“You can turn off your CNBC, you can turn off your Bloomberg terminal, you can sit back, you can crack one open, you can spark one up, and you can listen to the QTR podcast – we’re gonna tell you’re really, what the f**k is actually going on in the financial world.”
That’s an offer I can’t refuse when Quoth The Raven Podcast features a man I sat elbow to elbow with for half a decade at Goldman Sachs, the man who runs Fast Money on CNBC, and a man who has the combination of being well spoken and Hollywood handsome – Mr. Guy Adami.
Guy is a Statesman. He’s a financial craftsman and a tactical conversationalist. Guy is a master storyteller. Guy is a speaker who is a master of pronunciation, enunciation, and cadence. I could listen to Guy Adami speak for 24 hours straight and be as engaged in hour 24 as I was in hour 1.
As a pleasant buzz kicked in and I started to feel particularly infallible, I realized how Goddamn sobering the exchange was. There were moments when QTR and “GCA,” Guy Christopher Adami, as his monogrammed custom shirts read, went back and forth on the dangers of leverage where you look at your personal balance sheet, raise an eyebrow, cancel a payment on something, and give it back.
“When your parents and your grandparents grew up, you know they lived in a society that you bought what you could afford. We are now a society that buys what you can afford – THE PAYMENTS FOR.”
Guy enunciated it like Richard Burton as Mark Antony just to hit you in the gut with the logic, and he knew it. That’s what he does. Guy’s got a presence that lights up a ball room and stabilizes a trading room. You can tell I’m leading up to something.
Guy is nimble but frustrated with the fact that U.S. Debt to GDP is around 100% and in China they’ve gone berserk to something like 250%. “It’s pretty staggering what’s going on globally.” Guy is an outlier in that – as a contributor to the very network that gets worked over in the podcast – he’s very comfortable in his own skin so he will also speak his mind clearly. He sees the Fed prank that’s being pulled off and he’s not afraid to call it out. As a media personality, he knows what he says goes on record.
“One of the biggest villains of the 21st Century is going to prove to be Ben Bernanke.”
He doesn’t care. He banters right at the highest office and one of the most revered men in finance history in style. How much style? In the first weeks Guy joined our desk in the mid-90’s, Goldman Sachs made the transition to ‘business casual Friday.’ Guy would still stroll into the office in a dynamite suite, shoes, cuff links, matching socks, fastidiously cleaned designer eyeglasses and a gigantic smile. At roughly 6’2” in something Armani, every female on the floor sweated Guy. And so did half the males including me.
While eating breakfast one Friday I asked him why he stayed true to his fantastic dress code when given the chance to wear the Friday team uni of khaki’s and colored polo shirts. With his long legs crossed, he spun the chair toward me, leaned over and looked me straight in the eye. He said, “Because you dress casual, you trade casual.”
Guy was all business and revered among the most competent gold traders on Wall Street. I knew he wore his smile in every day because he had just been reunited with his best friend whom we recently hired on our desk, also from AIG Mr. Joseph Mazzella, one of the best commodity traders to ever work at the firm. We all reported to Super Trader Chris Carrera, who was a complete and total savage that we all loved and worked for like a brother. Why? Because beneath his slight yet sturdy exterior lies the sweetest Man you ever met in your life.
Yes, I got to spend 5 of the best trading years of my life on a desk with the top 3 members of my personal “Favorite Italians” list. Carrera, Mazzella, and Adami. We coulda started a catering business but that would have been a devastating loss for commodity markets. This was a dream team desk and I was blessed to have a seat on it.
I appreciate The Raven manning up and saying, “I had you wrong,” and recognizing that “Guy is with us.” In organized crime they’d say, “He’s a friend of ours,” to alert you that the person being discussed was also a ‘made man,’ so you should watch your step. The Raven is definitely one of us.
While Guy is a contributor to a financial television program aired nationally, he still a proud member of the resistance to the financial bullshit in the world and on TV. He’s truly one of us. We’re all tired of the propaganda machine feeding us the indoctrination that the Federal Reserve is an unbelievably equipped group, perfectly suited to handle our collective futures by man-handling economies and markets and then ‘Fedsplaining’ that it’s the exact right move. Why do the main stream media outlets in finance do what they do, programming you to believe UP is good for the stock market, DOWN is something, that is very, very bad? American Exceptionalism should know no down days.
The conversation about how bad the Federal Reserve’s actions are for the economy, and the wealth gap, “are conversations that will make your eyes glaze over, and it’s really not one that’s made for TV but as you know, TV is still an entertainment medium….If you really wanna go down this rabbit hole the Federal Reserve is and what it’s done, it’s really not that TV friendly.” Guy delivers his message from a position of strength and then offers that he’s happy to discuss it further.
