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

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 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

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 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

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 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.