Shows
Why Invest?An Interview with Paul Podolsky: Founder of Kate Capital LLCIn this episode of Why Invest? host Luke Hyde-Smith is joined by Paul Podolsky, former Bridgewater executive, author, and founder of Kate Capital. Paul shares his journey from journalism in 1990s Russia, to macro investing at one of the world’s most successful hedge funds.They explore the current macroeconomic backdrop, including US policy volatility and rising geopolitical tensions and discuss why strong economic growth doesn’t always lead to strong returns.Paul introduces Kate Capital and his investment approach in a world where traditional 60/40 portfolios may no longer work.This...2025-05-1549 min
NBN Book of the DayPaul Podolsky, "The Uncomfortable Truth About Money: How to Live with Uncertainty and Learn to Think for Yourself" (Harriman House, 2024)We are all stuck in a money cage. Money isn’t the most important thing, but it is a thing and you can’t get away from it. Birth costs money and death costs money. So even if you hate talking about money, you need to know the basics, the same way you need to know how to cook yourself a simple meal. The problem with most money books is that they are not written by practitioners and avoid hard truths. Paul Podolsky’s The Uncomfortable Truth About Money: How to Live with Uncertainty and Learn to Think for Yoursel...2025-02-1447 min
New Books in EconomicsPaul Podolsky, "The Uncomfortable Truth About Money: How to Live with Uncertainty and Learn to Think for Yourself" (Harriman House, 2024)We are all stuck in a money cage. Money isn’t the most important thing, but it is a thing and you can’t get away from it. Birth costs money and death costs money. So even if you hate talking about money, you need to know the basics, the same way you need to know how to cook yourself a simple meal. The problem with most money books is that they are not written by practitioners and avoid hard truths. Paul Podolsky’s The Uncomfortable Truth About Money: How to Live with Uncertainty and Learn to Think for Yoursel...2025-02-1447 min
New Books in FinancePaul Podolsky, "The Uncomfortable Truth About Money: How to Live with Uncertainty and Learn to Think for Yourself" (Harriman House, 2024)We are all stuck in a money cage. Money isn’t the most important thing, but it is a thing and you can’t get away from it. Birth costs money and death costs money. So even if you hate talking about money, you need to know the basics, the same way you need to know how to cook yourself a simple meal. The problem with most money books is that they are not written by practitioners and avoid hard truths. Paul Podolsky’s The Uncomfortable Truth About Money: How to Live with Uncertainty and Learn to Think for Yoursel...2025-02-1447 min
New Books in Business, Management, and MarketingPaul Podolsky, "The Uncomfortable Truth About Money: How to Live with Uncertainty and Learn to Think for Yourself" (Harriman House, 2024)We are all stuck in a money cage. Money isn’t the most important thing, but it is a thing and you can’t get away from it. Birth costs money and death costs money. So even if you hate talking about money, you need to know the basics, the same way you need to know how to cook yourself a simple meal. The problem with most money books is that they are not written by practitioners and avoid hard truths. Paul Podolsky’s The Uncomfortable Truth About Money: How to Live with Uncertainty and Learn to Think for Yoursel...2025-02-1447 min
Talking Billions with Bogumil BaranowskiPaul Podolsky: The Uncomfortable Truth About Money: How to Live with Uncertainty and Learn to Think for YourselfPaul Podolsky is an author, podcaster, journalist, and investor who spent time in Russia in the 1990s, and then worked on Wall Street for over two decades, much of it at Bridgewater Associates, the world’s largest hedge fund, with Ray Dalio as his boss. His father worked on the Manhattan Project, with Robert Oppenheimer as his boss. Today, we talk about his newest book, an absolute delight to read — The Uncomfortable Truth About Money: How to live with uncertainty and learn to think for yourself
Summary
In this conversation, Paul Podolsky shares his journey from...2025-01-201h 11
A Conversation with PaulA Conversation with Lt. Gen (Ret.) HR McMasterTHIS IS NOT INVESTMENT ADVICE. INVESTING IS RISKY AND OFTEN PAINFUL. DO YOUR OWN RESEARCH.There are about 45,000 Russian casualties a month now in Ukraine. That equates to a rate of 540,000 soldiers per year or about 1% of Russia’s male, fighting-age population, thus the call to North Korea to supply troops. About 15% of Russia’s population died in World War 2, so today’s losses are modest in comparison but by modern standards an incomprehensible cost for territorial gain. Almost all of those who die come from Russia’s hinterlands. An American equivalent would be if the Pent...2024-12-0748 min
