Odd Lots
By Bloomberg News
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Description
Bloomberg’s Joe Weisenthal and Tracy Alloway take you on a not-so random weekly walk through hot topics in markets, finance and economics.
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CleanTech Stock Bubbles In the 17th Century | Jamie Catherwood is an investment analyst at Arthur J. Gallagher & Co. He's also a major financial history buff, and tells us the story of the tech stock bubble in the 17th century, when investors went crazy for schemes that facilitated underwater breathing and the search for sunken treasures. | 2/18/2019 | Free | View in iTunes |
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CleanA Message from The Pay Check | The Pay Check is collecting stories for our upcoming season, and we want to hear from you! Did having a kid change your career trajectory or the way you work? If you have anything you want to share, call and leave us a voicemail at (212) 617-0166. Stay tuned for more very soon! | 2/13/2019 | Free | View in iTunes |
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CleanUnderstanding The Big Tech Stocks | For years, the key to beating the stock market was to invest a lot in the big tech stocks like Facebook and Apple. But in 2018, they stumbled hard, amid a general selloff in the market, concerns about their growth potential, and concerns about regulation out of DC. So what's next for them? On this week's episode, we spoke to Leigh Drogen, the founder and CEO of Estimize, a site that gathers buy-side earnings forecasts. Leigh has a great feel for the business models of each company, and the challenges and opportunities that they face. | 2/11/2019 | Free | View in iTunes |
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CleanWhat To Know Ahead Of India's Election | India is going to have a general election in the months ahead, and so it's important to understand the state of the economy, and what incumbent Prime Minister Narendra Modi has accomplished during his five years in office. | 2/4/2019 | Free | View in iTunes |
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CleanHow Does The Chinese Economy Work? | Matt Boesler, an economics reporter for Bloomberg, had the opportunity to report from Beijing for a few months in 2018. He shares with us his experience there, and what he learned from the opportunity. | 1/28/2019 | Free | View in iTunes |
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CleanThe 1MDB Scandal And The Nature of Debt | At the heart of government debt is a promise to pay back creditors. But governments sometimes don't do this - either by defaulting on their bonds or restructuring their debt. How are these decisions made? And what happens to borrowings that governments say should never have been done at all? | 1/21/2019 | Free | View in iTunes |
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CleanMaking Bitcoin A Currency People Use | Even at Bitcoin’s recent peak, there was very little active use of the cryptocurrency in normal commerce. On this week's episode, we speak with Bitcoin maximalist Pierre Rochard of Bitcoin Advisory on why he's still a believer in the currency, and the technological developments being done to make it useful for normal spending. | 1/14/2019 | Free | View in iTunes |
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CleanIntroducing "Works For Me," A New Podcast From Bloomberg | On this new show from Bloomberg, hosts Francesca Levy and Rebecca Greenfield navigate the productivity industry by way of their own experiences. In each episode, one of the two becomes a human guinea pig as she tries to solve a specific work-related problem. Using the advice of so-called productivity experts, the duo tackles obstacles like ineffective to-do lists, overflowing inboxes and unruly meetings. Follow along with their attempts, insights and missteps, and maybe find a solution that will work for you. | 1/9/2019 | Free | View in iTunes |
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CleanHe Rode The Bitcoin Boom All The Way Up, And Down | The last two years have been an extraordinary ride for Bitcoin. It exploded in 2017, with the price nearing $20,000 per coin. Then in 2018 it totally collapsed. On this week's episode, we speak with Peter McCormack, a bitcoin trader, who bought in at the bottom, rode the boom all the way to the top, and then proceeded to lose almost everything. He shares with us what he learned along the way. | 1/7/2019 | Free | View in iTunes |
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CleanThis is What Traders Will Be Watching In 2019 | After a volatile 2018, few people in the market expect calm to return anytime soon. Politics, the Fed, and trade will continue to be major sources of uncertainty. And of course there will be numerous events that nobody is thinking about right now. On this week's episode, host Joe Weisenthal speaks with Bloomberg macro strategist Cameron Crise and cross-asset reporter Luke Kawa about the key things to watch in 2019 if you're in the market. | 12/31/2018 | Free | View in iTunes |
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CleanThese Were The Most Important Stories for Traders In 2018 | 2018 will go down as one of the most pivotal for financial markets since the financial crisis. We saw the return of significant volatility, amid poor returns in several asset classes. On this week's episode, host Joe Weisenthal speaks with Bloomberg macro strategist Cameron Crise and cross-asset reporter Luke Kawa about the key themes we saw this year. | 12/24/2018 | Free | View in iTunes |
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CleanHow Passive Investing Could Change Capitalism | The biggest macro trend in investing is the rise of so-called "passive investing." But while this may have advantages for the individual investor, it raises a whole new host of issues, such as elevating the role of index designers, and decreasing the emphasis on studying individual companies. On this week's Odd Lots podcast, we speak with Bernstein's Inigo Fraser-Jenkins who once wrote a note that said passive investing is "worse for society than Marxism." | 12/17/2018 | Free | View in iTunes |
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CleanThe Market's Big Bet on Low Volatility | The past couple months have seen the return of volatility in markets. On this edition of Odd Lots, we speak to Chris Cole, the founder of Artemis Capital Management and a long-time watcher of volatility. Cole has argued that a lot of the investment strategies we take for granted in markets essentially amount to a giant bet that volatility will remain low. So what happens when vol starts to come back? | 12/10/2018 | Free | View in iTunes |
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CleanHow To Analyze The Currency Markets | With assets like stocks and bonds, there are clear techniques you can use to value them. But what about currencies? They don't produce cash flows. They don't offer any particular claim on assets. They're all priced relative to other currencies. So how do you go about determining their value? | 12/3/2018 | Free | View in iTunes |
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CleanHow Paul Volcker Views His Life | Paul Volcker is widely-regarded as single-handedly halting a period of severe inflation in the U.S. during the late 1970s and early 1980s. But the former chairmen of the Federal Reserve’s reputation wasn't always so secure. So how does he view his legacy? Christine Harper, the editor of Bloomberg Markets, spent two years working with Volcker to co-author his autobiography, “Keeping At It: The Quest for Sound Money and Good Government.” | 11/26/2018 | Free | View in iTunes |
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CleanWhy Blockchain May Never Benefit Corporations | For years, a common mantra among corporate executives has been that "the blockchain," the technology underlying Bitcoin and other cryptocurrencies, is where the real value lies in the future. But on this week's episode of Odd Lots, we speak to Angus Champion de Crespigny, who formerly advised companies on how to use blockchain technology. He now believes that ultimately it won't get them anywhere. | 11/19/2018 | Free | View in iTunes |
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CleanThis Is How The Unicorn Bubble Will Burst | So-called "unicorns" have become household names in recent years. Multi-billion dollar companies like AirBNB, Uber, and WeWork have become known for phenomenal growth, extraordinary valuations, and a general dearth of profits. That means these companies have been reliant on accommodative financial conditions to maintain their growth. So how might this all come to an end? | 11/12/2018 | Free | View in iTunes |
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CleanTravel Genius, a New Show From Bloomberg | What’s the most sure-fire way to get a flight upgrade? How can you find the best, secret local restaurants by asking just one question? What's the first thing you should do when you get into a hotel room? On Bloomberg's new podcast Travel Genius, we'll give you those answers—and plenty more—as hosts Nikki Ekstein and Mark Ellwood quiz the world’s most experienced globetrotters for their tried-and-true travel hacks. Listen weekly, and even your work trips will go from a necessary evil to an expert art form. Plus, you'll be padding out your bucket list with dreams of amazing future vacations. | 11/6/2018 | Free | View in iTunes |
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CleanHow The Original Rogue Trader Rebuilt His Life | If there's one person associated with the term "Rogue Trader" it's Nick Leeson, who singlehandedly brought down Barings Bank in the early 90s, following a series of efforts to cover up bad trades. After the collapse of the bank, he spent time in a Singapore prison. On this week's podcast, we talk to Nick about the experience, what he learned, and how he managed to rebuild his life.Correction: Corrects the spelling of Barings Bank in the description of the podcast. | 11/5/2018 | Free | View in iTunes |
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CleanPrognosis, a New Show From Bloomberg | Where does a medical cure come from? 100 years ago, it wasn't uncommon for scientists to test medicines by taking a dose themselves. As medical technologies get cheaper and more accessible, patients and DIY tinkerers are trying something similar—and mainstream medicine is racing to catch up. Prognosis explores the leading edge of medical advances, and asks who gets—or should get—access to them. We look at how innovation happens, when it fails, and what it means to the people with a disease trying to feel better, live longer, or avoid death. | 11/2/2018 | Free | View in iTunes |
