All-Stars #88 Jeff Snider: The Fed is avoiding the real issue driving divergences in their models

Macro Voices

Hedge Fund Manager Erik Townsend

Business, Investing, Business:investing

4.8 • 3.4K Ratings

🗓️ 13 January 2020

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

All-Star Jeff Snider says the Fed is behind the 8 ball. Jeff says the ailing global Eurodollar system is the real reason the economy underperforms against its potential. Link: http://bit.ly/2Nn3e0e

Transcript

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0:00.0	This is a special edition of Macrovoises with hedge fund manager Eric Townsend.
0:14.2	The premier financial podcast targeting professional finance, high net worth individuals, family
0:19.8	offices, and other sophisticated investors.
0:23.0	Now for this special edition of Macrovoises, here's hedge fund manager Eric Townsend.
0:30.0	Macrovoises All Stars Episode 88 was recorded on January 13th, 2020.
0:36.3	I'm Eric Townsend.
0:38.3	Back with us in the new year, it is Jeffrey Snyder, CIO of Alhambra Investments.
0:43.9	And as usual, Jeff has prepared a terrific slide deck to accompany today's interview.
0:49.0	The slide deck download link is in the description of today's episode on our homepage at macrovoises.com.
0:56.7	This episode of Macrovoises All Stars is brought to you by top traders on plugged.com,
1:02.1	the leading podcast when it comes to quant and rules based investing.
1:06.5	I'll tell you how to claim a free copy of their new guide to the best investing books ever written
1:12.5	at the end of this episode.
1:14.4	Jeff, when we first saw this repo situation blow up, we were assured, look, this is transitory,
1:20.5	it's temporary, it's just a tiny little and a quarter thing, it's nothing to worry about.
1:25.4	There's going to be a little intervention, but it's a one-time deal.
1:28.4	No worries, nothing to see here, move along.
1:31.2	It's starting to look like the Fed's repo interventions are going to be around a little bit longer
1:35.5	than was first communicated.
1:37.7	It's maybe not going to be that one-time thing.
1:40.5	So this asset purchase plan, which we're definitely not supposed to call QE,
1:45.2	which raises the level of bank reserves, plus a temporary standby repo window to
	...

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