The Pragmatic Investor

My guest today is Michael Howell , the author of Capital Wars. He understands Global Liquidity and its effects on markets better than anyone I know, and I got the chance to pick his brains for an hour in this conversation.Expect to learn:* How Trump’s presidency will affect markets in 2025* The outlook for liquidity * Risks to global liquidity as debt refinancing comes due* Best assets to hold short and long-termCheck out Michael’s work:https://substack.com/@capitalwarshttps://www.crossbordercapital.com/https://x.com/crossbordercap This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit jamesfoord.substack.com/subscribe

Investment Grade Analysis 20% Discount"The Pragmatic Investor" featuring guest Alejandro Yela , a writer on Substack known as The Hermit.The conversation revolves around Alejandro's approach to investing, his background, and his experiences in the financial world. Alejandro shares insights into his investment strategies, particularly his approach to deploying capital during specific periods. He highlights a significant trade where his position grew substantially in a short time, reflecting on the volatility and the successes of his strategy.Additionally, Alejandro discusses his writing on Substack, where he blends investment analysis, historical insights, and personal reflections. His writing covers various topics like natural monopolies and historical financial crises, aiming to educate readers and make them better investors.Alejandro emphasizes that his work is both practical and timeless, with content that will remain relevant over time.James Foord praises Alejandro's writing and encourages the audience to follow his Substack. The interview closes with the two expressing hopes to collaborate again in the future. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit jamesfoord.substack.com/subscribe

Investment Grade Analysis 20% Discounthttps://www.seekingalpha.link/34TNL7J/2QZRGT/My guest today is Michael Howell, the author of Capital Wars.He understands Global Liquidity and its effects on markets better than anyone I know, and I got the chance to pick his brains for an hour in this conversation.Not only did we discuss liquidity, but also the dollar system, Bitcoin, the outlook for the rest of 2024 and much more.Check out Michael’s work:https://substack.com/@capitalwarshttps://www.crossbordercapital.com/https://x.com/crossbordercapCheck Out My Stuff!Follow Me:   / @thepragmaticinvestor  https://x.com/JamesCFoord00:00 Introduction02:30 What Is Global Liquidity?05:20 What determines Liquidity?10:30 How the MOVE Index affects liquidity15:20 Where are we in the liquidity cycle?22:00 China and the PBoC26:30 Federal Reserve and TGA31:00 World economy and QE39:00 Long-term effects: Monetary Devaluation45:00 Bitcoin as a monetary hedge46:00 Protect your portfolio51:00 US dollar and US Outperformance53:00 AI and market concentration This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit jamesfoord.substack.com/subscribe

My guest today is Nader, a fellow trader and content creator. The Ethereum ETF will probably be approved soon, and there are talks of a Solana ETF in the works too. Solana has seen a massive rally since the lows, and a lot of people believe it could even overtake Ethereum. Which is the better buy now? In this episode, we talk about Ethereum and Solana and our expectations for the future. We then also dive into different AI altcoins we are interested in.Follow Nader:  @Realchartchamp  Follow Me: https://jamesfoord.substack.com/https://www.youtube.com/@thepragmaticinvestorAre you interested in getting more data on valuations, earnings reports and access to countless high-quality articles on stocks?Then I highly recommend you check out Seeking Alpha. Though I am now a full-time analyst and contributor, I first started writing for SA only because I wanted to obtain access to their tools and data. (That’s where I got the charts above)I use SA every day to scan for stocks, find great ideas, make investment decisions and also participate in its thriving community.Start your free trial now and get a 20% discount! This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit jamesfoord.substack.com/subscribe

After another blowout quarter by $NVDA, the AI narrative is in full swing again.But is there still money to be made here?How will NVDA and the AI market fare if the economy slows down?And what can we expect from the US economy and stock market in 2024?I discussed all this with Amrita Roy, who is incredibly knowledgeable when it comes to macro and technology.I thoroughly enjoyed this conversation, and hope you will too.Follow AmritaFollow Me:https://www.youtube.com/@thepragmaticinvestor This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit jamesfoord.substack.com/subscribe

