Odd Lots

Bloomberg
  • 4.5 (1.4K)
  • INVESTING
Odd Lots Podcast

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

  1. 1 HR. AGO

    The Booming Crypto Use Case That's Happening Right Now

    Pretty much since the moment that cryptocurrencies came into existence, there's been a chorus of skeptics who argue that they solve no real world use cases, except for gambling and speculation. For a while, there was a lot of hype about things like Web3 or DeFi, but for the most part, these still remain in the realm of pure speculation and gambling. And so, the ultimate use case for crypto remains elusive. Our guest on this episode argues otherwise. He thinks that stablecoins, such as Circle or Paxos, which are backed by actual dollar instruments in regulated institutions running on public blockchains (like Ethereum or Solana) are solving a genuine problem in transmitting money, beyond just speculating on other cryptocurrencies. Austin Campbell is an adjunct professor at Columbia Business School and the founder of Zero Knowledge Consulting. He also comes with a long resume at both crypto and legacy financial institutions. He explains why stablecoins are having a moment and explains the problems they currently solve (particularly internationally) and why legacy payments infrastructure is unlikely to serve the same needs.  Read more: The Case for Stablecoins Being the New Shadow Banks How Stablecoins Became a Powerful Force in Crypto  Only Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at  bloomberg.com/subscriptions/oddlots See omnystudio.com/listener for privacy information.

    52 min

  2. 1 DAY AGO

    How Hedge Funds Discover the Next Superstar Trader

    One of the problems in investing or trading is that — to use a common disclaimer — past results are no guarantee of future success. Someone can have a great track record in their stock picks, but maybe they just got lucky. Or maybe they were particularly well-dialed into one market regime that inevitably shifts. Or maybe they're actually just better than other traders. For multi-strategy hedge funds or "pod shops," there's an ongoing battle to hire or train the next great portfolio manager. But how can managers tell who is actually good and who isn't? On this episode of the podcast, we speak with Joe Peta, who was previously the head of performance analytics at Point72 Asset Management and has had a long career in the trading world. He's also an avid fan of sports gambling, and the author of the recent book, Moneyball for the Money Set, which attempts to take some of the talent analytical principles that originated in Major League Baseball and apply them to evaluating portfolio managers. He talks us through the traditional approach funds use to find or create superstars, and how these approaches can be improved upon using more rigorous, quantitative methods.Mentioned in this episode: Hedge Fund Talent Schools Are Looking for the Perfect TraderHow to Succeed at Multi-Strategy Hedge Funds Only Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at bloomberg.com/subscriptions/oddlots See omnystudio.com/listener for privacy information.

    55 min

  3. 4 DAYS AGO

    The Black Hole of Private Credit That's Swallowing the Economy

    There's been a lot of talk about private credit in recent years. The market has exploded in size, and there are worries that it could be a bubble that eventually bursts and sparks disaster. But there are other negative effects from private credit that might already be happening. In a new paper called "The Credit Markets Go Dark," co-authors Harvard Law School professor Jared Ellias and Duke University School of Law professor Elisabeth de Fontenay argue that the $1.5 trillion market for private credit is already having a big impact on the economy — and not in a good way. They say that the rise of private credit marks a seismic change for corporate governance and dynamism.Read More: Odd Lots Newsletter: The Black Hole of Private CreditPrivate Credit Pushes Deeper Into Risk That Wall Street Is FleeingOnly Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at bloomberg.com/subscriptions/oddlots See omnystudio.com/listener for privacy information.

    54 min

  4. AUG 30

    Adam Posen on the Dangers of Jerome Powell's 'Rifle Shot' Jackson Hole Speech

    Last week at Jackson Hole, Federal Reserve Chair Jerome Powell delivered a short and powerful speech indicating that it's time for a policy pivot. The goal now, from his perspective, is to prevent further deterioration of the US labor market. His speech didn't delve much into theory or nuance. In this episode, we speak with Peterson Institute President, Adam Posen, who found the speech unsatisfying. He argues that the state of the labor market, while cooling, didn't merit a "rifle shot" approach, such as the one Powell delivered. He explains his concerns and how he sees the risks materializing from here. See omnystudio.com/listener for privacy information.

