The Plutonomix Podcast: Recent Episodes
Laurie Kamhi and Barnaby Levin
Welcome to the Plutonomix Podcast with Laurie Kamhi and Barnaby Levin: Two Perspectives on Wealth and Investing in 10 Minutes or Less. The word “Plutonomics” means the “Study of Wealth” – and it is our Mission to educate – To help Clients think about their Goals and how they might benefit from working with an Advisor to achieve them. But more importantly, it’s to make sure our Listeners understand both the PROs and CONs of any issue So they can make Informed Decisions and Increase the Odds of finding the “Right” answer, for them.
In this week’s episode of the Plutonomix Podcast, Barnaby discusses recent, political developments and how they and some of the other key events on Tap might affect the Markets between now and the November election.
Enjoy! =)
TIMESTAMPS
(01:00) Out of the Running
(02:00) "Last Piece of the Puzzle"
(03:05) Could it be Michelle?
(05:30) What effect will Kamala have on the Markets?
(06:30) What's next?
(08:05) Election Day! and "The Battle of the Haves and Have Nots"
RESOURCES
- What I Think I Know by Barnaby Levin
- The Illusion of Knowledge by Howard Marks
- Closing Technique of the Week: The Ben Franklin Close
- CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton
- Contact Barnaby
In this week’s episode of the Plutonomix Podcast, Laurie was out of town so, on his own, Barnaby discusses the shifting sands of globalization and its implications for economies and businesses worldwide. As he navigates the complexities of supply chain disruptions and the revival of domestic manufacturing, he offers listeners a nuanced perspective on the ongoing transformation to more regionalized strategies. From Boeing's cautionary tale to BlackRock CEO Larry Fink's commentary on the Ukraine crisis, the episode weaves together various threads that portray a future in which things may simply have come full circle.
TIMESTAMPS
(01:00) Is Globalization Dead?
(01:58) The Pendulum has Swung, driving the Need to Reassess
(03:00) The Lessons of Boeing: You're only as Strong as your Weakest Link
(05:10) Vertical Integration versus "Just in Time"
(06:50) Coming Full Circle: Reshaping "Globalization"
(07:45) The Unintended Consequences of California's Minimum Wage Hike
(09:55) Finding the Balance
RESOURCES
- What I Think I Know by Barnaby Levin
- The Illusion of Knowledge by Howard Marks
- Closing Technique of the Week: The Ben Franklin Close
- CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton
- Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023
- Contact Barnaby
- Contact Laurie
Hightower Advisors, LLC is an SEC registered investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi explore the blurred lines between technology, media and telecommunications, often referred to as "TMT." They discuss the convergence of these Sectors -- and of various Industries, in general -- and, as a result, the challenges and impact they're having on investors and consumers alike. With insights into the changing landscape of content consumption -- and the need for capital and accessibility -- Barnaby and Laurie share their perspectives on investing in the evolving world of TMT.
TIMESTAMPS
(01:55) The blurring lines between Sectors and Industries
(03:45) Questions raised by this Convergence
(04:55) My, how things have changed
(06:00) First Principles and doing your Due Diligence
(06:50) Shakeups that don't always end well
(08:15) The Genie's out of the bottle for Artificial Intelligence
(09:05) The need for capital and accessibility in technology
(09:50) The Value of investing in the Media and Social Media sectors
RESOURCES
- What I Think I Know by Barnaby Levin
- The Illusion of Knowledge by Howard Marks
- Closing Technique of the Week: The Ben Franklin Close
- CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton
- Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023
- Contact Barnaby
- Contact Laurie
Hightower Advisors, LLC is an SEC registered investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi discuss the growing wealth divide and the consequences it will have on the economic and investment landscape - including something now referred to as "Money Dysmorphia." They explore the impact the pending, $72 Trillion transfer of wealth from Boomers to younger generations might have in the midst of this and the risks associated with being the beneficiary of sudden wealth. Barnaby and Laurie also touch on the potential benefit dividends can have in stock-picking strategies and the need for alternative investments when faced with market volatility. And they remind listeners of the importance of patience and preparation when navigating times of economic and political uncertainty.
