In addition to our On The Tape episodes from last week (our latest and greatest below, it was a bitcoin batle), I was on my friend Josh Brown’s The Compound Show that dropped Friday. Josh and I catch up after fairly limited contact over the past year, we share some stories about how we came up in the business of financial media, and most importantly discussed the curious activity in the equity options market of late, we debate how that options flow might be affecting the stock market and we have some advice for the legions of new market participants who have a greater interest in EPM (earnings per meme) vs EPS (earnings per share) when it comes to investing. (The last time I saw Josh was on Feb 25th, 2020 for an infamous Markets In Turmoil special on CNBC, right after the stock market started dropping precipitously in anticipation of covid lockdowns, watch here).
Before Josh got to our conversation he spends a must listen 30 minutes on his views on racial injustice in our country and opines that much of our existing issues are not only the result of systemic racism but also failed public policy, specifically economic policies that started off with good intentions but ultimately lead to widening income inequality over the last 100 years.
Thanks to Josh for having me on, and Guy, Danny, and I are really excited about having Josh join us on On The Tape in a couple of weeks. Stay Tuned!
Listen to The Compound Show HERE
Also on Friday, I joined my fellow CNBC Fast Money panelist Guy Adami and our friend Danny Moses (who you may know from The Big Short) on another episode of our podcast, On The Tape.
You can listen on the website or at your preferred podcast store (Apple Podcasts, Spotify, Google Podcasts, Amazon Music, and Deezer), and please subscribe to have it delivered to your devices each Friday.
We discuss this week’s volatility event in the cannabis space (3:25), the state of tech valuations and M&A (9:40) amidst news on TikTok and Walmart/Oracle, and rumored talks between Pinterest and Microsoft. We break down the changing market structure with payment for order flow company Virtu Financial (17:39).
We also interview crypto investors Meltem Demirors and Brian Kelly (22:03) and debate the pillars of the bull case for bitcoin as we see some publicly-traded companies put bitcoin on their balance sheets. Dan gets meme-d (are we using that correctly?) by Meltem as she describes what bitcoin and decentralized finance represent for the next generation of investors and what this all has to do with the WallStreetBets traders and GME volatility.