Joe Rogan for Fed Chair! Feat. Hugh Hendry

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 12 August 2020

⏱️ 69 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today on the Brief: A public company has switched $250 million in cash reserves to bitcoin The latest in the vaccine rumor trade with Vladimir Putin’s propaganda play Hong Kongers use the stock market to protest Our main conversation is with former hedge fund manager Hugh Hendry. After a few years of focusing on a “volatility at the end of the world trade” in property development in St. Barth’s, the constant contrarian Hugh Hendry has returned to the macro world in a big way. In this conversation, Hugh and NLW discuss: Why Hugh left macro, and why he came back How he lost three years being angry at the Fed How he came to be bullish on equities in 2012 How money managers become trapped by narratives Why the Fed should actually be less, not more, conservative Why we need someone like Joe Rogan as Fed chair Find out guest online: Website: hughhendryofficial.com Twitter: @hendry_hugh

Transcript

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0:00.0	I massively increased the spigot.
0:02.6	I just pump dollars into my economy.
0:05.2	And therefore, isn't the consequence of that would be that the price of a marginal dollar
0:09.3	unit would fall.
0:11.5	But the weird thing is that since you've been doing this, each marginal dollar that you
0:16.0	produce is becoming more valuable.
0:17.8	So your heart's not in it.
0:20.2	I kind of reason that perhaps the Centro-Mite
0:22.3	just were asking it to be really, really irresponsible. And these guys were not made to be
0:29.0	irresponsible. Put me in charge her like Joe Rogan, you know, a caricature. It's a game of
0:34.5	psychology. If you can get in people's minds and make them think differently, you change history.
0:43.5	Welcome back to The Breakdown with me, NLW.
0:47.7	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:53.5	The breakdown is sponsored by Crypto.com, Bitstamp, and nexo.io, and produced and distributed by
1:00.0	CoinDesk.
1:03.4	What's going on, guys?
1:04.8	It is Tuesday, August 11th, and today we have an interview that I am so excited to share
1:10.5	with you. Yesterday, I got to chat with
1:13.3	hedge fund manager turned St. Bart's villa manager Hugh Hendry about just a huge variety of topics
1:21.1	in business, finance, philosophy, and beyond. There are some pretty surprising parts of that conversation, so I'm really excited for you
1:30.4	guys to hear it. First, however, let's do the brief. First up on the brief, Micro Strategies 250 million
1:38.4	Bitcoin buy. So what happened? Micro Strategy is a NASDAQ listed business intelligence platform that was founded
	...

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