Explore "risk management" with insightful episodes like "One year after “all hell broke loose” at Silicon Valley Bank", "How the Rise of 'Pod Shops' Is Reshaping the Way Markets Trade", "The LRT Episode", "42. How Much Money Do You Need To Retire? Our Plan To Start Withdrawing From Our Investment Portfolios" and "Are dividends back?" from podcasts like ""Marketplace Tech", "Odd Lots", "Bankless", "The Stocks and Savings Podcast" and "Unhedged"" and more!
This week marks the first anniversary of the collapse of Silicon Valley Bank, the largest bank failure in the United States since the 2008 financial crisis. Today, Marketplace’s Lily Jamali revisits the SVB collapse with Anat Admati, an economics professor at Stanford University and co-author of the book “The Banker’s New Clothes.”
The hedge fund industry has gone through multiple evolutions. Investing styles go in and out of fashion as market conditions change. Strategies that work become crowded with investors, which can mean they stop working as well. The hottest thing these days are so-called multi-strategy funds or "pod shops" that employ multiple distinct teams, each with a specific mandate, style and edge. In theory, with good risk management and internal capital allocation, this can produce robust results across many cycles. So how do these funds work, how are they making money, and what does the expansive growth of this new style of fund mean for markets? In this episode, we speak with Krishna Kumar, a portfolio manager at Goose Hollow Capital Management, about the rise of multi-strategy hedge funds, why they're so popular, and how the increasing amount of money deployed by these firms is changing the way that markets trade.
See omnystudio.com/listener for privacy information.
Welcome to the LRT episode, covering the entire playing field of liquid restaking projects and what makes each one unique and special.
On the show we have representatives from Ion, Ether.fi, Puffer, Kelp, Swell and Renzo making this your one stop to go from zero to expert on the restaking landscape.
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TIMESTAMPS
00:00:00 Intro
00:02:45 Ion Protocol
00:17:06 Before You Listen
00:26:45 Ether.fi
00:37:46 Puffer
00:54:02 Kelp
01:10:26 Swell
01:21:40 Renzo
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RESOURCES
Ion:
https://ionprotocol.io/
Chunda:
https://twitter.com/ChundaMcCain
Ether.fi:
https://twitter.com/ether_fi
Mike:
https://twitter.com/MikeSilagadze
Puffer:
https://twitter.com/puffer_finance
Kelp:
https://twitter.com/KelpDAO
Amit:
https://twitter.com/GAmitej
Swell:
https://twitter.com/swellnetworkio
Daniel:
https://twitter.com/daniel_swell_
Renzo:
https://twitter.com/RenzoProtocol
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
Take a look at some of the tools we used to help us figure out how much we need in retirement:
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Thank you for listening to this episode of The Stocks and Savings Podcast, we really hope that you found it interesting.
And if you're new here - welcome! We're Andreea & Jamie, the 2 Chartered Accountants & couple behind the Instagram financial blog @stocksandsavings.
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Mark Zuckerberg’s Meta just announced its first-ever dividend, which is something that rapidly growing tech companies rarely do. Dividends have been shunned in favour of corporate buybacks for decades. Is this a sign of change in the relationship between shareholders and corporations? Today on the show, we discuss the return of the dividend. Also we short internet tests, and go long frazzled-Englishwoman aesthetic.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer
Follow Ethan Wu (@ethanywu) and Katie Martin (@katie_martin_fx) on X. You can email Ethan at ethan.wu@ft.com.
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
Each year the FT hosts a stockpicking contest. Today on the show, we go over our picks for 2023, which were brilliantly bad. We guessed wrong on housing, on streaming, and even on crypto. Of course, if listeners had bet against us, they would have done quite well. So naturally we’ve got five more stocks for 2024! Also, we go long Disney and short social media.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer
Follow Ethan Wu (@ethanywu) and Katie Martin (@katie_martin_fx) on X. You can email Ethan at ethan.wu@ft.com.
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
New York Community Bancorp shares fell 38% on Wednesday, partly on worries about the bank’s exposure to commercial real estate. Today on the show, Ethan Wu is joined by Robert Armstrong and FT property correspondent Joshua Oliver, who explain what’s going on with NYCB, and what the bank’s troubles tell us about the commercial real estate market, regional banks and the broader economy. Also, we are both long and short workers returning to the office.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer
Follow Ethan Wu (@ethanywu) and Katie Martin (@katie_martin_fx) on X. You can email Ethan at ethan.wu@ft.com.
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
The news --- and the finmeme space --- has been abuzz with headlines talking about hedge fund returns (or lack thereof) in 2023. In a year when the S&P500 was up nearly 25%, the NASDAQ up nearly 50%, and risk free fixed income investments yielded 5%, most hedge fund returns look disappointing by comparison AT A GLANCE. But is there more to the story? Comedian and brilliant financial mind Anish Mitra joins us for this friendly debate.