    34 min

  5. AUG 29

    Hyun Song Shin on How Big the Yen Carry Trade Really Is

    Remember August 5th? That was the day that markets around the world plunged in historic fashion and everyone became an overnight expert on the yen carry trade. But what really is the yen carry trade? How big is it? Who is making the trade? And what is its connection to markets all around the world? On this episode, recorded at the Kansas City Federal Reserve Bank of Kansas City's Economic Symposium in Jackson Hole, Wyoming, we speak with Hyun Song Shin, economic advisor and head of research at the Bank for International Settlements. He walks us through the mechanics of the trade, what went on in early August, and the lessons we've already learned from it.Only Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at  bloomberg.com/subscriptions/oddlots See omnystudio.com/listener for privacy information.

    38 min

  6. AUG 28

    A New Way for the Fed to Fight a Market Crisis

    When the Treasury market broke in March 2020, the Federal Reserve intervened in extraordinary fashion. It purchased more than $1 trillion worth of Treasury securities in that month alone. Superficially, this looked a lot like the Quantitative Easing that we came to know during the GFC. But it's purpose was different. This wasn't about depressing the yield curve or providing a form of strong forward guidance. Instead, it was the Fed taking on a role of the "market maker of last resort," so to speak. And yet, despite the different goals, the two different operations look the same and are carried out by the same officials (the members of the FOMC). This creates confusion, cost, and can create a situation where it looks like the Fed is working against itself. On this episode of the podcast, which was recorded in Jackson Hole at the Kansas City Fed's annual Economic Symposium, we speak with University of Chicago Booth professor, Anil Kashyap. He presented a paper at the conference proposing a separate tool within the Fed that can handle balance sheet operations for financial stability. We discussed his proposal along with broader questions about the transmission of monetary policy. Related link: Monetary Policy Implications of Market Marker of Last Resort Operations See omnystudio.com/listener for privacy information.

    34 min

  7. AUG 27

    This Is What The Rate Cut Cycle Could Look Like

    At Jackson Hole, Fed Chairman Jerome Powell gave a clear signal that the rate cut cycle is likely to start in September. But of course that just opens more questions. Will it be a 25bps cut? Will it be 50? Could it be two 50s in a row? When does it stop? On today's episode, we speak with Peter Williams, a macro strategist at 22V Research. He walks us through his interpretation of Powell's speech and what to look for as the rate cut cycle begins. Only Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at  bloomberg.com/subscriptions/oddlots See omnystudio.com/listener for privacy information.

    27 min

  8. AUG 26

    What It’s Like to Be a Fed President at Jackson Hole

    This year’s Economic Symposium in Jackson Hole, Wyoming marked a big change for US monetary policy, with Federal Reserve Chairman Jerome Powell telegraphing the first rate cuts in potentially two years. But what’s it actually like to be a policymaker at one of the most famous economics conferences in the world? And what do central bankers do when they all get together to talk policy? In this episode, we catch up with Richmond Fed President Tom Barkin, who describes what it’s like to be at Jackson Hole, what’s discussed and how the annual agenda put together by the Kansas City Fed comes together. We also talk about Powell’s speech and how Barkin is viewing the labor market right now. Powell’s Pivot Leaves Traders Debating Size, Path of Rate Cuts Only Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at  bloomberg.com/subscriptions/oddlots See omnystudio.com/listener for privacy information.

    35 min
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Hosts & Guests

4.5
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About

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

Information

  • Channel
    Bloomberg
  • Creator
    Bloomberg
  • Years Active
    2015 - 2024
  • Episodes
    841
  • Rating
    Clean
  • Copyright
    2024 iHeartMedia, Inc. © Any use of this intellectual property for text and data mining or computational analysis including as training material for artificial intelligence systems is strictly prohibited without express written consent from iHeartMedia
  • Show Website
    Odd Lots
  • Provider
    Bloomberg L.P.

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