Read Beat (...and repeat)“The Uncomfortable Truth About Money” by Paul PodolskyBooks that seek to help you understand the world of finance probably aren’t viewed as the most engaging of literary categories. Consumers, after all, hold that book in their hands for a specific reason: to understand policy rates better or inflation-linked bonds not for a ripsnorting reading adventure.Paul Podolsky, a former equity partner at Bridgewater Associates and the founder and CIO of Kate Capital, an investment management firm, however, has tried to make his advice on the subject accessible. The Uncomfortable Truth About Money carries a subtitle: How to live with uncertainty and think for yo...2024-11-2528 min
A Conversation with PaulGlobal Shipping TutorialHappy Friday!This is a fun interesting conversation. I originally posted it last month but due to how Substack is set up only a portion of you were able to hear it. So I am re-posting now for broader distribution. As we may be on the cusp of another major trade war, this conversation could not be more timely. Hamish is the President of Starbulk Carriers, which operates a fleet of boats that ship grain, iron ore and other key ingredients to global commerce all over the world. It’s an ancient business. If you understand shipping, yo...2024-10-2653 min
A Conversation with PaulDebt, Balance Sheets and Original ThinkingInside and outside at the same time. That is the key.Richard KooTHIS IS NOT INVESTMENT ADVICE. INVESTING IS RISKY AND OFTEN PAINFUL. DO YOUR OWN RESEARCH.I read Richard Koo’s books years before I spoke to him, a conversation I share here. Richard is the first person I know to provide a comprehensive diagnosis for something evident across much of the world—weak borrowing. While many people have the capacity to borrow money, most don’t. Explaining this phenomenon is interesting in two respects. First, the propensity of the pr...2024-10-1150 min
A Conversation with PaulBehind Washington's China PivotThis is a free preview of a paid episode. To hear more, visit paulpodolsky.substack.comChina’s splendid isolation nurtured a particular Chinese self-perception. Chinese elites grew accustomed to the notion that China was unique—not just ‘a great civilization’ among others, but civilization itself.On China, Kissinger, 20112024-07-1522 min
A Conversation with PaulA Macroeconomic Internet "Bakery"This is a free preview of a paid episode. To hear more, visit paulpodolsky.substack.comOops…looks like I didn’t send out the link to the actual podcast. Sorry about that. Here you go!We know the internet is simultaneously a recent invention, integrated into every niche of our lives, and difficult to understand fully. I like to anchor theoretical questions—how does the internet actually work?—in specific case studies. Today’s podcast guest, Lev Borodovsky, creator of The Daily Shot, is one of them.Lev has created a daily em...2024-07-0116 min
A Conversation with PaulDisrupting Health CareNote to readers: I am offering a sale this week. I started these posts as an experiment three years ago. They have now grown into a conversation with thousands of unpaid subscribers and hundreds of paid ones. I am grateful for each subscription. A service that started at $75 now costs $700 a year. If I could offer a sliding scale based on need, I would. But I can’t. So this week, I am lowering the price to $500 a year, or $1.36 a day. Also, I’m at an investment conference this week and won’t be publishing on Friday. Mari...2024-06-191h 03
A Conversation with PaulScanning for the Next WarThis is a free preview of a paid episode. To hear more, visit paulpodolsky.substack.comSummary:* Keep an eye on Serbia.* No US easing.More below:Over the weekend, the hard-right made gains in European Parliamentary voting. Last week, Senator Tuberville (R. Alabama) said Putin “doesn’t want Ukraine.” That extreme rightwing leaders are gaining even while we can see what the hard right looks like—Putin invading Ukraine—tells you something odd is afoot. If I had to reduce the rise of the hard right to one cau...2024-06-1017 min
A Conversation with PaulWhat It Takes To Make A MovieThis is a free preview of a paid episode. To hear more, visit paulpodolsky.substack.comMan has always asked the question: what is it all about?J. Krishnamurti, 1969Stories are intrinsic to being human, a survival mechanism. Some forms of story—poetry—can be created virtually for free and others—movie making—cost millions of dollars. But just because we need something, doesn’t mean it’s easy money.What’s a good business? Monopolies (toll bridges), massive economies of scale (big tech), products people are addicted to (cigarettes), and services you a...2024-06-0416 min
A Conversation with PaulAn Entrepreneur's PathThis is a free preview of a paid episode. To hear more, visit paulpodolsky.substack.com“In spite of all the farmer’s work and worry, he can’t reach down to where the seed is slowly transmuted into summer. The earth bestows.”Rainer Maria Rilke, 1875-1926The difference between the Soviet Union and the United States is the former repelled people and the latter attracted (and continues to attract) them. That’s true despite the US’s many flaws. The attraction is related to an idea that is abstract until you lose it—freedom...2024-05-2217 min
