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Algos Have Taken the Rhythm Out of the Market | Stanley F. Druckenmiller | Real Vision™
 
05:04
Investment visionary Kiril Sokoloff is embarking on a series of exceptional interviews from his personal contacts for Real Vision. In the second episode of his series, he sits down with a revered titan of the investment world: Stanley F. Druckenmiller. Druckenmiller has an unrivalled track record that spans many decades. But what might be most incredible is that even whilst becoming one of the world’s most successful money managers, Druckenmiller has also managed to maintain an incredibly balanced and happy life. This interview provides an unrivalled opportunity to learn the previously unheard secrets of an investment legend. Filmed on September 6, 2018 in New York. Kiril Sokoloff is the chairman & founder of 13D Global Strategy & Research. To find out more about 13D Publications, visit http://www.13D.com/RVSD Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2NJeYvX About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ https://www.youtube.com/c/RealVisionTelevision
Views: 17456 Real Vision
What's Driving Towards Protectionist Tariffs? (w/ Peter Zeihan) | Expert View | Real Vision™
 
04:40
Geopolitical strategist Peter Zeihan, author of The Accidental Superpower, delves into the breakdown of global trade. Using geography, demographics, security and economic trends, he explores why the geopolitical framework that developed after WWII is dissolving and which countries stand to benefit. The only financial TV that matters. Start a 14-day free trial on Real Vision to watch this interview in full: https://rvtv.io/2J5ZXl3 Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe About Expert View: The Expert View covers discussions on the topics that really matter, right now. Expert guests answer a series of questions on thematic topics that investors most want to know about, offering informative, actionable, and relevant market insight. It’s like being in the same room as an expert investor and being able to ask all the questions you really want answers to. About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ What's Driving The Movement Towards Protectionist Tariffs? (w/ Peter Zeihan) | Expert View | Real Vision™ https://www.youtube.com/c/RealVisionTelevision Transcript: You've got to take a step back way back, really to the beginning of the industrial period or before, if you want to. The point was there are very few places in the world that have good geography internally that allows them to consolidate into a single ethnic group and do so in a way that generates wealth. You need flatland. You need good agricultural space. You need a good river so you can move things around in your own system. That doesn't happen in large portions of the planet. And even that isn't quite enough. You have to have significant barriers between you and your neighbors. Otherwise, you'll tend to get invaded every generation or two. This means that in the world before what we consider normal, there were really only about a dozen significant powers, and they would branch out beyond these core zones as empires in order to conquer large tracts of territory and use those resources to feed their populations, to trade, to have captive markets, and ultimately, to outcompete everyone else who was among those 12. This led to wars, a lot of them. Constantly, bigger and badder wars as the industrial period built. Eventually, you got things like tanks, and artillery, and ultimately, hydrogen bonds. That lead to World War II. That brought the entire system crashing down. And of those 12 geographies in the world, only 1 of them wasn't leveled, and that was the United States. So at the end of World War II, the Americans brought their allies together at Bretton Woods, New Hampshire and basically held a conference and laid out what the rules of the new age were going to be. So instead of everyone competing for global domination, it's pretty clear the United States held all the tools here-- had the only global Navy, had the only economy that had survived the war, had the only industrial base. So the Americans proposed a trade. We'll open our markets to you so you can export your way back to affluence. We'll use our Navy to patrol the global oceans so that you can buy any product from anywhere in the world, ship it home, process it into finished goods, and then re-export it for hard currency. We'll protect the entire supply chain, so you're not any longer limited to the territory in which you directly control. You can access everything. And in exchange, all we ask is for the right to protect you from the Soviets. And for all the empires, there was a degree of confusion on here. So they're like, OK, let me get this right. You're going to give us for free everything that we have been struggling to achieve ourselves for the last thousand years, and you're going to protect us. Deal. That's the Cold War. This is NATO. This is the European Union. This is the Chinese Communist Party. Because the beauty of the Bretton Woods deal was you could extend it to new members at any time. And as the 40s turned into the 50s turned into the 60s turned into the 70s, the Bretton Woods alliance continued to expand,and expand, providing the economic basis.
Views: 18943 Real Vision
Losing Money Without Losing Your Edge (w/ Peter Brandt) | Mental Game of Trading | Real Vision™
 
07:12
Who better to kick off our new Mental Game of Trading series than Peter Brandt, a 40-year veteran of the markets. In this episode, Peter explains some of the common mental pitfalls that can commonly affect traders. He explains how to deal with painful drawdowns, opens up about his own worst losing period, and reveals what it took for him to get back into the black. Start a 14-day free trial to start watching: https://rvtv.io/2qXmcPK Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe About Trade Ideas: In this series we meet with an array of the best and brightest analysts and traders in the financial markets. They discuss their favorite trade ideas of the moment in short 5-15 minute videos that are bursting with actionable content. The presenter will explore the key points of each trade, asking questions or providing signposting as required. Particularly important are discussions about risk/reward and position sizing. New episodes are filmed every week to keep the content topical, relevant, and fresh. About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ Losing Money Without Losing Your Edge (w/ Peter Brandt) Game Of Trading | Trade Idea | Real Vision™ https://www.youtube.com/c/RealVisionTelevision
Views: 9676 Real Vision
China's Double Economy (w/ Miles Kwok) | The Kyle Bass Interviews | Real Vision™
 
02:39
Kyle Bass sits down with infamous Chinese businessman Guo Wengui, also known as known as “Miles Kwok,” to hear a series of shocking accusations and predictions revolving around the Chinese government. Kwok provides his perception of the backstory behind several recent high-profile news items, and touches on the Chinese government’s management of the economy. He also unfurls an alarming forecast about Alibaba co-founder Jack Ma. Filmed on October 5, 2018 at an undisclosed location. Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2SjGK0Y About The Kyle Bass Interviews: Kyle Bass is one of America’s most widely respected hedge fund managers. He is famous for developing big, bold ideas – and then acting on them. But how does he form these revolutionary insights? In this exclusive series of hour-long interviews, we find out. Kyle Bass of Hayman Capital Management opens up his incredible rolodex to give the Real Vision audience an unprecedented peek inside his unique information-gathering process. About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ China's Double Economy (w/ Miles Kwok) | The Kyle Bass Interviews | Real Vision™ https://www.youtube.com/c/RealVisionTelevision
Views: 8542 Real Vision
David Hay And The Bubble 3.0 | Grant Williams | Real Vision™
 
08:18
This conversation with David Hay didn't make it into the final cut of his recent Real Vision interview, so you'll sure as hell want to see what did. Learn from the best, watch the Grant Williams In Conversation With... series on Real Vision: https://rvtv.io/2OD8xX3 David Hay has been on the forefront of the financial advisory industry for nearly 40 years. He was the youngest member elected to Dean Witter, now Morgan Stanley's Chairman's Council in 1985. Since 2002, he has been the Chief Investment Officer of Evergreen GaveKal Capital Management." Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2OD8xX3 About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ David Hay And The Bubble 3.0 | Grant Williams | Real Vision™ https://www.youtube.com/c/RealVisionTelevision
Views: 7718 Real Vision
Turning Points And Timing (w/ Felix Zulauf) Outtake | Grant Williams | Real Vision™
 
09:46
This conversation with Felix Zulauf didn't make it into the final cut of his recent Real Vision interview, so you'll sure as hell want to see what did. Learn from the best, watch the Grant Williams In Conversation With... series on Real Vision: https://rvtv.io/2E2lWT3 Felix Zulaufis an investing legend who has been a member of the Barron’s Roundtable for over 30 years. Famous for his big calls ahead of the 1987 crash, the bursting of the bubbles in Japan and US tech, and the subprime crisis, he has built a stellar track record over a 40-year career. For the fourth in his “In Conversation with...” series, Grant Williams travels to Felix’s home in Naples, Florida to talk about that storied career and the important lessons that Felix has learned along the way. Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2NfusU4 About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ Turning Points And Timing (w/ Felix Zulauf) Outtake | Grant Williams | Real Vision™ https://www.youtube.com/c/RealVisionTelevision
Views: 13816 Real Vision
Market Breaking Points (w/ Raoul Pal) | Expert View | Real Vision™
 
17:00
Raoul Pal sees many critical markets at absolutely key levels. He starts with the tech giants, explaining why Google’s chart has become “the most important in the world,” before moving on to a bevy of other stocks, indices, currencies and commodities. What will break first, and how bad could the damage get? Start a 14-day free trial on Real Vision and find out how we can help you to become a great investor: https://rvtv.io/2GWTxn5 Filmed March 29, 2018 in Grand Cayman. Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe About Expert View: The Expert View covers discussions on the topics that really matter, right now. Expert guests answer a series of questions on thematic topics that investors most want to know about, offering informative, actionable, and relevant market insight. It’s like being in the same room as an expert investor and being able to ask all the questions you really want answers to. About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ Market Breaking Points (w/ Raoul Pal) | Expert View | Real Vision™ https://www.youtube.com/c/RealVisionTelevision
Views: 31212 Real Vision
Liquidity: Most Important Thing | Kiril Sokoloff Interviews w Stanley Druckenmiller | Real Vision™
 
01:16
Investment visionary Kiril Sokoloff is embarking on a series of exceptional interviews from his personal contacts for Real Vision. In the second episode of his series, he sits down with a revered titan of the investment world: Stanley F. Druckenmiller. Druckenmiller has an unrivalled track record that spans many decades. But what might be most incredible is that even whilst becoming one of the world’s most successful money managers, Druckenmiller has also managed to maintain an incredibly balanced and happy life. This interview provides an unrivalled opportunity to learn the previously unheard secrets of an investment legend. Filmed on September 6, 2018 in New York. Kiril Sokoloff is the chairman & founder of 13D Global Strategy & Research. To find out more about 13D Publications, visit http://www.13D.com/RVSD Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2N9gGSt About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with original content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ Liquidity: Most Important Thing | Kiril Sokoloff Interviews w Stanley Druckenmiller | Real Vision™ https://www.youtube.com/c/RealVisionTelevision
Views: 5259 Real Vision
Kyle Bass On: Capital Flows in China | Interview | Real Vision™
 
