The End Game

The End Game Ep 47 – The Two Mikes

Returning to The End Game as we begin the year with a bang are the brains behind Simplify, The Two Mikes, Green & Taylor who take turns picking apart just about ever facet of the financial and political spectrum. From the growth of passive investing and its potential impact on the market to the importance of […] This content is only available for active subscribers. Subscribe

Listen Now »

The End Game Ep 46 – James Aitken

Returning to The End Game is The Lord of the Dark Matter himself, James Aitken. Among the topics under discussion is the (under appreciated) potential for a normalization cycle by the Bank of Japan. James suggests the BOJ may attempt a policy rate normalization due to structural reforms and the need to revitalize the equity […]

This content is only available for active subscribers. Subscribe

Listen Now »

The End Game Ep 45 – Kris Sidial

Joining us for this episode of The End Game is Kris Sidial, Co-Chief Investment Officer of The Ambrus Group, a tail-risk manager specializing in volatility strategies. Kris and his team seek to offer investors tail-risk protection without the associated ‘bleed’ in premium during times of dampened volatility so, with September fast-approaching, we thought it was a perfect time to chat with him as markets prepare to wake from their traditional summer slumbers.

Kris’ thoughts about what to expect as we move towards the back end of 2023 are incredibly interesting, with his expected scenario for the rest of this year having the potential to create quite the stir in markets lulled to sleep by the constant downward pressure on vol over recent years.

Buckle up, folks!

This content is only available for active subscribers. Subscribe

Listen Now »

The End Game Ep 44 – Mike Green

Returning to the End Game for a long-overdue catch-up is the brilliant Mike Green of Simplify Asset management, who brings us up to date on the effect passive investing is having on asset markets and how they are skewing things in ways yet-to-be fully understood by the vast majority of market participants.

Mike offers his thoughts on the blunders made by the Federal Reserve, the odds that the market may hit a dangerous air pocket and the state of the US economy and does so with his customary verve.

This conversation was recorded the day before last week’s debt ceiling resolution.

This content is only available for active subscribers. Subscribe

Listen Now »

The End Game Ep 43 – Steve Eisman

Bill and Grant return for a no-holds-barred conversation with the great Steve Eisman of The Eisman Group within Neuberger Berman. Steve is no stranger, thanks both to his exploits during the GFC and the stupendous portrayal OF those exploits by Steve Carell in the movie version of Michael Lewis’ wonderful book, The Big Short.

Steve explains the history of paradigm shifts and tells us why he feels we are at the point of another major change, not only in the investment landscape but also in broader society.

The recent meltdown in the mid-size banking sector comes under the microscope, as do Fed policy, lofty valuations, a likely return to a more familiar investment world, the tech reckoning and the purveyor of a certain set of ETFs focused on ‘exponential growth’ stocks.

Fun for all the family!

This content is only available for active subscribers. Subscribe

Listen Now »

The End Game Ep 42 – Michael Kao

With the financial world in turmoil once again and The End Game seemingly under way, we welcome Michael Kao back to the podcast to share his thinking around what the recent events in the banking sector (and the response of regulators) portends for the future.

Michael explains how he views the Fed’s toolkit and what he feels they’re likely to do with the ever-decreasing options at their disposal, what this latest fiasco means for the rest of the global banking fraternity and the US dollar as well as the likely knock-on effects for China.

This is yet another fascinating step on our journey to uncover The End Game.

This content is only available for active subscribers. Subscribe

Listen Now »

The End Game Ep 41 – Mike Taylor

The latest guest to grace The End Game is Mike Taylor, manager of PINK, a healthcare ETF from the Simplify stable, the profits and fees associated with which go to the Susan Coleman Foundation for breast cancer. In a hugely spirited discussion, Mike pulls no punches as he takes apart the current landscape, assesses the […]

This content is only available for active subscribers. Subscribe

Listen Now »

The End Game Ep 40 – Cem Karsan

On this episode of The End Game, we welcome Cem Karsan of Kai Volatility Advisors to the podcast as we take a look at the dramatic changes taking place in the world of volatility – an asset class which has been artificially dampened for many years but which is now beginning to spring back to life.

