WTFinance

Interview recorded - 6th of January, 2025

On this episode of the WTFinance podcast I had the pleasure of welcoming back Doomberg.

During our conversation we spoke about the rebellion of the elite and how increasing electricity prices have impacted this in Europe, energy bottlenecks, geopolitical risk, the new American empire, potential for geopolitical vacuum, Trump accelerating growth, European Winter 24/25 and more. I hope you enjoy!

0:00 - Introduction
2:34 - What stood out in 2024?
5:04 - Numb to geopolitical risks1
8:39 - Energy bottleneck for data centres?
10:19 - Pressure on US energy prices?
12:49 - Gas pressure
14:52 - Difficult to predict energy markets
16:46 - What impact will Trump have on the world?
20:12 - Geopolitical vacuum?
21:51 - War for Africa
23:31 - Do demographics matter with AI?
27:49 - Trump accelerating growth?
35:04 - Bureaucratic elite 
39:24 - Europe energy cost destroying economy
41:29 - Winter 2024/25 in Europe?
46:24 - One message to takeaway from conversation?

Doomberg is an independent, widely distributed publication that delivers concise, entertaining, provocative articles centered on energy, finance, and geopolitics. They are a small team of entrepreneurs that started this business after long careers in the industrial sector. With trillions of taxpayer dollars and myriad government mandates thrown at the energy transition, there was a practical voice missing in the traditional media. They started writing in that voice, with the freedom of having no master to serve beyond the foundation of our own principles, experience, and work ethic.

This publication is their passion, and the content is supported by our team’s deep experience in heavy industry, private equity, and the hard sciences. They are entirely reader-supported and have grown to be the most widely read finance newsletter on the Substack platform.

Doomberg - 

Substack - https://doomberg.substack.com/
Twitter - https://twitter.com/DoombergT
Email - [email protected]

WTFinance 

Instagram - https://www.instagram.com/wtfinancee/
Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfn
iTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4
Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 3rd of January, 2025

On this episode of the WTFinance podcast I had the pleasure of welcoming back Dave Collum. Dave is a Professor of Organic Chemistry and leading thinker on markets and the larger world around us. 

During our conversation we spoke about Dave's review of 2024, the destruction of the democratic party, emergence of extremism, bureaucratic crisis, controlling complex systems, dollar wrecking ball, confiscating assets, Trump 2.0 and more. I hope you enjoy!

0:00 - Introduction
2:27 - Review of 2024
3:50 - Democrats took election for granted?
9:00 - Biden in 2016?
18:00 - Bureaucratic crisis
26:08 - Emergence of extremism
29:02 - Political accountability
29:59 - Powell recent decision making?
35:15 - Controlling complex systems
31:22 - Managers can be poor allocators of capital
40:42 - Distributions
41:56 - Big Pharma model
47:36 - Healthcare failing
49:57 - Dollar wrecking ball
53:42 - Confiscating assets
58:47 - Optimism about Trump 2.0
1:03:13 - Trump to avoid a market reckoning?
1:04:12 - One message to takeaway from our conversation?

David Collum received a BS in biology from Cornell in 1977 and an MA, MS, and PhD in chemistry from Columbia University in 1980. Dave currently is the Betty R. Miller Professor of Chemistry at Cornell University. While at Cornell Dave has served as Director of Undergraduate Studies, Director of Graduate Studies, associate chairman, and chairman while running a research program in organic chemistry for forty years, which include collaborations with a host of large-cap pharmaceutical companies exemplified by Merck and Pfizer. In recent years he has become interested in the interface where politics and markets meet. He compiles an annual Year in Review, does several dozen podcasts per year, and occasionally stirs up trouble on more mainstream media sources.

Dave Collum - 

Twitter - https://twitter.com/davidbcollum?s=21&t=xvXQIRnoZm5mxXw68trHEQ
Year in Review - https://peakprosperity.com/2024-year-in-review-what-is-a-fact/

WTFinance -

Instagram - https://www.instagram.com/wtfinancee/
Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfn
iTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4
Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 17th of December, 2024

On this episode of the WTFinance podcast I had the pleasure of welcoming back Professor Richard Wolff. Richard is a well-known critic of an alternative contemporary economic system, host of the Economic Update and Founding Director of Democracy at work.

