Sosnoff / Ratigan - Truth or Skepticism from tastytrade: Recent Episodes
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Tom Sosnoff and Dylan Ratigan reunite for a weekly podcast, ranting on everything from sports and investing to politics and monetary policy.
President Trump ignited backlash after firing BLS Commissioner Erika McEntarfer in the wake of a disappointing jobs report and major downward revisions. This week, Tom and Dylan unpack the political and economic fallout of targeting nonpartisan data officials — and what it means for the integrity of government-reported economic stats.
From headlines to hype, AI is everywhere—and so is the fear that it's coming for your job. It's faster, cheaper, tireless. But can it truly replace human workers? On this episode, Tom and Dylan dig into the real implications of AI in the workforce. What happens to education when the return on investment starts to shrink? And how do we prepare for a job market shaped by machines? It’s a candid look at where we’re headed as AI grows smarter—and what that means for all of us.
This week, Tom and Dylan unpack a troubling trend: media figures who speak out—especially against Trump—are increasingly facing lawsuits. What does that mean for free speech? They dive into the ripple effects of Stephen Colbert’s firing and ask: was it really about money, or something deeper?
Markets sold off quickly Wednesday morning following reports President Trump was planning to fire Fed Chairman Jerome Powell. A couple hours later, Trump reversed course, with caveats. Financial markets continue to wrestle with tension between Trump and Powell and how that will ultimately play out. Tune in as Tom and Dylan discuss the chaos that hit markets this morning.
It sounds unthinkable—America defaulting on its debt. Yet here we are, seriously debating what was once considered absurd. This week, Tom and Dylan unpack the politics, precedent, and potential fallout of a U.S. default. With Trump’s past brushes with bankruptcy in focus, they ask: is this just financial brinkmanship, or something deeper?
This week, Tom and Dylan unpack the concept of soft power—how goodwill, credibility, and trust shape influence. They reflect on the original vision behind tasty: offer free, fact-based research to build trust and earn loyalty—an approach that mirrors how nations gain global standing. From students choosing to study in America to consumers buying U.S. goods, soft power has long been a quiet force behind leadership on the world stage. But are we losing our edge? Tom and Dylan explore where the U.S. might be getting it wrong—and what’s at stake when influence starts to fade.
This week, Tom and Dylan unpack the surprising twist in the Nippon Steel–U.S. Steel merger. The U.S. government has secured a powerful new “G” share, giving it unprecedented control over key domestic operations. What does this mean for the future of American industry—and for an administration once seen as pro-business and anti-regulation? Tune in as they explore the fine print, the political fallout, and what it signals about the evolving role of government in corporate America.
When a business or country is run by someone surrounded by sycophants, you lose the adults in the room. Without dissenting voices, it's hard to properly think through issues. Ultimately, it leads to protests in the streets, like we're seeing in LA and Chicago. On this week's episode, Tom and Dylan want to know, where did the adults go?
It wasn't long, but it was intense. The bromance seems to be over between Trump and Musk. The question is, what will the fallout be? Who keeps the house and is Stephen Miller's wife leaving with Elon? Tune into this week's episode as Tom and Dylan discuss the end of the Elon/Trump era.
The last decade has seen a political bifurcation of the United States. We've endured a pandemic. Despite all that, equity markets seem unfazed. The question becomes, what, if anything, can bring down the stock market? Tune into this week's episode as Tom and Dylan discuss the strength in U.S. equity markets and if they're impervious to all threats.
The corruption has hit a new high. Or low. Investments in construction projects. Meme coins. Airplanes. The White House may need a new color because the innocence has been sacrificed in the name of personal reward by its occupant. Tune into this week's episode as Tom and Dylan discuss the dissent of U.S. ideals into personal deals.
The crypto space is still in its early stages, as users and investors try to understand its purpose and long-term potential. That process isn’t helped when the President of the United States launches a meme coin with no intrinsic value—except for the potential financial gain of himself and his family. Recent reporting from The Wall Street Journal and Financial Times reveals who benefited from the meme coin launches by President Trump and the First Lady. On this week’s episode, Tom and Dylan examine what these developments mean for the credibility of financial markets.
Earlier this week, reports emerged that Amazon planned to display tariff costs directly to consumers. But after backlash from the White House, the company swiftly reversed course. Meanwhile, a new Executive Branch club—backed in part by Don Jr.—made headlines. For $500,000, members gain access to exclusive events with wealthy elites and figures from the Trump Administration. We’re witnessing an administration that consistently blurs the lines of propriety, and many are left wondering: when will the pushback come—and from where? All this and more on this week’s episode.
Alphabet and Meta are facing regulatory consequences for becoming monopolies. It's not something we see happen often in the U.S. and it begs the question, is breaking a company up because it became too big a good thing or bad? On this week's episode of Truth or Skepticism, Dylan and Tom discuss, plus Dylan shares a story about the time he pissed off Bill Gates.
Nations have different types of power. One is economic. Another is influence or soft power that comes from goodwill. We attract the best and brightest from around the world to go to our schools. We draw in capital because our markets are the best and most liquid. But as Chairman Powell said today in Chicago, the impact of the current economic policy could put all that at risk. On this week's episode, Tom and Dylan discuss the continued fallout from tariffs and retribution.
Tariffs on. Tariffs off. They didn't even last a full 24 hours before Trump gave most countries a reprieve but raised tariffs on China to 125%. Markets rallied on the news and hopes that a disaster was averted. But is this type of movement good for a market? Is it good for trade? Tune into this week's episode as Tom and Dylan discuss the latest in the trade war.
When you change economic policy as dramatically as we have in the last two months, there are bound to be unintended consequences. What are those consequences? Time will tell. But already we're seeing the European Union discuss improving their financial markets so they're more accessible. Germany is rearming. The consequences of trade policies are leading to places we may not have expected. Tune in as Tom and Dylan discuss the unintended consequences of trade policies.
MicroStrategy was the first company to change their business model to rely on investing in bitcoin. Yesterday, GameStop became the second. At the same time, the Trump family is planning to launch a stable coin. We're seeing undue risk with assets and a threat to market integrity all at the same time. On this week's episode, Tom and Dylan cover this and more.
When Russia invaded Ukraine, there was a brain drain from Russia. The best and brightest left for better opportunities. The U.S. was a beneficiary of that just as we've benefitted from kids from other countries, where little academic opportunity existed, coming to the U.S. But now we're seeing the government pull back on funding and threatening other schools that graduates won't be hired if curriculums aren't in line with political objectives. Tom and Dylan discuss the repercussions of this on this week's episode.
Over the past year, crowdsourcing has increasingly replaced facts backed by proof, while regulatory enforcement has declined. This shift allows for new ideas but also threatens the integrity of institutions built on truth. In this episode, Tom and Dylan explore the value of truth, the dangers of subjective facts, and the consequences of lacking regulatory oversight.
The U.S. is the financial epicenter of the world. A big reason for that is the political role we have historically held. The current administration seems willing to abdicate our leadership role in the world in order to focus more internally. But if that happens, what does it mean for financial markets?
Can you put a successful CEO in the White House and get a good outcome? It's a fair question. And, it's one with which we're experimenting right now. The jury is out at the moment, but the early returns seem questionable. Maybe it's just early mistakes that will bring learning experiences and better outcomes. Time will tell. Tune in for this week's episode as Tom and Dylan talk about running a government vs. running a company.
This administration has too much regulation. This administration has too little regulation. Which administration is just right? That's the question Tom and Dylan are attempting to tackle on today's episode. Markets need regulation to have enough integrity that investors feel confident. But too much regulation and it markets can grind to a halt. Finding the sweet spot is always the challenge. This and more on this week's episode.
How do we define what is ethical and what is corrupt? There are clear lines for solving math problems or questions that rely on agreed upon principles. Artificial Intelligence (AI) can take over those things and do them both better and faster. But what happens if we rely on AI for questions of morality? Can AI handle subjective topics and what is the risk if we rely on it for those things? That and more on this week's episode.
One of the most important aspects of success is being able to tell a great story. Donald Trump is a great storyteller. Whether he's a good politician is open to debate. When success is dependent more on the ability to tell stories than delivering results, does it skew where we place our efforts? Tom and Dylan discuss the importance of being a good storyteller and more on this week's episode.
Are monopolies something we need regulators to break up or can we rely on the marketplace to do it? The answer depends. According to Tom, if the market can maintain its integrity, then the market will draw competitors that prevent monopolies. Tune into this week's episode as Tom and Dylan discuss DeepSeek, market integrity, taxes and disruption.
A free-market economy is reliant upon a competition and ambition. What happens when the playing field tilts, and you need to bow to political powers? It pushes everyone to the same side of the field and instead of competing, they have to align. Can a market economy continue to thrive in that environment? On this week's episode, Tom and Dylan tackle the idea of having to kiss the ring and more.
Fires in LA are still burning, but as we begin looking forward and toward the rebuild, there are important things we need to consider. One is homeowners' insurance. Insurance companies will likely use this catastrophe to charge massive premiums. We also will have a need for labor. Where will that labor come from at a time when we're looking at mass deportations? All that and more on this week's episode.
President-elect Trump nominated Paul Atkins for SEC Chairman. Atkins has previous experience with the SEC during the George W. Bush years. Could this be an opportunity for the SEC make trading more accessible to more people? What would Tom like to see Atkins push for? Also, we're seeing the highest level of CEO turnover that we've ever seen. Is that a function of CEOs being bad at what they do or is it the demand for success is becoming immediate? On this week's podcast, Tom and Dylan discuss SEC opportunities and what makes for a successful CEO.
Is Jake Paul a successful boxer? Or is he a successful promoter? Is Donald Trump a good politician or a successful promoter? It seems the traditional method of becoming successful, which was developing qualifications, has been supplanted by an ability to promote oneself. Whether that is good or not remains to be seen. Tune into this week's episode where Tom and Dylan discuss the path of success and how it's changed.
Earlier this week, The Washington Post decided not to endorse a candidate for president. The Post's owner, Jeff Bezos claimed it was because people don't trust the media. But was the decision actually driven out of a fear of retribution? Have threats against the media already managed to suppress freedom of speech? Tune in as Tom and Dylan discuss the upcoming election and whether endorsements are a casualty of retribution rhetoric.
We're getting to crunch time with elections less than two weeks away. Interest rates are rising. Commodities are rising. Betting markets are saying one thing. What does it all mean? On today's episode, Tom and Dylan discuss what the market may be telling us about the upcoming election.
What makes for a good leader? It's a fair question to ask and election cycles tend to bring that question to the forefront. Whether it's a political leader, business leader, or anywhere else, the process for selecting the next generation of leaders hasn't changed much over the years. Has the gotten us as far as we are or whether we haven't reached our potential is this week's discussion topic. Tune in and listen to what Tom and Dylan think about leadership.
