Bloomberg’s Joe Weisenthal and Tracy Alloway take you on a not-so random walk through hot topics in markets, finance and economics.
Zach Carter on the Real Story of Weimar Hyperinflation
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 around transporting dollars in wheelbarrows. But what really happened with Weimar and how did it come about? On this episode, we speak with Zach Carter, the author of the best-selling book “The Price of Peace: Money, Democracy, and the Life of John Maynard Keynes.” He explains how the story of collapse of the German currency was less about money printing and more about domestic political collapse and the destruction of the country's productive base.
Slavoj Žižek on GameStop, WallStreetBets, and the Future of Capitalism
When GameStop shares skyrocketed earlier this year, numerous pundits were quick to ascribe political significance to the whole thing. Was it a rebellion? Was it class warfare in the spirit of Occupy Wall Street? On this episode of Odd Lots, we speak with the Slovenian philosopher Slavoj Žižek, who argues that the episode was significant and radical, but not in the way most people appreciate. We also talked about algorithmic trading, WallStreetBets, the pandemic, and what's next for the future of capitalism.
Why Treasury Market Spasms That Shouldn't Happen Keep Happening
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 system. Yet it keeps experiencing bizarre, seemingly inexplicable bouts of volatility. We saw it in February. We saw it big time last March. And we saw it multiple times in recent years before then. On this episode, we speak with Yesha Yadav, a professor at Vanderbilt Law School, who argues that these episodes can be explained by the inadequate patchwork of regulations governing this market.
Why the True Price of a Bond Can Still Be Hard To Know
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 stock or a bond. But this is easier said than done, especially with bonds, and especially with bonds that are infrequently traded. Sometimes, in fact, bond pricing is a matter of opinion. At least that's the contention of Maciej Kowara and Eric Jacobson, analysts at Morningstar, who published a report earlier this year titled “Bond Pricing: Agreeing To Disagree.” They explain why there can still be disagreements about what a bond is actually worth from one firm to another.
The Ex-Jane Street Trader Who's Building a Multi-Billion Crypto Empire
The crypto market has come a long way in recent years. But it's still far less efficient than your typical established market. To understand more about crypto market structure, we spoke with Sam Bankman-Fried. Sam is a former international ETF trader at the prop shop Jane Street Capital. Now he's building a crypto empire with his hedge fund Alameda Research as well as his own exchange called FTX. He talks us through his path into the industry and how it works more broadly.
How Gigantic Ships Are Creating Global Supply Chain Havoc
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 large ships are contributing to logistical bottlenecks. This was true long before the latest issue on the Suez. On the latest episode of Odd Lots, we speak with economist and historian Marc Levinson, the author of the book The Box, to discuss the rise of extremely large ships and the stress they place on ports, canals, and other parts of the global trading infrastructure.
Always enjoyable and insightful. Keep up the great work!
Not an episode to miss!
This is one of a handful of podcasts that I always make time to listen to. Topics off the beaten track that almost never make it to the mainstream, yet greatly informative. Well done team!