Monetary Matters with Jack Farley

Jack Farley
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Jack Farley interviews the very best financial minds about macro, markets, and monetary matters. Follow Jack on Twitter @JackFarley96.

  1. Why Carson Block Won’t Short AI Names Until the IPOs Begin & Muddy Waters’ Pivot to Long Resources Stocks & S&P 500 Momentum

    HACE 5 DÍAS

    Why Carson Block Won’t Short AI Names Until the IPOs Begin & Muddy Waters’ Pivot to Long Resources Stocks & S&P 500 Momentum

    This episode is brought to you by the Pictet AI Enhanced International Equity ETF ($PQNT): https://etf.am.pictet.com/pqnt/ Carson Block, founder of Muddy Waters Capital joins Monetary Matters to discuss why they aren’t rushing to short AI pretenders and fakers until more supply of speculative companies hits the market from big IPOs. They also discuss the increasing dominance of flows over fundamentals in US markets and abroad and Muddy Waters expanding investment focus including: metals and mining stocks, Vietnam, and momentum strategies. Follow Muddy Waters on Twitter: https://x.com/muddywatersre Follow Jack Farley on Twitter: https://x.com/JackFarley96 Follow Monetary Matters on: Apple Podcast https://rb.gy/s5qfyh Spotify https://rb.gy/x56dx5 YouTube https://rb.gy/dpwxez Timestamps: 00:00 Introduction 01:44 AI and Market Speculation 05:14 Challenges in Short Selling AI Stocks 17:58 Pictet PQNT 19:09 AI Pretenders 21:41 Mining Investments and Strategies 36:51 Red Flags in Investor Presentations 39:07 Geopolitical Considerations 40:15 Fraud in Chinese Companies 49:43 Vietnam and India Investment Opportunities 59:05 Momentum Strategy in the S&P 500 01:05:07 Activist Short Selling and Future Plans

    1 h y 6 min
  2. Why Silver Is Flowing East | Alex Campbell on Solar, Scarcity, and the Six-Sigma Silver Crash (Plus: SaaS & AI)

    HACE 6 DÍAS

    Why Silver Is Flowing East | Alex Campbell on Solar, Scarcity, and the Six-Sigma Silver Crash (Plus: SaaS & AI)

    This episode is brought to you by the Pictet AI Enhanced International Equity ETF ($PQNT): https://etf.am.pictet.com/pqnt/ Alexander Campbell, founder of Rose AI and former head of commodities at Bridgewater, joins the show to dissect the structural drivers behind the silver market and the transformative potential of artificial intelligence. Campbell details the "Silver Squeeze" thesis, attributing the metal's volatility to a combination of inelastic industrial demand from solar manufacturing and speculative capital flight out of China. He clarifies complex market dynamics, specifically the "Shanghai Premium" and the logistical friction involved in moving physical metal between Western and Eastern exchanges. Shifting to technology, Campbell warns of an impending "air pocket" for traditional software stocks, arguing that AI agents will disrupt companies that function primarily as "a database and a front end". He outlines a future defined by local compute and open-source models, predicting that value will accrue to data ownership and physical hardware rather than legacy SaaS applications. The conversation concludes with Campbell’s macro strategy of being long the "world of stuff" and data while betting against the "economy of paper" amidst de-globalization. Recorded February 2, 2026. Alex’s pieces: “Silver: The Only Money That Generates Electricity”: https://www.campbellramble.ai/p/silver-the-only-money-that-generates “The Silver Squeeze”: How Solar Threatens a Decade of Deficits https://www.campbellramble.ai/p/the-silver-squeeze “When You Feel Pain, Remember to Reflect”: https://www.campbellramble.ai/p/when-you-feel-pain-remember-to-reflect “The Protection Portfolio: September 2025”:https://www.campbellramble.ai/p/the-protection-portfolio-september Follow Alex Campbell on X https://x.com/abcampbell Follow Jack Farley on X https://x.com/JackFarley96 World Silver Survey 2025:https://silverinstitute.org/wp-content/uploads/2025/04/World_Silver_Survey-2025.pdf November 2025 Interim Market Review: https://silverinstitute.org/wp-content/uploads/2025/11/Silver_Institute_Silver_Interim_2025.pdf Follow Monetary Matters on: Apple Podcast https://rb.gy/s5qfyh Spotify https://rb.gy/x56dx5YouTube https://rb.gy/dpwxez

