StoneX' Vincent Deluard: The S&P Is Hiding a Bear Market | #655
The Meb Faber Show - Better InvestingShow Notes
My guest today is Vincent Deluard, Director of Global Macro Strategy at StoneX.
In today’s episode, Vincent explains why he’s turning bearish on stocks after years of being a bull. He shares why tax collections are his favorite gauge of the economy, why the world is really paying $150 to $200 for oil and why Europe resembles Japan in 2012, just uglier.
To close, Vincent makes the case for owning the yen, Korean won and UK stocks.
(0:00) Bull Market or Bear Market?
(3:04) The Bifurcated Economy
(6:50) Turning Bearish on Stocks
(10:31) Midterm Politics and the Policy Put
(14:20) Shadow Oil and Inflation
(22:47) Shadow VIX and Market Churn
(26:40) Europe Looking Like Japan
(38:54) Bond Yields and Global Rotation
(46:08) Brazil, Korea, and France
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Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.
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Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).
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