Chad Cascarilla – Update on Tail Risk - [Invest Like the Best, EP.165]

Invest Like the Best with Patrick O'Shaughnessy

Colossus

Investing, Business, Technology

4.8 • 2.4K Ratings

🗓️ 25 March 2020

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

My guest today is Chad Cascarilla, here to discuss some of the tail risks in the economy and markets as of March 24th in the midst of the Coronavirus pandemic. Chad was one of the most successful investors during the global financial crisis with a specialty in the banking and finance systems. He now runs Paxos, a trust company which trades and custodies unique products like pax gold, bitcoin, and other tokenized assets including simple pax dollars. I feel it is important to avoid confirmation bias in times like this and not just talk to people are optimistic or long, and while I still believe this is ultimately a positive and optimistic conversation, Chad acknowledges and outlines scenarios that few are talking about yet in the markets.

This episode is brought to by Koyfin.

For more episodes go to InvestorFieldGuide.com/podcast.

Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub.

Follow Patrick on Twitter at @patrick_oshag

Show Notes

(2:04) – (First question) – Today’s market and the porridge scenario

(7:38) – Risks to the market that people aren’t focused on

(10:54) – What lessons from 2008 do we need to heed this time

(13:07) – How does he think about inflation on the other side of this crisis

(16:02) – What does a too cold recovery look like

(20:35) – Benefits of nationalizing the banks vs pumping liquidity

(24:13) – What does the just right recovery look like

(25:24) – Assets that might be ideal to hold in a too hot or too cold scenario

(29:00) – His take on how Bitcoin has performed during this crisis

(31:53) – The US’s inherent strengths compared to the rest of the global economy

(34:50) – Advice for people

(38:59) – Paxos.com

(39:48) – What is he monitoring to see which way things shake out

Learn More

For more episodes go to InvestorFieldGuide.com/podcast.

Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub

Follow Patrick on Twitter at @patrick_oshag

Transcript

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0:00.0	This episode of Invest Like the Best is brought to you by Paxos.
0:03.4	I have personally interviewed Paxos's CEO Chad Caskarilla on this podcast before,
0:08.1	and I'm excited about how they're changing the crypto landscape.
0:11.4	Whether you're a small fintech or a large financial institution,
0:14.6	with Paxos crypto brokerage,
0:16.2	you can offer your customers crypto buying, selling, transferring, and more,
0:20.0	all with Paxos is easy to integrate APIs.
0:23.2	Paxos takes care of everything in the back end,
0:25.4	from licensing and compliance to custody and exchange.
0:28.8	You can start offering crypto to your customers within months.
0:32.0	I've gotten a no Paxos over the years,
0:33.6	and I've been personally impressed with their track record.
0:36.0	With clients that include PayPal, Venmo, Revolut, and Bank of America,
0:39.9	they're the most trusted infrastructure provider for crypto and blockchain.
0:44.0	I'm excited that more fintechs and banks are starting to offer crypto features,
0:47.8	and Paxos crypto brokerage is the best way to get the market quickly and safely.
0:51.8	To learn more, visit Paxos.com forward slash Patrick.
0:55.3	This episode is brought to you by Coifen.
1:00.9	I've become very interested in the best software tools and investing,
1:03.9	and when I asked Twitter for the best Bloomberg alternative,
1:06.3	the overwhelming winner was an excellent new product called Coifen.
1:09.5	It's a web-based platform that lets you analyze stocks, ETFs, mutual funds,
	...

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