Michael Green: Has Passive Investing Crossed The Rubicon? | On The Tape

RiskReversal Pod

RiskReversal Media

Business News, News, Investing, Business

4.7 • 836 Ratings

🗓️ 8 May 2026

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Mike Green returns to On The Tape discuss why U.S. equities hit record highs despite the Iran war and oil spike, arguing systematic 401(k) and volatility/trend strategies drove historic inflows and that markets had largely priced in fear via VIX, correlation, skew, and heavy hedging that later unwound. He critiques Nasdaq’s new low-float multiplier rules as boosting demand for IPOs like SpaceX/OpenAI and warns S&P’s proposal to waive profitability requirements could turn the index into a private-equity exit vehicle and alter its historical quality bias. Green views the Fed as mostly narrative-driven except during major rate shifts, faults data-dependence, and says inflation swaps don’t show a breakout, while high rates act as a fiscal transfer that reinforces a K-shaped economy. He explains passive bond indexing can underweight long-duration Treasuries, potentially motivating buybacks/yield-curve-control-like actions. The conversation also covers AI capex, emerging AI-driven job restructuring favoring older workers, and Bitcoin’s ETF-driven financialization and limited utility. Show Notes Checkout Mike's Substack: https://www.yesigiveafig.com/ Follow On The Tape on YouTube: https://www.youtube.com/channel/UCe8y7CzcjhMPTzem-Zn6sqA —FOLLOW USYouTube: @RiskReversalMediaInstagram: @riskreversalmediaTwitter: @RiskReversalLinkedIn: RiskReversal Media

Transcript

Click on a timestamp to play from that location

0:00.0	Balance your trading strategy by adding futures. CME group helps you manage risk and capture opportunities in all market environments.
0:09.1	Capitalize on around the clock access to highly liquid global futures and options market across all major asset classes.
0:16.9	Just visit your online broker and get started.
0:19.7	Plug into valuable educational materials and trading tools and see what adding futures
0:24.3	can do for you at cMEgroup.com slash on the tape.
0:30.9	This episode of the Risk Reversal podcast is presented by Fidelity Investments.
0:36.1	When timing is everything, you need a platform that can meet
0:39.2	the moment. The all-new Fidelity Trader Plus can help you stay close to the trade with powerful
0:44.7	tools and charts that show up consistently across all your devices. So you can build a trade at
0:50.2	home, get real-time data from your phone, and complete a saved order from your laptop
0:55.1	without starting over. Fidelity Trader Plus can help you make smarter, faster decisions
1:00.8	wherever you trade with free third-party single-score analyst ratings and custom alerts.
1:07.6	Try it today at Fidelity.com slash Trader Plus.
1:12.5	IConnections is the largest membership-only platform for the alternative investment industry.
1:16.5	Bringing together thousands of fund managers and allocators in one powerful hub.
1:19.7	IConnections reimagines how the industry connects through its digital offerings and premier in-person events,
1:24.4	empowering allocators and managers to meet, build relationships, and do business
1:27.9	anytime, anywhere. To explore more about IConnections, its events, and gain access to the
1:32.2	members-only platform, visit iConnections.io.
1:38.2	Welcome to the Risk Reversal Podcast. I am Dan Nathan. I am joined today by Danny Moses,
1:43.3	the host of the On the Tape podcast. Danny, welcome to the podcast.
1:47.8	Thanks for having me on, Dan.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from RiskReversal Media, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of RiskReversal Media and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.