Episodes
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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 LevinThe Illusion of Knowledge by Howard MarksClosing Technique of the Week: The Ben Franklin CloseCNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy SheltonStanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023Contact BarnabyContact Laurie -
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 LevinThe Illusion of Knowledge by Howard MarksClosing Technique of the Week: The Ben Franklin CloseCNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy SheltonStanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023Contact BarnabyContact Laurie -
Episodes manquant?
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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 LevinThe Illusion of Knowledge by Howard MarksClosing Technique of the Week: The Ben Franklin CloseCNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy SheltonStanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023Contact BarnabyContact Laurie -
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 LevinThe Illusion of Knowledge by Howard MarksClosing Technique of the Week: The Ben Franklin CloseCNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy SheltonStanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023Contact BarnabyContact Laurie -
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 LevinThe Illusion of Knowledge by Howard MarksClosing Technique of the Week: The Ben Franklin CloseCNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy SheltonStanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023Contact BarnabyContact Laurie -
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 LevinThe Illusion of Knowledge by Howard MarksClosing Technique of the Week: The Ben Franklin CloseCNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy SheltonStanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023Contact BarnabyContact Laurie -
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 LevinThe Illusion of Knowledge by Howard MarksClosing Technique of the Week: The Ben Franklin CloseCNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy SheltonStanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023Contact BarnabyContact Laurie -
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 LevinThe Illusion of Knowledge by Howard MarksClosing Technique of the Week: The Ben Franklin CloseCNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy SheltonStanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023Contact BarnabyContact Laurie -
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 LevinThe Illusion of Knowledge by Howard MarksClosing Technique of the Week: The Ben Franklin CloseCNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy SheltonStanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023Contact BarnabyContact Laurie -
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 LevinThe Illusion of Knowledge by Howard MarksClosing Technique of the Week: The Ben Franklin CloseCNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy SheltonStanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023Contact BarnabyContact Laurie -
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 LevinThe Illusion of Knowledge by Howard MarksClosing Technique of the Week: The Ben Franklin CloseCNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy SheltonStanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023Contact BarnabyContact Laurie -
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 LevinThe Illusion of Knowledge by Howard MarksClosing Technique of the Week: The Ben Franklin CloseCNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy SheltonStanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023Contact BarnabyContact Laurie -
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 LevinThe Illusion of Knowledge by Howard MarksClosing Technique of the Week: The Ben Franklin CloseCNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy SheltonStanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023Contact BarnabyContact Laurie -
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 LevinThe Illusion of Knowledge by Howard MarksClosing Technique of the Week: The Ben Franklin CloseCNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy SheltonStanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023Contact BarnabyContact Laurie -
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 LevinThe Illusion of Knowledge by Howard MarksClosing Technique of the Week: The Ben Franklin CloseCNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy SheltonStanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023Contact BarnabyContact Laurie -
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 securityRESOURCES
What I Think I Know by Barnaby LevinThe Illusion of Knowledge by Howard MarksClosing Technique of the Week: The Ben Franklin CloseCNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy SheltonStanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023Contact BarnabyContact Laurie -
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] OutroRESOURCES
What I Think I Know by Barnaby LevinThe Illusion of Knowledge by Howard MarksClosing Technique of the Week: The Ben Franklin CloseCNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy SheltonStanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023Contact BarnabyContact Laurie -
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] OutroRESOURCES
What I Think I Know by Barnaby LevinThe Illusion of Knowledge by Howard MarksClosing Technique of the Week: The Ben Franklin CloseCNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy SheltonStanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023Contact BarnabyContact Laurie -
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] OutroRESOURCES
What I Think I Know by Barnaby LevinThe Illusion of Knowledge by Howard MarksClosing Technique of the Week: The Ben Franklin CloseCNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy SheltonStan Druckenmiller says he'd be 'stunned' if recession doesn't happen in 2023Contact BarnabyContact Laurie -
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 elections14:34] OutroRESOURCES
What I Think I Know by Barnaby LevinThe Illusion of Knowledge by Howard MarksClosing Technique of the Week: The Ben Franklin CloseCNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy SheltonStanley Druckenmiller says he'd be 'stunned' if recession doesn't happen in 2023Contact BarnabyContact Laurie - Montre plus
