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On The Tape

The Bad News Bears & A Conversation Michael Mauboussin

On The Tape

RiskReversal Media

News, Business, Investing, Business News

4.6757 Ratings

🗓️ 23 December 2022

⏱️ 72 minutes

🧾️ Download transcript

Summary

Guy Adami and Danny Moses discuss SBF’s $250 million bail and David Teper’s bearish outlook going into 2023 (5:15). The Bank of Japan shook markets on Tuesday, what do we make of the dollar/yen trade (8:40)? Central bankers continue to take action, should we be buying gold as a hedge (10:30)? Micron will cut 10% of its workforce due to a lack of demand for computer chips, will the tech downturn leak into 2024 (14:15)? The Tesla sell-off continues, could we see a Friday Night Dirty? (19:35). CarMax is putting a hold on stock buy backs, citing a “used-vehicle recession” (24:45). The OG meme stock AMC is ticking off its loyal apes by attempting to raise capital and complete a reverse stock split (27:30). Danny dishes out his picks for Week 16 in the NFL (31:25). After the break, Guy & Dan interview Michael Mauboussin about his experience on Wall Street and how much it has evolved since his career began (37:00). Micheal also discusses his role at Columbia University, how does he blend academic knowledge with “street” knowledge (48:00). Michael gives us insight into what makes financial media so bad at predicting market futures (53:30). It wouldn’t be an episode of On The Tape if we didn’t discuss the Federal Reserve and interest rates (1:03:15). We wrap with a lesson on how to keep your convictions in check (1:09:00). Check out our show notes and transcript here   ---- See what adding futures can do for you at cmegroup.com/onthetape.  ---- Shoot us an email at [email protected] with any feedback, suggestions, or questions for us to answer on the pod and follow us @OnTheTapePod. We’re on social: Follow Dan Nathan @RiskReversal on Twitter Follow @GuyAdami on Twitter Follow Danny Moses @DMoses34 on Twitter Follow us on Instagram @RiskReversalMedia Subscribe to our YouTube page

Transcript

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0:00.0

In the summer of 1976, I was 12 years old.

0:06.3

We just go to the movies with my grandmother and we begged her to take us to a movie

0:12.0

that was coming out because it was about Little League and all those things.

0:15.9

And I will tell you, when we went and saw it, I laughed my stones off.

0:20.3

And we're going to talk about the movie

0:21.9

and why that's relevant. But by the way, you're listening to the On the Tape podcast. I'm Guy Adami.

0:27.8

I'm always joined by the extraordinarily handsome Danny Moses and Dan Nathan. Dan will join us later

0:35.4

for a conversation with the great Mike Mobison. I encourage you all to listen.

0:39.4

Mike is an absolute legend in our business. But before we get to him, Danny, how are you?

0:44.8

I'm good, buddy. How are you doing? How was your birthday?

0:47.4

59, December 18th. As you've mentioned a number of times, I share a birthday with the great Keith Richards, who's obviously

0:54.8

quite older than I. He's 20 years older, but Brad Pitt is the same day. I believe that

0:59.7

Steven Spielberg is on the 18th. Christina Aguilera. It is a laundry list of luminaries on December

1:07.0

18th. Wow. I look forward to next year's celebration. We'll do a big one for you again. Yep, we'll do it. I'll get there. You'll get there. By the way, I'm mentioning 1976. And the movie,

1:15.6

of course, is the bad news bears. And there's going to be a rhyme to my reason. So just bear with me

1:20.5

here, Danny. The movie is fantastic. Obviously, the great Walter Mathau as Buttermaker. You obviously have Tatum O'Neill as Amanda Wurlitzer,

1:30.9

the great Jackie Earl Haley as Kelly Leak, and then some other dignitaries as well. It was a great

1:37.8

movie. But I mentioned the movie because the absurdities of it, but one of the absurdities is

1:43.5

they need to get the team sponsored

1:46.8

and all the good sponsors were gone. So Walter Mathau decides to go and get a company called

1:53.4

Chico's bail bonds to sponsor the team. And that's the great line, right? In the back of their

1:59.3

jerseys, it's Chico's bail bond.

...

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