What Goes Up

Peter Cecchini, founder and CEO of AlphaOmega Advisors, discusses the crazy year that was 2020 in markets, and gives his outlook for what’s to come. Topics include efficacy of the Federal Reserve, a boom in retail investor trading and zombie companies.Mentioned in this podcast:Day Traders Put Stamp on Market With Unprecedented Stock FrenzySustainability SPAC Queen's Gambit Growth Capital files for a $225 million IPOSee omnystudio.com/listener for privacy information.

Anastasia Amoroso, head of thematic strategy at J.P. Morgan Private Bank, discuss emerging investing themes, including deploying leverage in credit-market investments. She also discusses the outlook for green energy, and other top themes her team is advising.Mentioned in this podcast:2020 Has Been a Great Year for Stocks and a Bear Market for HumansSee omnystudio.com/listener for privacy information.

Danton Goei, who runs global investment strategies at Davis Funds, discusses what opportunities he's seeing around the world as the end of the coronavirus pandemic comes into sight. Yes, it’s a frothy market in the U.S., he says, but there are still opportunities in America and abroad.Mentioned in this podcast:Trading at 369% Premium, New Crypto Fund Astounds Even BullsSoaring Stock Valuations No Big Deal to Powell Next to BondsSee omnystudio.com/listener for privacy information.

In the wake of Covid-19, corporations this year issued trillions of dollars of debt to make it through. Now, according to Josh Lohmeier, head of North American investment-grade credit at Aviva Investors, the big question for next year is: What should and will they do with all that cash?See omnystudio.com/listener for privacy information.

The recent rotation in the equity market has made the once no-brainer decision to bet big on big tech a little more complicated. Jacqueline Remmen, senior wealth strategy associate at UBS Private Wealth Management, discusses how she’s advising clients what to expect in the next phase of the market.Mentioned in this podcast:Tesla’s S&P 500 Entry Takes Away Secret Weapon for Stock PickersThe Bull Market Rotates Away From Tech-Driven Mega-CompaniesSee omnystudio.com/listener for privacy information.

Randy Dishmon doesn't care much for investment strategies based on lumping stocks into boxes with labels like growth and value. The manager of the Invesco Global Focus Fund, which has returned 46% this year and consistently ranks in the top 1% of similar funds, joins the podcast to discuss how he approaches investing and the recent rotation in equities. Mentioned in this podcast:‘Very, Very Busy Week’ Wipes Out Traders’ Usual Holiday DoldrumsChaos in Factor Land Puts Quants on Hunt for Accidental ExposureSee omnystudio.com/listener for privacy information.

Barely-there yields in the bond market have led to a search for other strategies to diversify portfolios with assets that will cushion the blow from any future drop in stocks. Peter van Dooijeweert, managing director of multi-asset solutions at Man Solutions, a division of hedge-fund firm Man Group, joined the latest episode of the “What Goes Up” podcast and talked about some possible alternatives.Mentioned in this podcast:In New 60/40 Portfolio, Riskier Hedges Are Displacing U.S. Debt|Got Lucky, Got It Right: How Newbie Stock Jocks Beat the MarketSee omnystudio.com/listener for privacy information.

Promising results in a coronavirus vaccine test triggered a wild rotation in the stock market this week. Lauren Goodwin, economist and strategist at New York Life Investments, joins the latest episode of the “What Goes Up” podcast to discuss the opportunities and pitfalls for investors looking to position for a post-Covid world.Mentioned in this podcast:These Charts Show the Euphoria the Pfizer Vaccine News CreatedRotation Trade Turns to Duck-and-Cover as Coronavirus Runs AmokSee omnystudio.com/listener for privacy information.

