Episodes

  • Haseeb Qureshi: The TAM of Crypto - [Making Markets, REPLAY]

    Haseeb Qureshi: The TAM of Crypto - [Making Markets, REPLAY]
    Jul 4 2025
    Today, we are revisiting my conversation with Haseeb Qureshi, managing partner at Dragonfly Capital. From making millions through poker before the age of 21, to going viral for an article on negotiation, to being hired personally by Naval Ravikant to be a crypto VC, Haseeb’s life could be a Netflix movie. We dive into that backstory and all he’s learned about the relationship between work, money, and happiness. We also talk about the Bitcoin ETF, Dragonfly Capital, his biggest miss as a VC, and how he approaches investing today. Please enjoy this fascinating and wide-ranging conversation with Haseeb Qureshi. For the full show notes, transcript, and links to the best content to learn more, check out the episode page HERE. ----- This episode is brought to you by 10 East. 10 East is a platform where qualified investors can co-invest on a deal-by-deal basis across private equity, private credit, real estate ventures, and other one-off opportunities typically unavailable through traditional channels. It's no surprise that founders, executives, and portfolio managers from leading investment firms are using 10 East to diversify their personal portfolios. Their level of sourcing and diligence is institutional grade. To learn more, check out 10east.com. ----- Making Markets is a property of Colossus, LLC. For more episodes of Making Markets, visit joincolossus.com/episodes. Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here. Follow us on Twitter: @makingmkts | @ericgoldenx Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes: (00:00:00) Welcome to Making Markets (00:01:27) First question - Haseeb’s stance on the current developments in the crypto world (00:04:26) Whether the established precedent for Bitcoin ETF negates the need for further court cases (00:10:50) Advantages of trading ETFs over traditional assets and whether it could entice large institutions into cryptocurrency trading (00:15:16) Haseeb’s background in poker and the Portuguese prodigy story (00:24:10) Comparing fulfillment earning wealth between poker playing and trading in crypto (00:28:10) Patterns of disillusionment in people who make significant wealth in crypto (00:38:15) How Haseeb’s experience as a founder shaped his perspective on venture capital (00:46:42) How Haseeb first got together with Naval Ravikant (00:54:24) The initial vision for launching Dragonfly (00:58:55) How common it is for founders to relocate to other countries for crypto-related ventures (01:01:21) The size and scope of Dragonfly today and the acquisition of Metastable (01:09:01) Navigating the challenge of not second-guessing decisions (01:14:01) The challenges the industry has had with consumer adoption, particularly in cases like NBA Top Shot and Keone (01:21:31) Where Haseeb thinks the crypto market is currently in the cycle Learn more about your ad choices. Visit megaphone.fm/adchoices
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    1 hr and 23 mins
  • Sid Malladi - The Future of B2B Trade - [Making Markets, EP.62]

    Sid Malladi - The Future of B2B Trade - [Making Markets, EP.62]
    Jun 20 2025
    My guest today is Sid Malladi, founder of Nuvo. Behind every product, from wine to lumber to steel, is a complex web of B2B relationships, built slowly, at high cost, and constrained by risk. Nuvo aims to change that by building a digital network that accelerates onboarding, visibility, and trust. In this conversation, Sid takes us through that journey. We discuss the frictions that define B2B trade, the cold-start challenge of building a network from scratch, and how Nuvo approaches trust like a FICO score for businesses. We also explore the broader macro forces shaping supply chains today, from tariffs to AI, and why the most resilient companies are those creating deeper, more flexible webs of trade relationships. For the full show notes, transcript, and links to the best content to learn more, check out the episode page HERE. ----- Making Markets is a property of Colossus, LLC. For more episodes of Making Markets, visit joincolossus.com/episodes. Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here. Follow us on Twitter: @makingmkts | @ericgoldenx Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes (00:00:00) Welcome to Making Markets (00:01:04) Introduction to Novo and B2B Trade (00:03:05) Challenges in B2B Trade Partnerships (00:08:16) Novo's Digital Network Solution (00:11:19) Scaling and Network Effects (00:17:14) Operational Efficiency and Revenue Growth (00:19:19) Macro Forces and Technology Adoption (00:24:38) Consumer vs. B2B Dynamics (00:24:58) Credit Networks and Margins (00:25:59) Building Private Networks (00:26:51) Early Discoveries and Business Models (00:28:02) The Role of Centralized Data (00:31:11) Risk Management in B2B Trade (00:31:51) Novo's Approach to Risk and Visibility (00:35:11) Integrating with Government and Private Systems (00:38:04) Challenges and Opportunities in Trade Networks (00:43:27) Adapting to Market Volatility (00:46:42) Future Plans and Expansion (00:49:09) Industry Outlook Learn more about your ad choices. Visit megaphone.fm/adchoices
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    51 mins
  • Robbie Cannon: The Evolution of Asset Management - [Making Markets, REPLAY]

