#104 Christopher Zook On Stagflation, Energy, And A ’Generational Opportunity’ In Commercial Real Estate

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