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The Controversial Rise of Central Banking
17:36

The Controversial Rise of Central Banking

If you appreciate the research, consider buying me a 'coffee' at https://ko-fi.com/moneymacro or supporting long-term for membership benefits via: https://www.patreon.com/moneymacro Central banks are the supposed champions of both price stability and financial stability.... But, have prices and finance really been very stable? or was the world of money actually more stable before central banking was invented? BIG SHOUTOUT to Professor Dirk Bezemer, with whom I collaborated to create the script for this video as well as to Alex Moore Via www.dmsquaredagency.com who did the editing & graphics. LIKE CHATTING ECON WITH ME △ Follow me on Twitter: https://twitter.com/joerischasfoort △ Follow me on LinkedIn: https://www.linkedin.com/in/joeri-schasfoort/ △ I have a private Discord server for Senior and Chief economist Patrons / members. Otherwise I hang out in two Discord servers: △ Unlearning Economics's server: https://discord.com/invite/jy8CNzDsgf △ Capitalists server: https://discord.gg/8MeNJ7gfSR 5 BOOKS THAT INSPIRED THIS CHANNEL The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo SOURCES: I've linked my sources in the blog that goes along with this video. Most links are in the text. But, I added some extra literature and data sources to the end of the blog: https://www.moneymacro.rocks/2021-10-01-central-bank-origin/ Timestamps: 0:00 - introduction 0:35 - South European Banks 4:08 - Bank of Amsterdam 9:38 - Channel plug 10:03 - Sveriges Riksbank 13:18 - Bank of England Attribution: - Narrated and produced by Dr. Joeri Schasfoort (University of Groningen)
The Hidden History of Money in Medieval Europe
11:28

The Hidden History of Money in Medieval Europe

Want to help me do more research? Consider supporting via: https://www.patreon.com/moneymacro or https://ko-fi.com/moneymacro Is money a commodity or credit. I think both. But the commodity story is told everywhere whereas the credit story is not well known. This video therefore fills that gap by explaining the re-emergence of credit in Europe. BIG SHOUTOUT to Professor Dirk Bezemer, with whom I collaborated to create the script for this video. WANT TO HELP ME PRODUCE MORE CONTENT LIKE THIS? △ Liked the in-depth research and want to help me do more? Consider buying me a coffee at https://ko-fi.com/moneymacro or for the Dutchies https://betaalverzoek.knab.nl/QaL7OZh.... △ For some extra benefits consider supporting me longer term on: https://www.patreon.com/moneymacro △ Finally, for other one-time donations: https://www.paypal.com/donate?hosted_button_id=LTE3H3FUND37Y LIKE CHATTING ECON WITH ME △ Follow me on Twitter: https://twitter.com/joerischasfoort △ I have a private Discord server for Senior and Chief economist Patrons. Otherwise I hang out in two Discord servers: △ Unlearning Economics's server: https://discord.com/invite/jy8CNzDsgf △ Capitalists server: https://discord.gg/8MeNJ7gfSR 5 BOOKS THAT INSPIRED THIS CHANNEL The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo SOURCES: I've linked my sources in the blog that goes along with this video. Most links are in the text. But, I added some extra literature and data sources to the end of the blog. https://www.moneymacro.rocks/2021-08-27-medieval-europe/ Timestamps: 0:00​ - introduction & theories 2:55 - rise of the money changers 5:38 - rise of bill-dealers 7:46 - rise of bankers & conclusion Attribution: - Thought-bubble: created by Harryarts - www.freepik.com - Business vector created by rawpixel.com - www.freepik.com Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town & University of Groningen) https://www.linkedin.com/in/joeri-schasfoort
Silver & Credit Money in Ancient Athens | History of Money
16:32

Silver & Credit Money in Ancient Athens | History of Money

Want to help me do more research? Consider supporting via: https://www.patreon.com/moneymacro or https://ko-fi.com/moneymacro The silver Drachmae was basically the dollar of the Ancient Mediterranean and Ancient Greece in general. Want to know why? Then, check out this video. △ Interested in other country economic case studies? https://www.youtube.com/playlist?list=PLGbVoSdwvesDNHLHmkZzvW2vuCfllJhpA △ Want to know about central banking? https://www.youtube.com/playlist?list=PLGbVoSdwvesCIGv-sN7OiQLryj2f4bAGE △ Interested in bubbles and asset markets? https://www.youtube.com/playlist?list=PLGbVoSdwvesD_W5OHSJ6J_j-RKeCxl0OS 5 BOOKS THAT INSPIRED THIS CHANNEL The Narrow Corridor: States, Societies, and the Fate of Liberty: https://amzn.to/3gr6pSV Money Changes Everything: How Finance Made Civilization Possible: https://amzn.to/3mt3xbY Adaptive Markets: Financial Evolution at the Speed of Thought: https://amzn.to/3sCkS3a House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again: https://amzn.to/3gqXNeZ The Third Pillar: How Markets and the State Leave the Community Behind: https://amzn.to/382Agwo The script for this video can be found here: https://www.moneymacro.rocks/2020-12-30-ancient-athens-finance/ Narrated and produced by Dr. Joeri Schasfoort (University of Cape Town) https://twitter.com/joerischasfoort https://www.linkedin.com/in/joeri-schasfoort/ Attribution: - Ricardo Liberato - All Gizah Pyramids CC BY-SA 2 - Song: Desert City by Kevin MacLeod is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/ Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100564 Artist: http://incompetech.com/ Extended description: Besides the rise of the Athenian 'owl coin,' this video covers money in Mesopotamia, the government, treasury and mint of Athens, private banking, finance (with an emphasis on ship finance), as well as financial law in Ancient Athens. Basically, it covers the entire financial monetary system of this awesome city state that monetarily dominated the Ancient Greek world.
The Fed's Great Inflation Mystery
19:04

