Odd Lots

In this engaging discussion, Joe Dowling, the global head of multi-asset investing at Blackstone and former head of Brown University's endowment, shares his insights on the rise of alternative investments in collegiate finance. He explains why universities, including Yale and Harvard, have leaned heavily into alts and the pressures they're now facing. Joe dives into the long-term focus required for endowment investing, the significance of due diligence in evaluating hedge funds, and how strategies are adapting in the face of market volatility.

Bill Beach, former commissioner of the US Bureau of Labor Statistics, shares his insights on the growing challenges in gathering economic data. He highlights the declining response rates to surveys, particularly along political lines, complicating the accuracy of economic indicators. Beach discusses the urgent need to modernize data collection methods and the implications of reduced funding on the quality of statistics. Join him for a fascinating exploration of how the state of data impacts our understanding of the economy.

Ira Jersey, Chief US interest rate strategist at Bloomberg Intelligence, shares his expertise on the bond market's latest turmoil. He explains how typical safe havens like US Treasuries have faltered, especially following President Trump's 'Liberation Day'. The conversation dives into the spike in yields during April 8-9, revealing unexpected selling and liquidity challenges. Jersey also discusses the implications of shifting foreign ownership patterns and how these dynamics impact U.S. fiscal policy and global investor confidence.

Benn Eifert of QVR Advisors, a savvy market strategist, dives into the latest shifts in trading dynamics. He discusses how retail traders have flooded the options market, particularly on TikTok, but notes a surprising silence from social media influencers amid recent volatility. Eifert analyzes the correlation between geopolitical events and trader confidence while exploring innovative concepts like the 'Terminal Olympics' for traders. He emphasizes the need for informed decision-making in an increasingly complex trading landscape.

Anna Wong, Chief US Economist at Bloomberg Economics, sheds light on the looming impact of tariffs on the supply chain and retail landscape. She details how shipping trends from China expose vulnerabilities as major retailers prepare for the holiday season. Wong argues that while economic data seems stable, the real consequences are felt in layoffs and profit margins. Listeners will find her insights into the disconnect between economic indicators and daily life particularly revealing, especially in light of rising household costs and altered consumer behaviors.

David Woo, founder of David Woo Unbound and former head of global economics at Bank of America, shares his insights on the escalating U.S.-China tensions. He predicts that the real economic pain from tariffs is coming and argues it's more severe than a typical trade war. Woo explains the damaging 'war of attrition' impacting both economies and critiques the hardline approaches shaping trade relations. He highlights the political implications and discusses how these dynamics could hinder future negotiations as diplomatic trust erodes.

Dive into the fascinating world of breakfast economics, where the price of a bacon, egg, and cheese sandwich reveals surprising insights about inflation and supply chains. Hear from farmers and coffee roasters as they explain how global events and avian influenza impact prices. Discover how trade wars and tariffs shape the agricultural market and drive costs higher. Plus, learn about creative ways consumers adapt to rising food prices while still enjoying their favorite morning treats.

Hassan Khan, the former director of economic security in the CHIPS Program Office at the Department of Commerce, shares his insights on the CHIPS Act's impact on U.S. manufacturing. He discusses the challenges of boosting semiconductor production amid political polarization and supply chain issues. Khan highlights the delicate balance between community interests and the need for competitive industrial development. He also addresses the complexities of the approval process for new manufacturing plants and the critical role of timely government investments in revitalizing the sector.

Martin Wolf, Chief Economics Commentator for the Financial Times and noted author, discusses the recent upheaval in global trade sparked by President Trump's tariffs. He delves into how these policies challenge the very foundations of globalization and affect international politics. Wolf analyzes potential responses from Europe and China, providing insight into the complexities of U.S. isolationism and the shifting economic landscape. He also examines the impact on the U.S. dollar and how rising populism influences global economic dynamics.

Joe Weisenthal, co-host of Bloomberg’s Odd Lots podcast, dives into the economic turmoil resulting from unpredictable U.S. trade policies. He discusses how this uncertainty creates a climate of decision fatigue for businesses, hampering investments and economic growth. Weisenthal compares today's economic instability to past crises, highlighting how corporate focus has shifted from growth to cost-cutting. He emphasizes the critical need to monitor market indicators to navigate through these turbulent times.