The Plutonomix Podcast: Proz & Conz - A Study of Wealth & Investing: Recent Episodes

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In this week’s episode of the Plutonomix Podcast, Barnaby's catching up with listeners -- to discuss some of the developments that have taken place since Trump's infamous "Independence Day" on April 2nd -- and since 2016, when he wrote a pivotal article, titled "Essential Context." From Portfolio Construction to Market Behavior and the "Battle between the HAVES and HAVE NOTS," he highlights some of the key milestones that have brought us to where we are today.

TIMESTAMPS

(01:00) Essential Context

(01:15) Obama's decision to release $100 Billion in Frozen Assets to Iran

(02:10) Like a big Bathtub

(02:30) Adding Non-Correlated Asset Classes

(03:20) The Battle between the HAVES and HAVE NOTS

(04:00) Teach a Man to Fish

(05:05) Small Caps

(06:30) Concentration and the Power of Compounding

(08:05) That which doesn't kill us, makes us stronger

(09:00) The End of the World

(10:00) People do have Alternatives

(11:10) "A cold, dark night on the side of Everest"

(12:20) Returning to First Principles

(13:20) Charlie Kirk

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

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In this week’s episode of the Plutonomix Podcast, Barnaby reminds listeners that (as he often says) "Where you STAND depends on where you SIT." Like Trump, we may have "dodged a bullet," but now is when the real work begins: to reduce our bloated Government and Deficit; root out and eliminate (perhaps Trillions of dollars in) fraudulent and wasteful spending; and (finally) figure out how best to help people make and keep more of their own money. Most important (however) is to do it in a way that it restores a sense of Pride in what it means to be an "American."

TIMESTAMPS

(01:00) China's Syndrome

(02:45) Mao Zedong and the PRC

(03:45) In a Trap

(05:00) The Irony of TikTok

(05:45) Our "Allies"

(06:20) The EU's "European Commissioner for Competition"

(07:55) But, what about Canada...?

(09:08) RECIPROCITY

(10:20) So here's My Question

(11:05) "Say It Wasn't You"

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

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In this week’s episode of the Plutonomix Podcast, Barnaby reminds listeners that (as Jean Monnet said) "People only accept Change in Necessity and see Necessity only in Crisis." Like Trump - we may have "dodged a bullet" - but now is when the real work begins: to reduce our bloated Government; root out and eliminate (perhaps Trillions of dollars in) wasteful spending; fix the Immigration situation; figure out how to help people make and keep more of their own money; and to restore a sense of Pride in what it means to be "an American."

• This Episode runs a bit longer than usual

TIMESTAMPS

(01:55) Paul Harvey's "If I were the Devil"

(03:30) "The Fountainhead"

(05:00) The "Preference Cascade" - a change in Public Opinion

(06:55) "DOGE" versus "The Deep State"

(11:00) It's Time to step on the Accelerator

(14:15) The Will of the People

(16:00) Jensen Huang's "Resilience" - the Key to Success

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

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In this week’s episode of the Plutonomix Podcast, Barnaby suggests how the Fed – after remaining “On Hold” at 5 ½% since June 2023 – may be “Behind the Curve.” He explains the role the “Phillips Curve” and (now) the “Sahm Rule” have played in the Fed's decision-making process since the 70’s, even though things have changed since Paul Volcker was appointed Fed Chair in 1979. He ends with a reminder how we often base our decisions on False Assumptions -- and how the way we define and react to “Risk” (when seeking to calculate an Expected Rate of Return, years into the future) will make all the difference.

TIMESTAMPS

(01:35) The “Sahm Rule”

(02:35) An Exception to the Rule?

(03:43) The Rise in the Unemployment Rate: Supply & Demand

(04:45) Comparisons to the 1981-82 Recession and The Phillips Curve

(07:35) Volcker versus Draghi: Doing Whatever It Takes

(08:35) The Fed as “Lender of Last Resort”

(10:35) Our Mission -- and defining what “Risk” Truly means

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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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Stephanie Link, Chief Investment Officer at Hightower Advisors, joins host Laurie Kamhi in a Plutonomics episode to discuss the state of the world economy in 2023, addressing rising interest rates, bank failures, inflation, and the potential for a recession. Stephanie emphasizes the need for long-term investing, and monitoring data points related to housing and manufacturing. Stephanie and Laurie discuss opportunities both domestically and internationally while stressing the importance of diversifying investment portfolios.

