Political Economy
Political Economy
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Episode 209
Featuring Simon Mikhailovich
Simon Mikhailovich, founder and Managing Partner of TBR, describes his experience growing up in the Soviet Union and the relevant lessons for today. He also explains the value proposition of owning gold bullion in a world where sovereign bonds are no longer a guaranteed flight-to-safety.

In Episode 209 of Hidden Forces, Demetri Kofinas speaks with Simon Mikhailovich, founder and Managing Partner of “The Bullion Reserve,” a professionally managed private vehicle providing full-service solutions that ensure legal compliance, jurisdictional diversification, liquidity, physical access, and deliverability of gold bullion. Operating within a single structure, TBR maximizes flexibility and enables the use of gold bullion as a deep out of the money put option on the failure of extreme monetary policies with an asymmetric upside.

Demetri and Simon spend most of the podcast discussing Simon’s experience growing up in and emigrating from the Soviet Union, and the economic and political lessons that he has drawn from that experience and that we can apply to our present predicament in Western society.

The last twenty to twenty-five minutes or so is spent specifically on TBR and the value proposition of holding gold bullion in a world where the traditional, safe-haven asset of US treasuries no longer inspires the same amount of investor confidence that it did only 10 or 20 years ago and what that means for not only portfolio construction but political and social stability as well.

Because some of today’s conversation deals with investing, it’s important to make absolutely clear that nothing discussed on this podcast can or should be viewed as financial advice. All opinions expressed by podcast participants are solely their own opinions and should not be relied upon as the basis for financial decisions.

You can access the transcript and rundown to this week’s episode through the Hidden Forces Patreon Page. All subscribers gain access to our premium feed, which can be easily added to your favorite podcast application.

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Producer & Host: Demetri Kofinas

Editor & Engineer: Stylianos Nicolaou

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Episode Recorded on 09/06/2021

Simon A. Mikhailovich is the founder and Managing Partner of The Bullion Reserve. TBR offers a full-service fiduciary solution for private and institutional investors seeking to establish and maintain independent bullion reserves in diverse jurisdictions. Prior to founding TBR in 2014, Mr. Mikhailovich co-founded Eidesis Capital, a special situations investment firm. Between 1998 and 2014, Eidesis deployed over $2.5B through special opportunity funds focused on high yield corporate bonds and loans, credit derivatives, distressed CDOs and MBS, and, after 2011, gold. Between 1985 and 1998, Mr. Mikhailovich was a Portfolio Manager at Falcon Asset Management overseeing alternative investments in corporate credit and hard assets, including oil and gas, timberlands, and agribusiness. During the early 1990s, he headed a workouts’ team, restructuring service businesses in North America and Europe. Simon Mikhailovich is an entrepreneur, contrarian investor, and an avid student of history who envisioned the financial crises of 2000, 2008, and 2020 (on-going) and took advantage of the resulting opportunities. His macro views are informed by nearly four decades of investment experience, as well as diverse educational and personal background. He received an M.S. in Business (Finance) from the University of Baltimore and a B.S. (Political Science) from Johns Hopkins University. Previously, he studied chemical engineering at the St Petersburg State University of Film and Television, completing a two-year core engineering curriculum. Mr. Mikhailovich was born and grew up in Leningrad, USSR. In 1978, at the age of 19, he and his immediate family were allowed to emigrate in exchange for surrendering citizenship and all assets, except for $100 and a suitcase per person. In 1979, the family secured US refugee visas and resettled in the United States. After seven years as a stateless political refugee, Mr. Mikhailovich became a naturalized US citizen in 1985.

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