Financial Repression Explained
What is Financial Repression and why it matters?
Frank and Steve explain financial repression - what it is, why it matters, and what this policy ultimately means for investors longer-term.
Rich Bank, Poor Bank
Implications of Recent Bank Runs
Fielder's Steve Korn and Frank Byrd share observations on what is happening as a result of the recent bank run on Silicon Valley Bank and others. Be sure to listen to end where Frank emphasizes the importance for financial/investment advisers to be independent of their custodians (rather than employed by a custodian).
China's Problem - Ours Too?
An Interview with Carl Walter
Fielder visits with Carl Walter, the noted author of Red Capitalism, about his new book, The Red Dream. Carl highlights the risk that China’s extreme leverage, combined with its shrinking population, poses for its banking system – and also for the system as a whole.
Inflation in 7 Pictures
Why Inflation Is Happening & How Investors Should Position
Sharing 7 pictures in 7 minutes, Frank Byrd describes what Fielder believes matters most with inflation and how investors should position accordingly.
New Year, New Positioning
How We're Positioning for 2021 and Beyond
As Fielder looks to the future, we want to fortify our client portfolios and our operations to best navigate a fast-changing world. This 4-minute video outlines our thoughts on both fronts.
What We're Seeing & Thinking
How COVID affects our longer-term outlook
What does the COVID crisis mean for investors? Perhaps more importantly, how does Washington's evolving policy response affect our outlook? Frank Byrd and Steve Korn discuss these topics.
2 Choices, 1 Hope
Escaping the Debt Trap Without Chewing off a Leg
US government debt now equates to ~$240,000 per American household. That’s bigger than the average mortgage balance. Steve and Frank discuss the only two policy choices that they believe Washington realistically has. They then discuss a third “Hail Mary” path that we can hope for.
Low Odds, High Odds
Lecture to Georgetown students
Frank Byrd presents a lecture at Georgetown to a class of finance students. Stock price returns, he explains, are basically a crap shoot. No one should base their financial plan on stock price returns. Odds are they will fail. Frank explains how investors can tilt the odds in their favor.
The Secret about Inflation
How the Debt Trap Forces Washington's Hand
Steve and Frank discuss why policymakers actually want - and need - inflation. They are purposefully crushing our economy near term to get inflation under control before the fall elections. Thereafter, we expect a reversion to the prior playbook: How investors should position for Washington's longer-term policy objective of inflation in order to get out of its debt trap.
Compounding in Great Businesses
A fireside chat with Len Yiow of Aravt Global
Fielder interviews Yen Liow of hedge fund Aravt Global. Yen has made a science of searching for “compounders” – durable growth businesses in strong market structures led by exceptional leaders. Yen shares what he’s learned over the years - namely, why and how he focuses on buying and holding compounders.
Throw Out the Old Playbook
It's a New Game. Time for a New Game Plan
COVID has accelerated the change already underway in Federal Reserve and government policy. This has driven markets higher, yet introduces more risk into the system. Fielder Capital's Frank Byrd and Steve Korn explain why investors need to adapt their strategies for a very different environment.
Et Tu, Buffett?
Is alpha dead?
Why is Warren Buffett, the world’s greatest active investor, telling the public to forego active funds in favor of passive index funds? Frank explains to students at Columbia Business School how they should interpret Buffett’s remarks. Should they give up their aspirations of being active managers? Frank also shares how enterprising entrepreneurs can capitalize on the zeitgeist of these passive times. A transcript of this speech is available upon request HERE.
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