Top podcasts of the (past two, sorry forgot to hit send) week!
1. DoubleLine – The Sherman Show: Dr. Shiller, Sterling Prof on Econ
Dr. Shiller discusses key issues he sees coming in 2019, the CAPE ratio and current U.S. market valuation, his new book and the renewed contagion of the great depression during the GFC, sentiment, the narrative around the Fed, and where he thinks we are in the economic cycle.
2. We Study Billionaires: TIP228: Jonathan Tepper – Investing in Bear Markets
Jonathan Tepper discusses factors that indicate the start of a bear market, reflexivity, and the difference between drawdowns in recessionary states vs. non-recessionary states. He then talks about what he saw when he was shorting subprime prior to the GFC.
3. Capital Allocators: Chris Ailman – CalSTRS’ Venerable CIO
Chris Ailman is the CIO of the $220 billion pool for California State Teachers’ Retirement System (CalSTRS). Chris discusses the looming pension crisis in America and how it is expensive due to longevity, educating the beneficiaries of CalSTRS, discussing the investment process with his board, 4 strategies they rely on right now to mitigate large drawdowns, doing some of the investment work in-house, the viability of private equity investing in institutional portfolios, and the influence CalSTRS has with its size.
4. Masters in Business: Vanguard’s Joe Davis Discusses Global Economics
Joe Davis, global chief economist discusses slow productivity growth in the U.S., the recent pickup in Vanguard’s Ideas Multiplier indicator, a measure of innovation in the economy, China and trade, and recent valuations.
POTPOURRI (NON INVESTMENT RELATED)
1. HOW I BUILT THIS WITH GUY RAZ: JetBlue Airways: David Neeleman2. It Seemed Smart: How to Plan to Break the Law in 20 States at Once