Odd Lots
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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How Crypto Could Cause the Next Financial Crisis (Podcast)
May 9, 2021
What will the economy really look like when things normalize? Lots of people are, of course, anticipating a sustained rise in inflation, even beyond …
Hayden Adams Explains Uniswap and the Rise of DeFi (Podcast)
May 5, 2021
There's an irony with crypto. While so much of it is ostensibly about circumventing legacy finance, many of the most important pieces of crypto infra…
How to Make the US Semiconductor Industry Boom Again (Podcast)
May 2, 2021
This year, everyone's become aware of the hollowing out of U.S. semiconductor manufacturing capacity. Whether it's the rise of TSMC, the stumbles at …
What Adam Tooze Learned About the World Last Year (Podcast)
April 28, 2021
There's probably nobody better at synthesizing massive events like Columbia professor Adam Tooze. His book Crashed, which came out in 2018, was proba…
Why the Price of Lumber Has Soared (Podcast)
April 25, 2021
It's not often that lumber becomes a national obsession. But this year it has. Thanks to a combination of factors, including diminished sawmill capac…
How to Build a Portfolio to Outperform For a Century (Podcast)
April 21, 2021
There's a huge question mark at the moment about whether markets are at some sort of important turning point. For instance, we've seen big amounts of…
John Hempton on What It's Like To Short Right Now (Podcast)
April 18, 2021
It's a weird moment for the markets. The big stock indices are near all time highs. And yet there have been some high profile meltdowns and blowups. …
Zach Carter on the Story of Weimar Hyperinflation (Podcast)
April 14, 2021
Whenever the government is engaging in fiscal or monetary expansion, people like to invoke the history of Weimar Germany and how soon we might all go…
Slavoj Žižek on the Future of Capitalism (Podcast)
April 11, 2021
When GameStop shares skyrocketed earlier this year, numerous pundits were quick to ascribe political significance to the whole thing. Was it a rebell…
Why Treasury Market Spasms Keep Happening (Podcast)
April 7, 2021
The U.S. Treasury market is the biggest, most liquid market in the world. Its smooth functioning is also crucial to the economy and the financial sys…
Why the Price of a Bond Can Still Be Hard To Know (Podcast)
April 4, 2021
In the modern age, we expect to be able to turn on our computers, enter in a ticker, and know the actual price of a financial instrument, such as a s…
The Ex-Trader Building a Multi-Billion Crypto Empire (Podcast)
March 31, 2021
How Gigantic Ships Create Global Supply Chain Havoc (Podcast)
March 30, 2021
The Ever Given has been freed from the Suez Canal. But the whole situation was indicative of a broader issue in global supply chains: increasingly la…
Virtu CEO Doug Cifu Explains the Future of HFT (Podcast)
March 28, 2021
When the GameStop and Robinhood story exploded at the end of January, suddenly everyone took an interest in market structure, and things like payment…
Josh Younger on the Soaring Cost of Climate Change (Podcast)
March 24, 2021
What is the connection between the big trend in interest rates over the last several years and the cost of climate change mitigation? This is a quest…
Luke Kawa on the Macro Situation Right Now (Podcast)
March 21, 2021
Over the last several weeks, we've seen major developments in the macro situation. The vaccine rollout has accelerated. We've gotten a stimulus. The …
How MMT Won the Fiscal Policy Debate (Podcast)
March 17, 2021
In a sense, Modern Monetary Theory has won. This is not because policy measures are necessarily in line with what MMT adherents would prescribe. Rath…
Was There Just a Break in the Neoliberal Consensus?(Podcast)
March 13, 2021
For decades, the dominant economic philosophy of the United States has been that fiscal policy should be relatively inert, and that the Fed should be…
Michael Pettis on Imbalances in Post-Pandemic China (Podcast)
March 10, 2021
By some measures, the Chinese economy did better in 2020 than just about anywhere else. For one thing, it actually grew last year. Also because of th…
Why Music Back Catalogs Have Become a Hot Asset Class (Podcast)
March 7, 2021
Bob Dylan did it last year. Shakira did it in January. More and more famous musicians are selling off the rights to their back catalogs to investors.…
Zoltan Pozsar on What Just Happened in Treasuries (Podcast)
March 3, 2021
The Treasury market just experienced what some might call a tantrum. Across the yield curve, we saw rates shoot up. And it's not even clear why it ha…
Howard Lindzon Tells Us Why He Launched His Own SPAC (Podcast)
February 28, 2021
SPACs, sometimes referred to as blank check companies, are incredibly hot. After being a sort of sleepy and sometimes sketchy backwater of the financ…
What's Behind the Boom in Agricultural Commodities (Podcast)
February 24, 2021
There are a lot of hot areas in the market, which everybody knows. Stocks are obviously hot, as are industrial commodities like copper. Agricultural …
Why the World Has a Shortage of Semiconductors (Podcast)
February 21, 2021
The world is facing a chip shortage. Numerous companies, including the auto sector, are facing an inability to get semiconductors, hampering their ab…
Why Most Value Managers Are Getting It All Wrong (Podcast)
February 18, 2021
As you might have heard, so-called value investing has not had a good run. At least from a quantitative standpoint, strategies that aim to buy low-va…
How Boring Food Companies Become Huge Stock Winners (Podcast)
February 16, 2021