    Robbie Cannon: The Evolution of Asset Management - [Making Markets, REPLAY]
    Jun 6 2025
    Today we are replaying my conversation with Robbie Cannon. Robbie founded Horizon Investments in 1999 and grew the company to $7B in AUM before selling in 2021. Today, he takes us on a tour of the asset management industry. We cover many fascinating topics, such as the industry's evolution over 25 years, the blurring of lines between wealth and asset management, oligopolies in finance, the impact of private equity, the role of technology and AI, and more. Please enjoy this conversation with Robbie Cannon. For the full show notes, transcript, and links to the best content to learn more, check out the episode page HERE. ----- Making Markets is a property of Colossus, LLC. For more episodes of Making Markets, visit joincolossus.com/episodes. Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here. Follow us on Twitter: @makingmkts | @ericgoldenx Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes (00:00:00) Welcome to Making Markets (00:01:06) Evolution of Wealth and Asset Management (00:04:18) Blurred Lines in Financial Services (00:14:18) Private Equity and Financial Advisors (00:17:05) Robo Advisors and Technological Integration (00:26:07) Evaluating Compatibility and Money in Motion (00:27:06) Peer Collaboration and Industry Insights (00:29:05) Strategic Asset Allocation for 2024 (00:29:46) Challenges for Emerging Managers (00:32:16) AI in Asset Management (00:45:27) Digital Solutions and Future Trends (00:49:36) The Evolution of Financial Advice Learn more about your ad choices. Visit megaphone.fm/adchoices
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    54 mins
  • Dan Dicker: The Great Oil Reckoning - [Making Markets, EP.61]

    Dan Dicker: The Great Oil Reckoning - [Making Markets, EP.61]
    May 23 2025
    My guest today is Daniel Dicker, a seasoned oil trader, former floor broker at the NYMEX, and well-known expert on energy markets. Over a three-decade career, Daniel has seen the full arc of oil’s role in financial markets—from a bellwether commodity to a sidelined input. In this conversation, we explore why oil has fallen off the radar for many investors, and what signs might bring it roaring back. We also discuss why renewables aren’t ready, how nuclear fits in, and the unexpected reasons he might start buying oil again. Please enjoy this conversation with Daniel Dicker. For the full show notes, transcript, and links to the best content to learn more, check out the episode page HERE. ----- Making Markets is a property of Colossus, LLC. For more episodes of Making Markets, visit joincolossus.com/episodes. Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here. Follow us on Twitter: @makingmkts | @ericgoldenx Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes (00:00:00) Welcome to Making Markets (00:00:43) The Changing Role of Oil in the Economy (00:01:56) Financialization and Speculation in Oil Markets (00:04:55) Impact of Renewables and ESG on Oil (00:07:01) Government Policies and Oil Prices (00:14:45) Strategic Petroleum Reserve and Market Manipulation (00:17:38) Recession Risks and Corporate Earnings (00:23:35) Media Coverage of Commodities (00:24:36) Investment Strategies in Energy (00:25:19) Oil Market Dynamics and Bankruptcies (00:26:46) Buffett's Investment in Occidental (00:28:28) Renewable Energy and Carbon Capture (00:30:37) Nuclear Energy Investments (00:37:27) Geopolitics and Oil Supply (00:39:47) OPEC's Challenges and Strategies (00:42:46) Future of Oil Prices Learn more about your ad choices. Visit megaphone.fm/adchoices
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    46 mins
  • Quarterly Market Recap: Q1 2025 - [Making Markets, EP.60]

