class? (23:31);
  • Background on the guest (26:50);
  • Rising interest rates and inflation are certainly a risk for muni bonds, but the risk/reward is set up constructively… (30:59);
  • Muni closed-end funds: a contrarian pick (37:28).

For more on the guest, visit the website RiverNorth.com

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