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 Sarresna.

Macro Voices episode 304 was recorded on December 30, 2021. I'm Eric Townsend, happy new year.

This episode is brought to you by Abbex Technologies, pioneering the design of smarter markets

that better serve the needs of both market participants and society as a whole. And by

escrow.com, the world's most secure online payment system from a counterparty risk perspective

because the funds sit in escrow. GavCal Research Founder, Louis Vincent

Gav returns his 2021's final feature interview guest. We'll discuss the big picture of where

the world of macro stands and what lays ahead in 2022.

And I'm Patrick Sarresna, Eric, let's get into that S&P 500. It broke to fresh new highs

at the start of the week. And it's holding it up till now. What's your take on the market

as a more upside from here? Well, Patrick, since this is the last market

wrap of the year, let's take a step back and I'll take everything from a slightly longer

term perspective and just put this whole equity market in long term perspective. We've

had an equity market that for the last 10 years has completely defied gravity and defied

the amazement of a lot of people myself included and it seems like central bank stimulus

is going to keep cranking asset prices higher. So I think there's plenty of that still

to come. Now, meanwhile, the Fed has kind of painted themselves into a corner in the sense

that they've made this announcement that they're really serious about tapering stimulus.

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