Eric and Matt break down a strong third quarter that saw the S&P 500 climb 10%, leaving Liberation Day's tariff chaos behind. They explore the growing divide between wealthy asset owners feeling great and everyone else struggling with inflation, while examining why bonds are pricing in Fed rate cuts even as stocks surge. The conversation turns to the private markets boom and whether opening up private equity to retail 401(k) investors is a good idea or a disaster waiting to happen. Eric shares why AI companies are burning massive amounts of capital with unclear returns, yet may be impossible to bet against if they build a cult-like following. They note that credit markets still look healthy despite late-cycle warning signs, making this moment particularly unusual. A straightforward look at where we are in this cycle and what actually matters as we head into year-end.
For the full show notes, transcript, and links to the best content to learn more, check out the episode page HERE.
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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
(00:01:30) Economic Structures and Consumer Demand
(00:04:34) Tariffs and Their Impact on the Economy
(00:05:10) Travel and Leisure Sector Post-COVID
(00:07:44) Bond Market and Federal Reserve Actions
(00:16:34) Private Equity and Market Trends
(00:22:24) Retirement Funds and 401(k) Investments
(00:25:04) Concerns Over New Investment Vehicles
(00:26:51) Debates on Private and Public Assets
(00:30:14) Religious Investor Bases and Market Dynamics
(00:31:54) AI and Its Impact on Markets
(00:41:46) Social Media and Market Sentiment
(00:44:04) Concluding Thoughts on Markets and Society
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45:49
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45:49
Entrepreneurship, Markets, and the Fed - [Making Markets, REPLAY]
In this replay, I’m on the other side of the mic, as I’m interviewed by Joe Magyer, the founder of Seaplane Ventures. This is a wide-ranging conversation where we talk about the Fed rate cut, cover different asset classes including VC, PE, Fixed Income, and Public Equities, and my journey in building Canopy Capital. This episode first appeared on the Investing in Startups podcast hosted by Joe, which I highly recommend you check out. Please enjoy this conversation with Joe Magyer.
For the full show notes, transcript, and links to the best content to learn more, check out the episode page HERE.
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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
(00:00:19) Overview of Canopy Capital
(00:00:44) The Evolution of Asset Management
(00:01:54) The Importance of Tax Individualized Investing
(00:02:44) Starting the Podcast Journey
(00:03:16) Crypto: From Skepticism to Interest
(00:04:18) Exploring Various Asset Classes
(00:06:08) Challenges and Rewards of Podcasting
(00:11:12) Competitiveness in Different Asset Classes
(00:16:38) Insights on Venture Capital
(00:22:59) Building a Venture-Backed Company
(00:24:18) The Founder’s Dilemma: Risk and Innovation
(00:25:17) A Career at Fidelity: Reflections and Decisions
(00:27:17) The Transition: From Intrapreneur to Entrepreneur
(00:30:21) Market Insights: The Fed and Economic Cycles
(00:36:27) Investment Strategies: Observing and Predicting
(00:39:40) Web3 and Crypto: Future Prospects
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44:58
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44:58
Ritik Malhotra - The Future of Wealth Management - [Making Markets, EP.66]
My guest today is Ritik Malhotra, co-founder and CEO of Savvy. We’re in the middle of a powerful cycle in wealth management- advisors leaving big institutions to go independent. Savvy is building the infrastructure to make that transition possible. In our conversation, we explore the rise of RIAs, the challenges of breaking away, and how capital from both venture and private equity is reshaping the market. Please enjoy this conversation with Ritik Malhotra.
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 | @ericgoldenxEditing 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(00:00:28) Journey to Founding Savvy(00:01:27) Challenges in the Financial Advisory Industry(00:02:51) Savvy's Unique Approach(00:03:26) Target Market for Savvy(00:05:19) Operational and Marketing Challenges(00:08:14) Building a Comprehensive Platform(00:18:08) Private Equity and Industry Impact(00:29:54) Future Outlook and Expansion Plans(00:32:55) Final Thoughts
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36:17
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36:17
Darren Fisk: Navigating Real Estate Cycles - [Making Markets, EP.65]
My guest today is Darren Fisk, founder and CEO of Forum Investment Group. Darren’s journey runs from a late-night $100 bet in a frat house that propelled him into Division 1 football to building a national real estate platform.