03:21
Legendary investor Kyle Bass, the founder of Hayman Capital, joins Real Vision’s Grant Williams for a deep dive into China. From shifting capital flows around the world to the threat of China devaluing the yuan, these two discuss threats and opportunities that China presents investors now. Filmed September 17, 2018 in New York. Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2NLAZFz About The Kyle Bass Interviews: Kyle Bass is one of America’s most widely respected hedge fund managers. He is famous for developing big, bold ideas – and then acting on them. But how does he form these revolutionary insights? In this exclusive series of hour-long interviews, we find out. Kyle Bass of Hayman Capital Management opens up his incredible rolodex to give the Real Vision audience an unprecedented peek inside his unique information-gathering process. About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ Kyle Bass On: Capital Flows in China | Interview | Real Vision™ https://www.youtube.com/c/RealVisionTelevision Transcript: I think what we try to understand is the capital flows. When you think about capital flows, what do we learn 10 years ago, almost to the week, was that flows mattered more than the stock. And as soon as the flows became meaningful, the stock became important. And so this idea of what happened to Lehman, what happened to Bear Stearns, what almost happened to Goldman and Morgan Stanley actually applies in the context of the sovereign realm. There are many more variables to the equation, but when you think about how China operates and how it operates globally, you have to bifurcate your thought into two buckets. One bucket is how China operates domestically. They have a renminbi-based economy that they essentially control. And I think global investors understand that they can control their internal accounts of RMB, basically however they wish. They can print more. They can recap banks. They can make losses go away. They can make people go away. They can do all kinds of things internally that we really aren't privy to and probably won't ever be privy to. But the kind of the barometer, or let's say the arbitrator of China's cake and eat it too strategy is the exchange rate vis-a-vis the rest of the world. Now as you know, they're a massive net importer of goods, of call it raw materials, whether that is iron ore or crude oil or derivatives thereof. They need foreign currency to continue to grow China Inc's working capital. You think about it as working capital. The way that that works is they need positive capital flows annually on a net basis. So their current account has to be positive. They have to be growing their wealth, and they have to be growing it in foreign currency terms, not just in RMB terms. And so what we've studied are those capital flows, and we've studied their use of dollars, euros, and yen, and really, it's mostly all dollars. The euros and yen are negligible. When we think about dollars, China's brought roughly 400 million people out of abject poverty into the middle class, and they've taken the middle class to the upper class and the upper class to the elite, well, what's the first right the wealthy Chinese and middle class Chinese want to exercise, and it's their right to travel. Right, sure. Because the PRC said, we want you to travel. When they travel and spend abroad, they spend dollars. They don't spend RMB, because Jamba Juice won't take RMB, and the hotels in London won't take RMB, and the hotels here won't either. We're a long way from that. And when you think about, you look at the Swift global settlement system, if you look at the most recent report that Swift has put out, Chinese GDP is around-- if you dollarize the RMB at the current exchange rate is about 15% of global GDP. They're the second largest economy in the world behind us. But it's Swift settlement terms, the RMB doesn't even amount to 1% of Swift settlements. So they kind of have this-- they have this world that's of their own conjuring.
Views: 6839 Real Vision
Gold Manipulation: Fact or Fiction? | Gold | Real Vision™
 
04:46
Watch the full gold documentary parts 1 and 2, exclusively on Real Vision. This is your chance to watch a new groundbreaking documentary on gold and share it with your family & friends: https://rvtv.io/2uZaNjl In the second part of Real Vision’s ground-breaking documentary, Grant Williams examines how gold is bought and sold around the world, explains the difference between ‘the gold price’ and ‘the price of gold,’ and explores some of the legends that surround the yellow metal. Grant also weighs up the possibility of the world returning to a gold standard and addresses the all-important accusations of manipulation that surround the subject of man’s 6000-year obsession. Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2NfusU4 About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ Gold Manipulation: Fact or Fiction? | Gold | Real Vision™ https://www.youtube.com/c/RealVisionTelevision Transcript: Because of its fascination for mankind, gold has always been surrounded by conspiracy theories and stories of price suppression and manipulation. That's really no surprise. After all, wherever you find money, you inevitably find human beings trying to cheat in some way or another. Fake gold bars have frequently surfaced over the years, with gold-plated tungsten, which has an identical density to gold, being the most common substitute. Fortunately, any one of a number of very simple tests will provide a conclusive answer as to whether a particular bar is fake or not. Gold is unique. However, the most important questions about possible manipulation of the gold price concern much broader issues and occur at a much higher level. Well, look, the question about manipulation is clearly a favored one, people like to discuss this. I do think that even a cursory glance at historical fact will lead you in fairly clear direction. I mean, it's not like this is a hidden thing. I mean, the London Gold Pool existed, it was an overt way of managing the gold price in terms of its price. It's clearly in the interest of central bank to manage, particularly in the monetary system as it functions right now-- whether it does function not being a slightly separate point-- it's clearly in their interest to manage the risk-free rates. Would you influence the gold price? Well, it's said that gold is the reciprocal trust of central banks, you betcha it would achieve the gold price, notwithstanding the fact that central banks are the biggest holders of gold-- 60% of their reserves are in gold, would you want to suppress it? You betcha. The problem's too big. Are they doing it? I don't know is the answer, but money-- there's always a raising certainty, they probably are. Others, however, are far more confident, not only as to the question of whether the gold price is manipulated, but also who the culprits might be. Well, the gold price is absolutely manipulated. When I say that, I'm not, you know, implying some deep, dark conspiracy. I don't think Janet Yellen wakes up in the morning and thinks about gold-- I don't think Janet Yellen knows anything about gold to be honest with you. She's sort of a geeky liberal labor economist who worships the Phillips curve, so I don't think Janet Yellen is behind some conspiracy to suppress the price of gold. But there's absolutely manipulation. I've spoken to several experts. One is a PhD statistician, so it's not a PhD in economics, it's a PhD in statistics. Works for one of the largest hedge funds in the world. He looked at a 10-year time series and he took-- like literately tick-by-tick information on the COMEX gold futures for 10 years, and he said there is no explanation for this data other than manipulation, it could not possibly have happened through normal market forces. In particular, he knows that at the end of the day, like on the last trading tick on the COMEX, the price of gold got smacked down. And then at the open the next day, it could kind of pop up again.
Views: 9742 Real Vision
The Story Of Shorting Home Capital (w/ Marc Cohodes) | Interview | Real Vision™
 
14:27
This Home Capital story didn't make it into the final cut of the Marc Cohodes interview on Real Vision, so you'll sure as hell want to see what did. Listen to Marc Cohodes on Real Vision and become a better investor: http://rvtv.io/2oiHI2f Real Vision's new flagship interview series premieres, as famed short seller Marc Cohodes joins Grant Williams for a candid and emotionally raw interview. In the first in a series of extended discussions with successful investors, Grant asks Marc about his short selection process, the difficulty of managing emotions when embroiled in a fight and his current battles with a series of companies he believes to be fraudulent. Marc offers a vicious takedown of biotech company MiMedx, and shares a gut-wrenching story of losing money during 2008, despite being perfectly positioned. Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube:http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2NfusU4 About The Interview: Unfiltered, long-form deep dives with the most successful investors in the world. In discussions across a range of subjects, we dig into the minds of the sharpest investors to find out what makes them tick. If you’ve ever wanted to learn from the best, this series is where to go. About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ The Story Of Shorting Home Capital (w/ Marc Cohodes) | Interview | Real Vision™ https://www.youtube.com/c/RealVisionTelevision Transcript: Are you a farmer? Are you learning to be a farmer? Or is it something that you've always wanted to do or? Well, my grandfather was a farmer in Wisconsin. It's very good for one's mind. So I enjoy it, sort of but a different version. My main passion is my family and these goofy ass stocks, and these crappy companies. But to unwind a little bit I do this and I have fun with it. Marc Cahodes is well known for his very public stance on Canada's home capital group. A company he believes will eventually go to zero. In my recent conversation with him at his chicken farm in Sonoma county, Marc recounted his Home Capital story, as only he can. Amazingly our conversation was so good, so varied and so wide-ranging that what you're about to watch had to be left on the cutting room floor. Now think about that for a moment, if the Home Capital story didn't make it into the final cut for the interview with Marc Cohodes you'll sure as hell want to see what did. So there's few people who I really respect investment-wise, one is Steve Eisman who is a pal. I like him. And he, I think, mentioned Home Capita Sohn Conference I don't know if it was '13, '14 or '15, he brought it up. And it put it on its radar for me, cause I didn't really know about it then. And he was right but they doubled the stock on him, which doesn't make him wrong, just makes him early. It's happened to me more than I'd like to remember. So I was watching it cause again I'm a huge fan of his, and the Canadian housing market was booming. And Home Cap with insider selling comes out and misses a quarter, and I'm thinking "Fuck, how are these guys missing a quarter with the market booming so much?" And I shorted the stock that day, it was down 3 or 4, low low 50s and that got me started on it. I didn't know at the time it was a fraud but there was clearly something going on which caused them to miss, they had to come clean on a billion eight of mortgage fraud, first 900 million then a billion eight. Stock then traced to low 30s. Only then did I realize that this thing was just a major fraud. I mean Home Cap is a bank, that should have failed. It's a fraud, it's a fraud on the public, it's an admitted fraud. They've still done a bunch of stuff they haven't confessed to, but in order to build this thing out the Canadian banks, the legitimate banks, wanted nothing to do with them. So the only way to solve this thing was with a Warren Buffett type figure because the real banks and the finance people in the know in Canada wanted nothing to do with them.
Views: 17572 Real Vision
The 'Craziest Juncture' In Finance | Jim Grant | Real Vision™
 
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Want to hear more from Jim Grant? We have a special offer for Grant's Interest Rate Observer but not for long. And only for real Vision subscribers and friends…: https://rvtv.io/2HTT0hZ Jim Grant, the editor of Grant's Interest Rate Observer, sits down with famed fund manager and master short seller Jim Chanos of Kynikos Associates. They discuss the philosophy of shorting stocks, the best way to perform research, and the preferred methods for managing risk within a portfolio. They also discuss Mr. Chanos’s successful shorts on Enron, Valeant and others – as well as his current bets against Tesla and China. Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2NfusU4 About the Jim Grant Series: The Legendary Jim Grant talks to top investors and listens to their capivating story. He finds out what makes them tick, what made them what they are today and how their experiences have that shaped the way they invest. But most importantly what did they get wrong and what lessons can be learned? About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ The 'Craziest Juncture' In Finance | Jim Grant | Real Vision™ https://www.youtube.com/c/RealVisionTelevision Transcript: What do you say about that? Are you in fact a closet investigative journalist who wants to set the world right or are you are you a money maker? Which one? Well I hope a little of both, and more the latter than the former. But I will say that I think some of the very best analysts that have worked at our firm in fact were investigative journalists. So there is a bit of overlap on that. So they took the pay cut in good grace? As to whether we're money makers, I'll leave it for my client to decide. But we've done OK. And we've done OK in a very different corner of the markets and in an environment basically, as you well know, of 35 years of declining interest rates, rising price to earnings multiples, rising corporate profits of course. But the tailwinds to the financial markets have been nothing short of spectacular over the past 35 years. Is that going to change? I mean, I wonder if something isn't fundamentally off in the world. And I think that the thing that might be off-- in fact I'm quite sure the thing that is off is credit, is the pricing of credit, is the manipulation of interest rates by the central banks. And they have given us such things as junk bond yields denominated in euros beginning, these yields do, with the number zero. Some of these things yield less than 1% to call. I mean this is something new in the world, these rates. And the monetary regime is relatively new in the world. Do you think about things like the monetary backdrop? Do you think about things like the cosmic questions, or do you focus single-mindedly on discrete situations? Well again remember, broadly speaking, we're in effect long the equity markets of any place where we're shorting stocks. So I think about them and I think about what it offers us in the portfolio of choice of what to be short. So the incredibly low interest rate environment has given rise to behavior that is worse in some areas than others, and worse in some specific companies than others. I can't do a whole lot about railing at the sky of the central bankers. Leave that to me. But, I'd be remiss if I didn't say I agree with you that as you so aptly put it, when you've got your fingers or your whole fist on the scale, it alters things. It alters behavior. It alters what people expect-- And perceptions of what is. --and perceptions of what is. And so you begin to see people do kind of dumb things. And that's our bailiwick.
Views: 12321 Real Vision
Kyle Bass On: China’s Currency Conundrum | Interview | Real Vision™
 