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CleanWhy Eurodollars Might Be Ground Zero for De-Globalization | Eurodollars have nothing to do with the euro-dollar exchange rate. Instead, they're effectively a source of dollars that operates outside the control of the U.S. Jeff Snider, Head of Global Research at Alhambra, has a theory that recent market volatility might have its roots in some eurodollar drama. | 10/29/2018 | Free | View in iTunes |
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CleanComing Soon: The New Economy | Bloomberg’s head of economics Stephanie Flanders calls on Bloomberg's worldwide network of reporters and expert commentators to cast a fresh eye on looming challenges for the world economy which affect us all.This 6 part podcast combines on the ground reporting with expert discussion on the future of cities, finance and technology, trade, global governance and making growth more inclusive. It's the start of a global conversation on how to confront these issues which will continue in Singapore in early November, when around 400 top business leaders and thinkers from across the globe will gather in Singapore for the first New Economy Forum. | 10/24/2018 | Free | View in iTunes |
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CleanWhat Will China’s Economy Look Like In 10 Years? | China has a plan for how it wants to transform into a modern economy. But the future of China’s economy is complicated both by internal factors like debt-fueled growth, as well as external challenges like a potentially drawn out trade war with the U.S. On this week’s Odd Lots, George Magnus, author of “Red Flags: Why Xi’s China is in Jeopardy,” explores these pressures and more. | 10/22/2018 | Free | View in iTunes |
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CleanComing Soon: The ETF Story | The creation story of the first exchange-traded fund is actually the best way to understand how they work. And it's not just educational, it's entertaining. Like the PC and the MP3, the story of the creation of SPY -- which turned 30 this year -- is full of characters, twists and turns, and subplots. In the end, the product launched an industry that's reshaping not just investing but the entire financial ecosystem. This six-episode miniseries will weave together interviews with the founding fathers and other key players that help investors better understand the ETF and how we got here. | 10/19/2018 | Free | View in iTunes |
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CleanHow To Analyze A Marijuana Stock | Marijuana stocks have been on a tear recently, as investors bet on the explosion of a brand new, legalizing market. But, how should investors actually go about trying to figure out which companies are well run and in a position to profit from this mark?*Editor's note: Our guest Craig Wiggins misidentified the company "Aurora" as building to scale around 14:54 in the episode. The correct company is Aphria. | 10/15/2018 | Free | View in iTunes |
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CleanSaudi Arabia's IPO Drama | A little over two years ago, Saudi Arabia revealed plans to IPO part of its huge state-owned national oil company. The listing would have been the largest in history and a centerpiece of the Kingdom's efforts to reduce its reliance on oil income and open its economy to the wider world. But in recent weeks, there've been reports that the IPO has been put on ice. So what does this mean for Saudi Arabia's future? | 10/8/2018 | Free | View in iTunes |
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CleanWhat David Barse Learned From Watching A Credit Fund Blow Up | David Barse was the CEO of Third Avenue Management when one of its credit funds melted down in late 2015. The collapse of the fund touched off a significant debate about market structure, and the appropriate way to invest in illiquid, distressed securities. On this week's episode, we talk to Barse about what he learned from the experience, and how he's investing today. | 10/1/2018 | Free | View in iTunes |
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CleanHow To Create The Safest Bank In America | What if there were a bank that could never experience a run? And furthermore, what if it paid higher interest rates on deposits than what you could get at other banks? That sounds pretty good, right? Well it might be possible. On this week's episode of the Odd Lots podcast, we talk with Jamie McAndrews, the co-founder and CEO of The Narrow Bank. | 9/24/2018 | Free | View in iTunes |
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CleanWhat Investors Should Know About The Correlation Between Bonds And Stocks | Sixty percent in equities/40 percent in bonds is a popular, general approach to structuring a diversified portfolio. In theory, when times are good, your stocks go up, and when times are bad, your bonds go up. But what if the correlation between bonds and stocks changes? On this week's Odd Lots podcast, we speak with Farouk Jivraj, head of Investment Strategies Research at Barclays, about cross-asset correlations and what causes them to change over time. | 9/17/2018 | Free | View in iTunes |
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CleanA Forensic Accounting Expert Explains How Companies Trick Investors | Companies have all kinds of discretion in how they recognize revenue and costs. Some of this is legit. Some of this is fraud. On this week's episode of the Odd Lots podcast, we speak with Howard Schilit, an expert in forensic accounting and the author of “Financial Shenanigans: How To Detect Accounting Gimmicks & Fraud in Financial Reports.” | 9/10/2018 | Free | View in iTunes |
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CleanMatt Levine Dissects Elon Musk's Controversial Tweet | There's been an intense debate about what Tesla CEO Elon Musk meant when he tweeted in early August that he was taking the company private and that funding was "secured.” Bloomberg Opinion writer Matt Levine discusses how securities regulators might view such a comment. | 9/4/2018 | Free | View in iTunes |
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CleanThe Time One Of Our Co-Hosts Launched His Own Cryptocurrency | Joe Weisenthal is a co-host of the Odd Lots podcast. He also once launched his own cryptocurrency called Stalwartbucks. On this week's episode, we speak with Guan Yang, who along with Weisenthal helped launch Stalwartbucks in the early weeks of 2014. We talk about how they did it, what they learned, and why, sadly, it ultimately failed. | 8/27/2018 | Free | View in iTunes |
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CleanAn Emerging Markets Fund Manager Describes What's Happening In Turkey Right Now | Are you confused about the crisis in Turkey? Today's episode will get you cleared up. This week on Odd Lots, we spoke to Paul McNamara, an investment manager at GAM Investments, and a long-term veteran of the emerging markets world. He explained the mechanics of the Turkish currency plunge, and what aspects of the turmoil are unique or similar to other emerging markets crises that he's seen in his career. | 8/20/2018 | Free | View in iTunes |
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CleanHow Wall Street Started Selling You Financial Products | Open any financial publication and you'll see ads for investment products: exchange-traded funds, mutual funds, and the like. Those ads can tell you a lot about what investors are currently thinking and feeling about the market. But did you ever wonder how Wall Street came to be advertising these prepackaged products? On this edition of the Odd Lots podcast, we speak with Eric Weiner, who leads ETF coverage at Bloomberg and also wrote a book on the history of Wall Street. We talk about the first ever modern advertisement for market investing, a 1948 ad in the New York Times, and how Charles Merrill applied grocery store economics to financial brokerages. | 8/13/2018 | Free | View in iTunes |
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CleanHow A Post-Keynesian Economist Sees The Markets Right Now | Srinivas Thiruvadanthai is the Director of Research at the Jerome Levy Forecasting Center, and one of the most interesting commentators on markets and the economy. He's also an economist who fits into the post-Keynesian school of thought. The post-Keynesians -- a group that has a growing following -- argue that the economy is not self-correcting, that central banks have limited influence on the economy or inflation, and that large government debts can be a stabilizing force. In our conversation, he explains his world view and how he uses it to interpret markets right now. | 8/6/2018 | Free | View in iTunes |
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CleanEven The World's Greatest Investors Have Made Horrible Mistakes | Here's some good news for investors: If you've ever made a disastrous trade, you're not alone. All of the greats have made horrible moves as well. On this week's Odd Lots podcast, we speak to Michael Batnick, the director of research at Ritholtz Wealth Management, and the author of a new book 'Big Mistakes: The Best Investors and Their Worst Investments.' We talk about great errors from the likes of Warren Buffett, Bill Ackman, Jesse Livermore and many others. In addition to going through their blunders, Batnick explains some basic lessons that investors can take away from these going forward in their own money moves. | 7/30/2018 | Free | View in iTunes |
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CleanWhy Understanding Financial Fraud Is The Secret To Understanding Business | If you want to understand how the human body works, you can't just look at healthy humans. You need to examine the ill, so you can see how the body breaks down and where its weak spots are. And so if you want to understand how business works, it makes sense to look at financial fraud. After all, financial fraudsters work by getting to know a business really well, in order to take advantage of how it operates. That's the gist of our discussion this week with Dan Davies, the author of "Lying for Money: How Legendary Frauds Reveal the Workings of Our World." In our conversation, Davies shares with us his favorite fraud of all time, what all frauds have in common, and what people can do to avoid them. | 7/23/2018 | Free | View in iTunes |