In this episode, we explain why institutional investors invest in hedge funds, why they are to willing to pay steep management fees for returns that are uncorrelated to the market as a whole, and how to think about hedge fund (or any kind of returns) in the appropriate context. We also introduce the concept of Sharpe Ratios, a risk measure we will do a deep dive on in the future.
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After a roaring December, the markets cooled a bit in the first days of 2024. Today on the show, hosts Ethan Wu and Robert Armstrong think big thoughts about long yields in treasuries, the historical correlation of equities and debt, and the Big Tech stocks as an asset class. Also, we go long Alibaba and short commercial real estate.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer
Follow Ethan Wu (@ethanywu) and Katie Martin (@katie_martin_fx) on X. You can email Ethan at ethan.wu@ft.com.
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
(0:00) Bestie intros: Jason comes in hot, All-In's new Chairman Dictator, Holiday party recap, and more
(7:54) Understanding the trade disruption in the Red Sea: Houthis, global impact on trade, the dicey geopolitical situation, and how this compares to COVID freight prices with Flexport's Ryan Petersen
(35:55) Major M&A deals called off, downstream impacts of a hawkish regulatory environment
(54:15) The new era of startup building: less capital raised, less overhead costs, more profitable, smaller exits with higher founder/employee ownership percentages
(1:17:01) Bombshell class action lawsuits against the NAR and other real estate brokerages, how this could change residential real estate in the US
(1:31:58) Colorado bans Trump from primary ballots
Follow the besties:
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Follow the pod:
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https://linktr.ee/allinpodcast
Intro Music Credit:
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Intro Video Credit:
https://twitter.com/TheZachEffect
Referenced in the show:
https://www.figma.com/blog/figma-adobe-abandon-proposed-merger
https://www.reuters.com/markets/deals/illumina-divest-cancer-test-maker-grail-2023-12-17
https://www.google.com/finance/quote/ADBE:NASDAQ
https://www.wsj.com/personal-finance/real-estate-buying-home-charts-6dc40caa
https://www.redfin.com/guides/how-to-sell-your-home-without-an-agent-fsbo
https://www.nytimes.com/2022/04/02/us/politics/merrick-garland-biden-trump.html
https://cafe.com/cafe-insider-feed
https://www.lawfaremedia.org/podcasts-multimedia/podcast/the-lawfare-podcast
My wife recently bought me an old book. It's called The Mathematical Theory of Investment. It was written in 1913 and it's as dry and boring as it sounds (but the old weathered cover looks awesome on a bookshelf).
I flipped through it and thought, "Does any of this matter?" These formulas, these charts, this data?
Well, yes.
But not nearly as much as the soft, behavioral side of investing.
This episode shares 10 of what I think are the most critical financial skills -- none of which you'll find in a 100-year-old academic text.
Today on the show, FT correspondent Josh Oliver joins us in the New York studio just minutes after leaving the courtroom. Oliver has been covering the trial of Sam Bankman-Fried, the founder of the collapsed cryptocurrency exchange FTX, since it started on October 2. We talk about the procession of former friends testifying against him, the trading firm Alameda, the seven balance sheets and the possibility of SBF taking the stand.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer
Follow Ethan Wu (@ethanywu) and Katie Martin (@katie_martin_fx) on X, formerly Twitter. You can email Ethan at ethan.wu@ft.com.
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
Robyn Grew is the new CEO of the Man Group, which manages more than $150 billion over multiple hedge funds. On September 3, she joined Katie Martin, the FT’s Markets Editor, at the FT Weekend Festival at Kenwood House in north London. Perched on high stools behind a kitchen counter meant for a cooking demonstration, Grew and Martin discussed how the end of the low-inflation era has forced a rethink for everyone from retail investors to managers of sophisticated hedge funds.
For a free 90-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer
Follow Ethan Wu (@ethanywu) and Katie Martin (@katie_martin_fx) on X, formerly Twitter. You can email Ethan at ethan.wu@ft.com.
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
Brought to you by AG1 all-in-one nutritional supplement, Helix Sleep premium mattresses, and LinkedIn Jobs recruitment platform with 900M+ users.
Nassim Nicholas Taleb (@nntaleb) spent 21 years as a risk-taker (quantitative trader) before becoming a researcher in philosophical, mathematical, and (mostly) practical problems with probability.
Taleb is the author of a multivolume essay, the Incerto (The Black Swan, Fooled by Randomness, Antifragile, The Bed of Procrustes, and Skin in the Game), covering broad facets of uncertainty. His work has been published into 49 languages.
In addition to his trader life, Taleb has also written, as a backup of the Incerto, more than 70 technical and scholarly papers in mathematical statistics, genetics, quantitative finance, statistical physics, medicine, philosophy, ethics, economics, and international affairs around the notion of risk and probability (grouped in the Technical Incerto).
Taleb is currently Distinguished Professor of Risk Engineering at NYU's Tandon School of Engineering (retired). His current focus is on the properties of systems that can handle disorder ("antifragile").