    Quarterly Market Recap: Q1 2025 - [Making Markets, EP.60]
    May 9 2025
    In this quarterly market recap, Matt Reustle turns the mic on Eric to analyze the tumultuous market environment of Q1 2025. They discuss the significant market downturn following the implementation of unexpected tariff policies, with the S&P down over 8% and Nasdaq down 12.5% by mid-April. Eric provides insights into how surprisingly high tariff announcements completely upended market expectations, the bond market's volatile reaction, and potential implications for corporate earnings and economic growth. The conversation explores the complex relationship between the US and China, concerns about capital flight, the Fed's challenging position between inflation and growth concerns, and how political decisions are creating unprecedented uncertainty in global markets. For the full show notes, transcript, and links to the best content to learn more, check out the episode page HERE. ----- Making Markets is a property of Colossus, LLC. For more episodes of Making Markets, visit joincolossus.com/episodes. Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here. Follow us on Twitter: @makingmkts | @ericgoldenx Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes (00:00:00) Welcome to Making Markets (00:01:04) First Quarter 2025 Market Recap (00:02:10) Market Reactions and Expectations (00:07:09) Tariffs and Trade Tensions (00:08:51) Impact on Global Trade and Economy (00:21:14) China's Role and Market Dynamics (00:24:31) The US-China Economic Strategy (00:25:10) Trump's Tariff Tactics (00:26:50) The Federal Reserve's Focus (00:28:11) Impact of Tariffs on Inflation (00:29:53) Negotiation Strategies and Global Trade (00:32:52) Market Reactions and Investor Strategies (00:41:32) Private Credit and Equity Concerns (00:43:14) Political Shifts and Tariff Policies (00:44:16) Future Outlook Learn more about your ad choices. Visit megaphone.fm/adchoices
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    45 mins
  • Mark Dow: Tariffs, Trade, and Trump - [Making Markets, EP.59]

    Mark Dow: Tariffs, Trade, and Trump - [Making Markets, EP.59]
    Apr 18 2025
    My guest today for the second time is Mark Dow. Mark is one of my favourite thinkers on Macro, and his experience at the IMF, the US Treasury, and Wall Street gives him a truly unique perspective for the current moment. As we went through one of the biggest market and policy upheavals of my career, I reached out to Mark to help us make sense of this situation. We recorded this episode on Thursday, the 10th of April, and talked about the general principle behind tariffs, the global trading system, the goals of President Trump, and the market reaction. Please enjoy this conversation with Mark Dow. For the full show notes, transcript, and links to the best content to learn more, check out the episode page HERE. ----- Making Markets is a property of Colossus, LLC. For more episodes of Making Markets, visit joincolossus.com/episodes. Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here. Follow us on Twitter: @makingmkts | @ericgoldenx Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes (00:00:00) Welcome to Invest Like the Best (00:00:07) Understanding Tariffs: Historical Context and Rationale (00:01:05) China's Role in Global Trade (00:01:54) Impact of Automation on Jobs (00:03:07) Trump's Trade Policies and Their Implications (00:04:20) Challenges with Current Tariff Approaches (00:05:37) Global Trade Imbalances and Misconceptions (00:06:07) Market Reactions and Economic Consequences (00:21:35) Political Shifts and Economic Policies (00:25:56) Trump's Economic Policies and Wage Stagnation (00:26:42) Tariffs and Their Impact on Small Businesses (00:27:20) Market Reactions and Economic Surprises (00:28:41) Equity and Credit Market Dynamics (00:30:59) China's Strategic Moves and Market Implications (00:33:49) The Fed's Role in Economic Stability (00:39:00) Global Trade Relations and Soft Power (00:49:08) Negotiating with Trump: Strategies and Challenges Learn more about your ad choices. Visit megaphone.fm/adchoices
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    53 mins
  • Barry Ritholtz: Cutting Through Financial Noise - [Making Markets, EP.58]

