Unhedged
Katie Martin, Robert Armstrong and other markets nerds at the Financial Times explain the big ideas behind what’s happening in finance right now. Every Tuesday and Thursday. Hosted on Acast. See acast.com/privacy for more information.
Episodes
Short interest in the market is rising. But what are the big players betting against? And what can investors learn from it? Today on the show, Katie Martin joins the editor of the FT’s Alphaville newsletter Robin Wigglesworth to discuss high finance’s low expectations. Also they go short Bloom Energy and short the crypto bros.
To sign up for free to the new FT Alphaville newsletter on substack, go to ftav.substack.com.
In the morning, Nvidia’s earnings report seemed to have cured the market of its jitters about an artificial intelligence bubble. And then it didn’t. Today on the show, Katie Martin and Rob Armstrong try to figure out if the chipmaker’s numbers are soothing or scary. Also they go long a proposed stimulus cheque and short handbag investment funds.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/u...
The battle between Novo Nordisk and Pfizer to acquire Metsera is over. But is this merger a sign of strength or weakness for the industry? Today on the show, Rob Armstrong talks with US finance editor James Fontanella-Khan about the pressures on drug companies from Washington and the market. Also they go long Nasdaq and short Nasdaq.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer...
Companies such as Procter & Gamble and Chipotle say lower-income customers are spending less, while upper-income customers keep splurging. But data from the Federal Reserve and others suggests incomes – and the differences between them – have remained steady. Today on the show, Katie Martin and Rob Armstrong try to understand why and if consumer behaviour is changing. Also, they go long passive investing and short banks checkin...
Today’s show is a live recording from the Kilkenomics Festival in Kilkenny, Ireland. Katie Martin hosts a panel with guests David McWilliams, founder of the festival, and Mark Blyth, professor of political economics at Brown University. From the Home Rule Club in Kilkenny, they ask if the US is starting to behave like an emerging market. Also, they go long sterling and short futuristic cities in the sand.
With the government shut down, US investors are looking for data in different places. Today on the show, Katie Martin and Rob Armstrong discuss home brewed data, and try to figure out what’s really going on in the US economy. Also they go short flying taxis and the UK defaulting.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.
Tech companies are spending historic amounts of money on computing power and data centres.
Today on the show, Rob Armstrong and Katie Martin talk to Lex editor John Foley to try to understand the computing arms race. Also they go long M&A, short free buses, and long cleanfluencers.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.
How does populism affect the long-term health of economies? And is there a difference in outcomes between the extreme politics of the left and the right? Today on the show, Rob Armstrong and the FT’s chief economics commentator Martin Wolf discuss an extensive study on populism and economics. Also, they go long China and short tech companies with no profits.
For a free 30-day trial to the Unhedged newsletter go to: https://www.f...
US Treasury secretary Scott Bessent has one of the hardest jobs in recent history. He has to implement bizarre economic strategies and keep rational market players calm. Today on the show, Rob Armstrong and Katie Martin discuss Bessent’s balancing act. Also they go long depreciation expense and short predictions about gold.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.
It won’t be easy, and you’ll think it’s strange, when we try to explain … why US Treasury secretary Scott Bessent is suddenly reversing all current US policy and proposing to send billions of dollars to Argentina. Today on the show, Katie Martin, Rob Armstrong and the FT’s Latin America editor Michael Stott discuss Javier Milei’s cry for help. Also they go long renaissance composer Palestrina and professional wrestling.
...Sanae Takaichi is the first female prime minister of Japan. She also claims Margaret Thatcher as a role model. Today on the show, Katie Martin and the FT’s Tokyo bureau chief Leo Lewis discuss this historic election and what it might mean for markets in Japan and globally. Also, they go long shorts – for real this time.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.
China’s announcement that it would be restricting the export of rare earths put markets into a tailspin on Friday. Today on the show, Rob Armstrong, Katie Martin and new Unhedged reporter Hakyung Kim ask if this is the card that will make Donald Trump fold? Also they go long Strava, and short protein.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.
On November 26, parliament will make the UK an offer it can’t refuse: The 2026 Budget. But the UK can complain about it! And likely will, as it will almost certainly include increased taxes on the middle class. Today on the show, Katie Martin and the FT’s economics commentator Chris Giles discuss Labour’s big problem: social services are expensive. Also they short the IMF and go long people who say they’re moving to Dubai actually ...
Is AI making everybody richer? Or just more entangled in each others’ business? Today on the show, Rob Armstrong and Lex editor John Foley try to untangle the growing web of companies investing in each other. Also they go long steak and long cocoa.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.
You can email Robert Armstrong and Katie Martin at unhedged@ft.com.
Introducing Toxic Legacy, a new season of Untold from the Financial Times. Host Laura Hughes uncovers a lead poisoning epidemic across the UK. You might be living with lead and not know it: the toxin is often invisible to the human eye, but wreaks havoc on our bodies once we’re exposed. The first episode of Untold: Toxic Legacy launches October 22.
Listen on Apple Podcasts, Spotify, Pocket Casts or wherever you get your po...
Gold keeps hitting all-time highs, and no sober talk about speculation or productivity has stopped it. Today on the show, Rob Armstrong and Katie Martin take stock of the frenzy. Also they go short the yen and long Japanese stocks.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.
You can email Robert Armstrong and Katie Martin at unhedged@ft.com.
Today on the show, Rob Armstrong and Katie Martin take on three things they’ve been thinking about: the markets' complete lack of worry about a government shutdown, the growing balance sheet problem with artificial intelligence spending, and the rise of shadow banking. Also they short cyber attacks and the fall wave of Covid-19.
For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.
Electronic Arts, a publicly traded company, was just purchased for $55bn by a consortium of investors led by Donald Trump’s son-in-law Jared Kushner. The investors included the Saudis and Silver Lake Partners, one of the smartest players in private equity. Today on the show, Robert Armstrong speaks with US finance editor James Fontanella-Khan and US deals correspondent Oliver Barnes about the dollars behind the deal. Also, they go ...
First Brands Group, a roll-up of car parts manufacturers, is preparing a bankruptcy filing after amassing as much as $10bn in debt. And last week, Tricolor, a subprime auto loan lender, ran into trouble. Today on the show, Rob Armstrong and Katie Martin ask if we are at a turning point in credit markets. Also they go long collective nouns for groups of canaries.
For a free 30-day trial to the Unhedged newsletter go to: htt...
The dollar is down almost 10 per cent since the beginning of the year. Yes, it has fallen from a very strong position, but the drop might also reflect growing international unease about the direction of American institutions of government. Today on the show, Rob Armstrong and Katie Martin discuss the weakening of the dollar, and how traders are betting on it. Also, they go short not having joined a hedge fund and short a cup o...
Popular Podcasts
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Ding dong! Join your culture consultants, Matt Rogers and Bowen Yang, on an unforgettable journey into the beating heart of CULTURE. Alongside sizzling special guests, they GET INTO the hottest pop-culture moments of the day and the formative cultural experiences that turned them into Culturistas. Produced by the Big Money Players Network and iHeartRadio.
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
The World's Most Dangerous Morning Show, The Breakfast Club, With DJ Envy, Jess Hilarious, And Charlamagne Tha God!
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com