Podcast · Business

Making Markets

by Colossus | Investing & Business Podcasts · English · Business

Making Markets explores the psychology and structure that make up markets all over the world. Each week, Eric Golden speaks to experts about a different market so you can see what actually happens when money changes hands. From mainstream stock and bond markets to esoteric niches like vineyards, ant

New episodes: Every two weeks
Typical length: 47 min
Latest: 21 Nov 2025
Language: English

Latest episode

21 Nov 2025 · 47 min

Cosmo Jiang - Unpacking Digital Asset Treasuries - [Making Markets, EP.70]

My guest today is Cosmo Jiang, Partner at Pantera Capital. Pantera was one of the earliest institutional voices to embrace digital asset treasury companies, or DATs, and helped catalyze the Solana DAT wave. We begin by unpacking the DAT investment thesis using a traditional fundamental investing framework. We then discuss the role of DATs in the crypto-ecosystem, the convergence of crypto and traditional finance, and why Solana is their largest position. Please enjoy this conversation with Cosmo Jiang. For the full show notes, transcript, and links to the best content to learn more, check…

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Earlier episodes 29 most recent

7 Nov 2025 · 39 min
Chris Boettcher: Health Without Hacks - [Making Markets, EP.69]
My guest today is Chris Boettcher , co-founder of Boettcher Health. Chris has a rule: if a health plan isn’t sustainable, it’s not worth doing. Today, he breaks down how to build a health system that actually lasts. We talk about the myth of willpower, how modern food and medicine created dependency, and how to design a life that actually supports your body. Please enjoy this conversation with Chris Boettcher. For the full show notes, transcript, and links to the best content to learn more, check out the episode page HERE. ----- Making Markets is a property of Colossus, LLC. For more…
24 Oct 2025 · 39 min
Paul Bloch: Powering the AI Revolution - [Making Markets, EP.68]
My guest today is Paul Bloch , co-founder and CEO of DDN. Once bootstrapped for decades, DDN is now a multi-billion dollar company partnering with Nvidia, Google, and Blackstone, helping customers train the largest models in the world and deploy AI at scale. We discuss how Paul and his team spotted the AI inflection point early, why infrastructure partnerships define the winners and losers in this space, and how DDN balances discipline with massive growth opportunities. Please enjoy this conversation with Paul Bloch. For the full show notes, transcript, and links to the best content to learn…
10 Oct 2025 · 46 min
Quarterly Market Recap: Q3 2025 - [Making Markets, EP.67]
Eric and Matt break down a strong third quarter that saw the S&P 500 climb 10%, leaving Liberation Day's tariff chaos behind. They explore the growing divide between wealthy asset owners feeling great and everyone else struggling with inflation, while examining why bonds are pricing in Fed rate cuts even as stocks surge. The conversation turns to the private markets boom and whether opening up private equity to retail 401(k) investors is a good idea or a disaster waiting to happen. Eric shares why AI companies are burning massive amounts of capital with unclear returns, yet may be impossible…
26 Sep 2025 · 45 min
Entrepreneurship, Markets, and the Fed - [Making Markets, REPLAY]
In this replay, I’m on the other side of the mic, as I’m interviewed by Joe Magyer, the founder of Seaplane Ventures. This is a wide-ranging conversation where we talk about the Fed rate cut, cover different asset classes including VC, PE, Fixed Income, and Public Equities, and my journey in building Canopy Capital. This episode first appeared on the Investing in Startups podcast hosted by Joe, which I highly recommend you check out. Please enjoy this conversation with Joe Magyer. For the full show notes, transcript, and links to the best content to learn more, check out the episode page…
12 Sep 2025 · 36 min
Ritik Malhotra - The Future of Wealth Management - [Making Markets, EP.66]
