Introducing: Doubt

Does it feel to you like society has gone crazy? Well, you're not alone. There's a general view that all around the world, in the realms of politics, culture, business, and so forth, a lot of people are losing their minds. So if this is true, what's the reason for it? On this episode we speak with Dan Davies, the author of the new book The Unaccountability Machine: Why Big Systems Make Terrible Decisions - And How The World Lost Its Mind. Dan talks about the field of study known as cybernetics, and the inevitable outcomes of systems that grow more and more complex. This complexity -- which describes many things in the modern world, and leads to what Dan calls "accountability sinks," or entities that basically exist just to be blamed for things that have gone wrong. Dan walks us through how these emerged in the modern world, where things are headed, and how the trend could theoretically be reversed.

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Neil Dutta, the top economist over at Renaissance Macro, has generally been sunny and optimistic about the economy over the last four years or so. But now he's warning of a possible mistake by the Federal Reserve. In his view, the central bank is waiting too long to get confirmation that inflation is coming back to target. Meanwhile, unemployment is starting to creep up in a meaningful way. As he sees it, if you're still worried about upside risk to inflation at this point, you need to have a theory about where that inflation is going to come from — and it's really hard to come up with an answer for that right now, given the general downward momentum in hiring and the overall economy. In this episode of Lots More, we catch up with Neil to talk about the risk that the Fed will blow the soft landing.

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 From cars to toys to clothes, we're just used to seeing the label "Made In China" on all sorts of things. But how did China become a go-to destination for manufactured goods in the first place? Who actually recognized that there was a huge opportunity to tap the abundant, low-cost labor to sell goods to Western consumers? On this episode of the podcast we speak with Elizabeth Ingleson, a professor at the London School of Economics and the author of the book Made in China: When US-China Interests Converged to Transform Global Trade. Ingleson traces the roots of the US-China trade relationship to a handful of US entrepreneurs in the early 1970s who first went into the country and recognized its opportunity as an export powerhouse. We discuss who these individuals were, the obstacles they had to overcome, and how they reshaped the entire global economy.

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The stock market has had a torrid run in 2024 despite the fact that interest rate cuts haven't materialized in the way people had expected at the start of the year. In fact, outside of a few blips here and there (like spring 2020), US stocks have been phenomenal performers for years. Tom Lee, the founder of Fundstrat and FS Insight has been bullish for a long time, having caught the correct side of this lengthy trend. On this episode, we speak to the former JPMorgan strategist about how he thinks about the market, what he sees happening right now in macro and demographic trends, and why he thinks it’s plausible that the market could roughly triple in the next six years.

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Everyone knows that the AI boom is built upon the voracious consumption of chips (largely sold by Nvidia) and electricity. And while the legacy cloud operators, like Amazon or Microsoft, are in this space, the nature of the computing shift is opening up new space for new players in the market. One of the hottest companies is CoreWeave, a company backed in part by Nvidia, which has grown its datacenter business massively. So how does their business actually work? How do they get energy? Where do they locate operations? How are they financed? What's the difference between a cloud AI and a legacy cloud? On this episode, we speak with CoreWeave's Chief Strategy Officer Brian Venturo about what it takes to build out operations at this scale.

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Virtually everyone, across the ideological spectrum, has the view right now that it's too hard to build things (or get things done generally) in America. New infrastructure is thwarted by red tape and permitting. New housing is thwarted by YIMBYism. Even something that doesn't require much new construction -- like NYC's attempt to impose congestion pricing -- is difficult to get done after years and years of wrangling. What is the core problem? And what can be done to address it? On this episode, we speak with John Arnold, who started his career as an energy trader at Enron, before going on to found a highly successful energy hedge fund. Now in his role as the co-founder of Arnold Ventures, he works on policy solutions to address these key bottlenecks. We discuss how he goes about philanthropy to affect policy change, the problems he's identified, and what solutions could be put in place to improve domestic development.

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Throughout history, financial markets have struggled with the issue of borders. Borders create friction, add cost and cause headaches for anyone who wants to spend money across them. On top of that, various national currencies can be wildly unstable.

Could a borderless, global currency ease friction and enhance financial inclusion and stability around the world? Cryptocurrencies offer an intriguing possible solution to money’s border problem. And a particular kind of cryptocurrency, called stablecoins, could become a powerful medium of exchange for international payments - and offer people around the world increased economic freedom.

This episode is sponsored by Coinbase.

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For much of this year, the S&P 500 has marched steadily higher while measures of stock market volatility, like the VIX, have stayed pretty low. But looking at the headline index only tells you part of the story. Beneath the surface of the S&P 500, individual stocks have been moving up and down a lot. And of course, traders have figured out a way to make money on the difference between the quiet overall index and all that volatility happening in individual stocks. This is the dispersion trade that's gotten quite a bit of attention in recent months. But figuring out exactly who's doing it and how pervasive it is isn't that easy. In this episode, we speak with Michael Purves, CEO and founder of Tallbacken Capital Advisors, and Josh Silva, managing partner and CIO at Passaic Partners, about this new volatility trade and what it means for the overall stock market.

