Money Stuff: The Podcast

Matt and Katie dive into the intriguing world of corporate holiday parties and shareholder meetings. They explore the end of the Strategy premium narrative and its impact on markets. The hosts discuss Bill Ackman's closed-end fund ambitions and his preference for permanent capital over ETFs. Innovations like Goldman's purchase of Innovator and the appeal of buffer ETFs take center stage. They also debate critiques of buffer ETFs, including insights from Cliff Asness, making for a lively financial conversation.

Gappy Paleologo, a quantitative researcher and portfolio manager at Balyasny Asset Management, shares insights from his rich career across prop and hedge funds. He discusses the significance of gardening leave, how it fosters creativity in teaching and writing. Gappy explores the role of factor models in investing, contrasts physics and economics backgrounds for quants, and highlights AI's evolving influence on finance. He intriguingly posits about journalists transitioning into investment roles, revealing fresh perspectives in the finance landscape.

Katie and Matt dive into the intriguing world of Batman tattoos and collectibles. They explore the complexities of binary options and prediction markets, discussing their potential to transform collectibles into bets. The hosts dissect the drama surrounding Blue Owl’s BDC merger and the implications for public versus private credit. Legal ramifications from Frank's sale to J.P. Morgan are unpacked, highlighting fraud allegations and soaring legal costs. Alongside humor, they scrutinize expense practices in the corporate world, raising questions about accountability.

Katie and Matt dive into the quirky world of ASMR before tackling the pros and cons of 50-year mortgages. They break down how assumable and portable mortgages could reshape the landscape for borrowers. The duo discusses the influence of proxy advisors on shareholder voting and challenges facing index funds and corporate governance. Competition for hedge fund talent heats up with gardening leaves inflating salaries. Finally, they ponder the potential of AI to expand the PhD talent pool and shift future research incentives.

Hosts delve into the Supreme Court’s skepticism regarding Trump's tariff authority and the constitutional implications of tariffs as taxes. They explore the complexities of refund logistics if tariffs are overturned, alongside Novo Nordisk's controversial bid for Metsera, which raises antitrust concerns. The discussion extends to Samuel Bankman-Fried’s legal troubles and the allegations of fraud against former executives at First Brands. They also consider how diligent inquiry and blockchain technology could help prevent invoice financing fraud.

This lively discussion dives into the spooky world of AI capital spending and Meta's ambitious data center plans. The hosts explore intriguing project finance structures that keep costs off balance sheets. They also unpack OpenAI's evolving governance and its potential IPO for hefty compute expenses. Plus, there's a deep dive into Elon Musk's controversial pay package and the Tesla succession debate. Sprinkle in some Halloween costume chatter and amusing JPMorgan HQ anecdotes, and you've got a captivating mix of tech and finance!

The hosts dive into JPMorgan’s stunning new headquarters, featuring unique amenities like in-office pubs and gyms. They explore the implications of a giant corporate campus on office culture. Shifting gears, they discuss OpenAI's Project Mercury, where experts refine AI models for precise tasks, and the debate over whether AI could replace junior bankers. A compelling analysis of 'credit cockroaches' highlights how small credit issues can point to larger problems, alongside a discussion on recent scandals at banks like Zions and 777 Partners.

Katie and Matt dive into the chaos of late-cycle credit accidents, likening them to cockroaches that scuttle out when trouble brews. They dissect the clash between private credit and banks, revealing the implications for loan quality. The duo ponders a curious Polymarket win linked to the Nobel Peace Prize announcement. They also explore the wild world of 24-hour trading and its impact on retail investors, pondering whether markets can ever truly be automated while appreciating the human quirks that persist amid the chaos.

Katie and Matt dive into an intriguing discussion about ICE's $2 billion deal with Polymarket, exploring the implications for prediction markets and sports betting. They dissect the OpenAI and AMD partnership, revealing how AI is reshaping public valuations. The hosts also tackle the sustainability of cloud margins and pricing power dynamics in the evolving AI landscape. Plus, they reflect on Cathie Wood’s insights into ETFs and recap the thrilling Midnight Madness puzzle hunt, blending finance with fun.

Delve into the winding challenges faced by smaller multistrategy hedge funds against giants like Citadel. Explore the unique dynamics between headhunters and agents for hedge fund managers. Discover how the market is evolving with the emergence of AI researcher agents. The discussion also touches on Kalshi's innovative entry into sports betting and whether same-game parlays truly qualify as prediction markets. Predictions fly, including the likely arrival of a football betting ETF, reshaping the wagering landscape.