As many readers of mine already know, I am not a big fan of mainstream financial media. I think most of what is offered on CNBC and other outlets does more to clutter and confuse the mind rather than provide insight and clarity. I have, for the most part, eliminated watching these types of investment shows from my routine. Where I have made a notable exception is for RealVision TV.
'RealVision TV is a subscription - based video-on-demand channel for investing, where the world’s best investors share their ideas. In essence, they are the Netflix of Finance. Their content features exclusive in-depth interviews and presentations from the world’s sharpest independent analysts, fund managers, investors and economists. Fresh content is released several times each week and subscribers also have access to the ever-expanding video vault. RealVision presents its viewers with the very best economic information and financial insight available and then allows them to make up their own minds.
RealVision is the brainchild of co-founders Raoul Pal and Grant Williams. Pal, an economist and strategist, has been a semi-regular guest on CNBC. Grant Williams has 30 years of finance / trading experience mostly on the trading desks of Singapore and Hong Kong.
I have been a subscriber of RealVision TV for almost a year. At $365 / year it isn't particularly cheap but I still find it offers a nice value. As long-time readers of mine know, I get great inspiration and knowledge reading about Market Wizards. RealVision offers me the opportunity to tune into the Market Wizards of today and listen to what they have to say. I mean, where else would you get to hear an hour long interview with Jeff Gundlach or Kyle Bass? RealVision has also introduced me to many titans of the trading world that I'd never heard of before. I've learned so much listening both to their perspectives on the world and them describe their trading processes.
RealVision does a nice job of covering a diverse cross-section of the investment landscape from precious metals, equities, bonds, portfolio construction, monetary & fiscal policy, commodities and currencies. There is certainly something for everyone at RealVision. Best of all there does not seem to be a hidden or obvious agenda here. Certainly guests have opinions and freely share them, but they are not out there trying to sell anything. Viewers are left to make up their own minds without any arm twisting. The site keeps content fresh by adding 2-3 lengthy interviews each week. The site also offers a searchable database of content which is handy when you find a guest or topic that you'd like to dig deeper on.
If however you are looking for specific trade ideas I think you would be disappointed. The most you are going to get is that, for instance, Kyle Bass is bearish on China. He will lay out his thesis with nice detail but he isnt going to tell you exactly how to short the Yuan or the Chinese financial sector. The site offers much in the way of global macro trends and trading ideas which for me is a useful addition to my primarily technical approach.
My subscription to RealVision TV will be up for renewal soon. I plan to re-up for another year.
RealVision offers a free one -week trial, but after that, they ask you to pony up for a full year in advance. It would be nice if they offered a pay as you go subscription but that is mostly nit-picking around the edges.
You can find out more by visiting their website: www.realvision.com/trial/regular
Disclosure: I received no compensation from RealVision TV for this endorsement.
The $TED spread is the difference between the 3 month LIBOR rate and the 3 month T-Bill rate. The TED spread is a proxy for perceived inter-bank credit and liquidity risk. As you can see, in 2008-09 the TED spread ballooned as credit markets locked up and liquidity dried up.
Today, the $TED spread stands at its highest level since 2009. Additionally, the volatility in the spread is increasingly getting jiggy as the steepness of the ascent sharpens. The why's, what-fors, and how comes are way above my pay grade but I can say for sure it is not a data point that can be ignored.