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Legendary investor Kyle Bass, the founder of Hayman Capital, joins Real Vision’s Grant Williams for a deep dive into China. From shifting capital flows around the world to the threat of China devaluing the yuan, these two discuss threats and opportunities that China presents investors now. Filmed September 17, 2018 in New York. Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2CSWxix About The Kyle Bass Interviews: Kyle Bass is one of America’s most widely respected hedge fund managers. He is famous for developing big, bold ideas – and then acting on them. But how does he form these revolutionary insights? In this exclusive series of hour-long interviews, we find out. Kyle Bass of Hayman Capital Management opens up his incredible rolodex to give the Real Vision audience an unprecedented peek inside his unique information-gathering process. About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ Kyle Bass On: China’s Currency Conundrum | Interview | Real Vision™ https://www.youtube.com/c/RealVisionTelevision Transcript: I'll give you a great anecdote. I met with someone in the Russian finance ministry. And we became-- we shared information. This isn't a collusion thing. We were talking very specifically about this the geopolitical economic situation and our work in Asia. And they were keen to understand a few of the points that I had made at a conference. At the conclusion of the call, and I'd never really spoken at length with these people before, but I know exactly who they are. And I think they were brilliant in understanding flows. They're the best I've ever spoken with, which is really interesting. And at the end of the call, they said, well, you may be right, but we're Russia. We'll be here when it happens. We don't know if you'll be there when it happens. We had this great information exchange and what I thought was a very productive call, something that's going to be the beginning of a two-way flow that I was going to enjoy. And at the end, he just made sure to let me know that I'm in a business that is a fickle business and that they run the Russian Finance Ministry, and they'll be around. GW: I mean, it is interesting, but it's a valid point. But when you say you've got to be in now, how do you do that? Because obviously, you've got currency strains, you've got the bond strains. But you've also got this ability that the Chinese have to pull levers that we don't even think about, and you've got that tailwind for them and that people will sit and believe any number that comes out of China, because it's generally accretive to their own investment position. If the Chinese say our GDP is 8%, no one's going to argue. They don't want to cause bullshit. People say well, you can't prove it. So how do you position yourself to have skin in the game that is manageable? KB: You just have to try to time it. I mean, that's the best answer I can give you is you have to try to time it. GW: But is it currency? Is it the bond market? Is it equities? KB: It's currency. Again, the only arbiter of the Chinese position is going to be their currency. Right, if you're in the Chinese stock market, or if you're the Chinese bond market, they can manipulate that market. They're big enough, they're smart enough. You think about Hong Kong and the financial crisis, you remember the HKMA bought funds. GW: The tracker fund. Absolutely right. KB: And they bought a lot of them. And so if you are short equities, they can ban short selling. They can manipulate. They can purchase. They can do anything they want to do. But again, the ultimate arbiter is what is the world willing to exchange an RMB for $1 for.
Views: 4967 Real Vision
What Will Happen To Pensions In The Next Recession? (w/ Raoul Pal) | Expert View | Real Vision™
 
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In this clip from Real Vision special 'The Coming Baby Boomer Retirement Crisis' (released 9th May 2018) macroeconomist, Raoul Pal explains the impending pension crisis that not everyone is going to see coming. A must watch for investors and upcoming retirees. To watch the full piece on Real Vision start a 14-day free trial: https://rvtv.io/2K7aUzr Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe About Expert View: The Expert View covers discussions on the topics that really matter, right now. Expert guests answer a series of questions on thematic topics that investors most want to know about, offering informative, actionable, and relevant market insight. It’s like being in the same room as an expert investor and being able to ask all the questions you really want answers to. About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ What Will Happen To Pension Funds During The Next Recession? (w/ Raoul Pal) | Expert View | Real Vision™ https://www.youtube.com/c/RealVisionTelevision Transcript: You see, the real problem here is it's all about the business cycle. The business cycle, as you know, ebbs and flows. You can see it on the chart here. It goes up and down, and it's relatively predictable-- within some boundaries. But what happens is a piquing, booming economy eventually gives way to a recession. And they come along periodically-- every 4 to 8 years. Now what's interesting about this expansion is this is the second-equal, longest expansion in all economic history. And by next month or the month after, this will be the second longest outright. So what that tells you is there is a probability that this expansion has to end at some point. Could it roll on for another couple of years, 2 or 3 years? Of course it could. Could this end up being the longest ever expansion? Of course it can. The point being is the clock is ticking, and it's moving towards the next recession. Now, normally, that's no big deal. But this time, it's a bit different. You see, in recessions, the stock market generally crashes. That's normal. Companies earn less money. Investors fear worse outcomes than are expected. And the market sells off massively. And over time, it has had a tendency to recover. Well, again, that's a bit of a recency bias. Because all across Europe and other markets around the world, things never did recover. And why didn't they recover versus America? And that's because the Americans have a cult of equity, and the Europeans tend to have a cult of bonds. So Europeans basically gave up on the equity market. The structure of the pension system there means that they own much less equities. They're about 70% or 80% in bonds for this particular cohort. The Americans are the opposite. They're about 70% in equity and equity-like instruments. They're taking huge amounts of risk. Now, normally, in America with this risk seeking culture, once the equity market falls, the 401(k) payments come in as everybody's income starts filtering into the stock market and acts as a break and helps the market rise. The problem is the next recession is going to cross the exact point that the maximum number of people are going into retirement. This has never happened before anywhere. What it means is that all of the life savings that are in equities, which is basically 70% of the entire household balance sheet is going to get wiped out in one recession. And they won't be able to buy back because they won't have an income to buy back. This is the biggest problem I can see in the world today.
Views: 8369 Real Vision
The Big Story: Edge Of The Cliff | The Big Story | Real Vision™
 
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Start your 14-day free trial on Real Vision. Learn how you can become a great investor: http://rvtv.io/2AxlxeA With sky-high equity valuations, economic uncertainty, plus concerns over interest rates, central bank reactions and debt, the risks are rising. With a stellar cast, featuring some of the greatest investors on the planet, The Big Story - Edge of The Cliff, examines the potential for a major market correction and what that means for investors, in a world of complacency and compressed volatility. Filmed in September 2017. Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ The Big Story: Edge Of The Cliff | The Big Story | Real Vision™ https://www.youtube.com/c/RealVisionTelevision
Views: 86511 Real Vision
Kyle Bass On: China’s Current Account Deficit | Interview | Real Vision™
 
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Legendary investor Kyle Bass, the founder of Hayman Capital, joins Real Vision’s Grant Williams for a deep dive into China. From shifting capital flows around the world to the threat of China devaluing the yuan, these two discuss threats and opportunities that China presents investors now. Filmed September 17, 2018 in New York. Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2AhBaoz About The Kyle Bass Interviews: Kyle Bass is one of America’s most widely respected hedge fund managers. He is famous for developing big, bold ideas – and then acting on them. But how does he form these revolutionary insights? In this exclusive series of hour-long interviews, we find out. Kyle Bass of Hayman Capital Management opens up his incredible rolodex to give the Real Vision audience an unprecedented peek inside his unique information-gathering process. About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ Kyle Bass On: China’s Current Account Deficit | Interview | Real Vision™ https://www.youtube.com/c/RealVisionTelevision Transcript: the most interesting thing, when you really look down at the numbers is their current account's gone negative for the first time since 2001. All right, so it's really 17 years since it's been negative, and the first half of this year, it's negative. And there are a few reasons why, the travel services deficit, getting the $320 billion, and the second thing when you look at their current account is they're such a massive net importer of energy. Sure. So you look at energy. If you remember end of 2014 when crude oil collapsed from 100 down to 35, and iron ore the base metals went with it, that gave China a huge reprieve. Their current account was right at 0 at the end of 2014, and that it bounced back up into the low single digits, because all of a sudden their raw materials costs collapse. So what's interesting is the net volume of crude oil that they import has gone up 45% in four years. And now what's the price doing? It's turning. Yeah. So the price of crude has gone from mid 30s to call it 70, and the same for our base metals, iron ore, and lot of the inputs that they have. So when you look at their current account, this is not an aberration, right, and the reason they're fighting so hard on trade is while they run a big trade surplus with the US, they run trade deficits with everyone else everywhere else. And so they run a $400 billion trade surplus with the US, and their current account's negative. Yeah. Right? And what we're doing is putting some tariffs and trying to at least level the playing field on unfair trade practices. And that's why they're really pushing back so hard, because they're out of dollars. So they are desperately short dollars, and now their current account's negative. And so when you think about this fallacy of China can have its cake and eat it too forever, I think we all know that that can't happen. And what we're seeing now is all the preconditions are set forth for pretty material devaluation.
Views: 4687 Real Vision
Five Common Mistakes Investors Make (w/ Michael Mauboussin) | Expert View | Real Vision™
 
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Michael Mauboussin, director of research at BlueMountain Capital Management, discusses the five most common behavioral mistakes he sees investors make. He explains what scientific research can teach us about investor behavior, and discusses how the types of mistakes made can shift over the course of an economic and market cycle. With this background set, Mauboussin provides tips for plugging one's behavioral leaks. Finally, he explains how one might be able to make better decisions by anticipating the mistakes of others. Filmed on January 25, 2018 in New York. Now, for a limited time, subscribe to Real Vision for just $180/year and we’ll throw in a full year of free access to Business Insider Prime (worth $99). Click for your 14-day trial: https://rvtv.io/2xmCu84 Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2NfusU4 About Expert View: The Expert View covers discussions on the topics that really matter, right now. Expert guests answer a series of questions on thematic topics that investors most want to know about, offering informative, actionable, and relevant market insight. It’s like being in the same room as an expert investor and being able to ask all the questions you really want answers to. About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ Five Common Mistakes Investors Make (w/ Michael Mauboussin) | Expert View | Real Vision™ https://www.youtube.com/c/RealVisionTelevision
Views: 8521 Real Vision
Serial Entrepreneur (w/ Ross Beaty Outtake) | Grant Williams | Real Vision™
 
