Matt and Katie discuss the Michael Saylor vs. Jim Chanos debate, financial gibberish, the mid-2000s federal clerkship hiring plan, private equity recruiting and mid-frequency trading.

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Katie and Matt discuss Wells Fargo’s asset cap, credit ratings conflicts of interest, private credit controversies in the insurance business, why BBB- is the best rating, Main Line real estate prices, Marshall Wace, hiring cheaters at hedge funds and signals from the sell side.

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Katie and Matt discuss Katie’s new bird, the legality of tariffs, the TACO trade, rooting for the nondelegation doctrine, implicit guarantees, the money to be made if Fannie Mae and Freddie Mac are re-privatized, stuffing Bitcoins into public companies and owning the global financial asset portfolio.

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Katie and Matt talk with Ryan Patch and Jon Seale of Great Gotham Challenge about building puzzle hunts for the hedge fund manager who has everything.

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Matt and Katie discuss leveraging up your 401(k), everyone's love for putting private credit into retirement accounts, mortgages versus margin loans, college finance clubs, travel sports and how to get Elon Musk paid.

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Katie and Matt discuss Warren Buffett's retirement, his successor at Berkshire Hathaway, his other successor (Bill Ackman), OpenAI's restructuring, Sam Altman's incentives and Medicaid provider taxes.

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Matt and Katie talk about what Tesla is, splitting the roles of CEO and Technoking, the Musk attention auction, the benefits of not paying attention to X debt prices, and why everyone likes private assets.

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Matt and Katie talk general craziness, tariffs, Jerome Powell, volatility and predictability, plus Goldman pay, alts managers versus banks, Twenty One and negative Bitcoin per share.

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