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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JeffreyShermanHeadShotErik Townsend and Patrick Ceresna welcome Jeffrey Sherman to MacroVoices. Erik and Jeffrey discuss:

  • Big picture outlook on bonds, interest rates and inflation
  • Considerations on the treasury COT reports
  • Is there a recession coming in the U.S.?
  • How much upside on the U.S. Dollar?
  • Is the trade being short global high yield bonds?
  • How does the economy deal with higher rates and inflation?
  • Bullish outlook on gold?
  • Investing into commodities and commodity funds

We strongly recommend that you download the chart book that accompanies this interview, and Erik and Jeffrey will refer to it throughout the interview. Registered users here at MacroVoices.com already received the download link in your research roundup e-mail. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register.  Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

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nomi PrinsErik Townsend and Patrick Ceresna welcome Nomi Prins to MacroVoices. Erik and Nomi discuss:

  • Why has QE never led to runaway inflation?
  • How has the market been propped up for 10 years without consequence?
  • What does the ECB own today?
  • The bank of Japan, their program and what it contains?
  • Central banks around the world and how they compare?
  • When does tapering occur on a global scale?

For the second featured interview Erik Townsend welcomes Pat Hemsworth to discuss:

  • Why Saudi Arabia and Russia can’t make up their minds about oil prices?
  • Iran sanctions, expectations and what they mean?
  • Venezuela, production and what is next?
  • OPEC, faking it till they make it?
  • What is the forward curve telling us about the market?

We strongly recommend that you download the chart book that accompanies this interview, and Erik and Pat will refer to it throughout the interview. Registered users here at MacroVoices.com already received the download link in your research roundup e-mail. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the 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.


Get embed code for this episode | For other embed code options click here | Download the audio MP3 File (71.00 MB) | Download the podcast transcript:   pdf Here (271 KB)

LacyHuntBio2017Erik Townsend and Patrick Ceresna welcome Dr. Lacy Hunt to MacroVoices. Erik and Lacy discuss:

  • Has the bond bear market started?
  • What are the opposing views?
  • Shorting high yield debt and junk credit
  • Where to be on the yield curve right now
  • Will America ever be able to repay the debt?
  • Where is the point of no return on debt?
  • Considerations on global over indebtedness
  • Endgame on the systemic problem of debt
  • Inflation expectations

 SPECIAL POST GAME GUEST: KEVIN MUIR DISCUSSING THE CURRENT BOND MARKETS

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JulietteDeclercqHeadshot250xErik Townsend and Patrick Ceresna welcome Juliette Declercq back to MacroVoices. Erik and Juliette discuss:

  • Outlook on the U.S. Dollar for 2018
  • Do rate differentials matter?
  • Has there been a regime shift?
  • Is equity risk premium just catching up to higher real yields?
  • How does the economic data tie back into bearish dollar narrative?
  • What has happened this year in the U.S. dollar?
  • Tactical considerations on a new U.S. dollar short
  • Market positioning on the interim
  • Can surprising strength in U.S. economy change the outlook?

SPECIAL POST GAME GUEST: TG MACRO'S TONY GREER

We strongly recommend that you download the chart book that accompanies this interview, and Erik and Juliette will refer to it throughout the interview. Registered users here at MacroVoices.com already received the download link in your research roundup e-mail. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register.  Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

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Get embed code for this episode | For other embed code options click here | Download the audio MP3 File (61.26 MB) | Download the podcast transcript:   pdf Here (245 KB)

Gave Charles PicErik Townsend and Patrick Ceresna welcome Charles Gave to MacroVoices. Erik and Charles discuss:

  • The corporate yield curve and what it is telling us about the equity market
  • The Hong Kong dollar peg
  • China’s debt and related risks
  • The risk parity trade with bonds and stocks selling off simultaneously
  • “The Upcoming Monetary War, With Gold as An Arbiter”
  • Gold bullish vs bearish
  • The return of secular inflation
  • What happened in the 70’s with inflation?
  • Preparing for the return of secular inflation

 

