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Odd Lots

Bloomberg

#16 in Business this week

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

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  • Jun 22, 2020 · 30 min

    What The Black Death And Spanish Flu Can Tell Us About What Comes Next

    Nobody knows what the post-COVID future looks like. But there are some lessons to be learned from previous pandemics. On today’s episode we speak with Jamie Catherwood of O’Shaughnessy Asset Management, aka the “Finance History Guy.” Jamie talks to us about what he’s learned from studying both the Spanish Flu and the Black Death about what this crisis means for markets and the economy. See omnystudio.com/listener for privacy information.

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  • Jun 18, 2020 · 44 min

    Chamath Palihapitiya Says A Reckoning Is Coming For Big Tech

    Chamath Palihapitiya is the CEO of Social Capital, the Chairman of Virgin Galactic and a partial owner of the Golden State Warriors basketball team. He’s also been an outspoken critic of the way the crisis and economic recovery have been handled. In April, he famously railed against the airline bailouts in a CNBC clip that went viral. On today’s podcast, he talks to us about how he would have handled the bailout differently, and why he sees a reckoning coming for powerful tech companies in the near future. See omnystudio.com/listener for privacy information.

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  • Jun 15, 2020 · 41 min

    Domino’s: This Is How A Pizza Chain Stock Did Just As Well As Google

    In the summer of 2004, Google went public and, as everyone knows, it’s done phenomenally well. What’s less known is that a few weeks later, Domino’s Pizza also went public. What’s crazy is that the stock has performed almost identically since then. On this episode, we speak with Jonathan Maze, the Editor-in-Chief of Restaurant Business Magazine about how they delivered this incredible performance. See omnystudio.com/listener for privacy information.

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  • Jun 11, 2020 · 40 min

    Why You Can’t Blame The Fed For Ultra-Low Interest Rates And Soaring Asset Prices

    One of the characteristics of the pre-crisis (and perhaps also the post-crisis) economy is the presence of very low interest rates, and financial asset prices that are expensive by historical standards. Of course, a lot of people are inclined to blame the Fed for this. But the real issue precedes the Fed, and in fact the Fed (and other central banks) are only responding to political decisions that depress consumption, investment and inflation. On this episode, we speak with Jon Turek, the author of the Cheap Convexity Blog, about how policies all around the world that suppress consumption and encourage exports are the real policy choices that lead to low rates and expensive financial assets. See omnystudio.com/listener for privacy information.

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  • Jun 8, 2020 · 53 min

    Two Investors Did A Tour Of The Globe To Find The Best Place To Put Their Money

    As many active fund managers have discovered in recent years, it’s extremely hard to find a sustainable edge in investing. But for people who put in hard work to discover opportunities off the beaten track, it may still be possible to find undiscovered value. On this episode, we speak with Burton Flynn and Ivan Nechunaev of Terra Nova Capital Advisors about their highly unusual approach to doing research. The two of them, along with their families, traveled the globe, spending a month at a time in different countries to find places to put their money. They explained to us why this approach was important, what they learned, which countries excite them the most, and how these markets are dealing with the COVID crisis. See omnystudio.com/listener for privacy information.

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  • Jun 5, 2020 · 51 min

    This Is What Happened To LIBOR During The COVID Crisis

    Welcome to Part V of the Odd Lots LIBOR series, in which Tracy Alloway and Joe Weisenthal take a look at life after LIBOR, the interest rate tied to more than $350 trillion worth of financial assets. For our final episode in our series on LIBOR, we look at what this particular crisis has meant for LIBOR and the transition process. We speak with Josh Younger, a managing director at JPMorgan, who looks at what LIBOR itself did during the worst of the market stress. He also identified specific ways that the market volatility may impede some of the target dates for moving off the benchmark index. See omnystudio.com/listener for privacy information.

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  • Jun 4, 2020 · 31 min

    How The Transition Away From LIBOR Is Actually Going

    Welcome to Part IV of the Odd Lots LIBOR series, in which Tracy Alloway and Joe Weisenthal take a look at life after LIBOR, the interest rate tied to more than $350 trillion worth of financial assets. It's one thing to talk about transitioning away from LIBOR, but it's another thing to actually do it. On the fourth episode of the series, we speak with Tom Wipf, Vice Chairman of Institutional Securities at Morgan Stanley, and the chair of the committee charged with sunsetting the rate. He takes us inside the effort to replace an interest rate that is entrenched in millions of financial contracts and tells us how it’s going. See omnystudio.com/listener for privacy information.