TIMESTAMPS
(01:22) How growing inequality may lead to "The Battle Between the HAVES & HAVE NOTS"
(03:07) The pending transfer of wealth from Boomers to younger generations
(05:00) Money Dysmorphia
(06:37) The potential comeback of the Dividend Discount Model
(07:58) Battening down the hatches in uncertain times
(09:03) The importance of planning ahead, with or without an advisor
(09:53) "All that glitters is not gold"
RESOURCES
- What I Think I Know by Barnaby Levin
- The Illusion of Knowledge by Howard Marks
- Closing Technique of the Week: The Ben Franklin Close
- CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton
- Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023
- Contact Barnaby
- Contact Laurie
Hightower Advisors, LLC is an SEC registered investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi discuss the increasingly relevant topic of wealth management and the socioeconomic challenges facing different demographics. Barnaby and Laurie talk about issues related to Social Security's sustainability and the impending, economic consequences due to the disparity between the 'haves' and the 'have nots' (that is, those that have wealth and those who do not). They look at the urgent need for reform in government spending and how these changes could positively impact personal investment strategies, if done. They also discuss the implications of large wealth transfers from one generation to the next, emphasizing the importance of financial literacy and responsibility.
TIMESTAMPS
(02:00) Concerns about the affordability of buying a home
(02:57) Unsustainability of the Social Security system
(04:53) Potential impact of AI on productivity and GDP
(05:52) Need for political reform and shared responsibility
(07:29) Risks and challenges of transferring wealth to younger generations
(08:52) Urgent reform needed for Social Security and Medicare
RESOURCES
- What I Think I Know by Barnaby Levin
- The Illusion of Knowledge by Howard Marks
- Closing Technique of the Week: The Ben Franklin Close
- CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton
- Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023
- Contact Barnaby
- Contact Laurie
Hightower Advisors, LLC is an SEC registered investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi start with a quick recap how the emergence of Unionization may be a manifestation of the "Battle between the HAVES and HAVE NOTS." Continuing with that larger theme, their focus today is on Housing -- how it's contributing to Wealth Inequality and its impact on different age groups. They analyze statistics, trends and predictions related to housing prices, homeownership, mortgage rates and Supply & Demand dynamics. They also highlight the challenges faced by potential homebuyers and the effect Demographic shifts will have on this.
TIMESTAMPS
(01:25) Recap of the emergence of Unionization as a Manifestation
(02:49) Returns for Housing versus the Stock Market
(03:46) Housing's impact on Wealth Inequality
(04:50) Barriers to Entry
(05:45) Different Perspectives on potential Supply & Demand dynamics in the Housing market
(08:00) Taking things with a Grain of Salt, what should people do?
(09:00) The biggest Winners and Losers
(09:25) Draft Kings and Taylor Swift
RESOURCES
- What I Think I Know by Barnaby Levin
- The Illusion of Knowledge by Howard Marks
- Closing Technique of the Week: The Ben Franklin Close
- CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton
- Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023
- Contact Barnaby
- Contact Laurie
Hightower Advisors, LLC is an SEC registered investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi discuss the growing battle between the "Haves" and "Have Nots." They focus on the rise of Unions; the influence of Gen Z; and how Gen X might help. They not only explore the historical perspective of labor unions - and how their original purpose was to protect workers' rights - but also the role Management has played in exacerbating the widening, wage disparity and feelings of resentment between the two. However, they also highlight the negative impact unions can have on the 90% of the workforce who aren't members. Finally, while acknowledging the potential consequences of a society filled with anger and driven by impulsive behavior, Barnaby and Laurie provide investment strategies for navigating this changing landscape, including private credit, artificial intelligence and essential services.
TIMESTAMPS
[01:35] The Battle between the "Haves" and "Have Nots"
[07:12] Wage disparities and their effect on Society
[06:08] The impact of Unions on workers and the economy, positive and negative
[09:30] The influence of Social Media when it's people primary source for news
[10:21] Investing strategies in a divided world
[11:47] Planning for the future and the Power of Compounding
RESOURCES
- What I Think I Know by Barnaby Levin
- The Illusion of Knowledge by Howard Marks
- Closing Technique of the Week: The Ben Franklin Close
- CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton
- Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023
- Contact Barnaby
- Contact Laurie
Hightower Advisors, LLC is an SEC registered investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi remind listeners what three of the biggest risks facing the Market and the global economy are. They analyze the viewpoints of three, highly regarded investors and share their own insights on volatility; the conflict between the US and China over Taiwan; and the battle between the "Haves" and "Have Nots." Barnaby and Laurie then highlight the important role Generation X may play in shaping politics and the future of our country.
