Evergreen Exchange

Episode 4 - The U.S.-China Showdown

An episode of Evergreen Exchange

By Evergreen Gavekal
About
We interview some of the most well-respected minds in finance, while also traversing personal and general life topics. At the very least, you'll sound smarter at dinner parties.
More places to listen
We interview some of the most well-respected minds in finance, while also traversing personal and general life topics. At the very least, you'll sound smarter at dinner parties.
www.evergreengavekal.com

More places to listen

Episode 5 - Cannaboom or Cannabust?
If expeditioners stumbled upon this plant deep in the Amazon, what would be our reaction to it? Are the non-THC applications being undervalued or overlooked? How has legalization affected access for minors? What are the consequences we can expect to see from vaping? This episode will attempt to answer your most burning questions about the future of cannabis and investments in the space. Evergreen CEO, Tyler Hay interviews Josh Rosen, CEO of 4Front Ventures. 4Front is a US cannabis investment company, traded on the CSE and OTC markets. Rosen's background was as a equity analyst and portfolio manager at Credit Suisse before he started in private equity and eventually focused in on cannabis investments. DISCLOSURE: Some employees and clients of Evergreen have an ownership interest in 4Front Ventures as of the date of this podcast.  This material has been prepared or is distributed solely for informational purposes only and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy. Any opinions, recommendations, and assumptions included in this presentation are based upon current market conditions, reflect our judgment as of the date of this presentation, and are subject to change. Past performance is no guarantee of future results. All investments involve risk including the loss of principal. All material presented is compiled from sources believed to be reliable, but accuracy cannot be guaranteed and Evergreen makes no representation as to its accuracy or completeness. Securities highlighted or discussed in this communication are mentioned for illustrative purposes only and are not a recommendation for these securities.
54:50
October 24, 2019
Episode 4 - The U.S.-China Showdown
Subscribe to our weekly e-newsletter: blog.evergreengavekal.com Last Friday subscribers read Gavekal Research's piece, Investing for a New Cold War. Today on the Evergreen Exchange, listen to Evergreen CEO Tyler Hay interview Gavekal founder Louis Gave on this topic and more, complete with thought-provoking debate and lively banter. The conversation between Tyler and Louis provides clarity on an issue that has dominated the news during Trump's presidency: will China surpass the U.S. as the world's greatest economic superpower?  Louis built his career in Hong Kong and was once even called one of the “smartest men in Asia” by Bloomberg. If you have a WSJ subscription, read his most recent interview with Barron’s: bit.ly/2xIXPbn Listeners can skip through the sections indicated below if they wish to revisit points or only hear certain topics. 3:00 Is this the new face of war?  4:15 The current tensions with China are not the beginning of WWIII, but rather a new cold war. 5:45 Chinese people’s view of the U.S. was one of admiration until recent rhetoric portrayed the U.S.’s overarching goal as stifling China’s economic growth. 11:30 Trump has shifted his focus sharply toward trade tensions to detract attention from more concrete unfulfilled campaign promises—literally concrete ones, such as the border wall. 14:00 The tech sector wanted better intellectual property rights enforcement; they were not prepared to be the battleground. 17:00 More Chinese young adults are attending college than their American counterparts, and there are approximately 10x as many pursuing degrees in S.T.E.M. (science, technology, engineering, mathematics) fields.  25:00 China fell into communism after 125 years of social unrest, as a protection against cultural instability. Now it has become apparent that China is a profoundly capitalistic country on which socialism was imposed. We are experiencing the correction of that misalignment. 38:00 There is no way to know what a potential deal with China would look like, as it will be completely dependent on who Trump runs against in the 2020 election. If it’s Biden, Trump would seek to demonstrate superior foreign negotiation skill. If it’s Bernie, he’d seek a deal that reinvigorates loyalty with the working class. The trade war is a tool for his reelection campaign.  41:00 We must decide whether or not we believe that central banks create wealth. Does encouraging one to spend tomorrow’s money today promote sustainable growth?  46:00 Increasingly, countries who trade with China are basing their currency against the renminbi, negating the trade of U.S. dollars. It is possible that we are seeing the peak of the dollar.  DISCLOSURE: This material has been prepared or is distributed solely for informational purposes only and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy. Any opinions, recommendations, and assumptions included in this presentation are based upon current market conditions, reflect our judgment as of the date of this presentation, and are subject to change. Past performance is no guarantee of future results. All investments involve risk including the loss of principal. All material presented is compiled from sources believed to be reliable, but accuracy cannot be guaranteed and Evergreen makes no representation as to its accuracy or completeness. Securities highlighted or discussed in this communication are mentioned for illustrative purposes only and are not a recommendation for these securities. Evergreen actively manages client  portfolios and securities discussed in this communication may or may not be held in such portfolios at any given time. Louis Gave’s has an equity ownership in Evergreen. Louis’ views and opinions are his own, and are not necessarily the views of Evergreen. 