My guest today is Ritik Malhotra , co-founder and CEO of Savvy. We’re in the middle of a powerful cycle in wealth management- advisors leaving big institutions to go independent. Savvy is building the infrastructure to make that transition possible. In our conversation, we explore the rise of RIAs, the challenges of breaking away, and how capital from both venture and private equity is reshaping the market. Please enjoy this conversation with Ritik Malhotra. For the full show notes, transcript, and links to the best content to learn more, check out the episode page HERE . ----- Making…
29 Aug 2025 · 1 hr 10 min
Darren Fisk: Navigating Real Estate Cycles - [Making Markets, EP.65]
My guest today is Darren Fisk , founder and CEO of Forum Investment Group. Darren’s journey runs from a late-night $100 bet in a frat house that propelled him into Division 1 football to building a national real estate platform. We try to keep the conversation as wide-ranging as his career, covering everything from cultivating drive and resilience in your children to managing debt and seizing opportunities in real estate. Along the way, Darren shares the lessons he’s carried from the locker room into the boardroom, the evolving landscape of commercial real estate, and the strategic…
15 Aug 2025 · 49 min
Charlie Shrem: The Journey of Bitcoin - [Making Markets, REPLAY]
Today, we are replaying my conversation with Charlie Shrem . Charlie was a founding member of the Bitcoin Foundation and BitInstant - one of the earliest Bitcoin exchanges. In this episode, he takes us through his incredible life story-starting with how an Orthodox Jew from Brooklyn got into the wild world of Bitcoin. He then talks about how Bitcoin went from a toy to a real store of value, the wild success of BitInstant, his time in prison, and how he met Justin Trudeau through a robot. The story of Charlie’s adult life is in many ways mirrors the story of Bitcoin, and I hope you enjoy this…
1 Aug 2025 · 49 min
Zac Townsend: Insurance for the Crypto Era - [Making Markets, EP.64]
My guest today is Zac Townsend , co-founder and CEO of Meanwhile. Insurance is a product nearly everyone touches, but few understand, and even fewer try to reinvent. Meanwhile is doing just that, building a fully licensed life insurance carrier that holds its reserves in Bitcoin. In this conversation, we talk about what makes insurance structurally hard to change, how Bitcoin opens up new design space, and why innovation here demands control over product, capital, and regulation all at once. Please enjoy this conversation with Zac Townsend. For the full show notes, transcript, and links to…
18 Jul 2025 · 49 min
Quarterly Market Recap: Q2 2025 - [Making Markets, EP.63]
Eric and Matt dive into the fascinating dynamics of the market from the past quarter. Despite a 10% rise in the S&P 500, the quarter was marked by significant early volatility due to unexpected tariff announcements. The discussion covers the impact of tariffs on markets, the influence of global trade tensions, and the interplay between short-term and long-term market reactions. They also delve into the implications of AI and new technologies on market trends and the potential for volatility driven by algorithmic trading. The episode explores the role of the US Federal Reserve, the evolving…
4 Jul 2025 · 1 hr 23 min
Haseeb Qureshi: The TAM of Crypto - [Making Markets, REPLAY]
Today, we are revisiting my conversation with Haseeb Qureshi, managing partner at Dragonfly Capital. From making millions through poker before the age of 21, to going viral for an article on negotiation, to being hired personally by Naval Ravikant to be a crypto VC, Haseeb’s life could be a Netflix movie. We dive into that backstory and all he’s learned about the relationship between work, money, and happiness. We also talk about the Bitcoin ETF, Dragonfly Capital, his biggest miss as a VC, and how he approaches investing today. Please enjoy this fascinating and wide-ranging conversation…
20 Jun 2025 · 51 min
Sid Malladi: The Future of B2B Trade - [Making Markets, EP.62]
My guest today is Sid Malladi , founder of Nuvo. Behind every product, from wine to lumber to steel, is a complex web of B2B relationships, built slowly, at high cost, and constrained by risk. Nuvo aims to change that by building a digital network that accelerates onboarding, visibility, and trust. In this conversation, Sid takes us through that journey. We discuss the frictions that define B2B trade, the cold-start challenge of building a network from scratch, and how Nuvo approaches trust like a FICO score for businesses. We also explore the broader macro forces shaping supply chains…