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RussellNapierMacroVoicesErik Townsend and Patrick Ceresna welcome Russell Napier to MacroVoices. Erik and Russell discuss:

  • Deflationary risks in the U.S. 
  • Context on current higher inflation prints
  • How high are risks of a credit event
  • Contagion risk if China “sneezes”
  • Consideration on the impact of higher rates
  • Do we still need a world reserve currency?
  • Is there a concern of the US government not being able to fund itself?
  • Impact of the global de-dollarization trend
  • What is in store for the gold markets?
  • What do investors need to consider in the current environment?
  • What comes next for the equity markets?
  • Impact on emerging market and junk bond markets
  • The falling Yen and its impact on Japan

 

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Marin Katusa OfficeErik Townsend and Patrick Ceresna welcome Marin Katusa to MacroVoices. Erik and Marin discuss:

  • Considerations on uranium exports to from Russia to the US
  • What options does the US have for new uranium sources?
  • Is there an investment play for uranium?
  • Electric vehicles and why they’ll be a dominant trend over the coming years
  • Why is copper a key component, and how to play it during this trend
  • Is copper a sole source material for EV or is there an alternative?
  • Will more efficient electric vehicles require more or less copper?
  • The copper industry and its ability to scale up
  • The investment play for copper and uranium prices going up

 

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BassmanCudmoreSniderErik Townsend and Patrick Ceresna welcome Harley Bassman, Mark Cudmore and Jeffrey Snider to the show. Discussed this week:

Harley Bassman: 

  • How will we know when the real bear market is on?
  • The implicit and explicit VOL trade and how long will it take to play out?
  • How will a bond sell off impact inflation?
  • The USD over then next few years

Mark Cudmore: 

  • Is this a correction or something much bigger?
  • The USD and the recent sideways consolidation, what does it mean?
  • Outlook for the bond market
  • Commodities, China, Europe and EM
  • Current stress on the Hong Kong Dollar

Jeffrey Snider:

  • Where are the equity markets headed?
  • What is going on with the Hong Kong Dollar?
  • Principles of a “Dollar Short”

We strongly recommend that you download the chart book that accompanies this interview with Harley Bassman. Erik and Harley will refer to it throughout the interview. Registered users here at MacroVoices.com already received the download link in your research roundup e-mail. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the 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.


Get embed code for this episode | For other embed code options click here | Download the audio MP3 File (70.23 MB) | Download the podcast transcript:   pdf Here (292 KB)

DariusDaleMVheadshotErik Townsend and Patrick Ceresna welcome Darius Dale to MacroVoices. Erik and Darius discuss:

  • The U.S. growth cycle and its peak
  • Considerations on inflation
  • Earnings outlook for the rest of the year
  • Global divergence reiterated
  • Prognostications vs the reality of the markets
  • China’s massive credit expansion
  • One final leg in the dollar?
  • USD breakdown in currency and interest differentials

We strongly recommend that you download the chart book that accompanies this interview, and Erik and Darius will refer to it throughout the interview. Registered users here at MacroVoices.com already received the download link in your research roundup e-mail. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the 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.


Get embed code for this episode | For other embed code options click here | Download the audio MP3 File (56.51 MB) | Download the podcast transcript:   pdf Here (213 KB)

Simon WhiteErik Townsend and Patrick Ceresna welcome Simon White to MacroVoices. Erik and Simon discuss:

  • Considerations on the equity markets
  • Post-crash dynamics
  • Medium-term drivers of the U.S. Dollar
  • Has something fundamentally changed in the U.S. treasury markets?
  • Where is the yield curve going?
  • TED and LIBOR OIS spreads
  • Outlook on the Canadian economy
  • Context on the Chinese economic outlook
  • Has the Japanese economy peaked?

We strongly recommend that you download the chart book that accompanies this interview, and Erik and Simon will refer to it throughout the interview. Registered users here at MacroVoices.com already received the download link in your research roundup e-mail. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the 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.


Get embed code for this episode. | For other embed code options click here | Download the audio MP3 file (66.45 MB) | Download the podcast transcript:   pdf Here (244 KB)

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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