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CleanHow to Listen to What the Market Is Trying to Tell You | For years, it was pretty quiet in markets. Stocks kept making new highs and volatility drifted to fresh lows. That's changed in recent months and there's now plenty to keep investors busy, including fears of a trade war and signs that the economy be nearing the end of its cycle. On this week's episode of the podcast, we speak with Peter Borish, a veteran investor and trader (and former Odd Lots guest), who is currently chief strategist at the Quad Group. He talks about how he approaches trading in the current environment and the indicators that he tracks in order to understand what the market is trying to tell us. | 7/16/2018 | Free | View in iTunes |
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CleanThis Is What's Actually Happening When The Government Auctions Bonds | Thanks to the tax cuts, the U.S. deficit is expected to surge again. And of course that's brought greater attention to the government's semi-regular Treasury auctions. But the government borrowing money isn't like a household borrowing money, and analogies between the two can be misleading. On this week's Odd Lots podcast, we speak to Brian Romanchuk, the author of BondEconomics.com and a long time financial industry veteran, about what's actually happening when the government taps the debt market. | 7/9/2018 | Free | View in iTunes |
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CleanThe Internet Is Secretly Powered By Billions Of Tiny Auctions | Everyone knows that online advertising pays for a massive chunk of the internet that people know and love, whether it's social networking sites, news, photo sharing apps, or anything else. But how do the ads get delivered to your desktop or phone? On this week's Odd Lots podcast, we speak to Afsheen Bigdeli, an engineer who works on online ad platforms about how every time you see an ad it's the result of a virtually instantaneous online auction in which the seller of ad inventory (a publisher) and a buyer of ad inventory meet at an exchange, not totally unlike exchanges used for financial markets. It turns out there's a lot we can learn about financial market structure based on these rapid transactions. | 7/2/2018 | Free | View in iTunes |
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CleanThe Creator of VaR Explains How Large Banks Measure The Risk Of Their Own Portfolios | Earlier this year, markets were spooked by blow-ups in a number of volatility-linked products. But dealing with volatility is the foundation of risk management on Wall Street and there's a particular model that's become pervasive among big investors and banks -- so-called Value-at-Risk (VaR) models seek to gauge how much a portfolio might gain or lose based on historic price movements. On this week's episode of the Odd Lots podcast, we speak to one of the original creators of VaR. Till Guldimann explains how he came up with the model while at JPMorgan, plus how it works, its limitations, how it can be gamed, and what he thinks of the volatility landscape now. | 6/25/2018 | Free | View in iTunes |
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CleanMeet The Chicago Floor Trader Who Helped Inspire The Tea Party Movement | A pivotal moment in U.S. political history is when CNBC's Rick Santelli went on a gigantic rant against Obama's stimulus programs while on the floor of the Chicago Board of Trade. The rant is credited by some as having helped galvanize the Tea Party movement, which rapidly became highly influential within the Republican party. Standing next to Santelli was a floor trader, Eric Wilkinson, who joined along in the rant, and become a player in his own right in the story. On this week's episode, we talk to Wilkinson about his background, the day of the rant, and how a conversation that he had had earlier that morning with Santelli influenced that moment. | 6/18/2018 | Free | View in iTunes |
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CleanThe Inventor Of 'Bond Vigilantes' Explains Why They Just Showed Up In Italy | Longtime market analyst Ed Yardeni came up with the term "Bond Vigilantes" to describe the way bond market participants can punish governments who run economically irresponsible policies. When Yardeni used it in the 80s, it referred to US fiscal policy that was thought to be inflationary. Now the bond vigilantes are back, but this time they're in Italy. On this week's podcast, Yardeni explains the history of the term, what's going on now, and how interest rates can be used to model stock market valuations. | 6/11/2018 | Free | View in iTunes |
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CleanThis Is How The Chocolate Market Actually Works | When you're eating a chocolate bar, there's a good chance you're not thinking about the complex commodity market that allows cocoa beans to make it into a tasty snack. But obviously cocoa trading is a huge business. On this week's Odd Lots podcast, we speak to professor Kristy Leissle, the author of the book “Cocoa,” about how this commodity market really works. She explains to us where it's grown, how pricing's determined, and the role of the major confectionery buyers in this market. | 6/4/2018 | Free | View in iTunes |
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CleanWhat the Finance Industry's All-Night Scavenger Hunt Is Actually Like | For years, big banks, hedge funds and other investment firms took part in an epic scavenger hunt in New York. Inspired by the 1980 movie, “Midnight Madness,” teams of quants and traders would stay out all night competing to figure out some of the world's hardest puzzles. This year, the event was held for the first time in London, where Odd Lots joined a team from Goldman Sachs to compete for the prestigious title. In this episode, find out what it's like to actually compete in the fiendishly difficult experience that is Midnight Madness. | 5/28/2018 | Free | View in iTunes |
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CleanThis Is China's Plan To Be A Technology Powerhouse By The Year 2025 | The recent trade tensions between the Trump administration and China has shone a light on the country's ambitions to become a technology powerhouse, as one of the complaints is that China unfairly extracts intellectual property from multinationals entering that market. But what, specifically, is China's long-term plan? On this week's Odd Lots podcast, we speak to Dan Wang, a technology analyst at Gavekal Dragonomics about the the Made In China 2025 initiative, which seeks to turn the country into a tech leader (in areas like semiconductors, medical equipment, clean energy, and wide-body aircraft) by the year 2025. Dan explains how the program works, where it's succeeding, where it's struggling, and what the ramifications are for the rest of the world. | 5/21/2018 | Free | View in iTunes |
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CleanInside the Multi-Year Quest to Create a Bitcoin ETF | When Bitcoin first began generating headlines, there were some who thought the cryptocurrency was a fraud and others who thought it was the next big thing. Greg King, CEO of Rex Shares LLC, was one of the latter. Like the Winklevoss twins, he set out to create an exchange-traded fund (ETF) that would allow people to invest in Bitcoin in a new way. But many years later, the U.S. securities watchdog hasn't approved such plans. On this edition of the Odd Lots podcast, we use the Bitcoin example and King's experience to explain the inner workings of ETFs. | 5/14/2018 | Free | View in iTunes |
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CleanBonus: The Pay Check, a New Podcast | It’s a big, expensive, global mystery. Why do women still make less money—a lot less—than men? In the US, the average woman makes 80 cents to every dollar a man makes. Launching May 9, the Pay Check is an in-depth investigation into what that 20 percent difference looks like. In this miniseries we'll show you how the gender pay gap plays out in real life. We'll hear from Lily Ledbetter, Mo’Nique, and a lot of other women who weren’t happy to be paid less. We'll find out what happens when a whole country tries to tackle the pay gap. And we'll talk to some women who are taking things into their own hands. | 5/9/2018 | Free | View in iTunes |
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CleanThis Is How The Paparazzi Business Really Works | Everybody probably has some vague idea of what the paparazzi do. They ride around on motorcycles, hounding celebrities, and hopefully snapping photos of them in embarrassing situations. But how do the business and economics really work? How do the photographers actually get paid? Eddie van der Walt, a Bloomberg reporter who once was a paparazzo, joins us on this week’s Odd Lots to help answer those questions. | 5/7/2018 | Free | View in iTunes |
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CleanThese Stories Of Horse Racing Gamblers Will Get You Psyched For The Kentucky Derby | The Kentucky Derby is coming up in early May, and it's time to get excited. On this week's Odd Lots podcast, we talk to Bloomberg editor David Papadopoulos, who in addition to his day job has been betting on horses for a long time. In our discussion, he talked about great gambling scores, where brilliant bettors and cheaters took down gigantic purses by finding ways to beat the odds. He also gave us his take on the challenges of betting on the Derby and other races. | 4/30/2018 | Free | View in iTunes |
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CleanWhy The Entire Way We Talk About Millennials Is Wrong | When it comes to millennials, the media has certain tropes that it likes to go back to. Millennials love avocados. Millennials aren't into homebuying. Millennials are always killing off this or that product or service. But what if the consumption lens is the totally wrong way to talk about this generation? On this week's Odd Lots podcast, we speak to Malcolm Harris, the author of "Kids These Days: Human Capital and the Making of Millennials," about what he says is a more useful frame for understanding the economic stresses millennials face. | 4/23/2018 | Free | View in iTunes |
