TIP486: Macro Investing w/ Cullen Roche

The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network

Stig Brodersen

Business, Education, Investing

4.6 • 3.6K Ratings

🗓️ 23 October 2022

⏱️ 85 minutes

🔗️ Recording | iTunes | RSS

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Summary

IN THIS EPISODE, YOU’LL LEARN: 01:22 - Why and how do we need to understand the macro environment when we invest 07:18 - Why we should think of the economy as we think of the human body 19:02 - Why the traditional buy-and-hold equity strategy is flawed 26:20 - Why a house we live in is typically not a good investment 35:16 - How has the stock market performed after inflation and taxes? 40:38 - Why investors are not globally diversified when they invest in the S&P500 48:27 - Why bonds bear markets are different from bear markets in stocks 55:58 - Why diversification is about hating some of your portfolio all of the time 1:03:49 - How money creation will change with a digital currency by central banks 1:11:53 - What is yield curve control, and how is it exercised? 1:16:08 - What is the third mandate of the FED? Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members. Stig's first part interview with Cullen Roche about Inflation. Cullen Roche's website, The Discipline Funds. Cullen Roche's website, Pragmatic Capitalism. Tweet directly to Cullen Roche. Email Cullen at cullenroche@orcamgroup.com. Cullen Roche's YouTube channel. Cullen Roche’s new research paper, All Duration Investing. Cullen Roche’s book, Pragmatic Capitalism – Read reviews here. SPONSORS Support our free podcast by supporting our sponsors: River Toyota Fundrise 7-Eleven The Bitcoin Way Onramp Public Vanta ReMarkable Connect Invest SimpleMining Miro Shopify Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

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0:00.0	You're listening to TIP.
0:30.0	This episode is particularly interesting.
0:32.0	Colin started his career really all above his letters and have taken that mindset into macro-domesting.
0:37.0	Alright, let's hop to it.
0:43.0	You are listening to THE Investors Podcast.
0:46.0	Where we study the financial markets and read the books that influence self-made billionaires the most.
0:51.0	We keep you informed and prepared for the unexpected.
1:03.0	Welcome to THE Investors Podcast. I'm your host, Dick Brodison.
1:07.0	Colin, it's always a privilege to welcome you back on our show.
1:11.0	Hey, Stagg, it's always great to be here.
1:13.0	So, Colin, the main topic of today is your book, Pragmatic Capsuleism.
1:18.0	And in your book, you have a series of principles intended to piece the puzzle together of the global financial system.
1:25.0	So, it's no small feat. We're going to talk about it here today.
1:28.0	It's all about how to help us as investors.
1:31.0	So, let's just jump right into it.
1:33.0	Our show is founded on the principles of Warren Buffett.
1:36.0	And it would also suggest that if you build anything around the principles of Buffett, you're in turn part of the building on the regional work of Benjamin Graham.
1:44.0	Benjamin Graham is the author of the Intellect Investor and Securities Analysis that he wrote together with David Dot.
1:49.0	And to the public, he's perhaps most famous for being Buffett's employer, friend, professor, mentor.
1:56.0	You have this wonderful quote from Graham in your book before his death in 1976.
2:01.0	And the quote goes like this.
2:03.0	In general, no. I am no longer an advocate of elaborate techniques of security analysis to find superior value opportunities.
	...

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