Many investors, like most Americans, have been fixated on the political drama of this year’s presidential election. But when it comes to picking stocks, Jamie Cuellar has kept his eye on the longer term. He’s the manager of the Buffalo Small Cap Fund, which has outperformed 99% of peers in 2020 as well as over the past one, three and five years, according to data compiled by Bloomberg. Cuellar joins the latest episode of the “What Goes Up” podcast to discuss the election, his fund’s strategy, and why small companies are still an opportunity for active fund managers to show their value in a climate that’s more and more dominated by passive and smart-beta strategies. Bloomberg Executive Editor Chris Nagi also joins the show to discuss markets.Mentioned in this podcastForget Biden Vs. Trump: The Incumbent Is Winning in Stock Market‘Scrap That’: Traders Lose the Plot in Night of 1,000 TwistsSee omnystudio.com/listener for privacy information.

The velocity of money is an attempt to estimate the average number of times a dollar changes hands. It crashed to record lows during the pandemic as the savings rate surged. But it had been trending downward for more than two decades prior to that. Adrian Helfert, a fund manager at Westwood Holdings, discusses what it means for markets. He also talks about how he and investors are positioned for the upcoming election and other hot financial topics. Mentioned in this podcast:Investor Bill Gross accused of blaring 'Gilligan's Island' song on loop to torment neighborVirus Threat Overshadows Election, Earnings in Market SelloffSee omnystudio.com/listener for privacy information.

The dollar has been in a slump against major currencies in the last few months, and betting on more declines has become a popular trade. Wells Fargo macro strategist Zachary Griffiths discusses how the election results could interrupt or continue the trend.Mentioned in this podcast:Robinhood’s Addictive App Made Trading a Pandemic Pastime Banks Brace for ‘Big Bang’ Switch on $80 Trillion Worth of SwapsSee omnystudio.com/listener for privacy information.

The shift to commission-free trading and the stay-at-home environment of 2020 helped usher a new army of day traders into the stock and equity-options markets. How will this influential cohort affect markets now that they account for a share of volume that rivals hedge funds?Liz Ann Sonders, chief investment strategist at Charles Schwab, discusses this, the upcoming elections, and other market topics.Mentioned in this podcast:Mysterious Mega-Flows Rotate Through World’s Biggest Tech ETFDay-Trader Options Action Is Spotted Yet Again in Nasdaq SurgeSee omnystudio.com/listener for privacy information.

An antitrust report by Democratic staffers for the House of Representatives this week sent chills down the spine of investors holding shares of the major U.S. technology and internet companies that have driven the bull market. The report signals the likelihood of heightened regulatory scrutiny over these companies, especially if Democrats win the White House and both chambers of Congress in the November elections in a so-called “blue wave.” Max Gokhman, head of asset allocation at Pacific Life Fund Advisors, shares his thoughts on this and other market developments.See omnystudio.com/listener for privacy information.

A stock market that sometimes seems bulletproof in the face of adversity can make it challenging for hedge funds looking for companies to sell short in anticipation of share-price declines. Ben Axler of the activist fund Spruce Point Capital Management discusses where he’s looking for opportunities, including in special-purpose acquisition companies.Mentioned in this podcast:Blistering IPO Market Is Rekindling Dot-Com Era Froth FearsThe Tiny Activist Fund That Reaped 24% Return by Unearthing ‘Cockroaches’See omnystudio.com/listener for privacy information.

Warren Buffett has referred to the massive cash pile at his company Berkshire Hathaway Inc. as his “elephant gun,” meaning he’s always on the prowl for an opportunity to shoot large sums of money at a big acquisition or investment. While he made a few deals this year as the Covid-19 pandemic roiled markets, he hasn’t been quite as active as he was during the global financial crisis more than a decade ago.Why is that? Joining this week to discuss why is Larry Pitkowsky, co-managing partner at GoodHaven Capital Management. His GoodHaven Fund counts Berkshire Hathaway as its top holding. Pitkowsky also discusses other holdings in the fund and shares some thoughts on markets and value investing. Mentioned in this podcast:Amazon Tells Echelon Fitness to Stop Selling $500 Prime BikeCan’t-Lose Trades Falter With Inflation Expectations FlaggingSee omnystudio.com/listener for privacy information.

