Welcome to Macro Voices - Results from #90

About Erik Townsend

hedge fund manager Erik Townsend

Erik Townsend is a retired software entrepreneur turned hedge fund manager. Throughout his career, Erik has capitalized on his ability to understand complex systems and anticipate paradigm shifts far in advance of the mainstream. Read More...

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Erik Townsend and Patrick Ceresna welcome Alex Gurevich to MacroVoices. Erik and Alex discuss:

  • Perspectives on the latest FOMC meeting
  • Treasury market - is it time to go long?
  • Next FOMC meeting forecast
  • Short term and long term views on Gold - is it time to buy?
  • Outlook on US dollar
  • Christine Lagarde and ECB - what's next for Euro currency
  • Outlook on global and US equity markets
  • Perspectives on the Chinese credit expansion

Download the podcast transcript: [Click Here]

We strongly recommend that you download the chart book that accompanies this episode, as Erik and Patrick will refer to it throughout postgame. If you are already registered at nanjingbb.com, just login and the download link will appear here once you're logged in. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the 德扑之星app下载home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

Click here to register for access to supporting materials.

The video is intended for ADVANCED investors, and explains how to use the "Long-Short Equity" hedge fund strategy to achieve superior investment returns in your own account.


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All-Star Brent Johnson and Erik discuss:

  • Why Brent was able to see new highs coming for stocks, despite his own reservations about the economy
  • Why Brent expects Christine Lagarde to make a big splash when she takes office as the new ECB chief
  • Gold market update, including why Brent still thinks a deeper correction is coming before Gold moves to new all time highs

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Erik Townsend and Patrick Ceresna welcome Diego Parrilla to MacroVoices. Erik and Diego discuss:

  • Contrarian investment thesis – the energy world is flat vs. the anti-bubbles
  • Concept of Anti-Bubble
  • Monetary Policies without limits, what’s next?
  • Term premia, credit risk, equity risk and liquidity premia
  • Limits of negative rates
  • Gold, treasuries and insurance
  • Balanced portfolios and portfolio construction

Download the podcast transcript: [Click Here]

 

We strongly recommend that you download the chart book that accompanies this episode, as Erik and Diego will refer to it throughout the interview. If you are already registered at nanjingbb.com, just login and the download link will appear here once you're logged in. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the 德扑之星app下载home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

Click here to register for access to supporting materials.

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All-Star Prof. Steve Keen and Erik discuss:

  • Changing of t Guard: Populism on the rise globally and what it means
  • Brexit: Will it happen and what does it mean for markets?

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All-Star Jeff Snider and Erik discuss:

  • Why “base money” really isn’t base money
  • Fed announcements in perspective
  • What’s really missing: The dealers who used to supply global dollar liquidity

Supporting Materials for Download

What Is Money? Misplaced Focus on Bank Reserves & the Fed 

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Erik Townsend and Patrick Ceresna welcome Stephanie Pomboy to MacroVoices. Erik and Stephanie discuss:

  • Late economic cycle – what’s next?
  • Perspective on the expansion of the FED’s balance sheet
  • Significance of the recent liquidity shock
  • Discretionary spending, revolving credit and retail sales
  • Inventories to sales ratio, outlook on profits
  • Divergence between corporate profits and S&P
  • Outlook for the 4th Quarter 
  • Perspectives on MMT
  • Is it finally time to short junk bond market?
  • Outlook on Gold

 We strongly recommend that you download the chart book that accompanies this episode, as Erik and Stephanie will refer to it throughout the interview. If you are already registered at nanjingbb.com, just login and the download link will appear here once you're logged in. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the 德扑之星app下载home page, and register. Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

Download the podcast transcript: [ Click Here ]

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SPECIAL POST GAME GUEST- Rick Rule

Strategies for participating in gold equities bull market

Click here to register for access to supporting materials.

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All-Star Julian Brigden and Erik discuss:

  • Julian weighs in on Saudi oil infrastructure attacks and the rise of geopolitical risk generally
  • Chinese monetary policy: Is it as important now as it was in 2016?
  • Understanding why the Fed is discouraging investors from thinking of Friday’s treasury buying announcement as “QE”

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All-Star Luke Gromen and Erik discuss:

  • Why the narrative just failed and what it means
  • Translating narrative failure to portfolio positioning: Who wins and who loses?
  • Reconciling Luke’s narrative failure thesis with the treasury bid evidenced by low yields

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All-Star Louis-Vincent Gave and Erik discuss:

  • Global markets have been rangebound for well over a year
  • Equity and Gold outlooks
  • Hong Kong update

MACRO VOICES is presented for informational and entertainment purposes only. The information presented in MACRO VOICES should NOT be construed as investment advice. Always consult a licensed investment professional before making important investment decisions. The opinions expressed on MACRO VOICES are those of the participants. MACRO VOICES, its producers, and hosts Erik Townsend and Patrick Ceresna shall NOT be liable for losses resulting from investment decisions based on information or viewpoints presented on MACRO VOICES.

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