Slate Money | Schrödinger’s Equities

Slate News

Slate Podcasts

News, News Commentary, Politics

4.6 • 6K Ratings

🗓️ 3 January 2026

⏱️ 48 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week: 2025 ended on high for the US stock market but no one seems too pleased with its performance. Felix Salmon, Elizabeth Spiers, and Emily Peck, unpack the story of the US markets in 2025, why it was outperformed internationally, and the role AI has played. Then, the hosts discuss how, amid the uncertainty and chaos of Trump’s trade war, Mexico has found a way to come out on top. And finally, 2025 saw a boom for dealmaking with $2.4 trillion in global mergers and acquisitions. Meanwhile, old fashioned conglomerate Berkshire-Hathaway is changing hands with Warren Buffett stepping down at the age of 95. Will the new CEO keep with Buffett’s conservative investment strategy? In the Slate Plus episode: Food52 & Saks Run Out of Cash Want to hear that discussion and hear more Slate Money? Join Slate Plus to unlock weekly bonus episodes. Plus, you’ll access ad-free listening across all your favorite Slate podcasts. You can subscribe directly from the Slate Money show page on Apple Podcasts and Spotify. Or, visit slate.com/moneyplus to get access wherever you listen. Podcast production by Jessamine Molli and Cheyna Roth. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hello, welcome to Slate Money, your guide to the Business and Finance News of the Week. I'm
0:14.0	Felix Salmon of Bloomberg. I'm here with Elizabeth Spires, New York Times. Hello. I'm here with
0:18.7	Emily Peck of Axios. Hey, Felix.
0:21.7	And we are in 2026.
0:23.7	Finally, we have put 25, 25 behind us.
0:26.4	We never need to think about it ever again.
0:28.4	Wait, actually, we're going to spend a whole fucking episode talking about 2025.
0:33.4	It was a really interesting year.
0:35.2	A lot of important things happened.
0:37.0	And we just want to talk about what happened in the stock market, which was kind of surprising. What happened in the deal making market? What's going on with Berkshire Hathaway? And yeah, maybe if we understand what happened last year, I kind of have slightly clearer eyes going into this one. It's a meaty, all-encompassing conversation,
0:57.5	and it is coming up on Slate Money.
1:05.5	Where do you find a clear signal in a world of static?
1:09.3	In a time of rapid change, cut through the noise.
1:12.4	The Economist goes beyond the headlines to decode the forces shaping today and defining tomorrow.
1:18.8	Get the full story.
1:20.3	It's more than news.
1:21.5	It's a trusted global perspective.
1:23.8	The Economist know which way is up.
1:27.7	Uh-huh.
1:33.3	Welcome to the new year.
1:35.1	Welcome to the year.
1:36.0	Emily, can you sum up 2025 in like a noise of your lips?
	...

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