During our conversation we spoke about the economics of 2024, what to expect in 2024, the potential for another roaring twenties, the collapse of the US empire, actions to prevent such an event and more. I hope you enjoy!

0:00 - Introduction
1:30 - Economics of 2024
12:40 - Inwards looking US and Roaring twenties?
23:05 - Large migration and wage increase?
28:20 - Actions to change trajectory?
35:15 - One message to takeaway from conversation?

Richard D. Wolff is Professor of Economics Emeritus, University of Massachusetts, Amherst where he taught economics from 1973 to 2008. He is currently a Visiting Professor in the Graduate Program in International Affairs of the New School University, New York City.

Earlier he taught economics at Yale University (1967-1969) and at the City College of the City University of New York (1969-1973). In 1994, he was a Visiting Professor of Economics at the University of Paris (France), I (Sorbonne). Wolff was also regular lecturer at the Brecht Forum in New York City.

Prof Wolff is the co-founder of Democracy at Work and host of their nationally syndicated show Economic Update. 

Professor Richard Wolff:

Democracy at work: https://www.democracyatwork.info/
Website: https://www.rdwolff.com/
X: https://x.com/profwolff
YouTube:  @RichardDWolff  

WTFinance -

Instagram - https://www.instagram.com/wtfinancee/
Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfn
iTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4
Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 13/12/2024

On this episode of the WTFinance podcast I had the pleasure of welcoming on Chief Strategist of Citrini Research. They cover Thematic Equity with a top down approach. 

During our conversation we spoke about the thematic equity approach on investing, review of 2024, thoughts on 2025, risk of Nvidia slowdown, return of Arkk, anti-trends, selling too early and more. I hope you enjoy!

0:00 - Introduction
1:37 - Citrini investment strategy
5:13 - What drives markets?
8:15 - Review of 2024
13:55 - Collection of trends
17:05 - 25 trades for 2025
24:47 - Nvidia slowdown?
30:20 - 2025 Risks?
34:20 - Small cap vs hyperscaler?
36:30 - Looking past Trump speak
39:20 - Return of Arkk
44:55 - Anti-trends
53:37 - Selling too early
59:27 - One message to takeaway?

Over the past century, 40% of shareholder returns have come from 1% of all companies.

Identifying these companies is oftentimes a function of investor’s early discovery of market themes & narratives. Those “megatrends” affecting not just individual companies or sectors but the entire economy.

This is the kind of approach to investing utilized at Citrini Research. They attempt to highlight and demystify themes that will define the market’s distribution of returns for years to come.

By incorporating macroeconomics, second-order thinking, top-down sector analysis and a lateral approach to individual equities and markets in general, they aim to discover early & expand upon these themes for their clients.

It is their most firmly held conviction that narratives drive markets more than any other factor. While their strategy has been defined in many ways by many people, they are solely concerned with one thing: doing what works.

Citrini -

Website - https://www.citriniresearch.com/
X - https://x.com/Citrini7

WTFinance -

Instagram - https://www.instagram.com/wtfinancee/
Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfn
iTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4
Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 12th of December, 2024

On this episode of the WTFinance podcast I had the pleasure of welcoming back David Rosenberg. David is the Founder & President of Rosenberg Research & associates.

During our conversation we spoke about 2024, what David was surprised about in the year, the lament of a bear, what to expect in 2025, tight credit spread, secular shift in bond, where David is bullish and more. I hope you enjoy!

0:00 - Introduction
1:21 - David’s year review
2:48 - Lament of a bear
8:35 - Earnings remain strong
14:55 - Credit spreads tight
24:33 - Secular shift in bonds?
30:30 - Continued rate cuts?
35:49 - Where is David bullish?
41:27 - One message to takeaway

David Rosenberg is the Founder and President of Rosenberg Research & Associates Inc., an economic consulting firm he established in January 2020. He and his team have as their top priority providing investors with analysis and insights to help them make well-informed investment decisions.

