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Tag: recession

The Specter of Stagflation Still Looms (Szn 6, Epsd 8)

With Ayesha Tariq, Macro Visor

Ayesha Tariq, founder of Macro Visor, rejoins the podcast to discuss her views on the economy, markets, and where investors should look for opportunities.

This episode was recorded on Tuesday, May 7 and made available to premium subscribers that same day. Become a premium subscriber.

  • The macro set-up and why people are talking about stagflation (1:56);
  • The K-shaped economy and the damage being done (3:31);
  • Fed Chair Jerome Powell claims there’s no stag and no flation. Is he wrong? (It wouldn’t be the first time) (8:50);
  • Faced with this backdrop, what does one do as an investor? (13:03);
  • China: There are still reasons to worry, even though the bleeding from the property market has abated a bit… (15:58);
  • India: long term growth story. Also copper, oil, and Japan (17:11);
  • The guest’s favorite areas for opportunity right now: UK and India (21:07);
  • A long-term concern is the fiscal situation in the US (22:00).

For more about the guest, visit her firm’s website MacroVisor.com or follow her on Twitter/X

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Lessons From Financial History (Szn 6, Epsd 4)

With Mark Higgins, Author, ‘Investing in Financial History’

Mark Higgins, author of the new book, Investing in Financial History, joins the podcast to discuss lessons from the past and what period is the most appropriate point of comparison to today’s market environment.

Content Highlights

  • What period from the past compares closest to the one we’re living through now? It’s a combination of several… (1:56);
  • The last time the US — and Federal Reserve — battled serious inflation was from 1965 to the early 1980s. Here there are several parallels to today’s age… (4:36);
  • The Fed appeared to turn more accommodative in December and January. This may have been a mistake (9:04);
  • Financial history is very much a history of panics, but there has not been a major bank run in the US since the Great Depression (11:51);
  • Portfolios have become increasingly complex without proper consideration of cost — and risks (15:40);
  • Decentralized currencies aren’t new and in fact once characterized the US dollar — and for the same reason (fear of central banks and fiat currency, etc). That didn’t end well… (18:06);
  • Background on the guest and how he came to write the book (22:05);
  • Bubbles and their challenges. Some commonalities include the media as trailing indicator… (27:17);
  • The 180 degree turn on public debt by US public officials (29:36);
  • The US dollar will likely be replaced as global reserve currency one day (33:25).

More About the Guest

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Time to Get Defensive, Avoid ‘Magnificent 7’ Tech Stocks (Szn 6, Episode 3)

Ted Oakley, founder of Austin, Tex.-based Oxbow Advisors, joins the podcast to discuss his views on markets and the economy and why this is a time to get defensive with one’s portfolio.

Content Highlights

  • The stock market highs for the year will be set during the first quarter (1:47);
  • “There are things that people don’t see” (or at least don’t publicize) that are pointing to a slowdown in the economy (3:08);
  • One of these is the US consumer, who is now borrowing to finance purchases (4:59);
  • Another is commercial real estate, which is just starting to rear its head… (6:05);
  • Interest rate cuts from the Federal Reserve may be further away than realized due to inflation risks (8:22);
  • Oxbow has been invested in ‘Magnificent 7’ stocks Microsoft (MSFT), Google (GOOG), and Apple (AAPL) for some time, but has been trimming these holdings and is certainly not looking to add more. But certain defensive sectors got cheap recently… (10:48);
  • Background on the guest (23:07);
  • What previous period in investment history is today’s market most reminiscent of? Bulls will not like this answer… (29:32).

More on the Guest

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