6 Jun 2025 · 54 min
Robbie Cannon: The Evolution of Asset Management - [Making Markets, REPLAY]
Today we are replaying my conversation with Robbie Cannon. Robbie founded Horizon Investments in 1999 and grew the company to $7B in AUM before selling in 2021. Today, he takes us on a tour of the asset management industry. We cover many fascinating topics, such as the industry's evolution over 25 years, the blurring of lines between wealth and asset management, oligopolies in finance, the impact of private equity, the role of technology and AI, and more. Please enjoy this conversation with Robbie Cannon. For the full show notes, transcript, and links to the best content to learn more, check…
23 May 2025 · 46 min
Dan Dicker: The Great Oil Reckoning - [Making Markets, EP.61]
My guest today is Daniel Dicker , a seasoned oil trader, former floor broker at the NYMEX, and well-known expert on energy markets. Over a three-decade career, Daniel has seen the full arc of oil’s role in financial markets—from a bellwether commodity to a sidelined input. In this conversation, we explore why oil has fallen off the radar for many investors, and what signs might bring it roaring back. We also discuss why renewables aren’t ready, how nuclear fits in, and the unexpected reasons he might start buying oil again. Please enjoy this conversation with Daniel Dicker. For the full show…
9 May 2025 · 45 min
Quarterly Market Recap: Q1 2025 - [Making Markets, EP.60]
In this quarterly market recap, Matt Reustle turns the mic on Eric to analyze the tumultuous market environment of Q1 2025. They discuss the significant market downturn following the implementation of unexpected tariff policies, with the S&P down over 8% and Nasdaq down 12.5% by mid-April. Eric provides insights into how surprisingly high tariff announcements completely upended market expectations, the bond market's volatile reaction, and potential implications for corporate earnings and economic growth. The conversation explores the complex relationship between the US and China, concerns…
18 Apr 2025 · 53 min
Mark Dow: Tariffs, Trade, and Trump - [Making Markets, EP.59]
My guest today for the second time is Mark Dow . Mark is one of my favourite thinkers on Macro, and his experience at the IMF, the US Treasury, and Wall Street gives him a truly unique perspective for the current moment. As we went through one of the biggest market and policy upheavals of my career, I reached out to Mark to help us make sense of this situation. We recorded this episode on Thursday, the 10th of April, and talked about the general principle behind tariffs, the global trading system, the goals of President Trump, and the market reaction. Please enjoy this conversation with Mark…
11 Apr 2025 · 1 hr 10 min
Barry Ritholtz: Cutting Through Financial Noise - [Making Markets, EP.58]
My guest today is Barry Ritholtz . As the founder & CIO of Ritholtz Wealth Management Barry manages assets of over $5B. He is also a famous author and commentator, fondly known as the 'Prickly Prophet of Wall Street' for his contrarian views. In this conversation, Barry shares the origin story and the ideas behind his latest book, "How Not to Invest." We also talk about how he’s remained a force in the industry while calling out powerful people, advice for curating the right information diet, and some of his biggest misses. Please enjoy this conversation with Barry Ritholtz. For the full…
28 Mar 2025 · 39 min
Evan Tindell: Value Investing in 2025 - [Making Markets, EP.57]
My guest today is Evan Tindell . Evan graduated from MIT and became a professional poker player before entering the investing world. He’s now the co-founder and CIO of Bireme Capital, where he’s delivered over 19% annualized returns since 2016 by sticking to classic, old-school value investing. In this conversation, we talk about how Evan developed his philosophy, why he stuck with value through challenging cycles, and how he thinks about shorting meme stocks in a market dominated by narratives and momentum. We also dive into his views on the Mag 7, Tesla, Japan, and how he’s using AI tools…
14 Mar 2025 · 43 min
Jonathan Birnbaum: Modernizing the Bond Market - [Making Markets, EP.56]