Prior to Rosenberg Research, David was Chief Economist & Strategist at Gluskin Sheff + Associates Inc. from 2009 to 2019. From 2002 to 2009, he was Chief North American Economist at Merrill Lynch in New York, during which he was consistently ranked in the Institutional Investor All-Star analyst rankings. Prior thereto, he was Chief Economist and Strategist for Merrill Lynch Canada, based out of Toronto, where he and his team placed first in the Brendan Wood survey of Canadian economists for ten years in a row.

Mr. Rosenberg is a frequent contributor to most major financial newspapers and publications in North America and makes regular TV appearances in the financial media. He received both a Bachelor of Arts and Masters of Arts degree in Economics from the University of Toronto.

David Rosenberg - 

Website - https://www.rosenbergresearch.com/
Twitter - https://twitter.com/EconguyRosie
Article - https://www.linkedin.com/pulse/lament-bear-david-rosenberg-tpxzc
LinkedIn - https://www.linkedin.com/in/david-rosenberg-40800219b/

WTFinance -

Instagram - https://www.instagram.com/wtfinancee/
Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfn
iTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4
Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 4th of December, 2024

On this episode of the WTFinance podcast I had the pleasure of welcoming back Michael Pento. Michael is the President & Founder of Pento Portfolio Strategies.

During this conversation we spoke about the current market outlook, why the market is dangerous, cutting government costs, is inflation an issue, asset bubbles, whether the middle class can be saved and more. I hope you enjoy!

0:00 - Introduction
0:59 - Market outlook
2:38 - Why is the market dangerous?
8:06 - How does the US get out of this?
9:43 - Cutting government costs?
11:36 - Inflation an issue?
20:28 - 3 Asset Bubbles
22:58 - Which sectors benefitting?
25:08 - Next stage
24:53 - Can the middle class be saved?
27:53 - One message to takeaway from conversation?

Michael Pento serves as the President and Founder of Pento Portfolio Strategies (PPS). PPS is a Registered Investment Advisory Firm (RIA) that operates like an actively managed fund without all the expenses. The Model Portfolio uses a proprietary macroeconomic model to determine when and how to invest across an inflation/deflation and economic cycle spectrum. The 20-component model is used to determine the two most important factors when it comes to successful investing: the second derivatives of growth and inflation.

Michael Pento - 

Website - https://pentoport.com/
Twitter - https://twitter.com/michaelpento?lang=en
LinkedIn - https://www.linkedin.com/in/michael-pento-a1882917b/

WTFinance 

Instagram - https://www.instagram.com/wtfinancee/
Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfn
iTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4
Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 4th of December, 2024

On this episode of the WTFinance podcast I had the pleasure of welcoming back Marc Faber. Marc is a well known contrarian investor & the Editor and Publisher of the “Gloom, Boom & Doom Report”.

During our conversation we spoke about his thoughts on the markets, large governments, inflation, economics, US bubble, BRICS currency and more. I hope you enjoy!

0:00 - Introduction
1:58 - Current view on markets
4:28 - No changes to trajectory?
7:23 - Governments getting larger
11:43 - Shift to smaller governments?
16:00 - Inflation
24:19 - Why is the average worker worse off?
28:32 - Assets undervalued
30:33 - US bubble
32:59 - BRICS currency
34:19 - One message to takeaway from conversation?

Dr Marc Faber was born in Zurich, Switzerland. He went to school in Geneva and Zurich and finished high school with the Matura. He studied Economics at the University of Zurich and, at the age of 24, obtained a PhD in Economics magna cum laude.

Between 1970 and 1978, Dr Faber worked for White Weld & Company Limited in New York, Zurich and Hong Kong. Since 1973, he has lived in Hong Kong. From 1978 to February 1990, he was the Managing Director of Drexel Burnham Lambert (HK) Ltd. 

In June 1990, he set up his own business, publishing a widely read monthly investment newsletter “THE GLOOM BOOM & DOOM” report which highlights unusual investment opportunities.

He is also the author of several books including “TOMORROW’S GOLD – Asia’s Age of Discovery” which was first published in 2002 and highlights future investment opportunities around the world. “TOMORROW’S GOLD” was for several weeks on Amazon’s best seller list and has been translated into Japanese, Korean, Thai and German.

