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The Trump administration says it wants to kick start private investment in Venezuela now that it's captured Maduro. And Ukraine is eventually going to need a massive rebuild. But what is it like for a big multinational t
One of the mega-themes of the economy is that the big keep getting bigger. You see it in technology, where the megacap software companies are outperforming their smaller peers. And you see it in finance, where the world'
We talk all the time about private credit. And we increasingly talk about it from the perspective of the AI buildout, and how all of these datacenters are being financed. But why did the space get so big in the first pla
In the AI industry, there's always a hot new thing. First it was ChatGPT. Then it was the image generators. There was the DeepSeek moment. In the latter half of last year, everyone was excited about how good Google's Gem
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
For a long time, you could make plenty of money and sleep easy at night with a simple 60/40 portfolio. You put 60% of your money in stocks and 40% in Treasuries. The stocks generally went up. The Treasuries cushioned you
In some sense, the arrest of Maduro is nothing unusual. For over 200 years, the US viewed the entirety of the Western hemisphere as its legitimate domain for intervention. And of course, there's a long history of the US
There are a bunch of questions right now about the future of Venezuela, and one of the big ones is what's going to happen to its circa $170 billion pile of debt. Some investors have been snapping up defaulted Venezuelan
Every year, regional Federal Reserve banks host some of the most substantive — and under-the-radar — events in the central banking world: research conferences. Behind the formal papers and dense macro models,
When the Odd Lots team was down in Washington DC earlier this year, we had a phenomenal meal at a restaurant called Butterworth's. As it turns out, the restaurant is one of the hottest hangouts for the MAGA crowd, with S
Hello Odd Lots listeners! As we take a break for the holidays we'd like to take a moment and bring you an episode by one of our sister shows here at Bloomberg Podcasts, Merryn Talks Money . In this special two-part
If you're a high-skilled tech worker, then potentially huge fortunes await you working for a startup or one of our booming AI giants. But the government needs these types of workers too. And the government is not set up
You probably already know someone doing peptides — the amino acids that form the basis of popular new drug treatments like Ozempic and Wegovy. Today there are peptides meant to help with everything from weight loss
When we think about America’s economic rise, we usually point to agriculture or the industrial revolution. But in the early days of colonization, one of the biggest economic drivers wasn’t crops or factories
Most people think of venture capital as funding software startups or, these days, some new AI tool. But VC also plays a major role in developing new medicines and treatments. That’s the world of D.A. Wallach &mdash
Data centers are weird things. They're partly real estate assets. They're partly extremely advanced technological products. And they have to find a way to consume a tremendous amount of electricity from the grid -- or th
Excel. If you work in corporate America, that word either inspires laser-focused productivity or pure dread. Over the last 40 years, the spreadsheet software has become synonymous with the best — and worst &
Max Levchin probably knows as much about online payments as anyone. He was part of the original " PayPal mafia " before going on to become co-founder and CEO of Affirm, the $22 billion player in the Buy Now, Pay Later in
There have been some wobbles in credit markets lately. It hasn't been too dramatic, but we've had some blowups, leading Jamie Dimon to speculate about the presence of other "cockroaches" lurking in the industry. But what
There's an incredible amount of focus on the grid this days. That's notable because for a long time, the grid was hardly of any interest. For years, load growth was flat. It was a sleepy market. And in fact, because it w
Some people pay off their credit cards at the end of each month. They use the cards as a payment method and collect points and rewards, and never have to pay any interest. For other users, interest can be sky high &mdash
The US and China are in a "Thucydides Trap," whereby the risk of war is heightened when an established power is threatened by a rapidly rising power. This is the framework that's been popularized by Graham Allison, the D
You're not imagining it. This really is a moment of tremendous historical change. Various forces are all aligned right now and reshaping how the world operates. That's the view of Ray Dalio, the founder of Bridgewater Ca
In early November, it looked like almost a sure thing that the Federal Reserve would cut rates. Since then, the odds have come in dramatically, as a number of FOMC members have been talking about persistent inflationary
In many respects, AI technology is already mind-blowing, and can perform many tasks far better than the average person. And yet by and large, its impact has been hard to detect. We haven't seen some huge labor displaceme