TIMESTAMPS
00:37 Reiterating three of the biggest risks to the Market
02:03 Conclusions regarding two of them, including the potential conflict over Taiwan
04:40 The importance of Demographics and generational shifts
06:05 The significance of Generation X
08:17 Neil Howe's "Fourth Turning" and the Battle of the "Haves" and "Have Nots"
10:39 "Where you Sit depends on where you Stand"
RESOURCES
- What I Think I Know by Barnaby Levin
- The Illusion of Knowledge by Howard Marks
- Closing Technique of the Week: The Ben Franklin Close
- CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton
- Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023
- Contact Barnaby
- Contact Laurie
Hightower Advisors, LLC is an SEC registered investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi discuss the insights shared by three, highly-regarded investors in an interview on Bloomberg's "Next Big Risk." They explore the potential conflicts between the U.S and China over Taiwan; the battle between the "Haves" and "Have Nots;" and the consequence of zero interest-rate policies and Quantitative Tightening on Market behavior. Laurie and Barnaby provide their own perspectives on these issues and emphasize the importance of understanding the deeper patterns at work in order to adapt to future events.
TIMESTAMPS
02:05 US-China conflict; Wealth Inequality; and Market sell-offs
03:35 Zero interest-rate policies; debt; and their impact on the Market
06:00 Historical context of China's perspective on Taiwan (and why it matters)
10:15 The Impact of younger generations on Social Change
11:40 "The Shadow our Past projects in Front of Us" and the importance of recognizing patterns
RESOURCES
- What I Think I Know by Barnaby Levin
- The Illusion of Knowledge by Howard Marks
- Closing Technique of the Week: The Ben Franklin Close
- CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton
- Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023
- Contact Barnaby
- Contact Laurie
In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi discuss the importance of speaking openly about money, emphasizing the need for couples to align their financial goals and have regular discussions on how best to get there, together. They highlight the significance of preparing for unexpected events, such as death or divorce, by sharing passwords and ensuring all financial information is readily accessible, in such an event. And they point out the benefits -- when families do speak openly -- it can provide through reduced stress; increased understanding; and, ultimately, greater happiness.
TIMESTAMPS
02:00 Raising resilient, self-reliant kids
03:45 The importance of open communication about money in relationships
04:50 "Begin with the End in Mind" when discussing finances
06:20 It's never too early or too late to develop good money habits
06:50 Preparing for unexpected events, like death or divorce
07:35 Keeping financial information safe, but available
RESOURCES
- What I Think I Know by Barnaby Levin
- The Illusion of Knowledge by Howard Marks
- Closing Technique of the Week: The Ben Franklin Close
- CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton
- Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023
- Contact Barnaby
- Contact Laurie
Hightower Advisors, LLC is an SEC registered investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi discuss the recent, bipartisan passage of the Debt Ceiling under the leadership of Kevin McCarthy in the House. With the Fed finally deciding to Pause, they say this may allow us to avoid a Recession, with the caveat Treasury will now need to sell a trillion dollars of new debt to fund current spending, which may lead to an increase in rates as well. They also highlight the challenges faced by regional banks due to commercial loans coming due and the impact vacancies will have on Debtors ability to service their debt. Finally, they look back on a few of their more recent predictions, which have proven prescient.
TIMESTAMPS
01:25 The McCarthy Compromise
03:25 Pent up Demand
03:45 The Notion of Rolling Recessions
05:50 Dispersion Among the Pundits
06:40 The PEG Ratio: Focus on Price to Earnings Growth
08:25 A Stock Picker's Market
09:25 Ahead of the Curve with Some of Their Biggest Predictions
RESOURCES
- What I Think I Know by Barnaby Levin
- The Illusion of Knowledge by Howard Marks
- Closing Technique of the Week: The Ben Franklin Close
- CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton
- Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023
- Contact Barnaby
- Contact Laurie
In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi discuss investment tips for navigating a potential Recession. They suggest raising Cash and allocating some part of that to short-term Treasuries while, from a longer-term perspective, they consider everything from Distressed and Floating-Rate debt; to Small-Cap stocks; and (for those with a contrarian bent) Commercial Real Estate. However, when it does come to Small Cap at this point of the economic cycle, they stress the importance of diversification, as there will be "blow-ups."
