Patrick Boyle On Finance

Patrick Boyle

This podcast is all about quantitative finance and financial history. Subscribe to hear about financial markets, derivatives, and how investors use quantitative tools from statistics and corporate finance theory. Included are interviews with some of the most interesting thinkers in finance. Occasional longer form financial documentaries, open up fascinating elements of financial markets history. Patrick Boyle is a quantitative hedge fund manager, a university professor, and a former investment banker. To contact Patrick visit http://onfinance.org Find Patrick on YouTube at: https://www.youtube.com/c/PatrickBoyleOnFinance DISCLAIMER:This podcast is not affiliated with any financial institution. The information provided is for entertainment purposes only and does not constitute financial advice. Those seeking investment advice should seek out a registered professional in their home jurisdiction and confirm their credentials on your national regulator's website. Patrick Boyle is not responsible for any investment actions taken by viewers and his content should not be used as a basis for investment or other financial decisions.

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317 episodes
Updated July 27

Episodes317

Newest first

Aug 17, 2021 · 8 min
Should Politicians Trade Stocks? Congressional Insider Trading
Send us a textInsider trading, or the act of buying or selling investments based on nonpublic information, is against the law in the United States and in most countries. At its core, insider trading benefits well connected investors at the expense of the general public and it has been illegal in the US since 1934 – at least for corporate insiders. I made a video a few months ago on the biggest insider trading scandals, and a lot you asked in the comments section “what about politicians”...
Aug 10, 2021 · 11 min
Sinner or Saint - ESG Investing vs. Vice Investing
Send us a textESG (or environmental, social and governance) investing is one of the hottest things in markets right now, with large fund managers competing to be seen to take ESG more seriously than the next. Setting aside any moral judgements, the commercial rationale for the investment management industry is pretty clear: ESG funds have attracted about $350bn over the last two years, almost twice as much as the rest of the stock fund universe combined.The opposite of ESG investing is ...
Aug 3, 2021 · 8 min
Insider Trading on The Dark Web
Send us a textApostolos Trovias was recently arrested in Peru and charged by the SEC with perpetrating a fraudulent scheme to sell what he called "insider trading tips" on the Dark Web. According to the complaint, Trovias, using the online avatar "TheBull" engaged in a deceptive scheme to sell "insider trading tips" on Dark Web marketplaces like Alpha Bay. The Bull claimed that the information he was selling consisted of order-book data from a securities trading firm that was provided to him ...
Jul 27, 2021 · 9 min
Consumer Protections in Crypto Investing
Send us a textLast week Janet Yellen called for rapid action to ensure there is an appropriate US regulatory framework in place for crypto-assets. A month ago the Basel Committee on Banking Supervision said that banks’ exposures to crypto should carry the toughest capital requirements. Todays video looks at what consumer protections are in place for crypto investors today. What regulations protect you? What happens if you are hacked, or if a crypto exchange goes bust? What will the SEC do abo...
Jul 21, 2021 · 22 min
When Pubs Briefly Replaced Banks in Ireland
Send us a textToday we are going to discuss the Irish Banking Strike of 1970 when all of the countries clearing banks closed for over six months, only to find themselves quickly replaced by local pubs. We will discuss if something like this could work again, and at the end of the video we will compare how the system that emerged compares to more modern ideas like cryptocurrencies.Between 1966 and 1976, there were three major banking strikes in Ireland in which all of the clearing banks were c...
Jul 15, 2021 · 10 min
The First SPAC on The Moon!
Send us a textSEC Charges Stable Road SPAC and Space Startup Momentus with Misleading Claims.The SEC announced on Tuesday that it charged blank-check company Stable Road Acquisition Corp (SRAC.O), its sponsor SRC-NI, space exploration company Momentus Inc and two executives for misleading claims over their planned merger.The SEC said the companies and Stable Road Acquisition Company Chief Executive Brian Kabot agreed to pay $8 million to resolve allegations they misled investors about Momentu...
Jul 10, 2021 · 16 min
Should Companies Make Political Donations?
Send us a textCompanies across major sectors of the market are reassessing political donations in response to the January 6th storming of the U.S. Capitol, but it is too soon to know whether it leads to fundamental changes in the way money flows between politics and business. In this video we discuss whether companies should make political donations?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cj...
Jul 5, 2021 · 7 min
China cracks down on Didi days after IPO
Send us a textDiDi is a Chinese Ride Hailing app that raised $4.4bn in its listing on the New York Stock exchange this Wednesday. This was the biggest Chinese listing in the US since Alibaba listed seven years ago. The stock initially rallied, then two days later news broke that the Chinese regulators are investigating the company. They say they are doing this “in order to maintain national security and protect the public interest.” The stock fell 5.3 per cent on Friday to $...
Jun 23, 2021 · 11 min
Lordstown Motors Executives Sold $8 Million of Stock Before Bad News Broke
Send us a textMembers of the leadership team at Lordstown Motors appear to have sold large amounts of company stock just before reports of various troubles at the company became public. Five top Lordstown executives—including president Rich Schmidt, now former chief financial officer Julio Rodriguez, and propulsion head Chuan "John" Vo—sold some of their shares worth a total of more than $8 million in early February when the stock was worth around $24 a share. Today, it's worth around $10.Pat...
