Patrick Boyle en Patrick Boyle is a hedge fund manager, a university professor and a former investment banker. This channel is all about quantitative finance. By subscribing you will see videos explaining what is happening in markets right now, you will learn about financial derivatives, corporate finance and how traders use quantitative tools like statistics. You will see interviews with some of the most interesting people in the financial industry. In addition, you will see some longer form documentaries on the history of financial markets.To contact Patrick go to the website http://onfinance.orgDISCLAIMER:This channel is not affiliated with any financial institution. The videos on this channel are for entertainment purposes only and do not constitute financial advice. Those seeking investment advice should seek out a registered professional. Patrick is not responsible for investment actions taken by viewers and his content should not be used as a basis for investment.Links:Amazon Author Page: https://amzn.to/3bTeqedPatreon: https://www.patreon.com/PatrickBoyleOnFinanceWebsite: https://www.onfinance.org/Instagram: https://www.instagram.com/patrickeboyle/BlueSky: https://bsky.app/profile/pboyle.bsky.social https://megaphone.imgix.net/podcasts/2f5de450-a43d-11f1-ba80-b3403fbcadb8/image/7d4ae393298250abaefe96cc55c12200.jpg?ixlib=rails-4.3.1&max-w=3000&max-h=3000&fit=crop&auto=format,compress Patrick Boyle no episodic Patrick Boyle Patrick Boyle is a hedge fund manager, a university professor and a former investment banker. This channel is all about quantitative finance. By subscribing you will see videos explaining what is happening in markets right now, you will learn about financial derivatives, corporate finance and how traders use quantitative tools like statistics. You will see interviews with some of the most interesting people in the financial industry. In addition, you will see some longer form documentaries on the history of financial markets.To contact Patrick go to the website http://onfinance.orgDISCLAIMER:This channel is not affiliated with any financial institution. The videos on this channel are for entertainment purposes only and do not constitute financial advice. Those seeking investment advice should seek out a registered professional. Patrick is not responsible for investment actions taken by viewers and his content should not be used as a basis for investment.Links:Amazon Author Page: https://amzn.to/3bTeqedPatreon: https://www.patreon.com/PatrickBoyleOnFinanceWebsite: https://www.onfinance.org/Instagram: https://www.instagram.com/patrickeboyle/BlueSky: https://bsky.app/profile/pboyle.bsky.social Patrick Boyle is a hedge fund manager, a university professor and a former investment banker.

This channel is all about quantitative finance. By subscribing you will see videos explaining what is happening in markets right now, you will learn about financial derivatives, corporate finance and how traders use quantitative tools like statistics. You will see interviews with some of the most interesting people in the financial industry. In addition, you will see some longer form documentaries on the history of financial markets.

To contact Patrick go to the website http://onfinance.org

DISCLAIMER:
This channel is not affiliated with any financial institution. The videos on this channel are for entertainment purposes only and do not constitute financial advice. Those seeking investment advice should seek out a registered professional. Patrick is not responsible for investment actions taken by viewers and his content should not be used as a basis for investment.

Links:
Amazon Author Page: https://amzn.to/3bTeqed
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Website: https://www.onfinance.org/
Instagram: https://www.instagram.com/patrickeboyle/
BlueSky: https://bsky.app/profile/pboyle.bsky.social

]]> Patrick Boyle lenfrfr@gmail.com This Is Probably Fine! They can't harm you, if they can't find you! Use code BOYLE at the link below and get 60% off an annual plan: https://incogni.com/boyleUS 30-year Treasury yields just hit 5.2% — the highest level since July 2007. UK gilt yields are at levels not seen since 1998. Japanese bond yields are at record highs. Something is happening in global bond markets, and it's not just about inflation.In this video I explain what's driving the global rise in long-term borrowing costs, why the era of free money is probably over, and what fiscal dominance means for central bank independence. I cover the history of US presidents fighting with the Federal Reserve — including LBJ shoving his Fed Chair against a wall — the 1970s UK economic collapse, the Liz Truss mini-budget crisis, the role of private credit and off-balance-sheet SPVs in financing the AI boom, and what all of this means for the new Federal Reserve Chair Kevin Warsh.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sun, 01 Nov 2026 09:30:00 -0000 full Patrick Boyle They can't harm you, if they can't find you! Use code BOYLE at the link below and get 60% off an annual plan: https://incogni.com/boyleUS 30-year Treasury yields just hit 5.2% — the highest level since July 2007. UK gilt yields are at levels not seen since 1998. Japanese bond yields are at record highs. Something is happening in global bond markets, and it's not just about inflation.In this video I explain what's driving the global rise in long-term borrowing costs, why the era of free money is probably over, and what fiscal dominance means for central bank independence. I cover the history of US presidents fighting with the Federal Reserve — including LBJ shoving his Fed Chair against a wall — the 1970s UK economic collapse, the Liz Truss mini-budget crisis, the role of private credit and off-balance-sheet SPVs in financing the AI boom, and what all of this means for the new Federal Reserve Chair Kevin Warsh.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices They can't harm you, if they can't find you! Use code BOYLE at the link below and get 60% off an annual plan: https://incogni.com/boyle

US 30-year Treasury yields just hit 5.2% — the highest level since July 2007. UK gilt yields are at levels not seen since 1998. Japanese bond yields are at record highs. Something is happening in global bond markets, and it's not just about inflation.

In this video I explain what's driving the global rise in long-term borrowing costs, why the era of free money is probably over, and what fiscal dominance means for central bank independence. I cover the history of US presidents fighting with the Federal Reserve — including LBJ shoving his Fed Chair against a wall — the 1970s UK economic collapse, the Liz Truss mini-budget crisis, the role of private credit and off-balance-sheet SPVs in financing the AI boom, and what all of this means for the new Federal Reserve Chair Kevin Warsh.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2418 no Washington to ban US investors from Investing in Certain Chinese companies The US Senate overwhelmingly approved new legislation on Wednesday that could lead to Chinese companies such as Alibaba Group and Baidu possibly being delisted from U.S. stock exchanges amid increasingly tense relations between the world’s two largest economies.The bill was approved by unanimous consent in the US Senate and would require companies to certify that they are not under the control of a foreign government. It would require that foreign companies listed on a US exchange be audited by the Public Company Accounting Oversight Board.If a company can’t show that it is not under government control or the Public Company Accounting Oversight Board isn’t able to audit the company for three consecutive years, the company’s securities would be removed from US exchanges.Corporate Finance Book: https://amzn.to/2WT5Jw7Visit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleThe Public Company Accounting Oversight Board or PCAOB is a little-known agency, created by the Sarbanes–Oxley Act in 2002 to oversee the audits of public companies and other securities issuers. The Sarbanes-Oxley Act required that auditors of U.S. public companies be subject to external and independent oversight for the first time in history. Previously, the profession was self-regulated.This all came about in response to the Enron accounting scandal in 2001 which brought down Arthur Andersen after it was found guilty of crimes in the firm's auditing of Enron.The Holding Foreign Companies Accountable Act, is not yet law. For this to become law, it has to be voted on by the House of Representatives and then sent to the President of the United States who can choose whether or not to sign the bill. If the President signs the bill, it becomes a law.Why is this an issue all of a sudden?There have been a number of scandals in the last short while which have raised questions about the state of Chinese accounting practices, and whether stock exchanges are doing enough to protect investors from fraud and scandal. The most notable story has been the fall of Luckin Coffee, which announced that it may have overstated sales by hundreds of millions of dollars. Nasdaq has since sent a notice to Luckin Coffee that it intends to delist the company’s ADR shares from the exchange.Around the world the models of corporate governance differ according to the variety of capitalism in the countries in which firms are incorporated. The Anglo-American model emphasizes the interests of shareholders. The multi-stakeholder model associated with Continental Europe and Japan also recognizes the interests of workers, managers, suppliers, customers, and the community. Corporate governance is of great importance economically. It is the reason that investors have faith in the capital markets and are willing to invest their savings in projects and businesses that provide jobs, economic growth, and products to the marketplace.I have a chapter in my Corporate Finance book, on corporate governance which goes through the various laws and listing requirements, particularly in the United States. There has been a general trend towards better corporate governance around the world – a trend which started after the 1929 stock market crash. In recent years, a lot of Silicon Valley companies have bucked that trend. Facebook went public a few years ago with a multiple share class structure. This enabled Founder shares to maintain 10 times the voting rights of common shareholders. Shortly after that Snap went public issuing only non-voting shares to the public. Former president Donald Trump last year issued an order banning investments in companies that the Pentagon had put on a list of groups with suspected links to the People’s Liberation Army.Companies can look around the world to find exchanges to list on, but no regulatory Learn more about your ad choices. Visit megaphone.fm/adchoices Sun, 01 Nov 2026 09:07:30 -0000 full Patrick Boyle The US Senate overwhelmingly approved new legislation on Wednesday that could lead to Chinese companies such as Alibaba Group and Baidu possibly being delisted from U.S. stock exchanges amid increasingly tense relations between the world’s two largest economies.The bill was approved by unanimous consent in the US Senate and would require companies to certify that they are not under the control of a foreign government. It would require that foreign companies listed on a US exchange be audited by the Public Company Accounting Oversight Board.If a company can’t show that it is not under government control or the Public Company Accounting Oversight Board isn’t able to audit the company for three consecutive years, the company’s securities would be removed from US exchanges.Corporate Finance Book: https://amzn.to/2WT5Jw7Visit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleThe Public Company Accounting Oversight Board or PCAOB is a little-known agency, created by the Sarbanes–Oxley Act in 2002 to oversee the audits of public companies and other securities issuers. The Sarbanes-Oxley Act required that auditors of U.S. public companies be subject to external and independent oversight for the first time in history. Previously, the profession was self-regulated.This all came about in response to the Enron accounting scandal in 2001 which brought down Arthur Andersen after it was found guilty of crimes in the firm's auditing of Enron.The Holding Foreign Companies Accountable Act, is not yet law. For this to become law, it has to be voted on by the House of Representatives and then sent to the President of the United States who can choose whether or not to sign the bill. If the President signs the bill, it becomes a law.Why is this an issue all of a sudden?There have been a number of scandals in the last short while which have raised questions about the state of Chinese accounting practices, and whether stock exchanges are doing enough to protect investors from fraud and scandal. The most notable story has been the fall of Luckin Coffee, which announced that it may have overstated sales by hundreds of millions of dollars. Nasdaq has since sent a notice to Luckin Coffee that it intends to delist the company’s ADR shares from the exchange.Around the world the models of corporate governance differ according to the variety of capitalism in the countries in which firms are incorporated. The Anglo-American model emphasizes the interests of shareholders. The multi-stakeholder model associated with Continental Europe and Japan also recognizes the interests of workers, managers, suppliers, customers, and the community. Corporate governance is of great importance economically. It is the reason that investors have faith in the capital markets and are willing to invest their savings in projects and businesses that provide jobs, economic growth, and products to the marketplace.I have a chapter in my Corporate Finance book, on corporate governance which goes through the various laws and listing requirements, particularly in the United States. There has been a general trend towards better corporate governance around the world – a trend which started after the 1929 stock market crash. In recent years, a lot of Silicon Valley companies have bucked that trend. Facebook went public a few years ago with a multiple share class structure. This enabled Founder shares to maintain 10 times the voting rights of common shareholders. Shortly after that Snap went public issuing only non-voting shares to the public. Former president Donald Trump last year issued an order banning investments in companies that the Pentagon had put on a list of groups with suspected links to the People’s Liberation Army.Companies can look around the world to find exchanges to list on, but no regulatory Learn more about your ad choices. Visit megaphone.fm/adchoices The US Senate overwhelmingly approved new legislation on Wednesday that could lead to Chinese companies such as Alibaba Group and Baidu possibly being delisted from U.S. stock exchanges amid increasingly tense relations between the world’s two largest economies.

The bill was approved by unanimous consent in the US Senate and would require companies to certify that they are not under the control of a foreign government. It would require that foreign companies listed on a US exchange be audited by the Public Company Accounting Oversight Board.

If a company can’t show that it is not under government control or the Public Company Accounting Oversight Board isn’t able to audit the company for three consecutive years, the company’s securities would be removed from US exchanges.


Corporate Finance Book: https://amzn.to/2WT5Jw7
Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle


The Public Company Accounting Oversight Board or PCAOB is a little-known agency, created by the Sarbanes–Oxley Act in 2002 to oversee the audits of public companies and other securities issuers. The Sarbanes-Oxley Act required that auditors of U.S. public companies be subject to external and independent oversight for the first time in history. Previously, the profession was self-regulated.

This all came about in response to the Enron accounting scandal in 2001 which brought down Arthur Andersen after it was found guilty of crimes in the firm's auditing of Enron.

The Holding Foreign Companies Accountable Act, is not yet law. For this to become law, it has to be voted on by the House of Representatives and then sent to the President of the United States who can choose whether or not to sign the bill. If the President signs the bill, it becomes a law.

Why is this an issue all of a sudden?

There have been a number of scandals in the last short while which have raised questions about the state of Chinese accounting practices, and whether stock exchanges are doing enough to protect investors from fraud and scandal. The most notable story has been the fall of Luckin Coffee, which announced that it may have overstated sales by hundreds of millions of dollars. Nasdaq has since sent a notice to Luckin Coffee that it intends to delist the company’s ADR shares from the exchange.
Around the world the models of corporate governance differ according to the variety of capitalism in the countries in which firms are incorporated. The Anglo-American model emphasizes the interests of shareholders. The multi-stakeholder model associated with Continental Europe and Japan also recognizes the interests of workers, managers, suppliers, customers, and the community. Corporate governance is of great importance economically. It is the reason that investors have faith in the capital markets and are willing to invest their savings in projects and businesses that provide jobs, economic growth, and products to the marketplace.
I have a chapter in my Corporate Finance book, on corporate governance which goes through the various laws and listing requirements, particularly in the United States.

There has been a general trend towards better corporate governance around the world – a trend which started after the 1929 stock market crash. In recent years, a lot of Silicon Valley companies have bucked that trend.

Facebook went public a few years ago with a multiple share class structure. This enabled Founder shares to maintain 10 times the voting rights of common shareholders. Shortly after that Snap went public issuing only non-voting shares to the public.

Former president Donald Trump last year issued an order banning investments in companies that the Pentagon had put on a list of groups with suspected links to the People’s Liberation Army.


Companies can look around the world to find exchanges to list on, but no regulatory

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 893 no Is Electrification Killing the Auto Industry? Go to https://hensonshaving.com/BOYLE and enter BOYLE at checkout to get a free tube of Shave Cream with your purchase of a Henson Razor.For years, the auto industry has been hyping the transition to electric vehicles with optimistic sales forecasts for electric models and huge growth projections. Investors pumped up valuations for automakers, based on their visions for an electric future.Now the hype is dwindling, and companies are again cheering consumer choice. Automakers from Ford Motor and General Motors to Mercedes-Benz, Volkswagen and Volvo are scaling back or delaying their electric vehicle plans.Tesla’s annual vehicle deliveries declined for the first time in more than a decade during a period when overall car sales are up. Have automakers overinvested in EVs and are EVs killing the car industry? Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/joinFurther Reading: How Trump policies could reshape the EV industry: https://observer.com/2024/12/trump-ev-policy-tesla/Norway EV subsidies: https://www.instituteforenergyresearch.org/renewable/the-hypocrisy-of-the-electric-vehicle-movement/Tesla Deliveries drop: https://www.ft.com/content/f13d799c-a4dc-4619-b876-6ec68b502fecAutomakers struggling: https://www.nytimes.com/2024/12/15/business/automakers-trouble.htmlNorthvolt Bankruptcy: https://www.ft.com/content/09938004-21b9-4750-8fa2-9ed15c566d4eThe Winners & Losers in Auto Sales: https://www.caranddriver.com/news/g63335108/auto-sales-q4-2024-winners-losers/Why Norway is Having Second Thoughts about EVs: https://www.vox.com/future-perfect/23939076/norway-electric-vehicle-cars-evs-tesla-oslo Learn more about your ad choices. Visit megaphone.fm/adchoices Sun, 01 Nov 2026 08:45:00 -0000 full Patrick Boyle Go to https://hensonshaving.com/BOYLE and enter BOYLE at checkout to get a free tube of Shave Cream with your purchase of a Henson Razor.For years, the auto industry has been hyping the transition to electric vehicles with optimistic sales forecasts for electric models and huge growth projections. Investors pumped up valuations for automakers, based on their visions for an electric future.Now the hype is dwindling, and companies are again cheering consumer choice. Automakers from Ford Motor and General Motors to Mercedes-Benz, Volkswagen and Volvo are scaling back or delaying their electric vehicle plans.Tesla’s annual vehicle deliveries declined for the first time in more than a decade during a period when overall car sales are up. Have automakers overinvested in EVs and are EVs killing the car industry? Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/joinFurther Reading: How Trump policies could reshape the EV industry: https://observer.com/2024/12/trump-ev-policy-tesla/Norway EV subsidies: https://www.instituteforenergyresearch.org/renewable/the-hypocrisy-of-the-electric-vehicle-movement/Tesla Deliveries drop: https://www.ft.com/content/f13d799c-a4dc-4619-b876-6ec68b502fecAutomakers struggling: https://www.nytimes.com/2024/12/15/business/automakers-trouble.htmlNorthvolt Bankruptcy: https://www.ft.com/content/09938004-21b9-4750-8fa2-9ed15c566d4eThe Winners & Losers in Auto Sales: https://www.caranddriver.com/news/g63335108/auto-sales-q4-2024-winners-losers/Why Norway is Having Second Thoughts about EVs: https://www.vox.com/future-perfect/23939076/norway-electric-vehicle-cars-evs-tesla-oslo Learn more about your ad choices. Visit megaphone.fm/adchoices Go to https://hensonshaving.com/BOYLE and enter BOYLE at checkout to get a free tube of Shave Cream with your purchase of a Henson Razor.

For years, the auto industry has been hyping the transition to electric vehicles with optimistic sales forecasts for electric models and huge growth projections. Investors pumped up valuations for automakers, based on their visions for an electric future.

Now the hype is dwindling, and companies are again cheering consumer choice. Automakers from Ford Motor and General Motors to Mercedes-Benz, Volkswagen and Volvo are scaling back or delaying their electric vehicle plans.

Tesla’s annual vehicle deliveries declined for the first time in more than a decade during a period when overall car sales are up. Have automakers overinvested in EVs and are EVs killing the car industry?

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Further Reading:
How Trump policies could reshape the EV industry: https://observer.com/2024/12/trump-ev-policy-tesla/
Norway EV subsidies: https://www.instituteforenergyresearch.org/renewable/the-hypocrisy-of-the-electric-vehicle-movement/
Tesla Deliveries drop: https://www.ft.com/content/f13d799c-a4dc-4619-b876-6ec68b502fec
Automakers struggling: https://www.nytimes.com/2024/12/15/business/automakers-trouble.html
Northvolt Bankruptcy: https://www.ft.com/content/09938004-21b9-4750-8fa2-9ed15c566d4e
The Winners & Losers in Auto Sales: https://www.caranddriver.com/news/g63335108/auto-sales-q4-2024-winners-losers/
Why Norway is Having Second Thoughts about EVs: https://www.vox.com/future-perfect/23939076/norway-electric-vehicle-cars-evs-tesla-oslo

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2113 no Big Tech Doesn't Want You Anymore To try everything Brilliant has to offer for free for a full 30 days, visit https://brilliant.org/patrick/. You’ll also get 20% off an annual premium subscription.Big Tech is slashing hundreds of thousands of jobs and blaming artificial intelligence, but there may be more to the story than that. Intel just announced fifteen thousand layoffs yesterday, causing their stock price to plunge. Big Tech, who for over a decade provided all sorts of employee perks may no longer be the dream place to work.Microphone Stand: https://amzn.to/3WuIQghFunny @KellyStamps "day in the life" video: https://www.youtube.com/watch?v=arwwguR9tGMPatrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sun, 01 Nov 2026 08:22:30 -0000 full Patrick Boyle To try everything Brilliant has to offer for free for a full 30 days, visit https://brilliant.org/patrick/. You’ll also get 20% off an annual premium subscription.Big Tech is slashing hundreds of thousands of jobs and blaming artificial intelligence, but there may be more to the story than that. Intel just announced fifteen thousand layoffs yesterday, causing their stock price to plunge. Big Tech, who for over a decade provided all sorts of employee perks may no longer be the dream place to work.Microphone Stand: https://amzn.to/3WuIQghFunny @KellyStamps "day in the life" video: https://www.youtube.com/watch?v=arwwguR9tGMPatrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices To try everything Brilliant has to offer for free for a full 30 days, visit https://brilliant.org/patrick/. You’ll also get 20% off an annual premium subscription.

Big Tech is slashing hundreds of thousands of jobs and blaming artificial intelligence, but there may be more to the story than that. Intel just announced fifteen thousand layoffs yesterday, causing their stock price to plunge. Big Tech, who for over a decade provided all sorts of employee perks may no longer be the dream place to work.

Microphone Stand: https://amzn.to/3WuIQgh
Funny @KellyStamps "day in the life" video: https://www.youtube.com/watch?v=arwwguR9tGM

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
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]]> 2049 no How Much Would an AI Crash Destroy? If you’re looking to upgrade your business wardrobe, I can recommend giving Tailor Store a try. Their shirts are made to your measurements, so you can create something that fits both your body and your personal style. My viewers receive 25% off their first order through my link: https://www.tailorstore.com/patrickboyleTwo chip stocks recently drove seventeen percent of the entire global stock market's return in a single month — which tells you just how concentrated the AI trade has become, and how exposed the average investor now is without realising it. In this video we look at how much wealth an AI crash could actually destroy, with estimates from Dean Baker, former IMF chief economist Gita Gopinath, and Oliver Wyman running into the tens of trillions of dollars. We cover why the usual places to hide — small caps, value funds, international stocks — are now packed with AI stocks, what the Bank for International Settlements found when it compared today's buildout to the great railway and dot-com bubbles, and why a technology being real has never been enough to protect the people who overpaid for it. This isn't a crash prediction. It's a look at the downside risk, the illusion of diversification, and why boring, unexciting investing tends to win in the end.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sun, 01 Nov 2026 08:00:00 -0000 full Patrick Boyle If you’re looking to upgrade your business wardrobe, I can recommend giving Tailor Store a try. Their shirts are made to your measurements, so you can create something that fits both your body and your personal style. My viewers receive 25% off their first order through my link: https://www.tailorstore.com/patrickboyleTwo chip stocks recently drove seventeen percent of the entire global stock market's return in a single month — which tells you just how concentrated the AI trade has become, and how exposed the average investor now is without realising it. In this video we look at how much wealth an AI crash could actually destroy, with estimates from Dean Baker, former IMF chief economist Gita Gopinath, and Oliver Wyman running into the tens of trillions of dollars. We cover why the usual places to hide — small caps, value funds, international stocks — are now packed with AI stocks, what the Bank for International Settlements found when it compared today's buildout to the great railway and dot-com bubbles, and why a technology being real has never been enough to protect the people who overpaid for it. This isn't a crash prediction. It's a look at the downside risk, the illusion of diversification, and why boring, unexciting investing tends to win in the end.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices If you’re looking to upgrade your business wardrobe, I can recommend giving Tailor Store a try. Their shirts are made to your measurements, so you can create something that fits both your body and your personal style. My viewers receive 25% off their first order through my link: https://www.tailorstore.com/patrickboyle

Two chip stocks recently drove seventeen percent of the entire global stock market's return in a single month — which tells you just how concentrated the AI trade has become, and how exposed the average investor now is without realising it. In this video we look at how much wealth an AI crash could actually destroy, with estimates from Dean Baker, former IMF chief economist Gita Gopinath, and Oliver Wyman running into the tens of trillions of dollars. We cover why the usual places to hide — small caps, value funds, international stocks — are now packed with AI stocks, what the Bank for International Settlements found when it compared today's buildout to the great railway and dot-com bubbles, and why a technology being real has never been enough to protect the people who overpaid for it. This isn't a crash prediction. It's a look at the downside risk, the illusion of diversification, and why boring, unexciting investing tends to win in the end.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

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]]> 2734 no Will The USO ETF Be Forced to Liquidate?? | The US Oil Fund Will The US Oil Fund Be Shut Down By Their Broker?Patricks Books on Amazon. https://amzn.to/36izIReVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePatreon Page: https://www.patreon.com/PatrickBoyleOnFinanceThe situation with USO, the US Oil ETF just gets weirder and weirder. In todays video we will discuss whether USO will have to liquidate their holdings after running into issues with their brokers.The situation with USO, the US Oil ETF just gets weirder and weirder. In todays video we will discuss whether USO will have to liquidate their holdings after running into issues with their brokers.Some history on this topic.Oil prices went negative for a few hours the day before the expiration of the may oil futures contract last April. I posted a video explaining that issue. Here is the link https://www.youtube.com/watch?v=dfqmjSOD7pQThe USO is an ETF that invests in oil futures. They had rolled their futures, so were uninvolved with the negative price issue, but…People realized the USO could possibly go negative and there were no systems in place to deal with an ETF having a negative price, in addition the fund AUM ballooned and USO no longer had sufficient authorized shares allowing its price to drift from NAV. I made a video on that topic too. https://www.youtube.com/watch?v=BIqIjbHeV-gThe make up of the ETF was then changed, so it was then tracking longer dated contracts, minimizing the impact of the roll and reducing the risk that the ETF could have a negative NAV.This is not great for hedgers, many of whom short the ETF to hedge a position and need it to accurately track its underlying.In today’s news we are now learning that brokers (known as FCM’s in the world of futures trading) might now be unwilling to deal with the USO ETF for risk management reasons.RBC Capital is the USO ETF’s only clearing broker and RBC has informed the ETF that they are longer prepared to clear USO’s portfolio. Specifically, in the benchmark front month but also, rather surprisingly, in any other expirations. RBC has indicated that this limitation on USO is a result of RBC’s own internal risk management requirements and directions it has received from other regulators in the United States, Canada and the United Kingdom. Ugh… Brokers.USO just filed an update to the SEC today explaining:RBC, currently USO’s only FCM, has expressly informed USO that, until further notice, USO may not hold positions in the Benchmark Futures Oil Futures Contract and that it may not purchase any other Oil Futures Contracts for USO’s portfolio through RBC whether or not such purchases would be within the limits permitted by the exchanges.RBC and other market participants , including other FCMs, have taken risk mitigation measures that constrain USO’s ability to invest in the Benchmark Futures Contract and other Oil Futures Contracts.USO has been engaging in efforts to enter into additional FCM agreements for the purpose of the purchase and sale of Benchmark Oil Futures Contracts as well as other Oil Futures Contracts. To date, USO has not entered into an agreement with any FCM other than RBC and it cannot predict with any certainty when it will do so.Some more History:USO’s sister product, the United States Natural Gas Fund (UNG), experienced similar, but lesser stresses in the Summer of 2009.First its AUM exploded, then it started experimenting with exotic instruments, next its registered shares got depleted, then its creations were suspended, then it continued to trade at a premium despite creations being suspended, then the SEC failed to grant it permission for the issuance of new shares. So far this is the same as the USO. For UNG, the SEC ended up changing its mind after regulators got involved with position limits, and finally, the fund reopened. This situation is differ Learn more about your ad choices. Visit megaphone.fm/adchoices Sun, 01 Nov 2026 07:37:30 -0000 full Patrick Boyle Will The US Oil Fund Be Shut Down By Their Broker?Patricks Books on Amazon. https://amzn.to/36izIReVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePatreon Page: https://www.patreon.com/PatrickBoyleOnFinanceThe situation with USO, the US Oil ETF just gets weirder and weirder. In todays video we will discuss whether USO will have to liquidate their holdings after running into issues with their brokers.The situation with USO, the US Oil ETF just gets weirder and weirder. In todays video we will discuss whether USO will have to liquidate their holdings after running into issues with their brokers.Some history on this topic.Oil prices went negative for a few hours the day before the expiration of the may oil futures contract last April. I posted a video explaining that issue. Here is the link https://www.youtube.com/watch?v=dfqmjSOD7pQThe USO is an ETF that invests in oil futures. They had rolled their futures, so were uninvolved with the negative price issue, but…People realized the USO could possibly go negative and there were no systems in place to deal with an ETF having a negative price, in addition the fund AUM ballooned and USO no longer had sufficient authorized shares allowing its price to drift from NAV. I made a video on that topic too. https://www.youtube.com/watch?v=BIqIjbHeV-gThe make up of the ETF was then changed, so it was then tracking longer dated contracts, minimizing the impact of the roll and reducing the risk that the ETF could have a negative NAV.This is not great for hedgers, many of whom short the ETF to hedge a position and need it to accurately track its underlying.In today’s news we are now learning that brokers (known as FCM’s in the world of futures trading) might now be unwilling to deal with the USO ETF for risk management reasons.RBC Capital is the USO ETF’s only clearing broker and RBC has informed the ETF that they are longer prepared to clear USO’s portfolio. Specifically, in the benchmark front month but also, rather surprisingly, in any other expirations. RBC has indicated that this limitation on USO is a result of RBC’s own internal risk management requirements and directions it has received from other regulators in the United States, Canada and the United Kingdom. Ugh… Brokers.USO just filed an update to the SEC today explaining:RBC, currently USO’s only FCM, has expressly informed USO that, until further notice, USO may not hold positions in the Benchmark Futures Oil Futures Contract and that it may not purchase any other Oil Futures Contracts for USO’s portfolio through RBC whether or not such purchases would be within the limits permitted by the exchanges.RBC and other market participants , including other FCMs, have taken risk mitigation measures that constrain USO’s ability to invest in the Benchmark Futures Contract and other Oil Futures Contracts.USO has been engaging in efforts to enter into additional FCM agreements for the purpose of the purchase and sale of Benchmark Oil Futures Contracts as well as other Oil Futures Contracts. To date, USO has not entered into an agreement with any FCM other than RBC and it cannot predict with any certainty when it will do so.Some more History:USO’s sister product, the United States Natural Gas Fund (UNG), experienced similar, but lesser stresses in the Summer of 2009.First its AUM exploded, then it started experimenting with exotic instruments, next its registered shares got depleted, then its creations were suspended, then it continued to trade at a premium despite creations being suspended, then the SEC failed to grant it permission for the issuance of new shares. So far this is the same as the USO. For UNG, the SEC ended up changing its mind after regulators got involved with position limits, and finally, the fund reopened. This situation is differ Learn more about your ad choices. Visit megaphone.fm/adchoices Will The US Oil Fund Be Shut Down By Their Broker?
Patricks Books on Amazon. https://amzn.to/36izIRe
Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance


The situation with USO, the US Oil ETF just gets weirder and weirder. In todays video we will discuss whether USO will have to liquidate their holdings after running into issues with their brokers.

The situation with USO, the US Oil ETF just gets weirder and weirder. In todays video we will discuss whether USO will have to liquidate their holdings after running into issues with their brokers.

Some history on this topic.

Oil prices went negative for a few hours the day before the expiration of the may oil futures contract last April. I posted a video explaining that issue. Here is the link https://www.youtube.com/watch?v=dfqmjSOD7pQ
The USO is an ETF that invests in oil futures. They had rolled their futures, so were uninvolved with the negative price issue, but…

People realized the USO could possibly go negative and there were no systems in place to deal with an ETF having a negative price, in addition the fund AUM ballooned and USO no longer had sufficient authorized shares allowing its price to drift from NAV. I made a video on that topic too. https://www.youtube.com/watch?v=BIqIjbHeV-g

The make up of the ETF was then changed, so it was then tracking longer dated contracts, minimizing the impact of the roll and reducing the risk that the ETF could have a negative NAV.

This is not great for hedgers, many of whom short the ETF to hedge a position and need it to accurately track its underlying.

In today’s news we are now learning that brokers (known as FCM’s in the world of futures trading) might now be unwilling to deal with the USO ETF for risk management reasons.
RBC Capital is the USO ETF’s only clearing broker and RBC has informed the ETF that they are longer prepared to clear USO’s portfolio. Specifically, in the benchmark front month but also, rather surprisingly, in any other expirations. RBC has indicated that this limitation on USO is a result of RBC’s own internal risk management requirements and directions it has received from other regulators in the United States, Canada and the United Kingdom. Ugh… Brokers.

USO just filed an update to the SEC today explaining:
RBC, currently USO’s only FCM, has expressly informed USO that, until further notice, USO may not hold positions in the Benchmark Futures Oil Futures Contract and that it may not purchase any other Oil Futures Contracts for USO’s portfolio through RBC whether or not such purchases would be within the limits permitted by the exchanges.

RBC and other market participants , including other FCMs, have taken risk mitigation measures that constrain USO’s ability to invest in the Benchmark Futures Contract and other Oil Futures Contracts.

USO has been engaging in efforts to enter into additional FCM agreements for the purpose of the purchase and sale of Benchmark Oil Futures Contracts as well as other Oil Futures Contracts.

To date, USO has not entered into an agreement with any FCM other than RBC and it cannot predict with any certainty when it will do so.

Some more History:
USO’s sister product, the United States Natural Gas Fund (UNG), experienced similar, but lesser stresses in the Summer of 2009.
First its AUM exploded, then it started experimenting with exotic instruments, next its registered shares got depleted, then its creations were suspended, then it continued to trade at a premium despite creations being suspended, then the SEC failed to grant it permission for the issuance of new shares. So far this is the same as the USO. For UNG, the SEC ended up changing its mind after regulators got involved with position limits, and finally, the fund reopened.

This situation is differ

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]]> 788 no The Alarming Rise in Global Debt! Happy FlexiSpot Brand Day & Memorial Day Sale, up to 65% OFF —on May 26th at 9:00 AM, the first 20 customers to place an order will have a chance to get it 100% free. If you are on a budget, FlexiSpot premium E7 will be a great option. Shop now and if you liked it, leave a note saying “Patrick Boyle” at checkout and use my code ''YTE7P50'' to get EXTRA $50 off on the E7 Plus/E7 Pro/E7L standing desk or "YTE730" to get EXTRA $30 off on the E7 standing desk!FlexiSpot E7Plus standing desk:USA: https://bit.ly/3Fd9lSUCAN: https://bit.ly/44EIpFVDeveloped economies around the world have been growing their debts over the last twenty-five years. This was less of a problem when interest rates were close to zero but in the era of trade wars, lower credit ratings and higher interest rates, debt is more expensive to issue and service. Bond investors have worried that governments are addicted to debt for quite some time, and recent drama in the Japanese bond market along with the deficit spending of Trump's "one big beautiful bill" lead many to question the ability of governments to cover massive budget deficits. This video looks at the drivers of growing government debt, what the money is spent on, can Elon Musk's DOGE cut spending and analyze the role of the 'bond vigilantes', to understand if huge budget deficits and government borrowing could spiral out of control. Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sun, 01 Nov 2026 07:15:00 -0000 full Patrick Boyle Happy FlexiSpot Brand Day & Memorial Day Sale, up to 65% OFF —on May 26th at 9:00 AM, the first 20 customers to place an order will have a chance to get it 100% free. If you are on a budget, FlexiSpot premium E7 will be a great option. Shop now and if you liked it, leave a note saying “Patrick Boyle” at checkout and use my code ''YTE7P50'' to get EXTRA $50 off on the E7 Plus/E7 Pro/E7L standing desk or "YTE730" to get EXTRA $30 off on the E7 standing desk!FlexiSpot E7Plus standing desk:USA: https://bit.ly/3Fd9lSUCAN: https://bit.ly/44EIpFVDeveloped economies around the world have been growing their debts over the last twenty-five years. This was less of a problem when interest rates were close to zero but in the era of trade wars, lower credit ratings and higher interest rates, debt is more expensive to issue and service. Bond investors have worried that governments are addicted to debt for quite some time, and recent drama in the Japanese bond market along with the deficit spending of Trump's "one big beautiful bill" lead many to question the ability of governments to cover massive budget deficits. This video looks at the drivers of growing government debt, what the money is spent on, can Elon Musk's DOGE cut spending and analyze the role of the 'bond vigilantes', to understand if huge budget deficits and government borrowing could spiral out of control. Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Happy FlexiSpot Brand Day & Memorial Day Sale, up to 65% OFF —on May 26th at 9:00 AM, the first 20 customers to place an order will have a chance to get it 100% free. If you are on a budget, FlexiSpot premium E7 will be a great option. Shop now and if you liked it, leave a note saying “Patrick Boyle” at checkout and use my code ''YTE7P50'' to get EXTRA $50 off on the E7 Plus/E7 Pro/E7L standing desk or "YTE730" to get EXTRA $30 off on the E7 standing desk!

FlexiSpot E7Plus standing desk:
USA: https://bit.ly/3Fd9lSU
CAN: https://bit.ly/44EIpFV

Developed economies around the world have been growing their debts over the last twenty-five years. This was less of a problem when interest rates were close to zero but in the era of trade wars, lower credit ratings and higher interest rates, debt is more expensive to issue and service. Bond investors have worried that governments are addicted to debt for quite some time, and recent drama in the Japanese bond market along with the deficit spending of Trump's "one big beautiful bill" lead many to question the ability of governments to cover massive budget deficits. This video looks at the drivers of growing government debt, what the money is spent on, can Elon Musk's DOGE cut spending and analyze the role of the 'bond vigilantes', to understand if huge budget deficits and government borrowing could spiral out of control.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
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]]> 2187 no What's Behind The Stock Market Drama? Use PATRICK activation code at http://nordpass.com/patrick to get a NordPass Business 3-month free trial. No credit card is required.This Monday was one of the worst days for global stock markets in years, Stocks in the US, Europe and Japan tanked on Friday and again on Monday before a partial rebound. Bond yields and foreign exchange rates swung around wildly too.The Magnificent seven stocks lost about $1 trillion dollars in value in just two days. So, what exactly is going on in markets, and how much should we worry?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sun, 01 Nov 2026 06:52:30 -0000 full Patrick Boyle Use PATRICK activation code at http://nordpass.com/patrick to get a NordPass Business 3-month free trial. No credit card is required.This Monday was one of the worst days for global stock markets in years, Stocks in the US, Europe and Japan tanked on Friday and again on Monday before a partial rebound. Bond yields and foreign exchange rates swung around wildly too.The Magnificent seven stocks lost about $1 trillion dollars in value in just two days. So, what exactly is going on in markets, and how much should we worry?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Use PATRICK activation code at http://nordpass.com/patrick to get a NordPass Business 3-month free trial. No credit card is required.

This Monday was one of the worst days for global stock markets in years, Stocks in the US, Europe and Japan tanked on Friday and again on Monday before a partial rebound. Bond yields and foreign exchange rates swung around wildly too.

The Magnificent seven stocks lost about $1 trillion dollars in value in just two days. So, what exactly is going on in markets, and how much should we worry?

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2064 no What is Futures Margin? - What Is It? How Does It Work? What is Futures Margin? - What Is It? How Does It Work?These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleMargin is a critical concept for those trading futures and derivatives in all asset classes. Futures margin is a good-faith deposit or an amount of capital one needs to post or deposit to control a futures contract. The margin is a down payment on the full contract value of a futures contract. Futures exchanges determine and set futures margin rates. At times, brokerage companies will add an extra premium to the minimum exchange margin rate to lower risk exposure. The margin is set based on the risk of market volatility. When market volatility moves higher in a futures market margin rates rise. When trading stocks, there is a simpler margin arrangement than in the futures market. The equity market allows participants to trade on up to 50% margin. Therefore, one can buy or sell up to $100,000 worth of stock for $50,000.Margin Rate for Future Contracts In the world of futures contracts, the margin rate is much lower. In a typical futures contract, the margin rate varies between 5 and 15% of the total contract value. Initial Futures Margin is the amount of money that is required to open a buy or sell position on a futures contract.Initial margin is original margin, the amount posted when the original trade takes place.Margin Maintenance or Variation MarginMargin Maintenance is the amount of money necessary when a loss on a futures position requires one to allocate more funds to return the margin to the initial or original margin level. Closing or liquidating a position eliminates the margin call requirement. Learn more about your ad choices. Visit megaphone.fm/adchoices Sun, 01 Nov 2026 06:30:00 -0000 full Patrick Boyle What is Futures Margin? - What Is It? How Does It Work?These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleMargin is a critical concept for those trading futures and derivatives in all asset classes. Futures margin is a good-faith deposit or an amount of capital one needs to post or deposit to control a futures contract. The margin is a down payment on the full contract value of a futures contract. Futures exchanges determine and set futures margin rates. At times, brokerage companies will add an extra premium to the minimum exchange margin rate to lower risk exposure. The margin is set based on the risk of market volatility. When market volatility moves higher in a futures market margin rates rise. When trading stocks, there is a simpler margin arrangement than in the futures market. The equity market allows participants to trade on up to 50% margin. Therefore, one can buy or sell up to $100,000 worth of stock for $50,000.Margin Rate for Future Contracts In the world of futures contracts, the margin rate is much lower. In a typical futures contract, the margin rate varies between 5 and 15% of the total contract value. Initial Futures Margin is the amount of money that is required to open a buy or sell position on a futures contract.Initial margin is original margin, the amount posted when the original trade takes place.Margin Maintenance or Variation MarginMargin Maintenance is the amount of money necessary when a loss on a futures position requires one to allocate more funds to return the margin to the initial or original margin level. Closing or liquidating a position eliminates the margin call requirement. Learn more about your ad choices. Visit megaphone.fm/adchoices What is Futures Margin? - What Is It? How Does It Work?

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

Margin is a critical concept for those trading futures and derivatives in all asset classes. Futures margin is a good-faith deposit or an amount of capital one needs to post or deposit to control a futures contract. The margin is a down payment on the full contract value of a futures contract.

Futures exchanges determine and set futures margin rates. At times, brokerage companies will add an extra premium to the minimum exchange margin rate to lower risk exposure. The margin is set based on the risk of market volatility. When market volatility moves higher in a futures market margin rates rise. When trading stocks, there is a simpler margin arrangement than in the futures market. The equity market allows participants to trade on up to 50% margin. Therefore, one can buy or sell up to $100,000 worth of stock for $50,000.

Margin Rate for Future Contracts
In the world of futures contracts, the margin rate is much lower. In a typical futures contract, the margin rate varies between 5 and 15% of the total contract value.

Initial Futures Margin is the amount of money that is required to open a buy or sell position on a futures contract.

Initial margin is original margin, the amount posted when the original trade takes place.

Margin Maintenance or Variation Margin
Margin Maintenance is the amount of money necessary when a loss on a futures position requires one to allocate more funds to return the margin to the initial or original margin level. Closing or liquidating a position eliminates the margin call requirement.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 580 no More than 30 stocks might be removed from the SandP 500 | Index Adds and Deletes | Passive Investing Passive investment indexes in times of market volatility have become a subplot of the recent drama in markets, following wild moves in the oil market. It’s looking like things could kick off in stocks, too, as index overseers consider ejecting underperforming companies.In indexes like the S&P 500, dozens of companies are at risk of deletion, after shares dove in March. While index compilers are guided by rules, they must also use their judgment in assessing the market right now: how much of the recent plunge will turn out to be permanent?The S&P committee is going to have to decide how long to wait before ejecting impaired companies, The S&P 500 may be the world’s most-followed passive index, but the recent market volatility is going to force its constructors into some very active choices.More than 30 firms might be removed from the S&P 500.The S&P500 has staged a remarkable recovery since March, a rebound whose strength is largely due to its weighting in technology and health-care stocks. Less noticed by investors is the impact of almost fifty company removals over the last three years. These deletions were mostly of retail, industrial and energy companies, sectors that have happened to struggle the most in 2020.A basket of the companies deleted from the S&P 500 over the past three years (for reasons other than acquisitions) is down 47% this year, almost five times more than the broad markets 2020 decline. Just five of the deleted firms have shown positive returns year to date. Bed Bath & Beyond and Macy’s, two large retailers are down around 70%.Many of these companies were in some form of trouble before 2020, justifying their removal. But the fact that they belong to the industries that have struggled the most this year has been fortunate for anyone with passive index exposure to the market.Changes in index members are made as needed and can be made at any time, according to S&P Dow Jones Indices. Human judgment is part of the process, the committee aims to minimize turnover and doesn’t view crossing below thresholds governing, market capitalization, as a reason alone to eject a stock.The criteria for addition to an index are not the same as those for continued membership according to the S&P U.S. Indices Methodology rule book available on the Standard & Poors website. “An index constituent that appears to violate criteria for addition to that index is not necessarily going to be deleted unless its impairment is judged to be more permanent.Removal of 30 companies would exceed the annual average over the last thirty years and be one of the busiest years on record. Even passive investments have active elements, a fact on display last month when an oil ETF reshuffled the mix of its futures in order to protect itself from blowing up. A company must have a market-cap of at least $8.2 billion for S&P 500 consideration. Liquidity must also be sufficient, and the sum of total earnings over the past four quarters must be positive, along with profits in the most recent quarter.Market-cap guidelines for the S&P500 were raised to $8.2 billion on Feb. 20, 2019, about a fifth of companies in the index no longer meet that standard today.The index committee is probably hesitant to add more technology firms to a benchmark that’s already very concentrated in that sector. The Information Technology sector makes up 26% of the index, the highest share since the dot-com boom.Buy Patricks' Books Here: https://amzn.to/3dSPftJVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePassive investing, index adds and deletes, vanguard index fund. Learn more about your ad choices. Visit megaphone.fm/adchoices Sun, 01 Nov 2026 06:07:30 -0000 full Patrick Boyle Passive investment indexes in times of market volatility have become a subplot of the recent drama in markets, following wild moves in the oil market. It’s looking like things could kick off in stocks, too, as index overseers consider ejecting underperforming companies.In indexes like the S&P 500, dozens of companies are at risk of deletion, after shares dove in March. While index compilers are guided by rules, they must also use their judgment in assessing the market right now: how much of the recent plunge will turn out to be permanent?The S&P committee is going to have to decide how long to wait before ejecting impaired companies, The S&P 500 may be the world’s most-followed passive index, but the recent market volatility is going to force its constructors into some very active choices.More than 30 firms might be removed from the S&P 500.The S&P500 has staged a remarkable recovery since March, a rebound whose strength is largely due to its weighting in technology and health-care stocks. Less noticed by investors is the impact of almost fifty company removals over the last three years. These deletions were mostly of retail, industrial and energy companies, sectors that have happened to struggle the most in 2020.A basket of the companies deleted from the S&P 500 over the past three years (for reasons other than acquisitions) is down 47% this year, almost five times more than the broad markets 2020 decline. Just five of the deleted firms have shown positive returns year to date. Bed Bath & Beyond and Macy’s, two large retailers are down around 70%.Many of these companies were in some form of trouble before 2020, justifying their removal. But the fact that they belong to the industries that have struggled the most this year has been fortunate for anyone with passive index exposure to the market.Changes in index members are made as needed and can be made at any time, according to S&P Dow Jones Indices. Human judgment is part of the process, the committee aims to minimize turnover and doesn’t view crossing below thresholds governing, market capitalization, as a reason alone to eject a stock.The criteria for addition to an index are not the same as those for continued membership according to the S&P U.S. Indices Methodology rule book available on the Standard & Poors website. “An index constituent that appears to violate criteria for addition to that index is not necessarily going to be deleted unless its impairment is judged to be more permanent.Removal of 30 companies would exceed the annual average over the last thirty years and be one of the busiest years on record. Even passive investments have active elements, a fact on display last month when an oil ETF reshuffled the mix of its futures in order to protect itself from blowing up. A company must have a market-cap of at least $8.2 billion for S&P 500 consideration. Liquidity must also be sufficient, and the sum of total earnings over the past four quarters must be positive, along with profits in the most recent quarter.Market-cap guidelines for the S&P500 were raised to $8.2 billion on Feb. 20, 2019, about a fifth of companies in the index no longer meet that standard today.The index committee is probably hesitant to add more technology firms to a benchmark that’s already very concentrated in that sector. The Information Technology sector makes up 26% of the index, the highest share since the dot-com boom.Buy Patricks' Books Here: https://amzn.to/3dSPftJVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePassive investing, index adds and deletes, vanguard index fund. Learn more about your ad choices. Visit megaphone.fm/adchoices Passive investment indexes in times of market volatility have become a subplot of the recent drama in markets, following wild moves in the oil market. It’s looking like things could kick off in stocks, too, as index overseers consider ejecting underperforming companies.
In indexes like the S&P 500, dozens of companies are at risk of deletion, after shares dove in March. While index compilers are guided by rules, they must also use their judgment in assessing the market right now: how much of the recent plunge will turn out to be permanent?
The S&P committee is going to have to decide how long to wait before ejecting impaired companies, The S&P 500 may be the world’s most-followed passive index, but the recent market volatility is going to force its constructors into some very active choices.
More than 30 firms might be removed from the S&P 500.

The S&P500 has staged a remarkable recovery since March, a rebound whose strength is largely due to its weighting in technology and health-care stocks. Less noticed by investors is the impact of almost fifty company removals over the last three years. These deletions were mostly of retail, industrial and energy companies, sectors that have happened to struggle the most in 2020.
A basket of the companies deleted from the S&P 500 over the past three years (for reasons other than acquisitions) is down 47% this year, almost five times more than the broad markets 2020 decline. Just five of the deleted firms have shown positive returns year to date. Bed Bath & Beyond and Macy’s, two large retailers are down around 70%.

Many of these companies were in some form of trouble before 2020, justifying their removal. But the fact that they belong to the industries that have struggled the most this year has been fortunate for anyone with passive index exposure to the market.

Changes in index members are made as needed and can be made at any time, according to S&P Dow Jones Indices. Human judgment is part of the process, the committee aims to minimize turnover and doesn’t view crossing below thresholds governing, market capitalization, as a reason alone to eject a stock.

The criteria for addition to an index are not the same as those for continued membership according to the S&P U.S. Indices Methodology rule book available on the Standard & Poors website. “An index constituent that appears to violate criteria for addition to that index is not necessarily going to be deleted unless its impairment is judged to be more permanent.

