Rebecca chats with David Hay. Together, they engage in conversation regarding David's market outlook for 2023, the reasons behind his belief in an earnings recession, and various other topics.David Hay is a longtime investment advisor, where he is currently the Chief Investment Officer at Evergreen Capital. He is also a financial author and recently wrote the book titled: Bubble 3.0: History’s Biggest Financial Bubble.IN THIS EPISODE, YOU’LL LEARN:  00:00 - Intro04:51 - Why David believes we will have an earnings recession and markets have yet to price this in. 09:55 - How the tremendous amount of government debt that needs to be issued and rolled over could mean interest rates go up in a recession. 13:41 - Why David believes we could see inflation come back. 17:45 - What impact China’s reopening could have on the US economy and the Fed’s goal of achieving a “soft landing”. 23:47 - David’s outlook on energy and why thinks we could see a third year of outperformance. 27:12 - David’s investment thesis behind USO, Shell PLC and CTRA. 40:18 - David’s outlook on the uranium sector and thesis on Sprott Physical Uranium Trust. *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.BOOKS AND RESOURCESCheck out David’s financial writings: Haymaker.Check out David’s book: Bubble 3.0: History’s Biggest Financial Bubble (audiobook on Awesound) USE DISCOUNT CODE: MINVEST33Related Episode: Listen to MI231: Bubble 3.0 History’s Biggest Financial Bubble w/ David Hay , or watch the video.NEW TO THE SHOW?Check out our Millennial Investing Starter Packs.Browse through all our episodes (complete with transcripts) here.Try Robert and Rebecca’s favorite tool for picking stock winners and managing our portfolios: TIP Finance.Enjoy exclusive perks from our favorite Apps and Services.Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.Learn how to better start, manage, and grow your business with the best business podcasts.P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!SPONSORSGet a FREE audiobook from Audible.Get personalized, expert advice that helps you see things clearly with ATB.Take stock of your finances and investing strategy with Betterment.Let an expert do your taxes from start to finish so you can relax with TurboTax.Talk to your clients about Desjardins Responsible Investment today and support what’s right for society and what’s good for business.Find the perfect piece of jewelry for life’s special moments with Blue Nile. Save up to 50% off today!If your business has five or more employees and managed to survive Covid you could be eligible to receive a payroll tax rebate of up to twenty-six thousand dollars per employee. Find out if your business qualifies with Innovation Refunds.Support our free podcast by supporting our sponsors.Connect with Rebecca: Twitter | InstagramConnect with David: Twitter | LinkedIn See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.