A Conversation with PaulOf Sanctions and ShippingThis is a free preview of a paid episode. To hear more, visit paulpodolsky.substack.comWe hear about sanctions all the time. Biden just put more on China.Do they matter? If so, in what way?J provides a framework to help us all understand. This is J’s second appearance. In our conversation last year, here, you can hear J’s background and how he created his shipping advisory service, Value Investor’s Edge.He is the perfect guy to discuss s…2024-05-1608 min
The Clockwork CIOIn conversation with Paul Podolsky, Founder, Kate CapitalIn conversation with Paul Podolsky, Founder, Kate Capital2024-05-0259 min
A Conversation with PaulThe Spy Writing About Spies - David McCloskeySend us a Text Message.David is former CIA and the author of Damascus Station and Moscow X.Talking Trading - Expert trading tactics so you can excel in the sharemarket.This is how traders and investors excel.Listen on: Apple Podcasts SpotifySupport the Show. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit paulpodolsky.substack.com2024-04-2057 min
The Market HuddleMH+ Ep.35 The Uncomfortable Truth About Money (guest: Paul Podolsky)On this weeks Huddle +, Kevin welcomes back to the show, author of Raising A Thief, Paul Podolsky. They discuss Paul’s view on the FED and whether they’re politically motivated, the upcoming US election and the effects it could have on markets.
Follow Paul on X: @Paul_Podolsky
Check out Paul’s Substack: www.paulpodolsky.com
*Got questions for Kevin and Patrick? Submit your questions to: nostupidquestions@markethuddle.com
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A Conversation with PaulMaking Sense of Tech - Barton Hooper, Director of Equity Research at Weitz InvestmentsSend us a Text Message.Barton is trained as an accountant and equity investor. We all know how much tech is driving the stock market. He sheds light on how to make sense of what is going on. Talking Trading - Expert trading tactics so you can excel in the sharemarket.This is how traders and investors excel.Listen on: Apple Podcasts SpotifySupport the Show. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit pa...2024-03-2832 min
A Conversation with PaulUpdate on the US Congress with Congressman Jim HimesSend us a Text Message.Jim returns to the show to share his perspective on Ukraine, the border and the November election. Talking Trading - Expert trading tactics so you can excel in the sharemarket.This is how traders and investors excel.Listen on: Apple Podcasts SpotifySupport the Show. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit paulpodolsky.substack.com2024-02-2933 min
A Conversation with PaulChina Economic Update with Jason BedfordSend us a Text Message.Jason is an accountant, fluent Chinese speaker and Wall Street veteran. I always learn from my talks with Jason and I think you will too. Talking Trading - Expert trading tactics so you can excel in the sharemarket.This is how traders and investors excel.Listen on: Apple Podcasts SpotifySupport the Show. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit paulpodolsky.substack.com2024-02-0936 min
A Conversation with PaulLosing a Child - Ivan MaiselSend us a Text Message.Ivan is a renowned college sports journalist and the father of three, one of whom took his own life. It's a terrifying story and one we all need to hear. Talking Trading - Expert trading tactics so you can excel in the sharemarket.This is how traders and investors excel.Listen on: Apple Podcasts SpotifySupport the Show. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit paulpodolsky.substack.com2024-01-1831 min
Insightful Investor#2 Paul Podolsky: Markets, GeopoliticsPaul Podolsky, a prolific writer and investor, founded Still Press Media and Kate Capital. With 15 years as Senior Portfolio Strategist at Bridgewater, the world's largest hedge fund, he possesses a depth of expertise. Paul shares unique insights on investment philosophies, markets, and geopolitics.2024-01-0958 min
A Conversation with PaulGrain - Ancient Trade Pathways with Scott NelsonSend us a Text Message.Scott Nelson is the Georgia Athletic Association Professor of History at the University of Georgia and an expert in the history of commodities. In this podcast he shares the history of grain and the impact on Ukraine, global commerce and Russia.Talking Trading - Expert trading tactics so you can excel in the sharemarket.This is how traders and investors excel.Listen on: Apple Podcasts SpotifySupport the Show. This is a public episode. If you would like to discuss this with other s...2023-12-3138 min
A Conversation with PaulPage Fortna - Why Wars Begin and How They EndSend us a Text Message.Page is the Director of the Saltzman Institute of War and Peace Studies andHarold Brown Professor of US National and Security Policy at Columbia University. She is an expert in how wars begin and end.Talking Trading - Expert trading tactics so you can excel in the sharemarket.This is how traders and investors excel.Listen on: Apple Podcasts SpotifySupport the Show. This is a public episode. If you would like to discuss this with other subscribers or get access t...2023-12-0744 min