TIMESTAMPS
[01:50] The Bond Market is betting on Recession
[03:20] Giving Voice to the Minority
[05:00] A true Balanced Budget Amendment
[06:00] The notion of a "Rolling" Recession
[08:45] Start by Building a Reserve
{11:00] From Affordable Housing and Healthcare to Small-Business Lending
RESOURCES
- What I Think I Know by Barnaby Levin
- The Illusion of Knowledge by Howard Marks
- Closing Technique of the Week: The Ben Franklin Close
- CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton
- Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023
- Contact Barnaby
- Contact Laurie
In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi examine the lessons they hope we've learned from the Fall of Silicon Valley Bank -- the need for new limits and greater transparency; who's really to blame; and the consequences those responsible may (in their opinion) merit. They also explore some of the alternatives available to investors looking for higher yield and Preservation of Capital, while explaining the pros and cons of each.
TIMESTAMPS
1:24 It wasn’t Any One Thing. But Whose Money is it Anyway!
3:11 Speaking of First Republic
4:38 Protecting your Deposits
6:32 Should we Stick With (or Short) the Dollar?
8:47 Like Stan says
RESOURCES
- What I Think I Know by Barnaby Levin
- The Illusion of Knowledge by Howard Marks
- Closing Technique of the Week: The Ben Franklin Close
- CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton
- Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023
- Contact Barnaby
- Contact Laurie
Hightower Advisors, LLC is an SEC registered investment adviser. Securities are offered through Hightower Securities, LLC, Member FINRA/SIPC.
In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi focus on the fall of Silicon Valley Bank and its impact on the industry. They discuss the factors leading to the Bank's demise, starting with poor judgement on the part of Leadership when investing Clients' On Demand Deposits. Barnaby and Laurie then explain how this and the failure of the Bank's Auditors has compromised trust -- in the Industry and the Federal Reserve -- and (hopefully) a few lessons we've all learned from it all.
TIMESTAMPS
01:41 Credit Suisse and The Fall of Silicon Valley Bank
04:03 When Things Started to goWrong - and Who was to Blame
12:04 FDIC Insurance and the Bank Deposit Program
14:37 The Role of the Federal Reserve in Maintaining Financial Stability
16:19 Dealing with the Financial Turmoil by taking a Pause and Raising the Limit
RESOURCES
- What I Think I Know by Barnaby Levin
- The Illusion of Knowledge by Howard Marks
- Closing Technique of the Week: The Ben Franklin Close
- CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton
- Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023
- Contact Barnaby
- Contact Laurie
Hightower Advisors, LLC is an SEC registered investment adviser. Securities are offered through Hightower Securities, LLC, Member FINRA/SIPC.
In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi talk about the Power of Compounding and how to maximize your savings with very little effort.
"Compounding" can either refer to earning interest on your interest (by reinvesting what you earn at the same or higher rate) or by "letting your Winners Run." Either way, they show how it can have a "Snowball Effect," where small actions -- taken consistently -- can lead to big results, creating financial resilience through disciplined and deliberate planning.
TIMESTAMPS
01:15 Asset Allocation and Investment Strategy
01:33 The Eighth Wonder of the World
02:11 The Rule of 72
05:12 The Pareto Principle
09:59 Perks in the Tax Code
RESOURCES
- What I Think I Know by Barnaby Levin
- The Illusion of Knowledge by Howard Marks
- Closing Technique of the Week: The Ben Franklin Close
- CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton
- Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023
- Contact Barnaby
- Contact Laurie
Hightower Advisors, LLC is an SEC registered investment adviser. Securities are offered through Hightower Securities, LLC, Member FINRA/SIPC.
In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi discuss Asset Allocation (the process of balancing a portfolio's potential for Risk versus Reward) by adjusting the percent invested in each asset or asset class according to a person's Goals; Timeline; and tolerance for Volatility. They emphasize the need to have tempered expectations -- while allowing time for the power of compounding to work its "magic" -- and to proactively maximize savings by investing consistently, through the Market's ups and downs.
