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  • Dr. Gary Shilling: Long the Long-Bond, Short Oil, Skeptical of U.S. Stocks

    Erik Townsend and Aaron Chan welcome Dr. Gary Shilling to MacroVoices. Erik and Gary discuss the continued perception of the U.S. Dollar as a safe haven currency, why the long-bond trade isn't over and the forces driving yields lower, reasoning behind going long defensive stocks despite a bearish view on equities, and much more.

  • Dr. Harald Malmgren, Dr. Pippa Malmgren: Post-Election Special

    Erik Townsend and Aaron Chan welcome Dr. Harald Malmgren and Dr. Pippa Malmgren to MacroVoices. Erik, Harald, and Pippa discuss Trump's governance effectiveness in light of the enemies he has made on the campaign trail, sources and potential escalation of social unrest and riots in the aftermath of Trump's victory, the potential for Trump to galvanize the determination, grit, and work ethic of the American electorate, whether markets are prematurely jumping to the conclusion that Trump is necessarily inflationary, outlook for foreign relations with China, Russia, and Mexico, breakdown of the social contract and the collapse in the government's ability to function and meet entitlements, and much more.

  • Eric Hunsader: Market microstructure, HFTs, and IEX

    Erik Townsend and Aaron Chan welcome Eric Hunsader to MacroVoices. Erik and Eric discuss Eric's incredible story of exposing the NYSE's selling of higher-speed data feeds to high-frequency traders, the fallacy of HFT providing greater liquidity in the market, how retail investor orders are executed and taken advantage of by internalizers, and much more.

  • Eric Peters: USD Reserve Status, Unfunded Liabilities, Inflation & More

    MacroVoices and Erik Townsend welcomes Eric Peters as this week’s guest, co-hosted by Kevin Muir. Erik and Eric discuss the future of the USD as the world reserve currency, the impact of protectionist policies on financial markets and the FED reductions and their impact around the world. The further discuss inflation, entitlements and the changes we can expect in central bank attitudes moving forward. Later in the podcast the discuss demographics, baby boomers, and millennials and their impact over the coming years on financial markets.

  • Erik Townsend: Accredited Investor Academy Series, Part 1

    Erik Townsend and Aaron Chan introduce the Accredited Investor Academy Series, Part I. We’re taking this week off from our regular show format, so instead of a featured interview guest, we’re airing the first of a four-part series about learning to be a sophisticated private investor.

  • Erik Townsend: Accredited Investor Academy Series, Part 2

    Erik Townsend and Aaron Chan introduce the Accredited Investor Academy Series, Part 2. We’re taking this week off from our regular show format, so instead of a featured interview guest, we’re airing the second of a four-part series about learning to be a sophisticated private investor. Erik and Aaron discuss the process of re-inventing oneself from running a company as an entrepreneur to managing and running money, skillset required for investing versus entrepreneurship, options in alternative financial media, the different categories of private investors and the work required, difference between an asset allocator and a full-time investor, and much more.

  • Erik Townsend: Accredited Investor Academy, Part 3

    Erik Townsend and Aaron Chan introduce the Accredited Investor Academy Series, Part 3.

  • Erik Townsend: Accredited Investor Academy, Part 4

    Erik Townsend and Aaron Chan introduce the Accredited Investor Academy Series, Part 4.

  • Francesco Filia: Positive Feedback Loops Threaten Systemic Risk Escalation

    Erik Townsend welcomes Francesco Filia to MacroVoices. Erik and Francesco discuss the twin bubbles in equities and bonds and what the catalyst could be for the reversal. They further discuss the fake market narrative, feedback loops, European junk bonds and the big short VOL trade. Conversation continues in the postgame with guest Kevin Muir to further discuss bonds, inflation and the coming collapse of the short VOL trade.

  • Grant Williams: The Rise of Populism, Trump Rally, Gold & More

    MacroVoices welcome back Grant Williams to the show. Erik and Grant discuss the growing rise in populism, Trump’s effect on the markets, peak optimism. Grant shares his view on if there is crisis in China, the gold/copper ratio, stagflation, the likely trend of the U.S. dollar and the and asking if the 35-year bond bull market over?

