Mark is taking some well deserved family time for this episode SO we have a special guest filling in, Avil Felman of BlockTower. Avi is deep in the crypto ecosystem and a born trader, this episode was a blast. We covered Thanksgiving's sell off, whether or not we are in a supercycle, the hype around the metaverse, and what he sees happening in the NFT market. Not an episode to miss, hope you all enjoy. -- Ledger: This episode is brought to you by Ledger, your secure gateway to buy, exchange and ...
Nov 27, 2021•42 min•Season 1Ep. 69
In this episode of On The Margin, Mike is joined by Demetri Kofinas, a media entrepreneur, financial analyst and host of the renowned Hidden Forces podcast. Demetri returns to On The Margin to share his thoughts on the great divide in America, the state of the media, the failing trust in institutions, the effect of globalization on the U.S worker & inflations effect on wealth inequality. -- Ledger: This episode is brought to you by Ledger, your secure gateway to buy, exchange and grow your c...
Nov 24, 2021•51 min•Season 1Ep. 68
In this week's round up, Mark and I kick things off with some good old fashioned chart analysis. First off - credit where credit is due, I got these charts from the Bankless interview with Benjamin Cowen. Phenomenal episode, I highly recommend you check it out. We took a look at what appears to be lengthening cycles in crypto, diminishing returns of each cycle, and a general reduction in volatility. Next we went on to take a look at some economic data, mainly the Philadelphia Fed's Manufacturing...
Nov 20, 2021•54 min•Season 1Ep. 67
In this episode of On The Margin Mike is joined by Jeff Snider of Alhambra Investments & Emil Kalinowski, Mining & Metals Researcher. Jeff & Emil are hosts of Eurodollar University, a podcast dedicated to analyzing the 2007 malfunction of the monetary system - and how its continuing disorder - affects finance, politics and society. Jeff & Emil share their thoughts on the myth of central banking, the Fed's effect on financial markets, why QE is not money printing, the interest rat...
Nov 17, 2021•1 hr 6 min•Season 1Ep. 66
In this week's episode, we kicked things off with an honest review of Solana's Breakpoint conference which I have been at for the past week. I had two big takeaways from the conference: 1. Solana is going to endure well beyond this market cycle 2. We are approaching a top in the current market cycle The folks at Solana absolutely hit it out of the park with this conference, and there were lots of great projects building on the ecosystem. In particular, I was most interested to hear from the deve...
Nov 16, 2021•1 hr 3 min•Season 1Ep. 65
In this episode of On The Margin, Mike is joined by returning guests Lyn Alden & Jurrien Timmer. Lyn is the founder of Lyn Alden Investment Strategy and Jurrien Director of Global Macro at Fidelity. Lyn and Jurrien discuss the long term debt cycle, how the 2020's compare with other periods of history, is the traditional 60/40 portfolio dead, Bitcoin as a hedge for bonds, the effect of inflation on inequality & their outlook for the U.S Dollar. -- Ledger: This episode is brought to you by...
Nov 10, 2021•1 hr 8 min•Season 1Ep. 64
In this episode, Mark and I spent a good deal of time covering "inflation related" topics. First we dug deep into retirees leaving the workforce at an accelerated rate, and a look at the jump in wages in the banking sector. Here is the Tweet I referenced, thank you Skanda Amarnath! Next we took a look at what at first sign appeared to be signs of stress in emerging markets - high yield spreads in China, and emerging market funding stress. But we did a little digging and found a more comprehensiv...
Nov 06, 2021•56 min•Season 1Ep. 63
In this episode of On The Margin, Mike is joined by Mike McGlone, the Senior Commodity Strategist at Bloomberg Intelligence. Mike shares his thoughts on the Bitcoin futures ETFs, the outlook for an Ethereum ETF, crypto market cycles, commodity price increases, the deflationary forces of technology and the incoming Bitcoin supercycle. -- Ledger: This episode is brought to you by Ledger, your secure gateway to buy, exchange and grow your crypto. Combine a Ledger hardware wallet with the Ledger Liv...
Nov 03, 2021•51 min•Season 1Ep. 62
In this week's show, Mark and I dive deep into investor preferences. The first chart that we look at is a fun one from Michael Batnick of the S&P since March of 09 annotated with mini investor panics (GM and Chrysler file for bankruptcy, European debt crises, multiple government shut downs, COVID, etc...). Spoiler alert: the number goes up, and dips should always be bought. Next we take a look at investor sentiment on bonds, which is the lowest it's been since 2000 according to a survey cond...
Oct 30, 2021•1 hr 5 min•Season 1Ep. 61
In this episode of On The Margin Mike is joined by Mike Green of Simplify Asset Management & Alex Gladstein of the Human Rights Foundation. Mike & Alex sit down to debate the role of Bitcoin from opposing angles, discussing wether a Bitcoin standard benefit the U.S, what is the role of Bitcoin for those living under authoritarian regimes, government response to Bitcoin, the war on cash, CBDCs, Stablecoins & the role of sound money in society. -- Ledger: This episode is brought to you...
