Unhedged

Aiden Reiter, a notable markets and finance journalist, joins the hosts to explore the intriguing theory that small and mid-cap stocks might outpace the S&P 500 as interest rates decline. They dissect the performance trends of these smaller firms, revealing the challenges they face amid market fluctuations and economic sensitivity. There's also a lively debate on the investment potential of mid-caps and the effects of market concentration. The conversation wraps up with humor around knitwear as they discuss seasonal fashion trends.

The hosts analyze the Federal Reserve's surprising interest rate cut, questioning if it signals an impending crisis or if investors are misreading the situation. They delve into the complexities of monetary policy and speculate on future rates amidst current economic pressures. A humorous debate on the work-life balance of investment bankers lightens the mood, while a discussion on potential European banking mergers reveals historical tensions and aspirations. Expect both keen insights and playful banter throughout!

Sujeet Indap, Wall Street editor at the Financial Times, and Eric Platt, senior corporate finance correspondent, dive into the intricate world of Apollo Global Management. They explain how Apollo shifted from traditional asset management to a key player in corporate lending. The duo discusses asset-backed lending, the complexities of new credit dynamics, and the economic implications of changes like telework. They also dissect Boeing's potential despite its challenges and reveal the intriguing future of News Corp amidst its unfolding drama.

David McWilliams, a renowned Irish economist and the founder of Kilconomics Festival, dives into Ireland's remarkable economic transformation. Once facing emigration, the country now thrives as a corporate tax haven for giants like Apple and Google, boasting an €8bn surplus. McWilliams discusses how to effectively manage this financial windfall while addressing the struggles of small businesses overshadowed by multinationals. The conversation also touches on the historical ties between humanity and money, setting the stage for Ireland's future financial strategies.

In this engaging discussion, Jay Powell, the chair of the US central bank, dives into the uncertain waters of potential interest rate cuts. He hints at forthcoming reductions but leaves the exact figures up for debate. The hosts, Katie Martin and Rob Armstrong, passionately argue the merits of a 25 versus a hefty 50 basis point cut. They also humorously critique Apple’s latest phone while exploring the technological advancements in veterinary care, blending serious financial insights with lighthearted storytelling.

Aiden Reiter, an expert in economic strategies, discusses the pressing issues in the US housing market. The conversation dives into the alarming rise in home prices and stagnant supply, reflecting on the affordability crisis faced by many Americans. Proposals from political figures like Vice President Harris and former President Trump are scrutinized for their feasibility. The talk also covers challenges posed by local zoning laws and the slow pace of new construction, while offering insights into the complexities of the Turkish equity market and yield curve dynamics.

Recent market shifts are steering attention away from tech giants to more stable names like Walmart and Berkshire Hathaway. The discussion focuses on whether this signifies a broader change in investment strategies. Plus, the hosts debate if Jerome Powell's success is due to skill or sheer luck, stirring thought about the complexities of economic management. With thoughts on AI's impact and the balance between theoretical insights and practical moves, the conversation reveals much about today's evolving market landscape.

Toby Nangle, a former asset manager and current journalist at the FT, delves into the murky ethics of investing for authoritarian regimes. He shares his journey from finance to journalism after grappling with moral dilemmas surrounding human rights abuses in sovereign wealth funds. The conversation highlights the tension between profit and personal values, stressing the need for ethical engagement in investment practices. Nangle also reflects on the political implications of these investments, like how they can serve dual economic and political goals.

Gold prices have soared to a record high, igniting debates about its role as a safe haven amid inflation and political uncertainty. The fascination with gold reflects a deeper distrust in government and central banks, especially in turbulent economic times. Unique demand dynamics from countries like China and India add to its allure. Additionally, the podcast draws intriguing parallels between gold and Bitcoin, scrutinizing their shared reliance on belief for value. Market predictions also delve into NVIDIA's future amidst this backdrop of volatility.

Chris Giles, an insightful economics commentator from the FT, joins to unpack the intriguing phenomenon of the Jackson Hole economic symposium. He explains why central bankers meet in a remote setting and discusses the significance of the upcoming remarks from the Federal Reserve chair. The conversation delves into how these statements can sway market perceptions on interest rates and inflation. They also touch on the need for broader investment access for everyday Americans while sharing amusing anecdotes from exclusive conferences.