Gold & Unstoppable Fiat Debasement with Dominic Frisby & Tim Price
What’s happening to gold? Is the so-called debasement trade over? Have we just seen another FOMO driven momentum bubble hit a blowout top?Is that it for another decade? Of course, a bubble is a bull market that we are not involved in, and from the outside, the recent frenzy over gold is just another case of market hysteria, right? Conspiracy theories like the dollar debasement are just, well, conspiracy theories, right? This week I invited two long standing and respected sound money advocates to share their thoughts on gold, where it came from, where it might be heading and why. We had a great chat. Dominic Frisby has recently published his latest book, The Secret History of Gold: Myth, Money, Politics & Power and is also the man behind the excellent Flying Frisby Substack … Wealth manager Tim Price of Price Value Partners is also the author of Investing Through the Looking Glass, a rational guide to irrational financial markets. We discussed why gold is valuable, why the gold price has recently been so strong and how investors should think about gold as an investment asset class in a world of government deficits, spiralling debt and uncertain geopoliticsBut as ever, none of what you are about to hear is any kind of advice; hopefully, it is informative and entertaining. Please take professional advice before investing a penny in these crazy markets. And with that, please enjoy my conversation with Dominic Frisby and Tim Price Brought to you by Progressive Equity
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COMING SOON - Gold & Unstoppable Fiat Debasement with Dominic Frisby & Tim Price
Earlier this week, I chatted with Dominic Frisby of the Flying Frisby and Tim Price of Price Value Partners to talk about gold and related issues. I asked them: Is the fiat debasement inevitable? Should we be buying the dip in precious metals prices? And much, much more ....Don't miss it. Make sure you are subscribed, dropping soon on all good podcast apps. Brought to you by Progressive Equity
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Europe's Crisis of Competence with Doomberg & The Brawl Street Journal
Two of my favourite Substackers, Doomberg and The Brawl Street Journal, have recently written about the future of Europe and its predicament in a rapidly changing world. And from their differing perspectives, they both agreed that it is not good. So, earlier this week I brought them together to share their views, one from the perspective of an experienced trade dispute lawyer and former policymaker in Berlin, the other a straight talking energy analyst and green chicken from his coop in mid-western American flyover country. We discussed the factors that have led Europe to its current position, its role in a multipolar world, and its struggles to adapt to these new, urgent realities. I must warn you that the consequences they draw are not positive for Europe or its institutions, and they pull no punches in their delivery. In short, they agree that the consequences of current established European policies will likely lead to a collapse of the EU; a consequence of the delusion, incompetence and intransigence of its established political class. But as always, nothing you are about to hear is any kind of advice, but solely for your information and hopefully entertainment. I began by asking each of them about the origins of the EU and how Europe got itself into the position it finds itself today. Please enjoy my conversation with Doomberg and Brawlster. Brought to you by Progressive Equity
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COMING SOON - The Future of Europe with Doomberg & The Brawl Street Journal
Doomberg and The Brawl Street Journal have published pieces recently about the economic, political and financial predicament of Europe and the EU in our rapidly changing geopolitical landscape. Both argue that it doesn't look good. So, earlier this week, I brought them together to share their views. We discussed how we got here, the main factors, and how Europe is positioned in the emerging multipolar world order. I must warn you, they don't hold any punches. Full episode coming soon, please subscribe. Brought to you by Progressive Equity.
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Investing in Quality Compounders with Simon Young & Mark Wharrier
Have you ever wondered why some equities earn the special designation of quality compounder? It sounds easy when you read about Charlie Munger or Nick Sleep buying Costco and holding it forever. But everyone now knows the Costco story and how great it is. We can buy that great business, but we risk paying the wrong price. So, what enables such businesses to compound? How can we identify their critical characteristics to improve our odds of buying them at a fair or even low valuation? I recently had the chance to speak with two high-calibre professional investors who are passionate about doing just this and who spend their time searching the UK market for precisely these situations. These two highly experienced UK equity specialists started their careers in the 1990s at what was Mercury Asset Management and is today BlackRock. Simon Young, among other things, writes The Curious Compounder Substack, and Mark Wharrier has a varied portfolio, including co-hosting the excellent Business Case podcast and is a colleague of mine on the investment committee at Onward Opportunities Ltd.In this episode, we discuss Wise and Goodwin as examples of how very different businesses can compound growth. They share key characteristics, such as high return on capital, growth capacity and duration. Very often, these businesses are founder-led or family-owned, allowing them to pivot when circumstances change and take a considered long-term view about investing. We also discuss acquisitional compound growth typified by UK-listed Halma and Diploma, or North American-listed Constellation Software. These companies derive their compounding from making serial acquisitions funded from internally generated cash flows. Finally, we discuss those companies that might earn the serial compounder tag in the years to come.But of course, as always, none of what you are about to hear is any type of advice, but just for your information and hopefully entertainment. Please take personal financial advice before investing your money in these crazy markets. With that said, please enjoy my conversation with Mark Wharrier and Simon Young. Brought to you by Progressive Equity.
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