TIMESTAMPS

01:53 Stephanie’s Intro

09:14 Potential for Recession and How it Impacts Investments

25:18 Gyration in The Markets

40:06 Chat GPT and The Economy

48:20 The Importance of Diversification in a Portfolio

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

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In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi -- after a brief discussion about the Debt Ceiling -- offer 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

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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?

[6:58] Stick with 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

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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 go Wrong - 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

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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

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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

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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

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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

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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

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In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi talk about the current state of crypto and what the future could hold for Bitcoin. They discuss the events leading up to the recent FTX crash; the demise of Sam Bankman-Fried; and the importance of due diligence while rebuilding trust in Bitcoin and the Blockchain network.

TIMESTAMPS

• [00:01] Intro
• [01:04] What has happened with Bitcoin?
• [04:19] Commingling explained
• [11:23] Sam Bankman-Fried and the FTX bankruptcy
• [12:40] Disclosure and limits to borrowing
• [14:20] 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

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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

• 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
• Stan Druckenmiller says he'd be 'stunned' if recession doesn't happen in 2023
• Contact Barnaby
• Contact Laurie

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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

• 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 recession doesn't happen in 2023
• Contact Barnaby
• Contact Laurie

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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

• Gone With The Wind Scene: Land Is The Only Thing That Lasts
• U.S. corn-based ethanol worse for the climate than gasoline, study finds
• VanEck Agribusiness ETF
• Invesco DB Agriculture Fund
• Pick-and-Shovel Play
• Contact Barnaby

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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.

TIMESTAMPS

• (00:01) Intro
• (03:59) Roots of an Uprising
• (05:02) Who owns our Farmland
• (06:03) Investing in Farmland – is it worth it
• (07:31) The Problem with Ethanol
• (09:15) Risks of Foreign Ownership
• (10:42) Other than CFIUS...
• (11:53) Outro

RESOURCES

• Adopt-A-Safta
• 2021 Farmland Value Survey - Iowa State University
• Gone With The Wind Scene: Land Is The Only Thing That Lasts
• Environmental outcomes of the US Renewable Fuel Standard
• The Committee on Foreign Investment in the United States (CFIUS)
• Contact Barnaby
• Contact Laurie

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In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin continue their discussion on the Aging of the Baby Boomers. This week, they discuss the financial impact that 10,000 "Boomers" reaching retirement age, every day until 2030, will have and what they see as opportunities, as a Country and as Investors.

TIMESTAMPS

• [00:01] Intro
• [01:59] Easy steps, like Congress deferring retirement age
• [03:30] Retirees can help solve social challenges
• [06:18] Planning for retirement
• [09:33] Another area of interest: farming and farmland
• [11:18] Investing in certain venture capital and non-profit organizations
• [12:04] Outro

RESOURCES

• Adopt-A-Safta
• Contact Barnaby
• Contact Laurie

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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

• The Aging of America: Will the Baby Boom Be Ready for Retirement? by William G. Gale
• Contact Barnaby
• Contact Laurie

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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.

TIMESTAMPS

• [00:01] Intro
• [02:09] Look forward, not backward
• [06:10] The best cure for high prices
• [11:27] Outro

RESOURCES

• What you're not hearing about what caused today's inflation, and where it's going by Donald L. Luskin
• Trading Places
• The Wealth of Nations by Adam Smith
• The Plutonomix Podcast: Future Trends

• Contact Barnaby

• Contact Laurie

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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.