The Fed's Great Inflation Mystery

Skip the waitlist and invest in blue-chip art for the very first time by signing up for Masterworks: https://masterworks.art/moneymacro Purchase shares in great masterpieces from artists like Pablo Picasso, Banksy, Andy Warhol, and more. 🎨 See important Masterworks disclosures: https://www.masterworks.io/about/disclaimer If you appreciate the research, consider buying me a 'coffee' at https://ko-fi.com/moneymacro or supporting long-term for membership benefits via: https://www.patreon.com/moneymacro LIKE CHATTING ECON WITH ME? △ Follow me on Twitter: https://twitter.com/joerischasfoort △ Follow me on LinkedIn: https://www.linkedin.com/in/joeri-schasfoort/ △ I have a private Discord server for Senior and Chief economist Patrons / members. Otherwise I sometimes hang out in two Discord servers: △ Unlearning Economics's server: https://discord.com/invite/jy8CNzDsgf △ Capitalists server: https://discord.gg/8MeNJ7gfSR SOURCES: I've linked my sources in the blog that goes along with this video. Most links are in the text. But, I added some extra literature and data sources to the end of the blog: https://www.moneymacro.rocks/blog Timestamps: 0:00 - introduction 1:31 - Keynesians love Phillips 3:29 - Friedman prints a theory 7:55 - sponsor 9:11 - expecting interest rates 12:38 - next Keynesianism? 16:02 - a modest inflation theory Neon sign from: https://www.neonlights.be/discount/M&M15 Narrated and produced by Dr. Joeri Schasfoort (VU Amsterdam) Studio designed by Alex Moore Via www.dmsquaredagency.com
Understanding Market Makers || Optiver Realized Volatility Kaggle Challenge
16:29

Understanding Market Makers || Optiver Realized Volatility Kaggle Challenge

Today we look at the Optiver Realized Volatility Kaggle Challenge and the role of market makers in financial markets. On this channel, over the next two months we will be completing this competition and attempting to provide an accurate methodology for predicting realized volatility over a 10-minute trading window. In this first video, first we look at some advice from Robbert Pullen (an Optiver Trainer) with regards to financial markets and marker making. The complete video link is provided below the video timeline, this was created by @Optiver Europe. We will then consider how we can place option prices in the marketplace into perspective, are they high or are they low? One visual method of considering our option price marketplace is to create a graph of a Historical Volatility Cone and compare this to Implied Volatility in financial markets (offered by Market Makers). I have used the same methodology as provided by a link in StackExchange (link below), and have replicated this for the ASX200 index. Full code available on my website: https://quantpy.com.au/black-scholes-model/historical-volatility-cones/ 00:00 Intro 01:06 Optiver – what are Market Makers? 05:51 Market Makers Profitability 07:43 Cheap or Expensive Options? 08:22 ASX200 Index || Creating the Historical Volatility Cone 12:10 ASX200 Index || Adding Implied Volatility of Call/Put Bid & Asks 15:40 Where does realized volatility come into it? Quantitative Finance StackExchange Question: https://quant.stackexchange.com/questions/1284/how-do-i-compare-implied-and-historic-volatility Introduction to financial markets and instruments - Kaggle edition: https://www.youtube.com/channel/UCLRlRArEpJUc6fdGfeokVWg Optiver Realized Volatility Kaggle Challenge: https://www.kaggle.com/c/optiver-realized-volatility-prediction/overview ★ ★ QuantPy GitHub ★ ★ Collection of resources used on QuantPy YouTube channel. https://github.com/thequantpy ★ ★ Discord Community ★ ★ Join a small niche community of like-minded quants on discord. https://discord.com/invite/aY2Af4CxHP ★ ★ Support our Patreon Community ★ ★ Get access to Jupyter Notebooks that can run in the browser without downloading python. https://www.patreon.com/quantpy ★ ★ ThetaData API ★ ★ ThetaData's API provides both realtime and historical options data for end-of-day, and intraday trades and quotes. Use coupon 'QPY1' to receive 20% off on your first month. https://www.thetadata.net/ ★ ★ Online Quant Tutorials ★ ★ WEBSITE: https://quantpy.com.au ★ ★ Contact Us ★ ★ EMAIL: pythonforquants@gmail.com Disclaimer: All ideas, opinions, recommendations and/or forecasts, expressed or implied in this content, are for informational and educational purposes only and should not be construed as financial product advice or an inducement or instruction to invest, trade, and/or speculate in the markets. Any action or refraining from action; investments, trades, and/or speculations made in light of the ideas, opinions, and/or forecasts, expressed or implied in this content, are committed at your own risk an consequence, financial or otherwise. As an affiliate of ThetaData, QuantPy Pty Ltd is compensated for any purchases made through the link provided in this description.
How to beat Market Makers || Volatility Smile and Put-Call Parity Explained
07:48

How to beat Market Makers || Volatility Smile and Put-Call Parity Explained

Today we look at the volatility smile or volatility smirk that arises for option prices in financial markets. We will also take a look at a real life example using the ASX200 index where we can potentially profit from the traditional option theory of Put-Call Parity. 00:00 Intro 00:27 Volatility Smile || Horizontal Skew 00:40 Volatility Smile || Vertical Skew 02:30 Put-Call Parity || Can you beat the Market Maker? 03:25 Put-Call Parity || ASX200 Index Order Book 04:12 Put-Call Parity || Can I profit? 05:05 Put-Call Parity || Short Call, Long Put 06:00 Put-Call Parity || Short Put, Long Call 06:50 The Market Maker Advantage Introduction to financial markets and instruments - Kaggle edition: https://www.youtube.com/channel/UCLRlRArEpJUc6fdGfeokVWg Optiver Realized Volatility Kaggle Challenge: https://www.kaggle.com/c/optiver-realized-volatility-prediction/overview ★ ★ QuantPy GitHub ★ ★ Collection of resources used on QuantPy YouTube channel. https://github.com/thequantpy ★ ★ Discord Community ★ ★ Join a small niche community of like-minded quants on discord. https://discord.com/invite/aY2Af4CxHP ★ ★ Support our Patreon Community ★ ★ Get access to Jupyter Notebooks that can run in the browser without downloading python. https://www.patreon.com/quantpy ★ ★ ThetaData API ★ ★ ThetaData's API provides both realtime and historical options data for end-of-day, and intraday trades and quotes. Use coupon 'QPY1' to receive 20% off on your first month. https://www.thetadata.net/ ★ ★ Online Quant Tutorials ★ ★ WEBSITE: https://quantpy.com.au ★ ★ Contact Us ★ ★ EMAIL: pythonforquants@gmail.com Disclaimer: All ideas, opinions, recommendations and/or forecasts, expressed or implied in this content, are for informational and educational purposes only and should not be construed as financial product advice or an inducement or instruction to invest, trade, and/or speculate in the markets. Any action or refraining from action; investments, trades, and/or speculations made in light of the ideas, opinions, and/or forecasts, expressed or implied in this content, are committed at your own risk an consequence, financial or otherwise. As an affiliate of ThetaData, QuantPy Pty Ltd is compensated for any purchases made through the link provided in this description.
What is Delta Hedging || Dynamic Delta Hedging like a Quant || Profit & Loss Options Trading
10:32

