Mar 7, 2018
Porter goes for round two in his critical review of the annual shareholder’s letter from Berkshire Hathaway (BRK). The most important details are not what’s included in the letter from Warren Buffett, but it’s what’s missing that has Porter wondering if the Oracle of Omaha has lost his touch. Has the fundamental investment philosophy that has proven to work so well for Berkshire been altered? Will Buffett ever beat the S&P 500 ever again with the current makeup of Berkshire’s holdings?
Buck and Porter welcome economist and author Richard Duncan to the show. Richard talks about how the Fed is running behind on the Quantitative Tightening (QT) schedule it set for itself in 2017 to unwind the Quantitative Easing (QE) put in motion back in 2008-2009. Any QT or “crowding out” from the government’s trillion-dollar-a-year budget deficits are likely to be a toxic combination for investors. Richard says the US could be headed for another recession if the Fed continues to tighten as planned.
Porter answers listener questions about autonomous vehicles and their potential future impact on insurance premiums, and how the type of corporate bonds covered at Stansberry Research are quite different than what most people think.