Podcast Episodes for Finance Classes

Podcast episodes for Finance classes.  Primarily for my own classes, but useful in any finance class.

For economics classes, here is a list I made as well.


FOR A CORPORATE FINANCE class

A mule trader (finance is not new):
http://www.bloomberg.com/news/audio/2015-12-14/episode-6-meet-the-man-who-made-millions-trading-mules

How finance has grown:
http://www.bloomberg.com/news/audio/2016-05-27/30-how-finance-took-over-the-world

Finance at the University: http://knowledge.wharton.upenn.edu/article/why-we-cant-afford-to-ignore-higher-educations-financial-problems/

Contracts and CEO pay

1. http://www.marketplace.org/2016/07/12/economy/let-s-do-numbers-ceos-still-make-way-more-money-you
2. http://www.npr.org/sections/money/2016/02/05/465747726/-682-when-ceo-pay-exploded
3. http://www.npr.org/2015/01/01/374332473/why-cutting-a-ceo-s-pay-can-be-very-difficult
4. http://insight.kellogg.northwestern.edu/new/podcast-popup/total_compensation
5. Very difficult to measure how much a manager matters http://freakonomics.com/2012/12/27/how-much-does-a-good-boss-really-matter-a-new-marketplace-podcast/

http://knowledge.wharton.upenn.edu/article/strong-stakeholder-relationships-can-help-firms-avoid-crisis/

http://freakonomics.com/2012/01/19/is-good-corporate-citizenship-also-good-for-the-bottom-line/

Time value of money (retirement & personal finance)

Retirement planning
http://www.doughroller.net/investing/how-much-should-you-be-saving-for-retirement/
https://moneyfortherestofus.net/mny033-mind-the-gap/  ---start at 10 minutes
http://freakonomics.com/2012/01/17/retirement-kills-a-new-marketplace-podcast/


What rate of return should we assume?
https://moneyfortherestofus.net/mny009-expected-return/

Valuation

Aswath Damodaran is simply the best valuation professor there is.
http://www.bloomberg.com/news/audio/2016-10-28/ritholtz-s-masters-in-business-aswath-damodaran-interview

How to be less terrible at forecasting (Freakonomics):
http://freakonomics.com/podcast/how-to-be-less-terrible-at-predicting-the-future-a-new-freakonomics-radio-podcast/

Difficulty in reading accounting statements: http://knowledge.wharton.upenn.edu/article/possible-defog-americas-corporate-financial-reports/

Allocations: 

http://moneytreepodcast.com/mti019-modern-portfolio-theory-wrong-david-stein/

http://moneytreepodcast.com/mti083-adaptive-asset-allocation-adam-butler/


Small businesses and micro finance--
http://knowledge.wharton.upenn.edu/article/living-2-day-microfinance-breaks-cycle-poverty/

One the importance of small business finance:
http://www.goldmansachs.com/our-thinking/podcasts/episodes/8-26-2015-dina-powell.html

Market efficiency:

The value of information from space:
http://www.bloomberg.com/news/audio/2016-09-16/46-space-robots-are-helping-hedge-funds-invest

From dumpsters: (also can learn about short selling):
http://www.bloomberg.com/news/audio/2016-03-28/21-the-fraught-life-of-a-dumpster-diving-u-s-short-seller


Burton Malkiel
https://www.bloomberg.com/view/articles/2016-05-31/barry-ritholtz-s-masters-in-business-burton-malkiel-interview


John Bogle on Passive vs Active investing:
https://www.bloomberg.com/view/articles/2016-03-15/jack-bogle-s-indexing-revolution


An Insider Trader tells all:
http://www.npr.org/sections/money/2015/12/23/460689797/episode-671-an-insider-trader-tells-all

Ok, so this is not really a podcast, but it's audio and since it is my page, I am including it.  A series of newscasts on insider trading from NPR:
http://www.npr.org/tags/141715105/insider-trading

Behavioral Finance

What is behavioral finance from IBM:
http://www.ibmbigdatahub.com/podcast/finance-focus-what-behavioral-finance

Nobel Prize Winner Daniel Kahneman:
http://www.bloomberg.com/news/audio/2016-08-04/interview-with-daniel-kahneman-masters-in-business-audio

Richard Thaler (he needs no introduction)
http://origin-www.bloombergview.com/articles/2015-06-15/barry-ritholtz-s-masters-in-business-richard-thaler-interview

Does expensive wine taste better?
http://freakonomics.com/podcast/the-days-of-wine-and-mouses-a-new-freakonomics-radio-podcast/

Dr. Daniel Crosby on making good financial decisions (target is advisors)
http://www.xyplanningnetwork.com/ep-46-helping-clients-make-good-decisions-dr-daniel-crosby/

Maybe willpower is not enough:
http://freakonomics.com/podcast/when-willpower-isnt-enough-a-new-freakonomics-radio-podcast/


