Rebecca Patterson, director of investment research at Bridgewater Associates, discusses the reversal in some of the market moves triggered by optimism about the reopening of economies shut down by the Covid-19 pandemic. She also gives her take on inflation risks, the delta variant of the virus, and Bridgewater’s famous All Weather balanced-portfolio strategy. Mentioned in this podcast: A Sloppy Summer for Stocks Is Going to Test Your Stomach This Cult Classic Buy Signal Isn't to Be Trusted See o...
Jul 23, 2021•37 min
What is the point of creating synthetic stocks and ETFs to trade on the blockchain with cryptocurrencies? Do Kwon, co-founder and CEO of Terraform Labs, explains how mirrored assets like these work, what type of demand they can fill, and potential regulatory pitfalls. Also joining this episode is Kwon’s collaborator Zaki Manian, co-founder of Iqlusion and the Sommelier Protocol. The pair also discuss the effects of crypto scams on the world of decentralized finance, and why a novelty token like ...
Jul 16, 2021•36 min
Well, so much for that reflation and reopening trade. David Bianco, chief investment officer for the Americas at DWS Group, discusses why high-growth, digitally focused companies are back on the stock market’s leaderboard. Mentioned in this podcast: The Great Reflation Trade Is Buckling Around the World See omnystudio.com/listener for privacy information....
Jul 09, 2021•33 min
It’s the top question on the minds of everyone involved in the markets these days: How long is “transitory” when it comes to the Federal Reserve’s view on hotter-than-normal inflation? Jim Smigiel, chief investment officer at SEI Investments, discusses why his firm is “happy to take the side of an overshoot” when it comes to rising prices. He also discusses the flaws of simplistic 60/40 investing and how there’s more to building a diversified portfolio than just buying an index. Mentioned in thi...
Jul 02, 2021•37 min
Dimensional Fund Advisors, which manages $637 billion, was one of the first firms to take seminal academic financial research off of the campus and put it to work in the real-world art of managing money. How does a head-in-the-books firm like that respond now that retail day traders are in the driver’s seat and the market action often feels like a frat party rather than a lecture hall? Wes Crill, the head of strategists at Dimensional, talks about that as well as a variety of other market topics...
Jun 25, 2021•38 min
A few dots moved higher on a Federal Reserve chart of interest rate projections, and it caught many investors by surprise. Yet the hawkish turn tamped down market-based readings of inflation expectations and that could help the central bank keep stimulative policies in place longer, according to Brent Schutte, chief investment strategist at Northwestern Mutual Wealth Management Co. He discusses the dot-plot shocker and what it means for allocation decisions. Mentioned in this podcast: Risk and O...
Jun 18, 2021•33 min
What generation will drive the consumer economy and create stock-market winners in the post-pandemic world? Lauren Hill, a portfolio manager and analyst at Westwood Holdings Group Inc., says it will be a boom led by Baby Boomers, who have the most wealth and high vaccination rates. She discusses where consumer spending is headed and what stocks are poised to benefit the most. Mentioned in this podcast: Treasury Yields Slip Below 1.5% as Inflation Fears Ebb Gap’s Deal With Kanye West Starts With ...
Jun 11, 2021•38 min
They’re baaaaack! Day-trader cult stocks like AMC Entertainment Holdings Inc. are dominating investors’ attention once again, with eye-popping rallies and crashes and even some free popcorn thrown in for those with the gumption to ride the rollercoaster. Kevin Russell, the chief investment officer of the $9 billion hedge-fund manager UBS O’Connor, discusses how his team tries to stay a million miles away from these companies. Russell also details the bull case for China, his outlook on inflation...
Jun 04, 2021•44 min
Seema Shah, chief strategist at Principal Global Investors in London, discusses the state of the global economy and why the equity rally seems to have hit the snooze button. The U.S. has reached “peak recovery” following the pandemic, she says, yet fundamentals remain strong so cyclical and financial stocks should continue doing well. Mentioned in this podcast: RETHINK THE 40 IN YOUR 60-40 PORTFOLIO Radioactive Rhino Horns Set to Add to Anti-Poaching Arsenal See omnystudio.com/listener for priva...
May 28, 2021•38 min
For years, cryptocurrencies were considered fringe investments on Wall Street, but this week a massive intraday plunge in Bitcoin corresponded with a big drop in the stock market. Has crypto contagion arrived in the financial system? Art Hogan, chief strategist at National Securities, discusses this, and reminisces about the crash of 1987 when he found himself knee-deep in ticker tape at the old Boston Stock Exchange. Mentioned in this podcast: Bitcoin Rally Was So Huge It Was Worth the Risk-Adj...