My Guest today is My Weekly Stock , a fellow author and technical analyst.We sat down today to discuss MWS’s trading system. The indicators he looks at, how he manages risk and most importantly, how he fits in trading with a full-time job.MWS uses momentum trading in order to find good spots to enter and exit trades, but this is just one of many methods you can use.In order to trade successfully, you must find a system that works for you and fits your lifestyle.Follow My Weekly Stock https://twitter.com/MyWeeklyStockhttps://www.instagram.com/myweeklystock/Follow mehttps://www.youtube.com/@thepragmaticinvestor/videos This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit jamesfoord.substack.com/subscribe

My guest today is George Robertson, who comes on for a second time to follow up on the ideas he shared with us three months ago. After closing in on 5000 SPX, much like he predicted, the question now is; what next?George takes a simple idea, the unprecedented amount of fiscal stimulus, and uses this to develop a robust and complex investment thesis. Today, we talked about GDP, fiscal stimulus, the Fed, monetary policy, politics and the role of the US and US dollar. George is incredibly knowledgeable and a must-follow in the investment space: Follow George:https://twitter.com/BickerinBrattle George Robertson Follow Me: https://twitter.com/JamesCFoord https://www.youtube.com/@thepragmaticinvestor This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit jamesfoord.substack.com/subscribe

My guest today is Gary from Dailytstockpicks, a fellow podcaster, YouTuber, substack author and investor. After finding Gary’s podcast, I thought it would be a great idea to bring him on to talk to us about his investment style, general market outlook and the tools he uses daily as a trader/investor. Gary is very knowledgeable when it comes to technical analysis, which he complements with fundamentals. He has a really practical approach and is really good at understanding how to manage a portfolio in a simple yet effective way. I especially enjoyed talking about the tools he uses daily, such as SA and Trendspider. Follow Gary https://linktr.ee/dailystockpick Follow Me https://www.youtube.com/@thepragmaticinvestor https://jamesfoord.substack.com/ This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit jamesfoord.substack.com/subscribe

My guest today is Ben, from  @morecryptoonline. He is a fellow Elliott Wave analyst and crypto investor. A lot has happened since our last chat about Bitcoin, with the world's first cryptocurrency breaking past $40,000. Is this a new bull market? How high can Bitcoin go? What are the best altcoins to invest in? These are only a few of the questions we covered today. I always enjoy talking to Ben. His command of EWT is unparalleled, and he is also great at laying out the theory and levels in a way that traders and investors can actually implement. Follow Ben https://www.morecryptoonline.com/ https://www.youtube.com/@morecryptoonline Follow Me https://jamesfoord.substack.com/ https://www.youtube.com/@thepragmaticinvestor This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit jamesfoord.substack.com/subscribe

00:00 Introduction06:00 A Different Way Of Thinking12:00 What really happened in the GFC?25:00 A Secular Housing Shortage32:00 Housing Market in 202447:00 The Fed Did Not Kill Inflation01:10:00 How To Profit From HousingKevin Erdmannis the author behind the Erdmann Housing Tracker. He is also the author of Building from the Ground Up: Reclaiming the American Housing Boom and Shut Out: How a Housing Shortage Caused the Great Recession and Crippled Our EconomyI stumbled onto Kevin’s substack and was quickly captivated by his unique views on the Fed and housing. In this conversation, we talked about the role of housing and real estate in the economy. How this affect the business cycle and, most importantly, what the underlying secular trends driving housing are.Kevin believes there is a secular shortage of housing in the US, which will support continued price appreciation. So how do we profit from this? That’s exactly what we discussed in the last quarter of the interview, and Kevin went into great depth as to how investors can benefit in the coming years, even dropping some specific namesDon’t forget to follow Kevin:Disclaimer: This interview is intended for general guidance and information purposes only. This report is under no circumstances intended to be used or considered as financial or investment advice, a recommendation or an offer to sell, or a solicitation of any offer to buy any securities or other form of financial asset. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit jamesfoord.substack.com/subscribe

