Too much to listen and too little time...
My rating: ★★★☆☆ (3/5)
- 4:49 – Host’s comments on Netflix.
- 8:55 – Host’s comments on GDXJ ETF and the problem when indexed products get too big.
- 11:34 -- Host’s comments on being Long in Treasuries.
- 15:09 – Kyle Bass asks John Burbank about Position Sizing.
- 17:47 -- John Burbank’s answer on Position Sizing.
- 19:59 – “Being diversified can be a real benefit… when thing don’t share common characteristics the move in different ways… a lot of investing now with short duration capital is the art of holding positions.”
- 20:49 –The real money is made with things that have never happened.
- 22:22 – When you are investing in something that is not a regression to the mean there is a lot of uncertainty and price is not the proper discounting mechanism of this Thing, it’s merely a reflection of current liquidity.
- 22:55 – If you have a lot of the same bets then you’re increasing your risk dramatically if you have short duration capital, no matter how right you are.
- 25:49 – What you’re looking for is the shifts and is the change of probabilities where all the money is being made.
- 31:05 – GDP growth is overrated.
- 33:26 – Burbank fully invested and fully hedged.
- 39:20 – Anything that is leading change or causing it, is where I take my risk.
- 40:30 – The world has to change from one kind of growth to another… A lot of the Change is really about a displacement of something that is meaningful in the economy for something that is more efficient.
- 41:25 Barriers of competition are going to keep coming down in the world.
- 42:10 – American companies are going to more market share than you think because we change more and earlier.
- 46:11 – Time horizon. If your time horizon is 10 years then you can’t worry about what happens over 2 years.
- 46:41 – How does the retail investor internalize what great investors say? It’s not about trading positions, but about how they think.
- 49:30 – Author of Global Macro Edge, John Netto, speaks about his background and about an investing mistake.
- 55:28 – About his process and contingency plan.
A great post about this: http://awealthofcommonsense.com/2017/04/when-an-etf-changes-its-stripes/