Michael Covel interviews Russell Napier. Napier is a consultant with CLSA, who Covel had the good fortune to speak for in 2013 in several cities across Asia. Napier is a global macro-strategist. He definitely comes at it from a different trading perspective than trend following. However, from a big picture perspective Covel loves the way that Napier questions the system (a broken system at that). They discuss why the average person will never see an interest for their savings again in their lifetime; how the choice of equities is made for many; how we’re not really in a free-market capitalistic world; why Napier thinks we’re on the eve of a major deflationary period; and how the equity bull market causes people to simply not think (or question). Napier’s book is titled “Anatomy of the Bear”.