What is Delta Hedging || Dynamic Delta Hedging like a Quant || Profit & Loss Options Trading

Today we look at hedging options from a quant’s perspective. In this video we look at the difference in Profit and Loss (P&L) with three different strategies: dynamic delta hedging, static delta hedging and no delta hedging. Delta hedging is a way to reduce directional risk of the underlying to your options positions by transacting in the money markets (bank account) and the underlying (stocks/futures/etfs/index). By continually adjusting in the underlying and bank account, we can effectively replicate the changes in payoff of the ‘new’ option contract. Essentially instead of betting on the direction at one time spot (on entry) we are now making a series of bets at different levels. Hopefully in this video the importance and relevance of realized volatility becomes apparent and hence why market marking firms like Optiver are so keen on forecasting realized volatility as accurately as possible. ★ ★ Code Available on GitHub ★ ★ GitHub: https://github.com/TheQuantPy Specific Tutorial Link: https://github.com/TheQuantPy/youtube-tutorials/blob/8e64e19629cee840928b51baf4660e5c777e87e7/2021/003%20Jul-Sep/2021-08-03%20What%20is%20Delta%20Hedging%20_%20Dynamic%20Delta%20Hedging%20like%20a%20Quant%20_%20Profit%20_%20Loss%20Options%20Trading.ipynb 00:00 Intro 00:22 What is Delta Hedging? 01:40 Importance of Realized Volatility 02:00 Real world examples 03:56 Full worked example: Short CBA Nov 102 Call 06:40 Looking at P&L over 1000 trades 07:45 P&L distributions for different hedging strategies Introduction to financial markets and instruments - Kaggle edition: https://www.youtube.com/channel/UCLRlRArEpJUc6fdGfeokVWg Optiver Realized Volatility Kaggle Challenge: https://www.kaggle.com/c/optiver-realized-volatility-prediction/overview ★ ★ QuantPy GitHub ★ ★ Collection of resources used on QuantPy YouTube channel. https://github.com/thequantpy ★ ★ Discord Community ★ ★ Join a small niche community of like-minded quants on discord. https://discord.com/invite/aY2Af4CxHP ★ ★ Support our Patreon Community ★ ★ Get access to Jupyter Notebooks that can run in the browser without downloading python. https://www.patreon.com/quantpy ★ ★ ThetaData API ★ ★ ThetaData's API provides both realtime and historical options data for end-of-day, and intraday trades and quotes. Use coupon 'QPY1' to receive 20% off on your first month. https://www.thetadata.net/ ★ ★ Online Quant Tutorials ★ ★ WEBSITE: https://quantpy.com.au ★ ★ Contact Us ★ ★ EMAIL: pythonforquants@gmail.com Disclaimer: All ideas, opinions, recommendations and/or forecasts, expressed or implied in this content, are for informational and educational purposes only and should not be construed as financial product advice or an inducement or instruction to invest, trade, and/or speculate in the markets. Any action or refraining from action; investments, trades, and/or speculations made in light of the ideas, opinions, and/or forecasts, expressed or implied in this content, are committed at your own risk an consequence, financial or otherwise. As an affiliate of ThetaData, QuantPy Pty Ltd is compensated for any purchases made through the link provided in this description.
Market Makers || Payment for Order Flow Explained || Market Maker and Exchange Incentives
23:06

Market Makers || Payment for Order Flow Explained || Market Maker and Exchange Incentives

The Wall Street Journal published an article on 31st October named ‘How Robinhood Cashes in on the Options Boom’, this inspired me to investigate Payment for Order Flow further. According to Bloomberg the 11 largest U.S. retail brokerages collected $2.2 billion for selling customers options orders. Payment for order flow (PFOF) is the compensation and benefit a brokerage firm receives for directing orders to different parties for trade execution (Investopedia, 2021). In this video we look at PFOF for Robinhood in Q3 2021 and the 4 largest brokerage firms in the world: TD Ameritrade, E Trade, Fidelity and Charles Schwab. Wall Street Journal Article: https://www.wsj.com/articles/how-robinhood-cashes-in-on-the-options-boom-11635681600?mod=Searchresults_pos6&page=1 Breaking Down the Payment for Order Flow Debate: https://a16z.com/2021/02/17/payment-for-order-flow/ ★ ★ QuantPy GitHub ★ ★ Collection of resources used on QuantPy YouTube channel. https://github.com/thequantpy ★ ★ Discord Community ★ ★ Join a small niche community of like-minded quants on discord. https://discord.com/invite/aY2Af4CxHP ★ ★ Support our Patreon Community ★ ★ Get access to Jupyter Notebooks that can run in the browser without downloading python. https://www.patreon.com/quantpy ★ ★ ThetaData API ★ ★ ThetaData's API provides both realtime and historical options data for end-of-day, and intraday trades and quotes. Use coupon 'QPY1' to receive 20% off on your first month. https://www.thetadata.net/ ★ ★ Online Quant Tutorials ★ ★ WEBSITE: https://quantpy.com.au ★ ★ Contact Us ★ ★ EMAIL: pythonforquants@gmail.com Disclaimer: All ideas, opinions, recommendations and/or forecasts, expressed or implied in this content, are for informational and educational purposes only and should not be construed as financial product advice or an inducement or instruction to invest, trade, and/or speculate in the markets. Any action or refraining from action; investments, trades, and/or speculations made in light of the ideas, opinions, and/or forecasts, expressed or implied in this content, are committed at your own risk an consequence, financial or otherwise. As an affiliate of ThetaData, QuantPy Pty Ltd is compensated for any purchases made through the link provided in this description.
Why Investors Love Dividends (And Why They Can Be Dangerous)
08:28