Throughout history, we've experienced periods of exponential growth as a result of technological advancement. AI stands to be the next revolution in growth. Advancement is good. Most of us agree on that. But that also means there will be lost jobs that are taken over by AI. We may not be able to protect the workers, but what is our obligation to the workers? Tune in as Tom and Dylan discuss this and more.
What happens when the messenger lacks credibility? When messengers can't be trusted, the message, not matter how accurate, isn't listened to. At the same times, when we dismiss the message because we don't like the messenger, we harm ourselves. On this week's episode, Tom and Dylan discuss what happens when we dismiss the messenger. Also, should voting be mandatory?
Our society is more polarized than ever. While it's been a growing problem, it has become exponentially worse since social media use grew. How do we get the most out of social media but limit the negative repercussions? Tune into this week's episode as Tom and Dylan discuss the impact of social media on humanity.
Countries around the world have sovereign wealth funds which are used to invest in various industries. That opens the question as to whether or not the U.S. should have its own sovereign wealth fund. On this week's episode, Tom and Dylan debate the pros and cons of a U.S. sovereign wealth fund and whether or not it would help to achieve the economic goals of the nation.
Pavel Durov, the CEO of Telegram was recently arrested on allegations he failed to adequately monitor the illegal activity taking place on the app. According to Facebook, they were asked to throttle certain information during Covid by the government. Should government be allowed to monitor and influence what is and is not posted on social media? Are there limits to the 1st Amendment we need to have in order to protect society or do those limits end up harming? Tune into this week's episode as Tom and Dylan debate this and more.
Video may have killed the radio star, but the internet killed print journalism. Google recently pledged to invest over a hundred million dollars to support journalism initiatives. Is this a good development for journalism or is it a way for Google to further its way into taking over an industry? Tune into this week's episode as Tom and Dylan debate what this move by Google may mean for journalism.
We're all familiar with the pie-in-the-sky promises of political campaigns. There may be no greater oxymoron than, campaign promise. However, while the promises made aren't always kept, campaigns are the one time, every four years, where we have total freedom to explore even the most fringe ideas to address challenges to society. This year, we're hearing talk about capping prices on volatile necessities like groceries. Tune in as Tom and Dylan explore some of the out-of-the-box economic ideas being touted this election cycle.
On Tuesday, Starbucks stock soared 25% on the news it was hiring Chipotle CEO Brian Niccol. The news sent Chipotle lower by nearly 10%. The notional value of the two moves was worth billions of dollars. That's billions with a "B". Is one person, even the CEO, worth that much money to a company? Tune into this week's episode as Tom and Dylan discuss what a CEO is worth.
Who can explain why the market fell on Monday? What about how Kamala Harris became the nominee? People can't seem to move on without a reason as to why something happened. But do reasons always matter? On this week's podcast, Tom and Dylan discuss the need for reasons and if there always is a reason sufficient to satisfy everyone.
Paris is in the spotlight as host of this summer's Olympic and Paralympic games. Over the course of several weeks, countless spectators will visit Paris to watch the games and much of the rest of the world will tune in to watch. It's an amazing opportunity for Paris to show itself off. But is it worth it? The cost to build the facilities. The congestion of additional travelers. It's a substantial investment. Tune into this week's episode to hear Tom and Dylan discuss the Olympics and if hosting is worthwhile.
The events of the last week are enough to last a year. The biggest news was the change at the top of the ticket for Democrats. Was the reason for Biden dropping out so close to the election unforeseen? Or was it done for more nefarious reasons? On this week's episode, Dylan argues Democrats subverted the will of the people by replacing Biden with Harris. Tom, on the other hand, argues it was done out of necessity. This and more on this week's episode.
We haven't seen many heavy selling days this year, making today a bit of an outlier. The question is, what's causing the today's action? Is it as simple as profit taking in what's been a very strong market? Or, with the U.S. election getting closer, are we beginning to see the impact of politics in the market. As platforms and issues become more in focus, markets need to digest what the different outcomes could mean economically. On this week's episode, Tom and Dylan discuss what is behind today's move in the market and what role elections might be playing.
One could argue the country has never put forth two less desirable candidates for president. The divide in politics has never been more polarizing. Turn on any mainstream media and you'd think the end of the world is near. Yet stocks have made 36 new all-time highs this year. How does one rationalize that? Maybe the answer is that markets see something we don't. Tune into this week's episode as Tom and Dylan discuss the disconnect between politics and markets.
When does "talking your book" cross over into stock manipulation? On this week's podcast, Tom and Dylan discuss the recent price action in GameStop and whether or not, Keith Gill (better known as Roaring Kitty) manipulated the stock's price or simply found and exploited a market inefficiency. Does the situation need to be investigated simply to avoid the appearance of impropriety? After all, this situation is taking place at the same time a baseball player was suspended for life after betting a relatively nominal amount of money on games he likely was unable to affect the outcome of. Are we more concerned about baseball's reputation than that of the market? Tune in and find out.
A good job, marriage, 2.5 kids, house, car and a trip to Disneyworld. That was the American Dream. Is it still? Have the things we want out of life changed and with that, has the dream changed? That's fine if that's the case. The deeper question is, has the dream changed because the original dream isn't attainable? Or, has it changed because what we want has changed? This week, Tom and Dylan discuss the proverbial American Dream, what it is and if it's attainable.
We thought the chapter on meme stocks was complete. It was written off as people fed up with being stuck at home from Covid, taking their government checks and bidding up stocks no one was watching. Essentially, it was something that was unlikely to happen under any other circumstances. So, what brought it back this time? Tom and Dylan discuss meme stocks, what allowed them to happen the first time and what the most recent renewed interest might mean.
Tenure is unique to academia. Teachers are afforded protection once granted tenure so they can research and discuss topics that might otherwise jeopardize job security. However, there is an unintended consequence that needs addressing. That is, when teaching jobs are protected, does it end up keeping out fresh blood with new ideas? On this week's episode, Tom and Dylan discuss tenure and whether it functions as intended.
The FTC recently ruled noncompete agreements can no longer be used for employees making less than $151K in non-senior leadership roles. On this week's episode, Tom and Dylan debate noncompete agreements and if they should be used. Is there a case for companies using them after making an investment in an individual? Or does a noncompete just trap people in a job they don't want? Tune into this week's episode and hear Tom and Dylan's respective takes as well as discuss why fewer and fewer companies are opting to go public.
We're unique. Or maybe special is a better way of putting it. Unconventional. We take the other side of what the general public thinks, says or does. It's not just about trading, it's a way of approaching life. Does it offer any advantages? We aren't really sure but it works for us and it's gotten us this far. On this week's episode, Dylan challenges Tom's philosophical approach to trading and life. Also, frankendogs.
Was it a single shooter that killed Kennedy or were there more? What about the moon landing? Conspiracy theories have and always will exist. Improvements in technology mean even the most insane and destructive ideas can reach a wide audience and generate profits. Alex Jones is the poster child for that type of exploitation. At the same time, technology is what allows us to quickly disprove those types of people. On this week's episode, Tom and Dylan discuss conspiracy theories and how they play out in the market.
If Patrick Mahomes were told the most money he could make playing football is $1 million, would he quit? If a net worth limit were imposed, what would be the repercussions? There's an argument to be made that the pursuit of money has diminishing returns. It doesn't lead to greater happiness. It does create wealth inequality and inflation. A new socioeconomic theory is emerging that some sort of net worth limitation may improve society. Does the idea have merit? Tune in to hear Tom and Dylan debate the concept.
Last week, news was made when a quadriplegic man with a chip implanted in his brain allowed him to manipulate the chess pieces on a computer game. Moving the pieces on a chessboard are one thing, but the implications go far beyond games. The potential for what these chips can do is virtually unlimited. That may seem fantastic in some instances, but what are the implications? What kind of personal control would be sacrificed? Tune in this week as Tom and Dylan debate the future of human chipping.
'The Front Page of the Internet' and the potential strengths and drawbacks involved in Reddit's upcoming IPO. On this week's episode, Tom and Dylan debate being bullish on the 'the best social media app, pound-for-pound' and if it's justified bringing new players to the table.
For many college graduates, they enter the workforce and are unable to land a job related to their field of study. The jobs they end up with often pay less. Starting out earning less than their potential sets them on a lifetime path of under-earning relative to their potential. In many instances, these graduates are also saddled with student debt. It's fair to ask if the cost of a college degree is actually worth it. Tom and Dylan debate the value and necessity of a college degree on this week's episode
You have to take risk to make progress or be successful. One of the unique aspects of success in the business community is the reliance it creates. Companies like Facebook, Google and X are incredibly successful in the social media space. The bring a utility billions of people are using. The flip side to that is, if any one of those companies is hacked or goes down for some reason, the repercussions are exponential. It's single point of failure risk. Is that just a function of how success works or is it something deserving of more concern? Tom and Dylan debate that on this week's episode.
When politicians buy options or stock and those trades are profitable, it's natural to wonder if they are trading on non-public information and gaining an unfair advantage. Sure, there's an argument to be made legislators should trade so they understand markets. But if trading and understanding leads to the appearance of impropriety and a corrupt government, is it worth it? Tune into this week's episode to hear Tom and Dylan hash it out.
There is no place in life where being passive leads to success. Finance is no different. However, there are plenty of people out there who will tell you different. Who will tell you it's too hard. Who will tell you financial media is going to hurt your finances. The truth is a little different because at a minimum, financial media generates engagement. It leads to discussion and hopefully, further learning. Tom and Dylan discuss the role of financial media on this week's episode.
Artificial intelligence is improving at a pace we can no longer really control. It's evolution on steroids. Today, there are companies that can use publicly available information to replicate your thoughts. Want to have dinner with John Kennedy? No problem. Want to know what Abraham Lincoln thinks about the state of our politics? Just ask. But what about when replications are used to manipulate? This week, Tom and Dylan discuss the future of AI and if it's a positive development or a threat.
Tom Sosnoff and Dylan Ratigan dissect Elon Musk's recent legal tussle, in which he sought a hefty share compensation from the Tesla board, a request promptly dismissed by a discerning judge. Despite their typical pro-innovator stance, Tom and Dylan agree with the judicial decision. Delve into this episode of Truth or Skepticism to unravel their compelling rationale.
There's a perception out there that individual self-directed investors need to be protected from themselves. Take the recent bitcoin ETFs. Mainstream media is saying individual investors got left holding the bag. But did they? The truth is investors have been long bitcoin for year and used the ETF launches to take profits. Also this week, are regulations simply a derivative of bull and bear markets? Calls for more regulations always come in bear markets. In bull markets, no one wants more regulation but regulations don't have a material effect on bull markets. This week, Tom and Dylan cover bitcoin and regulations.
If you invest in a company because you believe in the founder, are you investing in a company or are you investing in the person? Take it a step further. Imagine that founder comes back and says they have another business idea and want more money or else they'll develop the new business on the side. Is that blackmail or is it a fair ask? That's the current situation with Tesla and Elon Musk. Elon is asking for a new compensation package, otherwise he's going to develop some of his other business ideas, like AI, outside the ecosystem of Tesla. On this week's episode, Tom and Dylan discuss whether Elon is setting a dangerous precedent or if he's entitled to ask for greater compensation.
