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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Raoul PalErik Townsend welcomes Raoul Pal to MacroVoices. Erik and Raoul discuss:

  • The US Dollar backstory and how central bank policy divergence got us here
  • US government bonds and the potential for interest rates to move much lower
  • Weak growth in the US and a business cycle that is appearing to roll over
  • The risks of loaning money to insolvent governments in the form of sovereign bonds
  • Changing our operating framework to better understand a changing global macro picture
  • Gold and real estate becoming hedges to the currency risk involved with negative interest rates
  • Gold's ability to rally in the face of potential further Dollar strength
  • The European banking system and "CoCo Bonds"
  • The ban on cash and the real reasons the powers that be are moving in this direction
  • "The Big Uglies" and what could trigger an economic recession
  • Which forms further monetary or fiscal stimulus could take, and more...

Get embed code for this episode. | For other embed code options click here | audio Download the MP3 File (33.31 MB) .

Raoul Pal has previously co-managed the GLG Global Macro Fund in London for GLG Partners, one of the largest hedge fund groups in the world. He came to GLG from Goldman Sachs where he co-managed the hedge fund sales business in Equities and Equity Derivatives in Europe. Other stop-off points on the way were Natwest Markets and HSBC. He started his career training traders in technical analysis.

Raoul retired from managing client money in 2004 at the age of 36 and now writes for The Global Macro Investor, his flagship publication on global markets, and is a cofounder of Real Vision TV, the worlds first video on demand service for investors.

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 Nathan Egger shall NOT be liable for losses resulting from investment decisions based on information or viewpoints presented on MACRO VOICES.

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