Lewis Johnson of Capital Wealth Advisors on Deglobalization, Changing Trends, and a Return to Value (EP.229)
My fishing buddy, Lewis Johnson, is back for his third round of Panic. As I’ve been saying frequently now, I’m just having friends on the podcast. People who have seen things that interest me, not famous – or infamous – people, for the sake of their fame. While Lewis isn’t particularly famous, he’s a steady hand and understands diversification and how cycles work. We touch on the “Bernie Madoff” moment that is now FTX. Lewis isn’t really active in crypto, but has been watching it play out. Swindles go on all along, and in a bull market no one seems to care. A bear market is the usual catalyst for these frauds. People start wanting their money back. We’ll check back with Lewis in three to six months, because this show is still about how we position ourselves; and he’s got a vision of how the world might look moving forward. Guest - Lewis Johnson, CIO at Capital Wealth Advisors howardlindzon.com, capitalwealthadvisors.com blog.capitalwealthadvisors.com/trends-tail-risks Twitter: @howardlindzon, @PanicwFriends, @TrendsTailRisks, @knutjensen linkedin.com/in/lewismjohnson #fintech #invest #investment #venturecapital #stockmarket #finance Show Notes: Introduction (00:35) Welcome back Lewis (06:31) Cryptos “Madoff” moment (07:04) Book: Manias, Panics and Crashes (07:45) Fundamentals & Valuation (10:10) Michael Lewis & SBF (12:10) Bond returns (15:12) The deglobalization cycle (19:51) Fed raising rates (25:05) Gunslingers & Bean Counters (26:16) ‘Wall Street’ gets a vote (29:15) Current market leadership (29:51) Rate sensitivity (31:22) Tech meltdown (33:26) A capital cycles framework (34:51) Where to look for the next cycle (37:05) The ‘capital starvation’ cycle (38:30) Wrapping up (39:42) Closing thoughts (43:35)