Is social media really a threat or is it just a scapegoat? Each generation thinks the next generation is being dumbed down by media consumption. Social media is the most recent battlefield. There is evidence that social media is addictive and has the ability to affect decision making as a result of curated feeds. On this week's episode Tom argues social media is no more a threat than television. Dylan has a different take. This and more on this week's Truth or Skepticism.
We all like a good story. There's nothing wrong with that. However, when we trust the story at the expense of the facts, we have a problem. Markets are the ultimate deciders. The information available in a liquid marketplace ultimately gets parsed down, resulting in prices reflective of true value. Outside of the market; however, facts have become disputable. When that happens, it becomes hard to value anything. Check out this week's episode to hear Tom and Dylan discuss the role of facts in the marketplace and beyond.
We're in the midst of a transformative era of personal finance. Whether it's sports betting, crypto, or equity and futures markets, self-directed retail investors are more engaged than ever. Members of the old guard, like Charlie Munger, are passing away after decades long careers that allowed them to achieve guru-like status. The question becomes, who steps into the spotlight once occupied by the Charlie Munger's and Jack Bogel's of the world? Or should the question we ask be, does anyone need to step into the spotlight? On this week's episode, Tom and Dylan discuss the passing of Charlie Munger and if this represents a tipping point where technology and math replace investing gurus.
In a recent Bloomberg column, a startling revelation emerged: Financial institutions now generate a staggering 90% of their new revenue from asset price increases, rather than from attracting fresh clients. The truth is becoming clear – most financial institutions are heavily reliant on the significant 10% of their clients for a whopping 90% of their revenue. Join us this week on "Truth or Skepticism" for an exclusive inside look into how the finance industry is undergoing a profound transformation, breaking away from traditional norms. Discover the seismic shifts that are redefining the landscape of finance
Why are bonds down so much this year when stocks are up? If they’re both looking at the same world, you would think they would trade similarly. On this week’s episode, Dylan asks Tom to explain the discrepancy. Tune in to hear Tom’s explanation and why he thinks Dylan is a victim of the types of questions old men ask.
The most common reason we hear about people being passive investors is fear of risk. Risk of the unknown. However, we’ve dedicated our professional careers demonstrating outlier risk rarely happens and even when it does hit, markets absorb and recover almost immediately. War. Pandemic. Markets have a resiliency that’s a function of their efficiency. The only real threat anymore is size. Sizing inappropriately isn’t risk, it’s a self-inflected wound. Tune into this week’s episode as Tom and Dylan discuss how market efficiency has made it possible to absorb any outlier risk
Scan a handful of newspaper headlines and you might thing the world is worse off than it’s ever been. Now look at a chart of the stock market over the last 9 months and you’ll have a different takeaway. On this week’s episode Tom admits to being “public” and wrong about what the market truly reflects. Also, in light of the strikes in the auto industry, is the private sector actually more efficient than government?
If you have a set of unique talents, there’s no better time to look for a job or ask for better compensation than at a time when the labor pool is nearly empty. Unemployment is well below 4% and the number of people seeking jobs is small. Should we really be surprised labor unions are threatening to strike or already striking? Also, what’s driving the DOJ’s pursuit of Google? Is it because they really feel they have a case or is it just a stickup? All this and more on this week’s episode.
We’re seeing governments intervening in markets on multiple continents. In China, state employees have been banned from using foreign mobile phones. In Europe, the EU enacted new regulations with hopes of spurring competition. Are these moves out of desperation or just low hanging fruit for regulators looking to say they’re fighting for the little guy? Tom and Dylan discuss this and more on this week’s episode.
If financial institutions had a three strike rule, Wells Fargo would have been out a long time ago. The bank is back in the news this week after being fined yet again. Financial reprimands haven’t worked thus far. The question becomes, when do regulators threaten to shut down the bank? On this week’s podcast, Tom and Dylan take a look at the situation with Wells Fargo, the impact of just a handful of stocks on the broader market and what the price of bitcoin might imply.
The housing crises of 2008 was in large part caused by mortgage lenders approving loans to people they knew couldn’t afford them. The lenders then turned around and sold those mortgages to investors in the form of securities. Lenders made money underwriting and money selling securities. But when borrowers defaulted, lenders faced no risk. They had no skin in the game. On this week’s episode, Tom and Dylan discuss the necessity of having skin in the game and how that creates accountability.
There’s a financial graveyard of fund managers who made a right call on the market which paid off huge. Maybe it was the housing crisis. Maybe it was the dot com bubble. When it comes to finance, rock star status can be attained with just one right call. It doesn’t matter if the last right call you made was the 1987 crash. Do it once and suddenly, you’re assumed “to know.” In truth, no one knows anything. Markets are random. But we want to believe someone knows so we can turn our money over to them and feel safe. What drives this and why do we treat people who only made one right call in their career like oracles? Tom and Dylan discuss this and more.
A basic tasty tenant is to put time on your side. Trade small, give yourself time to be right, and recognize that markets are random. Dylan Ratigan wants to understand an irony in that sentiment. Tom has taken big and seemingly risky shots. Is there a flaw in tasty's core tenants? Tom gives some nuance on this week's episode of Truth or Skepticism.
Not since the advent of the internet have people been so excited about a technological development as they are with artificial intelligence (AI). If you buy the hype, AI is the panacea for all our woes. War, inflation, politics, you name it, AI is being hailed as the antidote. To be fair, there are places where AI probably will improve our lives. But those places are where inefficiencies exist. In efficient spaces, like equity markets, can AI make a difference? Tune into this week’s episode to hear Tom and Dylan’s take on AI.
On today’s episode, we’re talking about capitalism and its tradeoffs. Opportunity brings liquidity but it also attracts grifters. Is there a better alternative or are grifters simply a byproduct that can’t be avoided? Also, new legislation is being proposed that would prohibit legislators from owning or trading in stock. Whether or not that makes sense or is just an optics play is open to debate. Tune into this week’s episode for all this and more.
Everyone seems convinced Artificial Intelligence (AI) is coming for their job. But maybe it’s a case of fear being overpriced. AI will have its place but it will also have its limitations. The role of AI; a win for Ripple and crypto; and a Paul Bunion reference. Tune in to this week’s episode to hear Tom and Dylan on all this and more.
Trickle-down economics has been at the center of Republican economic theory since the term was coined back in the early 1980s. It’s predicated on less government involvement. Democrats are promoting what they’re calling Bidenomics, an economic system with a greater role for government programs. It's like a broken record. On this week's episode Tom and Dylan argue why the future of economics is tied to digital assets but no one is talking about it... yet.
If you watch markets long enough, you’ll see how they adapt in near instant time. The occasional black swan event may catch markets off-guard, but things like sanctions over microchips are of no consequence because the market’s already adapted. It makes for great discussion but little economic impact. Also, why Elon owns the electric vehicle market. All this and more on this week’s episode.
Do psychedelics generate alpha? There’s a growing number of CEOs acknowledging the benefits of micro dosing because it helps them to become more creative. What does this mean for corporate America? Tune in to hear Tom and Dylan discuss the idea of micro dosing and also, why markets so easily brushed off a potential coup in Russia.
There was a time when consumers went to different places for different needs. Companies aimed to do one thing and do it well. But in the past decade, that’s changed. Apple, the computer maker, is now a cell phone provider and bank as well. Amazon, the book reseller, is now a pharmacy, grocery store and more. It’s the rise of the everything company. On this week’s episode, Tom and Dylan discuss this evolution and whether or not an aggregation of power is good or bad.
This week, Tom and Dylan fearlessly question the latest craze in virtual reality headsets, daring to challenge the very foundations laid by tech behemoths like Apple. Are these companies out of touch with what consumers really want? Regardless of if they are, where's the trading opportunity behind Apple's latest device?
In this captivating episode of "Truth or Skepticism," hosts Tom Sosnoff and Dylan Ratigan tackle the nature of fraud, examining infamous cases involving Elizabeth Holmes, SBF, and Bernie Madoff. We kick off by dissecting the rise and fall of Elizabeth Holmes, the founder of Theranos, who deceived investors and the public with her grandiose claims about groundbreaking medical technology. Shifting gears, the discussion delves into fraud perpetrated by institutional investors. Is it possible for large-scale financial fraud to be morally justifiable? Tom and Dylan present intriguing arguments challenging conventional notions of right and wrong. They question whether institutional investors, often seen as victims themselves, unknowingly participate in a system that perpetuates morally questionable actions.
This country has a number of legitimate issue in need of addressing. The debt ceiling isn’t one. It’s an annual manufactured story that politicians rely on to get some quality TV time. To not solve the issue would be a self-inflicted wound that doesn’t need inflicting. On this week’s episode, Tom and Dylan cover the downside risk being created where no risk needs to exist and more.
There is a reason corporations are more efficient than politicians. A good CEO knows they doesn’t know everything. They seek out the best of the best as they assemble teams and trust those teams to execute on a vision. In politics, embedded politicians face no consequence for being wrong and they tend to believe they know more than everyone else. Tom and Dylan discuss leadership, what an effective leader looks like and more on this week’s episode.
At what age do most people stop innovating? Maybe it’s time we identify a point at which innovators become a headwind if we want to progress economically, academically, and politically. Too many companies are led by people who are more focused on maintaining the status quo. Is there a way to change that? Tune in and check out what Dylan and Tom have to say.
The reasons regional banks are failing aren’t anyone’s fault but their own. Unless it’s because of someone else. Who is to blame here? Clearly, there was mismanagement. But was there also a political decision made to take advantage of mismanagement in an effort to consolidate the banking system? On this week’s episode, Tom and Dylan discuss who is to blame for the banking crisis and more.
Which came first, the chicken or the egg? The same question or at least a variation of it can be asked in corporate America. Is it the visionaries that move the economy or the private equity speculators that fund the visions? Was Uber truly a revolutionary concept or was it private equity’s willingness to take a shot that led to its success? Tune into this week’s episode as Tom and Dylan discuss this and more.
For an economy to thrive, participants have to maintain faith in it. That includes having faith justice will be doled out equally. Unfortunately, there are ample examples of this not being the case. Wells Fargo and the fake accounts. Fox News spreading lies about Dominion. But when these large companies don’t face criminal justice penalties for their crime, it erodes confidence in the whole system. On this week’s episode, Dylan and Tom discuss this and more.
The robots don’t need to take over the world in some Terminator-like war if the data can make people do the work for them. Most of us think by clicking or not clicking on a link keeps us in control of our decisions. Think again. Apps like TikTok can actually figure out what to serve you based on whether or not you’re typing. The rate at which your thumbs peck out letters or don’t peck them out might be of more value to data collectors than links you click on. But combining the two, clicking on links and then not doing anything for a little bit, may help data aggregators to learn more about you than you know about you.