An explosion of trading in equity options among day-traders is suspected of helping to fuel the rally in U.S. stocks this summer. Chris Murphy, co-head of derivatives strategy at Susquehanna International Group, joins this week’s episode of the “What Goes Up” podcast to explain what happened.Mentioned in this podcast: The Wild Summer of 2020 Turned Small Investors Into WhalesReddit's Stock Threads Become a Must-Read on Wall StreetSee omnystudio.com/listener for privacy information.

The selloff in high-flying technology stocks continued this week after a breathtaking rally over the previous five months. Is the bubbling bursting, or is this just a minor setback for the perennial darlings of the market? Seema Shah, chief strategist at Principal Global Investors in London, discusses this and other important issues for the stock market.Mentioned in this podcast:A Week Like This Was a Long Time Coming for Day-Trader Faithful Options Traders Whipped Up Stock Boom With SoftBank Buying​​​​​​​See omnystudio.com/listener for privacy information.

The U.S. stock market’s melt-up seems to have ended in spectacular fashion this week, and now many on Wall Street are turning their attention to the election in November as a potential source of risk. Nela Richardson, senior investment strategist at Edward Jones, shares her take on this week’s market action and what to expect in November.Mentioned in this podcast: Low Rates Lead Investors to Look Beyond the Classic 60/40 MixVolatility Markets Brace for Election Drama Like Never Before Mystery Solved: Days Like This Are What the VIX Warned AboutSee omnystudio.com/listener for privacy information.

Politics has become one of the most-important drivers in markets and this year’s U.S. presidential election is shaping up to be the main focus of traders and investors in all asset classes. Naufal Sanaullah, chief macro strategist at hedge fund EIA All Weather Alpha Partners, discusses how he’s thinking about the market implications of the race.Mentioned in this podcast:Volatility Markets Brace for Election Drama Like Never BeforeNotorious B.I.G.’s Plastic Crown May Fetch $300,000 at Sotheby’sKFC Suspends `It’s Finger Lickin’ Good’ Slogan Amid PandemicSee omnystudio.com/listener for privacy information.

Campbell Harvey, finance professor at Duke University and a senior adviser at Research Affiliates, is well known for his research on the yield curve as a recession indicator. While no one could have possibly predicted the cause of this recession – a global pandemic – it’s still true that an inverted yield curve once again predicted an economic downturn. Harvey joins the latest episode of “What Goes Up” to discuss what the bond market is signaling now, along with his new paper on gold.Mentioned in this podcast:Gold, the Golden Constant, COVID-19, 'Massive Passives' and Déjà VuFed Minutes Show FOMC Backs Away From September Guidance ShiftSee omnystudio.com/listener for privacy information.

Robert Hormats, who has worked in senior economic and trade policy roles under five different U.S. presidents and spent 25 years at Goldman Sachs Group Inc., believes the Covid-19 pandemic has forced the government to embark on what could be considered an involuntary experiment with Modern Monetary Theory.Now a managing director at wealth-advisor Tiedemann Advisors, Hormats discusses MMT, the U.S.-China relationship, prospects for a coronavirus vaccine – and how investors should think about all of it.Mentioned in this podcast: A Beginner’s Guide to Modern Monetary TheoryMeet the Psychic That Big-Money Wall Street Traders Depend OnSee omnystudio.com/listener for privacy information.

At the benchmark level, equity levels by many measures look stretched. But Katie Koch, co-head of fundamental equity at Goldman Sachs Asset Management, says there’s plenty of areas within the stock market that offer good value for investors right now. She discusses which industries and companies she likes, including a couple that have been ravaged by the coronavirus like restaurants and retail.Mentioned in this podcast:How a Goldman Sachs Manager Is Preparing For a Post-Covid WorldSee omnystudio.com/listener for privacy information.

