Podcast appearances and mentions of David Hay

Wall Street feels like the world just got turned on its head.The once-bulletproof market rally shifted into reverse, with stocks falling for weeks to oversold levels in the short-term.And just when traders thought a bounce was due, President Trump's Liberation Day tariffs announcements sent the markets plunging by percentages not seen since the worst of the COVID crisis.What is going on and what's most likely to happen from here?Is a recession inevitable at this point?To discuss, we're fortunate to be joined today by David Hay, the up-until-recently Chief Investment Officer & Principal at Evergreen Gavekal.He is just days into his retirement from that role, which means he's free to be a lot more detailed and specific with us in his answers now that he's not subject to compliance constraints.

One of the great David Bowie's most popular songs was titled "Changes" Today's guest David Hay, Chief Investment Officer & Principal at Evergreen Gavekal, might well steal that title for his expected theme of 2025 He sees headwinds that could cause the economy to grow slower than many currently expect. He sees the prices of stocks and bonds at risk. The Fed increasingly behind the curve, the dollar potentially reversing, and lots of uncertainty to soon ensue as the Trump Administration starts to deploy its disruptive policies. He'll walk us through charts of all that and more today. WORRIED ABOUT THE MARKET? SCHEDULE YOUR FREE PORTFOLIO REVIEW with Thoughtful Money's endorsed financial advisors at https://www.thoughtfulmoney.com

We explore the theme of Governance & Sustainability in this launch episode of the Horizon Scanning 2025 podcast. Partners, Phil Linnard and David Hay join Director of Knowledge & Learning, Claire Marshall-Barrand to discuss the effects of UK employment law reforms and the shift towards a circular economy on companies.

The Titan coach previews Saturday's home quarterfinal playoff game against East St. Louis. See omnystudio.com/listener for privacy information.

The guys review local news, Tom reminisces about a Steve McQueen movie, and Glenwood High School football coach David Hay looks at Saturday's quarterfinal playoff game against East St. Louis. See omnystudio.com/listener for privacy information.

Glenwood Head Football Coach David Hay joins Patrick Pfingsten to preview Saturday's IHSA Class 6A State Quarterfinal game against East St. Louis.See omnystudio.com/listener for privacy information.

In our High School Football Hour previewing Round 2 of the High School Football Playoffs, Glenwood Coach David Hay, SH-G Coach David Allison, and Williamsville Coach Aaron Kunz discuss their round one games and preview their games for Saturday. We're also joined by SJ-R sports reporter Bill Welt.See omnystudio.com/listener for privacy information.

In our High School Football Hour previewing Round 1 of the state football playoffs, we're joined by Glenwood Coach David Hay, SHG Coach John Allison, Rochester Coach Derek Leonard, Williamsville Coach Aaron Kunz, and New Berlin Coach James Dambacher.See omnystudio.com/listener for privacy information.

It's certainly an interesting time in the markets. The world's major central banks have returned to cutting interest rates. Yet bond yields are rising on the long end. Meanwhile, risk on assets are in rally mode. Stocks are back at all-time highs. Yet so is gold, the grand-daddy of risk off assets. To make sense of all of this, we're fortunate to speak today with capital managers David Hay and Jeff Dick of Evergreen Gavekal. David is its Chief Investment Officer & Principal and Jeff is a Managing Director and Partner there. WORRIED ABOUT THE MARKET? SCHEDULE YOUR FREE PORTFOLIO REVIEW with Thoughtful Money's endorsed financial advisors at https://www.thoughtfulmoney.com #bearmarket #volatility #marketcorrection --- Support this podcast: https://podcasters.spotify.com/pod/show/thoughtful-money/support

In this week's High School Football Hour, we speak with Glenwood Coach David Hay, Springfield HS Coach Jon Hebb, Sacred Heart-Griffin Coach John Allison, and Williamsville Coach Aaron Kunz. We also discuss allegations of hazing in the Rochester football program.See omnystudio.com/listener for privacy information.

In this week's High School Football Hour, we're joined by Glenwood Head Coach David Hay, Springfield HS Head Coach Jon Hebb, Sacred Heart-Griffin Head Coach David Allison, Rochester's Coach Derek Leonard, and Ryan Mahan from the State Journal-Register. See omnystudio.com/listener for privacy information.

In this week's High School Football Hour, we're joined by Glenwood Head Coach David Hay, Springfield HS Head Coach Jon Hebb, Sacred Heart-Griffin Head Coach John Allison, New Berlin Head Coach James Dambacher, Williamsville Head Coach Aaron Kunz, and Bill Welt from the State Journal-Register. See omnystudio.com/listener for privacy information.

Our High School Football Hour features Glenwood Coach David Hay, Springfield HS Coach Jon Hebb, Athens Coach Ryan Knox, and State Journal-Register sports reporter Ryan Mahan.See omnystudio.com/listener for privacy information.

Glenwood Coach David Hay, Springfield HS Coach Jon Hebb, Williamsville Head Coach Aaron Kunz, New Berlin Head Coach James Dambacher and State Journal-Register sports reporter Ryan Mahan join Springfield's Morning News to preview week three of the high school football season.See omnystudio.com/listener for privacy information.

Can companies truly thrive during economic downturns, and what does that mean for investors? Join us in this engaging episode featuring David Hay as we dissect the intricacies of the current economic landscape. We'll explore how companies that manage to uphold decent earnings during tough times might be worthy of a premium valuation. Hear David's fascinating journey from filmmaking to finance and gain insights into the bond market's complexities, where we distinguish between credit risk and duration. We'll also interpret the mixed signals from commodities and market caps and scrutinize labor market data, focusing on critical job revisions that may indicate a challenging road ahead for the economy.Discover the implications of the "fourth turning," a period of significant societal upheaval marked by massive government debt and limited liquidity options. We delve into how this era could shape investment strategies, emphasizing the shift from financial assets to scarce, real assets that offer potential high returns in nominal terms. Learn why strategically positioning in scarce resources may be more advantageous than relying on easily created financial instruments like treasuries. This conversation provides essential insights for investors looking to navigate the turbulent economic environment and capitalize on emerging opportunities.Finally, we explore evolving investment strategies and market trends, questioning the traditional 60-40 stock-bond portfolio mix. Understand the potential value in the mid-range of the yield curve and emerging market debt, and the dynamic performance of digital assets like Bitcoin. We also analyze the global energy market, the potential of small modular reactors, and the intriguing status of regional banks. With a focus on emerging markets, rolling recessions, and actionable investment strategies, this episode is a must-listen for anyone looking to stay ahead in these uncertain economic times.The content in this program is for informational purposes only. You should not construe any information or other material as investment, financial, tax, or other advice. The views expressed by the participants are solely their own. A participant may have taken or recommended any investment position discussed, but may close such position or alter its recommendation at any time without notice. Nothing contained in this program constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments in any jurisdiction. Please consult your own investment or financial advisor for advice related to all investment decisions. Sign up to The Lead-Lag Report on Substack and get 30% off the annual subscription today by visiting http://theleadlag.report/leadlaglive. Foodies unite…with HowUdish!It's social media with a secret sauce: FOOD! The world's first network for food enthusiasts. HowUdish connects foodies across the world!Share kitchen tips and recipe hacks. Discover hidden gem food joints and street food. Find foodies like you, connect, chat and organize meet-ups!HowUdish makes it simple to connect through food anywhere in the world.So, how do YOU dish? Download HowUdish on the Apple App Store today:

In Week Two of our High School Football Hour on Springfield's Morning News, we're joined by Glenwood Head Coach David Hay, Springfield High Coach Jon Hebb, Rochester Coach Derek Leonard, SH-G Coach John Allison, and PORTA coach Lonnie McAnally.See omnystudio.com/listener for privacy information.

