Podcast appearances and mentions of richard sylla

Derek Moore and Jay Pestrichelli, CEO of ZEGA Financial review some interesting VIX option trades around the election and around inauguration day in 2025 compared to the next few months options action. When young people say home ownership dreams are dead is that true? Surprising numbers to compare inflation adjusted costs. Plus, on Friday the market swung from down over 1% to up almost 1% as we continue to be in a buy the dip regime. Later discussing the evolving Fed rate cut expectations and why it shouldn't be a surprise. Finally, they go bring up container shipping costs rising again and what that means for inflation, the Presidential election market cycle, history of interest rates, and more.   Looking at VIX trades far out of the money around election and inauguration day Are retail investors making bets on a rise in volatility due to the election? Why trading VIX options can be frustrating and may be misused by retail traders Home ownership dreams dead for young people? Comparing a monthly mortgage payment today on an inflation adjusted basis to historical Home prices compared on an inflation adjusted basis History of interest rates over 5000 years Container shipping costs on the rise Share buybacks at highest level over the last couple years and what that means for earnings Friday's huge market reversal going from down to up in the last hour Fed rate cut expectations through the end of 2024 down from 7 cuts to 1 cut 4th year of the Presidential cycle and the S&P 500 Index What Shiller Cape ratio means for returns over the next 10 years Cape PE ration and Price to Free Cash Flow   Mentioned in this Episode   History of Interest Rates book by Sidney Homer and Richard Sylla https://amzn.to/3V3TNEJ   Derek Moore's book Broken Pie Chart https://amzn.to/3S8ADNT   Jay Pestrichelli's book Buy and Hedge https://amzn.to/3jQYgMt Derek's new book on public speaking Effortless Public Speaking https://amzn.to/3hL1Mag     Contact Derek derek.moore@zegafinancial.com   www.zegafinancial.com

Interview recorded - 5th of July, 2023On this episode of the WTFinance podcast I had the pleasure of speaking with Richard Sylla, Professor Emeritus of Economics and finance historian.During our conversation we spoke about whether the system can handle rising interest rates with the high debt levels, if this would require depreciation of the currency, whether financialisation is a bad thing and more!0:00 - Introduction1:23 - How can we compare recent economics to the past?5:05 - Can the system handle increasing interest rates with high debt?8:45 - Depreciation of currency10:30 - Where would economic growth come from?11:45 - Have emerging markets taken growth away from developed markets the past decades?15:32 - How can central banks overcome inflation?19:35 - Will the FED push the economy into a recession?22:10 - Unemployment remaining strong24:20 - Have interest rates ever increased so much without a recession?25:55 - What is real interest rate?29:03 - Is financialisaton a bad thing?31:35 - Japanification 34:10 - Are central banks kicking our problems down the road?37:50 - Looking at the long term42:00 - One message to take away from our conversation? Richard Sylla is a Professor Emeritus of Economics and the former Henry Kaufman Professor of the History of Financial Institutions and Markets at New York University Stern School of Business. He teaches courses in financial history, economic and business history of the United States, and comparative enterprise systems.Professor Sylla has been with NYU Stern since 1990. His primary areas of research include historical studies of money, banking, and finance. He is the author of several books, including The American Capital Market and A History of Interest Rates. His writing has appeared in numerous publications, including the Journal of Economic History, Explorations in Economic History, Business History Review, and Enterprise & Society. He is also on the editorial board of many journals that include the Financial History Review, Enterprise and Society, and Economic and Financial History Abstracts. Professor Sylla has also been the recipient of several awards and grants including National Science Foundation grants, an Alfred P. Sloan Foundation grant and the Citibank Award for Excellence in Teaching at the Stern School. He served as President of the Economic History Association and the Business History Conference, and is currently the Chairman of the Museum of American Finance. He is a Fellow of the Cliometric Society and the American Academy of Arts and Sciences.Prior to joining Stern, Professor Sylla taught at North Carolina State and the University of Pennsylvania among others. Professor Sylla received his bachelor of arts from Harvard University before studying at the Indian Statistical Institute at Calcutta. He then received both his master of arts and his doctorate of philosophy from Harvard University.Richard Sylla - Website - https://www.stern.nyu.edu/faculty/bio/richard-syllaResearch - https://www.nber.org/people/richard_sylla?page=1&perPage=50WTFinance - Instagram - https://www.instagram.com/wtfinancee/Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfniTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4Twitter - https://twitter.com/AnthonyFatseas