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  • Jun 3, 2020 · 32 min

    The Case for AMERIBOR As The Replacement for LIBOR

    Welcome to Part III of the Odd Lots LIBOR series, in which Tracy Alloway and Joe Weisenthal take a look at life after LIBOR, the interest rate tied to more than $350 trillion worth of financial assets. SOFR is the Federal Reserve’s preferred replacement for LIBOR, but it’s not the only alternative reference rate around. On the third episode of the series, we speak with Richard Sandor, a serial innovator in financial markets, and the CEO at American Financial Exchange. He explains why he thinks his own proposed rate, called AMERIBOR, could be a suitable benchmark and replacement for Libor. See omnystudio.com/listener for privacy information.

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  • Jun 2, 2020 · 30 min

    This Is The Index That's Supposed To Replace LIBOR

    Welcome to Part II of the Odd Lots LIBOR series, in which Tracy Alloway and Joe Weisenthal take a look at life after LIBOR, the interest rate tied to more than $350 trillion worth of financial assets. Troubles with LIBOR have kickstarted a massive project to transition to a new benchmark interest rate for financial markets. On the second episode of our series, we speak with Joe Abate, money market strategist at Barclays, about the proposed replacement known as the Secured Overnight Financing Rate, or SOFR. How is it different to LIBOR and what are the downsides of having an interest rate tied to actual marketplace transactions? See omnystudio.com/listener for privacy information.

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  • Jun 1, 2020 · 40 min

    Meet the Man Who Blew the Whistle on LIBOR

    Welcome to the Odd Lots LIBOR series, in which Tracy Alloway and Joe Weisenthal take a look at life after LIBOR, the interest rate tied to more than $350 trillion worth of financial assets. On the first episode in our LIBOR series, we speak with Richard Robb, a former interest rate trader who was one of the first to warn about potential manipulation of the Libor rate to which trillions of dollars worth of financial assets are tied. Robb, who’s now CEO of the hedge fund Christofferson, Robb & Company and teaches at Columbia University, warned of problems in the interest rate as early as the mid-1990s. He also had a front-row seat to witness the benchmark’s downfall after the 2008 financial crisis. He talks about what went wrong. See omnystudio.com/listener for privacy information.

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  • May 28, 2020 · 40 min

    Here’s Who Really Benefits From The Dominance Of The U.S. Dollar

    When people talk about the dominance of the U.S. dollar in global commerce, they often refer to it as a unique privilege of the United States that its currency is the world’s safe haven. But it’s not so clear who really benefits from the unique role played by the greenback. For one thing, there are wide swathes of U.S. workers whose industries are hurt by its strength. On this episode, we speak with Yakov Feygin, the Assistant Director of the Future of Capitalism project at the Berggruen Institute about the global winners and losers of the dollar system. See omnystudio.com/listener for privacy information.

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  • May 25, 2020 · 43 min

    Three Sovereign Debt Experts Explain How The World Can Instantly Bring Aid To Emerging Markets

    The economic crisis will result in an extraordinary amount of pain for emerging markets. In addition to the health disruption, the global economic collapse means that in many cases, exports have come to a standstill. So how can poorer countries be helped right now? On this episode, we speak with three experts in the field of sovereign debt. Lee Buchheit is formerly at Cleary Gottlieb and is considered to be the world’s foremost expert on sovereign debt law and restructurings. Mitu Gulati is a professor at Duke University School of Law and Ugo Panizza is a professor at the Graduate Institute of International and Development Studies in Geneva. The three have been working throughout the crisis to help put together a comprehensive aid plan for EMs. They talk to us about what it would look like, and why moving it forward has proven to be so difficult. See omnystudio.com/listener for privacy information.

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  • May 21, 2020 · 50 min

    What The Weak Recovery In Japan Can Teach Us About Re-Igniting The U.S. Economy

    Even with the recent stock market rally, expectations are poor for a robust recovery in the U.S. So what does history teach us about what works and what doesn’t? Richard Werner is an economist at Linacre College at the University of Oxford, and the proponent of what he calls the “Quantity Theory of Credit.” On this episode, he tells us about what he learned studying years of the Japanese economy, and what it means for the current crisis. See omnystudio.com/listener for privacy information.

