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 or bearish, no holds barred.

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

Macro Voices Episode 190 was recorded on October 24, 2019. I'm Eric Townsend.

This episode of Macro Voices is brought to you by top traders onplugged.com, which happens

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

asset management CIO Diego Parilla joins me as this week's feature interview guest. Diego

has been getting a lot of attention for his anti-bubbles macro thesis, which we're going

to discuss in full detail. Then we'll translate Diego's macro view to actionable trading strategies.

And be sure to stay tuned for our post game segment when Patrick and I will discuss the

explosion of civil unrest, which has occurred around the globe in the past week. And we'll

also have a small chart book for extended precious metals market coverage.

And I'm Patrick Sarasna. Now listeners, please note that we taped this show early this

week late morning Eastern time on Thursday. So our market wrap and post game discussion

will not be informed of Thursday's closing numbers. So Eric, let's get to the S&P 500,

which at the time of where recording is just over 3,000. Keep edging to the words those

highs. Are we going to break out?

You know, it feels like it to me. And as I've said many times on this show, I think that's

crazy. I think the fundamentals are ought to be sending the markets straight down. But I

think it's the bad is the new good doctrine where people are expecting more accommodation

...