In this week’s episode of the Plutonomix Podcast, Barnaby's catching up with listeners -- to discuss some of the developments that have taken place since Trump's infamous "Independence Day" on April 2nd -- and since 2016, when he wrote a pivotal article, titled "Essential Context."  From Portfolio Construction to Market Behavior and the "Battle between the HAVES and HAVE NOTS," he highlights some of the key milestones that have brought us to where we are today.  TIMESTAMPS (01:00) Essential Context (01:15) Obama's decision to release $100 Billion in Frozen Assets to Iran (02:10) Like a big Bathtub (02:30) Adding Non-Correlated Asset Classes (03:20) The Battle between the HAVES and HAVE NOTS (04:00) Teach a Man to Fish (05:05) Small Caps (06:30) Concentration and the Power of Compounding (08:05) That which doesn't kill us, makes us stronger (09:00) The End of the World (10:00) People do have Alternatives (11:10) "A cold, dark night on the side of Everest" (12:20) Returning to First Principles (13:20) Charlie Kirk RESOURCES What I Think I Know by Barnaby Levin The Illusion of Knowledge by Howard Marks Closing Technique of the Week: The Ben Franklin Close CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton Contact Barnaby

In this week’s episode of the Plutonomix Podcast, Barnaby reminds listeners that (as he often says) "Where you STAND depends on where you SIT."  Like Trump, we may have "dodged a bullet," but now is when the real work begins: to reduce our bloated Government and Deficit; root out and eliminate (perhaps Trillions of dollars in) fraudulent and wasteful spending; and (finally) figure out how best to help people make and keep more of their own money.  Most important (however) is to do it in a way that it restores a sense of Pride in what it means to be an "American." TIMESTAMPS (01:00) China's Syndrome (02:45) Mao Zedong and the PRC (03:45) In a Trap (05:00) The Irony of TikTok (05:45) Our "Allies" (06:20) The EU's "European Commissioner for Competition" (07:55) But, what about Canada...? (09:08) RECIPROCITY (10:20) So here's My Question (11:05) "Say It Wasn't You" RESOURCES What I Think I Know by Barnaby Levin The Illusion of Knowledge by Howard Marks Closing Technique of the Week: The Ben Franklin Close CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton Contact Barnaby

In this week’s episode of the Plutonomix Podcast, Barnaby reminds listeners that (as Jean Monnet said) "People only accept Change in Necessity and see Necessity only in Crisis."  Like Trump - we may have "dodged a bullet" - but now is when the real work begins: to reduce our bloated Government; root out and eliminate (perhaps Trillions of dollars in) wasteful spending; fix the Immigration situation; figure out how to help people make and keep more of their own money; and to restore a sense of Pride in what it means to be "an American." * This Episode runs a bit longer than usual TIMESTAMPS (01:55) Paul Harvey's "If I were the Devil" (03:30) "The Fountainhead" (05:00) The "Preference Cascade" - a change in Public Opinion (06:55) "DOGE" versus "The Deep State" (11:00) It's Time to step on the Accelerator (14:15) The Will of the People (16:00) Jensen Huang's "Resilience" - the Key to Success RESOURCES What I Think I Know by Barnaby Levin The Illusion of Knowledge by Howard Marks Closing Technique of the Week: The Ben Franklin Close CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton Contact Barnaby

In this week’s episode of the Plutonomix Podcast, Barnaby suggests how the Fed – after remaining “On Hold” at 5 ½% since June 2023 – may be “Behind the Curve.”  He explains the role the “Phillips Curve” and (now) the “Sahm Rule” have played in the Fed's decision-making process since the 70’s, even though things have changed since Paul Volcker was appointed Fed Chair in 1979. He ends with a reminder how we often base our decisions on False Assumptions -- and how the way we define and react to “Risk” (when seeking to calculate an Expected Rate of Return, years into the future) will make all the difference. TIMESTAMPS (01:35) The “Sahm Rule” (02:35) An Exception to the Rule? (03:43) The Rise in the Unemployment Rate: Supply & Demand (04:45) Comparisons to the 1981-82 Recession and The Phillips Curve (07:35) Volcker versus Draghi: Doing Whatever It Takes (08:35) The Fed as “Lender of Last Resort” (10:35) Our Mission -- and defining what “Risk” Truly means   RESOURCES What I Think I Know by Barnaby Levin The Illusion of Knowledge by Howard Marks Closing Technique of the Week: The Ben Franklin Close CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton Contact Barnaby