TIMESTAMPS
1:06 What is Asset Allocation
3:08 Investing to achieve Long-Term Goals
6:31 Concentration, Focus and the Power of Compounding
9:27 Valuation and Investment Strategies in a Low-Interest Rate Environment
RESOURCES
- What I Think I Know by Barnaby Levin
- The Illusion of Knowledge by Howard Marks
- Closing Technique of the Week: The Ben Franklin Close
- CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton
- Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023
- Contact Barnaby
- Contact Laurie
Hightower Advisors, LLC is an SEC registered investment adviser. Securities are offered through Hightower Securities, LLC, Member FINRA/SIPC.
In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi delve into the world of "Non Fungible Tokens" (or "NFTs") with Jake Spinowitz, Head of Community at Courtyard IO. They explain "Smart Contracts;" share thoughts on why NFTs were initially created (and, perhaps, who they benefit most); and what the primary differences between the three categories of Open Marketplaces are. They also discuss the very real risks of investing in NFTs (including volatility in price and value), which add another layer of risk on top of the Crypto Currencies, in which they're denominated, themselves.
TIMESTAMPS
[1:02] Introduction to Jake Spinowitz, Head of Community at Courtyard IO
[2:27] What is an NFT?
[3:13] The value of Non-Fungible Tokens
[7:10] NFT marketplaces and giving artists more control
[9:23] Using technology as proof of ownership and identity
RESOURCES
- What I Think I Know by Barnaby Levin
- The Illusion of Knowledge by Howard Marks
- Closing Technique of the Week: The Ben Franklin Close
- CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton
- Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023
- Contact Barnaby
- Contact Laurie
Hightower Advisors, LLC is an SEC registered investment adviser. Securities are offered through Hightower Securities, LLC, Member FINRA/SIPC.
In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi continue their conversation on “Risk & Reward,” discussing (again) the importance of understanding what risk means for you. They suggest, when it comes to defining "Risk," how it might be better to think in terms of "Acceptable" versus "Un-Acceptable" and, given the current market environment, share some thoughts where and how to invest.
TIMESTAMPS
- [01:43] Understanding risk and the misleading nature of "Beta" and "Standard Deviation"
- [05:29] Assessing risk in the global economy
- [08:41] Exploring investment opportunities in a low-interest rate environment
- [10:34] Bond market yields and forming good financial habits
- [12:11] Investment strategies for financial security
RESOURCES
- What I Think I Know by Barnaby Levin
- The Illusion of Knowledge by Howard Marks
- Closing Technique of the Week: The Ben Franklin Close
- CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton
- Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023
- Contact Barnaby
- Contact Laurie
Hightower Advisors, LLC is an SEC registered investment adviser. Securities are offered through Hightower Securities, LLC, Member FINRA/SIPC.
In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi talk about the need to redefine "Risk & Reward." After sharing some of the more traditional definitions, they explain how emotional considerations are just as important as monetary ones because both are critical to our well-being.
TIMESTAMPS
- [00:01] Intro
- [01:24] “Low Risk” no longer IS
- [03:10] “Fear Of Missing Out”
- [07:24] Financial planning and Expected Rates of Return
- [09:32] Gen Z and Millenials: work-life balance
- [10:57] Outro
RESOURCES
- What I Think I Know by Barnaby Levin
- The Illusion of Knowledge by Howard Marks
- Closing Technique of the Week: The Ben Franklin Close
- CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton
- Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023
- Contact Barnaby
- Contact Laurie
Hightower Advisors, LLC is an SEC registered investment adviser. Securities are offered through Hightower Securities, LLC, Member FINRA/SIPC.
