The Meb Faber Show - Better InvestingThe Idea FarmAll episodes
StoneX' Vincent Deluard: The S&P Is Hiding a Bear Market | #655
My guest today is Vincent Deluard, Director of Global Macro Strategy at StoneX.
In today’s episode, Vincent explains why he’s turning bearish on stocks after years of being a bull. He shares why tax collections are his favorite gauge of the economy, why the world is really paying $150 to $200 for oil and why Europe resembles Japan in 2012, just uglier.
To close, Vincent makes the case for owning the yen, Korean won and UK stocks.
(0:00) Bull Market or Bear Market?
(3:04) The Bifurcated Economy
(6:50) Turning Bearish on Stocks
(10:31) Midterm Politics and the Policy Put
(14:20) Shadow Oil and Inflation
(22:47) Shadow VIX and Market Churn
(26:40) Europe Looking Like Japan
(38:54) Bond Yields and Global Rotation
(46:08) Brazil, Korea, and France
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Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.
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Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).