TIMESTAMPS

• [00:01] Intro
• [02:24] Two impactful books
• [03:16] When do we know Change is coming?
• [05:13] Begin with the End in Mind
• [10:06] Be ready for change
• [12:06] Outro

RESOURCES

• The 7 Habits of Highly Effective People by Stephen Covey
• Who Moved My Cheese? by Spencer Johnson
• Extraordinary Popular Delusions and The Madness of Crowds by Charles MacKay
• Reminiscences of a Stock Operator by Edwin Lefèvre
• Contact Barnaby
• Contact Laurie

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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.

TIMESTAMPS

• [00:01] Intro
• [00:58] Capitulation: Why and Why Not
• [05:51] What the Bond Rout means
• [10:37] It's Human Nature
• [13:56] Outro

RESOURCES

• The Wealth of Nations by Adam Smith
• Fund Managers Holding Most Cash Since 2001: Bank of America
• The Pareto Principle by Barnaby Levin
• Contact Barnaby
• Contact Laurie

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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.

TIMESTAMPS

• [00:01] Intro
• [01:51] Demographics may help to predict the future
• [05:26] Younger generations will decide
• [05:45] What makes them different
• [08:50] Shift towards Unionization
• [11:59] Outro

RESOURCES

• The Plutonomix Podcast: Demographics
• 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
• The Roaring 2000s: Building The Wealth And Lifestyle You Desire In The Greatest Boom In History by Harry S. Dent
• The Plutonomix Podcast: Gen Z
• San Fransicko: Why Progressives Ruin Cities by Michael Shellenberger
• Contact Barnaby
• Contact Laurie

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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.

TIMESTAMPS

• [00:01] Intro
• [01:50] Regionalization: a massive shift is underway
• [04:24] What does it all mean to investing?
• [10:10] Outro

RESOURCES

• The World Is Flat by Thomas Friedman
• Creative Destruction by Barnaby Levin

• Contact Barnaby

• Contact Laurie

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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.

TIMESTAMPS

• [00:01] Intro
• [01:35] Is Globalization itself dead?
• [04:44] Globalization may be even more important to China
• [06:51] Taking a look at Vertical Integration
• [08:19] Doesn’t mean the "end" of Globalization
• [10:36] Outro

RESOURCES

• Larry Fink’s 2022 Chairman’s Letter
• The World Is Flat by Thomas Friedman
• Creative Destruction by Barnaby Levin
• Contact Barnaby
• Contact Laurie

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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.

TIMESTAMPS

• [00:01] Intro
• [01:57] The US Dollar as the world’s “Reserve Currency”
• [06:13] What IS a “Reserve Currency”
• [07:36] Why isn’t China closer (yet) to becoming it?
• [10:24] Outro

RESOURCES

• “The dollar’s international role: An ‘exorbitant privilege’?” by Ben S. Bernanke
• Why Shouldn’t Gold? by Barnaby Levin
• Contact Barnaby
• Contact Laurie

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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.

TIMESTAMPS

• [00:01] Intro
• [02:01] How the exchange process affects profit
• [05:14] An “exorbitant privilege”
• [08:14] Why hedging is important
• [09:35] Outro

RESOURCES

• “The dollar’s international role: An ‘exorbitant privilege’?” by Ben S. Bernanke
• Contact Barnaby
• Contact Laurie

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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.

TIMESTAMPS

• [00:01] Intro
• [01:46] The effects of The Ukraine-Russia crisis
• [05:16] What could make a difference long term
• [08:05] Why Diversification is an important part of Financial Planning
• [11:00] Outro

RESOURCES

• Contact Barnaby

• Contact Laurie

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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.

TIMESTAMPS

• [00:01] Intro
• [01:38] “Fourth Turning” in the not so distant future
• [04:40] Big picture Demographics
• [08:14] Focusing on Alternative Investments
• [09:42] Outro

RESOURCES

• Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail by Ray Dalio
• 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

• Contact Barnaby

• Contact Laurie

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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.

