Dec 20, 2018
On the one-year anniversary of the peak value in Bitcoin, Buck, Dan Ferris, and Stansberry’s top retirement expert Dr. David Eifrig break down the grim-seeming news facing investors this month, from the “worst December for markets since the Great Depression” all the way to oil’s slide and the sentencing of President Trump’s former top lawyer Michael Cohen.
Having worked at Goldman Sachs for almost a decade, Doc gives his take on the bank’s 1MDB scandal, and why he has no doubt the bank knew what was going on in real time. Dan and Buck discuss Trump’s pressure on the Fed to table its rate hikes, and Doc explains why he doesn’t pay much attention to the Fed these days.
They’re then joined by this week’s podcast guest: Steve Koomar, the publisher and editor of Vigilante Investor. Steve is a career investment professional with 25 years of experience, working for Goldman Sachs before becoming International Fixed Income portfolio manager for Prudential Investment Management. There, he managed fixed income investments and foreign exchange risk in every major global market.
In a week where Stanley Druckenmiller is calling this hemorrhaging market “the best economist I know” the gang gets Steve’s take on whether a tumbling stock market really does signal a recession is imminent – or if any particular sector is the canary in the coal mine.
Steve explains why a recession is probably coming in 2019, and how investors can prepare – starting with an asset he’s invested in since 1988 that he calls “great for wealth-building, but also great for wealth management.”
Nevertheless, there’s something much more urgent on his radar – an epic amount of wealth creation from a tech boom that no recession can seriously derail. “I think that the investments will do very well because the growth is so phenomenal… there’s so much value being created there.”