About Erik Townsend

hedge fund manager Erik Townsend

Erik Townsend is a retired software entrepreneur turned hedge fund manager. Throughout his career, Erik has capitalized on his ability to understand complex systems and anticipate paradigm shifts far in advance of the mainstream. Read More...

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Mark Grant Erik Townsend welcomes Mark Grant to MacroVoices. Erik and Mark discuss:

  • Outlook for the US Dollar and Euro
  • Where are the US equity markets going?
  • Impact of Global CB policy vs the FED
  • Is the 35-year bond bull market over?
  • Impact of the hurricanes on the economy
  • Outlook for Gold and Silver
  • Considerations on European geopolitics
  • Perspectives on China’s credit bubble
  • Underfunded pension crisis
  • Escalation of North Korea tensions

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Hugh Hendry HeadshotErik Townsend welcomes Hugh Hendry to MacroVoices. Erik and Hugh discuss:

  • Global economic outlook
  • Is wage and price inflation coming?
  • Outlook for the US dollar
  • Where are interest rates and the yield curve going?
  • Bond volatility vs. steepener
  • Consideration on precious metals
  • Outlook for the Global equity markets
  • The credit bubble in China
  • Outlook for the Macro hedge fund industry

Get embed code for this episode. | For other embed code options click here. | Download the audio MP3 File (54.94 MB) . | Download the podcast transcript:  pdf Here (525 KB)

Unfortunately, due to travel there will be no early podcast release tonight.

We sincerely apologize for this delay. We will publish the next podcast this Thursday per the usual schedule.

LukeGromenErik Townsend welcomes Luke Gromen to MacroVoices. Erik and Luke discuss:

  • Why be bearish on the US Dollar?
  • Do budget deficits matter?
  • New yuan oil contract changing global landscape
  • Impact on global Eurodollar system
  • Long gold, short oil
  • What is wrong with a new QE?
  • Impact on global holding of Treasury Bonds
  • Is inflation in the US a risk?
  • Is the economic endgame starting?

We strongly recommend that you download the chart book that accompanies this interview as Erik and Luke will refer to it throughout the interview. Registered users here at MacroVoices.com already received the download link in your research roundup e-mail. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register.  Once logged in, click “Research Library” and Guest Publications near the top of the page. From there you can download the PDF.

Get embed code for this episode. | For other embed code options click here. | Download the audio MP3 File (53.77 MB) . | Download the podcast transcript:   pdf Here (628 KB)

JeffreySniderEurodollar University 02 bErik Townsend welcomes back Jeffrey Snider to MacroVoices. Erik and Jeffrey discuss:

  • How Dollar becomes ‘Dollar’
  • Bankers’ Acceptances
  • The Evolution of Eurodollars
  • Where do Eurodollars come from?
  • Money as interbank liabilities
  • What exactly are Eurodollars?
  • Transformation of banking into a wholesale model

We strongly recommend that you download the chart book that accompanies this interview, and Erik and Jeff will refer to it throughout the interview. Registered users here at MacroVoices.com already received the download link in your research roundup e-mail. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register.  Once logged in, click “Research Library” and Guest Publications near the top of the page. From there you can download the PDF.

Get embed code for this episode. | For other embed code options click here. | Download the audio MP3 File (62.84 MB) . | Download the podcast transcript:   pdf Here (715 KB)

JoeMcMonigle headshotErik Townsend welcomes Joe McMonigle to MacroVoices. Erik and Joe discuss:

  • Is the oil supply glut rebalancing?
  • Is OPEC just jawboning the market?
  • Import data impacting oil inventories
  • Outlook for U.S. oil production
  • Update on Venezuelan geopolitics
  • What can go wrong with Iran?
  • Is the Petrodollar system at risk?
  • Is the Saudi Aramco IPO going to happen?
  • Is the term structure signaling bullish prices

Get embed code for this episode. | For other embed code options click here. | Download the audio MP3 File. (65.40 MB) | Download the podcast transcript:   pdf Here (623 KB)

JoshCrumbErik Townsend welcomes Josh Crumb to MacroVoices. Erik and Josh discuss:

  • Perspectives on what is gold?
  • Energy defining the price of gold
  • Interest rates influence on gold
  • Gold vs. cryptocurrencies
  • Government sponsored cryptocurrencies
  • Outlook for the US dollar
  • Forecast for gold prices
  • Impact stock market volatility would have on gold prices
  • Considerations on silver and bitcoins
  • Allocated vs. unallocated gold and gold ETFs

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Howe HeadshotErik Townsend welcomes Neil Howe to MacroVoices. Erik and Neil discuss:

  • What is the Fourth Turning?
  • Why the Fourth Turning started with GFC
  • Is there another big global event on the horizon?
  • Future changes in political landscape
  • What to expect for the next decade?
  • Impact of baby boomers retiring
  • Understanding the Homelander generation
  • Silent vs. Homelander generation
  • Reflections on the Fourth Turning book and new consideration

