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 Pal

Erik Townsend welcomes back Raoul Pal, co-founder of Real Vision TV back to MacroVoices.  Erik and Raoul discuss:

  • Trump impact on the U.S. Dollar
  • Is the bond bull market over and where are yields moving from here
  • Update on the business cycle (spoiler alert: it is long in the tooth)
  • Looking at the European banks and can they survive the next recession
  • The overcrowded VIX contango trade
  • The short-term direction of gold
  • The big opportunities of 2017
  • Update on crude oil
  • Junk bonds, when do the credit risk return

Get embed code for this episode. | For other embed code options click here. | audio Download the MP3 File (32.82 MB) . | Download the podcast transcript:  Here

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 co-founder of Real Vision TV, the world's 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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