In this week’s episode of the Plutonomix Podcast, Barnaby discusses recent, political developments and how they and some of the other key events on Tap might affect the Markets between now and the November election. Enjoy! =) TIMESTAMPS (01:00) Out of the Running (02:00) "Last Piece of the Puzzle" (03:05) Could it be Michelle? (05:30) What effect will Kamala have on the Markets? (06:30) What's next? (08:05) Election Day! and "The Battle of the Haves and Have Nots"   RESOURCES What I Think I Know by Barnaby Levin The Illusion of Knowledge by Howard Marks Closing Technique of the Week: The Ben Franklin Close CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton Contact Barnaby

In this week’s episode of the Plutonomix Podcast, Laurie was out of town so, on his own, Barnaby discusses the shifting sands of globalization and its implications for economies and businesses worldwide. As he navigates the complexities of supply chain disruptions and the revival of domestic manufacturing, he offers listeners a nuanced perspective on the ongoing transformation to more regionalized strategies. From Boeing's cautionary tale to BlackRock CEO Larry Fink's commentary on the Ukraine crisis, the episode weaves together various threads that portray a future in which things may simply have come full circle.    TIMESTAMPS (01:00) Is Globalization Dead? (01:58) The Pendulum has Swung, driving the Need to Reassess (03:00) The Lessons of Boeing: You're only as Strong as your Weakest Link (05:10) Vertical Integration versus "Just in Time" (06:50) Coming Full Circle: Reshaping "Globalization"   (07:45) The Unintended Consequences of California's Minimum Wage Hike (09:55) Finding the Balance   RESOURCES What I Think I Know by Barnaby Levin The Illusion of Knowledge by Howard Marks Closing Technique of the Week: The Ben Franklin Close CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023 Contact Barnaby Contact Laurie

In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi explore the blurred lines between technology, media and telecommunications, often referred to as "TMT." They discuss the convergence of these Sectors -- and of various Industries, in general -- and, as a result, the challenges and impact they're having on investors and consumers alike. With insights into the changing landscape of content consumption -- and the need for capital and accessibility -- Barnaby and Laurie share their perspectives on investing in the evolving world of TMT.    TIMESTAMPS (01:55) The blurring lines between Sectors and Industries (03:45) Questions raised by this Convergence (04:55) My, how things have changed (06:00) First Principles and doing your Due Diligence (06:50) Shakeups that don't always end well (08:15) The Genie's out of the bottle for Artificial Intelligence (09:05) The need for capital and accessibility in technology (09:50) The Value of investing in the Media and Social Media sectors   RESOURCES What I Think I Know by Barnaby Levin The Illusion of Knowledge by Howard Marks Closing Technique of the Week: The Ben Franklin Close CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023 Contact Barnaby Contact Laurie

In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi discuss the growing wealth divide and the consequences it will have on the economic and investment landscape - including something now referred to as "Money Dysmorphia." They explore the impact the pending, $72 Trillion transfer of wealth from Boomers to younger generations might have in the midst of this and the risks associated with being the beneficiary of sudden wealth. Barnaby and Laurie also touch on the potential benefit dividends can have in stock-picking strategies and the need for alternative investments when faced with market volatility. And they remind listeners of the importance of patience and preparation when navigating times of economic and political uncertainty.    TIMESTAMPS (01:22) How growing inequality may lead to "The Battle Between the HAVES & HAVE NOTS" (03:07) The pending transfer of wealth from Boomers to younger generations (05:00) Money Dysmorphia (06:37) The potential comeback of the Dividend Discount Model  (07:58) Battening down the hatches in uncertain times  (09:03) The importance of planning ahead, with or without an advisor  (09:53) "All that glitters is not gold"    RESOURCES What I Think I Know by Barnaby Levin The Illusion of Knowledge by Howard Marks Closing Technique of the Week: The Ben Franklin Close CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023 Contact Barnaby Contact Laurie

