This is Macro Voices with hedge fund manager Eric Townsend, the free weekly financial

podcast targeting professional finance, high net worth individuals, family offices, and

other sophisticated investors. Macro Voices is all about the brightest minds in the world

of finance and macroeconomics telling it like it is. Bullish your bearish, no holds

barred. Now here are your hosts, Eric Townsend and Patrick Sarasna.

Macro Voices episode 189 was recorded on October 17th, 2019. I'm Eric Townsend. This

episode of Macro Voices is brought to you by our friends at toptradersonplug.com, which

happens to be my own favorite podcast when it comes to quant and rules based investing.

Macro Mavens founder Stephanie Pomboi joins me as this week's feature interview guest.

Stephanie put together a terrific chart deck to accompany this interview and will discuss

everything from retail sales data to the disparity between corporate earnings and S&P 500

earnings. Stephanie will explain why the two really are not the same thing, even though

almost everyone assumes that they are. And be sure to stay tuned for our post-game segment

after the feature interview when Sprott Global's Rick Rule will be joining us. I'm going

to ask Rick to talk to us about how sophisticated investors, let's say a family office with

a hundred million dollars of assets under management, should pursue not only investing

in precious metals, but also both public and private equities in the sector. So we're

going to cover some advanced material relative to Golden Silver investing in our post-game

segment. And of course Patrick will also have one of his famous chart books with an update

and extended equity market coverage. And I'm Patrick Suresna, now Eric that S&P 500

has recovered much of the little market correction we had in the start of October. What's your

thinking on the S&P now that we're around this 3000 level? Well, you know, it feels to

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