The New Barbarians Podcast

🔥 The Hidden Pattern Linking Argentina's Currency Collapse, Music Industry, and BitcoinWelcome to the New Barbarians podcast! We're diving deep into how current market events are shaping traditional investment portfolios. We see digital asset management and digital disruption as the future, especially with the rise of AI in finance. These tech trends are fundamentally changing the financial landscape. 🤖What connects Argentina’s economic collapse, the fall of the music industry during the Napster era, and the rise of Bitcoin? At first glance—nothing. But underneath, there’s a powerful hidden pattern that explains how institutions break, evolve, and get replaced.In this video, we explore a firsthand journey through three major disruptions—growing up during Argentina’s currency crisis, working inside the music industry during digital piracy, and later helping build in the Bitcoin ecosystem. The insight? Institutions don’t just fail randomly—they follow a predictable cycle.🧠 The Core IdeaEvery system facing disruption tends to follow the same path:👉 Ignore it👉 Fight it👉 Become itFrom centralized currencies to record labels to information systems, this pattern repeats—and understanding it can give you a major edge in business, investing, and technology.📊 What You’ll Learn in This Video✔️ The real story behind Argentina’s currency collapse✔️ How digital disruption reshaped the music industry✔️ Why Bitcoin emerged from broken financial systems✔️ The concept of information asymmetry and institutional failure✔️ How narratives spread and shape markets✔️ Why we’re better at destroying systems than building new ones🚀 About the GuestGrew up in Argentina during economic instabilityWorked in the music industry during the torrent/Napster disruptionFormer VP Marketing at a Bitcoin infrastructure companyNow building a narrative intelligence platform tracking 1000+ sources across digital assets🔗 Follow the guest:Twitter (X): https://x.com/basedlayerWebsite: https://fernandonikolic.com/Linkedin: https://www.linkedin.com/in/fernandonikolic/ 🎯 Who This Video Is ForThis video is perfect for:Bitcoin & crypto enthusiastsMacro investors & analystsEntrepreneurs & buildersTech and media professionalsAnyone interested in how systems rise and fall🔑 SEO Target KeywordsArgentina currency collapse, Bitcoin origin story, music industry disruption Napster, institutional collapse patterns, crypto narrative analysis, financial system failure, digital disruption examples, Bitcoin adoption, macro trends crypto, information asymmetry markets.💡 Key InsightThe biggest opportunities don’t come from stable systems—they come from watching what breaks, understanding why, and building what comes next.🔔 Stay Connected👉 Like if this perspective made you think👉 Subscribe for more deep dives on Bitcoin, macro, and systems👉 Comment which system you think is next to collapse⚡ Trending Hashtags#Bitcoin #Argentina #EconomicCollapse #Crypto #DigitalDisruption #Napster #MacroEconomics #Blockchain #FutureOfFinance #TechTrends #InformationEconomy

Agentic Finance: Building AI Analysts for the Debasement Trade Era — with Vlad Stanev of QuantlyAs global currencies face increasing debasement pressures, the next evolution in finance is here — Agentic AI Analysts. 💡In this episode, we sit down with Vlad Stanev, Founder of Quantly, to explore how AI-driven financial agents are redefining strategy, analysis, and alpha generation in the new economic era.We discuss:✅ What “Agentic Finance” really means — and why it matters now✅ How AI analysts are transforming trading and portfolio management✅ The role of automation in navigating currency debasement✅ What the future of human + AI collaboration in finance looks likeIf you want to understand where intelligent finance is headed — and how to stay ahead in the AI-driven trading revolution, this episode is your roadmap.More Related Tags:agentic finance, ai analysts, quantly, vlad stanev, ai in finance, debasement trade, financial ai tools, quantitative finance, ai trading systems, algorithmic trading, ai investing, fintech innovation, finance automation, ai portfolio management#agenticfinance #artificialintelligence #quantfinance #systematicinvesting #aiinfinance #fintech #financialmarkets #machinelearning #algorithmictrading #cryptoeconomy #futureoffinance #investing #digitalfinance #tradingstrategy #financeinnovation

Between Markets and Masterpieces Debby Goan on Breaking Barriers and Blending Worlds🌟 Introduction▪️Brief host introduction.▪️Introducing Debby Goan – her journey from Stillwater, Oklahoma, to leading innovation across finance, technology, and the arts.▪️Highlights:▪️Only minority woman with a member seat at the American Stock Exchange▪️Transformational leadership in fintech▪️Deep artistic engagement🧭 Segment 1: Early Life and Personal Journey▪️Growing up as a child of Taiwanese immigrants in Oklahoma and Texas.▪️The influence of multicultural upbringing on identity and ambition. (upwardgallery+1)💼 Segment 2: Career in Finance and Technology▪️Breaking barriers in ETF trading and at the American Stock Exchange.▪️Leading turnarounds and launching data-driven SaaS ventures in finance and insurance.▪️Experiences as Operating Partner and GM at Two Sigma. (linkedin)🎨 Segment 3: Art, Creativity, and Overlapping Identities▪️Transitioning from finance to visual art — or balancing both.▪️Artistic philosophy: communicating emotions and exploring the “space between the theoretical and the actual.”▪️Major artistic milestones, mediums she works in, and notable exhibitions and awards. (upwardgallery+1)🚀 Segment 4: Current Projects and Entrepreneurship▪️Founding Petite Palates – what inspired her and how it connects to earlier leadership. (linkedin+1)▪️Board role at The Art Students League of New York. (artstudentsleague)▪️Mentoring and supporting diverse voices in both tech and arts.🧠 Segment 5: Leadership, Mentoring, and Future Directions▪️Views on leadership — transforming teams and industries.▪️Mentoring advice for minorities, women, and creative technologists.▪️Future projects and aspirations.🔚 Wrap-Up▪️Quickfire Round:▪️Personal fact▪️Favorite piece of art▪️Most important lesson learned▪️Where listeners can connect with Debby’s work online.🎤 Interview Questions🪶 Background & Identity▪️How did your multicultural childhood in Oklahoma and Texas shape your sense of possibility and creativity? (debbygoan+1)▪️Who were your earliest influences—within your family or community—that sparked your interest in both art and finance?💹 Breaking Barriers in Finance/Tech⚡ Quickfire / Personal▪️What are you reading, listening to, or watching right now that inspires you?▪️What’s one lesson—artistic or professional—you wish more people learned early in their careers?▪️Where can our audience see your latest work or reach out to connect?🏢 Debby's Companies▪️Petite Palates | Organic Savory Baby Food▪️HarmoniQ Insights | Elevate Your Strategy🎧 This structure will help ensure a thoughtful, dynamic, and engaging episode that brings out Debby’s unique voice and resonates with your audience. (debbygoan+2)▪️https://www.debbygoan.com/curriculumvitae▪️https://upwardgallery.com/ad/interviews/debby-goan-i-am-often-creating-order-communicate-emotional-heft-moment ▪️https://www.linkedin.com/in/debby-goan ▪️https://upwardgallery.com/artists/2994/6330 ▪️https://www.instagram.com/debbygoan/ ▪️https://www.artstudentsleague.org/resources/board-candidates ▪️https://www.linkedin.com/posts/debby-goan_im-excited-to-introduce-petite-palates-activity-7262895101931143170-BtxE ▪️https://www.debbygoan.com https://www.artsy.net/artist/debby-goan ▪️https://associationforjewishstudies.org/docs/default-source/ajs-perspectives/ajs_perspectives_fall_2021_web.pdf?sfvrsn=5e20f4a3_14#artandbusiness, #creativeentrepreneur, #innovation, #womeninbusiness, #artworld, #successmindset, #leadership, #motivation, #inspiration, #businessgrowth, #creativemindset, #entrepreneurlife, #breakingbarriers, #storytelling, #creativity

Quant Pioneers & The Battle: Bartt Kellermann on Shaping the Future of Systematic InvestingIn this thought-provoking episode, we sit down with Bartt Kellermann, founder of Global Capital Acquisition and creator of Battle of the Quants, to explore how systematic investing, AI, and quantitative innovation are redefining modern finance.Discover:✅ How quant strategies evolved from niche to mainstream✅ The balance between human intuition and machine learning✅ The global influence of Battle of the Quants events✅ What the future holds for investors, institutions, and innovators

Aaron Brown: Quantitative Risk, Crypto, and the "Wrong Number" Revolution | New Barbarians PodcastJoin us on the New Barbarians Podcast for a compelling session with Aaron Brown, legendary risk manager and quant strategist. We dive into Aaron’s landmark career bridging professional gambling, hedge fund risk management, and quantitative investing — spanning lessons from Wall Street, the evolution of risk frameworks, and the rise of multi-asset strategies including bitcoin and crypto. Discover how Aaron’s unique background feeds into his latest project, the "Wrong Number" video series, where he unpacks widespread misunderstandings in statistics and research through engaging stories. This episode offers an inside perspective into systemic risk, smart investing, and the future of financial data literacy, presented by one of the field’s most creative minds.In this episode of the New Barbarians Podcast, we sit down with Aaron Brown — a leading thinker in quantitative risk, financial systems, and crypto. Known for his unconventional insights and the idea of the “Wrong Number” revolution, Aaron challenges traditional assumptions about risk, probability, and the future of finance.What you’ll discover:✅ How quantitative risk is reshaping markets✅ Aaron’s take on crypto and decentralized finance✅ Why the “Wrong Number” revolution matters for investors, entrepreneurs, and everyday decision-making✅ Fresh perspectives on uncertainty, strategy, and navigating changeIf you’re interested in the future of finance, crypto, and risk management, this conversation is packed with insights you won’t want to miss.#AaronBrown, #CryptoInsights, #WrongNumberRevolution, #NewBarbariansPodcast, #FinancialRisk, #CryptoInvesting, #QuantitativeFinance, #BlockchainTrends, #RiskManagement, #CryptoMarket, #FutureOfFinance, #SystematicInvesting, #FinancialEducation, #CryptoStrategy#quantitativerisk, #crypto, #bitcoin, #blockchain, #financialmarkets, #portfolio, #trading, #macroeconomics, #financepodcast, #financialeducation, #quantfinance, #investingtips

Join Bill Mann and Mark Connors in Episode 35 of The New Barbarians podcast with special guest Ehsan Ehsani. Ehsan, Executive Director at Crescendo Partners, Adjunct Professor at Columbia Business School, and author of "Finding Value in Numbers," shares unique insights on the intersection of generative AI and traditional value investing.In this episode, we explore:- The crucial skills young professionals need to thrive in an AI-powered financial world.- How GenAI enhances classic value investing workflows, from idea generation to preliminary research.- The "buy vs. build" dilemma for fundamental shops adopting AI technologies.- The future of investment research as AI tools become increasingly sophisticated.A preview of the Generative AI in Investment Management Conference at Columbia, where attendees can explore solutions from nearly 20 GenAI providers.Ehsan also discusses his upcoming books, including "How Not to be Replaced by a Spreadsheet that Talks," offering a candid look at adapting to technological change without sacrificing human judgment. This is a must-listen for anyone in finance grappling with the rapid evolution of AI and its impact on careers and investment strategies.Featured Guest:Ehsan Ehsani: Executive Director, Crescendo Partners; Adjunct Professor, Columbia Business School; Author of "Finding Value in Numbers" and "How Not to be Replaced by a Spreadsheet that Talks." Organizer of the Generative AI in Investment Management Conference.Links & Resources:📇 Ehsan Ehsani on LinkedIn: https://www.linkedin.com/in/ehsani/📰 Value Hedgehog Newsletter: https://www.linkedin.com/newsletters/7099112971280203776/🏟 Generative AI in Investment Management Conference: GAIMConference.com📕 Pre-order "Finding Value in Numbers": https://a.co/d/2ETE84i⛓ Unchained (Sponsor): unchained.com🔗 Follow Our Work:📜 Substack: New Barbarians Podcast - https://substack.com/@newbarbarians 📜 Substack: Mark R. Connors - https://substack.com/@markrconnors📜 Harmonic Insights (Bill Mann & Chris Rosa) - https://www.harmoniqinsights.com/📜 SSRN Practitioner Quant Research - https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=2035436📜 SmartKarma - Bill Mann -- https://www.smartkarma.com/profiles/william-mann-88ce6ae0-716e-4511-98ee-65b1af2765ff/researchTwitter - thenewbarbarianspodcast (@thenewbarbpod) / XChapters00:00 Market Overview and Economic Insights02:57 Quantitative Finance and Systematic Investing05:26 Macro Trends and Employment Dynamics07:48 Generative AI in Investment Management10:14 The Future of Jobs and Skills in Finance12:53 AI's Impact on Investment Strategies15:21 Conclusion and Conference Insights27:56 The Energy Dynamics of Bitcoin and AI30:19 Transitioning from Consulting to Investment Management34:16 The Power of Writing and Networking37:23 Embracing Generative AI in Value Investing43:36 Enhancing Investment Processes with AI50:18 The Future of AI in Investment Management55:52 Build vs. Buy: Strategies for AI Adoption#GenerativeAI #AIinFinance #InvestmentManagement #ValueInvesting #Fintech #AIInvesting #LLMforFinance #ColumbiaBusinessSchool #NewBarbariansPodcast #FinancialFutures #CareerDevelopment #AlphaGeneration #QuantFinance #DigitalTransformation #AssetManagement #EhsanEhsani #FutureOfWork #StockMarket #Podcast #Technology #WealthManagement

