Before we get going, here's the bit where I remind you that nothing we discussed should be considered as investment advice.

This conversation is for informational and hopefully entertainment purposes only.

So while we hope you find it both informative and entertaining, please do your own research or speak

to a financial advisor before putting a dime of your money into these crazy markets.

And now, on with the show.

Welcome everybody to another edition of Shifts Happen joining me as always is the man who more than anybody else chronicles all these shifts in real time, the ever brilliant Luke Groen, hi mate, how the devil are you?

I'm doing great, Gran, how are you?

I'm fine, I'm bouncing around as always but nothing

seems to stop while I bounce around it just counts to speed up and every now

and then I need to kind of sit down and shake my head all the stuff that's going on.

But fortunately, I get to read your work and it condenses it all for me into one often depressing

almanac to tell me know what's going on.

So you and I haven't spoken on a podcast for sometime now

and there's always just so much to catch up.

The longer we leave it, the tougher it gets.

Now I want to start with something we were chatting about just off here before we started and that is

rates traders and I want you to explain to people in simple terms why you could possibly be the most hated

man in the rates trading market.

Because I think from that stems a lot of the stuff we're going to talk about.

I just, I had a couple of different people sitting in senior seats, well-recognized hedge funds that our friends and clients say,

Lou, these race traders fucking hate you. They fucking hate you. I'm on this macro chat or this macro group and your name comes up and like

that guy and growman and I said why I'm a nice guy I'm a personable I don't know harbor no ill well and what they said is that if you're right a lot of the world they know is over a lot in terms of range trading etc of the last 20 30 years and and

...