Panic with Friends – Investing for Profit and Joy
The last time there was a major market panic we were panicked about COVID, which is why I started this podcast. I had planned a few episodes to ride us through the chaos, but here we are just over two years and just over 200 episodes later with another market panic. The VIX is comfortably back above 30, tech stocks are in a complete freefall, and the laser-eye crypto people are barfing up their bitcoin.
That’s why I thought it would be interesting to bring on our guest David Woo to talk about the global macro picture and mark this place in time because we’ve been in this long, long tech boom that’s quickly become a tech wreck. All of a sudden interest rates have gone from zero to 3% – it doesn’t sound like a big move, but the speed with which we went there makes the current market dangerous and a future littered with unintended consequences.
David is a former Wall Street Investment Strategist and now he’s current CEO of David Woo Unbound, where he’s leveling the playing field for Main Street. His blog, podcast, and YouTube are a global forum promoting fact-based debates about markets, politics, and economics. David was previously the Head of Global Rates, Foreign Exchange, and Emerging Market Fixed Income and Economics Research at Bank of America. He holds a Ph.D in Economics from Columbia.
David is known for his many correct contrarian calls and he’s got some really strong opinions, ideas, and forecasts I thought I should share. Enjoy!
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I hope you enjoy this episode. More details on the podcast are below…
Guest: David Woo
Profile: Former Wall Street Strategist, CEO of David Woo Unbound
Where to Find Him: LinkedIn, Twitter, YouTube
What’s David Panicked About?: Total war with Russia
Show Notes:
- (00:43) – Intro
- (05:49) – Welcome David Woo
- (06:07) – The pivot in global macro
- (09:41) – Tech won’t solve this
- (11:42) – Global momentum is slowing
- (19:04) – Waking the dragon
- (21:07) – Energy is key
- (25:57) – Pressure on the system
- (36:50) – Profit margins under pressure
- (37:42) – Looking at a recession?
- (42:14) – Wall Street v. Main Street
- (44:49) – Wrapping up
- (48:27) – Closing thoughts
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