On todays episode of Forward Guidance, Professor Emeritus of Economics at Leonard N. Stern School of Business, author and financial historian Dr. Richard Sylla joins the show for a discussion on one of his most widely studied areas... interest rates. After authoring "A History of Interest Rates", a book which examined over four millennia of interest rates trhoughout periods of inflation, financial crises' and recessions, there's no one better equipped to discuss the Fed's current tightening cycle and how it impacted banks such as SVB in the Fed's current quest to fight inflation. Just how severe is this current tightening cycle when compared to other times in history? According to Dr. Sylla, this is nothing new as "history doesn't repeat, but it often rhymes". To hear all this and more, you'll have to tune in! -- Follow Jack Farley on Twitter https://twitter.com/JackFarley96 Follow Forward Guidance on Twitter https://twitter.com/ForwardGuidance Follow Blockworks on Twitter https://twitter.com/Blockworks_ -- Referenced In The Show: A History of Interest Rates: https://www.amazon.co.uk/History-Interest-Rates-Wiley-Finance/dp/0471732834 Alexander Hamilton on Finance, Credit, and Debt: https://www.amazon.com/Alexander-Hamilton-Finance-Credit-Debt/dp/0231184565 Alexander Hamilton, Central Banker: Crisis Management During the U.S Financial Panic of 1792: https://w4.stern.nyu.edu/research/alexander_hamilton_central_banker.pdf -- Use code GUIDANCE10 to get 10% off Permissionless 2023 in Austin: https://blockworks.co/event/permissio... Research, news, data, governance and models – now, all in one place. As a listener of Forward Guidance, you can use code GUIDANCE10 for a 10% discount when signing up to Blockworks Research https://www.blockworksresearch.com/ -- Timestamps: (00:00) Introduction (00:39) A Return To Normalcy For Interest Rates (05:10) How Interest Rate Rises Led To SVB's Collapse (09:24) The First Bank of The United States (13:36) Paul Volcker's Historic Interest Rate Rises (20:35) Why We Have Inflation Now... But Not Post 2008 (28:03) Permissionless (29:06) The Fed's Between A Rock & A Hard Place (32:03) The Savings & Loan Crisis (37:41) All Signs Point Towards A Recession (44:59) Blockworks Research (45:59) What An Inverted Yield Curve Really Indicates (48:49) A Banking Panic Solution, Through The Eyes of Alexander Hamilton (57:03) How ZIRP Caused Problems In The Financial System -- Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

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Tarek El Diwany's book “The Problem with Interest” has attracted attention from scholars of Islamic finance and bitcoiners alike, including Allen Farrington, whose newly published book, Bitcoin Is Venice, draws heavily on Tarek's work. In this episode, Saifedean hosts Tarek and Allen to talk about the morality of lending with interest, why the practice is prohibited in Islam, and how an economy would function without interest rates. They discuss how monetary systems that require the creation of ever more debt impact human time preference, capital accumulation and morality, and whether interest would emerge in a free market monetary system like bitcoin?ResourcesTarek's book The Problem with InterestKreatoc Zest's website.Saifedean's podcast episodes on Islamic finance with Safdar Alam and Harris Irfan. Article on William Cobbett's opposition to suspension of the gold standard during the Napoleonic Wars.Selected Writings on Economics by Nassau Senior.See Plato's Laws, Book 5 and Aristotle's Politics, Book I, 10, no. 5 for Ancient Greek views on usury.A History of Interest Rates by Sidney Homer and Richard Sylla.Allen Farrington's book Bitcoin is Venice on Amazon.Saifedean's podcast episode Allen Farrington's adventures with Fiat Intellectuals.Saifedean's podcast episode Bitcoin Strategy with Michael Saylor.Saifedean's first book, The Bitcoin StandardSaifedean's second book, The Fiat StandardEnjoyed this episode? You can take part in podcast seminars, access Saifedean's courses – including his new course ECO22: The Fiat Standard – and read chapters of his forthcoming books by becoming a Saifedean.com member. Find out more here.

We cover the campaign to take Gibraltar and hold it 1704-5, including the great sea battle of Malaga. We cover the war in North America, the breaking of Spanish power and the confused picture in Nova Scotia, where after the peace none of the participants understand the consequences of the peace the same way.   And the introduction of paper money as legal tender in the colonies as an accidental innovation to cope with the wars.We cover the peace and its a few of its consequences.  There will be many episodes on the consequences of this peace to come.   One is making London the center of European finance.With Camie we cover the global aspect of the war,  review the scale of naval warfare, the horrid conditions of the siege of Gibraltar, paper currency, the leading impact of capital markets on economic growth from Richard Sylla, and the ending of the slave trade.

