Hello. It’s G3 and this is a sad moment for Green Marbles. After 124 episodes, we have determined that we should go on hiatus for the time being. None of us took this decision lightly, but unfortunately, due to circumstances, we think it’s best.

Please know that we are grateful to you for listening and supporting the podcast and for your feedback, which we always took to heart.

Jordi and I didn’t know how things would turn out when we embarked on this journey, but I think I can speak for everyone on the Weiss team when I say that this podcast became an important, integral part of how the firm communicated ideas to the greater investment community. Some of those ideas covered straight markets topics, while others were intended to educate and to inspire, like the episode you’re about to hear which explores the connection between AI and cooking. And as usual, Jordi offers up plenty of green marbles throughout the discussion.

So, on behalf of George Weiss, Jordi Visser, Mike Edwards, Lundy Wright, my producing partner Reem Abbassi, our Compliance Team Victoria Stearns & Catherine McCabe – who always reminded me to remind you to check important disclosures at the end of the episode – Jena Roche, Pierce Archer and Jeff Dillabough, we thank you for listening.

And on a final note, my actual name isn’t G3. It’s Gregg Schoenberg, and I thank you as well.

And with that, welcome and hope to meet you again.

Timestamps:

• Who is G3? [1:28]
• How does Jordi connect learning to cook with learning how to use AI? [3:33]
• How can people begin integrating ChatGPT into their daily tasks? [8:36]
• Why is visualization a key part of learning how to use AI? [13:41]
• What analogy does Jordi use to describe ‘prompt engineering’? [17:09]

Resources:

• The art of perfectly scrambled eggs
• John Starks dunks on Michael Jordan
• Josh Waitzkin, The Art of Learning, "Beginner's Mind"
• Jordi’s LinkedIn
• Jordi's email: jordi.visser30@gmail.com
• G3's LinkedIn

Disclosures: This podcast and associated content (collectively, the “Post”) are provided to you by Weiss Multi-Strategy Advisers LLC (“Weiss”). The views expressed in the Post are for informational purposes only and are subject to change without notice. Information in this Post has been developed internally and is based on market conditions as of the date of the recording from sources believed to be reliable. Nothing in this Post should be construed as investment, legal, tax, or other advice and should not be viewed as a recommendation to purchase or sell any security or adopt any investment strategy. Past performance is no guarantee of future results. You should consult your own advisers regarding business, legal, tax, or other matters concerning investments. Any health-related information shared on the podcast is not intended as medical advice or for use in self-diagnosis or treatment. Please consult a qualified healthcare professional before acting upon any health-related information on the podcast. Weiss has no control over information at any external site hyperlinked in this Post. Weiss makes no representation concerning and is not responsible for the quality, content, nature, or reliability of any hyperlinked site and has...

Jordi and G3 are joined by special guest Robert Bogucki, a Portfolio Manager at Brevan Howard, where he leads liquid trading for BH Digital, the firm’s digital assets business.

Rob’s perch puts him right in the middle of the action when it comes to crypto flows, trends and narratives. He is also an old friend of Jordi’s who, as our listeners know, has a sharply defined vision for where crypto is heading.

With a little friendly provocation by G3, these two one-time derivatives traders had the green marbles flying in no time.

Please check important disclosures at the end of the episode

This podcast was recorded on February 27th.

Timestamps:

• How did Rob make the transition into crypto? [9:35]
• Who helped Rob overcome his initial skepticism on crypto? [14:49]
• How does Jordi view Bitcoin vs. other digital assets such as Ethereum and Solana? [27:54]
• What is the importance of the Bitcoin spot ETF to the macro landscape? [36:57]
• What is Rob’s perspective on crypto’s inherent volatility? [50:45]

Resources:

• Linkedin Biography for Robert Bogucki
• 9 Spot Bitcoin ETFs Break Volume Records
• Unraveling the Difference Between Bitcoin, Ethereum and Solana
• How Hedging Helps Bitcoin Miners