Removal of 30 companies would exceed the annual average over the last thirty years and be one of the busiest years on record. Even passive investments have active elements, a fact on display last month when an oil ETF reshuffled the mix of its futures in order to protect itself from blowing up.
A company must have a market-cap of at least $8.2 billion for S&P 500 consideration. Liquidity must also be sufficient, and the sum of total earnings over the past four quarters must be positive, along with profits in the most recent quarter.

Market-cap guidelines for the S&P500 were raised to $8.2 billion on Feb. 20, 2019, about a fifth of companies in the index no longer meet that standard today.

The index committee is probably hesitant to add more technology firms to a benchmark that’s already very concentrated in that sector. The Information Technology sector makes up 26% of the index, the highest share since the dot-com boom.

Buy Patricks' Books Here: https://amzn.to/3dSPftJ
Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle


Passive investing, index adds and deletes, vanguard index fund.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 901 no Tech Bros Inventing Things That Already Exist Ad: 🔒Remove your personal information from the web at https://joindeleteme.com/BOYLE and use code BOYLE for 20% off 🙌 DeleteMe international Plans: https://international.joindeleteme.comIt seems like every day the tech industry comes out with a "brilliant new idea” that turns out to be merely a reinvention of a mundane product that already existed. Tech bros keep reinventing the bus, but they have also taken to reinventing the tea pot, the toothbrush, the lunchbreak and the public park. In today's video we look at the tech products that either already existed or should never have existed.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleAmazon Affiliate LinksHydrate Spark: https://amzn.to/4dXX0hiSoylent: https://amzn.to/3ThRyxpA Juicer – which might be good: https://amzn.to/3XmLiWmA Bluetooth Tea Pot: https://amzn.to/3ZtlYRcDoug Evans – Sprouts: https://amzn.to/3XjXMy7A Tent: https://amzn.to/3TmrIZmAI Powered Toothbrush: https://amzn.to/3B2KtuvAffordable GPU for Handbag Making: https://amzn.to/4edxiFpRocket: https://amzn.to/3MDADBPVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sun, 01 Nov 2026 05:45:00 -0000 full Patrick Boyle Ad: 🔒Remove your personal information from the web at https://joindeleteme.com/BOYLE and use code BOYLE for 20% off 🙌 DeleteMe international Plans: https://international.joindeleteme.comIt seems like every day the tech industry comes out with a "brilliant new idea” that turns out to be merely a reinvention of a mundane product that already existed. Tech bros keep reinventing the bus, but they have also taken to reinventing the tea pot, the toothbrush, the lunchbreak and the public park. In today's video we look at the tech products that either already existed or should never have existed.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleAmazon Affiliate LinksHydrate Spark: https://amzn.to/4dXX0hiSoylent: https://amzn.to/3ThRyxpA Juicer – which might be good: https://amzn.to/3XmLiWmA Bluetooth Tea Pot: https://amzn.to/3ZtlYRcDoug Evans – Sprouts: https://amzn.to/3XjXMy7A Tent: https://amzn.to/3TmrIZmAI Powered Toothbrush: https://amzn.to/3B2KtuvAffordable GPU for Handbag Making: https://amzn.to/4edxiFpRocket: https://amzn.to/3MDADBPVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Ad: 🔒Remove your personal information from the web at https://joindeleteme.com/BOYLE and use code BOYLE for 20% off 🙌 DeleteMe international Plans: https://international.joindeleteme.com

It seems like every day the tech industry comes out with a "brilliant new idea” that turns out to be merely a reinvention of a mundane product that already existed. Tech bros keep reinventing the bus, but they have also taken to reinventing the tea pot, the toothbrush, the lunchbreak and the public park. In today's video we look at the tech products that either already existed or should never have existed.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Amazon Affiliate Links
Hydrate Spark: https://amzn.to/4dXX0hi
Soylent: https://amzn.to/3ThRyxp
A Juicer – which might be good: https://amzn.to/3XmLiWm
A Bluetooth Tea Pot: https://amzn.to/3ZtlYRc
Doug Evans – Sprouts: https://amzn.to/3XjXMy7
A Tent: https://amzn.to/3TmrIZm
AI Powered Toothbrush: https://amzn.to/3B2Ktuv
Affordable GPU for Handbag Making: https://amzn.to/4edxiFp
Rocket: https://amzn.to/3MDADBP

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2039 no What are the problems with VaR? | Risk Management | Finance In todays video we will learn about some of the problems in Value at Risk.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleIn todays video we will learn about some problems with Value at Risk (VaR) Calculations.One of the first issues with VaR is that there is no standard protocol for the statistics used to determine asset, portfolio or firm-wide risk. For example, statistics calculated using a period of low volatility may understate the potential for risk events to occur and the magnitude of those events. Risk may be further understated using normal distribution probabilities, which rarely account for extreme events.The assessment of potential loss represents the lowest amount of risk in a range of outcomes. For example, a VaR determination of 95% with 20% asset risk represents an expectation of losing at least 20% one of every 20 days on average. In this calculation, a loss of 50% still validates the risk assessment.The financial crisis of 2008 exposed these problems as the relatively benign VaR calculations ended up understating the risk posed by portfolios of subprime mortgages. Risk magnitude was also underestimated, which resulted in extreme leverage ratios within subprime portfolios. As a result, the underestimations left institutions unable to cover billions of dollars in losses as subprime mortgage values collapsed.Watch the video for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices Sun, 01 Nov 2026 05:22:30 -0000 full Patrick Boyle In todays video we will learn about some of the problems in Value at Risk.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleIn todays video we will learn about some problems with Value at Risk (VaR) Calculations.One of the first issues with VaR is that there is no standard protocol for the statistics used to determine asset, portfolio or firm-wide risk. For example, statistics calculated using a period of low volatility may understate the potential for risk events to occur and the magnitude of those events. Risk may be further understated using normal distribution probabilities, which rarely account for extreme events.The assessment of potential loss represents the lowest amount of risk in a range of outcomes. For example, a VaR determination of 95% with 20% asset risk represents an expectation of losing at least 20% one of every 20 days on average. In this calculation, a loss of 50% still validates the risk assessment.The financial crisis of 2008 exposed these problems as the relatively benign VaR calculations ended up understating the risk posed by portfolios of subprime mortgages. Risk magnitude was also underestimated, which resulted in extreme leverage ratios within subprime portfolios. As a result, the underestimations left institutions unable to cover billions of dollars in losses as subprime mortgage values collapsed.Watch the video for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices In todays video we will learn about some of the problems in Value at Risk.
These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

In todays video we will learn about some problems with Value at Risk (VaR) Calculations.

One of the first issues with VaR is that there is no standard protocol for the statistics used to determine asset, portfolio or firm-wide risk. For example, statistics calculated using a period of low volatility may understate the potential for risk events to occur and the magnitude of those events. Risk may be further understated using normal distribution probabilities, which rarely account for extreme events.

The assessment of potential loss represents the lowest amount of risk in a range of outcomes. For example, a VaR determination of 95% with 20% asset risk represents an expectation of losing at least 20% one of every 20 days on average. In this calculation, a loss of 50% still validates the risk assessment.

The financial crisis of 2008 exposed these problems as the relatively benign VaR calculations ended up understating the risk posed by portfolios of subprime mortgages. Risk magnitude was also underestimated, which resulted in extreme leverage ratios within subprime portfolios. As a result, the underestimations left institutions unable to cover billions of dollars in losses as subprime mortgage values collapsed.


Watch the video for more information.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 773 no America's Retirement Timebomb! Learn more about your ad choices. Visit megaphone.fm/adchoices Sun, 01 Nov 2026 05:00:00 -0000 full Patrick Boyle Learn more about your ad choices. Visit megaphone.fm/adchoices

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2086 no Intrinsic value and Time Value of Financial Options What is Intrinsic value and Time Value of Financial Options?, In The Money, At The Money, Out Of The MoneyThese classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleThe price of an option is made up of a combination of intrinsic value and time value.The intrinsic value of an option is the value of exercising the option right now. If the price of the underlying stock is above a call option strike price, the option has a positive monetary value, and is referred to as being in-the-money. If the underlying stock is priced cheaper than the call option's strike price, the call option is referred to as being out-of-the-money. If an option is out-of-the-money at expiration, its holder simply allows the option to expire worthless. This is because a rational investor would choose to buy the underlying stock at market rather than exercise an out-of-the-money call option to buy the same stock at a higher-than-market price. For the same reasons, a put option is in-the-money if it allows the purchase of the underlying at a market price below the strike price of the put option. A put option is out-of-the-money if the underlying's spot price is higher than the strike price. The time value of an option is the premium a rational investor would pay over its current exercise value (intrinsic value), based on the probability it will increase in value before expiry. Learn more about your ad choices. Visit megaphone.fm/adchoices Sun, 01 Nov 2026 04:37:30 -0000 full Patrick Boyle What is Intrinsic value and Time Value of Financial Options?, In The Money, At The Money, Out Of The MoneyThese classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleThe price of an option is made up of a combination of intrinsic value and time value.The intrinsic value of an option is the value of exercising the option right now. If the price of the underlying stock is above a call option strike price, the option has a positive monetary value, and is referred to as being in-the-money. If the underlying stock is priced cheaper than the call option's strike price, the call option is referred to as being out-of-the-money. If an option is out-of-the-money at expiration, its holder simply allows the option to expire worthless. This is because a rational investor would choose to buy the underlying stock at market rather than exercise an out-of-the-money call option to buy the same stock at a higher-than-market price. For the same reasons, a put option is in-the-money if it allows the purchase of the underlying at a market price below the strike price of the put option. A put option is out-of-the-money if the underlying's spot price is higher than the strike price. The time value of an option is the premium a rational investor would pay over its current exercise value (intrinsic value), based on the probability it will increase in value before expiry. Learn more about your ad choices. Visit megaphone.fm/adchoices What is Intrinsic value and Time Value of Financial Options?, In The Money, At The Money, Out Of The Money

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

The price of an option is made up of a combination of intrinsic value and time value.

The intrinsic value of an option is the value of exercising the option right now. If the price of the underlying stock is above a call option strike price, the option has a positive monetary value, and is referred to as being in-the-money. If the underlying stock is priced cheaper than the call option's strike price, the call option is referred to as being out-of-the-money. If an option is out-of-the-money at expiration, its holder simply allows the option to expire worthless. This is because a rational investor would choose to buy the underlying stock at market rather than exercise an out-of-the-money call option to buy the same stock at a higher-than-market price.

For the same reasons, a put option is in-the-money if it allows the purchase of the underlying at a market price below the strike price of the put option. A put option is out-of-the-money if the underlying's spot price is higher than the strike price.

The time value of an option is the premium a rational investor would pay over its current exercise value (intrinsic value), based on the probability it will increase in value before expiry.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 566 no Finding a Job in Finance | Finding a Job During Coronavirus | How to Network In today’s video we are going to discuss how to find a job in finance in 2020 and particularly how to find a job in finance during difficult times like during the coronavirus pandemic. What to expect when looking for a job during coronavirus.Visit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePatricks’ Books:Derivatives: https://amzn.to/2yOdRoNCorporate Finance: https://amzn.to/2T56SyuStatistics for Traders https://amzn.to/3dUv8vnThe US economy has shrunk almost 5% in the first quarter of 2020, many experts are predicting the worst economic recession "in our lifetime." The Bank of England is predicting the worst economic slowdown in 300 years. Right now, 33 million US workers are unemployedSo, times are hard, or at least harder than normal, but that should in no way deter you. These jobs are always hard to findIt usually takes 3 - 6 months to find a good jobIn difficult times you just must double your effortsMany of your competitors will feel discouraged and give up – you don’t have to.This job hunt will not be fun, but by the end of it you will have built an amazing skillset and be so much more resilient than before.You have a full-time job right now, and that job is the job huntYou are a salesperson! You will find that you will be selling for your entire career.The seven key steps in your job hunt:1. Inventory your skills and work out how they could be useful to a variety of employers2. Build a high quality cv, have friends check it, eliminate buzzwords and management speak3. Create a list of firms you could apply for. There are lots of great firms that you just haven’t heard of.4. Read the financial press, look for firms that are growing or expanding. They should be high on your list.5. For phone interviews, use “cheat sheets” 6. Apply online to all the big firms7. Find an exhaustive list of big firms on Wikipedia.8. Seek Internships and full-time jobsThat is the easy stuff out of the way.You need to set goals, the goals need to be short term and achievable. You need to break complex tasks down to their simple components. What is the first step?Step 1: get a meeting. Step 2: Then lots of meetings.Build a written plan, judge yourself against it be systematicSet short term goals 1-5-day goalsFind jobs that have not yet been advertisedContact real people not companiesHave a spreadsheet or word file where you keep detailed notes of your meetings.Judge your progress by the results you see, not by the number of applicationsThe job hunt is a numbers game, the moor meetings you get the better your odds are.Prepare for an interview with a friendSearch online for how the interview process works at the firms you are applying to. Find the typical questionsResearch the firm and the people interviewing youPrepare for well-known interview questions, prepare genuine good answers.Keep searching right up until the moment you have signed an employment contract – don’t slow down just because you had a good interviewThe harder you work at your job-hunt the more likely you are to be successful. Learn more about your ad choices. Visit megaphone.fm/adchoices Sun, 01 Nov 2026 04:15:00 -0000 full Patrick Boyle In today’s video we are going to discuss how to find a job in finance in 2020 and particularly how to find a job in finance during difficult times like during the coronavirus pandemic. What to expect when looking for a job during coronavirus.Visit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePatricks’ Books:Derivatives: https://amzn.to/2yOdRoNCorporate Finance: https://amzn.to/2T56SyuStatistics for Traders https://amzn.to/3dUv8vnThe US economy has shrunk almost 5% in the first quarter of 2020, many experts are predicting the worst economic recession "in our lifetime." The Bank of England is predicting the worst economic slowdown in 300 years. Right now, 33 million US workers are unemployedSo, times are hard, or at least harder than normal, but that should in no way deter you. These jobs are always hard to findIt usually takes 3 - 6 months to find a good jobIn difficult times you just must double your effortsMany of your competitors will feel discouraged and give up – you don’t have to.This job hunt will not be fun, but by the end of it you will have built an amazing skillset and be so much more resilient than before.You have a full-time job right now, and that job is the job huntYou are a salesperson! You will find that you will be selling for your entire career.The seven key steps in your job hunt:1. Inventory your skills and work out how they could be useful to a variety of employers2. Build a high quality cv, have friends check it, eliminate buzzwords and management speak3. Create a list of firms you could apply for. There are lots of great firms that you just haven’t heard of.4. Read the financial press, look for firms that are growing or expanding. They should be high on your list.5. For phone interviews, use “cheat sheets” 6. Apply online to all the big firms7. Find an exhaustive list of big firms on Wikipedia.8. Seek Internships and full-time jobsThat is the easy stuff out of the way.You need to set goals, the goals need to be short term and achievable. You need to break complex tasks down to their simple components. What is the first step?Step 1: get a meeting. Step 2: Then lots of meetings.Build a written plan, judge yourself against it be systematicSet short term goals 1-5-day goalsFind jobs that have not yet been advertisedContact real people not companiesHave a spreadsheet or word file where you keep detailed notes of your meetings.Judge your progress by the results you see, not by the number of applicationsThe job hunt is a numbers game, the moor meetings you get the better your odds are.Prepare for an interview with a friendSearch online for how the interview process works at the firms you are applying to. Find the typical questionsResearch the firm and the people interviewing youPrepare for well-known interview questions, prepare genuine good answers.Keep searching right up until the moment you have signed an employment contract – don’t slow down just because you had a good interviewThe harder you work at your job-hunt the more likely you are to be successful. Learn more about your ad choices. Visit megaphone.fm/adchoices In today’s video we are going to discuss how to find a job in finance in 2020 and particularly how to find a job in finance during difficult times like during the coronavirus pandemic. What to expect when looking for a job during coronavirus.

Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Patricks’ Books:
Derivatives: https://amzn.to/2yOdRoN
Corporate Finance: https://amzn.to/2T56Syu
Statistics for Traders https://amzn.to/3dUv8vn

The US economy has shrunk almost 5% in the first quarter of 2020, many experts are predicting the worst economic recession "in our lifetime."
The Bank of England is predicting the worst economic slowdown in 300 years. Right now, 33 million US workers are unemployed
So, times are hard, or at least harder than normal, but that should in no way deter you. These jobs are always hard to find

It usually takes 3 - 6 months to find a good job
In difficult times you just must double your efforts
Many of your competitors will feel discouraged and give up – you don’t have to.

This job hunt will not be fun, but by the end of it you will have built an amazing skillset and be so much more resilient than before.
You have a full-time job right now, and that job is the job hunt
You are a salesperson! You will find that you will be selling for your entire career.

The seven key steps in your job hunt:
1. Inventory your skills and work out how they could be useful to a variety of employers
2. Build a high quality cv, have friends check it, eliminate buzzwords and management speak
3. Create a list of firms you could apply for. There are lots of great firms that you just haven’t heard of.
4. Read the financial press, look for firms that are growing or expanding. They should be high on your list.
5. For phone interviews, use “cheat sheets”
6. Apply online to all the big firms
7. Find an exhaustive list of big firms on Wikipedia.
8. Seek Internships and full-time jobs

That is the easy stuff out of the way.
You need to set goals, the goals need to be short term and achievable. You need to break complex tasks down to their simple components. What is the first step?
Step 1: get a meeting.
Step 2: Then lots of meetings.
Build a written plan, judge yourself against it be systematic
Set short term goals 1-5-day goals

Find jobs that have not yet been advertised
Contact real people not companies

Have a spreadsheet or word file where you keep detailed notes of your meetings.
Judge your progress by the results you see, not by the number of applications
The job hunt is a numbers game, the moor meetings you get the better your odds are.
Prepare for an interview with a friend
Search online for how the interview process works at the firms you are applying to. Find the typical questions
Research the firm and the people interviewing you
Prepare for well-known interview questions, prepare genuine good answers.
Keep searching right up until the moment you have signed an employment contract – don’t slow down just because you had a good interview
The harder you work at your job-hunt the more likely you are to be successful.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 3069 no Applied Portfolio Management - Class 7 - Hedge Fund Strategies - How Hedge Funds Invest All slides are available on my Patreon page: https://www.patreon.com/PatrickBoyleOnFinanceApplied Portfolio Management - How Hedge Funds Invest.In todays class we learn what a hedge fund is, we learn why people invest in them, and how hedge funds and other alternative investments might add value in a diversified portfolio. We will talk about a number of hedge fund strategies such as long-short equity or market neutral, convertible bond arbitrage, fixed income arbitrage, macro investing, managed futures or CTA's volatility arbitrage and capital structure arbitrage. We will learn how these strategies work, and what the returns look like. Tune in to tomorrows video to learn about more hedge fund strategies.Books mentioned in todays video:When Genius failed by Roger Lowenstein https://amzn.to/2WZt28hBuy Patrick's Book Here: https://amzn.to/2J2kF3AVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices Sun, 01 Nov 2026 03:52:30 -0000 full Patrick Boyle All slides are available on my Patreon page: https://www.patreon.com/PatrickBoyleOnFinanceApplied Portfolio Management - How Hedge Funds Invest.In todays class we learn what a hedge fund is, we learn why people invest in them, and how hedge funds and other alternative investments might add value in a diversified portfolio. We will talk about a number of hedge fund strategies such as long-short equity or market neutral, convertible bond arbitrage, fixed income arbitrage, macro investing, managed futures or CTA's volatility arbitrage and capital structure arbitrage. We will learn how these strategies work, and what the returns look like. Tune in to tomorrows video to learn about more hedge fund strategies.Books mentioned in todays video:When Genius failed by Roger Lowenstein https://amzn.to/2WZt28hBuy Patrick's Book Here: https://amzn.to/2J2kF3AVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices All slides are available on my Patreon page: https://www.patreon.com/PatrickBoyleOnFinance

Applied Portfolio Management - How Hedge Funds Invest.

In todays class we learn what a hedge fund is, we learn why people invest in them, and how hedge funds and other alternative investments might add value in a diversified portfolio. We will talk about a number of hedge fund strategies such as long-short equity or market neutral, convertible bond arbitrage, fixed income arbitrage, macro investing, managed futures or CTA's volatility arbitrage and capital structure arbitrage. We will learn how these strategies work, and what the returns look like. Tune in to tomorrows video to learn about more hedge fund strategies.

Books mentioned in todays video:
When Genius failed by Roger Lowenstein https://amzn.to/2WZt28h


Buy Patrick's Book Here: https://amzn.to/2J2kF3A
Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 4894 no Adam Robinson - Strategy for Investing and for Life Sign up for Compounded Daily at this link: https://www.compoundeddaily.com/Today in a podcast style episode I welcome my friend Adam Robinson who has had possibly the most interesting career of anyone I know. He was a teenage Chess prodigy who trained with Bobby Fischer as Fischer prepared to play Boris Spassky for the 1972 world championship – in what has gone on to be known as The Match of The Century. He was an undergrad at The Wharton School at the University of Pennsylvania and later earned a law degree at Oxford University. He cracked the SAT and other standardized tests launching the Princeton Review Company – which he later sold. Adam is an Artificial Intelligence pioneer, a quantitative trader, a New York Times best-selling author, and an all-round master of strategy. His company Robinson Global Strategies provides macro research to some of the world’s most successful hedge funds. Adam's newest book How Not to be Stupid is one of the very few books to be endorsed by Warren Buffett.Follow Adam on Twitter: https://x.com/iamadamrobinsonAdam Robinson on Amazon: https://amzn.to/4cAXPv3Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sun, 01 Nov 2026 03:30:00 -0000 full Patrick Boyle Sign up for Compounded Daily at this link: https://www.compoundeddaily.com/Today in a podcast style episode I welcome my friend Adam Robinson who has had possibly the most interesting career of anyone I know. He was a teenage Chess prodigy who trained with Bobby Fischer as Fischer prepared to play Boris Spassky for the 1972 world championship – in what has gone on to be known as The Match of The Century. He was an undergrad at The Wharton School at the University of Pennsylvania and later earned a law degree at Oxford University. He cracked the SAT and other standardized tests launching the Princeton Review Company – which he later sold. Adam is an Artificial Intelligence pioneer, a quantitative trader, a New York Times best-selling author, and an all-round master of strategy. His company Robinson Global Strategies provides macro research to some of the world’s most successful hedge funds. Adam's newest book How Not to be Stupid is one of the very few books to be endorsed by Warren Buffett.Follow Adam on Twitter: https://x.com/iamadamrobinsonAdam Robinson on Amazon: https://amzn.to/4cAXPv3Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sign up for Compounded Daily at this link: https://www.compoundeddaily.com/

Today in a podcast style episode I welcome my friend Adam Robinson who has had possibly the most interesting career of anyone I know. He was a teenage Chess prodigy who trained with Bobby Fischer as Fischer prepared to play Boris Spassky for the 1972 world championship – in what has gone on to be known as The Match of The Century. He was an undergrad at The Wharton School at the University of Pennsylvania and later earned a law degree at Oxford University. He cracked the SAT and other standardized tests launching the Princeton Review Company – which he later sold. Adam is an Artificial Intelligence pioneer, a quantitative trader, a New York Times best-selling author, and an all-round master of strategy. His company Robinson Global Strategies provides macro research to some of the world’s most successful hedge funds. Adam's newest book How Not to be Stupid is one of the very few books to be endorsed by Warren Buffett.

Follow Adam on Twitter: https://x.com/iamadamrobinson
Adam Robinson on Amazon: https://amzn.to/4cAXPv3

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 6184 no What Are Financial Derivatives? What Are Financial Derivatives?A Video Explaining what financial derivatives are, who trades them and why? Follow along using the book https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/In this video we will learn who issues derivatives, are they a zero sum game and what are the various underlyings. We will learn a little bit about futures options swaps, credit derivatives etc. We will learn the difference between hedgers and speculatorsFollow me on Twitter here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices Sun, 01 Nov 2026 03:07:30 -0000 full Patrick Boyle What Are Financial Derivatives?A Video Explaining what financial derivatives are, who trades them and why? Follow along using the book https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/In this video we will learn who issues derivatives, are they a zero sum game and what are the various underlyings. We will learn a little bit about futures options swaps, credit derivatives etc. We will learn the difference between hedgers and speculatorsFollow me on Twitter here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices What Are Financial Derivatives?
A Video Explaining what financial derivatives are, who trades them and why?

Follow along using the book https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

In this video we will learn who issues derivatives, are they a zero sum game and what are the various underlyings. We will learn a little bit about futures options swaps, credit derivatives etc. We will learn the difference between hedgers and speculators

Follow me on Twitter here: https://twitter.com/PatrickEBoyle

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 793 no Which Country Is Spending The Most on Coronavirus Bailouts? Which Country is Spending The Most on their COVID-19 Bailout?Paper by Professor Ceyhun Elgin http://web.boun.edu.tr/elgin/COVID_19.pdfBuy Patrick's Book Here: https://amzn.to/2J2kF3AVisit our website: http://onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleAccording to the IMF, by early April countries around the world have approved more than $4.5tn worth of emergency measures. That number has only grown since. In todays video, lets learn which country has the most generous deal and the different approaches they are takingProfessor Elgin of Columbia University recently published a paper titled Economic Policy Responses to a Pandemic where he reviews the different economic policy measures adopted by 166 different countries as a response to the COVID-19 pandemic. He then constructs an Economic Stimulus Index that combines all of the adopted policy measures. In addition, he analyzes how hard-hit various countries were by the pandemic and how that affects the extent of the countries’ economic policy responses. I’ll put a link to his paper in the description below.Japan's response to the pandemic has been among the most aggressive, with a spending package estimated at around 20% of the country's economy. (It is topped only by Malta, which benefits from European Union funds.)That compares to rescue spending estimated at roughly 14% of GDP in the US, 11% in Australia, 8.4% in Canada, 5% in the UK, 1.5% in Colombia and 0.6% in Gambia.That ranking changes significantly if measures beyond spending, such as central bank actions, are considered.In the biggest European countries, government pledges to guarantee new loans provided to businesses hurt by the shutdowns has accounted for a major part of the response. This is put in place to keep banks lending preventing widespread bankruptcies. In the United States the Federal Reserve has stepped in with lending programmes with a similar aim.When we factor in those kinds of actions, France is at the top of the pack in terms of generosity and the UK is now in fifth place, rather than 47th place.Dr. Elgin shows that the biggest responses have occurred in countries that are richer, older - and have fewer hospital beds. Countries like the US and Japan are in a better position to finance new spending, due to investor willingness to buy their bonds, which keeps the interest cost of this spending lower.Dr. Elgin notes that that the various countries are deploying these funds quite differently.In many countries, the aid is targeted at the poor and to those less likely to get assistance through other programmes. Many are conditioned on a person's job or income having been affected by shutdowns.Canada, is providing CAD 2,000 ($1,400) per month for up to four months to those who have lost income due to the pandemic.All Americans earning under $99,000 are to receive as much as $1,200 per adult, while South Korea's central government is sending cheques of up to 1 million won ( $820) to families in the bottom 70% income bracket.Hong Kong,Japan and Singapore are all pursuing similar strategies mailing cheques to working age citizens.In Europe, many countries have opted against one-off bonuses and are relying instead on the existing safety net programmes, like the UK's Universal Credit system, to meet the needs of those who have lost their jobs.A common strategy globally has been government programmes that help cover payrolls for companies suffering from lockdown measures. The idea is that if firms retain staff, this will allow the economy bounce back more quickly once the restrictions are lifted as companies will not have to re hire and retrain staff.The US, has taken a different approach, dedicating more than $650bn to business loans, which do not have to be repaid if firms maintain staffing levels and spend the majority of the funds on wages w Learn more about your ad choices. Visit megaphone.fm/adchoices Sun, 01 Nov 2026 02:45:00 -0000 full Patrick Boyle Which Country is Spending The Most on their COVID-19 Bailout?Paper by Professor Ceyhun Elgin http://web.boun.edu.tr/elgin/COVID_19.pdfBuy Patrick's Book Here: https://amzn.to/2J2kF3AVisit our website: http://onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleAccording to the IMF, by early April countries around the world have approved more than $4.5tn worth of emergency measures. That number has only grown since. In todays video, lets learn which country has the most generous deal and the different approaches they are takingProfessor Elgin of Columbia University recently published a paper titled Economic Policy Responses to a Pandemic where he reviews the different economic policy measures adopted by 166 different countries as a response to the COVID-19 pandemic. He then constructs an Economic Stimulus Index that combines all of the adopted policy measures. In addition, he analyzes how hard-hit various countries were by the pandemic and how that affects the extent of the countries’ economic policy responses. I’ll put a link to his paper in the description below.Japan's response to the pandemic has been among the most aggressive, with a spending package estimated at around 20% of the country's economy. (It is topped only by Malta, which benefits from European Union funds.)That compares to rescue spending estimated at roughly 14% of GDP in the US, 11% in Australia, 8.4% in Canada, 5% in the UK, 1.5% in Colombia and 0.6% in Gambia.That ranking changes significantly if measures beyond spending, such as central bank actions, are considered.In the biggest European countries, government pledges to guarantee new loans provided to businesses hurt by the shutdowns has accounted for a major part of the response. This is put in place to keep banks lending preventing widespread bankruptcies. In the United States the Federal Reserve has stepped in with lending programmes with a similar aim.When we factor in those kinds of actions, France is at the top of the pack in terms of generosity and the UK is now in fifth place, rather than 47th place.Dr. Elgin shows that the biggest responses have occurred in countries that are richer, older - and have fewer hospital beds. Countries like the US and Japan are in a better position to finance new spending, due to investor willingness to buy their bonds, which keeps the interest cost of this spending lower.Dr. Elgin notes that that the various countries are deploying these funds quite differently.In many countries, the aid is targeted at the poor and to those less likely to get assistance through other programmes. Many are conditioned on a person's job or income having been affected by shutdowns.Canada, is providing CAD 2,000 ($1,400) per month for up to four months to those who have lost income due to the pandemic.All Americans earning under $99,000 are to receive as much as $1,200 per adult, while South Korea's central government is sending cheques of up to 1 million won ( $820) to families in the bottom 70% income bracket.Hong Kong,Japan and Singapore are all pursuing similar strategies mailing cheques to working age citizens.In Europe, many countries have opted against one-off bonuses and are relying instead on the existing safety net programmes, like the UK's Universal Credit system, to meet the needs of those who have lost their jobs.A common strategy globally has been government programmes that help cover payrolls for companies suffering from lockdown measures. The idea is that if firms retain staff, this will allow the economy bounce back more quickly once the restrictions are lifted as companies will not have to re hire and retrain staff.The US, has taken a different approach, dedicating more than $650bn to business loans, which do not have to be repaid if firms maintain staffing levels and spend the majority of the funds on wages w Learn more about your ad choices. Visit megaphone.fm/adchoices Which Country is Spending The Most on their COVID-19 Bailout?
Paper by Professor Ceyhun Elgin http://web.boun.edu.tr/elgin/COVID_19.pdf

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According to the IMF, by early April countries around the world have approved more than $4.5tn worth of emergency measures. That number has only grown since. In todays video, lets learn which country has the most generous deal and the different approaches they are taking

Professor Elgin of Columbia University recently published a paper titled Economic Policy Responses to a Pandemic where he reviews the different economic policy measures adopted by 166 different countries as a response to the COVID-19 pandemic. He then constructs an Economic Stimulus Index that combines all of the adopted policy measures. In addition, he analyzes how hard-hit various countries were by the pandemic and how that affects the extent of the countries’ economic policy responses. I’ll put a link to his paper in the description below.
Japan's response to the pandemic has been among the most aggressive, with a spending package estimated at around 20% of the country's economy. (It is topped only by Malta, which benefits from European Union funds.)

That compares to rescue spending estimated at roughly 14% of GDP in the US, 11% in Australia, 8.4% in Canada, 5% in the UK, 1.5% in Colombia and 0.6% in Gambia.

That ranking changes significantly if measures beyond spending, such as central bank actions, are considered.

In the biggest European countries, government pledges to guarantee new loans provided to businesses hurt by the shutdowns has accounted for a major part of the response. This is put in place to keep banks lending preventing widespread bankruptcies.

In the United States the Federal Reserve has stepped in with lending programmes with a similar aim.

When we factor in those kinds of actions, France is at the top of the pack in terms of generosity and the UK is now in fifth place, rather than 47th place.

Dr. Elgin shows that the biggest responses have occurred in countries that are richer, older - and have fewer hospital beds. Countries like the US and Japan are in a better position to finance new spending, due to investor willingness to buy their bonds, which keeps the interest cost of this spending lower.

Dr. Elgin notes that that the various countries are deploying these funds quite differently.

In many countries, the aid is targeted at the poor and to those less likely to get assistance through other programmes. Many are conditioned on a person's job or income having been affected by shutdowns.
Canada, is providing CAD 2,000 ($1,400) per month for up to four months to those who have lost income due to the pandemic.

All Americans earning under $99,000 are to receive as much as $1,200 per adult, while South Korea's central government is sending cheques of up to 1 million won ( $820) to families in the bottom 70% income bracket.
Hong Kong,Japan and Singapore are all pursuing similar strategies mailing cheques to working age citizens.

In Europe, many countries have opted against one-off bonuses and are relying instead on the existing safety net programmes, like the UK's Universal Credit system, to meet the needs of those who have lost their jobs.

A common strategy globally has been government programmes that help cover payrolls for companies suffering from lockdown measures. The idea is that if firms retain staff, this will allow the economy bounce back more quickly once the restrictions are lifted as companies will not have to re hire and retrain staff.

The US, has taken a different approach, dedicating more than $650bn to business loans, which do not have to be repaid if firms maintain staffing levels and spend the majority of the funds on wages w

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]]> 828 no When AI is Just Badly Paid Humans! Secure your privacy with Surfshark! Enter coupon code BOYLE for 4 months EXTRA at https://surfshark.com/boyleIn recent years, a number of companies have been caught claiming to use artificial intelligence while in reality, outsourcing this work to humans. The SEC recently settled with two funds who were misleading investors about their use of the technology. While artificial intelligence has been widely used in industry for decades, not all companies have been truthful with their claims of AI breakthroughs.In today's video we discuss to what extent have big firms been faking AI? Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleFurther Reading:The Turk: The Life and Times of the Famous Eighteenth-Century Chess-Playing Machine by Tom Standage: https://amzn.to/3X3C5lVVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sun, 01 Nov 2026 02:22:30 -0000 full Patrick Boyle Secure your privacy with Surfshark! Enter coupon code BOYLE for 4 months EXTRA at https://surfshark.com/boyleIn recent years, a number of companies have been caught claiming to use artificial intelligence while in reality, outsourcing this work to humans. The SEC recently settled with two funds who were misleading investors about their use of the technology. While artificial intelligence has been widely used in industry for decades, not all companies have been truthful with their claims of AI breakthroughs.In today's video we discuss to what extent have big firms been faking AI? Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleFurther Reading:The Turk: The Life and Times of the Famous Eighteenth-Century Chess-Playing Machine by Tom Standage: https://amzn.to/3X3C5lVVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Secure your privacy with Surfshark! Enter coupon code BOYLE for 4 months EXTRA at https://surfshark.com/boyle

In recent years, a number of companies have been caught claiming to use artificial intelligence while in reality, outsourcing this work to humans. The SEC recently settled with two funds who were misleading investors about their use of the technology. While artificial intelligence has been widely used in industry for decades, not all companies have been truthful with their claims of AI breakthroughs.
In today's video we discuss to what extent have big firms been faking AI?

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Further Reading:
The Turk: The Life and Times of the Famous Eighteenth-Century Chess-Playing Machine by Tom Standage: https://amzn.to/3X3C5lV

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
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]]> 1929 no What Are Exotic Options? In todays video we will learn all about Exotic Options.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat Are Exotic Options?In finance, an exotic option is an option which has features making it more complex than commonly traded vanilla options. Like the more general exotic derivatives they may have several triggers relating to determination of payoff. An exotic option may also include non-standard underlying instrument, developed for a particular client or for a particular market. Exotic options are more complex than options that trade on an exchange, and are generally traded over the counter (OTC). Look-Back Options Look-back options give their owners the right to buy or sell the underlying security at the most attractive price that it actually trades in the cash market over a specified period of time. This time period is typically - but not always - the same time frame as the option's life. Binary Options Binary options (also known as digitals) have a fixed payoff if the option ends up being in the money at expiration, regardless of the extent to which it is in the money. Bermudan OptionsBermudan options are a hybrid between American and European options. Unlike American options (which can be exercised at any time during a specified period) and European options (which can be exercised only at maturity), Bermuda options may be exercised prior to maturity, but only on certain dates. Barrier OptionsBarrier options are options that are either activated or deactivated when the price of the underlying security passes through some predefined value (the barrier). Barrier options have eight different varieties:Up and in call - a call option that's activated if the price of the underlying rises above a certain price level.Up and out call - a call option that's deactivated if the price of the underlying rises above a certain price level.Down and in call - a call option that's activated if the price of the underlying falls below a certain price level.Down and out call - a call option that's deactivated if the price of the underlying falls below a certain price level.Up and in put - a put option that's activated if the price of the underlying rises above a certain price level.Up and out put - a put option that's deactivated if the price of the underlying rises above a certain price level.Down and in put - a put option that's activated if the price of the underlying falls below a certain price level.Down and out put - a put option that's deactivated if the price of the underlying falls below a certain price level.Restrike OptionsThe strike price of these changes if the price of the underlying passes through a barrier price. They're typically written so that the strike price of calls is lowered and the strike price of puts is raised.Asian OptionsAsian options are very similar to look-backs, with the exception that while look-backs are based on the highest or lowest price over a period of time, Asians are based on an average price. These options can be divided into two categories: Asian strike options and Asian expiration options. Compound OptionsCompound options provide their owners with the right to buy or sell another option. These options create positions with greater leverage than traditional options. There are four basic types of compound options:Ca-call - the right to buy a call.Pu-call - the right to sell a call.Ca-put - the right to buy a put.Pu-put - the right to sell a put.Perpetual Zero OptionsAs the name implies, perpetual zero options never expire, and they have a strike price equal to zero. The perpetual right to buy an underlying security at a price of zero has the same val Learn more about your ad choices. Visit megaphone.fm/adchoices Sun, 01 Nov 2026 02:00:00 -0000 full Patrick Boyle In todays video we will learn all about Exotic Options.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat Are Exotic Options?In finance, an exotic option is an option which has features making it more complex than commonly traded vanilla options. Like the more general exotic derivatives they may have several triggers relating to determination of payoff. An exotic option may also include non-standard underlying instrument, developed for a particular client or for a particular market. Exotic options are more complex than options that trade on an exchange, and are generally traded over the counter (OTC). Look-Back Options Look-back options give their owners the right to buy or sell the underlying security at the most attractive price that it actually trades in the cash market over a specified period of time. This time period is typically - but not always - the same time frame as the option's life. Binary Options Binary options (also known as digitals) have a fixed payoff if the option ends up being in the money at expiration, regardless of the extent to which it is in the money. Bermudan OptionsBermudan options are a hybrid between American and European options. Unlike American options (which can be exercised at any time during a specified period) and European options (which can be exercised only at maturity), Bermuda options may be exercised prior to maturity, but only on certain dates. Barrier OptionsBarrier options are options that are either activated or deactivated when the price of the underlying security passes through some predefined value (the barrier). Barrier options have eight different varieties:Up and in call - a call option that's activated if the price of the underlying rises above a certain price level.Up and out call - a call option that's deactivated if the price of the underlying rises above a certain price level.Down and in call - a call option that's activated if the price of the underlying falls below a certain price level.Down and out call - a call option that's deactivated if the price of the underlying falls below a certain price level.Up and in put - a put option that's activated if the price of the underlying rises above a certain price level.Up and out put - a put option that's deactivated if the price of the underlying rises above a certain price level.Down and in put - a put option that's activated if the price of the underlying falls below a certain price level.Down and out put - a put option that's deactivated if the price of the underlying falls below a certain price level.Restrike OptionsThe strike price of these changes if the price of the underlying passes through a barrier price. They're typically written so that the strike price of calls is lowered and the strike price of puts is raised.Asian OptionsAsian options are very similar to look-backs, with the exception that while look-backs are based on the highest or lowest price over a period of time, Asians are based on an average price. These options can be divided into two categories: Asian strike options and Asian expiration options. Compound OptionsCompound options provide their owners with the right to buy or sell another option. These options create positions with greater leverage than traditional options. There are four basic types of compound options:Ca-call - the right to buy a call.Pu-call - the right to sell a call.Ca-put - the right to buy a put.Pu-put - the right to sell a put.Perpetual Zero OptionsAs the name implies, perpetual zero options never expire, and they have a strike price equal to zero. The perpetual right to buy an underlying security at a price of zero has the same val Learn more about your ad choices. Visit megaphone.fm/adchoices In todays video we will learn all about Exotic Options.

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

What Are Exotic Options?

In finance, an exotic option is an option which has features making it more complex than commonly traded vanilla options. Like the more general exotic derivatives they may have several triggers relating to determination of payoff. An exotic option may also include non-standard underlying instrument, developed for a particular client or for a particular market. Exotic options are more complex than options that trade on an exchange, and are generally traded over the counter (OTC).

Look-Back Options
Look-back options give their owners the right to buy or sell the underlying security at the most attractive price that it actually trades in the cash market over a specified period of time. This time period is typically - but not always - the same time frame as the option's life.

Binary Options
Binary options (also known as digitals) have a fixed payoff if the option ends up being in the money at expiration, regardless of the extent to which it is in the money.

Bermudan Options
Bermudan options are a hybrid between American and European options. Unlike American options (which can be exercised at any time during a specified period) and European options (which can be exercised only at maturity), Bermuda options may be exercised prior to maturity, but only on certain dates.

Barrier Options
Barrier options are options that are either activated or deactivated when the price of the underlying security passes through some predefined value (the barrier). Barrier options have eight different varieties:

Up and in call - a call option that's activated if the price of the underlying rises above a certain price level.
Up and out call - a call option that's deactivated if the price of the underlying rises above a certain price level.
Down and in call - a call option that's activated if the price of the underlying falls below a certain price level.
Down and out call - a call option that's deactivated if the price of the underlying falls below a certain price level.
Up and in put - a put option that's activated if the price of the underlying rises above a certain price level.
Up and out put - a put option that's deactivated if the price of the underlying rises above a certain price level.
Down and in put - a put option that's activated if the price of the underlying falls below a certain price level.
Down and out put - a put option that's deactivated if the price of the underlying falls below a certain price level.

Restrike Options
The strike price of these changes if the price of the underlying passes through a barrier price. They're typically written so that the strike price of calls is lowered and the strike price of puts is raised.

Asian Options
Asian options are very similar to look-backs, with the exception that while look-backs are based on the highest or lowest price over a period of time, Asians are based on an average price. These options can be divided into two categories: Asian strike options and Asian expiration options.

Compound Options
Compound options provide their owners with the right to buy or sell another option. These options create positions with greater leverage than traditional options. There are four basic types of compound options:
Ca-call - the right to buy a call.
Pu-call - the right to sell a call.
Ca-put - the right to buy a put.
Pu-put - the right to sell a put.

Perpetual Zero Options
As the name implies, perpetual zero options never expire, and they have a strike price equal to zero. The perpetual right to buy an underlying security at a price of zero has the same val

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 1359 no Order Types Used by Traders and Investors Order Types Used by Traders and Investors - Market Order - Limit Orders - Stop OrdersThese classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleIf you are buying or selling financial products, when you use a market order, you are essentially just requesting the transaction to go through at the next available price. Limit orders are another order type but they limit the price at which the stock is bought or sold. You can place a limit order so that it will buy below a set price or sell above a set price. The main downside of a limit order is that the trade may not go through if the price never gets to the limit you have set. You therefore need to keep on top of your limit orders to ensure it does get bought or sold.The stop order orders the purchase or sale of a stock once it’s reached a certain price. Buy stop orders are put above the current market price and a sell stop order below the current price, with the potential benefit of reducing your loss or protecting your profits.You can also use a stop limit order, which releases a limit order once the stop price has been triggered. Learn more about your ad choices. Visit megaphone.fm/adchoices Sun, 01 Nov 2026 01:37:30 -0000 full Patrick Boyle Order Types Used by Traders and Investors - Market Order - Limit Orders - Stop OrdersThese classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleIf you are buying or selling financial products, when you use a market order, you are essentially just requesting the transaction to go through at the next available price. Limit orders are another order type but they limit the price at which the stock is bought or sold. You can place a limit order so that it will buy below a set price or sell above a set price. The main downside of a limit order is that the trade may not go through if the price never gets to the limit you have set. You therefore need to keep on top of your limit orders to ensure it does get bought or sold.The stop order orders the purchase or sale of a stock once it’s reached a certain price. Buy stop orders are put above the current market price and a sell stop order below the current price, with the potential benefit of reducing your loss or protecting your profits.You can also use a stop limit order, which releases a limit order once the stop price has been triggered. Learn more about your ad choices. Visit megaphone.fm/adchoices Order Types Used by Traders and Investors - Market Order - Limit Orders - Stop Orders

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

If you are buying or selling financial products, when you use a market order, you are essentially just requesting the transaction to go through at the next available price.

Limit orders are another order type but they limit the price at which the stock is bought or sold. You can place a limit order so that it will buy below a set price or sell above a set price. The main downside of a limit order is that the trade may not go through if the price never gets to the limit you have set. You therefore need to keep on top of your limit orders to ensure it does get bought or sold.

The stop order orders the purchase or sale of a stock once it’s reached a certain price.

Buy stop orders are put above the current market price and a sell stop order below the current price, with the potential benefit of reducing your loss or protecting your profits.

You can also use a stop limit order, which releases a limit order once the stop price has been triggered.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 525 no Are the Rich Really Leaving Britain? Ad: 🔒Remove your personal information from the web at https://joindeleteme.com/BOYLE and use code BOYLE for 20% offAre Britain’s millionaires really fleeing the country—or is the “exodus” just a statistical mirage?This video digs into the numbers behind the headlines, from the much-quoted Henley & Partners migration report to the real impact of the UK’s non-dom reforms. We’ll look at what’s actually driving high earners to consider leaving, how tax policy shapes behavior, and why trust in government and value for money matter just as much as the top rate.Along the way, we’ll separate myth from reality, compare the UK’s approach to countries like Sweden and Switzerland, and ask what history can teach us about taxing globally mobile wealth.If you want to understand the real story behind the millionaire migration debate—and what it means for Britain’s future—watch now.Further reading:Tax Policy Associates - Why the rich paid less tax in the 1970s – despite 98% tax rates: https://taxpolicy.org.uk/2025/05/08/tax-rich-1970s-loopholes/Tax Policy Associates - Are Henley & Partners’ millionaire‑migration reports fabricated?: https://taxpolicy.org.uk/2025/07/27/henley-partners-millionaire-migration-report-analysis/Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sun, 01 Nov 2026 01:15:00 -0000 full Patrick Boyle Ad: 🔒Remove your personal information from the web at https://joindeleteme.com/BOYLE and use code BOYLE for 20% offAre Britain’s millionaires really fleeing the country—or is the “exodus” just a statistical mirage?This video digs into the numbers behind the headlines, from the much-quoted Henley & Partners migration report to the real impact of the UK’s non-dom reforms. We’ll look at what’s actually driving high earners to consider leaving, how tax policy shapes behavior, and why trust in government and value for money matter just as much as the top rate.Along the way, we’ll separate myth from reality, compare the UK’s approach to countries like Sweden and Switzerland, and ask what history can teach us about taxing globally mobile wealth.If you want to understand the real story behind the millionaire migration debate—and what it means for Britain’s future—watch now.Further reading:Tax Policy Associates - Why the rich paid less tax in the 1970s – despite 98% tax rates: https://taxpolicy.org.uk/2025/05/08/tax-rich-1970s-loopholes/Tax Policy Associates - Are Henley & Partners’ millionaire‑migration reports fabricated?: https://taxpolicy.org.uk/2025/07/27/henley-partners-millionaire-migration-report-analysis/Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Ad: 🔒Remove your personal information from the web at https://joindeleteme.com/BOYLE and use code BOYLE for 20% off

Are Britain’s millionaires really fleeing the country—or is the “exodus” just a statistical mirage?

This video digs into the numbers behind the headlines, from the much-quoted Henley & Partners migration report to the real impact of the UK’s non-dom reforms. We’ll look at what’s actually driving high earners to consider leaving, how tax policy shapes behavior, and why trust in government and value for money matter just as much as the top rate.

Along the way, we’ll separate myth from reality, compare the UK’s approach to countries like Sweden and Switzerland, and ask what history can teach us about taxing globally mobile wealth.

If you want to understand the real story behind the millionaire migration debate—and what it means for Britain’s future—watch now.

Further reading:

Tax Policy Associates - Why the rich paid less tax in the 1970s – despite 98% tax rates: https://taxpolicy.org.uk/2025/05/08/tax-rich-1970s-loopholes/
Tax Policy Associates - Are Henley & Partners’ millionaire‑migration reports fabricated?: https://taxpolicy.org.uk/2025/07/27/henley-partners-millionaire-migration-report-analysis/

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
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]]> 2099 no What is a Forward Contract? What is a Forward Contract?In finance, a forward contract or simply a forward is a non-standardized contract between two parties to buy or to sell an asset at a specified future time at a price agreed upon today. The party agreeing to buy the underlying asset in the future assumes a long position, and the party agreeing to sell the asset in the future assumes a short position. The price agreed upon is called the delivery price, which is equal to the forward price at the time the contract is entered into.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices Sun, 01 Nov 2026 00:52:30 -0000 full Patrick Boyle What is a Forward Contract?In finance, a forward contract or simply a forward is a non-standardized contract between two parties to buy or to sell an asset at a specified future time at a price agreed upon today. The party agreeing to buy the underlying asset in the future assumes a long position, and the party agreeing to sell the asset in the future assumes a short position. The price agreed upon is called the delivery price, which is equal to the forward price at the time the contract is entered into.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices What is a Forward Contract?
In finance, a forward contract or simply a forward is a non-standardized contract between two parties to buy or to sell an asset at a specified future time at a price agreed upon today. The party agreeing to buy the underlying asset in the future assumes a long position, and the party agreeing to sell the asset in the future assumes a short position. The price agreed upon is called the delivery price, which is equal to the forward price at the time the contract is entered into.

