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Episodes
Welcome to the Plutonomix Podcast, with Barnaby Levin. Some Perspectives on Wealth & Investing (generally) in 10 minutes or less. The word “Plutonomics” means the “Study of Wealth” and it is our Mission to educate; to help Clients think about their goals and how they might benefit from working with an Advisor to achieve them. But more importantly, it’s to make sure our listeners understand both the Pros and Cons of any issue so they can make Informed Decisions and increase the odds of finding the “right” answer, for them. You see, it’s not who’s “Right” or “Wrong” but, knowing there are NO “unbiased” opinions – and that “Where you Sit depends on where you Stand” – the challenge to making good Decisions is to start by questioning one’s Assumptions and breaking free of our “prejudices” because the truth usually lies somewhere in between. There are always two sides, both of which have merit.
Episodes
Wednesday Sep 13, 2023
Wednesday Sep 13, 2023
In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi discuss the insights shared by three, highly-regarded investors in an interview on Bloomberg's "Next Big Risk." They explore the potential conflicts between the U.S and China over Taiwan; the battle between the "Haves" and "Have Nots;" and the consequence of zero interest-rate policies and Quantitative Tightening on Market behavior. Laurie and Barnaby provide their own perspectives on these issues and emphasize the importance of understanding the deeper patterns at work in order to adapt to future events.
TIMESTAMPS
02:05 US-China conflict; Wealth Inequality; and Market sell-offs
03:35 Zero interest-rate policies; debt; and their impact on the Market
06:00 Historical context of China's perspective on Taiwan (and why it matters)
10:15 The Impact of younger generations on Social Change
11:40 "The Shadow our Past projects in Front of Us" and the importance of recognizing patterns
RESOURCES
- What I Think I Know by Barnaby Levin
- The Illusion of Knowledge by Howard Marks
- Closing Technique of the Week: The Ben Franklin Close
- CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton
- Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023
- Contact Barnaby
- Contact Laurie
Friday Jul 28, 2023
Friday Jul 28, 2023
In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi discuss the importance of speaking openly about money, emphasizing the need for couples to align their financial goals and have regular discussions on how best to get there, together. They highlight the significance of preparing for unexpected events, such as death or divorce, by sharing passwords and ensuring all financial information is readily accessible, in such an event. And they point out the benefits -- when families do speak openly -- it can provide through reduced stress; increased understanding; and, ultimately, greater happiness.
TIMESTAMPS
02:00 Raising resilient, self-reliant kids
03:45 The importance of open communication about money in relationships
04:50 "Begin with the End in Mind" when discussing finances
06:20 It's never too early or too late to develop good money habits
06:50 Preparing for unexpected events, like death or divorce
07:35 Keeping financial information safe, but available
RESOURCES
- What I Think I Know by Barnaby Levin
- The Illusion of Knowledge by Howard Marks
- Closing Technique of the Week: The Ben Franklin Close
- CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton
- Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023
- Contact Barnaby
- Contact Laurie
Tuesday Jul 25, 2023
Tuesday Jul 25, 2023
In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi discuss the recent, bipartisan passage of the Debt Ceiling under the leadership of Kevin McCarthy in the House. With the Fed finally deciding to Pause, they say this may allow us to avoid a Recession, with the caveat Treasury will now need to sell a trillion dollars of new debt to fund current spending, which may lead to an increase in rates as well. They also highlight the challenges faced by regional banks due to commercial loans coming due and the impact vacancies will have on Debtors ability to service their debt. Finally, they look back on a few of their more recent predictions, which have proven prescient.
TIMESTAMPS
01:25 The McCarthy Compromise
03:25 Pent up Demand
03:45 The Notion of Rolling Recessions
05:50 Dispersion Among the Pundits
06:40 The PEG Ratio: Focus on Price to Earnings Growth
08:25 A Stock Picker's Market
09:25 Ahead of the Curve with Some of Their Biggest Predictions
RESOURCES
- What I Think I Know by Barnaby Levin
- The Illusion of Knowledge by Howard Marks
- Closing Technique of the Week: The Ben Franklin Close
- CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton
- Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023
- Contact Barnaby
- Contact Laurie
Wednesday May 24, 2023
Wednesday May 24, 2023
In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi -- after a brief discussion about the Debt Ceiling -- offer investment tips for navigating a potential Recession. They suggest raising Cash and allocating some part of that to short-term Treasuries while, from a longer-term perspective, they consider everything from Distressed and Floating-Rate debt; to Small-Cap stocks; and (for those with a contrarian bent) Commercial Real Estate. However, when it does come to Small Cap at this point of the economic cycle, they stress the importance of diversification, as there will be "blow-ups."
TIMESTAMPS
[01:50] The Bond Market is betting on Recession
[03:20] Giving Voice to the Minority
[05:00] A true Balanced Budget Amendment
[06:00] The notion of a "Rolling" Recession
[08:45] Start by Building a Reserve
{11:00] From Affordable Housing and Healthcare to Small-Business Lending
RESOURCES
- What I Think I Know by Barnaby Levin
- The Illusion of Knowledge by Howard Marks
- Closing Technique of the Week: The Ben Franklin Close
- CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton
- Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023
- Contact Barnaby
- Contact Laurie
Saturday May 13, 2023
Saturday May 13, 2023
In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi examine the lessons they hope we've learned from the Fall of Silicon Valley Bank -- the need for new limits and greater transparency; who's really to blame; and the consequences those responsible may (in their opinion) merit. They also explore some of the alternatives available to investors looking for higher yield and Preservation of Capital, while explaining the pros and cons of each. .
