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Show Notes:
Global recession is being talked about literally everywhere. Between the gas pump and groceries alone you can't help but feel the tension rising.
Raoul Pal, a former hedge fund manager that retired at the age of 36, serial entrepreneur, and global macro investor expert is joining Tom for a second time to discuss the realities people need to be aware of to thrive in a global recession.
A word of wisdom he shares that was passed on to him is, 'he who has cash in a recession is king.' The bottom line Raoul is openly sharing is that income and the ability to advance on opportunities makes all the difference.
'Buy when there's blood in the streets, even if the blood is your own.' - Nathan Rothschild
Having a solid work ethic, a strong (and maybe unreasonably optimistic) belief, coupled with income and the knowledge to look for moments of extreme weakness to buy and make moves, without leverage, against opportunities can get you to the other side of this crisis potentially better off than when it all began.
You get to decide what to focus on. Will it be the existential global crises or the opportunities most are too scared to see or take advantage of?
Recommended Reading:
William Strauss and Neil Howe, The Fourth Turning: https://www.amazon.com/Fourth-Turning-History-Americas-Rendezvous-ebook/dp/B001RKFU4I
SHOW NOTES:
0:00 | Introduction to Raoul Paul
1:10 | The Makings of a Global Recession
12:30 | Money Market & Loanable Funds
21:00 | Debt and Leverage Explained
32:56 | Stopping the Economic Implosion
47:23 | Death of the American Dream
54:47 | Opportunity for Growth
1:09:36 | Thriving In Volatile Markets
1:18:39 | Changing Global Order
1:28:37 | How Raoul Increases His Options
QUOTES:
'Prices rising, inflation, is evil for our savings because the dollar in your bank account is worth less in a year's time.' [3:03]
'As prices go up, the economy slows down [...] and therefore it becomes self regulating, and it becomes that because people are quite in debt.' [11:16]
'Leverage allows you to borrow future money to use now [...] We're trying to meet the expectation of our future selves always, that's what drives humans.' [22:11]
'This is what people don't understand about leverage. You don't own that thing, you only own it when you pay it off.' [26:35]
'Everyone's got debts cause we borrowed for our future selves.' [37:58]
'Humans have a propensity to borrow to create the image of this future self. [...] that dream we had in the 50s, that dream died decades ago, and to fund that dream, the mismatch between the dream and the reality is debt. Sometimes debt is not all bad. Sometimes it can help accelerate some of the things, but if you're doing it to fund a dream that is never going to exist, that's the danger.' [47:23]
'Focus on your income, work hard, look for other opportunities that can leverage that income and opportunity set that you've got for you, [...] look for investment opportunities that can change my life.' [57:51]
'You can't be in it to win it if you've got leverage, or if you're out of the market.' [1:05:52]
'Where are we in the volatility, and is this going to survive? [...] and if the long term trend is there, then you should be buying into all of this.' [1:13:18]
'Change is happening, and you can fear it, but you're not going to stop it.' [1:25:53]
'Always out of bad times eventually is the good times, and it's the same with investing. That cycle is pretty common, and it's a very human trait.' [1:28:24]
Follow Raoul Paul:
Website: https://www.realvision.com/
Twitter: https://twitter.com/RaoulGMI
Instagram: https://www.instagram.com/raoulgmi/
YouTube: https://www.youtube.com/channel/UCBH5VZE_Y4F3CMcPIzPEB5A
