WealthTrack always provides some good interviews. This week’s interview with Matthew McLennan i felt, is a good share because Matthew McLennan provides insights into how a value manager looks at the issues in the world in a controlled manner. So you won’t get some extreme point of view but a logical reasoning of gold and energy.
- 4:00: Financial Repression or too much debt
- 4:52: Competition for resources where developing market want what developed economies have, finance by debt
- 6:40: Cash in sovereign and low real interest rate
- 7:40: Russia risky situation and China risky situation
- 9:40: They are 20% cash and 10% gold stocks. Why with such a dire outlook they still have 70% in equities?
- 11:20: View of equities. Margins and multiples are high and future expected returns.
- 12:22: How do they define scarcity or moat
- 13:30: Their view of Gold as money
- 15:20: Their investment process. Their wish list researched well before
- 16:45: Talk about their top 5 holdings gold, Microsoft, Intel, Oracle and Comcast
- 18:54: They were early in Japan and why they are selling
- 19:50: The Energy value situation
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