Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Join the conversation every Monday and Thursday for interviews with the most interesting minds in finance, economics and markets.
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Podcast de Juan Ramón Rallo sobre economía, filosofía, política y liberalismo.
Hazte miembro en: https://plus.acast.com/s/juanrallo.
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Hear about how folks are running their web apps in production. We'll cover tech choices, why they chose them, lessons learned and more.
The World's Most Controversial Interest Rate Is Haunting Us Again
Remember LIBOR? The London Interbank Offered Rate measures the cost of money when banks borrow from each other. It famously blew out during the financial crisis, but for a long time since then it's been dormant. Only lately it's started to creep higher again. On this week's Odd Lots podcast, we talk to Scott Peng, the founder, CEO and CIO of Advocate Capital Management, who warned in early 2008 that there was something fishy about the way the measure was being priced. In the post-crisis period, it was discovered that the rate -- which helps price trillions of dollars worth of other assets -- was being gamed or manipulated by traders. Peng walks us through the history of the rate, what it's telling us now, and what may ultimately replace it. See omnystudio.com/listener for privacy information.
What It Was Like In The Glory Days Of Trading Currencies In The Pits
These days, when you think of trading, you think of people sitting at a desk with a bunch of monitors, watching charts, and maybe making decisions based on algorithmic signals. Of course if you imagine a trader a few decades ago, you think of someone in a big open pit shouting loudly and writing things down on actual physical pieces of paper. So what was that scene really like? On this week's Odd Lots podcast, we speak with Cameron Crise, a Bloomberg macro strategist, who used to trade currency options in the pits in Chicago during the early 1990s. We talk about how he got there, some of the funniest moments he experienced, and how the trading world has evolved since then. See omnystudio.com/listener for privacy information.
For The First Time In Years, Why People Are Suddenly Talking About Inflation Again
For years, nobody seemed particularly concerned about inflation. Outside of a few blips, in the wake of the financial crisis, people have become accustomed to low inflation, and central banks providing ample stimulus to the economy. But suddenly that's changing. There seem to be hints that the macro backdrop is shifting, and that has investors on edge. So why the shift and what's going on? On this week's Odd Lots, we speak with Michael Ashton of Enduring Investments, a specialist in analyzing the inflation data, and helping clients trade on it. He offers his theory of what drives inflation, and where it's going to go next. See omnystudio.com/listener for privacy information.
Why The Human Brain Loves To Be Lied To
In theory, people should want to know accurate facts about the state of the world. In practice, it's not so simple. Because of the way we evolved, and how our brains work, there are often things that we prioritize above the truth (such as fitting in with some tribal identity). On this week's Odd Lots podcast, we speak with NYU professor Jay Van Bavel, about a new paper he co-authored titled "The Partisan Brain: An Identity-Based Model of Political Belief." It explains how political ideology leads people to have distorted views of the world, and though this paper is specifically about politics, it contains important lessons for people in the market, as they seek to overcome the biases that make them bad traders and investors. See omnystudio.com/listener for privacy information.
Coming Soon: Decrypted Season 2
Decrypted returns on March 6th with a brand new season. Here's a sneak peek of what's in store. We'll be releasing new episodes every Tuesday starting next week. See omnystudio.com/listener for privacy information.
The NYC Fiscal Crisis Of The 1970s Has Some Important Lessons For Today
In the 1970s, NYC teetered on the verge of bankruptcy. This crisis lead to the dismantling of the city's generous social safety net. On this week's Odd Lots podcast, we speak to Kim Phillips-Fein, historian and author of "Fear City: New York's Fiscal Crisis and the Rise of Austerity Politics." She walks us through what happened then, and what lessons it holds for fiscal politics today. See omnystudio.com/listener for privacy information.
How One Of The Most Profitable Trades Of The Last Few Years Blew Up In A Single Day
In recent years, one of the easiest ways to make money in this market has been to bet on low volatility. Up until recently, markets have been exceptionally tranquil, and trades predicated on that tranquility continuing have made a fortune. But two of the most popular vehicles for making that trade, XIV and SVXY got obliterated in one day in early February. On this week's episode of the Odd Lots podcast, we speak to Pravit Chintawongvanich, the head of Derivatives Strategy at Macro Risk Advisors about the episode. He explains what the short volatility trade was, how specifically these funds operated, and how they ultimately became victims of their own success. See omnystudio.com/listener for privacy information.