My guest today is Jonathan Birnbaum , the Founder and CEO of OpenYield. After over a decade in finance, Jon set out to tackle a challenge close to my heart—bringing a modern trading experience to the world of Fixed Income. Today, he breaks down how market structure, technology, and regulation have shaped the evolution of trading platforms. We also cover the challenges of modernizing bond trading, the role of liquidity providers, and the cold start problem. Please enjoy this conversation with Jon Birnbaum. For the full show notes, transcript, and links to the best content to learn more, check…
28 Feb 2025 · 44 min
Phil Huber: The Case for Private Credit - [Making Markets, REPLAY]
Today we are replaying my conversation with Phil Huber , the Head of Portfolio Solutions at Cliffwater. The private credit market has exploded recently, with Assets under management reaching a staggering $1.2T last year. I’ve been a little skeptical of this asset class, so I asked Phil to come on and convince me otherwise. We talk about the demand side of the equation, whether we are in a bubble, downside protection, due diligence, volatility and more. Phil also covers his backstory and his unique role at Cliffwater. Please enjoy this discussion with Phil Huber. For the full show notes,…
14 Feb 2025 · 19 min
Hester M. Peirce: The Next Chapter of Crypto Regulations - [Making Markets, EP.55]
My guest today is SEC commissioner Hester Peirce , also known as the Crypto mom for her strong support of the industry. Commissioner Peirce was recently appointed as the head of the SEC’s new Crypto Task Force, and here, she lays out her overall, vision, key goals, and her thoughts on the Howie test and the tension between free markets and protecting investors. This is a short but very important episode just as web3 is on the cusp of a new beginning in America. Please enjoy this conversation with Commissioner Peirce. For the full show notes, transcript, and links to the best content to learn…
31 Jan 2025 · 55 min
Meb Faber: Taxation and Diversification - [Making Markets, EP.54]
My guest today is Meb Faber , the co-founder and CIO of Cambria Investments, an RIA that manages over $2B in assets. Meb is also one of the biggest investing nerds I know, and today, we dive into a wide variety of topics, from taxation to portfolio construction to various asset classes. We start by diving into the 351 exchange, its mechanics, and the problems it solves for investors. Meb then shares his broad view of the market, how Cambria combines value investing with trends, and the impact of concentration. We close by talking about fixed income, public and private markets, and a few hot…
17 Jan 2025 · 42 min
Quarterly Market Recap: Q4 2024 - [Making Markets, EP.53]
In this Q4 2024 recap episode of Making Markets, Eric and Matt examine how markets defied bearish expectations, with the S&P 500 up 23% and Bitcoin surging 150%. Eric provides insight into Bitcoin's growing institutional adoption, particularly focusing on BlackRock's record-breaking Bitcoin ETF launch and its implications for the broader crypto market. He analyzes the impact of AI on markets and businesses, suggesting that while the technology is transformative, current valuations may be getting ahead of reality. The conversation explores changes in the regulatory landscape, particularly…
3 Jan 2025 · 1 hr 2 min
Eric Johnson: The Complex World of Global Logistics - [Making Markets, EP.52]
My guest today is Eric Johnson , the Senior Technology Editor at the Journal of Commerce . With over 20 years of experience covering the intersection of logistics and technology, Eric brings a wealth of knowledge to the table. In our conversation, we explore the complex and fascinating world of logistics—how goods move from point A to point B, the myriad players involved, and the role of technology. We also discuss the challenges posed by pandemics and other crises, the strike of the longshoremen, the availability of data, and more. Please enjoy this insightful discussion with Eric Johnson.…
13 Dec 2024 · 49 min
Charlie Shrem: The Journey of Bitcoin - [Making Markets, EP.51]
My guest today is Charlie Shrem . Charlie was a founding member of the Bitcoin Foundation and BitInstant - one of the earliest Bitcoin exchanges. In this episode, he takes us through his incredible life story-starting with how an Orthodox Jew from Brooklyn got into the wild world of Bitcoin. He then talks about how Bitcoin went from a toy to a real store of value, the wild success of BitInstant, his time in prison, and how he met Justin Trudeau through a robot. The story of Charlie’s adult life is in many ways mirrors the story of Bitcoin, and I hope you enjoy this episode with Charlie…