Cem is our guide as we ponder what this means and examine the constraints the inflation places upon central banks desperate to maintain a low vol environment for as long as they possibly can.

Part history lesson, part math lesson, part explainer, this conversation has so much in it for those looking to understand the new world in which we find ourselves through the prism of volatility…

This content is only available for active subscribers. Subscribe

Listen Now »

The End Game Ep 39 – David Einhorn

The latest guest to grace The End Game series is hedge fund legend, value investor, ‘reformed’ shortseller and poker wizard, David Einhorn. In a greatly anticipated conversation, Bill and I get the chance to quiz David about his recent comments on the death of value investing, the challenges posed by investing in a bear market […]

This content is only available for active subscribers. Subscribe

Listen Now »

The End Game Ep 38 – James Aitken

When James Aitken calls and says we need to record another episode of The End Game based on the events of recent weeks, Fleck and I drop everything and get him on the phone immediately.
In this superb conversation, James lays out how and why the turmoil in the UK happened and explains the implications — which extend into the depths of financial market plumbing, an area James knows better than just about anybody.
LDIs, Linkers, the box into which the Fed has painted itself and the dreadful predicament facing the BoJ all come under the microscope as James picks apart the plumbing as only he can.
Buckle up, folks. Things are about to get really interesting…

This content is only available for active subscribers. Subscribe

Listen Now »

The End Game Ep 37 – Gerard Minack

Episode 37 of The End Game sees Bill and Grant welcome back Gerard Minack of Minack Advisors for a discussion on the current market environment, the reality of the inflationary pulse upending markets and the path Gerard believes we take from here.
Gerard’s one-man mission to convince the world that Central Bankers aren’t responsible for the unfolding disaster in financial markets runs headlong into a man with a hammer to whom everything looks like a nail in Fleck but the case Gerard makes is extremely thought-provoking.
As Gerard says, investor sentiment is a three-month trailing average of the price action and, with that as a backdrop, we pick apart recent price action and dig into the ocean of data that Gerard parses for his clients in order to try and figure out what comes next…

This content is only available for active subscribers. Subscribe

Listen Now »

The End Game

The End Game Ep 47 – The Two Mikes

Returning to The End Game as we begin the year with a bang are the brains behind Simplify, The Two Mikes, Green & Taylor who take turns picking apart just about ever facet of the financial and political spectrum. From the growth of passive investing and its potential impact on the market to the importance of […] This content is only available for active subscribers. Subscribe

Listen Now »

The End Game Ep 46 – James Aitken

Returning to The End Game is The Lord of the Dark Matter himself, James Aitken. Among the topics under discussion is the (under appreciated) potential for a normalization cycle by the Bank of Japan. James suggests the BOJ may attempt a policy rate normalization due to structural reforms and the need to revitalize the equity […] This content is only available for active subscribers. Subscribe

Listen Now »

The End Game Ep 45 – Kris Sidial

Joining us for this episode of The End Game is Kris Sidial, Co-Chief Investment Officer of The Ambrus Group, a tail-risk manager specializing in volatility strategies. Kris and his team seek to offer investors tail-risk protection without the associated ‘bleed’ in premium during times of dampened volatility so, with September fast-approaching, we thought it was a perfect time to chat with him as markets prepare to wake from their traditional summer slumbers.

Kris’ thoughts about what to expect as we move towards the back end of 2023 are incredibly interesting, with his expected scenario for the rest of this year having the potential to create quite the stir in markets lulled to sleep by the constant downward pressure on vol over recent years.

Buckle up, folks!

Listen Now »

The End Game Ep 44 – Mike Green

Returning to the End Game for a long-overdue catch-up is the brilliant Mike Green of Simplify Asset management, who brings us up to date on the effect passive investing is having on asset markets and how they are skewing things in ways yet-to-be fully understood by the vast majority of market participants.

Mike offers his thoughts on the blunders made by the Federal Reserve, the odds that the market may hit a dangerous air pocket and the state of the US economy and does so with his customary verve.

