This is a special edition of Macrovoises with hedge fund manager Eric Townsend.

The premier financial podcast targeting professional finance, high net worth individuals, family

offices, and other sophisticated investors.

Now for this special edition of Macrovoises, here's hedge fund manager Eric Townsend.

Macrovoises All Stars Episode 105 was recorded on May 18, 2020. I'm Eric Townsend.

This episode of Macrovoises All Stars is brought to you by top traders on Plugged.com,

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written at the end of this episode. Joining me today is Juliet DeClerk, founder of J.

D.I. Research. Juliet, there are two schools of thought at the moment.

The deflationists like Lacey Haunt and Stan Drakkenmiller are looking for depression and

the hyperinflationists like Paul Tudor Jones have a different view.

Where do you stand on this inflation versus deflation issue?

Hi, Eric. That's a great question. I normally don't read much from those well-respected gurus

because I tried to keep J. D.I. Research thinking process original and independent using

a framework that's proven reliable for years, which is as far away from any dogmatism as possible.

But this time I've had no choice. I've been someone by my clients to read everything from those

sinking minds and play devil advocates. Everyone wants to know why this person with such

historical success may not be right this time. So I'll summarize my sinking for you because I've

had a lot of time to think about this. Firstly, I think that looking at past trends and

coalitions to call to the strengths will be counter-projective. Dogmatism is something I constantly

want J. D.I. clients against because policymakers learn from each crisis, which means that there's

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