Dr. Richard Sylla, professor emeritus at New York University's Stern School of Business, joins our CEO Todd Gibbons for a conversation on BNY Mellon's founding in 1784, and how the firm's history intersected with the founding of the United States.

Jun 18 – Ryan Puplava gives this week's market wrap-up. Dan Wantrobski gives listeners his longer-term view on equities and, lastly, Jim Puplava welcomes Richard Sylla before rounding off today's... Subscribe to our premium weekday podcasts: https://www.financialsense.com/subscribe

L'Américain Jaime Rogozinski, fondateur du forum WallStreetBets, est sorti de l’ombre la semaine dernière lorsqu’une armée de boursicoteurs soudés sur son forum se sont jetés sur les actions de GameStop, la chaîne de magasins de jeux vidéo en difficulté, entre autres, créant un vent  de panique dans les milieux d’affaires. Ces petits investisseurs se sont transformés en justiciers contre Wall Street et les gros fonds de spéculation qui pariaient sur le déclin de leur vendeur de jeux vidéo préféré. Résultat, le titre de GameStop s’est envolé la semaine dernière avant de s’effondrer.  « Je n’imaginais pas un seul instant que les choses puissent prendre une telle ampleur, maintenant et si vite, confiait Jaime Rogozinski sur CNN.. J’ai réalisé quand j’ai entendu la Maison Blanche s’exprimer sur la question. Je ne m’attendais vraiment pas à cela. » Fils d’un économiste et fonctionnaire mexicain, Jaime Rogozinski s’est lui aussi formé en économie aux États-Unis. Aujourd’hui, ce père de famille de 39 ans, est consultant à Mexico où il habite. « Je ne le connaissais pas avant ces récents événements, nous raconte Richard Sylla, professeur émérite d’économie à la Stern School of Business de l’université de New-York. Il a fondé son forum WallStreetBets en 2012, donc ce n’est pas nouveau. Il travaillait alors à la Banque de développement interaméricaine, à Washington, DC. Il voulait que les petits investisseurs puissent communiquer entre eux et échanger les informations financières auxquelles ils n’ont pas accès, parce qu’elles sont coûteuses. L’intention était bonne et les gens le voient comme cela, comme un entrepreneur, un innovateur qui voulait rendre service. Il ne pouvait pas prévoir il y a huit ans que les frais de transaction seraient de zéro aujourd’hui ! C’est ce qui a rendu la spéculation si attractive ! À un moment donné, la réputation du forum s’est dégradée. Le langage y est devenu vulgaire, des menaces y sont proférées. C’est devenu incontrôlable et il ne s’en s’occupe plus depuis l’année dernière. » De très loin donc, Jaime Rogozinski a vu WallStreetBets, WSB pour les initiés, hébergé par le site web Reddit, passer de deux millions d’utilisateurs la semaine dernière à plus de 8 millions et demi aujourd’hui. Une manne financière pour son fondateur ? « Oui bien évidemment, pour Jean-François Bay, directeur général de Quantalys, plateforme d’analyse de produits financiers. Les plateformes comme WallStreetBets, Robinhood etc, gagnent le l’argent en volume et en nombre de boursicoteurs. C’est un peu comme les réseaux sociaux. Vous ne payez pas Facebook, mais le fait d’agréger énormément de "followers" et de visiteurs fait que vous avez une plateforme qui devient très visible et donc potentiellement génératrice de revenus parce que vous allez avoir de la publicité, des liens avec d’autres brokers, des compagnies d’assurance, des sociétés de gestion, etc. » Quand il ne travaille pas comme consultant, Jaime Rogozinski écrit. Il est l'auteur d’un livre intitulé How Boomers Made The World’s Biggest Casino for Millennials, qui peut être traduit ainsi « Comment les boomers ont créé le plus gros casino du monde pour les Millennials ». Un ouvrage publié juste avant que la pandémie de coronavirus n’éclate aux États-Unis. Une situation qui explique aussi cette frénésie spéculative, poursuit Jean-François Bay. « Les Américains se retrouvent globalement sur l’année 2020 avec 1 500 milliards de surplus d’épargne. Ils sont en télétravail. Ils ont du temps. Ils se rendent compte que le marché financier s’est disloqué en avril. Ils veulent donc très rapidement profiter de cette aubaine pour déployer et investir ces capitaux sur les marchés financiers. En plus aux États-Unis il y a un phénomène d’"helicopter money", c’est-à-dire que le gouvernement distribue des chèques et donc le particulier moyen, qui n’a pas forcément la culture pour épargner, pense qu’il peut faire du trading, devenir trader professionnel en deux jours et faire des coups de poker. » Et à ce jeu, de nombreux boursicoteurs ont perdu beaucoup d’argent. Jaime Rogozinski le reconnait lui-même : il faut spéculer avec prudence.

