“This will be a quarter long remembered”; Interview with Raoul Pal

RiskReversal Pod

RiskReversal Media

Business News, Business, Investing, News

4.7 • 836 Ratings

🗓️ 1 April 2021

⏱️ 68 minutes

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Summary

Guy, Dan and Danny discuss the Archegos fallout (0:29), we reflect on the quarter that was (3:51), and we get Danny’s take on New York’s cannabis bill that was just signed into law (13:42). The co-hosts interview co-founder of Real Vision Raoul Pal (17:45), chatting about Fed Policy and his macro outlook (18:35), how the automakers and EVs may be the next age of tech (30:13) and Raoul’s take on ARK’s ETFs (36:17). They also discuss this week’s Archegos unwind and echoes of Long Term Capital Management (38:55), and, of course, crypto (49:04). We end by discussing Real Vision and where his company goes from here (1:03:25). Shoot us an email at contact@riskreversal.com with any feedback, suggestions, or questions for us to answer on the pod and follow us @OnTheTapePod. Follow the co-hosts: Follow Dan Nathan @RiskReversal on Twitter Follow @GuyAdami on Twitter Follow Danny Moses @DMoses34 on Twitter

Transcript

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0:00.0	Welcome back to On the Tape, everybody.
0:08.0	I'm Guy Adami, joined as always by my dear friends, Dan Nathan and Danny Moses.
0:12.7	Listen, today we're going to be talking about archaigos, the quarter end meltup,
0:16.4	the quarter that was and all the craziness that went on.
0:19.6	And later we were going off the tape in an
0:21.7	interview with Raul Paul. This is dropping on Thursday, folks. As Friday is a holiday,
0:27.5	please allow me to start. This quarter was fascinating on a number of different levels. This was
0:33.1	the quarter, by the way. We had Robin Hood. We had GameStop. It's almost as if it happened a year ago. Why?
0:39.6	Because over the last couple weeks, we've been learning all about Arkegos, which I'm sure Danny
0:43.5	Moses will tell me what it means because I'm not smart enough to know. And we learned about
0:47.9	somebody named Bill Wang. Now, why is he interesting? How in the world was he able to basically
0:53.2	create a problem, almost a $10 billion problem for some of these banks?
0:58.6	How in the world did that happen with a man who in 2012 pleaded guilty to insider trading and stock manipulation, paid fines anywhere from $45 to $60 million, yet in 2021, it's fine.
1:11.9	And oh, by the way, the market doesn't seem to care because we have a VIX below 20.
1:16.1	We have an S&P 500 on either side of 4,000.
1:20.3	We have the Russell small cap index getting off the mat.
1:24.1	And the NASDAQ seems to be getting its vibe as well.
1:26.6	This all, by the way,
1:28.0	under the auspices of a 10-year yield, Danny Moses, that's gone from 90 basis points when we
1:34.3	effectively started this year to 1.7% as we sit here today. I find it all fascinating. I can only
1:42.0	imagine what's going to take place next quarter.
1:44.6	Yeah, two of the worst performing assets in the quarter were U.S. Treasury bonds and gold,
	...

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