Juggling Dynamite

Legendary hedge fund manager Stanley Druckenmiller speaking on why he thinks current Fed policy “makes no sense” and the Fed is once more making judgment errors that prescient risk managers can set up to profit from again the way a few of us did in 2008.

With an investment industry that likes to bank on Fed policies, billionaire Druckenmiller points out that he has made the largest outsized returns in his career by making his own macro assessments and then betting against the Fed where he believed they were making policy errors. Here is a direct video link.

Here is part 2 of his speech.

Doubleline Capital’s Jeff Gundlach in a wide-ranging hour long interview that begins with how he stumbled into the bond manager business 30 years ago, followed by an overview discussion on the demographics and debt driving global deflationary trends today. He also explains why he is excited about the innovation of Tesla, and why he believes Boomers will need to sell their real estate to free up cash for retirement and how this is likely to impact realty prices.

He ends with some useful comments on the failure of conventional investment management firms to deliver lasting, long term benefits for their customers.  To add value, asset managers must think unconventionally, and be comfortable outside the limited thinking of the herd.

Here is a direct audio link to the interview.

Still officially sanctioned and tolerated by regulators and law makers, HFT gets more and more brazen.

Bloomberg’s Jesse Westbrook reports on the purchase of NATO microwave towers by high-frequency traders. Here is a direct video link.

Sure this all seems perfectly fair, legal and transparent for public markets… “Might be trading ahead of others”??? Gee, ya think?