Bill Fleckenstein, Grant Williams, and Russell Napier: The End Game
*This podcast was recorded on August 2, 2020
Bill and Grant welcome Russell Napier to The End Game to discuss the reasons behind the long-term disinflationist's recent decision to step off that train and prepare for the return of inflation. Using examples from the 1690s, 1930s and 1970s, Russell makes the case for inflation in the United States hitting 4% before the end of the year and explains why recent moves by the U.S. government to circumvent the Federal Reserve have changed the game dramatically and, potentially, bring The End Game much closer. Russell offers a primer on real financial repression and explains how dangerously different the world may look in the not-too-distant future.
Professor Russell Napier is author of The Solid Ground investment report for institutional investors and co-founder of the investment research portal ERIC-a business he now co-owns with D.C. Thomson. Russell has worked in the investment business for 30 years and has been advising global institutional investors on asset allocation since 1995. He also is the author of the book Anatomy of The Bear: Lessons From Wall Street's Four Great Bottoms ('a cult classic' according to the FT) and he is founder and course director of The Practical History of Financial Markets course that is part of the Edinburgh Business School MBA. Russell is a director of the Mid Wynd International Investment Trust. He is a member of the investment advisory committees of two fund management companies, Cerno Capital and Kennox Asset Management.
Grant Williams is the portfolio manager of the Vulpes Precious Metals Fund and strategy advisor to Vulpes Investment Management in Singapore. Grant has 28 years of experience in finance on the Asian, Australian, European and US markets and has held senior positions at several international investment houses, including Robert Fleming, UBS and Credit Suisse. Since 2009, he has also been writing the popular investment newsletter Things That Make You Go Hmmm...
Bill Fleckenstein is the President of Fleckenstein Capital and writes a popular column 'Contrarian Chronicles' for MSN Money as well as the daily Market Rap column for his website: Fleckenstein Capital. Bill has appeared at one time or another in virtually all financial media including Bloomberg, CNBC, The New York Times, MSN, Marketwatch, Barron's and more. Bill is a highly sought after speaker, successful author of Greenspan's Bubbles: The Age of Ignorance at the Federal Reserve