The Haymaker, David Hay, returns for an excellent discussion. We cover a lot of ground in this interview. We discuss a looming economic crisis, the state of the US economy, the battle of the SP500 vs Gold and Gold rallying to $5,000 or even $10,000. #goldprice #gold #stocks ------------ Thank you to our #sponsor MONEY METALS. Make sure to pay them a visit: https://bit.ly/BUYGoldSilver ------------ Guest: David Hay, Co-CIO & Author Company: Evergreen Gavekal, Haymaker Recording date: June 25th, 2024 Substack: https://haymaker.substack.com/ ---------------------

We welcome author, investor, activist, thinker, and co-CIO of advisory firm Evergreen Gavekal, David "The Haymaker" Hay onto the Rosenberg Round-Up.  Our interview with Dave marks the inaugural episode of a series of standalone interviews that will run alongside the weekly Roundup on a (roughly) 1-month cadence. In the series, we'll take you deeper on a range of topics with recognized experts.  In this episode, Dave frames today's main market themes (from AI to Gold to fiscal policy to the Fed) from the perspective of broad cycles of economic and social history, and explains how the median investor is positioned "exactly improperly" for the risk environment that has built over the past decade. For more on David Hay visit his Substack, "Haymaker": https://haymaker.substack.com/ For a 30-day free trial of our research, click here: https://web.rosenbergresearch.com/RosenbergRoundupTrial

There are many professional economists who can tell you what is on the horizon for 2024. In this episode of Think Ahead, Kaeli Kaainoa gets Co-CIOs, Jeff Dicks and David Hay, take on what investors should keep an eye on in 2024. Some topics discussed include the upcoming US presidential election and anticipated falling interest rates, rising federal debt, and removing emotions from portfolio decisions, all in our new and more concise interview format. 

Back in 1996, Federal Reserve Chair Alan Greenspan famously said: "How do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions?" It was a prophetic question, as the stock market soon after became caught up in the mania of the DotCom bubble, reaching unprecedented levels of overvaluation followed by a precipitous price correction. The Nasdaq didn't return to its 2000 highs until 15 years later. Many are feeling like it's deja vu all over again with the latest run-up in the small number of stocks, colloquially known as the Magnificent 7, driving the market indices to new record highs. Are we in a new era of irrational exuberance, this time driven by the promise of artificial intelligence? And if so, what's the danger this time of another prolonged contraction ensuing? Contact David at https://evergreengavekal.com/meet-david-hay/ Or subscribe to his Substack at https://haymaker.substack.com/ WORRIED ABOUT THE MARKET? SCHEDULE YOUR FREE PORTFOLIO REVIEW with Thoughtful Money's endorsed financial advisors at https://www.thoughtfulmoney.com #stockmarket #marketcrash #marketcorrection

David Hay, co-chief investment officer at Evergreen Gavekal  -- author of the Haymaker newsletter focused on macroeconomic research -- says that 'Pseudo prosperity is still prosperity,' and investors should like whatever they are getting from the economy now because he does not think it will last. Hay says the market "is almost all-in on Goldilocks," which will "make it hard to make money betting on the soft landing." Christopher Zook, president of CAZ Investments -- co-author of Tony Robbins' new book, "The Holy Grail of Investing" -- talks about the themes and the alternative investments that will drive the next decade or more while delivering oversized gains. Plus, in "The Financial Crunch," Cam Miller, chief revenue officer at Money Pickle, talks about how much money someone needs to have before turning to a financial adviser for help. 

Feb 8, 2024 – David Hay is the Co-Chief Investment Officer & Partner at Evergreen Gavekal, author of the Haymaker newsletter on Substack, as well as the author of a must-read book Bubble 3.0. Today, we decided to get an update on his bubble thesis...

Interview recorded -  19th of December, 2023This week I had the pleasure of welcoming back David Hay - Co-Chief Investment Officer of Evergreen Gavekal.During our conversation we talked about the David's current thoughts on markets, whether we are in a new bull market or bear rally, assets David is currently watching and more. I hope you enjoy!0:00 - Introduction0:45 - Current thoughts on markets3:05 - Preventing Trump returning to power?6:20 - FED providing maximum optionality?9:20 - Consensus skewed to bullish side11:10 - Do we understand the impact QT has on markets?14:05 - Long End of Bond Market to help FED?15:15 - New bull market or bear rally? 19:20 - Opportunities in small caps?24:47 - Case for Strong US Economy?27:00 - What attracted David to Emerging Markets Debt?29:20 - What else is David watching?33:05 -  Industries that are out of love36:37 - One message to takeaway from our conversation?David Hay acquired the majority interest in Evergreen Gavekal (at the time, Evergreen Capital Management) in 2002. He continues to serve his long-time clients and acts as Co-Chief Investment Officer with special emphasis in macro-economic research.  David has been employed in the securities industry since 1979 when he joined Dean Witter Reynolds, now Morgan Stanley. He rose to the position of Senior Vice President in 1983. In 1985 he was the youngest member to be elected to Dean Witter's elite Chairman's Council. David and his team joined Smith Barney in 1990 and were instrumental in establishing the Portfolio Advisory Program. Fulfilling the positions of Senior Vice President, Senior Portfolio Manager and Director, David also served on the Smith Barney Directors Advisory Group, gaining valuable experience in merger integration and client service enhancement.  In 2022, David released his highly anticipated book, Bubble 3.0:  Who blew it and how to protect yourself when it blows apart. The book explores why he believes the financial markets are headed toward a third iteration of past market rotations. Accordingly, he believes there are a number of investment areas/asset classes poised to benefit from what he has begun referring to as “The New World Disorder”.  David currently spends the winter months in Indian Wells, Ca., with his wife, Mindy, and two dogs, Nova and Roscoe.  In early June, they will be moving into their new home in Liberty Lake, Wash.David Hay Interviews - Haymaker as Host interview: https://www.youtube.com/watch?v=EnDy6SGoG00MicroNuclear explanatory video: https://www.youtube.com/watch?v=Fb2Op0mWlUwDavid Hay - Twitter - https://twitter.com/Haymaker_0Website - https://evergreengavekal.com/Substack - https://haymaker.substack.com/WTFinance -Instagram - https://www.instagram.com/wtfinancee/Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfniTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4Twitter - https://twitter.com/AnthonyFatseas