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

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]]> 420 no What Happened At The Berkshire Hathaway Annual Meeting 2020 The Berkshire Hathaway Annual Meeting 2020 was a bit different to usual this year. The Berkshire Annual meeting is often referred to as the Woodstock for Capitalists. The experience goes beyond sitting in an arena and listening to Buffett and co-chairman Charlie Munger riff on the latest goings-on with the company, the stock market, the global economy, and even popular culture. It's a multiday event that gives anyone who attends a new perspective on just how large the Berkshire empire has become and what it means to the company's shareholders.A range of Berkshire-owned businesses usually fill the exhibit hall and offer discounts. With items from See's candy and Borsheims jewelry to the furnishings of the Nebraska Furniture Mart, kitchen accessories from Pampered Chef, and private aviation services from NetJets, just about everyone will be able to find something to check off their shopping lists.This year the event was entirely online with Just Warren Buffett and Greg Abel, vice chairman of non-insurance operations present. The event was livestreamed by Yahoo Finance.Berkshire's chairman and CEO had plenty to say, answering questions compiled by well-known financial journalists and addressing some of the most important issues that Buffett's followers have had on their minds lately. Buffet spoke for a long time about American history and how it is always smart to bet on human progress. He would not say much about how the coronavirus might harm business conditions in the medium term.In early April, Berkshire sold substantial amounts of its holdings in Delta Air Lines and Southwest Airlines, with disclosures necessary because of Berkshire's having held more than 10% of the two airlines' outstanding shares. At the time, it seemed as though Buffett might simply be reducing its positions below 10% to avoid future complications.However, Buffett reported selling a total of $6.5 billion in stock during April, far more than the Delta and Southwest sales that had been reported and also including shares of United Airlines Holdings and American Airlines Group as well. Buffett did not blame airline CEOs, who managed their companies well and did a lot of things right. However, he no longer feels that airlines will ever recover to their pre-coronavirus levels, and even two to three years from now, it's possible that not nearly as many people will be flying. Buffett tried to be optimistic but made many references to some of the worst times in American History. He argued in favor of long term stock ownership, but avoided making any short or medium term positive statements.Check out my other video uploaded this morning where I outlined the contents of the Berkshire Hathaway annual report and discussed the Buffett Indicator and value investing. https://youtu.be/98KmPmczJ5YBuy Patrick's Book Here: https://amzn.to/2J2kF3AVisit our website: http://onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices Sun, 01 Nov 2026 00:30:00 -0000 full Patrick Boyle The Berkshire Hathaway Annual Meeting 2020 was a bit different to usual this year. The Berkshire Annual meeting is often referred to as the Woodstock for Capitalists. The experience goes beyond sitting in an arena and listening to Buffett and co-chairman Charlie Munger riff on the latest goings-on with the company, the stock market, the global economy, and even popular culture. It's a multiday event that gives anyone who attends a new perspective on just how large the Berkshire empire has become and what it means to the company's shareholders.A range of Berkshire-owned businesses usually fill the exhibit hall and offer discounts. With items from See's candy and Borsheims jewelry to the furnishings of the Nebraska Furniture Mart, kitchen accessories from Pampered Chef, and private aviation services from NetJets, just about everyone will be able to find something to check off their shopping lists.This year the event was entirely online with Just Warren Buffett and Greg Abel, vice chairman of non-insurance operations present. The event was livestreamed by Yahoo Finance.Berkshire's chairman and CEO had plenty to say, answering questions compiled by well-known financial journalists and addressing some of the most important issues that Buffett's followers have had on their minds lately. Buffet spoke for a long time about American history and how it is always smart to bet on human progress. He would not say much about how the coronavirus might harm business conditions in the medium term.In early April, Berkshire sold substantial amounts of its holdings in Delta Air Lines and Southwest Airlines, with disclosures necessary because of Berkshire's having held more than 10% of the two airlines' outstanding shares. At the time, it seemed as though Buffett might simply be reducing its positions below 10% to avoid future complications.However, Buffett reported selling a total of $6.5 billion in stock during April, far more than the Delta and Southwest sales that had been reported and also including shares of United Airlines Holdings and American Airlines Group as well. Buffett did not blame airline CEOs, who managed their companies well and did a lot of things right. However, he no longer feels that airlines will ever recover to their pre-coronavirus levels, and even two to three years from now, it's possible that not nearly as many people will be flying. Buffett tried to be optimistic but made many references to some of the worst times in American History. He argued in favor of long term stock ownership, but avoided making any short or medium term positive statements.Check out my other video uploaded this morning where I outlined the contents of the Berkshire Hathaway annual report and discussed the Buffett Indicator and value investing. https://youtu.be/98KmPmczJ5YBuy Patrick's Book Here: https://amzn.to/2J2kF3AVisit our website: http://onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices The Berkshire Hathaway Annual Meeting 2020 was a bit different to usual this year. The Berkshire Annual meeting is often referred to as the Woodstock for Capitalists. The experience goes beyond sitting in an arena and listening to Buffett and co-chairman Charlie Munger riff on the latest goings-on with the company, the stock market, the global economy, and even popular culture. It's a multiday event that gives anyone who attends a new perspective on just how large the Berkshire empire has become and what it means to the company's shareholders.

A range of Berkshire-owned businesses usually fill the exhibit hall and offer discounts. With items from See's candy and Borsheims jewelry to the furnishings of the Nebraska Furniture Mart, kitchen accessories from Pampered Chef, and private aviation services from NetJets, just about everyone will be able to find something to check off their shopping lists.

This year the event was entirely online with Just Warren Buffett and Greg Abel, vice chairman of non-insurance operations present. The event was livestreamed by Yahoo Finance.

Berkshire's chairman and CEO had plenty to say, answering questions compiled by well-known financial journalists and addressing some of the most important issues that Buffett's followers have had on their minds lately.

Buffet spoke for a long time about American history and how it is always smart to bet on human progress. He would not say much about how the coronavirus might harm business conditions in the medium term.

In early April, Berkshire sold substantial amounts of its holdings in Delta Air Lines and Southwest Airlines, with disclosures necessary because of Berkshire's having held more than 10% of the two airlines' outstanding shares. At the time, it seemed as though Buffett might simply be reducing its positions below 10% to avoid future complications.
However, Buffett reported selling a total of $6.5 billion in stock during April, far more than the Delta and Southwest sales that had been reported and also including shares of United Airlines Holdings and American Airlines Group as well.

Buffett did not blame airline CEOs, who managed their companies well and did a lot of things right. However, he no longer feels that airlines will ever recover to their pre-coronavirus levels, and even two to three years from now, it's possible that not nearly as many people will be flying.

Buffett tried to be optimistic but made many references to some of the worst times in American History. He argued in favor of long term stock ownership, but avoided making any short or medium term positive statements.

Check out my other video uploaded this morning where I outlined the contents of the Berkshire Hathaway annual report and discussed the Buffett Indicator and value investing. https://youtu.be/98KmPmczJ5Y


Buy Patrick's Book Here: https://amzn.to/2J2kF3A
Visit our website: http://onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 988 no The Truth About the US Economy! Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 18:01:15 -0000 full Patrick Boyle Learn more about your ad choices. Visit megaphone.fm/adchoices

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]]> 1719 no Applied Portfolio Management - Class 2 - Asset Classes and Returns All slides are available on my Patreon page: https://www.patreon.com/PatrickBoyleOnFinanceTodays class is all about investment asset classes. We examine the different types of investment an investor can put their savings in and try to work out the expected return of these asset classes, the drivers of these returns, and why an investor might be attracted to these different investments. We learn about portfolio construction and diversification.The asset classes we discuss are, fixed income, equities and hybrid instruments like preferred stock and convertible bonds. We learn about real estate or property investments, commodities, foreign exchange and collectibles.Buy The Book Here: https://amzn.to/2J2kF3AVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 18:01:15 -0000 full Patrick Boyle All slides are available on my Patreon page: https://www.patreon.com/PatrickBoyleOnFinanceTodays class is all about investment asset classes. We examine the different types of investment an investor can put their savings in and try to work out the expected return of these asset classes, the drivers of these returns, and why an investor might be attracted to these different investments. We learn about portfolio construction and diversification.The asset classes we discuss are, fixed income, equities and hybrid instruments like preferred stock and convertible bonds. We learn about real estate or property investments, commodities, foreign exchange and collectibles.Buy The Book Here: https://amzn.to/2J2kF3AVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices All slides are available on my Patreon page: https://www.patreon.com/PatrickBoyleOnFinance

Todays class is all about investment asset classes. We examine the different types of investment an investor can put their savings in and try to work out the expected return of these asset classes, the drivers of these returns, and why an investor might be attracted to these different investments. We learn about portfolio construction and diversification.

The asset classes we discuss are, fixed income, equities and hybrid instruments like preferred stock and convertible bonds. We learn about real estate or property investments, commodities, foreign exchange and collectibles.
Buy The Book Here: https://amzn.to/2J2kF3A
Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

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]]> 4442 no Financial Derivatives - Lecture 8 - Monte Carlo Method and Risk Management These full length lectures are being provided for students who are unable to attend live university lectures due to the public health issues associated with Covid 19. I will return to my standard YouTube video format shortly.Buy The Book Here: https://amzn.to/2Qdj9zuVisit our website. www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 17:32:30 -0000 full Patrick Boyle These full length lectures are being provided for students who are unable to attend live university lectures due to the public health issues associated with Covid 19. I will return to my standard YouTube video format shortly.Buy The Book Here: https://amzn.to/2Qdj9zuVisit our website. www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices These full length lectures are being provided for students who are unable to attend live university lectures due to the public health issues associated with Covid 19. I will return to my standard YouTube video format shortly.


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]]> 6635 no Saudi Arabia's Megaproject Disaster! Go to https://ziprecruiter.com/pb to try ZipRecruiter for free today!Saudi Arabia's Neom megaprojects are running into major financial problems according to The Wall Street Journal.After more than $50 billion dollars has been spent the fantasy city has collided with reality.Costs have soared, delays are constant, and the capital expenditure estimates to complete the projects by 2080 have ballooned to $8.8 trillion dollars, which is over 25 times the kingdom's annual budget.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 17:32:30 -0000 full Patrick Boyle Go to https://ziprecruiter.com/pb to try ZipRecruiter for free today!Saudi Arabia's Neom megaprojects are running into major financial problems according to The Wall Street Journal.After more than $50 billion dollars has been spent the fantasy city has collided with reality.Costs have soared, delays are constant, and the capital expenditure estimates to complete the projects by 2080 have ballooned to $8.8 trillion dollars, which is over 25 times the kingdom's annual budget.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Go to https://ziprecruiter.com/pb to try ZipRecruiter for free today!

Saudi Arabia's Neom megaprojects are running into major financial problems according to The Wall Street Journal.

After more than $50 billion dollars has been spent the fantasy city has collided with reality.

Costs have soared, delays are constant, and the capital expenditure estimates to complete the projects by 2080 have ballooned to $8.8 trillion dollars, which is over 25 times the kingdom's annual budget.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
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]]> 1653 no Why Is Russia's Economy Growing? ⬇️ Check out OpenDots ONE below ⬇️Shokz.com: https://sdqk.shokz.com/PatrickBoyle/OpenDotsONE?utm_content=linkAmazon: https://sdqk.shokz.com/PatrickBoyle/Amazon?utm_content=linkSince Russia invaded Ukraine in 2022, its economy has surpassed most expectations. Last year, Russia’s economy grew more than the United States and Europe and on top of that Russian unemployment is at a record low. What is causing this growth and how are wartime economies different? Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 17:03:45 -0000 full Patrick Boyle ⬇️ Check out OpenDots ONE below ⬇️Shokz.com: https://sdqk.shokz.com/PatrickBoyle/OpenDotsONE?utm_content=linkAmazon: https://sdqk.shokz.com/PatrickBoyle/Amazon?utm_content=linkSince Russia invaded Ukraine in 2022, its economy has surpassed most expectations. Last year, Russia’s economy grew more than the United States and Europe and on top of that Russian unemployment is at a record low. What is causing this growth and how are wartime economies different? Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices ⬇️ Check out OpenDots ONE below ⬇️
Shokz.com: https://sdqk.shokz.com/PatrickBoyle/OpenDotsONE?utm_content=link
Amazon: https://sdqk.shokz.com/PatrickBoyle/Amazon?utm_content=link

Since Russia invaded Ukraine in 2022, its economy has surpassed most expectations. Last year, Russia’s economy grew more than the United States and Europe and on top of that Russian unemployment is at a record low. What is causing this growth and how are wartime economies different?

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
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Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2039 no What are index options? What are currency options? In todays video we will learn about options on foreign exchange and index options.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleOptions on Stock Indices - what are index options?A stock market index is a method of measuring the price movements of a basket of stocks in a market. Many indices are cited by the media and are used as benchmarks to measure the performance of portfolios such as mutual funds. Some are price indices and some are total return indices, meaning that they include reinvested dividends over time.There are a number of different index types. National indices represent the performance of the stock market of a given nation. Sector indices track the performance of specific industry sectors in the market. Ethical indices include only those companies that satisfy certain ecological, religious, or social criteria.Index options exist on broad-based indices like the S&P500 or the Russell 3000. They also exist on more narrowly based indices like mining indices or semiconductor indices. The global market for exchange-traded stock market index options is notionally valued by the Bank for International Settlements at hundreds of billions per year. When OTC options are added to that, you can see that it is a very large market indeed.An index option is a financial derivative that gives the holder the right, but not the obligation, to buy or sell a basket of stocks, such as the S&P500, at a pre-agreed price on a specified date. An index option is similar to other options contracts, the difference being the underlying instruments are indexes. Index options are typically cash settled.Uses of Index OptionsThere are two main reasons that investors will pursue index options.1. Portfolio insurance: Investors with large stock portfolios may wish to insure their downside risk by buying put options. 2. Speculation: Portfolio managers may wish to use index options to speculate on the direction of the overall market, or on the volatility of the overall market.Foreign Exchange Options - What are currency options?A foreign exchange option is a derivative where the owner has the right but not the obligation to exchange money denominated in one currency into another currency at a pre-agreed exchange rate on a specified date. European and American options on foreign exchange are actively traded on both exchanges and OTC. Companies frequently use them to hedge foreign exchange risk, and they are commonly used to speculate on the price and volatility of various foreign exchange pairs. The foreign exchange options market is mostly an OTC market. A GBP/USD foreign exchange call option, can also be viewed as being a USD/GBP put option, as they each give the option owner the right but not the obligation to exchange a certain amount of US dollars for British pounds at a pre-agreed exchange rate on a specified date. The Black-Scholes model can be modified to price options on foreign exchange. The modified Black-Scholes model was developed in 1983 by Garman and Kohlhagen and is known as the Garman-Kohlhagen model. It is a modification of the Black-Scholes model which accounts for the different interest rates of each currency.You can think of options on currencies as being an options position with an annual percentage dividend embedded in the form of the foreign currencies’ risk-free rate. Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 17:03:45 -0000 full Patrick Boyle In todays video we will learn about options on foreign exchange and index options.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleOptions on Stock Indices - what are index options?A stock market index is a method of measuring the price movements of a basket of stocks in a market. Many indices are cited by the media and are used as benchmarks to measure the performance of portfolios such as mutual funds. Some are price indices and some are total return indices, meaning that they include reinvested dividends over time.There are a number of different index types. National indices represent the performance of the stock market of a given nation. Sector indices track the performance of specific industry sectors in the market. Ethical indices include only those companies that satisfy certain ecological, religious, or social criteria.Index options exist on broad-based indices like the S&P500 or the Russell 3000. They also exist on more narrowly based indices like mining indices or semiconductor indices. The global market for exchange-traded stock market index options is notionally valued by the Bank for International Settlements at hundreds of billions per year. When OTC options are added to that, you can see that it is a very large market indeed.An index option is a financial derivative that gives the holder the right, but not the obligation, to buy or sell a basket of stocks, such as the S&P500, at a pre-agreed price on a specified date. An index option is similar to other options contracts, the difference being the underlying instruments are indexes. Index options are typically cash settled.Uses of Index OptionsThere are two main reasons that investors will pursue index options.1. Portfolio insurance: Investors with large stock portfolios may wish to insure their downside risk by buying put options. 2. Speculation: Portfolio managers may wish to use index options to speculate on the direction of the overall market, or on the volatility of the overall market.Foreign Exchange Options - What are currency options?A foreign exchange option is a derivative where the owner has the right but not the obligation to exchange money denominated in one currency into another currency at a pre-agreed exchange rate on a specified date. European and American options on foreign exchange are actively traded on both exchanges and OTC. Companies frequently use them to hedge foreign exchange risk, and they are commonly used to speculate on the price and volatility of various foreign exchange pairs. The foreign exchange options market is mostly an OTC market. A GBP/USD foreign exchange call option, can also be viewed as being a USD/GBP put option, as they each give the option owner the right but not the obligation to exchange a certain amount of US dollars for British pounds at a pre-agreed exchange rate on a specified date. The Black-Scholes model can be modified to price options on foreign exchange. The modified Black-Scholes model was developed in 1983 by Garman and Kohlhagen and is known as the Garman-Kohlhagen model. It is a modification of the Black-Scholes model which accounts for the different interest rates of each currency.You can think of options on currencies as being an options position with an annual percentage dividend embedded in the form of the foreign currencies’ risk-free rate. Learn more about your ad choices. Visit megaphone.fm/adchoices In todays video we will learn about options on foreign exchange and index options.

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

Options on Stock Indices - what are index options?
A stock market index is a method of measuring the price movements of a basket of stocks in a market. Many indices are cited by the media and are used as benchmarks to measure the performance of portfolios such as mutual funds. Some are price indices and some are total return indices, meaning that they include reinvested dividends over time.
There are a number of different index types. National indices represent the performance of the stock market of a given nation. Sector indices track the performance of specific industry sectors in the market. Ethical indices include only those companies that satisfy certain ecological, religious, or social criteria.
Index options exist on broad-based indices like the S&P500 or the Russell 3000. They also exist on more narrowly based indices like mining indices or semiconductor indices. The global market for exchange-traded stock market index options is notionally valued by the Bank for International Settlements at hundreds of billions per year. When OTC options are added to that, you can see that it is a very large market indeed.
An index option is a financial derivative that gives the holder the right, but not the obligation, to buy or sell a basket of stocks, such as the S&P500, at a pre-agreed price on a specified date. An index option is similar to other options contracts, the difference being the underlying instruments are indexes. Index options are typically cash settled.

Uses of Index Options
There are two main reasons that investors will pursue index options.
1. Portfolio insurance: Investors with large stock portfolios may wish to insure their downside risk by buying put options.
2. Speculation: Portfolio managers may wish to use index options to speculate on the direction of the overall market, or on the volatility of the overall market.

Foreign Exchange Options - What are currency options?
A foreign exchange option is a derivative where the owner has the right but not the obligation to exchange money denominated in one currency into another currency at a pre-agreed exchange rate on a specified date. European and American options on foreign exchange are actively traded on both exchanges and OTC. Companies frequently use them to hedge foreign exchange risk, and they are commonly used to speculate on the price and volatility of various foreign exchange pairs. The foreign exchange options market is mostly an OTC market.
A GBP/USD foreign exchange call option, can also be viewed as being a USD/GBP put option, as they each give the option owner the right but not the obligation to exchange a certain amount of US dollars for British pounds at a pre-agreed exchange rate on a specified date.
The Black-Scholes model can be modified to price options on foreign exchange. The modified Black-Scholes model was developed in 1983 by Garman and Kohlhagen and is known as the Garman-Kohlhagen model. It is a modification of the Black-Scholes model which accounts for the different interest rates of each currency.
You can think of options on currencies as being an options position with an annual percentage dividend embedded in the form of the foreign currencies’ risk-free rate.

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]]> 1047 no The Real Reason You Can't Afford a House Stop paying for GPT, Claude, and Gemini separately. 🙅‍♂️Genspark puts them all in one workspace. One subscription. Three killer features:🔍 Fact Check – 30 rounds of live verification with source proof📝 AI Meeting Notes – Record on your phone, auto-share professional notes🎨 AI Designer – Thumbnails, social graphics, anything you needNew users get free credits. Paid subscribers get unlimited AI Chat + AI Image for 2026.Try Genspark today 👉https://www.genspark.ai/?utm_source=yt&utm_campaign=PBoyle04@GensparkProduct #Genspark #ai #WorkWithGensparkA three-bedroom "dunger" in New Zealand with peeling paint and boarded-up windows sold for 1.81 million dollars at the peak of the boom. A few years later, prices had fallen by as much as a third in real terms, recent buyers were trapped in negative equity, and thousands of construction firms had gone under. In this video we look at how a national housing boom turns into a bust, why house prices became so unaffordable in the first place, and what it means for an economy when the family home stops being a place to live and becomes a leveraged investment.Along the way we cover the interest-rate math behind home affordability and why falling mortgage rates inflated prices for forty years, the politics of why governments keep house prices rising, why high housing costs drive young workers to emigrate, and the lessons from past property crashes in Japan, the United States, and Ireland. We also look at Henry George's argument for a land value tax, Edward Leamer's "Housing IS the Business Cycle," and why an efficient property market matters for the whole economy. Whether you're in the US, UK, Canada, Australia, or anywhere else watching house prices climb out of reach, the underlying dynamics are the same.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 16:35:00 -0000 full Patrick Boyle Stop paying for GPT, Claude, and Gemini separately. 🙅‍♂️Genspark puts them all in one workspace. One subscription. Three killer features:🔍 Fact Check – 30 rounds of live verification with source proof📝 AI Meeting Notes – Record on your phone, auto-share professional notes🎨 AI Designer – Thumbnails, social graphics, anything you needNew users get free credits. Paid subscribers get unlimited AI Chat + AI Image for 2026.Try Genspark today 👉https://www.genspark.ai/?utm_source=yt&utm_campaign=PBoyle04@GensparkProduct #Genspark #ai #WorkWithGensparkA three-bedroom "dunger" in New Zealand with peeling paint and boarded-up windows sold for 1.81 million dollars at the peak of the boom. A few years later, prices had fallen by as much as a third in real terms, recent buyers were trapped in negative equity, and thousands of construction firms had gone under. In this video we look at how a national housing boom turns into a bust, why house prices became so unaffordable in the first place, and what it means for an economy when the family home stops being a place to live and becomes a leveraged investment.Along the way we cover the interest-rate math behind home affordability and why falling mortgage rates inflated prices for forty years, the politics of why governments keep house prices rising, why high housing costs drive young workers to emigrate, and the lessons from past property crashes in Japan, the United States, and Ireland. We also look at Henry George's argument for a land value tax, Edward Leamer's "Housing IS the Business Cycle," and why an efficient property market matters for the whole economy. Whether you're in the US, UK, Canada, Australia, or anywhere else watching house prices climb out of reach, the underlying dynamics are the same.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Stop paying for GPT, Claude, and Gemini separately. 🙅‍♂️

Genspark puts them all in one workspace. One subscription. Three killer features:

🔍 Fact Check – 30 rounds of live verification with source proof
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New users get free credits. Paid subscribers get unlimited AI Chat + AI Image for 2026.

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@GensparkProduct
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A three-bedroom "dunger" in New Zealand with peeling paint and boarded-up windows sold for 1.81 million dollars at the peak of the boom. A few years later, prices had fallen by as much as a third in real terms, recent buyers were trapped in negative equity, and thousands of construction firms had gone under. In this video we look at how a national housing boom turns into a bust, why house prices became so unaffordable in the first place, and what it means for an economy when the family home stops being a place to live and becomes a leveraged investment.

Along the way we cover the interest-rate math behind home affordability and why falling mortgage rates inflated prices for forty years, the politics of why governments keep house prices rising, why high housing costs drive young workers to emigrate, and the lessons from past property crashes in Japan, the United States, and Ireland. We also look at Henry George's argument for a land value tax, Edward Leamer's "Housing IS the Business Cycle," and why an efficient property market matters for the whole economy. Whether you're in the US, UK, Canada, Australia, or anywhere else watching house prices climb out of reach, the underlying dynamics are the same.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
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]]> 2205 no AAA Rated Junk: What Tricolor and First Brands Reveal About Credit Markets! Get an exclusive 15% discount on Saily data plans! Use code BOYLE at checkout. Download Saily app or go to https://saily.com/boyleTwo companies collapsed last month. One sold used cars, the other distributed brake pads and spark plugs. Both issued debt rated AAA. Now their bonds are trading at cents on the dollar—and Wall Street is pretending not to notice.In this video, we dig into down the bankruptcies of Tricolor Holdings and First Brands Group to understand what they reveal about private credit, and why supposedly safe securities are starting to look a lot less safe. We’ll look at hidden leverage, double-pledged collateral, shadow banking, and the growing disconnect between risk and reward in today’s credit markets.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 16:35:00 -0000 full Patrick Boyle Get an exclusive 15% discount on Saily data plans! Use code BOYLE at checkout. Download Saily app or go to https://saily.com/boyleTwo companies collapsed last month. One sold used cars, the other distributed brake pads and spark plugs. Both issued debt rated AAA. Now their bonds are trading at cents on the dollar—and Wall Street is pretending not to notice.In this video, we dig into down the bankruptcies of Tricolor Holdings and First Brands Group to understand what they reveal about private credit, and why supposedly safe securities are starting to look a lot less safe. We’ll look at hidden leverage, double-pledged collateral, shadow banking, and the growing disconnect between risk and reward in today’s credit markets.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Get an exclusive 15% discount on Saily data plans! Use code BOYLE at checkout. Download Saily app or go to https://saily.com/boyle

Two companies collapsed last month. One sold used cars, the other distributed brake pads and spark plugs. Both issued debt rated AAA. Now their bonds are trading at cents on the dollar—and Wall Street is pretending not to notice.
In this video, we dig into down the bankruptcies of Tricolor Holdings and First Brands Group to understand what they reveal about private credit, and why supposedly safe securities are starting to look a lot less safe. We’ll look at hidden leverage, double-pledged collateral, shadow banking, and the growing disconnect between risk and reward in today’s credit markets.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 1931 no What Is Options Delta? The Options Greeks These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is Options Delta?The first Greek we will learn about in this video series is Delta, which measures how much an option's price will change for a 1% change in the price of the underlying security or index. For example, a Delta of 0.40 means that the option's price will theoretically move $0.40 for every $1 move in the price of the underlying stock or index.Call optionsHave a positive Delta that can range from zero to 1.00.At-the-money options usually have a Delta near .50.The Delta will increase (and approach 1.00) as the option gets deeper in the money.The Delta of in-the-money call options will get closer to 1.00 as expiration approaches.The Delta of out-of-the-money call options will get closer to zero as expiration approaches.Put option DeltaPut options have a negative Delta that can range from zero to -1.00.At-the-money options usually have a Delta near -.50.The Delta will decrease (and approach -1.00) as the option gets deeper in the money.The Delta of in-the-money put options will get closer to -1.00 as expiration approaches.The Delta of out-of-the-money put options will get closer to zero as expiration approaches.You also might think of Delta, as the percent chance (or probability) that a given option will expire in the money.For example, a Delta of 0.40 means the option has about a 40% chance of being in the money at expiration. This doesn’t mean your trade will be profitable. That of course, depends on the price at which you bought or sold the option.You also might think of Delta, as the number of shares of the underlying stock, the option behaves like.A Delta of 0.40 also means that given a $1 move in the underlying stock, the option will likely gain or lose about the same amount of money as 40 shares of the stock.Tune in tomorrow for a video on Delta Hedging. Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 16:06:15 -0000 full Patrick Boyle These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is Options Delta?The first Greek we will learn about in this video series is Delta, which measures how much an option's price will change for a 1% change in the price of the underlying security or index. For example, a Delta of 0.40 means that the option's price will theoretically move $0.40 for every $1 move in the price of the underlying stock or index.Call optionsHave a positive Delta that can range from zero to 1.00.At-the-money options usually have a Delta near .50.The Delta will increase (and approach 1.00) as the option gets deeper in the money.The Delta of in-the-money call options will get closer to 1.00 as expiration approaches.The Delta of out-of-the-money call options will get closer to zero as expiration approaches.Put option DeltaPut options have a negative Delta that can range from zero to -1.00.At-the-money options usually have a Delta near -.50.The Delta will decrease (and approach -1.00) as the option gets deeper in the money.The Delta of in-the-money put options will get closer to -1.00 as expiration approaches.The Delta of out-of-the-money put options will get closer to zero as expiration approaches.You also might think of Delta, as the percent chance (or probability) that a given option will expire in the money.For example, a Delta of 0.40 means the option has about a 40% chance of being in the money at expiration. This doesn’t mean your trade will be profitable. That of course, depends on the price at which you bought or sold the option.You also might think of Delta, as the number of shares of the underlying stock, the option behaves like.A Delta of 0.40 also means that given a $1 move in the underlying stock, the option will likely gain or lose about the same amount of money as 40 shares of the stock.Tune in tomorrow for a video on Delta Hedging. Learn more about your ad choices. Visit megaphone.fm/adchoices These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

What is Options Delta?

The first Greek we will learn about in this video series is Delta, which measures how much an option's price will change for a 1% change in the price of the underlying security or index. For example, a Delta of 0.40 means that the option's price will theoretically move $0.40 for every $1 move in the price of the underlying stock or index.

Call options

Have a positive Delta that can range from zero to 1.00.
At-the-money options usually have a Delta near .50.
The Delta will increase (and approach 1.00) as the option gets deeper in the money.
The Delta of in-the-money call options will get closer to 1.00 as expiration approaches.
The Delta of out-of-the-money call options will get closer to zero as expiration approaches.

Put option Delta

Put options have a negative Delta that can range from zero to -1.00.
At-the-money options usually have a Delta near -.50.
The Delta will decrease (and approach -1.00) as the option gets deeper in the money.
The Delta of in-the-money put options will get closer to -1.00 as expiration approaches.
The Delta of out-of-the-money put options will get closer to zero as expiration approaches.
You also might think of Delta, as the percent chance (or probability) that a given option will expire in the money.

For example, a Delta of 0.40 means the option has about a 40% chance of being in the money at expiration. This doesn’t mean your trade will be profitable. That of course, depends on the price at which you bought or sold the option.

You also might think of Delta, as the number of shares of the underlying stock, the option behaves like.

A Delta of 0.40 also means that given a $1 move in the underlying stock, the option will likely gain or lose about the same amount of money as 40 shares of the stock.


Tune in tomorrow for a video on Delta Hedging.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 872 no What is a Put Spread? | Options Trading Strategies | Option Combinations What is a Put Spread? - Options Trading StrategiesThese classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is an Options Put Spread?A put spread is an option spread strategy that involves buying and selling an equal number of put options simultaneously. Unlike the put buying strategy in which the profit potential is unlimited, the maximum profit generated by put spreads are limited but this strategy is relatively cheaper to employ. Unlike the outright purchase of put options which might only be employed by bearish investors, put spreads can be constructed to profit from a bull, bear or neutral market.One of the most basic spread strategies to implement in options trading is the vertical spread. A vertical put spread is created when the short puts and the long puts have the same expiration date but different strike prices. Vertical put spreads can be bullish or bearish.The vertical bull put spread, or 'bull put spread', is used when the option trader thinks that the underlying security's price will rise before the put options expire.The vertical bear put spread, or 'bear put spread', is employed by the option trader who believes that the price of the underlying security will fall before the put options expire.What is a Calendar (Horizontal) Put Spread?A calendar put spread is created when long term put options are bought and near term put options with the same strike price are sold. Depending on the near term outlook, either the neutral calendar put spread or the bear calendar put spread can be employed.What Is a Neutral Calendar Put Spread?When the option trader's near term outlook on the underlying is neutral, a neutral calendar put spread can be implemented using at-the-money put options to construct the spread. The main objective of the neutral calendar put spread strategy is to profit from the rapid time decay of the near term options.What is a Bear Calendar Put Spread?Investors employing the bear calendar put spread are bearish on the underlying on the long term and are selling the near term puts with the intention of riding the long term puts for a discount and sometimes even for free. Out-of-the-money put options are used to construct the bear calendar put spread.What is a Diagonal Put Spread?A diagonal put spread is created when long term put options are bought and near term put options with a higher strike price are sold. The diagonal put spread is actually very similar to the bear calendar put spread. The main difference is that the near term outlook of the diagonal bear put spread is slightly more bearish.If you are new to options and derivatives make sure you watch Patricks other videos on this topic. The videos are mostly separated into playlists sorted by topic. Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 16:06:15 -0000 full Patrick Boyle What is a Put Spread? - Options Trading StrategiesThese classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is an Options Put Spread?A put spread is an option spread strategy that involves buying and selling an equal number of put options simultaneously. Unlike the put buying strategy in which the profit potential is unlimited, the maximum profit generated by put spreads are limited but this strategy is relatively cheaper to employ. Unlike the outright purchase of put options which might only be employed by bearish investors, put spreads can be constructed to profit from a bull, bear or neutral market.One of the most basic spread strategies to implement in options trading is the vertical spread. A vertical put spread is created when the short puts and the long puts have the same expiration date but different strike prices. Vertical put spreads can be bullish or bearish.The vertical bull put spread, or 'bull put spread', is used when the option trader thinks that the underlying security's price will rise before the put options expire.The vertical bear put spread, or 'bear put spread', is employed by the option trader who believes that the price of the underlying security will fall before the put options expire.What is a Calendar (Horizontal) Put Spread?A calendar put spread is created when long term put options are bought and near term put options with the same strike price are sold. Depending on the near term outlook, either the neutral calendar put spread or the bear calendar put spread can be employed.What Is a Neutral Calendar Put Spread?When the option trader's near term outlook on the underlying is neutral, a neutral calendar put spread can be implemented using at-the-money put options to construct the spread. The main objective of the neutral calendar put spread strategy is to profit from the rapid time decay of the near term options.What is a Bear Calendar Put Spread?Investors employing the bear calendar put spread are bearish on the underlying on the long term and are selling the near term puts with the intention of riding the long term puts for a discount and sometimes even for free. Out-of-the-money put options are used to construct the bear calendar put spread.What is a Diagonal Put Spread?A diagonal put spread is created when long term put options are bought and near term put options with a higher strike price are sold. The diagonal put spread is actually very similar to the bear calendar put spread. The main difference is that the near term outlook of the diagonal bear put spread is slightly more bearish.If you are new to options and derivatives make sure you watch Patricks other videos on this topic. The videos are mostly separated into playlists sorted by topic. Learn more about your ad choices. Visit megaphone.fm/adchoices What is a Put Spread? - Options Trading Strategies

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

What is an Options Put Spread?
A put spread is an option spread strategy that involves buying and selling an equal number of put options simultaneously. Unlike the put buying strategy in which the profit potential is unlimited, the maximum profit generated by put spreads are limited but this strategy is relatively cheaper to employ. Unlike the outright purchase of put options which might only be employed by bearish investors, put spreads can be constructed to profit from a bull, bear or neutral market.

One of the most basic spread strategies to implement in options trading is the vertical spread. A vertical put spread is created when the short puts and the long puts have the same expiration date but different strike prices. Vertical put spreads can be bullish or bearish.

The vertical bull put spread, or 'bull put spread', is used when the option trader thinks that the underlying security's price will rise before the put options expire.

The vertical bear put spread, or 'bear put spread', is employed by the option trader who believes that the price of the underlying security will fall before the put options expire.

What is a Calendar (Horizontal) Put Spread?
A calendar put spread is created when long term put options are bought and near term put options with the same strike price are sold. Depending on the near term outlook, either the neutral calendar put spread or the bear calendar put spread can be employed.

What Is a Neutral Calendar Put Spread?
When the option trader's near term outlook on the underlying is neutral, a neutral calendar put spread can be implemented using at-the-money put options to construct the spread. The main objective of the neutral calendar put spread strategy is to profit from the rapid time decay of the near term options.

What is a Bear Calendar Put Spread?
Investors employing the bear calendar put spread are bearish on the underlying on the long term and are selling the near term puts with the intention of riding the long term puts for a discount and sometimes even for free. Out-of-the-money put options are used to construct the bear calendar put spread.

What is a Diagonal Put Spread?
A diagonal put spread is created when long term put options are bought and near term put options with a higher strike price are sold. The diagonal put spread is actually very similar to the bear calendar put spread. The main difference is that the near term outlook of the diagonal bear put spread is slightly more bearish.

If you are new to options and derivatives make sure you watch Patricks other videos on this topic. The videos are mostly separated into playlists sorted by topic.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 582 no What are Currency Swaps? In todays video we learn about currency swaps.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat are currency swaps?A currency swap is a financial derivatives agreement in which two parties exchange the principal amount of a loan and the interest in one currency for the principal and interest in another currency.At the inception of the swap, the equivalent principal amounts are exchanged at the spot rate.During the length of the swap each party pays the interest on the swapped principal loan amount.At the end of the swap the principal amounts are swapped back at either the prevailing spot rate, or at a pre-agreed rate such as the rate of the original exchange of principals. Using the original rate would remove transaction risk on the swap.Currency swaps are used to obtain foreign currency loans at a better interest rate than a company could obtain by borrowing directly in a foreign market or as a method of hedging transaction risk on foreign currency loans which it has already taken out. Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 15:37:30 -0000 full Patrick Boyle In todays video we learn about currency swaps.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat are currency swaps?A currency swap is a financial derivatives agreement in which two parties exchange the principal amount of a loan and the interest in one currency for the principal and interest in another currency.At the inception of the swap, the equivalent principal amounts are exchanged at the spot rate.During the length of the swap each party pays the interest on the swapped principal loan amount.At the end of the swap the principal amounts are swapped back at either the prevailing spot rate, or at a pre-agreed rate such as the rate of the original exchange of principals. Using the original rate would remove transaction risk on the swap.Currency swaps are used to obtain foreign currency loans at a better interest rate than a company could obtain by borrowing directly in a foreign market or as a method of hedging transaction risk on foreign currency loans which it has already taken out. Learn more about your ad choices. Visit megaphone.fm/adchoices In todays video we learn about currency swaps.

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

What are currency swaps?
A currency swap is a financial derivatives agreement in which two parties exchange the principal amount of a loan and the interest in one currency for the principal and interest in another currency.

At the inception of the swap, the equivalent principal amounts are exchanged at the spot rate.

During the length of the swap each party pays the interest on the swapped principal loan amount.

At the end of the swap the principal amounts are swapped back at either the prevailing spot rate, or at a pre-agreed rate such as the rate of the original exchange of principals. Using the original rate would remove transaction risk on the swap.

Currency swaps are used to obtain foreign currency loans at a better interest rate than a company could obtain by borrowing directly in a foreign market or as a method of hedging transaction risk on foreign currency loans which it has already taken out.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 507 no Sales Down, Pay Up: Inside Tesla’s Strange New Reality! Experience the smarter way to shop for clothes. Explore Tailor Store's made-to-order collection and embrace quality, custom fit, and zero waste ➡️ https://www.tailorstore.com/patrickboyleTesla’s sales are falling across the globe—from the UK to China to California. So why did the board just hand Elon Musk a $29 billion pay package? In this video, we break down the contradictions at the heart of Tesla’s current moment: collapsing demand, the Cybertruck debacle, the robotaxi fantasy, and a boardroom that seems more loyal to Musk than to shareholders.We’ll explore:Why Tesla’s fundamentals are weakeningHow Musk’s pay compares to other CEOsThe governance crisis behind the headlinesWhether Tesla is still a growth company—or just a cult stockThis isn’t just about one company. It’s about how corporate governance is bending under the weight of celebrity, and what happens when hype outpaces performance.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 15:37:30 -0000 full Patrick Boyle Experience the smarter way to shop for clothes. Explore Tailor Store's made-to-order collection and embrace quality, custom fit, and zero waste ➡️ https://www.tailorstore.com/patrickboyleTesla’s sales are falling across the globe—from the UK to China to California. So why did the board just hand Elon Musk a $29 billion pay package? In this video, we break down the contradictions at the heart of Tesla’s current moment: collapsing demand, the Cybertruck debacle, the robotaxi fantasy, and a boardroom that seems more loyal to Musk than to shareholders.We’ll explore:Why Tesla’s fundamentals are weakeningHow Musk’s pay compares to other CEOsThe governance crisis behind the headlinesWhether Tesla is still a growth company—or just a cult stockThis isn’t just about one company. It’s about how corporate governance is bending under the weight of celebrity, and what happens when hype outpaces performance.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Experience the smarter way to shop for clothes. Explore Tailor Store's made-to-order collection and embrace quality, custom fit, and zero waste ➡️ https://www.tailorstore.com/patrickboyle

Tesla’s sales are falling across the globe—from the UK to China to California. So why did the board just hand Elon Musk a $29 billion pay package? In this video, we break down the contradictions at the heart of Tesla’s current moment: collapsing demand, the Cybertruck debacle, the robotaxi fantasy, and a boardroom that seems more loyal to Musk than to shareholders.

We’ll explore:

Why Tesla’s fundamentals are weakening
How Musk’s pay compares to other CEOs
The governance crisis behind the headlines
Whether Tesla is still a growth company—or just a cult stock
This isn’t just about one company. It’s about how corporate governance is bending under the weight of celebrity, and what happens when hype outpaces performance.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2476 no Applied Portfolio Management Private Equity | Leveraged Buyouts | Venture Capital All slides are available on my Patreon page: https://www.patreon.com/PatrickBoyleOnFinanceIn todays Applied Portfolio Management class we learn about private equity, venture capital, growth capital funds and venture capital. We learn about fund structures, risk and historic returns.Some books mentioned in the videoCorporate Finance by McDougall and Boyle https://amzn.to/3arsuvHZero to One by Peter Thiel https://amzn.to/2yidbHxBarbarians at the Gate. https://amzn.to/2UE07UkThe film Wall Street: https://amzn.to/2WSHVciTrading and Pricing Financial Derivatives: https://amzn.to/2J2kF3AVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 15:08:45 -0000 full Patrick Boyle All slides are available on my Patreon page: https://www.patreon.com/PatrickBoyleOnFinanceIn todays Applied Portfolio Management class we learn about private equity, venture capital, growth capital funds and venture capital. We learn about fund structures, risk and historic returns.Some books mentioned in the videoCorporate Finance by McDougall and Boyle https://amzn.to/3arsuvHZero to One by Peter Thiel https://amzn.to/2yidbHxBarbarians at the Gate. https://amzn.to/2UE07UkThe film Wall Street: https://amzn.to/2WSHVciTrading and Pricing Financial Derivatives: https://amzn.to/2J2kF3AVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices All slides are available on my Patreon page: https://www.patreon.com/PatrickBoyleOnFinance

In todays Applied Portfolio Management class we learn about private equity, venture capital, growth capital funds and venture capital. We learn about fund structures, risk and historic returns.

Some books mentioned in the video

Corporate Finance by McDougall and Boyle https://amzn.to/3arsuvH
Zero to One by Peter Thiel https://amzn.to/2yidbHx
Barbarians at the Gate. https://amzn.to/2UE07Uk

The film Wall Street: https://amzn.to/2WSHVci

Trading and Pricing Financial Derivatives: https://amzn.to/2J2kF3A
Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 4458 no The $3.5 Trillion Crisis No One Is Talking About If you’re ready to level up your AI leadership skills, head to https://masterclass.yt.link/5o4X21q to get 15% off the Lead with AI Certificate from MasterClass and Microsoft.While the world is distracted by global conflict, a panic is building in the private credit market. In this video, we go inside the opaque world of Private Credit - examine the "Golden Age" of lending that is rapidly turning into a slow-motion crisis. From the "volatility laundering" tricks used by managers to hide billion-dollar losses to the "Exit Trap" currently catching retail investors in BDCs, we explore how the search for yield led Wall Street directly to your 401(k). We look at why insiders like Boaz Weinstein are calling this a scandal, and what happens to the 48 million Americans whose jobs depend on the fragile financial plumbing when the credit finally contracts. Is this a repeat of 2008, or something much quieter but much harder to escape?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 15:08:45 -0000 full Patrick Boyle If you’re ready to level up your AI leadership skills, head to https://masterclass.yt.link/5o4X21q to get 15% off the Lead with AI Certificate from MasterClass and Microsoft.While the world is distracted by global conflict, a panic is building in the private credit market. In this video, we go inside the opaque world of Private Credit - examine the "Golden Age" of lending that is rapidly turning into a slow-motion crisis. From the "volatility laundering" tricks used by managers to hide billion-dollar losses to the "Exit Trap" currently catching retail investors in BDCs, we explore how the search for yield led Wall Street directly to your 401(k). We look at why insiders like Boaz Weinstein are calling this a scandal, and what happens to the 48 million Americans whose jobs depend on the fragile financial plumbing when the credit finally contracts. Is this a repeat of 2008, or something much quieter but much harder to escape?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices If you’re ready to level up your AI leadership skills, head to https://masterclass.yt.link/5o4X21q to get 15% off the Lead with AI Certificate from MasterClass and Microsoft.

While the world is distracted by global conflict, a panic is building in the private credit market. In this video, we go inside the opaque world of Private Credit - examine the "Golden Age" of lending that is rapidly turning into a slow-motion crisis. From the "volatility laundering" tricks used by managers to hide billion-dollar losses to the "Exit Trap" currently catching retail investors in BDCs, we explore how the search for yield led Wall Street directly to your 401(k). We look at why insiders like Boaz Weinstein are calling this a scandal, and what happens to the 48 million Americans whose jobs depend on the fragile financial plumbing when the credit finally contracts. Is this a repeat of 2008, or something much quieter but much harder to escape?

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2105 no Argentina's Memecoin Disaster Get 50% off your first order of CookUnity meals — go to https://cookunity.com/pboyle50 and use my code PBOYLE50 at checkout to try them out for yourself! Thanks to CookUnity for sponsoring this video!Argentina’s president Javier Milei has been rocked by a scandal over his promotion of a memecoin called $LIBRA which soared in value before collapsing last week, triggering lawsuits and calls for impeachment.Buyers of the cryptocurrency accused the coin’s creators of - what is known as a “rug pull” scheme, a type of crypto pump and dump scheme - where the promoters draw in buyers, only to stop trading and make off with the money raised from token sales.The same team who launched the Argentina linked meme token are also behind Donald Trump's wife's Melania Coin - which performed similarly.In today's video we discuss whether elected representatives should be involved in cryptocurrency investments.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/joinCoffeezilla Libra Interview: https://www.youtube.com/watch?v=EqizJTbxAEM&t=3261s Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 14:40:00 -0000 full Patrick Boyle Get 50% off your first order of CookUnity meals — go to https://cookunity.com/pboyle50 and use my code PBOYLE50 at checkout to try them out for yourself! Thanks to CookUnity for sponsoring this video!Argentina’s president Javier Milei has been rocked by a scandal over his promotion of a memecoin called $LIBRA which soared in value before collapsing last week, triggering lawsuits and calls for impeachment.Buyers of the cryptocurrency accused the coin’s creators of - what is known as a “rug pull” scheme, a type of crypto pump and dump scheme - where the promoters draw in buyers, only to stop trading and make off with the money raised from token sales.The same team who launched the Argentina linked meme token are also behind Donald Trump's wife's Melania Coin - which performed similarly.In today's video we discuss whether elected representatives should be involved in cryptocurrency investments.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/joinCoffeezilla Libra Interview: https://www.youtube.com/watch?v=EqizJTbxAEM&t=3261s Learn more about your ad choices. Visit megaphone.fm/adchoices Get 50% off your first order of CookUnity meals — go to https://cookunity.com/pboyle50 and use my code PBOYLE50 at checkout to try them out for yourself! Thanks to CookUnity for sponsoring this video!

Argentina’s president Javier Milei has been rocked by a scandal over his promotion of a memecoin called $LIBRA which soared in value before collapsing last week, triggering lawsuits and calls for impeachment.

Buyers of the cryptocurrency accused the coin’s creators of - what is known as a “rug pull” scheme, a type of crypto pump and dump scheme - where the promoters draw in buyers, only to stop trading and make off with the money raised from token sales.

The same team who launched the Argentina linked meme token are also behind Donald Trump's wife's Melania Coin - which performed similarly.