Why Investors Love Dividends (And Why They Can Be Dangerous)

Ever wonder what all the hype around dividends is? With today's video, we'll dive into how dividends work, why people like them so much, and what to look out for when hunting them down. Intro/Outro Music: https://www.bensound.com/royalty-free-music Episode Music: http://freemusicarchive.org/music/Podington_Bear/ DISCLAIMER: Richard does not have a personal position in any of the referenced companies. This channel is for education purposes only and is not affiliated with any financial institution. Richard Coffin is not registered to provide investment advice and as such does not provide recommendations on The Plain Bagel - those looking for investment advice should seek out a registered professional. Richard is not responsible for investment actions taken by viewers.
Stock Options Explained
10:16

Stock Options Explained

Correction: At 4:20, the graph in the top left-hand corner is slightly off; for total return, the curve should not intercept at (30,0), but rather should be shifted slightly to the left so that the bend in the line occurs at (30,-2). Sorry for the blunder. Option Pricing Factors: - Underlying stock price (higher = higher call premium, lower put premium) - Underlying stock price volatility [expected] (higher = higher option premium) - Underlying stock dividends (higher = lower call premium, higher put premium) - Option's strike price (higher = lower call premium, higher put premium) - Time until expiration (longer = higher option premium) - Interest rates (higher = higher call premium, lower put premium) Intro/Outro Music: https://www.bensound.com/royalty-free-music Episode Music: http://freemusicarchive.org/music/Podington_Bear/ DISCLAIMER: This channel is for education purposes only and is not affiliated with any financial institution. Richard Coffin is not registered to provide investment advice and as such does not provide recommendations on The Plain Bagel - those looking for investment advice should seek out a registered professional. Richard is not responsible for investment actions taken by viewers.
Making a Synthetic Stock
06:54

Making a Synthetic Stock

Synthetic stocks are investments that replicate a stock's return; in other words, they earn money from a company's success despite having no ownership of the firm. Today, let's go through the exercise of creating one so we can better understand just how capable the world of options truly is. NOTE: As mentioned, this example is grossly oversimplified and doesn't take into transaction costs nor contract sizes. Intro/Outro Music: https://www.bensound.com/royalty-free-music Episode Music: http://freemusicarchive.org/music/Podington_Bear/ DISCLAIMER: This channel is for education purposes only and is not affiliated with any financial institution. Richard Coffin is not registered to provide investment advice and as such does not provide recommendations on The Plain Bagel - those looking for investment advice should seek out a registered professional. Richard is not responsible for investment actions taken by viewers.
Valuation: A Preview
04:59

Valuation: A Preview

This is a short introduction to the valuation class that I teach at Stern and it lays out the five themes that run through the class. First, valuation is not a science (with precision as an end game) or an art form (where you can do whatever you want). It is a craft. Second, valuation is universal and its principles cover all types of businesses, public or private, small or large and across the life cycle (from start up to decline). Third, the value of an asset is driven by different forces and can yield a different number than the pricing of that same asset. Fourth, valuations don't come from spreadsheets, but represent a marriage of stories and numbers; one without the other can lead you astray. Finally, valuation is pragmatic and requires action; if you are unwilling to act on your valuations, why bother? The MBA and undergraduate valuation classes are identical and you can take either, or if you want to torture yourself, both. Each week, we will have two sessions, 75-80 minutes long, and the recordings will show up on the playlist for the class, with links to slides, a start of the class test and a post class test. (I could tell you taking this class online will cost you nothing, and that is technically true, but it will take up a significant chunk of your time, albeit on your terms.) If you want to take the MBA class: Class Website: http://www.stern.nyu.edu/~adamodar/New_Home_Page/equity.html If you want to take the undergraduate class: Class Website: http://www.stern.nyu.edu/~adamodar/New_Home_Page/equityUG.html
Session 1: Valuation 101 - Broad Themes and Class Logistics
01:16:22

Session 1: Valuation 101 - Broad Themes and Class Logistics

In this session, I started by laying out the broad themes for the class - that valuation is a craft, that value is different from price, that a good valuation links story to numbers and that acting on valuation requires faith. I followed up by setting up the logistics of the class, including the quizzes and exams that will be used to grade the class. (For some reason peculiar to Zoom, the slides don't show up for the first ten minutes of class, but they are in the start of the class link. The rest of the class should match the slides.... Sorry!) Start of the class test: https://pages.stern.nyu.edu/~adamodar/pdfiles/eqnotes/tests/firstclass.pdf Slides: https://pages.stern.nyu.edu/~adamodar/pdfiles/eqnotes/eqUGsyllspr23.pdf Post class test: https://pages.stern.nyu.edu/~adamodar/pdfiles/eqnotes/postclass/session1test.pdf Post class test: https://pages.stern.nyu.edu/~adamodar/pdfiles/eqnotes/postclass/session1soln.pdf
Session 2: First Steps on Valuation - Bias and the Bermuda Triangle
01:17:06

