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This Week on The Compound
This Week on The Compound
This week on TCAF, Josh and Michael spoke with Bryn Talkington, Managing Partner at Requisite Capital Management, and Athanasios Psarofagis, ETF Analyst at Bloomberg Intelligence. They discussed the Fed’s next move, the big tech unwind, and how to invest in small caps. (Listen)
INSIDE THE COMPOUND
This week Bill Ackman’s plan to launch a multi-billion closed-end fund with 2% annual management fees, to boot, was put on hold. He bet that his Twitter fame would translate into billions of permanent capital. Fame is a tricky thing, though. Josh Brown, writing in his blog, looks at fame and influence in the world of finance. He writes:
People can name long lists of political figures, athletes, musicians, actors comedians and even podcasters. Young people can name social media stars and streamers. These are the celebrities that are influential to them. Very few people can name famous or notable people in the financial sector. Which, frankly, is how most successful people working in finance would prefer it.
OUTSIDE THE COMPOUND
The exchange-traded fund wasn’t designed with bonds in mind. Over time bonds have carved out a big part of the ETF market. So much so, that it has changed how the bond market itself operates. This week, Robin Wigglesworth and Will Schmitt, writing at FT Alphaville, take a deep dive into the changing bond ETF market. They write:
The overall result is that more parts of the fixed income market are beginning to resemble the stock market — what some insiders have dubbed its “equitisation”. The implication is that the bond market will also become increasingly prone to whiplash moves, and — in extremis — stomach-churningly fast crashes.
MERCH
A one-of-a-kind finance-themed Hawaiian shirt just dropped! It is a collab between The Compound and Tropical Bros. The best thing is that 10% of all sales will be donated to No Kid Hungry.
COMING SOON
It’s time to break out the charts! Next week on TCAF, Josh and Michael will be joined by JC Parets of All Start Charts and Joe Fahmy of Zor Capital.
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