{"podcast":{"title":"The Julia La Roche Show","slug":"the-julia-la-roche-show-5842803","podcast_index_feed_id":5842803,"rss_url":"https://anchor.fm/s/41aa63c4/podcast/rss","website_url":"https://podcasters.spotify.com/pod/show/julia-la-roche","image_url":"https://d3t3ozftmdmh3i.cloudfront.net/production/podcast_uploaded_nologo/10916857/10916857-1660085096509-ec2c80bf0ad2a.jpg","author":"Julia La Roche","episode_count":395,"summary":"Julia La Roche brings her listeners in-depth conversations with some of the top CEOs, investors, founders, academics, and rising stars in business. Guests on \"The Julia La Roche Show\" have included Bill Ackman, Ray Dalio, Marc Benioff, Kyle Bass, Hugh Hendry, Nassim Taleb, Nouriel Roubini, David Friedberg, Anthony Scaramucci, Scott Galloway, Brent Johnson, Jim Rickards, Danielle DiMartino Booth, Carol Roth, Neil Howe, Jim Rogers, Jim Bianco, Josh Brown, and many more. Julia always makes the show about the guest, never the host. She speaks less and listens more. She always does her homework.","last_synced_at":"2026-07-24T00:18:02.386758+00:00","page_url":"https://stenobird.com/podcast/the-julia-la-roche-show-5842803"},"episode":{"title":"#381 Peter Grandich: Why the U.S. Stock Market's Biggest Tailwind Is About to Reverse","slug":"381-peter-grandich-why-the-u-s-stock-market-s-biggest-tailwind-is-about-to-reverse","published_at":"2026-06-25T10:00:00+00:00","page_url":"https://stenobird.com/podcast/the-julia-la-roche-show-5842803/381-peter-grandich-why-the-u-s-stock-market-s-biggest-tailwind-is-about-to-reverse","show_page_url":"https://stenobird.com/podcast/the-julia-la-roche-show-5842803","url":"https://podcasters.spotify.com/pod/show/julia-la-roche/episodes/381-Peter-Grandich-Why-the-U-S--Stock-Markets-Biggest-Tailwind-Is-About-to-Reverse-e3l7trh","audio_url":"https://traffic.megaphone.fm/APO3128802139.mp3","summary":"Veteran market analyst Peter Grandich of Peter Grandich and Company joins Julia for a mid-year macro check-in, and his message is decidedly cautious: after 42 years in finance, he believes the time has come to prioritize capital preservation over capital appreciation, especially in U.S. equities. Grandich lays out his bearish case across political, social, and economic lines—warning of a deeply divided Congress that couldn't manage another 2008-style crisis, a likely Democratic House sweep in the midterms that could derail Trump's agenda, runaway federal and state deficits, the looming threat of wealth and unrealized capital gains taxes, and the displacement of jobs by AI and robotics. He explains why he favors Asian equities over American ones, why he's cautiously back in gold (but not a "gold bug"), and why passive investing—once the market's biggest tailwind—could become its biggest risk. Closing with a vivid craps-table metaphor about a market overdue for a "seven," Grandich ultimately pivots to faith and family, reminding viewers that net worth shouldn't be confused with self-worth. Thank you to our sponsors: Kalshi - download the Kalshi app and use code JULIA to get $10 when you trade $10. http://kalshi.com/r/JULIA Monetary Metals - learn more at https://www.monetary-metals.com/julia/ Links: https://x.com/PeterGrandich https://petergrandich.com/ https://www.amazon.com/Confessions-FORMER-Wall-Street-Whiz/dp/B096LPRYW6 Timestamps: 00:00 — Welcome back & catching up with Peter Grandich 01:06 — Big-picture macro: "live chicken vs. dead duck" 06:28 — Midterms outlook & the political divide 10:54 — Echoes of 1929 and why this time is different 12:00 — State deficits, surcharges & "revenue enhancement" 13:11 — Taxes 17…","meta_description":"Veteran market analyst Peter Grandich of Peter Grandich and Company joins Julia for a mid-year macro check-in, and his message is decidedly cautious: afte…","key_points":[],"chapters":[],"topics":[],"duration_seconds":2805,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/the-julia-la-roche-show-5842803/episodes/381-peter-grandich-why-the-u-s-stock-market-s-biggest-tailwind-is-about-to-reverse/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/the-julia-la-roche-show-5842803/381-peter-grandich-why-the-u-s-stock-market-s-biggest-tailwind-is-about-to-reverse.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}