| Grant Williams connected me with Evergreen Gavekal CIO David Hay many years ago, calling him “one of the good guys.” In this interview, David and I unpack the future of nuclear energy and oil & gas investing, along with the trouble in China’s stock and real estate markets. David adds to my long list of reasons why China is un-investable right now. He also shares a specific investing signal we should all watch—and deems it “the most important thing” in our conversation. It’s a technique endorsed by Paul Tudor J ones. You will also hear about the opportunities David sees in Japan, the ticker of an insurance company David likes right now, and why he’s personally invested in molten salt small nuclear reactors. For all of us following the nuclear energy revival, David recommends reading The First Nuclear Era: The Life and Times of a Technological Fixer by Alvin M. Weinberg. David Hay writes a Substack called “Haywire.” He’s also published a book on Substack called Bubble 3.0. Go here to learn more about David Hay: https://evergreengavekal.com/team/david-hay/ Get David Hay’s Substack “Haymaker” here: https://haymaker.substack.com Go here to subscribe to Global Macro Update: https://www.mauldineconomics.com/go/JM528U/YTB Follow Ed D’Agostino on LinkedIn: https://www.linkedin.com/in/ed-d-agostino-415475296/ Download the Mauldin Economics App here: https://community.mauldineconomics.com/download-app Time stamps: 00:00 – Introduction 04:52 – The third bubble 08:17 – The future of oil and gas investing 16:01 – Opportunities in nuclear energy 19:25 – The economics of small nuclear reactors 23:01 – More reasons not to invest in China 28:18 – What could trigger a rally in China’s markets? 31:27 – Solutions to the US deficit |
Each week, investors and financial professionals around the globe turn to John Mauldin to better understand Wall Street, global markets, and the drivers of the world economy. And for good reason. John is a noted financial expert, a New York Times best-selling author, a pioneering online commentator, and the publisher of one of the first publications to provide investors with free, unbiased information and guidance—Thoughts from the Frontline—one of the most widely read investment newsletters in the world.
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