My guest today is Mike Fay, better known as the Heretic Speculator.With the altcoin market starting to show signs of life, I thought this would be a great chance to get Mike on the show since he is incredibly knowledgeable when it comes to crypto.We jumped straight into it, and I got Mike to share his thoughts on some specific cryptocurrencies.We then talked about the general crypto market, the regulatory environment, stocks, NVIDIA, and we ended with some politics just for good measure.Follow Mike:https://substack.com/@faybombCheck out the Youtube video: This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit jamesfoord.substack.com/subscribe

Hello everyone, and welcome back to The Pragmatic Investor.My guest today is Amrita Roy, a fellow substack author, macro enthusiast and like-minded Pragmatist.Today, we had a great conversation about the outlook for the US economy.Starting with the big picture, Amrita tells us how the fiscal and monetary policies of the last ten years have led us to the predicament we find ourselves in today.We then dive into how things could play out in terms of inflation, rates and what this means for stocks.From the macro to the micro, we covered employment, the health of the US consumer, the recent earnings and emerging trends in tech and AI.To wrap up, we discussed possible scenarios for 2024 and discussed ways investors can position themselves for the coming year.I thoroughly enjoyed this conversation with Amrita, and I’m sure you will, too.If you haven’t already, do yourself a favour and go follow her on substack, where she writes as The Pragmatic Optimist.In just a few months, she has already amassed a great following and was recently featured on Substack Reads. As always, I hope you enjoy this conversation as much as I did.Follow Amrita:Follow MeYoutube.com/@thepragmaticinvestorhttps://twitter.com/JamesCFoord This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit jamesfoord.substack.com/subscribe

My guest today is tomthetrader, an investor with over 13 years of experience trading and analyzing markets.Tom is incredibly knowledgeable regarding TA and has some very interesting ideas about where the market sits right now and where we are heading.As the market makes new lows, investors are beginning to panic, which might be exactly what we need.Tom's combination of technical analysis with sentiment indicators makes for a very compelling analysis.I suggest you follow along this podcast with some of the charts Tom provides in this post on his substack:Don't forget to like, share and subscribe, and as always, I hope you enjoy this conversation as much as I did.Follow Tom:⁠https://linesonachart.substack.com/⁠⁠https://twitter.com/tomthetrader1⁠Follow Me⁠https://twitter.com/JamesCFoord⁠ ⁠https://www.youtube.com/@thepragmaticinvestor⁠ This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit jamesfoord.substack.com/subscribe

My guest today is Kashyap Sriram. We had the pleasure of speaking a few weeks ago when his thread on the NVIDIA earnings went viral. Today, we got to revise this short thesis on NVDA, but we also covered A LOT more. We discussed the macro outlook for the US, the implications of war for investors, inflation, rates, monetary policy, gold Bitcoin and Austrian economics. I really enjoyed this conversation with Kashyap and I felt like I really got a good understanding of what his process is as an investor. Please enjoy, like, share and subscribe! Follow Kashyap: Twitter: https://twitter.com/kashyap286 https://www.kashyapsriram.com/ Follow Me:Twitter: https://twitter.com/JamesCFoordYoutube: / @thepragmaticinvestor This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit jamesfoord.substack.com/subscribe

My guest today is George Robertson, a seasoned investor with plenty of experience in the industry. Everyone is concerned that higher rates will break stocks, but not George. The way he sees it, both rates and stocks will climb together, as they are a sign that NGDP will come in strong.The way George sees it, we could be at the beginning of a speculative phase, which will eventually turn into an all-out "Ponzi". As always, I hope you enjoy this conversation as much as I did. Follow George:https://twitter.com/BickerinBrattle https://t.co/p5KGszzINC Follow me: https://twitter.com/JamesCFoord This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit jamesfoord.substack.com/subscribe