Hightower Advisors, LLC is an SEC registered investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, it's Laurie's turn to talk about the importance of the upcoming, midterm elections on November 8th and what outcomes may already be priced into the stock and bond markets. She explains what economists are truly concerned about and -- regardless of the election outcomes -- compares predictions for the coming year to historical moments and why (as Barnaby suggested last time) the stock market often prefers a stalemate TIMESTAMPS [00:01] Intro [01:19] The importance of the upcoming midterms [03:50] Inflation, Stagflation and the threat of a Wage-Price Spiral [06:37] De-globalization and current supply chain disruptions [10:21] Reposition yourself with long-term money [12:50] Outro
RESOURCES https://levin.hightoweradvisors.com/resources/equus-report-what-i-think-i-know.pdf (What I Think I Know) by Barnaby Levin https://www.oaktreecapital.com/insights/memo/the-illusion-of-knowledge (The Illusion of Knowledge) by Howard Marks https://medium.com/swlh/closing-technique-of-the-week-the-ben-franklin-close-2bda69c87b6 (Closing Technique of the Week: The Ben Franklin Close) CNBC:https://www.cnbc.com/video/2022/09/27/the-fed-has-not-made-a-compelling-case-for-taming-inflation-by-crushing-demand-says-judy-shelton.html ( The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton) https://www.youtube.com/watch?v=T1s7O40DDBQ (Stan Druckenmiller says he'd be 'stunned' if recession doesn't happen in 2023) https://levin.hightoweradvisors.com/barnaby-levin.html (Contact Barnaby) https://lck.hightoweradvisors.com/laurie-kamhi.html (Contact Laurie)
Hightower Advisors, LLC is an SEC registered investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Barnaby Levin talks about forecasts and (given people's natural inclination to base their decisions on Assumptions) whether they can ever be of any value. Either way, he discusses the impact forecasts do have on investing and, in the end, asks whether the Fed or the upcoming, Mid-Term Election is more important, longer term. TIMESTAMPS [00:01] Intro [01:02] Do forecasts really help? [04:10] Cognitive dissonance [06:27] The impact on investing [13:10] What could happen with Mid-term elections 14:34] Outro
RESOURCES https://levin.hightoweradvisors.com/resources/equus-report-what-i-think-i-know.pdf (What I Think I Know) by Barnaby Levin https://www.oaktreecapital.com/insights/memo/the-illusion-of-knowledge (The Illusion of Knowledge) by Howard Marks https://medium.com/swlh/closing-technique-of-the-week-the-ben-franklin-close-2bda69c87b6 (Closing Technique of the Week: The Ben Franklin Close) CNBC: https://www.cnbc.com/video/2022/09/27/the-fed-has-not-made-a-compelling-case-for-taming-inflation-by-crushing-demand-says-judy-shelton.html (The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton) https://www.youtube.com/watch?v=T1s7O40DDBQ (Stanley Druckenmiller says he'd be 'stunned' if recession doesn't happen in 2023) https://levin.hightoweradvisors.com/barnaby-levin.html (Contact Barnaby) https://lck.hightoweradvisors.com/laurie-kamhi.html (Contact Laurie)
Hightower Advisors, LLC is an SEC registered investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Barnaby Levin continues his and Laurie's discussion on land on his own, while she's traveling. He recaps the history and transfer of ownership between farmers and institutions and why (in this case) it's important for government to get more involved, so we don't lose control of our own food and water supply to other nations. He also talks about the pros and cons of farm-related investments. TIMESTAMPS [00:01] Intro [02:06] Ownership transfers from farmers to institutions [05:51] The Pros and Cons of investing in farmland and other, farm-related industries [08:38] The solution lies in innovation [09:18] Outro
RESOURCES https://www.tvguide.com/videos/gone-with-the-wind/2000004856/gone-with-the-wind-scene-land-is-the-only-thing-that-lasts/3586919/ (Gone With The Wind Scene: Land Is The Only Thing That Lasts) https://www.reuters.com/business/environment/us-corn-based-ethanol-worse-climate-than-gasoline-study-finds-2022-02-14/ (U.S. corn-based ethanol worse for the climate than gasoline, study finds) https://www.vaneck.com/us/en/etf/equity/moo/fact-sheet/ (VanEck Agribusiness ETF) https://www.invesco.com/us-rest/contentdetail?contentId=f919e01e98630410VgnVCM10000046f1bf0aRCRD&dnsName=us (Invesco DB Agriculture Fund) https://www.investopedia.com/terms/p/pick-and-shovel-play.asp (Pick-and-Shovel Play) https://levin.hightoweradvisors.com/barnaby-levin.html (Contact Barnaby)
Hightower Advisors, LLC is an SEC registered investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin begin with a reminder of the pending collapse of our Social Security and Medicare systems. They recommend a few, incremental actions they hope we'll take as a Country and some things in which to invest -- turning, today, to farming and farmland, where they first address some key issues for context. Hightower Advisors, LLC is an SEC registered investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
Hightower Advisors, LLC is an SEC registered investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In the next two episodes of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin focus on the critical consequences of one of the country's more-important, demographic trends: the Aging of the Baby Boomers. This week, they discuss some of the problems and challenges this transition will pose. TIMESTAMPS [00:01] Intro [02:34] Are the Baby Boomers ready for retirement? [06:06] Elderly Americans who need a caregiver today [09:54] a Green Card and path to Citizenship, for foreign students after they graduate [11:29] Outro
