The Compound and Friends

It's Like Free Money

100 snips
Dec 12, 2025
Tracy Alloway, a markets journalist and co-host of Bloomberg's Odd Lots, and Joe Weisenthal, an editor at Bloomberg and fellow Odd Lots co-host, delve into fascinating discussions about market trends. They explore the Dow nearing 50,000, how AI hype may not meet revenue realities, and the Fed's recent 25bp cut affecting liquidity. The duo also critiques Time's AI 'Person of the Year' cover and debates the $8 trillion in money market funds, pondering if that constitutes actionable capital in the stock market.
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ANECDOTE

Drinks That Ruined A Beer Forever

  • Tracy recalled meeting Josh over drinks where she now can't drink Blue Moon again after overindulging.
  • The hosts joked about that night as the origin of an enduring memory.
INSIGHT

Public Markets Depend On Private Opacity

  • Public markets rely on opaque private companies (like OpenAI) and seek crumbs of information to price exposures.
  • This opacity creates uncertainty for valuing related public equities.
INSIGHT

Fed's Active Liquidity Management Shift

  • The Fed cut rates 25 bps and announced $40B/month T-bill purchases to manage liquidity proactively.
  • They will ramp purchases around liquidity stress points rather than on a fixed schedule.
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