What the Market Crash Says About How Investing Works
Odd Lots
Bloomberg
4.5 • 2K Ratings
🗓️ 7 May 2020
⏱️ 45 minutes
🧾️ Download transcript
Summary
We’ve seen a huge market crash this year and a number of firms reporting portfolio losses. So why were so many big investors crowded into the same trades, and what does it say about investing as a whole? Should investors be playing up to their competitive advantage, or following the crowd to profit from momentum? Steven Abrahams, head of investment strategy at Amherst Pierpont Securities, has written a new book about competitive advantages in investing. We talk to him about how different types of investors place their money and why some portfolios can survive better than others.
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| 0:00.0 | On December 4th and 5th, against the backdrop of the United Nations Climate Change Conference, |
| 0:05.2 | Bloomberg Green will convene the foremost leaders in business, finance, policy, academia, |
| 0:10.3 | and NGOs for candid conversations focused on creating solutions to support |
| 0:14.9 | the goals set forth at COP28. Join our community of global influencers and |
| 0:19.5 | problem solvers in Dubai to build connections, inspire innovation, and challenge the status quo in the |
| 0:25.1 | battle against climate change. Register at Bloomberg Live.com slash B Green Radio. Hi, Oddbots, listeners. Joe and I are working our way through a pretty big backlog of episodes. So what that means is what you are about to hear is something that was |
| 0:46.8 | recorded quite a while ago. We recorded this one back on March 23rd. We were in the midst of the big market crash back then, but we hadn't |
| 0:57.7 | really seen the effects of that crash work their way through the financial system. |
| 1:02.6 | So you're going to hear Joe and I talk a lot about how weird it is |
| 1:06.2 | that we haven't seen any big trading blow-ups just yet. |
| 1:11.2 | Of course, since March 23rd, we have had a few, notably a big oil fund in Singapore |
| 1:18.3 | and also a hedge fund called Malachite in New York. I think if anything it makes the episode more interesting and the |
| 1:28.0 | themes discussed probably more impression. So hope you enjoy. Thanks for listening. Hello and welcome to another episode of The Odd Thoughts Podcast. I'm Tracy Allaway. |
| 1:55.2 | And I'm Joe Wiesenthal. So, Joe, you know what I've been thinking about quite a lot recently? |
| 2:01.2 | Um, well, I don't know, is it the same thing that literally everyone across the entire world |
| 2:08.9 | can't stop thinking about and dreaming about and talking about, or is there something else going on? |
| 2:14.0 | Wait, are you thinking of the virus or the market sell-off? |
| 2:18.0 | I think I've been exposed to financial markets for too long because they're sort of both |
| 2:22.9 | entwined in my mind. I literally like dreamed last night |
| 2:27.8 | about both the virus and the market crash and I have not thought about anything else so but no what is the specific |
| 2:35.8 | thing that you yourself are thinking about these days okay it's kind of an offshoot of the |
| 2:41.0 | market crash and it's basically investor blow-ups. |
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