The audio companion to Bloomberg Opinion’s beloved Money Stuff column hosted by its author Matt Levine, “whose deadpan style mixes technical elucidation and wit” (NY Times). Once a week, Matt and his friend, Bloomberg News reporter and TV host Katie Greifeld, talk about Wall Street, finance and…other stuff. New episodes every Friday.
Katie and Matt discuss JPMorgan’s new headquarters, in-office pubs, in-office gyms, the JPMorgan District, specialist fine-tuning of AI models, pls fix memes, crushing investment banking analysts’ hopes and dreams, the craft of building LBO models, credit cockroaches and indirect lending. See omnystudio.com/listener for privacy information.
Katie and Matt discuss late-cycle credit accidents, dancing while the music plays, banks vs. private credit, the Nobel Peace Prize, institutional-grade prediction markets, 23-hour-a-day stock trading, picking off drunks at 3 a.m., digesting news outside of market hours, windows of liquidity and the rhythm of being a human. See omnystudio.com/listener for privacy information.
Katie and Matt discuss finance book parties, the ICE/Polymarket deal, understanding and pricing the future, the Grossman-Stiglitz paradox, prediction-market spillovers, sports quants, tokenization, the OpenAI/AMD deal, discounting the AI future, AI pricing power, Cathie Wood’s emotional maturity, the ETF ecosystem and the Midnight Madness puzzle hunt. See omnystudio.com/listener for privacy information.
Matt and Katie discuss multistrategy hedge funds, talent sieves, agents vs. headhunters, hedge fund managers' sense of their market value, agents for AI researchers, same-game parlays, sportsbook market structure and football betting ETFs. See omnystudio.com/listener for privacy information.
Matt and Katie discuss reader mail about tungsten cubes, monthly financial reporting, long-term levered ETFs, the shrinking public markets, betting on onion prices, betting on stock prices, limiting sharp bets, missing expectations and bonds being stupid. See omnystudio.com/listener for privacy information.
Matt and Katie discuss ARK heartbeat (?) trades, IPO allocations, ETFs as widgets, quarterly earnings, barriers to going public, structured notes, installment index puts and Katie’s vacation plans. See omnystudio.com/listener for privacy information.
Katie and Matt discuss the career advantages of losing a billion dollars, wounded lions, hedge fund comp structures and stock prices, Elon Musk’s comp structure, reasons for Tesla to invest in xAI, the New York City mayoral race, insider trading on prediction markets and Polymarket coming home. See omnystudio.com/listener for privacy information.
Katie and Matt discuss the taxation power, IEEPA, tariff refunds, government revenue sharing, voluntary tariffs, alternative/traditional asset manager partnerships, Goldman buying a little bit of T. Rowe, private assets in target-date funds, deal-contingent hedges, private equity becoming the main clients of investment banks (and hedge funds). See omnystudio.com/listener for privacy information.
Katie and Matt discuss Taylor Swift, dating podcasters, the betting markets/financial markets convergence, commodity insider trading, a magical money printing machine, weird preferred stocks, the crypto treasury boom, Money Stuff’s effect on academic tenure, IPO pops, private company pops and security-based swaps. See omnystudio.com/listener for privacy information.
Katie and Matt discuss reader questions about Blooming Onion futures, IPO pops, alternative treasury companies, sports bar hedging, no-penalty CDs, spirit securities, “internet personality” as a career and news anchor vocal training. See omnystudio.com/listener for privacy information.
Katie and Matt discuss Matt's vacation plans, Elon Musk's propensity to ruin them, Musk's new good-faith payment from Tesla, his work schedule, Tesla as a car company vs. Tesla as the future of life, Regulation FD, tone and body language, hedge funds vs. long-only investors, retail corporate access, on-cycle recruiting and the heat death of the universe. See omnystudio.com/listener for privacy information.
Katie and Matt discuss retail private assets, offsetting unicorn closed-end funds, Matt’s infrequent trading in his personal account, FX derivatives, unsophisticated clients, limited upside with unlimited downside, hurricanes, never-pay insurance policies and a call for mailbag questions. See omnystudio.com/listener for privacy information.
Katie and Matt discuss bird gender reveal parties, meme stocks, short squeezes, AI as a distillation of human wisdom, dispersion trades, ETF tax efficiency, heartbeats, everything will be a tokenized ETF, the Qs, ETF marketing budgets and the rule against perpetuities. See omnystudio.com/listener for privacy information.