Session 2: First Steps on Valuation - Bias and the Bermuda Triangle

Today's class started with a test on whether you can detect the direction bias will take, based on who or why a valuation is done. The solutions are posted online on the webcast page for the class. We then moved on to talk about the three basic approaches to valuation: discounted cash flow valuation, where you estimate the intrinsic value of an asset, relative valuation, where you value an asset based on the pricing of similar assets and option pricing valuation, where you apply option pricing to value businesses. With discounted cash flow valuation, we started on the assessment phase by looking at its advantages (business understanding, cash flows to back you up) and disadvantages,. We will be starting on the first lecture note packet on Monday. So, please print off the packet or download it to your digital device and bring it to class. Start of the class test: https://pages.stern.nyu.edu/~adamodar/pdfiles/eqnotes/tests/biasshort.pdf Slides: https://pages.stern.nyu.edu/~adamodar/pdfiles/eqnotes/eqprojspr23.pdf & https://pages.stern.nyu.edu/~adamodar/pdfiles/eqnotes/ValIntroSpr23.pdf Post class test: https://pages.stern.nyu.edu/~adamodar/pdfiles/eqnotes/postclass/session2atest.pdf Post class test: https://pages.stern.nyu.edu/~adamodar/pdfiles/eqnotes/postclass/session2asoln.pdf
Session 3: Intrinsic and DCF Valuation - Laying the Groundwork
01:15:26

Session 3: Intrinsic and DCF Valuation - Laying the Groundwork

In this session, we started class by completing the discussion of pricing and real options, at least in a big picture sense. We then began our intrinsic value discussion by talking about the weapons of mass distraction. If you want to read the blog post I have on the topic, try this link: http://aswathdamodaran.blogspot.com/2014/03/if-it-is-strategic-growth-investment-in.html We then spent some time setting up the process of discounted cash flow valuation, arguing for consistency in discounting. If the cash flows that you are discounting are cash flows to equity, estimated either as dividends or as potential dividends, the discount rate should be the cost of equity. If the cash flows that you are discounting are pre-debt cash flows, i.e,, cash flows to the firm, the discount rate has to be the cost of capital. Done right, the value of equity should be equivalent with both approaches. Try the weekly challenge that I will send out next session, if you do not believe me. Start of the class test: https://pages.stern.nyu.edu/~adamodar/pdfiles/eqnotes/tests/kennecott.pdf Slides: https://pages.stern.nyu.edu/~adamodar/pdfiles/eqnotes/ValIntroSpr23.pdf & https://pages.stern.nyu.edu/~adamodar/podcasts/valUGspr23/session3slides.pdf Post class test: https://pages.stern.nyu.edu/~adamodar/pdfiles/eqnotes/postclass/session3atest.pdf Post class test: https://pages.stern.nyu.edu/~adamodar/pdfiles/eqnotes/postclass/session3asoln.pdf
Session 4: DCF Structure and Discount Rate First Steps
01:19:13

Session 4: DCF Structure and Discount Rate First Steps

We started the class by completing a big picture perspective on discounted cash flow models, noting that while the way we get cash flows, growth rates and discount rates will vary, they are not only tied together with the same principles but require internal consistency. We started then with a discussion of risk and how it plays out in discount rates, before embarking on an assessment of riskfree rates, and why they vary across currencies and what to do about really low or negative risk free rates. Start of the class test: https://pages.stern.nyu.edu/~adamodar/pdfiles/eqnotes/tests/riskfree.pdf Slides: https://pages.stern.nyu.edu/~adamodar/podcasts/valUGspr23/session4slides.pdf Post class test: https://pages.stern.nyu.edu/~adamodar/pdfiles/eqnotes/postclass/session4atest.pdf Post class test: https://pages.stern.nyu.edu/~adamodar/pdfiles/eqnotes/postclass/session4asoln.pdf
Session 5: Equity Risk Premiums
01:18:41

Session 5: Equity Risk Premiums

We started the class by completing the last loose ends on risk free rates, before turning our attention to equity risk premiums and what they purport to measures. We looked at historical risk premiums and their limits and then extended the discussion to estimate equity risk premiums for countries without much historical data. If you want to look at the historical returns on stocks, bills, bonds, real estate and gold in the United States, you can get the historical data at: https://pages.stern.nyu.edu/~adamodar/pc/datasets/histretSP.xlsx We will come back talk about alternatives to historical risk premiums in the coming sessions. If you are interested in seeing what the equity risk premiums look like, by country, take a look at the spreadsheet at the link below: https://pages.stern.nyu.edu/~adamodar/pc/datasets/ctryprem.xlsx On the riskfree rate front, try these two posts that I have on the topic, one to negative risk free rates and other to the Fed’s power (or lack of it) to set rates. Here are the links to those: 1. https://aswathdamodaran.blogspot.com/2016/03/negative-interest-rates-unreal.html?m=0 2. https://aswathdamodaran.blogspot.com/2013/06/the-fed-and-interest-rates-lessons-from.html Start of the class test: https://pages.stern.nyu.edu/~adamodar/pdfiles/eqnotes/tests/CountryRisk.pdf Slides: https://pages.stern.nyu.edu/~adamodar/podcasts/valUGspr23/session5slides.pdf Post class test: https://pages.stern.nyu.edu/~adamodar/pdfiles/eqnotes/postclass/session5Atest.pdf Post class test: https://pages.stern.nyu.edu/~adamodar/pdfiles/eqnotes/postclass/session5Asoln.pdf
Ten Great Investors Share the One Lesson They Would Teach the Average Investor
18:35

Ten Great Investors Share the One Lesson They Would Teach the Average Investor

When we started Excess Returns, we stayed away from having a standard closing question for guests because we couldn’t come up with one that summed up the knowledge of our guests into something simple that your average investor could understand. But a little over a year ago, we came up with a question that we thought worked perfectly. If our goal was to help investors learn along with us, then it made the most sense to ask our guests the most important lesson they had learned themselves. So we finally settled on our standard closing question: Based on your experience in markets, if you could teach one lesson to your average investor, what would it be? Since we started asking the question, we have received some amazing answers and we thought it would be interesting to take a look at some of the best ones. Here are the top 10 lessons our guests would teach your average investor. ABOUT THE PODCAST Excess Returns is an investing podcast hosted by Jack Forehand (@practicalquant) and Justin Carbonneau (@jjcarbonneau), partners at Validea. Justin and Jack discuss a wide range of investing topics including factor investing, value investing, momentum investing, multi-factor investing, trend following, market valuation and more with the goal of helping those who watch and listen become better long term investors. SEE LATEST EPISODES https://www.validea.com/excess-returns-podcast FIND OUT MORE ABOUT VALIDEA https://www.validea.com FOLLOW OUR BLOG https://blog.validea.com FIND OUT MORE ABOUT VALIDEA CAPITAL https://www.valideacapital.com FOLLOW JACK Twitter: https://twitter.com/practicalquant LinkedIn: https://www.linkedin.com/in/jack-forehand-8015094 FOLLOW JUSTIN Twitter: https://twitter.com/jjcarbonneau LinkedIn: https://www.linkedin.com/in/jcarbonneau
Can Warren Buffett Be Quantified?
16:52

Can Warren Buffett Be Quantified?