Tom welcomes back David Hay author, Co-Founder and Co-CIO of Evergreen Gavekal. David discusses various economic indicators that may signal the beginning of a recession. Tightening of credit conditions, with credit spreads expanding rapidly, and how the recent events in the Middle East have affected the safety trade for US Treasury bonds. David expressed concern about the current federal fiscal funding situation and its potential consequences. He also mentioned the conflicting views in the market between short-term investors and long-term investors, which is creating tension in the bond market. They discussed the Federal Reserve's policies and how they have continued to increase interest rates despite the slowing economy, which is starting to impact the real economy with higher borrowing costs and tighter credit conditions. David also shared his observations about the job market and the economy, noting the strength of nominal GDP but attributing it to the large deficit spending. They also talked about the current trends in the nuclear energy industry and how China and Russia are leading the way with new technologies, while the US is lagging behind. Environmental policies and the importance of separating fact from fiction in the green energy transition. Additionally, they touched on the current state of the oil industry and how it has managed to maintain record levels of production despite lower drilling activity. Lastly, David highlighted the importance of having dry powder, or cash, to take advantage of opportunities during market crashes. Time Stamp References:0:00 - Introduction0:45 - Credit Contraction3:36 - Bonds As Safe Havens?5:41 - Treasury Demand10:28 - Investor Sentiment12:34 - Policy Lag & Labor15:30 - GDP Strength/Deficits18:25 - Fed & More Q.E.21:20 - Dollar Strength & Gold27:16 - Tech Bubbles & A.I.30:00 - Energy & Nuclear Outlook36:56 - SMR & Public Opinion40:20 - Renewables & Realism45:29 - Oil Industry & Drilling50:40 - Natural Gas52:49 - Bonds Now & 198755:06 - Wrap Up Talking Points From This Week's Episode Evidence of a slowing economy with nominal GDP growth slipping, inflation cooling, and earnings, GDI and tax revenue falling. Increased borrowing costs and tighter credit conditions having an affect on housing and retail markets. Unexpectedly high oil production in the U.S. despite decreased drilling activity, which could lead to higher prices in a recession. Guest Links:Website: https://http://evergreengavekal.com/Substack: https://haymaker.substack.comTwitter: https://twitter.com/Haymaker_0 David Hay is a longtime investment advisor and financial author from Bellevue, Washington. He and his wife, Mindy, now split their time between the Northwest, Southern California, and a few places in between (their two dogs love long road trips). They have six grandchildren, three of who live on the West Coast and three on the East Coast. Dave is desperately hoping for a better world for his grandchildren to grow up in than the one we have right now. In that regard, Dave is an ardent supporter of No Labels, a bipartisan political movement that currently includes roughly 70 members of Congress. He is the recently appointed Co-Chairman of No Labels' Washington State organization. You can find his financial writings on his substack linked above on a weekly basis.

David Hay, co-CIO at Evergreen Gavekal and author of the Haymaker newsletter on Substack, joins Julia La Roche on episode 111. In this episode, Hay makes a case that the odds of a recession are going up, not down, with each passing day.  The conversation dives into the bond market, exploring the shift to a secular bear market and the implications this holds for the broader financial ecosystem. Elsewhere, Hay shares where he's allocated and why he's mildly bullish on energy. He also points out we have a supply problem, and we're likely to experience an acute and lasting oil shortage. Links:  Substack: https://haymaker.substack.com/ Bubble 3.0 Audiobook: https://awesound.com/a/bubble-30-historys-biggest-financial-bubble Evergreen Gavekal: https://evergreengavekal.com/about-us/ David Hay: https://evergreengavekal.com/team/david-hay/ The Julia La Roche Show is produced by Marlinski Media: https://www.marlinskimedia.com/ Timestamps:  0:00 Welcome David Hay to the show  1:20 Macro view  2:50 Odds of a recession are going up with each passing day  4:17 Misleading data  6:30 Higher for longer's impact on bankruptcies  7:40 GDI recession  10:45 Federal Fiscal Funding Fiasco  12:29 Structural bond bear market  15:27 Supply and demand in bond market  17:44 Hedge funds buying USTs with leverage / the basis trade  19:40 T-bills  21:26 A ‘transitory' bond rally  25:30 The country is circling the drain  28:00 Bondholders are going to be the sacrificial lambs  29:20 Where do you want to be allocated  31:40 We're going to have an oil supply problem  33:00 Parting thoughts

Joining me on the latest episode of The Grant Williams Podcast is my great friend, David Hay, Co-CIO of Evergreen GaveKal and the author of the excellent Substack Haymaker. Dave and I have known each other for the best part of fifteen years and have spent countless hours debating markets, testing hypotheses and helping each other understand and chart a course through increasingly difficult markets. This time around, the matters at hand included the wisdom of Seth Klarman, the Not-So-Fabulous Four, the debate about a soft- or no-landing scenario, the US consumer, oil markets and so much more. As always, Dave's perspective on the entire market spectrum was incredibly useful as we discussed commodities, homebuilder stocks, the places Dave is investing and even found time for a little Fourth Turning. Definitely a conversation not to be missed. Every episode of the Grant Williams podcast, including This Week In Doom, The End Game, The Super Terrific Happy Hour, The Narrative Game, Kaos Theory and Shifts Happen, is available to Copper, Silver and Gold Tier subscribers at my website www.Grant-Williams.com.  Copper Tier subscribers get access to all podcasts, while members of the Silver Tier get both the podcasts and my monthly newsletter, Things That Make You Go Hmmm… Gold Tier subscribers have access to my new series of in-depth video conversations, About Time.

Founder of Haymaker David Hay calls Energy the most cherished of his favorite sectors, and he lays out the reasons why he expects oil and gas stocks to outperform up ahead. David also gives his outlook on uranium, gold, copper, and more. Haymaker: https://haymaker.substack.comEvergreen Gavekal: https://evergreengavekal.comFollow me on Twitter: https://twitter.com/jessebdayYoutube Channel: https://youtube.com/c/CommodityCulture

David Hay, co-chief investment officer at Evergreen Gavekal -- the author of the Haymaker newsletter -- says the economy has been throwing 'a huge head fake right now' that has convinced a lot of pundits that the Federal Reserve can pull off a soft- or no-landing scenario. That's not what he's expecting, however, noting that there are plenty of indicators to suggest that troubles are mounting. Also on the show, Tom Lydon of VettaFi turns to an income fund for his ETF of the Week, Catherine Collinson of the Transamerica Center for Retirement Studies discusses the changing outlook that different generations have for their retirements, and William Smead of the Smead Value fund taks stocks -- and holding unpopular positions for a long time -- in the Market Call.

