What Could Possibly Go Wrong?!

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

🗓️ 2 May 2022

⏱️ 80 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this week's episode, returning guest Hugh Hendry joins Dan for another round at the Stansberry Investor Hour table...

Hugh founded the now-defunct Eclectica Asset Management in 2005. He rose to fame as the "Scottish hedge-fund king" when his fund returned 30%-plus during the throes of the financial crisis. He's also well-known for his outspoken remarks and contrarian views. One time, he even duked it out with a Nobel Prize-winning economist on television, asking, "Um, hello? Can I tell you about the real world?"

These days, Hugh entertains a wide audience with his wit and energetic market commentary in his podcast, The Acid Capitalist.

Today's conversation begins with a bang, as Dan and Hugh tackle one of the biggest market headlines: the stock sell-off. Shares of "FAANG" giants like Netflix, Amazon, and Apple are tanking... And it's hard to see these behemoths – which were once among the best-performing tech companies in the world – as "risk free" businesses anymore. Instead, they could herald a recession. So, what does Hugh have to say on the matter?

It's going to be really long, but it's going to be entertaining. Wear comfortable clothing.

He and Dan chat about several other topics, including inflation's grim march, Bill Hwang's multibillion-dollar fraud indictment, the "malevolent shadow of the Federal Reserve" behind high prices in oil and mining industries, and bitcoin as a risk-on versus risk-off asset.

No one is safe from Hugh's wisecracks – not even the ultrawealthy. In addition to financial topics, he shares his thoughts on Elon Musk's latest follies, the real reason Bill Gates and Jeff Bezos vacationed in St. Barts, and what he thinks of Johnny Depp's biggest purchase

Transcript

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0:00.0	Hello and welcome to the Stansberry Investor Hour. I'm your host, Dan Ferris. I'm also the
0:11.6	editor of Extreme Value published by Stansberry Research. Today we will talk with former
0:18.2	hedge fund manager Hugh Hendry. Nobody sees the world like Hugh. Listen in. You'll
0:24.8	love it. In the mailbag today, inflation, gold, Russia, and life lessons. Remember, you can call
0:31.5	our listener feedback line 800-381-2357. Tell us what's on your mind and hear your voice on the show. For my opening rant this week,
0:41.3	okay, just a few last thoughts about Elon Musk and Twitter and Tesla and what it all means.
0:51.3	That and more right now on the Stansberry Investor Hour.
1:02.8	Why do I keep talking about this?
1:05.2	Well, it goes back to something that I told you many episodes ago.
1:10.0	I've said it once or twice. I feel like
1:12.3	at this point in my life and in my career, it's my duty. It's my mission to help investors prepare
1:22.5	for what I believe will be a rather dramatic and painful end to the longest bull market in history
1:30.0	and certainly the most expensive bull market in history.
1:35.1	We've never seen valuations like this, not in 2000, not in 2008, certainly, and not in
1:41.6	1929, just not ever.
1:44.4	So I feel like it's my job to kind of underscore how extreme things got at the top,
1:53.0	and we're still very close to the top, and to help investors get through it.
1:59.8	So I'm constantly pointing not necessarily to specific metrics,
2:05.4	although, yeah, you know, I cite as many numbers as any financial guy, I guess. But I want to tell
2:12.8	the stories and I want to tell listeners and readers of our newsletters what it feels like. I want to remind you
2:21.9	if you've been through this stuff before, what it felt like and that's what it feels like right
2:27.2	now. So what does it feel like to be at the end of a long bull market. What kinds of things happen?
	...

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