Welcome to Excess Returns, where our goal is to make you a better investor. If you enjoy this video, please like and subscribe to get more videos like it and to help us reach more investors like you. In this episode, we are going to try something a little different. Our goal at Validea is to capture quantitative strategies that work over the long-term. To do that, we go through books and academic papers to find factor-based models with results to back them up. We are going to periodically do some episodes for the podcast where we do a deep dive into these strategies and look at the factors behind them. In the first episode, we will take a detailed look at our strategy based on Warren Buffett, which was extracted from the book Buffettology. But before we look at the strategy's criteria in detail, we start with a more basic question: Can Warren Buffett be quantified? ABOUT THE PODCAST Excess Returns is an investing podcast hosted by Jack Forehand (@practicalquant) and Justin Carbonneau (@jjcarbonneau), partners at Validea. Justin and Jack discuss a wide range of investing topics including factor investing, value investing, momentum investing, multi-factor investing, trend following, market valuation and more with the goal of helping those who watch and listen become better long term investors. SEE LATEST EPISODES https://www.validea.com/excess-returns-podcast FIND OUT MORE ABOUT VALIDEA https://www.validea.com FOLLOW OUR BLOG https://blog.validea.com FIND OUT MORE ABOUT VALIDEA CAPITAL https://www.valideacapital.com FOLLOW JACK Twitter: https://twitter.com/practicalquant LinkedIn: https://www.linkedin.com/in/jack-forehand-8015094 FOLLOW JUSTIN Twitter: https://twitter.com/jjcarbonneau LinkedIn: https://www.linkedin.com/in/jcarbonneau
Timeless Investing and Life Lessons with Jim O’Shaughnessy
01:09:52

Timeless Investing and Life Lessons with Jim O’Shaughnessy

Welcome to Excess Returns, where our goal is to make you a better investor. If you enjoy this video, please like and subscribe to get more videos like it and to help us reach more investors like you. In this week's episode we are privileged to be joined by Jim O'Shaughnessy. Jim is a pioneer in quantitative investing and the founder of O'Shaughnessy Asset Management. He is also the author of the best selling book What Works on Wall Street, which is now on its 4th edition and is considered by many to be the definitive guide to factor-based investing. In this discussion, we get Jim's takes on a wide range of topics both in and outside the investing world. We discuss: [1] The recent struggles of value investing and what it means for the future [2] The process of updating an investment strategy over time while still adhering to your core principles [3]The role that investor behavior should play in the construction of investment strategies [4] The advice Jim would give to new parents based on his experience raising 3 children [5] The long-term changes that the current COVID-19 crisis might have on the way people work in the investment industry We hope you enjoy the discussion. MORE INFO ON O'SHAUGHNESSY ASSET MANAGEMENT https://osam.com FOLLOW JIM ON TWITTER https://twitter.com/jposhaughnessy OSAM ORIGINAL RESEARCH MENTIONED IN THE PODCAST Change Your Focus Change Your Future https://osam.com/pdfs/research/_41_Commentary_Jan20-09.pdf A Generational Opportunity https://osam.com/Commentary/pdfsresearch40commentarymar09pdf Inflation and the US Bond and Stocks Markets https://osam.com/Commentary/inflation-and-the-us-bonds-and-stock-markets Factors from Scratch https://osam.com/Commentary/factors-from-scratch Value Is Dead, Long Live Value https://osam.com/Commentary/value-is-dead-long-live-value A History Opportunity in Small Cap Stocks https://osam.com/Commentary/a-historic-opportunity-in-small-cap ABOUT THE PODCAST Excess Returns is an investing podcast hosted by Jack Forehand (@practicalquant) and Justin Carbonneau (@jjcarbonneau), partners at Validea. Justin and Jack discuss a wide range of investing topics including factor investing, value investing, momentum investing, multi-factor investing, trend following, market valuation and more with the goal of helping those who watch and listen become better long term investors. SEE LATEST EPISODES https://www.validea.com/excess-returns-podcast FIND OUT MORE ABOUT VALIDEA https://www.validea.com/ FOLLOW OUR BLOG https://blog.validea.com/ FIND OUT MORE ABOUT VALIDEA CAPITAL https://www.valideacapital.com/ FOLLOW JACK Twitter: https://twitter.com/practicalquant LinkedIn: https://www.linkedin.com/in/jack-forehand-8015094 FOLLOW JUSTIN Twitter: https://twitter.com/jjcarbonneau LinkedIn: https://www.linkedin.com/in/jcarbonneau/
What is the One Lesson You Would Teach the Average Investor? Ten Great Investors Tell Us
27:13

What is the One Lesson You Would Teach the Average Investor? Ten Great Investors Tell Us

