The Tipping Point: Markets Are Disconnected From Reality | Grant Williams & Peter Atwater

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Today’s guests are Peter Atwater and Grant Williams, two guys that have known each other for a decade. Peter is a professor and author of The Confidence Map: Charting a Path from Chaos to Clarity. Grant is the author of the newsletter Things That Make you Go Hmmm… and host of The Grant Williams Podcast. He was also a co-founder of Real Vision.
Today’s episode is a masterclass in how to analyze market sentiment, which seems particularly timely given how the market has been lately. Peter shares his framework for looking at the world through the lens of certainty and control and how that drives consumer confidence. Then he and Grant kick around a bunch of topics, including the relationship between natural gas and Nvidia, Elon Musk and the velvet rope economy, gold and Bitcoin, the opportunity in Japan, and much, much more.
To see links or read the transcript of the episode, visit us at mebfaber.com/2024/03/15/grant...
(0:16) - Welcome to our guests, Peter Atwater and Grant Williams
(1:04) - Confidence and vulnerability’s role in financial market
(4:54) - Elon Musk 0 - 60mph Tweet
(8:57) - Peter’s take on natural gas and Nvidia
(11:53) - Class versus wealth
(16:06) - Thoughts on gold and Bitcoin
(21:14) - The world of luxury
(27:19) - The UK market
(31:46) - Why Grant is excited about the Japanese stock market
(35:50) - Who would Grant want to interview today?
(36:59) - Modern-Day Asset Management Business w/ Anthony Deden
(43:05) - Peter and Grant’s most controversial opinions
(47:35) - Peter and Grant’s most memorable investments
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[@robwindridge7804]

I’ve watched the Anthony Deden interview many times, it’s phenomenal. It should be shown in schools , and all politicans should watch that and read The Creature from Jekyll Island before they are allowed anywhere near power .

[@aaranda10]

Great discussion as always. Grant and Peter is a great combination. Meb great interview as usual getting the real juice from the guests. Thanks!

[@KK-pm7ud]

I watched that interview with Tony and it was very good. That and the Cohodes interview introduced me to Grant and I've enjoyed him ever since.

[@user-99.99]

Great discussion. Thank you.

[@crouchhill]

Great Podcast always when Grant and Peter involved. Btw Grant love your mezzanine floor

[@johngrath9773]

What a great video. Such good conversation.

[@CaldonianDude]

Yes, the Tony Deden interview was probably the best thing RV put out (quality wise), that and the interview with Ned Naylor-Leyland...

[@randalljmoore]

Fantastic episode! I you haven’t picked up Peter’s book yet, please do. It’s great.

[@MartinJG100]

27:40. Absolutely, Grant. Politics and mainstream media have done everything they can to distort and subvert in too many areas of the UK, and the world for that matter. 28:23. Spot on.

[@user-gy7zp2ux8f]

Always good to see your videos, keep it up! 🙋‍♂️ Btw, are you currently seeking video editors or a thumbnail designer to enhance viewers, retention, or CTR? If yes, May I send you a previous work sample?

[@robertstilson9294]

Iike the hat..I live about 1 mile from Wrightsville Beach

[@jays9870]

Terrific conversation; well done!

[@scottwerdal3367]

Really appreciate Grant's take on Elon @ min5-6 early on. Elon's wedding to, and reliance on (?), govt. subsidies and neural hyperlink as well are suspicious. Elon's "x" counterpoint platform is important and necessary to express opinion. But your guests' neutral / objective take on Musk is vital for investors to consider in the broader picture.

[@garypowell9006]

Meb, would you please do an interview with Sir Steven Wilkinson?

[@bpb5541]

I can’t wait to take all the Bull’s money! You go long, I thank you in advance!

[@togoni]

Keep waiting

[@stiffeification]

Still waiting

[@togoni]

@@stiffeification There are people waiting for 20 years now. 🤪🤦🏻‍♂️

[@Lanark83]

Grant is always thoughtful and good value. Disagree on these “great British companies”. The entire FTSE 100 has a market cap smaller than Microsoft. The UK has pretty much gone down the plug hole. For sure there are a few pretty average large cap companies HQ’d in London in the banking, mining, energy space etc but literally zero truly great companies! But on Tony Dedon 100%. Yes Please. Prior interview was one of the best investment vids of last decade.

[@philistineau]

The FTSE 100 has a P/E of 10. Microsoft has a P/E of 38. Shall we call that triple the earnings? You can buy much higher earnings for less money then, is what you’ve just said. The idea that market cap makes a company great is moronic. It’s the inverse. A high market cap can make a great company a terrible investment. Big companies routinely underperform.

[@Lanark83]

@@philistineau what routinely underperforms - are large cap UK equities. The large cap UK tech sector has ceased to exist beyond a couple of firms like Experian or maybe Relx who are not really even considered tech. A couple of event big pharma, oil and gas and financials and maybe a couple of defense contractors like BAE. Nothing else can compete side by side when it comes to quality and to make the claim to being truly “world class”. Go look at the Portfolio of the #1 UK obsessive when it comes to picking Great Companies (Terry Smith) and he maybe has a couple inc Unilever which has been anything but great.

[@edgarvelasco7130]

"I'm not an Elon Musk hater" - proceeds to hate on Musk for 5 minutes....

[@NV-uv3yz]

Headline could read: Elon creates a silent bullet the size of a car! An electric 18 wheeler was the scariest vehicle I never heard pass me. A 40,000 lb. silent load

[@mlangbert]

The four requirements for money are divisibility, fungiblity, portability, and durability. Bitcoin does well on all, except in falls down on some aspects of durability, which may be critical. Because Bitcoin is based on internet technology, it is destroyed when the internet collapses. It is susceptible to confiscation by governments that choose to use technological methods. Even liberal governments such as Canada's have demonstrated this degree of totalitarianism, so if you live almost anywhere, state confiscation is a threat. Windstorms, hurricanes, torandoes, war, terrorist attacks, technical problems of telecommunications companies like Spectrum, and criminal attacks on the telecommunications firms will cause Bitcoin to fail. It seems to me that part of the reason for an alternative currency is that it can substitute for the banking system in a disaster or war, and Bitcoin and other server-based coins do not seem to be realistic substitutes.

[@crimeajewel]

❤❤❤❤ 🇺🇦 🇺🇦 🇺🇦 ❤❤❤❤❤😊😊😊😊😊

[@giffica]

Bear Bear Bear Bear Bear Bear ALERRRRRTTTTTT

[@giffica]

@@hammondo73 I'm grey and i listen to anyone who isn't a bear.

[@pierrechaput9367]

Editing of the video is awful. Really awful

[@williewill1237]

Some of these old geezers don’t appreciate

[@pierrechaput9367]

@@williewill1237 yes and I’m only 50, so imagine old geezers…

[@philistineau]

Haven’t we collectively moved past the stupidity of individual stock picking? It’s hard for me to take anyone seriously who thinks that they can predict the future. This debate has been put to bed. It’s unfortunate. Your guest is still living in his glory days of the 1980s.