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Erik Townsend and Patrick Ceresna welcome Stephanie Pomboy to MacroVoices. Erik and Stephanie discuss:

  • Late economic cycle – what’s next?
  • Perspective on the expansion of the FED’s balance sheet
  • Significance of the recent liquidity shock
  • Discretionary spending, revolving credit and retail sales
  • Inventories to sales ratio, outlook on profits
  • Divergence between corporate profits and S&P
  • Outlook for the 4th Quarter 
  • Perspectives on MMT
  • Is it finally time to short junk bond market?
  • Outlook on Gold

 We strongly recommend that you download the chart book that accompanies this episode, as Erik and Stephanie will refer to it throughout the interview. If you are already registered at MacroVoices.com, just login and the download link will appear here once you're logged in. 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, you will see the download link(s) and will be able to download the PDF document(s).

Download the podcast transcript: [ Click Here ]

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SPECIAL POST GAME GUEST- Rick Rule

Strategies for participating in gold equities bull market

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Stephanie Pomboy

Stephanie Pomboy is founder and president of MacroMavens, a boutique research firm that provides macroeconomic research and commentary to an exclusive swath of the institutional investment community. The firm takes an unconventional approach to economic analysis, eschewing the typical over-emphasis on short-term swings. Instead MacroMavens endeavors to identify major macro trends and to flesh-out the market risks/opportunities around them. Since its inception in 2002, the firm has earned a reputation for calling major macro developments well ahead of the curve. Stephanie was one of the few warning of the housing bubble's bust -- and a lone voice in identifying the inexorable hit to financials to follow.

The firm’s clients include the largest mutual fund institutions and macro hedge funds, who have come to rely on MacroMavens’ unique and thought-provoking brand of analysis.

Although closely guarded, Stephanie's views have been the subject of interviews in Barron's and her work has been cited in major industry publications from the Financial Times to The Wall Street Journal. She is a regular guest on Fox Business and Bloomberg TV.

Ms. Pomboy started her career at CJ Lawrence, working with Ed Hyman and Nancy Lazar. In 1991 the team left to form ISI Group where, as Managing Director, Stephanie provided timely economic analysis to the country's largest and most sophisticated investment institutions.

Stephanie earned her bachelor’s degree in economics from Dartmouth College while also competing as captain of the Tae Kwon Do team. She presently resides in New York City but spends her free time in the mountains of Colorado, where she is an avid hiker and telemark skier.

Rick Rule

Mr. Rule has dedicated his entire adult life to many aspects of natural resource securities investing. In addition to the knowledge and experience gained in a long and focused career, he has a worldwide network of contacts in the natural resource and finance worlds. As Director, President, and Chief Executive Officer of Sprott US Holdings, Inc., Mr. Rule leads a highly skilled team of earth science and finance professionals who enjoy a worldwide reputation for resource investment management.

Mr. Rule is a frequent speaker at industry conferences, and is interviewed for numerous radio, television, print and online media outlets concerning natural resource investment and industry topics. He is frequently quoted and referred by prominent natural resource-oriented newsletters and advisories.  Mr. Rule and his team have long experience in many resource sectors including agriculture, alternative energy, forestry, oil and gas, mining and water. Mr. Rule is particularly active in private placement markets, having originated and participated in hundreds of debt and equity transactions with private, pre-public and public companies.

Sprott US Holdings, Inc. is a holding company made up of three separate and distinct companies: Sprott Global Resource Investments, Ltd., a FINRA Registered Broker/Dealer; Sprott Asset Management USA Inc., an SEC Registered Investment Adviser offering managed accounts; and Resource Capital Investment Corporation, an SEC Registered Investment Adviser managing partnerships.  These three companies make up the US Subsidiaries of Sprott Inc. and are active in securities brokerage, segregated account money management and investment partnership management involving both equity and debt instruments, across the entire spectrum of the natural resource industry.