Lee Ferridge, head of North America macro strategy for State Street Global Markets, has been bullish on gold since late 2018, when an attempt at quantitative tightening by the Federal Reserve sent markets into a tailspin. From that moment, he knew the central bank’s balance sheet would only grow larger, a boon for real assets like gold. Now, the precious metal is smashing records, beating both stocks and bonds in 2020.Mentioned in this podcast: Kodak Pivots to Drugs After Abandoning Photography, Crypto At Center of ‘Erratic’ Market Moves Is a Raging Recovery DebateSee omnystudio.com/listener for privacy information.

Rob Arnott, chairman and co-founder of Research Affiliates, has spent a lot of time studying market bubbles. He shares what he’s learned, and give his takeaways about the current environment for investors.Mentioned in this podcast:Rob Arnott Says It’s Insanely Stupid to Chase Market BubblesU.S. Stock Market Bull Run In Recession Makes Investors AnxiousYes. It's a Bubble. So What?See omnystudio.com/listener for privacy information.

The killers of Berta Caceres had every reason to believe they’d get away with murder. More than 100 other environmental activists in Honduras had been killed in the previous five years, yet almost no one had been punished for the crimes. Bloomberg’s Blood River follows a four-year quest to find her killers – a twisting trail that leads into the country’s circles of power.Blood River premieres on July 27.See omnystudio.com/listener for privacy information.

Based in Sydney, Australia, David Adams, the chief investment officer at Reminiscent Capital, picked up on funding market stress early on. That helped his firm’s Asia-focused macro strategy implement a multi-step trade that delivered a 16.5% return in the first quarter of 2020. He joins the latest “What Goes Up” podcast to discuss how it worked, and what markets are signaling now.Mentioned in this podcast: Bad Breath Offers a Rare Payoff in Listerine-Royalty Stake Sale Banksy's Covid-19 WarningSee omnystudio.com/listener for privacy information.

The furious rebound in the U.S. equity market over the last few months runs the risk of turning into a "melt-up," according to Wells Fargo strategist Anna Han. She explains what’s driving the surge and why it’s worrying.Mentioned in this podcast:Bleak Message of Economic Pain Underlies Tech’s Market DominanceTesla Short ShortsSee omnystudio.com/listener for privacy information.

The U.S. stock market headed into the Fourth of July holiday with a full head of steam after the best quarterly advance since 1998. Yet risks lie ahead this summer. Chief among them is the possibility that Congress will fail to deliver additional fiscal support for the economy as the coronavirus continues to spread, according to Jack Janasiewicz, strategist and portfolio manager at Natixis Investment Managers. Also joining the show is Bloomberg reporter Felice Maranz, who discusses the state of affairs with bank stocks and what to watch in the upcoming earnings season.Mentioned in this podcast:No One Can Agree on Where the Stock Market Will Be in Six MonthsStock Bulls Need Proof They Were Right to Go All In on RecoverySee omnystudio.com/listener for privacy information.

It’s a perennial debate among market wonks: when will growth stocks finally stop outperforming value stocks for more than a short period? And what has driven the outperformance? Daniel Davidowitz, co-head of the large-company growth team at Polen Capital Management, offers his take. First, he says, you have to deconstruct the meanings of “growth” and “value.”Mentioned in this podcast: Is Value Dead? Debate Rages Among Quant Greats From Fama to AQRStocks’ Covid Angst Takes Violent Turn After Simmering for DaysSee omnystudio.com/listener for privacy information.

This year’s volatility in markets has highlighted how investors can protect their portfolios with tail-risk hedging strategies. Meb Faber, co-founder and chief investment officer of Cambria Investment Management, joins this week to discuss the thinking behind his firm’s tail-risk ETF (ticker: TAIL), and offer his thoughts on the state of markets.See omnystudio.com/listener for privacy information.