Author and asset manager David Hay joins me for a chat about the current state of the economy and what he sees as the pitfalls to FOMC Chair Jerome Powell's extreme monetary policy since being re-confirmed. David is the publisher of the Haymaker, author of the book "Bubble 3.0" and Co-CIO of Evergreen Gavekel.Show Notes:The Haymaker Substack

GDP growth for the past two quarters has been positive -- but gross domestic income has been negative over the same period. The multitude of macro data is screaming recession, yet earnings estimates are on the rise, unemployment remains low and the stock market is booming. What can we expect from the second half of the year? For perspective, we turn to David Hay, co-founder & co-Chief Investment Officer of Evergreen Gavekal, a financial advisory firm managing $3.5 billion of investor capital. I love talking with experts like David because as a steward of so much in AUMl, he can't simply rely on an "opinion"; has to steer this capital safely through what's coming next. So his conviction needs to be as high as possible. ************************************************* At Wealthion, we show you how to protect and build your wealth by learning from the world's top experts on finance and money. Each week we add new videos that provide you with access to the foremost specialists in investing, economics, the stock market, real estate and personal finance. We offer exceptional interviews and explainer videos that dive deep into the trends driving today's markets, the economy, and your own net worth. We give you strategies for financial security, practical answers to questions like “how to grow my investments?”, and effective solutions for wealth building tailored to 'regular' investors just like you. There's no doubt that it's a very challenging time right now for the average investor. Above and beyond the recent economic impacts of COVID, the new era of record low interest rates, runaway US debt and US deficits, and trillions of dollars in monetary and fiscal stimulus stimulus has changed the rules of investing by dangerously distorting the Dow index, the S&P 500, and nearly all other asset prices. Can prices keep rising, or is there a painful reckoning ahead? Let us help you prepare your portfolio just in case the future brings one or more of the following: inflation, deflation, a bull market, a bear market, a market correction, a stock market crash, a real estate bubble, a real estate crash, an economic boom, a recession, a depression, or another global financial crisis. Put the wisdom from the money & markets experts we feature on Wealthion into action by scheduling a free consultation with Wealthion's endorsed financial advisors, who will work with you to determine the right next steps for you to take in building your wealth. SCHEDULE YOUR FREE WEALTH CONSULTATION with Wealthion's endorsed financial advisors here: ⁠⁠⁠⁠⁠https://www.wealthion.com/⁠⁠⁠⁠⁠ Subscribe to our YouTube channel: ⁠⁠⁠⁠⁠https://www.youtube.com/channel/UCKMeK-HGHfUFFArZ91rzv5A?sub_confirmation=1⁠⁠⁠⁠⁠ Follow Adam on Twitter: ⁠⁠⁠⁠⁠https://twitter.com/menlobear⁠⁠⁠⁠⁠ Follow us on Facebook: ⁠⁠⁠⁠⁠https://www.facebook.com/Wealthion-109680281218040⁠⁠⁠⁠⁠ #recession2023 #recessionstockmarket #stockmarketcrash2023 ************************************************* IMPORTANT NOTE: The information and opinions offered in this video by Wealthion or its interview guests are for educational purposes ONLY and should NOT be construed as personal financial advice. We strongly recommend that any potential decisions and actions you may take in your investment portfolio be conducted under the guidance and supervision of a quality professional financial advisor in good standing with the securities industry. When it comes to investing, past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections may not reflect actual future performance. All investments involve risk and may result in partial or total loss.

Interview recorded - 8th of June, 2023On todays episode of the WTFinance podcast I had the pleasure of speaking with David Hay, Co-Chief Investment Officer of Evergreen Gavekal.During our conversation we spoke about key drivers of the current market, whether we are still in the biggest bubble of history, how the current debt cycle risks collapse and why nuclear energy is the future of non-carbon energy. I hope you enjoy!0:00 - Introduction0:50 - Key drivers of current markets?4:30 - Can the FED save the US economy?7:15 - Will we see stagflation or disinflation?10:30 - Are we still in a bubble?13:28 - Industries/geographies that David is watching?17:00 - How would Treasury funding issues effect market?20:00 - Will they run inflation hot?24:00 - The end of a debt cycle?26:10 - Pensions and other levered bond holders to be punished?31:30 - Stock picking during market uncertainty?34:30 - Future energy crisis and why nuclear is vital38:15 - Why is nuclear better than other non-carbon energy producers?42:10 - One message to takeaway from our conversation?David Hay acquired the majority interest in Evergreen Gavekal (at the time, Evergreen Capital Management) in 2002. He continues to serve his long-time clients and acts as Co-Chief Investment Officer with special emphasis in macro-economic research.  David has been employed in the securities industry since 1979 when he joined Dean Witter Reynolds, now Morgan Stanley. He rose to the position of Senior Vice President in 1983. In 1985 he was the youngest member to be elected to Dean Witter's elite Chairman's Council. David and his team joined Smith Barney in 1990 and were instrumental in establishing the Portfolio Advisory Program. Fulfilling the positions of Senior Vice President, Senior Portfolio Manager and Director, David also served on the Smith Barney Directors Advisory Group, gaining valuable experience in merger integration and client service enhancement.  In 2022, David released his highly anticipated book, Bubble 3.0:  Who blew it and how to protect yourself when it blows apart. The book explores why he believes the financial markets are headed toward a third iteration of past market rotations. Accordingly, he believes there are a number of investment areas/asset classes poised to benefit from what he has begun referring to as “The New World Disorder”.  David currently spends the winter months in Indian Wells, Ca., with his wife, Mindy, and two dogs, Nova and Roscoe.  In early June, they will be moving into their new home in Liberty Lake, Wash.David Hay Interviews - Haymaker as Host interview: https://www.youtube.com/watch?v=EnDy6SGoG00MicroNuclear explanatory video: https://www.youtube.com/watch?v=Fb2Op0mWlUwDavid Hays - Twitter - https://twitter.com/Haymaker_0Website - https://evergreengavekal.com/Substack - https://haymaker.substack.com/WTFinance -Instagram - https://www.instagram.com/wtfinancee/Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfniTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4Twitter - https://twitter.com/AnthonyFatseas