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CleanWe're Nominated For A Webby Award, And We Need Your Help! | We've been nominated for a Webby Award in the business podcast category, and we need the support of our listeners to help us win. Go online to https://www.webbyawards.com/ and vote now. And thanks for listening! | 4/16/2018 | Free | View in iTunes |
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CleanWhy A Florida Orange Grove In 1946 Is The Key To Understanding Regulation Of ICOs | By now, everyone's heard of ICOs (Initial Coin Offerings) where companies issue their own currency-like tokens. They boomed massively in 2017, alongside the whole cryptocurrency craze. But very few people really get what they are, and how they fit into the regulatory landscape. On this week's Odd Lots podcast, we speak with Peter van Valkenburgh, the director of research at Coin Center, who explains why you have to go back to a 1946 case involving a Florida orange grower to understand how regulators see these newfangled financial instruments. | 4/16/2018 | Free | View in iTunes |
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CleanThis Is What A Trade War With China Would Actually Look Like | Recent threats to impose tariffs on Chinese goods, coupled with China's own retaliatory announcements have raised the prospects of a trade war between the world's two biggest economies. But what is a trade war, and what would be the economic ramifications if there were one? Brad Setser, the Steven A. Tananbaum senior fellow for international economics at the Council on Foreign Relations, joins us on this week’s Odd Lots to help answer those questions. Brad has been writing about trade issues for many years, and explains what exactly we're seeing now, how the current trade actions differ from standard moves on trade, and where ultimately all these actions might go. | 4/9/2018 | Free | View in iTunes |
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CleanAn Economist Explains Why Losing Weight Is Kind Of Like Defeating Inflation | A lot of people would probably agree that there's something wrong with much of the traditional advice in how to lose weight -- or at least how it's implemented. The economist Miles Kimball has lost weight using a different approach. He's increased his fat intake and gone for long stretches of time without eating anything at all. On this week's Odd Lots podcast, Kimball, a prolific blogger and professor at the University of Colorado Boulder, explains what got him interested in fasting, obesity research, and the similarities between weight loss and fighting inflation. | 4/2/2018 | Free | View in iTunes |
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CleanThe World's Most Controversial Interest Rate Is Haunting Us Again | Remember LIBOR? The London Interbank Offered Rate measures the cost of money when banks borrow from each other. It famously blew out during the financial crisis, but for a long time since then it's been dormant. Only lately it's started to creep higher again. On this week's Odd Lots podcast, we talk to Scott Peng, the founder, CEO and CIO of Advocate Capital Management, who warned in early 2008 that there was something fishy about the way the measure was being priced. In the post-crisis period, it was discovered that the rate -- which helps price trillions of dollars worth of other assets -- was being gamed or manipulated by traders. Peng walks us through the history of the rate, what it's telling us now, and what may ultimately replace it. | 3/26/2018 | Free | View in iTunes |
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CleanWhat It Was Like In The Glory Days Of Trading Currencies In The Pits | These days, when you think of trading, you think of people sitting at a desk with a bunch of monitors, watching charts, and maybe making decisions based on algorithmic signals. Of course if you imagine a trader a few decades ago, you think of someone in a big open pit shouting loudly and writing things down on actual physical pieces of paper. So what was that scene really like? On this week's Odd Lots podcast, we speak with Cameron Crise, a Bloomberg macro strategist, who used to trade currency options in the pits in Chicago during the early 1990s. We talk about how he got there, some of the funniest moments he experienced, and how the trading world has evolved since then. | 3/19/2018 | Free | View in iTunes |
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CleanFor The First Time In Years, Why People Are Suddenly Talking About Inflation Again | For years, nobody seemed particularly concerned about inflation. Outside of a few blips, in the wake of the financial crisis, people have become accustomed to low inflation, and central banks providing ample stimulus to the economy. But suddenly that's changing. There seem to be hints that the macro backdrop is shifting, and that has investors on edge. So why the shift and what's going on? On this week's Odd Lots, we speak with Michael Ashton of Enduring Investments, a specialist in analyzing the inflation data, and helping clients trade on it. He offers his theory of what drives inflation, and where it's going to go next. | 3/12/2018 | Free | View in iTunes |
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CleanWhy The Human Brain Loves To Be Lied To | In theory, people should want to know accurate facts about the state of the world. In practice, it's not so simple. Because of the way we evolved, and how our brains work, there are often things that we prioritize above the truth (such as fitting in with some tribal identity). On this week's Odd Lots podcast, we speak with NYU professor Jay Van Bavel, about a new paper he co-authored titled "The Partisan Brain: An Identity-Based Model of Political Belief." It explains how political ideology leads people to have distorted views of the world, and though this paper is specifically about politics, it contains important lessons for people in the market, as they seek to overcome the biases that make them bad traders and investors. | 3/5/2018 | Free | View in iTunes |
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CleanComing Soon: Decrypted Season 2 | Decrypted returns on March 6th with a brand new season. Here's a sneak peek of what's in store. We'll be releasing new episodes every Tuesday starting next week. | 2/27/2018 | Free | View in iTunes |
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CleanThe NYC Fiscal Crisis Of The 1970s Has Some Important Lessons For Today | In the 1970s, NYC teetered on the verge of bankruptcy. This crisis lead to the dismantling of the city's generous social safety net. On this week's Odd Lots podcast, we speak to Kim Phillips-Fein, historian and author of "Fear City: New York's Fiscal Crisis and the Rise of Austerity Politics." She walks us through what happened then, and what lessons it holds for fiscal politics today. | 2/26/2018 | Free | View in iTunes |
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CleanHow One Of The Most Profitable Trades Of The Last Few Years Blew Up In A Single Day | In recent years, one of the easiest ways to make money in this market has been to bet on low volatility. Up until recently, markets have been exceptionally tranquil, and trades predicated on that tranquility continuing have made a fortune. But two of the most popular vehicles for making that trade, XIV and SVXY got obliterated in one day in early February. On this week's episode of the Odd Lots podcast, we speak to Pravit Chintawongvanich, the head of Derivatives Strategy at Macro Risk Advisors about the episode. He explains what the short volatility trade was, how specifically these funds operated, and how they ultimately became victims of their own success. | 2/19/2018 | Free | View in iTunes |
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CleanComing Soon: What'd You Miss This Week | This month, Bloomberg is excited to bring you a brand new show. Every Friday on What'd You Miss This Week, we'll feature the most interesting interviews from Bloomberg's daily market close show, "What'd You Miss" hosted by Scarlet Fu, Julia Chatterley and Joe Weisenthal. We want to take you beyond the headlines and bring you a unique perspective on the week's top stories, and those you may just have missed. It's the perfect way to kick off your weekend. Be sure to subscribe now, so you don't miss a thing! | 2/12/2018 | Free | View in iTunes |
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CleanAnnie Duke Explains How To Apply Poker Skills To Markets And Other Business Decisions | Anyone who watched poker on TV during the golden age of coverage a few years ago is familiar with Annie Duke. She's one of the most famous poker players of the era, and is one of the winningest women poker players of all time, with 38 money finishes at the World Series of Poker. She's been retired from poker for a few years now, but she has a new book called "Thinking In Bets: Making Smarter Decisions When You Don't Have All The Facts." On this week's episode of the Odd Lots podcast, Annie talks about the skills that made her good in poker, and how they can be applied to many areas of our lives, including trading and business. | 2/12/2018 | Free | View in iTunes |
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CleanWhy One Of The Most Successful Quant Funds Decided To Create Its Own Video Game | Quantitative finance is red hot. These days, basically everyone (banks, hedge funds etc.) is hiring mathematicians and coders. So what differentiates one quant shop from any other? On this week's episode of the Odd Lots podcast, we speak to Alfred Spector, the CTO of Two Sigma Investments, which is one of the most successful quant firms in the world. Spector is a computer scientist who previously did long stints at both Google and IBM. He tells us about why Two Sigma spent resources to create its own video game, and what the firm does to ensure that technologists and mathematicians are eager to work there. | 2/5/2018 | Free | View in iTunes |
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CleanHow The Opioid Crisis And The Trump Administration Are Changing Middle America's Economy | If you cover the economy from New York City or Abu Dhabi, it's easy to get caught up in a media bubble. But the U.S. economy is obviously not a monolith. On this week's episode of the Odd Lots podcast, we speak to Jeff Korzenik, the Chief Investment Strategist at Fifth Third Private bank, a major bank in the Midwestern states. During our discussion, we talk about the ramifications from the opioid crisis as well as the Trump administration on the economy and the markets. | 1/29/2018 | Free | View in iTunes |
