Jason Burack of Wall St for Main St had on returning guest, former Wall St bond trader, investment analyst, gold fund manager, founder of Investment Research Dynamics http://investmentresearchdynamics.com/ and co-creator of the popular Shadow of Truth podcast with Rory Hall, Dave Kranzler.
Dave worked on Wall St for over 2 decades and his articles on Investment Research Dynamics are normally well written and quite insightful about the global economy, gold market, etc.
During this 30+ minute interview, Jason asks Dave about the state of the global economy and if it's one big mess? Dave says calling the global economy a mess implies that things can be cleaned up and he believes things cannot be cleaned up. Dave expects a depression at least as bad as the 1929 Great Depression in the near future.
Jason then asks Dave about the recent rally in stocks, copper, oil and base metals and if it was a short covering rally or if the bottom in oil is real?
Dave thinks this recent rally in oil, copper, etc is 100% a bear market rally or short covering rally without any fundamental justification.
Jason then asks Dave about the banks exposure to the oil market?
Dave thinks the banks are lying to keep larger oil companies from going bankrupt and to make bank balance sheets appear much better than reality.
Next, Jason asks Dave how he finds good shorting ideas for his new paid newsletter, Short Seller's Journal. Dave says he looks for macro trends where entire industries bomb earnings and Dave looks for the worst companies of an industry to short. Jason ans Dave then discuss why many prominent value investors also short companies besides buying bargain value stocks.
To wrap up the interview Jason asks Dave about a bottom in gold and gold mining stocks and what the global economy and US may look like 10 years from now?
Dave thinks gold stocks are very attractive to purchase on dips right now and Dave is buying juniors for extra leverage.
Dave says he has no idea what the world will look like 10 years from now because of the totalitarian policies from politicians and bankers making things worse on basically a daily basis.