Today’s episode spotlights Charlie Marin (CEO, Quanted) on building the “Amazon-meets-Palantir” data bridge for investors—turning idea → feature → backtest into a rapid, agent-driven loop. Bill and Mark frame the macro: rates over equities, MOVE vs. VIX, factor rotations (value/cyclicals), credit spreads, and why point-in-time data & revisions matter. Charlie breaks down vendor onboarding with AI agents, metadata-rich discovery, and how faster feature pipelines change quant research—and the startup journey to Quanted’s upcoming relaunch.Follow Charlie & Quanted:Charlie on LinkedIn: https://www.linkedin.com/in/c-simi/Quanted on LinkedIn: https://www.linkedin.com/company/quanted-tech/Book a Meeting: https://www.quanted.com/🔗 Follow Our Work:📜 Substack: New Barbarians Podcast - https://substack.com/@newbarbarians 📜 Substack: Mark R. Connors - https://substack.com/@markrconnors📜 Harmonic Insights (Bill Mann & Chris Rosa) - https://www.harmoniqinsights.com/📜 SSRN Practitioner Quant Research - https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=2035436📜 SmartKarma - Bill Mann -- https://www.smartkarma.com/profiles/william-mann-88ce6ae0-716e-4511-98ee-65b1af2765ff/researchTwitter - thenewbarbarianspodcast (@thenewbarbpod) / XChapters00:00 Introduction to Quanted and Its Mission01:22 Exploring the Startup Journey03:59 Market Analysis and Economic Indicators06:14 Interest Rates and Market Volatility09:12 Understanding Job Market Data and Revisions14:11 Interest Rates and Market Reactions19:04 The Impact of COVID on Economic Cycles23:06 Debt Dynamics and Market Volatility27:28 Comparing Economic Cycles: Past and Present34:06 The Future of Work and Economic Stability40:20 The Data Landscape: Challenges and Opportunities42:58 Streamlining Data Testing and Vendor Engagement45:53 The Role of AI in Data Processing48:17 Building a Predictive Data Ecosystem51:24 Navigating the Competitive Landscape of Hedge Funds56:37 The Future of Investment Processes01:02:22 Startup Journey: Overcoming Challenges in Data Management01:07:17 Looking Ahead: Future Developments for Quantid#NewBarbariansPodcast #CharlieMarin #Quanted #QuantData #AltData #AIinFinance #FeatureEngineering #Backtesting #QuantResearch #Macro #InterestRates #YieldCurve #MOVEIndex #ValueFactor #Cyclicals

In this episode, Bill Mann and Mark Connors sit down with Michael Nadeau, founder of The DeFi Report, to explore the future of digital assets, DeFi, and on-chain research. From macro backdrops to tokenization and the reflexivity of crypto markets, Michael shares how his journey from MIT and LinkedIn posts evolved into one of the most influential Substacks in digital assets.The conversation spans:Market updates and factor rotations in global assetsOn-chain data vs. Wall Street narrativesThe rise of stablecoins and Tether’s surprising role with U.S. treasuriesWhy crypto’s reflexivity can be both powerful and dangerousWeb3’s shift from read/write to read/write/ownInstitutional adoption, tokenization of real-world assets, and privacy in DeFiThe asymmetric bet on public blockchainsHow frameworks from Kahneman’s Thinking, Fast and Slow help investors break fixed mindsets Timestamps00:45 – Market Setup & Fed PolicyBill opens with inflation, interest rates, and global asset performance.02:00 – Culture, Movies & NoiseAnimal House quotes → how cultural distractions differ from on-chain truth.07:30 – Jackson Hole: TradFi vs. Digital AssetsDigital asset symposium gains traction alongside the Fed’s annual gathering.12:42 – The Origin of The DeFi ReportMichael’s journey from MIT → LinkedIn posts → Substack → Bankless partnership.14:09 – The Asymmetric BetWhy Bitcoin and public blockchains represented a career-changing investment thesis.21:31 – Politics, Regulation & GenslerLessons from SEC leadership, courts, and the role of regulation in crypto adoption.28:09 – Web3: Read. Write. Own.How new data structures change ownership, content, and payments online.34:28 – On-Chain Data & ReflexivityReal-time transparency, resilience during FTX, and why crypto markets reprice instantly.41:25 – DeFi Is Still Early$900T of global assets vs. $7.5B tokenized today; institutions, KYC pools, and privacy.49:39 – Stablecoins & The New PetrodollarTether’s U.S. Treasuries role, dollar network effects, and the geopolitics of stablecoins.#DeFi #Crypto #OnChain #DefiReport #Stablecoins #Web3 #CryptoMarkets #NewBarbariansPodcast

In this episode of The New Barbarians Podcast, Mark Connors and Bill Mann sit down with Loren Asmus, Head of Capital Formation at UTXO Management, to break down how institutional investors and corporate treasuries are accelerating Bitcoin adoption.From Bitcoin’s 13-year record as the best-performing asset, to the rise of Bitcoin Treasury companies like MicroStrategy and MetaPlanet, Loren explains why large pools of capital are now a critical driver of BTC’s next phase — and how UTXO is positioning to capture that growth.We also explore:Why Bitcoin beats gold as a store of value in the 21st centuryThe macro backdrop: USD weakness, Fed policy & market leadershipSpot BTC vs. ETFs — control vs. convenienceGlobal proof of concept & Japan’s unique market dynamicsRisks like premium-to-NAV compression in bear marketsThe “signal” that draws investors into Bitcoin from all corners of the market🎙 Episode highlights include the BTC Inc. growth story, global conference strategy, and why corporate balance sheets could be the “valve” that takes Bitcoin from $100K to millions.Timestamps:00:00 – Intro & Podcast Mission02:05 – Bitcoin’s Track Record vs. Other Asset Classes05:15 – From Institutional Consulting to UTXO Management08:40 – BTC Inc., Bitcoin Magazine & Global Conferences14:10 – The “Signal” That Draws People to Bitcoin17:35 – Spot Bitcoin vs. ETFs — Control vs. Convenience21:55 – Bitcoin vs. Gold: The Digital Store of Value Case26:42 – The Corporate Bitcoin Playbook32:08 – Risks & Premium-to-NAV Compression36:55 – Global Proof of Concept & Japan’s Unique Market42:18 – Macro Backdrop & Market Leadership47:30 – The Next Phase: Large Pools of Capital & Corporate Adoption#Bitcoin #BTC #InstitutionalInvesting #BitcoinTreasury #DigitalAssets #Macro #CryptoInvesting #FinancePodcast

"This is a $600 billion market that no one pays attention to."In Episode 31 of The New Barbarians Podcast, Bill Mann and Mark Connors are joined by Jonathan Small, founder and CEO of The Tradesmen Collective, and Ed McManus, Director of Investor Relations. Together, they explore how this mission-driven startup is revolutionizing the $500+ billion construction and home renovation industry.From years of getting stiffed as a master electrician, Jonathan built a platform to eliminate theft, payment delays, and broken trust in the trades. The solution? Transparent milestone-based contracts, integrated escrow services, and a network that protects both contractors and homeowners — all with a blue-collar ethos and white-collar execution.Bill and Mark also dive into macro updates — from Bitcoin and Nvidia leading global returns to the U.S. debt explosion and inflationary fallout. Along the way, they explore how The Tradesmen Collective could evolve into a Web3-native smart contract ecosystem, combining the ethos of blockchain with real-world utility.Whether you're a hedge fund manager, startup founder, or homeowner tired of being burned, this episode is a blueprint for disruption — in steel-toe boots.Tradesmens Collective Website: https://www.thetradesmens.com/Iphone App: https://apps.apple.com/us/app/the-tradesmens-collective/id6739975427Android: https://play.google.com/store/apps/details?id=com.tradesmensRelibuildWebsite: https://www.relibuild.com/Iphone App: https://apps.apple.com/us/app/relibuild/id6737809386Android: https://play.google.com/store/apps/details?id=app.relibuildv4.comChapters00:00 Introduction to the New Barbarians Podcast02:09 Market Insights and Economic Trends11:35 The Tradesman's Collective: Revolutionizing the Construction Industry22:26 Challenges in the Construction Sector34:33 Raising Capital and Pitching to Investors51:36 Future Plans and Industry Impact#NewBarbariansPodcast #TradesmenCollective #ConstructionTech #BlueCollarInnovation #FintechForContractors #SmartContracts #EscrowSolutions #HomeRenovationFraud #Bitcoin #Nvidia #MacroTrends #GoldVsDollar #AIandFinance #StartupJourney #DisruptiveTech #LaborEconomics #BlockchainForTrades #VCFunding #WorkBootsAndWeb3 #FairfieldStartups #RealWorldUseCases

What happens when a meme stock short squeeze meets a 3-million-paper research archive? In Episode 30 of The New Barbarians Podcast, Bill Mann and Mark Connors sit down with Michael Magoulias, Commercial Director at SSRN (Social Science Research Network), to explore how early-stage academic research is shaping markets, technology, regulation—and your portfolio.From short interest factors and retail-driven squeezes to AI-curated research workflows and the philosophy of Plato, this episode traverses the evolving relationship between ideas, capital, and power. Michael reveals why SSRN is a leading indicator for innovation, and how ideas—when identified early—can become alpha-generating strategies long before they hit peer-reviewed journals.The conversation dives deep into:- The shrinking alpha window after publication (McLean & Pontiff’s “Does Academic Research Destroy Stock Return Predictability?”)- Meme stocks, short squeezes, and Reddit as a market force- SSRN as a “research data” source for investors- Societal impact, metadata, and how research is influencing regulators, journalists, and CEOs- C.S. Lewis, Plato, and what it means to chase “ideal forms” in investingWhether you're a hedge fund quant, academic, journalist, or just someone looking to peer behind the curtain of financial innovation—this episode is a must-listen.🔗 Follow Our Work:📜 Substack: New Barbarians Podcast - https://substack.com/@newbarbarians 📜 Substack: Mark R. Connors - https://substack.com/@markrconnors📜 Harmonic Insights (Bill Mann & Chris Rosa) - https://www.harmoniqinsights.com/📜 SSRN Pracitioner Quant Research - https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=2035436📜 SmartKarma - Bill Mann -- https://www.smartkarma.com/profiles/william-mann-88ce6ae0-716e-4511-98ee-65b1af2765ff/researchTwitter - thenewbarbarianspodcast (@thenewbarbpod) / XChapters00:00 Character Development in Acting01:10 Introduction to SSRN and Academic Insights02:51 Market Trends and Short Interest Factors07:29 The Role of Data in Financial Markets14:34 The Impact of Legislation on Market Dynamics18:09 The Evolution of Academic Publishing24:54 The Value of Ideas vs. Data30:21 Exploring the Influence of Literature on Investment32:35 The Role of Research in Academic and Corporate Spheres35:40 Metrics and Impact of Research Publications39:05 Understanding Societal Impact in Research42:28 Bridging the Gap Between Academia and Practice45:46 The Evolution of Ideas and Financial Exploration49:15 Challenges in Modern Research Publishing#NewBarbariansPodcast #SSRN #MichaelMagoulias #AcademicAlpha #QuantResearch #ShortInterest #MemeStocks #FactorInvesting #LeadingIndicator #OpenAccess #FinancialResearch #SocietalImpact #AIinFinance #CognitiveAlpha #IdeasThatMatter #AcademicPublishing #Plato #CSLewis #DigitalAssets #QuantitativeFinance #EarlyStageResearch #BillMann #MarkConnors #FinancePhilosophy

