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 Sarrezna.

Macro Voices episode 319 was recorded on April 14, 2022. I'm Eric Townsend.

This episode of Macro Voices was brought to you by FarmTogether.com where you can hedge

against inflation and protect your portfolio by investing in U.S. farmland, now available

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In reaction to overwhelming listener response, we're bringing back Bianco Research Founder

Jim Bianco for a feature interview entirely about decentralized finance and where it's

headed in the long run. Then be sure to stay tuned for our post game segment when I'll

have an editorial about one of the most important events in the history of finance, which will

occur later this year, but which has gone almost completely unnoticed by the industry.

And I'm Patrick Sarrezna. Eric, let's get to that S&P 500. What do you think is going

on here? Well Patrick, I'm surprised the markets

holding up as well as it is. You know, we had Charlie McElligot on several weeks ago and

he told us not to expect the bottom until sometime in May. I'm kind of leaning on that. I don't

see any reason to be getting excited about buying the dip until this plays out. We've got

an epic hiking cycle. Lots of things going wrong in the world. There's lots of reasons to

think that this overvalued stock market is overdue for at least a significant correction

...