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Julian BrigdenJulian BrigdenRaoul PalRaoul Pal

Erik Townsend welcomes Raoul Pal and Julian Brigden to MacroVoices. Erik, Raoul and Julian discuss:

  • Views on the US Dollar
  • Perspectives on equities and business cycle?
  • Outlook on the bond bull market
  • Will we see a new bull market in precious metals?
  • Demographics and Japan
  • Considerations on the coming pension crisis
  • Where is oil going next?
  • Parallels to the 1990’s business cycle

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ChrisWhalenPicErik Townsend welcomes Chris Whalen to MacroVoices. Erik and Chris discuss:

  • Perspectives on the U.S. dollar pullback
  • Considerations on the overvalued equity markets
  • Corporate debt and interest rate trends
  • Outlook on bonds and levels of private debt
  • Trump bump and the aftermath
  • Is the secular bond bull market over
  • Reflecting back on Chris’s book – Inflated
  • Considerations on the coming pension crisis
  • Highlights on Chris’s new book – Ford Men

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pippa malmgrenErik Townsend welcomes Dr. Pippa Malmgren to MacroVoices. Erik and Pippa discuss:

  • Update on European geopolitics
  • What is in store for European migration
  • Considerations on Turkish politics
  • Geopolitics associated with the cryptocurrencies and blockchain technologies
  • Future of US dollars roll as world reserve currency
  • Post Donald Trump Texas economics
  • Understanding the PPT (Plunge Protection Team)

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hunt ben 300px keylineErik Townsend welcomes Dr. Ben Hunt to back MacroVoices. Erik and Ben discuss:

  • Sea of Change at Central Banks
  • Negative impact of Fed shrinking their balance sheet
  • Janet Yellen just broke up with you
  • Impact on the market conditions moving forward
  • Considerations on interest rate and bond trends
  • Fed impact on equity markets
  • Considerations for the future of the ETF market
  • Flaws of the volatility ETFs
  • Considerations in the Real Estate Markets

Get embed code for this episode. | For other embed code options click here. | Download the audio MP3 File (56.86 MB) . | Download the podcast transcript:   pdf Here (725 KB)

Tian HeadshotErik Townsend welcomes Tian Yang to MacroVoices. Erik and Tian discuss:

  • US growth cycle long in the tooth
  • US LEI’s holding up but US recession key theme
  • US credit cycle has definitely rolled over
  • Global liquidity also deteriorating sharply
  • China is also rolling over
  • Looking at global equities
  • Fixed income considerations
  • Consideration on the US dollar
  • Looking at Europe, Japan and Australia

We strongly recommend that you download the chart book that accompanies this interview, and Erik and Tian will refer to it throughout the interview. Registered users here at MacroVoices.com already received the download link in your research roundup e-mail. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register.  Once logged in, click “Research Library” and Guest Publications near the top of the page. From there you can download the PDF.

Get embed code for this episode. | For other embed code options click here. | Download the audio MP3 File (58.71 MB) . | Download the podcast transcript:   pdf Here (766 KB)

Gurevich PhotoErik Townsend welcomes Alex Gurevich back to MacroVoices. Erik and Alex discuss:

  • Mario Draghi and ECB
  • Short the Swiss Franc
  • US Dollar outlook
  • Trump reflation and the equity markets
  • Views on secular interest rates
  • Inflation trade
  • Long-term sustainability of the European Union
  • Outlook on China and Japan
  • Canadian economy, real estate and Canadian dollar
  • Consideration on the oil markets
  • Precious metals outlook

Get embed code for this episode. | For other embed code options click here. | Download the audio MP3 File (54.25 MB) . | Download the podcast transcript:   pdf Here (542 KB)

jessefeldermacrovoicepicErik Townsend welcomes Jesse Felder to MacroVoices. Erik and Jesse discuss:

  • DeMark indicators and turning points in exhausted trends 
  • Looking at current breadth indicators
  • Considerations on share buybacks
  • Are we at the secular turn in corporate share buybacks?
  • Looking at the VIX short positioning
  • Volatility targeting strategies like risk parity
  • Is the market setting up for a crash or just a correction
  • Demographic catalysts
  • Real assets outperforming financial assets
  • Can inflation runaway?
  • Outlook on Precious metals

We strongly recommend that you download the chart book that accompanies this interview, and Erik and Jesse will refer to it throughout the interview. Registered users here at MacroVoices.com already received the download link in your research roundup e-mail. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register.  Once logged in, click “Research Library” and Guest Publications near the top of the page. From there you can download the PDF.

