ep. 158

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The Era of American Stock Dominance Is Over | Kevin Muir

In December 2021, Kevin Muir, veteran trader and author of The Macro Tourist, came on Forward Guidance and made a series of bold predictions all of which came true. Now, with a red carpet rolled out for him, Kevin returns to Forward Guidance to share his predictions for 2023.


Kevin argues that U.S. stocks will underperform foreign equities, that 2023 will be far more “boring” than investors expect, and that deep trouble is brewing in private markets (venture capital, private equity, and private debt). Kevin also contends that the economy might fare better than many anticipate, and that bank stocks will do well.


Filmed the afternoon of January 6th, 2023.

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Follow Kevin Muir on Twitter https://twitter.com/kevinmuir

Kevin Muir’s newsletter, The Macro Tourist, can be found here: https://themacrotourist.com/

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Kevin’s interview on Forward Guidance in 2021: https://www.youtube.com/watch?v=gJkEokqqaKM&t=400s

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This episode is sponsored by Curve. Curve is unlike any other credit card. It gives you the power to connect multiple credit and debit cards into one, convert your cashback into crypto rewards, Go Back in Time ®, create Smart Rules, and more. Apply now through https://link.curve.com/forward_guidance, you’ll earn $20 in Curve Cash after your first transaction. So sign up today! Terms and conditions apply.

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Timestamps:


(00:00) Introduction

(00:27) The Fed

(05:43) When Will Recession Come (If At All)?

(13:32) 2023 Will Be More Boring Than People Expect

(18:09) The Bond Market Pain Might Continue

(25:01) Where Is The Terminal Rate?

(29:25) Curve Ad

(30:26) The Era of U.S. Equity Outperformance Is Over

(47:42) There Will Be Trouble In Private Markets

(01:00:54) The Tide Is Out, Who Will Be Left Swimming Naked?

(01:08:06) The Banks Will Do Fine

(01:13:57) Outlook on Crypto

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Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

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