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RiskReversal Pod

Market Bursts, Thunder in your Ear and an Interview with Joe De Sena of Spartan

RiskReversal Pod

RiskReversal Media

News, Investing, Business News, Business

4.7836 Ratings

🗓️ 25 February 2022

⏱️ 63 minutes

🧾️ Download transcript

Summary

Guy and Dan discuss the stunning reversal on Thursday (2:40), the Fed painting themselves into a corner (17:15), huge moves in the commodities market (24:09), Tesla CEO Elon Musk in hot water (28:10), opportunities in the market right now (30:27), and Dan’s Dickbutt (33:57). The co-hosts interview Joe De Sena, CEO of Spartan Race, and talk about his past career on Wall Street (43:54), his lifestyle as CEO of Spartan (55:12), and his new CNBC show (1:02:06). Watch the premiere of ‘No Retreat: Business Bootcamp’ on March 8th at 10 pm on CNBC. ---- See what adding futures can do for you at cmegroup.com/onthetape.  ---- Shoot us an email at OnTheTape@riskreversal.com with any feedback, suggestions, or questions for us to answer on the pod and follow us @OnTheTapePod. We’re on social: Follow Dan Nathan @RiskReversal on Twitter Follow @GuyAdami on Twitter Follow Danny Moses @DMoses34 on Twitter Follow us on Instagram @RiskReversalMedia Subscribe to our YouTube page

Transcript

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0:00.0

Typically, we come in all hot and excited and bothered, but the world's obviously changed.

0:06.2

And this week, we're without our good friend, Danny Moses, who is in parts unknown, as they say.

0:11.5

I think he's at a bachelor party or something in one of the islands, Dan.

0:14.7

But he picked a great week to be away because so many things have happened, both geopolitically, market-wise. It's all over the map,

0:23.3

Dan. And it's amazing that we're here together on a Thursday afternoon. Yeah, you know, it's funny.

0:27.6

You have these periods in the markets where during the pandemic, it was clearly across multiple

0:32.8

risk assets, there was currencies, there was stocks, there were yields. Everything was moving.

0:55.4

And those are really difficult markets. And I know I know guy you've been a market punded for a very long time and you also traded a lot of those products and so one of the things that we try to do is make some sense of it without making it too wonky or too difficult in a way and so we had gone after the pandemic. It was just a rip-roar and stock market. You had low yields. You had low volatility. You had a lot of liquidity. And it was just by every dip in the equity market.

1:00.0

And these are the periods that are really hard. I've been spending a lot of time as you have

1:03.9

talking about what's been going on over the last few weeks or a few months or so, you and I've

1:08.7

been doing a lot of Twitter spaces, doing a lot of content. And it seems like there's just an explosion of people who don't know what the fuck is going on

1:15.5

right now. So at the end of the day, days like today don't really help so much guy because it doesn't

1:21.5

make any sense. We opened down what, 3% in the NASDAQ, 2.5% in the S&P 500. And here we are as we go into the close.

1:28.8

It looks like a rip-roaring day. Like all's good in the world.

1:31.8

In case you were confused, you are listening on the tape. I'm Guy Adami.

1:35.8

Join always by Dan Nathan. As I mentioned, Danny's on vacation. But Dan, you mentioned some of these rip-boring moves, you wrote them down because the reversals we've seen today, today being Thursday, by the way, folks, have been nothing short of historic.

1:49.6

Listen, you and I keep an eye on a few things like this and markets like this and fast markets like

1:54.1

this where it's just not about the stock market. The VIX opened, what, at 37 and a half,

1:59.9

and that was the dead high, right?

2:01.8

Guy, and we had crude oil, WTI, traded 100.

2:06.1

Now it's trading about 92 and a half, 93.

2:09.2

The VIX is down at 30.

...

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