I look forward to the interview! And I hope you keep recording and releasing the podcast. The first time I learned of you was from that brilliant RV interview you did with Grant Williams. Back when RV still had production values and wasn't all Zoom calls.
I watched that entire interview in one take and at the end I thought, damn. David Hay is a thinker. Dogma is one of the greatest foibles that I see in investors. I often get the sense that a given person would be unwilling to change their mind when presented with evidence. We have our views, our beliefs, and we hold onto them like helicopter parents.
I get the sense that you're not like that, and you adjust as the facts change. So I really look forward to the podcast. I hope you interview Mike Green at some point, that could be truly epic.
100%. I watch everything he appears on, even if I already know most of it. I think I've learned more from Mike Green than any other investor in the world. His thinking is next level.
I also watching all of David Hay's interviews! He's just much less prolific than Mike
I know a lot of the best thinkers out there are on a different level than I am, but Mike Green might be on a level of his own. I would tune in to listen to that guy discuss nursery rhymes.
I gotta say man, it's pretty cool to meet a like-minded individual. I also think Mike Green is his own level. A fascinating human, I'm so happy that he elects to do so many interviews. I hope he writes a book one day. I think he said he's writing one about the Volker myth in the 70s? Although he only mentioned that once.
I remember that mention. He essentially said that Volker had demographics (lots of boomer employees) and globalization (cheap Chinese labor flocking to cities) to help make his efforts successful. The main reason I am not confident the Fed can tame inflation now is because those two trends have reversed. It's covered very well in a great book called The Great Demographic Reversal by Charles Goodheart. Peter Zeihan's new book touches on it as well. If Mike does release that book, there is roughly a 100 percent chance I will read it. No idea in finance has made me think more than the points he made about how passive investing is distorting the markets.
Yeah I would read it as well. I've already read Zeihan's book naturally. A banger for sure. Is the Demographic Reversal worth reading? I feel like I have a good gist of the demographic problem anyways.
That's funny, we've listened to Mike talk about the 70s but we've taken away two different ideas. You mention the solution, while I've primarily remember Mike talking about the cause. Huge expansion of people entering the labor force, big increase in demand for products, etc. Also, flawed measurement of the CPI where it was looking at mortgage rates but snake eating its own tail because everytime they hiked, rates went up, mortgage rates went up, CPI counted it as inflation.
I've been thinking about passive recently too. Staring that bear market rally in the face I was thinking, what's going on here? And often questioned whether passive buying was driving up prices.
I look forward to the interview! And I hope you keep recording and releasing the podcast. The first time I learned of you was from that brilliant RV interview you did with Grant Williams. Back when RV still had production values and wasn't all Zoom calls.
I watched that entire interview in one take and at the end I thought, damn. David Hay is a thinker. Dogma is one of the greatest foibles that I see in investors. I often get the sense that a given person would be unwilling to change their mind when presented with evidence. We have our views, our beliefs, and we hold onto them like helicopter parents.
I get the sense that you're not like that, and you adjust as the facts change. So I really look forward to the podcast. I hope you interview Mike Green at some point, that could be truly epic.
Could not agree more on the Mike Green suggestion. I listen to any podcast that has him as a guest.
100%. I watch everything he appears on, even if I already know most of it. I think I've learned more from Mike Green than any other investor in the world. His thinking is next level.
I also watching all of David Hay's interviews! He's just much less prolific than Mike
I know a lot of the best thinkers out there are on a different level than I am, but Mike Green might be on a level of his own. I would tune in to listen to that guy discuss nursery rhymes.
I gotta say man, it's pretty cool to meet a like-minded individual. I also think Mike Green is his own level. A fascinating human, I'm so happy that he elects to do so many interviews. I hope he writes a book one day. I think he said he's writing one about the Volker myth in the 70s? Although he only mentioned that once.
I remember that mention. He essentially said that Volker had demographics (lots of boomer employees) and globalization (cheap Chinese labor flocking to cities) to help make his efforts successful. The main reason I am not confident the Fed can tame inflation now is because those two trends have reversed. It's covered very well in a great book called The Great Demographic Reversal by Charles Goodheart. Peter Zeihan's new book touches on it as well. If Mike does release that book, there is roughly a 100 percent chance I will read it. No idea in finance has made me think more than the points he made about how passive investing is distorting the markets.
Yeah I would read it as well. I've already read Zeihan's book naturally. A banger for sure. Is the Demographic Reversal worth reading? I feel like I have a good gist of the demographic problem anyways.
That's funny, we've listened to Mike talk about the 70s but we've taken away two different ideas. You mention the solution, while I've primarily remember Mike talking about the cause. Huge expansion of people entering the labor force, big increase in demand for products, etc. Also, flawed measurement of the CPI where it was looking at mortgage rates but snake eating its own tail because everytime they hiked, rates went up, mortgage rates went up, CPI counted it as inflation.
I've been thinking about passive recently too. Staring that bear market rally in the face I was thinking, what's going on here? And often questioned whether passive buying was driving up prices.