52:51
July 11, 2019
Episode 3 - Interview with Grant Williams at Mauldin SIC
Evergreen Gavekal CEO, Tyler Hay, interviews Grant Williams, author of Things That Make You Go Hmmm, co-founder of Real Vision TV, and long-time friend of the firm, from the 2019 John Mauldin Strategic Investor Conference in Dallas Texas. Listen to hear his perspective on a broad range of topics about the global economy, as he and Tyler debrief on the most thought-provoking speeches and interviews given at the conference.  DISCLOSURE: This material has been prepared or is distributed solely for informational purposes only and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy. Any opinions, recommendations, and assumptions included in this presentation are based upon current market conditions, reflect our judgment as of the date of this presentation, and are subject to change. Past performance is no guarantee of future results. All investments involve risk including the loss of principal. All material presented is compiled from sources believed to be reliable, but accuracy cannot be guaranteed and Evergreen makes no representation as to its accuracy or completeness. Securities highlighted or discussed in this communication are mentioned for illustrative purposes only and are not a recommendation for these securities. Evergreen actively manages client portfolios and securities discussed in this communication may or may not be held in such portfolios at any given time. Louis Gave’s has an equity ownership in Evergreen. Louis’ views and opinions are his own, and are not necessarily the views of Evergreen.
50:09
May 30, 2019
Episode 2 - Tyler & David
In this episode of Evergreen Exchange, Evergreen CEO, Tyler Hay, interviews CIO, David Hay, on his early professional life, current hobbies, and investment philosophies. If you are a frequent reader of the Evergreen Virtual Advisor, you are likely already familiar with David's take on where we're at in the current market cycle and economic policies like MMT. This podcast takes listeners behind the curtain to get to know David Hay more personally and hear his point of view on the current state of the U.S. economy.  DISCLOSURE: This material has been prepared or is distributed solely for informational purposes only and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy. Tyler Hay, David Hay and Louis Gave have investments in Aedelhard; this is not a recommendation or offering for an investment in this company. Any opinions, recommendations, and assumptions included in this presentation are based upon current market conditions, reflect our judgment as of the date of this presentation, and are subject to change. Past performance is no guarantee of future results. All investments involve risk including the loss of principal. All material presented is compiled from sources believed to be reliable, but accuracy cannot be guaranteed and Evergreen makes no representation as to its accuracy or completeness. Securities highlighted or discussed in this communication are mentioned for illustrative purposes only and are not a recommendation for these securities. Evergreen actively manages client portfolios and securities discussed in this communication may or may not be held in such portfolios at any given time. Louis Gave’s has an equity ownership in Evergreen. Louis’ views and opinions are his own, and are not necessarily the views of Evergreen.
1:01:34
May 11, 2019
Episode 1 - Tyler & Louis
In our pilot episode, Evergreen Gavekal CEO, Tyler Hay, hosts finance phenom Louis Gave to dish on the current economic climate and a variety of personal topics.  DISCLOSURE: This material has been prepared or is distributed solely for informational purposes only and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy. Tyler Hay, David Hay and Louis Gave have investments in Aedelhard; this is not a recommendation or offering for an investment in this company. Any opinions, recommendations, and assumptions included in this presentation are based upon current market conditions, reflect our judgment as of the date of this presentation, and are subject to change. Past performance is no guarantee of future results. All investments involve risk including the loss of principal. All material presented is compiled from sources believed to be reliable, but accuracy cannot be guaranteed and Evergreen makes no representation as to its accuracy or completeness. Securities highlighted or discussed in this communication are mentioned for illustrative purposes only and are not a recommendation for these securities. Evergreen actively manages client portfolios and securities discussed in this communication may or may not be held in such portfolios at any given time. Louis Gave’s has an equity ownership in Evergreen. Louis’ views and opinions are his own, and are not necessarily the views of Evergreen.
1:14:09
March 28, 2019
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