From Argentina to Chile to Lebanon, we're seeing a high degree of political and economic uncertainty among emerging market economies. On this week's Odd Lots podcast, we speak with Paul McNamara, a veteran fund manager at GAM Investments. McNamara explains why this moment is so turbulent, and what it will take to settle these economies down.

From Argentina to Chile to Lebanon, we're seeing a high degree of political and economic uncertainty among emerging market economies. On this week's Odd Lots podcast, we speak with Paul McNamara, a veteran fund manager at GAM Investments. McNamara explains why this moment is so turbulent, and what it will take to settle these economies down.

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

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

Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Join the conversation 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, Thursday, and Friday.

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

Why So Many Emerging Markets Are Blowing Up Right Now

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/4b9ceb9a-f938-4c64-8b4c-ae270051674d/transcript

We know that companies around the world are investing heavily in AI. So intense is the race to win the AI battle, that it feels like there's almost no upward limit on how much you could spend on it. So how are CFOs thinking about capex in the AI age? In this episode we speak with Winston Cheng, CFO of Chinese-founded multinational tech firm Lenovo. Lenovo is known for its personal computers, especially its Thinkpad line of laptops, but they are making a push to move beyond its role as one of the leaders in personal computing, integrating AI agents into their devices and investing in building out an “AI Cloud” infrastructure alongside Nvidia. We talk to Cheng about how Lenovo's allocating capital during one of the biggest capex booms in history. We also discuss involution and market competition in China, and how Lenovo's been adapting its supply chain to tariffs.

Read more:
AI Sales Start to Justify Data-Center Spending Boom, Report Says
Anthropic Accuses Alibaba of ‘Illicitly’ Accessing AI Models

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

We know that companies around the world are investing heavily in AI. So intense is the race to win the AI battle, that it feels like there's almost no upward limit on how much you could spend on it. So how are CFOs thinking about capex in the AI age? In this episode we speak with Winston Cheng, CFO of Chinese-founded multinational tech firm Lenovo. Lenovo is known for its personal computers, especially its Thinkpad line of laptops, but they are making a push to move beyond its role as one of the leaders in personal computing, integrating AI agents into their devices and investing in building out an &ldquo;AI Cloud&rdquo; infrastructure alongside Nvidia. We talk to Cheng about how Lenovo's allocating capital during one of the biggest capex booms in history. We also discuss involution and market competition in China, and how Lenovo's been adapting its supply chain to tariffs.
Read more: <a href="https://www.bloomberg.com/news/articles/2026-06-25/ai-demand-begins-to-justify-massive-cost-of-data-center-buildout?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">AI Sales Start to Justify Data-Center Spending Boom, Report Says</a> <a href="https://www.bloomberg.com/news/articles/2026-06-24/anthropic-accuses-alibaba-of-illicitly-accessing-its-ai-models?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">Anthropic Accuses Alibaba of &lsquo;Illicitly&rsquo; Accessing AI Models</a>
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How Lenovo's CFO Is Allocating Capital During One of History's Biggest Booms

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/b1fa9369-e153-4071-8b62-b47400f4a30f/transcript

The Strait of Hormuz has (mostly) re-opened! Crude prices are still up since the start of the war with Iran, but popular predictions earlier this year of $200-a-barrel Brent didn’t pan out. Why is that? We last talked to Rory Johnston, the founder of the Commodity Context newsletter, at the start of the conflict. And in that conversation he said that the Strait’s closure would lead to $200 oil if it persisted for any length of time. Today, he returns to tell us what he’s learned about the oil market since then. He explains the various factors that kept a lid on prices, including some re-routing, Trump jawboning, and (crucially) surprise import reductions from China.