Today, Jason discusses his recent trip to Budapest, Hungary and yacht week in Greece. He believes the Fed must pivot and lower interest rates and increased housing affordability will lead to a rebound in the housing market. The majority of investors are buying properties and taking more control over their finances by using the hybrid self-management approach he recommends to his exclusive group  Empowered Investor Pro. And in this episode Jason welcomes David Hay, financial advisor and chief investment officer of https://evergreengavekal.com/ giving a macro outlook on today's economy. David shares deep insights into the economy, markets, and income investing. With a focus on generating cash flow from investments, their expertise lies in income generation. Hay believes we're on the verge of a major credit spread expansion, which is crucial for financial markets and the economy. Credit spreads, the difference between government and corporate bond yields, widened significantly last year, negatively impacting balanced portfolios. While credit spreads narrowed and led to a rally, Hay predicts another widening due to rising bankruptcy and tightening lending standards. Understanding credit spreads can provide buying opportunities and higher yields in the future, despite market timing challenges. Key Takeaways: Jason's editorial 1:29 Traveling to Budapest 2:34 We're having a macro outlook at our economy and when the FED pivots 4:25 Empowered Investor Pro and the hybrid approach to property management David Hay interview 5:47 Introducing David Hay of https://evergreengavekal.com/ 6:43 Major credit spread expansion and defaulting Junk bonds 13:09 Bubble 3.0 - the commercial space meltdown 15:24 Dicing up the corporate bankruptcies 17:51 What is the FED going to do 19:00 Emerging markets, interest rates and the QE markets 22:49 "Greenflation" is incredibly inflationary 24:15 De-globalization and inflationary pressures and the current housing shortage issues 27:05 Pivoting the FED, the debt ceiling distraction and the 4 Fs scenario 29:12 The oncoming train wreck this second half of 2023, the tsunami after the tsunami 33:24 Kicking the 'can' down the road- indefinitely   Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ Free Class:  Easily get up to $250,000 in funding for real estate, business or anything else: http://JasonHartman.com/Fund CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Get wholesale real estate deals for investment or build a great business – Free Course: https://www.jasonhartman.com/deals Special Offer from Ron LeGrand: https://JasonHartman.com/Ron Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com

Is it time to start putting your $$ under your mattress instead of a bank?  Jimmy Sengenberger fills in for George.  He welcomes David Hay, Co-CEO and partner at Evergreen Gavekal.  Is our banking system strong or in danger?  Is the Debt Ceiling serious or a bluff?  Jimy and David discuss these subjects and more.  Then Jimmy talks about the new information from the GOP Oversight investigation into the Biden family.  Have they identified ay crimes? See omnystudio.com/listener for privacy information.

BIO: David Hay has been employed in the securities industry since 1979 when he joined Dean Witter Reynolds, now Morgan Stanley.STORY: A colleague told David about a business that was going to sell books online. David wasn't convinced that the business had a competitive edge. So while his colleague invested $50,000 into this company, David chose not to invest. The company was Amazon. Had David invested then, he'd now be a multimillionaire.LEARNING: Invest only what you can afford to lose. Keep challenging your thesis. Have a systematic quantitative framework to help you keep an open and agile mind when investing. “One of the most important things in investing is range expansion.”David Hay Guest profileDavid Hay has been employed in the securities industry since 1979 when he joined Dean Witter Reynolds, now Morgan Stanley.And since 2022, David has been chief or Co-Chief Investment Officer of Evergreen Gavekal with a special emphasis on macro-economic research.In 2022, David released his highly anticipated book, Bubble 3.0: Who blew it and how to protect yourself when it blows apart.The book explores why he believes the financial markets are headed toward a third iteration of past market rotations.Accordingly, he believes there are a number of investment areas/asset classes poised to benefit from what he has begun referring to as “The New World Disorder.”Worst investment everIn November of 1994, David received a call from a colleague. They were both portfolio managers at Smith Barney. At that point, they were investing side by side in virtually everything. The colleague told David about this guy who was starting a company, and he was going to invest $50,000 in it.The colleague explained that the business would sell books online. David didn't understand the business's competitive edge, so he opted not to invest in it.Six months later, the colleague told him the company was going public. Turns out, the company was Amazon. Had David invested in it when his colleague told him to, he'd now be a multimillionaire.Lessons learnedIf the idea sounds great, invest only the money you can afford to lose.The bigger and longer the trading range, the more important the message of the breakout or breakdown is.Constantly challenge your thesis.Andrew's takeawaysHave a systematic quantitative framework to help you keep an open and agile mind when investing.For every company that becomes a billion-dollar or trillion-dollar company, the good news is that 99.99999999999% of people missed it.David's recommendationsDavid recommends his free newsletter. You can also get a free copy of Bubble 3.0 by emailing him through Substack. David also recommends reading the Felder report by Jesse Felder.No.1 goal for the next 12 monthsDavid's number one goal for the next 12 months is to remove his shorts and go max bullish.Parting words “It's always so much cheaper to learn from other people's mistakes than your...

In this exclusive interview, "The Future of QE and High Yield Investments with David Hay," financial expert David Hay shares his insights into the world of high yield investments and the future of quantitative easing. As a renowned financial strategist, Hay's perspective is invaluable for investors looking to navigate these ever-changing markets. Join us in this in-depth David Hay interview with Michael Gayed, as they discuss the crucial aspects of the financial landscape.Throughout the interview, David Hay and Michael Gayed delve into topics such as the current state of quantitative easing, its potential impact on high yield investments, and the strategies that investors can employ to safeguard their portfolios in the current economic climate. By listening to this podcast, you will gain a deeper understanding of the factors driving the global economy and the potential opportunities available for forward-thinking investors.Some of the key points covered in this David Hay interview with Michael Gayed include:1. An overview of quantitative easing and its role in the global economy.2. The potential risks and rewards associated with high yield investments.3. Strategies for investors to identify and capitalize on high yield opportunities.4. David Hay's expert analysis on the future of quantitative easing and how it could affect investors' portfolios.Don't miss out on this exclusive discussion between David Hay and Michael Gayed, two financial industry giants who offer invaluable insights and advice for anyone interested in high yield investments and the future of quantitative easing. Their expertise and knowledge in the financial world make this an interview that you simply cannot afford to miss.To stay updated on more insightful discussions and expert opinions on the world of finance and investing, make sure to subscribe to our channel and hit the notification bell. Also, feel free to like, comment, and share this podcast with fellow investors who might find this information helpful.ANTICIPATE STOCK MARKET CRASHES, CORRECTIONS, AND BEAR MARKETS WITH AWARD WINNING RESEARCH. Sign up for The Lead-Lag Report at www.leadlagreport.com and use promo code PODCAST30 for 2 weeks free and 30% off.Don't forget to like, share, and subscribe!Twitter: https://twitter.com/leadlagreport​​​​​Facebook: https://www.facebook.com/leadlagreport​​Instagram: https://instagram.com/leadlagreport​​​Check out Lead-Lag Live on all your favorite podcast platforms.Nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. The content in this program is for informational purposes only. You should not construe any information or other material as investment, financial, tax, or other advice. The views expressed by the participants are solely their own. A participant may have taken or recommended any investment position discussed, but may close such position or alter its recommendation at any time without notice. Nothing contained in this program constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments in any jurisdiction. Please consult your own investment or financial advisor for advice related to all investment decisions.See disclosures for The Lead-Lag Report here: https://www.leadlagreport.Foodies unite…with HowUdish!It's social media with a secret sauce: FOOD! The world's first network for food enthusiasts. HowUdish connects foodies across the world!Share kitchen tips and recipe hacks. Discover hidden gem food joints and street food. Find foodies like you, connect, chat and organize meet-ups!HowUdish makes it simple to connect through food anywhere in the world.So, how do YOU dish? Download HowUdish on the Apple App Store today:

