Odd Lots

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

https://bloomberg.com/podcasts/odd_lots

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      How to Listen to What the Market Is Trying to Tell You


      For years, it was pretty quiet in markets. Stocks kept making new highs and volatility drifted to fresh lows. That's changed in recent months and there's now plenty to keep investors busy, including fears of a trade war and signs that the economy be nearing the end of its cycle. On this week's episode of the podcast, we speak with Peter Borish, a veteran investor and trader (and former Odd Lots guest), who is currently chief strategist at the Quad Group. He talks about how he approaches...


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         38m
       
       

      This Is What's Actually Happening When The Government Auctions Bonds


      Thanks to the tax cuts, the U.S. deficit is expected to surge again. And of course that's brought greater attention to the government's semi-regular Treasury auctions. But the government borrowing money isn't like a household borrowing money, and analogies between the two can be misleading. On this week's Odd Lots podcast, we speak to Brian Romanchuk, the author of BondEconomics.com and a long time financial industry veteran, about what's actually happening when the government taps the debt...


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         29m
       
       

      The Internet Is Secretly Powered By Billions Of Tiny Auctions


      Everyone knows that online advertising pays for a massive chunk of the internet that people know and love, whether it's social networking sites, news, photo sharing apps, or anything else. But how do the ads get delivered to your desktop or phone? On this week's Odd Lots podcast, we speak to Afsheen Bigdeli, an engineer who works on online ad platforms about how every time you see an ad it's the result of a virtually instantaneous online auction in which the seller of ad inventory (a...


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         33m
       
       

      The Creator of VaR Explains How Large Banks Measure The Risk Of Their Own Portfolios


      Earlier this year, markets were spooked by blow-ups in a number of volatility-linked products. But dealing with volatility is the foundation of risk management on Wall Street and there's a particular model that's become pervasive among big investors and banks -- so-called Value-at-Risk (VaR) models seek to gauge how much a portfolio might gain or lose based on historic price movements. On this week's episode of the Odd Lots podcast, we speak to one of the original creators of VaR. Till...


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         35m
       
       

      Meet The Chicago Floor Trader Who Helped Inspire The Tea Party Movement


      A pivotal moment in U.S. political history is when CNBC's Rick Santelli went on a gigantic rant against Obama's stimulus programs while on the floor of the Chicago Board of Trade. The rant is credited by some as having helped galvanize the Tea Party movement, which rapidly became highly influential within the Republican party. Standing next to Santelli was a floor trader, Eric Wilkinson, who joined along in the rant, and become a player in his own right in the story. On this week's episode,...


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       2018-06-18  36m
       
       

      The Inventor Of 'Bond Vigilantes' Explains Why They Just Showed Up In Italy


      Longtime market analyst Ed Yardeni came up with the term "Bond Vigilantes" to describe the way bond market participants can punish governments who run economically irresponsible policies. When Yardeni used it in the 80s, it referred to US fiscal policy that was thought to be inflationary. Now the bond vigilantes are back, but this time they're in Italy. On this week's podcast, Yardeni explains the history of the term, what's going on now, and how interest rates can be used to model stock...


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       2018-06-11  32m
       
       

      This Is How The Chocolate Market Actually Works


      When you're eating a chocolate bar, there's a good chance you're not thinking about the complex commodity market that allows cocoa beans to make it into a tasty snack. But obviously cocoa trading is a huge business. On this week's Odd Lots podcast, we speak to professor Kristy Leissle, the author of the book “Cocoa,” about how this commodity market really works. She explains to us where it's grown, how pricing's determined, and the role of the major confectionery buyers in this mar...


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       2018-06-04  36m
       
       

      What the Finance Industry's All-Night Scavenger Hunt Is Actually Like


      For years, big banks, hedge funds and other investment firms took part in an epic scavenger hunt in New York. Inspired by the 1980 movie, “Midnight Madness,” teams of quants and traders would stay out all night competing to figure out some of the world's hardest puzzles. This year, the event was held for the first time in London, where Odd Lots joined a team from Goldman Sachs to compete for the prestigious title. In this episode, find out what it's like to actually compete in the fiendishly ...


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       2018-05-28  35m
       
       

      This Is China's Plan To Be A Technology Powerhouse By The Year 2025


      The recent trade tensions between the Trump administration and China has shone a light on the country's ambitions to become a technology powerhouse, as one of the complaints is that China unfairly extracts intellectual property from multinationals entering that market. But what, specifically, is China's long-term plan? On this week's Odd Lots podcast, we speak to Dan Wang, a technology analyst at Gavekal Dragonomics about the the Made In China 2025 initiative, which seeks to turn the country...


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       2018-05-21  30m
       
       

      Inside the Multi-Year Quest to Create a Bitcoin ETF


      When Bitcoin first began generating headlines, there were some who thought the cryptocurrency was a fraud and others who thought it was the next big thing. Greg King, CEO of Rex Shares LLC, was one of the latter. Like the Winklevoss twins, he set out to create an exchange-traded fund (ETF) that would allow people to invest in Bitcoin in a new way. But many years later, the U.S. securities watchdog hasn't approved such plans. On this edition of the Odd Lots podcast, we use the Bitcoin example...


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       2018-05-14  31m