RESOURCES https://www.brookings.edu/articles/the-aging-of-america-will-the-baby-boom-be-ready-for-retirement/ (The Aging of America: Will the Baby Boom Be Ready for Retirement?) by William G. Gale https://levin.hightoweradvisors.com/barnaby-levin.html (Contact Barnaby) https://lck.hightoweradvisors.com/laurie-kamhi.html (Contact Laurie)
Hightower Advisors, LLC is an SEC registered investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin continue their conversation about what's going on in the world around us, discussing what to do when "shift" happens. They share how to discern the "facts," amidst all the claims and statements being made, with advice that follows the Carpenter’s Rule: measure twice, cut once. Hightower Advisors, LLC is an SEC registered investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin discuss one of the core tenets of financial planning: the fact that things change. They explain why it’s important to anticipate and monitor the world around us, so we can learn to adapt quickly when they do. And they share a few books that can help build the mindset to do so. Hightower Advisors, LLC is an SEC registered investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin discuss Capitulation ("the act of surrendering or ceasing to resist") given what's going on in Markets today. Hightower Advisors, LLC is an SEC registered investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin revisit their discussion on Demographics -- and how they may help us predict the future. Hightower Advisors, LLC is an SEC registered investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin reiterate a few key points they’ve made in previous episodes, including globalization and foreign exchange, to consider the impact this will have on investments. They also share where they feel people might want to turn their focus going forward as a result. Hightower Advisors, LLC is an SEC registered investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin explore the question: Is "Globalization" itself Dead? Countries are beginning to question — not only their currency dependencies — but (given the strain on the world's Supply Chains and fact we’re running out of key, raw materials) their Dependencies in general. Hightower Advisors, LLC is an SEC registered investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin discuss what it means to be the “Global Reserve Currency” -- and the advantages that has for the Dollar. Hightower Advisors, LLC is an SEC registered investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin discuss foreign exchange, currency risk and ultimately the dollar’s role as the world’s reserve currency. Hightower Advisors, LLC is an SEC registered investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin discuss the potential effects of the current Ukraine-Russia crisis; consider the short term risks; and what the impact will be of cutting off 40% of Europe’s gas and energy supplies. Hightower Advisors, LLC is an SEC registered investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin continue their discussion on the predictions that are making the rounds from well-known and highly respected portfolio managers, Jeremy Grantham and Ray Dalio. Hightower Advisors, LLC is an SEC registered investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin share predictions from well-known and highly respected portfolio managers, Jeremy Grantham and Ray Dalio. Hightower Advisors, LLC is an SEC registered investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin discuss the "January Effect," which can create opportunities in stocks at the start of the new year. Hightower Advisors, LLC is an SEC registered investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin continue their conversation on artificial intelligence (AI) and share ways investors can participate in the space. Hightower Advisors, LLC is an SEC registered investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin give an introduction on artificial intelligence (AI) to provide context and a framework to discuss some of the opportunities and ways an investor can participate. Hightower Advisors, LLC is an SEC registered investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin discuss the challenge many of their clients are facing as they raise their children in the age of anxiety. They discuss The Scaffold Effect and how to establish a trust fund. Hightower Advisors, LLC is an SEC registered Investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin explore if we’re on the verge of hyperinflation. Hightower Advisors, LLC is an SEC registered Investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin talk about the pros and cons of active versus passive investing, focusing primarily on stock investing. Hightower Advisors, LLC is an SEC registered Investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin share their thoughts on something they both feel passionate about: education. Hightower Advisors, LLC is an SEC registered Investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin discuss the world of financial technology (fintech) and decentralized finance. Hightower Advisors, LLC is an SEC registered Investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin discuss Environmental, Social, and Corporate Governance (ESG) and impact investing that have evolved into some of the most important trends for businesses, consumers