My guest today is David Kalk. David used to run Peter Thiel’s Macro Fund and is currently the CIO of Reflexive Capital where he spends most of his time managing the Crypto-focussed Liquid Trading fund. We start the conversation by asking where we are in the new regime. We then talk about reflexivity and how it applies in crypto. We also cover his trading process, how he evaluates new tokens, Solana's resurgence, the Bitcoin ETF and more. Please enjoy this conversation with David Kalk.

For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.
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Making Markets is a property of Colossus, LLC. For more episodes of Making Markets, visit joincolossus.com/episodes.
Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.
Follow us on Twitter: @makingmkts | @ericgoldenx
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).

Show Notes
(00:00:00) Welcome to Making Markets
(00:01:48) First question - Assessing the current state of cryptocurrency
(00:04:44) Exploring the concept of reflexivity
(00:11:57) Unpacking the structure of Reflexive Capital
(00:27:16) Positioning crypto within the broader risk asset context
(00:30:42) Strategies for researching the crypto market
(00:37:43) Non-crypto funds' perspectives on crypto trends
(00:43:41) Delving into the significance of pricing in crypto
(00:51:08) Evaluating the current phase of cryptocurrency investment
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David Kalk: Crypto's New Regime - [Making Markets, EP.15]

Making Markets explores the psychology and structure that make up markets all over the world. Each week, Eric Golden speaks to experts about a different market so you can see what actually happens when money changes hands. From mainstream stock and bond markets to esoteric niches like vineyards, antique art, and crypto, we explain the transactions that underpin our economy. Visit joincolossus.com to find more episodes, transcripts and a library of content to continue your learning.

Business

Investing

Careers

Management & Marketing

Business News

Shopping

Management

Matt turns the mic on Eric for the quarterly recap where they reflect on a strong first quarter for 2024, the secular trends in market and investment structures, navigating the IPO market, and the next generation of investors. Please enjoy this episode of Making Markets.

For the full show notes, transcript, and links to the best content to learn more, check out the episode page HERE.
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Making Markets is a property of Colossus, LLC. For more episodes of Making Markets, visit joincolossus.com/episodes.
Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.
Follow us on Twitter: @makingmkts | @ericgoldenx
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).

Show Notes
(00:00:00) Welcome to Making Markets
(00:01:21) Analyzing the Strong First Quarter of 2024
(00:03:57) In-Depth Discussion on Inflation and Economic Trends
(00:07:40) Exploring the Power and Influence of the Federal Reserve
(00:09:06) The Dynamics of Private Credit and Commercial Real Estate
(00:14:56) Navigating the IPO Market and Private vs. Public Conflict
(00:16:40) Secular Trends in Market Structure and Investment
(00:20:51) Exploring the Allure of Alternative Investments
(00:22:05) The Evolution of Wealth Management
(00:23:38) The Next Generation: Capturing Gen X and Gen Z Investors
(00:25:13) Fee Compression and the Future of Financial Services
(00:27:29) Bitcoin's Milestones and Market Dynamics
(00:33:34) Reflecting on Making Markets
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Quarterly Market Recap: Q1 2024 - [Making Markets, EP.26]

My guest this week is Brutus Clay. Brutus is the Chairman and CEO of Runnymede Farms, the oldest operating thoroughbred farm in Kentucky. He takes us through the fascinating world of breeding and racing thoroughbreds. We talk about the buy side in this industry and the similarity to Venture Capital and Private Equity. 
We end by talking about the horse racing industry and the beautiful story of the horse called Cody’s Wish. Please enjoy this unique conversation with Brutus Clay.


For the full show notes, transcript, and links to the best content to learn more, check out the episode page HERE.
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Making Markets is a property of Colossus, LLC. For more episodes of Making Markets, visit joincolossus.com/episodes.
Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.
Follow us on Twitter: @makingmkts | @ericgoldenx
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).

Show Notes
(00:00:00) Welcome to Making Markets
(00:01:04) Brutus Clay And The Legacy of Runnymede Farms
(00:05:55) Kentucky: The Heartland of Horse Racing
(00:08:45) The Economics of Breeding Racehorses
(00:11:46) The Lucrative World of Stallions and Stud Fees
(00:13:47) Understanding the Auction Dynamics and Revenue Sharing
(00:16:020) The High Stakes of Horse Sales at Keeneland
(00:18:04) Understanding Horse Behavior and Potential
(00:21:57) The Business Model Behind Stallion Operations
(00:24:46) Investment Insights: Comparing Horse Racing to VC
(00:30:32) The Strategy Behind Horse Trading and Breeding
(00:33:35) A Real-Life Underdog Story: Qualifying for the Derby
(00:38:28) Cody's Wish: A Beacon of Hope and Victory
(00:43:03) The Future of Horse Racing
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Brutus Clay: The Market for Racehorses - [Making Markets, EP.25]

Today we are revisiting this great episode with Jim Bianco, the founder and President of Bianco Research. Jim is well-known on Wall Street for providing macro analysis since the nineties. He takes us through his unique perspective on the economy. We start with his contrarian view on interest rates. We then cover the changes to the economy since COVID, such as remote work and the new consumer. We also talk about his new fixed-income ETF, Crypto, the Red Sea crisis, and more. Please enjoy this conversation with Jim Bianco. 