There’s nothing wrong with pointing out a deficiency in a system. However, when Jamie Dimon says it’ll take a year for the banking system to recover, it’s not because he’s worried. It’s because he sees the opportunity the moment is presenting and he’s trying to capitalize. By questioning the solvency of small banks, he’s effectively saying big banks are the only safe place. Whether or not he’s correct isn’t the point. Instead, it’s just a way to try and grab more market share.
We’ve been living in an era where corporations have largely relied on acquisitions to grow. Cheap money helped make those deals possible. But interest rates are rising and deals are becoming more expensive. Regulators are looking under the hood at business practices as privacy concerns grow. Arguably, most importantly, investment bankers need to justify their bonuses with new deals. With news Alibaba plans to split into six new companies, are we entering an era of divesture? Tune into this week’s episode to hear Tom and Dylan’s take.
It’s a fair question to ask how best to value an asset. Should it be based on present value or future cash flows? Should corporate leaders affect value? Do interest rate policy decisions by the Fed matter? It makes for a great discussion but at the end of the day, there’s no substitute for an efficient market. Markets aren’t influenced by narratives or an agenda. They’re driven by greed and fear. It’s as simple as that. Tune in to hear this week’s episode as Tom and Dylan discuss this and more.
What caused Silicon Valley Bank to implode? Was it as simple as greed, risk, and moral hazard? Was it an oversight failure? Was it the limited revenue streams for banks? Or was it a much more complicated set of circumstances? We can’t solve the problem until we understand what caused the problem. Tune in to this week’s episode as Tom and Dylan discuss what’s happened.
As a country, we place tremendous emphasis on home ownership. But as the cost of buying a home becomes more and more far reaching, we need new ways to afford homes. Last week, Amazon employees found out they can use stock as collateral against a mortgage. Is this a great way to help home buyers or is it a pledge of capital investors don’t fully understand? Tom and Dylan debate this and more on this week’s episode.
Regulators are charged with ensuring fair rules are exercised equally for all participants. In order for evolution and ingenuity to continue, regulators need to evolve. Individual investors are hamstrung from improving their own financial literacy in large part because regulators don’t evolve at a speed equal to the market. On this week’s episode, Tom and Dylan debate the role of regulators and where the balance should be between allowing investors to invest as they see fit and how regulations should support that.
One of the basic aspects of economics is the relationship between price and scarcity. The more scare a commodity, the more valuable it is. Information was once considered the most valuable commodity and those with first access had an advantage. But in a world where information is in abundance yet not verifiable, the value of that information is less. What is of value today is the ability to take action. Tune in as Tom and Dylan debate the value of information and if more information is for better or worse.
The world is moving toward a decentralized financial system. More participants means more liquidity which results in greater opportunity and efficiency. At the same time, regulators are reluctant to embrace this trend. In fact, they seem set in their ways and their ways just so happen to be a drag on improving. Tune into this week’s episode as Tom and Dylan discuss the role regulators do play and the role that perhaps they should play.
In the most simplistic terms, the price of an investment is based on perceived future value. That applies to stocks, art, watches, books, property, and more. We’re trained to think that way and therefore, it should come as no surprise we’re trying to apply that same construct to crypto. Maybe though, because we don’t quite understand just what crypto will eventually become, we can’t apply the same pricing mechanisms. Tune into this week’s episode as Tom and Dylan discuss this and more.
Most of us are predisposed to believe there is someone that knows more than us or can do things better than we can. Save for a few outliers, we’re prone to ceding control to someone else. Traditional finance has exploited that to the tune of a multi-billion dollar industry built around passive investing. For a startup like tasty, attempting to carve out a niche that enables investors to be self-directed, means taking on the predisposition others are more capable and the industrial complex whose entire advertising model is based on furthering that lack of ability. Tune in to hear Tom and Dylan cover this and more.
Is there a better way of taxing? Regardless of what side of the aisle you are on, we all seem to be equally unhappy with the current tax code and how it’s applied. This week, Dylan pushes Tom on upending the income tax and replacing it with a consumption tax. Is that the solution? Tune into this week’s episode to hear Tom and Dylan’s thoughts on fixing the tax code and more.
Doctors go to medical school. Then they do a residency. At a minimum, they spend an additional seven years studying before they can practice. Despite that dedication and the expertise attained, a doctor is no better at picking pharmaceutical stocks than you. Experts in their relative fields are sought out for knowledge and past successes. But according to Tom, an efficient market doesn’t care if you’re an expert, outcomes are going to remain random. Tune in as Dylan picks Tom’s brain on expertise relative to outcomes.
Imagine being back in high school or college and staying up all night trying to get that essay you put off until the last minute done. Now imagine that same situation, telling a computer program to write a 1,000 word essay on the topic and having the paper done before your head hits the pillow. Thanks to ChatGPT, you can do that now. Aside from the questions it brings up about cheating on schoolwork, it puts front and center the debate of what role artificial intelligence should play in our daily lives. Are developments like ChatGPT aiding in cutting corners or is it freeing up people so they can allocate their time in more important areas? Tom and Dylan discuss this and more.
It’s been a brutal year for equities and no stock better exemplifies that than Tesla. Other stocks have been beaten down, but it’s different when the market darling of the last few years gets crushed. When leaders fall, followers question their own ability to survive. If the best of the best are not indestructible, what does that say about your chances? According to Tom, it’s all about how you view risk and limiting exposure.
It used to be that banks had a monopoly on customer information. They see where you spend money and how often. Today, places like Amazon, who know virtually everything about you, and social media companies, who know what you think, arguably have more information than banks. There is a legitimate reason to discuss how this information and the lists those companies can create should be used. Tune in to this week’s episode to hear Tom and Dylan discuss how these lists can be used and whether or not their use should be regulated.
We’ve seen too many examples of what happens when corporate governance fails. The most recent example, Sam Bankman-Fried and FTX. It’s hard enough to get a business started and keep it running. Inadequate corporate governance isn’t sexy but it can be incredibly expensive when not done correctly. Deciding upon a corporate structure with adequate oversight is too often overlooked until something has gone horribly wrong. On this week’s episode, Tom and Dylan discuss how to create the correct governance structure and how to create an effective board of directors.
Fresh on the heels of Powell's rate hike slowdown, Dylan Ratigan and Tom Sosnoff observe its impact on the market. With volatility down, equities up, and the US dollar getting whacked, what's ahead for the rest of the year? What about 2023?
If you’re a consumer of financial news, the crypto space appears toxic at the moment. However, crypto assets are still trading; they still have value. The space isn’t going away but its weaknesses have been exposed. For the firms that survived, this is an opportunity. For regulators, this demonstrates the need to get oversight in place. For investors, this could be the chance for crypto and the firms that support it to prove themselves. On this week’s episode, Tom and Dylan discuss what the FTX fallout means for crypto and what comes next.
It seems like there is a lot of noise, and lately, that noise is getting louder. That noise can serve as a distraction. Whether that noise can have the effect of derailing markets or making them less effective is the subject of this week’s episode. This week it’s Elon and midterms. Next week will bring something else. Dylan’s question to Tom is, what does this mean for the market, if anything?
It seems like there is a lot of noise, and lately, that noise is getting louder. That noise can serve as a distraction. Whether that noise can have the effect of derailing markets or making them less effective is the subject of this week’s episode. This week it’s Elon and midterms. Next week will bring something else. Dylan’s question to Tom is, what does this mean for the market, if anything?
We all have differing opinions on various topics. That’s okay. But when it comes time to make a decision that impacts a broad audience, how should we decide who makes that decision? For many issues, we can allow a market to make those calls. But for some issues, markets just aren’t efficient and people need to be trusted. However, deciding on the deciders is an obstacle, especially if we lack faith in anyone at any step in the process. This week, Tom and Dylan tackle decision infrastructure and what lies at its foundation.
We all have differing opinions on various topics. That’s okay. But when it comes time to make a decision that impacts a broad audience, how should we decide who makes that decision? For many issues, we can allow a market to make those calls. But for some issues, markets just aren’t efficient and people need to be trusted. However, deciding on the deciders is an obstacle, especially if we lack faith in anyone at any step in the process. This week, Tom and Dylan tackle decision infrastructure and what lies at its foundation.
With the midterm elections rapidly approaching, it’s understandable to contemplate if there will be any market agitation left in its wake. Financially speaking, however, it’s fair to wonder how these elections became such bloated media spectacles that rival even the Super Bowl. Sit down with Tom and Dylan as they discuss just that, then dive head first into improving the two-party system, vetting for better candidates, and the (de)evolution of the modern-day politician.
With the midterm elections rapidly approaching, it’s understandable to contemplate if there will be any market agitation left in its wake. Financially speaking, however, it’s fair to wonder how these elections became such bloated media spectacles that rival even the Super Bowl. Sit down with Tom and Dylan as they discuss just that, then dive head first into improving the two-party system, vetting for better candidates, and the (de)evolution of the modern-day politician.
35 years ago today was the crash of 1987. If you were at a doctor, in a meeting, or in school, chances are you didn’t know what was happening until later that day because we didn’t have phones or instant access to information. That lack of instant information also meant if you were the subject of an unfavorable news story, it was nearly impossible to escape that story. Today, politicians, CEOs, and whoever can flood social media to change the narrative when they need or want to do so. That instantaneous transmission of news has changed the trust factor, but is it for the better or worse? Instant access ensures we know what is going on, but does it also desensitize us? On this week’s episode, Tom and Dylan discuss the implications of information dissemination and how it’s affected our perceptions and accountability.
35 years ago today was the crash of 1987. If you were at a doctor, in a meeting, or in school, chances are you didn’t know what was happening until later that day because we didn’t have phones or instant access to information. That lack of instant information also meant if you were the subject of an unfavorable news story, it was nearly impossible to escape that story. Today, politicians, CEOs, and whoever can flood social media to change the narrative when they need or want to do so. That instantaneous transmission of news has changed the trust factor, but is it for the better or worse? Instant access ensures we know what is going on, but does it also desensitize us? On this week’s episode, Tom and Dylan discuss the implications of information dissemination and how it’s affected our perceptions and accountability.
The purpose of capitalism, at its core, is to facilitate opportunity. Help money find its way to ideas that can offer the best return at the most reasonable level of risk. But in today’s world, we have competing definitions of what capitalism should be. Understanding it and what ultimately drives capitalism is the focus of this week. Tune in as Tom and Dylan discuss who plays the biggest role for capitalism to be successful and who doesn’t.
The purpose of capitalism, at its core, is to facilitate opportunity. Help money find its way to ideas that can offer the best return at the most reasonable level of risk. But in today’s world, we have competing definitions of what capitalism should be. Understanding it and what ultimately drives capitalism is the focus of this week. Tune in as Tom and Dylan discuss who plays the biggest role for capitalism to be successful and who doesn’t.
