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James van Geelen, founder of Citrini Research, scored big when he made his weight loss drug-related investments last year. He was also early into artificial intelligence investments, making bets on picks and shovels play
Joseph Stiglitz is a Nobel Prize-winning economist known for his groundbreaking work on information gaps and risk-taking in markets. But he's recently turned his attention to supply chains and how to make them more resil
Modern Monetary Theory has gained prominence over the last several years by offering an alternative view on the constraints to fiscal policy. The basic gist is that the size of the deficit is not per se problematic. What
Lumber prices have tumbled dramatically in recent weeks, with benchmark futures falling about 20% in the past four months alone. What's more, this is happening at the height of the summer homebuilding season, when there
There aren't many advanced manufacturing success stories in Latin America. And globally, there aren't many companies that can build commercial planes at scale. Yet somehow, one of the world's leading jet makers is Brazil
Brad Jacobs has made a career of starting, consolidating, and growing whole industries. He did a trucking company. He did a warehouse company. He has a freight brokerage. He created an equipment rental company. His new v
Does it feel to you like society has gone crazy? Well, you're not alone. There's a general view that all around the world, in the realms of politics, culture, business, and so forth, a lot of people are losing their mind
Neil Dutta, the top economist over at Renaissance Macro, has generally been sunny and optimistic about the economy over the last four years or so. But now he's warning of a possible mistake by the Federal Reserve. In his
From cars to toys to clothes, we're just used to seeing the label "Made In China" on all sorts of things. But how did China become a go-to destination for manufactured goods in the first place? Who actually recognized th
The stock market has had a torrid run in 2024 despite the fact that interest rate cuts haven't materialized in the way people had expected at the start of the year. In fact, outside of a few blips here and there (like sp
Everyone knows that the AI boom is built upon the voracious consumption of chips (largely sold by Nvidia) and electricity. And while the legacy cloud operators, like Amazon or Microsoft, are in this space, the nature of
Virtually everyone, across the ideological spectrum, has the view right now that it's too hard to build things (or get things done generally) in America. New infrastructure is thwarted by red tape and permitting. New hou
Throughout history, financial markets have struggled with the issue of borders. Borders create friction, add cost and cause headaches for anyone who wants to spend money across them. On top of that, various national curr
For much of this year, the S&P 500 has marched steadily higher while measures of stock market volatility, like the VIX, have stayed pretty low. But looking at the headline index only tells you part of the story. Bene
A few lucky people have made generational wealth trading the ups and downs of the crypto market. And some finance professionals have shifted gears to focus primarily on the space. But what is it like to actually trade th
There's been a huge change in the market for nickel, which goes into everything from electric vehicles to steel. Indonesia has grown to absolutely dominate production and now provides more than 55% of the world's supply.
The company that Elon Musk is most known for, obviously, is Tesla. It's been extraordinarily successful and made him one of the richest people in the world. But his true love may be SpaceX, the rocket company whose techn
The rise of GLP-1 drugs, like Ozempic, is a potentially existential threat to the makers of salty, sugary, high-calorie snack foods. But it's obvious that the gigantic food industry will search out ways to adapt. So what
Kyla Scanlon has a great way of identifying the economic vibes, building up a massive TikTok following with videos about the Federal Reserve, inflation, markets, and more. She also coined the viral term 'vibecession' to
Last year was a bad one for the US wind power industry, with lots of cancelled projects, writedowns, and an overall reassessment of how the math behind these mega projects might shake out in an era of higher interest rat
What's the price of a hamburger? Well, it depends. Are you making the purchase on the spot? Did you order ahead using an app? Are you a frequent customer of the burger chain? With inflation having surged at the fastest r
Over the past two weeks, two New York City office buildings have become major talking points in the market for commercial real estate. Troubles at 1740 Broadway led to the first loss in the AAA-rated tranche of a commerc
The modern electricity grid is a weird thing. The delivery of electricity is a natural monopoly, for kind of obvious reasons. Despite that, we still attempt to shoehorn market-based mechanisms into the system. Many utili
The cost of solar has been plunging for years. Everyday there's a new headline about growing installation of renewables or batteries, or some other sign of progress when it comes to decarbonization. But there's still a l