In each episode of Excess Returns we ask all our guests one standard closing question: Based on your experience in markets, if you could teach one lesson to your average investor, what would it be? The question has allowed us to distill the major lessons that some of the best investors we know have learned in their careers into easy to understand principles that all of us can learn from. In this episode, we bring together all the best answers we have received so far in 2022. Here are the top 10 lessons our guests would teach your average investor. ABOUT THE PODCAST Excess Returns is an investing podcast hosted by Jack Forehand (@practicalquant) and Justin Carbonneau (@jjcarbonneau), partners at Validea. Justin and Jack discuss a wide range of investing topics including factor investing, value investing, momentum investing, multi-factor investing, trend following, market valuation and more with the goal of helping those who watch and listen become better long term investors. SEE LATEST EPISODES https://www.validea.com/excess-returns-podcast FIND OUT MORE ABOUT VALIDEA https://www.validea.com FOLLOW OUR BLOG https://blog.validea.com FIND OUT MORE ABOUT VALIDEA CAPITAL https://www.valideacapital.com FOLLOW JACK Twitter: https://twitter.com/practicalquant LinkedIn: https://www.linkedin.com/in/jack-forehand-8015094 FOLLOW JUSTIN Twitter: https://twitter.com/jjcarbonneau LinkedIn: https://www.linkedin.com/in/jcarbonneau
Why You Shouldn’t Try To Copy Warren Buffett
21:39

Why You Shouldn’t Try To Copy Warren Buffett

Welcome to Excess Returns, where our goal is to make you a better investor. If you enjoy this video, please like and subscribe to get more videos like it and to help us reach more investors like you. Warren Buffett is one of the greatest investors of all time. He has also been very generous in sharing the lessons he has learned over his career with all of us. There are many things all of us can and should learn from Buffett. But despite that, there are also many lessons that investors should not learn from what Buffett does. Like all investors, many of the things Buffett does are the result of his own unique situation. The majority of investors also have substantially smaller portfolios than Buffett and much shorter time frames. In this episode, we look at some lessons that investors should not learn from Warren Buffett. ABOUT THE PODCAST Excess Returns is an investing podcast hosted by Jack Forehand (@practicalquant) and Justin Carbonneau (@jjcarbonneau), partners at Validea. Justin and Jack discuss a wide range of investing topics including factor investing, value investing, momentum investing, multi-factor investing, trend following, market valuation and more with the goal of helping those who watch and listen become better long term investors. Justin's Article: https://blog.validea.com/four-things-buffett-does-most-investors-couldnt-or-shouldnt-do/ SEE LATEST EPISODES https://www.validea.com/excess-returns-podcast FIND OUT MORE ABOUT VALIDEA https://www.validea.com/ FOLLOW OUR BLOG https://blog.validea.com/ FIND OUT MORE ABOUT VALIDEA CAPITAL https://www.valideacapital.com/ FOLLOW JACK Twitter: https://twitter.com/practicalquant LinkedIn: https://www.linkedin.com/in/jack-forehand-8015094 FOLLOW JUSTIN Twitter: https://twitter.com/jjcarbonneau LinkedIn: https://www.linkedin.com/in/jcarbonneau/
The History of Berkshire Hathaway and Warren Buffett with Adam Mead
01:03:03

The History of Berkshire Hathaway and Warren Buffett with Adam Mead

There have been hundreds of books written about Warren Buffett and Berkshire Hathaway. So it rare for a book come out that does something that none of the others have. But a new book coming out in April does exactly that by offering the first full chronological history of Berkshire Hathaway, from the period prior to Buffett all the way to the current day. In this episode, we talk to Adam Mead, the author of The Complete Financial History of Berkshire Hathaway: A Chronological Analysis of Warren Buffett and Charlie Munger's Conglomerate Masterpiece. We discuss: - The origin story that brought Buffett together with Berkshire; - Buffett's best and worst investments, and his best investment you probably haven't heard about; - The key traits that led to Buffett's success; - What it is like to attend the Berkshire annual meeting. We hope you enjoy the discussion. #warrenbuffet #charliemunger #berkshirehathaway The Complete Financial History of Berkshire Hathaway: A Chronological Analysis of Warren Buffett and Charlie Munger's Conglomerate Masterpiece: Mead, Adam J.: 9780857199126: Amazon.com: Books https://www.amazon.com/Complete-Financial-History-Berkshire-Hathaway/dp/0857199129/ ADAM'S BLOG Home Page - The Oracle's Classroom https://theoraclesclassroom.com/ FOLLOW ADAM ON TWITTER Adam J. Mead (@BRK_Student) / Twitter https://twitter.com/brk_student ABOUT THE PODCAST Excess Returns is an investing podcast hosted by Jack Forehand (@practicalquant) and Justin Carbonneau (@jjcarbonneau), partners at Validea. Justin and Jack discuss a wide range of investing topics including factor investing, value investing, momentum investing, multi-factor investing, trend following, market valuation and more with the goal of helping those who watch and listen become better long term investors. SEE LATEST EPISODES https://www.validea.com/excess-returns-podcast FIND OUT MORE ABOUT VALIDEA https://www.validea.com FOLLOW OUR BLOG https://blog.validea.com FIND OUT MORE ABOUT VALIDEA CAPITAL https://www.valideacapital.com FOLLOW JACK Twitter: https://twitter.com/practicalquant LinkedIn: https://www.linkedin.com/in/jack-forehand-8015094 FOLLOW JUSTIN Twitter: https://twitter.com/jjcarbonneau LinkedIn: https://www.linkedin.com/in/jcarbonneau
Can Afterpay Touch Take Over the US? - The Young Investors Podcast | Episode 2
01:03:22

Can Afterpay Touch Take Over the US? - The Young Investors Podcast | Episode 2

In episode 2 of the podcast, we discuss Afterpay Touch, as well as recapping the week of news and answering your questions. Hamish's Channel: https://www.youtube.com/channel/UCODr9HUJ90xtWD-0Xoz4vPw ★ ★ THE YOUNG INVESTORS PODCAST ★ ★ Now available on YouTube, Apple Podcast and Spotify! ★ ★ MY COURSES ★ ★ Stock Market Investing for Beginners ► ★ ★ FOLLOW ME ★ ★ Instagram ► awc.brandon (check out IG TV!) Facebook ► https://www.facebook.com/Aussie-Wealth-Creation-286897268463379/ ★ ★ GETTING STARTED ★ ★ The Best Stock Market Book Ever Written ► https://amzn.to/2slAIBk Best Australian Personal Finance Book ► https://amzn.to/2snlhJ1 Best Stock Market for Beginners Book ► https://amzn.to/2slh4FT ★ ★ MY GEAR ★ ★ My Camera ► https://amzn.to/2slKL9B 2nd Camera ► https://amzn.to/2sgCow7 Feedback or business enquiries: aussiewealthcreation@gmail.com
The 'Value Investing' Strategy Explained - The Young Investors Podcast | Episode 1
55:38