We live in a world where we rely on free markets for accurate price discovery. Fair value is the price point at which buyers and sellers are willing to meet. But is there a moral line depending on the circumstances? If a hotel room usually costs $400 a night but after a hurricane where all the houses are gone, they can charge $4000 a night, should they? What about following a plane crash and people sell out of panic? Should buyers come in well below where price was just before the crash and take advantage? The line of morality isn’t always clear if you’re an opportunist. On this week’s episode, Tom and Dylan discuss the moral ambiguity in opportunism.
We live in a world where we rely on free markets for accurate price discovery. Fair value is the price point at which buyers and sellers are willing to meet. But is there a moral line depending on the circumstances? If a hotel room usually costs $400 a night but after a hurricane where all the houses are gone, they can charge $4000 a night, should they? What about following a plane crash and people sell out of panic? Should buyers come in well below where price was just before the crash and take advantage? The line of morality isn’t always clear if you’re an opportunist. On this week’s episode, Tom and Dylan discuss the moral ambiguity in opportunism.
Opportunity is in the eye of the beholder. Some people run away from risk out of fear while others see an opportunity in that fear. When markets start falling, most investors become hesitant. They see the sky falling. Others, however, ask how much more the sky can possibly fall before it starts going back up? Risk perception is what makes a market. In this week’s episode, Tom and Dylan discuss contextualizing risk, reward, and more.
On the back to the Fed decision to raise interest rates, Tom breaks down why knowing in advance what the Fed would say didn’t matter. From there, Tom and Dylan take on whether or not companies have to become monopolies in order to survive. It isn’t about dominating a specific business vertical anymore, it’s about dominating a sector, like how Amazon dominates in the retail space. If you don’t grow your monopolistic advantage, can you survive? Tune into this week’s episode with Tom and Dylan
Here we go again with another FED announcement! It's all over the news in all its hyped-up glory. Inflationary costs for every single product we use to live. From groceries to car loans. Does the FED price the markets, or are they just chasing the markets and then setting their interest rates accordingly? Dylan wants to know, but Tom is not giving him any slack. The market prices itself, not the FED. Tom and Dylan debate this topic and more on today's Truth or Skepticism.
Is there ever a time to make a big change? Equally important, is there ever a time to not make a big change? With big change comes big risk. On this week’s episode, Tom and Dylan debate the risk of big changes at the wrong time, if such a thing exists. Are the risks and methodology for when to make big changes different for the private sector versus the public sector?
For many of us, it feels the world spins faster. Sure, a day still lasts 24 hours, but how much happens inside those 24 hours has increased. Therefore, it’s a fair question to ask, if we are doing more in the same period of time, are we open to more outlier risk? Or, is the rate of risk still the same but the magnitude of the risk has changed? On this week’s episode, Tom and Dylan discuss outlier risk, if it’s changed and how we can think about what those risks truly mean.
For many of us, it feels the world spins faster. Sure, a day still lasts 24 hours, but how much happens inside those 24 hours has increased. Therefore, it’s a fair question to ask, if we are doing more in the same period of time, are we open to more outlier risk? Or, is the rate of risk still the same but the magnitude of the risk has changed? On this week’s episode, Tom and Dylan discuss outlier risk, if it’s changed and how we can think about what those risks truly mean.
Is student loan forgiveness ultimately going to fall on taxpayers? One side of the aisle would have you believe so. What about when President Trump lowered taxes on wealthy individuals? That same side of the aisle was noticeably exuberant. The issue isn’t so much student loan forgiveness or tax cuts, the problem is a broken system that we fail to fix. We conveniently triage it during election cycles, but we refuse to make the fundamental changes needed. Tune into this week’s episode as Tom and Dylan get into a heated debate on this topic and more.
When we think of engaged employees, we think of what makes a company successful. Its value is seen in terms of a positive. But when we lose engagement, what does that mean? How do you measure it? What is its cost? Zoom and remote work have undoubtedly hurt creativity in many instances, but it also kept companies going during a pandemic. We triaged the pandemic; however, there is a risk in making changes to accommodate the pandemic as a new normal. In this week’s episode, Tom and Dylan discuss the threat of lost engagement.
Warren Buffet pays less in taxes than his assistant. A kid in college that will go on to become an investment banker and a kid that will become a teacher pay the same amount for their education but their expected earnings are not remotely close. There is little or no financial incentive to fill the most important roles a society needs to improve itself. Is it a question of misplaced values on who makes what or is it a misaligned economic system that incents resources in the wrong direction? Tom and Dylan dig in on this and more.
We want to believe our morals lead the way. The truth, however, is when it comes to making money, we’re willing to sacrifice our morals in the name of returns. Taking a stance on moral issues, whether they be social, political, or something else seems straightforward enough. But what happens when that moral stance impedes our financial wellbeing? In this week’s episode, Tom and Dylan discuss whether the ends justify the means. This is an episode you don’t want to miss!
Tom and Dylan take the larger case for whether the financial systems in place are structurally sound, going all the way back to the housing and stock market crash of 2008 and 2009. Lending companies went unchecked giving people with poor credit, mortgages. Loans that predictability went into default. Instead of addressing the problem, the Fed flooded the markets with free money. Something that the markets enjoyed for 10 years. Tom disagrees because aside from what the Fed decides to do, markets are cyclical. Unlimited capital pull funds business development and innovation. They land on the broken corporate tax code. No private equity firm or venture capital firm cares about a good idea, according to Tom. The debate continues on today’s Truth or Skepticism.
The U.S. dollar is trading incredibly strong relative to other currencies. Just recently, for the first time in twenty years, the dollar and the euro traded at parity. What is driving that? Has there been a fundamental and structural change in the world? Or, is it just an asset trading at an extreme? On this week’s episode, Tom and Dylan debate what’s behind the dollar’s strength.
Today’s CPI number has everyone worrying about inflation and how high the Fed will raise rates when they meet later this month. But if you look at the bond market, interest rates have been coming down since the last Fed meeting. What accounts for the disconnect? Also this week, the implications of the Euro and U.S. dollar trading at parity for the first time in 20 years. Check out this week’s episode with Tom and Dylan.
What is the point of a sanction? Arguably, it’s to elicit a change in behavior via financial pain. Administrations throughout time have used sanctions with the most recent example being sanctions against Russia. However, instead of weakening Russia, the ruble is as strong as it’s been in 5 years. China and India have stepped in to fill the oil export gap left by Western Europe. Worldwide, oil prices are significantly contributing to inflation. So what is the point of sanctions if the country being sanctioned is thriving and the rest of the world is hurting? Or is there more to it than that? Check out this week’s episode to hear Dylan and Tom debate the effects of sanctions, the state of crypto and more.
We’re undergoing a revolution of sorts. Between the after effects of an administration that clearly tried to subvert democracy and recent Supreme Court rulings that have added to polarization, we’re in the midst of a profound period in our nation’s history. Can we undergo such tests to our system and still maintain our leadership role in capital markets? It’s a fair question to ask at what point you may sacrifice markets because credibility is being tested. On this week’s episode, Tom and Dylan dig on what the future might look like.
Inflation runs in cycles. At some point, it heats up and needs cooling until it cools too much and needs heating. How do we solve for that? The Fed reacts to historical data and makes rate adjustments after the fact. As a result, the Fed is always chasing its tail which keeps the same interest rates cycle problems from ever being solved. Maybe it’s time we start looking at inflation through a real-time lens and changing how we address inflation. Tom and Dylan discuss inflation and how it might better be managed on this week’s episode.
Crypto asset prices have been crushed. Crypto based companies, like Coinbase, are being hurt in the process. Is the crash in crypto prices a result of bad companies and bad technologies? Or, was crypto a victim of a frothy market where desperate alpha seekers unfairly bid up prices beyond what was reasonable? Tom and Dylan discuss this, the Fed’s interest rate increase, and more on this week’s podcast.
Is the SEC about to take it too far? Probably, maybe, but being too restrictive on a free market system ultimately limits access to the self-directed investor. The problem is the big-name hedge fund managers and investment agencies are rarely in the game for the best interest for the customer. There is a misalignment of the service side versus the principal side. This problem remains largely unresolved to this day. Access needs to be realigned to even the playing field for regular Joe trader. On this week’s episode, Tom and Dylan take on regulatory entities, the SEC announcement and how it is going to impact access for the self-directed trader.
We can debate the need to go to college and what the value derived is worth. On this week’s episode, Tom and Dylan debate the cost of college and how to make it more affordable. Dylan advocates for education caps on the cost a school can charge. But what happens when the cost of running the school is less than what’s being charged? Instead, perhaps we can align the cost of an education with expected earnings. Tune in to hear Tom and Dylan take on this hot button issue.
No one can consistently time markets which is why buying low and selling high doesn’t work. It’s why investors are panicking now. They didn’t have the foresight to sell at the top or at least acknowledge markets can come down. Social media companies in particular have enjoyed a run of ever increasing valuations. Today, investors are panicking as to whether they should hold on or sell. What caused this and how does it end. Tune in to hear Tom and Dylan discuss.
For the last year plus, we’ve heard repeatedly about a Great Resignation. It seemed the power dynamics shifted from management and ownership to labor. Demand was so extreme that laborers could demand wages and/or accommodations that might not otherwise be able to request. But in the span of just the last couple weeks, the pendulum swung back away from labor. Whether it’s inflation or a loss of productivity, companies are back in the driver’s seat in their relationship with labor. Did laborers squander an opportunity? Tom and Dylan discuss on this week’s episode.
Equity markets are taking a beating taking crypto down with them. Is this the end of crypto or just growing pains? How do you look at the crypto segment of the market when valuations are being slashed violently? On this episode, Tom and Dylan discuss what’s going on in markets with a focus on crypto and crypto related stocks.
Markets were expecting the Fed to raise interest rates 50 basis points today and that’s what they got. But for traders, the half point hike was a foregone conclusion. Did the Fed squander an opportunity? Are asset prices, which have been under pressure all year, still frothy? On this week’s episode, Tom and Dylan discuss the influence of the Fed relative to markets and current market prices relative to the economy.
The old playbook was amass a lot of money through creating a successful business then spend it on houses, boats, planes or a sports team. But to the new and the wealthiest of the wealthy, that’s 20th century wealth. 21st century wealth is about creating rockets but even that’s not enough. So now the crown jewel of the wealthy is more esoteric and less tangible. It’s buying portions of the internet.
Nothing lasts forever. Markets create behemoth companies but at some point, disruption comes along like a tsunami. Case in point, Netflix stock is down over 35% today. Is it over for Netflix? Probably not. But is it a sign the disruption is beginning? That’s probably a more legitimate concern. We never think things will change much until they do. Sometimes it takes a long time, like with Netflix. Other times it may happen more quickly, like the value of a Jack Dorsey tweet in the form of an NFT. Disruption, evolution, call it what you will. Change is a constant. Tom and Dylan discuss this idea on this week’s episode.