The gambling industry in the US has exploded in recent years, and suffused every aspect of sports consumption. You can bet on who will win or lose just about any game in the world from your phone. In fact, you don't even
Remember GameStop? The poster-child for 2021's memestock mania recently surged almost 5x in a matter of days — and it was all catalyzed by a few tweets from Keith Gill, aka "Roaring Kitty." So what's going on? How simila
The Department of Justice and the Federal Trade Commission have taken an invigorated approach to antitrust under the Biden administration, targeting companies for labor issues like non-competes, in addition to looking at
Multi-strategy hedge funds are all the rage right now. But there's also a lot of confusion about what exactly they do, and how the the so-called "pod shops" differ from more traditional hedge funds. In this episode of th
Copper has long been touted as a big winner from the world's drive towards electrification. All those electric vehicles and new grids need lots of the metal to work. At the same time, since it takes years for new copper
Pierre Andurand made his name trading oil and other energy-related assets, but wild swings in the price of cocoa have recently lured the founder of Andurand Capital Management into a new market. He bet on cocoa earlier t
This week, we'll get fresh inflation data in the US, which will inevitably feed into the Federal Reserve's future decisions to raise, hold or lower benchmark interest rates. Meanwhile, the Biden administration is prepari
There's a lot going on in currency markets and global trade at the moment. The Japanese yen has been falling, even after authorities seemed to intervene to try to arrest the slide. Meanwhile, weakness in the Chinese yuan
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 w
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
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
Breakthroughs in generative AI have created enormous opportunities for humans to learn from computers. We can use them to explain the news, understand historical concepts, fix our coding errors, and so forth. But of cour
In the past, the most expensive housing in any major city would be connected in some way to the economics of the city itself. If the general market was weak, the high end was also weak. If the general market was strong,
When most investors think of due diligence, they think of sifting through years of financial statements and crunching numbers to better understand a company's potential. Not many people think about interrogating senior e
AI is all the rage right now. There are billions of dollars now flowing into the space, with large and small companies all competing to create the next big thing. But in addition to lots of money, building new AI models
Over the last year or so, probably every venture capitalist has become interested in artificial intelligence. So people are still figuring out what types of business models actually work, and who will end up making money
At the end of 2023, there was a lot of optimism that the US economy was on that glide path to a soft landing. But at least in the first quarter of this year, inflation has come in hotter than expected. So is this just a
On June 2, 2024, Mexicans will go to the polls to elect a successor to current President Andrés Manuel López Obrador. His chosen successor, former Mexico City Mayor Claudia Sheinbaum, is the odds-on favorite. But what is
Over the last few years, users of the popular ADHD drug Adderall have been frustrated by regular shortages in getting their prescriptions filled. Various regulatory and supply chain factors have contributed to the inabil
For years and years, utilities in the US haven't seen much growth in electricity demand. The economy is generally mature and has been able to grow even without needing much more electrical power. But all that's changing
In 2021 and 2022, the US economy experienced historic shortages of many different goods. All kinds of consumer, construction, and high-tech components were tough to come by. Since then, most of these shortages have eased
A bunch of companies saw their share prices boom during the pandemic. Peloton surged because no one could go to gyms. Zoom jumped because no one could go to the office, and so on. Since then, many of these companies have
US imports from Mexico are surging. Former President Trump's tariffs on China, as well as the renegotiated USMCA treaty, have encouraged supply chains to move to North America. Then Covid hit, and that re-energized inter
Steve Eisman became a famous name in the investing world due to his prescient bet against the US housing market before 2008, which led to his starring role in Michael Lewis' book The Big Short. These days his investing a
When Savita Subramanian, head of US equity strategy at Bank of America, raised her outlook for stocks at the end of last year, there was a lot of skepticism that equities could go any higher. The S&P 500 had already
When it comes to the collapse in office real estate, there's a lot of focus on who owns the debt, and what kind of pain must eventually be realized by someone. But there may be an even deeper challenge for big cities lik