WAWD Reunion: Porter Collins and Vincent Daniel Are Back for On The Tape
On The Tape with Danny MosesShow Notes
Danny Moses reunites with former partners Porter Collins and Vincent Daniel to discuss trading and positioning amid a fluid backdrop including Middle East conflict and Iran de-escalation headlines, quarter-end effects, and how energy infrastructure drives both the war’s stakes and market reactions. The group frames the key macro inputs as oil, interest rates, and the dollar, arguing higher rates and volatility pressure equity multiples, while government debt and potential Fed/Treasury actions support their bullish gold thesis and preference for cheap gold miners. They debate Mag 7 reflex rallies driven by bearish positioning, rotation risks for energy, private credit/PE firm opportunities and regulatory threats, and provide cautious updates on Fannie/Freddie preferreds. They close with Masters picks and betting strategies, including Xander Schauffele, Fitzpatrick, and others.
Checkout the WAWD Substack Here: https://whatarewedoingonthedesk.substack.com/
Timecodes 00:00 - WAWD Updates 04:06 - Taco Tuesday Macro Chaos 08:20 - Rates Debt And Gold 19:11 - Volatility and Positioning 25:15 - Private Credit and Policy Risk 32:23 - Masters Picks and Wrap
-- 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.
Checkout 22V Advisory Direct: https://22vad.com/
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.