29 Nov 2024 · 57 min
Adam Abbas: Navigating the Credit Markets - [Making Markets, EP.50]
My guest today is Adam Abbas , Portfolio Manager and Head of Fixed Income at Oakmark. After recording over a hundred podcasts, I was thrilled to finally chat with another Fixed Income manager. We start with some valuable lessons from investing in the TMT sector, the impact of zero interest rates, and the role of monetary policy in the credit markets. We then explore today’s opportunities in fixed income, the growing influence of private credit, and the thinking behind launching a fund at Oakmark. Please enjoy this conversation with Adam Abbas. For the full show notes, transcript, and links…
15 Nov 2024 · 54 min
Eric Seufert: A Primer on Digital Advertising - [Making Markets, EP.49]
My guest this week is Eric Seufert . In the words of Ben Thompson from Stratecherry, Eric is arguably the best writer and commentator on digital advertising, and today, he gives us a masterclass on the subject. We start by talking about Apple’s ATT framework, Meta’s recovery, and what the current ecosystem looks like. We also talk about X, advertising on the open web, and clearing many common misconceptions about targetted advertising. Please enjoy this conversation with Eric Seufert. For the full show notes, transcript, and links to the best content to learn more, check out the episode page…
1 Nov 2024 · 47 min
Sam Rines: What the Election Means for Markets - [Making Markets, EP.48]
My guest this week is Sam Rines , economist, author and Macro Strategist at WisdomTree. Sam was the first guest on Making Markets one year ago, where a lot of his takes proved to be highly accurate. So we decided to record part II one week before the election. We start with his base case for the election, the potential scenarios, and what has and hasn’t been priced in. We then move onto a wider discussion on the economy, including the fed, the strength of the US consumer, AI and Sam’s portfolio positioning. Please enjoy this conversation with Sam Rines. For the full show notes, transcript,…
18 Oct 2024 · 45 min
Joe Magyer: Entrepreneurship, Markets, and the Fed - [Making Markets, EP.47]
This week again, I’m again on the other side of the mic, as I’m interviewed by Joe Magyer, the founder of Seaplane Ventures. This is a wide-ranging conversation where we talk about the Fed rate cut, cover different asset classes including VC, PE, Fixed Income, and Public Equities, and my journey in building Canopy Capital. This episode first appeared on the Investing in Startups podcast hosted by Joe, which I highly recommend you check out. Please enjoy this conversation with Joe Magyer. For the full show notes, transcript, and links to the best content to learn more, check out the episode…
11 Oct 2024 · 39 min
Quarterly Market Recap: Q3 2024 - [Making Markets, EP.46]
Eric and Matt share insights on the market's performance through the third quarter of 2024, highlighting the S&P rising by 6% and a significant 50 basis point rate cut by the Federal Reserve, the first since the pandemic. Eric reflects on market sentiment and the complexities of predicting Fed actions, addressing the contrasts between past and present credit cycles, and emphasizing the importance of leverage awareness. They also delve into the impact of fiscal stimulus, wage inflation, and private market trends, while considering potential risks like inflation resurgence and government debt…

About Making Markets

Making Markets is a English business podcast from Colossus | Investing & Business Podcasts. Melo plays each episode straight from the publisher's own feed — no ads added, no account needed — and remembers where you stopped, in this browser only.

Publisher: Colossus | Investing & Business Podcasts
Language: English
Category: Business
New episodes: Every two weeks
Typical length: 47 min
Latest episode: 21 Nov 2025
Feed: RSS — paste into any podcast app
Apple Podcasts: podcasts.apple.com/podcast/id1594407589
Rights: Colossus | Investing & Business Podcasts

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