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Scott Patterson (@pattersonscott) is an investigative reporter for The Wall Street Journal, currently based in Washington DC, working on climate and energy policy. His new book is Chaos Kings: How Wall Street Traders Make Billions in the New Age of Crisis, a profile of the rise of “black-swan traders,” such as Nassim Taleb and Mark Spitznagel, as well as a survey of the many perils the world faces today—and how we might fix them.
Scott has covered everything from Berkshire Hathaway to stock exchanges to high-speed traders to the financial regulators. His first book, The Quants, describes the rise of mathematical finance and delves into its role in the 2008 financial blowup. Dark Pools, his second book, tells how computer traders took control of the U.S. stock market, starting from the birth of computer trading in the 1980s to the explosion of high-frequency trading in the late 2000s.
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This episode is brought to you by LinkedIn Jobs. Whether you are looking to hire now for a critical role or thinking about needs that you may have in the future, LinkedIn Jobs can help. LinkedIn screens candidates for the hard and soft skills you’re looking for and puts your job in front of candidates looking for job opportunities that match what you have to offer.
Using LinkedIn’s active community of more than 900 million professionals worldwide, LinkedIn Jobs can help you find and hire the right person faster. When your business is ready to make that next hire, find the right person with LinkedIn Jobs. And now, you can post a job for free. Just visit LinkedIn.com/Tim.
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This episode is also brought to you by AG1! I get asked all the time, “If you could use only one supplement, what would it be?” My answer is usually AG1, my all-in-one nutritional insurance. I recommended it in The 4-Hour Body in 2010 and did not get paid to do so. I do my best with nutrient-dense meals, of course, but AG1 further covers my bases with vitamins, minerals, and whole-food-sourced micronutrients that support gut health and the immune system.
Right now, you’ll get a 1-year supply of Vitamin D free with your first subscription purchase—a vital nutrient for a strong immune system and strong bones. Visit DrinkAG1.com/Tim to claim this special offer today and receive your 1-year supply of Vitamin D (and 5 free AG1 travel packs) with your first subscription purchase! That’s up to a one-year supply of Vitamin D as added value when you try their delicious and comprehensive daily, foundational nutrition supplement that supports whole-body health.
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This episode is also brought to you by Helix Sleep! Helix was selected as the best overall mattress of 2022 by GQ magazine, Wired, and Apartment Therapy. With Helix, there’s a specific mattress to meet each and every body’s unique comfort needs. Just take their quiz—only two minutes to complete—that matches your body type and sleep preferences to the perfect mattress for you. They have a 10-year warranty, and you get to try it out for a hundred nights, risk-free. They’ll even pick it up from you if you don’t love it. And now, Helix is offering 25% off all mattress orders plus two free pillows at HelixSleep.com/Tim. The 25% off offer is valid until September 10th.
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[09:44] How Scott and Nassim first connected.
[12:02] Why Nassim would rather be remembered as a scholar than a trader.
[14:01] You can’t forge a new friendship without breaking a few eggs.
[16:22] Silent risk, tail events, and one-trick ponies.
[25:56] What prompted Scott to write Chaos Kings?
[33:41] Pseudo-efficiency, pseudo-optimization, and pseudo-sorries.
[36:49] The joy of writing a preemptive resignation letter.
[37:39] Developing resilience against criticism.
[40:33] Recurring patterns in successful investors.
[44:15] Nassim: contrarian, or simply independent?
[46:44] Jiving with skeptical turkeys.
[51:53] Living in the polycrisis.
[53:54] The precautionary principle.
[1:00:07] Fat tails, thin tails, and the COVID vaccine.
[1:11:03] GMO risks and Monsanto intimidation tactics.
[1:14:45] Implementing the precautionary principle at a large scale.
[1:16:49] Uncertainty and the climate crisis.
[1:19:45] Convexity in the face of financial crisis.
[1:27:12] Are investors overpowered in an interconnected world?
[1:31:36] Utilizing the precaution principle in the real world (for better and worse).
[1:36:53] The flow-on effect of having skin in the game.
[1:39:37] The ponzification of startups and an overdue reckoning.
[1:42:51] What convexity at the center of all things conveys.
[1:49:27] Where to find Scott and Nassim.
[1:50:44] What Nassim is working on now.
[1:53:37] New insights from ancient words.
[1:57:26] Parting thoughts.
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For show notes and past guests on The Tim Ferriss Show, please visit tim.blog/podcast.
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The press has been savaging Goldman Sachs CEO David Solomon. And only the Unhedged Podcast is brave enough to defend him. A little bit. Well, we’re not saying he’s the greatest ever, but there are a lot of interesting reasons it is getting harder to be a secretive financial group and consistently make billions. Also, we go even longer on Japan and short our ability to make predictions about Nvidia.
For a free 90-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer
Follow Ethan Wu (@ethanywu) and Katie Martin (@katie_martin_fx) on Twitter. You can email Ethan at ethan.wu@ft.com.
Read a transcript of this episode on FT.com
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