Christopher Joye: The RBA got it wrong, now it will crush everything...
Coolabah’s Chief Investment Officer, Christopher Joye, sits down with the host of Livewire’s The Rules of Investing Podcast, David Thornton, diving into important topics such as:
- the RBA’s latest rate decision,
- the dire outlook for Australia’s housing market, and
- how Coolabah generate returns by exploiting mispricing in the bond and cash markets.
Along the way, you’ll get a front row seat into the inner workings of an active bond fund. Chris also spins a yarn about the time he challenged GMO’s Jeremy Grantham to put his money where his mouth is.
Note: This episode was recorded on February 8, 2023.
You can listen on:
Timestamps
- 2:30 – The RBA hikes rates to a 10 year high
- 6:00 – Pain on the way for the Aussie household
- 10:00 – A problem in the RBA’s models
- 12:50 – Housing to fall by 30%
- 18:55 – Maintaining central bank credibility
- 22:00 – Zombie haunt the ASX
- 26:00 – Wait for the risk-free rate to do its work
- 27:26 – Challenging GMOs Jeremy Grantham
- 38:30 – How to short the housing market
- 31:30 – Hunting for mispriced bonds
- 38:00 – The inefficiency of the over-the-counter bond market
- 41:20 – How Coolabah builds its portfolios
- 46:00 – Navigating 2022
- 48:00 – Choose your hedges wisely
- 57:00 – How the NSW Government becomes a hedge fund
- 59:30 – The best value in bond and cash markets
Disclaimer: This information is suitable for wholesale investors only and has been produced by Coolabah Capital Institutional Investments Pty Ltd ACN 605806059, which holds Australian Financial Services Licence No. 482238 (CCII). The views expressed in this recording represent the personal opinions of the speakers and do not represent the view of any other party. The information does not take into account the particular investment objectives or financial situation of any potential listener. It does not constitute, and should not be relied on as, financial or investment advice or recommendations (expressed or implied) and it should not be used as an invitation to take up any investments or investment services. Whilst we believe that the information discussed in the podcast is correct, no warranty or representation is given to this effect, and listeners should not rely on this information when making any decisions. No responsibility can be accepted by CCII to any end users for any action taken on the basis of this information. Any performance data presented on this site is pre-fees for institutional clients that negotiate custom fee rates, and these solutions are not available to retail investors. No investment decision or activity should be undertaken without first seeking qualified and professional advice. CCII may have a financial interest in any assets discussed during the podcast. Listeners in Australia are encouraged to visit ASIC’s MoneySmart website to obtain information regarding financial advice and investments.