The 'Value Investing' Strategy Explained - The Young Investors Podcast | Episode 1

Join me and Hamish Hodder as we start an exciting new project, our own investing podcast! This week we go through some weekly stock market news and talk about our investing styles! Hamish's Channel: https://www.youtube.com/channel/UCODr9HUJ90xtWD-0Xoz4vPw ★ ★ THE YOUNG INVESTORS PODCAST ★ ★ Now available on YouTube, Apple Podcast and Spotify! ★ ★ MY COURSES ★ ★ Stock Market Investing for Beginners ► ★ ★ FOLLOW ME ★ ★ Instagram ► awc.brandon (check out IG TV!) Facebook ► https://www.facebook.com/Aussie-Wealth-Creation-286897268463379/ ★ ★ GETTING STARTED ★ ★ The Best Stock Market Book Ever Written ► https://amzn.to/2slAIBk Best Australian Personal Finance Book ► https://amzn.to/2snlhJ1 Best Stock Market for Beginners Book ► https://amzn.to/2slh4FT ★ ★ MY GEAR ★ ★ My Camera ► https://amzn.to/2slKL9B 2nd Camera ► https://amzn.to/2sgCow7 Feedback or business enquiries: aussiewealthcreation@gmail.com
What Killed Sri Lanka's Economy?
15:46

What Killed Sri Lanka's Economy?

Sign up for Morning Brew Here: https://morningbrewdaily.com/patrickboyle In late June, Sri Lanka’s prime minister Ranil Wickremesinghe announced that the country’s economy had “collapsed.” There was no money left to pay for imports of necessities like food, fuel and medicine, and the country was seeking help from neighboring countries and the IMF. Sri Lanka is going through its worst economic crisis since it gained independence from Britain almost 75 years ago. In Today's video we ask the question, "What Killed Sri Lanka's Economy?" Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance Visit our website: www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Patrick Boyle On Finance Podcast: Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313 Google Podcasts: https://tinyurl.com/62862nve Join this channel to support making this content: https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join China's International Debt Crisis Video: https://www.youtube.com/watch?v=2tRL6XeNohI
China's International Debt Crisis
21:04

China's International Debt Crisis

In 2013 President Xi Jinping announced the launch of his signature policy, the Belt and Road Initiative, the largest transnational infrastructure program ever undertaken by a single country. Today though, many of the loans financing these huge infrastructure projects are going bad and going bad in record numbers. Today's video looks at the Belt and Road Initiative, how the projects are going and how recent events like Russia's invasion of Ukraine are affecting debtor nations like Sri Lanka, who defaulted on their sovereign debt in May of this year. Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance Visit our website: www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Patrick Boyle On Finance Podcast: Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313 Google Podcasts: https://tinyurl.com/62862nve Join this channel to support making this content: https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join
Turkey's Unravelling Economy.
19:30

Turkey's Unravelling Economy.

The Turkish lira has been in meltdown as President Erdogan rejected warnings on the dangers of his recent interest rate cuts. He vowed that there was “no going back”. The currency, which has lost about 40 per cent of its value against the dollar since the central bank started lowering borrowing costs in September, fell to a new record low of TL18.36 against the dollar on Monday Trading on Turkey’s main stock exchange was halted for the second consecutive session following a 5 per cent decline for the flagship index. The Turkish president, said in a televised speech on Sunday night “Don’t expect anything else from me, as a Muslim, I will continue to do whatever the religious decrees require.” Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance Visit our website: www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Patrick Boyle On Finance Podcast: Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313 Google Podcasts: https://tinyurl.com/62862nve Join this channel to support making this content: https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join
Turkey’s Latest Currency Move!
16:00

Turkey’s Latest Currency Move!

Subscribe to The Daily Upside! (Free Business & Finance Newsletter) https://bit.ly/32tOabb Having defied internal and external economic logic by repeatedly cutting interest rates, Erdogan opted this week for a new set of measures to stabilize its currency. What should we make of Turkey’s latest currency move? Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance Visit our website: www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Patrick Boyle On Finance Podcast: Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313 Google Podcasts: https://tinyurl.com/62862nve Join this channel to support making this content: https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join
The Inflation Reduction Act - Will it Work?
16:27

The Inflation Reduction Act - Will it Work?

This Tuesday Joe Biden signed into law a sweeping tax, healthcare, and climate bill, called the Inflation Reduction Act, a significantly pared back version of the “Build Back Better Plan” which he was hoping to pass last year. Fans of the new law claim that it will improve citizens’ finances while reducing the federal deficit and critics say it will lead to higher taxes for individuals and corporations, and that it will be ineffective at dampening inflation. Let’s look at the new legislation and try and work out to what extent it might reduce inflation which has been at its highest rate in around 40 years and see who the winners and losers are. Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance Visit our website: www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Patrick Boyle On Finance Podcast: Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313 Google Podcasts: https://tinyurl.com/62862nve Join this channel to support making this content: https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join
The European Cost Of Living Crisis!
16:26

The European Cost Of Living Crisis!

Rising energy prices could push UK inflation as high as 18% next year according to Citi. European gas prices rose sharply this week due to supply fears, after Gazprom Russia’s energy firm announced it would shut down the Nord Stream 1 pipeline - the main gas supply line to Europe - to complete three days of unplanned maintenance. Right now, Britain and the EU are in the middle of a cost-of-living crisis driven by energy inflation. What can be done to prevent this from happening again? Patrick's Books: Statistics For The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance Visit our website: www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Patrick Boyle On Finance Podcast: Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313 Google Podcasts: https://tinyurl.com/62862nve Join this channel to support making this content: https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

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