AI & Bitcoin continue to dominate the investment landscape. In Episode 29, Bill Mann and Mark Connors go it alone for a mid‑year gut‑check on markets and macro. The hosts unpack the past few weeks’ volatility – from why Ethereum was the only major asset to break into the 95th percentile for returns to how “risk‑on” sentiment has left value stocks lagging. They dig into the dashboards built by their intern team to tease out why scarcity assets like gold and Bitcoin are leading global equities, explore the intersection of growth and quality factors with the AI/crypto boom, and reflect on seven months of podcasting.The conversation then moves to the macro world: Mark explains MicroStrategy’s transformation into a Bitcoin treasury and how it now rivals NVIDIA for performance, before dissecting America’s debt ceiling farce, the resumption of heavy Treasury issuance and the looming prospect of a rate‑cutting volatility event. They explore new stablecoin legislation nicknamed the “Genius Act,” argue that regulated dollar‑backed coins could unleash trillions of dollars of demand for U.S. T‑bills, and debate how young investors should approach custody and risk in digital assets. A listener Q&A on macro risk and some lighthearted pop‑culture references round out this lively, data‑rich check‑in. 🔗 Follow Our Work:📜 Substack: Mark R. Connors - https://substack.com/@markrconnors📜 Harmonic Insights (Bill Mann & Chris Rosa) - https://www.harmoniqinsights.com/📜 SSRN Pracitioner Quant Research - https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=2035436📜 SmartKarma - Bill Mann -- https://www.smartkarma.com/profiles/william-mann-88ce6ae0-716e-4511-98ee-65b1af2765ff/researchTwitter - thenewbarbarianspodcast (@thenewbarbpod) / X00:00 Podcast Reflection and Overview03:04 Market Trends and Economic Insights05:36 The Role of Data and Technology in Trading08:40 Global Equity Performance and Monetary Policy11:00 AI, Digital Assets, and the Magnificent 713:20 Quality vs. Growth in Investment15:52 MicroStrategy's Unique Capital Strategy21:01 Understanding Bitcoin's Market Dynamics25:24 The Evolution of Investment Strategies29:01 Understanding the Debt Ceiling Dynamics33:30 The Role of Stablecoins in Modern Finance35:42 Investment Insights for the Next Generation41:12 Macro Economic Trends and Predictions#Macro #Bitcoin #Ethereum #MicroStrategy #Stablecoins #DigitalAssets #AI #USDebt #Investing

In this episode, we sit down with Jennifer Murphy, veteran investor and CIO of Runa Digital Assets, to explore why today’s AI and crypto revolutions aren’t sudden — they’re the culmination of decades of technological evolution.With over 30 years in the investment world, from working alongside Bill Miller at Legg Mason to leading at Franklin Templeton and now pioneering in digital assets, Jennifer brings a rare long-view perspective. She walks us through how the Information Age is reaching its end, how AI and crypto are shaping the next cycle, and why volatility, decentralization, and information asymmetry present enormous opportunities — not just challenges.Where to Find Jennifer- RunaDigitalAssets.com- LinkedIn: https://www.linkedin.com/in/jennifer-murphy-4810a6b/- X/Twitter: @JenniferWMurph2- Website: https://www.runadigitalassets.com/Chapters00:00 - Intro & Context SettingIntroducing Runa Digital Assets and the big-picture links between AI, crypto, and macro forces.01:17 - Scorecards & Market RotationBitcoin leads over 5 years; Mark explores sector shifts and treasury Bitcoin plays.05:10 - Bitcoin Volatility: Feature or Flaw? Jennifer sees Bitcoin's volatility as upside, not risk—and institutions are catching on.08:10 - TradFi to Digital: Valuation Re-thinksBill recounts shifting from risk-averse quant to Bitcoin believer after seeing the data.12:35 - Network Effects & Altcoin RealismJennifer discusses how ETH and BTC treasury firms are leading this cycle—not altcoins.14:59 - Sector Strategy in Digital AssetsRuna’s framework for investing across six crypto sectors, from DeFi to entertainment.16:54 - Coinbase, Miners & the Equitization of CryptoRuna adds crypto-exposed equities to its mix, riding structural shifts in the space.25:11 - Raising Capital in CryptoNo "crypto bucket" yet: Jennifer compares the challenge to early small-cap investing.29:54 - Jennifer’s Origin Story & Bill Miller’s InfluenceHow a formative experience with Bill Miller shaped her lens on long-term investing.37:23 - Enter Carlotta Perez: A New Tech AgeJennifer explains why AI and crypto signal the next 50-year tech cycle.46:01 - Research Habits & Managing NoiseDaily rituals, dashboards, and "free-range time" keep the Runa team grounded and creative.51:16 - Info Asymmetry, Twitter & Finding AlphaCrypto markets still offer info edge—if you know where (and how) to look.54:35 - Understanding Bitcoin: Books & Custody AdviceBook recs, custody tools, and the golden rule: know why you own it.1:00:18 - Institutional Clients & Long-Term ConvictionRuna's LPs rarely panic—they read the research and play the long game.1:04:20 - Where to Find JenniferReach Jennifer via RunaDigitalAssets.com, LinkedIn, and her quiet presence on X.Website: https://www.runadigitalassets.com/X" @JenniferWMurph2LinkedIn: https://www.linkedin.com/in/jennifer-murphy-4810a6b/#JenniferMurphy #DigitalAssets #CryptoInvesting #Bitcoin #Ethereum #AIRevolution #CarlotaPerez #Fintech #RunaDigitalAssets #NetworkEffect #MacroTrends #Web3#InvestingWisdom #LongTermThinking #ValueInvesting

In Episode 27 of The New Barbarians Podcast, hosts Bill Mann and Mark Connors welcome Chris Maher, founder of Samaritan Partners, a venture capital fund focused on impact investing in disability innovation.Chris shares how his journey as a parent, tech CEO, and former D1 coach led to launching a fund that bridges purpose and profit — backing startups that empower the disability community with scalable, meaningful solutions. From AI-powered accessibility tools to inclusive travel platforms, this conversation explores how venture capital can create real-world change while still aiming for strong returns.You’ll also hear macro insights on global markets, central bank shifts, and how digital assets and AI are reshaping the financial landscape.🔗 Follow Our Work:📜 Substack: Mark R. Connors - https://substack.com/@markrconnors📜 Harmonic Insights (Bill Mann & Chris Rosa) - https://www.harmoniqinsights.com/📜 SSRN for research papers - https://papers.ssrn.com/sol3/cf_dev/A...📜 SmartKarma - Chris Rosa -- https://www.smartkarma.com/profiles/c...📜 SmartKarma - Bill Mann -- https://www.smartkarma.com/profiles/w...Twitter - The New Barbarians - https://x.com/thenewbarbpodTwitter - Mark Connors -- https://x.com/riskdimensions⏱️ Chapters:00:00 - Intro to The New Barbarians Podcast on Disruptive Finance01:10 - Meet Chris Maher: VC Investor, Disability Advocate, and Coach02:45 - Market Trends: AI Stocks, Central Bank Moves & Global Uncertainty06:45 - Bitcoin, Gold & German Equities: Q2 2025 Asset Class Review09:40 - Why Chris Launched Samaritan Partners: VC for Disability Innovation13:30 - Disability Economy Explained: 1.5 Billion People & Untapped Potential17:00 - Can Impact Venture Capital Deliver Market Returns?21:00 - For-Profit vs Nonprofit: Building Scalable Social Impact Businesses25:45 - From D1 Basketball Coach to CEO: Leadership Lessons from the Court30:15 - Career Reinvention: Finding Purpose, Fulfillment & Startup Inspiration36:45 - Mentorship & Mental Resilience for Founders & Entrepreneurs42:30 - Disability Tech Startups: Be My Eyes, Wheel the World & Inclusive AI56:00 - How to Connect with Chris Maher & Learn More About Samaritan Partners🔗 Links & Resources:💼 Samaritan Partners – https://samaritanpartners.com🎧 Investing in Accessibility Podcast – https://www.investinginaccessibility....🔗 Connect with Chris Maher on LinkedIn –   / chrismaher1  #ImpactInvesting #DisabilityInnovation #PurposeDrivenVC #AccessibleTech

What happens when human intuition meets data-driven precision? In this deep-dive short from The New Barbarians Podcast, Mark Connors breaks down the seismic shift toward systematic global macro investing. From yield curve twists to easing trade tensions, from ARIMA and GARCH models to machine learning and relative value trades, this episode explores how investors are using rules-based systems to navigate today's complex markets. Learn how macro regimes, sector sensitivities, AI, and econometrics converge to generate alpha — and why discretion still matters in the age of automation.Link to the Paper: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5279491Link to Freely-Available Python Model:https://colab.research.google.com/drive/16bh8mX5KRHKCL-dXIOlSDmZsDIJQ9R3c#SystematicMacro #GlobalMacro #QuantInvesting #DiscretionaryVsSystematic #Macroeconomics #QuantitativeFinance #MachineLearning #YieldCurve #FactorInvesting #PortfolioConstruction #NewBarbariansPodcast #MarkConnors #DataDrivenInvesting #BehavioralFinance #AIinFinance #AlphaGeneration #RegimeAnalysis #RiskManagement #EconometricModels #DeepLearningInMacro

In Episode 26 of the New Barbarians Podcast, Bill Mann and Mark Connors sit down with Christina Qi, co-founder and CEO of Databento, for an unfiltered conversation about her journey from high-frequency trading to building one of the fastest-growing market data vendors in the industry.They cover:- Why she shut down her hedge fund at the peak of her success- The real-world pain of working with legacy data providers- What it takes to build a scalable, transparent data business- Insights into cloud vs. colo, the SEC market data overhaul, and customer-led product roadmaps- What makes quants terrible at sales (and sales terrible at selling to quants)- And how attention to detail and technical support—not hype—built a $1M+ ARR business in under 30 days.If you've ever tried to build or run a quant shop, this one's for you.🔗 Follow Our Work:📜 Substack: Mark R. Connors - https://substack.com/@markrconnors📜 Harmonic Insights (Bill Mann & Chris Rosa) - https://www.harmoniqinsights.com/📜 SSRN for research papers - https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=2035436📜 SmartKarma - Chris Rosa -- https://www.smartkarma.com/profiles/christopher-rosa/research📜 SmartKarma - Bill Mann -- https://www.smartkarma.com/profiles/william-mann-88ce6ae0-716e-4511-98ee-65b1af2765ff/researchTwitter - The New Barbarians - https://x.com/thenewbarbpodTwitter - Mark Connors -- https://x.com/riskdimensionsChapters00:00 Introduction and Technical Difficulties00:57 Market Overview and Economic Insights03:19 Quality and Risk in Investments05:30 Central Banking and Economic Policy07:57 The Impact of Global Events on Markets10:15 Transitioning from Hedge Fund to Data Business12:26 Christina Qi's Journey and Company Formation15:05 Challenges and Lessons from the Hedge Fund Experience17:28 Building a Scalable Data Business20:33 The Importance of Transparency in Business23:23 Conclusion and Future Outlook26:08 The Data Wrangling Dilemma27:58 Understanding Data Licensing Costs30:34 Streamlining the Licensing Process32:46 The Unique Challenges of Data Startups35:28 Navigating Venture Capital Expectations37:31 Building a Quality Product for Quants42:26 Hiring for Meticulousness and Detail46:05 The Journey of a Second-Time Founder49:35 Customer-Driven Roadmap Development53:31 Understanding the Customer Base56:44 Maintaining Scalability and Capacity01:00:11 Defending Intellectual Property#NewBarbariansPodcast #ChristinaQi #Databento #MarketData #HighFrequencyTrading #QuantFinance #StartupJourney #Fintech #HedgeFunds #FinancialData #Infrastructure #DataEngineering #QuantResearch #AIinFinance #AlternativeData #CapitalMarkets #ScalableStartups #WomenInFinance