    Barry Ritholtz: Cutting Through Financial Noise - [Making Markets, EP.58]
    Apr 11 2025
    My guest today is Barry Ritholtz. As the founder & CIO of Ritholtz Wealth Management Barry manages assets of over $5B. He is also a famous author and commentator, fondly known as the 'Prickly Prophet of Wall Street' for his contrarian views. In this conversation, Barry shares the origin story and the ideas behind his latest book, "How Not to Invest." We also talk about how he’s remained a force in the industry while calling out powerful people, advice for curating the right information diet, and some of his biggest misses. Please enjoy this conversation with Barry Ritholtz. For the full show notes, transcript, and links to the best content to learn more, check out the episode page HERE. ----- Making Markets is a property of Colossus, LLC. For more episodes of Making Markets, visit joincolossus.com/episodes. Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here. Follow us on Twitter: @makingmkts | @ericgoldenx Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes (00:00:00) Introduction: Why Write a Book on How Not to Invest? (00:00:46) The Genesis of the Book: From Old Notes to New Ideas (00:01:23) Debunking Financial Myths: The Core Concept (00:02:01) The Writing Process: From Mind Maps to Manuscripts (00:03:20) The Influence of Morgan Housel and the Final Push (00:04:42) The Importance of Keeping Track: A Modern Phenomenon (00:05:15) Early Career Lessons and Organizational Skills (00:06:15) The Evolution of Financial Commentary (00:07:24) The Impact of Bailout Nation and Market Predictions (00:12:12) Debating Financial Titans: Respectful Disagreements (00:16:25) Changing Perspectives: High-Frequency Trading and Hedge Funds (00:23:17) The Halo Effect and Epistemic Trespass (00:30:44) Billionaire Advice: Why It Doesn't Apply to You (00:33:34) The Intersection of Media and Investing (00:34:09) Handling Media Questions on Market Predictions (00:35:06) Unpredictable Events and Market Reactions (00:36:47) The Influence of Information and Propaganda (00:38:19) Decision Making and Epistemology in Investing (00:39:25) Curating a News Diet for Investors (00:47:36) Behavioral Insights and Market Patterns (00:49:43) Personal Investment Regrets and Lessons (00:54:07) Technological Advancements in Investing (00:59:07) Balancing Risk and Reward in Investments (01:02:57) Concluding Thoughts and Future Plans Learn more about your ad choices. Visit megaphone.fm/adchoices
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    1 hr and 10 mins
  • Evan Tindell: Value Investing in 2025 - [Making Markets, EP.57]

    Evan Tindell: Value Investing in 2025 - [Making Markets, EP.57]
    Mar 28 2025
    My guest today is Evan Tindell. Evan graduated from MIT and became a professional poker player before entering the investing world. He’s now the co-founder and CIO of Bireme Capital, where he’s delivered over 19% annualized returns since 2016 by sticking to classic, old-school value investing. In this conversation, we talk about how Evan developed his philosophy, why he stuck with value through challenging cycles, and how he thinks about shorting meme stocks in a market dominated by narratives and momentum. We also dive into his views on the Mag 7, Tesla, Japan, and how he’s using AI tools for his research. Please enjoy this conversation with Evan Tindell For the full show notes, transcript, and links to the best content to learn more, check out the episode page HERE. ----- Making Markets is a property of Colossus, LLC. For more episodes of Making Markets, visit joincolossus.com/episodes. Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here. Follow us on Twitter: @makingmkts | @ericgoldenx Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes (00:00:00) Welcome to Making Markets (00:00:29) The Cyclical Nature of Value Investing (00:01:21) Challenges and Opportunities in Value Investing (00:04:53) Short Selling Strategies and Risks (00:09:39) Tesla and the Impact of Politics on Stocks (00:15:40) The MAG Seven and Market Concentration (00:25:44) Investment Opportunities in Japan (00:32:13) The Role of AI in Modern Investing (00:35:44) Market Outlook Learn more about your ad choices. Visit megaphone.fm/adchoices
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    39 mins