We're seeing some more softening in terms of labor demand, even though some can make the case that is not quick enough for inflation to go to the top, notes Tuan Nguyen. He and David Hay discuss JOLTs and the labor market. They also preview what the Federal Reserve announcement will mean for markets. They talk about how if you look at the top line data, there is a slowdown in terms of job openings. They go over how large companies with more than 5000 employees are laying off workers while mid-size and small companies are having trouble filling vacancies. Tune in to find out more about the stock market today.

Rebecca Hotsko talks to Milton Berg about his shift from fundamental to technical analysis, his critiques of value investing, his use of market indicators to identify turning points, and much, much more! Milton Berg, CFA, is the CEO and Chief Investment Strategist of MB Advisors, LLC. He has worked in the financial services industry since 1978 and began his career as a Commodities Analyst and Trader at Swiss-based Erlanger and Company. He has worked with well-known titans of the hedge fund world including Michael Steinhardt, George Soros, and Stanley Druckenmiller. IN THIS EPISODE, YOU'LL LEARN:00:00 - Intro.02:30 - Why Milton transitioned from being a fundamental investor, studying Benjamin Graham and David Dodd, to a technical analyst. 10:49 - What drives market prices in the short term and long term, and are they random?16:25 - Milton's criticisms about value investing and learning from studying Benjamin Graham. 34:54 - How his investment strategy works, which is centered around identifying significant turning points in the market. 35:06 - What indicators he uses to assess whether the market is at a turning point. 45:25 - Whether Milton believes we are near a turning point today and the market has already seen its bottom. Is it possible to time the market? 01:00:33 - Advice on the most important factors that long term investors should focus on. *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.BOOKS AND RESOURCESCheck out: MiltonBerg.com.Related Episode: Listen to MI255: Navigating Bubble 3.0: Is This Time Different? w/ David Hay. or watch the video.NEW TO THE SHOW?Check out our Millennial Investing Starter Packs.Browse through all our episodes (complete with transcripts) here.Try Robert and Rebecca's favorite tool for picking stock winners and managing our portfolios: TIP Finance.Enjoy exclusive perks from our favorite Apps and Services.Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.Learn how to better start, manage, and grow your business with the best business podcasts.P.S The Investor's Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!SPONSORSGet a FREE audiobook from Audible.Instead of trying to time the market or pick single stocks, automate your investments and invest in a variety of companies with Betterment.What does happen when money and big feelings mix? Tune in to find out on the new podcast, Open Money, presented by Servus Credit Union.Partner with a specialized agency focused on making insurance as easy as possible for real estate investors. Take advantage of monthly reporting, monthly billing, and coverage for all phases of occupancy with National Real Estate Insurance Group.Enjoy soft, stretchy bottoms that last forever with birddogs. Use promo code INVESTING and get a free Yeti-style tumbler with every order.Apply for the Employee Retention Credit easily, no matter how busy you are, with Innovation Refunds.Support our free podcast by supporting our sponsors.Connect with Rebecca: Twitter | InstagramEmail: Rebecca@theinvestorspodcast.comConnect with Milton: TwitterSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chief Investment Officer at Evergreen Gavekal and author of the Haymaker Substack David Hay explains the risk he sees for the U.S. dollar, as nations begin to execute trades in alternative currencies. David also discusses why the velocity of money is one of the most important trends investors should be paying attention to, along with giving us a glimpse into his portfolio. Sign up for my free weekly newsletter at https://www.JayMartin.club