In Episode 22 of The New Barbarians Podcast, Bill and Mark are joined by David Forino, CTO and Co-Founder of Quanted, to explore how systematic investors can finally scale dataset onboarding and feature discovery without months of engineering time.They cover:• The rise of explainable machine learning over deep neural nets• The 3000→30 line code compression in quant infrastructure• Why Circle’s IPO and stablecoin legislation may reshape global macro• Real-world alpha bottlenecks in top quant funds• Cultural insights from Elba to Budapest• Can crypto ever become a global travel currency?And much more, including war stories from AI startups, VW’s robotics lab, and the Colosseum fight scene with Chuck Norris and Bruce Lee.🔗 Follow Our Work:📜 Substack: Mark R. Connors - https://substack.com/@markrconnors📜 Harmonic Insights (Bill Mann & Chris Rosa) - https://www.harmoniqinsights.com/📜 SSRN Pracitioner Quant Research - https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=2035436📜 SmartKarma - Bill Mann -- https://www.smartkarma.com/profiles/william-mann-88ce6ae0-716e-4511-98ee-65b1af2765ff/researchTwitter - thenewbarbarianspodcast (@thenewbarbpod) / XChapters00:00 Introduction to the New Barbarians Podcast02:16 Market Dynamics and Global Perspectives07:19 Digital Assets and the Future of Finance11:00 David Forino's Journey into Quant Finance15:43 Understanding Quanta and Its Value Proposition21:18 User Feedback and Data Management Challenges28:00 Exploring Machine Learning and AI in Finance29:45 The Data Explosion and Its Implications32:40 Advancements in Robotics and AI34:30 Traditional vs. Deep Learning in Quant Finance38:39 The Challenge of Explainability in AI Models42:14 The Future of Crypto as a Universal Currency52:09 Closing Thoughts and Future Directions#quantfinance #AIinFinance #AlternativeData #MachineLearning #ExplainableAI #CryptoMacro #Stablecoins #SystematicInvesting #DataOps #Fintech #DigitalAssets #Bitcoin #NewBarbariansPodcast #Quanted #HarmoniQInsights

In Episode 24 of The New Barbarians Podcast, Bill Mann and Mark Connors sit down with Ihsan Saracgil, Chief Product Officer at OpenBB, for a deep dive into the future of quant research and AI-native finance.We explore how OpenBB is dismantling legacy market data systems and giving investors cutting-edge tools—customizable dashboards, AI copilots, multi-agent frameworks, and a glimpse into real-time LLM interaction with Fed documents. Ihsan showcases live demos including FOMC parsing, factor attribution with Fama-French models, and CPI analysis powered by Snowflake—without ever leaving the OpenBB environment.If you're in tradfi, crypto, quant, or just tired of emailing PowerPoint decks like it’s 2005, this one is essential listening.🔗 Follow Our Work:📜 Substack: Mark R. Connors - https://substack.com/@markrconnors📜 Harmonic Insights (Bill Mann & Chris Rosa) - https://www.harmoniqinsights.com/📜 SSRN Pracitioner Quant Research - https://papers.ssrn.com/sol3/cf_dev/A...📜 SmartKarma - Bill Mann -- https://www.smartkarma.com/profiles/w...Twitter - thenewbarbarianspodcast (@thenewbarbpod) / XChapters00:00 Introduction and Name Pronunciation00:46 Overview of OpenBB and Its Evolution02:10 The Role of AI in Financial Data Analysis04:59 Understanding FOMC and Market Expectations07:38 The Importance of Data Ownership and Control10:45 Challenges in Traditional Financial Systems13:12 OpenBB's Unique Selling Proposition15:48 Integrating Diverse Data Sources18:26 Demonstrating OpenBB's Capabilities21:33 Using AI for Document Analysis24:20 Custom Agents and Their Applications27:33 Future of AI in Financial Analysis30:44 Conclusion and Future Directions39:43 Comparing AI Models: Commercial vs Open Source40:49 The Acceleration of Data Understanding42:21 Utilizing AI for Economic Projections42:49 The Dot Plot and Market Speculation43:59 The Co-Pilot Widget: Enhancing Data Interaction45:24 Human in the Loop: AI Interaction Philosophy47:47 AI Agents and Data Access49:17 Navigating Economic Data with AI53:32 Seamless Integration with Snowflake54:34 Visualizing Economic Data for Insights57:57 Global Economic Dynamics and Inflation59:38 Fama French Dashboard for Portfolio Analytics01:05:23 Customizing AI for Portfolio Management01:11:34 OpenBB Platform: Installation and Usage#NewBarbariansPodcast #OpenBB #QuantFinance #AIInFinance #FOMC #FedWatch #FinancialData #LLM #Snowflake #BloombergAlternative #PythonFinance #FactorInvesting #FintechInnovation #CPOInterview #MarketDataRevolution #DigitalAssets #MacroTrading #PortfolioAnalytics

Join us for a very special LIVE episode of the New Barbarians Podcast with one of the true pioneers of modern investing — Herb Blank.Herb has been innovating in finance for over three decades — from launching the first managed ETFs to driving early Smart Beta and ESG models.We cover:✅ The history and future of quantitative investing✅ The origin of factor-based models and strategy indexes✅ Governance as the most predictive ESG factor✅ The evolution of ETFs and lessons from the 2008 crisis✅ AI’s role in risk management vs alpha generation✅ Bitcoin and blockchain through a quant’s lensPacked with market wisdom, personal stories, and a healthy dose of humor (station wagons, Clark Griswold, and more), this is a can't-miss conversation for anyone in TradFi, digital assets, or quant investing.🎧 Tune in and subscribe to hear what’s next at the cutting edge of investing.🔗 Follow Our Work:📜 Substack: Mark R. Connors - https://substack.com/@markrconnors📜 Harmonic Insights (Bill Mann & Chris Rosa) - https://www.harmoniqinsights.com/📜 SSRN for research papers - https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=2035436📜 SmartKarma - Bill Mann -- https://www.smartkarma.com/profiles/william-mann-88ce6ae0-716e-4511-98ee-65b1af2765ff/researchTwitter / X: @thenewbarbpodChapters00:46 Guest Introduction: Herb Blank02:05 Factor Investing and Market Scorecard06:12 Origins of the First Managed ETFs09:51 Arbitrage Pricing Theory and Early Quant Investing26:23 Factor Cycles and The Factor Zoo31:08 Counterparty Risk and Banking System Evolution34:51 ESG Investing: Real vs Greenwashing44:13 Quant Investing Goes Mainstream54:19 AI and Risk Management in Investing56:23 The Future of Money and Digital Dollars58:00 AI and Healthcare Innovation1:00:13 Bitcoin and Blockchain Security1:05:55 Lessons from Early ETF Launches1:09:14 Where to Follow Herb Blank’s Work#QuantInvesting #ETFHistory #SmartBeta #ESGInvesting #AIInFinance #RiskManagement #DigitalAssets #BitcoinInvesting #FactorInvesting #ArbitragePricingTheory #Quants #FinancialInnovation #AIandMarkets #HerbBlank #NewBarbariansPodcast

In this episode, Bill Mann and Mark Connors welcome Ben Golub, Head of Derivatives Trading at Secure Digital Markets (SDM), to explore the cutting edge of crypto derivatives, OTC trading, and institutional adoption of digital assets.We dive into:✅ The collapse of TradFi margins and the migration to crypto rails✅ How Bitcoin and AI are becoming base-layer financial infrastructure✅ The rise of crypto derivatives: structured products, accumulators, NDFs, and more✅ Why miners, family offices, and funds are turning to OTC desks✅ Risk management lessons from Celsius and how SDM avoids rehypothecation✅ Systematic strategies, short exposure, and building factor models in crypto✅ What the Coinbase–Deribit deal signals about the next evolution in marketsBen brings a rare blend of quant discipline, real-world trading scars, and startup hustle. Whether you're from TradFi looking to replicate your equity strategies or crypto-native and exploring structured alpha—this episode has something for you.🔗 Guest Contact:Ben Golub – [email protected]🔗 Firm: https://sdm.co📅 LIVE on June 4th at 9AM🎥 Streaming on YouTube 🔗 Follow Our Work:📜 Substack: Mark R. Connors - https://substack.com/@markrconnors📜 Harmonic Insights (Bill Mann & Chris Rosa) - https://www.harmoniqinsights.com/📜 SSRN for research papers - https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=2035436📜 SmartKarma - Chris Rosa -- https://www.smartkarma.com/profiles/christopher-rosa/research📜 SmartKarma - Bill Mann -- https://www.smartkarma.com/profiles/william-mann-88ce6ae0-716e-4511-98ee-65b1af2765ff/research📜 Twitter - @TheNewBarbpodChapters00:00 Introduction to the Digital Asset Ecosystem09:58 New Chapter10:07 Ben Golub's Journey in Trading14:49 The Role of SDM in the Crypto Market19:26 Client Types and Their Needs23:35 Market Trends and Future Outlook24:41 Understanding Client Needs in Crypto Trading26:53 Strategies for Accumulating Crypto Assets31:57 Algorithmic Trading in the Crypto Market35:46 Derivatives and Customization in Crypto Trading38:05 Resources for Newcomers to Crypto Trading43:37 Incorporating Systematic Strategies in Crypto Trading#CryptoDerivatives #BitcoinETF #OTCTrading #DigitalAssets #SystematicInvesting #CryptoOptions #InstitutionalCrypto #NewBarbariansPodcast #BenGolub #SecureDigitalMarkets #CryptoVolatility #AIandBitcoin #TradFiToDeFi #CryptoStructuredProducts

🎧 Guests:Lisa Huff (Eberly Energy Ventures)Dan Morrison (Amalgamated Sludge)In Episode 21 of The New Barbarians Podcast, we head to Houston after a powerful event featuring Dr. Adam Back to unpack the energy-tech collision shaping global infrastructure. Lisa Huff (Eberly Energy Ventures) and Dan Morrison (Amalgamated Sludge) join us to break down why energy sovereignty matters—from stranded gas assets to off-grid mining, from powering AI to defending national security.Topics include:– The economics of flared gas and Bitcoin mining– Why AI’s power demand will surpass Bitcoin’s– Power grid volatility, load balancing, and “Mullet Mining”– Strategic infrastructure in a multipolar world– Why Texas energy producers could outmaneuver Wall StreetFrom deepwater rigs to digital rails, we explore how energy, AI, and Bitcoin are converging to define the next financial and industrial era.🔗 Follow Our Work:📜 Substack: Mark R. Connors - https://substack.com/@markrconnors📜 Harmonic Insights (Bill Mann & Chris Rosa) - https://www.harmoniqinsights.com/📜 SSRN for research papers - https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=2035436📜 SmartKarma - Chris Rosa -- https://www.smartkarma.com/profiles/christopher-rosa/research📜 SmartKarma - Bill Mann -- https://www.smartkarma.com/profiles/william-mann-88ce6ae0-716e-4511-98ee-65b1af2765ff/researchTwitter - The New BarbpodChapters00:00 - Introduction to the New Barbarians Podcast01:41 - Market Insights: Bitcoin, Energy, and AI05:40 - The Intersection of Bitcoin and Energy10:44 - Mining Operations and Economic Viability18:24 - Utilizing Disadvantaged Assets in Energy24:59 - The Role of Energy Companies in Bitcoin30:02 - Bitcoin as a Strategic Asset for National Security35:31 - AI and Bitcoin: The Future of Energy Consumption41:53 - The NIMBY Effect and Energy Consumption44:05 - AI vs Bitcoin: Energy Efficiency Debate46:05 - Complementary Roles of Bitcoin and AI50:02 - Bitcoin as a Load Balancer for Energy Grids52:46 - Bitcoin's Impact on Rural Energy Access54:12 - Energy Diplomacy and Infrastructure57:39 - The Urgency of Energy Infrastructure01:01:33 - The Perception of Energy Consumption01:04:55 - Bitcoin as a Hedge Against Inflation01:08:23 - The Limitations of Traditional Financial Systems01:11:05 - The Future of Bitcoin in Global Trade01:14:29 - The Global Adoption of Bitcoin01:18:32 - Closing Thoughts on Bitcoin and Energy#TexasPowerPlay #Bitcoin #AIInfrastructure #GridSovereignty #BitcoinMining #EnergySecurity #DigitalWildcatters #OffGridMining #AdamBack #HardestMoney #AIandBitcoin #TheNewBarbariansPodcast