During the worst of the pandemic, people loaded up on staples from their grocery store. Shelf-stable food items, beverages, canned tuna, canned soup,…
How Monster Beverage Shares Soared a Monster 100,000% (Podcast)
February 14, 2021
When you think about the big winners in the stock market over the past couple of decades, you might think about Amazon or Apple or some other tech wi…
ARK's Head of Research on How They Find Winners (Podcast)
February 10, 2021
In a world dominated by passive investing on one end and retail YOLO traders on the other, there aren't many star fund managers these days. There's o…
How to Rebuild Finance with Crypto (Podcast)
February 7, 2021
Bitcoin, and crypto more broadly, have been on a huge tear lately. Then, with the chaos surrounding GameStop, there's been more discussion about whet…
The Silver Squeeze and the Coming Commodities Boom (Podcast)
February 4, 2021
It's been a weird several days in the market. What started with a short squeeze in GameStop, driven by Reddit traders, somehow morphed into a huge su…
How Retail Traders Rocked Markets like Never Before (Podcast)
February 2, 2021
We know that retail activity, much of it on Robinhood, has been surging since last spring when the lockdowns began. But just how big of an impact is …
Is The GameStop Trade Really A Political Rebellion? (Podcast)
February 1, 2021
The GameStop short squeeze is one of the most extraordinary events to ever happen in markets. But does it have political significance? Some are sayin…
Can Open-Source Semiconductors Upend the Industry? (Podcast)
January 31, 2021
We're seeing historic change happening in real time in the chip industry. The old leaders are going away, and new players and new models are emerging…
How to Make the Score of a Lifetime on GameStop (Podcast)
January 29, 2021
Everyone is talking about GameStop. The physical games retailer that was left for dead has been one of the hottest stocks of the year, surging well o…
China's Mission to Be the Leader in Semiconductors(Podcast)
January 27, 2021
We've been talking a lot on the podcast about semiconductors. The stumble of Intel. The general troubles with US manufacturing, and, of course, the r…
How Taiwan Semiconductor Came To Dominate The World (Podcast)
January 24, 2021
In every conversation about computer chips, it always comes back to the dominant player: Taiwan Semiconductor. Founded in the 1980s, it's far and awa…
The Important Lesson a Quant Manager Learned in 2020 (Podcast)
January 21, 2021
It goes without saying that 2020 was a year like no other when it comes to the markets. A historic crash, and then a raging recovery, all set against…
Why the Cost of Shipping Goods From China Is Soaring (Podcast)
January 17, 2021
The coronavirus crisis snarled global shipping in early 2020 as borders were closed, but lots of people expected it to improve as vessels returned to…
How the U.S. Lost Chip Dominance (Podcast)
January 14, 2021
The U.S. was once a manufacturing leader in semiconductors. That's no longer the case, given the rise of contract manufacturing and outsourcing, the …
Cowen's Co-President on Why SPACs Are Having a Moment (Podcast)
January 10, 2021
One of the surprising developments in the last year was the boom in SPACs. The so-called blank check companies raised more money in 2020 than they ha…
Chess Grandmaster Hikaru Nakamura on Twitch Streaming (Podcast)
January 6, 2021
We're in a rare moment where chess is popular in the United States. There are two big factors driving it. One is the smash hit Netflix show "The Quee…
How Europe's Economy Changed After the Black Death (Podcast)
January 3, 2021
It's been pointed out that, after the Black Death in Europe, real wages surged because there was such a shortage of labor in the aftermath. But what …
This Is How Prejudice Can Hinder the Economy (Podcast)
December 30, 2020
Economics is all about improving living standards, but rarely does the dismal science deal with social justice or talk about how a lack of it could a…
Goldman's Jan Hatzius on the Lessons Learned in 2020 (Podcast)
December 27, 2020
2020 has been an absolutely extraordinary year for the economy. In March, we saw the fastest economic contraction in history with an extraordinary su…
How a Software Company Became a Bitcoin Company (Podcast)
December 23, 2020
This past summer, the business intelligence software company MicroStrategy made waves when it put some of its extra cash into Bitcoin. Then, as Bitco…
Camille Fournier on Building Tech at Two Sigma (Podcast)
December 20, 2020
We talk a lot about quantitative trading on the podcast, but typically from a rather big picture perspective, and not at the level of actually buildi…
Apple Is at the Cutting Edge of a Revolution in Chips (Podcast)
December 17, 2020
On a recent episode of Odd Lots, we talked about Intel, and how the former dominant American semiconductor company was stumbling. But big things are …
This Is the Macro Picture Going Into 2021 (Podcast)
December 12, 2020
It's obviously been an extraordinary year for markets and the economy for reasons that don't need stating at this point. But what does 2021 have in s…
Why Africa Borrowed Billions of Dollars From China (Podcast)
December 9, 2020
It's no secret that some African nations went on a borrowing spree in recent years, tapping both international markets and sovereign lenders such as …
Why The IMF Changed Its Views On Capital Controls (Podcast)
December 4, 2020
For years, the IMF was generally of the view that free trade was good, and that open capital flows were also good. But in recent years, the latter vi…
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