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Grant travels to western Canada for a conversation with Pan American Silver Chairman, Canadian Mining Hall of Fame inductee, and Order of Canada recipient Ross Beaty. The two discuss Ross’s extraordinary career as a serial entrepreneur across multiple different resources, and pick apart the successes and failures that have shaped one of the most successful mining executives of the last half century. Ross describes his successful ventures in silver, gold, copper, and alternative energy, and explains his deep philanthropic commitment to the environment, in a fascinating and engaging conversation. Now, for a limited time, subscribe to Real Vision for just $180/year and we’ll throw in a full year of free access to Business Insider Prime (worth $99). Click for your 14-day trial: https://rvtv.io/2NZUHla Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2NfusU4 About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ Serial Entrepreneur (w/ Ross Beaty Outtake) | Grant Williams | Real Vision™ https://www.youtube.com/c/RealVisionTelevision
Views: 2954 Real Vision
Sneak Peek: William White | Grant Williams | Real Vision™
 
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Check out this sneak peak of Grant Williams conversation with William White. In this clip, they discuss central banks, gold and more. Watch the full episode when it goes live on Friday the 17th. Subscribe to Real Vision for just $180/year and get a full year of free access to Business Insider Prime (worth $99): https://rvtv.io/2NemPS7 The only financial TV that matters. Start a 14-day free trial on Real Vision to watch more interviews like this: https://rvtv.io/2Pdtg5h Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2NfusU4 About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ Sneak Peek: William White | Grant Williams | Real Vision™ https://www.youtube.com/c/RealVisionTelevision
Views: 4560 Real Vision
The Coming Retirement Crisis | Real Vision™
 
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In this hard-hitting Real Vision special, Raoul Pal presents the single most important financial topic of a generation — the Baby Boomer retirement crisis. He asks the hard questions: Can you afford to retire? How will the coming crisis impact your life? What risks are you unknowingly taking with your retirement? Moreover, will the insufficient retirement savings of the largest generation in history cripple the economy? Raoul also explores how savvy retirees might avoid — and even profit from — the threatening crisis. In addition, Raoul also offers a glimpse of a brighter future, in which smart millennials take control of their own financial destiny and side-step the crisis. Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://we.tl/t-DUVzH4pHwz About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with original content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ The Coming Retirement Crisis | Real Vision™ https://www.youtube.com/c/RealVisionTelevision Transcript: What's very comfortable now may not be so comfortable later on. That's when I might have to take out my mutual funds. My only worry is my dad works for the state of Illinois. The state's pretty much insolvent. And even his health care, which is through the state of Illinois, it could take up to a year for him to get reimbursed for things like that, so that is worrisome. Justine Underhill: Retirement is all some people ever think about, especially the 50-million-plus Americans set to retire in the next few years. They obsess over it, like my dad did. It's what they worked for. It's their dreams. But those dreams could be shattered. You're about to hear Real Vision's founder and CEO, Raoul Pal, explore why we're heading into a retirement crisis in America and around the world as many people take on more risk than they understand. I was curious to see if anyone was thinking about this, so we spoke with people in New York and heard the same story over and over-- people pushing off retirement, people not having enough savings, people relying on government pensions. Here's some of what they said. No. No way I could have saved enough for retirement. I mean, I have enough to retire, let's say, if I want to go to Wyoming or something like that. I saved enough for at least the next 10 years. Who knows with inflation what will happen, but I feel the next 10 years, I'm OK. If the United States government goes out of business, then my pension won't be there. These stories were just a small sample of what we heard. And this is not just something that those actively looking for retirement are going to face. It's something that's going to have a big impact on my generation as well, whether it's figuring out pensions, or social security, or potentially supporting our own parents'. Retirement is part of the promise of life in the developed world. And if that promise isn't met, it's really going to affect everyone, whether you're hoping to retire in 5 years or 50. Roaul Pal: My name's Raoul Pal. I'm the CEO and co-founder of Real Vision. But today, I'm talking on behalf of Global Macro Investor, my research business. I want to talk about what I think is the biggest, single theme of our generation. And I think it's the most important thing that anybody can understand. And it's all about the pension crisis. You see, demographics is the big story of our time. And it's all about the story of the baby boomer generation. This was the largest generation of people the world had ever known in the richest countries in across the globe. Now, that generation drove all of the macroeconomic forces that we come to recognize as normal. When they first came into the labor force back in the 1970s when they 20 or so years old, what they did was they bid up the demand for goods. Because if you think about it, a record number of people came in to buy their first suits, their first house, their first car, their first table, their first chair. Everything was new. That demand created an enormous problem for the world to deal with, and it created the inflationary environment of the '80s.
Views: 315107 Real Vision
Pre-Recession Patterns Occurring Now (w/ Alex Gurevich) | Expert View | Real Vision™
 
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Alex Gurevich, CIO of HonTe Investments, has developed a framework of timing signals during a twenty-year global macro trading career. Now he says that a late-cycle signal has recently been triggered. And upon further investigation, he has found a pattern of confirmation that provides sufficient reason for him to adjust his investment outlook. In this clip Alex discusses the pre-recession patterns already starting to occur. The only financial TV that matters. Start a 14-day free trial on Real Vision to watch this interview in full: https://rvtv.io/2I4yiwQ Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe About Expert View: The Expert View covers discussions on the topics that really matter, right now. Expert guests answer a series of questions on thematic topics that investors most want to know about, offering informative, actionable, and relevant market insight. It’s like being in the same room as an expert investor and being able to ask all the questions you really want answers to. About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ Pre-Recession Patterns Occurring Now (w/ Alex Gurevich) | Expert View | Real Vision™ https://www.youtube.com/c/RealVisionTelevision Transcript: What I find particularly interesting that there is a large number of patterns of price actions that people use to argue that we actually in midcycle, that the economy is strong. But all of those things have been present at the end of the last two cycles. I will start with one, which was particularly interesting and decisive-- is the price-action oil. Well, we currently have oil made a low, a very significant low, a couple of years ago. And that's been running very strong. And many people argue it is a argument for inflation or indication of strong global growth. But if you look at the previous two cycles, oil did exactly the same thing. It made a low, a local low, one or two years before the recession arrived, and was strongly running up right into recession. It is actually a very, very distinctive pattern by itself. And in here, just as with everything else I will say further, the rise of oil price itself is not an indicator of recession coming. Very often, it goes up, and the recession doesn't come. But it is consistent with late cycle. Like, current price-action oil is consistent with late cycle. So what are the things that people-- what are consistent with late cycle? One of them is the arrival of stock-market volatility. And what is interesting is that when this volatility arrives, like it did in January of this year-- end of January of this year-- or it arrived in March 2000, or it arrived in July and August of 2007, neither of those actually marked the absolute top of the stock market. For example, NASDAQ, even this year, made another high recently, I think in March. Similarly, the stock market highs were actually December 2007, much closer to actual recession. So this arrival volatility, but not the top, is very consistent of late cycle. And also, divergent performance. This is might be a little too technical, but divergence performance between various stock indices. In 2000, there was a period when NASDAQ started to sharply outperform Dow. And then it sharply underperformed. And we had this on a smaller scale, this type of price action, this year as well. In fact, arrival of strong earnings and unambiguously-strong economic numbers is also consistent with late cycle. This all happened in other cycles. The arrival of very strong inflation concerns that people claim was the argument that rates will continue to go up-- like the very low unemployment, strong job growth, or growth in average hourly earnings, all this stuff actually which people see as an indication to higher rates-- in the past led to much lower rates, because that marked the end of the cycle in the past. Particularly interesting it is that I observe the pattern in bonds. What I look at is all adjusted, classical bond futures. They're long-- total return chart. Both of them had protracted back up.
Views: 16085 Real Vision
How Have Central Banks Evolved Since 2008? (w/ Nomi Prins) | Expert View | Real Vision™
 
03:55
Nomi Prins, the author of “Collusion: How Central Bankers Rigged the World,” explores the triggers for the recent shifts in global central banking and for the increasing coordination among major economies. She highlights five regions and central banks that played integral roles in reshaping geopolitics. She also argues that the policies they implemented in the wake of the financial crisis have created cracks in the global economy. The only financial TV that matters. Start a 14-day free trial on Real Vision to watch this interview in full: https://rvtv.io/2sbw1tg Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe About Expert View: The Expert View covers discussions on the topics that really matter, right now. Expert guests answer a series of questions on thematic topics that investors most want to know about, offering informative, actionable, and relevant market insight. It’s like being in the same room as an expert investor and being able to ask all the questions you really want answers to. About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ How Have Central Banks Evolved Since 2008? (w/ Nomi Prins) | Expert View | Real Vision™ https://www.youtube.com/c/RealVisionTelevision Transcript: So what I see going on right now is that, since the financial crisis of 2008, which is now a decade ago, there are a lot of “remedies” that were put into the economy through banks that were supposedly done to help the economy. When, in fact, all they did was help the private banks, and the markets, and created a lot of sort of bubbles throughout the world that were performed by central banks, which are the bankers for banks, like the Federal Reserve in the United States, like the European Central Bank in Europe, like the Bank of Japan in Japan. I chose the word collusion to define what happened over this past decade between central banks and among central banks, because collusion has two connotations. One is, it's about groups or people working together in a sort of secret fashion that, then, part two, perform a sort of deceit, or a crime, or a cheating of some sort. And it's not a term that's used for what central banks do because, mostly, what they are considered to be is helpful for the economy, because that's the narrative under which they operate. That's the narrative under which the governments in which they reside are also operating. However, the reality is, there's a lot of coordination, particularly amongst the major central banks of the world, that's happened during the last 10 years to do two things. One is to keep the price of money extremely low. That's why we have 0% interest rates throughout the world. That's why when people put money into their savings accounts, they get 0.1%, if they're lucky, interest on it, because of the idea that these central banks would pump money cheaply to banks. And banks would somehow use it to help small businesses, to help spur the economy, to help individuals, and so forth, rather than simply help themselves, which is what they did with it. And the second part of this coordination or collusion together amongst the major central banks is to fabricate money electronically, and use it also to provide to the banks and the banking system in return for the assets or the bonds that they had on their books. So it's equivalent for central banks to get together and say, look, we're going to create a whole bunch of money out of nowhere. And we're going to give it to banks. And we're going to say to banks, you know what? Any junk you have on your books lying around that you can't get rid of, which was definitely the case in the wake of the 2008 financial crisis, just give it to us. We'll pay whatever. It's good. You keep the money. And that happened to the tune of $21 trillion, or the size of the entire United States GDP, over the course of a 10-year period. And in some countries, it's still going on. So that's where the collusive activity of-- something's happening in secret, the conversations. A lot of things documented, but not publicly put together.
Views: 2687 Real Vision
Predicting The Global Economy (w/ Raoul Pal) | Macro Insiders | Real Vision™
 
