Erin Miles, Bridgewater Associates – Who Will Prove Most Vulnerable to the Pullback in Liquidity? (The Best Investment Writing Volume 6)

The Meb Faber Show - Better Investing

The Idea Farm

Business, Investing, Management

4.7 • 938 Ratings

🗓️ 27 July 2022

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today’s episode features Erin Miles reading her piece, Who Will Prove Most Vulnerable to the Pullback in Liquidity? Erin joined Bridgewater in 2009, and is currently Co-Lead of Equities Research and serves as the Operating Chair of the Partnership. She is responsible for leading research to convert insights and investigations into systematic cause-and-effect investment algorithms. The Best Investment Writing series features top research pieces that we’ve shared via The Idea Farm in the past year. Subscribe here so you get these sent to you each week. Check out the past series of The Best Investment Writing below: Volume 5 Volume 4 Volume 3 Volume 2 Volume 1 ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today’s episode is sponsored by Stream by AlphaSense. Stream is an expert transcript library used by people just like you to quickly perform preliminary diligence on new ideas related to their target companies in the tech, media, telecom, healthcare, consumer and industrial sectors; avoiding the time, hassle, and cost of traditional expert network calls. With over 15,000 on-demand expert call interviews, 100+ new transcripts added each day, AI smart search technology, and 70% of our experts unique to our network, it's no wonder the world's leading financial firms choose Stream. Sponsor dollars for the entire Best Investment Writing series are being donated to the charity of the guest’s choice. Today’s sponsor dollars are being donated to GiveDirectly on behalf of Erin Miles. ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! ----- Disclaimer: All opinions expressed by website participants are solely their current opinions and do not reflect the opinion of Cambria Investments, Inc. (“Cambria”) or affiliates. The website participants opinions are based upon information they consider reliable but neither Cambria or its affiliates warrant its completeness of accuracy, and it should not be relied on as such. Past performance is not indicative of future results. Strategies or investments discussed may fluctuate in price or value. Investment or strategies mentioned in this website may not be suitable for you and you should make your own independent decision regarding them. This material does not take into account your particular investment objectives, financial situation or needs and is not intended as recommendations appropriate for you. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome podcast friends. We're back with volume six of the best investment rioting
0:12.2	series each year our team carefully sorts
0:15.0	through tons of research and investment letters from some of the most
0:18.2	respected money managers and investment researches from all over the world to
0:22.3	pick the best of the best to share with you.
0:24.4	We offer the authors of those pieces the chance to record an audio version as a segment of
0:29.1	the podcast. Past participants included the likes of Cam Harvey, Larry Swedro, and Rob or not.
0:35.0	Enough for me. Let's get to our guests and let them take over this special episode.
0:40.0	I'm Erin Miles. I'm co-lead of Equity's Research at Bridgewater Associates, an asset management
0:46.7	firm focused on delivering insight in partnership to many of the most sophisticated
0:51.1	global institutional investors
0:53.0	around the world.
0:54.4	And today I'm going to be reading a research piece
0:56.5	I wrote back in October 2021 entitled,
0:59.9	who will prove the most vulnerable
1:01.6	to a pullback in liquidity?
1:03.8	For a little bit of context, I wrote this piece for Bridgewater's daily observations,
1:08.2	which is a publication we share with our clients daily that focuses on trends and developments and global
1:13.6	financial markets and economies. If you want to read more of our research, feel free
1:17.9	to head on over to W.W.
1:19.2	Bridgewater.com. Now let's get started. With Central Banks around the world winding down quantitative
1:26.7	using the extraordinary push of liquidity of the past two years is now set to
	...

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