The Imminent Death of the Middle Class with Porter Stansberry

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

🗓️ 20 November 2023

⏱️ 76 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On this week's Stansberry Investor Hour, Dan and Corey welcome Porter Stansberry back to the show. Porter founded Stansberry Research in 1999, and he recently returned as CEO and chairman of parent company MarketWise (MKTW). With more than 25 years of experience as a financial analyst and publisher to draw on, Porter shares his opinions on the current state of the markets and which areas of the economy look most attractive today.But first, Dan and Corey talk about investors' unfounded hopes for falling interest rates and some Wall Street analysts predicting that the Federal Reserve will soon cut rates by 150 basis points. "I just don't see that happening," Corey says. Afterward, the conversation shifts to the bond market, the drop in demand for U.S. Treasurys, China "imploding minute by minute," and the biggest "turkeys" who have made the most absurd financial decisions this year. Plus, Dan explores investor psychology and how it has been warped by a decade-plus of low rates and the longest bull market in history. (0:00)

Porter then joins the show and discusses why Ayn Rand's 1957 book Atlas Shrugged continues to be relevant today, General Motors' chances of going bankrupt again, and his "new, old" job as CEO of MarketWise. He explains his strategy for the company going forward. (25:08)

Moving on to the broader economy, Porter shares an updated prediction of what he sees
coming for the market. In mid-September, he was concerned we were on the cusp of another major financial crisis. But now he thinks the immediate danger may be past. (42:34)

Porter also shares that most quality businesses out there trade for high valuations, but those
with unrecognized quality still present fantastic buying opportunities today. Even companies
that have recently made negative headlines can still have incredible underlying value.(48:48)

Finally, Porter details what's happening in the bond market right now and why he believes it's worth investing in. And you won't want to miss his parting message, where he explains why it's a great time to be alive despite any global issues or societal problems. "Most investors make the mistake of not being optimistic enough," he says. (57:35)

Transcript

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0:00.0	Hello and welcome to the Stansberry Investor Hour. I'm Dan Ferris. I'm the editor of Extreme Value
0:05.2	and the Ferris Report, both published by Stansberry Research. And I'm Corey McLaughlin, editor of the
0:10.4	Stansberry Daily Digest. Today, Dan interviews Stansberry Research founder and market-wise,
0:16.7	chairman and CEO, Porter, Stanford. And today, Corey and I will talk about the bond market,
0:22.5	inflation and deflation, de-dollarization, and turkeys. And remember, if you want to ask us a
0:29.4	question or tell us what's on your mind, email us at Feedback at InvestorHour.com. That and more right
0:35.2	now on the Stansberry Investor Hour.
0:41.0	I'm sorry, but I need to jump right in with something that is just bothering me because I've
0:48.2	looked at it for 10 solid minutes right before we started recording this.
0:53.6	And that is a two-year chart of the 10-year
0:56.5	yield. And you know what I see? I see it's up, right? It's up and to the right. Okay,
1:03.5	because, you know, 10 years gone from like, let's see, I think from March 22, let's see, I got
1:09.5	basically 1.7% to about 4.5% right now, a little
1:14.1	less than 4.5.
1:15.1	And I've got these arrows in it.
1:17.6	And there's like eight of them that point down.
1:21.1	So like eight times, including like in the past month or so, eight times the narrative has been, this is it,
1:29.6	Fed hikes are done, cuts are coming, etc, eight times at least.
1:35.6	And if I wanted to be really sort of picky about it, I could probably find a ninth and a tenth.
1:40.7	Yes.
1:40.9	And the narrative is just like relentless.
1:43.9	It's relentless and it's in the bond
	...

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