Matt Levine

speaker

143 appearances 1 recordings 1 series first heard Dec 2024 last heard Dec 2024

Matt Levine’s voice in public audio — every appearance, attributed to the second.

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Appearances

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Odd Lots · Odd Lots Talks Beak Capitalism on Money Stuff Talking Chicken · 27 Dec 2024 podcast

No, no, I honestly shouldn't. voice-verified

It's too good to be true. voice-verified

So voice-verified

like including on podcasts and I think on like the Bridgewater website. voice-verified

When he was working on Wall Street before he started Bridgewater, he was like doing commodities stuff and one of his clients was McDonalds. voice-verified

And McDonalds were I think this is like according to your history, like this is a few years after they had like introduced the chicken McNugget, but before they rolled it out nationally. voice-verified

And they were worried voice-verified

Apparently about voice-verified

volatility of chicken prices because they're like, well, we can't put chicken nuggets on the menu if the price is going to go up and down because you have to pull it off the menu or raise the prices, it would be terrible. voice-verified

We need to take the volatility out of chicken prices. voice-verified

And they came to Ray Dalio allegedly and they're like, can you sell us as one does hedge? voice-verified

And Ray Dalio is like, wow, there's not like a liquid chicken market at the time. voice-verified

This is, I think, from the um the bridge voice-verified

Water website. voice-verified

He argued that since a full grown chicken was nothing more than a baby chick plus corn and soy meal, the price of the grains were the volatile costs, and they could hedge corn and soybean prices. voice-verified

Oh that's a shit. voice-verified

Oh that's interesting. voice-verified

And they could uh and so he sold McDonald's a bunch of corn and soybean derivatives and they were able to roll out the chicken and McNuggets. voice-verified

Support and symmetry. voice-verified

McDonald's did not invent the chicken nugget, but Ray Dalio shepherded the chicken McNugget as a menu item into the voice-verified

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