Stocks crashed back to Earth this week after a breathtakingly fast rebound from the bear market of February and March. What caused the plunge? And is the rally over?Medley Global Advisors macro strategist Ben Emons and Bloomberg’s Cameron Crise discuss the drivers of the wild week in markets and the hoards of newly minted day-traders who took advantage of the rebound on the latest episode of the “What Goes Up” podcast.Mentioned on this podcast: Hundreds of Thousands of Tiny Buyers Swarm to Insolvency StocksThe Stocks-Only-Go-Up Strategy Falls Into a $2 Trillion DitchSee omnystudio.com/listener for privacy information.

As lockdowns are eased across the country, Americans are slowly but surely getting out of their homes and engaging with the world outside again. That provides some opportunities for investors to benefit from the next group of stocks that will perform well, according to Shawn Snyder, head of investment strategy at Citigroup’s Personal Wealth Management unit. Still, some shares that did well during the lockdown represent the “future of America” and aren’t just flashes in the pan, he says.Mentioned in this podcast: The Really Big Stock Bull Case Says Fed Stimulus Doesn’t Go AwayBears Thwarted Again by Stock Market That Believes in RecoverySee omnystudio.com/listener for privacy information.

Investors across Wall Street are beginning to wonder if the risk rebound has further room to run. Fed policy is extremely stimulative, economies are reopening, and slices of the market hit hard by Covid-19 are joining in on the rally. But GMO, the famous money manager founded by Jeremy Grantham, isn’t buying it.Mentioned in this podcast: Investors Pile Into Stocks That Win in a Full Economic RecoveryU.S. Corporate Bond Sales Smash Record, Soaring Over $1 TrillionBored Day Traders Locked at Home Are Now Obsessed With OptionsSee omnystudio.com/listener for privacy information.

What explains the resiliency of the U.S. stock market, despite the worst economic data in most of our lifetimes? Susan Schmidt, head of U.S. equities at Aviva Investors in Chicago, says the market is already looking ahead to next year. That doesn’t mean there won’t be some more volatility in the near term.Mentioned in this podcast: U.S. Equity Markets Stubbornly Ignore the Doom EverywhereExtreme Behavior Is on Display Everywhere in the Stock MarketBlack Swan Author Spars With Quant Legend Over Tail Risk HedgesSee omnystudio.com/listener for privacy information.

It was 10 years ago this month that the S&P 500 dropped 5% in four minutes. Now, the infamous day is known as the Flash Crash of May 6, 2010, and a decade later global markets are again facing extreme volatility – albeit in a different way. Joining the “What Goes Up” podcast this week is Liam Vaughan, the author of a new book, “Flash Crash: A Trading Savant, a Global Manhunt, and the Most Mysterious Market Crash in History,” to chronicle the historic day and how a 36-year-old day trader got caught in the middle of it all.Also on the episode is Jafar Rizvi, portfolio manager of Harding Loevner Global Small Companies & International Small Companies Funds, who helps explain how to navigate investing in global small cap firms in the wake of the coronavirus.Mentioned in this podcast:The Work-From-Home Trader Who Shook Global MarketsStock Market’s Winners Hint at Gloom Rather Than Quick ComebackSee omnystudio.com/listener for privacy information.

This is a year when unthinkable events have become commonplace. That has some investors wondering if the Federal Reserve could end up making what was previously an unthinkable move: purchasing stocks. Vincent Deluard, global macro strategist for brokerage INTL FCStone, discusses.Mentioned in this podcast:With Stocks Buybacks Halted, We’ll See How Much They MatterStock Fear Gauge Falls to Nine-Week Low After Topping 2008 HighsSee omnystudio.com/listener for privacy information.

The U.S. Treasury is auctioning a dizzying amount of bonds to pay for the government’s economic relief efforts. Will the market be able to digest this mountain of supply? Wells Fargo Securities macro strategist Zachary Griffiths discusses.Mentioned in this podcast:Bond Traders Signal the Path to Reopening Will Be Long and Bumpy​​​​​​​Kudlow Says China Will Be ‘Held Accountable’ for CoronavirusSee omnystudio.com/listener for privacy information.

