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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DSC06699 2Erik Townsend and Aaron Chan welcome Jeffrey Snider to MacroVoices. Erik and Jeffrey discuss:

  • Rich equity valuations despite an on-going earnings recession
  • Off-track corporate cash flows and profits as evidence of a weakening economic environment
  • The mainstream misconception and myth that the Fed provides liquidity thereby levitating equity valuations 
  • The chronic and acute dollar shortage as evidenced by the decaying post-2007 global eurodollar system
  • Global central banks resorting to sellng Treasuries as a means to filling dollar funding gaps
  • Milton Friedman's Interest Rate Fallacy and how long-run low interest rates demonstrate tightness of money supply
  • How the tight-dollar environment manifests itself in the increasingly disorderly global repo market
  • The complete disconnect between inferred interest rate bearishness in eurodollar futures and QE as liquidity
  • TED-spread volatility and other wholesale financial measures suggesting central banks might be losing control
  • The Fed's inadequate response to the structural contraction in the global eurodollar system
  • Wholesale eurodollar system not tracking with prior exponential growth and demonstrating permanent monetary disruption
  • How the preponderance of evidence necessitates a systemic reset
  • Why central bankers lack the answers by being married to an incongruent monetary framework
  • The potentially galvanizing catalyst between nations in lieu of a serious crisis

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RealVision TV red 02A conversation on March 21, 2016 between Grant Williams and Paul Brodsky, founder of Macro Allocation Inc. 

 

 

 

 

 

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Paul Brodsky HeadshotErik Townsend and Aaron Chan welcome Paul Brodsky to MacroVoices. Erik and Paul discuss:

  • The necessary global reset due to insurmountable leverage
  • Views and outlook for U.S. Treasuries despite obvious sovereign insolvency
  • Signals for exiting the bond market bubble
  • The opacity of currency and monetary issues in Europe
  • Current monetary policy environment as slow-motion "water torture" for the global economy
  • The false deleveraging narrative when viewed in the light of base money
  • The possibility of central banks printing money to buy gold
  • Thinking behind owning gold bullion relative to gold mining shares
  • Oil's role in U.S. Dollar hegemony and likelihood of change
  • Scenarios including disinflation, followed by hyperinflation

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Charles0002 X3Erik Townsend and Aaron Chan welcome Charles Biderman to MacroVoices. Erik and Charles discuss:

  • Big picture and current market contexts beginning from Post-WW2
  • Dynamics between developed and emerging market currencies
  • Flight capital impact on U.S. markets
  • Predictions for U.S. Treasury yields
  • Possible catalysts to bring-on the endgame and portfolio allocations
  • Backstory related to sub-advisor relationship with and termination from AdvisorShares
  • TrimTabs' proprietary Float Shrink strategy and outperformance

 

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RealVision TV red 01A conversation on April 25, 2016 between Grant Williams and Stephen Diggle, founder of Vulpes Investment Management.

 

 

 

 

 

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David S Rose 2013Erik Townsend and Aaron Chan welcome David S. Rose to MacroVoices. Erik and David discuss:

  • Background and introduction to angel investing and entrepreneurship through his great uncle David Rose
  • What angel investing actually is, how it might fit in a portfolio, and who it is suited for
  • The time-horizon, temperament, and risk-tolerance required for angel investing
  • The appropriate mind-set when approaching angel investing
  • Expected investment returns from angel investing and the role of diversification
  • Why it's “far better to invest in the jockey than on the horse”
  • Balancing and matching between entrepreneurial execution and bright ideas
  • Mechanics and funding sequence of an angel deal
  • Post-investment lifecycle 
  • The importance of networking with veteran angel investors prior to initial investments
  • How the Angel Capital Association vets angel investing groups
  • Learning through reading, finding a mentor, and investing
  • Gust.com angel investing platform, Singularity University and exponential technology

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Eric HunsaderErik Townsend and Aaron Chan welcome Eric Hunsader to MacroVoices. Erik and Eric discuss:

  • Regulation National Market System (NMS), securities information processors (SIPs), high-frequency trading (HFT), and latency arbitrage
  • Eric's incredible story of exposing the NYSE's selling of higher-speed data feeds to high-frequency traders
  • "Quote-stuffing" and how it provides an unfair advantage through compromising quote systems
  • Manual traders "spoofing" as a means of tricking algorithmic systems
  • The fallacy of HFT providing greater liquidity in the market
  • The legal immunity of U.S. exchanges as Self-Regulatory Organizations (SRO)
  • How retail investor orders are executed and taken advantage of by internalizers
  • Micro-timestamp resolution as a means for transparency
  • How IEX prevents latency arbitrage through "speed-bumping" by 1/1000th of a blink of an eye
  • The potential of combining power and integrity in a market devoid of transparency
  • Nanex's differentiated market data offering

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RealVision TV red 01A conversation on May 29, 2016 between Grant Williams and Stephanie Pomboy, founder of MacroMavens.

 

 

 

 

 

 

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richard dicksonErik Townsend and Aaron Chan welcome Richard Dickson to MacroVoices. Erik and Richard discuss:

  • Lowry Research’s approach of looking at markets through buying power and selling pressure
  • The divergence in price action versus buying power and selling pressure indices
  • What the divergence means in terms of market accumulation or distribution
  • Dynamic of foreign capital flight in an environment of zero interest rates
  • Similarity between new market entrants in 1999 and present day
  • The poor balance of supply and demand in the FTSE 100 post-Brexit
  • The increase in the balance of selling in Italian equities, where 65% of stocks are trading on intermediate down-trends
  • Buying power topping and selling pressure accelerating in Italy and Spain prior to Brexit
  • How even a perceived economic stalwart like Germany is susceptible to weakening market conditions
  • Lagging European sectors relative to the rest of the world
  • Chinese, Japanese, Indian, and Australian supply and demand dynamics
  • How much further U.S. indices have to advance before reaching a level that generates profit-taking

 

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E 4552Color 1Erik Townsend and Aaron Chan introduce the Accredited Investor Academy Series, Part I. We’re taking this week off from our regular show format, so instead of a featured interview guest, we’re airing the first of a four-part series about learning to be a sophisticated private investor.

Erik and Aaron discuss:

  • Erik's personal journey from successful software entrepreneur to hedge fund manager
  • What it means to be an accredited investor and the associated challenges that go along with the distinction
  • Private banking and possible red flags
  • Erik's personal experience with private bankers and "exclusive" investment deals
  • The lessons learned from the implosion of this "exclusive" private banking deal that resulted in substantial loss of capital
  • Erik's subsequent reinvention into a professional investor
  • The challenges associated with transfering from software business culture to Wall Street
  • Coming in Part II: The process of re-inventing oneself from Entrepreneur to sophisticated Private Investor
  • Coming in Parts III and IV: Angel investing, Venture Capital, Private Equity LPs, & Hedge Funds

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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 Patrick Ceresna shall NOT be liable for losses resulting from investment decisions based on information or viewpoints presented on MACRO VOICES.

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