TIMESTAMPS

• [00:01] Intro
• [01:49] Bearish Predictions from Jeremy Grantham and Ray Dalio
• [05:40] For every Seller, there’s a Buyer
• [8:00] More than just "Valuation"
• [8:30] What are the alternatives?
• [09:41] Outro

RESOURCES

• Jeremy Grantham
• Ray Dalio
• Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail by Ray Dalio
• 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

• Contact Barnaby

• Contact Laurie

View Details

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.

TIMESTAMPS

• [00:01] Intro
• [02:16] The January effect
• [03:34] Threat of the Build Back Better plan
• [05:14] Rebound may be delayed
• [07:22] A couple of warnings
• [08:28] Outro

RESOURCES

• The Build Back Better Framework

• Contact Barnaby

• Contact Laurie

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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.

TIMESTAMPS

• [00:01] Intro
• [01:13] A critical step forward
• [02:44] Opportunities in semiconductors and smartphones
• [05:56] A look into aerospace and the defense industry
• [08:48] Unintended consequences can lead to regulation
• [11:12] We are making progress
• [12:37] Outro

RESOURCES

• Team Builds the First Living Robots
• Why Google thinks we need to regulate AI
• Contact Barnaby
• Contact Laurie

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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.

TIMESTAMPS

• [00:01] Intro
• [02:03] The current integration of AI
• [06:02] The future of human and machine interaction
• [08:36] A word of warning
• [10:19] Outro

RESOURCES

• Monty Python and The Holy Grail - Lancelot Running
• Nvidia CEO: Omniverse Is One Of Our ‘Largest Graphics Opportunities’ Yet
• Apple CEO Tim Cook: AR Is “Critically Important” For The Company’s Future

• Contact Barnaby

• Contact Laurie

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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.

TIMESTAMPS

• [00:01] Intro
• [02:05] The pending transfer of wealth
• [03:51] The Scaffold Effect
• [06:04] Establishing a trust
• [09:43] The importance of including professionals
• [11:03] Organizations they’ve worked with on both coasts
• [12:10] Outro

RESOURCES

• The Scaffold Effect: Raising Resilient, Self-Reliant and Secure Kids in an Age of Anxiety by Harold S. Koplewicz
• The Descendants
• Preparing Heirs: Five Steps to a Successful Transition of Family Wealth and Values by Roy Orville Williams and Vic Preisser
• Money, Meaning & Choices (MMC) Institute
• 21/64
• Generation Impact: How Next Gen Donors Are Revolutionizing Giving by Sharna Goldseker and Michael Moody
• Ackerman Institute for the Family
• Contact Barnaby
• Contact Laurie

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In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin explore if we’re on the verge of hyperinflation.

TIMESTAMPS

• [00:01] Intro
• [01:57] The argument for either sides
• [03:35] Supply-demand mismatch
• [06:32] The attention to wages
• [11:59] Outro

RESOURCES

• Fed Chief Jerome Powell Says Inflation Is Elevated but Likely to Moderate
• Supply chain issues add to stagflationary winds by Mohamed El-Erian
• Jack Dorsey’s tweet about hyperinflation
• Is Inflation Still “Transitory”? by Donald Luskin
• Insana and Santelli on whether stagflation is a real concern
• Contact Barnaby
• Contact Laurie

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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.

TIMESTAMPS

• [00:01] Intro
• [01:56] What is indexing?
• [05:02] The Capital Asset Pricing Model (CAPM)
• [06:33] Choosing which approach is best for you
• [10:22] So which is better?
• [11:44] Outro

RESOURCES

• A Random Walk Down Wall Street: Including a Life-Cycle Guide to Personal Investing by Burton Malkiel
• Capital Asset Pricing Model (CAPM)
• AQR Capital Management
• The Pareto Principle by Barnaby Levin
• Why Einstein Considered Compound Interest the Most Powerful Force in the Universe: Is the power of compound interest really the 8th Wonder of the World?
• Contact Barnaby
• Contact Laurie

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In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin share their thoughts on something they both feel passionate about: education.

TIMESTAMPS

• [00:01] Intro
• [02:11] Why men are skipping or dropping out of college
• [05:34] Why it’s not the same with women
• [09:06] How to bend the curve again
• [13:03] Outro

RESOURCES

• Contact Barnaby

• Contact Laurie

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In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin discuss the world of financial technology (fintech) and decentralized finance.

