Apr 1, 2024
Dan and Corey kick off the
show by reviewing the most recent PCE number,
what's
happening with inflation, and
the current state of the economy. (0:41)
Next, real estate expert and
entrepreneur George Gammon joins the conversation
and
explains how he became a
self-described "macro addict" without any formal education in
the
world of finance or economics.
Plus, he discusses why he considers himself a libertarian
and
why most investors and
billionaires would fall into this category, even if they don't
self-
identify as such.
(21:59)
Further, George describes how
his investment style is influenced by being a libertarian.
By
default, his view is that the
government is always going to do the wrong thing, resulting
in
unintended, net-negative
consequences. George also goes into detail on the
similarities
between value investing and
trend following. He argues that successful value investors
are
always looking for a catalyst
so that they can catch the trend at its very beginning
stages,
while stereotypical investors
are happy to catch the middle portion of the trend.
(34:16)
Lastly, George explores the
biggest differences between retail investors and
professional
investors. He details the
strategy that the best hedge-fund managers use: starting with
a
macro view and then looking at
the fundamentals and the narrative later. George
emphasizes that these experts
spend most of their time deciding how to position
themselves
and using asymmetry to stack
the odds in their favor like in a game of blackjack.
(46:32)