    1 h y 37 min
  3. Is the Age of Reckless Lending Coming To An End? | Oaktree’s Raghav Khanna on Private Credit, Software, and How Oaktree Correctly Saw First Brands' Red Flags

    1 FEB

    Is the Age of Reckless Lending Coming To An End? | Oaktree’s Raghav Khanna on Private Credit, Software, and How Oaktree Correctly Saw First Brands' Red Flags

    This episode is brought to you by CAIA.nxt. Learn more about their alternatives education courses for investment advisors and get 10% off with code MMTEN: https://caia.org/content/welcome-monetary-matters-and-other-peoples-money-listeners   Raghav Khanna, managing director at Oaktree’s Global Private Debt strategy, joins Jack to discuss the ins and outs of the credit industry. Raghav offers insight into the opaque world of lending, including his opinions on the First Brands Group fiasco, private credit, and artificial intelligence. Raghav not only explains recent trends in credit, but gives his thoughts on where things may be headed as technology shifts. Recorded on January 22nd, 2026.   Follow Raghav Khanna on LinkedIn https://www.linkedin.com/in/raghavkhanna/ Follow Jack Farley on Twitter https://x.com/jackfarley96   Follow Monetary Matters on: Apple Podcasts https://rb.gy/s5qfyh Spotify https://rb.gy/x56dx5 YouTube https://rb.gy/dpwxez

    1 h y 1 min
  4. Trump’s Hidden Mortgage Stimulus from Fannie & Freddie | Joseph Wang on GSEs, Kevin Warsh, Powell, and Dollar Hedging

    31 ENE

    Trump’s Hidden Mortgage Stimulus from Fannie & Freddie | Joseph Wang on GSEs, Kevin Warsh, Powell, and Dollar Hedging

    This episode is brought to you by the Pictet AI Enhanced International Equity ETF ($PQNT): https://etf.am.pictet.com/pqnt/ In this interview, Joseph Wang of FedGuy.com discusses various levers the Trump administration could pull to lower mortgage rates, even without the Federal Reserve's direct involvement. These include directing government-sponsored enterprises like Fannie Mae and Freddie Mac to increase their mortgage holdings, potentially by lifting their current portfolio caps. Wang also notes that expanding access to cheap financing from Federal Home Loan Banks for mortgage REITs could be another avenue. Beyond housing, Wang predicts that President Trump will significantly influence the Federal Reserve, potentially leading to more interest rate cuts than the market currently anticipates. He suggests that Chair Powell will likely leave his position in May, allowing Trump to appoint a successor. Wang is bullish on the US economy, citing tailwinds like a potential productivity boom, strong credit creation, and stimulative fiscal policy. However, he cautions that AI stocks are in a bubble, though he believes the technology itself will benefit the broader economy by increasing productivity. Recorded January 29, 2026. Joseph Wang’s YouTube channel: https://www.youtube.com/@Fedguy12 “Sleeping Giants” (Joseph’s piece on Fannie & Freddie): https://fedguy.com/sleeping-giants/ Follow Joseph Wang on X https://x.com/josephwang Follow Jack Farley on X https://x.com/JackFarley96 Follow Monetary Matters on: Apple Podcast https://rb.gy/s5qfyh Spotify https://rb.gy/x56dx5 YouTube https://rb.gy/dpwxez

    50 min
  5. “Software Earnings Massacre” While Precious Metal Vol Explodes | Jack & Max on Silver, Fed Meeting, and Earnings