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  • May 18, 2020 · 41 min

    Mark Cuban On Why The Government Should Directly Hire Millions Of People

    How should the government address the economic crisis? On this episode, we talk with Mark Cuban, the Shark Tank co-host and billionaire owner of the Dallas Mavericks, who has been outspoken about what he sees as necessary to address this crisis. He explains to us why he thinks the government should directly get in the business of hiring millions of people, along with other ideas to keep people employed and stimulate demand. We also talk about the NBA, his plan to fix healthcare, as well as his future political ambitions. See omnystudio.com/listener for privacy information.

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  • May 14, 2020 · 38 min

    The Coronavirus Crisis Could Lead To The Mother Of All Trade Imbalances

    With the acute phase of the health crisis having faded in China, factory activity has ramped up again. One big problem though: With the economy so depressed everywhere else, demand for the goods made in those factories has fallen off a cliff. This is just one way in which the virus is massively exacerbating trade imbalances that existed prior to this crisis, and which are now shaking the global economic order. On this episode, we speak with Matt Klein, an economics columnist at Barron’s, and the co-author of the new book Trade Wars Are Class Wars about the interplay of the crisis, world trade, geopolitics, and domestic political tensions. See omnystudio.com/listener for privacy information.

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  • May 11, 2020 · 40 min

    Richard Koo Explains Why The Recovery Will Be So Difficult

    Countries around the world are undergoing an unprecedented, simultaneous real economic shock. So how should policymakers respond? Richard Koo is the Chief Economist at the Nomura Research institute, and is well known for having popularized the concept of the “Balance Sheet Recession” drawing on his work from Japan’s post-bubble era. In today’s episode, he talks about how his work applies to this crisis, what can be done to revive growth, and why the aftermath will be so difficult. See omnystudio.com/listener for privacy information.

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  • May 7, 2020 · 43 min

    What the Market Crash Says About How Investing Works

    We’ve seen a huge market crash this year and a number of firms reporting portfolio losses. So why were so many big investors crowded into the same trades, and what does it say about investing as a whole? Should investors be playing up to their competitive advantage, or following the crowd to profit from momentum? Steven Abrahams, head of investment strategy at Amherst Pierpont Securities, has written a new book about competitive advantages in investing. We talk to him about how different types of investors place their money and why some portfolios can survive better than others. See omnystudio.com/listener for privacy information.

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  • May 4, 2020 · 45 min

    Nouriel Roubini Sees A Bad Recovery, Then Inflation, Then A Depression

    During the last crisis, the economist Nouriel Roubini earned the nickname “Dr. Doom” for his ominous prognostications about the economy and financial system. While he prefers the moniker “Dr. Realist” Roubini is once again extremely negative. On this week’s episode he explains why he sees a poor recovery, then a bout of inflation, and then ultimately a depression in the wake of this crisis. See omnystudio.com/listener for privacy information.

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  • Apr 30, 2020 · 39 min

    How To Fund The Search For A COVID-19 Vaccine And Boost The Recovery

    The hunt is on for a clinical therapy to prevent or treat COVID-19. But what’s the best way to go about this? How can governments accelerate this process? And what can governments do now to help a robust economic recovery? On this week’s Odd Lots, we speak with Bill Janeway, an economist and venture capitalist, who has written extensively on how the government can accelerate innovation by the private sector. He explains how his thoughts translate into the medical space and the post-crisis economy overall. See omnystudio.com/listener for privacy information.

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  • Apr 27, 2020 · 41 min

    Adam Tooze On How This Crisis Is Different Than The Last

    In 2018, Columbia history professor Adam Tooze published his magisterial work “Crashed”, which framed the Great Financial Crisis as essentially a crisis of the global dollar system (as opposed to merely a housing bubble). Now we’re experiencing numerous systemic frailties all at the same time, amid extraordinary difficult times for the real economy, the financial system, and virtually every government around the world. On this week’s episode, Tooze compares and contrasts the last crisis to this one, and how it might permanently change our world. See omnystudio.com/listener for privacy information.

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Showing 1,021–1,040 of 1,302 episodes