My guest today is Mike Fay, a fellow SA contributor, author of the Heretic Speculator and a like-minded "alternative thinker".We had a great conversation today about NVIDIA, the forces that control the market, the US dollar, gold and Bitcoin, geopolitics, politics, alternative investments and, most importantly, how to invest in this challenging environment. I really enjoyed this conversation with Mike. He is incredibly fun and knowledgeable. If you haven't already, check out his stuff! Follow Mike: Follow Me: https://www.youtube.com/@thepragmaticinvestorhttps://twitter.com/JamesCFoord This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit jamesfoord.substack.com/subscribe

My guest today is Ben, a fellow Elliott Wave Theorist and Youtuber. We had a great conversation about the intricacies of EWT. How can EWT improve your trading and help manage risk? We also went in-depth about trading and investing in cryptocurrencies, which is Ben’s area of expertise.I got the chance to ask Bwn what he thinks about crypto in general, Bitcoin vs. the altcoins, his short and long-term outlook, and so much more.We even got to discuss more general investments and the market as a whole.I really enjoyed this conversation with Ben. He is very knowledgeable when it comes to crypto and EWT, and it was a pleasure having him on.Follow Ben:https://www.youtube.com/@morecryptoonlinehttps://www.morecryptoonline.com/Follow Me:https://www.youtube.com/channel/UCUNZ28Ydsumo0P8FZ9OtquASubstack: https://jamesfoord.substack.com/ Twitter: https://twitter.com/JamesCFoord Spotify: This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit jamesfoord.substack.com/subscribe

My guest today is Trading Places Research, a fellow SA contributor and a real connoisseur of AI and the technology that powers it.TPR knows chip companies with incredible detail, which is why he came on today to discuss the Arm IPO.ARM sits at the heart of almost all chip manufacturing, which is why this IPO is incredibly important.But should investors buy ARM and what does this mean for other chip companies? All this and more were discussed in the interview. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit jamesfoord.substack.com/subscribe

My Guest Today Is Kashyap Sriram. He is a fellow investor and content creator who recently went viral after posting a Twitter thread on NVIDIA.In the thread, he exposed some anomalies in NVIDIA’s earnings and share repurchases. Specifically, it seems quite clear now that the earnings beat was only possible thanks to nearly $3 billion in revenue, which the company has recognized but not been paid for yet.This comes at a time when the relationship between NVIDIA and CoreWeave is also being scrutinized.* Is NVIDIA guilty of something illegal here?* Does the company face a risk of impairment loss in the future?* How can investors profit from this situation?We covered all this and more in the 1-hour interview.I really enjoyed this conversation and hope you will, too!Follow Kashyap:Twitter: https://twitter.com/kashyap286His website: https://www.kashyapsriram.com/Follow Me:Twitter: https://twitter.com/JamesCFoordYoutube:https://www.youtube.com/channel/UCUNZ28Ydsumo0P8FZ9OtquA This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit jamesfoord.substack.com/subscribe

My guest today is Mike Zaccardi, a fellow financial writer and chart lover. We had a great conversation today about the outlook for markets as we enter what is historically the worst month for stocks. We began by discussing the recent JOLTS data and the outlook for rates and inflation. We then moved into a discussion on China and Japan, which have been making headlines in the past few weeks. Is there a chance of a market crash? What are the key levels to look out for in the S&P 500? Mike runs us through all this and also what he sees as the best sectors of the economy to get into right now. We even got the chance to discuss select stocks, like NVIDIA and one of Mike's favourite "agricultural commodity plays". All in all, it was a great conversation filled with great insights. Hope you enjoy it as much as I did, and don't forget to like, share and subscribe. It really makes my day! Follow Mike: https://seekingalpha.com/author/mike-zaccardi-cfa-cmt https://twitter.com/MikeZaccardi Follow Me: Substack: https://jamesfoord.substack.com/ Twitter: https://twitter.com/JamesCFoord Spotify:Youtube:https://www.youtube.com/channel/UCUNZ28Ydsumo0P8FZ9OtquA This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit jamesfoord.substack.com/subscribe