Katie and Matt talk about dreams, Jane Street's Indian options trade, XAI, Tesla governance, sports gambling and prediction markets.

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Katie and Matt talk with Gappy Paleologo of Balyasny Asset Management about gardening leave, what makes a good quant researcher, factor models, the social function of hedge funds, AI and journalists as portfolio managers.

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Matt and Katie discuss Boomer-candy ETFs, autocallables, private-credit trading, volatility laundering and Mark Zuckerberg's hiring spree.

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Matt and Katie talk with their guest, Cliff Asness of AQR, about momentum, meme stocks, value, market timing, publishing, academics, explaining factors, how much to charge for alpha, private assets and machine learning.

You can also watch this episode on YouTube.

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Matt and Katie discuss the Michael Saylor vs. Jim Chanos debate, financial gibberish, the mid-2000s federal clerkship hiring plan, private equity recruiting and mid-frequency trading.

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Katie and Matt discuss Wells Fargo’s asset cap, credit ratings conflicts of interest, private credit controversies in the insurance business, why BBB- is the best rating, Main Line real estate prices, Marshall Wace, hiring cheaters at hedge funds and signals from the sell side.

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Katie and Matt discuss Katie’s new bird, the legality of tariffs, the TACO trade, rooting for the nondelegation doctrine, implicit guarantees, the money to be made if Fannie Mae and Freddie Mac are re-privatized, stuffing Bitcoins into public companies and owning the global financial asset portfolio.

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Katie and Matt talk with Ryan Patch and Jon Seale of Great Gotham Challenge about building puzzle hunts for the hedge fund manager who has everything.

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