Scarcity: I think this is most important thing going.  I see it/live it every day.
http://www.lse.ac.uk/newsAndMedia/videoAndAudio/channels/publicLecturesAndEvents/player.aspx?id=3089

Fear of scarcity is a big thing.
http://www.npr.org/sections/money/2011/11/04/142016962/the-friday-podcast-how-fear-turned-a-surplus-into-scarcity


IPOs and Corp Fin
Why firms are waiting longer to go public:
http://www.mckinsey.com/industries/high-tech/our-insights/anatomy-of-a-unicorn-why-tech-start-ups-are-staying-private

Governance:

CEO transitions:
http://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/ceo-transitions-the-science-of-success

ESG from Masters in Business:
http://ritholtz.com/2016/09/books/


ESG investing goes mainstream
from Goldman Sachs:
http://www.goldmansachs.com/our-thinking/podcasts/episodes/04-21-2016-john-goldstein.html
http://www.goldmansachs.com/our-thinking/podcasts/episodes/7-21-2015-hugh-lawson.html

Impact investing:
http://www.goldmansachs.com/our-thinking/podcasts/episodes/4-15-2015.html

Market for Corporate Control:

* Horizontal deals and monopolies
http://www.npr.org/sections/money/2013/02/23/172724026/episode-438-mavericks-monopolies-and-beer

* A look at Tesla and Solar City
http://knowledge.wharton.upenn.edu/article/will-teslas-merger-with-solarcity-shine/


10 years of Mergers and acquisitions (2006-2016)
http://www.strategyand.pwc.com/global/home/what-we-think/multimedia/podcasts/mm-mergercast_display/decade-of-mergers-and-acquisitions

Divestitures and carveouts (not the most exciting, but good content)

1. http://www.strategyand.pwc.com/global/home/what-we-think/multimedia/podcasts/mm-mergercast_display/hidden-value-nasty-surprises-part-1
2. http://www.strategyand.pwc.com/global/home/what-we-think/multimedia/podcasts/mm-mergercast_display/hidden-value-nasty-surprises-part-2

IPO and mergers/acquisitions (what it is like as an Investment banker)
http://www.bloomberg.com/news/audio/2016-10-04/interview-with-ventresca-myers-masters-in-business-audio

Debt:

Country level debt:
http://www.npr.org/sections/money/2011/07/20/138518262/the-tuesday-podcast-how-much-debt-is-too-much

Dividends:

https://radicalpersonalfinance.com/financial-independence-via-dividend-investing-interview-with-jason-from-dividend-mantra-rpf0096/

Buybacks
http://www.marketplace.org/2016/06/08/world/profit-buybacks


Derivatives and Hedging:
http://www.npr.org/sections/money/2012/10/17/163038597/ask-a-banker-whats-a-derivative

A look at one options contract (Soybeans) from the CME (my advice, skip the first few minutes):
http://www.cmegroup.com/education/options-insider-a-deep-dive-into-soybean-options.html

ok, so this may not be super exciting, it is good material.
https://capitalistexploits.at/2016/10/hedging-extraordinary-risk/

What is the VIX? https://optionalpha.com/vix-index-22197.html

Your financial fragility matters
https://soundcloud.com/investing/mny055-are-you-financially-fragile-or-antifragile


Low cost investing:

Bill McNabb is CEO of Vanguard.  Both of these are great (about a year apart) from Masters in Business
:
* http://www.bloomberg.com/news/audio/2016-10-21/interview-with-william-mcnabb-masters-in-business-audio
* http://www.bloomberg.com/news/audio/2015-05-15/vanguard-ceo-bill-mcnabb-masters-in-business-audio-



Trends:

FinTech
http://www.goldmansachs.com/our-thinking/podcasts/episodes/01-20-2016-don-duet.html

BlockChain:
http://derivsource.com/content/blockchain-not-panacea

Related articles

• Assorted Tuesday links
• Aswath Damodaran Session 3: The Building Blocks for Intrinsic Value & Risk Free Rates

Podcast episodes for economics classes

Here are some great podcast episodes for economic classes.  I use them (either reference them or make them available to my students).

 Remember, my linking to them is not an endorsement of everything they say, but rather a way of getting us all to think about things a little differently)

Economic Podcast Episodes

* Why economics and politics don't mix:

*  Introducing GDP: http://www.npr.org/sections/money/2014/02/28/283477546/the-invention-of-the-economy

* Globalization: http://www.npr.org/sections/money/2016/09/23/495226796/episode-725-trade-show

* Textbook prices: http://www.npr.org/sections/money/2014/10/03/353300404/episode-573-why-textbook-prices-keep-climbing

*   Externalities: http://www.npr.org/2015/07/17/421490567/how-did-a-medical-miracle-turn-into-a-global-threat

* A carbon tax (short): http://www.npr.org/sections/money/2013/06/28/196355493/economists-have-a-one-page-solution-to-climate-change

