Odd Lots

Deven Mitchell, CEO, and Marcus Frampton, CIO of the Alaska Permanent Fund, discuss the unique dynamics of the only sovereign wealth fund in the U.S. They delve into the fund's origins, driven by Alaska's oil boom, and its vital role in supporting the state's budget with annual resident dividends. The duo shares insights on adapting investment strategies amidst fluctuating oil prices and the legal complexities tied to fund management. They also explore Alaska's potential as a renewable energy hub, emphasizing sustainable stewardship for future generations.

In this engaging conversation, Daniel Delfino, Jimmy Ord, and Stacy Barnes from the Alaska Housing Finance Corporation dive into the puzzling housing crisis in Alaska despite a declining population. They explore the unique obstacles posed by environmental conditions and local regulations that hinder housing availability and affordability. The trio discusses the complexities of Anchorage’s housing market, unexpected trends in vacancies, and the importance of community collaboration. They also shed light on innovative solutions tailored to meet these challenges head-on.

Skanda Amarnath, the executive director of Employ America and a macroeconomics expert, dives deep into today’s perplexing economic landscape. He discusses the tension between persistent inflation and a sluggish job market. The growth of the AI sector and its impact on traditional industries adds another layer of complexity. Skanda also highlights the pressing issues surrounding the Federal Reserve's independence and the challenges posed by political pressures. With the Jackson Hole conference on the horizon, he unpacks the critical questions facing policymakers.

Burton Flynn and Ivan Nechunaev, managing partners at Terra Nova Capital Advisors, specialize in uncovering unique investments in frontier markets. They dive into the booming hazelnut industry, discussing its potential as a snack food and its economic importance in Turkey's Black Sea region. The duo analyzes the complexities of hazelnut farming, market volatility, and the challenges that prevent hazelnuts from reaching the popularity of pistachios. Their insights on investing in this niche sector shed light on both its opportunities and hurdles.

In this engaging discussion, Josh Norum, President and owner of Sourdough Express, shares his insights on the unique challenges of trucking in Alaska, a state known for its treacherous icy roads and extreme weather. He highlights the importance of community among truckers and their critical skills in navigating rugged terrain. Norum also discusses the economic cycles impacting the industry, fuel logistics in remote areas, and the camaraderie that comes with the demanding lifestyle of Alaskan drivers. Tune in for a thrilling peek into this high-stakes world!

Dave Cavitt, the Founder and CEO of Furniture Enterprises of Alaska, shares insights from his experience managing furniture retail in one of the most logistically challenging states. He discusses the unique impact of Alaska's climate on furniture design and durability. The conversation dives into the effects of tariffs on import costs, the challenges of a stagnant housing market, and how smaller businesses adapt to price fluctuations. It’s a fascinating look at the intersection of local challenges and broader economic trends in the furniture industry.

Mary Daly, President and CEO of the Federal Reserve Bank of San Francisco, shares her insights on Alaska as a leading economic indicator for the U.S. She discusses the unique challenges of Alaska's economy, how local conditions influence inflation expectations, and the role of AI in enhancing productivity. Daly also reflects on the disconnect between personal and national economic sentiments and delves into the impact of tariffs on inflation. Her big-picture views on structural trends and adaptive decision-making highlight the complexities facing today's economic landscape.

Joseph Torigian, a research fellow at Stanford and author of a biography on Xi Zhongxun, sheds light on the opaque politics of the Chinese Communist Party. He discusses the historical influences of Mao and Deng, revealing the intricacies of factionalism and the legacy of the Cultural Revolution. The conversation highlights how Xi Zhongxun’s struggles inform contemporary governance under his son, Xi Jinping. Torigian also draws surprising connections between literature and political dynamics, offering unique insights into the CCP's inner workings.

Bill Beach, former commissioner of labor statistics, discusses the recent dramatic firing of the BLS head by Donald Trump after a disappointing jobs report. He delves into the integrity of labor data and how political actions can erode public trust. The conversation uncovers the challenges faced by the BLS in maintaining data accuracy amid budget cuts and leadership changes. Beach emphasizes the need for modernization in data collection and reflects on the long-term impact of politicizing economic indicators.

John Coogan and Jordi Hayes, co-hosts of TBPN, dive into the booming AI industry, likening it to professional sports. They discuss why engineers are now receiving staggering pay packages, exploring the dynamics of talent acquisition and the concept of 'exploding offers.' The conversation shifts to the competitive landscape, highlighting innovative advancements in AI while addressing issues like energy constraints in AI model development. They also reflect on the emotional turmoil within the industry during turbulent acquisitions, revealing the stakes of retaining top talent.