Disclosures: This podcast and associated content (collectively, the “Post”) are provided to you by Weiss Multi-Strategy Advisers LLC (“Weiss”). The views expressed in the Post are for informational purposes only and are subject to change without notice. Information in this Post has been developed internally and is based on market conditions as of the date of the recording from sources believed to be reliable. Nothing in this Post should be construed as investment, legal, tax, or other advice and should not be viewed as a recommendation to purchase or sell any security or adopt any investment strategy. Past performance is no guarantee of future results. You should consult your own advisers regarding business, legal, tax, or other matters concerning investments. Any health-related information shared on the podcast is not intended as medical advice or for use in self-diagnosis or treatment. Please consult a qualified healthcare professional before acting upon any health-related information on the podcast. Weiss has no control over information at any external site hyperlinked in this Post. Weiss makes no representation concerning and is not responsible for the quality, content, nature, or reliability of any hyperlinked site and has included hyperlinks only as a convenience. The inclusion of any external hyperlink does not imply any endorsement, investigation, verification, or ongoing monitoring by Weiss of any information in any hyperlinked site. In no event shall Weiss be responsible for your use of a hyperlinked site. This is not intended to be an offer or solicitation of any security. Please visit www.gweiss.com to review related disclosures and learn more about Weiss.

As many of you know, there is no Fed meeting this month. As such, it would be reasonable to assume that we wouldn’t have Lundy Wright on the podcast because he’s the expert we turn to when it comes to analyzing the latest meeting.

However, as you may have noticed, a recent spat of economic numbers has put a real question mark over the prospect of rate cuts any time soon. If not flipped, the script has certainly been ruffled. So, we asked Lundy to come on and provide his latest views on where things stand and what factors he’s watching ahead of the March Fed meeting.

Please check important disclosures at the end of the episode.

This episode was recorded on Wednesday, February 21st after the market close.

Timestamps:

• Does Lundy think that seasonal factors have skewed January data, including Core CPI? [5:16]
• What is the r-star rate and why does Lundy refer to it as “mythical nonsense”? [8:55]
• Could the supply of Treasuries that will come to market counter economic stimulus? [17:39]
• What is Lundy anticipating ahead of the March Fed meeting? [23:48]
• What is Lundy’s “recipe” for creating trading paralysis in the bond market? [27:55]

Resources:

• Fact Sheet on seasonal adjustments in the CPI
• Gazing at r-star: Gauging U.S. monetary policy via the natural rate of interest
• An ugly 20-year bond auction

Disclosures: This podcast and associated content (collectively, the “Post”) are provided to you by Weiss Multi-Strategy Advisers LLC (“Weiss”). The views expressed in the Post are for informational purposes only and are subject to change without notice. Information in this Post has been developed internally and is based on market conditions as of the date of the recording from sources believed to be reliable. Nothing in this Post should be construed as investment, legal, tax, or other advice and should not be viewed as a recommendation to purchase or sell any security or adopt any investment strategy. Past performance is no guarantee of future results. You should consult your own advisers regarding business, legal, tax, or other matters concerning investments. Any health-related information shared on the podcast is not intended as medical advice or for use in self-diagnosis or treatment. Please consult a qualified healthcare professional before acting upon any health-related information on the podcast. Weiss has no control over information at any external site hyperlinked in this Post. Weiss makes no representation concerning and is not responsible for the quality, content, nature, or reliability of any hyperlinked site and has included hyperlinks only as a convenience. The inclusion of any external hyperlink does not imply any endorsement, investigation, verification, or ongoing monitoring by Weiss of any information in any hyperlinked site. In no event shall Weiss be responsible for your use of a hyperlinked site. This is not intended to be an offer or solicitation of any security. Please visit www.gweiss.com to review related disclosures and learn more about Weiss.

This week, G3 welcomes Mike Edwards onto the pod to continue their exploration of how the 2024 election could impact markets today and in the future. As listeners know, Mike has been a frequent guest on the show given the eye-popping headlines we are witnessing as the 2024 election season approaches.