In today's video we discuss whether elected representatives should be involved in cryptocurrency investments.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Coffeezilla Libra Interview: https://www.youtube.com/watch?v=EqizJTbxAEM&t=3261s

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2340 no What is a Call Spread? Financial Options - Financial Derivatives What is an options call spread?These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is a Call Spread?What is a Bull Call Spread?A bull call spread is an options strategy used when a trader is betting that a stock will have a limited increase in its price. The spread involves buying call options at a specific strike price and expiration date and selling an equal number of calls at a higher strike price for the same expiration date. A bull call spread is a type of vertical spread. An option position in which a call is purchased while another call on the same security is sold short. The two calls have different strike prices, different expiration dates, or both. Also called option spread.What is a Bull Call Spread? Bull call spreads are an options strategy that involves purchasing call options at a specific strike price ,while also writing the same number of calls on the same asset and expiration date but at a higher strike price. A bull call spread is used when a moderate rise in the price of the underlying asset is expected.How does it work?Since a bull call spread involves writing call options that have a higher strike price than that of the long call options, the trade requires an initial cash outlay, as you spend money on options premium. The maximum profit in this strategy is the difference between the strike prices, less the net cost of options. The maximum loss is limited to the net premium paid for the options.A bull call spread's profit increases as the underlying security's price increases up to the strike price of the written call option. If the underlying stock price increases beyond the strike price of the written option, the profit on the trade does not increase. Conversely, if the price falls below the strike price of the bought call option, losses are limited to the cost of the buying options.Make sure you watch Patrick's other videos on options combinations. Tomorrow we will look at put spreads and the next day at Butterfly Spreads.If you are new to options watch the playlist "An Introduction to Options"Trading and Pricing Financial Derivatives Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 14:40:00 -0000 full Patrick Boyle What is an options call spread?These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is a Call Spread?What is a Bull Call Spread?A bull call spread is an options strategy used when a trader is betting that a stock will have a limited increase in its price. The spread involves buying call options at a specific strike price and expiration date and selling an equal number of calls at a higher strike price for the same expiration date. A bull call spread is a type of vertical spread. An option position in which a call is purchased while another call on the same security is sold short. The two calls have different strike prices, different expiration dates, or both. Also called option spread.What is a Bull Call Spread? Bull call spreads are an options strategy that involves purchasing call options at a specific strike price ,while also writing the same number of calls on the same asset and expiration date but at a higher strike price. A bull call spread is used when a moderate rise in the price of the underlying asset is expected.How does it work?Since a bull call spread involves writing call options that have a higher strike price than that of the long call options, the trade requires an initial cash outlay, as you spend money on options premium. The maximum profit in this strategy is the difference between the strike prices, less the net cost of options. The maximum loss is limited to the net premium paid for the options.A bull call spread's profit increases as the underlying security's price increases up to the strike price of the written call option. If the underlying stock price increases beyond the strike price of the written option, the profit on the trade does not increase. Conversely, if the price falls below the strike price of the bought call option, losses are limited to the cost of the buying options.Make sure you watch Patrick's other videos on options combinations. Tomorrow we will look at put spreads and the next day at Butterfly Spreads.If you are new to options watch the playlist "An Introduction to Options"Trading and Pricing Financial Derivatives Learn more about your ad choices. Visit megaphone.fm/adchoices What is an options call spread?

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

What is a Call Spread?

What is a Bull Call Spread?
A bull call spread is an options strategy used when a trader is betting that a stock will have a limited increase in its price. The spread involves buying call options at a specific strike price and expiration date and selling an equal number of calls at a higher strike price for the same expiration date. A bull call spread is a type of vertical spread.

An option position in which a call is purchased while another call on the same security is sold short. The two calls have different strike prices, different expiration dates, or both. Also called option spread.

What is a Bull Call Spread?
Bull call spreads are an options strategy that involves purchasing call options at a specific strike price ,while also writing the same number of calls on the same asset and expiration date but at a higher strike price. A bull call spread is used when a moderate rise in the price of the underlying asset is expected.

How does it work?
Since a bull call spread involves writing call options that have a higher strike price than that of the long call options, the trade requires an initial cash outlay, as you spend money on options premium. The maximum profit in this strategy is the difference between the strike prices, less the net cost of options. The maximum loss is limited to the net premium paid for the options.

A bull call spread's profit increases as the underlying security's price increases up to the strike price of the written call option. If the underlying stock price increases beyond the strike price of the written option, the profit on the trade does not increase. Conversely, if the price falls below the strike price of the bought call option, losses are limited to the cost of the buying options.

Make sure you watch Patrick's other videos on options combinations. Tomorrow we will look at put spreads and the next day at Butterfly Spreads.

If you are new to options watch the playlist "An Introduction to Options"

Trading and Pricing Financial Derivatives

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 607 no Negative Oil Prices - What is happening with the USO ETF? | How do ETF's work? Buy The Book Here: https://amzn.to/2J2kF3AVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePatreon Page: https://www.patreon.com/PatrickBoyleOnFinanceThe Untied States Oil Fund (USO) dropped 25% on Tuesday as managers made multiple changes to the fund’s structure in an effort to stave off additional losses.The fund, which trades under the ticker USO is popular with retail investors, seeks to track the price of the front month WTI oil futures price.The fund will now invest in multiple futures contract expirations, rather than focusing on the contract for the nearest month.In todays video I answer a lot of questions from yesterdays video explaining what it meant that the oil price was negative. You can watch that video here. https://youtu.be/dfqmjSOD7pQ I explain what an ETF is, how they work, and what might happen if the ETF becomes disconnected from its NAV. Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 14:11:15 -0000 full Patrick Boyle Buy The Book Here: https://amzn.to/2J2kF3AVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePatreon Page: https://www.patreon.com/PatrickBoyleOnFinanceThe Untied States Oil Fund (USO) dropped 25% on Tuesday as managers made multiple changes to the fund’s structure in an effort to stave off additional losses.The fund, which trades under the ticker USO is popular with retail investors, seeks to track the price of the front month WTI oil futures price.The fund will now invest in multiple futures contract expirations, rather than focusing on the contract for the nearest month.In todays video I answer a lot of questions from yesterdays video explaining what it meant that the oil price was negative. You can watch that video here. https://youtu.be/dfqmjSOD7pQ I explain what an ETF is, how they work, and what might happen if the ETF becomes disconnected from its NAV. Learn more about your ad choices. Visit megaphone.fm/adchoices Buy The Book Here: https://amzn.to/2J2kF3A
Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance

The Untied States Oil Fund (USO) dropped 25% on Tuesday as managers made multiple changes to the fund’s structure in an effort to stave off additional losses.
The fund, which trades under the ticker USO is popular with retail investors, seeks to track the price of the front month WTI oil futures price.
The fund will now invest in multiple futures contract expirations, rather than focusing on the contract for the nearest month.

In todays video I answer a lot of questions from yesterdays video explaining what it meant that the oil price was negative. You can watch that video here. https://youtu.be/dfqmjSOD7pQ


I explain what an ETF is, how they work, and what might happen if the ETF becomes disconnected from its NAV.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 1200 no We Need To Talk About Leopold Taking care of your health just got easier, thanks to my sponsor Zocdoc! Start here at: https://zocdoc.com/patrickboyleLast week, 24-year-old Leopold Aschenbrenner — former FTX staffer, ex-OpenAI researcher, and author of the viral 165-page essay "Situational Awareness" — managed to lose roughly two-thirds of his $45 billion hedge fund in a matter of weeks. The margin calls arrived during his wedding weekend.In this video I break down how a trader with no professional experience raised billions from Silicon Valley, why his AI "hedge" wasn't a hedge at all, and how leverage plus a concentrated bet on artificial intelligence stocks turned a great-looking expected return into a catastrophic outcome. Along the way we look at the cultural gap between Silicon Valley and Wall Street, why Ken Griffin's Citadel ended up buying the collapsing portfolio in an overnight fire sale, and the maths of volatility drag — the reason a high expected return can still drag an investor's typical outcome straight into the ground.It's a story about leverage, risk management, expected versus median returns, and what happens when you go "full Kelly." Featuring reporting from the Wall Street Journal, The New York Times, Bloomberg, and the Financial Times, plus Victor Haghani's lessons from The Missing Billionaires.Victor Haghani - The Missing Billionaires book: https://amzn.to/4fQUEEBElm Wealth Website: https://elmwealth.com/Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 14:11:15 -0000 full Patrick Boyle Taking care of your health just got easier, thanks to my sponsor Zocdoc! Start here at: https://zocdoc.com/patrickboyleLast week, 24-year-old Leopold Aschenbrenner — former FTX staffer, ex-OpenAI researcher, and author of the viral 165-page essay "Situational Awareness" — managed to lose roughly two-thirds of his $45 billion hedge fund in a matter of weeks. The margin calls arrived during his wedding weekend.In this video I break down how a trader with no professional experience raised billions from Silicon Valley, why his AI "hedge" wasn't a hedge at all, and how leverage plus a concentrated bet on artificial intelligence stocks turned a great-looking expected return into a catastrophic outcome. Along the way we look at the cultural gap between Silicon Valley and Wall Street, why Ken Griffin's Citadel ended up buying the collapsing portfolio in an overnight fire sale, and the maths of volatility drag — the reason a high expected return can still drag an investor's typical outcome straight into the ground.It's a story about leverage, risk management, expected versus median returns, and what happens when you go "full Kelly." Featuring reporting from the Wall Street Journal, The New York Times, Bloomberg, and the Financial Times, plus Victor Haghani's lessons from The Missing Billionaires.Victor Haghani - The Missing Billionaires book: https://amzn.to/4fQUEEBElm Wealth Website: https://elmwealth.com/Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Taking care of your health just got easier, thanks to my sponsor Zocdoc! Start here at: https://zocdoc.com/patrickboyle

Last week, 24-year-old Leopold Aschenbrenner — former FTX staffer, ex-OpenAI researcher, and author of the viral 165-page essay "Situational Awareness" — managed to lose roughly two-thirds of his $45 billion hedge fund in a matter of weeks. The margin calls arrived during his wedding weekend.

In this video I break down how a trader with no professional experience raised billions from Silicon Valley, why his AI "hedge" wasn't a hedge at all, and how leverage plus a concentrated bet on artificial intelligence stocks turned a great-looking expected return into a catastrophic outcome. Along the way we look at the cultural gap between Silicon Valley and Wall Street, why Ken Griffin's Citadel ended up buying the collapsing portfolio in an overnight fire sale, and the maths of volatility drag — the reason a high expected return can still drag an investor's typical outcome straight into the ground.

It's a story about leverage, risk management, expected versus median returns, and what happens when you go "full Kelly." Featuring reporting from the Wall Street Journal, The New York Times, Bloomberg, and the Financial Times, plus Victor Haghani's lessons from The Missing Billionaires.

Victor Haghani - The Missing Billionaires book: https://amzn.to/4fQUEEB
Elm Wealth Website: https://elmwealth.com/

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2982 no What are Real Options? - Real Options Valuation Method For Capital Budgeting Decisions Real options valuation, also often termed real options analysis, applies option valuation techniques to capital budgeting decisions. These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Patreon Page: https://www.patreon.com/PatrickBoyleOnFinanceFollow Patrick on twitter here: https://twitter.com/PatrickEBoyleA real option itself, is the right but not the obligation to undertake certain business initiatives, such as deferring, abandoning, expanding, staging, or contracting a capital investment project. For example, the opportunity to invest in the expansion of a firm's factory, or alternatively to sell the factory, is a real call or put option, respectively.Real options are generally distinguished from conventional financial options in that they are not typically traded as securities, and do not usually involve decisions on an underlying asset that is traded as a financial security. A further distinction is that option holders here, i.e. management, can directly influence the value of the option's underlying project; whereas this is not a consideration as regards the underlying security of a financial option. Moreover, management cannot measure uncertainty in terms of volatility, and must instead rely on their perceptions of uncertainty. Unlike financial options, management also have to create or discover real options, and such creation and discovery process comprises an entrepreneurial or business task. Real options are most valuable when uncertainty is high; management has significant flexibility to change the course of the project in a favorable direction and is willing to exercise the options.Real options analysis, as a discipline, extends from its application in corporate finance, to decision making under uncertainty in general, adapting the techniques developed for financial options to "real-life" decisions. For example, R&D managers can use Real Options Valuation to help them allocate their R&D budget among diverse projects; a non business example might be the decision to join the work force, or rather, to forgo several years of income to attend graduate school. It, thus, forces decision makers to be explicit about the assumptions underlying their projections, and for this reason ROV is increasingly employed as a tool in business strategy formulation. This extension of real options to real-world projects often requires customized decision support systems, because otherwise the complex compound real options will become too intractable to handle. Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 13:42:30 -0000 full Patrick Boyle Real options valuation, also often termed real options analysis, applies option valuation techniques to capital budgeting decisions. These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Patreon Page: https://www.patreon.com/PatrickBoyleOnFinanceFollow Patrick on twitter here: https://twitter.com/PatrickEBoyleA real option itself, is the right but not the obligation to undertake certain business initiatives, such as deferring, abandoning, expanding, staging, or contracting a capital investment project. For example, the opportunity to invest in the expansion of a firm's factory, or alternatively to sell the factory, is a real call or put option, respectively.Real options are generally distinguished from conventional financial options in that they are not typically traded as securities, and do not usually involve decisions on an underlying asset that is traded as a financial security. A further distinction is that option holders here, i.e. management, can directly influence the value of the option's underlying project; whereas this is not a consideration as regards the underlying security of a financial option. Moreover, management cannot measure uncertainty in terms of volatility, and must instead rely on their perceptions of uncertainty. Unlike financial options, management also have to create or discover real options, and such creation and discovery process comprises an entrepreneurial or business task. Real options are most valuable when uncertainty is high; management has significant flexibility to change the course of the project in a favorable direction and is willing to exercise the options.Real options analysis, as a discipline, extends from its application in corporate finance, to decision making under uncertainty in general, adapting the techniques developed for financial options to "real-life" decisions. For example, R&D managers can use Real Options Valuation to help them allocate their R&D budget among diverse projects; a non business example might be the decision to join the work force, or rather, to forgo several years of income to attend graduate school. It, thus, forces decision makers to be explicit about the assumptions underlying their projections, and for this reason ROV is increasingly employed as a tool in business strategy formulation. This extension of real options to real-world projects often requires customized decision support systems, because otherwise the complex compound real options will become too intractable to handle. Learn more about your ad choices. Visit megaphone.fm/adchoices Real options valuation, also often termed real options analysis, applies option valuation techniques to capital budgeting decisions.

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

A real option itself, is the right but not the obligation to undertake certain business initiatives, such as deferring, abandoning, expanding, staging, or contracting a capital investment project. For example, the opportunity to invest in the expansion of a firm's factory, or alternatively to sell the factory, is a real call or put option, respectively.

Real options are generally distinguished from conventional financial options in that they are not typically traded as securities, and do not usually involve decisions on an underlying asset that is traded as a financial security. A further distinction is that option holders here, i.e. management, can directly influence the value of the option's underlying project; whereas this is not a consideration as regards the underlying security of a financial option. Moreover, management cannot measure uncertainty in terms of volatility, and must instead rely on their perceptions of uncertainty. Unlike financial options, management also have to create or discover real options, and such creation and discovery process comprises an entrepreneurial or business task. Real options are most valuable when uncertainty is high; management has significant flexibility to change the course of the project in a favorable direction and is willing to exercise the options.

Real options analysis, as a discipline, extends from its application in corporate finance, to decision making under uncertainty in general, adapting the techniques developed for financial options to "real-life" decisions. For example, R&D managers can use Real Options Valuation to help them allocate their R&D budget among diverse projects; a non business example might be the decision to join the work force, or rather, to forgo several years of income to attend graduate school. It, thus, forces decision makers to be explicit about the assumptions underlying their projections, and for this reason ROV is increasingly employed as a tool in business strategy formulation. This extension of real options to real-world projects often requires customized decision support systems, because otherwise the complex compound real options will become too intractable to handle.

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]]> 1433 no How Jane Street Made $4.3 Billion in India—Then Got Banned! ⭐️ Unlimited phone plan for $25/mo → https://bit.ly/TelloxPatrickBoyleJane Street, a prominent quantitative trading firm, has been at the center of controversy in India regarding its options trading activities. The Securities and Exchange Board of India (SEBI), have accused Jane Street of market manipulation and temporarily banned the firm from accessing the Indian securities market and are seeking to recover substantial profits, allegedly earned through these activities. The Indian regulators actions against Jane Street have sparked debate within the financial industry about the nature of sophisticated trading strategies and the potential for market manipulation.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 13:42:30 -0000 full Patrick Boyle ⭐️ Unlimited phone plan for $25/mo → https://bit.ly/TelloxPatrickBoyleJane Street, a prominent quantitative trading firm, has been at the center of controversy in India regarding its options trading activities. The Securities and Exchange Board of India (SEBI), have accused Jane Street of market manipulation and temporarily banned the firm from accessing the Indian securities market and are seeking to recover substantial profits, allegedly earned through these activities. The Indian regulators actions against Jane Street have sparked debate within the financial industry about the nature of sophisticated trading strategies and the potential for market manipulation.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices ⭐️ Unlimited phone plan for $25/mo → https://bit.ly/TelloxPatrickBoyle

Jane Street, a prominent quantitative trading firm, has been at the center of controversy in India regarding its options trading activities. The Securities and Exchange Board of India (SEBI), have accused Jane Street of market manipulation and temporarily banned the firm from accessing the Indian securities market and are seeking to recover substantial profits, allegedly earned through these activities.

The Indian regulators actions against Jane Street have sparked debate within the financial industry about the nature of sophisticated trading strategies and the potential for market manipulation.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
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]]> 1974 no Factors That Impact Option Prices Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 13:13:45 -0000 full Patrick Boyle Learn more about your ad choices. Visit megaphone.fm/adchoices

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]]> 697 no Is the EV Revolution Dead? To try everything Brilliant has to offer for free for a full 30 days, visit https://brilliant.org/patrick/ You’ll also get 20% off an annual premium subscription.Automakers are hedging their bets on electric vehicles and stepping up their investment in hybrid cars as consumers’ growing disinterest in fully electric vehicles has forced the industry to shift gear.A combination of high EV depreciation and concern over inadequate charging infrastructure has chilled buyers’ enthusiasm for fully electric cars, prompting a rebound in sales of hybrid vehicles that many automakers had ignored.Volvo scrapped its target of going all electric by 2030 last week, saying it now expected to still be offering some hybrid models in its lineup at that time.@EdBolian Audi e-tron video https://www.youtube.com/watch?v=sU8HBNM6LTo&t=33s@carwow EV Depreciation video https://www.youtube.com/watch?v=eGS34ENu4S4Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 13:13:45 -0000 full Patrick Boyle To try everything Brilliant has to offer for free for a full 30 days, visit https://brilliant.org/patrick/ You’ll also get 20% off an annual premium subscription.Automakers are hedging their bets on electric vehicles and stepping up their investment in hybrid cars as consumers’ growing disinterest in fully electric vehicles has forced the industry to shift gear.A combination of high EV depreciation and concern over inadequate charging infrastructure has chilled buyers’ enthusiasm for fully electric cars, prompting a rebound in sales of hybrid vehicles that many automakers had ignored.Volvo scrapped its target of going all electric by 2030 last week, saying it now expected to still be offering some hybrid models in its lineup at that time.@EdBolian Audi e-tron video https://www.youtube.com/watch?v=sU8HBNM6LTo&t=33s@carwow EV Depreciation video https://www.youtube.com/watch?v=eGS34ENu4S4Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices To try everything Brilliant has to offer for free for a full 30 days, visit https://brilliant.org/patrick/ You’ll also get 20% off an annual premium subscription.

Automakers are hedging their bets on electric vehicles and stepping up their investment in hybrid cars as consumers’ growing disinterest in fully electric vehicles has forced the industry to shift gear.

A combination of high EV depreciation and concern over inadequate charging infrastructure has chilled buyers’ enthusiasm for fully electric cars, prompting a rebound in sales of hybrid vehicles that many automakers had ignored.

Volvo scrapped its target of going all electric by 2030 last week, saying it now expected to still be offering some hybrid models in its lineup at that time.

@EdBolian Audi e-tron video https://www.youtube.com/watch?v=sU8HBNM6LTo&t=33s
@carwow EV Depreciation video https://www.youtube.com/watch?v=eGS34ENu4S4

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
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]]> 2011 no New Meme Stocks Just Dropped! 👉 To learn for free on Brilliant, go to https://brilliant.org/patrick/. Brilliant’s also given our viewers 20% off an annual Premium subscription, which gives you unlimited daily access to everything on Brilliant.This summer, a bizarre new trend hit Wall Street: Chinese meme stocks. Promoted in WhatsApp groups, Reddit threads, and even under fake YouTube comments, these obscure Chinese companies soared — and then collapsed — wiping out billions in investor savings. In this video, we explore how Regencell Biosciences briefly reached a $38 billion valuation selling what looks suspiciously like curry ingredients as medicine, we try to understand why the FBI is calling it “ramp and dump” fraud, and how scammers are impersonating brokers, analysts, and even YouTubers to lure in victims.We’ll compare these knockoff meme stocks to America’s domestically produced meme stock madness — GameStop, AMC, and the DORK stocks — and ask: is this just low-quality IP theft, or a new frontier in financial absurdity?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 12:45:00 -0000 full Patrick Boyle 👉 To learn for free on Brilliant, go to https://brilliant.org/patrick/. Brilliant’s also given our viewers 20% off an annual Premium subscription, which gives you unlimited daily access to everything on Brilliant.This summer, a bizarre new trend hit Wall Street: Chinese meme stocks. Promoted in WhatsApp groups, Reddit threads, and even under fake YouTube comments, these obscure Chinese companies soared — and then collapsed — wiping out billions in investor savings. In this video, we explore how Regencell Biosciences briefly reached a $38 billion valuation selling what looks suspiciously like curry ingredients as medicine, we try to understand why the FBI is calling it “ramp and dump” fraud, and how scammers are impersonating brokers, analysts, and even YouTubers to lure in victims.We’ll compare these knockoff meme stocks to America’s domestically produced meme stock madness — GameStop, AMC, and the DORK stocks — and ask: is this just low-quality IP theft, or a new frontier in financial absurdity?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices 👉 To learn for free on Brilliant, go to https://brilliant.org/patrick/. Brilliant’s also given our viewers 20% off an annual Premium subscription, which gives you unlimited daily access to everything on Brilliant.

This summer, a bizarre new trend hit Wall Street: Chinese meme stocks. Promoted in WhatsApp groups, Reddit threads, and even under fake YouTube comments, these obscure Chinese companies soared — and then collapsed — wiping out billions in investor savings. In this video, we explore how Regencell Biosciences briefly reached a $38 billion valuation selling what looks suspiciously like curry ingredients as medicine, we try to understand why the FBI is calling it “ramp and dump” fraud, and how scammers are impersonating brokers, analysts, and even YouTubers to lure in victims.

We’ll compare these knockoff meme stocks to America’s domestically produced meme stock madness — GameStop, AMC, and the DORK stocks — and ask: is this just low-quality IP theft, or a new frontier in financial absurdity?

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

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]]> 1633 no Scott Bessent Is at War With Prices — and Prices Are Winning! Go to http://ground.news/pb for a better way to stay informed. Subscribe for 40% off unlimited access to worldwide coverage through my link. Treasury Secretary Scott Bessent is trying to force down US Treasury yields with surprise bond buybacks — and it isn't working. In this video we break down Bessent's activist debt management strategy, why doubling the Treasury's long-dated buybacks is a bet on falling interest rates funded by short-term bills, and why his old boss Stanley Druckenmiller publicly tore the plan apart in a Wall Street Journal op-ed ("Let the Bond Market Speak"). We look at the collision with new Federal Reserve Chair Kevin Warsh after Jackson Hole, the 50% tariffs on Canada and the Mark Carney feud, "Operation Economic Outcast" and the secondary-sanctions problem with China and Iranian oil, the GENIUS Act and crypto's role in sanctions evasion, and Stephen Miran's case for the defense. The through-line: you can't trade around arithmetic. When a government goes to war with market prices, the bond market has an infinite balance sheet — and prices tend to win.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 12:45:00 -0000 full Patrick Boyle Go to http://ground.news/pb for a better way to stay informed. Subscribe for 40% off unlimited access to worldwide coverage through my link. Treasury Secretary Scott Bessent is trying to force down US Treasury yields with surprise bond buybacks — and it isn't working. In this video we break down Bessent's activist debt management strategy, why doubling the Treasury's long-dated buybacks is a bet on falling interest rates funded by short-term bills, and why his old boss Stanley Druckenmiller publicly tore the plan apart in a Wall Street Journal op-ed ("Let the Bond Market Speak"). We look at the collision with new Federal Reserve Chair Kevin Warsh after Jackson Hole, the 50% tariffs on Canada and the Mark Carney feud, "Operation Economic Outcast" and the secondary-sanctions problem with China and Iranian oil, the GENIUS Act and crypto's role in sanctions evasion, and Stephen Miran's case for the defense. The through-line: you can't trade around arithmetic. When a government goes to war with market prices, the bond market has an infinite balance sheet — and prices tend to win.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Go to http://ground.news/pb for a better way to stay informed. Subscribe for 40% off unlimited access to worldwide coverage through my link.

Treasury Secretary Scott Bessent is trying to force down US Treasury yields with surprise bond buybacks — and it isn't working. In this video we break down Bessent's activist debt management strategy, why doubling the Treasury's long-dated buybacks is a bet on falling interest rates funded by short-term bills, and why his old boss Stanley Druckenmiller publicly tore the plan apart in a Wall Street Journal op-ed ("Let the Bond Market Speak"). We look at the collision with new Federal Reserve Chair Kevin Warsh after Jackson Hole, the 50% tariffs on Canada and the Mark Carney feud, "Operation Economic Outcast" and the secondary-sanctions problem with China and Iranian oil, the GENIUS Act and crypto's role in sanctions evasion, and Stephen Miran's case for the defense. The through-line: you can't trade around arithmetic. When a government goes to war with market prices, the bond market has an infinite balance sheet — and prices tend to win.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
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]]> 3270 no World's Worst Regulations! To try everything Brilliant has to offer for free for a full 30 days, visit https://brilliant.org/patrick/. You’ll also get 20% off an annual premium subscription.There is a long history of regulation and deregulation where big scandals provide the catalyst for new rules, and then the realization that the rules are possibly excessive has caused them to be rolled back.In finance the 1933 Glass-Steagall provisions came in the wake of the 1929 Crash. The 2002 Sarbanes-Oxley Act was a reaction to the Enron and WorldCom scandals. Dodd-Frank was enacted in 2010 after the 2008 financial crisis.Good regulation can bring all sorts of benefits, but excessive regulation, does little to serve the public interest, and creates financial costs and frustration for businesses and the public. Elon Musk has vowed to dismantle thousands of federal regulations as the co-head of the Department of Government Efficiency, or DOGE, saying the nation’s financial security depends on it. Is he right, and if so, what rules need to go first?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveAdditional Reading:https://regulatorystudies.columbian.gwu.edu/brief-history-regulation-and-deregulationAn Evaluation of Consumer Protection Legislation: The 1962 Drug Amendments | Journal of Political Economy: Vol 81, No 5https://www.cato.org/publications/policy-analysis/jones-act-burden-america-can-no-longer-bear#conclusions https://www.cato.org/policy-analysis/rust-buckets-how-jones-act-undermines-us-shipbuilding-national-securityhttps://worksinprogress.co/issue/how-madrid-built-its-metro-cheaply/Milton Friedman Video: https://www.youtube.com/watch?v=dZL25NSLhEAA history of regulation and deregulation: https://regulatorystudies.columbian.gwu.edu/brief-history-regulation-and-deregulationWeird Laws Around the World: https://www.farandwide.com/s/weird-laws-world-4961c1ede8d749bfJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 12:16:15 -0000 full Patrick Boyle To try everything Brilliant has to offer for free for a full 30 days, visit https://brilliant.org/patrick/. You’ll also get 20% off an annual premium subscription.There is a long history of regulation and deregulation where big scandals provide the catalyst for new rules, and then the realization that the rules are possibly excessive has caused them to be rolled back.In finance the 1933 Glass-Steagall provisions came in the wake of the 1929 Crash. The 2002 Sarbanes-Oxley Act was a reaction to the Enron and WorldCom scandals. Dodd-Frank was enacted in 2010 after the 2008 financial crisis.Good regulation can bring all sorts of benefits, but excessive regulation, does little to serve the public interest, and creates financial costs and frustration for businesses and the public. Elon Musk has vowed to dismantle thousands of federal regulations as the co-head of the Department of Government Efficiency, or DOGE, saying the nation’s financial security depends on it. Is he right, and if so, what rules need to go first?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveAdditional Reading:https://regulatorystudies.columbian.gwu.edu/brief-history-regulation-and-deregulationAn Evaluation of Consumer Protection Legislation: The 1962 Drug Amendments | Journal of Political Economy: Vol 81, No 5https://www.cato.org/publications/policy-analysis/jones-act-burden-america-can-no-longer-bear#conclusions https://www.cato.org/policy-analysis/rust-buckets-how-jones-act-undermines-us-shipbuilding-national-securityhttps://worksinprogress.co/issue/how-madrid-built-its-metro-cheaply/Milton Friedman Video: https://www.youtube.com/watch?v=dZL25NSLhEAA history of regulation and deregulation: https://regulatorystudies.columbian.gwu.edu/brief-history-regulation-and-deregulationWeird Laws Around the World: https://www.farandwide.com/s/weird-laws-world-4961c1ede8d749bfJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices To try everything Brilliant has to offer for free for a full 30 days, visit https://brilliant.org/patrick/. You’ll also get 20% off an annual premium subscription.

There is a long history of regulation and deregulation where big scandals provide the catalyst for new rules, and then the realization that the rules are possibly excessive has caused them to be rolled back.

In finance the 1933 Glass-Steagall provisions came in the wake of the 1929 Crash. The 2002 Sarbanes-Oxley Act was a reaction to the Enron and WorldCom scandals. Dodd-Frank was enacted in 2010 after the 2008 financial crisis.

Good regulation can bring all sorts of benefits, but excessive regulation, does little to serve the public interest, and creates financial costs and frustration for businesses and the public.

Elon Musk has vowed to dismantle thousands of federal regulations as the co-head of the Department of Government Efficiency, or DOGE, saying the nation’s financial security depends on it. Is he right, and if so, what rules need to go first?

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Additional Reading:
https://regulatorystudies.columbian.gwu.edu/brief-history-regulation-and-deregulation
An Evaluation of Consumer Protection Legislation: The 1962 Drug Amendments | Journal of Political Economy: Vol 81, No 5
https://www.cato.org/publications/policy-analysis/jones-act-burden-america-can-no-longer-bear#conclusions https://www.cato.org/policy-analysis/rust-buckets-how-jones-act-undermines-us-shipbuilding-national-security
https://worksinprogress.co/issue/how-madrid-built-its-metro-cheaply/
Milton Friedman Video: https://www.youtube.com/watch?v=dZL25NSLhEA
A history of regulation and deregulation: https://regulatorystudies.columbian.gwu.edu/brief-history-regulation-and-deregulation
Weird Laws Around the World: https://www.farandwide.com/s/weird-laws-world-4961c1ede8d749bf


Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2122 no Panic In the Car Market - Americans Rush to Beat Tariffs! Go to https://ground.news/pb to get up to 40% off unlimited access to stay fully informed. Subscribe through my link this month for 40% off unlimited access.Americans have ben rushing to change their cars as President Trump’s 25% tariffs on imported cars and car parts remain in effect despite the deferral of other country-based taxes that were announced last week. Analysts are predicting a drop in vehicle sales, higher new and used car prices, and increased industry costs of more than $100 billion dollars. How will you be affected by Trump's new car tariffs?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 12:16:15 -0000 full Patrick Boyle Go to https://ground.news/pb to get up to 40% off unlimited access to stay fully informed. Subscribe through my link this month for 40% off unlimited access.Americans have ben rushing to change their cars as President Trump’s 25% tariffs on imported cars and car parts remain in effect despite the deferral of other country-based taxes that were announced last week. Analysts are predicting a drop in vehicle sales, higher new and used car prices, and increased industry costs of more than $100 billion dollars. How will you be affected by Trump's new car tariffs?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Go to https://ground.news/pb to get up to 40% off unlimited access to stay fully informed. Subscribe through my link this month for 40% off unlimited access.

Americans have ben rushing to change their cars as President Trump’s 25% tariffs on imported cars and car parts remain in effect despite the deferral of other country-based taxes that were announced last week.

Analysts are predicting a drop in vehicle sales, higher new and used car prices, and increased industry costs of more than $100 billion dollars. How will you be affected by Trump's new car tariffs?

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2073 no How do you risk manage portfolios that contain financial derivatives? These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleDerivatives are specific types of instruments that derive their value over time from the performance of an underlying asset: eg equities, bonds, commodities. A derivative is traded between two parties – who are referred to as the counterparties. These counterparties are subject to a pre-agreed set of terms and conditions that determine their rights and obligations. The most common types of derivatives are options, futures, forwards, swaps and swaptions. I have created videos already explaining all of these financial products.Market risk refers to the sensitivity of an asset or portfolio to overall market price movements such as interest rates, inflation, equities, currency and property. In addition to market risk, derivatives carry counterparty credit risk. Counterparty risk arises when one of the parties defaults, resulting in a replacement risk for the non-defaulting party. As the use of derivatives has grown, systems and methodologies to monitor and mitigate counterparty risk have become more sophisticated. Regulators have also been enhancing the accounting standards (eg IFRS 13) and capital frameworks to capture counterparty risk.Whilst VaR remains an important metric for measuring market risk exposure, there are limitations with this measure. Regulators are increasingly recommending a broader range of risk metrics to evaluate risk exposure. Ultimately, each investor needs to adopt the best combination of risk metrics for their unique asset/liability, funding and risk profile. Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 11:47:30 -0000 full Patrick Boyle These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleDerivatives are specific types of instruments that derive their value over time from the performance of an underlying asset: eg equities, bonds, commodities. A derivative is traded between two parties – who are referred to as the counterparties. These counterparties are subject to a pre-agreed set of terms and conditions that determine their rights and obligations. The most common types of derivatives are options, futures, forwards, swaps and swaptions. I have created videos already explaining all of these financial products.Market risk refers to the sensitivity of an asset or portfolio to overall market price movements such as interest rates, inflation, equities, currency and property. In addition to market risk, derivatives carry counterparty credit risk. Counterparty risk arises when one of the parties defaults, resulting in a replacement risk for the non-defaulting party. As the use of derivatives has grown, systems and methodologies to monitor and mitigate counterparty risk have become more sophisticated. Regulators have also been enhancing the accounting standards (eg IFRS 13) and capital frameworks to capture counterparty risk.Whilst VaR remains an important metric for measuring market risk exposure, there are limitations with this measure. Regulators are increasingly recommending a broader range of risk metrics to evaluate risk exposure. Ultimately, each investor needs to adopt the best combination of risk metrics for their unique asset/liability, funding and risk profile. Learn more about your ad choices. Visit megaphone.fm/adchoices These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

Derivatives are specific types of instruments that derive their value over time from the performance of an underlying asset: eg equities, bonds, commodities.
A derivative is traded between two parties – who are referred to as the counterparties. These counterparties are subject to a pre-agreed set of terms and conditions that determine their rights and obligations.

The most common types of derivatives are options, futures, forwards, swaps and swaptions. I have created videos already explaining all of these financial products.

Market risk refers to the sensitivity of an asset or portfolio to overall market price movements such as interest rates, inflation, equities, currency and property.

In addition to market risk, derivatives carry counterparty credit risk. Counterparty risk arises when one of the parties defaults, resulting in a replacement risk for the non-defaulting party. As the use of derivatives has grown, systems and methodologies to monitor and mitigate counterparty risk have become more sophisticated. Regulators have also been enhancing the accounting standards (eg IFRS 13) and capital frameworks to capture counterparty risk.

Whilst VaR remains an important metric for measuring market risk exposure, there are limitations with this measure. Regulators are increasingly recommending a broader range of risk metrics to evaluate risk exposure. Ultimately, each investor needs to adopt the best combination of risk metrics for their unique asset/liability, funding and risk profile.

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]]> 843 no Pricing Options using Black Scholes Merton These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleThe Black–Scholes or Black–Scholes–Merton model is a mathematical model for the dynamics of a financial market containing derivative investment instruments. From the partial differential equation in the model, known as the Black–Scholes equation, one can deduce the Black–Scholes formula, which gives a theoretical estimate of the price of European-style options and shows that the option has a unique price regardless of the risk of the security and its expected return. The formula led to a boom in options trading and is widely used, although often with adjustments and corrections, by options market participants.Based on works previously developed by academics and practitioners, such as Louis Bachelier and Ed Thorp among others, Fischer Black and Myron Scholes demonstrated in the late 1960s that a dynamic revision of a portfolio removes the expected return of the security, thus inventing the risk neutral argument. After three years of efforts, the formula was published in 1973 in an article entitled "The Pricing of Options and Corporate Liabilities", in the Journal of Political Economy. Robert C. Merton was the first to publish a paper expanding the mathematical understanding of the options pricing model, and coined the term "Black–Scholes options pricing model". Merton and Scholes received the 1997 Nobel Memorial Prize in Economic Sciences for their work, the committee citing their discovery of the risk neutral dynamic revision as a breakthrough that separates the option from the risk of the underlying security. Although ineligible for the prize because of his death in 1995, Black was mentioned as a contributor by the Swedish Academy.The key idea behind the model is to hedge the option by buying and selling the underlying asset in in line with its delta and, as a consequence, to eliminate risk. This type of hedging is called "dynamic delta hedging" and is the basis of more complicated hedging strategies such as those engaged in by investment banks and hedge funds. The model's assumptions have been relaxed and generalized in many directions, leading to a plethora of models that are currently used in derivative pricing and risk management. It is the insights of the model, as exemplified in the Black–Scholes formula, that are frequently used by market participants, as distinguished from the actual prices. These insights include no-arbitrage bounds and risk-neutral pricing. Further, the Black–Scholes equation, a partial differential equation that governs the price of the option, enables pricing using numerical methods when an explicit formula is not possible. The Black–Scholes formula has only one parameter that cannot be directly observed in the market: the average future volatility of the underlying asset, but this can be backed out from the price of other options. In this video we learn about the model, the assumptions required for the model and about what goes in to it.We also learn about Implied volatility and the VIX Index. The VIX Index is a calculation designed to produce a measure of constant, 30-day expected volatility of the U.S. stock market, derived from real-time, mid-quote prices of S&P 500® Index (SPXSM) call and put options. On a global basis, it is one of the most recognized measures of volatility -- widely reported by financial media and closely followed by a variety of market participants as a daily market indicator.pricing options using black scholes mertonSubscribe so that you can see future videos on this topic, Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 11:47:30 -0000 full Patrick Boyle These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleThe Black–Scholes or Black–Scholes–Merton model is a mathematical model for the dynamics of a financial market containing derivative investment instruments. From the partial differential equation in the model, known as the Black–Scholes equation, one can deduce the Black–Scholes formula, which gives a theoretical estimate of the price of European-style options and shows that the option has a unique price regardless of the risk of the security and its expected return. The formula led to a boom in options trading and is widely used, although often with adjustments and corrections, by options market participants.Based on works previously developed by academics and practitioners, such as Louis Bachelier and Ed Thorp among others, Fischer Black and Myron Scholes demonstrated in the late 1960s that a dynamic revision of a portfolio removes the expected return of the security, thus inventing the risk neutral argument. After three years of efforts, the formula was published in 1973 in an article entitled "The Pricing of Options and Corporate Liabilities", in the Journal of Political Economy. Robert C. Merton was the first to publish a paper expanding the mathematical understanding of the options pricing model, and coined the term "Black–Scholes options pricing model". Merton and Scholes received the 1997 Nobel Memorial Prize in Economic Sciences for their work, the committee citing their discovery of the risk neutral dynamic revision as a breakthrough that separates the option from the risk of the underlying security. Although ineligible for the prize because of his death in 1995, Black was mentioned as a contributor by the Swedish Academy.The key idea behind the model is to hedge the option by buying and selling the underlying asset in in line with its delta and, as a consequence, to eliminate risk. This type of hedging is called "dynamic delta hedging" and is the basis of more complicated hedging strategies such as those engaged in by investment banks and hedge funds. The model's assumptions have been relaxed and generalized in many directions, leading to a plethora of models that are currently used in derivative pricing and risk management. It is the insights of the model, as exemplified in the Black–Scholes formula, that are frequently used by market participants, as distinguished from the actual prices. These insights include no-arbitrage bounds and risk-neutral pricing. Further, the Black–Scholes equation, a partial differential equation that governs the price of the option, enables pricing using numerical methods when an explicit formula is not possible. The Black–Scholes formula has only one parameter that cannot be directly observed in the market: the average future volatility of the underlying asset, but this can be backed out from the price of other options. In this video we learn about the model, the assumptions required for the model and about what goes in to it.We also learn about Implied volatility and the VIX Index. The VIX Index is a calculation designed to produce a measure of constant, 30-day expected volatility of the U.S. stock market, derived from real-time, mid-quote prices of S&P 500® Index (SPXSM) call and put options. On a global basis, it is one of the most recognized measures of volatility -- widely reported by financial media and closely followed by a variety of market participants as a daily market indicator.pricing options using black scholes mertonSubscribe so that you can see future videos on this topic, Learn more about your ad choices. Visit megaphone.fm/adchoices These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

The Black–Scholes or Black–Scholes–Merton model is a mathematical model for the dynamics of a financial market containing derivative investment instruments. From the partial differential equation in the model, known as the Black–Scholes equation, one can deduce the Black–Scholes formula, which gives a theoretical estimate of the price of European-style options and shows that the option has a unique price regardless of the risk of the security and its expected return. The formula led to a boom in options trading and is widely used, although often with adjustments and corrections, by options market participants.

Based on works previously developed by academics and practitioners, such as Louis Bachelier and Ed Thorp among others, Fischer Black and Myron Scholes demonstrated in the late 1960s that a dynamic revision of a portfolio removes the expected return of the security, thus inventing the risk neutral argument. After three years of efforts, the formula was published in 1973 in an article entitled "The Pricing of Options and Corporate Liabilities", in the Journal of Political Economy. Robert C. Merton was the first to publish a paper expanding the mathematical understanding of the options pricing model, and coined the term "Black–Scholes options pricing model". Merton and Scholes received the 1997 Nobel Memorial Prize in Economic Sciences for their work, the committee citing their discovery of the risk neutral dynamic revision as a breakthrough that separates the option from the risk of the underlying security. Although ineligible for the prize because of his death in 1995, Black was mentioned as a contributor by the Swedish Academy.

The key idea behind the model is to hedge the option by buying and selling the underlying asset in in line with its delta and, as a consequence, to eliminate risk. This type of hedging is called "dynamic delta hedging" and is the basis of more complicated hedging strategies such as those engaged in by investment banks and hedge funds.

The model's assumptions have been relaxed and generalized in many directions, leading to a plethora of models that are currently used in derivative pricing and risk management. It is the insights of the model, as exemplified in the Black–Scholes formula, that are frequently used by market participants, as distinguished from the actual prices. These insights include no-arbitrage bounds and risk-neutral pricing. Further, the Black–Scholes equation, a partial differential equation that governs the price of the option, enables pricing using numerical methods when an explicit formula is not possible.

The Black–Scholes formula has only one parameter that cannot be directly observed in the market: the average future volatility of the underlying asset, but this can be backed out from the price of other options.

In this video we learn about the model, the assumptions required for the model and about what goes in to it.

We also learn about Implied volatility and the VIX Index. The VIX Index is a calculation designed to produce a measure of constant, 30-day expected volatility of the U.S. stock market, derived from real-time, mid-quote prices of S&P 500® Index (SPXSM) call and put options. On a global basis, it is one of the most recognized measures of volatility -- widely reported by financial media and closely followed by a variety of market participants as a daily market indicator.

pricing options using black scholes merton

Subscribe so that you can see future videos on this topic,

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 1693 no Swaps and The Law of Comparative Advantage - How to do the comparative advantage swap calculation. In todays video we learn about how Swap participants benefit from the law of comparative advantage.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleSwaps and Comparative AdvantageIn economics, the law of absolute advantage stated that countries should specialize in what they are best or most efficient at producing, and then exchange these goods with other countries, making both countries better off.David Ricardo’s vital contribution to economic thought was the law of comparative advantage, an economic theory stating that even if one country is more efficient in the production of all goods (absolute advantage in all goods) than the other, both countries will still gain by trading with each other, as long as they have different relative efficiencies. This law helps explain why countries engage in international trade even when one country’s workers are more efficient at producing every single good than workers in other countries.It is easy to understand how if one company is able to get a better deal in fixed-rate borrowing, but prefers to borrow at a floating rate, while another company is in the equal and opposite situation, it might make sense for these two companies to enter into a swap. In the situation where one firm has better access to the capital markets than all others, it might still make sense for them to enter the swaps market.#comparative advantage swaps calculation Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 11:18:45 -0000 full Patrick Boyle In todays video we learn about how Swap participants benefit from the law of comparative advantage.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleSwaps and Comparative AdvantageIn economics, the law of absolute advantage stated that countries should specialize in what they are best or most efficient at producing, and then exchange these goods with other countries, making both countries better off.David Ricardo’s vital contribution to economic thought was the law of comparative advantage, an economic theory stating that even if one country is more efficient in the production of all goods (absolute advantage in all goods) than the other, both countries will still gain by trading with each other, as long as they have different relative efficiencies. This law helps explain why countries engage in international trade even when one country’s workers are more efficient at producing every single good than workers in other countries.It is easy to understand how if one company is able to get a better deal in fixed-rate borrowing, but prefers to borrow at a floating rate, while another company is in the equal and opposite situation, it might make sense for these two companies to enter into a swap. In the situation where one firm has better access to the capital markets than all others, it might still make sense for them to enter the swaps market.#comparative advantage swaps calculation Learn more about your ad choices. Visit megaphone.fm/adchoices In todays video we learn about how Swap participants benefit from the law of comparative advantage.

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

Swaps and Comparative Advantage

In economics, the law of absolute advantage stated that countries should specialize in what they are best or most efficient at producing, and then exchange these goods with other countries, making both countries better off.

David Ricardo’s vital contribution to economic thought was the law of comparative advantage, an economic theory stating that even if one country is more efficient in the production of all goods (absolute advantage in all goods) than the other, both countries will still gain by trading with each other, as long as they have different relative efficiencies. This law helps explain why countries engage in international trade even when one country’s workers are more efficient at producing every single good than workers in other countries.

It is easy to understand how if one company is able to get a better deal in fixed-rate borrowing, but prefers to borrow at a floating rate, while another company is in the equal and opposite situation, it might make sense for these two companies to enter into a swap. In the situation where one firm has better access to the capital markets than all others, it might still make sense for them to enter the swaps market.

#comparative advantage swaps calculation

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 1276 no The Infinite Money Glitch is Broken! Get an exclusive 15% discount on Saily data plans! Use code BOYLE at checkout. Download Saily app or go to https://saily.com/boyleFor years, firms like MicroStrategy turned buying Bitcoin into a corporate cheat code—raising billions, pumping token prices, and fueling meme-driven hype. But the magic loop has snapped. In this video, we break down why the “infinite money glitch” stopped working, how leveraged ETFs magnified losses, and why even Michael Saylor is now hoarding dollars. From gamma trades to meme economics, this is the story of how hype capitalism hit a wall.Zeke Faux on @GoodWorkMB : https://www.youtube.com/watch?v=exoNex2Yn5wPatrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 11:18:45 -0000 full Patrick Boyle Get an exclusive 15% discount on Saily data plans! Use code BOYLE at checkout. Download Saily app or go to https://saily.com/boyleFor years, firms like MicroStrategy turned buying Bitcoin into a corporate cheat code—raising billions, pumping token prices, and fueling meme-driven hype. But the magic loop has snapped. In this video, we break down why the “infinite money glitch” stopped working, how leveraged ETFs magnified losses, and why even Michael Saylor is now hoarding dollars. From gamma trades to meme economics, this is the story of how hype capitalism hit a wall.Zeke Faux on @GoodWorkMB : https://www.youtube.com/watch?v=exoNex2Yn5wPatrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Get an exclusive 15% discount on Saily data plans! Use code BOYLE at checkout. Download Saily app or go to https://saily.com/boyle

For years, firms like MicroStrategy turned buying Bitcoin into a corporate cheat code—raising billions, pumping token prices, and fueling meme-driven hype. But the magic loop has snapped. In this video, we break down why the “infinite money glitch” stopped working, how leveraged ETFs magnified losses, and why even Michael Saylor is now hoarding dollars. From gamma trades to meme economics, this is the story of how hype capitalism hit a wall.

Zeke Faux on @GoodWorkMB : https://www.youtube.com/watch?v=exoNex2Yn5w

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 1990 no What is the Monte Carlo method? | Monte Carlo Simulation in Finance | Pricing Options In today's video we learn all about the Monte Carlo Method in Finance.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoylePatreon Page: https://www.patreon.com/PatrickBoyleOnFinanceWhat is the Monte Carlo Method?Monte Carlo methods, or Monte Carlo experiments, are a broad class of computational algorithms that rely on repeated random sampling to obtain numerical results. The underlying concept is to use randomness to solve problems that might be deterministic in principle. They are often used in physical and mathematical problems and are most useful when it is difficult or impossible to use other approaches. Monte Carlo methods are mainly used in three problem classes: optimization, numerical integration, and generating draws from a probability distribution. In physics-related problems, Monte Carlo methods are useful for simulating systems with many coupled degrees of freedom, such as fluids, disordered materials, strongly coupled solids, and cellular structures. Other examples include modeling phenomena with significant uncertainty in inputs such as the calculation of risk in business and, in maths, evaluation of multidimensional definite integrals with complicated boundary conditions. In application to systems engineering problems (space, oil exploration, aircraft design, etc.), Monte Carlo–based predictions of failure, cost overruns and schedule overruns are routinely better than human intuition or alternative "soft" methods.Monte Carlo methods are used in corporate finance and mathematical finance to value and analyze complex financial instruments, portfolios and investments by simulating the various sources of uncertainty affecting their value, and then determining the distribution of their value over the range of resultant outcomes. This is usually done by help of stochastic asset models. The advantage of Monte Carlo methods over other techniques increases as the dimensions (sources of uncertainty) of the problem increase. In 1977, Phelim Boyle pioneered the use of the Monte Carlo Method in derivative valuation in a Journal of Financial Economics paper. Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 10:50:00 -0000 full Patrick Boyle In today's video we learn all about the Monte Carlo Method in Finance.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoylePatreon Page: https://www.patreon.com/PatrickBoyleOnFinanceWhat is the Monte Carlo Method?Monte Carlo methods, or Monte Carlo experiments, are a broad class of computational algorithms that rely on repeated random sampling to obtain numerical results. The underlying concept is to use randomness to solve problems that might be deterministic in principle. They are often used in physical and mathematical problems and are most useful when it is difficult or impossible to use other approaches. Monte Carlo methods are mainly used in three problem classes: optimization, numerical integration, and generating draws from a probability distribution. In physics-related problems, Monte Carlo methods are useful for simulating systems with many coupled degrees of freedom, such as fluids, disordered materials, strongly coupled solids, and cellular structures. Other examples include modeling phenomena with significant uncertainty in inputs such as the calculation of risk in business and, in maths, evaluation of multidimensional definite integrals with complicated boundary conditions. In application to systems engineering problems (space, oil exploration, aircraft design, etc.), Monte Carlo–based predictions of failure, cost overruns and schedule overruns are routinely better than human intuition or alternative "soft" methods.Monte Carlo methods are used in corporate finance and mathematical finance to value and analyze complex financial instruments, portfolios and investments by simulating the various sources of uncertainty affecting their value, and then determining the distribution of their value over the range of resultant outcomes. This is usually done by help of stochastic asset models. The advantage of Monte Carlo methods over other techniques increases as the dimensions (sources of uncertainty) of the problem increase. In 1977, Phelim Boyle pioneered the use of the Monte Carlo Method in derivative valuation in a Journal of Financial Economics paper. Learn more about your ad choices. Visit megaphone.fm/adchoices In today's video we learn all about the Monte Carlo Method in Finance.

