Walter Todd

speaker

198 appearances 2 recordings 1 series first heard Jun 2026 last heard 30 Jul

Walter Todd’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 2 in all, peaking in Jul 2026 with 1.

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Business Daily · Taking stock: China gains in the AI race · 30 Jul 2026 podcast

I'm not there yet.

Tangentially, yes.

I think this is the theme.

I did the villain last time, so I'll try again.

You play it well.

Thank you.

To me, these single stock levered ETF instruments are the villain.

Let's explain that for people.

Basically, it's a security that allows an individual or institution to buy that security and basically have a 2X or 3X leveraged position in a single stock like SK Honex or Samsung.

There's also ones available in the US, but specifically one of the reasons that South Korea

did so well in the first half was because everybody was buying these leveraged ETFs on the way up, but leverage cuts both ways.

So on the way down, it's really accelerating the downdraft that you're seeing in South Korea and other markets because there's kind of a spillover effect as Asia opens and trades and that spills over into the U.S.

And we're kind of seeing this invirtuous or vicious negative cycle because of those

And it's kind of the analogy I would say is like giving your teenage driver an F1 Formula car and saying, have fun.

They're not ready for that.

And this is like giving retail investors these levered ETFs.

um not as much i mean if you look at that focus on that 15 to 24 cohort which i think is what we're talking about here the the rate here in the us is about nine percent which is still way above a general unemployment unemployment rate is around four just over four percent so big spread there but it's not too out of whack with history to be honest with you but you are hearing more stories about people graduating from college so a little bit older of the on that spectrum

and having a lot of debt associated with that education.

And even if they find a job, they're underemployed in that situation.

So I think it might be a bigger problem outside the U.S., but it's certainly something that you're seeing in the news more often as AI concerns can't get away from AI about taking some of these jobs that were starter positions for a lot of kids historically.

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