TIMESTAMPS
[1:24] It wasn’t Any One Thing. But Whose Money is it Anyway!
[3:11] Speaking of First Republic
[4:38] Protecting your Deposits
[6:32] Should we Stick With (or Short) the Dollar?
[6:58] Stick with The Dollar?
[8:47] Like Stan says
RESOURCES
- What I Think I Know by Barnaby Levin
- The Illusion of Knowledge by Howard Marks
- Closing Technique of the Week: The Ben Franklin Close
- CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton
- Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023
- Contact Barnaby
- Contact Laurie
Tuesday May 09, 2023
Tuesday May 09, 2023
In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi focus on the fall of Silicon Valley Bank and its impact on the industry. They discuss the factors leading to the Bank's demise, starting with poor judgement on the part of Leadership when investing Clients' On Demand Deposits. Barnaby and Laurie then explain how this and the failure of the Bank's Auditors has compromised trust -- in the Industry and the Federal Reserve -- and (hopefully) a few lessons we've all learned from it all.
TIMESTAMPS
[01:41] Credit Suisse and The Fall of Silicon Valley Bank
[04:03] When Things Started to go Wrong - and Who was to Blame
[12:04] FDIC Insurance and the Bank Deposit Program
[14:37] The Role of the Federal Reserve in Maintaining Financial Stability
[16:19] Dealing with the Financial Turmoil by taking a Pause and Raising the Limit
RESOURCES
- What I Think I Know by Barnaby Levin
- The Illusion of Knowledge by Howard Marks
- Closing Technique of the Week: The Ben Franklin Close
- CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton
- Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023
- Contact Barnaby
- Contact Laurie
Tuesday Mar 14, 2023
Tuesday Mar 14, 2023
In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi talk about the Power of Compounding and how to maximize your savings with very little effort. "Compounding" can either refer to earning interest on your interest (by reinvesting what you earn at the same or higher rate) or by "letting your Winners Run." Either way, they show how it can have a "Snowball Effect," where small actions -- taken consistently -- can lead to big results, creating financial resilience through disciplined and deliberate planning.
TIMESTAMPS
01:15 Asset Allocation and Investment Strategy
01:33 The Eighth Wonder of the World
02:11 The Rule of 72
05:12 The Pareto Principle
09:59 Perks in the Tax Code
RESOURCES
- What I Think I Know by Barnaby Levin
- The Illusion of Knowledge by Howard Marks
- Closing Technique of the Week: The Ben Franklin Close
- CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton
- Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023
- Contact Barnaby
- Contact Laurie
Friday Feb 24, 2023
Friday Feb 24, 2023
In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi discuss Asset Allocation (the process of balancing a portfolio's potential for Risk versus Reward) by adjusting the percent invested in each asset or asset class according to a person's Goals; Timeline; and tolerance for Volatility. They emphasize the need to have tempered expectations -- while allowing time for the power of compounding to work its "magic" -- and to proactively maximize savings by investing consistently, through the Market's ups and downs.
TIMESTAMPS
1:06 What is Asset Allocation
3:08 Investing to achieve Long-Term Goals
6:31 Concentration, Focus and the Power of Compounding
9:27 Valuation and Investment Strategies in a Low-Interest Rate Environment
RESOURCES
- What I Think I Know by Barnaby Levin
- The Illusion of Knowledge by Howard Marks
- Closing Technique of the Week: The Ben Franklin Close
- CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton
- Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023
- Contact Barnaby
- Contact Laurie
Monday Feb 20, 2023
Monday Feb 20, 2023
In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi delve into the world of "Non Fungible Tokens" (or "NFTs") with Jake Spinowitz, Head of Community at Courtyard IO. They explain "Smart Contracts;" share thoughts on why NFTs were initially created (and, perhaps, who they benefit most); and what the primary differences between the three categories of Open Marketplaces are. They also discuss the very real risks of investing in NFTs (including volatility in price and value), which add another layer of risk on top of the Crypto Currencies, in which they're denominated, themselves.
TIMESTAMPS
[1:02] Introduction to Jake Spinowitz, Head of Community at Courtyard IO
[2:27] What is an NFT?
[3:13] The value of Non-Fungible Tokens
[7:10] NFT marketplaces and giving artists more control
[9:23] Using technology as proof of ownership and identity
RESOURCES
- What I Think I Know by Barnaby Levin
- The Illusion of Knowledge by Howard Marks
- Closing Technique of the Week: The Ben Franklin Close
- CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton
- Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023
- Contact Barnaby
- Contact Laurie
Friday Feb 03, 2023
Friday Feb 03, 2023
In this week’s episode of the Plutonomix Podcast, Barnaby Levin and Laurie Kamhi continue their conversation on “Risk & Reward,” discussing (again) the importance of understanding what risk means for you. They suggest, when it comes to defining "Risk," how it might be better to think in terms of "Acceptable" versus "Un-Acceptable" and, given the current market environment, share some thoughts where and how to invest.
TIMESTAMPS
- [01:43] Understanding risk and the misleading nature of "Beta" and "Standard Deviation"
- [05:29] Assessing risk in the global economy
- [08:41] Exploring investment opportunities in a low-interest rate environment
- [10:34] Bond market yields and forming good financial habits
- [12:11] Investment strategies for financial security
RESOURCES
- What I Think I Know by Barnaby Levin
- The Illusion of Knowledge by Howard Marks
- Closing Technique of the Week: The Ben Franklin Close
- CNBC: The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton
- Stanley Druckenmiller says he'd be 'stunned' if a recession doesn't happen in 2023
- Contact Barnaby
- Contact Laurie