WealthTrack always provides some good interviews. This week’s interview with Matthew McLennan i felt, is a good share because Matthew McLennan provides insights into how a value manager looks at the issues in the world in a controlled manner. So you won’t get some extreme point of view but a logical reasoning of gold and energy.

 

  • 4:00: Financial Repression or too much debt
  • 4:52: Competition for resources where developing market want what developed economies have, finance by debt
  • 6:40: Cash in sovereign and low real interest rate
  • 7:40: Russia risky situation and China risky situation
  • 9:40: They are 20% cash and 10% gold stocks. Why with such a dire outlook they still have 70% in equities?
  • 11:20: View of equities. Margins and multiples are high and future expected returns.
  • 12:22: How do they define scarcity or moat
  • 13:30: Their view of Gold as money
  • 15:20: Their investment process. Their wish …