Citi's Dirk Willer on Why You Buy the Bubble | #654

My guest today is Dirk Willer, Head of Global Macro, Asset Allocation and Emerging Market Strategy at Citi.

In today’s episode, Dirk says we’re in an AI bubble and why that’s a reason to buy, not sell. He shares why the bond selloff relates to growth rather than deficits, how the Warsh Fed echoes Greenspan and why Brazil is one of his favorite markets.

To close, Dirk shares his best hedges for when the bubble finally bursts.

(0:00) Dirk Willer

(3:52) Trading Bubbles and Fed Liquidity

(9:10) Sponsor: Upwork

(9:51) The Fed Cycle and Bond Timing

(13:45) Treasury Supply and Treasury Myths

(20:25) Dollar Strength and Global Macro

(25:10) Brazil, Asia, and China

(32:06) Sponsor: Meb Faber

(32:46) Gold, Copper, and Macro Signals

(40:00) Bubble Indicators and Hedging

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Sponsors:⁠⁠ (upwork.com)

Upwork⁠⁠ (upwork.com) is the world's largest human and AI-powered freelance marketplace to hire top talent—trusted by businesses and professionals worldwide.

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Past guests include Ed Thorp (mebfaber.com/2017/02/08/10017), Richard Thaler (mebfaber.com/2021/08/04/e337-richard-thaler), Jeremy Grantham (mebfaber.com/2021/02/08/episode-286-jeremy-gra…), Joel Greenblatt (mebfaber.com/2020/10/28/episode-260-joel-green…), Campbell Harvey (mebfaber.com/2019/08/28/episode-172-cam-harvey…), Ivy Zelman (mebfaber.com/2022/03/30/403-ivy-zelman), Kathryn Kaminski (mebfaber.com/2021/05/12/e310-kathryn-kaminski), Jason Calacanis (mebfaber.com/2017/08/30/episode-69-jason-calac…), Whitney Baker, (mebfaber.com/2022/01/31/e387-whitney-baker) Aswath Damodaran (mebfaber.com/2019/05/10/episode-155-aswath-dam…), Howard Marks (mebfaber.com/2018/10/03/episode-124-howard-mar…), Tom Barton (mebfaber.com/2018/10/10/episode-125-tom-barton…), and many more.

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Editing and post-production work for this episode was provided by The Podcast Consultant (thepodcastconsultant.com).