Odd Lots

Join John Rogers, founder and co-CEO of Ariel Investments, a celebrated value investor specializing in mid- and small-cap stocks. He discusses the relevance of value investing against a backdrop of modern trends like AI and passive investing. Rogers highlights his strategies for identifying overlooked 'orphan stocks' and shares intriguing investments, including The Sphere in Vegas. He emphasizes building relationships with company management and the importance of looking for competitive advantages, all while navigating today’s complex market landscape.

Sam Ro, author of the Tker.co newsletter, dives into the vibrant world of Registered Investment Advisors (RIAs) and the Future Proof Festival in Huntington Beach. He shares insights on how RIAs are redefining client service and industry collaboration. The conversation navigates the complexities of interest rates and market volatility, blending humor with critical financial analysis. Ro also discusses the essential role of curation in financial media and reminisces about the nostalgic impact of 90s music on wealth management and concert touring.

Danielle Poli, co-portfolio manager of Oaktree's Diversified Income Fund, shares her insights on the shifting credit landscape following recent Federal Reserve rate cuts. She discusses the surprising resilience of corporate credit despite high inflation and rising interest rates. Danielle delves into the explosive growth of the private credit market and its impact on traditional financing. With a focus on navigating market volatility, she highlights the importance of liquidity, adaptive strategies, and evolving trends in the BBB bond market.

Dan Ivascyn, Group CIO at Pimco and manager of a massive $158 billion income fund, shares valuable insights on the uncertainty surrounding the Fed's interest rate decision. He discusses whether investors should brace for a 25 or 50 basis point cut, highlighting the complexities of the current financial landscape. Ivascyn emphasizes the strategic significance of high-quality bonds and offers investment recommendations in a low-yield environment. He also reflects on how evolving market conditions are reshaping traditional investment strategies.

Josh Brown, CEO of Ritholtz Wealth Management and author, discusses his journey from stockbroker to financial media giant. He shares insights on the transformation of financial commentary triggered by the 2008 crisis. Brown reflects on the rise of blogging and social media, highlighting personal anecdotes from that chaotic time. He candidly explores the challenges of navigating traditional media, the importance of genuine guidance, and the evolution of financial narratives, revealing how he became a trusted voice in the industry.

JF Legault, Deputy CISO at J.P. Morgan Chase, sheds light on the escalating threats facing financial institutions. He discusses sophisticated phishing schemes and cyber heists that go beyond mere theft. Legault emphasizes transforming teams into early detection networks as a key strategy for resilience. David Adrian from Chrome highlights the importance of web browsing protections and robust monitoring as critical components of this strategy. Together, they explore how adapting to evolving threats can safeguard sensitive financial data.

Isabella Weber, an economics professor at the University of Massachusetts Amherst, shares insights on Mario Draghi's report aimed at boosting Europe’s competitiveness. They discuss the pressing issue of fiscal austerity and its impact on growth, as well as the challenges in the European energy market amidst high gas prices. Weber emphasizes the need for collaborative approaches in the green transition and critiques Europe’s national strategies over global expansion. The conversation also touches on the decline of Chinese EV companies and Eurozone tensions.

In this insightful discussion, Adam Tooze, a Columbia University professor and author, tackles misconceptions surrounding the Chinese economy. He argues that the notion of 'overcapacity' in China is flawed, suggesting the U.S. may be misplacing its focus on industrial revival. Tooze dives into China's economic paradox, exploring the challenges of state-directed capitalism amidst its urban successes. He also highlights the complexities of economic policies affecting both China and the U.S., urging a broader view of global trade dynamics.

In this conversation, Katherine Tai, the United States Trade Representative, shares insights on redefining globalization with a focus on worker-centric policies. She discusses the shift in U.S.-China trade dynamics, emphasizing the bipartisan call for change and the impact of tariffs. Tai also highlights the importance of domestic investments and how to address socioeconomic gaps through international trade. Additionally, she reflects on the historical context of trade agreements like NAFTA and advocates for evolving strategies to foster equitable global economic relations.

Austin Campbell, an adjunct professor at Columbia Business School and founder of Zero Knowledge Consulting, dives into the booming world of stablecoins. He argues that these digital assets are more than just speculative tools; they are pivotal for solving real-world money transmission issues, especially internationally. Campbell highlights the importance of transparency in stablecoin reserves and the regulatory challenges facing the sector. He discusses how stablecoins might serve as a new form of banking amidst traditional financial constraints.