The Meb Faber Show
Welcome to The Meb Faber Show, where the focus is on helping you grow and preserve your wealth. Join us as we discuss the craft of investing and uncover new and profitable ideas, all to help you grow wealthier and wiser. Better investing starts here.
RenMac’s Jeff deGraaf: There Is Finally an Alternative to Stocks | #657
My guest today is Jeff deGraaf, Chairman and Head of Technical Research at Renaissance Macro Research and a Hall of Fame technical analyst. In today’s episode, Jeff starts in 1873 with the line that John Bull can’t stand 2% and explains why real yields above 2% mean investors finally have an alternative to stocks. He also shares why November has become the best month of the year. To close, Jeff covers why private credit is deteriorating and what the credit markets are signaling today. Learn more about [RenMac](https://linktr.ee/renmacllc)
Key Points
- Higher real yields are making bonds a legitimate alternative again, especially for investors who want return with less volatility than equities.
- When markets become one dimensional and everyone is focused on the same story, bubble risk rises and the better move is usually to let the trend run while preparing for the turn.
- Credit stress is starting to show up in private credit and lower quality corporate debt, suggesting financial conditions are tightening even if the broader economy has not broken yet.
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Transcript
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