Jun 16, 2021 · 18 min
Where Have All The Stocks Gone?
Send us a textThe Private Capital Industry Soars Beyond $7 TrillionOver the past twenty years, the number of companies listed on the US stock market has almost halved. The world’s largest, most liquid public equity market would appear to have lost its shine.Institutional investors have been piling into private markets instead, in particular venture capital, private equity and private debt. The Financial Times reported last week that the size of the private capital industry has now reached $7....
Jun 8, 2021 · 18 min
Inflation - A New Era?
Send us a textUnprecedented stimulus measures to help the global economy recover from the pandemic are fueling price rises in many major economies. This week we examine whether this is just temporary, or if inflation is back for good. Is this a new era of hyperinflation?Interview With Manoj Pradhan: https://www.youtube.com/watch?v=SHf0o...Book by Manoj Pradhan - The Great Demographic Reversal: https://amzn.to/2TBpGsaPatrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerL...
Jun 8, 2021 · 19 min
Robinhood IPO Access
Send us a textRobinhood will give retail investors access to IPO shares. Robinhood announced last week that they are building a platform to “democratize” initial public offerings, including their own, that would allow users of its trading app to buy shares alongside Wall Street funds.The move could erode Wall Street’s grip on stock market flotations. It would be easier to implement for Robinhood’s own IPO, given how companies and their investment bankers tightly control allocations to investo...
May 20, 2021 · 23 min
The Five Biggest Insider Trading Scandals
Send us a textThe top five insider trading scandals. When people hear the term “insider trading,” they think of the crime. But insider trading is just the trading of a public company's securities by people with access to nonpublic or insider information about the company. There are rules around how insiders are allowed trade, forms they must fill out and so on, and these differ around the world.Insider trading becomes illegal when a person bases their trading decision on information that the ...
May 6, 2021 · 16 min
Wall Street Quants - A History
Send us a textI have been a trader for over twenty years, and from the start of my hedge fund career working with Victor Niederhoffer I have taken a quantitative approach to researching and executing trading strategies. A quant trader is a trader that builds statistical models to test trading strategies rather than relying on intuition and experience. Today we will look at the history of Quantitative Trading from 4000 years ago up until the present day. We will discuss the contributions...
Apr 29, 2021 · 6 min
What Are The Odds Of A Double Yolk Egg?
Send us a textTodays podcast is a fun look at probability and statistics. We learn about double yolk eggs, why do they happen, what is the probability of finding one, and if you get one double yolker egg in a carton what is the probability of finding more than one? In probability, two events are independent if the incidence of one event does not affect the probability of the other event. If the incidence of one event does affect the probability of the other event, then the events are de...
Apr 26, 2021 · 14 min
The Bitcoin Green Revolution - Is Cathie Wood Right About Bitcoin?
Send us a textWe look at the latest research from the good folks ARK Invest and payment company Square titled “Bitcoin is Key to an Abundant, Clean Energy Future”. Are Cathie Wood and Jack Dorsey right about the bitcoin green revolution?The white paper Square and ARK Invest ($ARKK) published this week aims to justify bitcoin’s energy use and explain how it could be the key to a future of clean energy. Square, a fintech founded by Twitter CEO Jack Dorsey, has invested $220 m in bitcoin, ...
Apr 16, 2021 · 10 min
New Companies Vs. Old
Send us a textA study by McKinsey found that the average life-span of S&P 500 companies has fallen from 61 years in 1958 to less than 18 years today. McKinsey predict that, by 2027, 75% of the companies currently included in the S&P 500 will have disappeared.So, What happens to these companies? Well, many will be bought- out, merged, and some will even go bankrupt like Lehman Brothers and Worldcom did. Some companies keep on going. General Electric, Exxon Mobile and Procter & Gamb...
Apr 6, 2021 · 7 min
Gamestop Selling New Shares $GME
Send us a textTwo months after Reddit day traders took GameStonk ( $GME ) shares to surprising heights in a massive short squeeze, the video game retailer is finally trying to cash in. On Monday, it announced plans to issue up to 3.5 million new shares worth $650m via an “at-the-market” offering, or ATM. The structure allows the issuer to raise cash bit by bit over the course of months or years. This is reasonable opportunism. Despite a pullback, GameStop shares are still up 900 per cent this...
Mar 31, 2021 · 13 min
The Archegos Capital Blow-up
Send us a textArchegos Capital: The little-known family office of Bill Hwang convinced almost every big bank to lend enormous sums to it. One of the so-called Tiger Cub veterans of Julian Robertson’s Tiger Management fund, Hwang was, after all, a man who had run into trouble before, having been banned from trading in Hong Kong and fined millions in the US to settle illegal trading charges in 2012. Hwang, used to run a hedge fund called Tiger Asia, but he returned outside money aft...
Mar 24, 2021 · 19 min
The Collapse of Greensill Capital
Send us a textThe Collapse of Greensill CapitalSoftBank-backed Greensill (a fintech company) lent billions of dollars to companies that included the highly indebted metals conglomerate GFG Alliance, silicon valley Construction Technology company Katerra and West Virginia mining company Bluestone Resources. These loans were packaged into bonds which were sold as a fund by Credit Suisse.Greensill was funded by its own German-based and regulated bank and via Zurich-based Credit Suisse Asset Mana...