Founded in 1987 by Toby Crabel, a former professional tennis player turned commodities trader, Crabel Capital Management has today evolved into a diversified quant manager with over $5 billion in assets. In this episode, Peter Sughrue from J.P. Morgan’s Prime Financial Services Sales team sits down with Michael Pomada, president and CEO of Crabel. They discuss the importance of adapting strategies to thrive in today’s complex market, with a focus on systematic trading, risk management and the gr...
Jun 27, 2025•22 min•Ep. 311
In this episode, Kumar Panja, EMEA head of the Capital Advisory Group at J.P. Morgan, chats with Kari Vatanen, head of Asset Allocation and Alternatives at Elo, one of the largest pension funds in Finland. They discuss the uncertain market environment, plus the importance of hedge funds and illiquid assets in diversifying portfolios. Vatanen also shares Elo’s current asset allocation strategy and ways managers can engage with institutional investors. This episode was recorded on May 30, 2025. Th...
Jun 24, 2025•24 min•Ep. 310
In this episode, Patrick Hargreaves, CEO of AKO Capital and PM of the AKO Capital Global Fund, is in discussion with Eloise Goulder, head of the Data Assets and Alpha Group. Patrick discusses the rationale for the quality investment philosophy at AKO Capital and the 'patterns of quality' the team look to identify to source these companies (as articulated in their 2016 Quality Investing book). He also lays out the five specialized teams who work alongside the analysts on market research, forensic...
Jun 20, 2025•25 min•Ep. 309
In this episode, Eloise Goulder, head of the Data Assets and Alpha Group at J.P. Morgan, is joined by Chris Andrew, head of Market Structure and Regulatory Change in EMEA. Together, they explore the recent pick-up in European equity volumes and turnover ratios, discussing factors including geopolitical shifts, fiscal policy changes and the evolving landscape of European capital markets. Finally, Eloise and Chris delve into the potential for sustained outperformance, and the implications and chal...
Jun 17, 2025•18 min•Ep. 308
What is investment-grade private credit, and how does it differ from public credit markets? What are the opportunities and risks for borrowers? And how might the landscape evolve in the coming years? Join head of Debt Solutions Christian O’Donnell and Emily Dzieciatko from the Investment Grade Finance team as they explore this growing subset of the private credit market. This episode was recorded on June 4, 2025. This material was prepared by certain personnel of JPMorgan Chase & Co. and its...
Jun 13, 2025•19 min•Ep. 307
As the private credit market continues to grow, investors are diversifying strategies across various asset classes. However, recent economic uncertainty could reshape the sector’s ongoing evolution. In this episode, Leland Price from the FICC Market Structure and Liquidity Strategy team joins Jake Pollack, head of North America Credit Trading & Global Credit Financing, for a discussion on emerging challenges and opportunities in this space. From direct lending and collateralized loan obligat...
Jun 10, 2025•24 min•Ep. 306
The U.S. continued to add jobs at a steady pace in May, and the unemployment rate remained at 4.2% for the third straight month. Looking ahead however, factors including tariffs and immigration policy could lead to a slowdown in the labor market. What does all this mean for the health of the consumer as well as the wider economy? Join chief U.S. economist Michael Feroli and Lauren Brice from the U.S. Rates Sales team as they unpack the latest numbers. This episode was recorded on June 6, 2025. T...
Jun 06, 2025•10 min•Ep. 305
How has the IPO market fared in the first half of 2025? Join Keith Canton, head of Americas Equity Capital Markets, Gaurav Maria, head of U.S. Equity-Linked Capital Markets and Laurel Zhang from the Equity-Linked Capital Markets desk as they explore the dynamics shaping the IPO landscape. The trio discusses the impact of tariffs, geopolitical tensions and market volatility on transaction volumes, as well as potential opportunities in the second half of the year. This episode was recorded on May ...
Jun 03, 2025•22 min•Ep. 304
Why is there so much focus on the U.S. Treasury cash-futures basis trade? Kate Finlayson, global head of FICC Market Structure and Liquidity Strategy, breaks it down with Brian Fitzsimmons, head of North America Rates Securities Trading, and John Schwartz, global head of Sovereign Financing Trading. They discuss the intricacies of the basis trade, regulatory concerns amid recent market volatility and various measures to account for leverage in the system. This episode was recorded on May 27, 202...
May 30, 2025•23 min•Ep. 303
Join Amaury Guzman from the Leveraged Finance team as he chats with Patrick Griffin, head of Pro-Rata Debt Capital Markets, about the bank loan market. How does it differ from other institutional credit markets, and what has been the impact of recent macro events? Plus, how can CFOs and treasurers looking to raise capital through this channel maximize the likelihood of success? This episode was recorded on May 19, 2025. This material was prepared by certain personnel of JPMorgan Chase & Co. ...
