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 307 was recorded on January 20, 2022. I'm Eric Townsend. This episode

is brought to you by ABAC's Technologies, pioneering the design of smarter markets that

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

billion dollar alternative investment platform that lets you invest in art by legends like

Warhol and Picasso for a fraction of the cost.

McQuarry Chief Macro and Asia Pacific Strategist Victor Schfits returns as this week's

feature interview guest. We'll touch on inflation and then move on to what's driving various

macroeconomic classes around the globe. Then be sure to stay tuned for our post-game segment

when Patrick's Chart Deck is titled Equities, Oil, Gold and More.

And I'm Patrick Sarresna, Eric. Let's jump straight to that S&P 500. The last couple

weeks have been pretty tough. I mean we're almost 300 points off the highs. I want to talk

about this when we get to the post-game. But what's your take on these markets? Is there

more risk here? Patrick, I think this is a critical moment to watch very carefully. I don't

know which way it's going to resolve. But to really see why we need a chart of the

S&P Continuous Futures contract showing the 100 Day Moving Average. We're going to have

that in the post-game segment. So I'm going to save a lot of the commentary for then. But

the gist of it is, look, if you think that by the dip is the thing to do, you got your

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