Navigating Today's Economic Battlefield

Stansberry Investor Hour

Stansberry Research

America, How, To, Crash, Money, Learn, Stansberry, Income, Research, Debt, Stocks, Porter, Business, Realestate, Banking, Investment, American, Investing, Invest, Howtosave, Sjuggerud, Ferris, Eifrig, Jubilee, Buck, Sexton, Market, Bonds, Churchouse, Savings, Options, Lashmet

4.4 • 677 Ratings

🗓️ 29 August 2022

⏱️ 68 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week's guest, Jeff Muhlenkamp – the lead portfolio manager of financial planner Muhlenkamp & Company – got a unique start in investing...

Jeff's background is impressive – 20 years of service in the U.S. Army, a Bachelor of Science in electrical engineering, a master's degree in organizational leadership, and a Chartered Financial Analyst designation. As a result, he brings the perfect blend of discipline, analytical prowess, and leadership to portfolio management.

Jeff's foray into investing shows just how resourceful he is... Back in 1988, when his father ran Muhlenkamp & Company, Jeff made his first investment there. He came up with the money by applying for a military car loan... then shrewdly using only a small portion to buy the cheapest car he could find and dedicating the remainder to launch a new career in investing.

Today, Jeff prefers a measured, bottom-up approach when screening for opportunities. (One of his metrics happens to be in Dan's list of "Five Essential Financial Clues.") But he knows a well-rounded investor can't discount top-down considerations as well, like the No. 1 macroeconomic factor for U.S. investors to understand right now and the importance of market-cycle dynamics.

And for his answer to Dan's "Final Question," Jeff leaves listeners with stunningly practical advice...

Don't risk money you can't afford to lose... At an individual level, where your decision-making starts is: How much do you make? How much do you spend? Are you saving money? And for what purpose?

Those sorts of strategic decisions in your life are going to be much more important than the kind of decisions you'll hear analysts and financial planners talk about.

Transcript

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0:00.0	Hello and welcome to the Stansberry Investor Hour.
0:08.0	I'm your host, Dan Ferris.
0:10.0	I'm also the editor of Extreme Value published by Stansberry Research.
0:14.0	Today we'll talk with portfolio manager Jeff Mullencamp, a man after my own heart.
0:20.0	In the mailbag today, kind of a light one,
0:23.0	just a couple of quick questions, and one of my least favorite topics, the Federal Reserve.
0:29.5	And remember, you can call our listener feedback line, 800381-2357. Tell us what's on your mind
0:35.8	and hear your voice on the show. For my opening rant this
0:38.4	week, it's all about sticking it to the man, but boy, do I wish I was the man. That and more right
0:45.1	now on the Stansberry Investor Hour. Sticking it to the man feels good i think but sometimes sometimes it doesn't go the way you think
1:03.1	it'll go and what i'm talking about are all these people who are still buying and holding and
1:09.7	promoting meme stocks, especially AMC entertainment,
1:15.6	they act like they are some part of a social movement, right?
1:21.7	Because these stocks became meme stocks because they were heavily shorted. They're terrible businesses. They're
1:30.9	going out of business. AMC, GameStop, Bed Bath and Beyond. They're going out of business.
1:38.0	So they're heavily shorted. But given the times, especially in early 2021 when this stuff started, well, you know, given the times, especially in early 20, 21 when this stuff started, well, you know, people were still home from work.
1:50.0	They were locked down or, you know, many of them still were.
1:53.6	And they had checks from the government and they were trading stocks and they got a little out of hand.
1:59.0	And they inadvertently caused an enormous short squeeze
2:03.7	in the meme stocks. That's how the meme stocks became meme stocks. They were heavily shorted and
2:10.2	they were squeezed by all these retail traders at home. So they think they're going to keep doing this. They think they've learned how to
2:21.6	create short squeezes and they have this hashtag on Twitter, M-O-A-S-S, the mother of all short squeezes
	...

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