Just how severe are the risks in today's market – and what can investors do to protect themselves against them? Sven Henrich, founder of Northman Trader, joins Real Vision CEO Raoul Pal to explore these questions. Raoul and Sven analyze the current market landscape, looking at the equity market’s multiple expansion, the flashing warning signals in the bond market, and the flood of central bank liquidity keeping everything afloat. They examine the risks and rewards of shorting equities, and explore whether it is wise to take an observationally-bearish view and implement it into a tactically-bearish view. Sven and Raoul also look at a wide variety of charts in order to incorporate technical indicators within their macro framework. Filmed on July 14, 2020.