39:37
The only financial TV that matters. Start a 14-day free trial on Real Vision: https://rvtv.io/2PiqRpL Raoul Pal, founder & publisher of the Global Macro Investor research service, walks us through how to build the business cycle in your investment framework. Raoul describes his probabilistic method of combining the secular cycle, the business cycle, and the shorter-term business cycle, including his secret weapon of charts - the ISM Real Vision is the world's only video-on-demand channel for finance. No sales, no bias, no bullshit - Real Vision is the world's smartest investors, in one place. Start your 14-day free trial of Real Vision. Learn how you can become a great investor: http://rvtv.io/2BFLqc6 Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ Boom, Bust, Rinse & Repeat: Predicting The Global Economy (w/ Raoul Pal) | Macro Insiders | Real Vision™ https://www.youtube.com/c/RealVisionTelevision
Views: 98699 Real Vision
The Kiril Sokoloff Interviews: Stanley F. Druckenmiller
 
01:24:39
Investment visionary Kiril Sokoloff is embarking on a series of exceptional interviews from his personal contacts for Real Vision. In the second episode of his series, he sits down with a revered titan of the investment world: Stanley F. Druckenmiller. Druckenmiller has an unrivalled track record that spans many decades. But what might be most incredible is that even whilst becoming one of the world’s most successful money managers, Druckmiller has also managed to maintain an incredibly balanced and happy life. This interview provides an unrivalled opportunity to learn the previously unheard secrets of an investment legend. Kiril Sokoloff is the chairman & founder of 13D Global Strategy & Research. To find out more about 13D Publications, visit http://13d.com. Filmed on September 6, 2018 in New York. Watch more Real Vision videos: http://po.st/RealVisionVideos Subscribe to Real Vision on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https: https://rvtv.io/2NfusU4 About Real Vision: Real Vision is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision. Connect with Real Vision Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ Video Title https://www.youtube.com/c/RealVisionTelevision
Views: 82171 Real Vision
The Chemistry Of Gold | Gold | Real Vision
 
01:24
Why is gold used as early money instead of other metals? Let’s look at the periodic table and find out. This is your chance to watch a new groundbreaking documentary on gold and share it with your family and friends: https://rvtv.io/2JM2cGp Check out this short animation (and the rest of this brief animation series), narrated by Grant Williams, to find out more about the history of gold: https://www.youtube.com/playlist?list=PL2-78gs9nRfNbf-M8LAJuWxUzeQ3yRxh_ Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2NfusU4 About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with original content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ The Chemistry Of Gold | Gold | Real Vision™ https://www.youtube.com/c/RealVisionTelevision
Views: 3372 Real Vision
Killing The Hong Kong Dollar (w/ Miles Kwok) | The Kyle Bass Interviews | Real Vision™
 
02:56
Kyle Bass sits down with infamous Chinese businessman Guo Wengui, also known as known as “Miles Kwok,” to hear a series of shocking accusations and predictions revolving around the Chinese government. Kwok provides his perception of the backstory behind several recent high-profile news items, and touches on the Chinese government’s management of the economy. He also unfurls an alarming forecast about Alibaba co-founder Jack Ma. Filmed on October 5, 2018 at an undisclosed location. Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2CIwcTN About The Kyle Bass Interviews: Kyle Bass is one of America’s most widely respected hedge fund managers. He is famous for developing big, bold ideas – and then acting on them. But how does he form these revolutionary insights? In this exclusive series of hour-long interviews, we find out. Kyle Bass of Hayman Capital Management opens up his incredible rolodex to give the Real Vision audience an unprecedented peek inside his unique information-gathering process. About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ Killing The Hong Kong Dollar (w/ Miles Kwok) | The Kyle Bass Interviews | Real Vision™ https://www.youtube.com/c/RealVisionTelevision
Views: 5737 Real Vision
Is Uranium Set For A Bull Market? (w/ Adam Rodman) | Expert View | Real Vision™
 
02:42
"Watch this full interview with The Expert: Adam Rodman, exclusively on Real Vision. Learn how you can become a great investor: http://rvtv.io/2A6bEAo Is it time for investors to get into uranium? Adam Rodman of Segra Capital Management sees the makings of an unusual opportunity in a very unusual commodity. Breaking down the supply and demand sides of the equation, Adam lays out the upside potential, and explains how investors can get involved. Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2NfusU4 #uranium #invest About Expert View: The Expert View covers discussions on the topics that really matter, right now. Expert guests answer a series of questions on thematic topics that investors most want to know about, offering informative, actionable, and relevant market insight. It’s like being in the same room as an expert investor and being able to ask all the questions you really want answers to. About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ Is Uranium Set For A Bull Market? (w/ Adam Rodman) | Expert View | Real Vision™ https://www.youtube.com/c/RealVisionTelevision"
Views: 5228 Real Vision
Mike Howell On: The Collapse In Global Liquidity | Expert View | Real Vision™
 
02:55
Global liquidity is falling at the fastest pace since the great financial crisis, according to Michael Howell of CrossBorder Capital. Amid flat yield curves, collapsing emerging market equities, and weak gold and commodities prices, Howell also details the decline global risk appetite, which he believes is poised to spread to U.S. markets. Filmed on October 10, 2018 in London. Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2NfusU4 About Expert View: The Expert View covers discussions on the topics that really matter, right now. Expert guests answer a series of questions on thematic topics that investors most want to know about, offering informative, actionable, and relevant market insight. It’s like being in the same room as an expert investor and being able to ask all the questions you really want answers to. About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ Mike Howell On: The Collapse In Global Liquidity | Expert View | Real Vision™ https://www.youtube.com/c/RealVisionTelevision" Transcript: Well, in terms of global liquidity, it's currently falling at the fastest rate that we've seen since 2008, so the short answer is it's not good. This is coming with a bias towards the US, so in other words, the US dollar is likely to be firm certainly in the short term. We have longer term concerns about the dollar, but that's another question. And if you look around the world, you can see the consequences of this tight liquidity. Yield curves, which are an extremely good barometer of liquidity, are flat universally. You've seen cryptocurrency markets skid badly. They're down 80% this year. They're a very liquidity sensitive asset. Gold is down. Commodity prices are weak. Emerging market currencies are very fragile. And emerging markets stock markets are falling out of bed. These are all classic symptoms of a tightening liquidity environment. What's more, if you look at risk appetite measures, which tend to precede turning points in the economy, they are turning lower in pretty much every economy outside of the US. It's absolutely fair to say that the US risk appetite has not yet cracked. We think that's just a matter of time. In actual fact, the Fed has more or less been flat-lining in liquidity terms for much of the last two years, certainly it's got a moderately tight policy in our reckoning. But what you're now seeing is other central banks are joining in. You've seen the ECB at the margin through this year tightened quite noticeably, much more in the markets leaving. You're also seeing emerging markets central banks being forced to tighten because of the upward shock to the US dollar. It's fair to say that liquidity is at lows or towards lows. And liquidity is a leading indicator, so it tends to have its impact, first of all, on bond markets and forex markets, it then migrates through to stock markets, and then it starts to hit the real economy. So when it hits the real economy, you tend to see an inflection point in the liquidity cycle. So actually what we're looking for over the next 6 to 12 months are some signs that the liquidity cycle itself is bottoming out. And that may seem somewhat paradoxical, but as I say, liquidity leads. And liquidity tends to move up as economies are coming down. Now, that movement coincides with steepening yield curves, so what we've got to start to anticipate are signs that the yield curves globally, in fact, will begin to steepen. That steepening normally comes through from the short end, not the long end. We also should be starting to see rising volatility in markets, beginning in the fixed income markets, probably migrating into forex markets, although clearly we've seen some recently, and then ending up in stock markets. And it's that sequence that we're paying very close attention to.
Views: 2480 Real Vision
Bespoke Tranches And Debt Derivatives (w/ David Meneret) | Expert View | Real Vision™
 
02:24
After being decimated in the wake of the financial crisis, the bespoke debt derivative market has grown rapidly in the past three years to over $100 billion today. David Meneret, CIO at Mill Hill Capital, sees lurking risks in this ballooning market. He explains the potential dangers, and walks us through the catalysts that threaten to trigger a wider downturn. Filmed on March 28, 2018 in New York. We are all subject to cognitive biases, but when it comes to investing these can be ruinous because they stop you asking the right questions: https://rvtv.io/2EVuwDA Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2EVuwDA About Expert View: The Expert View covers discussions on the topics that really matter, right now. Expert guests answer a series of questions on thematic topics that investors most want to know about, offering informative, actionable, and relevant market insight. It’s like being in the same room as an expert investor and being able to ask all the questions you really want answers to. About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ Bespoke Tranches And Debt Derivatives (w/ David Meneret) | Expert View | Real Vision™ https://www.youtube.com/c/RealVisionTelevision Transcript: Interestingly, there's another, I'd say, the cousin of CLOs in the corporate space. They can be called CSOs. Most recently they've been called bespoke tranches. They're not a new thing. They've been around before. The only thing that is interesting about bespoke tranches is that they almost disappeared. They went down to less than $15 billion, basically, back in 2015, and they've slowly been rising to more than $100 billion today, according to Mill Hill estimates. So $100 billion, it's not massive in the grand scheme of things, especially when you take into account what it used to be pre-crisis. There was a market pre-crisis that was more than $500 billion. One of the big buyers of those tranches was AIG. We're not talking about something that is as big as it used to be. The reason why it is actually quite worrisome today is that it's been rising very fast. It was less than $15 billion three years ago, now it's more than $100 billion. And the reason why it's been rising very, very fast is, basically, there's been a quest for yield. This quest for yield has been magnified by a never ending bull market. And at the end of a bull market, what you try to get is basically yield where it's hard to find. And where do you find yield? Where you find yield in areas where there is typically a high amount of leverage. Now, the interesting part about bespoke tranches is that not only you're getting exposed to some levered companies and getting some yield, getting rewarded with some yield for that, but also you are getting very low haircuts from specific banks in the US. So banks are providing financing to investors who want to buy those bespoke tranches. And the types of haircuts I'm talking about can be in the range of like 2% to 10%, 15%, which means that you can ultimately be up to 80 times levered-- 8, 0-- 80 times levered on a basket of US companies.
Views: 2353 Real Vision
Marc Cohodes Calls The MiMedX Calamity | Grant Williams | Real Vision™
 
