Brad Katsuyama has racked up oceans of newspaper ink since being propelled into the public spotlight as the protagonist of Michael Lewis's book on high-frequency trading, Flash Boys. The 38-year-old co-founder and chief executive of IEX, an exchange with a 'speed bump' designed to slow down lightning-fast traders on behalf of longer-term investors, won U.S. regulatory approval in June. In this special edition of Odd Lots, Katsuyama speaks with Bloomberg View Columnist Matt Levine about the next big steps in stock market structure. 

Brad Katsuyama has racked up oceans of newspaper ink since being propelled into the public spotlight as the protagonist of Michael Lewis's book on high-frequency trading, Flash Boys. The 38-year-old co-founder and chief executive of IEX, an exchange with a 'speed bump' designed to slow down lightning-fast traders on behalf of longer-term investors, won U.S. regulatory approval in June. In this special edition of Odd Lots, Katsuyama speaks with Bloomberg View Columnist Matt Levine about the next big steps in stock market structure.

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Join the conversation every Tuesday and Thursday for interviews with the most interesting minds in finance, economics and markets.

Odd Lots

On Bloomberg’s Odd Lots podcast Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets, and economics. Join the conversation every Monday and Thursday. 

On Bloomberg’s Odd Lots podcast Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets, and economics. Join the conversation every Monday and Thursday.

49: The Man Who Wants to Better Trading by Slowing It

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/446c839a-fd2d-4726-8ede-ae27005ef189/transcript

One of the extraordinary elements of the civil unrest taking place in Iran is that it's almost impossible to know what's going on. There's a virtually complete news blackout, in part because of the government shutting down the internet. What this means in practice right now is that someone on the outside can't even know for sure whether the Iranian stock market has been trading lately, or whether it's been halted. And then of course there are bigger questions about the scale of the civil unrest and the government's response to it. On this episode of Lots More, we check in with recurring guest Maciej Wojtal, the founder and CIO of Amtelon Capital, one of the few international firms to have direct exposure to Iranian stocks. We talk about what he's been able to ascertain about the protests, why they're taking place, Iran's ongoing financial crisis, and why this round of civil unrest is different from before.

READ MORE: How Iran Sanctions and a Currency Crash Triggered Mass Protests

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One of the extraordinary elements of the civil unrest taking place in Iran is that it's almost impossible to know what's going on. There's a virtually complete news blackout, in part because of the government shutting down the internet. What this means in practice right now is that someone on the outside can't even know for sure whether the Iranian stock market has been trading lately, or whether it's been halted. And then of course there are bigger questions about the scale of the civil unrest and the government's response to it. On this episode of Lots More, we check in with recurring guest Maciej Wojtal, the founder and CIO of Amtelon Capital, one of the few international firms to have direct exposure to Iranian stocks. We talk about what he's been able to ascertain about the protests, why they're taking place, Iran's ongoing financial crisis, and why this round of civil unrest is different from before. READ MORE: <a href="https://www.bloomberg.com/news/articles/2026-01-14/iran-protests-how-inflation-and-a-currency-crash-fueled-unrest?utm_medium=referral&amp;utm_source=podcast&amp;utm_campaign=odd_lots&amp;utm_content=article">How Iran Sanctions and a Currency Crash Triggered Mass Protests</a> <a href="http://bloomberg.com/subscriptions/oddlots" data-link-cookie="1" data-destination="http://bloomberg.com/subscriptions/oddlots">Subscribe to the Odd Lots Newsletter</a> Join the conversation: <a href="https://discord.gg/oddlots" data-destination="https://discord.gg/oddlots">discord.gg/oddlots</a>

Lots More on the Protests and Financial Crisis in Iran

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/64b23f78-7816-4c55-b471-b3d30161f15c/transcript

One thing we can all agree on is that demand for energy, and in particular electricity, is growing by leaps and bounds. But past that, there is going to be a debate about who is best positioned, and who will really make money from this trend. Will it be companies digging up raw commodities? Will it be equipment companies? Will it be pipelines? Will it be utilities? On this episode of the podcast, we speak with Tyler Rosenlicht, a Senior Vice President Cohen & Steers. He is a portfolio manager for Global Listed Infrastructure and the firm's head of Natural Resource Equities. We talk about the general ideas behind infrastructure investing, how it works, how it's changed, and how he thinks about the ongoing boom in energy demand.

Read more:
JPMorgan, Brookfield See Deals Revival for Clean Energy Assets
Mideast Energy Fund Plans PE Push to Drive Wave of Deals

Only http://Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at  bloomberg.com/subscriptions/oddlots