TIMESTAMPS

• [00:01] Intro
• [01:45] Starting with crypto and blockchain
• [05:37] Digital wallets and cash apps
• [08:35] Crypto is an entirely new economy
• [09:32] Outro

RESOURCES

• Financial crisis of 2007–2008
• Bitcoin: A Peer-to-Peer Electronic Cash System by Satoshi Nakamoto
• JPMorgan Chase CEO Jamie Dimon: Fintech is an ‘enormous competitive’ threat to banks
• Contact Barnaby
• Contact Laurie

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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

TIMESTAMPS

• [00:01] Intro
• [01:45] ESG investing and greenwashing
• [03:02] One of the most urgent issues: water
• [05:15] Three broad categories to consider
• [08:53] Inclusion rather than exclusion
• [10:48] Outro

RESOURCES

• Wells Fargo Fined $250 Million for Problems in Its Mortgage Business
• Our Legacy - The Nathan Cummings Foundation
• SALT
• Contact Barnaby
• Contact Laurie

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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.

TIMESTAMPS

• [00:01] Intro
• [01:53] The Internet Generation
• [03:44] Gen Z’s seeming paradoxes
• [08:31] The next generation of entrepreneurs
• [10:29] Outro

RESOURCES

• Contact Barnaby

• Contact Laurie

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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.

TIMESTAMPS

• [00:01] Intro
• [01:45] If China sneezes, everyone catches a cold
• [04:01] An economic disruption would bother us more than them
• [09:16] China’s new development phase
• [11:04 What do to in advance
• [11:44] Outro

RESOURCES

• The China Syndrome by Barnaby Levin
• Contact Barnaby
• Contact Laurie

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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.

TIMESTAMPS

• [00:01] Intro
• [01:17] Understanding China
• [04:48] Its history with war
• [08:46] What are we to do?
• [10:16] Outro

RESOURCES

• CNBC’s full interview with Hayman’s Kyle Bass on investing in China
• The Art of War by Sun Tzu
• Destined for War: Can America and China Escape Thucydides's Trap? by Graham T. Allison
• Confucius
• Contact Barnaby
• Contact Laurie

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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.

TIMESTAMPS

• [00:01] Intro
• [01:18] How to increase the odds to get to where you need to be
• [04:34] Questions to ask a financial advisor
• [06:33] Looking at your cash flow
• [10:57] Outro

RESOURCES

• Contact Barnaby
• Contact Laurie

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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.

TIMESTAMPS

• [00:01] Intro
• [01:27] Principles to help stay on track
• [05:59] How to reconcile this economy
• [07:50] The market never tires of teaching humility
• [10:51] Outro

RESOURCES

• The Intelligent Investor by Benjamin Graham
• A Random Walk Down Wall Street: Including a Life-Cycle Guide to Personal Investing by Burton Malkiel
• Wile E. by Barnaby Levin
• Contact Barnaby
• Contact Laurie

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In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin talk about private equity with a primary focus on the venture side.

TIMESTAMPS

• [00:01] Intro
• [01:24] What is private equity, venture capital and buyouts
• [02:00] The history of Berkshire Hathaway
• [03:08] A caution about private equity and venture capital
• [04:21] The endowment model
• [05:32] The best time to invest in venture funds generally
• [07:56] Investing in a SPAC
• [10:38] Outro

RESOURCES

• Berkshire Hathaway
• Unconventional Success: A Fundamental Approach to Personal Investment by David F. Swensen
• Contact Barnaby
• Contact Laurie

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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.

TIMESTAMPS

• [00:01] Intro
• [01:21] What is bitcoin
• [02:33] The world of cryptocurrency
• [03:28] Why it’s important to take one step at a time
• [06:23] How to buy and hold bitcoin without fear of hacking
• [07:49] A listener question on precious metals
• [09:12] Outro

RESOURCES

• Contact Barnaby
• Contact Laurie

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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.

