Raoul Pal, founder of Real Vision after retiring at age 36 from running one of the world’s largest hedge funds, joins DoubleLine’s Jeffrey Sherman and Sam Lau on The Sherman Show. Mr. Pal discusses his career as a hedge fund manager before opting out of the “rat race” to create Real Vision with its mission to “democratize the best financial intelligence.”

Then among other topics, the discussion dives into Mr. Pal’s views on the “increasingly high probability of a global recession,” the U.S. president after the next election hitting “the nuclear fiscal stimulus button,” U.S. interest rates following those of Europe into negative territory, gold and Bitcoin as options in the event of “something really bad breaking,” the risk China may lose control of both the Chinese and Hong Kong currencies, the conflict between China and the U.S. over intellectual property and technology and the rise of cryptocurrencies.

In a world largely caught between slowing growth, aging populations and massive debt, Mr. Pal also identifies the region which is the exception, with young populations, strong savings rates, low debt and strong growth: India and the Islamic trading nations around the Indian Ocean.

The podcast episode was recorded September 26, 2019.