May 21, 2021•35 min
A shockingly high reading in the consumer price index landed with a bang in markets this week. Zachary Griffiths, a macro strategist with Wells Fargo, joined the “What Goes Up” podcast to discuss what inflation pressures he’s got his eye on and why he doesn’t think the latest numbers will cause the Federal Reserve to begin tapering its pace of asset purchases before the beginning of next year. See omnystudio.com/listener for privacy information....
May 14, 2021•41 min
Vincent Deluard, director of global macro strategy at the brokerage StoneX Group, discusses how Mexico and Canada may be primed to benefit from the continued reopening of the U.S. economy following the pandemic. Mentioned in this podcast: Did Capitalism Kill Inflation? Space Aged: Bottle of Wine from Space Station Could Sell for $1 Million See omnystudio.com/listener for privacy information....
May 07, 2021•38 min
Greg Jensen, the co-chief investment officer for the hedge-fund manager Bridgewater Associates, discusses this week’s Federal Reserve meeting and the firm’s approach to identifying excesses and bubbles in financial markets. Mentioned in this podcast: Fed Upgrades View of Economy While Keeping Rates Near Zero Powell Breaks Out the ‘Froth’ Word When Asked About Markets See omnystudio.com/listener for privacy information....
Apr 30, 2021•46 min
Liz Ann Sonders, chief investment strategist at Charles Schwab, joined the latest episode of the “What Goes Up” podcast to discuss what appears to be a shift in focus among the crowds of new day traders who were so influential in the U.S. stock market earlier this year. Says Sonders: “Really since mid-February, we've seen a shift — believe it or not — back toward some semblance of fundamentals driving stocks; a bit more of a quality bias, profitability bias, a little bit of a valuation bias.” Se...
Apr 23, 2021•43 min
Economic growth in 2021 is forecast to be unlike anything seen in the last several decades as the world begins to return to normal following the Covid-19 pandemic. Gaurav Mallik, chief portfolio strategist at State Street Global Advisors, joins the latest “What Goes Up” podcast to discuss what to expect and how he’s advising investors to allocate portfolios. See omnystudio.com/listener for privacy information.
Apr 16, 2021•36 min
He was one of the first money managers to deploy factor-investing strategies at his firm Gerstein Fisher, but now Gregg Fisher is trying something new: A quantitative approach to picking stocks of innovative small-cap companies at his new shop Quent Capital. Fisher joined this week’s “What Goes Up” podcast to discuss why he’s shifting to a more-active style of investing and how, despite his subsequent success, he wishes he could buy back that old drum set he sold for $900 in order to purchase a ...
Apr 09, 2021•44 min
The swift rise in Treasury yields that triggered some wild swings in the stock market stopped this week – at least temporarily. Shawn Snyder, the head of investment strategy at Citi Personal Wealth Management, joins the “What Goes Up” podcast to discuss what caused yields to cool off and what to expect next. See omnystudio.com/listener for privacy information.
Mar 26, 2021•33 min
Financial markets have become obsessed with the possibility of faster-than-normal inflation this year as economies reopen from Covid lockdowns. But inflation is a nuanced concept, so what different types of price rises should we expect? And most importantly, what does it all mean for markets in 2021? Joining the "What Goes Up" podcast this week to discuss this and other timely market topics is Philip Lawlor, head of global investment research at FTSE Russell. Mentioned in this podcast: Market Br...
Mar 19, 2021•37 min
A few decades ago, nobody really questioned vaccines. They were viewed as a standard part of staying healthy and safe. Today, the number of people questioning vaccines risks prolonging a pandemic that has already killed hundreds of thousands of Americans. How we got to this moment didn’t start with the rollout of vaccines or in March 2020, or even with the election of Donald Trump. Our confidence in vaccines, often isn't even about vaccines. It’s about trust. And that trust has been eroding for ...
Mar 16, 2021•3 min
Bond yields are rising, commodity prices are jumping, and stock markets around the globe are soaring. To David Adams, the chief investment officer at Reminiscent Capital, it all adds up to a single message: Central banks around the world have just gone too far. Based in Sydney, Australia, Adams discusses the implications. Mentioned in this podcast: An NFT Sold for $69 Million, Blasting Crypto Art Records ‘Dude, Get Back to Your Desk’: The Week That Roiled Bond Markets Nothing the Stock Market Do...