Rebecca Hotsko and Sam Burns discuss, Sam's 2023 market outlook, the strong market performance despite negative earnings revisions, and more!Sam Burns, CFA is the chief strategist at Mill Street Research – an independent research company specializing in proprietary institutional research tools for asset allocation, stock selection, and macro-economic indicators. Burns has more than 20 years of experience as a market strategist providing US and global investment insights at Wall Street firms including Oppenheimer & Co., Brown Brothers Harriman, State Street Global Markets, and Ned Davis Research.IN THIS EPISODE, YOU'LL LEARN:0:00 - Intro02:45 - The current state of the market and Sam's outlook for 2023. 09:46 - Why the market has held up so far despite the negative revisions to analyst's earnings estimates. 24:34 - Sam's specialty at Mill Street research which is tracking analyst earnings revisions. 30:32 - How analyst earning revisions can be used to inform an investment strategy. 35:49 - Investment strategies related to analyst earnings revisions, including the sectors that are seeing better-than-expected revisions. 47:31 - Which sectors have seen the most downward revisions in earnings estimates? 50:06 - Which sectors Sam is most bullish on long term.53:03 - The indicators Sam is watching that indicator the market may be on an uptrend. *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.BOOKS AND RESOURCESCheck out: Mill Street Research. Related Episode: Listen to MI255: Navigating Bubble 3.0: Is This Time Different? w/ David Hay, or watch the video.NEW TO THE SHOW?Check out our Millennial Investing Starter Packs.Browse through all our episodes (complete with transcripts) here.Try Robert and Rebecca's favorite tool for picking stock winners and managing our portfolios: TIP Finance.Enjoy exclusive perks from our favorite Apps and Services.Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.Learn how to better start, manage, and grow your business with the best business podcasts.P.S The Investor's Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!SPONSORSGet a FREE audiobook from Audible.Let an expert do your taxes from start to finish so you can relax with TurboTax.Set, track, and manage your financial goals as your life evolves with Scotia Smart Investor.Get the professional support you need to prepare for your future career with UBC Sauder School of Business.Universal life insurance can offer protection and long-term tax-advantaged savings for your future goals & milestones. Get a universal life policy today through a simple, easy, and 100% digital purchase journey with Everly.What does happen when money and big feelings mix? Tune in to find out on the new podcast, Open Money, presented by Servus Credit Union.Support our free podcast by supporting our sponsors.Connect with Sam: Website | Twitter Connect with Rebecca: Twitter | InstagramEmail: Rebecca@theinvestorspodcast.comSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Tom welcomes back David Hay author, CO-Founder and CO-CIO of Evergreen Gavekal. He recently released his book "Bubble 3.0" which is a warning David isn't surprised that Powell intends to maintain these rate levels, which remain well below the CPI. He is trying to cool the markets down, yet bond spreads have recently narrowed. Fixing the problems today is a conundrum, as deficits are rising. He expects credit spreads to widen, resulting in a downtrend for stocks. What happens if government tax revenues decline while the Fed tightens and debt servicing rises? Things will become painful quickly. Central banks' acquisition of gold is running at record pace, and they are not buying U.S. Treasuries, which could be a real problem for the Fed. What if rates have to rise during a recession? We are seeing the weakness in housing markets, especially in Canada, where prices are starting to crack, and commercial real estate is already a disaster. We are in unprecedented territory, where fake GDP growth could occur. This is why people are suffering, as inflation eats up any wage improvements. Monetary policy works with lags, and these are variable but likely inevitable. It is encouraging to see nuclear coming back as energy realities return, even though coal usage is setting records globally. He discusses how the nuclear regulatory commission should be renamed to the anti-nuclear regulatory commission. David believes the uranium market is poised to outperform, as dozens of new plants are being constructed in Asia. He explains why SMR technology could be beneficial for stabilizing the grid, by creating power at a local level. Talking Points From This Week's Episode Central banks are not buying U.S. Treasuries, which could be a real problem for the Fed if rates have to rise during a recession.We are in unprecedented territory, with questionable GDP growth, and inflation eating away at wage increases.Uranium is poised to outperform, as dozens of new plants are being constructed in Asia, and the benefits of SMR technology. Time Stamp References:0:00 - Introduction0:42 - Powell & Higher Rates4:18 - Corporate & Gov't Bonds6:22 - Inflation Factors?13:47 - Fed & Political Risks17:30 - Debt Servicing & Ceilings22:36 - Housing Bubble Concerns25:23 - Consumers & Consequences27:50 - Outlook for the Economy30:50 - Fundamental Shifts?32:43 - Policy Effects33:16 - Gold Ratios & Recession35:20 - Copper Prices & Demand36:47 - Recession Probabilities38:55 - Energy & Inflation42:00 - Best Energy Options45:37 - Anti-Nuclear Commission53:34 - Gold Triggers & Trading55:00 - Bond Opportunities57:04 - Wrap Up Guest Links:Website: https://http://evergreengavekal.com/Substack: https://haymaker.substack.comTwitter: https://twitter.com/Haymaker_0 David Hay is a longtime investment advisor and financial author from Bellevue, Washington. He and his wife, Mindy, now split their time between the Northwest, Southern California, and a few places in between (their two dogs love long road trips). They have six grandchildren, three of who live on the West Coast and three on the East Coast. Dave is desperately hoping for a better world for his grandchildren to grow up in than the one we have right now. In that regard, Dave is an ardent supporter of No Labels, a bipartisan political movement that currently includes roughly 70 members of Congress. He is the recently appointed Co-Chairman of No Labels' Washington State organization. You can find his financial writings on his substack linked above on a weekly basis.

Rebecca Hotsko chats with Chance Finucane, who is a partner, and Chief Investment Officer at Oxbow Advisors. They discuss Chance's current outlook for the market and economy for 2023, why he expects a recession sometime in 2023, what's driving investors' complacency in the market, and much more!IN THIS EPISODE, YOU'LL LEARN:00:00 - Intro02:41 - Why Chance expects a recession sometime in 2023 and the stock market to decline by about 20%. 03:55 - What's driving investors' complacency in the market, despite being so pessimistic. 07:43 - What a Fed Pivot means for the stock market and the economy. 10:54 - Which leading indicators Chance is relying on to help inform his investment decisions. 11:51 - What would be the catalyst to cause investors to start selling. 12:52 - Why Chance thinks the defensive sectors are the most overvalued parts of the market still. 24:34 - The sectors that typically outperform coming out of a recession. 24:34 - How much the stock market would drop if earnings downgrade as expected. 26:21 - What Oxbow's investment process looks like for their high growth equity strategy. 27:58 - Why he thinks earnings estimates are still too high for 2023. 30:20 - Why Google is one of their biggest holdings for their equity strategy and looks attractive at today's price. 31:32 - Which tech stocks he thinks are undervalued and overvalued at today's prices. 42:10 - Why Chance is still bullish on energy long term despite recently reducing some exposure to positions.48:27 - Why he thinks this next decade could be more like the 1970s with waves of inflation. And much, much more!*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.BOOKS AND RESOURCESCheck out: Oxbow Advisors.Related Episode: Listen to MI231: History's Biggest Financial Bubble w/ David Hay, or watch the video.NEW TO THE SHOW?Check out our Millennial Investing Starter Packs.Browse through all our episodes (complete with transcripts) here.Try Robert and Rebecca's favorite tool for picking stock winners and managing our portfolios: TIP Finance.Enjoy exclusive perks from our favorite Apps and Services.Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.Learn how to better start, manage, and grow your business with the best business podcasts.P.S The Investor's Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!SPONSORSGet a FREE audiobook from Audible.Talk to your clients about Desjardins Responsible Investment today and support what's right for society and what's good for business.Take stock of your finances and investing strategy with Betterment.Let an expert do your taxes from start to finish so you can relax with TurboTax.If your business has five or more employees and managed to survive Covid you could be eligible to receive a payroll tax rebate of up to twenty-six thousand dollars per employee. Find out if your business qualifies with Innovation Refunds.Find the perfect piece of jewelry for life's special moments with Blue Nile. Save up to 50% off today!Support our free podcast by supporting our sponsors.Connect with Chance: Website | LinkedIn Connect with Rebecca: Twitter | InstagramSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Rebecca chats with David Hay. Together, they engage in conversation regarding David's market outlook for 2023, the reasons behind his belief in an earnings recession, and various other topics.David Hay is a longtime investment advisor, where he is currently the Chief Investment Officer at Evergreen Capital. He is also a financial author and recently wrote the book titled: Bubble 3.0: History's Biggest Financial Bubble.IN THIS EPISODE, YOU'LL LEARN: 00:00 - Intro04:51 - Why David believes we will have an earnings recession and markets have yet to price this in. 09:55 - How the tremendous amount of government debt that needs to be issued and rolled over could mean interest rates go up in a recession. 13:41 - Why David believes we could see inflation come back. 17:45 - What impact China's reopening could have on the US economy and the Fed's goal of achieving a “soft landing”. 23:47 - David's outlook on energy and why thinks we could see a third year of outperformance. 27:12 - David's investment thesis behind USO, Shell PLC and CTRA. 40:18 - David's outlook on the uranium sector and thesis on Sprott Physical Uranium Trust. *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.BOOKS AND RESOURCESCheck out David's financial writings: Haymaker.Check out David's book: Bubble 3.0: History's Biggest Financial Bubble (audiobook on Awesound) USE DISCOUNT CODE: MINVEST33Related Episode: Listen to MI231: Bubble 3.0 History's Biggest Financial Bubble w/ David Hay , or watch the video.NEW TO THE SHOW?Check out our Millennial Investing Starter Packs.Browse through all our episodes (complete with transcripts) here.Try Robert and Rebecca's favorite tool for picking stock winners and managing our portfolios: TIP Finance.Enjoy exclusive perks from our favorite Apps and Services.Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.Learn how to better start, manage, and grow your business with the best business podcasts.P.S The Investor's Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!SPONSORSGet a FREE audiobook from Audible.Get personalized, expert advice that helps you see things clearly with ATB.Take stock of your finances and investing strategy with Betterment.Let an expert do your taxes from start to finish so you can relax with TurboTax.Talk to your clients about Desjardins Responsible Investment today and support what's right for society and what's good for business.Find the perfect piece of jewelry for life's special moments with Blue Nile. Save up to 50% off today!If your business has five or more employees and managed to survive Covid you could be eligible to receive a payroll tax rebate of up to twenty-six thousand dollars per employee. Find out if your business qualifies with Innovation Refunds.Support our free podcast by supporting our sponsors.Connect with Rebecca: Twitter | InstagramConnect with David: Twitter | LinkedIn See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Bubble 3.0: History's biggest financial bubble: Who blew and how to protect yourself when it blows apart. - David Hay David Hay has been working in the securities industry since 1979 when he joined Dean Witter Reynolds, now Morgan Stanley. He was named Senior Vice President in 1983. In 1985 he was the youngest member to be elected to Dean Witter's elite Chairman's Council. David and his team joined Smith Barney in 1990 and were instrumental in establishing the Portfolio Advisory Program. Fulfilling the positions of Senior Vice President, Senior Portfolio Manager and Director, David also served on the Smith Barney Directors Advisory Group, gaining valuable experience in merger integration and client service enhancement. He acquired a majority interest in Evergreen Gavekal (at the time, Evergreen Capital Management) in 2002. He continues to serve his long-time clients and acts as Co-Chief Investment Officer with special emphasis in macroeconomic research. In early 2022, David released his second book, Bubble 3.0: History's Biggest Financial Bubble: Who Blew It And How To Protect Yourself When It Blows Apart. The book explores why he believes the financial markets are headed toward a third iteration of past market busts. He believes there are a number of investment areas/asset classes poised to benefit from what he has begun referring to as “The New World Disorder.” Haymaker, David's Substack newsletter, launched earlier this year; is presently available to readers at no cost and can be found here.

