Money Talks: Hedging their bets
Economist Podcasts
The Economist
4.4 • 4.9K Ratings
🗓️ 21 April 2020
⏱️ 28 minutes
🧾️ Download transcript
Summary
Hedge funds are usually seen as the risk-takers of the financial world, but how have they been performing in these times of economic turmoil? And, why the coronavirus pandemic could lead to the deaths of millions of small businesses. Plus, the problem of moral hazard—could government bail-outs have unintended consequences? Patrick Lane hosts
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Transcript
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| 0:00.0 | Games, stories or cartoons, whatever they love, guide your child to the right apps for them. |
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| 0:21.2 | Hello and welcome to Money Talks on Economist Radio, |
| 0:24.9 | a weekly podcast on the markets and the world of business. |
| 0:28.9 | I'm Patrick Lay, Deputy Digital Editor at the Economist. |
| 0:32.9 | And coming up on today's show, |
| 0:36.6 | could the pandemic be the death of small businesses? |
| 0:40.0 | The corporate finance network of regional accounting firms in Britain has said that |
| 0:44.4 | fifth of firms will run out of money this month. |
| 0:48.4 | And Games of Moral Hazard, as governments try to ease the pain, could bailouts have |
| 0:53.8 | unintended consequences. |
| 0:55.7 | You have a separation between the person taking risks and the entities that may end up being |
| 1:00.8 | on the hook for the cost of those risks. |
| 1:11.8 | But first, as stock markets crumbled in response to the COVID-19 crisis, |
| 1:16.7 | hedge funds, often seen as the buccaneers of the financial world, |
| 1:20.8 | have suffered less damage than most investors. |
| 1:23.6 | Some have made money by betting against the shares of companies under pressure. |
| 1:28.3 | This comes after a decade of underperformance. |
| 1:31.5 | So, hedge funds avoid the worst in times of economic turmoil. |
| 1:35.5 | In the first three months of 2020, the S&P 500 fell about 20%. |
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