Mar 12, 2021•33 min
More than 150 years after the end of slavery in the U.S., the net worth of a typical white family is nearly six times greater than that of the average Black family. Season 3 of The Pay Check digs into into how we got to where we are today and what can be done to narrow the yawning racial wealth gap in the U.S. Jackie Simmons and Rebecca Greenfield co-host the season, which kicks off with a personal story about land Jackie's family acquired some time after slavery that they're on the verge of los...
Mar 08, 2021•3 min
The flattening of the Covid case curve and the re-opening of economies around the world is causing big ripples in the stock market, with investors selling off the Internet-based companies that led the market higher during lockdown. Susan Schmidt, head of U.S. equities at Aviva Investors in Chicago, discusses this and other hot topics for investors, including the recent jump in interest rates. Mentioned in this podcast: Stock Market Momentum Comeuppance Gets No Sympathy From the Fed Cathie Wood’s...
Mar 05, 2021•38 min
The surge in Treasury yields this week caught a lot of investors off-guard, triggering a bout of volatility in the stock market. Amanda Agati, chief investment strategist for PNC Financial Services Group, shares how government spending packages are affecting interest rates. She also discusses how she looks at alternative high-frequency economic data and why she’s bullish on emerging markets. Mentioned in this podcast: In a Flash, U.S. Yields Hit 1.6%, Wreaking Havoc in Markets GameStop’s Reddit-...
Feb 26, 2021•40 min
Marko Papic, partner and chief strategist at hedge-fund seeder Clocktower Group, discusses how the current economic and market cycle will be vastly different than the tepid recovery from the global financial crisis. He jokingly uses slogans from Reddit’s WallStreetBets forum to describe the risk-taking posture he believes investors will maintain amid a period of fiscal largesse: “All I know is that for the next two years, it’s like diamond hands and to the moon.” Mentioned in this podcast: The B...
Feb 19, 2021•39 min
The dislocations in markets last year created a fleeting opportunity to buy stocks that pay big dividends on the cheap. Sorting through which companies had the wherewithal to weather the pandemic and keep the payments flowing was not an easy feat, however, given the unprecedented economic shutdown and uncertainty about how long the virus would affect various types of businesses. Joining this week’s podcast to discuss his process for evaluating dividends – in normal times and crazy times – is Chr...
Feb 12, 2021•35 min
Like a lot of parents these days, Cameron Crise is dealing with a teenager at home who wants to get into day-trading and reap the type of the windfalls boasted about by the WallStreetBets crowd. Crise, a former hedge-fund trader and now a strategist at Bloomberg who writes the “Macro Man” column, had a novel way of handling the situation. Inspired by the classic movie “Trading Places,” he proposed a $1 bet on where GameStop shares were headed and another wager that his son Patrick could not doub...
Feb 05, 2021•40 min
The drama surrounding GameStop Corp. and other high-flying stocks targeted by social media-influenced traders has triggered a debate about behavior in markets and what regulators should do about it. Larry Tabb, the head of market-structure research at Bloomberg Intelligence, discusses this issue as well as the role clearing firms played in causing Robinhood and other brokerages to restrict trading in certain stocks. Mentioned in this podcast: In 11 Hours of Pure Mania, 100% Stock Gains Popped Up...
Jan 29, 2021•35 min
Why does Tesla joining the S&P 500 remind Wells Fargo Securities’ head of equity strategy of AOL and the dot-com boom and bust era? He also explains why he’s sticking with his year-end estimate of 3,850 for the S&P 500 even after the benchmark index reached that level in the first month of the year. Mentioned in this podcast: GameStop Record Surge Gives Win to Reddit Army in Citron Clash Riskier the Better Is Rallying Cry of Day Traders Going Small See omnystudio.com/listener for privacy...
Jan 22, 2021•35 min
The upcoming inauguration of Joe Biden as president offers the U.S. a chance to reboot its relationship with China after a tumultuous four years under Donald Trump. Bob Hormats of investment firm Tiedemann Advisors, who has served in senior economic and trade policy roles under five different U.S. presidents, discusses what’s at stake. Mentioned in this podcast: A Handful of Penny Stocks Just Made Up a Fifth of U.S. Volume See omnystudio.com/listener for privacy information....
Jan 15, 2021•36 min
Another week, another record high for stocks – even in the midst of political unrest. Vincent Deluard, director of global macro strategy at StoneX Group Inc., discusses the disconnect between stocks and reality, a so-called “bear market for humans,” his outlook for 2021, and the risk of inflation. Mentioned in this podcast: Stock Market Warns Workers That They’re the Problem for Business Day-Trader Heaven Arrives as Tesla, Bitcoin and Stock Options Surge See omnystudio.com/listener for privacy i...
Jan 08, 2021•41 min