Dr. Faber is also a regular contributor to several leading financial publications around the world.

A book on Dr Faber, “RIDING THE MILLENNIAL STORM”, by Nury Vittachi, was published in 1998.

A regular speaker at various investment seminars, Dr Faber is well known for his “contrarian” investment approach.

Marc Faber -

Website - https://www.gloomboomdoom.com/
Twitter - https://twitter.com/gloomboomdoom?lang=en
LinkedIn - https://www.linkedin.com/in/marc-faber-gloomboomdoom/?originalSubdomain=hk

WTFinance -

Instagram - https://www.instagram.com/wtfinancee/
Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfn
iTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4
Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 4th of December, 2024 

On this episode of the WTFinance podcast I had the pleasure of welcoming back David Hunter. David is a a contrarian macro strategist with 49 years of experience on Wall Street. 

During our conversation we spoke about David's call of the S&P500 reaching 6000 during the lows, how his next projection is for it to hit 7500, Trump trades, dollar bullishness, precious metals, the everything bubble and more. I hope you enjoy!

 0:00 - Introduction 0:58 - David’s perspective on market 3:18 - Why S&P to 7,500? 6:18 - $7trn yet to invest 7:25 - Trump trade 13:40 - US Tariffs 19:18 - Dollar bullishness 20:45 - Precious metals 22:50 - Everything bubble 27:40 - Unloved industries? 34:20 - One message to takeaway from our conversation?

David is an investment professional with 25 years of investment management experience and 20 years as a sell-side strategist with strong expertise in macroeconomic analysis and portfolio management. His strong macro capabilities combined with a contrarian philosophy have allowed me to forecast economic cycles and spot market trends well ahead of the consensus. David is an intellectually honest, independent thinker comfortable with charting a course away from the crowd. Accomplished stock picker and value-oriented portfolio manager.

David Hunter - 

Twitter - https://twitter.com/DaveHcontrarian
LinkedIn - https://www.linkedin.com/in/david-hunter-668ba015/

WTFinance -

Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfn
iTunes -https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4
LinkedIn - https://www.linkedin.com/in/anthony-fatseas-761066103/
Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 3rd of December, 2024

On this episode of the WTFinance podcast I had the pleasure of welcoming back Julian Brigden. Julian is the Head of Research at Macro Intelligence 2 Partner.

During our conversation we spoke about the current economic outlook, new Trump term, whether tariffs will be inflationary, did the FED cut too early, avalanche of bond crisis', dollar wrecking ball and more. I hope you enjoy!

0:00 - Introduction
1:54 - Current Outlook?
5:33- New Trump term differences
10:20 - Department of Government Efficiency
11:40  - Tariff revenue raising mechanism
13:22 - Tariffs inflationary
19:05 - FED cut too early?
23:10 - Bonds
26:01 - Avalanche of bond crisis’
28:36 - Financial repression
32:30 - Dollar wrecking ball
36:44 - Precious metals bull market
37:56 - One message to takeaway

Julian Brigden is the Head of Research at Macro Intelligence 2 Partners, a firm he co-founded in 2011. He leads a six-person team of research and market professionals to publish independent macroeconomic research that is both ahead of market consensus and timely. Julian has over 30 years of experience in financial markets including positions in market and policy focused consulting to institutional investors as well as FICC sales. 

Julian is a trusted advisor to many top money managers who use MI2 Partners’ research to guide their investment process. He has extensive experience with macro data analysis, broad fixed income, equity market (not individual stocks) and currencies. He is particularly skilled at exploring correlations in the economy and financial markets vital to a vast array of investment decision-makers. As a global macro strategist, Julian’s primary focus is understanding and explaining macroeconomic and policy-related developments to tell clients what is important in markets and what to fade. 

When asked about his market outlook for 2022, Julian stated that the US policy response was massive. As a result, the economy has closed the output gap and is in danger of overheating. Together with inflation, Julian believes that this means the Fed needs to rapidly tighten policy while slowing growth. As rates rise and the balance sheet shrinks, the risks to very overvalued asset prices, especially stocks, will rise. He then stated that in Europe, as the impact of Omicron fades and the inventory cycle surges, the ECB will need to raise rates, which will add to the pressure in global bond markets. 

