All-Stars #98 Luke Gromen: Stocks will keep selling off unless the Fed buys unlimited debt

Macro Voices

Hedge Fund Manager Erik Townsend

Business, Investing, Business:investing

4.8 • 3.4K Ratings

🗓️ 23 March 2020

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

All-star Luke Gromen says the only way for stocks to trade is down unless the Fed buys an unlimited amount of debt. P.S. both of those things are happening as we release this episode! Link: https://bit.ly/2QHpAuR

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.
0:30.2	Macrovoises All Stars episode 98 was recorded on March 23rd, 2020.
0:35.7	I'm Eric Townsend.
0:37.4	This episode of Macrovoises All Stars is brought to you by top traders on Plugged.com,
0:43.0	the leading podcast when it comes to quant and rules based investing.
0:47.3	I'll tell you how to claim a free copy of their new guide to the best investing books
0:52.4	ever written at the end of this episode.
0:55.2	Joining me now is Forest for the Trees Founder Luke Gromund.
0:59.4	Luke, today Monday the 23rd of March, we had what arguably is the biggest monetary policy
1:07.0	intervention in the history of financial markets.
1:10.2	Asset prices went shooting straight up and it lasted less than two hours before they
1:14.6	had fully retraced, which really says something.
1:17.7	I want to get your perspective on that.
1:19.7	But first, let's start with the backstory.
1:23.1	What have you been thinking about in the last few weeks as this crisis has begun to unfold?
1:28.0	With respect to the markets and let's say the last four weeks or so that we've just
1:32.4	experienced?
1:33.4	Eric, thanks again for having me on.
1:36.5	I think it'll be great to kind of run through some of the background first because I think
	...

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