In this episode of The New Barbarians, hosts Bill Mann and Mark Connors dive into the world of quantitative crypto investing, revealing how traditional models and modern AI tools are being re-engineered to capitalize on persistent inefficiencies in digital asset markets.They explore cutting-edge strategies such as arbitrage, pairs trading, sentiment analysis, and volatility forecasting, examining how machine learning is reshaping algorithmic trading. With a focus on real-world execution, the discussion covers both the promise and the pain points of implementing quant models in the high-speed, fragmented crypto universe.If you're a data-driven investor, fintech founder, or curious observer of how behavioral finance meets blockchain, this episode is for you.SSRN Published LinkRead the paper here: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5225612Chapters00:00 - Introduction to the AI Agent Podcast00:24 - Overview of Quantitative Crypto Investing00:45 - The Role of AI and Disruptive Technology01:15 - Future Directions and Research Initiatives01:29 - New Chapter01:37 - The Rise of Systematic Crypto Investing04:49 - Market Inefficiencies and Arbitrage Opportunities07:40 - Factor-Based Investing in Crypto10:32 - Sentiment Analysis and Behavioral Models13:45 - Volatility Forecasting and Machine Learning16:38 - Implementation Challenges and Practical Insights#CryptoInvesting #QuantStrategies #MachineLearning #SentimentAnalysis #VolatilityForecasting #CryptoAlpha #AlgorithmicTrading #FactorInvesting #BehavioralFinance #ArbitrageOpportunities #SystematicInvesting #CryptoMarkets #PairsTrading #NLPinFinance #NewBarbariansPodcast

Can Bitcoin be both a safe haven and a risk-on asset? Why does Warren Buffett praise Apple but doubt gold or crypto? And is Europe becoming a financial museum while the U.S. rewires for AI-led growth? In this explosive episode, Rebellion Research CEO Alex Fleiss joins Bill Mann and Mark Connors for a wide-ranging conversation on market signals, fiscal sustainability, and the role of faith in investing.🎙️ Highlights include:- Europe vs. the U.S.: Innovation and capital flight- MicroStrategy and Bitcoin leverage- Judea Pearl, AI pioneers, and why AGI may never come- The Fordham Quantitative Finance Conference preview🔗 Follow Our Work:📜 Substack: Mark R. Connors - https://substack.com/@markrconnors📜 Harmonic Insights (Bill Mann & Chris Rosa) - https://www.harmoniqinsights.com/📜 SSRN for research papers - https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=2035436📜 SmartKarma - Chris Rosa -- https://www.smartkarma.com/profiles/christopher-rosa/research📜 SmartKarma - Bill Mann -- https://www.smartkarma.com/profiles/william-mann-88ce6ae0-716e-4511-98ee-65b1af2765ff/researchTwitter - @TheNewBarbpod🎫 Sign Up for Quantvision, the Premiere Quant Conference Sponsored by Alex Fleiss here:https://www.rebellionresearch.com/quantvision-2025-fordhams-quantitative-conference📖 Chapters00:00 Market Overview and Current Trends11:11 Bitcoin's Evolving Role in Finance24:24 Introduction to Rebellion Research and AI in Investing32:58 The Future of AI: AGI and Market Implications37:38 The Role of AI in the Future of Work39:57 Bitcoin: Risks and Strategies43:25 AI vs Human Traders: The Future of Investing48:24 Investment Strategies for the Next Generation54:56 The Future of Europe: Challenges and Opportunities01:06:19 Innovation and Education: The Key to Growth01:10:08 Sponsorships and Collaborations in Quant Finance#QuantVision2025 #AlexFleiss #RebellionResearch #QuantFinance #AIinFinance #MachineLearning #FinTech #PortfolioManagement #FinancialInnovation #QuantitativeInvesting #SystematicStrategies #WallStreet #FordhamUniversity #FinTechLeadership #AIAssetManagement #MarketsAndAI #NewBarbariansPodcast #Bitcoin #AIInvesting #MacroFinance #WarrenBuffett #EuropeCrisis #FinancialMarkets #TheNewBarbarians

📄 Episode Description:In this special live edition of The New Barbarians Podcast, we welcome back Connor Farley, CEO of Truvius and former AQR researcher, for a deep dive into systematic crypto investing, tax alpha, and navigating today's macro whipsaws. Bill, Mark, and Connor unpack:- The evolution of factor investing from TradFi to DeFi- Why Bitcoin may be emerging as a "soft haven" in volatile markets- How Truvius is automating tax-loss harvesting to enhance after-tax returns- Connor’s firsthand take on data quality, blockchain sectors, and portfolio construction- What AQR taught him—and how he's adapting it for crypto in 2025- Plus: Chris Rosa bids farewell as he heads to Galaxy Digital, and Mark issues a live market scorecard powered by multi-screen madness and South China headlines.📈 This one blends research chops, war stories, and practical insights for investors straddling both sides of the finance frontier.🔗 Follow Our Work:📜 Substack: Mark R. Connors - https://substack.com/@markrconnors📜 Harmonic Insights (Bill Mann & Chris Rosa) - https://www.harmoniqinsights.com/📜 SSRN for research papers - https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=2035436📜 SmartKarma - Chris Rosa -- https://www.smartkarma.com/profiles/christopher-rosa/research📜 SmartKarma - Bill Mann -- https://www.smartkarma.com/profiles/william-mann-88ce6ae0-716e-4511-98ee-65b1af2765ff/researchTwitter - The New Barbpodhttps://docs.google.com/document/d/1bCC3O8HaP3dmkfUTrGPTfsau667kTTW36ZwGKLQgJyI/edit?usp=sharingChapters00:00 Introduction to the New Barbarians Podcast03:45 Market Overview and Trends07:31 Market Scorecard and Asset Performance14:58 Digital Assets and Risk Management16:30 Introduction to Trivias and Investment Strategies18:16 Alpha Generation in Crypto26:55 Portfolio Construction and Risk Management30:45 Understanding Crypto Sectors and DeFi35:15 Decentralized Finance: The Future of Trading38:44 Data Collection in Crypto: Challenges and Solutions44:52 Automated Tax Loss Harvesting: A Game Changer55:42 Bitcoin as a Safe Haven: Macro Volatility Insights#SystematicInvesting #CryptoPortfolio #TaxLossHarvesting #QuantFinance #DigitalAssets #FactorInvesting #AQRAlumni #Truvius #CryptoStrategy #AlternativeInvestments #RiskManagement#WealthTech #DeFiStrategies #AIinFinance #NewBarbariansPodcast

📖 Episode Description:On Episode 18 of The New Barbarians, Bill Mann and Mark Connors cut through the noise of market volatility, trade wars, and tech disruption to map out the shifting landscape of global finance.They unpack the aftermath of "Liberation Day," analyze the IMF’s surprising growth downgrade, and explain how new forces — from tariffs to Bitcoin — are reshaping investment strategy.The conversation also dives deep into AI's race to zero-cost intelligence, China's countermeasures, the real risks and rewards in digital assets, and why the old Bretton Woods playbook no longer applies.Bill shares insights from his recent crypto conference experience and reveals a newly published Bitcoin prediction model — a glimpse into how technology is rewriting investment frontiers.Get ready: The new economic era has arrived, and it's not waiting for anyone.📝 Key Takeaways:- Liberation Day impact: Why April 2nd marks a turning point for global markets and monetary policy.- Debt, Growth, and Stability: Insights from Scott Besson’s seismic speech on America's fiscal future.- Bitcoin vs. Nasdaq: Why Bitcoin’s behavior defies old correlation models — and what that means for your portfolio.- AI Revolution: How DeepSeek’s cheaper, more powerful AI models signal a race to near-free intelligence.- Crypto as Liquid Venture Capital: Why investing in digital assets today mirrors the early days of hedge funds and VC.- New Playbook Required: Why traditional investment frameworks no longer fit a world undergoing economic "reset."🔗 Follow Our Work:📜 Substack: Mark R. Connors - https://substack.com/@markrconnors📜 Harmonic Insights (Bill Mann & Chris Rosa) - https://www.harmoniqinsights.com/📜 SSRN for research papers - https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=2035436📜 SmartKarma - Chris Rosa -- https://www.smartkarma.com/profiles/christopher-rosa/research📜 SmartKarma - Bill Mann -- https://www.smartkarma.com/profiles/william-mann-88ce6ae0-716e-4511-98ee-65b1af2765ff/researchTwitter - The New Barbpodhttps://docs.google.com/document/d/1bCC3O8HaP3dmkfUTrGPTfsau667kTTW36ZwGKLQgJyI/edit?usp=sharingChapters00:00 Market Overview and Economic Indicators03:51 AI Developments and Their Impact06:45 Consumer Confidence and Bond Market Dynamics10:02 Market Scorecard and Asset Performance12:43 Trade Policies and Currency Fluctuations15:57 Digital Assets and Cryptocurrency Trends20:53 Investing in Digital Assets: Risks and Opportunities29:43 Understanding the Crypto Ecosystem32:26 The Evolution of Investment Strategies in Crypto35:23 Regulatory Changes and Market Dynamics39:59 Economic Growth and Fiscal Policy Insights47:18 Innovations in Quantitative Crypto Investing#TheNewBarbarians #BitcoinDominance #EconomicReset #LiberationDay #CryptoInvesting #AIRevolution #DigitalAssets #TradFi #BrettonWoods2 #MarketInsights #FinancialPodcast #GlobalEconomy #CryptoMacro #InvestmentStrategy #NewEraFinance

In this episode of The New Barbarians, Bill Mann and Mark Connors dive deep into a volatile week across global markets. With Jerome Powell warning of stagflation and Trump ramping up tariff threats (and calling for Powell's removal), the macro landscape is shifting fast—and not necessarily for the better.We break down the data behind the market selloff, explore the impact of “Liberation Day” on GDP forecasts, and examine why foreign equities, Bitcoin, and gold are outperforming while the U.S. dollar and major indices stumble. Mark unveils his latest scorecard on asset flows, yield curves, and credit spreads, while Bill shares insights from the Wolf Research report and gives a preview of the AIMA Digital Asset Conference.Plus: Are high-yield bonds flashing a credit warning? Is Bitcoin really becoming a digital safe haven? And why are systematic crypto strategies falling short—at least for now?If you’re looking for context behind the chaos and clarity on what it means for both TradFi and digital assets, this one’s for you.Takeaways- The market is currently experiencing volatility with significant fluctuations in asset prices.- Recession indicators are showing concerning trends, particularly in relation to GDP forecasts.- The impact of tariffs is creating uncertainty in the market, affecting both growth and inflation.- Digital assets are emerging as a significant area of interest for investors looking for new opportunities.- The US dollar's decline is contributing to inflationary pressures in the economy.- Bitcoin is increasingly being viewed as a digital gold, serving as a potential store of value.- Investors are becoming more cautious, demanding higher risk premiums for high yield bonds.- The performance of cryptocurrencies is diverging from traditional equities, with some digital assets showing resilience.- Market sentiment in the crypto space is improving, indicating potential for future growth.- The hosts emphasize the importance of understanding macroeconomic trends in making investment decisions.🔗 Follow Our Work:📜 Substack: Mark R. Connors - https://substack.com/@markrconnors📜 Harmonic Insights (Bill Mann & Chris Rosa) - https://www.harmoniqinsights.com/📜 SSRN for research papers - https://papers.ssrn.com/sol3/cf_dev/A...📜 SmartKarma - Chris Rosa -- https://www.smartkarma.com/profiles/c...📜 SmartKarma - Bill Mann -- https://www.smartkarma.com/profiles/w...Twitter - The New Barbarians - https://x.com/thenewbarbpodTwitter - Mark Connors -- https://x.com/riskdimensions🌐 Podcast available on all major platforms!Chapters00:00 Market Overview and Recent Trends04:51 Asset Performance and Economic Indicators11:22 GDP Projections and Recession Risks14:29 Currency Market Dynamics18:34 Impact of Tariffs on Inflation23:51 Investor Sentiment and Safe Havens27:39 Credit Market Concerns and Historical Context31:33 Preemptive Economic Strategies32:54 Market Interventions and Historical Context33:43 Current Economic Indicators and Trends35:02 High Yield Bonds vs. Investment Grade36:42 Investor Demand and Risk Premiums37:49 Investment Pace and Market Sentiment38:49 Yield Curve Dynamics40:26 Market Expectations and Recession Concerns41:53 Digital Assets and Market Trends43:38 Crypto Market Analysis and Sentiment46:09 Momentum and Performance in Crypto48:05 Future of Crypto as an Asset Class50:14 Research and Systematic Investing in Crypto#TheNewBarbarians #CreditSpreads #MacroAnalysis #RecessionWatch #HighYieldBonds #MarketVolatility #BitcoinVsGold #FedPolicy #DigitalAssets #TradFi

