Joseph Wang on Buying Stocks During the Banking Crisis

Joseph Wang joined me for a conversation about the FED, inflation, commodities, and his outlook on 2023 and the current decade.

Joseph is the CIO at Monetary Macro and previously a senior trader on the open markets desk. The Desk sits at the center of the dollar system as its ultimate and infinite provider of dollars. It has access to virtually all regulatory and financial data, as well as open lines of communication with all major market participants. It is one of the few places in the world where one can definitively learn how the system works.

Earlier in his career, Joseph was a credit analyst and in another life he practiced law. He holds a B.A. in Economics from Northwestern University, a J.D. from Columbia Law School, and an MSc. in Financial Economics from Oxford University.

Timestamps
00:00 Intro
02:20 Is SVB a risk to commodities?
05:45 Will we see more bank runs?
11:00 Will the FED cut rates to save the banks?
13:50 Will the FED defeat inflation?
18:00 Can Powell be Volcker?
19:00 Will the labor market get hurt?
21:00 There are no supply shortages?
25:40 What is Joseph buying?
27:30 Is there a currency war?
28:45 Why not just buy bonds?
29:50 Is gold dying?
32:10 Is FED Guy buying steel companies?
36:00 How long will he hold his stocks?
38:40 Is Joseph buying exploration stocks?
41:40 What matters more than the FED?
44:00 5-point summary of the conversation

Was there something wrong with what the guests said? Did I fail to ask an important question? Did I make a mistake? Is my hair ugly, my voice stupid, and my face misaligned? Please tell me about it. Criticism and skepticism are highly welcome and help me learn. Thank you.

[jamesheadings]

Don't lose hope on your juniors, Antonio. You analyze well. I would just right size the risk. Don't throw away the lottery ticket before they draw the numbers.

[iansbackisichi]

For the record: Canadians are not “All in” on the green agenda. Some of us like common sense. And many of us are aware of the fact that much of the experts pushing the green agenda have ludicrous outlooks that will not work. We don’t want to be Germany. Their leadership has failed and we don’t want ours to do the same

[douglas]

Awesome guest. Thank you. I really enjoy your channel. No nonsense.

[tonymen]

Antonio.. good insight on higher for longer thesis but get RR back on here re gold and uranium asymmetry just guessing you holding may take longer with risk off slowdown

[ubertar]

Where did he say anything about buying energy stocks, or anything about energy stocks? The only investment mentioned was steel. Good interview, misleading title.

[jamesheadings]

Energy is my whole portfolio. I just listened to Raoul Pal and Andreas Larsen shoot it to pieces. It is hard to say Kuppy, Huhn, Hoese, and Ruhl are idiots. Really glad to hear a non resource analyst back us up.

[bozolito]

Ok can we talk about your hair for a minute? Looks sharp man. Your wife is grooming you well. What’s up with the landscape behind you ? Did you paint that?

[bozolito]

Ok last thought and then I’ll shut up: imagine if Joseph and Lyn Alden had a baby. The superhuman would come out of the womb teaching us about economic history

[johnelliott]

Terrific guest. If demand is strong than why are imports down?? Why shipping container stack up in China? Why is manufacturing pmi down below 50 which indicates a slow down/contraction? Bankers seem to skate where puck was and miss where it's going.

[billyd]

Great Job -- I found him interesting. You are becoming the "Destination" for Resource Investing Discussion - I hope all the guests you want, you get #Quality

[Sciscaaa]

Not everyone in EU is on board of the green policy madness. Poland is trying slow it down, but it's getting strong-armed by central planners in Brussels. Resistance seems to be futile...

[williampmcd]

Personal responsibility seems to be a crucial factor for happy investing.

[judahsynnestvedt]

Excellent point about American culture of wanting free stuff (and how it will drive inflation) at 36:00 min

[robertdagge]

As a gambling addict, check out the crypto miners - but with a strategy to SELL (all) when they get higher. ie take your profits. What's higher? More than you paid is the simple

[williampmcd]

Antonio, you set a very high bar for excellent, focused and meaningful interviews. Best success to you!

[sanpedrosilver]

Higher for longer! Indeed..
Inflation will get higher for longer. 💸

[postscript]

Great interview. Best insight is that with svb going down makes fed job harder because now everyone thinks that they will let up with rate hikes.

[roblewis]

Thanks again for a great conversation. On another topic, is that a Bob Ross behind your right shoulder?

[BeefCurd]

lol 98% of depositors in SVB had more than 250, 000.00

[BeefCurd]

17:20 "Higher for longer" ...makes since and great news. That means the Gov will pay 5k/month per every 100k you loan to them for years from now. Awesome insight. I love recessions.