    29 ENE

    “Software Earnings Massacre” While Precious Metal Vol Explodes | Jack & Max on Silver, Fed Meeting, and Earnings

    This Monetary Matters episode is brought to you by Fiscal.ai. Sign up for a 2-week free trial and get 15% off any paid tier at: ⁠https://fiscal.ai/mm/ The relentless surge in precious metals continues, with gold seeing gains in all but three trading days this year and silver holding above $110 despite some analyst warnings that the rally may be nearing an end. While some attribute these moves to a "debasement trade" or a weakening US dollar, the speakers argue that silver’s rise is primarily driven by real industrial demand and supply shortages rather than pure speculation. Beyond metals, the 2026 market is being shaped by a "hawkish" Federal Reserve that signaled it is unlikely to cut rates in March due to a stable labor market and elevated inflation. On the earnings front, Microsoft and Meta reported strong revenue but faced differing investor reactions over massive capital expenditures in AI. Meanwhile, Tesla saw its stock rally despite a double-digit decline in automotive revenue, as investors focused on its transition into a "physical AI" company specializing in robotics and autonomous driving. Finally, a "doomsday" narrative is currently haunting software-as-a-service (SaaS) companies, as investors weigh whether AI will commoditize software or if established brands can maintain their high customer retention. Recorded evening of January 28, 2026. Follow Jack Farley on Twitter: https://x.com/JackFarley96 Follow Max Wiethe on Twitter: https://x.com/maxwiethe Follow Monetary Matters on:  Apple Podcast https://rb.gy/s5qfyh  Spotify https://rb.gy/x56dx5 YouTube https://rb.gy/dpwxez

    1 h y 4 min
  6. The SaaS Reckoning, Consumer Trends, & AI Disruption: The Macro & Micro Signals That Matter in 2026 | Deiya Pernas

    28 ENE

    The SaaS Reckoning, Consumer Trends, & AI Disruption: The Macro & Micro Signals That Matter in 2026 | Deiya Pernas

    Deiya Pernas, co-founder of Pernas Research, has crushed the market and compounded at over 30% since he and his partners began tracking their portfolio in 2017. In this interview, Deiya examines 10 key micro and macro questions that he believes could be the key to continued outperformance in 2026, including questions around SaaS spend, white collar hiring, home buying in a lower rate environment, consumer spending trends, and more. Learn more about Pernas Research: https://pernasresearch.com Follow Pernas Research on Twitter: https://x.com/pernasresearch Follow Max Wiethe on Twitter: https://x.com/maxwiethe Follow Jack Farley on Twitter: https://x.com/JackFarley96 Follow Monetary Matters on: Apple Podcast https://rb.gy/s5qfyh Spotify https://rb.gy/x56dx5 YouTube https://rb.gy/dpwxez Timestamps: 00:00 Introduction 01:14 Key Market Questions for 2025 02:19 The SaaS Apocalypse and Disruption Risks in SaaS 05:03 Investment Strategies and Mean Reversion 11:17 AI's Role in SaaS and Portfolio Construction 13:53 Structural Changes and Consumer Behavior 18:13 SEO and Commercial Search Intent 23:14 Small Companies and Market Trends 27:19 Investment Philosophy and Risk Management 29:34 Remitly: A Case Study in Investment 32:46 Stablecoins and Remittance Payments 36:39 Challenges for Crypto Adoption in Remittances 38:30 Understanding Migrant Financial Behavior 39:41 Consumer Spending Shifts Post-2020 42:25 Housing Market and Economic Indicators 44:26 Brand Equity and Consumer Discretionary Investments 49:36 The Influence of Social Media on Sports Spend 56:57 Commercial Travel and Office Return Trends 01:05:31 Cybersecurity: A Growing Investment Focus 01:07:56 Conclusion

    1 h y 8 min
  7. How $100B Asset Managers Are Making Tokenized Funds a Reality | Maredith Hannon of WisdomTree

