S3 Partners founder & managing partner Bob Sloan and Charlie Gasparino of Fox Business and the New York Post cover the headlines and data moving markets.
This week: the hedge moved from rates to credit spreads. Bob walks through why short interest in the investment grade ETF keeps climbing now that a 5% world looks as hard on high quality borrowers as it is on high yield, why long duration Treasury shorts have flattened out while both credit ETFs get pressed, and why shorts are selling airline stocks as a proxy for the price of oil while active long managers quietly build the other side of that trade.
Plus Charlie on the first Columbus Day celebration ever held at the New York Stock Exchange and the Italian American financiers it honored, what David Zaslav does next now that the Warner Brothers sale to Skydance is done and how many people at the company got rich alongside him, and why the short interest building in Meta points to a monster secondary landing ahead of an Anthropic IPO.
Chapters:
0:00 Intro
1:42 Columbus Day at the New York Stock Exchange
2:54 Dick Grasso and the exchange he built
4:03 Vinnie Viola, from Williamsburg to Virtu
5:10 Ken Langone, Home Depot and NYU Langone
11:48 How many people the Warner Brothers sale made rich
12:37 Meta, the AI spend and a secondary in the wings
17:25 Credit ETFs, shorts move into investment grade
19:42 The hedge rotates from rates to credit spreads
21:15 Airlines shorted as a proxy for oil
23:34 What makes a stock a battleground
27:36 Shipping, beer and alt energy next week
28:20 A Columbus Day detour through The Sopranos
33:39 Wrap
Hosted by Bob Sloan, founder & managing partner of S3 Partners, and Charlie Gasparino of Fox Business and the New York Post.
Follow:
Bob Sloan: https://x.com/BobSloanS3
Charlie Gasparino: https://x.com/CGasparino
S3 Partners: https://x.com/S3Partners
Nothing in this episode should be considered investment advice.