Julian spent five years at Medley Global Advisors from 1999 to 2004, a leading macro policy intelligence firm, as the Managing Director of the G7 Client Team, providing timely trading recommendations. From 2004 to 2011, he served as North American Head of Hedge Fund Sales at Crédit Agricole. He has worked in London, Zurich, New York and Vail at UBS, Lehman Brothers, HSBC, Drexel, Credit Suisse, and Salomon Brother in foreign exchange and precious metals.

Any questions may be directed to: [email protected] 

Julian -

Website - https://mi2partners.com/
Retail - https://mi2partners.com/macrocapture-landing-page/
Twitter - https://twitter.com/JulianMI2
LinkedIn - https://www.linkedin.com/in/julian-brigden-150b2114

WTFinance -

Instagram - https://www.instagram.com/wtfinancee/
Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfn
iTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4
Twitter - https://twitter.com/AnthonyFatseas

Interview recorded - 22nd of November, 2024

On this episode of the WTFinance podcast I had the pleasure of welcoming on Bjorn Lomborg. Bjorn is a renowned researcher and writer, currently president of the think tank Copenhagen Consensus Center, which researches the most effective solutions to the world’s greatest challenges, from disease and hunger to climate and education. The findings of the 12 most efficient solutions for the world’s poorest are laid out in his recently released book “Best Things First”.

During our conversation we spoke about the UN's Sustainable Development Goals, whether they're pragmatic, why the current trajectory is off, what $35bn annually could to to benefit the world, value of life, best ways to reduce emissions and more. I hope you enjoy!

0:00 - Introduction
2:12 - Are UN SDG’s realistic?
6:42 - Shift away from pragmatism?
7:50 - Influence for writing the book?
10:18 - $35bn to add $1trn of value to developed economies?
18:05 - Financial assumptions
22:47 - Issues with current development aid
27:38 - Value of life
32:03 - Didn’t hit the cut as too expensive?
37:03 - Best way to reduce emissions?
42:34 - One message to takeaway?

Dr. Bjorn Lomborg is an academic and the author of the best-selling "False Alarm: How Climate Change Panic Costs Us Trillions, Hurts the Poor, and Fails to Fix the Planet", "The Skeptical Environmentalist" and "Cool It". He challenges mainstream concerns about development and the environment and points out that we need to focus attention on the smartest solutions first. He is a visiting fellow at the Stanford University's Hoover Institution, and president of the Copenhagen Consensus Center which brings together many of the world's top economists, including seven Nobel Laureates, to set priorities for the world. The University of Pennsylvania asked almost 7,000 think tanks and thousands of journalists, public and private donors, and policymakers from around the world to nominate and rank the world's best think tanks. Copenhagen Consensus Center's advocacy for data-driven smart solutions to global challenges were voted into the top 20 among NGOs with up to 100 times' larger budget. The Economist said “Copenhagen Consensus is an outstanding, visionary idea and deserves global coverage.”

Lomborg is a frequent participant in public debates on policy issues. His analysis and commentaries have appeared regularly in such prestigious publications as the New York Times, Wall Street Journal, USA Today, The Economist, Washington Post, Forbes Magazine, Globe & Mail, The Guardian, The Daily and Sunday Telegraph, The Times, The Australian, Los Angeles Times, Boston Globe and Der Spiegel. Lomborg’s monthly column appears in multiple languages in influential newspapers across all continents. He is a television commentator on CNN, FOX, MSNBC and the BBC, among others, on shows such as “Newsnight”, “20/20”, “60 Minutes”, “The Late Show with David Letterman”, and “Larry King Live”. He was featured in the movie “Cool It”, by Sundance Award winning director Ondi Timoner.

Bjorn Lomborg - 

Book - https://www.amazon.co.uk/Audible-Best-Things-First/dp/B0CD8T9QDV/
Website - https://lomborg.com/
X - https://twitter.com/BjornLomborg

WTFinance -

Instagram - https://www.instagram.com/wtfinancee/
Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfn
iTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4
Twitter - https://twitter.com/AnthonyFatseas