As several states take tentative steps to reopen their economies following lockdowns to slow the spread of Covid-19, the big question for investors is whether a V-shaped recovery is in store. Baird strategist Michael Antonelli discusses why he believes the economic re-openings won’t be greeted with a rally in stocks. Mentioned in this podcast:Bad Data Is a Given for Wall Street Gaming Out Lockdown ExitWhat an Oil ETF Has to Do With Plunging Oil Prices‘They Don’t Know What to Say’: Company Earnings Add to ConfusionSee omnystudio.com/listener for privacy information.

They say every crisis is also an opportunity, and some trend-following investment strategies are proving that true by reaping strong returns amid the chaos in markets triggered by the Covid-19 pandemic. AlphaSimplex Group’s Managed Futures Strategy Fund is up more than 7% in 2020, reaping what the firm’s chief research strategist Kathryn Kaminski refers to as “crisis alpha.” Kaminski discusses how trend following works and how the firm’s strategy saw the crisis brewing in other markets before it sent equities into a tailspin.Mentioned in this podcast:Crisis or Correction? A Quant’s View of the Coronavirus Don’t Feel Too Relieved by the Bounce Back in Stocks Wall Street’s Bulls Drive Epic Market Split From Grim Reality The Average U.S. Stock Is Catching None of That Megacap MagicSee omnystudio.com/listener for privacy information.

The Covid-19 virus is messing with all our heads, and that can cause investors to make some classic mistakes. Meanwhile, government stimulus efforts could lead to some skewed incentives for consumers and businesses. Edward Jones investment strategist Nela Richardson, who holds a doctorate in economics, gives her diagnosis of the role behavioral economics plays in the pandemic.Mentioned in this podcast: A Bull’s Conundrum: Rally In Stocks Is Built on Staying InsideSee omnystudio.com/listener for privacy information.

While the world agonizes over grim statistics showing the growing number of victims of the novel coronavirus, professional money managers are forced to make important decisions on behalf of clients without much hard data on the economic damage being done. Diane Jaffee, senior portfolio manager at TCW Group Inc., discusses how the upcoming earnings season will help provide some much-needed information. Some highlights of the conversation are below.Mentioned in this podcast: A Lot Is Riding on Stock Bottom Calls That Worked in a Bull MarketU.S. Jobless Claims Soar to Once-Unthinkable Record 6.65 MillionEarnings Day Blowups Seen Skyrocketing With Street Flying BlindSee omnystudio.com/listener for privacy information.

Quick to fall, quick to rise -- such has been the story of the stock market. After tumbling more than 30%, this week was met with the fastest period of gains since the 1930s. But will the fierce rally last? Dan Chung, the chief executive officer of Alger, shares his thoughts and explain where the fund firm is looking for investment opportunities.Mentioned in this podcast:False Bottom or Start of Something Big: On This Rally’s StaminaExtreme Valuations, Gaping Margins and a Haven in Market StormSee omnystudio.com/listener for privacy information.

Harnessing Bloomberg's reporting from every continent, Bloomberg's daily Prognosis podcast brings the news, data and analysis you need for living in the time of Covid-19. In around ten minutes, we will explain the latest developments in health and science, the impact on individuals, industries and governments and the adaptions they are making in the face of the global pandemic. Come back every weekday afternoon for a short dose of the best information about the novel coronavirus from more than 120 bureaus around the world.First episode drops Thursday, March 26. Subscribe on Apple Podcasts, Spotify, or wherever you listen.See omnystudio.com/listener for privacy information.

While the bear market in stocks has been alarming, dislocations in the corporate credit markets are arguably more dangerous for the stability of the financial system and the economy. Winifred Cisar, head of credit strategy at Wells Fargo Securities, gives her thoughts on the situation.Mentioned in this podcast:Global Credit Market Turmoil Rips From Australia to U.S. MunisFed Feels Heat to Pump Out More Loans, Go Past Crisis-Era RulesSee omnystudio.com/listener for privacy information.