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CleanHow Radical Demographic Shifts Around The World Are Changing How Assets Are Valued | When we think about financial assets, we usually think of their price as being derived from some set of intrinsic characteristics. A stock price may be a function of growth, margins, interest rates, and a few other things. For government bonds, we might say that inflation and growth are the big components. It's easy to forget that financial assets are goods sold on a market consisting of humans with their own demand and consumption needs. On this week's Odd Lots, we speak to Amlan Roy, Global Chief Retirement Strategist at State Street Global Advisors, about how radical changes to demographics all over the world has changed the supply and demand framework for financial assets, and thus the price of government bonds. | 1/22/2018 | Free | View in iTunes |
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CleanThis Explains Why Modern Markets Developed Where They Did | For centuries, markets were highly-personalized things, often controlled by select groups of people who traded based on long-established and closely-knit relationships. Closed networks -- such as merchant guilds in 16th century Europe -- could ensure trust between buyers and sellers by pushing out bad actors. But then, something happened that would eventually become the foundation of all modern markets. In the 1500s, new trade routes and the arrival of the printing press helped erode the power of merchant guilds and give way to a much more open system of trading where strangers could interact with each other. On this edition of the Odd Lots podcast, Prateek Raj gives his theory about why modern markets first took hold in Northern Europe, and what this 500-year-old period of disruption can tell us about the world today. | 1/15/2018 | Free | View in iTunes |
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CleanThis Is What It Was Actually Like To Live Through The Tech Bubble | We talk a lot about bubbles on this podcast. Often we talk about them from the perspective of a trader or speculator. But what about the people whose lives get caught up directly in the craziness? On this week's episode of the Odd Lots podcast, we speak to Bloomberg's own Dash Bennett, who worked for an internet company right during the peak of the mania in early 2000. Dash describes the incredible signs of excesses that he saw at the beginning and the bleak way it all ended when everyone lost their jobs and had all their perks taken away. | 1/8/2018 | Free | View in iTunes |
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CleanThese Will Be The Big Markets And Economics Stories In 2018 | On last week's episode of Odd Lots, Bloomberg's Chris Nagi and Matt Boesler gave us their takes for the biggest stories of the past year. So naturally, for this week's episode, we look ahead. Chris and Matt are back in the studio to give us their predictions for what we'll be talking about in 2018. | 1/2/2018 | Free | View in iTunes |
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CleanThese Were The Biggest Markets And Economics Stories of 2017 | The year is over, and now's the time to look back at the big stories of the past year. On this week's episode, we're joined by Chris Nagi and Matt Boesler of Bloomberg News to discuss what they saw as the dominant themes of 2017. For Nagi, it was the relentless decline in market volatility (despite a year of remarkable headlines) and for Boesler it was the persistent shortfall in inflation, and the challenge that that's posing to traditional economic models. | 12/26/2017 | Free | View in iTunes |
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CleanThis Is How Algorithms Impact Every Aspect Of Our Lives, from News to Credit Scores to Stocks | Algorithms. People talk about them all the time, particularly in relation to markets. But who actually designs them, and what do they do? On this week's episode of the Odd Lots podcast, we speak with Frank Pasquale, a law professor at the University of Maryland, and the author of "The Black Box Society: The Secret Algorithms That Control Money and Information." Pasquale, who has been following the growing importance of algorithms for several years explains the various ways they're shaping our life without us being aware of it. | 12/18/2017 | Free | View in iTunes |
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CleanTwo Researchers Explain How Quants Are Going To Revolutionize Long-Term Investing | When we think of computer-driven or "quant" investing, we often think fast moves, algorithms making buy and sell orders at incredibly short timeframes. So in theory, the likes of great long-term investors, like Warren Buffett, should be safe from the robot revolution. But maybe not so fast! On this week's Odd Lots podcast, we speak to John Alberg of Euclidean Technologies and Zachary Lipton of Carnegie Mellon, about their new research on the next generation of quant investing. Alberg and Lipton explain a recent paper in which they used machine learning to forecast the future fundamentals of companies, and the opportunity that offers in terms of beating the market over the long term. | 12/11/2017 | Free | View in iTunes |
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CleanAn MIT Professor Explains His Original Theory For How Markets Really Work | There are two popular schools of thought with regards to how markets work. There's the efficient markets hypothesis (EMH) which says that it's basically impossible to beat the market, because all information is completely priced in at all times (more or less). On the other side is an increasingly popular behavioral view which argues that various human emotions and biases are always creating situations that aren't justified by the data. On this week's episode of the Odd Lots podcast, we speak to Andrew Lo, a professor of finance at the MIT Sloan School of Management about his own theory, which he calls Adaptive Markets. The theory attempts to bridge the behavioral approach with the efficient markets view. He argues that the proper way to view the market is through an ecological lens, examining the players as flora and fauna of a complicated system, to help determine who's thriving, who's dying, and where asset prices will go. | 12/4/2017 | Free | View in iTunes |
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CleanComing Soon: Trillions, a New Podcast | Money goes where it's treated best. That simple truth is a big reason why more and more money—trillions, in fact—flows into a powerful, low-cost tool that's quietly transformed investing in recent years. Exchange-traded funds, or ETFs, let you invest in everything from the stock market to gold like never before. This podcast will demystify them—and delight you in the process. | 11/28/2017 | Free | View in iTunes |
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CleanWhy Historic Relationships in Markets Have Been Totally Upended | This month we saw a small sell-off in markets that got big attention. How did we get to the point where a 1 percent fall in the S&P 500 over the course of a week is huge news? And are we about to enter a time when it becomes much more normal to see markets fall? Matt King, global head of credit strategy at Citigroup Inc., has never shied away from the big picture questions. In this episode of the Odd Lots podcast, he predicts we'll see more wobbles in the future, and walks us through some of the biggest and most fundamental changes that have taken place in markets over the past few years. | 11/27/2017 | Free | View in iTunes |
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CleanThe World's Foremost Expert Explains How To Value Stock | In this age of algorithms and quants, you hear less and less about good old stock picking. You know, like the style of investing associated with Warren Buffet or Benjamin Graham. But that doesn't mean you can't still dive into a balance sheet or cash flow statement in order to divine a stock's true worth. On this week's Odd Lots we speak to Aswath Damodaran, a professor at NYU's Stern School of Business, and the foremost expert on stock valuation. He explains his general approach to valuing stocks, and how he might use that framework on companies like GE, Tesla, and Uber. | 11/20/2017 | Free | View in iTunes |
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CleanThis Is How a Currency Trader Actually Picks What to Buy and Sell | Most asset classes move in a fairly straightforward manner. They're either going up or down at any given time. But when it comes to currencies it's not that simple. Since they're all traded against each other (the pound vs. the dollar, the pound vs. the euro, the pound vs. the yen) there's always some rising and some falling at any given time. Everything's relative. So what drives these relative movements, and how do traders decide what bets to place? On this week's episode of the Odd Lots podcast, we talk to Ken Veksler, a currency trader, and director of Accumen Management about how this market operates, and how he navigates it. | 11/13/2017 | Free | View in iTunes |
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CleanHistory Has Some Ominous Warnings for Investors in Initial Coin Offerings | You can't go a day without hearing about ICOs or Initial Coin Offerings. By taking advantage of a regulatory gap and buzz surrounding cryptocurrencies, companies are raising millions of dollars by launching their own coins. But what's the point of these coins? What are they supposed to do? And what are the pitfalls? On this week's podcast, we talk to Elaine Ou, a blockchain engineer at Global Financial Access and a Bloomberg View contributor about the economics of ICOs, and how previous attempts at creating similar markets ended up as failures. | 11/6/2017 | Free | View in iTunes |
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CleanEverything You've Been Taught About How to Value a Stock Might Be Wrong | Investors are constantly poring over income statements from big companies to figure out whether they should buy or sell the business's stock. But should they bother? In this week's episode, Joe and Tracy talk to Feng Gu, a professor at SUNY Buffalo, and Baruch Lev, a professor at NYU's Stern School of Business, about why the way we account for a company's earnings might be massively outdated. | 10/30/2017 | Free | View in iTunes |