In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi discuss the increasingly relevant topic of wealth management and the socioeconomic challenges facing different demographics. Barnaby and Laurie talk about issues related to Social Security's sustainability and the impending, economic consequences due to the disparity between the 'haves' and the 'have nots' (that is, those that have wealth and those who do not). They look at the urgent need for reform in government spending and how these changes could positively impact personal investment strategies, if done. They also discuss the implications of large wealth transfers from one generation to the next, emphasizing the importance of financial literacy and responsibility.   TIMESTAMPS (02:00) Concerns about the affordability of buying a home (02:57) Unsustainability of the Social Security system (04:53) Potential impact of AI on productivity and GDP (05:52) Need for political reform and shared responsibility (07:29) Risks and challenges of transferring wealth to younger generations (08:52) Urgent reform needed for Social Security and Medicare   RESOURCES What I Think I Know by Barnaby Levin The Illusion of Knowledge by Howard Marks Closing Technique of the Week: The Ben Franklin Close CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023 Contact Barnaby Contact Laurie

In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi discuss the growing battle between the "Haves" and "Have Nots." They focus on the rise of Unions; the influence of Gen Z; and how Gen X might help. They not only explore the historical perspective of labor unions - and how their original purpose was to protect workers' rights - but also the role Management has played in exacerbating the widening, wage disparity and feelings of resentment between the two. However, they also highlight the negative impact unions can have on the 90% of the workforce who aren't members. Finally, while acknowledging the potential consequences of a society filled with anger and driven by impulsive behavior, Barnaby and Laurie provide investment strategies for navigating this changing landscape, including private credit, artificial intelligence and essential services.    TIMESTAMPS [01:35] The Battle between the "Haves" and "Have Nots" [07:12] Wage disparities and their effect on Society [06:08] The impact of Unions on workers and the economy, positive and negative  [09:30] The influence of Social Media when it's people primary source for news   [10:21] Investing strategies in a divided world  [11:47] Planning for the future and the Power of Compounding    RESOURCES What I Think I Know by Barnaby Levin The Illusion of Knowledge by Howard Marks Closing Technique of the Week: The Ben Franklin Close CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023 Contact Barnaby Contact Laurie

In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi remind listeners what three of the biggest risks facing the Market and the global economy are. They analyze the viewpoints of three, highly regarded investors and share their own insights on volatility; the conflict between the US and China over Taiwan; and the battle between the "Haves" and "Have Nots." Barnaby and Laurie then highlight the important role Generation X may play in shaping politics and the future of our country.   TIMESTAMPS 00:37 Reiterating three of the biggest risks to the Market 02:03 Conclusions regarding two of them, including the potential conflict over Taiwan 04:40 The importance of Demographics and generational shifts  06:05 The significance of Generation X  08:17 Neil Howe's "Fourth Turning" and the Battle of the "Haves" and "Have Nots" 10:39 "Where you Sit depends on where you Stand"    RESOURCES What I Think I Know by Barnaby Levin The Illusion of Knowledge by Howard Marks Closing Technique of the Week: The Ben Franklin Close CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023 Contact Barnaby Contact Laurie