A Conversation with PaulRemy Munasifi - Comedian and YouTube StarSend us a Text Message.Remy is a comedian and YouTube star. His father emigrated from Iraq and his mother from Lebanon and some of his humor is Arab-centric. Talking Trading - Expert trading tactics so you can excel in the sharemarket.This is how traders and investors excel.Listen on: Apple Podcasts SpotifySupport the Show. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit paulpodolsky.substack.com2023-11-2132 min
A Conversation with PaulChina Under Xi Jinping - MIT Prof. Yasheng HuangSend us a Text Message.Yasheng is the author of The Rise and Fall of the East, How Exams, Autocracy, Stability and Technology brought China Success, and Why They Might Lead to Its Decline. He is a professor at MIT's Sloan School of Management. Talking Trading - Expert trading tactics so you can excel in the sharemarket.This is how traders and investors excel.Listen on: Apple Podcasts SpotifySupport the Show. This is a public episode. If you would like to discuss this with other subscribers or ge...2023-10-271h 04
A Conversation with PaulYascha Mounk - Author of The Identity TrapSend us a Text Message.Yashca is a professor at Johns Hopkins and founder of the digital magazine Persuasion. Talking Trading - Expert trading tactics so you can excel in the sharemarket.This is how traders and investors excel.Listen on: Apple Podcasts SpotifySupport the Show. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit paulpodolsky.substack.com2023-10-1143 min
A Conversation with PaulBill Gifford - Co-Author (with Dr. Peter Attia) of Outlive on How to Live a Long, Healthy LifeSend us a Text Message.Bill is the author of several books. His most recent is a joint-effort with renowned doctor Peter Attia on how to increase your odds of not getting heart disease, dementia, diabetes or cancer or, in short, how to live well. Talking Trading - Expert trading tactics so you can excel in the sharemarket.This is how traders and investors excel.Listen on: Apple Podcasts SpotifySupport the Show. This is a public episode. If you would like to discuss this with other subscribers or...2023-09-281h 04
A Conversation with PaulSpencer Glendon - Climate Change Expert, Founder Probable FuturesSend us a Text Message.Spencer founded Probable Futures to help us all become climate change literate. Before that he was Director of Investment Research at Wellington Management. He holds a PhD from Harvard. Talking Trading - Expert trading tactics so you can excel in the sharemarket.This is how traders and investors excel.Listen on: Apple Podcasts SpotifySupport the Show. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit paulpodolsky.substack.com2023-09-141h 02
A Conversation with PaulLeonid - On Ukraine's Front LineSend us a Text Message.Leonid is a drone operator on Ukraine's front lines. This conversation is a bit "salty" so if that's jarring, don't listen. Talking Trading - Expert trading tactics so you can excel in the sharemarket.This is how traders and investors excel.Listen on: Apple Podcasts SpotifySupport the Show. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit paulpodolsky.substack.com2023-08-3138 min
A Conversation with PaulFaye Keegan - Dipsea Co-Founder, Erotica ExpertSend us a Text Message.Faye is the co-founder of Dipsea, which produces "short and sexy" audio stories designed by and targeted to women. She talks about finding her path, erotica and what makes a good story. Talking Trading - Expert trading tactics so you can excel in the sharemarket.This is how traders and investors excel.Listen on: Apple Podcasts SpotifySupport the Show. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit paulpodolsky.su...2023-07-0352 min
A Conversation with PaulFrancisco Toro - Hipster Dictators and the Risk To DemocracySend us a Text Message.Francisco was born in Venezuela and later watched that country's Democracy implode. He is now a journalist, a contributing editor to Persuasion and an expert on both Latin America and populism. Talking Trading - Expert trading tactics so you can excel in the sharemarket.This is how traders and investors excel.Listen on: Apple Podcasts SpotifySupport the Show. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit paulpodolsky.substack.co2023-06-1540 min
The Wall Street Skinny11. Hedge Funds 101: Feat. Paul PodolskySend us a textIn this episode, we explore the world of hedge funds with Paul Podolsky, who spent 16 years at Bridgewater (the world's largest hedge fund) before launching a writing, publishing, and podcasting career. We ask: how did hedge funds evolve, and how are they different from traditional asset managers? What are the different types of hedge funds? How do they raise and deploy capital? What are the entry and exit opportunities? And...what does it truly mean to be a "pain sponge?"Paul Podolsky spent 20+ years on Wall Street with most of that time...2023-06-031h 00