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The Intrinsic Value Podcast - The Investor’s Podcast Network

MI099: Deep Dive into Stock Exchanges and Nasdaq w/ Kevin Kennedy

The Intrinsic Value Podcast - The Investor’s Podcast Network

The Investor's Podcast Network

Investing, Education, Business

4.6592 Ratings

🗓️ 30 June 2021

⏱️ 65 minutes

🧾️ Download transcript

Summary

IN THIS EPISODE, YOU’LL LEARN: 20:00 - How technology has had an impact on the markets and the rise of retail investors  23:15 - How retail investors’ access to the markets changed how they function outside of fiscal and monetary policy  25:25 - How to study markets today and if there’s a fundamental shift that makes this time truly “different”  28:59 - The recent growth in the options space and where Kevin sees it coming from  30:48 - Whether fiscal and monetary policy or retail investors’ access to capital markets has a bigger impact on capital markets  31:31 - 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  37:35 - The different options exchanges the Nasdaq has and why six exchanges are necessary  45:26 - Where the Nasdaq and the worlds of crypto and options collide  47:19 - The future of capital markets and whether or not crypto will be part of it  50:43 - Lessons Kevin learned as a trader and what major mistakes he made  BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Get more FREE content from Robert Get a FREE audiobook from Audible 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 SPONSORS Support our free podcast by supporting our sponsors: Fiscal.AI Read this episode’s transcript and full show notes on our website. Connect with Kevin: Website | LinkedIn | Twitter  Connect with Robert: Website | Instagram  HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!  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 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. This week, I talk with Kevin Kennedy about the impact of technology,

0:07.1

fiscal and monetary policy, options trading, exchanges, cryptocurrency, and the rise of retail

0:13.4

investors on the growth of the stock market. Kevin began his career as an independent market

0:18.9

maker in September 1987. Don't worry if you don't know what an independent market maker in September 1987.

0:22.4

Don't worry if you don't know what an independent market maker is.

0:25.2

Kevin and I dive deep into that in today's episode.

0:28.7

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

0:33.9

Equity's Division.

0:35.8

Today, he is the senior vice president and head of product management

0:39.1

for North American markets at NASDAQ. A lot of people, and myself included, don't often think

0:46.0

about how the stock market actually works. Many of us just log into our brokerage accounts

0:51.2

online or on our phone, make trades, and then close out of it

0:55.3

without giving much thought to what is actually happening when we click submit on our trades.

1:01.1

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

1:08.0

and how they've evolved over the decades. I hope you guys enjoy this

1:11.9

conversation with Kevin Kennedy. You're listening to Millennial Investing by the Investors

1:17.8

Podcast Network, where your host, Robert Leonard, interviews successful entrepreneurs, business

1:23.3

leaders and investors to help educate and inspire the millennial generation.

1:36.6

Hey everyone. Welcome to the millennial investing podcast. As always, I'm your host, Robert

1:41.2

Leonard. And with me today, I have Kevin Kennedy. Welcome to the show,

1:45.2

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

1:49.8

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

...

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