Mike Green Talks Inelastic Markets with Benny & The Squirrel

Benny & The Squirrel: Ep. 20

This week Benny & the Squirrel were joined by Mike Green, Chief Strategist of Simplify Asset Management, High Yield Portfolio Manager, and author of “Yes, I give a fig…” blog here on Substack. We recorded this show on Thursday the 29th of January and have included a YouTube link to the show below. I am still working in Dubai this week, which made coordinating time zones with Mike and The 🐿️ an extremely difficult “3 Body Problem”, but we were able to overcome it and produce one of our best episodes yet for Benny & The Squirrel.

I met Mike last summer Hugh Hendry’s Acid Capitalist Summer Camp and we immediately got along well. Most of you are familiar with Mike and his work on Passive Management’s disruptive effects on equity markets. In this episode we go back to the beginning of Mike’s journey down that path with his legendary short of the XIV etf and move into the core of “The Inelastic Market Hypothesis”. We extend Mike’s framework a bit and review how we are seeing inelastic markets everywhere now - well beyond just the equity markets.

It was a great timing for the show with historic -38% dralwdown in silver that occurred over 24 hours move in Silver just beginning as we were filming only to complete what a “Sharpe World” high priest were call a 10 standard deviation event. Well I invite you to watch the episode and learn how the silver chart could look so similar to the XIV chart and why its far from a “Once in 359 Quintillion Years” event. We also touch on JGB’s, Gold, and finish with the credit markets. Mike was truly great here and we managed to have some fun along the way.

Enjoy!