Previous: Rory Johnston on How Oil Could Surge to Over $200 a Barrel

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

The Strait of Hormuz has (mostly) re-opened! Crude prices are still up since the start of the war with Iran, but popular predictions earlier this year of $200-a-barrel Brent didn&rsquo;t pan out. Why is that? We last talked to Rory Johnston, the founder of the Commodity Context newsletter, at the start of the conflict. And in that conversation he said that the Strait&rsquo;s closure would lead to $200 oil if it persisted for any length of time. Today, he returns to tell us what he&rsquo;s learned about the oil market since then. He explains the various factors that kept a lid on prices, including some re-routing, Trump jawboning, and (crucially) surprise import reductions from China.
Previous: <a href="https://bit.ly/44sr0if">Rory Johnston on How Oil Could Surge to Over $200 a Barrel</a>
Only Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox, plus unlimited access to the site and app. <a href="https://www.bloomberg.com/subscriptions/oddlots?in_source=oddlotspodcast" data-link-cookie="1" data-destination="https://www.bloomberg.com/subscriptions/oddlots?in_source=oddlotspodcast">bloomberg.com/subscriptions/oddlots</a>

Rory Johnston on Why His $200 Oil Prediction Didn't Turn Out Right

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/774dd005-8b31-4ba1-9549-b474011e8753/transcript

The last time the World Cup came to the US was 1994. Before then, the World Cup was an enormously popular event with surprisingly limited commercial significance; the 1990 tournament in Italy, for instance, lost money for broadcasters. But that all changed in 1994, when American companies sought to make their mark in the form of advertisements and sponsorships: firms like McDonalds, Mastercard, and General Motors saw the potential to reach a global audience through one of the world's most watched sports events. Today, we speak with Joey D'Urso — a freelance sports journalist and author of the recent book More Than A Shirt: How Football Shirts Explain Global Politics, Money and Power — about the 1994 World Cup and this year's competition, which is being held jointly, by the US, Canada, and Mexico. We also talk about other surprising stories of corporate and geopolitical influence in the world of football.

Read more:
Unilever, Pepsi Tap Celebrities, Players During World Cup
Mexico’s Sheinbaum Invites Merlín the Duck to National Palace Amid Soccer Craze

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

The last time the World Cup came to the US was 1994. Before then, the World Cup was an enormously popular event with surprisingly limited commercial significance; the 1990 tournament in Italy, for instance, lost money for broadcasters. But that all changed in 1994, when American companies sought to make their mark in the form of advertisements and sponsorships: firms like McDonalds, Mastercard, and General Motors saw the potential to reach a global audience through one of the world's most watched sports events. Today, we speak with Joey D'Urso &mdash; a freelance sports journalist and author of the recent book More Than A Shirt: How Football Shirts Explain Global Politics, Money and Power &mdash; about the 1994 World Cup and this year's competition, which is being held jointly, by the US, Canada, and Mexico. We also talk about other surprising stories of corporate and geopolitical influence in the world of football.
Read more: <a href="https://www.bloomberg.com/news/articles/2026-06-23/world-cup-ads-prove-bonanza-for-networks-tricky-for-marketers?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">Unilever, Pepsi Tap Celebrities, Players During World Cup</a> <a href="https://www.bloomberg.com/news/articles/2026-06-22/sheinbaum-taps-viral-duck-s-star-power-amid-world-cup-frenzy?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">Mexico&rsquo;s Sheinbaum Invites Merl&iacute;n the Duck to National Palace Amid Soccer Craze</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>
<a href="http://bloomberg.com/subscriptions/oddlots" data-renderer-mark="true" data-is-router-link="false" data-testid="link-with-safety">Subscribe to the Odd Lots Newsletter</a> Join the conversation: <a href="https://discord.gg/oddlots" data-renderer-mark="true" data-is-router-link="false" data-testid="link-with-safety">discord.gg/oddlots</a>

How the 1994 World Cup Transformed the Business of Football Forever

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/c2695185-bd74-4f28-9efa-b47300f4a97a/transcript

Why So Many Emerging Markets Are Blowing Up Right Now

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