09:07
Six months ago, Marc Cohodes (@AlderLaneeggs) explained why MiMedX $MDXG was heading for serious trouble. Now Marc’s thesis appears to be playing out. Watch the full interview and more on Real Vision: https://rvtv.io/2HChQ5T. Real Vision is an on-demand video platform for savvy investors and traders. Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2NfusU4 About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with original content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ Marc Cohodes Calls The MiMedX Calamity | Grant Williams | Real Vision™ https://www.youtube.com/c/RealVisionTelevision Transcript: Back in November 2017 I traveled to Sonoma in California to spend the day at Alderlane Farm with Marc Cohodes and his fantastic wife Aurora. Marc and I spent the day talking about his career in finance as one of the most notorious short sellers on Wall Street and amongst the topics we covered in a phenomenal conversation was the story of MiMedx. Marc has contended that the company is a fraud for some considerable time now against staunch opposition from the company. This past week the company has restated its finances for the last six years, causing a trading hole and the stock opened down to 25%. The story's not over yet but we thought this would be a great time to give you a chance to listen to Marc's thoughts on the MiMedx story. let's talk about MiMedx because this is something-- we've mentioned it a lot already. Yeah. Let's tell that story. Let's go back to the beginning. How it came on your radar, and just walk us through the story. Because I've followed your Twitter feed, I've followed the presentation. It's just a fascinating story. The beauty of MiMedx is I have certain tells. I always say on Twitter that my wig indicator-- Right. Literally. CEOs who wear wigs. I think I'm 13 out of 14. And this guy Pete Petit, he sued Capital Form for writing research. Caught my attention. He sued anonymous bloggers to get their name. Caught my attention. But then on his website site, he mentions me and my former partner David Rocker. He says I'm a member of a Cali cartel, tax evader. Believe me, I'm not a tax evader. Money launderer-- I'm not one of those. All this stuff. And Carson brought it to my attention and my lawyer sent him a letter to take it down or we'll sue you. And when they took it down and sent a letter saying they took it down, I put it on my Twitter. And Pete Petit has bullied so many women, former employees, customers. The second I put it out on Twitter, my direct message-- Him backing down. Him backing down to me. It was almost like a symbol that Mugabe has been overthrown in Zimbabwe. People got into the streets and celebrated. And that was, I think, a sign that there was a big change. But why do you think he went after you in the first place? Why-- He was stupid and he bought off on the rhetoric that I'm this all powerful guy who controls all these skeptics, and actually believed in all this wolf pack bullshit rhetoric that's out there. If he'd seen you in the pink Crocs, then maybe he wouldn't have bought into that. If he would have just called me up and said, what's going on? That would have been different. But I always say there's no greater motivator than disrespect. And this guy showed me the ultimate disrespect by defaming me and accusing me of a bunch of shit. I figure if you're doing something like this, you have a ton of stuff to hide. And the stuff that has come Luke’s and my way, I've never seen the amount of evidence of criminal activity, kickbacks, Medicaid, VA, channel stuffing, revenue recognition bullshit in my ear. So when people ask me on Twitter what I think of MiMedx, at first I said it's in my top 20 all time. Then I said it's in my top 10 all time. Now it's in my top five. I think their sales are overstated by 70%. I think it's a criminal operation. I think Pete's the mastermind behind it. I think people are going to go to jail. Probably him and maybe their general counsel. And they all hassle me and follow me on Twitter through anonymous things, and threaten me, and this, that, and the other.
Views: 4787 Real Vision
Bank Earnings: Watch the Spread (w/ Chris Whalen) | Expert View | Real Vision™
 
03:20
Chris Whalen, Chairman of Whalen Global Advisors, joins Real Vision to discuss the U.S. banking system and the housing market. In addition, Chris reviews how Federal Reserve policy affects net interest margin, and why smaller banks are poised for outsized growth. The only financial TV that matters. Start a 14-day free trial on Real Vision to watch more interviews like this: https://rvtv.io/2L2qXP0 Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe About Expert View: The Expert View covers discussions on the topics that really matter, right now. Expert guests answer a series of questions on thematic topics that investors most want to know about, offering informative, actionable, and relevant market insight. It’s like being in the same room as an expert investor and being able to ask all the questions you really want answers to. About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ Bank Earnings: Watch the Spread (w/ Chris Whalen) | Expert View | Real Vision™ https://www.youtube.com/c/RealVisionTelevision Transcript: Most banks turn over their balance sheet about every four years. If you think about it, Citibank, JPMorgan, a quarter of their assets redeem every year. They got to go replace those. They've got to go make a new loan to somebody or go buy a security, right? So when that happens, they're hoping to get a better price than they did three or four years ago when rates were really low and the Fed was suppressing interest rates. No, not so much. If you look at Citi, for example, the growth spread on their commercial loan book is 1.5 %. You might as well not do it. But what that tells you is they don't have any pricing power. JPMorgan is well up into the twos. Wells Fargo's three, three something. BA is in that same neighborhood. But when you look at the smaller banks, they're up in the fours. So a large bank that has to make big loans because they have a big balance sheet, it's very competitive. Those banks are out competing with insurance companies and pension funds for assets. Somebody like Mass Mutual, for example, in the commercial real estate market, they are head to head with the banks. And they keep the asset. They're very aggressive, very competitive in the commercial real estate space. So the big banks have a problem in a sense that they have to go out and fight over larger assets with the other large players in the industry globally, not just here in the US. But they're in a global market. I don't think you're going to see a lot of lift on the asset side for banks in terms of what they make on assets. And at the same time, the cost of funds is rising. If you look at the last earnings cycle, most of the big players saw their cost of funds up 50%, 60% year over year. The earnings on their assets are growing single digits. So you put those two lines together, and what I've told my clients is by the end of the year, the earnings from assets of the banks are going to be less than the cost of funds increase. So the yield curve or, if you will, the net interest income of the banking industry's going to flatten out. And then it's going to start going down next year. That's going to violate the narrative. When we see net interest income going down across the board for the industry because of this normalization by the Fed, that's going to have a big effect. What is driving this, in part, is the fact that the Fed is slowly rolling up - letting their balance sheet run off. When the treasury pays the Fed. Say, a treasury bond that the Fed owns, right? They pay the Fed back. The Fed's got cash. They put that on their balance sheet. The investor who owned, or wants to buy that bond, the treasury's immediately going to go out and issue a new piece of paper because they just redeemed the bond that the Fed had, right? What happens? The investor buys that bond. The deposit disappears. So as reserves shrink, as the excess reserves in particular shrink, and they grew enormously when the Fed was out buying securities, you're going to actually shrink the deposit base of the banking system and makes competitive for funding.
Views: 1888 Real Vision
China: The Next Crisis (w/ Kyle Bass) | Real Vision™
 
05:18
The only financial TV that matters. Start a 14-day free trial on Real Vision: https://rvtv.io/2vOl2sk “We are facing the largest macro imbalance in history.” Hear Kyle Bass discuss the current Chinese NPL crisis and its possible effects on the broader market – only at Real Vision. Real Vision is the world's only video-on-demand for finance - no sales, no bias, no bullshit. Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with original content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ China: The Next Crisis (w/ Kyle Bass) | Real Vision™ https://www.youtube.com/c/RealVisionTelevision
Views: 59466 Real Vision
The Arrogance And Conceit Of A Well-Formed Argument (w/ Hugh Hendry) | Interview | Real Vision™
 
10:43
This conversation with Hugh Hendry didn't make it into the final cut of his recent Real Vision interview, so you'll sure as hell want to see what did. Watch the Grant Williams series on Real Vision and become a great investor: http://rvtv.io/2Bncb0x In the second of his new flagship series, Grant Williams travels to Saint Barthélemy in the Caribbean for a conversation with the founder of Eclectica Asset Management, Hugh Hendry. In a revealing and at times deeply personal discussion, Hugh discusses the rise and fall of Eclectica and explains how his experiences reflect the problems facing the wider hedge fund industry. Hugh also offers his thoughts on the pitfalls of arrogance as well as the pressures that stem from being a free spirit in an increasingly constrained world. Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2NfusU4 About The Interview: Unfiltered, long-form deep dives with the most successful investors in the world. In discussions across a range of subjects, we dig into the minds of the sharpest investors to find out what makes them tick. If you’ve ever wanted to learn from the best, this series is where to go. About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ The Arrogance And Conceit Of A Well-Formed Argument (w/ Hugh Hendry) | Interview | Real Vision™ https://www.youtube.com/c/RealVisionTelevision
Views: 15783 Real Vision
Talks July 2018 (Raoul Pal w/ Julian Brigden) | Macro Insiders | Real Vision™
 
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In the same room for the first time, Raoul and Julian don't waste any time and jump right into the macro vortex - "decoupling" stock markets, king dollar, risk/reward in bonds and just a little bit of politics. Take advantage of our special discounted rate for Macro Insiders of $2997 (the price goes up on August 6th 2018): https://rvtv.io/2v1b2KV Filmed on 3 July. Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2NfusU4 About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ Talks July 2018 (Raoul Pal w/ Julian Brigden) | Macro Insiders | Real Vision™ https://www.youtube.com/c/RealVisionTelevision
Views: 8603 Real Vision
Danielle DiMartino Booth On: Central Bank Liquidity | Expert View | Real Vision™
 
02:07
As 2018 draws to a close, global central bank liquidity will flip from net positive to net negative for the first time in a decade. Danielle DiMartino Booth joins Real Vision to explain her thesis that share buybacks have created positive momentum in US equity markets that until only recently have moved away from historically low volatility. The question is, can that volatility be contained as liquidity withdraws? Filmed on November 14, 2018 in New York. Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2NfusU4 About Expert View: The Expert View covers discussions on the topics that really matter, right now. Expert guests answer a series of questions on thematic topics that investors most want to know about, offering informative, actionable, and relevant market insight. It’s like being in the same room as an expert investor and being able to ask all the questions you really want answers to. About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ Danielle DiMartino Booth On: Central Bank Liquidity | Expert View | Real Vision™ https://www.youtube.com/c/RealVisionTelevision" Transcript: So here we sit at the precipice of what we believe to be the next rate hike at the Fed's December meeting. We're looking to go to 2.5% on the Fed funds rate. Whew. But we know from what Jay Powell has told us that that is still three rate hikes shy of what he considers to be neutral-- a neutral fed funds rate where that it's the Goldilocks level. Where the economy is not overheating or slowing down, he considers to be 3%. Unfortunately, his predecessor, Janet Yellen, is on record as having implemented the slowest, most prolonged, most painstakingly painful tightening in US history under her leadership. In other words, Janet left Jay with a lot of work to be done with not so much time, as the economy was heading into, as we know, June 2019 will mark the longest expansion in US history. It's really hard to tighten into an expansion that's lasted as long as it has, but that's exactly what Jay Powell inherited. It was interesting that most in the media when Jay Powell's name was rolled out said he's a Yellen clone. This is it. We're in good shape. This guy is going to be our next best friend. He's the market's BFF. And what did Jay Powell say after his first day in office when the Dow was down by four digits. Let me think. He said nothing. And what did he say at the end of February as the risk parity trade unraveled in bloody fashion?
Views: 2528 Real Vision
US Dollar In A Late Cycle Environment | Macro Insiders | Real Vision™
 
02:44
Raoul and Julian don't take any breaks during the dog days of summer and focus on what they do best - a run around the world of global macro, highlighting the main risks they see and the potential opportunities to take advantage of. The only financial TV that matters. Watch the full video on Real Vision: https://rvtv.io/2KA148Z Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2NfusU4 About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with original content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ US Dollar In A Late Cycle Environment | Macro Insiders | Real Vision™ https://www.youtube.com/c/RealVisionTelevision
Views: 2082 Real Vision
Mark Cuban In Conversation Kyle Bass | Interview | Real Vision™
 