Katie and Matt discuss search funds, post-MBA career paths, Katie’s future in horse barn ownership, search-fund flips, the Windsurf quasi-acqui-hire deal, Vanguard and Strategy, the function of index funds, owning the global financial portfolio and Perching Square Capital Management’s closed-end fund. See omnystudio.com/listener for privacy information.
Katie and Matt talk about dreams, Jane Street's Indian options trade, XAI, Tesla governance, sports gambling and prediction markets. See omnystudio.com/listener for privacy information.
Katie and Matt talk with Gappy Paleologo of Balyasny Asset Management about gardening leave, what makes a good quant researcher, factor models, the social function of hedge funds, AI and journalists as portfolio managers. See omnystudio.com/listener for privacy information.
Matt and Katie discuss Boomer-candy ETFs, autocallables, private-credit trading, volatility laundering and Mark Zuckerberg's hiring spree. See omnystudio.com/listener for privacy information.
Matt and Katie talk with their guest, Cliff Asness of AQR, about momentum, meme stocks, value, market timing, publishing, academics, explaining factors, how much to charge for alpha, private assets and machine learning. You can also watch this episode on YouTube . See omnystudio.com/listener for privacy information....
Matt and Katie discuss the Michael Saylor vs. Jim Chanos debate, financial gibberish, the mid-2000s federal clerkship hiring plan, private equity recruiting and mid-frequency trading. See omnystudio.com/listener for privacy information.
Katie and Matt discuss Wells Fargo’s asset cap, credit ratings conflicts of interest, private credit controversies in the insurance business, why BBB- is the best rating, Main Line real estate prices, Marshall Wace, hiring cheaters at hedge funds and signals from the sell side. See omnystudio.com/listener for privacy information.
Katie and Matt discuss Katie’s new bird, the legality of tariffs, the TACO trade, rooting for the nondelegation doctrine, implicit guarantees, the money to be made if Fannie Mae and Freddie Mac are re-privatized, stuffing Bitcoins into public companies and owning the global financial asset portfolio. See omnystudio.com/listener for privacy information.
Katie and Matt talk with Ryan Patch and Jon Seale of Great Gotham Challenge about building puzzle hunts for the hedge fund manager who has everything. See omnystudio.com/listener for privacy information.
Matt and Katie discuss leveraging up your 401(k), everyone's love for putting private credit into retirement accounts, mortgages versus margin loans, college finance clubs, travel sports and how to get Elon Musk paid. See omnystudio.com/listener for privacy information.
Katie and Matt discuss Warren Buffett's retirement, his successor at Berkshire Hathaway, his other successor (Bill Ackman), OpenAI's restructuring, Sam Altman's incentives and Medicaid provider taxes. See omnystudio.com/listener for privacy information.
Matt and Katie talk about what Tesla is, splitting the roles of CEO and Technoking, the Musk attention auction, the benefits of not paying attention to X debt prices, and why everyone likes private assets. See omnystudio.com/listener for privacy information.
Matt and Katie talk general craziness, tariffs, Jerome Powell, volatility and predictability, plus Goldman pay, alts managers versus banks, Twenty One and negative Bitcoin per share. See omnystudio.com/listener for privacy information.
Matt and Katie answer reader questions about law firm IPOs, cyber horses, private credit marketplaces, S&P 500 basis ETFs, the option value of personal bankruptcy, names for children/horses/ETFs and ETFs of BDCs. See omnystudio.com/listener for privacy information.
Matt and Katie discuss fake tariff tweets, real tariff Truths, swaps, futures, basis trades and and ETF for shorting leveraged ETFs. See omnystudio.com/listener for privacy information.
Matt and Katie do not discuss tariffs but do discuss meme stock mini-IPOs, the stablecoin business, adult custodians of T-bills, booping some Circle coins, valuing X and xAI, X/xAI synergies, other possible Musk mergers, buying Tesla stock in order to complain about Elon Musk, and what we would do if someone gave us $7 million by mistake. See omnystudio.com/listener for privacy information.
Katie and Matt discuss the Endeavor deal, Carl Icahn, dodging brokers' phone calls, strategic holdings, a baby Berkshire boom, Katie's contact lens reorder, reinvesting crypto winnings in land, real-time-ish private stock prices, OpenAI's lack of stock volatility and distracting stock prices. See omnystudio.com/listener for privacy information.
