The Acid Capitalist Hugh Hendry joins Julia La Roche again, this time in the East Village, for an in-person, unfiltered conversation on macro and more. 

Links: 

Twitter/X: https://twitter.com/hendry_hugh

Podcast: https://podcasts.apple.com/us/podcast/the-acid-capitalist-podcast/id1511187978

YouTube: https://www.youtube.com/@HughHendryOfficial

Timestamps: 

0:00 Intro and welcome

1:36 Macro view and the Fed’s no-win situation 

2:45 Revisiting financial history 

4:20 The U.S. has become the economic locomotive of global growth

5:00 Policy error of fiscal conservatism 

6:30 Everything is expensive

7:52 Invest 10% of net worth 

9:00 Hugh’s hedge fund years 

12:24 ‘To manage a lot of money you have to be serious.’ — the suits

19:07 Looking at charts and patterns while listening to Pink Floyd

24:30 China

36:19 The bubble today - the fragility of valuations 

38:00 How you want to be allocated 

44:16 The conceit and the arrogance of a well-formed argument  

47:00 Hugh’s mistake buying Reader’s Digest in the 90s

48:48 Hugh’s go-to interview question: Tell me when you know it’s going wrong

50:44 Gold’s breakout — not an agent of chaos, the alchemy of chaos

52:24 Japanese Yen 

53:49 Bitcoin 

57:09 Silver 

1:01:50 The Fed’s no-win situation 

1:06:49 The Fed shouldn't be cutting interest rates

1:08:47 Present danger

1:11:00 The death of money?

1:15:00 Millennials and Bitcoin

1:18:43 The Bono story