Show Notes
Checkout 22V Advisory Direct: https://22vad.com/
Host Danny Moses welcomes back 22V Research founder and CEO Dennis DeBusschere to discuss his prior market calls, including the S&P 500 reaching 7,800, and to unpack Kevin Warsh’s first Fed rate hike since 2023. DeBusschere argues the hike is justified by unexpectedly strong growth, tight unemployment, and inflation risks, and explains how higher 10-year yields can coexist with tight credit spreads as markets price stronger growth driven in part by massive AI-related CapEx. They discuss Treasury Secretary Bessent’s efforts to influence long-term yields and why policy can’t overpower fundamentals for long, plus the role of elevated oil from the Iran war. DeBusschere outlines positioning: prefer AI beneficiaries and software/services gaining margins, be cautious on consumers, transports, and financials, and buy housing if AI CapEx slows. They also cover US midterms, Brazil’s election dynamics, and 22V’s launch of 22V Advisory Direct.
-- ABOUT THE SHOW For decades, Danny has seen it all on Wall Street and has built his reputation on integrity, curiosity and skepticism that he will bring with him each week. Having traded through the Great Financial Crisis and being featured in "The Big Short" is only part of the experiences Danny wants to share with the listener. This weekly podcast cuts through market noise, offering entertaining and informative discussions with expert guests giving their views of the financial world and the human side of it. Whether you're a seasoned investor or just getting started, On The Tape provides something for all listeners.
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More from On The Tape with Danny Moses
On On the Tape, James Aitken of Aitken Advisors recounts writing “Notes From a Small Island” for decades and describes his work helping institutional and high-net-worth clients ignore noise, stay patient, and capitalize on dislocations. In a macro backdrop of higher debt, inflation, wars, and concentrated equity leadership, he says bonds—especially parts of the Treasury curve and TIPS—now offer unusually attractive risk-reward, though they may hedge less reliably in a higher-inflation regime and could challenge risk-parity positioning. Aitken argues a government-underwritten AI and national-resilience CapEx boom is inflationary near term, with markets increasingly scrutinizing leverage and downstream project economics. He critiques Scott Bessent as buying time in Treasuries and expects Fed Chair Kevin Warsh to keep hiking to re-anchor inflation amid Middle East-driven energy risks. He views the dollar as supported by global asset-allocation inertia, stresses judgment over AI tools, and praises Mark Carney’s pragmatic reforms and efforts to attract capital to Canada.
Get RenMac's Research HERE: https://linktr.ee/renmacllc
Danny, Vinnie and Porter are joined by R.P. Eddy, founder and CEO of the global intelligence and advisory firm Ergo, and co-author of Warnings: Finding Cassandras to Stop Catastrophes.
Danny Moses welcomes back Cameron Dawson, Chief Investment Officer at NewEdge Wealth, for a deep dive into what's really holding this market together — and where the cracks are starting to show. Cameron explains why the S&P has held its 50-day moving average through war, higher oil, and a more hawkish Fed, and why that resilience comes down almost entirely to earnings. But she digs into a more troubling story underneath the Mag 7's earnings growth: deteriorating earnings quality, accounting maneuvers (reclassified leases, extended payables, one-time investment gains from stakes in companies like Anthropic and SpaceX), and a multiple that's compressed from 23x to 19x as a result. They cover the credit market's early warning signs in CCC-rated bonds, the "crowding out" effect as hyperscalers shift from self-funded to debt-and-equity-funded AI capex, why voters aren't punishing politicians for record deficits (yet), the stock market's growing role as the economy's real pressure point, and positioning in bonds, the dollar, and gold heading into next week's Fed and Bank of Japan decisions.
Danny Moses welcomes back PGA Tour Live commentator and former pro golfer Ned Michaels for a mix of golf and markets — previewing the Tour Championship and the PGA Tour's new 2028 relegation-style format, then digging into Kevin Warsh's first Jackson Hole address as Fed chair, Scott Bessent's yen/Treasury interventions, Danny's case for gold and gold miners, energy infrastructure and cannabis plays, the AI capex debate, and government shutdown odds — closing out with golf and Kalshi picks of the week.