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CleanETFs Are Eating the Financial World and They're Not Done Yet | By now, almost everyone in financial markets is familiar with ETFs (exchange-traded funds), and how they allow investors to move quickly in and out of a basket of stocks with a few clicks. But perhaps people don't realize quite how revolutionary they are, and how much of an impact they've had on the financial system. On this week's episode we talk to Eric Balchunas, an ETFs analyst at Bloomberg Intelligence and Joel Weber, the editor-in-chief of Bloomberg Markets magazine about how extraordinary ETFs are, how far they've come, and how they're about to evolve and get even more gigantic. | 10/23/2017 | Free | View in iTunes |
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CleanHow One Trader Won Big While Everyone Else Panicked on Black Monday | On Monday October 19th, 1987, the Dow Jones fell 508 points in a one day crash that will forever be known as "Black Monday". In honor of the 30th anniversary, Joe and Tracy talk to Blair Hull, managing partner of Hull Trading Co., who was actively trading that day. While everyone else panicked, Hull spotted an opportunity and won big in the chaos. On this episode, we talk about how he was able to keep his head above water and what lessons that day holds for markets today. | 10/16/2017 | Free | View in iTunes |
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CleanWhat We Can Learn About Market Liquidity By Looking At Everyday Life | "Liquidity" is one of the most widely-talked about yet least understood concepts in markets. Roughly speaking, a market is liquid if you can transact in it without affecting the price significantly. But there's little agreement about why some markets are more liquid than others, or why liquidity sometimes just evaporates with little notice. This week we speak to Karthik Shashidhar, the author of "Between The Buyer And The Seller" about what we can learn about liquidity from things like Uber, dating apps, and real estate brokers. | 10/9/2017 | Free | View in iTunes |
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CleanInside the Changing World of the Sell-Side Analyst | The world of sell-side analysts has been upended in recent years with intense competition, new technology and regulation in the form of MIFID. At the same time, many of the issues being faced by the analyst industry are similar to the ones now faced by the media.On this week's episode, we talk to Steven Abrahams, the former head of mortgage bond and securitization research at Deutsche Bank AG, and now the co-founder and CEO of Milepost Capital Management, about his two decades of experiences in fixed income analysis. He talks about how his role has evolved over the years, what makes a good sell-side analyst and the parallels between the research industry and journalism. | 10/2/2017 | Free | View in iTunes |
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CleanRevisiting The Strange Story Behind the Beanie Babies Bubble | To wrap up our series on financial bubbles, the Odd Lots podcast looks back at an early episode, focusing on one of the most iconic bubbles of the 20th century: Beanie Babies.Two market bubbles stand out from the late 1990s. Technology stocks that were supposed to make everyone a zillionaire. The other: A series of mass-produced stuffed animals priced at $5 each. Odd Lots hosts Joe Weisenthal and Tracy Alloway speak with Zac Bissonnette, author of "The Great Beanie Baby Bubble: Mass Delusion and the Dark Side of Cute," to figure out exactly what made millions of people believe that these plush cuties were destined to soar in value. We dive into the psychology behind one of the weirdest speculative manias of all time and draw a connection with the dotcom bubble. | 9/25/2017 | Free | View in iTunes |
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CleanThe Baseball Card Bubble Can Tell You A Surprising Amount About How Markets Work | There's a good chance that if you were a boy in the early 90s that you were a collector of baseball cards. For a few years, the baseball card industry went from being a niche collectible to a massive industry. It was, for a brief period, a legitimate bubble. On this week's Odd Lots podcast we talk to Dave Jamieson, the author of Mint Condition: How Baseball Cards Became an American Obsession. Among the topics we discussed include the role that pricing guides had in exacerbating the boom, the way that supply massively expanded to meet the raging demand, and how baseball cards have always been a gateway to various vices. | 9/18/2017 | Free | View in iTunes |
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CleanHow an Austrian Economist Explains The Tulip Bubble | The tulip bubble is the quintessential bubble. If you want to call something a bubble, just mutter something about tulips, and everybody will know what you're arguing. But what was the tulip bubble, really, and how did it form? To get a unique perspective on this historical episode, on this week's podcast we speak with Douglas French, an adherent of Austrian economics, and the author of a book on Tulip Mania. He argues that like many bubbles subsequently, this historical episode can be traced to bad monetary policy, which encouraged reckless speculation. | 9/11/2017 | Free | View in iTunes |
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CleanThis Is What Happened During The Great Florida Real Estate Bubble | During the 2008 financial crisis, Florida was an epicenter of the real estate meltdown. But for decades before that, the state has been characterized by booms and busts. In this week's episode of the Odd Lots podcast, we spoke with Arva Moore Parks, a Florida historian and preservationist about the great Florida real estate bubble of the 1920s, or as she calls it "The Boom." Parks tells us about the role of the real estate visionary George Merrick, whose influence on Florida remains today, and we discussed what this bubble had in common with others seen throughout history. | 9/4/2017 | Free | View in iTunes |
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CleanThis Is What All Great Stock Market Bubbles And Crashes Have in Common | Markets are at their most exciting when they're in a bubble. Spectacular fortunes can be made and lost in the blink of an eye. So how do bubbles form and end? On this week's episode of the Odd Lots podcast we talk to Scott Nations, the president and chief investment officer of NationsShares, and the author of "A History of The United States in Five Crashes." We discuss with him various stock market crashes and bubbles in U.S history, and what they all have in common. | 8/28/2017 | Free | View in iTunes |
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CleanWhat Looking Inside a Bank Archive Can Tell Us About Modern Finance | Royal Bank of Scotland has been around, in one form or another, for hundreds of years. The company keeps artifacts from its lengthy history in an archive that features everything from a customer ledger kept during the Great Plague and Great Fire of London in the 1600s, to a notice sent to branches in 1914 to shut down ahead of the start of World War I.On this week's episode of the Odd Lots podcast, we speak with Ruth Reed, Head of Archives and Art at RBS, about what it's like to be the archivist for a bank. We find out about her favorite objects in the bank's archive and discuss what they can tell us about modern finance and markets. | 8/21/2017 | Free | View in iTunes |
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CleanThe Biggest Lesson Investors Should Have Learned From the Crisis | It's been 10 years since the start of the credit crunch that eventually led to the global financial crisis. For many investors, the events of 2007 to 2008 shook their entire understanding of how markets are meant to work. In this week's episode of the Odd Lots podcast we speak to Mark Dow, a global macro trader and financial blogger, as well as a former economist at the U.S. Treasury and the International Monetary Fund.He walks us through some of the most important lessons that investors should have learned from the crisis, including why central bank stimulus efforts haven't had as much of an effect on the real economy, and why oil matters much less to the world than it once did. We also take a brief interlude to learn how a macro manager analyzes U.S. jobs numbers as they come out. | 8/14/2017 | Free | View in iTunes |
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CleanWhat Diner's Club Card Reveals About the Nature Of Money | We use money everyday, but it's rare to actually think about what money is or what it represents. And in fact many of the people who are the closest to it -- academics, traders, etc. -- understand it the least. On this week's episode of Odd Lots, we talk to Lana Swartz, an Assistant Professor at the University of Virgnia in the department of media studies. We discuss why money can be understood as a form of media, and specifically we talk about her work on Diner's Club, the original charge card. | 8/7/2017 | Free | View in iTunes |
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CleanHow The Bond Market Changed During A Veteran Trader's Decades On Wall Street | Most people have some kind of hazy conception of how the stock market works. Stocks are simple to understand, and there are only so many of them out there to trade. But the bond market is a whole different beast, and in some ways it remains way behind stocks in terms of how technology has changed the industry. On this weeks' Odd Lots podcast, we talk to Bloomberg's Rob Elson, a former trader, who spent decades in the industry. During our conversation, he talks about how he got into the business, how his job changed from the early days to its end, and what he learned about what it takes to succeed in trading. | 7/31/2017 | Free | View in iTunes |
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CleanWhat It's Like to Suddenly Become a Bond Manager in the Credit Crisis | We talk a lot on Odd Lots about the idea of investing. But what's it like to actually have to put money to work in some of the trickiest investing environments in history? David Schawel was an equity analyst who suddenly became the manager of a portfolio of subprime mortgage bonds during the worst of the credit crunch. Now he manages fixed-income portfolios for New River Investments. We talk to him about what it was like to manage a subprime portfolio back in 2008, the differences between stocks and bonds, and how to put money to work when lots of people are talking about an overvalued market. | 7/24/2017 | Free | View in iTunes |