Oct 27, 2021•1 hr 24 min•Season 1Ep. 60
In this week's round up, Mark and I cover two concepts very deeply: 1) why structural growth is falling and 2) how that impacts inflation. We spend a lot of time covering Mark's "Killer D's" Framework: Demographics, Debt, and Deflation. We also took a deep look at falling estimates for GDP growth, and the limits on how much we can trust central bankers predictions (hint: we can't). We also picked apart some charts that came to us courtesy of Jurrien Timmer of Fidelity on how inflation, commoditi...
Oct 23, 2021•1 hr•Season 1Ep. 59
In this episode on On The Margin, Mike is joined by returning guests Jeff Booth & Greg Foss. Jeff & Greg discuss breaking news as the first ever U.S Bitcoin ETF was approved and what this could mean for institutional exposure to Bitcoin. Mike, Jeff & Greg also discuss the recent developments in El Salvador as Bitcoin was made legal tender, The Lightning Network, the deflationary forces & network effects of technology, Bitcoin mining, the difference between Altcoins vs Bitcoin, th...
Oct 20, 2021•1 hr 12 min•Season 1Ep. 58
In this week's episode, Mark and I kick things off with a cool bit of financial history: Goldman's buy rating of Enron three weeks before it collapsed. I love this piece because it opened the door to chatting about one of my favorite documentaries of all time, "The Smartest Guys in the Room." Mark of course was around at the time and knew folks involved on the short side, so it was particularly interesting to get his take here. That conversation segwayed into a discussion of Tesla, and the thin ...
Oct 16, 2021•1 hr 6 min•Season 1Ep. 57
In this episode of On The Margin Mike is joined by David Hoffman. David is Co-Founder of Bankless, a podcast exploring the frontier of crypto & finance by interviewing some of the greatest thought leaders in the industry. Mike & David discuss the evolution of crypto, how DeFi will disrupt gaming, DAOs, redefining the role of nation states in the metaverse & what the future holds for the cryptocurrency industry. -- Ledger: This episode is brought to you by Ledger, your secure gateway ...
Oct 13, 2021•48 min•Season 1Ep. 56
In this episode of the weekly round up, Mike and Mark spend a lot of time on Bitcoin's recent run above $55,000. They take a look at open interest and the rolling 1 month basis on Bitcoin futures on CME compared to other offshore exchanges like Deribit and Huobi, and what that says about institutional flows. They also take a look at Bitcoin's price action compared to previous cycles in 2013 and 2017, and the recent resumption of the seasonality trend and divergence from equities. In the latter p...
Oct 09, 2021•1 hr 16 min•Season 1Ep. 55
In this episode of On The Margin Mike is joined by returning guests Grant Williams & Luke Gromen. We welcome back two financial market veterans for a special episode exploring the fracturing geopolitical landscape between the east and the west. Grant and Luke share their insight surrounding China's declaration of war on the U.S, how the current monetary system could collapse China's economy, the consequences of globalization, what the end game is for the dollar & how to prepare for the c...
Oct 06, 2021•1 hr 3 min•Season 1Ep. 54
In this episode it's a "charts, charts, charts!" special. Mike and Mark go deep on the budding energy crisis, crypto's 10% rally on Friday, a potential return to 1970s like inflation, housing prices, and finally what the role of government should be. -- On the Margin is brought to you by Matrixport, Asia’s fastest growing digital asset platform. With $10 billion in assets under management and custody, it provides one-stop crypto financial services with over $5 billion in average monthly trading ...
Oct 02, 2021•1 hr•Season 1Ep. 53
In this episode of On The Margin, Mike is joined by Eric Basmajian. Eric is the founder of EPB Macro Research, a service that provides premium fundamental macro economic research, with a focus on long-term & short-term economic cycle risk management. In this episode, Mike & Eric discuss the long term structural deflationary economic trends, cyclical inflation, technologies effect of reducing labour, MMT & how a CBDC could be used to generate high inflation, but a reduction in real gr...
Sep 29, 2021•47 min•Season 1Ep. 52
In this episode of the weekly round up, Mike and Mark cover stimulus payments, commercial bank lending, commodities, bankruptcies and liquidations, China's crypto ban and Softbank and Tiger Global's big move into digital assets. -- On the Margin is brought to you by Matrixport, Asia’s fastest growing digital asset platform. With $10 billion in assets under management and custody, it provides one-stop crypto financial services with over $5 billion in average monthly trading volumes. The offerings...
Sep 25, 2021•58 min•Season 1Ep. 51
In this episode of On The Margin, Mike is joined by Jim Bianco. Jim founded Bianco Research, L.L.C in 1990 and has served as President and Macro Strategist for nearly 20 years. In this episode Jim and Mike discuss inflation, MMT, the digital currency revolution and how DeFi can fix inefficiencies in the legacy banking system. __ On the Margin is brought to you by Matrixport, Asia’s fastest growing digital asset platform. With $10 billion in assets under management and custody, it provides one-st...
