Inflection Point

In this round up, Tyler, Mike and Casey cover Larry Fink's call for sustained inflation, June's 5.4% CPI print, Powell's speech, the relationship between the Fed and Treasury, bank earnings, and finally where the crypto market is. --- 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 on...

In this episode of On the Margin, I am joined by Teddy Vallee of Pervalle Global Capital to discuss his views on the various asset classes. We cover his views on the dollar, what a strong and weak dollar would mean for the economies, his framework for analyzing equities, his thoughts on volatility, and finally Bitcoin and crypto as an asset class. --- On the Margin is brought to you by Matrixport,...

In this episode of On the Margin, Mike and Tyler are joined by Blockworks reporter Casey Wagner to discuss a debate on inflation vs deflation, the future of crypto exchanges and banks, and the lack of lending coming from commercial banks. --- 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 pro...

In this week's episode, Mike and Tyler covered Xi Jinping's 100th Anniversary speech, the jobs report, and NYDIG's recent spate of partnerships that make it one of the most important companies in crypto. Also, referenced in this week's episode is this clip from Charlie Munger who agrees with the CCP censoring Jack Ma. https://twitter.com/johncardillo/status/1410943453228306433 --- On the Margin is...

In this episode of On the Margin I am joined by my co-host Tyler to discuss the biggest macro trends he sees playing out today. We discussed his background in finance, the rise of passive, the changing role of volatility, the shift from capital to labor, and the rise of digital assets and the role they play in the growth story. --- On the Margin is brought to you by Matrixport, Asia’s fastest grow...

Mike and Tyler kick off this episode of On the Margin with a SHAMELESS PLUG for Blockworks' upcoming conference Bretton Woods: The Realignment. It's a 250 person exec only summit at the original Bretton Woods Hotel to discuss the future of the monetary system.  Apply here to attend and learn more. For this week's episode, Mike and Tyler cover a16z's $2.2 billion raise, the price-innovation cycle i...

In this episode of On the Margin, I sit down with Anthony Scaramucci to discuss his early career, the founding of Skybridge, his move into Bitcoin, his thoughts on other crypto assets, and the future of America. --- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter On The Margin is brought to you by Blockworks, a financial media brand delivering br...

In this episode of On the Margin, Mike and Tyler discuss why assets are predicting deflation post FOMC, why a high correlation between stocks and bonds means the death of the 60/40 portfolio, the $1 billion equity offering by Microstrategy, and the implications for the economy of rising oil prices. --- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newslet...

In this episode of On the Margin, Mike and Tyler cover the record CPI print showing 5% inflation, BlackRock and other institutional investors scooping up single-family homes, the Anti Trust bill that would break up Amazon, and El Salvador adopting Bitcoin as legal tender.

In this episode of On the Margin I am joined by Tavi Costa, Portfolio Manager on Crescat Capital. In this episode, Tavi breaks down his view on why we may be headed towards inflation, the three pillars of inflation, and why he thinks we are headed for a bull run in gold, silver and other commodities. --- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsl...

In this week's round up, Mike and Tyler cover the disappointing US jobs report and the market's reaction to it. In the month of May, the US added 559,000 jobs compared to expectations of 650,000. The funny thing? Stocks traded up. They also covered the Fed's unwinding of its corporate bond purchases and the possibility of tapering, investor activism in Exxon, and a Bloomberg article on inequality...

In this episode of On the Margin, Brent Johnson of Santiago Capital discusses his views on whether or not CPI inflation is transitory or here to stay. We cover Brent's view on the most recent CPI and PCE prints, why consumer prices are ticking up, and whether or not he thinks we are headed for inflation or deflation. We also did a review of Brent's famous "dollar milkshake theory," the impact of f...

In this week's episode of on the Margin, we cover: ・The $453 billion that has flown into the Federal Reserve's reverse repo facility ・Why there is too much liquidity in the system, and what that means for bonds and quantitative easing ・China's crackdown on Bitcoin, and how the real problem might be rising commodity prices and inflation ・Core PCE rose higher than expected, and Tyler and Mike di...