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance

What is the Monte Carlo Method?

Monte Carlo methods, or Monte Carlo experiments, are a broad class of computational algorithms that rely on repeated random sampling to obtain numerical results. The underlying concept is to use randomness to solve problems that might be deterministic in principle. They are often used in physical and mathematical problems and are most useful when it is difficult or impossible to use other approaches. Monte Carlo methods are mainly used in three problem classes: optimization, numerical integration, and generating draws from a probability distribution.

In physics-related problems, Monte Carlo methods are useful for simulating systems with many coupled degrees of freedom, such as fluids, disordered materials, strongly coupled solids, and cellular structures. Other examples include modeling phenomena with significant uncertainty in inputs such as the calculation of risk in business and, in maths, evaluation of multidimensional definite integrals with complicated boundary conditions. In application to systems engineering problems (space, oil exploration, aircraft design, etc.), Monte Carlo–based predictions of failure, cost overruns and schedule overruns are routinely better than human intuition or alternative "soft" methods.

Monte Carlo methods are used in corporate finance and mathematical finance to value and analyze complex financial instruments, portfolios and investments by simulating the various sources of uncertainty affecting their value, and then determining the distribution of their value over the range of resultant outcomes. This is usually done by help of stochastic asset models. The advantage of Monte Carlo methods over other techniques increases as the dimensions (sources of uncertainty) of the problem increase.

In 1977, Phelim Boyle pioneered the use of the Monte Carlo Method in derivative valuation in a Journal of Financial Economics paper.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 883 no Hard Times - The Great Depression. Enjoy up to 50% off Ekster's Black Friday! Go to https://partner.ekster.com/pboyle and use code BOYLE at checkout to unlock further savings!The Great Depression was the worst and deepest peacetime economic shock in the history of the industrialized world. It brought about profound social change and was a significant factor in the drift towards the Second World War.The depth of suffering during the Depression years is hard for many of us to imagine today. More than 1 in five children in the city were suffering from malnutrition by 1932, and the Great Depression was only getting going at that point, it lasted seven more years. So, why did events on Wall Street in 1929 reverberate around the world? Why did the depression last so long, and how did America and the rest of the world eventually dig themselves out of this financial hole?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleAdditional Reading:Milton Friedman on The Great Depression: https://amzn.to/4fvMYF6The Great Depression by Robert S. McElvaine: https://amzn.to/40SzajtEssays on The Great Depression by Ben Bernanke: https://amzn.to/40SzajtKeynes letter: https://www.economicsnetwork.ac.uk/archive/keynes_persuasion/The_Economic_Consequences_of_Mr._Churchill.htmThe U.S. Economy in the 1920s: https://eh.net/encyclopedia/the-u-s-economy-in-the-1920s/Britain In The Great Depression: https://moneyweek.com/economy/uk-economy/602525/britain-didnt-have-a-roaring-20s-it-had-a-roaring-30s-heres-whyMichael Pettis in The FT: https://www.ft.com/content/ec1b730b-0fbf-3a8c-896a-557c06f730cfThe photographers of the Great Depression - Dorothea Lange, Walker Evans, and Arthur RothsteinBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 10:50:00 -0000 full Patrick Boyle Enjoy up to 50% off Ekster's Black Friday! Go to https://partner.ekster.com/pboyle and use code BOYLE at checkout to unlock further savings!The Great Depression was the worst and deepest peacetime economic shock in the history of the industrialized world. It brought about profound social change and was a significant factor in the drift towards the Second World War.The depth of suffering during the Depression years is hard for many of us to imagine today. More than 1 in five children in the city were suffering from malnutrition by 1932, and the Great Depression was only getting going at that point, it lasted seven more years. So, why did events on Wall Street in 1929 reverberate around the world? Why did the depression last so long, and how did America and the rest of the world eventually dig themselves out of this financial hole?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleAdditional Reading:Milton Friedman on The Great Depression: https://amzn.to/4fvMYF6The Great Depression by Robert S. McElvaine: https://amzn.to/40SzajtEssays on The Great Depression by Ben Bernanke: https://amzn.to/40SzajtKeynes letter: https://www.economicsnetwork.ac.uk/archive/keynes_persuasion/The_Economic_Consequences_of_Mr._Churchill.htmThe U.S. Economy in the 1920s: https://eh.net/encyclopedia/the-u-s-economy-in-the-1920s/Britain In The Great Depression: https://moneyweek.com/economy/uk-economy/602525/britain-didnt-have-a-roaring-20s-it-had-a-roaring-30s-heres-whyMichael Pettis in The FT: https://www.ft.com/content/ec1b730b-0fbf-3a8c-896a-557c06f730cfThe photographers of the Great Depression - Dorothea Lange, Walker Evans, and Arthur RothsteinBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Enjoy up to 50% off Ekster's Black Friday! Go to https://partner.ekster.com/pboyle and use code BOYLE at checkout to unlock further savings!

The Great Depression was the worst and deepest peacetime economic shock in the history of the industrialized world. It brought about profound social change and was a significant factor in the drift towards the Second World War.
The depth of suffering during the Depression years is hard for many of us to imagine today. More than 1 in five children in the city were suffering from malnutrition by 1932, and the Great Depression was only getting going at that point, it lasted seven more years.
So, why did events on Wall Street in 1929 reverberate around the world? Why did the depression last so long, and how did America and the rest of the world eventually dig themselves out of this financial hole?

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Additional Reading:
Milton Friedman on The Great Depression: https://amzn.to/4fvMYF6
The Great Depression by Robert S. McElvaine: https://amzn.to/40Szajt
Essays on The Great Depression by Ben Bernanke: https://amzn.to/40Szajt
Keynes letter: https://www.economicsnetwork.ac.uk/archive/keynes_persuasion/The_Economic_Consequences_of_Mr._Churchill.htm
The U.S. Economy in the 1920s: https://eh.net/encyclopedia/the-u-s-economy-in-the-1920s/
Britain In The Great Depression: https://moneyweek.com/economy/uk-economy/602525/britain-didnt-have-a-roaring-20s-it-had-a-roaring-30s-heres-why
Michael Pettis in The FT: https://www.ft.com/content/ec1b730b-0fbf-3a8c-896a-557c06f730cf
The photographers of the Great Depression - Dorothea Lange, Walker Evans, and Arthur Rothstein

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

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]]> 3688 no How and why do companies hedge? Should companies use derivatives to hedge? How and why do companies hedge?These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleShould Companies Use Derivatives to Hedge?Over the last several decades, the use of derivatives as a tool to mitigate and control risk has expanded significantly. Despite well-publicized abuses involving derivatives, the efficacy of derivatives as a means of managing economic and other forms of risk remains widely accepted. The evolving mix of users of derivatives in the last ten years has also impacted the derivatives landscape. Traditionally, commercial hedgers such as processors, mills and large corporations used derivatives to manage risks; today, while commercial hedgers remain active, much of the increase in volume in derivatives is attributable to non-traditional end-users, such as public companies, which have been active users of derivatives, most notably interest rate and foreign currency hedging instruments. Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 10:21:15 -0000 full Patrick Boyle Should companies use derivatives to hedge? How and why do companies hedge?These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleShould Companies Use Derivatives to Hedge?Over the last several decades, the use of derivatives as a tool to mitigate and control risk has expanded significantly. Despite well-publicized abuses involving derivatives, the efficacy of derivatives as a means of managing economic and other forms of risk remains widely accepted. The evolving mix of users of derivatives in the last ten years has also impacted the derivatives landscape. Traditionally, commercial hedgers such as processors, mills and large corporations used derivatives to manage risks; today, while commercial hedgers remain active, much of the increase in volume in derivatives is attributable to non-traditional end-users, such as public companies, which have been active users of derivatives, most notably interest rate and foreign currency hedging instruments. Learn more about your ad choices. Visit megaphone.fm/adchoices Should companies use derivatives to hedge? How and why do companies hedge?

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

Should Companies Use Derivatives to Hedge?

Over the last several decades, the use of derivatives as a tool to mitigate and control risk has expanded significantly. Despite well-publicized abuses involving derivatives, the efficacy of derivatives as a means of managing economic and other forms of risk remains widely accepted. The evolving mix of users of derivatives in the last ten years has also impacted the derivatives landscape. Traditionally, commercial hedgers such as processors, mills and large corporations used derivatives to manage risks; today, while commercial hedgers remain active, much of the increase in volume in derivatives is attributable to non-traditional end-users, such as public companies, which have been active users of derivatives, most notably interest rate and foreign currency hedging instruments.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 727 no How Would Mass Deportations Affect the US Economy? Go to https://ground.news/pb to get up to 40% off unlimited access to stay fully informed. Subscribe through my link this month for 40% off unlimited access. Donald Trump has promised to conduct “the largest deportation effort in American history,” no matter what it costs—but the price tag may be bigger than expected.In today's video we look at a history of US border control and the economic costs of deporting more than six percent of the US workforce while the US workforce ages. Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Links:Chloe East - The Labor Market Effects of Immigration Enforcement: https://www.journals.uchicago.edu/doi/epdf/10.1086/721152Chloe East - Unintended Consequences of Immigration Enforcement: https://jhr.uwpress.org/content/early/2022/05/02/jhr.0920-11197R1Warwick McKibbin presentation: https://www.youtube.com/watch?v=QV3lxKYIDFEWhat Will Mass Deportations Look Like: What Will Mass Deportations Look Like? How many people did Obama, Biden and Trump actually deport? https://www.the-independent.com/news/world/americas/us-politics/trump-deportation-numbers-obama-biden-b2649257.htmlSarah O’Connor Article: https://www.ft.com/content/2bb60c40-efe1-48d1-9c9e-b9ff672ce349Who is right about ‘Maganomics? https://www.ft.com/content/76ee5977-1f16-470b-86a5-400209aad5a3What we know about unauthorized immigrants living in the U.S: https://www.pewresearch.org/short-reads/2024/07/22/what-we-know-about-unauthorized-immigrants-living-in-the-us/Join this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 10:21:15 -0000 full Patrick Boyle Go to https://ground.news/pb to get up to 40% off unlimited access to stay fully informed. Subscribe through my link this month for 40% off unlimited access. Donald Trump has promised to conduct “the largest deportation effort in American history,” no matter what it costs—but the price tag may be bigger than expected.In today's video we look at a history of US border control and the economic costs of deporting more than six percent of the US workforce while the US workforce ages. Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Links:Chloe East - The Labor Market Effects of Immigration Enforcement: https://www.journals.uchicago.edu/doi/epdf/10.1086/721152Chloe East - Unintended Consequences of Immigration Enforcement: https://jhr.uwpress.org/content/early/2022/05/02/jhr.0920-11197R1Warwick McKibbin presentation: https://www.youtube.com/watch?v=QV3lxKYIDFEWhat Will Mass Deportations Look Like: What Will Mass Deportations Look Like? How many people did Obama, Biden and Trump actually deport? https://www.the-independent.com/news/world/americas/us-politics/trump-deportation-numbers-obama-biden-b2649257.htmlSarah O’Connor Article: https://www.ft.com/content/2bb60c40-efe1-48d1-9c9e-b9ff672ce349Who is right about ‘Maganomics? https://www.ft.com/content/76ee5977-1f16-470b-86a5-400209aad5a3What we know about unauthorized immigrants living in the U.S: https://www.pewresearch.org/short-reads/2024/07/22/what-we-know-about-unauthorized-immigrants-living-in-the-us/Join this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Go to https://ground.news/pb to get up to 40% off unlimited access to stay fully informed. Subscribe through my link this month for 40% off unlimited access.

Donald Trump has promised to conduct “the largest deportation effort in American history,” no matter what it costs—but the price tag may be bigger than expected.

In today's video we look at a history of US border control and the economic costs of deporting more than six percent of the US workforce while the US workforce ages.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313

Links:
Chloe East - The Labor Market Effects of Immigration Enforcement: https://www.journals.uchicago.edu/doi/epdf/10.1086/721152
Chloe East - Unintended Consequences of Immigration Enforcement: https://jhr.uwpress.org/content/early/2022/05/02/jhr.0920-11197R1
Warwick McKibbin presentation: https://www.youtube.com/watch?v=QV3lxKYIDFE
What Will Mass Deportations Look Like: What Will Mass Deportations Look Like?
How many people did Obama, Biden and Trump actually deport? https://www.the-independent.com/news/world/americas/us-politics/trump-deportation-numbers-obama-biden-b2649257.html
Sarah O’Connor Article: https://www.ft.com/content/2bb60c40-efe1-48d1-9c9e-b9ff672ce349
Who is right about ‘Maganomics? https://www.ft.com/content/76ee5977-1f16-470b-86a5-400209aad5a3
What we know about unauthorized immigrants living in the U.S: https://www.pewresearch.org/short-reads/2024/07/22/what-we-know-about-unauthorized-immigrants-living-in-the-us/

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2371 no What are Asset Backed Securities? In todays video we learn what are asset backed securities, what are credit card receivables and what is a Special Purpose Vehicle (SPV)?These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is an Asset-Backed Security (ABS)?An asset-backed security (ABS) is a financial security collateralized by a pool of assets such as loans, leases, credit card debt, royalties or receivables. For investors, asset-backed securities are an alternative to investing in corporate debt. An ABS is similar to a mortgage-backed security, except that the underlying securities are not mortgage-based.Credit card asset-backed securities (ABSs) are fixed-income bonds based on the cash flow stream from pooled credit card accounts. First issued in 1987, credit card ABSs are mostly high quality, pay good yields, and are liquid, with transparent prices. The number of credit card ABSs increase as the use of credit increases. However, like most asset-backed securities and unlike most corporate or government bonds, credit card ABSs have only an average maturity rather than a specified maturity because the underlying cash flow is highly variable. Credit card ABSs are structured so as to mimic the cash flow of a typical bond, but the timing of the cash flow is usually not guaranteed.The process of securitizing credit card receivables is very similar to that of securitizing mortgages and other loan obligations. A card issuer sells a group of accounts to a trust, which issues securities backed by those receivables. The card issuer still services the account, but the assets are removed from its balance sheet. This allows the card issuer to issue more accounts and to reduce its capital reserve requirements, the amount of money banks are required by law to hold to do business. This money doesn't earn interest, so, naturally, the card issuer wants to reduce its required reserves as much as possible. As the cardholders pay on their accounts monthly, most of the money is sent to the trust, which pays the holders of the credit card ABSs interest and principal. The card issuer retains a servicing fee and part of the finance charge as profit, and also includes part of the principal—the seller's interest.Securitization allows more rapid growth of banks specializing in credit card issuances by providing a source of funding and transferring risk. Before the securitization of credit card receivables, card issuers borrowed money from a bank or relied on bank deposits to fund credit card loans. Securitization greatly expanded funding for credit card issuers, including monoline issuers, and issuers whose main business is not banking or issuing credit cards, such as Amazon.com.A special-purpose vehicle, or special-purpose entity (SPE; or SPV, or, in some cases in each EU jurisdiction – FVC, financial vehicle corporation) is a legal entity (usually a limited company of some type or, sometimes, a limited partnership) created to fulfill narrow, specific or temporary objectives. SPEs are typically used by companies to isolate the firm from financial risk. A formal definition is "The Special Purpose Entity is a fenced organization having limited predefined purposes and a legal personality"Trading and pricing financial derivatives. Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 09:52:30 -0000 full Patrick Boyle In todays video we learn what are asset backed securities, what are credit card receivables and what is a Special Purpose Vehicle (SPV)?These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is an Asset-Backed Security (ABS)?An asset-backed security (ABS) is a financial security collateralized by a pool of assets such as loans, leases, credit card debt, royalties or receivables. For investors, asset-backed securities are an alternative to investing in corporate debt. An ABS is similar to a mortgage-backed security, except that the underlying securities are not mortgage-based.Credit card asset-backed securities (ABSs) are fixed-income bonds based on the cash flow stream from pooled credit card accounts. First issued in 1987, credit card ABSs are mostly high quality, pay good yields, and are liquid, with transparent prices. The number of credit card ABSs increase as the use of credit increases. However, like most asset-backed securities and unlike most corporate or government bonds, credit card ABSs have only an average maturity rather than a specified maturity because the underlying cash flow is highly variable. Credit card ABSs are structured so as to mimic the cash flow of a typical bond, but the timing of the cash flow is usually not guaranteed.The process of securitizing credit card receivables is very similar to that of securitizing mortgages and other loan obligations. A card issuer sells a group of accounts to a trust, which issues securities backed by those receivables. The card issuer still services the account, but the assets are removed from its balance sheet. This allows the card issuer to issue more accounts and to reduce its capital reserve requirements, the amount of money banks are required by law to hold to do business. This money doesn't earn interest, so, naturally, the card issuer wants to reduce its required reserves as much as possible. As the cardholders pay on their accounts monthly, most of the money is sent to the trust, which pays the holders of the credit card ABSs interest and principal. The card issuer retains a servicing fee and part of the finance charge as profit, and also includes part of the principal—the seller's interest.Securitization allows more rapid growth of banks specializing in credit card issuances by providing a source of funding and transferring risk. Before the securitization of credit card receivables, card issuers borrowed money from a bank or relied on bank deposits to fund credit card loans. Securitization greatly expanded funding for credit card issuers, including monoline issuers, and issuers whose main business is not banking or issuing credit cards, such as Amazon.com.A special-purpose vehicle, or special-purpose entity (SPE; or SPV, or, in some cases in each EU jurisdiction – FVC, financial vehicle corporation) is a legal entity (usually a limited company of some type or, sometimes, a limited partnership) created to fulfill narrow, specific or temporary objectives. SPEs are typically used by companies to isolate the firm from financial risk. A formal definition is "The Special Purpose Entity is a fenced organization having limited predefined purposes and a legal personality"Trading and pricing financial derivatives. Learn more about your ad choices. Visit megaphone.fm/adchoices In todays video we learn what are asset backed securities, what are credit card receivables and what is a Special Purpose Vehicle (SPV)?

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

What is an Asset-Backed Security (ABS)?
An asset-backed security (ABS) is a financial security collateralized by a pool of assets such as loans, leases, credit card debt, royalties or receivables. For investors, asset-backed securities are an alternative to investing in corporate debt. An ABS is similar to a mortgage-backed security, except that the underlying securities are not mortgage-based.

Credit card asset-backed securities (ABSs) are fixed-income bonds based on the cash flow stream from pooled credit card accounts. First issued in 1987, credit card ABSs are mostly high quality, pay good yields, and are liquid, with transparent prices. The number of credit card ABSs increase as the use of credit increases. However, like most asset-backed securities and unlike most corporate or government bonds, credit card ABSs have only an average maturity rather than a specified maturity because the underlying cash flow is highly variable. Credit card ABSs are structured so as to mimic the cash flow of a typical bond, but the timing of the cash flow is usually not guaranteed.

The process of securitizing credit card receivables is very similar to that of securitizing mortgages and other loan obligations. A card issuer sells a group of accounts to a trust, which issues securities backed by those receivables. The card issuer still services the account, but the assets are removed from its balance sheet. This allows the card issuer to issue more accounts and to reduce its capital reserve requirements, the amount of money banks are required by law to hold to do business. This money doesn't earn interest, so, naturally, the card issuer wants to reduce its required reserves as much as possible. As the cardholders pay on their accounts monthly, most of the money is sent to the trust, which pays the holders of the credit card ABSs interest and principal. The card issuer retains a servicing fee and part of the finance charge as profit, and also includes part of the principal—the seller's interest.

Securitization allows more rapid growth of banks specializing in credit card issuances by providing a source of funding and transferring risk. Before the securitization of credit card receivables, card issuers borrowed money from a bank or relied on bank deposits to fund credit card loans. Securitization greatly expanded funding for credit card issuers, including monoline issuers, and issuers whose main business is not banking or issuing credit cards, such as Amazon.com.

A special-purpose vehicle, or special-purpose entity (SPE; or SPV, or, in some cases in each EU jurisdiction – FVC, financial vehicle corporation) is a legal entity (usually a limited company of some type or, sometimes, a limited partnership) created to fulfill narrow, specific or temporary objectives. SPEs are typically used by companies to isolate the firm from financial risk. A formal definition is "The Special Purpose Entity is a fenced organization having limited predefined purposes and a legal personality"

Trading and pricing financial derivatives.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 881 no Financial Derivatives - Lecture 7 - Forward Rate Agreements and Swaps These full length lectures are being provided for students who are unable to attend live university lectures due to the public health issues associated with Covid 19. I will return to my standard YouTube video format shortly.Buy The Book Here: https://amzn.to/2Qdj9zuVisit our website. www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleFull two hour university lecture on forward rate agreements and swaps. In this lecture we learn about forward rate curves, FRA's and swaps. We learn about the plain vanilla swap, interest rate swaps, foreign exchange swaps, variance swaps and dividend swaps. We learn two methods for pricing swaps, how swaps are traded and how the law of comparative advantage applies to swaps. This is lecture seven of a ten lecture series on financial derivatives for Masters in Finance Students, recorded in 2020. The lecture is based on the book Trading and Pricing Financial Derivatives and is taught by Patrick Boyle Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 09:52:30 -0000 full Patrick Boyle These full length lectures are being provided for students who are unable to attend live university lectures due to the public health issues associated with Covid 19. I will return to my standard YouTube video format shortly.Buy The Book Here: https://amzn.to/2Qdj9zuVisit our website. www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleFull two hour university lecture on forward rate agreements and swaps. In this lecture we learn about forward rate curves, FRA's and swaps. We learn about the plain vanilla swap, interest rate swaps, foreign exchange swaps, variance swaps and dividend swaps. We learn two methods for pricing swaps, how swaps are traded and how the law of comparative advantage applies to swaps. This is lecture seven of a ten lecture series on financial derivatives for Masters in Finance Students, recorded in 2020. The lecture is based on the book Trading and Pricing Financial Derivatives and is taught by Patrick Boyle Learn more about your ad choices. Visit megaphone.fm/adchoices These full length lectures are being provided for students who are unable to attend live university lectures due to the public health issues associated with Covid 19. I will return to my standard YouTube video format shortly.

Buy The Book Here: https://amzn.to/2Qdj9zu
Visit our website. www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle


Full two hour university lecture on forward rate agreements and swaps. In this lecture we learn about forward rate curves, FRA's and swaps. We learn about the plain vanilla swap, interest rate swaps, foreign exchange swaps, variance swaps and dividend swaps. We learn two methods for pricing swaps, how swaps are traded and how the law of comparative advantage applies to swaps. This is lecture seven of a ten lecture series on financial derivatives for Masters in Finance Students, recorded in 2020. The lecture is based on the book Trading and Pricing Financial Derivatives and is taught by Patrick Boyle

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 6876 no Does Europe Have a Financial Nuclear Option? Click the link below to get started with Genspark and lock in unlimited access for all of 2026.https://www.genspark.ai/?utm_source=yt&utm_campaign=PBoyleGenspark includes unlimited usage of AI Chat and AI Image in 2026 — with top models available inside these features, including Nano Banana Pro, GPT Image, Flux, Seedream, Gemini 3 Pro, GPT-5.2, Claude Opus 4.5, and more. @GensparkProduct #Genspark #WorkwithGensparkThe recent Greenland crisis at Davos 2026 has shattered transatlantic trust, forcing Europe to confront a terrifying new reality: the need for strategic autonomy from the United States. Faced with what it views as transactional coercion, Brussels is readying an arsenal of economic countermeasures, ranging from a "trade bazooka" targeting U.S. tech firms to the highly publicized "financial nuclear option"—the threat of dumping trillions in U.S. Treasuries. But before we panic about a bond market collapse, we need to examine the hard financial realities: Is weaponizing sovereign debt a viable strategy, or is it merely a macroeconomic suicide pact? This video dives into the mechanics of this potential economic war and the high cost of moving from an era of global efficiency to one of fearful autarkyMichael Pettis Paper: https://carnegieendowment.org/china-financial-markets/2025/07/foreign-capital-inflows-dont-lower-us-interest-ratesMartin Wolf Article: https://www.ft.com/content/e2c8c6c3-0cdc-4aa8-a47d-399407c75ad9Richard Samans Paper: https://www.brookings.edu/articles/rebalancing-the-world-economy-right-idea-but-wrong-approach/Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 09:23:45 -0000 full Patrick Boyle Click the link below to get started with Genspark and lock in unlimited access for all of 2026.https://www.genspark.ai/?utm_source=yt&utm_campaign=PBoyleGenspark includes unlimited usage of AI Chat and AI Image in 2026 — with top models available inside these features, including Nano Banana Pro, GPT Image, Flux, Seedream, Gemini 3 Pro, GPT-5.2, Claude Opus 4.5, and more. @GensparkProduct #Genspark #WorkwithGensparkThe recent Greenland crisis at Davos 2026 has shattered transatlantic trust, forcing Europe to confront a terrifying new reality: the need for strategic autonomy from the United States. Faced with what it views as transactional coercion, Brussels is readying an arsenal of economic countermeasures, ranging from a "trade bazooka" targeting U.S. tech firms to the highly publicized "financial nuclear option"—the threat of dumping trillions in U.S. Treasuries. But before we panic about a bond market collapse, we need to examine the hard financial realities: Is weaponizing sovereign debt a viable strategy, or is it merely a macroeconomic suicide pact? This video dives into the mechanics of this potential economic war and the high cost of moving from an era of global efficiency to one of fearful autarkyMichael Pettis Paper: https://carnegieendowment.org/china-financial-markets/2025/07/foreign-capital-inflows-dont-lower-us-interest-ratesMartin Wolf Article: https://www.ft.com/content/e2c8c6c3-0cdc-4aa8-a47d-399407c75ad9Richard Samans Paper: https://www.brookings.edu/articles/rebalancing-the-world-economy-right-idea-but-wrong-approach/Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Click the link below to get started with Genspark and lock in unlimited access for all of 2026.
https://www.genspark.ai/?utm_source=yt&utm_campaign=PBoyle

Genspark includes unlimited usage of AI Chat and AI Image in 2026 — with top models available inside these features, including Nano Banana Pro, GPT Image, Flux, Seedream, Gemini 3 Pro, GPT-5.2, Claude Opus 4.5, and more. @GensparkProduct #Genspark #WorkwithGenspark

The recent Greenland crisis at Davos 2026 has shattered transatlantic trust, forcing Europe to confront a terrifying new reality: the need for strategic autonomy from the United States. Faced with what it views as transactional coercion, Brussels is readying an arsenal of economic countermeasures, ranging from a "trade bazooka" targeting U.S. tech firms to the highly publicized "financial nuclear option"—the threat of dumping trillions in U.S. Treasuries. But before we panic about a bond market collapse, we need to examine the hard financial realities: Is weaponizing sovereign debt a viable strategy, or is it merely a macroeconomic suicide pact? This video dives into the mechanics of this potential economic war and the high cost of moving from an era of global efficiency to one of fearful autarky

Michael Pettis Paper: https://carnegieendowment.org/china-financial-markets/2025/07/foreign-capital-inflows-dont-lower-us-interest-rates
Martin Wolf Article: https://www.ft.com/content/e2c8c6c3-0cdc-4aa8-a47d-399407c75ad9
Richard Samans Paper: https://www.brookings.edu/articles/rebalancing-the-world-economy-right-idea-but-wrong-approach/

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

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]]> 1955 no The Book That Wasn’t Supposed to Exist - Epstein's Birthday Book Released! Go to https://surfshark.com/boyle or use code BOYLE at checkout to get 4 extra months of Surfshark VPN!In 2003, Ghislaine Maxwell compiled a 238-page leather-bound book for Jeffrey Epstein — filled with letters, sketches, poems, and photos from billionaires, politicians, scientists, and celebrities. This book was never meant to be public. But now, thanks to the House Oversight Committee, it’s part of the public record — and it’s worse than anyone expected.We’ll also explore the deeper questions: Where did Epstein’s money come from? Why hasn’t the government followed the money? And what does this say about the two-tiered justice system in America?This scandal isn’t just about Epstein. It’s about the system that made him possible.Link to my original Epstein Video: https://youtu.be/CbJSgan4mfQPatrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 09:23:45 -0000 full Patrick Boyle Go to https://surfshark.com/boyle or use code BOYLE at checkout to get 4 extra months of Surfshark VPN!In 2003, Ghislaine Maxwell compiled a 238-page leather-bound book for Jeffrey Epstein — filled with letters, sketches, poems, and photos from billionaires, politicians, scientists, and celebrities. This book was never meant to be public. But now, thanks to the House Oversight Committee, it’s part of the public record — and it’s worse than anyone expected.We’ll also explore the deeper questions: Where did Epstein’s money come from? Why hasn’t the government followed the money? And what does this say about the two-tiered justice system in America?This scandal isn’t just about Epstein. It’s about the system that made him possible.Link to my original Epstein Video: https://youtu.be/CbJSgan4mfQPatrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Go to https://surfshark.com/boyle or use code BOYLE at checkout to get 4 extra months of Surfshark VPN!

In 2003, Ghislaine Maxwell compiled a 238-page leather-bound book for Jeffrey Epstein — filled with letters, sketches, poems, and photos from billionaires, politicians, scientists, and celebrities. This book was never meant to be public. But now, thanks to the House Oversight Committee, it’s part of the public record — and it’s worse than anyone expected.

We’ll also explore the deeper questions: Where did Epstein’s money come from? Why hasn’t the government followed the money? And what does this say about the two-tiered justice system in America?

This scandal isn’t just about Epstein. It’s about the system that made him possible.

Link to my original Epstein Video: https://youtu.be/CbJSgan4mfQ

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
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]]> 2767 no What are Financial Futures? What are Financial Futures?A futures contract is a legal agreement to buy or sell a particular asset at an agreed price at an agreed time in the future. Futures contracts are standardized for quality and quantity to facilitate trading on a futures exchange. The buyer of a futures contract is taking on the obligation to buy the underlying asset when the futures contract expires. The seller of the futures contract is taking on the obligation to provide the underlying asset at the expiration date.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 08:55:00 -0000 full Patrick Boyle What are Financial Futures?A futures contract is a legal agreement to buy or sell a particular asset at an agreed price at an agreed time in the future. Futures contracts are standardized for quality and quantity to facilitate trading on a futures exchange. The buyer of a futures contract is taking on the obligation to buy the underlying asset when the futures contract expires. The seller of the futures contract is taking on the obligation to provide the underlying asset at the expiration date.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices What are Financial Futures?
A futures contract is a legal agreement to buy or sell a particular asset at an agreed price at an agreed time in the future. Futures contracts are standardized for quality and quantity to facilitate trading on a futures exchange. The buyer of a futures contract is taking on the obligation to buy the underlying asset when the futures contract expires. The seller of the futures contract is taking on the obligation to provide the underlying asset at the expiration date.

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 483 no The FBI Rounded Up Crypto Criminals and It was Funny! Get 50% off your first order of CookUnity meals — go to https://cookunity.com/pboyle50 and use my code PBOYLE50 at checkout to try them out for yourself! Thanks to CookUnity for sponsoring this video!The FBI created their own crypto token called NexFundAI as part of an investigation into price manipulation in crypto markets. As a result of the investigation, the SEC charged three “so-called market makers” and nine individuals for allegedly engaging in schemes to boost the prices of certain crypto assets. The Department of Justice charged 18 people and entities for “widespread fraud and manipulation” in crypto markets.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleAdditional Links:SEC Press Release: https://www.sec.gov/newsroom/press-releases/2024-166U.S. Attorney's Office, District of Massachusetts: https://www.justice.gov/usao-ma/pr/eighteen-individuals-and-entities-charged-international-operation-targeting-widespreadLink To Report Losses: https://forms.fbi.gov/seeking-information-in-cryptocurrency-investment-fraud-investigationBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 08:55:00 -0000 full Patrick Boyle Get 50% off your first order of CookUnity meals — go to https://cookunity.com/pboyle50 and use my code PBOYLE50 at checkout to try them out for yourself! Thanks to CookUnity for sponsoring this video!The FBI created their own crypto token called NexFundAI as part of an investigation into price manipulation in crypto markets. As a result of the investigation, the SEC charged three “so-called market makers” and nine individuals for allegedly engaging in schemes to boost the prices of certain crypto assets. The Department of Justice charged 18 people and entities for “widespread fraud and manipulation” in crypto markets.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleAdditional Links:SEC Press Release: https://www.sec.gov/newsroom/press-releases/2024-166U.S. Attorney's Office, District of Massachusetts: https://www.justice.gov/usao-ma/pr/eighteen-individuals-and-entities-charged-international-operation-targeting-widespreadLink To Report Losses: https://forms.fbi.gov/seeking-information-in-cryptocurrency-investment-fraud-investigationBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Get 50% off your first order of CookUnity meals — go to https://cookunity.com/pboyle50 and use my code PBOYLE50 at checkout to try them out for yourself! Thanks to CookUnity for sponsoring this video!

The FBI created their own crypto token called NexFundAI as part of an investigation into price manipulation in crypto markets. As a result of the investigation, the SEC charged three “so-called market makers” and nine individuals for allegedly engaging in schemes to boost the prices of certain crypto assets. The Department of Justice charged 18 people and entities for “widespread fraud and manipulation” in crypto markets.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Additional Links:
SEC Press Release: https://www.sec.gov/newsroom/press-releases/2024-166
U.S. Attorney's Office, District of Massachusetts: https://www.justice.gov/usao-ma/pr/eighteen-individuals-and-entities-charged-international-operation-targeting-widespread
Link To Report Losses: https://forms.fbi.gov/seeking-information-in-cryptocurrency-investment-fraud-investigation

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 1729 no How SpaceX Humiliated Wall Street Get an exclusive 15% discount on Saily data plans! Use code BOYLE at checkout. Download Saily app or go to https://saily.com/boyleYesterday SpaceX became the largest company ever to go public, in an IPO that values Elon Musk's rocket-and-AI conglomerate at $1.78 trillion. But SpaceX is just the first. Anthropic and OpenAI have both filed to go public, Alphabet has just raised a record $85 billion in new stock, and Meta is reportedly considering doing the same. Goldman Sachs expects as much as $675 billion of new equity to hit the market this year.For two decades the stock market did nothing but shrink — companies stayed private, bought back their own shares, and got taken private by private equity, leaving less and less stock to go around. That era is now over. In this video I look at why all of this is happening at once, what the AI buildout has to do with it, why the SpaceX deal has been such an awkward experience for Wall Street, what the prospectus actually reveals about where the $75 billion is going, and whether any of it is a good investment — with a look back at what happened to people who bought Cisco at the top in 2000.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 08:26:15 -0000 full Patrick Boyle Get an exclusive 15% discount on Saily data plans! Use code BOYLE at checkout. Download Saily app or go to https://saily.com/boyleYesterday SpaceX became the largest company ever to go public, in an IPO that values Elon Musk's rocket-and-AI conglomerate at $1.78 trillion. But SpaceX is just the first. Anthropic and OpenAI have both filed to go public, Alphabet has just raised a record $85 billion in new stock, and Meta is reportedly considering doing the same. Goldman Sachs expects as much as $675 billion of new equity to hit the market this year.For two decades the stock market did nothing but shrink — companies stayed private, bought back their own shares, and got taken private by private equity, leaving less and less stock to go around. That era is now over. In this video I look at why all of this is happening at once, what the AI buildout has to do with it, why the SpaceX deal has been such an awkward experience for Wall Street, what the prospectus actually reveals about where the $75 billion is going, and whether any of it is a good investment — with a look back at what happened to people who bought Cisco at the top in 2000.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Get an exclusive 15% discount on Saily data plans! Use code BOYLE at checkout. Download Saily app or go to https://saily.com/boyle

Yesterday SpaceX became the largest company ever to go public, in an IPO that values Elon Musk's rocket-and-AI conglomerate at $1.78 trillion. But SpaceX is just the first. Anthropic and OpenAI have both filed to go public, Alphabet has just raised a record $85 billion in new stock, and Meta is reportedly considering doing the same. Goldman Sachs expects as much as $675 billion of new equity to hit the market this year.

For two decades the stock market did nothing but shrink — companies stayed private, bought back their own shares, and got taken private by private equity, leaving less and less stock to go around. That era is now over. In this video I look at why all of this is happening at once, what the AI buildout has to do with it, why the SpaceX deal has been such an awkward experience for Wall Street, what the prospectus actually reveals about where the $75 billion is going, and whether any of it is a good investment — with a look back at what happened to people who bought Cisco at the top in 2000.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2930 no Warren Buffett's Berkshire Hathaway is Not Buying Stocks Now. Annual Meeting 2020 Preview. 10-Q Warren Buffett’s Berkshire Hathaway slumps to $50bn loss, their largest quarterly loss ever. The stock market sell-off hurt investment holdings despite an uptick in operating profit.Warren Buffett, one of history’s greatest investors, has not been immune to the rough recent market environment. Today's video is about Buffett's quarterly report Q1 2020 or 10-Q released May 2, 2020, and what it tells us about investing in these uncertain times.Berkshire Class A shares were down around 19% YTD as of Friday afternoon May 1, 2020, off 16% over the past 12 months. The S&P 500 is down 3% over the same period.The Berkshire Hathaway 2020 Annual Meeting goes live on the internet this afternoon. This video gives a preview of some of the topics likely to be discussed.Buffett recently called oil volatility and the panic hitting markets a “big one-two punch.”The COVID-19 pandemic will likely be the largest event in insurance-industry history because it affects both sides of the balance sheet. How will this affect Berkshire Hathaway?Auto insurers, such as Berkshire’s Geico, have returned some premiums to consumers as driving decreases, which could translate into fewer accidents. The industry may also see potential claims from business interruptions, canceled events, and workers’ compensation claims.The COVID-19 lockdown has not been kind to value portfolios, value stocks today are highly economically sensitive and levered. By contrast, growth stocks had limited leverage coming into this crisis and software-based business models better suited to the economy effectively closing.Buffett highlighted that many of the biggest tech stocks in the S&P don’t really require capital.Value often performs best coming out of a recession, and for that reason everyone wants to know when will Buffett start deploying Berkshire's 128 billion dollar cash position.Charlie Munger told The Wall Street Journal last month that Berkshire would likely close some of its smaller holdings as a result of the pandemic but didn’t specify which specific businesses would be affected. Investors are eager to find out.Berkshire sold off sizeable stakes in Delta Air Lines and Southwest Airlines as the coronavirus battered the travel industry.Buffett has stated that he constantly seeks to buy businesses that meet three criteria. 1. First, they must earn good returns on the net tangible capital required in their operation.2. Second, they must be run by able and honest managers. 3. Finally, they must be available at a sensible price.When Warren Buffett, the Oracle of Omaha speaks, investors from around the world listen. If Warren Buffett has any words of comfort or warning for stock-market investors, they will hear them later today.The Berkshire Hathaway Annual Meeting which last year drew over 40,000 attendees will be streamed live online at 3PM central time.Buy Patrick's Book Here: https://amzn.to/2J2kF3AVisit our website: http://onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePatreon Page: https://www.patreon.com/PatrickBoyleOnFinance Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 08:26:15 -0000 full Patrick Boyle Warren Buffett’s Berkshire Hathaway slumps to $50bn loss, their largest quarterly loss ever. The stock market sell-off hurt investment holdings despite an uptick in operating profit.Warren Buffett, one of history’s greatest investors, has not been immune to the rough recent market environment. Today's video is about Buffett's quarterly report Q1 2020 or 10-Q released May 2, 2020, and what it tells us about investing in these uncertain times.Berkshire Class A shares were down around 19% YTD as of Friday afternoon May 1, 2020, off 16% over the past 12 months. The S&P 500 is down 3% over the same period.The Berkshire Hathaway 2020 Annual Meeting goes live on the internet this afternoon. This video gives a preview of some of the topics likely to be discussed.Buffett recently called oil volatility and the panic hitting markets a “big one-two punch.”The COVID-19 pandemic will likely be the largest event in insurance-industry history because it affects both sides of the balance sheet. How will this affect Berkshire Hathaway?Auto insurers, such as Berkshire’s Geico, have returned some premiums to consumers as driving decreases, which could translate into fewer accidents. The industry may also see potential claims from business interruptions, canceled events, and workers’ compensation claims.The COVID-19 lockdown has not been kind to value portfolios, value stocks today are highly economically sensitive and levered. By contrast, growth stocks had limited leverage coming into this crisis and software-based business models better suited to the economy effectively closing.Buffett highlighted that many of the biggest tech stocks in the S&P don’t really require capital.Value often performs best coming out of a recession, and for that reason everyone wants to know when will Buffett start deploying Berkshire's 128 billion dollar cash position.Charlie Munger told The Wall Street Journal last month that Berkshire would likely close some of its smaller holdings as a result of the pandemic but didn’t specify which specific businesses would be affected. Investors are eager to find out.Berkshire sold off sizeable stakes in Delta Air Lines and Southwest Airlines as the coronavirus battered the travel industry.Buffett has stated that he constantly seeks to buy businesses that meet three criteria. 1. First, they must earn good returns on the net tangible capital required in their operation.2. Second, they must be run by able and honest managers. 3. Finally, they must be available at a sensible price.When Warren Buffett, the Oracle of Omaha speaks, investors from around the world listen. If Warren Buffett has any words of comfort or warning for stock-market investors, they will hear them later today.The Berkshire Hathaway Annual Meeting which last year drew over 40,000 attendees will be streamed live online at 3PM central time.Buy Patrick's Book Here: https://amzn.to/2J2kF3AVisit our website: http://onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePatreon Page: https://www.patreon.com/PatrickBoyleOnFinance Learn more about your ad choices. Visit megaphone.fm/adchoices Warren Buffett’s Berkshire Hathaway slumps to $50bn loss, their largest quarterly loss ever. The stock market sell-off hurt investment holdings despite an uptick in operating profit.

Warren Buffett, one of history’s greatest investors, has not been immune to the rough recent market environment. Today's video is about Buffett's quarterly report Q1 2020 or 10-Q released May 2, 2020, and what it tells us about investing in these uncertain times.

Berkshire Class A shares were down around 19% YTD as of Friday afternoon May 1, 2020, off 16% over the past 12 months. The S&P 500 is down 3% over the same period.

The Berkshire Hathaway 2020 Annual Meeting goes live on the internet this afternoon. This video gives a preview of some of the topics likely to be discussed.

Buffett recently called oil volatility and the panic hitting markets a “big one-two punch.”

The COVID-19 pandemic will likely be the largest event in insurance-industry history because it affects both sides of the balance sheet. How will this affect Berkshire Hathaway?

Auto insurers, such as Berkshire’s Geico, have returned some premiums to consumers as driving decreases, which could translate into fewer accidents. The industry may also see potential claims from business interruptions, canceled events, and workers’ compensation claims.

The COVID-19 lockdown has not been kind to value portfolios, value stocks today are highly economically sensitive and levered. By contrast, growth stocks had limited leverage coming into this crisis and software-based business models better suited to the economy effectively closing.

Buffett highlighted that many of the biggest tech stocks in the S&P don’t really require capital.

Value often performs best coming out of a recession, and for that reason everyone wants to know when will Buffett start deploying Berkshire's 128 billion dollar cash position.

Charlie Munger told The Wall Street Journal last month that Berkshire would likely close some of its smaller holdings as a result of the pandemic but didn’t specify which specific businesses would be affected. Investors are eager to find out.

Berkshire sold off sizeable stakes in Delta Air Lines and Southwest Airlines as the coronavirus battered the travel industry.

Buffett has stated that he constantly seeks to buy businesses that meet three criteria.
1. First, they must earn good returns on the net tangible capital required in their operation.
2. Second, they must be run by able and honest managers.
3. Finally, they must be available at a sensible price.

When Warren Buffett, the Oracle of Omaha speaks, investors from around the world listen. If Warren Buffett has any words of comfort or warning for stock-market investors, they will hear them later today.

The Berkshire Hathaway Annual Meeting which last year drew over 40,000 attendees will be streamed live online at 3PM central time.

Buy Patrick's Book Here: https://amzn.to/2J2kF3A
Visit our website: http://onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 1323 no SpaceX: The Biggest Money Loser in IPO History Get an exclusive 15% discount on Saily data plans! Use code BOYLE at checkout. Download Saily app or go to https://saily.com/boyleThis week, SpaceX filed the prospectus for what is expected to be the largest IPO in history. The document is extraordinary — part financial disclosure, part science fiction, and part governance structure that a corporate law professor has described as offering shareholders "no votes, no sales, and no suits." We look at the numbers, the products that don't yet exist, the AI business that SpaceX's own engineers won't use, the related-party transactions, the compensation package tied to a Mars colony the company admits is "improbable," and the one rocket that everything depends on. Everything I am about to tell you comes directly from the filing.Cape Fear Advisors Substack: https://capefearadvisors.substack.com/p/spacex-adding-it-up-the-235-billionPatrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 07:57:30 -0000 full Patrick Boyle Get an exclusive 15% discount on Saily data plans! Use code BOYLE at checkout. Download Saily app or go to https://saily.com/boyleThis week, SpaceX filed the prospectus for what is expected to be the largest IPO in history. The document is extraordinary — part financial disclosure, part science fiction, and part governance structure that a corporate law professor has described as offering shareholders "no votes, no sales, and no suits." We look at the numbers, the products that don't yet exist, the AI business that SpaceX's own engineers won't use, the related-party transactions, the compensation package tied to a Mars colony the company admits is "improbable," and the one rocket that everything depends on. Everything I am about to tell you comes directly from the filing.Cape Fear Advisors Substack: https://capefearadvisors.substack.com/p/spacex-adding-it-up-the-235-billionPatrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Get an exclusive 15% discount on Saily data plans! Use code BOYLE at checkout. Download Saily app or go to https://saily.com/boyle

This week, SpaceX filed the prospectus for what is expected to be the largest IPO in history. The document is extraordinary — part financial disclosure, part science fiction, and part governance structure that a corporate law professor has described as offering shareholders "no votes, no sales, and no suits." We look at the numbers, the products that don't yet exist, the AI business that SpaceX's own engineers won't use, the related-party transactions, the compensation package tied to a Mars colony the company admits is "improbable," and the one rocket that everything depends on. Everything I am about to tell you comes directly from the filing.

Cape Fear Advisors Substack: https://capefearadvisors.substack.com/p/spacex-adding-it-up-the-235-billion

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

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]]> 2396 no What are the Option Greeks? | Hedging Options | Risk Managing Options These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleIf you're an options investor, you may have heard about "Greeks" but you may not know exactly what they are or what they can do for you. If so, watch this series of videos where Patrick Boyle explains what these Greek letters mean and how to use them to better understand the price of an option.What can option Greeks do for you?Using the Greeks, an options investor can make more informed decisions about which options to trade, and when to trade them. Consider some of the things Greeks may help you do:Gauge the likelihood that an option you're considering will expire in the money (Delta).Estimate how much the Delta will change when the stock price changes (Gamma).Get a feel for how much value your option might lose each day as it approaches expiration (Theta).Understand how sensitive an option might be to large price swings in the underlying stock (Vega).Simulate the effect of interest rate changes on an option (Rho).What are Greeks anyway?Greeks, including Delta, Gamma, Theta, Vega and Rho, measure the different factors that affect the price of an option contract. They are calculated using a theoretical options pricing model (see How much is an option worth?).Since there are a variety of market factors that can affect the price of an option in some way, assuming all other factors remain unchanged, we can use these pricing models to calculate the Greeks and determine the impact of each factor when its value changes. For example, if we know that an option typically moves less than the underlying stock, we can use Delta to determine how much it is expected to move when the stock moves $1. If we know that an option loses value over time, we can use Theta to approximate how much value it loses each day.what is delta gamma theta vega in options Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 07:57:30 -0000 full Patrick Boyle These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleIf you're an options investor, you may have heard about "Greeks" but you may not know exactly what they are or what they can do for you. If so, watch this series of videos where Patrick Boyle explains what these Greek letters mean and how to use them to better understand the price of an option.What can option Greeks do for you?Using the Greeks, an options investor can make more informed decisions about which options to trade, and when to trade them. Consider some of the things Greeks may help you do:Gauge the likelihood that an option you're considering will expire in the money (Delta).Estimate how much the Delta will change when the stock price changes (Gamma).Get a feel for how much value your option might lose each day as it approaches expiration (Theta).Understand how sensitive an option might be to large price swings in the underlying stock (Vega).Simulate the effect of interest rate changes on an option (Rho).What are Greeks anyway?Greeks, including Delta, Gamma, Theta, Vega and Rho, measure the different factors that affect the price of an option contract. They are calculated using a theoretical options pricing model (see How much is an option worth?).Since there are a variety of market factors that can affect the price of an option in some way, assuming all other factors remain unchanged, we can use these pricing models to calculate the Greeks and determine the impact of each factor when its value changes. For example, if we know that an option typically moves less than the underlying stock, we can use Delta to determine how much it is expected to move when the stock moves $1. If we know that an option loses value over time, we can use Theta to approximate how much value it loses each day.what is delta gamma theta vega in options Learn more about your ad choices. Visit megaphone.fm/adchoices These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

If you're an options investor, you may have heard about "Greeks" but you may not know exactly what they are or what they can do for you. If so, watch this series of videos where Patrick Boyle explains what these Greek letters mean and how to use them to better understand the price of an option.

