The Future Proof Festival takes place right on the beach in Huntington Beach, California. Thousands of registered investment advisors from all over the country come to talk shop, take pitches from vendors, eat tacos, drink beer, and listen to a concert from Third Eye Blind. On this Lots More, we talk with Sam Ro, the author of the Tker.co newsletter about the RIA scene, financial media, behavioral finance, the Fed, and the business of musical artists playing at conferences. 

The Future Proof Festival takes place right on the beach in Huntington Beach, California. Thousands of registered investment advisors from all over the country come to talk shop, take pitches from vendors, eat tacos, drink beer, and listen to a concert from Third Eye Blind. On this Lots More, we talk with Sam Ro, the author of the Tker.co newsletter about the RIA scene, financial media, behavioral finance, the Fed, and the business of musical artists playing at conferences.

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.

Lots More With Sam Ro on the Booming World of RIAs

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/4841f005-d0eb-4084-b087-b1f00108b0f7/transcript

Right now, industrial policy is back in vogue in the US. The administration is making an effort at reviving specific sectors, notably in areas of clean energy and semiconductors. But despite all of the money being spent on subsidies of various sorts, there's no guarantee it will actually work. If it were easy, every country would do it. So what are the conditions that make it possible? And how can it go sour? On this episode of the podcast, we speak with Vivek Chibber, a professor at NYU, and the author of several books including Locked In Place, which compares the development experience of South Korea and India. We talk about the interaction of economic policy and domestic politics, as well as the specific political conditions that need to be in place that allow the government to provide "gifts" to companies, and for those gifts to actually turn into leading edge industrial leaders, rather than for that money to simply go into the pockets of investors. Among the things we discuss are: What industrial policy actually is and what it's going to take for the US endeavors to actually become successful.

Read More:
How Economic Complexity Explains Which Countries Become Rich
Adam Tooze on the Big Misconceptions of the Chinese Economy

Right now, industrial policy is back in vogue in the US. The administration is making an effort at reviving specific sectors, notably in areas of clean energy and semiconductors. But despite all of the money being spent on subsidies of various sorts, there's no guarantee it will actually work. If it were easy, every country would do it. So what are the conditions that make it possible? And how can it go sour? On this episode of the podcast, we speak with Vivek Chibber, a professor at NYU, and the author of several books including Locked In Place, which compares the development experience of South Korea and India. We talk about the interaction of economic policy and domestic politics, as well as the specific political conditions that need to be in place that allow the government to provide "gifts" to companies, and for those gifts to actually turn into leading edge industrial leaders, rather than for that money to simply go into the pockets of investors. Among the things we discuss are: What industrial policy actually is and what it's going to take for the US endeavors to actually become successful.
Read More: <a href="https://www.bloomberg.com/news/articles/2023-08-14/how-tradle-helps-explain-economic-complexity-and-how-countries-become-rich?utm_medium=referral&amp;utm_source=podcast&amp;utm_campaign=odd_lots&amp;utm_content=article">How Economic Complexity Explains Which Countries Become Rich</a> <a href="https://www.bloomberg.com/news/articles/2024-09-12/adam-tooze-on-the-big-misconceptions-of-the-chinese-economy?srnd=oddlots?utm_medium=referral&amp;utm_source=podcast&amp;utm_campaign=odd_lots&amp;utm_content=article">Adam Tooze on the Big Misconceptions of the Chinese Economy</a>

This Is How Industrial Policy Can Go Bad

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/b43ef3ad-b6ba-4afb-b5e7-b1f600e48b62/transcript

These days if you talk to people about the stock market, they might talk to you about the effect of the Fed. Or they'll talk about the Mag 7 and AI capex spend. Or they'll extoll the virtues of passive, low-cost investing. It seems like you hear less and less about the art of security selection: Finding cheap diamonds in the rough that have been overlooked by other investors. But some people are still keeping that world alive. John Rogers is the founder and co-CEO of Ariel Investments, and in his primary mutual fund he invests only in mid- and small-cap companies. Recorded live on stage at the Future Proof Festival in Huntington Beach, CA, we talk about his approach. He explains why he believes value investing still works, and the process he uses to select individual names. We also discuss what he looks for and how he researches stock picks. Among other things, he tells us why he's invested in The Sphere (yes, that Sphere in Vegas) as well as the company that makes the McFlurry machines for McDonald's.