TIMESTAMPS

• [00:01] Intro
• [01:19] The history of gold
• [01:56] Assessing the value of gold
• [05:24] Too much debt can lead to serious problems
• [06:26] The Taylor rule
• [10:44] Outro

RESOURCES

• The Taylor rule
• Contact Barnaby
• Contact Laurie

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In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin start their series on alternative investments, starting with hedge funds.

TIMESTAMPS

• [00:01] Intro
• [01:14] A history about hedge funds
• [02:58] The purpose of hedging and the concept of convergence
• [04:36] What is a hedge fund
• [06:38] Should one add hedge funds to their asset allocations?
• [09:01] Outro

RESOURCES

• Chicago Board of Trade of 1848
• A Retrospective on the Demise of Long-Term Capital Management
• Israel Englander at Millennium Management
• Ray Dalio at Bridgewater Associates
• Contact Barnaby
• Contact Laurie

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In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin talk about bonds and whether they still have a place in portfolios.

TIMESTAMPS

• [00:01] Intro
• [00:59] Do bonds still have a place in portfolios?
• [01:37] How history relates to the bond market
• [02:58] Reciprocity and US Treasury Bill
• [05:17] Is now a good time to invest new money in bonds?
• [07:48] Alternative investments
• [08:08] A listener question on global investing
• [09:18] Outro

RESOURCES

• Alexander Hamilton’s central banking and monetary system
• Contact Barnaby
• Contact Laurie

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In this episode of the Plutonomix Podcast, Laurie Kamhi and Barnaby Levin talk about global 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.

TIMESTAMPS

• [00:01] Intro
• [00:59] Global investing
• [02:41] The Four Ps
• [02:56] Geopolitics and risk factors to consider
• [06:39] Why it’s important to have exposure to emerging markets
• [08:53] Outro

RESOURCES

• Foreign Exposure by Barnaby Levin
• Creative Destruction by Barnaby Levin
• The World Is Flat: A Brief History of the Twenty-first Century by Thomas Friedman
• European Commission’s A Europe fit for the digital age
• Contact Barnaby
• Contact Laurie

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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.

TIMESTAMPS

• [00:01] Intro
• [01:20] The difference between inflation and deflation
• [05:03] One notable exception with credit cards
• [06:06] The biggest concern with bonds
• [08:47] We might get higher rates
• [10:35] What are we to do about it?
• [11:25] Outro

RESOURCES

• Contact Barnaby
• Contact Laurie

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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 will offer insights as to how these will affect their investment decisions.

TIMESTAMPS

• [00:01] Intro
• [01:28] Strauss–Howe generational theory
• [04:03] Advancement with AI, genetics and brain implants
• [06:32] Paradigm shifts
• [08:56] The private sector
• [09:39] A listener question on asset allocation
• [10:56] Outro

RESOURCES

• Strauss–Howe generational theory
• How We Got to Now: Six Innovations that Made the Modern World by Steven Johnson
• Boston Globe: Bill Gates-backed Vicarious Surgical to go public in $1.1 billion SPAC deal
• Impact: Reshaping Capitalism to Drive Real Change by Sir Ronald Cohen
• Contact Barnaby
• Contact Laurie

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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 the economy
• [05:43] Important points
• [07:11] Hurdles and disruptions
• [08:40] Outro

RESOURCES

• Age Wave: How The Most Important Trend Of Our Time Will Change Your Future by Ken Dychtwald and Joe Flower
• 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
• Contact Barnaby
• Contact Laurie

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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. 

TIMESTAMPS

• [00:01] Intro
• [01:30] Nothing is certain except death and taxes
• [03:53] How the first proposed changes come into play
• [06:38] A few things to discuss with your advisor
• [08:59] Legitimate ways to reduce or avoid taxes
• [10:24] Outro

RESOURCES

• The Pareto Principle by Barnaby Levin
• Contact Barnaby
• Contact Laurie

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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

• The 7 Habits of Highly Effective People by Stephen Covey
• Contact Barnaby
• Contact Laurie