4.8 • 670 Ratings
🗓️ 12 July 2023
⏱️ 75 minutes
🧾️ Download transcript
HSBC Senior Economic Adviser Stephen King joins the show to discuss the most important long-term issue facing western economies: inflation. Stephen’s new book - We Need To Talk About Inflation - is an FT “book to read in 2023” for good reasons. He explains why inflation is not just about money creation, it also depends on public perceptions and the fatal temptation of governments to usurp central bank independence (what he calls the Richard Burton - Elizabeth Taylor rule). Stephen explains how to evaluate future inflation risks through his “4 Inflationary Tests” and we talk through how the US and Europe currently measure up.
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Episode TimeStamps:
02:05 - Introduction to Stephen King and his book
09:00 - The relationship between public behaviour and the supply of money
13:21 - Can it be deflationary?
17:12 - The Taylor Burton effect
30:29 - The unfairness of inflation
37:46 - Has the impact of inflation become worse over time?
46:26 - Institutional changes and inflation...
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0:00.0 | There's no doubt in my mind that inflation creates winners and losers. |
0:10.0 | It is very unfair and there's no discussion about it. |
0:13.0 | You sort of like a lottery, you discover five years, ten years down the road that you have lost |
0:18.0 | out where you've made a significant gain, but that loss or gain has nothing to do |
0:22.1 | with you and everything to do with your starting position, and whether you were either a vulnerable |
0:26.5 | person in light of higher inflation, or whether you're a person who's like to be blessed |
0:30.0 | by higher inflation. |
0:33.3 | Imagine spending an hour with the world's greatest traders. |
0:37.0 | Imagine learning from their experiences, their successes, and their failures. |
0:42.0 | Imagine no more. |
0:43.5 | Welcome to Top Traders Unplugged, the place where you can learn from the best hedge fund managers |
0:48.6 | in the world so you can take your manager due diligence or investment career to the next |
0:53.4 | level. Before we begin |
0:54.9 | today's conversation, remember to keep two things in mind. All the discussion we'll have about |
0:59.6 | investment performance is about the past, and past performance does not guarantee or even infer anything |
1:05.3 | about future performance. Also understand that there's a significant risk of financial loss |
1:09.8 | with all investment strategies, |
1:11.1 | and you need to request and understand the specific risks from the investment manager about their product before you make investment decisions. |
1:19.0 | Here's your host, veteran hedge fund manager, Niels Kostrup Larson. |
1:34.0 | For me, the best part of my podcasting journey has been the opportunity to speak to a huge range of extraordinary people from all around the world in this series i have invited one of them namely kevin |
1:39.8 | coldine to host a series of in-depth conversations to help uncover and explain new ideas to make |
1:46.0 | you a better investor. |
... |
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