    27 ENE

    How $100B Asset Managers Are Making Tokenized Funds a Reality | Maredith Hannon of WisdomTree

    Maredith Hannon, Head of Business Development at Wisdom Tree Digital, joins Other People’s Money to discuss how tokenized real-world assets are taking off at a pace eerily similar to the early growth of ETFs. Crypto enthusiasts have long touted the potential for fund vehicles to be tokenized and put on chain. That story is quickly becoming a reality with rapid AUM growth and established players like WisdomTree with over $100B in AUM quickly launching funds from money market and equity to alternatives like private credit. Hannon also discuss the additional utility that on chain funds provide and how they are giving access to retail and institutional clients alike with platforms like WisdomTree Prime and WisdomTree Connect. Follow Maredith Hannon on X: https://x.com/MaredithH1 Follow Max on X: https://x.com/maxwiethe Follow Other People’s Money on: Apple Podcast https://bit.ly/4e7QJ1M Spotify https://bit.ly/3Yhaazi YouTube https://bit.ly/3C63VXR X https://x.com/opmpod Timestamps: 00:00 Introduction 00:54 The Rise of Tokenization 02:20 WisdomTree's Tokenized Funds 04:35 Comparing ETFs and Tokenized Funds 10:35 User Experience in Tokenized Assets 20:29 Regulation and Future of Tokenized Funds 25:12 Tokenized Private Credit 26:01 Liquidity and Redemption in Private Credit Funds 28:08 Secondary Market and Peer-to-Peer Transfers 29:34 Transparency and Daily Updates 37:10 Future of KYC and Identity Verification 43:12 Global Expansion and New Use Cases 46:10 Getting Started with WisdomTree Prime

    47 min
  8. U.S. Stocks Are Overvalued, But Not In A Bubble | Professor Aswath Damodaran on Equity Valuations, AI Data Center Boom, and “Big Market Delusions”

    25 ENE

    U.S. Stocks Are Overvalued, But Not In A Bubble | Professor Aswath Damodaran on Equity Valuations, AI Data Center Boom, and “Big Market Delusions”

    Learn more about the Fundrise Income Fund here: https://Fundrise.com/mm In this deep-dive interview, NYU Finance Professor Aswath Damodaran, the "Dean of Valuation," assesses the current state of the U.S. stock market, describing the S&P 500 as richly priced but stopping short of calling it a bubble. He explores the "big market delusion" inherent in the AI revolution, distinguishing between the profitable "architecture" of chips and the highly speculative future of Large Language Models. Damodaran provides a candid look at his own portfolio, explaining why he recently exited his Nvidia position after a massive run while continuing to hold Microsoft. He offers a sharp critique of "lazy" valuation metrics like the P/E ratio, arguing that investors must instead focus on cash flows and the shift toward buybacks to understand market resilience . Furthermore, he warns that while AI will benefit consumers, the resulting competition may actually lead to lower profit margins for most companies collectively. Finally, the Professor touches on the role of gold as something that is viewed as an "insurance policy" in a world where institutional trust is rapidly eroding. Recorded on January 15, 2026. Aswath Damodaran’s YouTube channel https://www.youtube.com/@AswathDamodaranonValuation Aswath Damodaran’s Website https://pages.stern.nyu.edu/~adamodar/ Aswath Damodaran on X https://x.com/AswathDamodaran Aswath Damodaran on LinkedIn https://www.linkedin.com/in/aswathdamodaran/ Follow Jack Farley on X https://x.com/JackFarley96 Follow Monetary Matters on: Apple Podcast https://rb.gy/s5qfyh Spotify https://rb.gy/x56dx5 YouTube https://rb.gy/dpwxez

    59 min
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Jack Farley interviews the very best financial minds about macro, markets, and monetary matters. Follow Jack on Twitter @JackFarley96.

Información

  • Creador
    Jack Farley
  • Años de actividad
    2024 - 2026
  • Episodios
    220

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