For the full show notes, transcript, and links to the best content to learn more, check out the episode page HERE.
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Making Markets is a property of Colossus, LLC. For more episodes of Making Markets, visit joincolossus.com/episodes.
Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.
Follow us on Twitter: @makingmkts | @ericgoldenx
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).

Show Notes:
(00:00:00) - Welcome to Making Markets
(00:03:06) - First Question - Predictions on the Future of Interest Rates
(00:07:24) - The Impact of Global Events on Inflation
(00:11:03) - The Influence of Housing Inflation on the Economy
(00:17:04) - The Impact of Remote Work on the Economy
(00:28:45) - Attitude Changes on Spending and Inflation
(00:30:48) - The Concept of Revenge Travel
(00:31:53) - The Role of Stimulus Checks in the Economy
(00:34:04) - The Shift in Investment Strategies
(0042:01) - The Creation of the Bianco Research Total Return Index
(00:51:32) - The Potential of Cryptocurrency and Blockchain
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Jim Bianco: The New Normal - [Making Markets, REPLAY]

My guest today is Yossi Levi, better known as Car Dealership Guy, who has quickly become one of the most popular voices in the auto industry. Last year, I spoke to CDG about the US Car Market and the business model of car dealerships. Today's conversation covers Yossi's personal story and media business. We start with a quick overview of his fascinating backstory, from a used car dealer to tech entrepreneur to now a media founder. We then dig into his media business, talking about the business model, target audience, and the content treadmill. We end the conversation with a section on the US car market, where we cover demand and supply, the affordability challenge, EVs and hybrids, and more. Please enjoy round two with Car Dealership Guy.

For the full show notes, transcript, and links to the best content to learn more, check out the episode page HERE.
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This episode is brought to you by 10 East. 10 East is a platform where qualified investors can co-invest on a deal-by-deal basis across private equity, private credit, real estate ventures, and other one-off opportunities typically unavailable through traditional channels. It's no surprise that founders, executives, and portfolio managers from leading investment firms are using 10 East to diversify their personal portfolios. Their level of sourcing and diligence is institutional grade. To learn more, check out 10east.com.
-----
Making Markets is a property of Colossus, LLC. For more episodes of Making Markets, visit joincolossus.com/episodes.
Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.
Follow us on Twitter: @makingmkts | @ericgoldenx
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).

Show Notes
(00:00:00) Welcome to Making Markets
(00:03:41) From Used Car Dealer to Online Auto Retailer
(00:07:08) Transitioning from Business Owner to Influencer
(00:14:52) The Evolution of CDG's Media Platform
(00:17:44) The Strategy Behind Building a Media Empire
(00:24:13) The Automotive Industry's Economic Landscape
(00:31:00) Challenges and Opportunities in the Used Car Market
(00:36:10) - The Impact of EVs and Hybrids on Market Dynamics
(00:43:40) Exploring the Future of Affordable Cars
(00:48:23) Insights on Car Dealership Operations
(00:51:08) Economic Optimism in the Car Industry
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Car Dealership Guy: From Car Dealer to Media Company - [Making Markets, EP.24]

My guest this week is Bored, the pseudonymous Twitter personality who shot to prominence as Bored Elon. Bored spent over a decade in the video games industry, supporting the launch of 100+ game titles, and today, he takes us on a deep dive through the industry.
We start by talking about Crypto Gaming, why it’s failed to deliver on its promise, and why Bored is still bullish on the category. We also talk about the overall gaming industry, the impact of AI, his new venture Edison, and more. I first chatted with Bored back in June '22, and his return on the show was as good as his debut. Please enjoy this conversation with Bored.

For the full show notes, transcript, and links to the best content to learn more, check out the episode page HERE.
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This episode is brought to you by 10 East. 10 East is a platform where qualified investors can co-invest on a deal-by-deal basis across private equity, private credit, real estate ventures, and other one-off opportunities typically unavailable through traditional channels. It's no surprise that founders, executives, and portfolio managers from leading investment firms are using 10 East to diversify their personal portfolios. Their level of sourcing and diligence is institutional grade. To learn more, check out 10east.com.
-----
Making Markets is a property of Colossus, LLC. For more episodes of Making Markets, visit joincolossus.com/episodes.
Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.
Follow us on Twitter: @makingmkts | @ericgoldenx
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).

Show Notes
(00:00:00) Welcome to Making Markets
(00:03:18) Exploring the State of Crypto Gaming
(00:05:01) The Complexities of In-Game Economies
(00:11:32) Separating Crypto from Traditional Gaming
(00:19:24) The Frontier of Event Gaming
(00:26:09) Role of Blockchain and Crypto in Gaming
(00:36:15) Gaming Distribution and Influencer Models
(00:41:34) The Impact of AI on Gaming and the Future of Web3
(00:47:38) Future Directions in Gaming
Learn more about your ad choices. Visit megaphone.fm/adchoices

David Kalk: Crypto's New Regime - [Making Markets, EP.15]

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