  • Grant Williams: The Trouble in Europe Has Only Just Begun

    Erik Townsend and Patrick Ceresna welcome Grant Williams back to MacroVoices. Erik asks Grant if we in a cyclical bear market and where he feels treasury bond yields are headed next. They discuss tensions between China and Taiwan, the rise of global populism and the future of France and Europe. Grant shares his update on how things are developing on Australian Real Estate and the risks of a recession. They end with touching on gold and the U.S. dollar.

  • Grant Williams: US Recession, Eroding Faith in Central Bankers, and the Economics of War

    Grant WilliamsErik Townsend welcomes Grant Williams to MacroVoices. Erik and Grant discuss:

    • The likelihood of a US recession
    • The unsustainability of global credit growth
    • The continuing erosion of faith in central bankers
    • The response to negative interest rates in Japan
    • The excesses promised by politicians to citizens of Western Democracies
    • "The Consequences of Economic Peace" 
    • Big Cyles, Kondratieff Waves, The Laws of Nature
    • The similarity between current times and the lead up to WWI
    • Thinking about outcomes we'd rather not and assigning probabilities accordingly
    • The Real Vision TV backstory and their goals in bringing some truth back to financial journalism
    • and more...

    Click here for your free trial subscription to Real Vision Television

    pdf Click here to download Grant’s “Duck Test” presentation in PDF form (1.26 MB)

    Click here for a link to Grant’s video presentation; 'The Consequences of Economic Peace'

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  • Grant Williams: US Recession, Eroding Faith in Central Bankers, and the Economics of War

    Erik welcomes Grant Williams and the two of them discuss the probability of a US recession, eroding faith in central bankers all around the world, out of control debts and their geopolitical implications, and the Real Vision Television project.

  • Harley S. Bassman: The Convexity Maven opines on Macro Themes

    Erik Townsend welcomes Harley Bassman to MacroVoices. Erik and Harley discuss the creation of the MOVE index, the three Drivers of Risk: Duration, Credit, and Convexity and the demographic of the Baby Boomers continues to drive financial markets. They further discuss perspective on CAPE ratio levels, correlation of buybacks to cumulative flows and the flow of active to passive management is building a negatively convex foundation.

  • Holiday Special RVTV Encore: Edward Misrahi

    An interview which was originally published on June 2, 2016, between Raoul Pal of Real Vision and Edward Misrahi, Goldman Sachs alumni and founder of Eton Park.

  • Holiday Special RVTV Encore: Paul J. Isaac

    An interview which was originally published on August 2, 2016, between Grant Williams of Real Vision and Paul J. Isaac, CEO and Founder of Arbiter Partners Capital Management.

  • Hugh Hendry: USD Breakout, Post-Brexit Europe, Benign on Japan, Equity Outlook, & More

    Erik Townsend and Aaron Chan welcome Hugh Hendry to MacroVoices. Erik and Hugh discuss USD breakout and binary consideration of US economy's condition in a strong-dollar environment, Brexit contagion and likelihood of strong vs. weaker countries disbanding from the EU, the "time stop-loss" and when it's appropriate to pivot theses, global transfer from creditors to debtors via the machinations of QE, Hugh's response to Kyle Bass' China devaluation thesis, maintaining intellectual honesty in the face of professional ramifications, and much more.

  • Jack Schwager: The Journey from Market Wizards to FundSeeder.com

    Erik and Jack Schwager discuss the Market Wizards project, Fundseeder.com, and how the future of capital introduction is likely to change.

  • Jack Schwager: The Journey from Market Wizards to FundSeeder.com

    JSchwager Photo Barcelona FINALErik Townsend welcomes Jack Schwager to MacroVoices. Erik and Jack discuss:

    • The history of the Market Wizards project
    • The importance of finding your "own process" in achieving success in trading
    • Discipline, risk management, organization, perseverance 
    • The range of possible successful approaches an investor or trader can take
    • Early failure not necessarily being predicitive of future success/failure, learning from mistakes
    • Mr. Schwager's own experience interviewing traders who have been widely influenced by his early books
    • The genesis and mission of FundSeeder.com
    • Finding new ways of linking capital with talented traders and changing the business of capital introduction
    • The technologies that could ultimately provide disruptions in the capital allocation space
    • Assisting an amateur trader in making the leap to full-time professional, and more...

     

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  • Jeffrey Christian: Around the world in 50 minutes

    Erik and Jeff literally circle the globe bringing macroeconomic insight for each stop along the way.

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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