Topics covered in the conversation include whether the market has priced in the difference between MAGA and traditional Republicanism, Donald’s Trump’s potential immigration & tariff policies, Trump’s recent comments concerning NATO and his desire to be a dictator for a day, and President Biden’s perceived frailty.

Please check important disclosures at the end of the episode.

This episode was recorded on Tuesday, February 14th.

Timestamps:

• Should Trump win the election and remove sanctions on Russia, what could be the potential effects on the Russia-China relationship? [11:44]
• How might Inflation play into the tariff regime that Trump is proposing? [17:11]
• How are our European allies reacting to Trump’s statements concerning NATO? [22:27]
• Does Mike believe that the markets are likely to “freak out” if Trump wins? [31:25]

Resources:

• Jordi’s latest webinar
• NBER: Help for the Heartland? The Employment and Electoral Effects of the Trump Tariffs in the United States
• The Democratic Party is Having an Identity Crisis by Ezra Klein
• Historically Low Faith in U.S. Institutions Continues

Disclosures: This podcast and associated content (collectively, the “Post”) are provided to you by Weiss Multi-Strategy Advisers LLC (“Weiss”). The views expressed in the Post are for informational purposes only and are subject to change without notice. Information in this Post has been developed internally and is based on market conditions as of the date of the recording from sources believed to be reliable. Nothing in this Post should be construed as investment, legal, tax, or other advice and should not be viewed as a recommendation to purchase or sell any security or adopt any investment strategy. Past performance is no guarantee of future results. You should consult your own advisers regarding business, legal, tax, or other matters concerning investments. Any health-related information shared on the podcast is not intended as medical advice or for use in self-diagnosis or treatment. Please consult a qualified healthcare professional before acting upon any health-related information on the podcast. Weiss has no control over information at any external site hyperlinked in this Post. Weiss makes no representation concerning and is not responsible for the quality, content, nature, or reliability of any hyperlinked site and has included hyperlinks only as a convenience. The inclusion of any external hyperlink does not imply any endorsement, investigation, verification, or ongoing monitoring by Weiss of any information in any hyperlinked site. In no event shall Weiss be responsible for your use of a hyperlinked site. This is not intended to be an offer or solicitation of any security. Please visit www.gweiss.com to review related disclosures and learn more about Weiss.

This week, Jordi and G3 welcome Sultan Meghji back to the podcast. As long-time listeners know, when Sultan is the guest, green marbles start flying everywhere.

This episode continues in that tradition, but it focuses narrowly on cybersecurity, as Jordi and Sultan believe that cybersecurity isn’t getting the attention it deserves by the markets. In fact, while generative AI may have been the key factor driving the equity markets higher last year, 2024 is a new ball game. And cybersecurity – not LLMs – could represent the dominant narrative this year. But according to Jordi, the best way to participate in the “cyber surge” is through Bitcoin.

Please check important disclosures at the end of the episode.

Timestamps:

• What is Jordi’s point of view on the national threat posed by TikTok? [9:12]
• How confident is Sultan on the U.S. possessing superior abilities to defend against cyber attacks? [21:46]
• Is the strong market performance of leading cybersecurity names a reflection of a growing concern of a cyber attack? [25:14]
• What is the role of decentralization, blockchain, and crypto in combatting cyber attacks? [34:05]
• What advice does Sultan offer on how to prevent being hacked? [42:18]

Resources:

• Frontier Foundry’s website
• UK report on state-sponsored cyber attackers
• First of its kind AI heist
• AI Voice Scams
• What ever happened to Alta Vista?