In this episode, Prof. Richard Sylla talks us through the process of building up a currency union in the U.S. following independence in 1776. We also consider the key ingredients for a successful "financial revolution", drawing on international examples from economic history. In addition, the relationship between modern financial systems and subsequent economic growth is discussed with reference to Sylla's own work. 

Jan 1 – Jim Puplava discusses the outlook for inflation with Richard Sylla, Professor Emeritus of Economics at NYU Stern and the co-author of A History of Interest Rates. Richard and Jim discuss the... Subscribe to our premium weekday podcasts: https://www.financialsense.com/subscribe

The impact of past pandemics on the U.S. economy and markets has important lessons for today says financial historian Richard Sylla, as does the record growth in both monetary and fiscal stimulus. More info: https://wealthtrack.com/the-financial-impact-of-past-pandemics-has-important-lessons-for-today-says-historian-richard-sylla/ Reading List: “Pandemics and Epidemics: Financial and Economic Effects” : https://www.moaf.org/publications-collections/financial-history-magazine/133/_res/id=Attachments/index=0/Pandemics%20and%20Epidemics.pdf Alexander Hamilton on Finance, Credit, and Debt: https://amzn.to/3dzvrfh Alexander Hamilton: The Illustrated Biography: https://amzn.to/3cwM7mh A History of Interest Rates: https://amzn.to/3dtnJ6e --- Support this podcast: https://anchor.fm/wealthtrack/support

Our guest on the podcast this week is Charles de Vaulx. De Vaulx is chief investment officer and portfolio manager at International Value Advisers, where he is also a partner. With his colleague Chuck de Lardemelle, de Vaulx manages the IVA International and IVA Worldwide strategies. Before joining IVA in 2008, de Vaulx had been the portfolio manager of First Eagle Global, First Eagle Overseas, First Eagle U.S. Value, and First Eagle Variable. For his accomplishments, Morningstar has recognized de Vaulx several times in the past, awarding him and his comanager our International-Stock Manager of the Year Award in 2001 and nominating them for the same award in 2006. De Vaulx began his career at Societe Generale Bank as a credit analyst in 1985. He graduated from the Ecole Superieure de Commerce de Rouen and holds the French equivalent of a master's degree in finance.BackgroundCharles de Vaulx bioCharles de Lardemelle bioIVA Worldwide IVWIX IVA International IVIOX ReferencesModern monetary theory (MMT) definitionHerfindahl-Hirschman Index (HHI) definitionCreative destruction definitionA History of Interest Rates, by Sidney Homer and Richard Sylla; 2007"The Irresistible Charm of the Family Factor," by Credit Suisse, Sept. 27, 2017Jean-Marie Eveillard bio"The Superinvestors of Graham-and -Doddsville," by Warren Buffett, Columbia Business School, May 17, 1984Berkshire Hathaway 2013 shareholder letter, Page 20Edward O. Thorp bioSuperforecasting: The Art and Science of Prediction, by Philip E. Tetlock and Dan Gardner, 2016

McAlvany Weekly Commentary Richard Sylla is a Professor Emeritus of Economics and the former Henry Kaufman Professor of the History of Financial Institutions and Markets at New York University Stern School of Business. He teaches courses in financial history, economic and business history of the United States, and comparative enterprise systems. Today he joins the commentary to discuss: […] The post Richard Sylla: The Economics Of Time appeared first on McAlvany Weekly Commentary.

