Jesse Felder: Capital Flight Causing Mag 7, Nvidia & AI Bubble? DC Spending Causing Worse Inflation?

Wall St. For Main St., Released on 2/29/24

During this very in depth hour plus long interview Jesse compares his past experiences as a hedge fund manager during the 1999-2000 technology bubble back then to the one now with Nvidia, SMCI, ARM, AI stocks and Mag 7. Jesse talks about flight capital from China and how it is paying a ~30% premium to NAV on closed end funds to have exposure to large cap US tech stocks in the Mag 7. Jason asks Jesse about how hedge fund managers like Stanley Druckenmiller are taking profits on Nvidia and looking to rotate profits into cheaper assets and industries trying to repeat the cycle of buying low and selling high. Jesse says that Druckenmiller and Warren Buffett are buying oil companies, base metal or coal miners and gold mining stocks as those companies are cheap on valuation metrics and there is actually net insider buying. Jesse talks about how DC spending and the budget deficits are very inflationary and that deflation for very long periods is unlikely given that US tax receipts would collapse and the lack of investment on the supply side in key metals and energy commodities means higher prices over the next few years.

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Jesse Felder is a former hedge fund manager and founder of The Felder Report.

Jason Burack is an investor, entrepreneur, financial historian, Austrian School economist, and contrarian. Jason co-founded the startup financial education company Wall St for Main St, LLC, to try to help the people of Main Street by teaching them the knowledge, skills, research methods, and investing expertise of Wall Street. You can also find Jason’s work at his blog website at

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