Get embed code for this episode. | For other embed code options click here. | Download the audio MP3 File (59.51 MB) . | Download the podcast transcript:   pdf Here (749 KB)

Keith McCullough headshotErik Townsend welcomes back Keith McCullough to MacroVoices. Erik and Keith discuss::

  • Outlook on the US Dollar
  • Is the reflation trade narrative rolling over
  • Bullish outlook on the US markets and the Nasdaq
  • Where are bond yields going?
  • Are the secular lows in bond yields in?
  • Outlook on Europe and the Euro
  • Bitcoins and cryptocurrencies
  • Outlook on the emerging markets
  • Is there more upside in precious metals?
  • Outlook on China’s debt and economy

We strongly recommend that you download the chart book that accompanies this interview, and Erik and Keith will refer to it throughout the interview. Registered users here at MacroVoices.com already received the download link in your research roundup e-mail. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register.  Once logged in, click “Research Library” and Guest Publications near the top of the page. From there you can download the PDF.

Get embed code for this episode. | For other embed code options click here. | audio Download the MP3 File (58.49 MB) . | Download the podcast transcript: pdf Here (529 KB)

2014 02 13 Axel headshotErik Townsend welcomes Axel Merk to MacroVoices. Erik and Axel discuss:

  • Mario Draghi and the ECB policy
  • UK Election and what is at stake
  • Future of the European Union
  • Perspectives on the Trump reflation trade
  • U.S. Dollar, fiscal and monetary policy
  • Understanding the pension crisis
  • Chinese Yuan devaluation
  • Future of Japanese Debt and Yen
  • Outlook on gold

Get embed code for this episode. | For other embed code options click here. | Download the audio MP3 File (59.42 MB) . | Download the podcast transcript:   pdf Here (750 KB)

Arthur Berman largeErik Townsend welcomes Art Berman to MacroVoices. Erik and Art discuss:

  • Perspective on OPEC and the 9-month extension on production cuts
  • OPEC’s goal to keep a floor under oil prices
  • Positioning of oil traders since February
  • Reasons for lower oil prices
  • Putting U.S. production into perspective
  • Where does comparative inventory price Brent and WTI
  • Inventory data and forecasts
  • Impact of capital markets and central bank policy
  • Early recovery from oil price collapse
  • Correlation of U.S. debt to tight oil
  • Term structure of the crude oil markets

We strongly recommend that you download the chart book that accompanies this interview, and Erik and Art will refer to it throughout the interview. Registered users here at MacroVoices.com already received the download link in your research roundup e-mail. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register.  Once logged in, click “Research Library” and Guest Publications near the top of the page. From there you can download the PDF.

Get embed code for this episode. | For other embed code options click here. | Download the   audio MP3 File (23.71 MB) . | Download the podcast transcript:   pdf Here (852 KB)

Arthur Berman largeErik Townsend welcomes Art Berman to MacroVoices. Erik and Art discuss:

  • Perspective on OPEC and the 9-month extension on production cuts
  • OPEC’s goal to keep a floor under oil prices
  • Positioning of oil traders since February
  • Reasons for lower oil prices
  • Putting U.S. production into perspective
  • Where does comparative inventory price Brent and WTI
  • Inventory data and forecasts
  • Impact of capital markets and central bank policy
  • Early recovery from oil price collapse
  • Correlation of U.S. debt to tight oil
  • Term structure of the crude oil markets

We strongly recommend that you download the chart book that accompanies this interview, and Erik and Art will refer to it throughout the interview. Registered users here at MacroVoices.com already received the download link in your research roundup e-mail. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register.  Once logged in, click “Research Library” and Guest Publications near the top of the page. From there you can download the PDF.

Get embed code for this episode. | For other embed code options click here. | Download the audio MP3 File (36.48 MB) . | Download the podcast transcript:   pdf Here (852 KB)

JeffreySniderErik Townsend welcomes Jeffrey Snider to MacroVoices. Erik and Jeffrey discuss:

  • Understanding Eurodollars and the Eurodollar shortage
  • The real drivers of the US Dollar bull market
  • The flaws in the reflation trade narrative
  • Looking at the swap spreads turning positive
  • Inflation outlook
  • Connection between Eurodollars and gold
  • TIC US Banking Data – Caribbean, Europe, Asia
  • Impact of QE on Eurodollars
  • China and PBOC considerations
  • Absolute improvement vs. relative

We strongly recommend that you download the chart book that accompanies this interview, and Erik and Jeff will refer to it throughout the interview. Registered users here at MacroVoices.com already received the download link in your research roundup e-mail. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register.  Once logged in, click “Research Library” and Guest Publications near the top of the page. From there you can download the PDF.

Get embed code for this episode. | For other embed code options click here. | Download the audio MP3 File (63.73 MB) . | Download the podcast transcript:   pdf Here (758 KB)

MACRO VOICES is presented for informational and entertainment purposes only. The information presented in MACRO VOICES should NOT be construed as investment advice. Always consult a licensed investment professional before making important investment decisions. The opinions expressed on MACRO VOICES are those of the participants. MACRO VOICES, its producers, and hosts Erik Townsend and Nathan Egger shall NOT be liable for losses resulting from investment decisions based on information or viewpoints presented on MACRO VOICES.

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