Today’s conversation is with international value investor, Jean-Marie Eveillard. As portfolio manager of the Société Générale International Fund, later becoming the First Eagle Global Fund, where he returned an annualized 15% for over 25 years. In 2001, Jean-Marie and co-manager Charles de Vaulx were named Morningstar International Stock Fund Managers of the Year and later in 2003, Jean-Marie was chosen as one of the two inaugural awardees of the Morningstar Fund Manager Lifetime Achievement Award. Shortly after starting as an analyst with Société Générale, Jean-Marie became exposed to Ben Graham and the principles of value investing. Despite his passion and insights, it was many years before he was given the position of portfolio manager and finally able to put those principles to work. During his tenure as portfolio manager, Jean-Marie has been at the helm during some of the most challenging times for value investors. His ability to adapt his investment approach to the changing conditions has been key in his ability to produce above average results.  On this episode, Jean-Marie and I talk about his changing roles over his years at Société Générale and then First Eagle, why he was so intrigued by Ben Grahams and Warren Buffet’s investment approaches, the lessons he learned about client management while his fund was underperforming compared to market, and so much more!   Key Topics: How one good course experience started Jean-Marie on the path to a career in the investment world (2:32) Jean-Marie’s role at Société Générale’s New York branch (5:45) Jean-Marie’s first introduction to Ben Graham (6:44) Why Ben Graham’s writings on investing helped Jean-Marie find his own investment approach (7:07) The changing perspectives on frameworks in academic finance in the 1970s (8:45) Jean-Marie’s disappointing return to the Société Générale head office in Paris (12:11) How Jean-Marie finally got the opportunity to manage a fund himself (14:25) The process Jean-Marie used to identify and value potential investments when he took over his first fund (17:54) Why the 1970s and 1980s were particularly good periods to take a traditional value investing approach (19:59) The differences between the traditional Ben Graham approach and the Munger-Buffet approach (21:42) Why Jean-Marie prefers the Munger-Buffet approach to value investing (22:21) The lesson Jean-Marie learned after buying Lindt & Sprüngli stock (23:39) One of the drawbacks with holding overvalued stocks under the Munger-Buffet approach (26:59) Why humility is important for a successful money management career (28:50) The client management mistake Jean-Marie made in the late 1990s (31:49) The growth of the First Eagle Global Fund from $15 million to $6 billion between 1987 and 1997 (32:42) Jean-Marie’s perspective on investing in tech stocks (35:56) The impact of the bursting of the NASDAQ on the fund (40:06) Why Jean-Marie’s move to advisor of the fund was so short-lived (41:22) How the fund benefitted from its holdings in the Bank for International Settlements (42:40) Why Jean-Marie believes that value investors should pay closer attention to the macro-economic environment (47:31) The challenges posed to balance sheet-focused investors by the growth of the service-based economy (52:22) Why Jean-Marie’s first step in assessing a company is to closely review the accounting numbers (55:37) The changing future of value investing (58:17) And much more!   Mentioned in this Episode:  Jean-Marie Eveillard’s Book | Value Investing Makes Sense First Eagle Investment Management First Eagle Global Fund Benjamin Graham and David L. Dodd’s Book | Security Analysis Benjamin Graham’s Book | The Intelligent Investor William White’s April 2006 Paper | Is Price Stability Enough? Sidney Homer and Richard Sylla’s Book | A History of Interest Rates   Thanks for Listening! Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at valueinvesting@gsb.columbia.edu. Follow the Heilbrunn Center on social media on Instagram, LinkedIn, and more!

In one of my favorite interviews, historian Dr. Richard Sylla joined me to discuss his biography of the influential Alexander Hamilton and shared many insights into Hamilton's life and legacy. We had a bit of fun as we learned some important history. Interestingly, we conducted this interview just days before Mike Pence famous attendance at the Hamilton Musical.

Bloomberg Opinion columnist Barry Ritholtz interviews Richard Sylla, professor emeritus of economics at New York University's Stern School of Business. Sylla is the author or co-author of several books, including “A History of Interest Rates.” He notes that rates in recent years are “the lowest in history, from the Code of Hammurabi to Babylon Civilization, Greek and Roman Civilization, the Middle Ages, Renaissance, right up until the present.” 

(Bloomberg) -- What better way to prepare for what may be the first U.S. rate hike in almost a decade than to tour 6,000 years of interest-rate history? This week, Joe and Tracy speak with NYU Stern finance professor Richard Sylla, co-author of A History of U.S. Interest Rates. We start in Babylonia, where Hammurabi codified the relationship between debtors and creditors, and end with zero percent interest rates in the U.S. in the 21st century. Along the way, we journey to the Roman city that pledged its public colonnades as collateral, learn why medieval French princes had such terrible credit histories and figure out why today's negative interest rates in parts of Europe really are a historical oddity. In other words, Odd Lots read a 700-page book on interest rates so you don't have to. (No, really, you should read it. It's a great book).