#211: Investing in Macro Trends - James Fishback

This episode"s guest is James Fishback. He recently had a high profile (and highly meme"d) exit from David Einhorn"s Greenlight Capital.  He"s moved past the "head of macro" controversy, and is now focused on building his next venture, Azoria Capital. This episode James shares his insights on the current state of the macro economy, including his thoughts on U.S. inflation and the Federal Reserve"s monetary policy. We discuss actionable investment strategies around macro trends and what James has been paying attention to this year.  We dive into what this year"s election means for the economy and the differences between Trump and Biden, highlighting their contrasting economic policies. Lastly, we discuss Azoria Capital and how James is creating an investment vehicle that targets companies that are using a merit based approach vs the recent trends of embracing ESG and DEI.   Hope you enjoy the show! James" Twitter: https://x.com/j_fishback . . Timestamps: 00:00:00 - Intro 00:01:59 - Guest’s Introduction 00:02:04 - James" Social Media Success 00:03:00 - The Importance of Open Debate 00:05:29 - Investing in Macro Themes 00:12:49 - The Impact of Fiscal Stimulus on Inflation 00:18:42 - The Role of the Federal Reserve 00:22:46 - Rate Hikes and Their Effects 00:25:09 - The Fed"s Lemonhead Problem 00:27:16 - Rate Hikes and Their Real Impact 00:29:12 - The Impact of Rate Hikes on Wealth 00:32:41 - The Importance of Focusing on Shareholders 00:36:32 - The Process of Assessing Companies 00:37:23 - The Shift in Corporate Priorities 00:41:01 - Energy Transition and Green Investments 00:42:20 - Government Intervention in Energy Transition 00:44:48 - Consumer Choice in Energy Transition 00:45:39 - Free Market and Electric Vehicles 00:48:35 - Policy and Politics Discussion 00:50:04 - Potential Impact of Administration Change 00:56:56 - What is Azoria #jamesfishback #maxgagliardi #uselections2024 #energy #trump #biden #usinflation