In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi discuss the insights shared by three, highly-regarded investors in an interview on Bloomberg's "Next Big Risk." They explore the potential conflicts between the U.S and China over Taiwan; the battle between the "Haves" and "Have Nots;" and the consequence of zero interest-rate policies and Quantitative Tightening on Market behavior. Laurie and Barnaby provide their own perspectives on these issues and emphasize the importance of understanding the deeper patterns at work in order to adapt to future events.   TIMESTAMPS 02:05 US-China conflict; Wealth Inequality; and Market sell-offs  03:35 Zero interest-rate policies; debt; and their impact on the Market 06:00 Historical context of China's perspective on Taiwan (and why it matters)  10:15 The Impact of younger generations on Social Change 11:40 "The Shadow our Past projects in Front of Us" and the importance of recognizing patterns    RESOURCES What I Think I Know by Barnaby Levin The Illusion of Knowledge by Howard Marks Closing Technique of the Week: The Ben Franklin Close CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023 Contact Barnaby Contact Laurie

In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi discuss the importance of speaking openly about money, emphasizing the need for couples to align their financial goals and have regular discussions on how best to get there, together. They highlight the significance of preparing for unexpected events, such as death or divorce, by sharing passwords and ensuring all financial information is readily accessible, in such an event. And they point out the benefits -- when families do speak openly -- it can provide through reduced stress; increased understanding; and, ultimately, greater happiness.   TIMESTAMPS 02:00 Raising resilient, self-reliant kids 03:45 The importance of open communication about money in relationships 04:50 "Begin with the End in Mind" when discussing finances  06:20 It's never too early or too late to develop good money habits 06:50 Preparing for unexpected events, like death or divorce 07:35 Keeping financial information safe, but available   RESOURCES What I Think I Know by Barnaby Levin The Illusion of Knowledge by Howard Marks Closing Technique of the Week: The Ben Franklin Close CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023 Contact Barnaby Contact Laurie

In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi discuss the recent, bipartisan passage of the Debt Ceiling under the leadership of Kevin McCarthy in the House.  With the Fed finally deciding to Pause, they say this may allow us to avoid a Recession, with the caveat Treasury will now need to sell a trillion dollars of new debt to fund current spending, which may lead to an increase in rates as well.  They also highlight the challenges faced by regional banks due to commercial loans coming due and the impact vacancies will have on Debtors ability to service their debt. Finally, they look back on a few of their more recent predictions, which have proven prescient.   TIMESTAMPS 01:25 The McCarthy Compromise 03:25 Pent up Demand 03:45 The Notion of Rolling Recessions  05:50 Dispersion Among the Pundits 06:40 The PEG Ratio: Focus on Price to Earnings Growth 08:25 A Stock Picker's Market 09:25 Ahead of the Curve with Some of Their Biggest Predictions   RESOURCES What I Think I Know by Barnaby Levin The Illusion of Knowledge by Howard Marks Closing Technique of the Week: The Ben Franklin Close CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023 Contact Barnaby Contact Laurie

In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi -- after a brief discussion about the Debt Ceiling -- offer investment tips for navigating a potential Recession.  They suggest raising Cash and allocating some part of that to short-term Treasuries while, from a longer-term perspective, they consider everything from Distressed and Floating-Rate debt; to Small-Cap stocks; and (for those with a contrarian bent) Commercial Real Estate. However, when it does come to Small Cap at this point of the economic cycle, they stress the importance of diversification, as there will be "blow-ups." TIMESTAMPS [01:50] The Bond Market is betting on Recession [03:20] Giving Voice to the Minority [05:00] A true Balanced Budget Amendment [06:00] The notion of a "Rolling" Recession [08:45] Start by Building a Reserve {11:00] From Affordable Housing and Healthcare to Small-Business Lending   RESOURCES What I Think I Know by Barnaby Levin The Illusion of Knowledge by Howard Marks Closing Technique of the Week: The Ben Franklin Close CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023 Contact Barnaby Contact Laurie