What can option Greeks do for you?
Using the Greeks, an options investor can make more informed decisions about which options to trade, and when to trade them. Consider some of the things Greeks may help you do:

Gauge the likelihood that an option you're considering will expire in the money (Delta).
Estimate how much the Delta will change when the stock price changes (Gamma).
Get a feel for how much value your option might lose each day as it approaches expiration (Theta).
Understand how sensitive an option might be to large price swings in the underlying stock (Vega).
Simulate the effect of interest rate changes on an option (Rho).
What are Greeks anyway?
Greeks, including Delta, Gamma, Theta, Vega and Rho, measure the different factors that affect the price of an option contract. They are calculated using a theoretical options pricing model (see How much is an option worth?).

Since there are a variety of market factors that can affect the price of an option in some way, assuming all other factors remain unchanged, we can use these pricing models to calculate the Greeks and determine the impact of each factor when its value changes. For example, if we know that an option typically moves less than the underlying stock, we can use Delta to determine how much it is expected to move when the stock moves $1. If we know that an option loses value over time, we can use Theta to approximate how much value it loses each day.

what is delta gamma theta vega in options

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]]> 454 no What are forward rates? What are forward rate agreements? What is an FRA? In todays video we will learn about forward interest rates and a derivative called a forward rate agreement or FRA.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat are Forward Rates?A forward rate is an interest rate implied for periods of time in the future by zero-coupon bonds. For example, the market implied yield on a three-month Treasury bill three months from now is a forward rate.If we know what the three-month zero-coupon Treasury bill rate is and what the six-month zero-coupon Treasury bill rate is, we can back out what the market is implying as the yield on a three-month Treasury bill three months from now.To calculate forward rates we just need the zero-coupon yield curve.What are Forward Rate Agreements?A forward rate agreement (FRA) is an over-the-counter agreement to borrow a fixed amount of money at a fixed interest rate at a specified future time period.Banks and large corporations can use FRAs to hedge future interest rate exposures. The buyer hedges against the risk of rising interest rates, while the seller hedges against the risk of falling interest rates. Speculators can use FRAs to make bets on future changes in interest rates.Rates in the future will usually be different from the implied rate at the time you entered into a forward-rate-agreement, giving rise to gains or losses on the agreed transaction.What is an FRA?An FRA is an abbreviated term for Forward Rate Agreement Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 07:28:45 -0000 full Patrick Boyle In todays video we will learn about forward interest rates and a derivative called a forward rate agreement or FRA.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat are Forward Rates?A forward rate is an interest rate implied for periods of time in the future by zero-coupon bonds. For example, the market implied yield on a three-month Treasury bill three months from now is a forward rate.If we know what the three-month zero-coupon Treasury bill rate is and what the six-month zero-coupon Treasury bill rate is, we can back out what the market is implying as the yield on a three-month Treasury bill three months from now.To calculate forward rates we just need the zero-coupon yield curve.What are Forward Rate Agreements?A forward rate agreement (FRA) is an over-the-counter agreement to borrow a fixed amount of money at a fixed interest rate at a specified future time period.Banks and large corporations can use FRAs to hedge future interest rate exposures. The buyer hedges against the risk of rising interest rates, while the seller hedges against the risk of falling interest rates. Speculators can use FRAs to make bets on future changes in interest rates.Rates in the future will usually be different from the implied rate at the time you entered into a forward-rate-agreement, giving rise to gains or losses on the agreed transaction.What is an FRA?An FRA is an abbreviated term for Forward Rate Agreement Learn more about your ad choices. Visit megaphone.fm/adchoices In todays video we will learn about forward interest rates and a derivative called a forward rate agreement or FRA.

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

What are Forward Rates?

A forward rate is an interest rate implied for periods of time in the future by zero-coupon bonds. For example, the market implied yield on a three-month Treasury bill three months from now is a forward rate.

If we know what the three-month zero-coupon Treasury bill rate is and what the six-month zero-coupon Treasury bill rate is, we can back out what the market is implying as the yield on a three-month Treasury bill three months from now.

To calculate forward rates we just need the zero-coupon yield curve.

What are Forward Rate Agreements?

A forward rate agreement (FRA) is an over-the-counter agreement to borrow a fixed amount of money at a fixed interest rate at a specified future time period.

Banks and large corporations can use FRAs to hedge future interest rate exposures. The buyer hedges against the risk of rising interest rates, while the seller hedges against the risk of falling interest rates. Speculators can use FRAs to make bets on future changes in interest rates.

Rates in the future will usually be different from the implied rate at the time you entered into a forward-rate-agreement, giving rise to gains or losses on the agreed transaction.

What is an FRA?
An FRA is an abbreviated term for Forward Rate Agreement

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]]> 533 no What is Put Call Parity? How does it work? Today we will learn about put call parity and how it works,These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is Put-Call ParityPut-call parity is a no arbitrage principle that specifies the relationship between the price of European put options and European call options, with the same underlying asset, strike price and expiration date. Put-call parity states that simultaneously holding a short European put and long European call of the same class will deliver the same return as holding one forward (or futures) contract on the same underlying asset, with the same expiration, and a forward price equal to the option's strike price. If the prices of the put and call options diverge so that this relationship does not hold, an arbitrage opportunity would exist, meaning that arbitrage traders would be able to earn a risk-free profit. Such opportunities are uncommon and short-lived in liquid markets.The equation expressing put-call parity is:C + PV(x) = P + Swhere:C = price of the European call optionPV(x) = the present value of the strike price (x), discounted from the value on the expiration date at the risk-free rateP = price of the European putS = spot price or the current market value of the underlying assetPut-call parity applies only to European options, which can only be exercised on the expiration date, and not American options, which can be exercised before. Watch Patrick's other videos on covered calls and protective puts to better understand this concept.Covered Call Video: https://www.youtube.com/watch?v=UlC9iM2Wh7IProtective Put Video: https://www.youtube.com/watch?v=MUs4jga-NAI&t=26sWhat is Put Call Parity? How does it work? put call parity formula Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 07:28:45 -0000 full Patrick Boyle Today we will learn about put call parity and how it works,These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is Put-Call ParityPut-call parity is a no arbitrage principle that specifies the relationship between the price of European put options and European call options, with the same underlying asset, strike price and expiration date. Put-call parity states that simultaneously holding a short European put and long European call of the same class will deliver the same return as holding one forward (or futures) contract on the same underlying asset, with the same expiration, and a forward price equal to the option's strike price. If the prices of the put and call options diverge so that this relationship does not hold, an arbitrage opportunity would exist, meaning that arbitrage traders would be able to earn a risk-free profit. Such opportunities are uncommon and short-lived in liquid markets.The equation expressing put-call parity is:C + PV(x) = P + Swhere:C = price of the European call optionPV(x) = the present value of the strike price (x), discounted from the value on the expiration date at the risk-free rateP = price of the European putS = spot price or the current market value of the underlying assetPut-call parity applies only to European options, which can only be exercised on the expiration date, and not American options, which can be exercised before. Watch Patrick's other videos on covered calls and protective puts to better understand this concept.Covered Call Video: https://www.youtube.com/watch?v=UlC9iM2Wh7IProtective Put Video: https://www.youtube.com/watch?v=MUs4jga-NAI&t=26sWhat is Put Call Parity? How does it work? put call parity formula Learn more about your ad choices. Visit megaphone.fm/adchoices Today we will learn about put call parity and how it works,

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

What is Put-Call Parity
Put-call parity is a no arbitrage principle that specifies the relationship between the price of European put options and European call options, with the same underlying asset, strike price and expiration date. Put-call parity states that simultaneously holding a short European put and long European call of the same class will deliver the same return as holding one forward (or futures) contract on the same underlying asset, with the same expiration, and a forward price equal to the option's strike price. If the prices of the put and call options diverge so that this relationship does not hold, an arbitrage opportunity would exist, meaning that arbitrage traders would be able to earn a risk-free profit. Such opportunities are uncommon and short-lived in liquid markets.

The equation expressing put-call parity is:

C + PV(x) = P + S

where:

C = price of the European call option

PV(x) = the present value of the strike price (x), discounted from the value on the expiration date at the risk-free rate

P = price of the European put

S = spot price or the current market value of the underlying asset

Put-call parity applies only to European options, which can only be exercised on the expiration date, and not American options, which can be exercised before.

Watch Patrick's other videos on covered calls and protective puts to better understand this concept.

Covered Call Video: https://www.youtube.com/watch?v=UlC9iM2Wh7I
Protective Put Video: https://www.youtube.com/watch?v=MUs4jga-NAI&t=26s
What is Put Call Parity? How does it work? put call parity formula

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 561 no Creating Neutral Portfolios - The Option Greeks These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleThe option sensitivity measures familiar to most option traders are often referred to as the Greeks: delta, gamma, vega, lambda, rho, and theta. Delta is the price sensitivity of an option with respect to changes in the price of the underlying asset. It represents a first-order sensitivity measure analogous to duration in fixed income markets. Gamma is the sensitivity of an option's delta to changes in the price of the underlying asset, and represents a second-order price sensitivity analogous to convexity in fixed income markets. Vega is the price sensitivity of an option with respect to changes in the volatility of the underlying asset. See Pricing and Analyzing Equity Derivatives or the Glossary for other definitions. The Greeks of a particular option are a function of the model used to price the option. However, given enough different options to work with, a trader can construct a portfolio with any desired values for its greeks. For example, to insulate the value of an option portfolio from small changes in the price of the underlying asset, one trader might construct an option portfolio whose delta is zero. Such a portfolio is then said to be “delta neutral.” Another trader may want to protect an option portfolio from larger changes in the price of the underlying asset, and so might construct a portfolio whose delta and gamma are both zero. Such a portfolio is both delta and gamma neutral. A third trader may want to construct a portfolio insulated from small changes in the volatility of the underlying asset in addition to delta and gamma neutrality. Such a portfolio is then delta, gamma, and vega neutral. Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 07:00:00 -0000 full Patrick Boyle These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleThe option sensitivity measures familiar to most option traders are often referred to as the Greeks: delta, gamma, vega, lambda, rho, and theta. Delta is the price sensitivity of an option with respect to changes in the price of the underlying asset. It represents a first-order sensitivity measure analogous to duration in fixed income markets. Gamma is the sensitivity of an option's delta to changes in the price of the underlying asset, and represents a second-order price sensitivity analogous to convexity in fixed income markets. Vega is the price sensitivity of an option with respect to changes in the volatility of the underlying asset. See Pricing and Analyzing Equity Derivatives or the Glossary for other definitions. The Greeks of a particular option are a function of the model used to price the option. However, given enough different options to work with, a trader can construct a portfolio with any desired values for its greeks. For example, to insulate the value of an option portfolio from small changes in the price of the underlying asset, one trader might construct an option portfolio whose delta is zero. Such a portfolio is then said to be “delta neutral.” Another trader may want to protect an option portfolio from larger changes in the price of the underlying asset, and so might construct a portfolio whose delta and gamma are both zero. Such a portfolio is both delta and gamma neutral. A third trader may want to construct a portfolio insulated from small changes in the volatility of the underlying asset in addition to delta and gamma neutrality. Such a portfolio is then delta, gamma, and vega neutral. Learn more about your ad choices. Visit megaphone.fm/adchoices These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

The option sensitivity measures familiar to most option traders are often referred to as the Greeks: delta, gamma, vega, lambda, rho, and theta. Delta is the price sensitivity of an option with respect to changes in the price of the underlying asset. It represents a first-order sensitivity measure analogous to duration in fixed income markets. Gamma is the sensitivity of an option's delta to changes in the price of the underlying asset, and represents a second-order price sensitivity analogous to convexity in fixed income markets. Vega is the price sensitivity of an option with respect to changes in the volatility of the underlying asset. See Pricing and Analyzing Equity Derivatives or the Glossary for other definitions.

The Greeks of a particular option are a function of the model used to price the option. However, given enough different options to work with, a trader can construct a portfolio with any desired values for its greeks. For example, to insulate the value of an option portfolio from small changes in the price of the underlying asset, one trader might construct an option portfolio whose delta is zero. Such a portfolio is then said to be “delta neutral.” Another trader may want to protect an option portfolio from larger changes in the price of the underlying asset, and so might construct a portfolio whose delta and gamma are both zero. Such a portfolio is both delta and gamma neutral. A third trader may want to construct a portfolio insulated from small changes in the volatility of the underlying asset in addition to delta and gamma neutrality. Such a portfolio is then delta, gamma, and vega neutral.

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]]> 485 no How Did the Metaverse Fail So Badly? Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 07:00:00 -0000 full Patrick Boyle Learn more about your ad choices. Visit megaphone.fm/adchoices

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]]> 2407 no Applied Portfolio Management - Class 1 - Risk and Return All slides are available on my Patreon page: https://www.patreon.com/PatrickBoyleOnFinanceBook Suggestions:Burton Malkiel, A Random Walk Down Wall Street (2007) https://amzn.to/2Hr2SW1Roger Lowenstein, Buffett: The Making of an American Capitalist (2008) https://amzn.to/3hUkFl6Jack Schwager, Market Wizards Series https://amzn.to/3a89diHJack Schwager, Market Sense And Nonsense (2013) https://amzn.to/3jerS0ZNassim Nicholas Taleb, Fooled By Randomness (2007) https://amzn.to/365wN08Victor Niederhoffer, Education of a Speculator (1998) https://amzn.to/2EuhMJZVictor Niederhoffer, Practical Speculation (2004) https://amzn.to/2Hr3nznDimson, E., Marsh, P., and M. Staunton, Triumph of the Optimists: 101 Years of Global Investment Returns (2002) https://amzn.to/363JWXGRoger Lowenstein, When Genius Failed (2001) https://amzn.to/364aHv7Ivan Boesky, Merger Mania (1985) https://amzn.to/3crKszQHoward Marks, The Most Important Thing (2011) https://amzn.to/30n89EXFrank Partnoy, F.I.A.S.C.O. (1999) https://amzn.to/366gGj4Michael Lewis, Liars Poker (1989) - The Big Short (2010) https://amzn.to/3mPjhE1Gregory Zuckerman, The Man Who Solved the Market (2019) https://amzn.to/2FVOZi8Patricks' Books:Statistics for Traders: https://amzn.to/3eerLA0Financial Derivatives: https://amzn.to/307ByTbCorporate Finance: https://amzn.to/3fn3rvC Visit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleRisk & Return in Finance.The higher the risk taken, the more greater the expected return should be, and conversely, the lower the risk, the more modest the expected return. In this class we learn about how traders and portfolio managers think about risk and return. We learn about indifference curves, diversification and the importance of correlation in building a portfolio. We learn about sharpe ratio, sortino ratio and beta.Often people are confused by the idea of the risk return tradeoff. They think that taking a higher risk means that you are guaranteed a higher return. Of course, if this was the case, risk would not be risky. In finance what the risk return tradeoff is referring to is the idea that an investor would only agree to take greater risk, if they believed that the positive outcomes were greater than the positive outcomes achieved for low risk investments. Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 06:31:15 -0000 full Patrick Boyle All slides are available on my Patreon page: https://www.patreon.com/PatrickBoyleOnFinanceBook Suggestions:Burton Malkiel, A Random Walk Down Wall Street (2007) https://amzn.to/2Hr2SW1Roger Lowenstein, Buffett: The Making of an American Capitalist (2008) https://amzn.to/3hUkFl6Jack Schwager, Market Wizards Series https://amzn.to/3a89diHJack Schwager, Market Sense And Nonsense (2013) https://amzn.to/3jerS0ZNassim Nicholas Taleb, Fooled By Randomness (2007) https://amzn.to/365wN08Victor Niederhoffer, Education of a Speculator (1998) https://amzn.to/2EuhMJZVictor Niederhoffer, Practical Speculation (2004) https://amzn.to/2Hr3nznDimson, E., Marsh, P., and M. Staunton, Triumph of the Optimists: 101 Years of Global Investment Returns (2002) https://amzn.to/363JWXGRoger Lowenstein, When Genius Failed (2001) https://amzn.to/364aHv7Ivan Boesky, Merger Mania (1985) https://amzn.to/3crKszQHoward Marks, The Most Important Thing (2011) https://amzn.to/30n89EXFrank Partnoy, F.I.A.S.C.O. (1999) https://amzn.to/366gGj4Michael Lewis, Liars Poker (1989) - The Big Short (2010) https://amzn.to/3mPjhE1Gregory Zuckerman, The Man Who Solved the Market (2019) https://amzn.to/2FVOZi8Patricks' Books:Statistics for Traders: https://amzn.to/3eerLA0Financial Derivatives: https://amzn.to/307ByTbCorporate Finance: https://amzn.to/3fn3rvC Visit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleRisk & Return in Finance.The higher the risk taken, the more greater the expected return should be, and conversely, the lower the risk, the more modest the expected return. In this class we learn about how traders and portfolio managers think about risk and return. We learn about indifference curves, diversification and the importance of correlation in building a portfolio. We learn about sharpe ratio, sortino ratio and beta.Often people are confused by the idea of the risk return tradeoff. They think that taking a higher risk means that you are guaranteed a higher return. Of course, if this was the case, risk would not be risky. In finance what the risk return tradeoff is referring to is the idea that an investor would only agree to take greater risk, if they believed that the positive outcomes were greater than the positive outcomes achieved for low risk investments. Learn more about your ad choices. Visit megaphone.fm/adchoices All slides are available on my Patreon page: https://www.patreon.com/PatrickBoyleOnFinance
Book Suggestions:

Burton Malkiel, A Random Walk Down Wall Street (2007) https://amzn.to/2Hr2SW1
Roger Lowenstein, Buffett: The Making of an American Capitalist (2008) https://amzn.to/3hUkFl6
Jack Schwager, Market Wizards Series https://amzn.to/3a89diH
Jack Schwager, Market Sense And Nonsense (2013) https://amzn.to/3jerS0Z
Nassim Nicholas Taleb, Fooled By Randomness (2007) https://amzn.to/365wN08
Victor Niederhoffer, Education of a Speculator (1998) https://amzn.to/2EuhMJZ
Victor Niederhoffer, Practical Speculation (2004) https://amzn.to/2Hr3nzn
Dimson, E., Marsh, P., and M. Staunton, Triumph of the Optimists: 101 Years of Global Investment Returns (2002) https://amzn.to/363JWXG
Roger Lowenstein, When Genius Failed (2001) https://amzn.to/364aHv7
Ivan Boesky, Merger Mania (1985) https://amzn.to/3crKszQ
Howard Marks, The Most Important Thing (2011) https://amzn.to/30n89EX
Frank Partnoy, F.I.A.S.C.O. (1999) https://amzn.to/366gGj4
Michael Lewis, Liars Poker (1989) - The Big Short (2010) https://amzn.to/3mPjhE1
Gregory Zuckerman, The Man Who Solved the Market (2019) https://amzn.to/2FVOZi8

Patricks' Books:
Statistics for Traders: https://amzn.to/3eerLA0
Financial Derivatives: https://amzn.to/307ByTb
Corporate Finance: https://amzn.to/3fn3rvC

Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Risk & Return in Finance.
The higher the risk taken, the more greater the expected return should be, and conversely, the lower the risk, the more modest the expected return. In this class we learn about how traders and portfolio managers think about risk and return. We learn about indifference curves, diversification and the importance of correlation in building a portfolio. We learn about sharpe ratio, sortino ratio and beta.


Often people are confused by the idea of the risk return tradeoff. They think that taking a higher risk means that you are guaranteed a higher return. Of course, if this was the case, risk would not be risky. In finance what the risk return tradeoff is referring to is the idea that an investor would only agree to take greater risk, if they believed that the positive outcomes were greater than the positive outcomes achieved for low risk investments.

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]]> 4986 no What are Variance Swaps? Financial Derivatives - Trading Volatility In todays video we learn about variance swapsThese classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is a Variance Swap?A variance swap is a financial derivative used to hedge or speculate on the magnitude of a price movement of an underlying asset. A variance swap is a forward contract with a payoff based on the realized variance of the underlying asset. Variance swaps settle in cash based on the difference between the realized variance and the variance strikeSimilar to a regular swap, one of the two parties involved in the transaction will pay an amount based upon the actual variance of price changes of the underlying asset. The other party will pay a fixed amount, called the strike, specified at the start of the contract. The strike is typically set at the start to make the net present value of the payoff zero.At the end of the contract, the net payoff to the counterparties will be the notional amount multiplied by the difference between the variance and the strike variance, settled in cash. Due to any margin requirements specified in the contract, some payments may occur during the life of the contract should the contract's value move beyond the agreed limits.The variance swap, in mathematical terms, is the arithmetic average of the squared differences from the mean value. The square root of the variance is the standard deviation.A variance swap is a pure-play on an underlying asset's volatility. Options also give an investor the possibility to speculate on an asset's volatility. But, options carry directional risk, and their prices depend on many factors. There are two main classes of users for variance swaps.Speculators use these swaps to speculate on the future level of volatility for an asset.Hedgers use variance swaps to cover short volatility positions.They are similar to volatility swaps, watch my video on those here. https://www.youtube.com/watch?v=qclLj3E5zyk Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 06:31:15 -0000 full Patrick Boyle In todays video we learn about variance swapsThese classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is a Variance Swap?A variance swap is a financial derivative used to hedge or speculate on the magnitude of a price movement of an underlying asset. A variance swap is a forward contract with a payoff based on the realized variance of the underlying asset. Variance swaps settle in cash based on the difference between the realized variance and the variance strikeSimilar to a regular swap, one of the two parties involved in the transaction will pay an amount based upon the actual variance of price changes of the underlying asset. The other party will pay a fixed amount, called the strike, specified at the start of the contract. The strike is typically set at the start to make the net present value of the payoff zero.At the end of the contract, the net payoff to the counterparties will be the notional amount multiplied by the difference between the variance and the strike variance, settled in cash. Due to any margin requirements specified in the contract, some payments may occur during the life of the contract should the contract's value move beyond the agreed limits.The variance swap, in mathematical terms, is the arithmetic average of the squared differences from the mean value. The square root of the variance is the standard deviation.A variance swap is a pure-play on an underlying asset's volatility. Options also give an investor the possibility to speculate on an asset's volatility. But, options carry directional risk, and their prices depend on many factors. There are two main classes of users for variance swaps.Speculators use these swaps to speculate on the future level of volatility for an asset.Hedgers use variance swaps to cover short volatility positions.They are similar to volatility swaps, watch my video on those here. https://www.youtube.com/watch?v=qclLj3E5zyk Learn more about your ad choices. Visit megaphone.fm/adchoices In todays video we learn about variance swaps

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

What is a Variance Swap?

A variance swap is a financial derivative used to hedge or speculate on the magnitude of a price movement of an underlying asset.

A variance swap is a forward contract with a payoff based on the realized variance of the underlying asset. Variance swaps settle in cash based on the difference between the realized variance and the variance strike

Similar to a regular swap, one of the two parties involved in the transaction will pay an amount based upon the actual variance of price changes of the underlying asset. The other party will pay a fixed amount, called the strike, specified at the start of the contract. The strike is typically set at the start to make the net present value of the payoff zero.

At the end of the contract, the net payoff to the counterparties will be the notional amount multiplied by the difference between the variance and the strike variance, settled in cash. Due to any margin requirements specified in the contract, some payments may occur during the life of the contract should the contract's value move beyond the agreed limits.

The variance swap, in mathematical terms, is the arithmetic average of the squared differences from the mean value. The square root of the variance is the standard deviation.

A variance swap is a pure-play on an underlying asset's volatility. Options also give an investor the possibility to speculate on an asset's volatility. But, options carry directional risk, and their prices depend on many factors.

There are two main classes of users for variance swaps.

Speculators use these swaps to speculate on the future level of volatility for an asset.

Hedgers use variance swaps to cover short volatility positions.

They are similar to volatility swaps, watch my video on those here. https://www.youtube.com/watch?v=qclLj3E5zyk

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 831 no Introduction to Derivatives - Futures and Forwards - Revision Class1 A revision slideshow on Futures and Forwards.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 06:02:30 -0000 full Patrick Boyle A revision slideshow on Futures and Forwards.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices A revision slideshow on Futures and Forwards.

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

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]]> 4446 no Dynamic Hedging (Part 2) Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 06:02:30 -0000 full Patrick Boyle Learn more about your ad choices. Visit megaphone.fm/adchoices

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]]> 539 no What is Backwardation and Contango in Futures Markets? What is Backwardation and Contango in Futures Markets?These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleContango and backwardation are terms often used within commodity circles. These terms refer to the shape of the futures curve of a commodity such as gold, silver, wheat or crude oil. A futures curve can be plotted on a chart of a particular contract by using an X and Y axis. The X axis contains the various contract expiration dates while the Y axis contains the corresponding futures prices. A normal futures curve will show a rising slope as the prices of futures contracts rises in time. An inverted futures curve will show a falling slope as the prices of futures contracts falls over time.A contango market simply means that the futures contracts are trading at a premium to the spot price. For example, if the price of a crude oil contract today is $100 per barrel, but the price for delivery in six months is $110 per barrel, that market would be in contango. On the other hand, if crude oil is trading at $100 per barrel for delivery right now, and the six month contract is trading at $95 per barrel, then that market would be said to be in backwardation.Contango and backwardation are curve structures seen in futures markets based on several factors. It is important to remember that the futures price eventually converges on the spot price. In other words, any gaps between the futures price and the spot price will close as contract expiration nears.The shape of the futures curve is important to commodity hedgers and speculators. Both care about whether commodity futures markets are contango markets or normal backwardation markets. In 1993, the German company Metallgesellschaft famously lost more than $1 billion dollars, mostly because management deployed a hedging system that profited from normal backwardation markets but did not anticipate a shift to contango markets. Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 05:33:45 -0000 full Patrick Boyle What is Backwardation and Contango in Futures Markets?These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleContango and backwardation are terms often used within commodity circles. These terms refer to the shape of the futures curve of a commodity such as gold, silver, wheat or crude oil. A futures curve can be plotted on a chart of a particular contract by using an X and Y axis. The X axis contains the various contract expiration dates while the Y axis contains the corresponding futures prices. A normal futures curve will show a rising slope as the prices of futures contracts rises in time. An inverted futures curve will show a falling slope as the prices of futures contracts falls over time.A contango market simply means that the futures contracts are trading at a premium to the spot price. For example, if the price of a crude oil contract today is $100 per barrel, but the price for delivery in six months is $110 per barrel, that market would be in contango. On the other hand, if crude oil is trading at $100 per barrel for delivery right now, and the six month contract is trading at $95 per barrel, then that market would be said to be in backwardation.Contango and backwardation are curve structures seen in futures markets based on several factors. It is important to remember that the futures price eventually converges on the spot price. In other words, any gaps between the futures price and the spot price will close as contract expiration nears.The shape of the futures curve is important to commodity hedgers and speculators. Both care about whether commodity futures markets are contango markets or normal backwardation markets. In 1993, the German company Metallgesellschaft famously lost more than $1 billion dollars, mostly because management deployed a hedging system that profited from normal backwardation markets but did not anticipate a shift to contango markets. Learn more about your ad choices. Visit megaphone.fm/adchoices What is Backwardation and Contango in Futures Markets?

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

Contango and backwardation are terms often used within commodity circles. These terms refer to the shape of the futures curve of a commodity such as gold, silver, wheat or crude oil. A futures curve can be plotted on a chart of a particular contract by using an X and Y axis. The X axis contains the various contract expiration dates while the Y axis contains the corresponding futures prices. A normal futures curve will show a rising slope as the prices of futures contracts rises in time. An inverted futures curve will show a falling slope as the prices of futures contracts falls over time.

A contango market simply means that the futures contracts are trading at a premium to the spot price. For example, if the price of a crude oil contract today is $100 per barrel, but the price for delivery in six months is $110 per barrel, that market would be in contango. On the other hand, if crude oil is trading at $100 per barrel for delivery right now, and the six month contract is trading at $95 per barrel, then that market would be said to be in backwardation.

Contango and backwardation are curve structures seen in futures markets based on several factors. It is important to remember that the futures price eventually converges on the spot price. In other words, any gaps between the futures price and the spot price will close as contract expiration nears.

The shape of the futures curve is important to commodity hedgers and speculators. Both care about whether commodity futures markets are contango markets or normal backwardation markets. In 1993, the German company Metallgesellschaft famously lost more than $1 billion dollars, mostly because management deployed a hedging system that profited from normal backwardation markets but did not anticipate a shift to contango markets.

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]]> 494 no Trump’s $2B Chip Deal: Nvidia’s Big Payout Explained Go to https://ground.news/pb to get up to 40% off unlimited access to stay fully informed. Subscribe through my link this month for 40% off unlimited access.In this deep dive, we unpack Donald Trump’s controversial deal with Nvidia and AMD — a 15% revenue-sharing arrangement that allows U.S. AI chips to be exported to China. Is this a clever geopolitical strategy or a dangerous precedent that monetizes national security?We explore:How the deal was brokered and what it means for U.S. trade policyLegal and constitutional concerns surrounding export controlsStrategic risks of enabling China’s AI developmentComparisons to China’s rare earth leverage and Xi Jinping’s CEO controlThe broader pattern of Trump’s executive interference in private enterpriseFeaturing analysis on the H20 chip, inference bottlenecks, golden shares, and the future of American capitalism.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 05:33:45 -0000 full Patrick Boyle Go to https://ground.news/pb to get up to 40% off unlimited access to stay fully informed. Subscribe through my link this month for 40% off unlimited access.In this deep dive, we unpack Donald Trump’s controversial deal with Nvidia and AMD — a 15% revenue-sharing arrangement that allows U.S. AI chips to be exported to China. Is this a clever geopolitical strategy or a dangerous precedent that monetizes national security?We explore:How the deal was brokered and what it means for U.S. trade policyLegal and constitutional concerns surrounding export controlsStrategic risks of enabling China’s AI developmentComparisons to China’s rare earth leverage and Xi Jinping’s CEO controlThe broader pattern of Trump’s executive interference in private enterpriseFeaturing analysis on the H20 chip, inference bottlenecks, golden shares, and the future of American capitalism.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Go to https://ground.news/pb to get up to 40% off unlimited access to stay fully informed. Subscribe through my link this month for 40% off unlimited access.

In this deep dive, we unpack Donald Trump’s controversial deal with Nvidia and AMD — a 15% revenue-sharing arrangement that allows U.S. AI chips to be exported to China. Is this a clever geopolitical strategy or a dangerous precedent that monetizes national security?
We explore:
How the deal was brokered and what it means for U.S. trade policy
Legal and constitutional concerns surrounding export controls
Strategic risks of enabling China’s AI development
Comparisons to China’s rare earth leverage and Xi Jinping’s CEO control
The broader pattern of Trump’s executive interference in private enterprise
Featuring analysis on the H20 chip, inference bottlenecks, golden shares, and the future of American capitalism.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
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]]> 2274 no What is a Protective Put? Options Trading Strategies These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is a Protective Put? A protective put is a trading or investment strategy that investors can use to guard against losses in a stock or other asset. The put option acts like an insurance policy—it costs money, which reduces the investor's potential gains from owning the security but also reduces the risk of losing money if the security declines in value. A protective put is also known as a married put. Breaking Down the Protective Put Protective puts involve being long a stock and purchasing put options for that stock with a strike price that is near the underlying stock's current price or slightly out of the money. A protective put is typically used when an investor is still bullish on a stock but wishes to hedge against potential losses and uncertainty.Profit and Loss The maximum profit of a protective put is theoretically unlimited as the strategy involves being long on the underlying stock. If the stock keeps rising, the long stock position benefits and the bought put option isn't needed.The maximum loss is limited to the purchase price of the underlying stock less the strike price of the put option and the premium paid. The strike price of the put option acts as a barrier where losses in the underlying stock stop. The ideal situation in a protective put is for the stock price to increase, as the investor would benefit from the long stock position. In this case, the put option will expire worthless, but the stock will have increased in value.Take a look at my other two videos in this series, one on covered calls and one on put call parity where we learn the relationship between a protective put and being long a call option.Covered Call Video: https://www.youtube.com/watch?v=UlC9iM2Wh7IPut Call Parity Video: https://www.youtube.com/watch?v=LPrlfElGZJ0&t=0s Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 05:05:00 -0000 full Patrick Boyle These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is a Protective Put? A protective put is a trading or investment strategy that investors can use to guard against losses in a stock or other asset. The put option acts like an insurance policy—it costs money, which reduces the investor's potential gains from owning the security but also reduces the risk of losing money if the security declines in value. A protective put is also known as a married put. Breaking Down the Protective Put Protective puts involve being long a stock and purchasing put options for that stock with a strike price that is near the underlying stock's current price or slightly out of the money. A protective put is typically used when an investor is still bullish on a stock but wishes to hedge against potential losses and uncertainty.Profit and Loss The maximum profit of a protective put is theoretically unlimited as the strategy involves being long on the underlying stock. If the stock keeps rising, the long stock position benefits and the bought put option isn't needed.The maximum loss is limited to the purchase price of the underlying stock less the strike price of the put option and the premium paid. The strike price of the put option acts as a barrier where losses in the underlying stock stop. The ideal situation in a protective put is for the stock price to increase, as the investor would benefit from the long stock position. In this case, the put option will expire worthless, but the stock will have increased in value.Take a look at my other two videos in this series, one on covered calls and one on put call parity where we learn the relationship between a protective put and being long a call option.Covered Call Video: https://www.youtube.com/watch?v=UlC9iM2Wh7IPut Call Parity Video: https://www.youtube.com/watch?v=LPrlfElGZJ0&t=0s Learn more about your ad choices. Visit megaphone.fm/adchoices These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

What is a Protective Put?
A protective put is a trading or investment strategy that investors can use to guard against losses in a stock or other asset. The put option acts like an insurance policy—it costs money, which reduces the investor's potential gains from owning the security but also reduces the risk of losing money if the security declines in value. A protective put is also known as a married put.

Breaking Down the Protective Put
Protective puts involve being long a stock and purchasing put options for that stock with a strike price that is near the underlying stock's current price or slightly out of the money. A protective put is typically used when an investor is still bullish on a stock but wishes to hedge against potential losses and uncertainty.


Profit and Loss
The maximum profit of a protective put is theoretically unlimited as the strategy involves being long on the underlying stock. If the stock keeps rising, the long stock position benefits and the bought put option isn't needed.

The maximum loss is limited to the purchase price of the underlying stock less the strike price of the put option and the premium paid. The strike price of the put option acts as a barrier where losses in the underlying stock stop. The ideal situation in a protective put is for the stock price to increase, as the investor would benefit from the long stock position. In this case, the put option will expire worthless, but the stock will have increased in value.

Take a look at my other two videos in this series, one on covered calls and one on put call parity where we learn the relationship between a protective put and being long a call option.

Covered Call Video: https://www.youtube.com/watch?v=UlC9iM2Wh7I
Put Call Parity Video: https://www.youtube.com/watch?v=LPrlfElGZJ0&t=0s

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 442 no Time Varying Volatility and GARCH in Risk Management These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleIn Todays video let's learn about time varying volatility and GARCH in risk managementFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleWhat Is Time-Varying Volatility? Time-varying volatility refers to the changes in market volatility over different time periods. Investors may choose to study or consider volatility of an underlying security during various time periods. The use of time-varied volatility measures can influence the expectations of investments.How Time-Varying Volatility Works Time-varying volatility can be studied in any time-frame. Generally, volatility analysis requires mathematical modeling to generate volatility levels as one measure of the risk of an underlying security. This type of modeling generates historical volatility statistics.What is the GARCH Process? The generalized autoregressive conditional heteroskedasticity (GARCH) process is an econometric term developed in 1982 by Robert F. Engle, an economist and 2003 winner of the Nobel Memorial Prize for Economics, to describe an approach to estimate volatility in financial markets. There are several forms of GARCH modeling. The GARCH process is often preferred by financial modeling professionals because it provides a more real-world context than other forms when trying to predict the prices and rates of financial instruments.Heteroskedasticity describes the irregular pattern of variation of an error term, or variable, in a statistical model. Essentially, where there is heteroskedasticity, observations do not conform to a linear pattern. Instead, they tend to cluster. The result is that the conclusions and predictive value one can draw from the model will not be reliable. GARCH is a statistical model that can be used to analyze a number of different types of financial data, for instance, macroeconomic data. Financial institutions often use this model to estimate the volatility of returns for stocks, bonds and market indices. They use the resulting information to help determine pricing and judge which assets will potentially provide higher returns, as well as to forecast the returns of current investments to help in their asset allocation, hedging, risk management and portfolio optimization decisions. Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 05:05:00 -0000 full Patrick Boyle These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleIn Todays video let's learn about time varying volatility and GARCH in risk managementFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleWhat Is Time-Varying Volatility? Time-varying volatility refers to the changes in market volatility over different time periods. Investors may choose to study or consider volatility of an underlying security during various time periods. The use of time-varied volatility measures can influence the expectations of investments.How Time-Varying Volatility Works Time-varying volatility can be studied in any time-frame. Generally, volatility analysis requires mathematical modeling to generate volatility levels as one measure of the risk of an underlying security. This type of modeling generates historical volatility statistics.What is the GARCH Process? The generalized autoregressive conditional heteroskedasticity (GARCH) process is an econometric term developed in 1982 by Robert F. Engle, an economist and 2003 winner of the Nobel Memorial Prize for Economics, to describe an approach to estimate volatility in financial markets. There are several forms of GARCH modeling. The GARCH process is often preferred by financial modeling professionals because it provides a more real-world context than other forms when trying to predict the prices and rates of financial instruments.Heteroskedasticity describes the irregular pattern of variation of an error term, or variable, in a statistical model. Essentially, where there is heteroskedasticity, observations do not conform to a linear pattern. Instead, they tend to cluster. The result is that the conclusions and predictive value one can draw from the model will not be reliable. GARCH is a statistical model that can be used to analyze a number of different types of financial data, for instance, macroeconomic data. Financial institutions often use this model to estimate the volatility of returns for stocks, bonds and market indices. They use the resulting information to help determine pricing and judge which assets will potentially provide higher returns, as well as to forecast the returns of current investments to help in their asset allocation, hedging, risk management and portfolio optimization decisions. Learn more about your ad choices. Visit megaphone.fm/adchoices These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

In Todays video let's learn about time varying volatility and GARCH in risk management

Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

What Is Time-Varying Volatility?

Time-varying volatility refers to the changes in market volatility over different time periods. Investors may choose to study or consider volatility of an underlying security during various time periods. The use of time-varied volatility measures can influence the expectations of investments.

How Time-Varying Volatility Works
Time-varying volatility can be studied in any time-frame. Generally, volatility analysis requires mathematical modeling to generate volatility levels as one measure of the risk of an underlying security. This type of modeling generates historical volatility statistics.

What is the GARCH Process?

The generalized autoregressive conditional heteroskedasticity (GARCH) process is an econometric term developed in 1982 by Robert F. Engle, an economist and 2003 winner of the Nobel Memorial Prize for Economics, to describe an approach to estimate volatility in financial markets. There are several forms of GARCH modeling. The GARCH process is often preferred by financial modeling professionals because it provides a more real-world context than other forms when trying to predict the prices and rates of financial instruments.

Heteroskedasticity describes the irregular pattern of variation of an error term, or variable, in a statistical model. Essentially, where there is heteroskedasticity, observations do not conform to a linear pattern. Instead, they tend to cluster. The result is that the conclusions and predictive value one can draw from the model will not be reliable. GARCH is a statistical model that can be used to analyze a number of different types of financial data, for instance, macroeconomic data. Financial institutions often use this model to estimate the volatility of returns for stocks, bonds and market indices. They use the resulting information to help determine pricing and judge which assets will potentially provide higher returns, as well as to forecast the returns of current investments to help in their asset allocation, hedging, risk management and portfolio optimization decisions.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 577 no Crude oil prices are negative. What does this mean? Buy The Book Here: https://amzn.to/2J2kF3AVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleA follow up video explaining how the USO ETF works https://youtu.be/BIqIjbHeV-gVideo on Contango & Backwardation: https://youtu.be/0QVFMwq2UusWhat are Futures: https://youtu.be/zlIts3ddX00Patreon Page: https://www.patreon.com/PatrickBoyleOnFinanceTodays video explains what it means that oil futures fell to a negative price today.U.S. crude oil prices had their worst day on record today, with crude storage facilities filling rapidly as the coronavirus pandemic continues to crush demand.A futures contract for U.S. crude prices dropped more than 100% and turned negative for the first time in history on Monday, showing just how much demand has collapsed due to the coronavirus pandemic.This collapse into negative territory is not reflective of the true reality in the oil market. The price of the May oil futures contract, which expires Tuesday, detached from later month futures contracts, which continued to trade above $20 per barrel.West Texas Intermediate crude for May delivery fell more than 100% to settle at negative $37.63 per barrel, meaning producers would pay traders to take the oil off their hands.This negative price has never happened before for an oil futures contract. Futures contracts trade by the month. The June WTI contract, which expires on May 19, fell about 18% to settle at $20.43 per barrel. This contract, which was more actively traded, is a better reflection of the reality in the oil market. The July contract was roughly 11% lower at $26.18 per barrel. Meanwhile, international benchmark Brent crude stood at $26.41 on Monday, around 6% lower for the session.This comes amid concern that the volume of oil held in U.S. storage is rising sharply, with the coronavirus crisis compounding the problem by dramatically reducing consumption.The current forward crude oil curves for Brent and WTI are now in what the financial press is calling Super-Contango. The contango is very front-loaded,A contango market implies oil traders believe crude prices will rally in the future, encouraging them to store oil now and to sell at a later date. Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 04:36:15 -0000 full Patrick Boyle Buy The Book Here: https://amzn.to/2J2kF3AVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleA follow up video explaining how the USO ETF works https://youtu.be/BIqIjbHeV-gVideo on Contango & Backwardation: https://youtu.be/0QVFMwq2UusWhat are Futures: https://youtu.be/zlIts3ddX00Patreon Page: https://www.patreon.com/PatrickBoyleOnFinanceTodays video explains what it means that oil futures fell to a negative price today.U.S. crude oil prices had their worst day on record today, with crude storage facilities filling rapidly as the coronavirus pandemic continues to crush demand.A futures contract for U.S. crude prices dropped more than 100% and turned negative for the first time in history on Monday, showing just how much demand has collapsed due to the coronavirus pandemic.This collapse into negative territory is not reflective of the true reality in the oil market. The price of the May oil futures contract, which expires Tuesday, detached from later month futures contracts, which continued to trade above $20 per barrel.West Texas Intermediate crude for May delivery fell more than 100% to settle at negative $37.63 per barrel, meaning producers would pay traders to take the oil off their hands.This negative price has never happened before for an oil futures contract. Futures contracts trade by the month. The June WTI contract, which expires on May 19, fell about 18% to settle at $20.43 per barrel. This contract, which was more actively traded, is a better reflection of the reality in the oil market. The July contract was roughly 11% lower at $26.18 per barrel. Meanwhile, international benchmark Brent crude stood at $26.41 on Monday, around 6% lower for the session.This comes amid concern that the volume of oil held in U.S. storage is rising sharply, with the coronavirus crisis compounding the problem by dramatically reducing consumption.The current forward crude oil curves for Brent and WTI are now in what the financial press is calling Super-Contango. The contango is very front-loaded,A contango market implies oil traders believe crude prices will rally in the future, encouraging them to store oil now and to sell at a later date. Learn more about your ad choices. Visit megaphone.fm/adchoices Buy The Book Here: https://amzn.to/2J2kF3A
Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

A follow up video explaining how the USO ETF works https://youtu.be/BIqIjbHeV-g
Video on Contango & Backwardation: https://youtu.be/0QVFMwq2Uus
What are Futures: https://youtu.be/zlIts3ddX00

Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance

Todays video explains what it means that oil futures fell to a negative price today.

U.S. crude oil prices had their worst day on record today, with crude storage facilities filling rapidly as the coronavirus pandemic continues to crush demand.

A futures contract for U.S. crude prices dropped more than 100% and turned negative for the first time in history on Monday, showing just how much demand has collapsed due to the coronavirus pandemic.

This collapse into negative territory is not reflective of the true reality in the oil market. The price of the May oil futures contract, which expires Tuesday, detached from later month futures contracts, which continued to trade above $20 per barrel.

West Texas Intermediate crude for May delivery fell more than 100% to settle at negative $37.63 per barrel, meaning producers would pay traders to take the oil off their hands.

This negative price has never happened before for an oil futures contract. Futures contracts trade by the month. The June WTI contract, which expires on May 19, fell about 18% to settle at $20.43 per barrel. This contract, which was more actively traded, is a better reflection of the reality in the oil market. The July contract was roughly 11% lower at $26.18 per barrel.

Meanwhile, international benchmark Brent crude stood at $26.41 on Monday, around 6% lower for the session.

This comes amid concern that the volume of oil held in U.S. storage is rising sharply, with the coronavirus crisis compounding the problem by dramatically reducing consumption.

The current forward crude oil curves for Brent and WTI are now in what the financial press is calling Super-Contango. The contango is very front-loaded,

A contango market implies oil traders believe crude prices will rally in the future, encouraging them to store oil now and to sell at a later date.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 1168 no Why the EV Revolution Just Stalled 🔒 Get 20% off DeleteMe by going to https://joindeleteme.com/BOYLE and use code BOYLE to protect your privacy! 🙌🏻Three years ago, the global auto industry was gripped by a collective hallucination. CEOs promised us that the internal combustion engine would be dead by 2035 and that legacy automakers were just one battery factory away from a trillion-dollar valuation.That narrative has now collided with economic reality.In this video, we analyze the collapse of the "inevitability" narrative. We look at why Ford has been forced to take a staggering $19.5 billion write-down, why the European Union is quietly dismantling its own petrol ban, and why—despite billions in subsidies—automakers are still losing $6,000 on every electric vehicle they sell.We examine how the industry confused a political project with consumer demand, leading to a market where the cars are too expensive for the middle class and too unprofitable for the manufacturers.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 04:36:15 -0000 full Patrick Boyle 🔒 Get 20% off DeleteMe by going to https://joindeleteme.com/BOYLE and use code BOYLE to protect your privacy! 🙌🏻Three years ago, the global auto industry was gripped by a collective hallucination. CEOs promised us that the internal combustion engine would be dead by 2035 and that legacy automakers were just one battery factory away from a trillion-dollar valuation.That narrative has now collided with economic reality.In this video, we analyze the collapse of the "inevitability" narrative. We look at why Ford has been forced to take a staggering $19.5 billion write-down, why the European Union is quietly dismantling its own petrol ban, and why—despite billions in subsidies—automakers are still losing $6,000 on every electric vehicle they sell.We examine how the industry confused a political project with consumer demand, leading to a market where the cars are too expensive for the middle class and too unprofitable for the manufacturers.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices 🔒 Get 20% off DeleteMe by going to https://joindeleteme.com/BOYLE and use code BOYLE to protect your privacy! 🙌🏻

Three years ago, the global auto industry was gripped by a collective hallucination. CEOs promised us that the internal combustion engine would be dead by 2035 and that legacy automakers were just one battery factory away from a trillion-dollar valuation.

That narrative has now collided with economic reality.

In this video, we analyze the collapse of the "inevitability" narrative. We look at why Ford has been forced to take a staggering $19.5 billion write-down, why the European Union is quietly dismantling its own petrol ban, and why—despite billions in subsidies—automakers are still losing $6,000 on every electric vehicle they sell.

We examine how the industry confused a political project with consumer demand, leading to a market where the cars are too expensive for the middle class and too unprofitable for the manufacturers.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2285 no What Caused The Financial Crisis of 2008? In todays video we will discuss the Credit Crunch, and the role played by credit derivatives and securitization.Buy My Book Here: https://amzn.to/2wDMInhThe Big Short https://amzn.to/2JcyAnxSoros Book https://amzn.to/2JdEqFfFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleCredit Derivatives and the Financial Crisis of 2007 -2008What Caused the Financial Crisis of 2008?Easy availability of credit in the United States, fueled by low interest rates and reduced credit monitoring by financial institutions, led to a housing boom which facilitated debt-financed consumer spending. The existence of credit derivatives and securitization allowed financial institutions to make larger volumes of riskier loans than had been made in the past and consumers assumed an unprecedented debt load.Between 1998 and 2006, the price of the typical American house increased by 124%. Between 1981 and 2001, the national median home price ranged from 2.9 to 3.1 times median household income. This rose to 4.6 times median household income in 2006. When home prices declined in the latter half of 2007 and the secondary mortgage market collapsed, a global financial crisis was triggered. Credit derivatives were blamed by many for bringing about this crisis, or for intensifying it. Credit ratings agencies are widely believed to have failed the markets in their calculations of credit risks on credit derivative products in the lead up to the financial crisis of 2007-2008. They relied on models that were given to them by the credit derivative issuers. The fact that they are paid by the security issuer, rather than the buyer, brought their impartiality into question. There is a structural conflict in this market whereby investors are the beneficiaries or ultimate end users of credit ratings calculations, yet the party paying for the ratings themselves is the issuer. On the back of the financial crisis, politicians and regulators globally are pressuring originators to resume the former practice of maintaining at least some of the credit risks on the instruments they originate on their own balance sheets. Politicians face a trade-off of hoping to incentivize high consumer spending and home-ownership rates to boost GDP and achieve social goals associated with home-ownership while seeking to avoid the negative outcomes from widespread over-indebtedness from lax credit standards and real estate bubbles. Stronger credit controls stabilize an economy but reduce home values, decrease homeownership levels, and reduce an economy’s GDP growth. Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 04:07:30 -0000 full Patrick Boyle In todays video we will discuss the Credit Crunch, and the role played by credit derivatives and securitization.Buy My Book Here: https://amzn.to/2wDMInhThe Big Short https://amzn.to/2JcyAnxSoros Book https://amzn.to/2JdEqFfFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleCredit Derivatives and the Financial Crisis of 2007 -2008What Caused the Financial Crisis of 2008?Easy availability of credit in the United States, fueled by low interest rates and reduced credit monitoring by financial institutions, led to a housing boom which facilitated debt-financed consumer spending. The existence of credit derivatives and securitization allowed financial institutions to make larger volumes of riskier loans than had been made in the past and consumers assumed an unprecedented debt load.Between 1998 and 2006, the price of the typical American house increased by 124%. Between 1981 and 2001, the national median home price ranged from 2.9 to 3.1 times median household income. This rose to 4.6 times median household income in 2006. When home prices declined in the latter half of 2007 and the secondary mortgage market collapsed, a global financial crisis was triggered. Credit derivatives were blamed by many for bringing about this crisis, or for intensifying it. Credit ratings agencies are widely believed to have failed the markets in their calculations of credit risks on credit derivative products in the lead up to the financial crisis of 2007-2008. They relied on models that were given to them by the credit derivative issuers. The fact that they are paid by the security issuer, rather than the buyer, brought their impartiality into question. There is a structural conflict in this market whereby investors are the beneficiaries or ultimate end users of credit ratings calculations, yet the party paying for the ratings themselves is the issuer. On the back of the financial crisis, politicians and regulators globally are pressuring originators to resume the former practice of maintaining at least some of the credit risks on the instruments they originate on their own balance sheets. Politicians face a trade-off of hoping to incentivize high consumer spending and home-ownership rates to boost GDP and achieve social goals associated with home-ownership while seeking to avoid the negative outcomes from widespread over-indebtedness from lax credit standards and real estate bubbles. Stronger credit controls stabilize an economy but reduce home values, decrease homeownership levels, and reduce an economy’s GDP growth. Learn more about your ad choices. Visit megaphone.fm/adchoices In todays video we will discuss the Credit Crunch, and the role played by credit derivatives and securitization.

