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 309 was recorded on February 3, 2022. I'm Eric Townsend. This episode

is brought to you by Abics 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. Financial Times AlphaVill's outgoing managing

director Isabella Kaminsky joins me as a first time feature interview guest. Is he

and I will discuss everything from inflation to sustainability of Uber and Airbnb's business

model? Then be sure to stay tuned for our post game segment when Patrick's Chart Deck

is titled Update on the Bond Markets. And I'm Patrick Sarresna, Eric. Let's jump

to that S&P 500. It's been a pretty strong week, almost four straight updates and then

today giving some back in the post Facebook news. What's your thoughts on the markets here?

Well Patrick, just as you told our listeners to expect last week, right through Tuesday

of this week, boy, it was so tempting to just interpret that chart as boy, look at that

V-shaped recovery. Here we go on our way to all time highs once again because of course

that's the way this market has played for the last several years. And of course, just

as you warned our listeners, as soon as we got back up to that 100 day moving average,

boy, market found a little bit of resistance. Now the big question is, okay, does that mean

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