55:13
Start your 14-day free trial on Real Vision. Learn how you can become a great investor: http://rvtv.io/2Aeqncy Entrepreneur, Investor, Maverick. Mark Cuban arrives on Real Vision, in an incredible conversation with the equally legendary Kyle Bass, who finds out what makes the man from Shark Tank tick and his approach to investing, alongside some sharp insights on the future of AI, robotics and ICOs. These two legends apply their unique perspectives to dealing with generational wealth, their opinions on central banks, investible trends, and digital currencies. The world is changing very rapidly, and Cuban believes AI will have more of an impact on humanity that the advent of the internet. Bass and Cuban touch on the problem with digital currencies, in the difficulty to transact. To finish, Cuban offers several investible ideas going forward. Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2NfusU4 About The Kyle Bass Interviews: Kyle Bass is one of America’s most widely respected hedge fund managers. He is famous for developing big, bold ideas – and then acting on them. But how does he form these revolutionary insights? In this exclusive series of hour-long interviews, we find out. Kyle Bass of Hayman Capital Management opens up his incredible rolodex to give the Real Vision audience an unprecedented peek inside his unique information-gathering process. About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ Mark Cuban In Conversation Kyle Bass (w/ Kyle Bass) | Interview | Real Vision™ https://www.youtube.com/c/RealVisionTelevision
Views: 78960 Real Vision
Scott Galloway Schooling Wall Street on Silicon Valley | Interview | Real Vision™
 
48:50
From accurately predicting the recent price action of Bitcoin to foreseeing Amazon's purchase of Whole Foods, Scott Galloway, NYU Stern Professor and author of ""The Four,"" has proven to be one of Wall Street's most clairvoyant commentators. In this interview with Datatrek's Nicholas Colas, the two discuss which tech titan will topple Apple to become the world's most valuable company, what the future holds for social media and the dangers of cryptocurrencies. Subscribe to Real Vision for just $180/year and get a full year of free access to Business Insider Prime (worth $99): https://rvtv.io/2NemPS7 The only financial TV that matters. Start a 14-day free trial on Real Vision: https://rvtv.io/2HRqYV7 Filmed April 24, 2018 in New York City. Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2NfusU4 About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ Scott Galloway Schooling Wall Street on Silicon Valley | Interview | Real Vision™ https://www.youtube.com/c/RealVisionTelevision
Views: 138019 Real Vision
Credit, Debt, & Policy (w/ William White) | Grant Williams | Real Vision™
 
03:52
Grant travels to Toronto to meet Bill White, whose experience at the Bank of England, Bank of Canada, BIS and OECD spans five decades. The two talk about the changes in central banking that Bill has witnessed over his career, the potential for an unruly outcome, the dangers unleashed when unfairness erodes trust, and how central banks really think about gold. The only financial TV that matters. Start a 14-day free trial on Real Vision to watch more interviews like this: https: https://rvtv.io/2NfusU4 Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2NfusU4 About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with original content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ Credit, Debt, & Policy (w/ William White) | Grant Williams in Conversation | Real Vision™ https://www.youtube.com/c/RealVisionTelevision Transcript: GW: The entire global monetary system has been built around the constant expansion of credit, something which mandates inflation be generated and prices rise. With monetary policy options all but exhausted, however, focus is shifting towards other options. We've spoken incredibly eloquently about this dynamic between the central banks and the governments. Because I don't if it was new math, but you've talked about the need for fiscal responses to this problem. But they're all hard decisions. WW: Yeah. GW: And as long as the governments think the central banks have got it all under control, they're not going to make those decisions. But we've started to see at the very edges the central banks kind of nudge and say, guys, it's your turn, that we're almost out of ways to do this. Do you sense that tension between the governments and central banks starting to escalate? And if so, what does that portend. Because I got to think it can't be particularly good. WW: To go back on the fiscal thing, just to make one thing clear, I was banging on a lot a number of years ago about perhaps the necessity to rely more on use of fiscal space when you've got it. But today, of course, the situation, you know, the situation has evolved. They've used up so much of the fiscal space, to say nothing of the recent sort of fiscal expansion in the US. It's not so clear that there's so much room there for anybody. Well, the governments, I think, over the course of years, have desperately wanted the central banks to sort it out, or perhaps better, they've desperately wanted to believe that the central banks can sort it out. Because then they don't have to do the hard things. And the hard things are things like structural reform, better insolvency laws, making it easier to repudiate and restructure debt. Nobody likes to do that kind of stuff. But the honest truth is that it seems to me that many of the debts that are now out there, particularly sort of corporate debt and sort of lower quality corporate debt, these debts won't get serviced in anything like normal interest rates, whatever normal means. And so it would be far better to sort of face up to that and do it in an orderly way through the bankruptcy courts, and the various ways of dealing with these sorts of problems, than to just simply wait until the whole thing sort of comes unstuck. But you alluded to it rightly earlier on, there there's something in human nature-- and particularly in the human nature of politicians-- that says, look, and I know that there's a problem, but fixing it is going to be really difficult. So let's-- as long as we go through my watch, OK, what's the phrase, "not on my watch". GW: Yeah. WW: And that's just a way of kicking the can down the road. And I'm sympathetic with these people because the character of the problem is very difficult.
Views: 2172 Real Vision
What’s the Best Trade In The Twilight Zone? (w/ Kyle Bass) | Interview | Real Vision™
 
02:42
Watch the interview in full (and more) on Real Vision. Start your 7-day free trial: http://rvtv.io/2w6PpYX Investing legend Kyle Bass sets out what he sees as the Best Trade in the World right now, exploiting market volatility going forward, as well some perspectives on the future for cryptocurrencies. Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube:http://po.st/RealVisionSubscribe About The Interview: Unfiltered, long-form deep dives with the most successful investors in the world. In discussions across a range of subjects, we dig into the minds of the sharpest investors to find out what makes them tick. If you’ve ever wanted to learn from the best, this series is where to go. About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ What’s the Best Trade In The Twilight Zone? (w/ Kyle Bass) | Interview | Real Vision™ https://www.youtube.com/c/RealVisionTelevision
Views: 3762 Real Vision
Bernanke's Bubbles (w/ Bill Fleckenstein And Jim Grant) | Interview | Real Vision™
 
02:41
Bill Fleckenstein, president of Fleckenstein Capital, joins legendary financial writer Jim Grant to discuss their perspectives on Fleckenstein’s career, the precious metals markets, and the last decade of central bank misbehavior. The esteemed pair break down some of the biggest challenges facing investors today. Filmed October 10, 2018 in New York. Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2QocRLx About The Interview: Unfiltered, long-form deep dives with the most successful investors in the world. In discussions across a range of subjects, we dig into the minds of the sharpest investors to find out what makes them tick. If you’ve ever wanted to learn from the best, this series is where to go. About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ Bernanke's Bubbles (w/ Bill Fleckenstein And Jim Grant) | Interview | Real Vision™ https://www.youtube.com/c/RealVisionTelevision" Transcript: You decided that you would write a book. And I said, Bill-- "I'm experienced in this. You sure you want to do this?" You sat in the board of a precious metals company. I've written books. I told you-- well, anyway, you did it. And as Greenspan's bubbles-- and what year was-- Published in January of '08. There's an interesting little side story, if you'd like to hear it. I would. I don't know that I ever told you the full-- so it turns out that because I had been vociferous in my ranting about him-- Vociferous is a word. --on any TV outlet that would listen, basically, through the stock mania and then through little bits of the real estate mania, McGraw-Hill came to me and asked me if I would be interested in writing a more factual-oriented book to be published about the same time that Greenspan was going to write his own self-congratulatory tome, The Age of Turbulence. And it turns out that there was a board member at McGraw-Hill who was afraid-- he was blaming Greenspan for the crazy stuff that S&P was doing and didn't want S&P to get tarred with what was going to happen in the fall. He saw what was coming. So he wanted somebody to write a critical account of Greenspan. So it turned out to be me. And I remember consulting you about that. And I said, I don't know if I can do this. And you said, there's only one way to find out. You got to sit down and write-- whatever you said-- 2,500 words a day or 3,000 words a day every day until it's done. And so that's what I did. And it came out in early '08, at same time Greenspan's book came out. And let's just say that-- That was a piece of exquisite timing. Yeah, which-- I was just pure serendipitous. And so what's your next book? You said one and done. And even though you've chosen not to go down that path, I am totally in the one-and-done department. Look how much of an impact-- I naively thought not that I was going to change, anyway, but I thought if we just shed a little light on this crazy behavior, where they-- and you so correctly said it-- they're the arsonist, and they get to pretend they're the firemen. They create the bubble. And then they fix it with more of the same. Then let's do it again and do it again. I actually thought that if it was illuminated, people would see it and we could stop the. Nonsense that's how naive I was about that.
Views: 2451 Real Vision
A Value Trader With Values (w/ Eric Cinnamond) | Expert View | Real Vision™
 
03:47
Watch the full interview with Eric Cinnamond, exclusively on Real Vision. Learn how you can become a great investor: http://rvtv.io/2BYZjxW Eric Cinnamond is a noted absolute return small-cap value fund manager with two decades of experience and a long track record of outperformance. But amid recent surging stock market valuations, he shut down his fund and returned his clients' money. In this piece, he explains that decision, forecasts what's ahead for stocks, and reveals the steps of his rigorous research process. Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2qor1Bc About Expert View: The Expert View covers discussions on the topics that really matter, right now. Expert guests answer a series of questions on thematic topics that investors most want to know about, offering informative, actionable, and relevant market insight. It’s like being in the same room as an expert investor and being able to ask all the questions you really want answers to. About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ Closing The Fund - A Value Trader With Values (w/ Eric Cinnamond) | Expert View | Real Vision™ https://www.youtube.com/c/RealVisionTelevision
Views: 2105 Real Vision
The History Of Gold Is The History Of The World | Gold | Real Vision™
 
01:28
Where does gold come from? What does gold represent in different cultures? When did gold start being used as money? This is your chance to watch a new groundbreaking documentary on gold and share it with your family and friends: https://rvtv.io/2JNcGW2 Check out this short animation (and the rest of this brief animation series), narrated by Grant Williams, to find out more about the history of gold: https://www.youtube.com/playlist?list=PL2-78gs9nRfNbf-M8LAJuWxUzeQ3yRxh_ Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2NfusU4 About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with original content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ The History Of Gold Is The History Of The World | Gold | Real Vision™ https://www.youtube.com/c/RealVisionTelevision Full video transcript: The history of the world is the story of gold. So said Canadian billionaire Eric Sprott. Unique in its endurance and rarity, gold has been valuable throughout the history of mankind. When molten iron formed the Earth's core, it pulled most of the gold on the planet down with it. The gold in the Earth's core could make a 13-inch coating across the entire planet's surface, but of course, it could never be recovered. For the earliest civilizations, gold was a store of value, a medium of exchange, as well as a thing of beauty. For the Egyptians, gold represented the sun that gods, their rulers, and eternal life. The Incas described gold as the tears of the sun. And the Greek Author Homer, in the Iliad and the Odyssey, saw gold as wealth for humans, and the glory of the Immortals. The first use of precious metals as money took place around 700 BC with coins struck by the merchants of Libya, which were actually formed from a naturally occurring mixture of gold and silver known as electrum. Gold's unique properties enabled the Templars to create the first banks in 13th century Europe, as people were able to store their gold in one bank and borrow against it elsewhere as they traveled across the continent.
Views: 3279 Real Vision
What happened when Hugh Hendry was kept waiting in Brazil | Grant Williams | Real Vision™
 
