WTFinance, Released on 5/31/23

On todays episode of the WTFinance podcast I have the pleasure of hosting Adrian Day, Chairman & Chief Executive Officer of Adrian Day Asset Management. During our conversation we spoke about key economic drivers Adrian is watching, why this will lead to a ‘serious recession’, how counterparty risk will be the main driver and why gold and gold stocks could be a great beneficiary of such an event. I hope you enjoy!

0:00 – Introduction
1:30 – Key drivers Adrian is currently watching?
4:20 – What is currently happening with the US consumer?
8:55 – Collapse in consumption?
9:55 – Will this impact the FED’s actions?
14:45 – Double/triple counting employed or job openings
17:00 – How bad will the recession be?
20:55 – Counterparty risk?
21:45 – Treasury bill issuance to impact prices?
24:55 – Why is there a disconnect between markets and the economy?
28:10 – The risk of an earnings recession?
30:25 – What assets to perform during a recession?
36:15 – What does Adrian look for before investing in a company?
37:40 – Is gold undervalued?
42:40 – One message to take away from our conversation?

Adrian Day is the president of Adrian Day Asset Management. Mr. Day spent many years as a financial investment writer, where he gained a large following for his expertise in searching out unusual investment opportunities around the world. He has also authored two books on the subject of global investing: International Investment Opportunities: How and Where to Invest Overseas Successfully and Investing Without Borders. His latest book, widely praised by readers, is Investing in Resources: How to Profit from the Outsized Potential and Avoid the Risks (Wiley, 2010). Mr. Day is a recognized authority in both global and resource investing. He is frequently interviewed by the press, domestically and abroad. He is a popular speaker and frequently invited to lecture at financial conferences and seminars around the world. His pleasures include fine dining, reading (especially history), and the opera.