They’re serving the propaganda to cover up dynamics like this. Here’s a Wall Street Journal article from this morning:
” New figures show the U.S. economy firing on all cylinders even as clouds may be forming on the horizon. The expansion was built on stronger consumer spending and business investment that economists say could set the groundwork for continued growth.” – Wall Street Journal. Sounds like our economy is running like a top to me.
Then this: *KAPLAN: FED BALANCE SHEET SHOULD BE AMONG FED TOOLS IN EVENT OF DOWNTURN
What. The. Hell. Is. Going. On. Here? The U.S. economy is firing but the Federal Reserve is conditioning people to understand that the “Fed Tools” will be brought out as soon as there is a dip in the economy. Has the Fed signaled, “That’s good,” on the S&P rally? Nobody has a clue as to what is going to happen next, but if the markets are O.K. with it, let us proceed?
“The Fed’s job is the dual mandate that we talk about all the time – full employment and, you know, monitoring inflation. I happen to think, and you can push back if you want – and I’ve said this on air so I’m really not talking out of school but I really think the Fed’s dual mandate is to make sure the Dow Jones Industrial Average and the Nasdaq goes higher every day.”
See that. Two guys that spent a lot of time in the trenches together think exactly alike. I know we’re not alone, but I know we’re not 100% of the market’s belief either. The bottom line on this podcast is that there are a lot of sobering views, great banter, and tremendous honesty. I just loved hearing the 3rd mandate confirmed by someone else I respect.
So here’s a good story about Guy.
One day we’re sitting on the desk at 85 Broad Street and I got thrown into the silver seat with Guy, the gold trader on my left. All of a sudden, I got caught short 500K ounces of silver, I lost a quick nickel on it to start my morning with a $25,000 tattoo on my face, and I started to lose track of my trades. There was NOTHING going on in gold, so Guy was silently watching what was going on. He was respectful in that he didn’t intervene until I asked for help.
“GUY CAN YOU HELP ME PLEASE!” My hair was on fire. I spun my posture to full intensity and Guy was as relaxed as could be. He said, “Look, how much are you short?” It was about 500K ounces and I just wanted to be OUT. Guy picked up the phone, and called his good friend in the market so as not to make a splash, “Bernard, could you do me a favor? Could you make me your very best offer on seven lacs of silver please?”
That was 700K ounces and I was only short 500K. When I tried to make sure Guy knew that, he didn’t even look at me, he was watching the screen and put his finger up in my direction, as in ‘Shhhhhhh.’
“You bought seven lacs of silver at $4.865 from James Pierpont Morgan’s bank,” which was an unbelievable offer, “you’re long two lacs of silver.”
I said, “Guy I didn’t really wanna be long,” the market shot up another nickel as that came out of my mouth, $4.92 bid, so at least I made ten grand back.
Guy said, literally as the silver market went $4.95 bid, “You’re not long, you’ve got a stop loss right here for Alan and he’s filled, Linda could you call Alan for us please and tell him he’s filled at his price, thank you Darling. T.G. you’re down five grand and you’re flat silver.”
And that was that. Guy Adami stepped into a high speed sh*t storm, cleaned it up like Prince Charming. He had the sense something was going on to the upside so he got the book long the right amount ahead of the stop loss we were watching, he made my money back getting me long 2 lacs of silver for the ride, he got the book flat by selling that silver to the buyer above the market, and the trader in London even got filled on the screws. Stopped out right at his price, as silver notched higher so nobody would ever accuse us of plucking him at the highs.
That’s the kind of person Guy is. That’s the kind of desk mate Guy is. That’s the kind of savage in a perfectly pressed suit you are talking about when you’re talking about Guy Adami.
Listen the rest of this podcast and enjoy. There’s some serious financial gangster conversation going on in here.
“I think part of the problem is that the President is using the stock market like it’s a f*cking a golf score card that he checks after every hole to see how his Administration is doing.”
Truth from the Raven. I applaud it.
I don’t need to fight
To prove I’m right
I don’t need to be forgiven
“You know, I was a school rebel. Whatever they said do, I didn’t do. I was totally anti-everything.”
– Roger Daltrey, born March 1st, 1944
“To me life is about, really that burning desire to break through those walls. Nothing is given to you. You have to go get it. And you have to have that burning desire vision every day.” – Larry McDonald
“I know my faults, but I’m comfortable with me.”
– Roger Daltrey, and me.
“You know what? The macroenvironment is pretty good.”
– Verizon Communications finance chief Matt Ellis.
“Price, in fact, is truth.”
– Guy Adami and me at the Four Seasons Restaurant. Steezin.
Let me treat you to a podcast I won’t tell you anything about other than I adored it. Malcolm Gladwell and Rick Rubin, from Long Beach New York btw, talking about producing “Wildflowers” by Tom Petty. Broken Record is dreamy and that’s the best episode there is.
“Share your smile with the world. It’s a symbol of friendship and peace.”
– Christie Brinkley