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Resolve's Gestalt University

Dec 13, 2022

Our guest this week was Vincent Deluard, Director of Global Macro Strategy at Stonex. StoneX (formerly known as INTL FCStone) is an institutional-grade financial services network that connects companies, organizations, traders and investors to the global markets ecosystem through a unique blend of digital platforms, end-to-end clearing and execution services, high-touch service and deep expertise. Our conversation covered:


  • Comparing the narratives from other allocators
  • Is the Fed Pivot here now and will there be a soft landing
  • The rise of structural inflation since before COVID and where will it settle
  • Why the Fed is attempting to show that it “tried
  • Underestimating the strength of the economy
  • Accepting that Growth, Austerity or Inflation are the solutions
  • How China saved the Fed
  • Bubbles of Bubbles and Ponzi schemes vs fundamentally driven growth
  • Shifting from monetary to fiscal dominance
  • The effects of automation on labor requirements
  • Irrational American optimism vs European pessimism
  • Political influences on monetary policy and the challenges of “onshoring”
  • Adjusting the price, not the quantity
  • The effects of the rates of change
  • The possibility of equities and bonds returning to normal correlations
  • Pension funds, interest rates, central banks and commodities
  • The importance of diversified portfolios with sophisticated hedges
  • And much more


This is “ReSolve’s Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management Inc.


*ReSolve Global Inc. refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global Inc. is a registered person with the Cayman Islands Monetary Authority.