Let’s begin with agreeing those willing to take risk are the people most likely to be rewarded. It should work that way. So long as that continues, there’s a positive drift to evolution and success. For those that take risk and succeed, there’s an inherent responsibility to honesty and integrity so that others can continue the positive drift. On this week’s episode, Tom and Dylan discuss this balancing act and how it can be good or taken advantage of.
What is the value of fundamental analysis? There was a time when domain expertise and an understanding of industries mattered. But as markets have evolved and become both more liquid and efficient, that domain expertise has lost value. In fact, if you side with Tom, you believe fundamental analysis only exists to protect against litigation. Is he right? Tune in and hear why Dylan pushes back on that idea.
There is a massive humanitarian crisis taking place in Ukraine. Talk of World War III is rampant. Yet equity markets, which initially sold off, are not far off all time highs. The ruble seems to have regained 50% of the value it initially lost. Geopolitically, it’s tough to think of a worse time in the last 30 years. If you just look at markets though, you’d have no idea anything was wrong anywhere. What’s the reason behind that and is it sustainable? Tune in to hear Tom and Dylan debate this and more.
Decentralized is arguably the biggest buzz word being tossed around right now. It’s what Web 3.0 is all about. We’re moving on from static data delivery and large companies crunching data to users owning their own data. It has implications in every facet of life, including finance, both in terms of infrastructure investments and the ways in which we will transact commerce in the future. How will this all shake out? Where does the Metaverse factor in? Dylan and Tom discuss this and more on this week’s episode.
What happens when the collateral accepted by a bank against a loan losses its value? If you’re a European bank, it’s a question you have to be asking, especially if you’re been accepting Russian stocks as collateral. When we create money based on future expectations of value, we create risk. The risk is baked into the equation. But when the risk is greater than anyone anticipated, models fail and bad things can happen. Are European banks in danger because of the amount of Russian stock they’ve accepted as collateral? Tom and Dylan discuss this and more.
What happens when the collateral accepted by a bank against a loan losses its value? If you’re a European bank, it’s a question you have to be asking, especially if you’re been accepting Russian stocks as collateral. When we create money based on future expectations of value, we create risk. The risk is baked into the equation. But when the risk is greater than anyone anticipated, models fail and bad things can happen. Are European banks in danger because of the amount of Russian stock they’ve accepted as collateral? Tom and Dylan discuss this and more.
No one hated Michael Jordan for mastering basketball, other than the teams he dominated. Citadel did something similar in market making. They figured out how to make money buying retail customer orders. In the process, they reduced trading costs for retail traders. They improved markets. But they made the cardinal sin of making too much money and once you do that, we have a tendency to believe you must be doing something nefarious; like how Air Jordan’s made Michael jump higher. Maybe instead of looking for what’s wrong with payment for order flow, we should be applauding how ingenuity is benefitting market participants. This and more on this week’s episode.
Russia’s invasion of Ukraine has created a humanitarian crisis. No country wants to risk a nuclear holocaust by getting militarily involved. Instead, a nuclear financial bomb was dropped on Russia in the form of sanctions. By imposing those sanctions, crypto has been a beneficiary as it’s proven itself immune from geopolitics. What does this mean for the future? Did Russia ultimately give crypto the catalyst needed to move from speculative asset to currency? If so, will that also mean future sanctions will prove difficult to impose if crypto supplants the U.S. dollar as the world’s reserve currency? This and more on this week’s podcast.
During Covid, volatility futures peaked in the 80s. Today, with Russia on the precipice of invading Ukraine, volatility is 70 – 75% below those peaks. Does that mean the Russia/Ukraine situation is a lot to do about nothing? Or is the risk just easier to quantify? On this week’s episode, Tom and Dylan discuss the market implications of what’s taking place in Eastern Europe.
The idea of a “new paradigm” is too overused. We don’t see new as paradigms as often as people claim. However, there are some legitimate paradigm shifts from time to time and one we are seeing is in content consumption. Long form storytelling and longer decision making trees are not nearly as relevant as they once were. Younger consumers want shorter clips. They may still watch an hour on TikTok, but each piece of content has to stay short or it loses its audience. Tom and Dylan discuss this new content consumption and its implications on this week’s episode.
The idea of a “new paradigm” is too overused. We don’t see new as paradigms as often as people claim. However, there are some legitimate paradigm shifts from time to time and one we are seeing is in content consumption. Long form storytelling and longer decision making trees are not nearly as relevant as they once were. Younger consumers want shorter clips. They may still watch an hour on TikTok, but each piece of content has to stay short or it loses its audience. Tom and Dylan discuss this new content consumption and its implications on this week’s episode.
Where do you draw the line before you break up a monopoly? And who are the monopolies? Can a company go too far with their business expansion and make themselves vulnerable to a level of scrutiny they may not want? Does it make sense for Amazon, who just moved into telehealth, to next move into financial services? Tom and Dylan debate who the largest monopolies are with the biggest bullseyes and at what point they risk getting too big.
Commissions on equity trading were cut to nothing in the last few years. And while costs for derivatives trading have been reduced, there is still a cost. Yet the derivatives market is the one seeing a faster growth rate and it’s by and large being driven by retail traders. On a separate but related note, actively managed hedge funds vastly underperformed major indices in 2021. What is that telling us? On this week’s podcast, Tom and Dylan debate what this means.
There are two schools of thought when it comes to vetting qualified decision makers. One was is via academic credentials and explicit endorsement from other experts. The other way is allowing someone to take a product to market and let the market decide. Which way is better? Tom and Dylan debate both on this week’s podcast.
GameStop was not a stock on anyone’s radar until about one year ago when it suddenly became the most popular stock. It was the birth of the meme stock. A year later, there’s still no clear answer what caused it or if it can happen again. This week, Tom and Dylan reflect on the events of a year ago and the likelihood of it happening again.
You have multiple different markets when it comes to investing: equites, real estate, sports betting, etc. Where is the best place and how do you size appropriately for those different markets? Also, should college athletes be paid? If so, how much? If not, why not? On this week’s podcast, Tom and Dylan cover all this and more.
Any startup investor must acknowledge the potential loss of their full investment. It’s the nature of the beast. And when they do lose their money, they simply go on to the next investment. It’s a numbers game. But when the reason for an investment not working are a result of fraud, there’s systemic damage done to the whole entrepreneurial world. Tune in this week to hear Tom and Dylan on this week’s episode.
Is decentralized finance the future? In the last episode of the year, Tom Sosnoff and Dylan Ratigan weigh in on their past predictions for 2021 and then shift gears to what’s next. While Dylan is confident that Bitcoin is on its way to $150,000, Tom is of the belief that bitcoin is mispriced and that a pullback to $20,000 is in store. Still, find out why Tom loves the digital asset space, why he plans to invest aggressively in the years to come, and why 2021 was such a transformative year for finance and markets.
Was 2021 extraordinary? What would make 2022 more exciting for traders and, more broadly, humankind? Tom Sosnoff and Dylan Ratigan share their thoughts around teleportation, the "new" version of meme stocks, and why they want to see a bigger appetite for risk in business, finance, and beyond.
Yield farming is the process of lending out crypto for a fee. Firms around the world are engaging in this process by paying long holders of crypto high interest rates in exchange for borrowing and then lending out that same crypto. It’s a delicate system where all must go right or everything goes wrong. What kind of risk might that mean for markets? On this week’s episode, Tom and Dylan cover this as well as the record high number of stock buybacks taking place.
Is going back to the office a good thing or bad? There are those who argue being home has unleashed a freedom on time and improved quality of life. At the same time, businesses that thrive on collaboration have been stalled for nearly two years. On this week’s episode, Tom and Dylan discuss returning to work, its implication for business, and Beijing dropping bombs on cellphones.
Even as Michael Jordan led the Bulls to the most glorious NBA Championship reign in history, Jerry Krause spouted: “Organizations win championships—not players.” But looking at say, Tesla, a company whose valuation boggles the mind when compared to any other car company, you might ask “what would Tesla be worth without Musk?” Maybe the only way to get outsized returns is with the extreme behavior of one outspoken but visionary leader...
2021 is winding down. Worries about who would win the 2020 election and its impact on the market seem a distant memory. The pandemic didn’t deter the bull. Inflation risk? Please. The truth is, nothing that we think matters actually matters where markets are concerned. Opinions are fun but rarely reliable for trading. Tom and Dylan discuss this and more.
Fundamental investing can lead to very modest, low volatility returns. Does anyone in 2021 want modest low volatility returns? Judging by the demand for crypto assets, SPACs and IPOs, the answer is, no. Alpha investing has replaced fundamental investing and we’re willing to accept the volatility that comes with that. Tune to hear Tom and Dylan discuss this and more.
Markets need accountability. Whether that’s equity markets or bond markets, it makes no difference. CEOs need to know what they say publicly matters and they’re on the hook for it. Carbon footprints could be treated similarly. Loans can be structured to incentivize or penalize based on emission targets. But until we get serious about enforcement, nothing is going to change. Dylan and Tom discuss this and more on this week’s episode.
The IRS is asking for banking information on accounts over $10,000 as a way to track down on tax avoidance. The problem is, people with $10,000 are not setting up tax havens. That’s an issue for the 1%. Facebook is monetizing your most visceral reactions to content by manipulating your privacy. What does all this mean for privacy? Check out this week’s episode to hear Tom and Dylan cover this and more.
Income inequality and the fall of organized labor go hand-in-hand. The last 40 years have seen a growth in income disparity and fall in the power of organized labor. Supply chain shortages are shifting the balance of power back toward labor. This might be good for reducing income inequality but will it have a longer term fundamental impact on economic growth rates? On this week’s podcast, Tom and Dylan discuss the reemergence of labor and the need to see them as an asset, not a cost.
What is the statute of limitations on offensive comments? Clearly, there are degrees of offense and some things should absolutely not be tolerated. We hold NFL coaches like Jon Gruden to a standard. But what about when people run for President? What about corporate CEOs who said something offensive in college? We selectively apply reach-back justice. How do you create a standard that’s fair so everyone is held accountable? Tom and Dylan discuss this and more.
Is Facebook the problem or are we? Mark Zuckerberg created a platform that delivers communication in an instant. Is it the fault of his creation that distortion has found its way into the platform and sowing discord? Or is it our fault and we just need a convenient scapegoat? The users actively contributed to their growth and now many of those same users are calling for Facebook’s breakup. Tom and Dylan discuss on this week’s episode.
The second largest economy in the world belongs to China. For years their real estate and tech sectors have been growing exponentially. In just the last several months, the authoritarian hand came down on both sectors. If you’re long U.S. equities, is China the canary in a coal mine telling you to take some profits? Or has the Fed locked itself into a problem with its quantitative easing programs that will keep stocks perpetually moving higher? Tune in and hear what Tom and Dylan have to say.
If you just watch TV and read newspapers, you’d think the country is imploding. But the market is at all-time highs. Innovation continues in areas like crypto assets. Maybe we’re a little too worked up and the market is trying to tell us to chill a bit. On this week’s episode, Tom and Dylan discuss crypto regulation, politics and the state of the market.
