This week on the podcast Grant and Sean discuss the SpaceX IPO, the recent supreme court ruling that President Trump cannot fire Fed Governor Lisa Cook for cause, the impacts on incoming Chairman Warsh, and Microstrategy’s current bitcoin position. We also review and article about rising margin debt from the Wall Street Journal, and interesting moves in the dollar, oil, and gold.

 

 

Show Notes

[01:38] Market Update – Market changes in the month of June.

[03:23] Article of the Week – Wall Street Journal’s article on the unprecedented growth of leveraged funds and margin debt.

[07:40] Fed’s Institutional Independence – Grant and Sean share their opinion on the importance of the Federal Reserve’s independence from presidential influence.

[12:40] New Federal Reserve Chair – The signaling of a new shift in both monetary policy communication and institutional leadership.

[21:18] Innovation-Driven Investing – Grant and Sean talk about the opening of entirely new economic frontiers by the advances in space technology and commercialization.

[26:06] SpaceX – Valuation, IPO dynamics, and uncertain future of SpaceX.

[32:44] Bitcoin Treasury Companies – Grant and Sean explain how an aggressive financing model can become vulnerable when cryptocurrency prices stop rising.

[42:33] Flashy Object of the Week – Grant and Sean emphasize the importance of investors staying disciplined rather than chasing the latest excitement.

Resources

Stock Indexes Are Contorting Themselves to Include SpaceX and OpenAI

wsj.com/finance/stocks/stock-indexes-are-contorting-themselves-to-include-spacex-and-openai-92136b13