As if the last few weeks weren’t volatile enough, this one was even worse. Swings were so wild that exchange-rules forced trading halts – multiple times. Thursday saw the worst day for the S&P 500 since 1987’s Black Monday crash, and the record long bull market came to a close. Cracks are forming in the credit markets, and classic hedges aren’t working the way they should. Lauren Goodwin, an economist and multi-asset portfolio strategist at New York Life Investments, explains why she’s not yet buying into this dip. Also joining the podcast is Bloomberg MLIV blogger Kriti Gupta, who discusses what an oil-price war means for global economies and energy firms.Mentioned in this podcast:Bull Market Ends Like It Began: In Chaos, Without Any WarningCredit Market Stress Deepens With Companies Racing to Raise CashBear Market Signals Over 80% Chance of Recession Hitting U.S.See omnystudio.com/listener for privacy information.

Spasms of volatility continued to shake financial markets this week as the novel coronavirus spread in the U.S. and Europe. When will it all end and when will it be safe to buy this epic dip in the stock market? No one knows for sure. However, Naufal Sanaullah, chief macro strategist at hedge fund EIA All Weather Alpha Partners, explains what he’s looking for as a signal the tide is turning. Also joining the show is Bloomberg reporter Luke Kawa, who discusses how volatility markets are handling the turbulence.Mentioned in this podcast: Wall Street’s Pros Fess Up: ‘We Don’t Know What’s Going On’Trump Signs $7.8 Billion Virus Bill After Infections IncreaseSee omnystudio.com/listener for privacy information.

Financial markets around the world have been roiled by the spread of the novel coronavirus, and it’s unclear what if anything the Federal Reserve and other central banks can do to stop the bleeding. Kathy Jones, chief fixed income strategist at Charles Schwab Corp., joins this week’s “What Goes Up” podcast to discuss the limited impact the Fed may have. Bloomberg’s Chris Nagi also joins the discussion to discuss the historic plunge in the stock market.Mentioned in this podcast:Wall Street Seeks the Right Metaphor for the Virus MeltdownReddit’s Profane, Greedy Traders Are Shaking Up the Stock MarketSee omnystudio.com/listener for privacy information.

Flows into ProShares exchange-traded funds this year show investor appetite for investments that benefit from a declining stock market as the coronavirus threatens economic growth and investor confidence. Simeon Hyman, head of investment strategy at ProShares, and Bloomberg’s Rachel Evans explain how investors are positioning themselves amid the uncertainty. Mentioned in this podcast: Riskiest ETFs Get Green Light, But Brokers Might Not Touch ThemSee omnystudio.com/listener for privacy information.

With passive and factor investing dominating the strategies of more and more investors, one would be forgiven for thinking that traditional bottoms-up stock picking is a dying art. But they’d be wrong. This week features Glenn Gawronski, who led the JPMorgan Small Cap Equity Fund to a top 1% performance in its Morningstar category before leaving to start his own investing firm called Byron Place Capital Management. Also joining the show is Bloomberg columnist John Authers, who talks about some of his recent columns about value investing and the European debt crisis. Mentioned in this podcast:A Three-Legged Stool Approach to Finding Great Stocks To Invest In Value Investing’s Time to Shine Again Is Approaching Now We Can Say Euro-Zone Crisis Is Finally OverSee omnystudio.com/listener for privacy information.

China’s intense effort to contain the deadly new coronavirus is causing major damage to the nation’s economy and sending ripples through global financial markets. But it hasn’t shaken the conviction of Barry Gill, head of investments at UBS Asset Management, who is bullish on China’s long-term prospects as the nation continues to shift to a consumer-oriented economy. Bloomberg consumer-team editor Sally Bakewell also discusses how the coronavirus is affecting U.S. companies.Mentioned in this podcast: The Lasting Toll of a Deadly VirusTesla’s 10,000% Options Surge Leaves Stock Gains in the DustSee omnystudio.com/listener for privacy information.