In this episode of The New Barbarians, Bill and Mark dive into the market-shaking fallout from Trump’s latest tariff reversals and escalations. With a 145% tariff on China, retaliatory measures, and a new wave of uncertainty, we unpack the implications of what we’re calling Liberation Day — a moment on par with Nixon’s gold shock in 1971.We discuss:- The breakdown of global trade trust- Why gold and Bitcoin are rallying while oil tanks- Carville’s legendary bond market quote and its modern relevance- The decoupling of the 10-year yield and the DXY- How institutional flows are fleeing to T-bills and safe assets- The coming stagflationary environment and policy cornering of central banks- Why this might just be inning 3 of a long macro resetMark also walks through his macro model buckets (economics, markets, and players), while Bill challenges whether the U.S. or China really wins in this new Cold Trade War.🔗 Follow Our Work:📜 Substack: Mark R. Connors - https://substack.com/@markrconnors📜 Harmonic Insights (Bill Mann & Chris Rosa) - https://www.harmoniqinsights.com/📜 SSRN for research papers - https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=2035436📜 SmartKarma - Chris Rosa -- https://www.smartkarma.com/profiles/christopher-rosa/research📜 SmartKarma - Bill Mann -- https://www.smartkarma.com/profiles/william-mann-88ce6ae0-716e-4511-98ee-65b1af2765ff/researchTwitter - The New Barbarians - https://x.com/thenewbarbpodTwitter - Mark Connors -- https://x.com/riskdimensions🌐 Podcast available on all major platforms!Chapters00:00 Economic Turbulence and Trade Wars06:16 Market Reactions and Economic Indicators11:54 The Bond Market's Influence17:37 Global Economic Dynamics and China27:48 Future Projections and Policy Implications#thenewbarbarians #cryptocurrency #bitcoin #investing #digitalcurrency #crypto #investing #trading

This week on The New Barbarians, Bill Mann and Mark Connors break down the sharpest two-day market decline since 2020 — and why it might be even more historically significant. From Black Monday in 1987 to today’s tariff-induced turmoil, we explore the anatomy of market meltdowns, past and present.We discuss:📉 The “one-man crash” and its unprecedented impact🧠 Why traditional quant models and LLMs missed this move🏛️ How policy, not panic, is now the primary market mover💥 Lessons from 2008, 2020, and the new Fed-dominated regime📊 What today's volatility tells us about the future of investing⚠️ Are hedge funds, risk parity, and passive portfolios still viable?Plus, we show how large language models (LLMs) can both help and hallucinate in volatile markets — and why disciplined research still wins.🔗 Follow Our Work:📜 Substack: Mark R. Connors - https://substack.com/@markrconnors📜 Harmonic Insights (Bill Mann & Chris Rosa) - https://www.harmoniqinsights.com/📜 SSRN for research papers - https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=2035436📜 SmartKarma - Chris Rosa -- https://www.smartkarma.com/profiles/christopher-rosa/research📜 SmartKarma - Bill Mann -- https://www.smartkarma.com/profiles/william-mann-88ce6ae0-716e-4511-98ee-65b1af2765ff/researchTwitter - The New Barbarians - https://x.com/thenewbarbpodTwitter - Mark Connors -- https://x.com/riskdimensions🌐 Podcast available on all major platforms!Chapters00:00 Market Turmoil: A Historical Perspective03:33 The Impact of Tariffs on the Economy06:34 Quantitative Analysis and Market Predictions09:57 The Role of AI in Financial Decision Making13:01 Understanding Market Dynamics and Investor Behavior16:09 The Future of Hedge Funds and Investment Strategies18:13 Navigating Volatility: Strategies for Investors21:21 The Importance of Staying Invested24:19 Final Thoughts on Market Trends and Predictions#thenewbarbarians #cryptocurrency #bitcoin #investing #digitalcurrency #crypto #investing #trading

🔍 Episode Summary:In this jam-packed episode, Bill and Mark break down the storm brewing at the intersection of traditional finance and emerging global trends. With Q1 2025 officially in the books, the markets are reacting to a perfect storm of economic signals—from gold’s historic surge and Bitcoin’s surprising resilience, to Japan’s volatility and the looming impact of Liberation Day tariffs.They unpack why consumer sentiment is at a 12-year low, why the Fed might be cornered into a liquidity pump, and how geopolitical shifts—like Germany lifting its constitutional debt brake—are shaking global market structures.Also covered:📉 Stagflation and drawdown fears⚖️ The real weight of U.S. imports & exports on GDP🛢️ Oil and the shadow of slow growth🧠 How to filter financial noise using AI tools💡 Why Trump’s economic strategy may be “crazy like a fox”📈 Key Takeaways:- Gold is booming: +38% YoY, +17.5% Q1, signaling global risk-off behavior.- Bitcoin outperforms equities in March: Even during a rough month, BTC showed relative strength as a “network-based” asset.- MAG-7 stocks in trouble: Down over 22% since Feb 19, leading the broader market downturn.- Liberation Day is a major inflection point: New tariffs may reset trade relationships and bring volatility—potentially turning imports into domestic opportunity.- U.S. consumption drives the world: A slowdown here is a crisis elsewhere. Imports + exports make up 25% of GDP—don't be fooled by net metrics.- Germany re-arms economically: Removing its debt brake has global implications—especially if NATO funding dynamics shift.Chapters00:00 Q1 2025 Economic Overview26:58 Impact of Tariffs on Global Trade30:37 Understanding GDP Composition34:19 The Role of Consumption in the Economy36:52 Liberation Day: A New Economic Strategy41:22 Risk Management in Economic Gambits44:25 Future Economic Predictions and Insights#thenewbarbarians #cryptocurrency #bitcoin #investing #digitalcurrency #crypto #investing #trading

Join Bill Mann and Mark Connors on Episode 13 of the New Barbarians podcast as they dive into a whirlwind week of market rebounds, policy pivots, and global economic shifts. From the Fed’s tapering slowdown to Trump’s softened tariff stance, the duo unpacks how these moves sparked a risk-on rally—Nasdaq up 2.3%, Russell soaring 2.6%, and the VIX dropping to 17.46. They explore gold’s surge past $3,000, Bitcoin’s volatile dance, and a seismic $1.1 trillion spending bill in Germany that’s rewriting NATO’s cost structure. With insights from their Wall Street days and a keen eye on AI and digital assets, Bill and Mark cut through the noise to reveal what’s driving markets and what’s next for investors. Hit subscribe and join the barbarian horde!Takeaways- Markets rebounded following news of reduced tariffs.- The Fed's quantitative tightening is slowing down, impacting liquidity.- Germany's significant infrastructure spending will raise its debt-to-GDP ratio.- Tariffs are expected to shift costs to consumers, affecting market dynamics.- Recession risks are present, but contagion is not imminent.- Credit markets show signs of volatility, but defaults are not expected to spike.- Investment strategies must adapt to changing economic conditions.- Digital assets are seen as a frontier for future investments.- Gold and Bitcoin are highlighted as potential safe havens.- The conversation underscores the need for a proactive approach to investing.🔗 Follow Our Work:📜 Substack: Mark R. Connors - https://substack.com/@markrconnors📜 Harmonic Insights (Bill Mann & Chris Rosa) - https://www.harmoniqinsights.com/📜 SSRN for research papers - https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=2035436📜 SmartKarma - Chris Rosa -- https://www.smartkarma.com/profiles/christopher-rosa/research📜 SmartKarma - Bill Mann -- https://www.smartkarma.com/profiles/william-mann-88ce6ae0-716e-4511-98ee-65b1af2765ff/researchTwitter- The New Barbarians - https://x.com/thenewbarbpodTwitter - Mark Connors -- https://x.com/riskdimensions🌐 Podcast available on all major platforms!Chapters00:00 Market Overview and Recent Trends03:50 Monetary Policy and Its Impact06:42 Global Economic Dynamics and Tariffs09:44 European Economic Outlook12:50 Inflation and Fiscal Policy in Europe15:41 Recession Risks and Market Reactions18:23 Market Predictions and Future Outlook21:43 Investment Strategies in Current Climate24:43 Conclusion and Key Takeaways31:54 Market Volatility and Portfolio Management34:30 Market Movements and Statistical Analysis39:49 Credit Risk and Default Probabilities45:38 High-Yield Companies and Market Stability49:36 Bitcoin and Digital Asset Adoption#thenewbarbarians #cryptocurrency #bitcoin #investing #digitalcurrency #crypto #investing #trading

On this episode of The New Barbarians, hosts Bill Mann and Mark Connors dive into the latest market turbulence, drawing lessons from the past to make sense of the present. As we mark the 17th anniversary of Bear Stearns' collapse, we explore the broader implications of the 2008 financial crisis and how it shaped today’s economic landscape.From St. Patrick’s Day market moves to the rise of private credit, we analyze the critical factors shaping risk appetite, global liquidity, and central bank behavior. We also break down the impact of tariffs, Federal Reserve policy, and shifting investment flows—discussing what they signal for equities, bonds, gold, and digital assets like Bitcoin and XRP.With volatility rising and global macro risks evolving, we ask the trillion-dollar question: Are we facing a new financial regime shift, or is this just another cyclical market correction?Tune in for a deep dive into history, risk, and what’s next for investors.Takeaways- The 17th anniversary of Bear Stearns' collapse highlights how central banks now play a much larger role in market stability.- Market volatility remains elevated, but credit markets and liquidity indicators suggest no immediate systemic risk.- Tariff concerns are driving investors toward defensive assets like gold, bonds, and European equities.- Private credit markets pose a hidden risk, as lack of transparency and liquidity could amplify future downturns.- The MOVE Index remains a key indicator of credit stress, with no major warning signs yet.- Bitcoin’s recent recovery suggests it continues to act as a risk sentiment indicator.- Fed policy decisions remain the primary driver of market sentiment, with investors closely watching for potential rate cuts.- Liquidity injections from deficit spending are counteracting the Fed’s balance sheet reduction.- Risk appetite remains high, as high-yield spreads near historic lows indicate continued investor confidence.- Investors should monitor bond market movements, private credit developments, and potential shifts in global trade policy.🔗 Follow Our Work:📜 Substack: Mark R. Connors - https://substack.com/@markrconnors📜 Harmonic Insights (Bill Mann & Chris Rosa) - https://www.harmoniqinsights.com/📜 SSRN for research papers - https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=2035436📜 SmartKarma - Chris Rosa -- https://www.smartkarma.com/profiles/christopher-rosa/research📜 SmartKarma - Bill Mann -- https://www.smartkarma.com/profiles/william-mann-88ce6ae0-716e-4511-98ee-65b1af2765ff/researchTwitter - The New Barbarians - https://x.com/thenewbarbpodTwitter - Mark Connors -- https://x.com/riskdimensions🌐 Podcast available on all major platforms!Chapters00:00 Introduction and Historical Context02:38 Market Analysis and Current Trends11:00 Credit Markets and Risk Assessment23:44 Navigating Tariffs and Economic Signals36:36 Private Credit and Market Stability#thenewbarbarians #cryptocurrency #bitcoin #investing #digitalcurrency #crypto #investing #trading