No one will forget the events of 9/11 or where they were that day. Most of us watched on TV as the events unfolded. But for some, it was their job to report what was happening as it happened. On this week’s episode, Dylan talks about being a broadcast journalist in New York at the time of the attack. Tom talks about the fear that traveled to Chicago and brought financial markets to a stop in the process. You don’t want to miss this week’s episode.
The best way to become relevant is to say something outrageous. Case in point, John Paulson’s prediction that crypto will be worthless. Is he right? Who knows. Did it get people talking about him again? Absolutely. Crypto pundits either insist crypto’s potential is either unlimited or it’s worthless. It’s a binary play leading to rags or riches. Forget the fact we have no idea what role crypto will ultimately play. The game is more fun when you’re making binary predictions. Tom and Dylan discuss this and more on this week’s episode.
What do you call a ball player you sign on for a fortune, puts more people in the stadium seats at higher prices but doesn’t perform better than the player they replaced? Fans might call it a bust. Team owners might see it as a success. Some companies change industries, improve customer experience and generate returns for investors. Other companies fundamentally change an industry, generate returns for investors but worsen the customer experience. Does that make them a disruptor or a detriment? Tom and Dylan discuss this and more on this week’s podcast.
The CME’s proposed purchase of the CBOE will be scrutinized not just by regulators, but investors as well. However, when CEOs like Elon Musk decide to invest retained earnings in crypto assets, there’s no one stopping them. Maybe it makes sense to diversify from the U.S. dollar with excess reserves. But there’s risk in that which could backfire. Dylan and Tom discuss this and more on this week’s episode.
If Elon Musk had done what Andrew Cuomo did, he probably would have been gone immediately. CEOs are simply held to higher standards. Does that need to change? Do we concentrate too much power in too few people whether it’s politically or in terms of capital? Are the risks in equity markets the same as the risks in crypto markets? All this and more on this week’s podcast with Tom and Dylan.
Robinhood’s IPO is a defining moment in retail trading. It’s a tacit acknowledgement of their success. Simplicity and confetti covered screens work. Still, there are going to be unintended consequences. Whether it’s traders getting in over their head or the lack of a complete strategic product offering, at some point Robinhood will face a challenge. How they handle that challenge or challenges might be what cements their legacy or ends their run. Tune in to hear Tom and Dylan discuss this and more.
Continual denial of what is actually happening is a recipe for disaster. Denying Covid and the need for vaccines has proven disastrous in ending the pandemic. Denying the power of free markets and destroying publicly listed Chinese stocks destroyed China’s potential to become the financial capital of the world. Denying that our political pay structure discourages the best and brightest from getting into public service has ruined our politic.
The concept of "risk" is very misunderstood and wrongly priced, according to Tom Sosnoff and Dylan Ratigan. In this episode of Truth or Skepticism, Tom and Dylan dissect risk from a trading perspective as well as risk from an entrepreneurial, innovation standpoint. Find out how the sensationalization of meme stocks is making new retail traders (wrongly) feel like a 10% return isn't good enough and get Tom's take on how to find a reasonable way to set expectations around risk-taking when it comes to trading and investing.
Perception skews how we view success. If you cheat or game the system to get ahead, the way you’re perceived is going to be dictated by the team you’re on. If you’re liked, you can get away with quite a bit. If you’re disliked, forget it. This week Dylan and Tom discuss exploiting rules, who can get away with it and who can’t. Also this week, a discussion on risk and seduction.
What creates corporate culture and does it matter? Does being in the office truly matter for a company to succeed? Tom has some strong feelings on the culture topic. Also on tap this week, what’s going on with China and what is driving their decision making with respect to listing companies on U.S. markets? Tune in and hear what Tom and Dylan have to say on this and more.
There is no denying the threat climate change poses. On a humanitarian and economic level, the effect of climate change is becoming more profound. How do we fix that? On this week’s episode, Tom and Dylan discuss climate, retail traders importance to the market and more.
No one knows what will happen the crypto space. What we do know is, there’s a lot of potential. Potential as a revenue generator. Potential as a speculative asset. Potential as a strategic asset. Any attempt by a government to stop or slow the momentum in crypto is shortsighted. There’s a revolution taking place that’s in its infancy. But it’s gaining traction and believers. Tom and Dylan cover this and more, on this week’s podcast.
Current market volatility is telling us there’s no need to worry. VIX is at its lowest level of the year. But outlier risk as measured by Skew, is at an all-time high. What accounts for this mixed messaging? Tune in to this week’s episode as Tom and Dylan cover this question, the Fed meeting outcome and more.
Protecting digital privacy is an obvious necessity. While the use of that data can be used to influence you or me, the network from which that data is aggregated spreads beyond just your browsing history. It includes that of your friends. The people you work with. On this week’s podcast, Tom and Dylan discuss the challenge of protecting digital footprints in an ever more connected world.
There’s a rotation taking place in markets, but it’s not the rotation you’re used to. Instead of the risk on/risk off type rotation, it’s a rotation into volatility and speculation. FAANG stocks are yesterday’s news. Today, it’s all about finding volatility and taking that speculative risk be it in crypto, GME or AMC. It’s a defining moment in markets. Tune in as Tom and Dylan discuss this and more.
Despite the largest ever notional value of short S&P 500, Tom believes markets remain overextended. The best play? Short premium with a hedge. Apple and Epic Games are in an epic battle that will likely set legal precedent for what a monopoly is. And meme stocks are back! Not because they’re your father’s solid fundamental investment, but because risk appetite remains high. All this and more on this week’s episode.
For better or worse, crypto is here to stay. Whether or not its future is that of a currency, speculative asset or some hybrid remains to be seen. As it stands now, you can’t simply call it a currency but you also can’t deny its potential to modernize finance. Tune in to hear Tom and Dylan discuss on this week’s episode.
Innovation is what happens when risk takers are given a little leash. There’s volatility risk attached to that leash, but if investors are more comfortable taking risk, there’s more potential for greater innovation. Today’s investors aren’t your Charlie Munger balance sheet scrutinizers. They’re young, fearless and willing to embrace risk for a potential payoff. Tom and Dylan dissect this new financial paradigm of risk taking.
Is Facebook a utility? And if so, does it need utility-type regulations? Today's announcement by Facebook's overnight board was a classic kick-the-can-down-the-road move. There's a decision that needs to be made about how to handle social media's influence. The question is, who's going to make that call? Tom and Dylan discuss take on a question with no good answer.
There was a time when monopolies were a legitimate threat. There are those who today see Facebook and Amazon as monopolies. If you’re going to break them up then Dylan thinks it needs to be done in a way benefitting user. However, Tom doesn’t think monopolies exist anymore given the speed of technology combined with the market’s natural ability to disrupt itself.
Speculative success, whether it was in cryptocurrencies, meme stocks or SPACs created the momentum bringing in a new generation of market participants. Whether or not they’ll stick around once the bubble bursts is this week’s focus of discussion. One the one hand, Tom doesn’t care how people got invited to the party, they’re here now so let’s engage them. On the other hand, Dylan worries the bait used to lure people in might be the same reason they leave the party.
Coinbase went public today with a valuation of nearly $100B. However, all you can do with Coinbase is buy crypto for a fee. Eventually, that fee will come down as all fees eventually become commoditized. Once that happens, it becomes harder to justify a $100B valuation. It’s really a matter of time before the big players carp the market and squeeze margins. Tune in to this week’s podcast as Tom and Dylan discuss Coinbase, Binance, tokenized trading and where they see all of this headed.
The tax system is broken and needs fixing. It’s not because we need taxes to pay for infrastructure. It’s because the playing fields globally and domestically needs leveling. By design or not, we’ve adopted Modern Monetary Theory to pay for programs. There’s no need to raise income taxes for that. But we do need fair taxes to attract capital and sustain markets. Don’t punish the workers for making money. Along those same lines, we need unions representing the needs of human capital at the table. Tom and Dylan cover all this and the amazing rebound in markets just a year removed from the onset of the pandemic.
On this week’s podcast, Dylan sees the risk of ghost leverage as a potential threat to U.S. markets. Tom is less concerned because the products which led to the blow up of Archegos aren’t allowed in the U.S. But in the highly connected world of finance, is there really such a thing as regionally-limited risk? Tune in this week as Tom and Dylan discuss, debate and explain these unseen risks.
In March of 2020 we worried the world was ending. Make no mistake, the last twelve months have been horrific at a humanitarian level. But if you’re only connection to the last year was through markets, you would have no idea just how bad it’s been. More people are engaged than ever before. SPACs and NFTs are asset classes which didn’t really exist a year ago. Crypto has also seen a massive bull run. 2020 will go down as one of the worst years in human history. Meanwhile, markets managed to find some solace in the most unlikely of times.
Economically and financially, things look really good. It’s stimulus day for most people. Equities are rallying. Yield curves are signaling a strengthening economy. Is it a new era or reason for worry? No one’s talking about the inevitability of higher taxes or irresponsible speculation that’s also taking place. Tom and Dylan tackle all that and more this week.
How do you know when you've drifted into a world of extremism? When everything costs either an insane amount of money or nothing. When politics are binary. When something called a non-fungible token is worth six figures. Those are pretty good signs. This week, Tom and Dylan discuss extremes, skew, the Fed, NFTs and even a little Harry, Meghan and Oprah.
What will a post pandemic world look like? No one is really sure, other than some new normal that has to be better than the last twelve months. With light at the end of the tunnel, why are stocks looking weak and interest rates rising? It’s buy the rumor sell the news, pandemic version. Warning signs are abundant with SPAC valuations, fringe stocks making crazy runs while overall markets lost their chutzpah. This week, Tom and Dylan discuss the next phase of the pandemic.
It doesn't seem to matter the financing method, retail investors never get to play with the big boys. SPACs are great for raising capital but are they great investments for retail investors? Has Tesla forgotten what made Tesla an experience and not just a car? Does Coinbase play too large a role in crypto currency? Check out this week's Truth or Skepticism.
When House hearings commence this week, expect Ken Griffin to be targeted by politicians. Why? Because when you're the richest guy in Illinois and no one really understands what you do in finance, you become low hanging fruit for vilification. Tom and Dylan cover this, crypto and SPAC-mania this week.
Gordon Gekko encouraged a generation that greed is good. But who would have thought it'd be Cheech and Chong responsible for creating new market participants? From pot stocks to crypto, a new generation of investors is engaged. Tom and Dylan discuss this, the volcano some are unknowingly dancing on and what the fallout after the eruption might look like.
Even in the most polarized times, nothing crosses the political divide like low hanging fruit. And there’s no perceived lower hanging fruit in the world of trading than payment for order flow and short selling. Arguably the most misunderstood aspects of finance. Listen in as Tom explains to Dylan why payment for order flow has improved market efficiency and how short selling keeps a market honest.