Sep 22, 2021•1 hr 1 min•Season 1Ep. 50
In this weekly round up, Mike and Mark get deep into the Evergrande saga. They take a look at credit conditions in China's property sector, and dive into whether or not contagion is likely to spread into adjacent markets. They also cover Tesla and SpaceX, the adoption curve of crypto vs the internet, and the talent migration coming into digital assets. -- Matrixport: On the Margin is brought to you by Matrixport, Asia’s fastest growing digital asset platform. With $10 billion in assets under man...
Sep 18, 2021•59 min•Season 1Ep. 49
In this episode of On the Margin Mike is joined by Dan Tapiero. We invited Dan back to the podcast to discuss his recent $750 million capital raise for the 10T digital asset fund. With over 20 years in the hedge fund business working at firms such as Tiger Management, Steinhardt Partners & SAC Capital, Dan shares his thoughts on the current macro environment, how 10T approaches investing in crypto companies, the exponential growth of the digital asset ecosystem & the road to a $300,000 B...
Sep 15, 2021•1 hr 1 min•Season 1Ep. 48
In this week's round up, Mike and Mark cover US investing activity in China, Soros' op-ed on Blackrock's investment decisions in China, and the SEC's decision to sue Coinbase over its lend product. --- On the Margin is brought to you by Matrixport, Asia’s fastest growing digital asset platform. With $10 billion in assets under management and custody, it provides one-stop crypto financial services with over $5 billion in average monthly trading volumes. The offerings include Cactus Custody™, spot...
Sep 11, 2021•56 min•Season 1Ep. 47
In this episode of On The Margin, Mike is joined by Bill Blain. Bill is a strategist, specializing in alternative assets at Shard Capital, the award winning investment and asset management firm based in London, UK. Bill is also an industry recognized financial journalist, writing the daily newsletter 'Blain's Morning Porridge'. In this episode, Mike and Bill discuss the recent labor shortage and its effect on inflation, troubles in the U.S housing market, wealth inequality & if cryptocurrenc...
Sep 08, 2021•47 min•Season 1Ep. 46
In this weekly round up Mike welcomes new co-host Mark Yusko of Morgan Creek to the mix. Mike and Mark discuss expensive equity market valuations, slack in the labor market, John Paulson's comments on crypto, Gary Gensler's comments on crypto, and FTX.US plans for world domination. --- On the Margin is brought to you by Matrixport, Asia’s fastest growing digital asset platform. With $10 billion in assets under management and custody, it provides one-stop crypto financial services with over $5 bi...
Sep 04, 2021•1 hr 1 min•Season 1Ep. 45
In this episode of On The Margin Mike is joined by Darius Dale. Darius is the founder and CEO of 42 Macro, an investment research firm aiming to democratize the access to institutional-grade research, allowing investors to take advantage of changing market narratives using data driven signals. In this episode, Darius shares his thoughts on how investors should prepare for a slowdown in global growth, a rise in secular inflation, navigating both financial volatility and political risk, the fourth...
Sep 01, 2021•1 hr•Season 1Ep. 44
In this episode of the round up, Mike and Tyler discuss rising wages, home prices, the impact of Powell's suggestion to taper, the booming NFT market, and the layer 1 wars that are starting to heat up. --- On the Margin is brought to you by Matrixport, Asia’s fastest growing digital asset platform. With $10 billion in assets under management and custody, it provides one-stop crypto financial services with over $5 billion in average monthly trading volumes. The offerings include Cactus Custody™, ...
Aug 28, 2021•1 hr 3 min•Season 1Ep. 43
In this episode of On The Margin Mike is joined by Alfonso Peccatiello. Alfonso is the author of the weekly online newsletter The Macro Compass. Alfonso shares his thoughts on the signs of slowing structural growth, financial repression, the effect of quantitative easing, reverse repos and how a Bitcoin standard would affect a credit driven economy. --- On the Margin is brought to you by Matrixport, Asia’s fastest growing digital asset platform. With $10 billion in assets under management and cu...
Aug 25, 2021•59 min•Season 1Ep. 42
In this episode of On the Margin, Mike and Tyler cover Binance’s regulatory issues, OnlyFans ban on pornography, and Jay Clayton joining Fireblocks’ board. --- On the Margin is brought to you by Matrixport, Asia’s fastest growing digital asset platform. With $10 billion in assets under management and custody, it provides one-stop crypto financial services with over $5 billion in average monthly trading volumes. The offerings include Cactus Custody™, spot OTC, fixed income, structured products, l...
Aug 21, 2021•53 min•Season 1Ep. 41
In this episode of On The Margin, Mike is joined by Peter Doyle the Managing Director, President & Co-Founder of Kinetics Mutual Funds, Inc. Peter weighs in on his thoughts surrounding the bailouts in 2020, navigating the risk of secular inflation, negative real returns for bonds and how Bitcoin could benefit society in the long run. --- On the Margin is brought to you by Matrixport, Asia’s fastest growing digital asset platform. With $10 billion in assets under management and custody, it pr...
Aug 18, 2021•46 min•Season 1Ep. 40
