Keiser Report: Reflexivity & Passive Investing (E1491)

Keiser Report: Reflexivity & Passive Investing (E1491)

In this episode of the Keiser Report, Max and Stacy look at ‘reflexivity’ and whether or not higher and higher stock prices are driving prices higher as buyers chase the markets higher without any consideration of fundamentals. On top of that, we have the rise of passive index funds which are the opposite of value investors as passive investors don’t look at any fundamentals but merely buy a basket of the highest performing shares in whichever sector they are investing.

In the second half, Max continues his talk with Egon von Greyerz of about value investors like Warren Buffett sitting on huge piles of cash while passive index funds gobble up the market. They also discuss the latest in the gold market.

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  1. Destroy fear and greed before it destroys us. I've enjoyed watching KR since the beginning. Thank you for all your insights over the years. You guys are the best financial news show hands down. Was Wall St. Journal telling everyone to buy bitcoin at .45 cents? How about New York Times? Nope, but Kaiser and Stacy were. We have been been blitzed with financial and political propaganda throughout the mainstream channels that preach the gospel of fear, greed, and division that help fuel these bubble ponzi schemes for their private gain while most of society suffers the consequences. Privatized gains socialized losses.

  2. Investopedia states:

    "Equity-based ETFs are similar to mutual funds in that they own shares outright for the benefit of fund shareholders. An investor who purchases shares of an ETF is purchasing a security that is backed by the actual assets specified by the fund’s charter, not by contracts based on those assets. This distinction ensures that ETFs neither act like nor are classified as derivatives.

    While ETFs are generally not considered derivatives, there are exceptions. Recent history has seen the rise of numerous leveraged ETFs seeking to provide returns that are a multiple of the underlying index. For example, the ProShares Ultra S&P 500 ETF seeks to provide investors with returns that equal twice the performance of the S&P 500 index. If the S&P 500 index rose 1% during a trading day, shares of the ProShares Ultra S&P 500 ETF would be expected to climb 2%. This type of ETF should be considered a derivative because the assets in its portfolio are themselves derivative securities."

  3. I still recall the glee and delight Keiser predicted the total collapse of the UK after we had voted to leave the EU, and although I appreciate he has great insight into the financial markets I tend to believe he leans towards the sensational at times. But then why wouldn't he? No one wants to listen to boring statistical reports in an age of fast and loose entertainment.

  4. It's interesting that some experts (this time Egon) are beginning to dare once again to speculate on time frames for some parts of the coming collapse. At the end of the interview, Egon says here that he expects the dollar to collapse this year. Max, it would be great if you could push a bit more on your guests to talk about the timing for the events that we suspect will take place in the not-too-distant future.

  5. 22 January 2020. Is Palladium taking the place of gold?! Palladium just rose $132.50 per ounce to $us 2,600 ounce. I thought Gold would be moving up like this? I am ignorant of most economic and monetary doings. Is this manipulation of metals to keep gold under a certain price? What is going on?
    Thank you

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