Capital Allocators – Inside the Institutional Investment Industry Matt Levine – Money Stuff (Capital Allocators, EP.97)
Apr 29, 2019
In this engaging conversation, Matt Levine, a talented writer behind Bloomberg's daily financial newsletter Money Stuff, shares his unique journey from law school to journalism. He dives into the complexities of securities fraud and stock buybacks, providing a witty yet insightful critique of corporate practices. Levine also unpacks the credit default swap market and discusses the impact of index funds on corporate governance. With humor and depth, he emphasizes the importance of pursuing passion over prestige in career choices.
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Career Transition
- Matt Levine transitioned from law to investment banking, driven by industry trends and a desire for better hours.
- He later quit banking for a writing role at Dealbreaker, a financial blog.
Dealbreaker Experience
- Dealbreaker provided a flexible, creative environment.
- Levine and Bess Levin treated it as an 'art project', even hosting dramatic readings of old blog posts.
Securities Fraud
- Everything can be framed as securities fraud due to companies' failures to disclose information.
- This creates opportunities for legal action but raises ethical questions about prioritizing shareholders.