Sermons From the Free Market

Marc Lichtenfeld of The Oxford Club and Investment U joins the conversation. The discussion begins with a topic Marc is quite well versed in, boxing. They quickly shift to another hot topic, cybersecurity and the outlook for that industry. Marc shares his thoughts on a timeline for the potential recovery of crude oil prices. Peter and Marc discuss ways for investors to get in on the oil industry now. Marc subsequently shares his 10-11-12 System, as outlined in his book, “Get Rich with Dividends”. Peter shares a bit of his own trading strategy, and the two discuss the merits of various approaches. The conversation concludes with an overview of the biotech sector.

Marc Chandler, a well-known foreign exchange market expert, joins the conversation. Peter and Marc begin by discussing the outlook for the strength of the US dollar, and the US economy as a whole. The discussion shifts to China and the trending idea that it will be the world’s next economic powerhouse. They talk about the Federal Reserve and impending interest rate hikes, concluding with a discussion of foreign currencies and global quantitative easing.

Simon Black, “The Sovereign Man”, joins the conversation. Simon begins by sharing his thoughts on the current state of governments and central banks. The discussion progresses to cover the US dollar’s status as the world’s reserve currency and whether or not it will continue to maintain this status. Peter and Simon delve into a number of different scenarios that could occur related to the US dollar. They talk about the impact of the IMF as well as other institutions on the changing global currency environment. Simon talks about current perceptions of risk, and the two have a debate about risks associated with current equities markets. Simon mentions Ben Graham’s concept of “margin of safety” as it applies to various investing activities. They further discuss risk and currencies, and the conversation concludes with a word association game.

Doug Casey of Casey Research joins the conversation. Peter and Doug begin with a talk on certain graphic novels, and their relevance to some current events, as well as some other novels that have provided inspiration to them in the past. They delve into topics including philosophy, science, and ethics, which then leads to a discussion on economic schools of thought. They talk about what makes a good market speculator. Doug shares some insight on the current state of capital markets and global governments. He then shares his belief that a new crisis is impending, and how he is preparing himself for it. He specifically covers gold and precious metals, and how that can protect an investor. He then talks about the over valuation of housing and real estate. They talk about the perceived value of education, and Doug gives a bold outlook for the future. The show concludes with a word association game.

Andrew Zatlin, “The Moneyball Economist” joins the conversation. Peter and Andrew start off by talking about data and various models within finance. Andrew gives an overview on his ideas on the application of data metrics to financial markets. Andrew discusses how he assesses companies for potential investment. They discuss Germany’s economy and the apparent strength, or lack thereof. This leads to a discussion on Japan’s economy. Andrew then gives an overview of his “Vice Index”, and the conversation concludes with a word association game.

Professor Vlatko Vedral joins the conversation for a fascinating discussion on the integration of quantum physics with finance. Professor Vedral begins with an overview on the concept of information and information theory. They quickly progress into a discussion on the application of information theory to the world of financial markets. Peter and Professor Vedral mention several prominent models used within finance and relate them to problems often associated with models in science. They discuss the quantification of information and its potential use in finance. Next, they relate the example of players strategically beating casinos in blackjack to approaches to finance. The conversation moves to the element of time, and the understanding of time within quantum physics. They discuss whether or not markets are efficient and the relevance of free will. A theological discussion ensues as they both theorize about the nature of the universe. They discuss quantum game theory and wrap up the discussion with a word association game.

Dr. Louise Shelley of The Terrorism, Transnational Crime and Corruption Center (TraCCC) joins the conversation. They begin with a brief discussion on cyber crime and its presence today. This is followed by a discussion on money laundering. Dr. Shelley then talks about some capital controls and the role of the United Nations. Peter brings up the topic of wealth inequality and Dr. Shelley shares the impact this has on the emergence of certain international terrorist organizations. They then discuss how terrorist organizations operate as a business and generate revenue, and how they move their money and commodities internationally. They talk about the rise of ISIS in Iraq and how it has come to power and continues to maintain power. They conclude with some thoughts on how to combat these kinds of organizations in the future.

Peter Brandt joins the podcast to talk trading. He starts out talking about his history as a trader and what got him into trading. They jump into a discussion about the Sharpe ratio and whether or not it is overrated. Peter B. goes on to share his trading methodology and his inspiration in the industry. He then shares whether or not his strategy is grounded in probabilities and whether or not his strategy can be replicated by other traders. This progresses into a discussion on the reliability of charts. Peter B. shares his preference in charts, followed by a discussion on algorithmic trading. He then shares some of the biggest anomalies and inefficiencies in analyzing markets to conclude the conversation.

To begin part two, Porter shares an example of the destruction of capital related to American football. Porter discusses some new ways to value companies. They shift to discuss Porter’s “End of America” scenario and his thoughts on the future of the United States. Peter and Porter discuss what books they have been reading recently. They talk about the success of Porter’s newsletter service and the importance of copywriting. The episode concludes with a word association game.

Patrick O’Shaughnessy joins The Big Trade Series. They start out talking about valuing companies and the concept of shareholder yield and the impact of interest rates. They move on to discuss the “millennial” generation and Patrick’s book intended for that audience. Patrick and Peter talk about investment trends among millennials. Patrick shares the value and importance of starting to invest at a young age. Peter and Patrick talk about some interesting books that they have been reading. Peter talks about what he’s been up to and shares some insight on some important market trends.