Subscribe to the Odd Lots Newsletter
Join the conversation:discord.gg/oddlots

One thing we can all agree on is that demand for energy, and in particular electricity, is growing by leaps and bounds. But past that, there is going to be a debate about who is best positioned, and who will really make money from this trend. Will it be companies digging up raw commodities? Will it be equipment companies? Will it be pipelines? Will it be utilities? On this episode of the podcast, we speak with Tyler Rosenlicht, a Senior Vice President Cohen &amp; Steers. He is a portfolio manager for Global Listed Infrastructure and the firm's head of Natural Resource Equities. We talk about the general ideas behind infrastructure investing, how it works, how it's changed, and how he thinks about the ongoing boom in energy demand.
Read more: <a href="https://www.bloomberg.com/news/articles/2026-01-15/jpmorgan-brookfield-see-deals-revival-for-clean-energy-assets?utm_medium=referral&amp;utm_source=podcast&amp;utm_campaign=odd_lots&amp;utm_content=article" data-prosemirror-content-type="mark" data-prosemirror-mark-name="link">JPMorgan, Brookfield See Deals Revival for Clean Energy Assets</a> <a href="https://www.bloomberg.com/news/articles/2026-01-14/mideast-energy-fund-plans-pe-push-to-drive-wave-of-deals?utm_medium=referral&amp;utm_source=podcast&amp;utm_campaign=odd_lots&amp;utm_content=article" data-prosemirror-content-type="mark" data-prosemirror-mark-name="link">Mideast Energy Fund Plans PE Push to Drive Wave of Deals</a>
Only <a href="http://Bloomberg.com" data-inline-card="" data-card-data="">http://Bloomberg.com</a> subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at&nbsp; <a href="https://www.bloomberg.com/subscriptions/oddlots?in_source=oddlotspodcast" data-prosemirror-content-type="mark" data-prosemirror-mark-name="link">bloomberg.com/subscriptions/oddlots</a>
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How to Make Money From the Booming Demand for Energy

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/e2eb0241-445f-4b67-bc9b-b3d3003d192e/transcript

Even before Trump's victory in 2024, it was becoming clear that the Fed would come under political pressure like never before. The first year of the new administration bore that out. Not only had Fed Chairman Jerome Powell come under tremendous pressure over interest rate policy and the cost of office renovations, Trump has tried to fire Fed Governor Lisa Cook. The Cook case will soon be argued in front of the Supreme Court, but now we have another earthquake. On Sunday night, the news broke that Powell had been served with a subpoena from the DOJ, raising the potential for criminal charges. Powell himself, who has assiduously tried to avoid the controversy, blasted the move as a form of revenge for the administration's displeasure with his interest rate policy. So where does this leave us now? On this episode, we speak with Lev Menand, a professor at Columbia Law School at the author of the Fed Unbound. He explains where things sit not with Fed independence, and why the DOJ's role here takes the fight to a whole new level.

Read more:
Dollar Drops Most in Three Weeks as Fed Gets Subpoenas
‘Sell America’ Trade Is Revived by Trump’s Latest Fed Attack

Only Bloomberg - Business News, Stock Markets, Finance, Breaking & World News subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at  bloomberg.com/subscriptions/oddlots

Subscribe to the Odd Lots Newsletter
Join the conversation:discord.gg/oddlots

Even before Trump's victory in 2024, it was becoming clear that the Fed would come under political pressure like never before. The first year of the new administration bore that out. Not only had Fed Chairman Jerome Powell come under tremendous pressure over interest rate policy and the cost of office renovations, Trump has tried to fire Fed Governor Lisa Cook. The Cook case will soon be argued in front of the Supreme Court, but now we have another earthquake. On Sunday night, the news broke that Powell had been served with a subpoena from the DOJ, raising the potential for criminal charges. Powell himself, who has assiduously tried to avoid the controversy, blasted the move as a form of revenge for the administration's displeasure with his interest rate policy. So where does this leave us now? On this episode, we speak with Lev Menand, a professor at Columbia Law School at the author of the Fed Unbound. He explains where things sit not with Fed independence, and why the DOJ's role here takes the fight to a whole new level.
Read more: <a href="https://www.bloomberg.com/news/articles/2026-01-12/dollar-drops-most-in-nearly-three-weeks-as-fed-gets-subpoenas?utm_medium=referral&amp;utm_source=podcast&amp;utm_campaign=odd_lots&amp;utm_content=article" data-renderer-mark="true" data-is-router-link="false" data-testid="link-with-safety">Dollar Drops Most in Three Weeks as Fed Gets Subpoenas</a> <a href="https://www.bloomberg.com/news/articles/2026-01-12/fed-subpoenas-revive-sell-america-trade-on-autonomy-concerns?utm_medium=referral&amp;utm_source=podcast&amp;utm_campaign=odd_lots&amp;utm_content=article" data-renderer-mark="true" data-is-router-link="false" data-testid="link-with-safety">&lsquo;Sell America&rsquo; Trade Is Revived by Trump&rsquo;s Latest Fed Attack</a>
Only <a href="http://bloomberg.com/" data-testid="inline-card-resolved-view">Bloomberg - Business News, Stock Markets, Finance, Breaking &amp; World News</a> subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at&nbsp; <a href="https://www.bloomberg.com/subscriptions/oddlots?in_source=oddlotspodcast" data-renderer-mark="true" data-is-router-link="false" data-testid="link-with-safety">bloomberg.com/subscriptions/oddlots</a>
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The Fight Over Fed Independence Just Got Taken To a Whole New Level

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/525659ba-2032-4b74-9914-b3d00146a20c/transcript

49: The Man Who Wants to Better Trading by Slowing It

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