In this episode of The Deep Dive, we explore the rapidly evolving role of large language models (LLMs) in high finance. Our guest, an expert in quantitative finance and AI-powered investment systems, helps us break down how LLMs are reshaping financial markets, from research and analysis to trade execution.Key Takeaways:- The Power of LLMs in Finance: AI models like ChatGPT and BloombergGPT can analyze vast amounts of financial data, spot trends, and even generate complex trading strategies—potentially leveling the playing field for individual investors.- Democratizing Financial Tools: Previously, sophisticated quantitative analysis was only accessible to major hedge funds and institutions. Now, with open-source LLMs and cloud platforms, retail investors can leverage similar tools.- The Multi-Model Approach: No single AI model can do everything. Combining different LLMs, each specializing in specific tasks, creates a more powerful investment toolkit.- AI-Powered Investment Workflow:--Idea Generation: GPT-4 and Claude provide creative insights and alternative perspectives.--Market Research: BloombergGPT and FinBert process financial documents and extract key insights.--Backtesting Strategies: FinGPT evaluates how strategies would have performed historically.--Portfolio Optimization: Llama 2 and FinMech help balance risk and returns.--Trade Execution: Ocarina and Gemini optimize order placement and market timing.-Challenges and Limitations: LLMs can enhance investment decisions but are not foolproof. They depend on data quality and require human oversight to mitigate biases, avoid "hallucinations," and adapt to unpredictable market shifts.-Real-World Applications & Pitfalls: While AI-driven trading systems have seen success, they also come with risks, as demonstrated by technical failures like the infamous “Trump trade” miss due to system crashes.-Ethical & Regulatory Considerations: As AI becomes deeply integrated into financial markets, ensuring transparency, fairness, and accountability is crucial. Biased models or poorly supervised AI-driven strategies could have unintended consequences.Looking Ahead:As LLMs continue to evolve, they could challenge the dominance of human fund managers, making financial markets more efficient but also raising concerns about automation and ethical responsibility. The future of AI in finance is unfolding now, and we all have a role in shaping it.Final Thought: AI won’t replace human investors, but it will redefine how they work. Those who learn to harness these tools effectively will have a significant advantage in navigating the financial landscape.Stay tuned for the next part of The Deep Dive, where we explore real-world case studies of LLM-powered investment systems—their successes, failures, and what they reveal about the future of AI in finance.🔗 Follow Our Work:📜 Substack: Mark R. Connors - https://substack.com/@markrconnors📜 Harmonic Insights (Bill Mann & Chris Rosa) - https://www.harmoniqinsights.com/📜 SSRN for research papers - https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=2035436📜 SmartKarma - Chris Rosa -- https://www.smartkarma.com/profiles/christopher-rosa/research📜 SmartKarma - Bill Mann -- https://www.smartkarma.com/profiles/william-mann-88ce6ae0-716e-4511-98ee-65b1af2765ff/researchTwitter - The New Barbarians - https://x.com/thenewbarbpodTwitter - Mark Connors -- https://x.com/riskdimensions🌐 Podcast available on all major platforms!#thenewbarbarians #cryptocurrency #bitcoin #investing #digitalcurrency #crypto #investing #trading

In this episode of The New Barbarians Podcast, we dive into the latest market turmoil, analyzing the ongoing sell-off and its broader macroeconomic implications. We discuss the impact of delayed tariffs, the Atlanta Fed’s negative GDP nowcast, and whether the U.S. is heading into a recession. With global markets in flux, we examine why European equities are rallying while U.S. stocks sink, the role of gold as a safe haven, and the potential for further deleveraging in the markets.We also break down how quants and hedge funds are navigating this volatile environment, the significance of market breadth, and the crowded long/short trades shaping today’s markets. Plus, we explore the implications of Trump’s trade policies, the Federal Reserve’s next move, and what all of this means for Bitcoin and Stablecoins.Will money printing be the solution once again? Is this just the third inning of a broader market correction? Tune in to hear our insights.Takeaways- Market volatility is influenced by economic indicators and tariffs.- Gold has consistently outperformed the S&P in recent years.- Investment strategies are shifting towards safer assets in Europe.- Quantitative strategies must adapt to turbulent market conditions.- Current market conditions are unique compared to past crises.- Inflationary pressures are affecting economic growth expectations.- The concentration of market returns raises risk management concerns.- Market breadth indicates the health of the overall market.- Nowcasting can provide insights into economic metrics before official releases.- Deleveraging risks in quant funds can exacerbate market downturns.🔗 Follow Our Work:📜 Substack: Mark R. Connors - https://substack.com/@markrconnors📜 Harmonic Insights (Bill Mann & Chris Rosa) - https://www.harmoniqinsights.com/📜 SSRN for research papers - https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=2035436📜 SmartKarma - Chris Rosa -- https://www.smartkarma.com/profiles/christopher-rosa/research📜 SmartKarma - Bill Mann -- https://www.smartkarma.com/profiles/william-mann-88ce6ae0-716e-4511-98ee-65b1af2765ff/researchTwitter - The New Barbarians - https://x.com/thenewbarbpodTwitter - Mark Connors -- https://x.com/riskdimensions🌐 Podcast available on all major platforms!🌐 Podcast available on all major platforms!Chapters00:00 Market Volatility and Economic Indicators03:23 Macro Market Analysis and Sell-Off Trends05:50 Investment Shifts: Gold, Bonds, and European Markets09:32 Quantitative Strategies in Turbulent Times12:26 Unique Market Dynamics: US vs. Europe18:26 Risks of European Investments and Market Concentration25:59 The Impact of Consensus on Market Movements27:24 Nowcasting and Market Sentiment29:50 Deleveraging and Market Dynamics31:11 Macro Events and Market Reactions33:11 Oil Prices and Energy Sector Predictions35:12 Risk Management in Volatile Markets37:03 The Role of Fundamental Analysis40:54 Market Uncertainty and Asymmetry in Trades41:53 Winners and Losers in Current Markets43:12 Digital Assets and Future Predictions#thenewbarbarians #cryptocurrency #bitcoin #investing #digitalcurrency #crypto #investing #trading

On this episode of The New Barbarians, we connect the dots between Hollywood, market discipline, and the latest financial turmoil. We reflect on the legendary Gene Hackman, the lessons from Hoosiers, and how his approach to leadership mirrors the mindset needed in investing.We also break down recent market movements, including the latest crypto sell-offs, Trump's unexpected Truth Social post and its impact on digital assets, and the growing signals of risk in traditional markets. From the Move Index to managed futures, we explore how investors—both fundamental and quant-driven—are responding to volatility.Are we in a full-blown market correction, or is this just another bump in the road? Tune in as we analyze the data, discuss liquidity concerns, and debate what signals matter most for the future.🔹 Topics Covered:- Gene Hackman’s Hoosiers and investing discipline- Trump's crypto announcement and market reaction- Bitcoin, gold, and the search for safe havens- The Move Index, correlation spikes, and risk signals- How quants and traditional investors react to sell-offs🔗 Follow Our Work:📜 Substack: Mark R. Connors - https://substack.com/@markrconnors📜 Harmonic Insights (Bill Mann & Chris Rosa) - https://www.harmoniqinsights.com/📜 SSRN for research papers - https://papers.ssrn.com/sol3/papers.c...📜 SmartKarma - Chris Rosa -- https://www.smartkarma.com/profiles/c...📜 SmartKarma - Bill Mann -- https://www.smartkarma.com/profiles/w...Twitter - The New Barbarians - https://x.com/thenewbarbpodTwitter - Mark Connors -- https://x.com/riskdimensions🌐 Podcast available on all major platforms!00:00 Introduction and Tribute to Gene Hackman03:48 The Integrity of Leadership in Investing07:05 The Impact of Trump's Truth Social on Crypto09:51 Market Analysis: Sell-offs and Investor Behavior12:42 Understanding Market Volatility and Risk14:57 The Role of Treasuries and Bitcoin in Today's Market17:49 Liquidity Risks and Market Complexity21:47 Understanding Quantitative Strategies and Market Volatility29:50 Risk Management in Quantitative Investing32:50 Market Signals and Investor Behavior37:17 The Intersection of Digital and Traditional Assets43:10 Liquidity, ETFs, and Market Dynamics

In this episode of The New Barbarians podcast, Bill Mann and Mark Connors break down the economic landscape after the first 30 days of Trump's presidency. They revisit their earlier investment outlook, balancing the promise of policy shifts against the backdrop of mounting debt and changing demographics.The discussion covers a range of critical macroeconomic themes, including:- The impact of retiring Baby Boomers on GDP growth.- The role of technology in offsetting demographic shifts.- Inflationary pressures and their effect on interest rates and asset allocation.- Gold’s surge and its historical parallels to past financial crises.- The growing challenge of U.S. debt, with over $10 trillion maturing within the next 12 months.- The market’s cautious optimism and shifts in asset performance, including gold, equities, and bonds.- Bitcoin’s rising dominance in the crypto space as a digital safe-haven asset.- The broader implications of policy moves, including potential regulatory rollbacks and the push for a weaker U.S. dollar.- Bill and Mark also provide a quantitative perspective on investment strategies, discussing the statistical significance of market movements, macro sensitivities, and asset allocations in response to economic policy. - They wrap up with insights into the upcoming research focus on bonds, credit markets, and the broader financial landscape.Tune in for an insightful, no-nonsense analysis of the intersection between policy, markets, and macroeconomic forces shaping the investment world.🔗 Follow Our Work:📜 Substack: Mark R. Connors - https://substack.com/@markrconnors📜 Harmonic Insights (Bill Mann & Chris Rosa) - https://www.harmoniqinsights.com/📜 SSRN for research papers - https://papers.ssrn.com/sol3/papers.c...📜 SmartKarma - Chris Rosa -- https://www.smartkarma.com/profiles/c...📜 SmartKarma - Bill Mann -- https://www.smartkarma.com/profiles/w...Twitter - The New Barbarians - https://x.com/thenewbarbpodTwitter - Mark Connors -- https://x.com/riskdimensions🌐 Podcast available on all major platforms!Chapters00:00 Introduction and Context of Trump's Presidency04:02 Demographic Shifts and Economic Implications06:53 Market Reactions and Policy Promises09:51 Debt Dynamics and Economic Growth12:58 Investment Strategies in a Changing Market16:07 Healthcare Spending and Economic Sustainability18:53 Historical Context of Economic Policies21:45 The Impact of Recessions on Economic Growth25:05 Government Spending and Economic Priorities28:03 Market Sentiment and Investment Outlook31:07 Quantitative Analysis and Market Predictions34:15 Future Research Directions and Closing Thoughts#thenewbarbarians #cryptocurrency #bitcoin #investing #digitalcurrency #crypto #investing #trading