Read More: Stocks, Bonds Trim Declines After Waller Comments: Markets Wrap

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

These days if you talk to people about the stock market, they might talk to you about the effect of the Fed. Or they'll talk about the Mag 7 and AI capex spend. Or they'll extoll the virtues of passive, low-cost investing. It seems like you hear less and less about the art of security selection: Finding cheap diamonds in the rough that have been overlooked by other investors. But some people are still keeping that world alive. John Rogers is the founder and co-CEO of Ariel Investments, and in his primary mutual fund he invests only in mid- and small-cap companies. Recorded live on stage at the Future Proof Festival in Huntington Beach, CA, we talk about his approach. He explains why he believes value investing still works, and the process he uses to select individual names. We also discuss what he looks for and how he researches stock picks. Among other things, he tells us why he's invested in The Sphere (yes, that Sphere in Vegas) as well as the company that makes the McFlurry machines for McDonald's. Read More: <a href="https://bloom.bg/3MTAAC7">Stocks, Bonds Trim Declines After Waller Comments: Markets Wrap</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  <a href="https://www.bloomberg.com/subscriptions/oddlots?in_source=oddlotspodcast">bloomberg.com/subscriptions/oddlots</a>

Ariel Investments' John Rogers on How You Can Still Win With Value Investing

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/42114e29-fa4e-44da-81f8-b1f10124788a/transcript

This week, the Fed cut benchmark rates by 50 basis points. Lower financing costs should be a relief for companies that need to borrow in the form of bonds or loans. But, the weird thing about the previous few years of high rates and high inflation is how much corporate credit has defied expectations. While defaults increased slightly, there wasn’t a huge wave of bankruptcies. And most companies haven’t really had trouble finding financing, with a smorgasbord of options available to them — including from the booming private credit market. So what happens now that the Fed is lowering rates? In this episode, we speak with Danielle Poli, co-portfolio manager of Oaktree’s Diversified Income Fund and a founding member of the firm’s investment committee, about how she sees the next leg of the credit cycle unfolding, and how she decides between a multitude of potential investments in the space.

Related Links:
The Black Hole of Private Credit That’s Swallowing the Economy
The Hottest Way for Banks to Get Risk Off Their Balance Sheets

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

This week, the Fed cut benchmark rates by 50 basis points. Lower financing costs should be a relief for companies that need to borrow in the form of bonds or loans. But, the weird thing about the previous few years of high rates and high inflation is how much corporate credit has defied expectations. While defaults increased slightly, there wasn’t a huge wave of bankruptcies. And most companies haven’t really had trouble finding financing, with a smorgasbord of options available to them — including from the booming private credit market. So what happens now that the Fed is lowering rates? In this episode, we speak with Danielle Poli, co-portfolio manager of Oaktree’s Diversified Income Fund and a founding member of the firm’s investment committee, about how she sees the next leg of the credit cycle unfolding, and how she decides between a multitude of potential investments in the space.
Related Links: <a href="https://www.bloomberg.com/news/articles/2024-09-02/how-private-credit-is-swallowing-the-economy?utm_medium=referral&amp;utm_source=podcast&amp;utm_campaign=odd_lots&amp;utm_content=article">The Black Hole of Private Credit That’s Swallowing the Economy</a> <a href="https://www.bloomberg.com/news/articles/2024-08-22/the-hottest-way-for-banks-to-get-risk-off-their-balance-sheets?srnd=oddlots?utm_medium=referral&amp;utm_source=podcast&amp;utm_campaign=odd_lots&amp;utm_content=article">The Hottest Way for Banks to Get Risk Off Their Balance Sheets</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  <a href="https://www.bloomberg.com/subscriptions/oddlots?in_source=oddlotspodcast">bloomberg.com/subscriptions/oddlots</a>

The Next Stage of the Credit Cycle with Oaktree’s Poli

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/67880b6d-ddaa-4e2b-b977-b1ef013b4f75/transcript

Lots More With Sam Ro on the Booming World of RIAs

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