

No Kiddie Pool
Matt and guest co-host Silvia Killingsworth discuss the Situational Awareness situation, record dates, CVRs, and sourcing weird volatility risk from retail customers to sell to hedge funds.

Worried Noises
Katie and Matt discuss 351 exchanges, the Gabe Plotkin ETF, the two laws of tax, tax code is not quite law, Gary Gensler’s cell phone, crypto vs. the SEC, the Truth API, nuclear fusion, sports indexes and ETFs of 351 ETFs of ETFs.

Animal Communicator
Katie and Matt discuss Katie’s animals’ feelings, sports gambling ETFs, Matt’s SEC comment, active ETF management, South Korean regulatory regrets, perfect distilled margin debt, Strategy’s software business and SpaceX’s stock price.

Paid in Eggs
Katie and Matt discuss Katie's baby shower, No Elon ETFs, index preferences, ETFs as performance art, index rebalancing, liquidity provision, averaging into the index, lockup supply vs. index demand, egg manipulation, bird flu and everything-is-securities-fraud lawsuits.

100 John Does
Katie and Matt discuss sports, the weather, lobster cake, getting picked off by insider traders, the retail options casino, limiting sharp bettors, sports gambling ETFs, weird ETFs generally, bad vibes at Strategy, Bitcoin leverage and ChatGPT security design.

One Big Blob of Elon
Katie and Matt discuss summer vacation, SpaceX/Tesla, Elon Musk re-conglomeration, MacroHard, Meta prediction markets, human social behavior, Farmville, AI engagement, base revealed preferences, private credit redemptions, monthly liquidity and BDC arbitrage.

Book of Souls
Katie and Matt discuss sports, mostly not SpaceX, alien capital markets, blinking, quality of earnings, hedge fund heroes, keeping a stegosaurus in your living room, the Book of Souls, capacity constraints, ruthless self-examination, market structure sickos, the trade-through rule, speed bumps and …

Strongly Worded Letters
Katie and Matt discuss the pricing of the SpaceX IPO, cash-settled derivatives gambling, S&P’s no-fast-tracking decision, index divergence, active-management benchmarking, SpaceX ESG, federal sports gambling regulation, Matt’s future coaching Little League, market integrity, brawls, everything is a…

Champagne and Caviar
Katie and Matt discuss the Knicks, the Jeffrey, hedging sports bets with sports bets, Google selling some stock, net equity issuance, taxes on stock vesting, Andrew Left, how long you have to be short, the decline of activist short selling and not saying dumb stuff in email.

Shameful Secret Heart
Katie and Matt discuss the SpaceX IPO, enterprise AI, Mars colonies, the Elon Musk premium, consternation about indexes, a no-Elon index, closet indexing, price-insensitive IPO demand, unconstrained Elon Musk, Robinhood AI agents, the universal wrapper for trade ideas, invisible transaction costs, …