* Sustainability and Economics: http://www.npr.org/2015/07/17/421474018/what-can-a-small-town-in-england-teach-us-about-resilience

* The afterlife of a t-shirt:  http://www.npr.org/sections/money/2015/08/26/434988401/episode-502-the-afterlife-of-a-t-shirt

* The interconnectivity of Globalization: http://podacademy.org/podcasts/the-butterfly-defect-how-globalization-creates-systemic-risks-and-what-to-do-about-it/

* Protectionist policy and Canadian milk prices  FT.com http://podcast.ft.com/?p=3771

* A look at an early strike (I do not think it was the FIRST strike :) )
: http://www.npr.org/sections/money/2015/10/16/449264812/episode-658-strike-one

* Forecasting is hard.  http://freakonomics.com/podcast/how-to-be-less-terrible-at-predicting-the-future-a-new-freakonomics-radio-podcast/

* What is inside TPP?  http://www.npr.org/sections/money/2015/11/06/455055023/episode-662-omg-tpp

* The economics of education: http://www.highlanderinstitute.org/podcast/episode-025-russ-roberts-on-the-economics-of-education/

* Adam's Smith's Invisible Hand (gets two!)
  1. Pro:  https://www.stlouisfed.org/education/economic-lowdown-podcast-series/episode-3-the-role-of-self-interest-and-competition-in-a-market-economy
 2. Con:    https://www.theguardian.com/commentisfree/audio/2011/oct/06/big-ideas-podcast-adam-smith-audio

* a look at the Fed: http://www.bloomberg.com/news/audio/2016-09-21/benchmark-special-here-s-what-you-need-to-know-about-the-fed

*  A look at price inelasticities: Why are weddings so expensive.  http://www.bloomberg.com/news/audio/2016-08-31/53-why-are-weddings-so-expensive-blame-econ-101

* Robert Frank on Income Inequality: https://origin-www.bloombergview.com/articles/2016-05-17/barry-ritholtz-s-masters-in-business-robert-frank-interview

* Economics and immigration: http://www.bloomberg.com/news/audio/2016-07-06/45-the-economics-behind-the-boom-in-anti-immigration-sentiment

* The losers in a global economy?  Or "the reason for Brexit and Populism in politics?" http://www.bloomberg.com/news/audio/2016-05-18/38-the-quiet-epidemic-that-s-killing-white-americans-in-droves

* how widespread this is: http://www.mckinsey.com/global-themes/employment-and-growth/income-inequality-why-so-many-households-are-not-advancing

* Slower growth affects the "American Dream"  http://www.bloomberg.com/news/audio/2016-03-03/episode-27-can-slow-growth-and-the-american-dream-coexist

* Robert Preston on inequality: http://bbc.in/1uTbXVk

*  Is Africa the next boom?  /https://www.brookings.edu/podcast-episode/made-in-africa-manufacturing-and-economic-growth-on-the-continent/

* Why the stock market and the Economy do not always move together: http://www.goldmansachs.com/our-thinking/podcasts/episodes/02-25-2016-hatzius-currie.html



One that is just fun!
http://www.bloomberg.com/news/audio/2016-04-15/24-meet-the-most-important-country-singer-in-economics

The best microstructure example for class I have ever seen

The floor of the New York Stock Exchange. (Photo credit: Wikipedia)

This is really cool.



So most finance classes traditionally talk about how trading floors worked in the past.  You know the drill: open outcry, specialist, floor brokers, etc.  But trading has changed so much, that armed with that knowledge only one would barely recognize today's marketplace made up of many exchanges, OTC, and darkpools.



This week's Masters In Business Podcast  with Barry Ritholtz had the Keith Ross the CEO of PDQ on.  It was very enlightening.  They have a great model and it deserves to be shown in classes.



What do they do?

Instead of operating like a "normal" High-Frequency friendly exchange, they slow things down (milliseconds are a big deal in this space) and while waiting, pings other accounts for their quotes.  THIS IS KEY: they do not say if buying or selling, nor the size of order.  So they then get back the quotes from everyone and essentially have recreated the old specialists' book.  The customer then gets the best price.  This, in my mind, is pure genius.  Well worth listening to the podcast.

You can also read about PDQ here:

About PDQ ATS | PDQ ATS: "PDQ’s pioneering equity auction products were developed with a singular purpose – to provide a more effective market structure for all participants. As an independent equity market where modern technology benefits all, PDQ uniquely solves today’s market issues by putting control back in the hands of the trader and fostering competition to provide best prices among liquidity providers. When trading at PDQ, there is a short pause after entering an order. During the pause, liquidity seekers initiate an anonymous, symbol-only solicitation of trade responses from participating liquidity providers. The responses are aggregated and matched to the initial order in an auction framework that offers improved pricing opportunities and virtually eliminates gaming and spoofing."

Here is more with a picture that might explain it better:
http://www.marketswiki.com/wiki/PDQ_ATS,_Inc.


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