AI wasn't much of a topic in the 2024 election. But it will almost certainly be big in 2028, and probably even the 2026 midterms. There are concerns about all the money being spent and whether a federal backstop or bailo
Stocks are overpriced. Bonds are overpriced. And private assets are a powder keg. This is the view of Jeffrey Gundlach, the founder and CEO of DoubleLine Capital. As part of our 10-year anniversary celebration of the Odd
In recent weeks, there's been renewed anxiety about the sustainability of the AI boom. This is partly due to comments from OpenAI CFO Sarah Friar about a possible role for a government backstop in the AI infrastructure b
The Odd Lots podcast has been around for 10 years. Unfortunately, markets have gotten less rational over the same time frame. At least this is the contention of Cliff Asness, the co-founder and CEO of AQR Capital Managem
AI has made a lot of people fabulously wealthy. But sorry, it's probably not going to be the thing that makes you rich. And if history is any guide, we don't even know who the real AI winners are going to be. That's the
Land is a weird asset. We need it to be affordable because everyone needs somewhere to live. But for many people, real estate is also their biggest store of wealth — a kind of national piggybank that fuels both per
Protein seems to be everywhere these days, with brands from Starbucks to Pepsi jumping on the trend. But the obsession with protein may have started earlier — with a humble dairy product that defied the broader dec
If the government were open, we'd be getting a jobs report today. But as it is, we're in this blackout of official economic data. That's unfortunate, because the economy is already in a very confusing spot, and so any ad
The news business isn't a great one these days. At least for a lot of legacy outlets (newspapers, cable networks, print magazines etc.), the Internet has obliterated their business model. And now AI is coming along and t
Unfortunately, it doesn't seem as though you can get great stock picks just by going to ChatGPT and asking it to recommend some investments. And yet financial firms of all sorts — including trading firms — sa
You hear a lot about AI safety, and this idea that sufficiently advanced AI could pose some kind of threat to humans. So people are always talking about and researching "alignment" to ensure that new AI models comport wi
If you go out to eat at a restaurant, whether it's a fast food chain or a Michelin-starred bistro, there's a good chance the ingredients on your plate came from the same source. Sysco is the dominant foodservice distribu
The 2010s saw economic weakness across Europe's periphery. Countries like Greece, Spain, Italy, and so forth were the sites of so much stress. In the 2020s, however, it's reversed. The periphery is holding up well, but t
Gold has been surging. Risky assets (with a few minor hiccups) have also been surging. And yet, central bankers (most notably the Fed) are in rate cutting mode. Why is this? And what kind of risks are being conjured up?
Earlier this year, we traveled along with San Francisco Fed President Mary Daly on a trip to Alaska. You may remember the episodes we did with Mary at the time, as well as business and other leaders in the state. But we
It's nothing new for the US government to use public money to support private American companies. The Biden administration, via CHIPS and the Inflation Reduction Act, was aggressive about using loans and grants to accele
Argentina is getting bailed out again, with $40 billion of help from the Trump administration. Of course, this is a recurring phenomenon for Argentina, and this time it's happening under the free market-oriented Javier M
Almost everyone is talking about us possibly being in a bubble. Regardless of how AI investment ultimately pan out, there is an incredible amount of retail speculative mania in the air. So, how does this environment comp
These days, there's a non-stop drumbeat of concern that China and its dominant companies will eat America's economic lunch, so to speak. Of course, this isn't the first time in our history that there were worries about a
What changed between 2019 and 2025? Why are interest rates so much higher? Why does it seem virtually unfathomable that the Fed will return to ZIRP anytime soon? Why do investors expect this rate cut cycle to be so shall
Money has been flowing into the AI space, with billions pouring into GPU clusters, data centers, gas turbines, and the infrastructure needed to train and deploy bigger and bigger models. So what comes next? On this episo
We're used to talking about the Federal Reserve changing "benchmark interest rates." But the mechanics of how the central bank actually tightens or loosens policy are a lot more nuanced. For years now, the Fed's been doi
CME Group is one of the oldest exchanges around, tracing it's history all the way back to the late 1800s, when it specialized in agricultural commodities. It's best known for things like futures and interest rate swaps t
For over 20 years, people have been talking about prediction markets or event markets are the next big thing. But mostly, with some niche exceptions, they haven't taken off, in part due to regulatory constraints. But now
Don Wilson has built a career diving into some of trading’s thorniest problems, including figuring out ways to trade new and niche markets. Now, the founder and CEO of DRW has his sights set on the GPUs powering AI