Disclosures: This podcast and associated content (collectively, the “Post”) are provided to you by Weiss Multi-Strategy Advisers LLC (“Weiss”). The views expressed in the Post are for informational purposes only and are subject to change without notice. Information in this Post has been developed internally and is based on market conditions as of the date of the recording from sources believed to be reliable. Nothing in this Post should be construed as investment, legal, tax, or other advice and should not be viewed as a recommendation to purchase or sell any security or adopt any investment strategy. Past performance is no guarantee of future results. You should consult your own advisers regarding business, legal, tax, or other matters concerning investments. Any health-related information shared on the podcast is not intended as medical advice or for use in self-diagnosis or treatment. Please consult a qualified healthcare professional before acting upon any health-related information on the podcast. Weiss has no control over information at any external site hyperlinked in this Post. Weiss makes no representation concerning and is not responsible for the quality, content, nature, or reliability of any hyperlinked site and has included hyperlinks only as a convenience. The inclusion of any external hyperlink does not imply any endorsement, investigation, verification, or ongoing monitoring by Weiss of any information in any hyperlinked site. In no event shall Weiss be responsible for your use of a hyperlinked site. This is not intended to be an offer or solicitation of any security. Please visit www.gweiss.com to...

On this week’s In Search of Green Marbles, G3 welcomes Weiss’s political expert, Mike Edwards, to discuss the 2024 election cycle. As things are beginning to heat-up, there was no shortage of subjects for them to discuss.

Topics included which sectors of the economy would benefit under Biden and Trump, how tariff talk and tax policy are connected, Chevron Deference’s importance, the implications of the UAW’s Shawn Fain’s decision to back Biden, the Trump Veepstakes, the Taylor Swiftboating of the GOP and why Nikki Haley is staying in the GOP race for now.

Please check important disclosures at the end of the podcast.

Timestamps:

• What's the strategy behind Donald Trump's push for higher tariffs on Chinese imports? [2:59]
• What is Mike's opinion on the polling data showing Americans have more confidence in Trump's economic leadership compared to Biden's? [14:52]
• Are there any surprises in the Biden and MAGA Baskets being issued by the sell-side firms? [20:35]
• Does Mike give any credence to any of the political ‘Page Six’ worthy stories that he has been hearing? [31:20]

Resources:

• Donald Trump Ramps Up Threat of Tariff War if Elected President
• SCOTUS Likely to Discard Chevron Deference
• Trump Is in a One-Sided Popularity Contest With Taylor Swift
• Byron Donalds Biography

Disclosures: This podcast and associated content (collectively, the “Post”) are provided to you by Weiss Multi-Strategy Advisers LLC (“Weiss”). The views expressed in the Post are for informational purposes only and are subject to change without notice. Information in this Post has been developed internally and is based on market conditions as of the date of the recording from sources believed to be reliable. Nothing in this Post should be construed as investment, legal, tax, or other advice and should not be viewed as a recommendation to purchase or sell any security or adopt any investment strategy. Past performance is no guarantee of future results. You should consult your own advisers regarding business, legal, tax, or other matters concerning investments. Any health-related information shared on the podcast is not intended as medical advice or for use in self-diagnosis or treatment. Please consult a qualified healthcare professional before acting upon any health-related information on the podcast. Weiss has no control over information at any external site hyperlinked in this Post. Weiss makes no representation concerning and is not responsible for the quality, content, nature, or reliability of any hyperlinked site and has included hyperlinks only as a convenience. The inclusion of any external hyperlink does not imply any endorsement, investigation, verification, or ongoing monitoring by Weiss of any information in any hyperlinked site. In no event shall Weiss be responsible for your use of a hyperlinked site. This is not intended to be an offer or solicitation of any security. Please visit www.gweiss.com to review related disclosures and learn more about Weiss.

Normally, when Weiss’s bond expert, Lundy Wright, comes onto the pod, it’s because the Fed has just met and made its decision on interest rates and the choice of words it used in the accompanying statement. We also spend a lot of time discussing Chairman Powell’s press conference that follows the decision and what he said (or didn’t say) and how he answered questions posed to him by the press.

But it’s a new year, and G3 is going to try something new in ‘24. As our listeners know, the Fed will be meeting next week, so G3 invited Lundy onto the pod ahead of time. In doing so, our hope is that it will provide our audience with a new vantage point by revealing the specific things that Lundy will be looking for during the meeting.

