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
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…
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 […]
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…
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…
In the latest episode of The End Game, Bill and Grant welcome author and financial historian non-pareil, Edward Chancellor back to talk about his new book The Price Of Time.
Episode 35 of The End Game sees Bill and Grant welcome Goldman Sachs Global Investment Research Global Head of Commodities Research, Jeff Currie for a discussion around the current dynamics in the commodities sector and their potential place in The End Game.
Jeff’s thoughts on the importance of the only two asset classes in the green this year — ‘hydrocarbons and carbohydrates’ — are extremely eye-opening and the masterful job he does in explaining the need for positive, pro-energy policy change in an era of overwhelming focus on climate change is both balanced and thought-provoking.
The importance of putting a price on carbon is laid out beautifully, as are the problems with current tax policies and the straitjacket into which policymakers have strapped themselves.
Lastly, Jeff offers his thoughts on gold and precious metals as the road towards The End Game rises up to meet us…
Episode 34 of The End Game sees the welcome return of Bridgewater Associates co-CIO, Greg Jensen who joins us again to reflect on his enormously prescient first appearance just under a year ago.
During that original conversation, Greg called the current inflationary headwinds roiling the worlds of central bankers and consumers alike and explained how what he saw coming would affect policy decisions and consumer behaviour.
In another superb hour of insightful thinking, and with just about everything he predicted now upon us, Greg offers his thoughts on where we stand and what might come next. Central bank policy and credibility come under the microscope as does the current environment for liquidity and we dig into Bridgewater’s very vocal bet against Europe.
This is another tour de force by one of the brightest minds in the global investment community.
Episode 33 sees the return of James Aitken of Aitken Advisors for his third appearance on the End Game. As you’re about to hear, there’s a very good reason for that – not only does James have as good a grasp on the myriad facets of global markets as anybody, he’s also a brilliant communicator (as we’ve seen in his earlier visits to the podcast).
Now, however, as two years of searching for an End Game moves towards a climax, James offers his thoughts on the predicament in which Kuroda-san at the BoJ finds himself as he tries manfully to stick to Yield Curve Control in the face of a dramatically weakening yen and a bond market which looks in no mood to let him continue to have his cake and eat it.
James also outlines where the Fed, the BoE and the ECB currently stand with a focus on the recent travails of the RBA. This is a true masterclass in macro thinking.
In the latest episode of The End Game, Bill Fleckenstein and I have the great privilege of welcoming Judy Shelton to the podcast for a discussion that helps place one of the key missing pieces into the puzzle we’ve been attempting to assemble – the honest and frank perspective of a central banking insider.
After her nomination to the board of the Federal Reserve by President Donald Trump in 2018, Judy’s appalling treatment at her Senate confirmation hearings demonstrated the very worst of partisan politics at an incredibly toxic time in America.
A letter signed by 100 economists, including seven Nobel laureates, opposing her appointment suggests, to me, at least, that she would have been the perfect person to bring necessary change to an institution whose many failings are becoming more apparent by the day.
Judy’s openness, insight and willingness to discuss the practicalities and limitations of modern-day central banking in this conversation are a breath of fresh air and worthy of our deepest respect and gratitude.
he End Game is back with a very special guest, the Urban Kaoboy himself, Michael Kao.
After stints at Goldman Sachs, Canyon Partners and Akanthos, Michael is now the CIO of the Kao Family Office and, in this stimulating conversation we dig into his dollar wrecking ball theory as well as pulling apart the options facing central banks, surveying the oil market and outlining its key importance and looking over the options available to Kuroda-san at the BoJ as he tries to simultaneously defend both the yen and the JGB market.
Spoiler Alert: none of his options look great.
The End Game is getting closer…
The End Game returns after a year-end hiatus and who better to mark that than our first returning guest of the series, the always-dazzling Mike Green of Simplify Asset Management.
In his first appearance back in July 2020, Mike left all those who listened dumbfounded with much of his insight as he explained the rise of passive and the problems it creates for markets unaccustomed to such a dynamic.
This time, Mike turns his attention to politics, geopolitics and markets as well as updating his thoughts on the influence passive investment strategies are exerting over risk markets in every corner of the globe. Once again, Mike demonstrates why he’s such a crucial voice in our search for The End Game.