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A few lucky people have made generational wealth trading the ups and downs of the crypto market. And some finance professionals have shifted gears to focus primarily on the space. But what is it like to actually trade these coins day-to-day? How do people pick which ones to buy? How do they analyze the coins themselves? How do they get reliable information? And what is it like, emotionally, to trade such an infamously volatile asset? On this episode of the Odd Lots podcast, we speak with Julian Malinak. In his day job, Julian works in healthcare tech. But the rest of the time, he's looking on message boards for the next 100-bagger. At one point he had made enough to retire on. And then it all went poof. But he keeps grinding and trying to improve his craft. Julian — who we found on the Odd Lots Discord server — explains what he does all day, and how the market really works from a trading perspective. 

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There's been a huge change in the market for nickel, which goes into everything from electric vehicles to steel. Indonesia has grown to absolutely dominate production and now provides more than 55% of the world's supply. A lot of that is going to China, which has partnered with Indonesia to help grow its nickel industry at a phenomenal rate. Now, there are accusations that low-grade and low-priced Indonesian nickel is flooding the global market, to the detriment of other producers. Western miners like BHP and Anglo American have been shuttering their own nickel operations, and have written them down by billions of dollars in recent years. On this episode, we speak with Michael Widmer, head of metals research at Bank of America, about the sea change that's taken place in the world's nickel market and what it says about the green energy transition, as well as the scramble for other strategically important metals. We also talk about all those bullish calls on copper, and general volatility in the metals space.

See omnystudio.com/listener for privacy information.

If you missed listening to our real estate experts last month, visit the links below!

https://bonavestcapital.com/podcast/
https://www.buzzsprout.com/1368325

Watch this recap episode on YouTube:
https://www.youtube.com/watch?v=0aMpb_rApTw

To Connect With Us

Please visit our website www.bonavestcapital.com and click here to leave a rating and written review!

Everyone who has been in business for a while looks back at when they first started out and thinks "man, if only I knew X, Y or Z when I got started!" It's true, it took me 4 years before I figured out the right and wrong way to grow my real estate business. During those 4 years, I struggled ALOT and had some severe financial problems due to a lack of income. I would have given almost anything to have had someone sit me down and say, "here's the first few things you need to do now that you have your real estate license." 

Luckily, our guest this week is here to do just that! Rick Gonzalez, host of the brand spankin' new Modern Agent Podcast, joins us to talk about the most important "first steps" that a brand new agent or Loan officer should do to start off on the right foot, and have success quickly. Even if you're not a brand new agent, you'll learn real estate business tips that will help you. Especially an agent or loan officer who is rebuilding or re-inventing themselves. 

Be sure to check out Rick's new real estate podcast, the Modern Agent Podcast, at http://www.modernagentpodcast.com

Get access to our database of Facebook Ads for Agents and Lenders that have been proven to generate leads:
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Want an expired call script that gets results? This is the same script I personally use and my team uses to list and sell thousands of expired listings! 

GET MY FREE SCRIPT BOOK? Access our private FB Group here: https://www.facebook.com/groups/584389598727184/about/

MY BIO:
Currently Own and Lead the #1 Real Estate Team in Denver
Sold over $950,000,000 in Residential Real Estate
Made over 50,000 Client Relationships through outbound lead generation
2,500+ Listing Appointments
Currently ranked in the top 1% of all Keller Williams Teams Internationally
One of the Top 1000 agents in the nation by REAL Trends & The Wall Street Journal
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Where else you can find me:
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We welcome you to the Photofocus Roundtable podcast, where each month, our panel discusses some current trends and topics on the minds of our panel. This month, we end the year by saying goodbye to the old with, "Grace, Gratitude and Good Riddance." We share what we do when asked to photograph something out of your specialty. Then we end by bringing in the new with some ideas about starting the new year in the photo business.

Thank you Photomatix for sponsoring; click the link to download and try for free.

Art that isn't Photography Shownotes:

• Wayne's Sci-Fi film from the 70s
• Spotify Album by Wayne
• The Youtuber of which Ron's Household is a fan. This one and Haiku the Husky are favorites.

About your hosts

Wayne Chasan is an American living in Spain for decades and creating stunning commercial work, check out his print shop site here.

Richard Raul Guarneros is a product of 30 + years in the offset printing industry, 25 as a print shop owner where quality control was vital to the final product. Check out his work and his workshops on this website.

Ron Pepper is a Bay Area photographer specializing in 360° panoramic images for businesses, destinations, homes, schools and more. He’s a LinkedIn Learning author, mentor and trainer. You can follow him on his website or Instagram.

Rob Moroto is a commercial photographer based in Vancouver Island. From homes to people to businesses, Rob loves showing a different perspective through his lens. He sees depth in every person and every object, no matter how plain they may seem. You can follow him on his website or at CalgaryPhotos.ca.

There's a lot of talk about strong jobs and wages yet lots of talk of inflation, and other economic problems, rights? With all the conflicting data and news reports out there, what are buyers and sellers of real estate to do or think? Join me for this 10 minute podcast analysis.

Link to referenced article:
Fortune: Robert Shiller predicted the 2008 housing bubble. Here’s his 2022 call.
https://fortune.com/2022/08/09/housing-bubble-2022-call-robert-shiller-housing-market/

Check out Fund2000.com for our Mortgage Lending team (NMLS 2277963).
Sold2000.com for our real estate Sales Team (DRE 02173355).
Learn more about host Chuck Hamm here
or on LinkedIn, and contact him at chuck@fund2000.com.

Video version of podcast on Youtube or search for Fund2000 Real Estate Podcast!

This content is not legal advice. Contact an attorney for legal advice.

For specific real estate sales or mortgage lending questions, you may contact chuck@fund2000.com