We try to keep the conversation as wide-ranging as his career, covering everything from cultivating drive and resilience in your children to managing debt and seizing opportunities in real estate. Along the way, Darren shares the lessons he’s carried from the locker room into the boardroom, the evolving landscape of commercial real estate, and the strategic differentiation of investment vehicles. Please enjoy this conversation with Darren Fisk.
For the full show notes, transcript, and links to the best content to learn more, check out the episode page HERE.
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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 and Welcome
(00:00:05) The $100 Bet: From Frat House to Division One Football
(00:02:16) Overcoming Challenges and Building Drive
(00:03:40) Instilling Drive in the Next Generation
(00:08:22) Transition to Real Estate
(00:08:27) Starting a Real Estate Firm During a Financial Crisis
(00:10:42) The Importance of Cash Flow in Real Estate
(00:14:35) Navigating Real Estate Cycles and Debt Management
(00:19:01) Investing in Multifamily Projects
(00:27:13) The Resilience of Multifamily Housing
(00:33:42) Economic Concerns and Wage Inflation
(00:34:54) Impact of High Interest Rates on Businesses
(00:35:19) Turnover and Market Efficiency in Real Estate
(00:36:59) Understanding Debt and Credit Vehicles
(00:40:59) Investment Strategies and Market Adaptation
(00:51:07) Challenges and Mistakes in Real Estate
(00:55:39) Balancing Business Growth and Personal Fulfillment
(01:04:06) Affordable Housing Solutions and Policy
(01:07:14) Current State of Multifamily Housing Market
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1:09:57
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1:09:57
Charlie Shrem: The Journey of Bitcoin - [Making Markets, REPLAY]
Today, we are replaying my conversation with Charlie Shrem. Charlie was a founding member of the Bitcoin Foundation and BitInstant - one of the earliest Bitcoin exchanges. In this episode, he takes us through his incredible life story-starting with how an Orthodox Jew from Brooklyn got into the wild world of Bitcoin. He then talks about how Bitcoin went from a toy to a real store of value, the wild success of BitInstant, his time in prison, and how he met Justin Trudeau through a robot. The story of Charlie’s adult life is in many ways mirrors the story of Bitcoin, and I hope you enjoy this episode with Charlie Shrem.
For the full show notes, transcript, and links to the best content to learn more, check out the episode page HERE.
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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
(00:01:51) Charlie's Early Life and Bitcoin Discovery
(00:05:23) The Rise of BitInstant and Legal Troubles
(00:08:12) Life After Arrest and Bitcoin's Early Community
(00:13:59) Bitcoin's Value and Early Transactions
(00:18:20) Libertarian Influence and Political Connections
(00:24:38) Gavin Andresen and the CIA Meeting
(00:25:53) The Birth of the Bitcoin Foundation
(00:26:19) Early Bitcoin Community Gathering in Austria
(00:27:03) Forming the Bitcoin Foundation
(00:28:09) Libertarian Movement and Porkfest
(00:29:19) Bitcoin's Early Adoption and Challenges
(00:31:06) BitInstant and the Rise of Bitcoin Transactions
(00:37:47) Legal Troubles and the Silk Road Connection
(00:44:18) Life After Prison and Bitcoin's Evolution
(00:47:25) Reflections on Bitcoin's Impact and Future
Learn more about your ad choices. Visit megaphone.fm/adchoices
Making Markets explores the psychology and structure that make up markets all over the world. Each week, Eric Golden speaks to experts about a different market so you can see what actually happens when money changes hands. From mainstream stock and bond markets to esoteric niches like vineyards, antique art, and crypto, we explain the transactions that underpin our economy. Visit joincolossus.com to find more episodes, transcripts and a library of content to continue your learning.
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