Buy My Book Here: https://amzn.to/2wDMInh
The Big Short https://amzn.to/2JcyAnx
Soros Book https://amzn.to/2JdEqFf
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Credit Derivatives and the Financial Crisis of 2007 -2008

What Caused the Financial Crisis of 2008?
Easy availability of credit in the United States, fueled by low interest rates and reduced credit monitoring by financial institutions, led to a housing boom which facilitated debt-financed consumer spending. The existence of credit derivatives and securitization allowed financial institutions to make larger volumes of riskier loans than had been made in the past and consumers assumed an unprecedented debt load.
Between 1998 and 2006, the price of the typical American house increased by 124%. Between 1981 and 2001, the national median home price ranged from 2.9 to 3.1 times median household income. This rose to 4.6 times median household income in 2006.

When home prices declined in the latter half of 2007 and the secondary mortgage market collapsed, a global financial crisis was triggered. Credit derivatives were blamed by many for bringing about this crisis, or for intensifying it.

Credit ratings agencies are widely believed to have failed the markets in their calculations of credit risks on credit derivative products in the lead up to the financial crisis of 2007-2008. They relied on models that were given to them by the credit derivative issuers. The fact that they are paid by the security issuer, rather than the buyer, brought their impartiality into question. There is a structural conflict in this market whereby investors are the beneficiaries or ultimate end users of credit ratings calculations, yet the party paying for the ratings themselves is the issuer.

On the back of the financial crisis, politicians and regulators globally are pressuring originators to resume the former practice of maintaining at least some of the credit risks on the instruments they originate on their own balance sheets. Politicians face a trade-off of hoping to incentivize high consumer spending and home-ownership rates to boost GDP and achieve social goals associated with home-ownership while seeking to avoid the negative outcomes from widespread over-indebtedness from lax credit standards and real estate bubbles. Stronger credit controls stabilize an economy but reduce home values, decrease homeownership levels, and reduce an economy’s GDP growth.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2199 no Exercising Options - How and why do you exercise an options contract? Put Options and Call options These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleExercising OptionsCalls and put options give the owner the right to buy or sell a stock at a certain price by a certain date. When the owner of that call or put option has an option that is "in-the-money" and decides to buy or sell the stock, it is said that they are "exercising" their option. However, just because an option is "in-the-money" it doesn't mean that it is always in the best interest of the option holder to exercise it. Most of the time the option owner is better off to just sell the option at the current market price. This is because the option price is usually higher than the "intrinsic value", or the amount the option is actually "in-the-money." At expiration date, it usually makes sense to exercise the option.When to Exercise a Call OptionIf you own a call option and the stock price is HIGHER than the strike price at expiration, then it makes sense for you to exercise your call. This way you can buy the stock at a lower price and immediately sell it in the market at the higher price.When to Exercise a Put OptionIf you own a put option and the stock price is LOWER than the strike price at expiration, then it makes sense for you to exercise your put. This way you can sell the stock at a higher price and immediately buy it back at the lower price.I will do another video shortly on when it is optimal to early exercise options.Trading options. Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 04:07:30 -0000 full Patrick Boyle These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleExercising OptionsCalls and put options give the owner the right to buy or sell a stock at a certain price by a certain date. When the owner of that call or put option has an option that is "in-the-money" and decides to buy or sell the stock, it is said that they are "exercising" their option. However, just because an option is "in-the-money" it doesn't mean that it is always in the best interest of the option holder to exercise it. Most of the time the option owner is better off to just sell the option at the current market price. This is because the option price is usually higher than the "intrinsic value", or the amount the option is actually "in-the-money." At expiration date, it usually makes sense to exercise the option.When to Exercise a Call OptionIf you own a call option and the stock price is HIGHER than the strike price at expiration, then it makes sense for you to exercise your call. This way you can buy the stock at a lower price and immediately sell it in the market at the higher price.When to Exercise a Put OptionIf you own a put option and the stock price is LOWER than the strike price at expiration, then it makes sense for you to exercise your put. This way you can sell the stock at a higher price and immediately buy it back at the lower price.I will do another video shortly on when it is optimal to early exercise options.Trading options. Learn more about your ad choices. Visit megaphone.fm/adchoices These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

Exercising Options
Calls and put options give the owner the right to buy or sell a stock at a certain price by a certain date. When the owner of that call or put option has an option that is "in-the-money" and decides to buy or sell the stock, it is said that they are "exercising" their option. However, just because an option is "in-the-money" it doesn't mean that it is always in the best interest of the option holder to exercise it. Most of the time the option owner is better off to just sell the option at the current market price. This is because the option price is usually higher than the "intrinsic value", or the amount the option is actually "in-the-money." At expiration date, it usually makes sense to exercise the option.
When to Exercise a Call Option
If you own a call option and the stock price is HIGHER than the strike price at expiration, then it makes sense for you to exercise your call. This way you can buy the stock at a lower price and immediately sell it in the market at the higher price.
When to Exercise a Put Option
If you own a put option and the stock price is LOWER than the strike price at expiration, then it makes sense for you to exercise your put. This way you can sell the stock at a higher price and immediately buy it back at the lower price.

I will do another video shortly on when it is optimal to early exercise options.

Trading options.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 484 no How High Are Private Equity Returns? FlexiSpot’s Fall Sale is here, up to 50% OFF! Don’t miss your last chance to save big this season! Use my exclusive code "YTE7P50” to get an extra $50 off on E7 pro, E7 plus, and E7L. FlexiSpot also have ""100% Free Orders"" on Sep 29th, 9:00 PM PST!!! FlexiSpot E7L Standing Desk:https://bit.ly/3Zvw58p (US)https://bit.ly/3BeQa8S (CA)In a recent CNBC interview Tony Robbins extolled the virtues of investing in private equity, arguing that private equity provided high returns – with low risk. Is he right? Should everyone invest in Private Equity?Here is a link to the full CNBC video: https://www.youtube.com/watch?v=DWZ67Cx1zm8Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleFurther Reading:An Inconvenient Fact: Private Equity Returns & The Billionaire Factory: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3623820A Bottom-Up Approach to the Risk-Adjusted Performance of the Buyout Fund Market: https://www.tandfonline.com/doi/pdf/10.2469/faj.v72.n4.1#:Cliff Asness – Volatility Laundering: https://www.institutionalinvestor.com/article/2bstqfcskz9o72ospzlds/opinion/why-does-private-equity-get-to-play-make-believe-with-pricesMark Anson Paper: https://www.jstor.org/stable/43503783Aswath Damodaran Slides: https://pages.stern.nyu.edu/~adamodar/pdfiles/eqnotes/privateequity.pdfMSCI Leverage in Private Equity: https://www.msci.com/www/blog-posts/leverage-in-private-equity-what/04942552461#:~:text=Leverage%20can%20be%20a%20key,improvements%20rather%20than%20financial%20engineering.Visit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join*For the FlexiSpot free orders promotion. Customers need to pay upfront for the products - and the first 10 orders after 9PM PST on September 29th will receive a reimbursement of up to $1000 (sorted by order time). If the customer spends more than $1000, the portion of the order amount exceeding $1000 will be excluded from the free order refund. Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 03:38:45 -0000 full Patrick Boyle FlexiSpot’s Fall Sale is here, up to 50% OFF! Don’t miss your last chance to save big this season! Use my exclusive code "YTE7P50” to get an extra $50 off on E7 pro, E7 plus, and E7L. FlexiSpot also have ""100% Free Orders"" on Sep 29th, 9:00 PM PST!!! FlexiSpot E7L Standing Desk:https://bit.ly/3Zvw58p (US)https://bit.ly/3BeQa8S (CA)In a recent CNBC interview Tony Robbins extolled the virtues of investing in private equity, arguing that private equity provided high returns – with low risk. Is he right? Should everyone invest in Private Equity?Here is a link to the full CNBC video: https://www.youtube.com/watch?v=DWZ67Cx1zm8Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleFurther Reading:An Inconvenient Fact: Private Equity Returns & The Billionaire Factory: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3623820A Bottom-Up Approach to the Risk-Adjusted Performance of the Buyout Fund Market: https://www.tandfonline.com/doi/pdf/10.2469/faj.v72.n4.1#:Cliff Asness – Volatility Laundering: https://www.institutionalinvestor.com/article/2bstqfcskz9o72ospzlds/opinion/why-does-private-equity-get-to-play-make-believe-with-pricesMark Anson Paper: https://www.jstor.org/stable/43503783Aswath Damodaran Slides: https://pages.stern.nyu.edu/~adamodar/pdfiles/eqnotes/privateequity.pdfMSCI Leverage in Private Equity: https://www.msci.com/www/blog-posts/leverage-in-private-equity-what/04942552461#:~:text=Leverage%20can%20be%20a%20key,improvements%20rather%20than%20financial%20engineering.Visit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join*For the FlexiSpot free orders promotion. Customers need to pay upfront for the products - and the first 10 orders after 9PM PST on September 29th will receive a reimbursement of up to $1000 (sorted by order time). If the customer spends more than $1000, the portion of the order amount exceeding $1000 will be excluded from the free order refund. Learn more about your ad choices. Visit megaphone.fm/adchoices FlexiSpot’s Fall Sale is here, up to 50% OFF! Don’t miss your last chance to save big this season! Use my exclusive code "YTE7P50” to get an extra $50 off on E7 pro, E7 plus, and E7L. FlexiSpot also have ""100% Free Orders"" on Sep 29th, 9:00 PM PST!!!

FlexiSpot E7L Standing Desk:
https://bit.ly/3Zvw58p (US)
https://bit.ly/3BeQa8S (CA)

In a recent CNBC interview Tony Robbins extolled the virtues of investing in private equity, arguing that private equity provided high returns – with low risk. Is he right? Should everyone invest in Private Equity?

Here is a link to the full CNBC video: https://www.youtube.com/watch?v=DWZ67Cx1zm8

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Further Reading:
An Inconvenient Fact: Private Equity Returns & The Billionaire Factory: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3623820
A Bottom-Up Approach to the Risk-Adjusted Performance of the Buyout Fund Market: https://www.tandfonline.com/doi/pdf/10.2469/faj.v72.n4.1#:
Cliff Asness – Volatility Laundering: https://www.institutionalinvestor.com/article/2bstqfcskz9o72ospzlds/opinion/why-does-private-equity-get-to-play-make-believe-with-prices
Mark Anson Paper: https://www.jstor.org/stable/43503783
Aswath Damodaran Slides: https://pages.stern.nyu.edu/~adamodar/pdfiles/eqnotes/privateequity.pdf
MSCI Leverage in Private Equity: https://www.msci.com/www/blog-posts/leverage-in-private-equity-what/04942552461#:~:text=Leverage%20can%20be%20a%20key,improvements%20rather%20than%20financial%20engineering.

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

*For the FlexiSpot free orders promotion. Customers need to pay upfront for the products - and the first 10 orders after 9PM PST on September 29th will receive a reimbursement of up to $1000 (sorted by order time). If the customer spends more than $1000, the portion of the order amount exceeding $1000 will be excluded from the free order refund.

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]]> 2295 no America’s Tax on Foreign Investors - Section 899 Enjoy 15% off all Hoverpens for the first 48 hours and a 10% offer after! You can also get a FREE shipping to most countries using my code PATRICK➡️ North America / UK / Australia / International: http://bit.ly/patrickb_novium➡️ EU: http://bit.ly/patrickb_noviumeuAs the Senate decides on Donald Trump’s One Big Beautiful Budget, a lesser-known provision tucked into the House-approved bill has drawn attention from Wall Street.The measure, known as Section 899, would allow the U.S. to add a new tax of up to 20% on foreigners with U.S. investments, including multinational companies operating in the U.S.Some analysts call the provision a “revenge tax” due to its wording. It would apply to foreign entities if their home country imposes “unfair foreign taxes” against U.S. companies, according to the bill. Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 03:38:45 -0000 full Patrick Boyle Enjoy 15% off all Hoverpens for the first 48 hours and a 10% offer after! You can also get a FREE shipping to most countries using my code PATRICK➡️ North America / UK / Australia / International: http://bit.ly/patrickb_novium➡️ EU: http://bit.ly/patrickb_noviumeuAs the Senate decides on Donald Trump’s One Big Beautiful Budget, a lesser-known provision tucked into the House-approved bill has drawn attention from Wall Street.The measure, known as Section 899, would allow the U.S. to add a new tax of up to 20% on foreigners with U.S. investments, including multinational companies operating in the U.S.Some analysts call the provision a “revenge tax” due to its wording. It would apply to foreign entities if their home country imposes “unfair foreign taxes” against U.S. companies, according to the bill. Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Enjoy 15% off all Hoverpens for the first 48 hours and a 10% offer after! You can also get a FREE shipping to most countries using my code PATRICK

➡️ North America / UK / Australia / International: http://bit.ly/patrickb_novium
➡️ EU: http://bit.ly/patrickb_noviumeu

As the Senate decides on Donald Trump’s One Big Beautiful Budget, a lesser-known provision tucked into the House-approved bill has drawn attention from Wall Street.

The measure, known as Section 899, would allow the U.S. to add a new tax of up to 20% on foreigners with U.S. investments, including multinational companies operating in the U.S.

Some analysts call the provision a “revenge tax” due to its wording. It would apply to foreign entities if their home country imposes “unfair foreign taxes” against U.S. companies, according to the bill.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2401 no Applied Portfolio Management - Class 5 - Behavioral Finance All slides are available on my Patreon page: https://www.patreon.com/PatrickBoyleOnFinanceTodays Class is an introduction to Behavioral Finance.Books MentionedThinking Fast & Slow by Daniel Kahneman https://amzn.to/2UFfz2sMarket Sense & Nonsense by Jack Schwager https://amzn.to/3bwKKDRVictor Haghani Coin Flipping Paper: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2856963Ewan Kirk Paper: https://www.cantabcapital.com/we-think/you-probably-can-t-lose?m=trueBuy Patricks Book Here: https://amzn.to/2J2kF3AVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 03:10:00 -0000 full Patrick Boyle All slides are available on my Patreon page: https://www.patreon.com/PatrickBoyleOnFinanceTodays Class is an introduction to Behavioral Finance.Books MentionedThinking Fast & Slow by Daniel Kahneman https://amzn.to/2UFfz2sMarket Sense & Nonsense by Jack Schwager https://amzn.to/3bwKKDRVictor Haghani Coin Flipping Paper: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2856963Ewan Kirk Paper: https://www.cantabcapital.com/we-think/you-probably-can-t-lose?m=trueBuy Patricks Book Here: https://amzn.to/2J2kF3AVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices All slides are available on my Patreon page: https://www.patreon.com/PatrickBoyleOnFinance

Todays Class is an introduction to Behavioral Finance.

Books Mentioned
Thinking Fast & Slow by Daniel Kahneman https://amzn.to/2UFfz2s
Market Sense & Nonsense by Jack Schwager https://amzn.to/3bwKKDR

Victor Haghani Coin Flipping Paper: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2856963
Ewan Kirk Paper: https://www.cantabcapital.com/we-think/you-probably-can-t-lose?m=true


Buy Patricks Book Here: https://amzn.to/2J2kF3A
Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 6423 no Why Are Birthrates Plummeting Worldwide? Go to https://ground.news/pb to get up to 40% off unlimited access to stay fully informed. Subscribe through my link this month for 40% off unlimited access. Birth rates are plummeting worldwide – and while this might seem like nothing new – as it has been the case in developed countries for quite some time. The thing that is interesting is that we are seeing declining birth rates everywhere and the standard explanations that you have heard in the past don’t really hold up.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveAlice evans Blog: https://www.ggd.world/p/why-are-chinese-marriages-plummetingGoodhart & Pradhan - The Great Demographic Reversal: https://amzn.to/4iswSgWFT - The Relationship Recession: https://www.ft.com/content/43e2b4f6-5ab7-4c47-b9fd-d611c36dad74FT - The New Global Gender Divide: https://www.ft.com/content/29fd9b5c-2f35-41bf-9d4c-994db4e12998Join this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 03:10:00 -0000 full Patrick Boyle Go to https://ground.news/pb to get up to 40% off unlimited access to stay fully informed. Subscribe through my link this month for 40% off unlimited access. Birth rates are plummeting worldwide – and while this might seem like nothing new – as it has been the case in developed countries for quite some time. The thing that is interesting is that we are seeing declining birth rates everywhere and the standard explanations that you have heard in the past don’t really hold up.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveAlice evans Blog: https://www.ggd.world/p/why-are-chinese-marriages-plummetingGoodhart & Pradhan - The Great Demographic Reversal: https://amzn.to/4iswSgWFT - The Relationship Recession: https://www.ft.com/content/43e2b4f6-5ab7-4c47-b9fd-d611c36dad74FT - The New Global Gender Divide: https://www.ft.com/content/29fd9b5c-2f35-41bf-9d4c-994db4e12998Join this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Go to https://ground.news/pb to get up to 40% off unlimited access to stay fully informed. Subscribe through my link this month for 40% off unlimited access.

Birth rates are plummeting worldwide – and while this might seem like nothing new – as it has been the case in developed countries for quite some time. The thing that is interesting is that we are seeing declining birth rates everywhere and the standard explanations that you have heard in the past don’t really hold up.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Alice evans Blog: https://www.ggd.world/p/why-are-chinese-marriages-plummeting
Goodhart & Pradhan - The Great Demographic Reversal: https://amzn.to/4iswSgW
FT - The Relationship Recession: https://www.ft.com/content/43e2b4f6-5ab7-4c47-b9fd-d611c36dad74
FT - The New Global Gender Divide: https://www.ft.com/content/29fd9b5c-2f35-41bf-9d4c-994db4e12998


Join this channel to support making this content:
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]]> 2100 no Swaps and Credit Derivatives - Revision Lecture These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 02:41:15 -0000 full Patrick Boyle These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

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]]> 3985 no Epstein - Follow The Money! 👉 To try everything Brilliant has to offer for free for a full 30 days, visit https://brilliant.org/patrick/. You’ll also get 20% off an annual premium subscription.Jeffrey Epstein was a college dropout with no formal financial training who amassed a fortune worth hundreds of millions of dollars and mingled with presidents and billionaires. Drawing on court records and media investigations we trace where Epstein's money came from and what happened to it? From his first job as a high school teacher to involvement in a Ponzi scheme, secretive offshore firms, and powerful clients like Les Wexner and Leon Black. As conspiracy theories swirl and official narratives shift, one question remains unanswered: where did Epstein's money actually come from?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 02:41:15 -0000 full Patrick Boyle 👉 To try everything Brilliant has to offer for free for a full 30 days, visit https://brilliant.org/patrick/. You’ll also get 20% off an annual premium subscription.Jeffrey Epstein was a college dropout with no formal financial training who amassed a fortune worth hundreds of millions of dollars and mingled with presidents and billionaires. Drawing on court records and media investigations we trace where Epstein's money came from and what happened to it? From his first job as a high school teacher to involvement in a Ponzi scheme, secretive offshore firms, and powerful clients like Les Wexner and Leon Black. As conspiracy theories swirl and official narratives shift, one question remains unanswered: where did Epstein's money actually come from?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices 👉 To try everything Brilliant has to offer for free for a full 30 days, visit https://brilliant.org/patrick/. You’ll also get 20% off an annual premium subscription.

Jeffrey Epstein was a college dropout with no formal financial training who amassed a fortune worth hundreds of millions of dollars and mingled with presidents and billionaires. Drawing on court records and media investigations we trace where Epstein's money came from and what happened to it? From his first job as a high school teacher to involvement in a Ponzi scheme, secretive offshore firms, and powerful clients like Les Wexner and Leon Black. As conspiracy theories swirl and official narratives shift, one question remains unanswered: where did Epstein's money actually come from?

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

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]]> 2753 no Elon Musk Admits DOGE Was a Failure! Thank you to Bilt for sponsoring this video! Start earning rewards on rent right now when you sign up at https://biltrewards.yt.link/MtRNXADDOGE promised to cut $2 trillion from the U.S. budget. Instead, it delivered chaos, memes, and a black eye—literally. In this video, we unpack Elon Musk’s candid post-mortem on the Department of Government Efficiency, why the savings never showed up, and how the “Manhattan Project of our time” turned into a bottle rocket. From the Wall of Receipts to the IRS meltdown and USAID’s woodchipper moment, we follow the money (and the missing billions) using Treasury data, Brookings analysis, and some jaw-dropping anecdotes. If you want the truth behind the headlines—and a few laughs along the way—this is the deep dive you’ve been waiting for.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 02:12:30 -0000 full Patrick Boyle Thank you to Bilt for sponsoring this video! Start earning rewards on rent right now when you sign up at https://biltrewards.yt.link/MtRNXADDOGE promised to cut $2 trillion from the U.S. budget. Instead, it delivered chaos, memes, and a black eye—literally. In this video, we unpack Elon Musk’s candid post-mortem on the Department of Government Efficiency, why the savings never showed up, and how the “Manhattan Project of our time” turned into a bottle rocket. From the Wall of Receipts to the IRS meltdown and USAID’s woodchipper moment, we follow the money (and the missing billions) using Treasury data, Brookings analysis, and some jaw-dropping anecdotes. If you want the truth behind the headlines—and a few laughs along the way—this is the deep dive you’ve been waiting for.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Thank you to Bilt for sponsoring this video! Start earning rewards on rent right now when you sign up at https://biltrewards.yt.link/MtRNXAD

DOGE promised to cut $2 trillion from the U.S. budget. Instead, it delivered chaos, memes, and a black eye—literally. In this video, we unpack Elon Musk’s candid post-mortem on the Department of Government Efficiency, why the savings never showed up, and how the “Manhattan Project of our time” turned into a bottle rocket. From the Wall of Receipts to the IRS meltdown and USAID’s woodchipper moment, we follow the money (and the missing billions) using Treasury data, Brookings analysis, and some jaw-dropping anecdotes. If you want the truth behind the headlines—and a few laughs along the way—this is the deep dive you’ve been waiting for.


Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
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]]> 2629 no How to Lose a Global AI Monopoly in One Afternoon 🚀 Streamline your entire business with Odoo! The all-in-one, easy-to-use ERP platform that centralizes, automates, and scales your operations from sales and accounting to inventory and eCommerce 📈⚙️. Try out Odoo for 15 days (no credit card required) 👉🏻 https://www.odoo.com/r/N0SLast week, shortly after Anthropic launched its most powerful AI models, the U.S. government imposed export controls restricting foreign nationals from accessing them - and rather than try to verify the citizenship of every user on the planet within ninety minutes, Anthropic shut the models down for everyone. In this video we look at what actually happened: the Commerce Department's "is informed" letter, the deemed-export rules that locked Anthropic's own engineers out of their work, the claim that the "national security threat" was essentially an AI fixing software bugs, and the awkward detail that the partner who reported it was Amazon - Anthropic's largest backer and a direct competitor. We also dig into why all of this matters for Anthropic's near-trillion-dollar valuation, the winner-takes-all assumptions behind frontier AI, the rise of cheap open-source Chinese models, and whether there's really any such thing as a monopoly on math.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 02:12:30 -0000 full Patrick Boyle 🚀 Streamline your entire business with Odoo! The all-in-one, easy-to-use ERP platform that centralizes, automates, and scales your operations from sales and accounting to inventory and eCommerce 📈⚙️. Try out Odoo for 15 days (no credit card required) 👉🏻 https://www.odoo.com/r/N0SLast week, shortly after Anthropic launched its most powerful AI models, the U.S. government imposed export controls restricting foreign nationals from accessing them - and rather than try to verify the citizenship of every user on the planet within ninety minutes, Anthropic shut the models down for everyone. In this video we look at what actually happened: the Commerce Department's "is informed" letter, the deemed-export rules that locked Anthropic's own engineers out of their work, the claim that the "national security threat" was essentially an AI fixing software bugs, and the awkward detail that the partner who reported it was Amazon - Anthropic's largest backer and a direct competitor. We also dig into why all of this matters for Anthropic's near-trillion-dollar valuation, the winner-takes-all assumptions behind frontier AI, the rise of cheap open-source Chinese models, and whether there's really any such thing as a monopoly on math.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices 🚀 Streamline your entire business with Odoo! The all-in-one, easy-to-use ERP platform that centralizes, automates, and scales your operations from sales and accounting to inventory and eCommerce 📈⚙️.

Try out Odoo for 15 days (no credit card required) 👉🏻 https://www.odoo.com/r/N0S

Last week, shortly after Anthropic launched its most powerful AI models, the U.S. government imposed export controls restricting foreign nationals from accessing them - and rather than try to verify the citizenship of every user on the planet within ninety minutes, Anthropic shut the models down for everyone. In this video we look at what actually happened: the Commerce Department's "is informed" letter, the deemed-export rules that locked Anthropic's own engineers out of their work, the claim that the "national security threat" was essentially an AI fixing software bugs, and the awkward detail that the partner who reported it was Amazon - Anthropic's largest backer and a direct competitor. We also dig into why all of this matters for Anthropic's near-trillion-dollar valuation, the winner-takes-all assumptions behind frontier AI, the rise of cheap open-source Chinese models, and whether there's really any such thing as a monopoly on math.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
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]]> 2303 no The Best and Worst Wall Street Films! Ad: 🔒Remove your personal information from the web at https://joindeleteme.com/BOYLE and use code BOYLE for 20% off🙌🏻 DeleteMe international Plans: https://international.joindeleteme.comPatrick Boyle, a former Wall Street trader, rates the biggest finance movies like "The Wolf of Wall Street," "The Big Short," "Rogue Trader" and "American Psycho" for realism.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 01:43:45 -0000 full Patrick Boyle Ad: 🔒Remove your personal information from the web at https://joindeleteme.com/BOYLE and use code BOYLE for 20% off🙌🏻 DeleteMe international Plans: https://international.joindeleteme.comPatrick Boyle, a former Wall Street trader, rates the biggest finance movies like "The Wolf of Wall Street," "The Big Short," "Rogue Trader" and "American Psycho" for realism.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Ad: 🔒Remove your personal information from the web at https://joindeleteme.com/BOYLE and use code BOYLE for 20% off
🙌🏻 DeleteMe international Plans: https://international.joindeleteme.com

Patrick Boyle, a former Wall Street trader, rates the biggest finance movies like "The Wolf of Wall Street," "The Big Short," "Rogue Trader" and "American Psycho" for realism.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
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Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2003 no What is Options Gamma? The Options Greeks - Trading Tutorial These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is Options Gamma?Gamma is a measure of the rate of change of its delta . The gamma of an option is expressed as a percentage and reflects the change in the delta in response to a one point movement of the underlying stock price. Like the delta, the gamma is constantly changing, even with tiny movements of the underlying stock price. It generally is at its peak value when the stock price is near the strike price of the option and decreases as the option goes deeper into or out of the money.what is delta gamma theta vega in options? Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 01:43:45 -0000 full Patrick Boyle These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is Options Gamma?Gamma is a measure of the rate of change of its delta . The gamma of an option is expressed as a percentage and reflects the change in the delta in response to a one point movement of the underlying stock price. Like the delta, the gamma is constantly changing, even with tiny movements of the underlying stock price. It generally is at its peak value when the stock price is near the strike price of the option and decreases as the option goes deeper into or out of the money.what is delta gamma theta vega in options? Learn more about your ad choices. Visit megaphone.fm/adchoices These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

What is Options Gamma?

Gamma is a measure of the rate of change of its delta . The gamma of an option is expressed as a percentage and reflects the change in the delta in response to a one point movement of the underlying stock price. Like the delta, the gamma is constantly changing, even with tiny movements of the underlying stock price. It generally is at its peak value when the stock price is near the strike price of the option and decreases as the option goes deeper into or out of the money.

what is delta gamma theta vega in options?

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 469 no When Should I Exercise an American Stock Option - Finance Tutorial These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoylePeople are often confused as to when it makes sense to exercise an option. Most of the time it does not make sense to early exercise American options. In this video we go through the scenarios where it might make sense.For an American-style call option, early exercise is a possibility whenever the benefits of being long the underlying outweighs the cost of giving up the option early (the benefits of being long the underlying outweigh the foregone time value of the option). For example, on the day before an ex-dividend date, it may make sense to exercise an equity call option early in order to collect the dividend. In general, equity call options should only be exercised early on the day before an ex-dividend date, and then only for deep in-the-money options when the dividend is sufficiently large For an American-style put option, early exercise might make sense if it is deep in-the-money. In this case, it may be wise to exercise the option early in order to obtain the intrinsic value (K – S) earlier so that it can start to earn interest immediately. This is somewhat more likely to be worthwhile if there is no ex-dividend date, which would probably cause the price of the underlying to fall further between now and the expiry date. This would usually require interest rates to be relatively high.When should I exercise an option? Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 01:15:00 -0000 full Patrick Boyle These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoylePeople are often confused as to when it makes sense to exercise an option. Most of the time it does not make sense to early exercise American options. In this video we go through the scenarios where it might make sense.For an American-style call option, early exercise is a possibility whenever the benefits of being long the underlying outweighs the cost of giving up the option early (the benefits of being long the underlying outweigh the foregone time value of the option). For example, on the day before an ex-dividend date, it may make sense to exercise an equity call option early in order to collect the dividend. In general, equity call options should only be exercised early on the day before an ex-dividend date, and then only for deep in-the-money options when the dividend is sufficiently large For an American-style put option, early exercise might make sense if it is deep in-the-money. In this case, it may be wise to exercise the option early in order to obtain the intrinsic value (K – S) earlier so that it can start to earn interest immediately. This is somewhat more likely to be worthwhile if there is no ex-dividend date, which would probably cause the price of the underlying to fall further between now and the expiry date. This would usually require interest rates to be relatively high.When should I exercise an option? Learn more about your ad choices. Visit megaphone.fm/adchoices These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

People are often confused as to when it makes sense to exercise an option. Most of the time it does not make sense to early exercise American options. In this video we go through the scenarios where it might make sense.

For an American-style call option, early exercise is a possibility whenever the benefits of being long the underlying outweighs the cost of giving up the option early (the benefits of being long the underlying outweigh the foregone time value of the option). For example, on the day before an ex-dividend date, it may make sense to exercise an equity call option early in order to collect the dividend. In general, equity call options should only be exercised early on the day before an ex-dividend date, and then only for deep in-the-money options when the dividend is sufficiently large

For an American-style put option, early exercise might make sense if it is deep in-the-money. In this case, it may be wise to exercise the option early in order to obtain the intrinsic value (K – S) earlier so that it can start to earn interest immediately. This is somewhat more likely to be worthwhile if there is no ex-dividend date, which would probably cause the price of the underlying to fall further between now and the expiry date. This would usually require interest rates to be relatively high.




When should I exercise an option?

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]]> 576 no The Biggest Wealth Transfer In History is Happening Right Now! Go to https://surfshark.com/boyle and use code BOYLE at checkout to get 4 extra months of Surfshark VPN!Let's talk about The Great Wealth Transfer, what this means for the economy, and why millennials are expected to become the Wealthiest Generation in history.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/joinBooks Mentioned:The Missing Billionaires - Haghani & White https://amzn.to/4di55hq Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 01:15:00 -0000 full Patrick Boyle Go to https://surfshark.com/boyle and use code BOYLE at checkout to get 4 extra months of Surfshark VPN!Let's talk about The Great Wealth Transfer, what this means for the economy, and why millennials are expected to become the Wealthiest Generation in history.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/joinBooks Mentioned:The Missing Billionaires - Haghani & White https://amzn.to/4di55hq Learn more about your ad choices. Visit megaphone.fm/adchoices Go to https://surfshark.com/boyle and use code BOYLE at checkout to get 4 extra months of Surfshark VPN!

Let's talk about The Great Wealth Transfer, what this means for the economy, and why millennials are expected to become the Wealthiest Generation in history.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
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Books Mentioned:
The Missing Billionaires - Haghani & White https://amzn.to/4di55hq

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]]> 1752 no Options Margin These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 00:46:15 -0000 full Patrick Boyle These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Learn more about your ad choices. Visit megaphone.fm/adchoices These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 496 no Why is The World Run by Old People? Go to https://ground.news/pb to get up to 40% off unlimited access to stay fully informed. Subscribe through my link this month for 40% off unlimited access. The average American is 39 years old - which is half the age of the sitting president - Donald Trump. When Ronald Reagan was inaugurated at 69 years old, he became the oldest person to have ever served as president. Donald Trump and Joe Biden are even older and are now - the two oldest men to ever be inaugurated as president. The average ages in the House and Senate at 58 and 64, are significantly older than the average American. A word often used to describe the nation’s governing class is “gerontocracy” - meaning government based on rule by old people.It's not just in the US either - around the world our political leaders are older than ever before. Why has this happened?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 00:46:15 -0000 full Patrick Boyle Go to https://ground.news/pb to get up to 40% off unlimited access to stay fully informed. Subscribe through my link this month for 40% off unlimited access. The average American is 39 years old - which is half the age of the sitting president - Donald Trump. When Ronald Reagan was inaugurated at 69 years old, he became the oldest person to have ever served as president. Donald Trump and Joe Biden are even older and are now - the two oldest men to ever be inaugurated as president. The average ages in the House and Senate at 58 and 64, are significantly older than the average American. A word often used to describe the nation’s governing class is “gerontocracy” - meaning government based on rule by old people.It's not just in the US either - around the world our political leaders are older than ever before. Why has this happened?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Go to https://ground.news/pb to get up to 40% off unlimited access to stay fully informed. Subscribe through my link this month for 40% off unlimited access.

The average American is 39 years old - which is half the age of the sitting president - Donald Trump.
When Ronald Reagan was inaugurated at 69 years old, he became the oldest person to have ever served as president. Donald Trump and Joe Biden are even older and are now - the two oldest men to ever be inaugurated as president.

The average ages in the House and Senate at 58 and 64, are significantly older than the average American. A word often used to describe the nation’s governing class is “gerontocracy” - meaning government based on rule by old people.

It's not just in the US either - around the world our political leaders are older than ever before. Why has this happened?

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
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Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 1591 no Is China Dumping the Dollar? - And is Ray Dalio Right about Reserve Currencies? 🌟Go to http://covepure.com/patrick to get $200 OFF now!In the wake of trump's liberation day tariffs, stocks, bonds and the US dollar collapsed all at once as investors started dumping American assets. Some commentators argued that China might be behind the selling to put the US government under pressure. In this week's video let's discuss if it is wise to sell US assets should investors demand a risk premium, is Ray Dalio is right about how reserve currencies change over time and what is the Mar A Lago accord?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 00:17:30 -0000 full Patrick Boyle 🌟Go to http://covepure.com/patrick to get $200 OFF now!In the wake of trump's liberation day tariffs, stocks, bonds and the US dollar collapsed all at once as investors started dumping American assets. Some commentators argued that China might be behind the selling to put the US government under pressure. In this week's video let's discuss if it is wise to sell US assets should investors demand a risk premium, is Ray Dalio is right about how reserve currencies change over time and what is the Mar A Lago accord?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices 🌟Go to http://covepure.com/patrick to get $200 OFF now!

In the wake of trump's liberation day tariffs, stocks, bonds and the US dollar collapsed all at once as investors started dumping American assets. Some commentators argued that China might be behind the selling to put the US government under pressure. In this week's video let's discuss if it is wise to sell US assets should investors demand a risk premium, is Ray Dalio is right about how reserve currencies change over time and what is the Mar A Lago accord?

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2726 no The Volatility Smile - Options Trading Lessons The volatility smile is a real-life pattern that is observed when different strikes of option, with the same underlying and same expiration date are plotted on a graph.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoylePatreon Page: https://www.patreon.com/PatrickBoyleOnFinanceVolatility smiles are implied volatility patterns that arise in pricing financial options. It corresponds to finding one single parameter (implied volatility) that is needed to be modified for the Black-Scholes formula to fit market prices. In particular for a given expiration, options whose strike price differs substantially from the underlying asset's price command higher prices (and thus implied volatilities) than what is suggested by standard option pricing models. These options are said to be either deep in-the-money or out-of-the-money. Graphing implied volatilities against strike prices for a given expiry yields a skewed "smile" instead of the expected flat surface. The pattern differs across various markets. Equity options traded in American markets did not show a volatility smile before the Crash of 1987 but began showing one afterwards. It is believed that investor reassessments of the probabilities of fat-tail have led to higher prices for out-of-the-money options. This anomaly implies deficiencies in the standard Black-Scholes option pricing model which assumes constant volatility and log-normal distributions of underlying asset returns. Empirical asset returns distributions, however, tend to exhibit fat-tails (kurtosis) and skew. Modelling the volatility smile is an active area of research in quantitative finance, and better pricing models such as the stochastic volatility model partially address this issue. A related concept is that of term structure of volatility, which describes how (implied) volatility differs for related options with different maturities. We will be learning about that in tomorrows video. An implied volatility surface is a 3-D plot that plots volatility smile and term structure of volatility in a consolidated three-dimensional surface for all options on a given underlying asset. Learn more about your ad choices. Visit megaphone.fm/adchoices Sat, 31 Oct 2026 00:17:30 -0000 full Patrick Boyle The volatility smile is a real-life pattern that is observed when different strikes of option, with the same underlying and same expiration date are plotted on a graph.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoylePatreon Page: https://www.patreon.com/PatrickBoyleOnFinanceVolatility smiles are implied volatility patterns that arise in pricing financial options. It corresponds to finding one single parameter (implied volatility) that is needed to be modified for the Black-Scholes formula to fit market prices. In particular for a given expiration, options whose strike price differs substantially from the underlying asset's price command higher prices (and thus implied volatilities) than what is suggested by standard option pricing models. These options are said to be either deep in-the-money or out-of-the-money. Graphing implied volatilities against strike prices for a given expiry yields a skewed "smile" instead of the expected flat surface. The pattern differs across various markets. Equity options traded in American markets did not show a volatility smile before the Crash of 1987 but began showing one afterwards. It is believed that investor reassessments of the probabilities of fat-tail have led to higher prices for out-of-the-money options. This anomaly implies deficiencies in the standard Black-Scholes option pricing model which assumes constant volatility and log-normal distributions of underlying asset returns. Empirical asset returns distributions, however, tend to exhibit fat-tails (kurtosis) and skew. Modelling the volatility smile is an active area of research in quantitative finance, and better pricing models such as the stochastic volatility model partially address this issue. A related concept is that of term structure of volatility, which describes how (implied) volatility differs for related options with different maturities. We will be learning about that in tomorrows video. An implied volatility surface is a 3-D plot that plots volatility smile and term structure of volatility in a consolidated three-dimensional surface for all options on a given underlying asset. Learn more about your ad choices. Visit megaphone.fm/adchoices The volatility smile is a real-life pattern that is observed when different strikes of option, with the same underlying and same expiration date are plotted on a graph.

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance

Volatility smiles are implied volatility patterns that arise in pricing financial options. It corresponds to finding one single parameter (implied volatility) that is needed to be modified for the Black-Scholes formula to fit market prices. In particular for a given expiration, options whose strike price differs substantially from the underlying asset's price command higher prices (and thus implied volatilities) than what is suggested by standard option pricing models. These options are said to be either deep in-the-money or out-of-the-money.

Graphing implied volatilities against strike prices for a given expiry yields a skewed "smile" instead of the expected flat surface. The pattern differs across various markets. Equity options traded in American markets did not show a volatility smile before the Crash of 1987 but began showing one afterwards. It is believed that investor reassessments of the probabilities of fat-tail have led to higher prices for out-of-the-money options. This anomaly implies deficiencies in the standard Black-Scholes option pricing model which assumes constant volatility and log-normal distributions of underlying asset returns. Empirical asset returns distributions, however, tend to exhibit fat-tails (kurtosis) and skew. Modelling the volatility smile is an active area of research in quantitative finance, and better pricing models such as the stochastic volatility model partially address this issue.

A related concept is that of term structure of volatility, which describes how (implied) volatility differs for related options with different maturities. We will be learning about that in tomorrows video. An implied volatility surface is a 3-D plot that plots volatility smile and term structure of volatility in a consolidated three-dimensional surface for all options on a given underlying asset.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 1168 no What is Options Vega? The Options Greeks - Options Trading Tutorial These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is Options Vega?Vega is a measure of the impact of changes in implied volatility on the option price. Specifically, the vega of an option expresses the change in the price of the option for every 1% change in implied volatility.Options tend to be more expensive when volatility is higher. Thus, whenever volatility goes up, the price of the option goes up and when volatility drops, the price of the option will also fall. ExampleA stock XYZ is trading at $46 in May and a JUN 50 call is selling for $2. Let's assume that the vega of the option is 0.15 and that the underlying volatility is 25%.If the underlying volatility increased by 1% to 26%, then the price of the option should rise to $2 + 0.15 = $2.15.However, if the volatility had gone down by 2% to 23% instead, then the option price should drop to $2 - (2 x 0.15) = $1.70Passage of time and its effects on the vegaThe more time remaining to option expiration, the higher the vega. This makes sense as time value makes up a larger proportion of the premium for longer term options and it is the time value that is sensitive to changes in volatility. Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 23:48:45 -0000 full Patrick Boyle These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is Options Vega?Vega is a measure of the impact of changes in implied volatility on the option price. Specifically, the vega of an option expresses the change in the price of the option for every 1% change in implied volatility.Options tend to be more expensive when volatility is higher. Thus, whenever volatility goes up, the price of the option goes up and when volatility drops, the price of the option will also fall. ExampleA stock XYZ is trading at $46 in May and a JUN 50 call is selling for $2. Let's assume that the vega of the option is 0.15 and that the underlying volatility is 25%.If the underlying volatility increased by 1% to 26%, then the price of the option should rise to $2 + 0.15 = $2.15.However, if the volatility had gone down by 2% to 23% instead, then the option price should drop to $2 - (2 x 0.15) = $1.70Passage of time and its effects on the vegaThe more time remaining to option expiration, the higher the vega. This makes sense as time value makes up a larger proportion of the premium for longer term options and it is the time value that is sensitive to changes in volatility. Learn more about your ad choices. Visit megaphone.fm/adchoices These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

What is Options Vega?
Vega is a measure of the impact of changes in implied volatility on the option price. Specifically, the vega of an option expresses the change in the price of the option for every 1% change in implied volatility.

Options tend to be more expensive when volatility is higher. Thus, whenever volatility goes up, the price of the option goes up and when volatility drops, the price of the option will also fall.

Example
A stock XYZ is trading at $46 in May and a JUN 50 call is selling for $2. Let's assume that the vega of the option is 0.15 and that the underlying volatility is 25%.

If the underlying volatility increased by 1% to 26%, then the price of the option should rise to $2 + 0.15 = $2.15.
However, if the volatility had gone down by 2% to 23% instead, then the option price should drop to $2 - (2 x 0.15) = $1.70

Passage of time and its effects on the vega
The more time remaining to option expiration, the higher the vega. This makes sense as time value makes up a larger proportion of the premium for longer term options and it is the time value that is sensitive to changes in volatility.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 520 no The Funniest Events of 2024 Ad: 🔒Remove your personal information from the web at https://joindeleteme.com/BOYLE and use code BOYLE for 20% off 🙌 DeleteMe international Plans: https://international.joindeleteme.comHere's a look back on some of the most impactful events in markets during 2024.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 23:48:45 -0000 full Patrick Boyle Ad: 🔒Remove your personal information from the web at https://joindeleteme.com/BOYLE and use code BOYLE for 20% off 🙌 DeleteMe international Plans: https://international.joindeleteme.comHere's a look back on some of the most impactful events in markets during 2024.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Ad: 🔒Remove your personal information from the web at https://joindeleteme.com/BOYLE and use code BOYLE for 20% off 🙌 DeleteMe international Plans: https://international.joindeleteme.com

Here's a look back on some of the most impactful events in markets during 2024.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
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]]> 1770 no Art Market Collapse? 👉 To try everything Brilliant has to offer for free for a full 30 days, visit https://brilliant.org/patrick/. You’ll also get 20% off an annual premium subscription.Why did the star lot of the spring season, a bronze head by the master sculptor Alberto Giacometti, fail to sell at Sotheby’s?Alberto Giacometti’s 1955 bust, “Grande tête mince" (“Big Thin Head”), carried a pre-sale estimate of $70 million in Sotheby’s Modern evening auction. The auctioneer started the bidding at $59 million dollars. But no one bid - the piece went unsold. It was the second high-profile lot to disappoint in two days. Andy Warhol’s “Big Electric Chair” (1967-68) was withdrawn from Christie’s 20th century evening auction the day before. Is the fine art market in trouble?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 23:20:00 -0000 full Patrick Boyle 👉 To try everything Brilliant has to offer for free for a full 30 days, visit https://brilliant.org/patrick/. You’ll also get 20% off an annual premium subscription.Why did the star lot of the spring season, a bronze head by the master sculptor Alberto Giacometti, fail to sell at Sotheby’s?Alberto Giacometti’s 1955 bust, “Grande tête mince" (“Big Thin Head”), carried a pre-sale estimate of $70 million in Sotheby’s Modern evening auction. The auctioneer started the bidding at $59 million dollars. But no one bid - the piece went unsold. It was the second high-profile lot to disappoint in two days. Andy Warhol’s “Big Electric Chair” (1967-68) was withdrawn from Christie’s 20th century evening auction the day before. Is the fine art market in trouble?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices 👉 To try everything Brilliant has to offer for free for a full 30 days, visit https://brilliant.org/patrick/. You’ll also get 20% off an annual premium subscription.

Why did the star lot of the spring season, a bronze head by the master sculptor Alberto Giacometti, fail to sell at Sotheby’s?

Alberto Giacometti’s 1955 bust, “Grande tête mince" (“Big Thin Head”), carried a pre-sale estimate of $70 million in Sotheby’s Modern evening auction. The auctioneer started the bidding at $59 million dollars. But no one bid - the piece went unsold. It was the second high-profile lot to disappoint in two days. Andy Warhol’s “Big Electric Chair” (1967-68) was withdrawn from Christie’s 20th century evening auction the day before.

Is the fine art market in trouble?

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

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]]> 1610 no What Went Wrong With California? Ad: 🔒Remove your personal information from the web at https://joindeleteme.com/BOYLE and use code BOYLE for 20% off 🙌 DeleteMe international Plans: https://international.joindeleteme.comSince the gold rush, California has been the go-to state for start-up companies. In recent years the Golden State has been losing the competition with neighboring states. More than 500 businesses have left California since 2005. Among these businesses were Fortune 500 companies and the economic impact from these departing companies is likely to be severe.California’s tax laws and prohibitive regulations are the leading causes of the massive corporate exodus. The business-friendly conditions, opportunities to save costs, and home-ownership options for employees in other states are a few reasons companies have decided to leave California. These factors led to the first three-year decline in population in Californias history. In today's video we ask, what went wrong with California? Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 23:20:00 -0000 full Patrick Boyle Ad: 🔒Remove your personal information from the web at https://joindeleteme.com/BOYLE and use code BOYLE for 20% off 🙌 DeleteMe international Plans: https://international.joindeleteme.comSince the gold rush, California has been the go-to state for start-up companies. In recent years the Golden State has been losing the competition with neighboring states. More than 500 businesses have left California since 2005. Among these businesses were Fortune 500 companies and the economic impact from these departing companies is likely to be severe.California’s tax laws and prohibitive regulations are the leading causes of the massive corporate exodus. The business-friendly conditions, opportunities to save costs, and home-ownership options for employees in other states are a few reasons companies have decided to leave California. These factors led to the first three-year decline in population in Californias history. In today's video we ask, what went wrong with California? Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Ad: 🔒Remove your personal information from the web at https://joindeleteme.com/BOYLE and use code BOYLE for 20% off 🙌 DeleteMe international Plans: https://international.joindeleteme.com

Since the gold rush, California has been the go-to state for start-up companies. In recent years the Golden State has been losing the competition with neighboring states. More than 500 businesses have left California since 2005. Among these businesses were Fortune 500 companies and the economic impact from these departing companies is likely to be severe.

