Скачать или смотреть Abacus Life: The Boomers’ $14T Hidden Asset Class (and Why It’s Just Starting) ABL PTLO JXN FOA

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In this episode, I’m joined by ‪@UnemployedValueDegen‬ for a wide-ranging conversation spanning macro, sentiment extremes, tariffs, banking leverage, and the “silver tsunami” reshaping insurance and retirement finance.

We cover why 2025 became a year of “everyone was bearish… and wrong,” how malinvestment can unwind quietly when it’s equity-funded (vs debt in fractional reserve banking), and why the next big bust may come from data center overbuild — just not yet.

Then we pivot into the silver tsunami: a massive demographic wave driving demand for annuities and life settlements. We break down:

Abacus Life / Abacus Global Management (ticker migrating to NYSE, symbol changing) and the life settlements runway

Why life insurance is effectively a tradable asset in the U.S. (and why that matters)

How asset-backed securitization and recurring fee streams could change the quality of earnings
Jackson Financial as a high-cashflow, capital-return story tied to retirement behavior and widow demographics
A contrarian restaurant pitch: Portillo’s, rewards program leverage, and the “re-launch” thesis

Chapters
00:01 Welcome back + Stephen returns (Western Hemisphere edition)
00:55 Sentiment extreme: “4th most bearish year since 1987”
02:16 Why the bear case didn’t pan out
02:24 The recession narrative after 15 years of zero rates
03:40 Malinvestment did happen — just in equity-funded SaaS
05:09 Why fractional-reserve debt contagion is what really matters
06:34 Inflation surprise: CPI at 2.7% + media credibility gap
07:16 Tariffs: why net importer vs exporter changes the outcome
09:21 Economic history detour (Keynes, Hayek, Lionel Robbins)
10:53 “Free trade” vs non-tariff barriers (EU example)
12:44 Small value vs large growth: elastic stretched
14:10 DOGE cuts + federal contractors, the “hidden recession” narrative
16:53 White collar vs blue collar wages; H1B + “year of efficiency”
19:18 Trucking crackdown + freight/tender rejections
20:17 Oil, CPI, capex, and the byproduct dynamics question
23:20 Tariff uncertainty + Supreme Court risk and “end-state vs transition”
27:53 Why overturning tariffs could be bearish (uncertainty bullwhip)
30:14 Banking deregulation + releveraging thesis into summer 2026
30:28 Transition: business models that beat debasement
32:33 Abacus: rebrand + NYSE migration + ticker change
33:25 Life settlements 101 + the 1911 property-right precedent
34:43 Market size: $14T life insurance; lapse dynamics + runway
36:51 Funding growth, per-share metrics, debt and dilution concerns
38:00 ABS securitization angle: “mid single digit” yield discussion
39:47 Senior care demand as a life-settlement catalyst
42:34 Acquisitions: AccuQuote (monetizing inbound calls)
44:50 Building recurring revenue: funds/management-fee strategy
48:09 Estate planning tailwinds + jumbo policy opportunity
54:04 Jackson Financial: annuities, commissions, and “widow capital”
57:43 The bear case + why market over-discounts it
59:58 “Payout ratio could go 50% → 150%” as the book matures
01:02:09 Portillo’s: rewards program, marketing reset, re-launch thesis
01:11:38 Wrap + subscribe + see you in 2026

Disclaimer: This publication is intended solely for documenting my personal journey with trading and investments for income and travel purposes. I am not a certified financial advisor nor am I a financial professional and none of the content provided should be construed as investment advice. It is essential to conduct your own thorough research and consult a registered financial service provider for appropriate guidance. I cannot guarantee the accuracy or completeness of the information presented. Any actions taken based on the information shared in any of my work are done at your own risk and discretion. Past performance is not indicative of future results. All investing involves risk, including the potential loss of principal. There is no guarantee that any investment strategy, including those discussed here, will achieve its objectives or generate profits. You should carefully consider your investment objectives, risk tolerance, and financial situation before making any investment decisions.