Who's driving the bus? Dylan and Tom debate the role of retail traders in stocks like GME. Are small investors in charge or is it still institutional money? No matter who is actually driving the bus, one thing is clear, the proliferation of small investors are making their voices heard.
Dylan Ratigan and Tom Sosnoff discuss the consequences of nefarious actions and an unlimited desire for more money. Whether it's media chasing viewers, corporate bailouts or equity prices, more money just seems to lead to more moral ambivalence.
Is there reason to be optimistic that we reached a tipping point? Tom seems to think so, but Dylan explains why he’s wrong. Generating conflict is big business for Facebook. The threat of censorship by private media companies is growing and markets are being driven by SPAC mania. Tune in and hear Tom and Dylan discuss a wide range of topics this week.
Volatility erupts in crashes and today we’re seeing a volatility explosion accompanied by a cultural crash. At the same time, equity prices are at all-time highs. At some point, you wake up in Tijuana and wonder how you got there. Tom Sosnoff and Dylan Ratigan discuss the surprise move in markets today, the political situation, the disconnect between the two and why even if you know in advance what’s coming, you may not know how to trade it.
Tom Sosnoff & Dylan Ratigan discuss the current optimism of the stock market and get into predicting what will happen in 2021. Other topics include:
- Brains vs Bots
- Market Efficiency
- Global Relations
- Bitcoin & Ripple's SEC Investigation
- Tesla & the EV Sector
- and much more...
As 2020 comes to a close, Tom and Dylan dive into the impact the coronavirus has had on the holiday season. Plus, get their take on the following:
- Is a Q1 selloff looming?
- New Presidential administration to-dos
- US Dollar Weakening
- Disney
- The Stimulus with respect to the market
- The importance of strategic investors
From bonds, to metals, to stocks, nearly every asset class (if not all) went up this year. With this "wall of worry" in place, what do the next few years of market activity look like? Will investors continue to buy at every sign of weakness? Tom Sosnoff and Dylan Ratigan examine the current complacency in the market and how Tom is positioning himself going into the next few months.
Plus, they talk about what TSLA entering the S&P 500 means for the future of passive indexing, big tech vs. governmental bodies, and the need for strategic products to trade.
Tom Sosnoff and Dylan Ratigan tackle the logistics for administering a COVID vaccine as well as DoorDash's IPO. Plus, learn more about the new Treasury Yield product from the Small Exchange, student debt compared to corporate bailouts, and how the world will use what it has learned during THIS pandemic in case another surfaces.
With more discussion and headlines on how and when vaccines will be distributed, how much of this is already priced into the market? What are the variables that can derail the COVID outlook? Tom Sosnoff and Dylan Ratigan hypothesize scenarios for the next 7 months, with June being a potential inflection point. Plus, get their input on:
- Yellen as Treasury Secretary
- Bonds
- Cryptocurrency risk/reward
- Currency conversion
- The future of finance in the hands of retail customers
With winter around the corner and COVID-19 cases skyrocketing, some GOOD news is that two vaccines have been shown to be relatively successful. But what will it take for the population to get vaccinated? Tom Sosnoff and Dylan Ratigan talk about the Coronavirus case outlook in today's podcast. Plus, they walk through Small Cap performance, Cryptocurrencies, how the new political climate will impact businesses, and more.
Interest rates are not negative despite earlier 2020 fears. How will Biden's office attempt to re-ignite the economy? Tom Sosnoff and Dylan Ratigan dissect these two topics on today's podcast. Plus, get their thoughts on:
- Uncertainty around the transition of power
- a "global" election
- Shifts in global market structure
- Chinese Tech Markets
- Rotation away from Tech Monopolies
- Who should get the vaccine first
- "De-politicizing" the bonds and how it impacts the debt market
Tom Sosnoff and Dylan Ratigan team up as the votes are still being counted for the next President of the United States. They recap last night's Election UN-Special and dissect this 500 point move in the NASDAQ. Tune in as they walk through what's next for another stimulus package, how long this pandemic can realistically go, and why there is a "breakdown of trust" in America.
With the election less than a week away and the market selling off, what will these next few days bring? What about afterwards? Tom Sosnoff and Dylan Ratigan talk about a repeat of March's market with this uptick in COVID cases and more on today's podcast. Get their opinion on the following:
- Best Case, Worst Case COVID outlooks
- Immediate, Rapid testing
- Wall Street's Money in Presidential Campaigns
- The NASDAQ vs. the General Market
- Asset selling
- The Future of Finance
Does the election matter or is it all about what happens with the stimulus? Dylan Ratigan and Tom Sosnoff hypothesize the biggest binary plays and best instruments to trade.
Plus, get their take on:
- The Absence of Major Federal Bailouts
- Commercial Real Estate
- Financial Analysts
- Buying any dip in the market
- If tax changes will move the market
As the health of the US economy is still in flux with the pandemic fallout, Tom Sosnoff and Dylan Ratigan center their conversation on "innovation drag." How will the lack of collaboration, creativity, and new business set us back? And for how long?
Plus, get their take on the following topics:
- earnings vs. the election
- political betting
- inflationary pressure
- the accuracy of polls
As Tom Sosnoff and Dylan Ratigan have said before, it's hard to shock the market anymore. Can anything sway the market before the big election? How are traders handling the stress of the world (and volatility) around us? Tune in as the duo answers these questions and covers the following:
- breaking up big tech
- fairer tax codes
- affordable at-home COVID testing
- disrupting the banking space
- economic reliance on the government
People are looking for ways to "trade" this election. Where does Tom Sosnoff see the most opportunity? In volatility, of course! Check out his ideas for trading during the presidential election season in today's podcast. Plus, tune in as Tom Sosnoff and Dylan Ratigan unpack the following topics in depth:
- insider trading
- poker & trading
- dealing with imperfect information
- socialism
- presidential debates
- universal healthcare
Why are SPACs the latest investing trend? How will technology help push social movements and is it tradable? Tom Sosnoff and Dylan Ratigan cover all sorts of topics on today's podcast. Check out some other points they hit on below:
- JP Morgan's Spoofing Penalty
- Why Wall Street institutions have no repercussions
- Fear levels for this election
- How to trade inflation
- Microchipping and mandatory COVID vaccinations
With retail traders being small fish in a big pond, do they actually have any control over the market or its behavior? Tom Sosnoff and Dylan Ratigan discuss the role of the retail investor. They also discuss the following topics:
- Snowflake's IPO
- Oracle and Larry Ellison
- The Fed
- Bonds at an all-time risk for a crash
- Climate Change and how it influences politics.
We are six months into the COVID-19 pandemic. Tom Sosnoff and Dylan Ratigan look back at how the markets have played out, whether or not the bubble has popped, and how the US is simultaneously coping with social unrest, income disparities, and more. Find out their thoughts on armed insurgencies, biggest "risks" in the market going forward, and how to achieve inclusive communities and economies.
Is the market frothy? Why are tradable levels of volatility so high? Is the economy more fragile than we are giving it credit for? Tom Sosnoff and Dylan Ratigan aim to answer these questions. They also look back at the "mini crash" of 1989 and determine whether or not any information from that historical event can be applied to this market environment.
Is Tom capitulating? Is there any way to make political party conventions interesting again? Why does the United States have so much power in the world of currencies? Tom Sosnoff and Dylan Ratigan try to answer these questions and also tackle new investors, "megastocks," and monetary policy.
What happens if we don't know who won the election the night of? How would that impact the market? Dylan Ratigan and Tom Sosnoff weigh in on an inconclusive election, tech monopolies, Epic Games vs. Apple, a virtual DNC, and more!
With another eventful week in the markets, social justice, and US politics, Tom Sosnoff and Dylan Ratigan have no shortage of topics to cover! Tune in as they unpack:
- Stock Splits in major tech names and its impact on the retail trader
- The market's reaction to whoever wins the 2020 Election & Biden's VP Selection
- The accuracy of who is leading in the POTUS polls
If the US can't have control when it comes to a natural disaster or a pandemic, how can the US possibly have control over the market? Does that explain what we're seeing? Tom Sosnoff and Dylan Ratigan dissect these questions and even more topics on today's podcast.
Get their take on:
- The Fed and Whacky Market Correlations
- Apple's rip higher
- Earnings season and outlier moves
- The US Relationship with China
- TULIP vs Enterprise value
Tom Sosnoff and Dylan Ratigan kick off the podcast with a quick look at the Fed announcement taking place during recording and its impact on the bond market. Then, they pivot into today's topics below:
- Gold at highs, dollar at lows
- Political rhetoric and this "trade war"
- Tech's comparison to Big Tobacco
- Major League Baseball as a test pancake for the return to work
- the stock market and the election
It's no secret that only a handful of people control a large portion of the world's wealth. How does that impact policies, politics, and social & technological progress? Tom Sosnoff and Dylan Ratigan examine this observation. Plus, get their take on:
- TSLA Earnings
- Anti-trust laws and American corporate structure
- the "theater" of drama with China
- Airline Outlook
As commercial real estate implodes, as education braces for the fall, and as insurance companies benefit from shelter in place, Tom Sosnoff believes we're never going back to the "old normal." Find out what shifts he and Dylan Ratigan believe to be permanent, and get their take on looming "price changes" in the market.
In this week's podcast, Tom Sosnoff and Dylan Ratigan tackle the following topics:
- elderly presidents
- universal benefits
- Trump's immigration stance
- Pump n Dump Stocks
- The Dot Com Bubble
- Respect for Science
Tom Sosnoff and Dylan Ratigan come back this week to talk about the upcoming election and how billionaires may have more influence over this election than ever before. Plus, they tackle taxpayer dollars, PPE, bank behavior, hyperinflation, eviction risk, and more!
Tom Sosnoff and Dylan Ratigan reflect on the first half of 2020, the pandemic, and how "lockdown" has attracted new participants to the market. They discuss millennials, Robinhood, financial literacy, and how brokerage firms have an obligation to advance individual investor "know-how." Additionally, Tom explains how trading and risk assessment helps people from all walks of life become better decision makers. Get all this and more on today's segment.
At some point, there is going to be a long "shadow" in the market/financial space due to everything the world has experienced since the pandemic hit. What does that mean for individuals, businesses, and the global economy in general? Tom Sosnoff and Dylan Ratigan weigh in on this term. Plus, they discuss the following topics:
- The "Multi-Crisis" we're facing
- The Hertz Saga
- The flow and allocation of capital by the Fed
- The reopening of schools
- Social changes resulting from the virus
Despite a still semi-shuddered economy, investors are buying bankrupt companies, tech stocks sky-rocket, and interest rates haven't changed. Why is the market on such a bull run? Tom and Dylan weigh in on today's Truth or Skepticism. Plus, they also aim to answer the following questions:
- Why is the fed/Jerome Powell being SO accommodating?
- Do deficits matter?
- Do rates have to stay low?
- Why does everything feel so "binary?"