Coming Soon: What'd You Miss This Week
This month, Bloomberg is excited to bring you a brand new show. Every Friday on What'd You Miss This Week, we'll feature the most interesting interviews from Bloomberg's daily market close show, "What'd You Miss" hosted by Scarlet Fu, Julia Chatterley and Joe Weisenthal. We want to take you beyond the headlines and bring you a unique perspective on the week's top stories, and those you may just have missed. It's the perfect way to kick off your weekend. Be sure to subscribe now, so you don't miss a thing! See omnystudio.com/listener for privacy information.
Annie Duke Explains How To Apply Poker Skills To Markets And Other Business Decisions
Anyone who watched poker on TV during the golden age of coverage a few years ago is familiar with Annie Duke. She's one of the most famous poker players of the era, and is one of the winningest women poker players of all time, with 38 money finishes at the World Series of Poker. She's been retired from poker for a few years now, but she has a new book called "Thinking In Bets: Making Smarter Decisions When You Don't Have All The Facts." On this week's episode of the Odd Lots podcast, Annie talks about the skills that made her good in poker, and how they can be applied to many areas of our lives, including trading and business. See omnystudio.com/listener for privacy information.
Why One Of The Most Successful Quant Funds Decided To Create Its Own Video Game
Quantitative finance is red hot. These days, basically everyone (banks, hedge funds etc.) is hiring mathematicians and coders. So what differentiates one quant shop from any other? On this week's episode of the Odd Lots podcast, we speak to Alfred Spector, the CTO of Two Sigma Investments, which is one of the most successful quant firms in the world. Spector is a computer scientist who previously did long stints at both Google and IBM. He tells us about why Two Sigma spent resources to create its own video game, and what the firm does to ensure that technologists and mathematicians are eager to work there. See omnystudio.com/listener for privacy information.
How The Opioid Crisis And The Trump Administration Are Changing Middle America's Economy
If you cover the economy from New York City or Abu Dhabi, it's easy to get caught up in a media bubble. But the U.S. economy is obviously not a monolith. On this week's episode of the Odd Lots podcast, we speak to Jeff Korzenik, the Chief Investment Strategist at Fifth Third Private bank, a major bank in the Midwestern states. During our discussion, we talk about the ramifications from the opioid crisis as well as the Trump administration on the economy and the markets. See omnystudio.com/listener for privacy information.
How Radical Demographic Shifts Around The World Are Changing How Assets Are Valued
When we think about financial assets, we usually think of their price as being derived from some set of intrinsic characteristics. A stock price may be a function of growth, margins, interest rates, and a few other things. For government bonds, we might say that inflation and growth are the big components. It's easy to forget that financial assets are goods sold on a market consisting of humans with their own demand and consumption needs. On this week's Odd Lots, we speak to Amlan Roy, Global Chief Retirement Strategist at State Street Global Advisors, about how radical changes to demographics all over the world has changed the supply and demand framework for financial assets, and thus the price of government bonds. See omnystudio.com/listener for privacy information.
This Explains Why Modern Markets Developed Where They Did
For centuries, markets were highly-personalized things, often controlled by select groups of people who traded based on long-established and closely-knit relationships. Closed networks -- such as merchant guilds in 16th century Europe -- could ensure trust between buyers and sellers by pushing out bad actors. But then, something happened that would eventually become the foundation of all modern markets. In the 1500s, new trade routes and the arrival of the printing press helped erode the power of merchant guilds and give way to a much more open system of trading where strangers could interact with each other. On this edition of the Odd Lots podcast, Prateek Raj gives his theory about why modern markets first took hold in Northern Europe, and what this 500-year-old period of disruption can tell us about the world today. See omnystudio.com/listener for privacy information.
This Is What It Was Actually Like To Live Through The Tech Bubble
We talk a lot about bubbles on this podcast. Often we talk about them from the perspective of a trader or speculator. But what about the people whose lives get caught up directly in the craziness? On this week's episode of the Odd Lots podcast, we speak to Bloomberg's own Dash Bennett, who worked for an internet company right during the peak of the mania in early 2000. Dash describes the incredible signs of excesses that he saw at the beginning and the bleak way it all ended when everyone lost their jobs and had all their perks taken away. See omnystudio.com/listener for privacy information.
These Will Be The Big Markets And Economics Stories In 2018
On last week's episode of Odd Lots, Bloomberg's Chris Nagi and Matt Boesler gave us their takes for the biggest stories of the past year. So naturally, for this week's episode, we look ahead. Chris and Matt are back in the studio to give us their predictions for what we'll be talking about in 2018. See omnystudio.com/listener for privacy information.