May 27, 2025•17 min•Ep. 302
Analyzing alternative data can be complex and challenging – but it can also be highly rewarding. In this episode, Mark Fleming-Williams, head of Data Sourcing at CFM and creator of “The Alternative Data Podcast,” speaks with Eloise Goulder, head of the Data Assets & Alpha Group at J.P. Morgan. They discuss the value of alt data, how the viability of a data set is assessed and what AI and LLMs mean for the future of the industry. Shownotes: https://www.cfm.com/ https://podcasts.apple.com/us/p...
May 23, 2025•24 min•Ep. 301
John Burns, head of J.P. Morgan's Mid-Cap Financial Sponsors Group, hosts guests Adam Schwarzschild, co-head of North America Financial Sponsors Group, and Ray Raimondi, head of North America Strategic Investor Group M&A, to discuss the evolving role of financial sponsors in the current economic environment. Discover how recent market changes and tariffs are shaping investment strategies. As the mid-cap and large-cap sponsors ecosystem evolves, how might opportunities in sectors like busines...
May 20, 2025•23 min•Ep. 300
Humanoid robots, AI-powered machines resembling humans, are poised to transform automation by addressing labor shortages and revolutionize sectors such as manufacturing and healthcare. How soon can we expect to see these advancements and what is the investment outlook? Join Kelly Wen, head of Hong Kong and China Equity sales and Karen Li, head of Hong Kong Equity Research and Asia Infrastructure, Industrials and Transport Research to explore the key developments and growth prospects for the huma...
May 16, 2025•11 min•Ep. 299
“Trade is like water — it will flow through whatever is the path of least resistance.” Tariffs are reshaping international trade by disrupting supply chains and impacting business sentiment. How can companies manage the associated risks, both now and in the longer term? In this episode, senior global economist Nora Szentivanyi and Natasha Condon, global head of Trade Sales, share their insights in a conversation moderated by Grace Howie from the Payments, Trade and Working Capital team. This epi...
May 13, 2025•26 min•Ep. 298
In this episode, Gurps Kharaud, head of Equities Digital Markets and Vida Portfolio Solutions, chats with Olivier Cajfinger, head of Investment-Grade Credit, Public Finance, Short-Term Credit, and Alternative Sales, and Peter Grant, co-head of Credit Systematic Trading. They delve into the evolution of credit portfolio trading, examining the impact of recent market volatility on trading volumes, the strategic role of portfolio trading as a liquidity tool, and how J.P. Morgan is differentiating i...
May 09, 2025•9 min•Ep. 297
In this episode, Andrew Tyler, head of Global Market Intelligence, and Federico Manicardi, head of International Market Intelligence, speak with Eloise Goulder, head of the wider Data Assets & Alpha Group. They discuss the case for a further rally in U.S. equities, which could be driven by catalysts, including corporate earnings and tariff negotiations, as well as relatively light positioning. They explain why this view may only be tactical, given risks to medium-term economic growth. And fi...
May 06, 2025•12 min•Ep. 296
Join Mike Feroli, J.P. Morgan's chief U.S. economist, and Alexa Hanelin from the North America Rate Sales team as they discuss the better-than-expected numbers from the April employment report. They break down the implications of trade and tariff policies, the resilience of the U.S. economy and expectations for the Federal Reserve. This episode was recorded on May 2, 2025. This communication is provided for information purposes only. Please visit www.jpmm.com/research/disclosures for important d...
May 02, 2025•10 min•Ep. 295
Explore the securities taxation landscape in Europe from a custodian’s perspective and understand the rapidly transforming tax regulatory environment, requiring a heightened focus on data, technology and risk management. With increased demand for tax services in new jurisdictions given heavier compliance obligations, now is the time to focus efforts and adapt. How can global custodians strengthen their partnerships with both tax authorities and clients to continue delivering an optimal service? ...
Apr 30, 2025•13 min•Ep. 294
In this episode, Edwina Lowe, product specialist in the Data Assets and Alpha Group, speaks with Eloise Goulder, head of the group. Edwina and Eloise discuss the merits of data vs. model in the systematic investing process and the extent to which both are critically important. This episode marks the 100th episode of the Trading Insights series on our Making Sense podcast channel. This episode was recorded on April 3, 2025. Shownotes: To learn more about the Data Assets & Alpha Group: https:/...
Apr 25, 2025•15 min•Ep. 293
In this episode, host Evan Junek, global head of Corporate Finance Advisory, with Jay Hofmann, head of North America M&A, and Brian Tramontozzi, head of North America Leveraged Finance Capital Markets, explore the current state of M&A and capital markets amid market volatility. They discuss trends, challenges, and opportunities in debt capital markets and private credit, as well as M&A activities, providing valuable insights in today’s uncertain environment. This episode was recorded...