This conversation was recorded the day before last week’s debt ceiling resolution.

Listen Now »

The End Game Ep 43 – Steve Eisman

Bill and Grant return for a no-holds-barred conversation with the great Steve Eisman of The Eisman Group within Neuberger Berman. Steve is no stranger, thanks both to his exploits during the GFC and the stupendous portrayal OF those exploits by Steve Carell in the movie version of Michael Lewis’ wonderful book, The Big Short.

Steve explains the history of paradigm shifts and tells us why he feels we are at the point of another major change, not only in the investment landscape but also in broader society.

The recent meltdown in the mid-size banking sector comes under the microscope, as do Fed policy, lofty valuations, a likely return to a more familiar investment world, the tech reckoning and the purveyor of a certain set of ETFs focused on ‘exponential growth’ stocks.

Fun for all the family!

Listen Now »

The End Game Ep 42 – Michael Kao

With the financial world in turmoil once again and The End Game seemingly under way, we welcome Michael Kao back to the podcast to share his thinking around what the recent events in the banking sector (and the response of regulators) portends for the future.

Michael explains how he views the Fed’s toolkit and what he feels they’re likely to do with the ever-decreasing options at their disposal, what this latest fiasco means for the rest of the global banking fraternity and the US dollar as well as the likely knock-on effects for China.

This is yet another fascinating step on our journey to uncover The End Game.

Listen Now »

The End Game Ep 41 – Mike Taylor

The latest guest to grace The End Game is Mike Taylor, manager of PINK, a healthcare ETF from the Simplify stable, the profits and fees associated with which go to the Susan Coleman Foundation for breast cancer. In a hugely spirited discussion, Mike pulls no punches as he takes apart the current landscape, assesses the […] This content is only available for active subscribers. Subscribe

Listen Now »

The End Game Ep 40 – Cem Karsan

On this episode of The End Game, we welcome Cem Karsan of Kai Volatility Advisors to the podcast as we take a look at the dramatic changes taking place in the world of volatility – an asset class which has been artificially dampened for many years but which is now beginning to spring back to life.

Cem is our guide as we ponder what this means and examine the constraints the inflation places upon central banks desperate to maintain a low vol environment for as long as they possibly can.

Part history lesson, part math lesson, part explainer, this conversation has so much in it for those looking to understand the new world in which we find ourselves through the prism of volatility…

Listen Now »

The End Game Ep 39 – David Einhorn

The latest guest to grace The End Game series is hedge fund legend, value investor, ‘reformed’ shortseller and poker wizard, David Einhorn. In a greatly anticipated conversation, Bill and I get the chance to quiz David about his recent comments on the death of value investing, the challenges posed by investing in a bear market […] This content is only available for active subscribers. Subscribe

Listen Now »

The End Game Ep 38 – James Aitken

When James Aitken calls and says we need to record another episode of The End Game based on the events of recent weeks, Fleck and I drop everything and get him on the phone immediately.
In this superb conversation, James lays out how and why the turmoil in the UK happened and explains the implications — which extend into the depths of financial market plumbing, an area James knows better than just about anybody.
LDIs, Linkers, the box into which the Fed has painted itself and the dreadful predicament facing the BoJ all come under the microscope as James picks apart the plumbing as only he can.
Buckle up, folks. Things are about to get really interesting…

Listen Now »

The End Game Ep 37 – Gerard Minack

Episode 37 of The End Game sees Bill and Grant welcome back Gerard Minack of Minack Advisors for a discussion on the current market environment, the reality of the inflationary pulse upending markets and the path Gerard believes we take from here.
Gerard’s one-man mission to convince the world that Central Bankers aren’t responsible for the unfolding disaster in financial markets runs headlong into a man with a hammer to whom everything looks like a nail in Fleck but the case Gerard makes is extremely thought-provoking.
As Gerard says, investor sentiment is a three-month trailing average of the price action and, with that as a backdrop, we pick apart recent price action and dig into the ocean of data that Gerard parses for his clients in order to try and figure out what comes next…

Listen Now »