Former top hedge fund manager, 20+ year Wall St veteran and founder of Minyanville http://www.minyanville.com/ Todd Harrison returned for another Wall St for Main St podcast interview.
During this 30 minute interview, Jason asks Todd about the global macroeconomic situation and what is happening in markets when countries like Japan and China print even more money than the US does.
Todd talks about market sentiment being very negative even though US stock prices still remain high and Todd expects a major stock price correction in the near future.
Jason and Todd talk about how markets have tested past new Fed Chairman and if Janet Yellen will be tested with a potential 1987 or 2007 style crash.
Jason then asks Todd about how in his last interview on a WS4MS podcast in 2012 he predicted a secular bull market in marijuana and how many marijuana stocks are up over 500% since then. Todd talks in details about why the bull market is occurring and the conditions he thinks are necessary for it to continue.
Finally, Jason asks Todd about the inflation vs deflation debate. Todd thinks we have both occurring simultaneously but thinks the people at the Fed clearly prefer to have inflation.
To wrap up the interview, Todd says he expects enormous volatility in all markets going forward because of the amount of global liquidity pumped into markets even though the Federal Reserve is tapering. He says the “little guy” will need to learn to hedge, adapt and be nimble or he should avoid investing or trading markets going forward.
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