Fat Tail Investment Research, Released on 9/16/21
For Part 2 of this interview, CLICK HERE
This time I had enough questions that would fill three weeks of replies! (For those that know Jim, he’s extremely generous with his answers.) This was also partly because the latest monthly was all about connecting the dots to create and understand the bigger picture at play. Usually, Jim’s issues take a deep dive on a range of topics that affect markets and your portfolio — economic growth, central bank policy, inflation, deflation, currencies, gold, stocks, bonds, demographics, geopolitics, and a lot more. But this month he did something different… He took two steps back, looking at all of these topics from a broader perspective. Instead of picking one and diving in, he took the major factors that drive markets and synthesised them into a big picture. It’s like when you go to the theatre to watch a play… A structural narrative forms the background and scenery that’s being performed by actors in the foreground. Most people focus on the actors. But it’s important not to forget about the scenery. That’s where the villains hide. As such, the format was a kind of Q&A…which made my job rather easy when talking to Jim — I could ask him to expand on many of these questions.
Jim Rickards is a lawyer, investment banker and economist with over thirty years’ experience in capital markets. He is currently Chief Global Strategist at Meraglim. He advises the Department of Defense, the U.S. intelligence community, and major hedge funds on global finance, and served as a facilitator of the first ever financial war games conducted by the Pentagon. A frequent guest on financial news programs, Rickards is also the author of The New York Times bestselling novels Currency Wars: The Making of the Next Global Crisis and The Death of Money. His latest book is The New Great Depression: Winners and Losers in a Post-Pandemic World.