Apr 22, 2025•21 min•Ep. 292
As President Trump approaches the 100-day mark of his second term, what has gone as expected and what has left experts surprised? Join Samantha Azzarello, head of content strategy for J.P. Morgan Research as she discusses President Trump’s first 100 days and beyond with: · Bruce Kasman, chief Global Economist · Kamal Tamboli, U.S. equity strategist · Natasha Kaneva, head of Global Commodity Strategy With heightened trade policy uncertainty stemming from a flurry of tariff activity, what will J.P...
Apr 18, 2025•17 min•Ep. 291
Take a deep dive into the complexities of the U.S. housing market with Anthony Paolone, co-head of U.S. Real Estate Stock Research and John Sim, head of Securitized Products Research. They examine supply-demand dynamics, President Trump’s tariffs, interest rates and other key factors affecting home prices and affordability. Taking stock of the macroeconomic environment, where could rates go next and how would this impact home prices? This episode was recorded on April 8, 2025. This communication...
Apr 15, 2025•17 min•Ep. 290
In this episode, Daniel Rudnicki Schlumberger, head of Leveraged Finance for EMEA, talks with Ben Thompson, head of EMEA Leveraged Finance Capital Markets, and Natalie Day Netter, head of EMEA Leveraged Finance Syndicate. They discuss the latest developments in the EMEA leveraged debt landscape, including historic market moves, changing investor behavior, and expectations for the rest of the year. This episode was recorded on April 7, 2025. This material was prepared by certain personnel of JPMo...
Apr 11, 2025•22 min•Ep. 289
In this episode, Eloise Goulder, head of J.P. Morgan’s Data Assets and Alpha Group and James Benford, chief data officer at the Bank of England, discuss the potential for data and AI to transform decision-making both at the Bank of England and across the finance industry more widely. They also discuss the impact of generative AI on market efficiency and financial stability, the balance between the use of AI and human judgement as well as the ethical considerations shaping the future of financial...
Apr 08, 2025•28 min•Ep. 288
In this episode, Lauren Brice from the U.S. Rates Sales team and Mike Feroli, J.P. Morgan's chief U.S. economist, unpack the key takeaways from the March U.S. jobs report and explore the economic path ahead. Lauren and Mike discuss the favorable numbers, the impact of immigration policies on labor market growth and the divergence between hard data and sentiment data. They also tackle the hot topic of tariffs, their potential effects on U.S. jobs and the challenges facing the Federal Reserve in b...
Apr 04, 2025•9 min•Ep. 287
In this episode, Roshan Ahmad, global head of sovereign advisory, sits down with Arsalan Mahtafar, head of the Development Finance Institution (DFI) to discuss insights from the Annual DFI Report. Discover how the development finance landscape is changing, and the DFI’s role in mobilizing $5.6 billion of capital. Arsalan shares insights on expanding into high-income jurisdictions and leveraging AI for impact measurement. How is impact data becoming simpler and more transparent, and what's on the...
Apr 02, 2025•14 min•Ep. 286
In this episode of Making Sense, we delve into the transformative world of in-car payment solutions. Join Bal Ahir, global head of Mobility Payment Solutions, and Abdullah Pandit, Product Strategy and Global Partnerships lead, as they explore the future of connected cars and how they are revolutionizing the way we think about payments on the go. Discover the opportunities and challenges facing the automotive industry as it embraces seamless, frictionless payment experiences. From strategic partn...
Apr 01, 2025•20 min•Ep. 285
In this episode of Making Sense, Bal Ahir, global head of Mobility Payment Solutions, and Suela Rossberg, EMEA head of Payments for Energy, Power and Renewables, explore the rapidly evolving landscape of electric vehicles and their impact on the energy ecosystem. From the increasing demand for electricity to the role of smart energy solutions, discover how electric vehicles are reshaping infrastructure and energy management. Learn how EVs could support grid operators and the importance of strate...
Mar 28, 2025•20 min•Ep. 284
In this episode, Eloise Goulder, head of the Data Assets and Alpha Group, and Lauren Anderson, head of Government Relations for EMEA, discuss the global geopolitical backdrop following a record elections year. They then dive into Europe, given the sharp outperformance of European equities year to date, addressing the extent to which geopolitical, fiscal, defense and growth developments could mark a structural shift for the region. In addition, they address challenges including tariffs, as well a...
Mar 21, 2025•23 min•Ep. 283
In this episode of J.P. Morgan’s “Making Sense,” Joyce Chang is joined by Sam Saperstein and Chi Mac to discuss the eighth annual report on gender parity, highlighting record-high female labor force participation, the gender pay gap and women’s representation in leadership roles. Learn about the challenges women face in the workforce and effective policies to tackle them, such as child care subsidies. How can public policy and financial institutions support gender equality and empower women in b...
Mar 18, 2025•19 min•Ep. 282