In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi examine the lessons they hope we've learned from the Fall of Silicon Valley Bank -- the need for new limits and greater transparency; who's really to blame; and the consequences those responsible may (in their opinion) merit. They also explore some of the alternatives available to investors looking for higher yield and Preservation of Capital, while explaining the pros and cons of each. .    TIMESTAMPS [1:24]  It wasn’t Any One Thing.  But Whose Money is it Anyway! [3:11]  Speaking of First Republic [4:38]  Protecting your Deposits [6:32]  Should we Stick With (or Short) the Dollar? [6:58]  Stick with The Dollar? [8:47]  Like Stan says   RESOURCES What I Think I Know by Barnaby Levin The Illusion of Knowledge by Howard Marks Closing Technique of the Week: The Ben Franklin Close CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023 Contact Barnaby Contact Laurie

In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi focus on the fall of Silicon Valley Bank and its impact on the industry. They discuss the factors leading to the Bank's demise, starting with poor judgement on the part of Leadership when investing Clients' On Demand Deposits.  Barnaby and Laurie then explain how this and the failure of the Bank's Auditors has compromised trust -- in the Industry and the Federal Reserve -- and (hopefully) a few lessons we've all learned from it all.   TIMESTAMPS [01:41] Credit Suisse and The Fall of Silicon Valley Bank [04:03] When Things Started to go Wrong - and Who was to Blame [12:04] FDIC Insurance and the Bank Deposit Program [14:37] The Role of the Federal Reserve in Maintaining Financial Stability [16:19] Dealing with the Financial Turmoil by taking a Pause and Raising the Limit   RESOURCES What I Think I Know by Barnaby Levin The Illusion of Knowledge by Howard Marks Closing Technique of the Week: The Ben Franklin Close CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023 Contact Barnaby Contact Laurie

In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi talk about the Power of Compounding and how to maximize your savings with very little effort. "Compounding" can either refer to earning interest on your interest (by reinvesting what you earn at the same or higher rate) or by "letting your Winners Run."  Either way, they show how it can have a "Snowball Effect," where small actions -- taken consistently -- can lead to big results, creating financial resilience through disciplined and deliberate planning. TIMESTAMPS 01:15 Asset Allocation and Investment Strategy 01:33 The Eighth Wonder of the World 02:11 The Rule of 72 05:12 The Pareto Principle 09:59 Perks in the Tax Code   RESOURCES What I Think I Know by Barnaby Levin The Illusion of Knowledge by Howard Marks Closing Technique of the Week: The Ben Franklin Close CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023 Contact Barnaby Contact Laurie

In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi discuss Asset Allocation (the process of balancing a portfolio's potential for Risk versus Reward) by adjusting the percent invested in each asset or asset class according to a person's Goals; Timeline; and tolerance for Volatility. They emphasize the need to have tempered expectations -- while allowing time for the power of compounding to work its "magic" -- and to proactively maximize savings by investing consistently, through the Market's ups and downs.   TIMESTAMPS 1:06 What is Asset Allocation 3:08 Investing to achieve Long-Term Goals 6:31 Concentration, Focus and the Power of Compounding 9:27 Valuation and Investment Strategies in a Low-Interest Rate Environment   RESOURCES What I Think I Know by Barnaby Levin The Illusion of Knowledge by Howard Marks Closing Technique of the Week: The Ben Franklin Close CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023 Contact Barnaby Contact Laurie

In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi delve into the world of "Non Fungible Tokens" (or "NFTs") with Jake Spinowitz, Head of Community at Courtyard IO.  They explain "Smart Contracts;" share thoughts on why NFTs were initially created (and, perhaps, who they benefit most); and what the primary differences between the three categories of Open Marketplaces are.  They also discuss the very real risks of investing in NFTs (including volatility in price and value), which add another layer of risk on top of the Crypto Currencies, in which they're denominated, themselves.  TIMESTAMPS [1:02] Introduction to Jake Spinowitz, Head of Community at Courtyard IO [2:27] What is an NFT? [3:13] The value of Non-Fungible Tokens [7:10] NFT marketplaces and giving artists more control [9:23] Using technology as proof of ownership and identity    RESOURCES What I Think I Know by Barnaby Levin The Illusion of Knowledge by Howard Marks Closing Technique of the Week: The Ben Franklin Close CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023 Contact Barnaby Contact Laurie