Ben Hunt of Epsilon Theory on Turning Layups into Losses, UK Pension Problems, Building Community & Much More (EP.225)


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My good friend Ben Hunt is here for the fourth time on Panic with Friends. He’s my go-to macro guy, and one of the smartest people to talk about the market with. And if I were going to do a show with any two people, like the All In podcast, it’d be Ben and Jim O’Shaughnessy for sure.

Ben has been dead on with so many topics, and we’ve got a ton of topics to talk about in this episode. I wanted to talk about the FED, inflation, and what would turn him bullish. I wanted to get some pointers on the global macro and the SPAC market, to include thoughts on Fat Nixon. I wanted to talk about Robinhood and Citadel, and I want him to chime in on Apple having a monopoly.

I also wanted to get Ben’s thoughts about monetary policy as it relates to the UK pension debacle. I think you're going to get a lot out of our conversation. Enjoy!

Guest - Ben Hunt, Co-Founder and Partner at Second Foundation Partners, Author and Co-Founder at Epsilon Theory,

Twitter: @howardlindzon, @epsilontheory, @knutjensen

#fintech #invest #investment #venturecapital #stockmarket #finance

Show Notes:

  • Introduction (00:40)
  • Welcome Ben (06:40)
  • The best thing about getting older (10:17)
  • Turning a layup into a loss (12:40)
  • Lessons from Goodfellas (14:28)
  • Who’s in the PIPE? (18:49)
  • Finance raccoons (20:11)
  • UK pension crisis (22:53)
  • Interest rates repriced globally (23:33)
  • Pension funds can’t make margin calls (29:59)
  • FED creates liquidity crises (31:43)
  • Overexposed to 15 years of low rates (34:35)
  • What the blockchain brings (35:16)
  • Loosening the yoke of Amazon, Apple, Google (35:44)
  • Pension fund return projections (36:55)
  • Ferocious bull rally? (40:54)
  • Will the FED pivot? (43:58)
  • Inflation wasn’t transitory (46:11)
  • Taking real world risks (50:36)
  • Taking on the overlords (57:18)
  • Wrapping up (1:02:12)
  • Closing thoughts (1:05:58)

275 episodes