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Odd Lots

Author: Bloomberg

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Bloomberg’s Joe Weisenthal and Tracy Alloway take you on a not-so random weekly walk through hot topics in markets, finance and economics.

230 Episodes
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According to the website The Hendon Mob, the top tournament poker player of all time is the American Bryn Kenney, who has won a staggering $55.5 million. In fact, he got there in just the last six months, having won $20.5 million at a single tournament! So how did a former Magic: The Gathering player vault to the top of this leaderboard? On this week's episode of Odd Lots, Kenney explains how it all came about.
Back in September, chaos erupted in short-term funding markets, as the cost for financial institutions to borrow reserves soared. Immediately a major debate broke out over whether this represented a systemic problem for the financial system or merely a technical problem with the "plumbing." Things have quieted down since September, but the debate hasn't stopped. And there's still no permanent fix. On this week's Odd Lots podcast, we spoke with Zoltan Pozsar of Credit Suisse, who has a reputation for understanding the mechanics of these funding markets better than anyone else in the world. He broke down what really happened, and why we could see more craziness as soon as next month.
Where did the notion come from that the obligation of a company's management is to maximize shareholder returns, even if it means pain for workers? On this week's Odd Lots podcast, we speak with Karen Ho, a professor of anthropology at the University of Minnesota, who can answer the above question. Unlike your typical anthropologist, she did her field work inside a Wall Street bank to discover how the specific culture of finance bled through to the real economy.
You probably haven't thought much about the Taiwanese life insurance industry. Why would you have? But they're among the most fascinating entities in the financial world. And for a long time they've been a source of incredible mystery. They've built up a gigantic position in foreign, US-dollar denominated assets in order to fund domestic liabilities denominated in Taiwanese Dollars. But how do they hedge this currency mismatch? Nobody has figured it out until now. On this week's podcast, we speak with Brad Setser of CFR and Exante Data about how he and a pseudonymous partner finally cracked the code.
Bloomberg's Travel Genius podcast is back! After clocking another hundred-thousand miles in the sky, hosts Nikki Ekstein and Mark Ellwood have a whole new series of flight hacking, restaurant sleuthing, and hotel booking tips to inspire your own getaways—along with a who's who roster of itinerant pros ready to spill their own travel secrets. From a special episode on Disney to a master class on packing, we'll go high, low, east, west, and everywhere in between. The new season starts Nov. 6.
Can the U.S. economy have a recession without it turning into a crisis? In the old days, such garden-variety recessions were fairly common. These days, less so. But why is this? And can we go back to the old-style soft recessions? The issue, arguably, is that private sector balance sheets (both debts and assets) have grown so large relative to incomes, that the value of financial assets swamp effects from changing incomes.On this week's Odd Lots, we speak with David Levy of the Jerome Levy Forecasting Center about his new report called Bubble Or Nothing about how the economy works in a world of gigantic balance sheets and extreme risk taking.
It's well known that Japan has (until recently) been mired in years of mediocre economic growth. And policymakers and economists use Japan as a warning for how developed economies can enter into prolonged slumps. But has anyone learned the lessons of Japan? In our latest episode, we talk to Richard Koo of the Nomura Research Institute, about his concept of the "Balance Sheet Recession" and why developed economies with lots of debt don't behave the way they do in textbooks. He explains how the lessons of Japan apply to Europe and the U.S. and what policymakers have failed to learn.
The Odd Lots Variety Show

The Odd Lots Variety Show

2019-10-0701:45:16

On September 19, 2019, Odd Lots hosted its first-ever live event at the WNYC Greene Space in downtown New York City. With an all-star lineup of guests, the show featured convicted white-collar criminal Sam Antar, a panel on sovereign debt with Lee Buchheit and Brad Setser, and a discussion on MMT with Stephanie Kelton. We even had a surprise guest, SPY kid Kevin McGrath, not to mention two musical acts: country-singing economist Merle Hazard and a performance by Joe himself. Be sure to check out videos from the event on Bloomberg's Markets and Finance channel on YouTube.
Stephanie Flanders, head of Bloomberg Economics, returns to bring you another season of on-the-ground insight into the forces driving global growth and jobs today. From the cosmetics maker in California grappling with Donald Trump's tariff war, to the coffee vendor in Argentina burdened by the nation's never-ending crises, Bloomberg's 130-plus economic reporters and economists around the world head into the field to tell these stories. Stephanomics will also look hard at the solutions, in the lead-up to Bloomberg’s second New Economy Forum in Beijing, where a select group of business leaders, politicians and thinkers will gather to chart a better course on trade, global governance, climate and more. Stephanomics will help lead the way for those debates not just with Bloomberg journalists but also discussion and analysis from world-renowned experts into the forces that are moving markets and reshaping the world. The new season of Stephanomics launches Oct. 3.
For years, China has experienced blistering growth. Driven by an investment-heavy economic model, this growth has limited household income while subsidizing business. This system worked extraordinarily well for years, but the system has recently been hitting its limits. On this week's Odd Lots, we speak with Michael Pettis, a longtime China expert who serves as a finance professor at Peking University as well as a Senior Associate at the Carnegie Endowment. He explains why China must rebalance its domestic economy, and how its domestic policies helped contribute to today's trade tensions with the U.S.
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Comments (11)

R Brandon Longley

What a horrible podcast! W.O.T.(waste of time) All 3 people on the podcast are ill informed on Trading on a whole. If they really do know something, they didn't show it.

Nov 13th
Reply (4)

larry g

While Mark makes some good points, of course the main question is when is the right time to be out? Now? Plus another 5%? Plus another 10%? Or perhaps once it's on the decline? That sai, should retail ever get out? If you're already above retirement age and don't want to risk any loss then a conservative approach is warranted. But if you're young and have time ahead why risk getting the timing wrong. Next question- Mark is looking for a 20% correction. Mind you 'correction'. Then what? V shaped recovery? Or trawling 20% lower levels for prolonged extended time frames? The answer to those expectations dictates strategy. History's lesson here has been clear. Last point- While Mark overweights the trade deal, personally I would underweight that impact calling it mostly theater. It's politics and will be timed to garner maximum political benefit. As alternative indicators to timing the turn, because it will come as it's a question of when not if, I'd suggest 1- liquidity (as mentioned by Mark), 2- Buybacks which have had a huge impact on price, and 3- Employment. Once employment starts to drop the whole cycle turns. Good luck and thanks for a great episode.

Jul 17th
Reply (1)

space_junk

Why would you want to interview those racist wankers?

Jun 19th
Reply

שי רוזנפלד 99.7 כול נצרת עלית ו הסביבה

שי רוזנפלד שדרן

Jun 13th
Reply

Kevin Boyle

Please stop the inane conversation at the beginning and end of the episodes. If one of you doesn't know who the guest is then you didn't do your homework. A brief intro to the topic and guest will suffice. Also spend more time and fig deeper. One hour is a good length.

Dec 24th
Reply (1)
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