and investors alike. Hightower Advisors, LLC is an SEC registered Investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin discuss Gen Z, currently between the ages of 9 to 25, to consider the impact they’re having on the global economy. Hightower Advisors, LLC is an SEC registered Investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin continue their discussion on China and the prospects of working with China either as frienemies or if that is even possible. They discuss the implications of either outcome on investing. Hightower Advisors, LLC is an SEC registered Investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin discuss China and its history and ideology to provide context for the next episode which will discuss how this will affect long-term investment strategies. Hightower Advisors, LLC is an SEC registered Investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin discuss financial planning and how to create a framework in which investing can and should occur. Hightower Advisors, LLC is an SEC registered Investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin talk about investment strategies in general. They quote some of their favorite portfolio managers to share a few of the most important rules and lessons on managing money. Hightower Advisors, LLC is an SEC registered investment adviser. Securities are offered through Hightower Securities, LLC, Member FINRA/SIPC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin talk about private equity with a primary focus on the venture side. Hightower Advisors, LLC is an SEC registered investment adviser. Securities are offered through Hightower Securities, LLC, Member FINRA/SIPC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin talk about bitcoin explaining just what Bitcoin IS – and how it’s both like and unlike other “Precious Metals,” like Gold and Silver. Hightower Advisors, LLC is an SEC registered investment adviser. Securities are offered through Hightower Securities, LLC, Member FINRA/SIPC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin continue their series on alternative investments with a discussion on precious metals, focusing on gold. They discuss the background and context on the global monetary system in which gold and other precious metals play a role. Hightower Advisors, LLC is an SEC registered investment adviser. Securities are offered through Hightower Securities, LLC, Member FINRA/SIPC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin start their series on alternative investments and talk about hedge funds. Hightower Advisors, LLC is an SEC registered investment adviser. Securities are offered through Hightower Securities, LLC, Member FINRA/SIPC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin talk about bonds and whether they still have a place in portfolios. Hightower Advisors, LLC is an SEC registered Investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin talk about global investing, or international investing, and the geopolitics and risk factors to consider. They also discuss the four Ps and why it’s important to have exposure to emerging markets. Hightower Advisors, LLC is an SEC registered Investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin talk about inflation and deflation and why it’s important to know how these factor into the value and purchasing power of our money and investments.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin talk about what they think will be some of the biggest trends over the next decade. They offer insights as to how this will affect their investment decisions. Hightower Advisors, LLC is an SEC registered Investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin talk about President Joe Biden's tax plan and the potential impacts on investments. Hightower Advisors, LLC is an SEC registered Investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin talk about how demographics can determine how the economy will fare. They discuss the role that demographics play in creating predictable trends which can then help them advise their clients. TIMESTAMPS [00:01] Intro [01:12] Demographics [03:05] How it can impact on the economy [05:43] Important points [07:11] Hurdles and disruptions [08:40] Outro
RESOURCES https://agewave.com/product/age-wave/ (Age Wave: How The Most Important Trend Of Our Time Will Change Your Future) by Ken Dychtwald and Joe Flower https://www.fourthturning.com/ (The Fourth Turning: An American Prophecy - What the Cycles of History Tell Us About America's Next Rendezvous with Destiny) by William Strauss and Neil Howe https://levin.hightoweradvisors.com/barnaby-levin.html (Contact Barnaby) https://lck.hightoweradvisors.com/laurie-kamhi.html (Contact Laurie)
Hightower Advisors, LLC is an SEC registered Investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.
In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin talk about asset allocation, why it’s important and things to consider when you invest. TIMESTAMPS [00:01] Intro [01:05] What is asset allocation and why it’s important [02:47] Three primary drivers in a person’s asset allocation [04:24] Moving a football down the field [06:56] A summary and what to expect in future episodes [08:21] Outro
RESOURCES https://www.franklincovey.com/7-habits-book/ (The 7 Habits of Highly Effective People) by Stephen Covey https://levin.hightoweradvisors.com/barnaby-levin.html (Contact Barnaby) https://lck.hightoweradvisors.com/laurie-kamhi.html (Contact Laurie)
Hightower Advisors, LLC is an SEC registered Investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.