The Asian Financial Crisis & Similarities to Today with Russell Napier

[@somejohndoe3004]

One of my top interviews in 2021 on the topic of finance. Russell's comments maps the next 12-15 years in the West. This interview will age incredibly well for those who prefer the red pill. Thanks Russell and Anthony, I got the memo.

[@WTFinancepodcast]

Thank you so much for the kind words. What a privilege to have had such an impact with Russell. Thanks again!

[@schumzy]

A true red pill rejects capitalism itself. Just saying. But I get your point on skepticism.

[@kikolatulipe]

First time I’ve heard of this author , the interview is awesome ! Definitely I’ll buy the book on Asian financial crisis.

[@WTFinancepodcast]

Thanks for listening and glad you enjoyed!

[@IanFraserGB]

@ 11 minutes: "It's very dangerous to be in a crowd of enthusiasts (e.g. for a football club, cryptocurrencies, or Asian equities)... You have to be ready stay outside the crowd... The ability to walk into a room and disagree with everybody [isn't something that comes naturally but is something you can teach yourself]. If you read financial history you realise these things happen all the time. You're always told that 'this time it's different' but, as you probably know, these are the four most dangerous words in the English language. None of us can be entirely dispassionate when faced with such a crowd and you have to be ready to be unpopular." - great advice from Russell Napier, who goes on to reveal the false assumptions that underpin most finance degree, including that markets are efficient and investors rational.

[@WTFinancepodcast]

Definitely an important message, especially with the tools at our disposal today to be exclusively involved in niche groups. For anyone reading, my interview with Ian adds further to this message and how many of these issues occurred at RBS before the collapse of the company.

[@aristarchussamius2437]

Any chance to get a list of books Russell recommends on financial history? I guess many people who are starting out would like that...

[@somejohndoe3004]

Well done, very nice interview, great guest, value content. Thank you !

[@WTFinancepodcast]

Glad you enjoyed it!

[@emmawilliams5727]

Fascinating stuff! Very thought provoking comments on the education system 👍🏻

[@WTFinancepodcast]

Glad you enjoyed it!

[@Ruth-wu3vf]

Thank you. Always interested in Russell's thoughts. Original thinker.

[@WTFinancepodcast]

Thanks Ruth, I agree. Every interview I watch of Russell's I always seem to learn something new.

[@Ruth-wu3vf]

@@WTFinancepodcast One of the few with credible ideas about how the future might pan out.

[@crgregersen]

Could you make a list of these "7 books of stockmarket/financial history to read"?

[@crgregersen]

1. The money game - Adam Smith (mentioned in the video)

[@crgregersen]

2. Stocks for the long run - Jeremy Siegel (also mentioned in the video)

[@WTFinancepodcast]

Hey Carsten, let me ask Russell and I will get back to you with the list.

[@crgregersen]

I've bought "The money game" from Audible this weekend (had a longer cartrip) .. the book is hilarious good.. not 100% sure I will learn something useful for investing that I didn't know before, but the book nails it regarding so many aspects of the market participants :-)

[@WTFinancepodcast]

@@crgregersen Glad you enjoyed! I find it’s never a bad thing to be reminded about others mistakes and what to avoid!

[@somejohndoe3004]

I'd be curious to get Russell's take on the current bond market, many observers think that it will go down once the Fed starts tapering or tightning. If the bond market goes I presume the stock market will follow not too long after. Everyone welcome to comment. Cheers !

[@WTFinancepodcast]

It will be interesting to see what happens. While Russell talks about taking lessons from history, we are definitely in a unique situation. The US and other countries don't have many more tools to fight if both stocks and bonds go down. Could cause stagflation. What are your thoughts on it?

[@somejohndoe3004]

Forgot to mention, the countries may not have many tools but they have three that few people mention: the telephone to get institutions to dance to the music they play, the funny indicator numbers they publish that algos will read and act upon en masse, the CPI would be an obvious example of that, and last tool will be CBDCs. Soon enough they will all have their CBDCs ready, which is programmable money, I presume they will be able to micromanage the economy like never before with that. For good or bad, we'll see.

[@WTFinancepodcast]

@@anistar002 It is definitely the most favourable path for governments, but I don't think most people will appreciate it! Especially if we don't see wage growth.

[@schumzy]

May 2022, inflation is at 7%. Wages are going up and there's a labour revolt

[@WTFinancepodcast]

He got most of it right

[@subedi04]

Better than ft

[@WTFinancepodcast]

Glad you enjoyed!

[@rof8200]

China "fundamentals" to be tested? I think so.

[@WTFinancepodcast]

It is as if he knew the future! Supports Russell's points that history continues to repeat itself.