Every industry is trying to figure out just how AI or Large Language Models can be used to do business. But Bridgewater Associates, the world's largest hedge fund, has already been at it for a long time. For years, it has explored AI and adjacent technologies in order to analyze data, test theories, develop novel investment strategies and help its employees make better decisions. But how does it actually use the tech in practice? And what's next going forward? On this episode, we speak with co-CIO Greg Jensen about both the possibilities and limitations of these advances. We also discuss markets and macro, and why he believes that investors are still too optimistic about the Federal Reserve's ability to get inflation back to target. 

Every industry is trying to figure out just how AI or Large Language Models can be used to do business. But Bridgewater Associates, the world's largest hedge fund, has already been at it for a long time. For years, it has explored AI and adjacent technologies in order to analyze data, test theories, develop novel investment strategies and help its employees make better decisions. But how does it actually use the tech in practice? And what's next going forward? On this episode, we speak with co-CIO Greg Jensen about both the possibilities and limitations of these advances. We also discuss markets and macro, and why he believes that investors are still too optimistic about the Federal Reserve's ability to get inflation back to target.

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.

Bridgewater's Greg Jensen on AI, Inflation and What Markets Are Getting Wrong

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/33372447-ffe8-4b9d-8a2a-b031012c3f03/transcript

Hugh Hendry says the world is brimming with risks right now, from Chinese deflation, to the strength of the US dollar, to unrealized losses in US Treasuries held by the bank. In the new episode of the podcast, we speak with the former manager of the Eclectica hedge fund, who now writes and operates under the Acid Capitalist branding. Hendry, who now resides in St. Bart's, says that the most important story in the world, and for as long as he's been in markets, has been the rise of China, which he sees as inflating asset values all around the world. Specifically, he sees a broken model, in which the country's GDP grows rapidly, but domestic investments and household income don't keep up. He warns of a risk of a yuan devaluation, as the country seeks to maintain its export drive which, he warns would create "Mad Max" deflation. He also talks about the "terrifying" drop in the Japanese yen, and the unusual situation by which the US is one of the world's growth leaders. 

Hugh Hendry says the world is brimming with risks right now, from Chinese deflation, to the strength of the US dollar, to unrealized losses in US Treasuries held by the bank. In the new episode of the podcast, we speak with the former manager of the Eclectica hedge fund, who now writes and operates under the Acid Capitalist branding. Hendry, who now resides in St. Bart's, says that the most important story in the world, and for as long as he's been in markets, has been the rise of China, which he sees as inflating asset values all around the world. Specifically, he sees a broken model, in which the country's GDP grows rapidly, but domestic investments and household income don't keep up. He warns of a risk of a yuan devaluation, as the country seeks to maintain its export drive which, he warns would create "Mad Max" deflation. He also talks about the "terrifying" drop in the Japanese yen, and the unusual situation by which the US is one of the world's growth leaders.

Hugh Hendry on the "Terrifying" Yen Move, and Risk of "Mad Max" Deflation

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/7662d5d1-0dac-4477-a835-b16a01026235/transcript

The Federal Reserve has a lot of official statistics it can look at to try and gauge the state of the overall economy. But there's also room for incorporating on-the-ground anecdotes and real-time color. When it comes to collecting this kind of information, Richmond Fed President Tom Barkin might be the biggest road warrior on the FOMC. In mid-April, Odd Lots tagged alongside Barkin as he undertook one of his many trips around his district, speaking to local businesses about what they're seeing in terms of inflation, consumer demand, and the labor market. We traveled with him to North Carolina, making stops in Mount Airy, Winston-Salem and Yadkinville, to better understand what it is that a regional Fed president actually does when he's collecting info on the ground, and how it informs his thinking. It's a rare inside look at the day-to-day work of a Fed president. In this episode, you'll learn what kind of questions Barkin is asking businesses. And you'll learn about some local businesses themselves — everything from carport manufacturing to producing thermal underwear to spinning yarn. We also take a look at some of the big picture challenges facing America's smaller towns, including shrinking populations, a shortage of housing, and the scarcity of essential services like childcare.

The Federal Reserve has a lot of official statistics it can look at to try and gauge the state of the overall economy. But there's also room for incorporating on-the-ground anecdotes and real-time color. When it comes to collecting this kind of information, Richmond Fed President Tom Barkin might be the biggest road warrior on the FOMC. In mid-April, Odd Lots tagged alongside Barkin as he undertook one of his many trips around his district, speaking to local businesses about what they're seeing in terms of inflation, consumer demand, and the labor market. We traveled with him to North Carolina, making stops in Mount Airy, Winston-Salem and Yadkinville, to better understand what it is that a regional Fed president actually does when he's collecting info on the ground, and how it informs his thinking. It's a rare inside look at the day-to-day work of a Fed president. In this episode, you'll learn what kind of questions Barkin is asking businesses. And you'll learn about some local businesses themselves — everything from carport manufacturing to producing thermal underwear to spinning yarn. We also take a look at some of the big picture challenges facing America's smaller towns, including shrinking populations, a shortage of housing, and the scarcity of essential services like childcare.

What a Fed President Hears When He Goes on the Road

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/33dbf852-acc3-4d02-aa27-b165014bde7c/transcript

In 2022, Congress passed the CHIPS Act, which set aside tens of billions of dollars in loans and grants in order to encourage companies to build new semiconductor fabs in the United States. We're still very early in the process. It's going to be a long time before we know if the US will become a major player again in the production of advanced chips. But the process is well underway and the bulk of the awards have been officially announced, with much of the money going to Intel, Samsung, TSMC, and others. So how did the grants get allocated — and what's next? On this episode of Lots More, we speak with Bloomberg News reporter Mackenzie Hawkins on the latest developments.

In 2022, Congress passed the CHIPS Act, which set aside tens of billions of dollars in loans and grants in order to encourage companies to build new semiconductor fabs in the United States. We're still very early in the process. It's going to be a long time before we know if the US will become a major player again in the production of advanced chips. But the process is well underway and the bulk of the awards have been officially announced, with much of the money going to Intel, Samsung, TSMC, and others. So how did the grants get allocated — and what's next? On this episode of Lots More, we speak with Bloomberg News reporter Mackenzie Hawkins on the latest developments.

Lots More on How CHIPS Act Money Got Awarded

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/2cc904d6-e7fe-45b0-b847-b164015bdf57/transcript

Bridgewater's Greg Jensen on AI, Inflation and What Markets Are Getting Wrong

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