In Episode 8 of The New Barbarians Podcast, Bill Mann, Mark Connors, and Chris Rosa welcome Kevin Jiang, CIO of Virgo Digital Asset Management, to discuss what could be the biggest trade of our lifetime—the U.S. Treasury’s challenge of rolling over nearly $10 trillion in debt. They break down how the Fed’s shifting monetary policy, inflation concerns, and sovereign wealth funds accumulating Bitcoin signal a seismic shift in global finance. Kevin explains why Bitcoin is now behaving as a macro asset, closely tied to interest rates and liquidity cycles, and how institutional players are positioning for this new reality.The conversation dives into the evolving role of digital assets, exploring whether the U.S. government could start stockpiling Bitcoin and what that means for markets. They also touch on volatility risk versus permanent capital loss, how investors should think about asset allocation in this environment, and whether "altseason" is on the horizon. With gold demand surging, central banks adjusting policies, and liquidity pressures mounting, this episode unpacks the biggest financial trends shaping 2025 and beyond.Takeaways Digital assets are seen as the new financial frontier. Interest rates significantly influence market behavior. Bitcoin's volatility is unique compared to traditional assets. Investors should differentiate between volatility risk and capital destruction risk. The US government could create a supply shock in Bitcoin through its purchasing strategies. Central banks are increasingly recognizing the importance of digital assets. Understanding market cycles is crucial for Bitcoin investments. The current market environment is risk-on for digital assets. The narrative surrounding Bitcoin remains strong despite market fluctuations. Investment strategies should focus on risk-adjusted returns in digital assets.🔗 Follow Our Work:🔗https://vdam.virgo.co/📜 Substack: Mark R. Connors - https://substack.com/@markrconnors📜 Harmonic Insights (Bill Mann & Chris Rosa) - https://www.harmoniqinsights.com/📜 SSRN for research papers - https://papers.ssrn.com/sol3/papers.c...📜 SmartKarma - Chris Rosa -- https://www.smartkarma.com/profiles/c...📜 SmartKarma - Bill Mann -- https://www.smartkarma.com/profiles/w...Twitter - The New Barbarians - https://x.com/thenewbarbpodTwitter - Mark Connors -- https://x.com/riskdimensions🌐 Podcast available on all major platforms!Chapters00:00 Introduction to Digital Assets and Market Trends13:54 Analyzing Economic Indicators and Their Impact26:51 Investment Strategies in Digital Assets31:47 Risk Management and Client Perspectives33:58 The Genius of Michael Saylor's Strategy36:11 Understanding MicroStrategy's Bitcoin Treasury Model37:38 Exploring Principal Protected Notes40:33 Bitcoin's Unique Volatility and Market Behavior42:24 The Future of Bitcoin: Cycles and Strategic Reserves45:38 Analyzing the Four-Year Cycle in Bitcoin48:15 The Impact of Liquidity on Altcoins53:12 Investment Strategies and Key Takeaways#thenewbarbarians#cryptocurrency#bitcoin#investing#digitalcurrency#crypto#investing#trading

🚀 In this episode of The New Barbarians, we’re joined by Connor Farley, CEO & Co-Founder of Truvius, an SEC-registered investment advisor specializing in systematic digital asset management. Connor shares insights on quant investing in crypto, how Truvius applies institutional-grade strategies to digital assets, and why a systematic approach is key in a rapidly evolving market.🔥 Key Topics Covered:- The macroeconomic landscape & crypto’s role in portfolio diversification- How Truvius is bringing institutional-grade investment strategies to digital assets- The rise of Solana, Ethereum, and how network fees impact valuations- Why quant-driven strategies matter in crypto investing- The future of Bitcoin Layer 2s and digital asset adoption📈Follow Connor & Truvius:🌐 Website: https://truvius.io📩 LinkedIn: Truvius🐦 Twitter: @Truvius_🔔 Subscribe for more in-depth discussions on markets, crypto, and the future of investing!Chapters00:00 Introduction to the New Barbarians Podcast03:25 Market Overview and Economic Insights06:22 Connor Farley's Journey and Truvius10:20 Understanding Truvius Products and Strategies13:18 Comparing Traditional and Crypto Investment Strategies21:38 Key Performance Indicators in Crypto Investing35:42 Exploring the Crypto Economy41:50 Investment Strategies in Crypto47:02 Evaluating Ethereum and Solana52:52 Understanding Layer 1 and Layer 256:54 Future of Bitcoin and Layer 2 Solutions#CryptoInvesting #Bitcoin #Ethereum #Solana #DigitalAssets #Truvius #NewBarbariansPodcast

In this special episode of The New Barbarians, we're trying something new! This podcast episode is generated by NotebookLM to explore the evolution of portfolio construction and optimization, from traditional methods to cutting-edge machine learning applications. It represents a departure from our usual two-host format as we dive deep into our research. Based on a comprehensive analysis of academic research and practical experience, we'll delve into how quantitative funds are using both thematic model grouping and consolidated alpha signal optimization. Link to Paper - https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5124967 Key topics covered: • Modern Portfolio Theory (MPT): Understand the foundational framework for portfolio optimization, including the efficient frontier concept and risk-return tradeoff. • Risk-Based Asset Allocation: Discover alternatives to MPT, such as risk parity, minimum variance portfolios, and maximum diversification. • Hierarchical Clustering: Learn how hierarchical approaches, like Hierarchical Risk Parity (HRP), can manage the complexity of modern portfolios. • Machine Learning Integration: Explore how machine learning techniques are being used for improved signal processing and prediction in portfolio optimization. • Model-Based vs. Consolidated Alpha Approaches: We analyze the advantages and disadvantages of these two primary portfolio construction methods, including empirical performance insights. • Implementation Framework: We provide practical implementation guidelines with Python code examples, covering data preparation, model-based and consolidated alpha implementations, and risk management. • Future Research Directions: Discover the cutting-edge areas of investigation, such as advanced dataset development, out-of-sample testing methodologies, hybrid optimization approaches, and implementation and practical considerations. Whether you're a seasoned quantitative researcher or just getting started, this video will provide valuable insights into the latest advancements in portfolio management. #finance #quant #bitcoin #thenewbarbarians #stocks #trading

🚀 Market Volatility, Trump’s Tariffs, & The Future of Crypto In this episode of The New Barbarians Podcast, Bill Mann and Mark Connors break down a turbulent week in global markets. From Trump’s unexpected tariffs shaking equities to Bitcoin and gold emerging as key safe havens, we analyze the key macro trends shaping 2025. 📉 Key Topics Covered: - Market Recap: January ended strong with Bitcoin up 9%, gold up 6%, but major equity indices faced volatility. - Trump's Tariffs: Impact on markets and comparisons to historical policies like Smoot-Hawley. - Gold’s Resurgence: Why gold is behaving like it's the 1970s all over again. Bitcoin & Safe Havens: The rise of digital assets as traditional markets stumble. - European Stocks' Surprise Surge: What’s driving their unexpected gains? Crypto Flash Crash: 18-minute market chaos—Ethereum down 28% before rebounding! - Fed & Crypto: Jay Powell’s signals on crypto in banks and what it means for the future of finance. - Ethereum’s L2 Expansion: Chris Rosa previews his upcoming research on - Ethereum’s shift to Layer 2 scaling and its implications for TradFi. - Upcoming Guest: Next week, we welcome Connor Farley, CEO of Truvius, to discuss institutional crypto investing. 💡 What’s Next? - Bill’s upcoming research paper on portfolio optimization & factor investing. - Chris’ deep dive into Ethereum, L2s, and portfolio construction in crypto. - The future of AI-driven portfolio management and financial markets. 🎧 Subscribe, Like, and Comment! Let us know your thoughts and follow us for more insights on traditional and digital markets. 🔗 Follow Our Work: 📜 Substack: Mark R. Connors - https://substack.com/@markrconnors 📜 Harmonic Insights (Bill Mann & Chris Rosa) - https://www.harmoniqinsights.com/ 📜 SSRN for research papers - https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5054066 📜 SmartKarma - Chris Rosa -- https://www.smartkarma.com/profiles/christopher-rosa/research 📜 SmartKarma - Bill Mann -- https://www.smartkarma.com/profiles/william-mann-88ce6ae0-716e-4511-98ee-65b1af2765ff/research Twitter - The New Barbarians - https://x.com/thenewbarbpod Twitter - Mark Connors -- https://x.com/riskdimensions 🌐 Podcast available on all major platforms! #Crypto #Bitcoin #Ethereum #MarketAnalysis #Finance #Investment #MacroEconomics Chapters 00:00 Market Overview and January Performance 09:51 Impact of Tariffs and Economic Uncertainty 20:10 Portfolio Construction and Optimization Techniques 30:07 Future Trends in Crypto and Digital Assets

In this episode of The New Barbarians, hosts Bill Mann, Mark Connors, and producer Christopher Rosa sit down with Dr. Thársis Souza, a computer scientist, former SVP of Product Management at Two Sigma Investments, and author of Taming LLMs. Together, they explore the transformative role of AI in product management, examining how AI is driving innovation, reshaping team dynamics, and challenging traditional approaches to prioritizing and solving problems. Dr. Souza dives into the strengths and shortcomings of large language models (LLMs), showcasing their potential for creativity and idea generation while addressing critical risks such as hallucinations, non-determinism, and factuality issues. The discussion highlights strategies for improving LLM reliability, including sampling techniques, retrieval-augmented generation (RAG), and the use of grounded data. The episode concludes with Dr. Souza’s personal reflection on his 600-mile Camino de Santiago journey, emphasizing the importance of re-evaluating priorities, building resilience, and fostering personal growth. Takeaways - AI won't replace humans, but humans augmented by AI will replace those who ignore AI's evolution. - The price of intelligence is rapidly decreasing, leading to commoditization of AI tools. - Anthropomorphization of AI products enhances user experience and accessibility. - Human judgment will become increasingly valuable in evaluating AI-generated outputs. - Generative AI serves as a powerful tool for idea generation and creativity. - Understanding the non-deterministic nature of LLMs is crucial for effective use. - Sampling strategies can help manage risks associated with LLM outputs. Open source AI development may accelerate without government regulations. - The Camino de Santiago offers a unique opportunity for personal reflection and growth. - Product managers will need to adapt to the changing landscape of AI and technology. Links: 📖 Taming LLMs by Tharsis Souza - https://www.tamingllms.com/markdown/toc.html 🌐 More about podcastify.ai - https://github.com/souzatharsis/podcastfy 🌐 The GenAI Product Manager - https://www.souzatharsis.com/writing/aipm/ 💡 Subscribe for more insights on AI, digital assets, and innovation! Chapters 00:00 Introduction to the New Barbarians Podcast 02:01 Market Overview and Recent Events 09:27 Introduction to Tharsis Souza and His Work 10:30 Technical Insights on LLMs and Financial Services 17:48 Understanding Generative AI and Non-Determinism 25:46 Sampling Strategies and Risk Management in LLMs 31:33 Addressing Factuality in AI Responses 34:11 The Evolution of AI Models and Human Perception 38:59 The Future of AI: Agents and Human Agency 41:29 The Role of Product Managers in the Age of AI 49:06 The Camino de Santiago: A Journey of Reflection #AI #Bitcoin #DigitalAssets #LLMs #CaminoDeSantiago

Summary In this episode of The New Barbarians Podcast, Bill Mann, Mark Connors, and Christopher Rosa dive into the dynamic world of markets on the eve of Trump's 2025 inauguration. We explore the "Trump Trade," discuss how to design portfolios for both strategic and tactical opportunities, and analyze the latest developments in the crypto space, including Bitcoin's dominance, altcoin trends, and the potential for stablecoin adoption by banks. The team also shares insights into using AI and large language models (LLMs) to synthesize market data and build smarter portfolios. From GDP forecasts and CPI prints to the intersection of traditional finance and blockchain innovation, this episode provides a comprehensive look at navigating today's volatile markets. Links from the Video https://www.tamingllms.com/markdown/t... https://substack.com/@markrconnors https://harmoniqinsights.substack.com Q1 2025 Tactical Portfolio Design Bitcoin and Altcoin Market Trends The Impact of Trump's Inauguration on Markets AI and LLMs in Investment Research Stablecoins and Real-World Asset Tokenization The Trump trade is influencing market dynamics significantly. Economic realities must be addressed alongside policy promises. A diversified portfolio can help navigate market volatility. Cryptocurrency is becoming increasingly intertwined with traditional finance. AI tools are essential for synthesizing investment insights. Risk management is crucial in volatile market conditions. Investors should focus on quality and value stocks in uncertain times. The digital asset market is rapidly evolving with new opportunities. Stablecoins could play a pivotal role in the future of finance. Navigating the Trump Trade: Market Insights Portfolio Strategies for a Volatile Market 🔗 Topics Covered: 📈 Stay ahead of the curve with actionable insights and strategies. Don’t forget to like, comment, and subscribe for more episodes of The New Barbarians Podcast! Takeaways Inflation expectations are relatively normal, aligning with GDP forecasts. titles Chapters 00:00 Introduction to the New Barbarians Podcast 00:23 Market Overview and Recent Trends 02:27 Navigating Economic Realities and Trump Trade 07:46 Portfolio Strategies and Tactical Outlooks 16:36 Winners and Losers in the Trump Trade 21:26 Risk Management and Portfolio Construction 29:52 Navigating Cryptocurrency and Traditional Finance 33:11 The Dynamics of Bitcoin and Altcoins 35:40 Understanding Digital Asset Concentration 39:27 The Role of Stablecoins in Banking 45:11 Leveraging LLMs in Investment Strategies 57:43 Best Practices for Using LLMs in Finance