Christopher Zook, founder and Chief Investment Officer of CAZ Investments, which oversees just under $6 billion in assets under management, joins Julia La Roche on episode 104 for a wide-ranging macroeconomic discussion.
In this episode, Zook shares that he still sees stagflation ahead. In this environment, Zook is looking for opportunities in dislocated assets, particularly in energy and real estate.
Zook has over 30 years of experience investing in traditional and alternative asset classes. He was recently honored with the Texas Alternative Investments Association’s (TAIA) Lifetime Achievement Award in recognition of his contribution and sustained support of the industry in Texas. He regularly contributes to major media outlets, including CNBC, Fox Business, and Bloomberg. Before starting CAZ Investments in 2001, Zook served in senior leadership positions with Oppenheimer, Prudential Securities, Lehman Brothers, and Paine Webber.
0:00 Welcome Christopher Zook to the show
1:07 Macro view today
2:50 The Fed likely to maintain credibility
4:08 Inflation and stagflation
5:40 Stagflation impact on stocks and bonds
8:30 Entering into a lost decade
11:44 Passive investing v. Active investing
16:20 Dichotomy in the market
19:00 Fiscal picture in the US
22:19 Betting against subprime
22:53 Concern about the consumers’ spending habits
25:27 Investment opportunities
28:52 Commercial real estate
34:27 Energy
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#185 Jim Rickards: We're Probably Already In A Civil War
#184 Professor Steve Hanke, Who Nailed The 9% Inflation Call, Sees It Falling To 2.5%-3% By Year-End And A Recession On The Way
#183 Neil Howe On The Fourth Turning, Tribalization of America, And The Attempted Assassination of Former President Trump
#182 Tyler Cowen On Why We Might Get Lucky And AI Can Solve Out Debt Situation
#181 Chris Whalen On Why The Fed Is Worried About A Recession Next Year
#180 Andrew Wilkinson On Going From A Barista To A Billionaire, Building Tiny 'The Berkshire Hathaway' Of Tech, And Life Lessons From Warren Buffett, Charlie Munger, And Bill Ackman
#179 Ed Dowd On The Fed's Policy Error And Why We Could See A Bad Correction Ahead
#178 Peter Boockvar: The Is The Most Mixed And Uneven Economy That I’ve Ever Seen And It Feels More Like A 1.5% GDP Growth Rate Economy Rather Than 3%
#177 Mike Green: Passive Investing Has Turned The Market On Autopilot
#176 Economist Jonathan Treussard On The Extraordinarily Confusing Macro Data, Markets With A Memory Of A Goldfish, And If We're In Bubble Territory
#175 Chris Whalen: 'We're Hiding A Lot' — Why Commercial Could Be The Next Source Of The Financial Crisis In This Country
#174 James Lavish On The Debt Spiral: They’re Going To Print So Much Money It’s Going To Shock You
#173 Dave Collum On Why We’re Headed For A 40-Year Bear Market
#172 John Cochrane On The Fiscal Theory Of The Price Level, Causes Of Inflation, And The Need To Stop Throwing Money Down Trillion-dollar Rat Holes
#171 Dave Friedberg, CEO Of Ohala And Co-Host of The All-In Podcast, On The New Breakthrough Can Boost Crop Yields By 50-100% And Could Change Farming Forever
#170 Bob Elliott: The Biggest Risk For Equity Investors Is The Economy Remains Too Strong
#169 Carol Roth: The Stagflationary Economy Is Making A Resurgence
#168 The ‘Acid Capitalist’ Hugh Hendry On The Fed’s No-Win Situation, The Fragility Of Valuations, Gold As ‘The Alchemy Of Chaos,’ Buying Bitcoin, And The Dangerous Sign The Japanese Yen Is
#167 Michael Pento: If Rates Don't Come Down Across The Yield Curve Relatively Quickly, The Economy's In For Big Trouble
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