IN THIS EPISODE, YOU'LL LEARN: 03:34 - Why David believes we are in the biggest financial bubble of all time and how did we get to this point? 05:57 - Why the Fed's use of Modern Monetary Theory, Quantitative Easing (QE) and negative real yields have been large contributors to Bubble 3.0.09:09 - What the difference is between QE and Modern Monetary Theory. 14:47 - What the “Fed Put” is, does it still exist, and what impact this has on the stock market. 26:28 - Why David thinks this bubble is more like the 2008-2009 period and what is different about this time. 32:44 - David thoughts on where we are in Bubble 3.0 as of 2022 and why he thinks the worst is not over. 37:23 - What is driving the dollar's recent strength? 46:50 - David's thoughts on owning Gold and bonds right now. 51:10 - Why David thinks now is the worst time to be a passive investor and his thoughts on the “passive indexing bubble”. And much, much more! *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.BOOKS AND RESOURCESCheck out David's financial writings: Haymaker.Check out David's book: Bubble 3.0: History's Biggest Financial Bubble (audiobook on Awesound) USE DISCOUNT CODE: MINVEST33Related episode: Stock Market Bubbles & Crashes w/ Scott Nations - MI197.NEW TO THE SHOW?Check out our Millennial Investing Starter Packs.Browse through all our episodes (complete with transcripts) here.Try Robert and Clay's favorite tool for picking stock winners and managing our portfolios: TIP Finance.Enjoy exclusive perks from our favorite Apps and Services.Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.Learn how to better start, manage, and grow your business with the best business podcasts.P.S The Investor's Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!SPONSORSGet a FREE audiobook from Audible.Confidently take control of your online world without worrying about viruses, phishing attacks, ransomware, hacking attempts, and other cybercrimes with Avast One. Private assets represent 98% of companies in North America but are absent in most portfolios. Reconstruct your portfolio with private markets with Mackenzie Investments.Invest in high quality, cash flowing real estate without all of the hassle with Passive Investing.If your business has five or more employees and managed to survive Covid you could be eligible to receive a payroll tax rebate of up to twenty-six thousand dollars per employee. Find out if your business qualifies with Innovation Refunds.Enjoy a 400-calorie meal that contains 40g of expertly sourced, premium plant protein, all 26 essential vitamins and minerals, and a scientifically calibrated mix of carbs, good fats and fiber with Huel Black Edition. Plus, get a free t-shirt and free shaker with your first order.Take a position daily on potential price movements, and gain exposure while limiting risk with Interactive Brokers.Join Steadily and BiggerPockets in recognizing and celebrating landlords nationwide by participating in the #AmericasBestLandlord contest. Find out how you can win $10,000 today.Support our free podcast by supporting our sponsors. Connect with David: Twitter | LinkedIn Connect with Rebecca: Twitter | InstagramSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

MacroVoices Erik Townsend and Patrick Ceresna welcome Evergreen Gavekal's David Hay to the show to give us an update on the Greenflation trend, talk in detail about the formative global energy crisis and where it's headed, and also discuss equities and precious metals. https://bit.ly/3d0T6tv   Download David's charts: https://bit.ly/3OYUhqS Check out David's newsletter Haymaker  David's audio book - Bubble 3.0 (get 33% off with code MacroV33)   ✅Sign up for a FREE 14-day trial at Big Picture Trading: https://bit.ly/2JjZR7J   Please visit our website https://www.macrovoices.com to register your free account to gain access to supporting materials

Joining me on this installment of The Grant Williams Podcast is my friend, David Hay of Evergreen GaveKal in Bellevue, WA. David and I discuss the dilemma facing central banks, the ways in which the return of inflation change the investment landscape, the ongoing tech wreck, the importance (and reliability) of David's preferred measure of breakouts and breakdowns, the painful lessons he learned before discovering that particular measure and energy - a space in which David has been investing for many years As a reminder, Silver Tier subscribers to https://www.grant-williams.com get access to both Things That Make You Go Hmmm… and all editions of The Grant Williams Podcast, including The End Game, The Super Terrific Happy Hour, The Narrative Game, This Week In Doom and Shifts Happen so sign up today!