Episode #1 - Grant Williams
Roger explores some of the lessons Grant has learned over the years of interviewing some of the brightest minds in markets.
Watch on YouTube or listen on Spotify.
IN THIS EPISODE
- I discuss with Grant some of the lessons he's learned from years of interviewing the brightest minds in markets, and how those discussions have helped form his framework for learning from others' mistakes, and how humility and flexibility are the cornerstones of his process.
- The multidecade build-up in debt is going to matter at some point, and the potentially catastrophic events that ensue is something that, while impossible to time, will wipe out those who are not taking the time to understand the risks.
- Zero Interest Rate Policy (ZIRP) underpinned the outsized returns in private equity over the last few years, but now large pools of capital (think pension funds) may be reconsidering the asset class with rates significantly higher than they've been in decades. This shift will affect both institutional and retail investors in a big way.
- Inflation has become entrenched - people are starting to understand that it's here to stay, even if we get a lower rate of change, and sooner than later this is going to cause behavioral changes that will metastasize through the system.
- For most people, the next phase of the business and macro cycle, which have only just begun, will likely be one of the most difficult periods of time to invest through in recent memory.