In this week's episode, Steve Van Metre presents the other side of the popular macro narrative that inflation is coming. Steve's analysis is heavily focused on QE, and how that program is designed to cause lower interest and a stronger dollar. In this episode we cover how the mechanism behind QE works, why it traps dollars in the system, and how that ultimately leads to deflation. --- If you like...

In this week's round up, Mike and Tyler cover crypto's massive sell off, how to contextualize it, and what comes next. They also discuss the first whispers of tapering from the Fed, a twenty year high in correlation between equities and bonds, and China SRO's reiterating the ban on trading crypto. --- If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newslett...

In this episode Greg Foss of 3iQ presents the ultimate macro case for Bitcoin. Greg was the first high yield bond trader in Canada, and comes at Bitcoin from a very math-oriented and macro perspective. We cover his time working as a trader, his framework for assessing the bond market, why the market for credit default swaps is so important, and why Bitcoin is a critical tool for hedging against an...

This week: Elon announces that Tesla will stop allowing customers to pay in Bitcoin, the US Department of Justice and IRS look into Binance, and Stan Druckenmiller predicts the currency will lose reserve status in 15 years. If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter On The Margin is brought to you by Blockworks, a financial media brand deliv...

In this episode I am joined by Mike Green of Simplify Asset Management for a discussion on the US China relationship. We covered the rise of China and its key strategic objectives, how the US faces challenges internally, rising inequality as a vector of attack, the relationship between capital and labor, and finally a path forward for the future. ---- If you like this episode be sure to subscribe...

This week in macro: NYDIG rolls out Bitcoin to "hundreds of US banks," Goldman and Citi mull trading desks, and Cathie Wood's ARK ETF dips 30%. If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter On The Margin is brought to you by Blockworks, a financial media brand delivering breaking news and premium insights about digital assets to millions of inv...

In this episode of On the Margin I am joined by Ted Seides, co-founder at Protege Partners and host of the Capital Allocators podcast. In this episode, we discuss his past experience working under David Swensen at Yale, the creation of the Endowment Model, the current state of the hedge fund industry, and Ted's thoughts on Bitcoin. ---- If you like this episode be sure to subscribe to our newslett...

This week in macro: rates on 1 month issued US treasuries turned negative, South Korean gaming company Nexon bought $100 million in Bitcoin, Eth went on a run, and Germany embraced crypto. If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter On The Margin is brought to you by Blockworks, a financial media brand delivering breaking news and premium ins...

In this episode of On the Margin, Danielle DiMartino Booth brings her deep historical knowledge of the Fed to a wide-ranging discussion of the economy. We cover the evolving role of the Federal Reserve, how the Fed "missed its chance" to normalize markets, the worsening relationship between the US and China, and her opinions on inflation vs deflation. ---- If you like this episode be sure to subsc...

This week in macro: Biden proposes to raise the capital gains tax to 39.6%, we're seeing the beginnings of soft commodity inflation, Mike Novogratz's Galaxy Digital might buy BitGo, and Coinbase Pro announces support for Tether's Ethereum based USDT Stablecoin. All this and more on this week’s roundup with Michael Ippolito and Tyler Neville. If you like this episode be sure to subscribe to our new...

Luke Gromen, Founder and CEO at Forrest for the Trees LLC, joins us for this episode of On the Margin to discuss his view of the monetary system. We cover the bubble in sovereign debt, how the petrodollar system was established, the fracturing relationship between the US and China, and finally the role Bitcoin and gold may play in the future. ---- If you like this episode be sure to subscribe to o...

This week in macro: Treasury yields fell to 1.5%, a possible sign of yield curve control. Then Dan Loeb and Brevan Howard started investing in Bitcoin, Coinbase debuted its direct listing, and Uniswap announced v3. All this and more on this week’s roundup with Michael Ippolito and Tyler Neville. If you like this episode be sure to subscribe to our newsletter at https://blockworks.co/newsletter On...