Episodes
My guest in this episode of The Grant Williams Podcast is Dave Dredge of Convex Strategies in Singapore - a man with whom I had several epic conversations during my time at Real Vision. This time, our discussion was sparked by a recent monthly letter Dave published which examined the recent US withdrawal from Afghanistan and used it to look at financial markets through the prism of ‘self-organized criticality.’ Dave’s ability to communicate complex ideas with brilliantly-chosen metaphors is...
Published 10/18/21
My guest in the latest episode of The Grant Williams Podcast is two things - a fast-rising star in the Twitterspshere who‘s been producing some of the most readable and insightful commentary on the economy, financial markets and politics over the past several months... and a green cartoon chicken. In this fascinating conversation, we discuss his journey so far, the motivations behind his deciding to put claw to keyboard and several of the topics he‘s covered so brilliantly in recent weeks...
Published 09/30/21
This week, on the Super Terrific Happy Hour, Stephanie & Grant are joined by the legendary Sam Zell, a billionaire investor, entrepreneur and philanthropist whose uncanny knack of knowing not just which businesses to get into, but when to let somebody else take them off his hands (at significantly higher prices) is unmatched. In this wonderful conversation, Steph and Grant expose the details of Sam’s first ever business venture, the personality traits which give him an edge over his...
Published 09/29/21
My guest in the latest edition of The Grant Williams Podcast is my friend, Daniel Want, the Chief Investment Officer of Prerequisite Capital Management in Brisbane Australia. Daniel is truly a unique thinker - something I recognized in his written work and then had conclusively reinforced the first time we sat down to chat in person several years ago in Sydney. After watching a recent Investment Committee meeting Daniel very kindly shared with me, I wanted to have him join me on the podcast...
Published 09/14/21
Joining Bill and Grant this time on The End Game is Harley Bassman of Simplify Asset Management. In a lively discussion, Harley slaps both Bill and Grant around with alacrity as he picks apart the connection between rates and inflation, the likely level of understanding at the Federal Reserve about the problems they’re creating, the importance of convexity (and the level to which it’s misunderstood) and what investors need to do to protect themselves. From term surfaces to the TIPs market,...
Published 09/06/21
This edition of The Grant Williams Podcast is a little different - delightfully so. My guest is Tim Grover, the CEO of Attack Athletics and the author of two phenomenal books Relentless and, most recently, W1nning. Tim will be familiar to any of you who were, like me, NBA geeks during the careers of both Michael Jordan and Kobe Bryant thanks to the work he did with both of those great champions - helping them build and strengthen not just their bodies to withstand the physical toll of a...
Published 08/23/21
In the financial market context, the word ‘liquidity’ is three very distinct things: overused, misunderstood and crucially important. In the latest edition of The End Game, CrossBorder Capital’s Michael Howell joins Bill and Grant to shed some light on those three key factors, explaining how he views liquidity, why it’s so crucial and what he’s observing in global liquidity flows at the present time as well as outlining the similarities between today and previous episodes where liquidity...
Published 08/08/21
The latest guest to grace The End Game is the familiar voice of Kyle Bass, Founder and Chief Investment officer of Hayman Capital Management in Dallas, TX. Kyle, Bill and Grant discuss Kyle’s thoughts on what The End Game may look like, with the recent outbreak of inflation likely to play a major part in the transition from the current financial system to whatever comes next. Kyle explains why he thinks time has run out for central banks, what he believes they’ll be forced to do and how...
Published 08/02/21
Our special guest on the latest edition of The End Game is Greg Jensen, the co-CIO of Bridgewater Associates, the $140billion asset manager based in Westport, Connecticut. Over his 25 year career at the firm, Greg has spent an inordinate amount of time using historical precedents to construct ever-more complex algorithms to help understand and predict evolving market dynamics. In this fascinating discussion, Greg digs deep into the current macro environment, explaining at length how...
Published 07/30/21
The Super Terrific Happy Hour returns with Steph Pomboy up a mountain in bear country contemplating all kinds of fascinating data points and dissecting them in her own inimitable way. The conversation is filled with F-bombs as Grant and Steph ponder a cornucopia of topics from fundamentals to ‘flations to the Fed, froth and flawlessness (or lack of it). Steph busts out some remarkable stats that will have you scratching your head as you watch markets look through the reality and embrace the...
Published 07/25/21
Recently, my journey of understanding has taken me into a few shady corners of the cryptocurrrency universe and this week, I make my last foray into that world (for the time being, at least) as I talk to David Dorr, co-Founder of Coro Global and Dorr Asset management and a man who gave me so much to think about in this enormously engaging conversation. David explains why the way in which the U.S. correspondent banking system works is perhaps the most underestimated facet of the crypto space,...
Published 07/19/21
My recent foray into the world of the stablecoin tether and the companies and personalities surrounding it has been utterly fascinating. I’ve seen many curious things during my career but the seemingly blatant nature of what certainly seems, at face value, like a gigantic fraud, has astonished me. In the recent June edition of Things That Make You Go Hmmm..., I dove into Tether (the company), Bitfinex and tether (the coin) and what I found blew my mind. Much of my research was built upon...
Published 07/11/21
My guest this week is the founder of Calderwood Capital, the author of Popular Delusions and my friend, Dylan Grice. Dylan’s ability to not only think about the financial world in unconventional ways, but to communicate those thoughts clearly and effectively has placed his writing in the very top echelon of the research world. Now, with the founding of Calderwood Capital, Dylan has an investment vehicle through which he can take advantage of his unique, idiosyncratic ideas. In this...
