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The Intrinsic Value Podcast - The Investor’s Podcast Network

MI Rewind: Deep Dive into Stock Exchanges and Nasdaq w/ Kevin Kennedy

The Intrinsic Value Podcast - The Investor’s Podcast Network

The Investor's Podcast Network

Education, Investing, Business

4.6592 Ratings

🗓️ 30 November 2023

⏱️ 66 minutes

🧾️ Download transcript

Summary

Robert Leonard chats with Kevin Kennedy about the impact of technology, fiscal and monetary policy, options trading and exchanges, cryptocurrency, and the rise of retail investors, on the growth of the stock market, and much more! IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 17:30 - How technology has had an impact on the markets and the rise of retail investors. 26:55 - How to study markets today and if there’s a fundamental shift that makes this time truly “different”.  32:18 - How retail investors’ access to the markets changed how they function outside of fiscal and monetary policy. 33:01 - The recent growth in the options space and where Kevin sees it coming from. 33:01 - If the current growth in options trading is sustainable and if there is going to be a point where this can potentially crumble and backfire on speculative options traders. 37:25 - The different options exchanges the Nasdaq has and why six exchanges are necessary. 49:16 - Where the Nasdaq and the worlds of crypto and options collide.  51:09 - The future of capital markets and whether or not crypto will be part of it. 54:33 - Lessons Kevin learned as a trader and what major mistakes he made. And much, much more! BOOKS AND RESOURCES Nasdaq.com XND microsite. David Swensen’s book Pioneering Portfolio Management. John Bogle’s book The Little Book of Common Sense Investing. Joel Greenblatt’s book The Little Book That Still Beats the Market. All of Robert’s favorite books. NEW TO THE SHOW? Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Check out our Millennial Investing Starter Packs. Browse through all our episodes (complete with transcripts) here. Try Kyle's favorite tool for picking stock winners and managing our portfolios: TIP Finance. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: Fiscal.AI Connect with Kevin: Website | LinkedIn | Twitter Connect with Robert: Website | Instagram Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

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0:00.0

You're listening to TIP.

0:02.3

On today's show, we're re-sharing some of the older episodes that are my favorites for a few reasons. One, we get a bunch of new listeners each week, so new listeners may not have heard this episode before. Two, even if you've been listening for a while, you may have missed this episode when it originally came out. Or three, even if you've heard it before, it could be a great episode to learn from again. If you've already heard this episode or you're not interested in hearing it, feel free to just skip it. There's no harm in that. And you can pick up with our new episodes next week. That's all I had for you for this new intro. Everything going forward is going to be from the original episode. I hope you guys enjoy it. This week, I talk with

0:38.2

Kevin Kennedy about the impact of technology, fiscal and monetary policy, options trading,

0:44.6

exchanges, cryptocurrency, and the rise of retail investors on the growth of the stock market.

0:51.0

Kevin began his career as an independent market maker in September, 1987.

0:56.0

Don't worry if you don't know what an independent market maker is. Kevin and I dive deep into that in today's episode.

1:02.0

From there, he became the president of his own trading firm and vice president in the Goldman Sachs

1:08.0

Equity's Division. Today, he is the senior vice president and head

1:12.7

of product management for North American markets at NASDAQ. A lot of people, and myself included,

1:19.3

don't often think about how the stock market actually works. Many of us just log into our

1:25.0

brokerage accounts online or on our phone, make trades, and then close

1:29.3

out of it without giving much thought to what is actually happening when we click submit on our

1:34.5

trades. In today's episode, we dive into exactly that and learn all about how stock market

1:41.4

exchanges work and how they've evolved over the decades.

1:45.3

I hope you guys enjoy this conversation with Kevin Kennedy.

1:49.1

You're listening to Millennial Investing by the Investors Podcast Network,

1:53.6

where your host, Robert Leonard, interview successful entrepreneurs, business leaders, and investors

1:58.8

to help educate and inspire the millennial generation.

2:10.9

Hey, everyone. Welcome to the Millennial Investing Podcast. As always, I'm your host, Robert

2:15.6

Leonard, and with me today, I have Kevin Kennedy. Welcome

2:19.1

to the show, Kevin. Thanks, Robert. It's great to be here. I am literally thrilled to chat with you

2:24.0

today about various number of topics. Let's start by talking a bit about you and your background.

...

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