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CleanWhy Wheat is the World's Most Exciting Market Right Now | Financial markets around the world are stuck in a long period of low volatility and boredom. But one pocket is seeing some wild action -- grains. Spring wheat (a form of high-protein wheat grown in the northern Midwest) has been on a tear, alongside action in soy and corn. What explains the whipsaw? Joe and Tracy speak with Tommy Grisafi, a longtime trader who works as a risk manager at Advance Trading, a firm that helps farmers take advantage of financial markets. Grisafi walks us through the history of the market, how technology is dramatically changing things and why things have suddenly gotten so darn volatile. | 7/17/2017 | Free | View in iTunes |
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CleanHow A Former Wall Street Trader Cracked The World Of Betting On Baseball | It's no secret that a lot of people in finance like to bet on things. But how many of them take the time to actually beat the house in gambling? On this week's Odd Lots, we talk to Joe Peta, a former Lehman Brothers trader, and the author of "Trading Bases," a book about betting on baseball. Peta started focusing on baseball after a freak accident (getting hit by an ambulance) gave him lots of time to think about applying his trading knowledge to baseball. Eventually he launched a $1 million baseball betting fund that returned 14 percent in a year to his investors. On this episode, Peta talks to us about why baseball is uniquely suited to data analytics, how he was able to exploit market inefficiencies, and what sports betting can teach us about market structure. | 7/10/2017 | Free | View in iTunes |
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CleanWhy a Natural Gas Company Is Shaking the World of Islamic Finance | Earlier this month, Dana Gas, a UAE-based company, rocked the world of Islamic finance by announcing that one of its Shariah-compliant bonds was, well, no longer Shariah-compliant. On this week's episode of Odd Lots, we speak to veteran Dubai-based journalist Frank Kane about the rise of Islamic finance (what it is, how it works, why it's grown so fast) and why the Dana Gas announcement is such a big deal. | 7/3/2017 | Free | View in iTunes |
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CleanThis Is What a Real-Life Wendy Rhoades Actually Does | This Is What a Real-Life Wendy Rhoades Actually Does | 6/23/2017 | Free | View in iTunes |
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CleanInside The Booming World of Initial Coin Offerings | Inside The Booming World of Initial Coin Offerings | 6/16/2017 | Free | View in iTunes |
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CleanThe True Story Of America's Catfish Gold Rush | The True Story Of America’s Catfish Gold Rush | 6/9/2017 | Free | View in iTunes |
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CleanWhy Everyone's Talking About the VIX and 50 Cent | Why Everyone’s Talking About the VIX and 50 Cent | 6/2/2017 | Free | View in iTunes |
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CleanPoker Legend Phil Hellmuth Has Advice That Traders Should Hear | Poker Legend Phil Hellmuth Has Advice That Traders Should Hear | 5/26/2017 | Free | View in iTunes |
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CleanWhat a 150-Year Old Indian Railway System Tells Us About Trade | What a 150-Year Old Indian Railway System Tells Us About Trade | 5/19/2017 | Free | View in iTunes |
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CleanHow Instagram Turned Into a Giant Market for Food | How Instagram Turned Into a Giant Market for Food | 5/12/2017 | Free | View in iTunes |
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CleanHow a Fund Manager's Trying to Fix Some of the Mideast's Issues | How a Fund Manager’s Trying to Fix Some of the Mideast’s Issues | 5/5/2017 | Free | View in iTunes |
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CleanOne Of The Top Chess Players Talks Computers & Options Trading | One Of The Top Chess Players Talks Computers & Options Trading | 4/28/2017 | Free | View in iTunes |
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CleanHow to Use Pop Music to Forecast the Stock Market | How to Use Pop Music to Forecast the Stock Market | 4/21/2017 | Free | View in iTunes |
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CleanWhat Happens When Markets As We Know Them Cease to Exist | What Happens When Markets As We Know Them Cease to Exist | 4/13/2017 | Free | View in iTunes |
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CleanInside the Hidden Cycles That Rule Markets and Life | Inside the Hidden Cycles That Rule Markets and Life | 4/7/2017 | Free | View in iTunes |
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CleanThis Is How You Know When the Stock Market Is in a Bubble | This Is How You Know When the Stock Market Is in a Bubble | 3/31/2017 | Free | View in iTunes |
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CleanHow a Fund Manager Teaches His Kids About Money and Banking | How a Fund Manager Teaches His Kids About Money and Banking | 3/27/2017 | Free | View in iTunes |
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CleanWhat the Berkshires Learned by Launching its Own Currency | What the Berkshires Learned by Launching its Own Currency | 3/24/2017 | Free | View in iTunes |
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CleanHow the Biggest Bull Market Could Go on for a Whole Lot Longer | How the Biggest Bull Market Could Go on for a Whole Lot Longer | 3/10/2017 | Free | View in iTunes |
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CleanThe Incredible True Story of the Real Life 'Trading Places' | The Incredible True Story of the Real Life ’Trading Places’ | 3/3/2017 | Free | View in iTunes |
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CleanCould Buddhism Save The Global Economy? | Could Buddhism Save The Global Economy? | 2/24/2017 | Free | View in iTunes |
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CleanHow Poker Explains the Battle of Passive and Active Investing | How Poker Explains the Battle of Passive and Active Investing | 2/17/2017 | Free | View in iTunes |
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CleanWhy It's Really Hard to Create a New Currency in a Revolution | Why It’s Really Hard to Create a New Currency in a Revolution | 2/10/2017 | Free | View in iTunes |
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CleanWhy Negotiating a Ransom Is the Trickiest Trade in the World | Why Negotiating a Ransom Is the Trickiest Trade in the World | 2/3/2017 | Free | View in iTunes |
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Clean64: Stay in School, Even if You're Planning to Join the Mob | 64: Stay in School, Even if You’re Planning to Join the Mob | 1/27/2017 | Free | View in iTunes |
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Clean63: This Is How Monetary Policy Works in The Islamic State | 63: This Is How Monetary Policy Works in The Islamic State | 1/20/2017 | Free | View in iTunes |
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Clean62: How The Biggest Bull Market Could Come Crashing Down | 62: How The Biggest Bull Market Could Come Crashing Down | 1/13/2017 | Free | View in iTunes |
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Clean61: Here's What's Going to Happen in 2017 | 61: Here’s What’s Going to Happen in 2017 | 1/6/2017 | Free | View in iTunes |
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Clean60: These Were the Most Interesting Stories of 2016 | 60: These Were the Most Interesting Stories of 2016 | 12/23/2016 | Free | View in iTunes |
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Clean59: What Sneakers Can Tell You About How Financial Markets Work | 59: What Sneakers Can Tell You About How Financial Markets Work | 12/16/2016 | Free | View in iTunes |
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Clean58: Ignore Investing's Mathematical Underpinnings at Your Peril | 58: Ignore Investing’s Mathematical Underpinnings at Your Peril | 12/9/2016 | Free | View in iTunes |
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Clean57: Was November the Start of a Huge Turning Point In Markets? | 57: Was November the Start of a Huge Turning Point In Markets? | 12/2/2016 | Free | View in iTunes |
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Clean56: How To Launch Your Own Form Of Money | 56: How To Launch Your Own Form Of Money | 11/25/2016 | Free | View in iTunes |
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Clean55: Here Are The Signs That A Civilization Is About To Collapse | 55: Here Are The Signs That A Civilization Is About To Collapse | 11/18/2016 | Free | View in iTunes |
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Clean54: How Trump Did Something Yellen, Draghi Could Only Dream Of | 54: How Trump Did Something Yellen, Draghi Could Only Dream Of | 11/11/2016 | Free | View in iTunes |
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Clean53: Why We Stopped Trusting Experts | 53: Why We Stopped Trusting Experts | 11/4/2016 | Free | View in iTunes |
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Clean52: What Math Models of Herding Cows Can Teach Us About Markets | 52: What Math Models of Herding Cows Can Teach Us About Markets | 10/28/2016 | Free | View in iTunes |
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Clean51: Why Everyone Is Freaking Out About Globalization | 51: Why Everyone Is Freaking Out About Globalization | 10/21/2016 | Free | View in iTunes |
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Clean49: The Man Who Wants to Better Trading by Slowing It (Correct) | 49: The Man Who Wants to Better Trading by Slowing It | 10/12/2016 | Free | View in iTunes |
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Clean48: The Lost History of Financial Market Modernization | 48: The Lost History of Financial Market Modernization | 10/3/2016 | Free | View in iTunes |
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135 |
Clean47: Why it's Time to Stop Using the Word 'Disruption' | 47: Why it’s Time to Stop Using the Word ’Disruption’ | 9/23/2016 | Free | View in iTunes |
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136 |
Clean46: Space Robots Are Helping Hedge Funds Invest | 46: Space Robots Are Helping Hedge Funds Invest | 9/16/2016 | Free | View in iTunes |
