Sermons From the Free Market

Meb and Peter pick up where they left off in part one with a discussion on shareholder yield. They talk about the importance of capital allocation and how it applies to shareholder yield. Meb shares his thoughts on some of the positives and negatives of various investment approaches. Peter shares his thoughts on different restrictions on diversification and foreign investment, and the two discuss possibilities for global diversification. They conclude the show with a word association game pertaining to capital markets.

Porter Stansberry sits down for another insightful conversation on The Big Trade Series. The conversation begins with a discussion on parenting and family dynamics, and Porter shares some information on his own personal history. They discuss the importance of natural law and attempt to define the concept of property. The conversation shifts to global currencies and trends related to debt and credit. They discuss the cost of capital and it’s effect on wealth disparity. Part one finishes with a discussion on certain oligarchs and their economic clout.

Meb Faber of Cambria Investment Management joins the Big Trade Series for part one of a two-part discussion. Meb sheds light on how he got started in the industry, and Peter compares it to his own experience. Meb talks about some of his past writings on trend following and his opinions on technical analysis. They shift the conversation towards central bank intervention and their effect on markets. They end the episode with a brief discussion on shareholder yield.

Jack Schwager joins Peter in this week’s episode. The episode begins with an introduction on Jack’s new company, Fundseeder.com. Jack then shares his thoughts on why markets are inefficient. Peter and Jack discuss Jack’s “Market Wizards” series, and Jack shares some of his most memorable interviews over the course of his writings. They discuss various trading techniques and how they can be best utilized, and Jack gives his opinion on the best market wizard of all time. Jack shares how all of his research has affected his own trading strategy. The episode concludes with Jack sharing some highlights from one of his lesser-known books.

Peter sits down with Jim Rogers from his home in Singapore for an insightful discussion on global markets. The conversation begins with a discussion on the poem, “Ozymandias” which leads to a discourse on the rise and fall of various empires throughout history. Jim shares his thoughts on China’s growth, and his views on their booming commodities markets. The conversation shifts to Russia and Jim’s thoughts on investing in Russian markets. They continue on with two out of favor markets with discussions on Myanmar and North Korea. Jim talks about the outlook for agriculture and shares what he has learned through his extensive career. The episode concludes with a thought provoking word association game.

Rick Rule shares his market insights with Peter in this week’s episode. They start out talking about commodities cycles and the current state of commodities. The conversation shifts to gold, the US dollar and global currencies. Peter discusses his own technique for using US dollar as a hedge in his portfolio and Rick gives his own insight on this topic. Peter and Rick talk about growing Chinese presence in global commodities futures markets. They discuss specific commodities including Uranium, followed by a discussion on the oil shale boom. Peter and Rick discuss how to invest in today’s natural resource marketplace, which leads to a discussion on Ben Graham’s “The Intelligent Investor”. Peter and Rick talk about the growing presence of oligarchs in the economy, and the conversation concludes with a word association game.

Shane Harris, journalist and author of “@War” joins the conversation. Shane starts off the show by explaining his concept of the “military internet complex”. Shane explains various corporations that are assisting the United States government with internet espionage. The conversation shifts to evidence of other countries engaging in cyber warfare, including South and North Korea. Shane shares his opinions on accountability and reliability of information when it comes to government sources of internet intelligence, specifically as it pertains to the recent accusations of North Korean hacking. Peter and Shane talk about China as an emerging threat in the realm of internet hacking and their growing presence in capital markets. The discussion concludes with a talk on internet hacktivism and various threats that exist on the web today.

James Altucher joins The Big Trade Series to share some of his trials and tribulations with entrepreneurship. He shares some of the concepts from his book “Choose Yourself”, including his “daily practice”. Peter and James discuss the value of career diversity, and how to turn a business idea into reality. James talks about some of his successes and failures in business, and the show ends with Peter and James exchanging career stories and advice.

This week Peter is joined by Andrew Horowitz, host of “TDI Podcast” and “DH Unplugged” and President of Horowitz & Company. They begin with a discussion on quantitative analysis and Peter and Andrew exchange perspectives on the subject. Andrew follows this discussion with a 2015 market outlook, including a back and forth on currencies and interest rates. Andrew and Peter continue the show with a lengthy debate on the emergence of Asian markets, Vietnam in particular. The episode concludes with Andrew sharing his thoughts on oil prices and Russia’s 2015 prospects.

Peter chats with Vitaliy Katsenelson, CIO of Investment Management Associates, Inc. Peter and Vitaliy discuss climate-changing events in markets, and the effects of these events. The discussion shifts to the Chinese bubble, followed by Vitaliy sharing his thoughts on Tesco and Apple. Vitaliy shares the idea of the “second best hand” and how it applies to portfolio management, which progresses into a discussion on anti-fragility. The episode concludes with Vitaliy sharing his thoughts on the current situation in Russia.