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
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…
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
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…
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…
In the latest episode of The End Game, Bill and Grant welcome author and financial historian non-pareil, Edward Chancellor back to talk about his new book The Price Of Time.
Episode 35 of The End Game sees Bill and Grant welcome Goldman Sachs Global Investment Research Global Head of Commodities Research, Jeff Currie for a discussion around the current dynamics in the commodities sector and their potential place in The End Game.
Jeff’s thoughts on the importance of the only two asset classes in the green this year — ‘hydrocarbons and carbohydrates’ — are extremely eye-opening and the masterful job he does in explaining the need for positive, pro-energy policy change in an era of overwhelming focus on climate change is both balanced and thought-provoking.
The importance of putting a price on carbon is laid out beautifully, as are the problems with current tax policies and the straitjacket into which policymakers have strapped themselves.
Lastly, Jeff offers his thoughts on gold and precious metals as the road towards The End Game rises up to meet us…
Episode 34 of The End Game sees the welcome return of Bridgewater Associates co-CIO, Greg Jensen who joins us again to reflect on his enormously prescient first appearance just under a year ago.
During that original conversation, Greg called the current inflationary headwinds roiling the worlds of central bankers and consumers alike and explained how what he saw coming would affect policy decisions and consumer behaviour.
In another superb hour of insightful thinking, and with just about everything he predicted now upon us, Greg offers his thoughts on where we stand and what might come next. Central bank policy and credibility come under the microscope as does the current environment for liquidity and we dig into Bridgewater’s very vocal bet against Europe.
This is another tour de force by one of the brightest minds in the global investment community.
Episode 33 sees the return of James Aitken of Aitken Advisors for his third appearance on the End Game. As you’re about to hear, there’s a very good reason for that – not only does James have as good a grasp on the myriad facets of global markets as anybody, he’s also a brilliant communicator (as we’ve seen in his earlier visits to the podcast).
Now, however, as two years of searching for an End Game moves towards a climax, James offers his thoughts on the predicament in which Kuroda-san at the BoJ finds himself as he tries manfully to stick to Yield Curve Control in the face of a dramatically weakening yen and a bond market which looks in no mood to let him continue to have his cake and eat it.
James also outlines where the Fed, the BoE and the ECB currently stand with a focus on the recent travails of the RBA. This is a true masterclass in macro thinking.
In the latest episode of The End Game, Bill Fleckenstein and I have the great privilege of welcoming Judy Shelton to the podcast for a discussion that helps place one of the key missing pieces into the puzzle we’ve been attempting to assemble – the honest and frank perspective of a central banking insider.
After her nomination to the board of the Federal Reserve by President Donald Trump in 2018, Judy’s appalling treatment at her Senate confirmation hearings demonstrated the very worst of partisan politics at an incredibly toxic time in America.
A letter signed by 100 economists, including seven Nobel laureates, opposing her appointment suggests, to me, at least, that she would have been the perfect person to bring necessary change to an institution whose many failings are becoming more apparent by the day.
Judy’s openness, insight and willingness to discuss the practicalities and limitations of modern-day central banking in this conversation are a breath of fresh air and worthy of our deepest respect and gratitude.
he End Game is back with a very special guest, the Urban Kaoboy himself, Michael Kao.
After stints at Goldman Sachs, Canyon Partners and Akanthos, Michael is now the CIO of the Kao Family Office and, in this stimulating conversation we dig into his dollar wrecking ball theory as well as pulling apart the options facing central banks, surveying the oil market and outlining its key importance and looking over the options available to Kuroda-san at the BoJ as he tries to simultaneously defend both the yen and the JGB market.
Spoiler Alert: none of his options look great.
The End Game is getting closer…
The End Game returns after a year-end hiatus and who better to mark that than our first returning guest of the series, the always-dazzling Mike Green of Simplify Asset Management.
In his first appearance back in July 2020, Mike left all those who listened dumbfounded with much of his insight as he explained the rise of passive and the problems it creates for markets unaccustomed to such a dynamic.
This time, Mike turns his attention to politics, geopolitics and markets as well as updating his thoughts on the influence passive investment strategies are exerting over risk markets in every corner of the globe. Once again, Mike demonstrates why he’s such a crucial voice in our search for The End Game.