Episodes

  • The EU folds on tariffs
    Jul 29 2025

    Experts agree: When it comes to tariffs, Europe just got trounced. So did the American consumer, who will pay these taxes. Today on the show, Rob Armstrong and Ben Hall, the FT’s Europe editor, discuss the terms of the deal, and why Europe didn’t retaliate. Also they go long US oil production and short the long-term health of American manufacturing.


    Sign up for the FT Weekend Festival at ft.com/festival and use the promo code “FTPodcasts” for 10 per cent off.


    For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.


    You can email Robert Armstrong and Katie Martin at unhedged@ft.com.

    Hosted on Acast. See acast.com/privacy for more information.

    Show more Show less
    17 mins
  • Is M&A turning around?
    Jul 24 2025

    When Republicans won the White House and both houses of Congress last fall, mergers and acquisitions bankers celebrated. But when President Donald Trump took office, M&A stagnated. Today on the show, the FT’s Wall Street editor Sujeet Indap tells Aiden Reiter why that may be changing, with big deals pending on everything from railroads to media conglomerates. Also, they go long Scottie Scheffler and short Japan.


    Sign up for the FT Weekend Festival at ft.com/festival and use the promo code “FTPodcasts” for 10 per cent off.


    For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.


    You can email Robert Armstrong and Katie Martin at unhedged@ft.com.


    Read a transcript of this episode on FT.com

    Hosted on Acast. See acast.com/privacy for more information.

    Show more Show less
    18 mins
  • Robotaxis, tech earnings and 24-hour trading
    Jul 22 2025

    Today on the show, Aiden Reiter talks with Lex editor John Foley about three things to watch this summer: 24-hour trading, tech earnings and Tesla’s new approach to robotaxis. Also, they go short Bank Holidays, and long properly measuring GDP.


    For more on 24-hour trading, check out Jennifer Hughes’ guest appearance on the FT’s Behind the Money podcast. Link here.

    Sign up for the FT Weekend Festival at ft.com/festival and use the promo code “FTPodcasts” for 10 per cent off.


    For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.


    You can email Robert Armstrong and Katie Martin at unhedged@ft.com.


    Read a transcript of this episode on FT.com

    Hosted on Acast. See acast.com/privacy for more information.

    Show more Show less
    20 mins
  • Is Nvidia really worth $4tn?
    Jul 17 2025

    Nvidia is now the most valuable company in America, as AI seems to power an unstoppable market. Today on the show, Katie Martin and Aiden Reiter ask if it reminds anyone of the dotcom bubble. Also they go long snow globes and long stone fruit.


    Sign up for the FT Weekend Festival at ft.com/festival and use the promo code “FTPodcasts” for 10 per cent off.


    For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.


    You can email Robert Armstrong and Katie Martin at unhedged@ft.com.


    Read a transcript of this episode on FT.com

    Hosted on Acast. See acast.com/privacy for more information.

    Show more Show less
    18 mins
  • Heinz, Kraft and Warren Buffett
    Jul 15 2025

    The acquisition of Heinz and Kraft by 3G Capital and Warren Buffett seemed like a classic play from the world’s most famous investor: buy boring staples with long histories and hold them forever. But not this time. Today on the show, Rob Armstrong and Lex editor John Foley talk about Buffett’s exit from a merger on the verge of a spinoff. Also they go long crypto and long tariffs that might actually happen.


    Sign up for the FT Weekend Festival at ft.com/festival and use the promo code “FTPodcasts” for 10 per cent off.


    Read a transcript of this episode on FT.com

    Hosted on Acast. See acast.com/privacy for more information.

    Show more Show less
    21 mins
  • The secret giant of finance
    Jul 11 2025

    Jane Street is one of the biggest traders in the world, and they have become embroiled in accusations of market manipulation in India. Today on the show, Katie Martin and special guest Robin Wigglesworth, from the FT’s Alphaville newsletter, try to explain how Jane Street got so big and why it matters. Also they go short bed bugs and short Strategy’s strategy.


    Sign up for the FT Weekend Festival at ft.com/festival and use the promo code “FTPodcasts” for 10 per cent off.


    For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.


    You can email Robert Armstrong and Katie Martin at unhedged@ft.com.


    Read a transcript of this episode on FT.com

    Hosted on Acast. See acast.com/privacy for more information.

    Show more Show less
    23 mins
  • Three surprises that might spook the markets
    Jul 8 2025

    Despite looming economic problems, the stock market continues to climb. Today on the show, Katie Martin, Rob Armstrong and Aiden Reiter ask what could finally end the party. Also they go short consultants and short hot yoga.


    Sign up for the FT Weekend Festival at ft.com/festival and use the promo code “FTPodcasts” for 10 per cent off.


    For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.


    You can email Robert Armstrong and Katie Martin at unhedged@ft.com.


    Read a transcript of this episode on FT.com

    Hosted on Acast. See acast.com/privacy for more information.

    Show more Show less
    23 mins
  • The dilapidated dollar
    Jul 3 2025

    The US dollar is having its worst year since 1973. And 1973 was a really bad year. As the US takes a break to celebrate independence from the UK, Katie Martin and Ian Smith discuss the glow-down of the greenback. Also they go long forensic accountants and long aged hedge funders playing tennis.


    For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.


    You can email Robert Armstrong and Katie Martin at unhedged@ft.com.


    Read a transcript of this episode on FT.com

    Hosted on Acast. See acast.com/privacy for more information.

    Show more Show less
    23 mins