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Join Grant Williams and his guests for a series of random walks around the fringes of finance and gain a better understanding of how the economic sands are shifting beneath our feet. https://www.grant-williams.com
Episodes
Wednesday Mar 31, 2021
Wednesday Mar 31, 2021
One theme which has continually surfaced across just about every episode of The Grant Williams Podcast, is that of the debate surrounding whether deflation remains our likely future, or whether the return of inflation may finally be on the horizon after so many false starts.
Given the persistence of the discussion, who better to drag into the ring than James Davolos, of Horizon Kinetics?
Horizon has constructed an ETF designed to provide investors with a way to simply play the inflation narrative – something which is more difficult to do than one might think!
In this discussion, James and I dig into how his thinking around inflation has evolved, the problems inherent in trying to mitigate the risks it poses to the average portfolio as it’s constructed today and the role ESG may well play going forward.
Saturday Mar 20, 2021
Saturday Mar 20, 2021
Stephanie and Grant reconvene to noodle about a whole bunch of hot button topics including bitcoin – specifically Steph’s concerns about possible regulatory interference and the under-discussed question as to where the crypto darling may rank in the capital structure – whether any upcoming inflationary pressures are likely to merely be transitory and the change in the seasons which seems to be bringing springtime to the world of value investing just as winter approaches for technology and growth stocks.
The two discuss the effect an extra 10 million people out of work might have on both saving and spending, the likelihood that the housing market will continue to be strong as an ox and the nature of long-term, intractable problems that are all too obvious but never seem to matter until they’re right on top of us.
Sunday Mar 14, 2021
Sunday Mar 14, 2021
Bill and Grant welcome Milton Berg of MB Advisors, LLC to The End game for an illuminating look into the technical side of the current market environment.
Milton outlines the overwhelming number of positive technical indicators which suggest that the ‘Everything Bubble’ may be nothing of the sort, why occasionally drifting from a technical focus to a fundamental focus has caused him problems in the past and why he thinks this party will only come to an end when certain conditions are met.
As the search for The End Game continues, this conversation demonstrates that watching the manifestation of human behaviour may be the most important requirement right now and that the idiosyncrasy of crowd psychology is one factor for which there will never be an End Game.
Thursday Mar 04, 2021
Thursday Mar 04, 2021
Bill and Grant welcome Russell Clark of Russell Clark Investment Management to The End Game for a deeply fascinating discussion which draws on Russell’s wealth of knowledge about Japan to map the path taken by the Bank of Japan and attempt to figure out what clues it can offer us as to the ultimate End Game.
Russell details his experiences trying to buy JGBs and the lightbulb moment he experienced during the process and digs deep into the connection between food prices and inflation – explaining just how important (and misunderstood) the food complex is by most investors.
What follows is another conversation guaranteed to send you in a totally different direction in your own search for The End Game...
Sunday Feb 28, 2021
Sunday Feb 28, 2021
Ben and Grant examine the recent reddit/WallStreetBets assault on Wall Street and pick apart the narrative surrounding a story that’s kept the financial world (and far beyond) in its thrall for weeks on end.
Is this the revolution it’s purported to be? Is Main Street finally ‘sticking it to the suits’, or is there a different truth behind thousands of headlines describing a stock market that’s turned into a casino?
Ben explains the different players at the poker table, the distinctly misaligned interests of each and why the appearance of a new ‘bully’, while interesting fodder for social media, disguises the fact that the real beneficiaries of this so-called revolution are quietly rubbing their hands in glee ... safe in the comfortable confines of their Wall Street offices.
Sunday Feb 14, 2021
Sunday Feb 14, 2021
In this special preview, Grant and Bill welcome Jim Stack of InvesTech Research to The End Game for a fascinating conversation about how Jim sees The End Game playing out.
From the outcome desired this time around by the Federal reserve to the results the last time they blew an epic, speculative bubble in the late-1990s, Jim explains where his technical signals suggest we are in the process, what he’s looking for to suggest the party may finally be winding up and why tenure in the investment industry is going to be hugely important in the months to come.
Jim runs through his proprietary indicators, explains why he pays little attention to sentiment indicators and offers some hope for a smooth transition from the everything bubble to something resembling normalcy (whatever that is these days)...
To hear the full conversation, head to www.grant-williams.com and subscribe to the Copper or Silver Tier.
Wednesday Feb 10, 2021
Wednesday Feb 10, 2021
In this special preview, Grant welcomes his friend and mentor, Anthony Deden of Edelweiss Holdings for an incredibly thought-provoking conversation about Tony's investment framework, the difference between an investment business and an investment practice, the perils of trying to convert GLD into physical metal and much, much more.
To hear the full 2.5 hour conversation, head to www.grant-williams.com and subscribe to the Copper or Silver Tier.
Friday Jan 29, 2021
Friday Jan 29, 2021
Grant invites two accomplished shortsellers, Marc Cohodes and Bill Fleckenstein to discuss the wild gyrations in equity markets in recent days as a coordinated move by retail investors to attack 'shortsellers' and inflict pain upon Wall Street proves to be, in some ways at least, a roaring success.
There are, however, nuances to this story which are perhaps not broadly understood and are in need of a little illumination - most notably, the difference between 'shortsellers' and 'highly leveraged hedge fund shorts'.
Bill, Marc and Grant discuss the important differences between the two, the events that have transpired and the potential path from here as well as some thoughts on why and how the system is broken, where the anger of retail investors ought to perhaps more accurately be directed and why this growing revolution may be an important turning point...
Thursday Jan 28, 2021
Thursday Jan 28, 2021
Stephanie and Grant welcome David Rosenberg of Rosenberg Research to The Super Terrific Happy Hour for a fun-filled conversation about the disconnect between the economy and risk assets, the probability Rosie places on the return of significant inflation and much, much more.
From the negligible likely impact of the supposed positives of Covid life on overall GDP to the importance of having robust econometric models and understanding the dramatic changes to spending and saving habits by U.S. consumers, Rosie offers a masterful breakdown of the most important factors to be considered when assessing where we go from here.
It looks as though Q3 is setting up to be a very, very important watershed...
Sunday Jan 24, 2021
Sunday Jan 24, 2021
Grant welcomes Mike Green of Logica Funds and Nic Carter of Castle Island Ventures & CoinMetrics for a civilized debate about Bitcoin (with a little Tether chat thrown in for good measure).
With so much polarization around this topic, it seemed like a good opportunity to try and flesh out the case both for and against bitcoin with two men who've become vocal proponents for their respective causes.
What followed was a wonderful exchange of ideas with both Mike and Nic demonstrating precisely why each side of the debate values their opinion so highly.
Will any minds be changed by this? It's highly unlikely... but let's see, shall we?
REMINDER: This is the penultimate free edition of The Grant Williams Podcast.