02:08
Watch the full interview with Hugh Hendry, exclusively on Real Vision. Learn how you can become a great investor: http://rvtv.io/2nd0epN In the second of his new flagship series, Grant Williams travels to Saint Barthélemy in the Caribbean for a conversation with the founder of Eclectica Asset Management, Hugh Hendry. In a revealing and at times deeply personal discussion, Hugh discusses the rise and fall of Eclectica and explains how his experiences reflect the problems facing the wider hedge fund industry. Hugh also offers his thoughts on the pitfalls of arrogance as well as the pressures that stem from being a free spirit in an increasingly constrained world. In this clip, Hugh recounts a trip to Brazil where a company chief executive kept him waiting a little too long... Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2NfusU4 About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ What happened when Hugh Hendry was kept waiting in Brazil... (w/ Hugh Hendry) | Grant Williams | Real Vision™ https://www.youtube.com/c/RealVisionTelevision
Views: 3029 Real Vision
Black Monday - First Hand Accounts Of The 87 Crash | Adventures in Finance Ep. 38 | Real Vision™
 
01:05:54
SOn the 30th anniversary of Black Monday, we recreate the events of that tumultuous time through the eyes of people who found themselves trying to navigate the biggest drop in Dow Jones history. The legendary Art Cashin takes us behind the scenes at the NYSE, while Bill Fleckenstein, David Hay, Michael Lewitt and Greg Weldon share their personal stories alongside Michael Oliver and Trader Vic – Victor Sperandeo who famously predicted the crash a few weeks before the event. Lastly, we hear the incredible story of hedge fund manager Richard Pomboy whose foresight saved his investors millions. ubscribe to this podcast free on iTunes: http://rvtv.io/2oOwY8b Subscribe to this podcast free on Google Play: http://rvtv.io/2p1hxgh Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2NfusU4 Adventures in Finance Podcast: The Adventures in Finance podcast is the brainchild of Real Vision - a video on demand service for investors. (Like Netflix for Traders.) Taking you way beyond Wall Street with finance stories, investing ideas and sometimes irreverent insight, from some of the most successful minds in finance.. and some you have never heard of. Hosted by Grant Williams, author of ‘Things That Make You Go Hmmm..’ and Co-Founder of Real Vision, and Alex Rosenberg, Co-Head of Editorial for Real Vision. About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ Ep 38: Black Monday - First Hand Accounts Of The 87 Crash | Adventures in Finance | Real Vision™ https://www.youtube.com/c/RealVisionTelevision
Views: 28386 Real Vision
Willem Middelkoop | Gold | Real Vision™
 
01:01:42
The only financial TV that matters. Start a 14-day free trial on Real Vision: https://rvtv.io/2OKW04d Real Vision is the video on demand platform for finance, where the world's best investors share their ideas. In this episode of the Gold series, Willem Middelkoop, founder of the Commodities Discovery Fund, dives into the history of monetary shifts and explores a scenario where the US dollar could be debunked as the global reserve currency. Willem discusses the possibility of gold being incorporated back into the monetary system, outlining the knock-on effects and the role of central banks in this scenario. Enjoy this entire interview and leave your questions, comments, opinions, favorite quotes, and analysis in the comments. Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ Willem Middelkoop | Gold | Real Vision™ https://www.youtube.com/c/RealVisionTelevision
Views: 100649 Real Vision
Short Selling Is like Life Saving (w/ Marc Cohodes) | Grant Williams | Real Vision™
 
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Watch this full interview with Grant William and Marc Cohodes exclusively on Real Vision. Learn how you can become a great investor: http://rvtv.io/2BC9hXi In this clip, Marc Cohodes explains how the 'reach, throw, row, go' life-saving technique he learnt as a camp counselor can apply to shorting stocks. Real Vision's new flagship interview series premieres, as famed short seller Marc Cohodes joins Grant Williams for a candid and emotionally raw interview. In the first in a series of extended discussions with successful investors, Grant asks Marc about his short selection process, the difficulty of managing emotions when embroiled in a fight and his current battles with a series of companies he believes to be fraudulent. Marc offers a vicious takedown of biotech company MiMedx, and shares a gut-wrenching story of losing money during 2008, despite being perfectly positioned. Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2NfusU4 About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ When Short Selling Is like Life Saving (w/ Marc Cohodes) | Grant Williams | Real Vision™ https://www.youtube.com/c/RealVisionTelevision
Views: 4496 Real Vision
Can Japan Get Away With A Debt Wipeout? (w/ Bill Fleckenstein) | Interview | Real Vision™
 
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Watch the interview in full (and more) on Real Vision. Start your 7-day free trial: http://rvtv.io/2yXT2Fr Bill Fleckenstein runs through the potential impact and fallout of a debt jubilee by a G7 member, suggesting Japan is a more obvious candidate than the US. In conversation with Grant Williams, Bill runs through the likely repercussions of such a move, nearly a decade into the black hole of finance. Plus, we also get to hear the legendary short seller’s assessment of today’s insane markets. Watch the full interview with Mark Cuban with a 14-day free pass for Real Vision here: http://rvtv.io/2zJqyzJ Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube:http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2NfusU4 About The Interview: Unfiltered, long-form deep dives with the most successful investors in the world. In discussions across a range of subjects, we dig into the minds of the sharpest investors to find out what makes them tick. If you’ve ever wanted to learn from the best, this series is where to go. About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ Can Japan Get Away With A Debt Wipeout? (w/ Bill Fleckenstein) | Interview | Real Vision™ https://www.youtube.com/c/RealVisionTelevision
Views: 8666 Real Vision
Why Invest In Aviation (w/ Marc Lasry) | Interview | Real Vision™
 
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From co-owning Milwaukee’s NBA franchise to working with multiple U.S. presidents, Marc Lasry has worn many hats during his career. However, the co-founder of Avenue Capital Group says his core strategy for making money today does not resemble the approach he took a decade ago. In this in-depth interview, Lasry speaks with Illinois State Board of Investment chairman Marc Levine about running a successful hedge fund, finding value in Europe and Asia, and why he loves opportunities in aviation. Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2NfusU4 About The Interview: Unfiltered, long-form deep dives with the most successful investors in the world. In discussions across a range of subjects, we dig into the minds of the sharpest investors to find out what makes them tick. If you’ve ever wanted to learn from the best, this series is where to go. About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with orginial content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ Why Invest In Aviation (w/ Marc Lasry) | Interview | Real Vision™ https://www.youtube.com/c/RealVisionTelevision Transcript: So Avenue Aviation is a fund that-- that's actually how we met originally. And that's an asset that you've invested in back in the multi-- when you were doing multiple strategies, and then like energy, carved out. So can you sort of describe that business the way you do it? Sure. So really what you're doing is you're buying a hard asset. That's what a plane is. So think of it this way. Everybody wants a new plane. And the reason people are buying new planes, every five, 10 years, new technology comes out. And you add lighter frames, so you are saving money on fuel costs. And that was the biggest -- other than the new technology -- the biggest expense for airlines is really the fuel costs. So think of a car -- same thing. Everybody wants a new car. And you want it because of new technology, and it's more miles to the gallon. Now when all of a sudden oil goes from $100 to $50, you're not really as focused on saving money on fuel. So where we saw that there was a huge opportunity is end-of-life planes. That planes that used to cost $100 million when they were new, 15 years later, 20 years later, those same planes are $5 million. So you can buy those planes – think of it again as a car. So a 20-year-old car, whetherit's a Mercedes or it's a Ford or whatever, it's still a 20-year-old car. So you're going to pay what? $1,000, $500 for the car. But that car is still doing the same thing as every new car does. It gets you from point A to point B. And when you take a look at what's happened in the aviation side, we now-- today, if you're an airline, it's better or it's cheaper for an airline to keep flying older planes because what it's costing them on fuel costs, they're more than making up by not spending $100 million for a new plane. So what you're seeing in that space is that airlines are leasing older planes. So if you fly, when you came out here, you didn't look at it and go, wow, am I on a new plane or not? You just want to go from Chicago to here. And airlines know that. So they're making actually a lot more money today. And for us, they're leasing those older planes. So we buy those planes, lease them out, and we pretty much get back our cost over three years or four years. And now you still have the value of that plane. So what is a 20-year-old plane-- if it's worth $5 million today, what's it worth in five years? Still $5 million-- $4 million. It's already at-- and the reason-- it's at its liquidation value. And what I mean by that is we bought three planes for $5 million each. They had 12 engines. So what did we do with those planes? Well, right after we bought them, somebody needed engines. So we sold nine of the engines. But we sold nine of the engines for $16 million. So we sold nine of the engines for more than we had bought the all the planes. And now what do we have? We have three planes, can't really fly them. So all you do is part it out.
Views: 1885 Real Vision
The Gold Standard | Gold | Real Vision
 
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How is gold different to fiat currency? What’s the connection? And will we ever return to a gold standard or gold as the world reserve currency? This is your chance to watch a new groundbreaking documentary on gold and share it with your family and friends:https://rvtv.io/2JJTybb Check out this short animation, narrated by Grant Williams, to find out more about the history of gold: https://www.youtube.com/playlist?list=PL2-78gs9nRfNbf-M8LAJuWxUzeQ3yRxh_ Watch more Real Vision™ videos: http://po.st/RealVisionVideos Subscribe to Real Vision™ on YouTube: http://po.st/RealVisionSubscribe Start a 14-day free trial: https://rvtv.io/2NfusU4 About Real Vision™: Real Vision™ is the destination for the world’s most successful investors to share their thoughts about what’s happening in today's markets. Think: TED Talks for Finance. On Real Vision™ you get exclusive access to watch the most successful investors, hedge fund managers and traders who share their frank and in-depth investment insights with no agenda, hype or bias. Make smart investment decisions and grow your portfolio with original content brought to you by the biggest names in finance, who get to say what they really think on Real Vision™. Connect with Real Vision™ Online: Linkedin: https://rvtv.io/2xbskqx Twitter: https://rvtv.io/2p5PrhJ The Gold Standard | Gold | Real Vision https://www.youtube.com/c/RealVisionTelevision
Views: 2619 Real Vision

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