Episodes

What President Trump Doesn't Get About Interest Rates

Episode #144 | March 5, 2020

In This Episode

Dan called it. The Fed recently cut interest rates in response to the fears caused by the Coronavirus.

But will lower interest rates make up for the economic slowdown the Coronavirus will likely have? Dan cautions against optimism in the market going forward.

He then introduces this week’s guest, Gregory Zuckerman. Greg is a journalist for The Wall Street Journal, and is a three-time winner of the Gerald Loeb Award, the highest honor in business journalism.

Zuckerman’s new book, The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution, dives deep into one of the most well-kept secrets of the finance industry, Renaissance Technologies.

Renaissance’s Medallion Fund is widely considered the most successful hedge fund ever. The fund’s success is so unprecedented that it is only open to current and past employees and their families.

Dan and Greg talk about how the Medallion Fund was able to return 66% annually over a 30-year span from 1988 to 2018, what they do differently than everyone else, and how they keep their trading strategies a secret even to this day.