Enjoyed interview. My gut feel (50/50 best) after 30+ years on bond floors this equity market will end the week slightly lower. Hope I am wrong, because I am long, but I plan to keep my finger on the trigger. Profit is a terrible thing to waste. Far better to get out too early than too late. Have a week of gratitude.
"Far better to get out too early than too late" is a wisdom many armchair investors don't fully appreciate until it becomes "too late". Thanks for reminding folks of it!
I hate the phrase, but I suggest Lance "stay in his lane". He is treated as an expert and then makes ludicrous statements outside his area of expertise.
E.g. at 1:03
"together collectively and plant a billion trees so we've got 330 million Americans if we'd all go plant Three Trees we'd have a billion trees that would pretty much absorb your CO2 problem at just a natural cost right so we just plant a bunch of trees or we can pass a policy that says oh you have to
drive an electric vehicle so we're going to give you a subsidy to go buy an ..."
Even 1000x Lance's billion trees isn't enough. And hasn't t work anyway when funded by a billionaire (SalesForce's Marc Benioff). It's just a talking point made up by the fossil fuel industry to shift responsibility from themselves to others to preserve the wealth of rich shareholders and executives.
Adam, I love hearing Lance's opinions on finance and trading - I assume he is trustworthy since you choose him as a guest. As an informed scientist I know he spouting nonsense about climate and appropriate government response (and no, I don't universally agree with US policy etc). I don't know finance, but now I'm not sure Lance is trustworthy there either - he sounds equally confident about finance as when he is opining uninformed garbage about climate.
As an earth scientist, we need to be aware that science is also the new religion. Being wrong is no biggie compaered to just accepting the narrative of staying in your lane and not questioning the high priests of science... There are a handful of models created to model input and outputs regarding climate... Select ones are being pushed after being policitized into justification for unlimited spending and taxation with unmeasurable results. How accurate are the handful of models of a complex climate systems? There are hundreds of millions of models whether crude or sophisticated to do with the future price of a stock (everyone who owns a stock has a view of the future).... How accurate are they? How accurate have been the experts during their recession call the last 2+ years in the most hated melt up rally. Dont ever just "trust the science" when much money is in play, we must verify and question the so called authorities. See history: scientists funded by tobacco industry, sugar industry... Lead to decades of harm.
I agree- in science beliefs should always be provisional. Trust but verify everything. That’s why I hate the phrase ‘stay in your lane’ because there shouldn’t be any lanes and everyone should have a voice. Unfortunately giving an opinion as an expert presenter gives a sense of authority. I notice Lance sounds like an expert on financial forecasts - qualified opinions , "maybe inflation will be …", "if the fed..." - but on climate, he's "the government is foolish for not just planting trees to remove carbon dioxide" - he is suddenly certain but was actually completely wrong
Enjoyed interview. My gut feel (50/50 best) after 30+ years on bond floors this equity market will end the week slightly lower. Hope I am wrong, because I am long, but I plan to keep my finger on the trigger. Profit is a terrible thing to waste. Far better to get out too early than too late. Have a week of gratitude.
"Far better to get out too early than too late" is a wisdom many armchair investors don't fully appreciate until it becomes "too late". Thanks for reminding folks of it!
I hate the phrase, but I suggest Lance "stay in his lane". He is treated as an expert and then makes ludicrous statements outside his area of expertise.
E.g. at 1:03
"together collectively and plant a billion trees so we've got 330 million Americans if we'd all go plant Three Trees we'd have a billion trees that would pretty much absorb your CO2 problem at just a natural cost right so we just plant a bunch of trees or we can pass a policy that says oh you have to
drive an electric vehicle so we're going to give you a subsidy to go buy an ..."
This is a naive and damaging opinion. Look up the 1 Trillion Tree projects. E.g. from FT https://ig.ft.com/one-trillion-trees/
Even 1000x Lance's billion trees isn't enough. And hasn't t work anyway when funded by a billionaire (SalesForce's Marc Benioff). It's just a talking point made up by the fossil fuel industry to shift responsibility from themselves to others to preserve the wealth of rich shareholders and executives.
Adam, I love hearing Lance's opinions on finance and trading - I assume he is trustworthy since you choose him as a guest. As an informed scientist I know he spouting nonsense about climate and appropriate government response (and no, I don't universally agree with US policy etc). I don't know finance, but now I'm not sure Lance is trustworthy there either - he sounds equally confident about finance as when he is opining uninformed garbage about climate.
As an earth scientist, we need to be aware that science is also the new religion. Being wrong is no biggie compaered to just accepting the narrative of staying in your lane and not questioning the high priests of science... There are a handful of models created to model input and outputs regarding climate... Select ones are being pushed after being policitized into justification for unlimited spending and taxation with unmeasurable results. How accurate are the handful of models of a complex climate systems? There are hundreds of millions of models whether crude or sophisticated to do with the future price of a stock (everyone who owns a stock has a view of the future).... How accurate are they? How accurate have been the experts during their recession call the last 2+ years in the most hated melt up rally. Dont ever just "trust the science" when much money is in play, we must verify and question the so called authorities. See history: scientists funded by tobacco industry, sugar industry... Lead to decades of harm.
I agree- in science beliefs should always be provisional. Trust but verify everything. That’s why I hate the phrase ‘stay in your lane’ because there shouldn’t be any lanes and everyone should have a voice. Unfortunately giving an opinion as an expert presenter gives a sense of authority. I notice Lance sounds like an expert on financial forecasts - qualified opinions , "maybe inflation will be …", "if the fed..." - but on climate, he's "the government is foolish for not just planting trees to remove carbon dioxide" - he is suddenly certain but was actually completely wrong
This was one of Mr Robert's more compelling missives. I am looking forward to these next interviews. Great lineup!
Can we nominate Lynn Alden for Treasury Sec?
I hate to be a downer but this is my least favorite guest. I know Lance is on every week, but this is the only episode I skip.
The weekend series paired with Nespresso and PopUpBagels. Doesn't get better.👌