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137 |
Clean45: Why A Whistleblower Walked Away From Over $8 Million | 45: Why A Whistleblower Walked Away From Over $8 Million | 9/12/2016 | Free | View in iTunes |
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138 |
Clean44: What a 12-Year Knows About Money That an Economist Doesn't | 44: What 12-Year-Olds Know About Money That Economists Don’t | 9/2/2016 | Free | View in iTunes |
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139 |
Clean43: Seinfeld Can Teach You Everything You Need About Economics | 43: Seinfeld Can Teach You Everything You Need About Economics | 8/29/2016 | Free | View in iTunes |
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140 |
CleanThe Millennial Generation Is Stagnant And Older People Are Part | The Millennial Generation Is Stagnant And Older People Are Part | 8/22/2016 | Free | View in iTunes |
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141 |
Clean41: Billionaires Help Tell the Story of Brazil's Boom and Bust | 41: Billionaires Help Tell the Story of Brazil’s Boom and Bust | 8/15/2016 | Free | View in iTunes |
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142 |
Clean40: Why Summer Has Just Gone on Sale | 40: Why Summer Has Just Gone on Sale | 8/8/2016 | Free | View in iTunes |
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143 |
Clean39: The Insurance Market for Modern-Day Pirates | 39: The Insurance Market for Modern-Day Pirates | 7/29/2016 | Free | View in iTunes |
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144 |
Clean37: Why We Are Increasingly Divided Into Ideological Bubbles | 37: Why We Are Increasingly Divided Into Ideological Bubbles | 7/18/2016 | Free | View in iTunes |
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145 |
Clean36: How A Quant Saw Huge Changes That Took Place on Wall Street | 36: How A Quant Saw Huge Changes That Took Place on Wall Street | 7/11/2016 | Free | View in iTunes |
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146 |
Clean36: How A Quant Saw Huge Changes That Took Place on Wall Street | 36: How A Quant Saw Huge Changes That Took Place on Wall Street | 7/11/2016 | Free | View in iTunes |
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147 |
Clean35: There Was a Huge Opportunity The Night of the Brexit Vote | 35: There Was a Huge Opportunity The Night of the Brexit Vote | 7/1/2016 | Free | View in iTunes |
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148 |
Clean32: The Amateur Activists Who Took On The Foreclosure Machine | 32: The Amateur Activists Who Took On The Foreclosure Machine | 6/13/2016 | Free | View in iTunes |
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149 |
Clean30: How Finance Took Over the World | 30: How Finance Took Over the World | 5/27/2016 | Free | View in iTunes |
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150 |
Clean29: How an Old-School Chess Shop Survives in Modern New York | 29: How an Old-School Chess Shop Survives in Modern New York | 5/23/2016 | Free | View in iTunes |
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151 |
Clean28: Finance's Hot New Thing Ended Up In An Old-School Scandal | 28: Finance’s Hot New Thing Ended Up In An Old-School Scandal | 5/13/2016 | Free | View in iTunes |
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152 |
Clean27: Kentucky Derby Edition: Flip This Horse | 27: Kentucky Derby Edition: Flip This Horse | 5/4/2016 | Free | View in iTunes |
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153 |
Clean26: How To Make Money By Betting On The U.K.’s Big Referendum | 26: How To Make Money By Betting On The U.K.’s Big Referendum | 5/2/2016 | Free | View in iTunes |
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Clean25: Americans Are Miserable, and It's Swaying The Election | 25: Americans Are Miserable, and It’s Swaying The Election | 4/25/2016 | Free | View in iTunes |
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155 |
Clean24: Meet The Most Important Country Singer in Economics | 24: Meet The Most Important Country Singer in Economics | 4/15/2016 | Free | View in iTunes |
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156 |
Clean23: Iceland Jailed Its Bad Bankers But People Are Still Angry | 23: Iceland Jailed Its Bad Bankers But People Are Still Angry | 4/8/2016 | Free | View in iTunes |
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Clean22: The Unbearable Brightness of Being a Shadow Bank | 22: The Unbearable Brightness of Being a Shadow Bank | 4/4/2016 | Free | View in iTunes |
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158 |
Clean21: The Fraught Life of a Dumpster-Diving U.S. Short-Seller | 21: The Fraught Life of a Dumpster-Diving U.S. Short-Seller | 3/28/2016 | Free | View in iTunes |
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Clean20: The Time NYSE Floor Traders Tried to Prank President Reagan | 20: The Time NYSE Floor Traders Tried to Prank President Reagan | 3/21/2016 | Free | View in iTunes |
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CleanEpisode 19: Pow! Pow! El-Erian Talks Central Bank Ammunition | Episode 19: Pow! Pow! El-Erian Talks Central Bank Ammunition | 3/14/2016 | Free | View in iTunes |
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CleanEpisode 18: The Obscure Report That Spawned the ETF Industry | Episode 18: The Obscure Report That Spawned the ETF Industry | 3/7/2016 | Free | View in iTunes |
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CleanEpisode 17: How One Analyst Uncovered a $7 Billion Fraud | Episode 17: How One Analyst Uncovered a $7 Billion Fraud | 2/29/2016 | Free | View in iTunes |
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CleanEpisode 16: Making Money When Everyone Else is Losing Theirs | Episode 16: Making Money When Everyone Else is Losing Theirs | 2/22/2016 | Free | View in iTunes |
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CleanHow a Rural Irish Farmer Became an Expert on the Euro Crisis | How a Rural Irish Farmer Became an Expert on the Euro Crisis | 2/16/2016 | Free | View in iTunes |
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CleanEpisode 14: The World’s Only Stand-Up Economist | Episode 14: The World’s Only Stand-Up Economist | 2/8/2016 | Free | View in iTunes |
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CleanEpisode 13: How a Professor Won Gambling on an Obscure Sport | Episode 13: How a Professor Won Gambling on an Obscure Sport | 2/1/2016 | Free | View in iTunes |
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167 |
CleanEpisode 12: How a Consultant Foresaw the 2015 Commodities Crash | Episode 12: How a Consultant Foresaw the 2015 Commodities Crash | 1/25/2016 | Free | View in iTunes |
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CleanEpisode 11: How David Bowie Became a Financial Product | Episode 11: How David Bowie Became a Financial Product | 1/19/2016 | Free | View in iTunes |
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CleanEpisode 10: How the World Ended Up With a Boring Banana | Episode 10: How the World Ended Up With a Boring Banana | 1/11/2016 | Free | View in iTunes |
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CleanEpisode 9: The 2016 Predictions Episode | Episode 9: The 2016 Predictions Episode | 1/4/2016 | Free | View in iTunes |
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171 |
CleanEpisode 8: These Were Our Favorite Stories of 2015 | Episode 8: These Were Our Favorite Stories of 2015 | 12/28/2015 | Free | View in iTunes |
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172 |
CleanEpisode 7: How One Woman Tried To Sound Housing Crash Alarm | Episode 7: How One Woman Tried To Sound Housing Crash Alarm | 12/21/2015 | Free | View in iTunes |
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CleanEpisode 6: Meet The Man Who Made Millions Trading Mules | Episode 6: Meet The Man Who Made Millions Trading Mules | 12/14/2015 | Free | View in iTunes |
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174 |
CleanEpisode 5: 6,000 Years of Interest Rates | Episode 5: 6,000 Years of Interest Rates | 12/7/2015 | Free | View in iTunes |
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175 |
CleanEpisode 4: Can a Hedge Funder Cut Prescription Drug Costs? | Episode 4: Can a Hedge Funder Cut Prescription Drug Costs? | 11/30/2015 | Free | View in iTunes |
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176 |
CleanEpisode 3: The Strange Story Behind the Beanie Babies Bubble | Episode 3: The Strange Story Behind the Beanie Babies Bubble | 11/23/2015 | Free | View in iTunes |
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177 |
CleanEpisode 2: Under the Hood of the $8 Trln Corporate Bond Market | Episode 2: Under the Hood of the $8 Trln Corporate Bond Market | 11/16/2015 | Free | View in iTunes |
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178 |
CleanEpisode 1: Tom Keene on Mathiness and His Favorite Guitar | Episode 1: Tom Keene on Mathiness and His Favorite Guitar | 11/6/2015 | Free | View in iTunes |
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179 |
CleanThe Odd Lots Preview | The Odd Lots Preview | 11/4/2015 | Free | View in iTunes |
| 179 Items |
Customer Reviews
No comparison to the biggest debtor nation of all??
Good conversation but what stands out the most is the complete absence of discussion of the enormous US debt. Even if it was outside the scope of this podcast, I would have liked at least an allusion to our debt problem. To think that bankruptcy, default, and declaration of odious debt here is out of the realm of possibilities, in my humble opinion, is regrettable. Our politicians and banks will save themselves just like politicians and banks around the world do. If expedient for a future, restructured US government version to find a way to not pay Medicare and SS obligations, US bonds, etc., then they will do so. Unfortunately, similar to one of the podcast examples, foreign bond holders and banks will more likely be made whole than the US citizens who were forced to pay lifetimes’ worth of contributions. Some conversation in a future podcast would be great. I apologize if this prospect was previously covered in other podcasts but this one seemed appropriate for a revisit. I enjoy the show. Thank you.
Fantastic discussion re China
Fantastic discussion re China
Mostly unhearable
While the female co-host is bearable, I cannot bear to hear the whiny voice of the male co-host. Sometimes there are interesting subjects, but I cannot stand hearing this guy (I say that generously).
