Robert Sluymer has been a Technical Analyst for close to 3 decades. I really enjoy his intermarket, global macro perspective and the way he brings it all together in a similar way to what we do at our shop. It was hard for me to really disagree with anything Rob said during this podcast episode. It seems to me like him and I are on the same page on many levels. I didn’t make it easy on him, but he certainly brought the goods. I really enjoyed this episode from someone who brings 27 years of institutional experience at RBC and is now at an independent shop at Fundstrat. We discussed Bitcoin, the S&P500, Sector Rotation, Bonds and Precious Metals. This was a good one! Give it a listen
We are back with another episode of The Money Game Podcast with Phil Pearlman. Today we talk about JOMO, the Joy Of Missing Out. Phil brings up a point about the amount of work that goes into today’s version of Keeping up with the Joneses: Instagram, for example. People are so concerned with Missing Out (FOMO) that they’re completely ignoring the joys of missing out (JOMO). Saying No gives us the ability and the time to stay focused on what is probably more important, whether it’s health, family, friends, work or whatever else you’re into. We see this in the market constantly, with traders chasing trades and worrying about what trades other people are in and the money other people are making. The beauty of this situation in the market is that we’re guaranteed to get another opportunity. The market doesn’t give us many (any?) other guarantees. The one thing we do know is that there are no called strikes on wall street. We can stay patient and wait for our pitch, because we know for a fact that one is coming.
Walter Deemer has been a Technical Analyst for 57 years, after starting his career at Merrill Lynch working for legendary Technician Bob Farrell. He is a founding member and past president of the CMT Association and coined the phrase, “When the time comes to buy, you won’t want to!”,which is the title of one of the books he’s authored. We’re lucky to have someone on the podcast who was in the business at a time when interest rates were NOT in a downtrend! In this episode, Walter talks to us about what it was like charting in the 1960s and 70s and what sentiment was like as we entered the 1980s and one of the greatest economic expansions in America history. “Watch their feet, not their mouths”, is what Walter Deemer says when he encourages us to look at what investors are doing, rather than their opinions. This was a great conversation where we discuss what he calls our “Shoulda Fund” and what the Breakaway Momentum Strategy (breadth thrusts) means to him. I really enjoyed this one!
I’ve been following the work Willie Delwiche for years. As both a CFA and CMT Charterholder, I think it helps him really put things in perspective for the Advisors he works with at RW Baird. I really enjoyed the conversation we had about the markets and his process. Willie incorporates a number of breadth and sentiment measures that I’ve always been a fan of. He helps the Investment Advisors at the firm work with their clients and manages several portfolios as well. In this podcast episode we discuss a number of different things from Interest Rates to Gardening. It was fun to get to know Willie a bit more!
We are back with another episode of The Money Game Podcast with Phil Pearlman. Today we talk about the inability for some people trade US stocks from the long side due to biases stemming from past experiences. This is a real thing that we see constantly. So we talk about the causes, being aware of these feelings and what can be done to overcome these hurdles. I’m lucky that I’ve been through enough bull market and bear market cycles to not get stuck into betting on just one side or the other. But some people have a real fear of admitting they’re wrong and turning bullish at, what they think might be, precisely the wrong time. Some of this is driven by ego and some is just irrational anxiety. This is a really important conversation and one that I will likely listen to again several times over in the future.
Raoul Pal is someone whose work I’ve admired for years, both for his global macro perspective on the markets and the amazing job he and his team have done with Real Vision. I like how they’ve removed a lot of the conflicts of interest that come with traditional media reporting and the sensationalizing that comes along as a result.
As a Macro Analyst, he does a lot of intermarket, or “cross-asset”, analysis. Raoul and I see the world through a similar lens. One area where we differ is in our experiences throughout our careers and how that’s shaped our view points and biases. I really enjoyed that part of the conversation. As far as current markets are concerned, Raoul thinks that negative rates in the U.S. are a real possibility. He’s pointing out 30+ year trends in the bonds market. We discuss Bonds as well as a wide variety of topics in this episode.
I really want to thank Raoul for coming on. He was an excellent guest. Make sure to follow him on Twitter @RaoulGMI