Please check important disclosures at the end of the episode.

This episode was recorded on Thursday, January 25th.

Timestamps:

• Besides the FOMC meeting, what other factors could drive markets next week? [1:50]
• When did markets start expecting rate cuts as a norm instead of a response to economic downturns? [8:25]
• Could details of the anticipated tapering of quantitative tightening play a role in the market’s reaction to the Fed meeting? [16:29]
• How might the markets react to a divergence between the Fed’s statement and Powell’s press conference? [22:28]

Resources:

• Overview of the TBAC
• The careful balance between hard and soft data on the economy
• The Fed and the dual mandate in plain English
• Lagarde speaks after rate decision
• How might the Fed roll back QT?

Disclosures: This podcast and associated content (collectively, the “Post”) are provided to you by Weiss Multi-Strategy Advisers LLC (“Weiss”). The views expressed in the Post are for informational purposes only and are subject to change without notice. Information in this Post has been developed internally and is based on market conditions as of the date of the recording from sources believed to be reliable. Nothing in this Post should be construed as investment, legal, tax, or other advice and should not be viewed as a recommendation to purchase or sell any security or adopt any investment strategy. Past performance is no guarantee of future results. You should consult your own advisers regarding business, legal, tax, or other matters concerning investments. Any health-related information shared on the podcast is not intended as medical advice or for use in self-diagnosis or treatment. Please consult a qualified healthcare professional before acting upon any health-related information on the podcast. Weiss has no control over information at any external site hyperlinked in this Post. Weiss makes no representation concerning and is not responsible for the quality, content, nature, or reliability of any hyperlinked site and has included hyperlinks only as a convenience. The inclusion of any external hyperlink does not imply any endorsement, investigation, verification, or...

G3 welcomes Jordi Visser onto the podcast to offer up a market update.

Thus far, January has kicked off 2024 to a rocky start. Jordi will discuss the headwinds behind this turbulence and offer his latest perspectives on inflation, AI and investor sentiment. Jordi and G3 also discuss the Mag-7 and whether or not Apple has Tesla should remain in the group.

Please check important disclosures at the end of the episode.

This episode of Green Marbles was recorded on Wednesday, January 17th.

Timestamps:

• What are Jordi’s market expectations in the short term? [1:45]
• Why might declining inflation fail to be a tailwind for the equity market? [8:30]
• What does Jordi mean by “demographic adjusted net worth”? [13:18]
• What are some of the surprises that Jordi is eyeing this year? [20:15]

Resources:

• Baby Boomers are hitting “Peak 65”
• 2024 Market Outlook [Video]
• Chinese economic outlook is weak
• Mistral complete fundraising valuing the start-up at $2 billion

Disclosures: This podcast and associated content (collectively, the “Post”) are provided to you by Weiss Multi-Strategy Advisers LLC (“Weiss”). The views expressed in the Post are for informational purposes only and are subject to change without notice. Information in this Post has been developed internally and is based on market conditions as of the date of the recording from sources believed to be reliable. Nothing in this Post should be construed as investment, legal, tax, or other advice and should not be viewed as a recommendation to purchase or sell any security or adopt any investment strategy. Past performance is no guarantee of future results. You should consult your own advisers regarding business, legal, tax, or other matters concerning investments. Any health-related information shared on the podcast is not intended as medical advice or for use in self-diagnosis or treatment. Please consult a qualified healthcare professional before acting upon any health-related information on the podcast. Weiss has no control over information at any external site hyperlinked in this Post. Weiss makes no representation concerning and is not responsible for the quality, content, nature, or reliability of any hyperlinked site and has included hyperlinks only as a convenience. The inclusion of any external hyperlink does not imply any endorsement, investigation, verification, or ongoing monitoring by Weiss of any information in any hyperlinked site. In no event shall Weiss be responsible for your use of a hyperlinked site. This is not intended to be an offer or solicitation of any security. Please visit www.gweiss.com to review related disclosures and learn more about Weiss.