Published 07/08/21
My guest in the latest episode of The Grant Williams Podcast is someone I’ve been dying to interview for a very long time – the wonderful Liz Ann Sonders, Chief Investment Strategist at Charles Schwab. My anticipation was rewarded with what turned out to be one of my favourite conversations to date as Liz Ann talked about her formative years working for the late, great Marty Zweig, the seismic changes she’s seen in the investment industry during her two decades with US Trust and Schwab and...
Published 06/21/21
Dan Oliver, the founder of Myrmikan Capital and author of the upcoming book, Golden Tears: A History of Credit Bubbles, joins Bill and Grant for an absolutely spellbinding conversation about, well, the history of credit bubbles. Using John Law and The Mississippi Bubble as a backdrop, Dan lays out the eerily familiar path taken centuries ago by France as it tried to extend the seeming prosperity enjoyed by its citizens in the wake of a switch to fiat currency and highlights the problems...
Published 06/15/21
Founder of The Bullion Reserve, Simon Mikhailovich joins Bill and Grant for the latest episode of The End Game to discuss the idea of a failed state being a potentially unexpected resolution to the current financial and geopolitical turbulence enveloping the world. Drawing on his formative experiences in the Soviet Union and his family’s subsequent expatriation to the United States, Simon explains how the collapse of an empire felt for those living under its umbrella, the parallels he sees...
Published 06/11/21
Otavio ‘Tavi’ Costa is the latest guest to grace The Grant Williams Podcast and he brings with him a wealth of knowledge and experience – earned from both from his personal background and his professional journey. Beginning with his childhood in Brazil, Tavi shares the events in his personal life which shaped his worldview and recounts the lessons he learned as his family’s business struggled to mitigate the effects of globalization and the perils of leverage. From there, Tavi shares his...
Published 05/28/21
In this episode of The Grant Williams Podcast, I’m joined by a dear friend and a man who has, in many ways, inspired my own journey down the podcast rabbit hole – Demetri Kofinas, the host of the always-excellent Hidden Forces podcast. For some time, I’ve been wanting to chat to Demetri about a concept he laid out for me in a conversation dating back to January 2020 when I appeared as a guest on his show – financial nihilism. In the intervening months, that concept has continuously...
Published 05/25/21
Geopolitical strategist and best-selling author, Peter Zeihan joins The End Game for a fun-filled, action-packed journey around the world to examine the existing political world order, the cracks appearing within it and the likely motivations and paths ahead of the main players. From the rising tensions between China and the U.S. to the reality of Xi Jinping’s plans for Taiwan and the potential spillover into Asia and beyond, Peter lays out a narrative far from that commonly-accepted by...
Published 05/17/21
Joining Stephanie and Grant for episode 11 of The Super Terrific Happy Hour is Tony Greer of TG Macro. Beginning with Tony’s days at the storied commodity trading house, J. Aron, he walks us through his experience of both trading a previous tech bubble (and the questionable decisions it prompted), a resurgent commodity complex (and the regrets it fostered) and the invaluable lessons he learned from both. From there, Tony walks us through his current thoughts on the red-hot commodities...
Published 05/09/21
The 20th guest to grace The End Game is Josh Wolfe, the co-founder and managing partner of Lux Capital. In a deeply-fascinating conversation, Josh offers his thoughts on technology’s potential role in The End Game and explains the importance of carefully-constructed narratives in today’s financial markets. The SPAC phenomenon, the importance of volatility and the most recent Tesla results all come under Josh’s watchful eye, as do cryptocurrencies, the problems faced by pension funds starved...
Published 05/07/21
Roger Mitchell of Albachiara SAGL is Grant’s guest for the eighth episode of The Grant Williams Podcast. With the recent shambolic failure of the European Super League as a backdrop, the two discuss the escalating involvement of ‘big finance’ in the world of sport and Roger explains why American private equity money has found (and will continue to find) opportunity amidst ‘beautiful chaos’. From salary caps to super leagues, from NFTs to AI and machine-learning, the world of sport is...
Published 05/01/21
Chris Bloomstran recently questioned Ark Investment’s open-sourced research model on Twitter which resulted in him engaging with Ark analyst Brett Winton in a very public forum about a certain electric car company. For anyone who witnessed the exchange, it spoke volumes about the difference between what passes for analysis today and the kind of rigour displayed by those who have honed their craft in times of far more scrutiny. Chris and Grant discuss that exchange, the company in question,...
Published 04/26/21
Bill and Grant welcome Gerard Minack of Minack Advisors in Sydney to The End Game to discuss certain 'issues' Gerard took with some of the points made by previous guests in the series. Gerard concurs about the importance of the inflation vs. deflation debate, but has a few important, idiosyncratic ideas of his own to include in the discussion. What follows is yet another thought-provoking conversation guaranteed to have you reconsidering much you already thought to be true. If Gerard is...
Published 04/11/21
Luke Gromen is a good friend and a master at joining seemingly obscure dots into a narrative that helps explain the bigger macro picture. Over the years his work has helped me piece together complex strategic and geopolitical narratives that have helped inform my views on precious metals, oil, currencies and capital flows. In this conversation, we discuss the book 1931: debt, crisis and the rise of Hitler and try to better understand historical parallels that echo loudly in the...
Published 04/08/21