California’s tax laws and prohibitive regulations are the leading causes of the massive corporate exodus. The business-friendly conditions, opportunities to save costs, and home-ownership options for employees in other states are a few reasons companies have decided to leave California. These factors led to the first three-year decline in population in Californias history. In today's video we ask, what went wrong with California?

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
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]]> 2207 no Conditional Value at Risk and Stress Testing in Financial Risk Management I this weeks class we learn about Conditional Value at Risk and Stress Testing.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat Is Conditional Value at Risk (CVaR)? Conditional Value at Risk (CVaR), also known as the expected shortfall, is a risk assessment measure that aims to quantify the amount of risk an investment portfolio has. CVaR is derived by taking a weighted average of the “extreme” losses in the tail of the distribution of possible returns, beyond the value at risk (VaR) cutoff point. Conditional value at risk is used in portfolio optimization as part of risk management.Understanding Conditional Value at Risk (CVaR) Conditional Value at Risk (CVaR) attempts to address the shortcomings of the VaR model, which is a statistical technique used to measure the level of financial risk within a firm or an investment portfolio over a specific time frame. While VaR represents a worst-case loss associated with a probability and a time horizon, CVaR is the expected loss if that worst case threshold is ever crossed. CVaR, in other words, quantifies the expected losses that occur beyond the VaR breakpoint. Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 22:51:15 -0000 full Patrick Boyle I this weeks class we learn about Conditional Value at Risk and Stress Testing.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat Is Conditional Value at Risk (CVaR)? Conditional Value at Risk (CVaR), also known as the expected shortfall, is a risk assessment measure that aims to quantify the amount of risk an investment portfolio has. CVaR is derived by taking a weighted average of the “extreme” losses in the tail of the distribution of possible returns, beyond the value at risk (VaR) cutoff point. Conditional value at risk is used in portfolio optimization as part of risk management.Understanding Conditional Value at Risk (CVaR) Conditional Value at Risk (CVaR) attempts to address the shortcomings of the VaR model, which is a statistical technique used to measure the level of financial risk within a firm or an investment portfolio over a specific time frame. While VaR represents a worst-case loss associated with a probability and a time horizon, CVaR is the expected loss if that worst case threshold is ever crossed. CVaR, in other words, quantifies the expected losses that occur beyond the VaR breakpoint. Learn more about your ad choices. Visit megaphone.fm/adchoices I this weeks class we learn about Conditional Value at Risk and Stress Testing.
These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

What Is Conditional Value at Risk (CVaR)?
Conditional Value at Risk (CVaR), also known as the expected shortfall, is a risk assessment measure that aims to quantify the amount of risk an investment portfolio has. CVaR is derived by taking a weighted average of the “extreme” losses in the tail of the distribution of possible returns, beyond the value at risk (VaR) cutoff point. Conditional value at risk is used in portfolio optimization as part of risk management.

Understanding Conditional Value at Risk (CVaR)
Conditional Value at Risk (CVaR) attempts to address the shortcomings of the VaR model, which is a statistical technique used to measure the level of financial risk within a firm or an investment portfolio over a specific time frame. While VaR represents a worst-case loss associated with a probability and a time horizon, CVaR is the expected loss if that worst case threshold is ever crossed. CVaR, in other words, quantifies the expected losses that occur beyond the VaR breakpoint.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 598 no Can Elon Musk Cut Two Trillion Dollars From the US Budget? Ad: 🔒Remove your personal information from the web at https://joindeleteme.com/BOYLE and use code BOYLE for 20% off 🙌 DeleteMe international Plans: https://international.joindeleteme.comElon Musk and Vivek Ramaswamy are heading up Donald Trump's newly created Department of Government Efficiency which plans to take aim at wasteful government spending. On the campaign Elon Musk claimed that he could cut two trillion dollars in government spending. What would those cuts look like and how likely is Elon Musk to succeed? Does Elon Musk have too many conflicts of interest to do this job?Subscribe to Patrick's interview channel here: https://www.youtube.com/watch?v=w7sWER7LJd8Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleAdditional Reading:Jetson Leder-Luis Website: https://sites.bu.edu/jetson/False Claims Act Reporting: https://www.justice.gov/civil/report-fraudThe Economist: https://www.economist.com/briefing/2021/11/20/governments-are-not-going-to-stop-getting-biggerReid Hoffman in The FT: https://www.ft.com/content/a3a329ee-8c9a-4abd-add2-eb7d56f4c108Visit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 22:51:15 -0000 full Patrick Boyle Ad: 🔒Remove your personal information from the web at https://joindeleteme.com/BOYLE and use code BOYLE for 20% off 🙌 DeleteMe international Plans: https://international.joindeleteme.comElon Musk and Vivek Ramaswamy are heading up Donald Trump's newly created Department of Government Efficiency which plans to take aim at wasteful government spending. On the campaign Elon Musk claimed that he could cut two trillion dollars in government spending. What would those cuts look like and how likely is Elon Musk to succeed? Does Elon Musk have too many conflicts of interest to do this job?Subscribe to Patrick's interview channel here: https://www.youtube.com/watch?v=w7sWER7LJd8Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleAdditional Reading:Jetson Leder-Luis Website: https://sites.bu.edu/jetson/False Claims Act Reporting: https://www.justice.gov/civil/report-fraudThe Economist: https://www.economist.com/briefing/2021/11/20/governments-are-not-going-to-stop-getting-biggerReid Hoffman in The FT: https://www.ft.com/content/a3a329ee-8c9a-4abd-add2-eb7d56f4c108Visit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Ad: 🔒Remove your personal information from the web at https://joindeleteme.com/BOYLE and use code BOYLE for 20% off 🙌 DeleteMe international Plans: https://international.joindeleteme.com

Elon Musk and Vivek Ramaswamy are heading up Donald Trump's newly created Department of Government Efficiency which plans to take aim at wasteful government spending. On the campaign Elon Musk claimed that he could cut two trillion dollars in government spending. What would those cuts look like and how likely is Elon Musk to succeed? Does Elon Musk have too many conflicts of interest to do this job?

Subscribe to Patrick's interview channel here: https://www.youtube.com/watch?v=w7sWER7LJd8

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Additional Reading:
Jetson Leder-Luis Website: https://sites.bu.edu/jetson/
False Claims Act Reporting: https://www.justice.gov/civil/report-fraud
The Economist: https://www.economist.com/briefing/2021/11/20/governments-are-not-going-to-stop-getting-bigger
Reid Hoffman in The FT: https://www.ft.com/content/a3a329ee-8c9a-4abd-add2-eb7d56f4c108

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2275 no Is Warren Buffett Buying Stocks in the downturn? What are the biggest investors doing right now? Did Warren Buffett go on a stock buying spree? In todays video we discuss whether Buffett feels markets are still too greedy right now or if it is time to buy. We will discuss the upcoming Berkshire Hathaway annual meeting and how it will be livestreamed this year.Buy Patricks' Books Here: https://amzn.to/3cW3T31Visit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleIn todays video we discuss what the biggest investors have been doing in the recent market downturn. We talk about Warren Buffett, Leon Cooperman and Carl Icahn.Berkshire Hathaway investors have been waiting for the company to put its cash pile to work. Warren Buffett has had a few quarters of active stock buying in the past few years, but the company's cash hoard has been growing since its last major purchase - the January 2016 acquisition of Precision Castparts.Berkshire has about $128 billion in cash and equivalents on its balance sheet. Since the COVID-19 pandemic and the resulting bear market began, investors have been waiting to see if the company will finally make some big moves.No major investments have come to fruition - at least not in the acquisition department. And judging by recent comments by Charlie Munger, there are no big acquisition targets in the company's immediate future.Berkshire could be putting some of its money to work in the stock market during the COVID-19 pandemic.The first important date for investors to watch is when Berkshire releases its first-quarter earnings report on Friday May 1 at the Berkshire Hathaway Annual Meeting 2020. We'll get a glimpse of how much cash the company had as of March 31, when the bear market was already well underway. If the cash hoard has declined significantly, we can infer that Berkshire has been doing some stock buying since there haven't been any major acquisitions announced.In the video I mention my favorite books on Warren Buffett and how he invests. The best book in my opinion is by Buffett The Making of an American Capitalist Roger Lowenstein and can be found at this link. https://amzn.to/2y7qT07It is also worthwhile reading Trade like Warren Buffett by James Altucher. https://amzn.to/2VKR2uNBillionaire investor Leon Cooperman said in an interview with CNBC on Thursday that government support to companies struggling during the coronavirus crisis is likely to change capitalism forever and that politics are moving to the left in the USA and taxes will need to go up—regardless of who wins the 2020 presidential election in November.In addition we discuss Carl Icahn, his Mall Short using CMBS, how he bought oil at a negative price, and his market outlook.Here is a video explaining what negative oil prices mean. https://youtu.be/dfqmjSOD7pQWarren Buffett stocks 2020 Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 22:22:30 -0000 full Patrick Boyle Did Warren Buffett go on a stock buying spree? In todays video we discuss whether Buffett feels markets are still too greedy right now or if it is time to buy. We will discuss the upcoming Berkshire Hathaway annual meeting and how it will be livestreamed this year.Buy Patricks' Books Here: https://amzn.to/3cW3T31Visit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleIn todays video we discuss what the biggest investors have been doing in the recent market downturn. We talk about Warren Buffett, Leon Cooperman and Carl Icahn.Berkshire Hathaway investors have been waiting for the company to put its cash pile to work. Warren Buffett has had a few quarters of active stock buying in the past few years, but the company's cash hoard has been growing since its last major purchase - the January 2016 acquisition of Precision Castparts.Berkshire has about $128 billion in cash and equivalents on its balance sheet. Since the COVID-19 pandemic and the resulting bear market began, investors have been waiting to see if the company will finally make some big moves.No major investments have come to fruition - at least not in the acquisition department. And judging by recent comments by Charlie Munger, there are no big acquisition targets in the company's immediate future.Berkshire could be putting some of its money to work in the stock market during the COVID-19 pandemic.The first important date for investors to watch is when Berkshire releases its first-quarter earnings report on Friday May 1 at the Berkshire Hathaway Annual Meeting 2020. We'll get a glimpse of how much cash the company had as of March 31, when the bear market was already well underway. If the cash hoard has declined significantly, we can infer that Berkshire has been doing some stock buying since there haven't been any major acquisitions announced.In the video I mention my favorite books on Warren Buffett and how he invests. The best book in my opinion is by Buffett The Making of an American Capitalist Roger Lowenstein and can be found at this link. https://amzn.to/2y7qT07It is also worthwhile reading Trade like Warren Buffett by James Altucher. https://amzn.to/2VKR2uNBillionaire investor Leon Cooperman said in an interview with CNBC on Thursday that government support to companies struggling during the coronavirus crisis is likely to change capitalism forever and that politics are moving to the left in the USA and taxes will need to go up—regardless of who wins the 2020 presidential election in November.In addition we discuss Carl Icahn, his Mall Short using CMBS, how he bought oil at a negative price, and his market outlook.Here is a video explaining what negative oil prices mean. https://youtu.be/dfqmjSOD7pQWarren Buffett stocks 2020 Learn more about your ad choices. Visit megaphone.fm/adchoices Did Warren Buffett go on a stock buying spree? In todays video we discuss whether Buffett feels markets are still too greedy right now or if it is time to buy. We will discuss the upcoming Berkshire Hathaway annual meeting and how it will be livestreamed this year.

Buy Patricks' Books Here: https://amzn.to/3cW3T31
Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle


In todays video we discuss what the biggest investors have been doing in the recent market downturn. We talk about Warren Buffett, Leon Cooperman and Carl Icahn.
Berkshire Hathaway investors have been waiting for the company to put its cash pile to work. Warren Buffett has had a few quarters of active stock buying in the past few years, but the company's cash hoard has been growing since its last major purchase - the January 2016 acquisition of Precision Castparts.
Berkshire has about $128 billion in cash and equivalents on its balance sheet. Since the COVID-19 pandemic and the resulting bear market began, investors have been waiting to see if the company will finally make some big moves.
No major investments have come to fruition - at least not in the acquisition department. And judging by recent comments by Charlie Munger, there are no big acquisition targets in the company's immediate future.
Berkshire could be putting some of its money to work in the stock market during the COVID-19 pandemic.
The first important date for investors to watch is when Berkshire releases its first-quarter earnings report on Friday May 1 at the Berkshire Hathaway Annual Meeting 2020. We'll get a glimpse of how much cash the company had as of March 31, when the bear market was already well underway. If the cash hoard has declined significantly, we can infer that Berkshire has been doing some stock buying since there haven't been any major acquisitions announced.
In the video I mention my favorite books on Warren Buffett and how he invests. The best book in my opinion is by Buffett The Making of an American Capitalist Roger Lowenstein and can be found at this link. https://amzn.to/2y7qT07
It is also worthwhile reading Trade like Warren Buffett by James Altucher. https://amzn.to/2VKR2uN
Billionaire investor Leon Cooperman said in an interview with CNBC on Thursday that government support to companies struggling during the coronavirus crisis is likely to change capitalism forever and that politics are moving to the left in the USA and taxes will need to go up—regardless of who wins the 2020 presidential election in November.
In addition we discuss Carl Icahn, his Mall Short using CMBS, how he bought oil at a negative price, and his market outlook.

Here is a video explaining what negative oil prices mean. https://youtu.be/dfqmjSOD7pQ


Warren Buffett stocks 2020

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 1039 no Volatility Trading - Call and Put Options - Trading Tutorial These classes are all based on the book Derivatives For The Trading Floor, available on Amazon at this link. https://amzn.to/3GdLi2s Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is volatility trading?Volatility trading is the term used to describe trading the volatility of the price of an underlying instrument rather than the price itself. For example, you could trade the price direction of an equity index, but volatility trading typically means trading the expected future volatility of the index. Any instrument whose price moves, exhibits price volatility. Volatility trading is simply buying and selling the expected future volatility of the instrument. Rather than predicting whether the price of an asset will move up or down, volatility traders are concerned with how much movement, in any direction, will occur.How is volatility traded?The most common way to trade volatility is using options. The value of an option is affected by several factors, but an essential determinant of its value is the expected future volatility of the underlying instrument, which is included in the pricing formulas as standard deviation. Other things being equal, options struck on an underlying with higher expected volatility will be more expensive than options struck on an underlying expected to be less volatile. Options therefore are a good way to gain exposure to the volatility of the underlying.The price of volatilityThe value of an option can be attributed to several components. By stripping these away, traders can imply an annualised volatility level that the option’s tick value equates to. This is known as the implied volatility. So an equity index may be trading at a certain price and it may have exhibited a certain realized level of volatility over the previous 12 months. Traders can compare this realized level of volatility with the current implied level as seen in the option market. However, there is a crucial difference here; the implied volatility level refers to the annualized volatility that is expected over the life of the option. In other words, it is forward looking and reflects traders’ current best estimate of what future realized volatility will be. Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 22:22:30 -0000 full Patrick Boyle These classes are all based on the book Derivatives For The Trading Floor, available on Amazon at this link. https://amzn.to/3GdLi2s Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is volatility trading?Volatility trading is the term used to describe trading the volatility of the price of an underlying instrument rather than the price itself. For example, you could trade the price direction of an equity index, but volatility trading typically means trading the expected future volatility of the index. Any instrument whose price moves, exhibits price volatility. Volatility trading is simply buying and selling the expected future volatility of the instrument. Rather than predicting whether the price of an asset will move up or down, volatility traders are concerned with how much movement, in any direction, will occur.How is volatility traded?The most common way to trade volatility is using options. The value of an option is affected by several factors, but an essential determinant of its value is the expected future volatility of the underlying instrument, which is included in the pricing formulas as standard deviation. Other things being equal, options struck on an underlying with higher expected volatility will be more expensive than options struck on an underlying expected to be less volatile. Options therefore are a good way to gain exposure to the volatility of the underlying.The price of volatilityThe value of an option can be attributed to several components. By stripping these away, traders can imply an annualised volatility level that the option’s tick value equates to. This is known as the implied volatility. So an equity index may be trading at a certain price and it may have exhibited a certain realized level of volatility over the previous 12 months. Traders can compare this realized level of volatility with the current implied level as seen in the option market. However, there is a crucial difference here; the implied volatility level refers to the annualized volatility that is expected over the life of the option. In other words, it is forward looking and reflects traders’ current best estimate of what future realized volatility will be. Learn more about your ad choices. Visit megaphone.fm/adchoices These classes are all based on the book Derivatives For The Trading Floor, available on Amazon at this link. https://amzn.to/3GdLi2s
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

What is volatility trading?
Volatility trading is the term used to describe trading the volatility of the price of an underlying instrument rather than the price itself. For example, you could trade the price direction of an equity index, but volatility trading typically means trading the expected future volatility of the index. Any instrument whose price moves, exhibits price volatility. Volatility trading is simply buying and selling the expected future volatility of the instrument. Rather than predicting whether the price of an asset will move up or down, volatility traders are concerned with how much movement, in any direction, will occur.

How is volatility traded?
The most common way to trade volatility is using options. The value of an option is affected by several factors, but an essential determinant of its value is the expected future volatility of the underlying instrument, which is included in the pricing formulas as standard deviation. Other things being equal, options struck on an underlying with higher expected volatility will be more expensive than options struck on an underlying expected to be less volatile. Options therefore are a good way to gain exposure to the volatility of the underlying.

The price of volatility
The value of an option can be attributed to several components. By stripping these away, traders can imply an annualised volatility level that the option’s tick value equates to. This is known as the implied volatility. So an equity index may be trading at a certain price and it may have exhibited a certain realized level of volatility over the previous 12 months. Traders can compare this realized level of volatility with the current implied level as seen in the option market. However, there is a crucial difference here; the implied volatility level refers to the annualized volatility that is expected over the life of the option. In other words, it is forward looking and reflects traders’ current best estimate of what future realized volatility will be.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 1414 no Convenience Yield Today we will learn in financial futures what is convenience yield?These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleIn Financial Futures, what is convenience yield?A convenience yield is the benefit or premium associated with holding an underlying product or physical good, rather than the associated derivative security or contract. Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 21:53:45 -0000 full Patrick Boyle Today we will learn in financial futures what is convenience yield?These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleIn Financial Futures, what is convenience yield?A convenience yield is the benefit or premium associated with holding an underlying product or physical good, rather than the associated derivative security or contract. Learn more about your ad choices. Visit megaphone.fm/adchoices Today we will learn in financial futures what is convenience yield?

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

In Financial Futures, what is convenience yield?

A convenience yield is the benefit or premium associated with holding an underlying product or physical good, rather than the associated derivative security or contract.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 719 no The Economic Toll of The Los Angeles Wildfires Thanks Morning Brew for my daily news briefing - sign up for free here: https://morningbrewdaily.com/patrickboyleThe Los Angeles wildfires have destroyed more than 12,000 structures and at least 24 people have died with more unaccounted for as multiple wildfires, fueled by severe drought conditions and strong winds, continue to burn. Wells Fargo and Goldman Sachs estimate that the destruction will cost insurers as much as $30 billion dollars and after accounting for non-insured damages, the total costs will balloon to $40 billion. The ongoing fires, already appear to be the costliest wildfire event in California history.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 21:53:45 -0000 full Patrick Boyle Thanks Morning Brew for my daily news briefing - sign up for free here: https://morningbrewdaily.com/patrickboyleThe Los Angeles wildfires have destroyed more than 12,000 structures and at least 24 people have died with more unaccounted for as multiple wildfires, fueled by severe drought conditions and strong winds, continue to burn. Wells Fargo and Goldman Sachs estimate that the destruction will cost insurers as much as $30 billion dollars and after accounting for non-insured damages, the total costs will balloon to $40 billion. The ongoing fires, already appear to be the costliest wildfire event in California history.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Thanks Morning Brew for my daily news briefing - sign up for free here: https://morningbrewdaily.com/patrickboyle

The Los Angeles wildfires have destroyed more than 12,000 structures and at least 24 people have died with more unaccounted for as multiple wildfires, fueled by severe drought conditions and strong winds, continue to burn. Wells Fargo and Goldman Sachs estimate that the destruction will cost insurers as much as $30 billion dollars and after accounting for non-insured damages, the total costs will balloon to $40 billion. The ongoing fires, already appear to be the costliest wildfire event in California history.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

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]]> 1703 no An Introduction To Options - Revision Lecture Buy The Book Here: https://amzn.to/2Vo18lnFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 21:25:00 -0000 full Patrick Boyle Buy The Book Here: https://amzn.to/2Vo18lnFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices Buy The Book Here: https://amzn.to/2Vo18ln

Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

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]]> 3952 no Is the Global Trading System Breaking Down? 🎶 Check out OpenDots ONE → https://sdqk.shokz.com/PatrickBoyle/zDbShuZW?utm_content=linkIn this video, we examine the implications of Trump’s latest trade deals —from the one-sided EU deal to politically charged moves against Brazil. Are the deals being structured to exclude China from global supply chains and are these tariffs just about trade, or something more? We explore how constant changes are disrupting business activity, whether manufacturing is really coming back to the U.S., and what history tells us about protectionism’s impact on innovation and productivity.Unhedged Podcast Link: https://podcasts.apple.com/us/podcast/the-eu-folds-on-tariffs/id1691284824?i=1000719679953Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 21:25:00 -0000 full Patrick Boyle 🎶 Check out OpenDots ONE → https://sdqk.shokz.com/PatrickBoyle/zDbShuZW?utm_content=linkIn this video, we examine the implications of Trump’s latest trade deals —from the one-sided EU deal to politically charged moves against Brazil. Are the deals being structured to exclude China from global supply chains and are these tariffs just about trade, or something more? We explore how constant changes are disrupting business activity, whether manufacturing is really coming back to the U.S., and what history tells us about protectionism’s impact on innovation and productivity.Unhedged Podcast Link: https://podcasts.apple.com/us/podcast/the-eu-folds-on-tariffs/id1691284824?i=1000719679953Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices 🎶 Check out OpenDots ONE → https://sdqk.shokz.com/PatrickBoyle/zDbShuZW?utm_content=link

In this video, we examine the implications of Trump’s latest trade deals —from the one-sided EU deal to politically charged moves against Brazil. Are the deals being structured to exclude China from global supply chains and are these tariffs just about trade, or something more? We explore how constant changes are disrupting business activity, whether manufacturing is really coming back to the U.S., and what history tells us about protectionism’s impact on innovation and productivity.

Unhedged Podcast Link: https://podcasts.apple.com/us/podcast/the-eu-folds-on-tariffs/id1691284824?i=1000719679953

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2121 no Prediction Markets Are a Scam With a Chart Level up your note-taking with Plaud NotePro at https://bit.ly/4c9s3bC and use code “PBOYLE” for 10% OFF!Amazon: https://bit.ly/483LfoU#PLAUD #NoteTakerPrediction markets like Kalshi and Polymarket have been described as "truth machines" that produce more accurate forecasts than traditional polling. In this video we look at how they actually work, why the federal government is fighting individual states over who gets to regulate a bet on a football game, how a soldier allegedly used classified military intelligence to win money on a crypto betting site, and why quantitative trading firms are now paying traders $200,000 a year to build algorithms that systematically take money from retail bettors. We also look at the political connections behind these platforms, the academic research on the social cost of making it very easy to gamble from your phone, and why — after all of this — you still can't trade futures on onions.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 20:56:15 -0000 full Patrick Boyle Level up your note-taking with Plaud NotePro at https://bit.ly/4c9s3bC and use code “PBOYLE” for 10% OFF!Amazon: https://bit.ly/483LfoU#PLAUD #NoteTakerPrediction markets like Kalshi and Polymarket have been described as "truth machines" that produce more accurate forecasts than traditional polling. In this video we look at how they actually work, why the federal government is fighting individual states over who gets to regulate a bet on a football game, how a soldier allegedly used classified military intelligence to win money on a crypto betting site, and why quantitative trading firms are now paying traders $200,000 a year to build algorithms that systematically take money from retail bettors. We also look at the political connections behind these platforms, the academic research on the social cost of making it very easy to gamble from your phone, and why — after all of this — you still can't trade futures on onions.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Level up your note-taking with Plaud NotePro at https://bit.ly/4c9s3bC and use code “PBOYLE” for 10% OFF!
Amazon: https://bit.ly/483LfoU
#PLAUD #NoteTaker

Prediction markets like Kalshi and Polymarket have been described as "truth machines" that produce more accurate forecasts than traditional polling. In this video we look at how they actually work, why the federal government is fighting individual states over who gets to regulate a bet on a football game, how a soldier allegedly used classified military intelligence to win money on a crypto betting site, and why quantitative trading firms are now paying traders $200,000 a year to build algorithms that systematically take money from retail bettors. We also look at the political connections behind these platforms, the academic research on the social cost of making it very easy to gamble from your phone, and why — after all of this — you still can't trade futures on onions.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2355 no The Mortgage Divide: Why America’s Housing Market Is Splitting in Two! Ad: 🔒Remove your personal information from the web at https://joindeleteme.com/BOYLE and use code BOYLE for 20% offWhy are some homeowners thriving while others are struggling to keep up? In this video, we explore how America’s housing market has fractured—creating a sharp divide between those who locked in low mortgage rates and those buying today at much higher costs.We’ll unpack:The lock-in effect and its impact on geographic mobilityWhy millennials face deeper inequality within their own generationHow renters are absorbing the full brunt of housing inflationThe role of tariffs, interest rates, and investor behaviorInternational comparisons with the UK and ChinaWhy your mortgage might be the most important financial instrument you ownFrom sticky inflation to shifting migration patterns, this is the story of how housing finance is reshaping the American economy—and the lives of millions.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 20:56:15 -0000 full Patrick Boyle Ad: 🔒Remove your personal information from the web at https://joindeleteme.com/BOYLE and use code BOYLE for 20% offWhy are some homeowners thriving while others are struggling to keep up? In this video, we explore how America’s housing market has fractured—creating a sharp divide between those who locked in low mortgage rates and those buying today at much higher costs.We’ll unpack:The lock-in effect and its impact on geographic mobilityWhy millennials face deeper inequality within their own generationHow renters are absorbing the full brunt of housing inflationThe role of tariffs, interest rates, and investor behaviorInternational comparisons with the UK and ChinaWhy your mortgage might be the most important financial instrument you ownFrom sticky inflation to shifting migration patterns, this is the story of how housing finance is reshaping the American economy—and the lives of millions.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Ad: 🔒Remove your personal information from the web at https://joindeleteme.com/BOYLE and use code BOYLE for 20% off

Why are some homeowners thriving while others are struggling to keep up? In this video, we explore how America’s housing market has fractured—creating a sharp divide between those who locked in low mortgage rates and those buying today at much higher costs.

We’ll unpack:

The lock-in effect and its impact on geographic mobility
Why millennials face deeper inequality within their own generation
How renters are absorbing the full brunt of housing inflation
The role of tariffs, interest rates, and investor behavior
International comparisons with the UK and China
Why your mortgage might be the most important financial instrument you own
From sticky inflation to shifting migration patterns, this is the story of how housing finance is reshaping the American economy—and the lives of millions.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
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Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 1715 no The South Sea Bubble - The First Financial Crash Try Rocket Money for free: https://RocketMoney.com/Patrick #rocketmoney #personalfinance 1720 was a year of two bubbles and a plague. The bubbles were the Mississippi Company in France –and the South Sea Bubble in England. In September 1720 - when the bubble burst, England was plunged into an economic and political crisis. This was one of the first examples of a financial boom and bust and was the event that gave rise to the use of the term bubble to describe a spectacular market failure.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialSources:Money For Nothing by Arthur Levinson: https://amzn.to/3PUbbcVThe King, the Crook, and the Gambler by Malcolm Balen: https://amzn.to/3CFq7bMThe Life of Isaac Newton by Richard Westfall: https://amzn.to/4hfXbWUManias Panics & Crashes - Kindelberger: https://amzn.to/40xOrnXBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 20:27:30 -0000 full Patrick Boyle Try Rocket Money for free: https://RocketMoney.com/Patrick #rocketmoney #personalfinance 1720 was a year of two bubbles and a plague. The bubbles were the Mississippi Company in France –and the South Sea Bubble in England. In September 1720 - when the bubble burst, England was plunged into an economic and political crisis. This was one of the first examples of a financial boom and bust and was the event that gave rise to the use of the term bubble to describe a spectacular market failure.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialSources:Money For Nothing by Arthur Levinson: https://amzn.to/3PUbbcVThe King, the Crook, and the Gambler by Malcolm Balen: https://amzn.to/3CFq7bMThe Life of Isaac Newton by Richard Westfall: https://amzn.to/4hfXbWUManias Panics & Crashes - Kindelberger: https://amzn.to/40xOrnXBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Try Rocket Money for free: https://RocketMoney.com/Patrick #rocketmoney #personalfinance

1720 was a year of two bubbles and a plague. The bubbles were the Mississippi Company in France –and the South Sea Bubble in England. In September 1720 - when the bubble burst, England was plunged into an economic and political crisis. This was one of the first examples of a financial boom and bust and was the event that gave rise to the use of the term bubble to describe a spectacular market failure.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Sources:
Money For Nothing by Arthur Levinson: https://amzn.to/3PUbbcV
The King, the Crook, and the Gambler by Malcolm Balen: https://amzn.to/3CFq7bM
The Life of Isaac Newton by Richard Westfall: https://amzn.to/4hfXbWU
Manias Panics & Crashes - Kindelberger: https://amzn.to/40xOrnX

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 3098 no The Volatility Surface and Exotics - Revision Lecture These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 20:27:30 -0000 full Patrick Boyle These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 3596 no Volatility Arbitrage - How does it work? - Options Trading Lessons What is Volatility Arbitrage?Volatility arbitrage is a trading strategy that attempts to profit from the difference between the forecasted price-volatility of an asset, like a stock, and the implied volatility of options on that asset.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleHow does Volatility Arbitrage Work?The price of an option is driven by the volatility of the underlying asset. If the forecasted and implied volatilities differ, there will be a discrepancy between the expected price of the option and its actual market price.A volatility arbitrage strategy can be implemented through a delta-neutral portfolio consisting of an option and its underlying asset. For example, if a trader thought a stock option was underpriced because implied volatility was too low, they may buy a call option and combine that with a short position in the underlying stock to profit from that forecast. If the price of the stock doesn't move, but the implied volatility used to price that option rises, then the price of the option will rise. Even if this does not get recognized by the market, but the stock realizes higher volatility than was implied in the initial price, the trading strategy explained in the video will generate a profit for the trader.Alternatively, if the trader believes that implied volatility is too high and will fall, then they may decide to take a long position in the stock and a short position in a put option. Assuming the stock's price doesn't move, the trader may profit as the option falls in value with a decline in implied volatility.There are several assumptions a trader must make, which will increase the complexity of a volatility arbitrage strategy. First, the investor must be right about whether implied volatility really is over- or underpriced. Second, the investor must be correct about the amount of time it will take for the strategy to profit or time value erosion could outpace any potential gains. Finally, if the price of the underlying stock moves more quickly than expected the strategy will have to be adjusted, which may be expensive or impossible depending on market conditions. Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 19:58:45 -0000 full Patrick Boyle What is Volatility Arbitrage?Volatility arbitrage is a trading strategy that attempts to profit from the difference between the forecasted price-volatility of an asset, like a stock, and the implied volatility of options on that asset.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleHow does Volatility Arbitrage Work?The price of an option is driven by the volatility of the underlying asset. If the forecasted and implied volatilities differ, there will be a discrepancy between the expected price of the option and its actual market price.A volatility arbitrage strategy can be implemented through a delta-neutral portfolio consisting of an option and its underlying asset. For example, if a trader thought a stock option was underpriced because implied volatility was too low, they may buy a call option and combine that with a short position in the underlying stock to profit from that forecast. If the price of the stock doesn't move, but the implied volatility used to price that option rises, then the price of the option will rise. Even if this does not get recognized by the market, but the stock realizes higher volatility than was implied in the initial price, the trading strategy explained in the video will generate a profit for the trader.Alternatively, if the trader believes that implied volatility is too high and will fall, then they may decide to take a long position in the stock and a short position in a put option. Assuming the stock's price doesn't move, the trader may profit as the option falls in value with a decline in implied volatility.There are several assumptions a trader must make, which will increase the complexity of a volatility arbitrage strategy. First, the investor must be right about whether implied volatility really is over- or underpriced. Second, the investor must be correct about the amount of time it will take for the strategy to profit or time value erosion could outpace any potential gains. Finally, if the price of the underlying stock moves more quickly than expected the strategy will have to be adjusted, which may be expensive or impossible depending on market conditions. Learn more about your ad choices. Visit megaphone.fm/adchoices What is Volatility Arbitrage?

Volatility arbitrage is a trading strategy that attempts to profit from the difference between the forecasted price-volatility of an asset, like a stock, and the implied volatility of options on that asset.

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

How does Volatility Arbitrage Work?
The price of an option is driven by the volatility of the underlying asset. If the forecasted and implied volatilities differ, there will be a discrepancy between the expected price of the option and its actual market price.

A volatility arbitrage strategy can be implemented through a delta-neutral portfolio consisting of an option and its underlying asset. For example, if a trader thought a stock option was underpriced because implied volatility was too low, they may buy a call option and combine that with a short position in the underlying stock to profit from that forecast. If the price of the stock doesn't move, but the implied volatility used to price that option rises, then the price of the option will rise. Even if this does not get recognized by the market, but the stock realizes higher volatility than was implied in the initial price, the trading strategy explained in the video will generate a profit for the trader.

Alternatively, if the trader believes that implied volatility is too high and will fall, then they may decide to take a long position in the stock and a short position in a put option. Assuming the stock's price doesn't move, the trader may profit as the option falls in value with a decline in implied volatility.

There are several assumptions a trader must make, which will increase the complexity of a volatility arbitrage strategy. First, the investor must be right about whether implied volatility really is over- or underpriced. Second, the investor must be correct about the amount of time it will take for the strategy to profit or time value erosion could outpace any potential gains. Finally, if the price of the underlying stock moves more quickly than expected the strategy will have to be adjusted, which may be expensive or impossible depending on market conditions.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 1165 no Where is Venezuela’s oil money? If you’re looking to upgrade your business wardrobe, I can recommend giving Tailor Store a try. Their shirts are made to your measurements, so you can create something that fits both your body and your personal style. My viewers receive 25% off their first order through my link: https://www.tailorstore.com/patrickboyleWhen the United States took control of Venezuela's oil exports in early 2026, it collected an estimated $13 billion in crude sales — but the official ledger in Caracas records almost none of it, and six months on there is still no public accounting of where the money went. In this video we look at what happened to Venezuela's sovereign wealth: the missing oil revenues now sitting in an offshore account in Qatar, the four billion dollars of Venezuelan gold frozen in the vaults of the Bank of England that no one can legally claim, and the court-ordered auction that handed Citgo's parent company to an affiliate of Paul Singer's Elliott Management for nearly $6 billion. Along the way we explain the legal machinery that makes all of this possible — the alter ego doctrine, sovereign immunity and the Bancec ruling, the Terrorism Risk Insurance Act, and the "one voice" principle in English law — and the broader lesson for anyone trying to understand sovereign assets: a nation's wealth held abroad is only yours for as long as someone else's courts, banks and vaults agree that it is. We also cover the aftermath of the June earthquakes, the international relief effort, and why the question of who legitimately governs Venezuela sits at the centre of every one of these disputes.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 19:58:45 -0000 full Patrick Boyle If you’re looking to upgrade your business wardrobe, I can recommend giving Tailor Store a try. Their shirts are made to your measurements, so you can create something that fits both your body and your personal style. My viewers receive 25% off their first order through my link: https://www.tailorstore.com/patrickboyleWhen the United States took control of Venezuela's oil exports in early 2026, it collected an estimated $13 billion in crude sales — but the official ledger in Caracas records almost none of it, and six months on there is still no public accounting of where the money went. In this video we look at what happened to Venezuela's sovereign wealth: the missing oil revenues now sitting in an offshore account in Qatar, the four billion dollars of Venezuelan gold frozen in the vaults of the Bank of England that no one can legally claim, and the court-ordered auction that handed Citgo's parent company to an affiliate of Paul Singer's Elliott Management for nearly $6 billion. Along the way we explain the legal machinery that makes all of this possible — the alter ego doctrine, sovereign immunity and the Bancec ruling, the Terrorism Risk Insurance Act, and the "one voice" principle in English law — and the broader lesson for anyone trying to understand sovereign assets: a nation's wealth held abroad is only yours for as long as someone else's courts, banks and vaults agree that it is. We also cover the aftermath of the June earthquakes, the international relief effort, and why the question of who legitimately governs Venezuela sits at the centre of every one of these disputes.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices If you’re looking to upgrade your business wardrobe, I can recommend giving Tailor Store a try. Their shirts are made to your measurements, so you can create something that fits both your body and your personal style. My viewers receive 25% off their first order through my link: https://www.tailorstore.com/patrickboyle

When the United States took control of Venezuela's oil exports in early 2026, it collected an estimated $13 billion in crude sales — but the official ledger in Caracas records almost none of it, and six months on there is still no public accounting of where the money went. In this video we look at what happened to Venezuela's sovereign wealth: the missing oil revenues now sitting in an offshore account in Qatar, the four billion dollars of Venezuelan gold frozen in the vaults of the Bank of England that no one can legally claim, and the court-ordered auction that handed Citgo's parent company to an affiliate of Paul Singer's Elliott Management for nearly $6 billion. Along the way we explain the legal machinery that makes all of this possible — the alter ego doctrine, sovereign immunity and the Bancec ruling, the Terrorism Risk Insurance Act, and the "one voice" principle in English law — and the broader lesson for anyone trying to understand sovereign assets: a nation's wealth held abroad is only yours for as long as someone else's courts, banks and vaults agree that it is. We also cover the aftermath of the June earthquakes, the international relief effort, and why the question of who legitimately governs Venezuela sits at the centre of every one of these disputes.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2864 no Elon Musk's Anti Woke Encyclopedia Go to ➞ https://surfshark.com/boyle or use code BOYLE at checkout to get 4 extra months of Surfshark VPN!Elon Musk says his new online encyclopedia Grokipedia will fix Wikipedia’s flaws by replacing human editors with AI. But can a chatbot really deliver “the whole truth and nothing but the truth” as he says? In this video, we dive into the battle between Wikipedia’s messy, transparent consensus and Grokipedia’s algorithmic certainty.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 19:30:00 -0000 full Patrick Boyle Go to ➞ https://surfshark.com/boyle or use code BOYLE at checkout to get 4 extra months of Surfshark VPN!Elon Musk says his new online encyclopedia Grokipedia will fix Wikipedia’s flaws by replacing human editors with AI. But can a chatbot really deliver “the whole truth and nothing but the truth” as he says? In this video, we dive into the battle between Wikipedia’s messy, transparent consensus and Grokipedia’s algorithmic certainty.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Go to ➞ https://surfshark.com/boyle or use code BOYLE at checkout to get 4 extra months of Surfshark VPN!

Elon Musk says his new online encyclopedia Grokipedia will fix Wikipedia’s flaws by replacing human editors with AI. But can a chatbot really deliver “the whole truth and nothing but the truth” as he says? In this video, we dive into the battle between Wikipedia’s messy, transparent consensus and Grokipedia’s algorithmic certainty.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2416 no What are Structured Products? Today we will learn what structured products are.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoylePatreon Page: https://www.patreon.com/PatrickBoyleOnFinanceA structured product, also known as a market-linked investment, is a pre-packaged investment strategy based on a single security, a basket of securities, options, indices, commodities, debt issuance or foreign currencies, and to a lesser extent, derivatives. The variety of products just described demonstrates that there is no single, uniform definition of a structured product. A feature of some structured products is a "principal guarantee" function, which offers protection of principal if held to maturity. For example, an investor invests $100, the issuer simply invests in a risk-free bond that has sufficient interest to grow to $100 after the five-year period. This bond might cost $80 today and after five years it will grow to $100. With the leftover funds the issuer purchases the derivatives needed to perform whatever the investment strategy calls for. Theoretically an investor can just do this themselves, but the cost and transaction volume requirements of many derivatives are beyond many individual investors.Structured products are designed to facilitate highly customized risk-return objectives. This is accomplished by taking a traditional security, such as a conventional investment-grade bond, and replacing the usual payment features (e.g. periodic coupons and final principal) with non-traditional payoffs derived not from the issuer's own cash flow, but from the performance of one or more underlying assets.Structured products were created to meet specific needs that cannot be met from the standardized financial instruments available in the markets. Structured products can be used as an alternative to a direct investment, as part of the asset allocation process to reduce risk exposure of a portfolio, or to utilize the current market trend. Structured products originally became popular in Europe and are a much smaller market in the United States, where they are offered as SEC-registered products, which means they are accessible to retail investors in the same way as stocks, bonds, exchange traded funds (ETFs) and mutual funds. Their ability to offer customized exposure to otherwise hard-to-reach asset classes and subclasses makes structured products useful as a complement to traditional components of diversified portfolios.U.S. Securities and Exchange Commission (SEC) Rule 434 (regarding certain prospectus deliveries) defines structured securities as "securities whose cash flow characteristics depend upon one or more indices or that have embedded forwards or options or securities where an investor's investment return and the issuer's payment obligations are contingent on, or highly sensitive to, changes in the value of underlying assets, indices, interest rates or cash flows". Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 19:30:00 -0000 full Patrick Boyle Today we will learn what structured products are.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoylePatreon Page: https://www.patreon.com/PatrickBoyleOnFinanceA structured product, also known as a market-linked investment, is a pre-packaged investment strategy based on a single security, a basket of securities, options, indices, commodities, debt issuance or foreign currencies, and to a lesser extent, derivatives. The variety of products just described demonstrates that there is no single, uniform definition of a structured product. A feature of some structured products is a "principal guarantee" function, which offers protection of principal if held to maturity. For example, an investor invests $100, the issuer simply invests in a risk-free bond that has sufficient interest to grow to $100 after the five-year period. This bond might cost $80 today and after five years it will grow to $100. With the leftover funds the issuer purchases the derivatives needed to perform whatever the investment strategy calls for. Theoretically an investor can just do this themselves, but the cost and transaction volume requirements of many derivatives are beyond many individual investors.Structured products are designed to facilitate highly customized risk-return objectives. This is accomplished by taking a traditional security, such as a conventional investment-grade bond, and replacing the usual payment features (e.g. periodic coupons and final principal) with non-traditional payoffs derived not from the issuer's own cash flow, but from the performance of one or more underlying assets.Structured products were created to meet specific needs that cannot be met from the standardized financial instruments available in the markets. Structured products can be used as an alternative to a direct investment, as part of the asset allocation process to reduce risk exposure of a portfolio, or to utilize the current market trend. Structured products originally became popular in Europe and are a much smaller market in the United States, where they are offered as SEC-registered products, which means they are accessible to retail investors in the same way as stocks, bonds, exchange traded funds (ETFs) and mutual funds. Their ability to offer customized exposure to otherwise hard-to-reach asset classes and subclasses makes structured products useful as a complement to traditional components of diversified portfolios.U.S. Securities and Exchange Commission (SEC) Rule 434 (regarding certain prospectus deliveries) defines structured securities as "securities whose cash flow characteristics depend upon one or more indices or that have embedded forwards or options or securities where an investor's investment return and the issuer's payment obligations are contingent on, or highly sensitive to, changes in the value of underlying assets, indices, interest rates or cash flows". Learn more about your ad choices. Visit megaphone.fm/adchoices Today we will learn what structured products are.

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance

A structured product, also known as a market-linked investment, is a pre-packaged investment strategy based on a single security, a basket of securities, options, indices, commodities, debt issuance or foreign currencies, and to a lesser extent, derivatives. The variety of products just described demonstrates that there is no single, uniform definition of a structured product. A feature of some structured products is a "principal guarantee" function, which offers protection of principal if held to maturity. For example, an investor invests $100, the issuer simply invests in a risk-free bond that has sufficient interest to grow to $100 after the five-year period. This bond might cost $80 today and after five years it will grow to $100. With the leftover funds the issuer purchases the derivatives needed to perform whatever the investment strategy calls for. Theoretically an investor can just do this themselves, but the cost and transaction volume requirements of many derivatives are beyond many individual investors.

Structured products are designed to facilitate highly customized risk-return objectives. This is accomplished by taking a traditional security, such as a conventional investment-grade bond, and replacing the usual payment features (e.g. periodic coupons and final principal) with non-traditional payoffs derived not from the issuer's own cash flow, but from the performance of one or more underlying assets.

Structured products were created to meet specific needs that cannot be met from the standardized financial instruments available in the markets. Structured products can be used as an alternative to a direct investment, as part of the asset allocation process to reduce risk exposure of a portfolio, or to utilize the current market trend.

Structured products originally became popular in Europe and are a much smaller market in the United States, where they are offered as SEC-registered products, which means they are accessible to retail investors in the same way as stocks, bonds, exchange traded funds (ETFs) and mutual funds. Their ability to offer customized exposure to otherwise hard-to-reach asset classes and subclasses makes structured products useful as a complement to traditional components of diversified portfolios.

U.S. Securities and Exchange Commission (SEC) Rule 434 (regarding certain prospectus deliveries) defines structured securities as "securities whose cash flow characteristics depend upon one or more indices or that have embedded forwards or options or securities where an investor's investment return and the issuer's payment obligations are contingent on, or highly sensitive to, changes in the value of underlying assets, indices, interest rates or cash flows".

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]]> 1028 no Pricing Options Using the Binomial Tree (Risk Neutral Valuation Approach) These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleIn finance, the binomial options pricing model provides a generalizable numerical method for the valuation of options. The binomial model was first proposed by Cox, Ross and Rubinstein in 1979, six years after the Black Scholes model. Essentially, the model uses a "discrete-time" (lattice based) model of the varying price over time of the underlying financial instrument.The Binomial options pricing model approach has been widely used since it is able to handle a variety of conditions for which other models cannot easily be applied. This is largely because the model is based on a description of an underlying instrument over a period of time rather than a single point in time. As a consequence, it is used to value American options that are exercisable at any time in a given interval as well as Bermudan options that are exercisable at specific instances of time. Being relatively simple, the model is readily implementable in computer software or even in spreadsheets like Excel. Although computationally slower than the Black–Scholes formula, it is more accurate, particularly for longer-dated options on securities with dividend payments. For these reasons, various versions of the binomial model are widely used by practitioners in the options markets.The Risk-Neutral Binomial Tree ApproachThe concept of a portfolio made up of some portion of stock and some portion of a derivative on that stock gives rise to the ability to generate equivalent cash flows at end nodes of binomial trees, and this certainty of cash flows allows us to discount the cash flows at the risk-free rate. The ability to discount cash flows in the future at a known risk-free rate gives us the concept of risk-neutral valuation. Risk neutral valuation is a powerful concept in derivatives pricing which enables valuation of assets based on their expected payoffs at different points in time and with different scenarios of underlying asset price movements. Risk-neutral valuation is applicable whenever you can create a portfolio including the underlying plus a derivative on the same underlying. It cannot be extrapolated to find the value of derivatives on other underlyings. It relies on the portfolio instruments having a level of dependency on one another.This model is very flexible and powerful because we don’t need to know the real probability of the upside scenario, or the real likelihood of the downside economic scenario—it is not required to maintain our certainty of cash flows at the end point. An easy mistake to make is to confuse this constructed probability distribution with real-world probability. They will be different, but the method of risk-neutral pricing is, like many other useful computational tools, convenient and powerful. The approach of risk-neutral valuation makes sense for valuation purposes but only works when all of the instruments included in the valuation model depend on the same underlying and thus are exposed to the same risks, though held in different proportions. We are pricing the option in terms of the underlying stock, thus risk preferences are taken into account in the pricing of the underlying. The risk-neutral binomial tree approach is mathematically equivalent to the portfolio approach previously covered, and gives us the exact same valuation. The risk neutral binomial tree valuation approach to value the derivative, f, is as follows.With some algebra, you can show that the risk-neutral formula is mathematically equivalent to the portfolio approach where  of shares is calculated to generate riskless outcomes at maturity, T.Although we are not making any assumptio Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 18:01:15 -0000 full Patrick Boyle These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleIn finance, the binomial options pricing model provides a generalizable numerical method for the valuation of options. The binomial model was first proposed by Cox, Ross and Rubinstein in 1979, six years after the Black Scholes model. Essentially, the model uses a "discrete-time" (lattice based) model of the varying price over time of the underlying financial instrument.The Binomial options pricing model approach has been widely used since it is able to handle a variety of conditions for which other models cannot easily be applied. This is largely because the model is based on a description of an underlying instrument over a period of time rather than a single point in time. As a consequence, it is used to value American options that are exercisable at any time in a given interval as well as Bermudan options that are exercisable at specific instances of time. Being relatively simple, the model is readily implementable in computer software or even in spreadsheets like Excel. Although computationally slower than the Black–Scholes formula, it is more accurate, particularly for longer-dated options on securities with dividend payments. For these reasons, various versions of the binomial model are widely used by practitioners in the options markets.The Risk-Neutral Binomial Tree ApproachThe concept of a portfolio made up of some portion of stock and some portion of a derivative on that stock gives rise to the ability to generate equivalent cash flows at end nodes of binomial trees, and this certainty of cash flows allows us to discount the cash flows at the risk-free rate. The ability to discount cash flows in the future at a known risk-free rate gives us the concept of risk-neutral valuation. Risk neutral valuation is a powerful concept in derivatives pricing which enables valuation of assets based on their expected payoffs at different points in time and with different scenarios of underlying asset price movements. Risk-neutral valuation is applicable whenever you can create a portfolio including the underlying plus a derivative on the same underlying. It cannot be extrapolated to find the value of derivatives on other underlyings. It relies on the portfolio instruments having a level of dependency on one another.This model is very flexible and powerful because we don’t need to know the real probability of the upside scenario, or the real likelihood of the downside economic scenario—it is not required to maintain our certainty of cash flows at the end point. An easy mistake to make is to confuse this constructed probability distribution with real-world probability. They will be different, but the method of risk-neutral pricing is, like many other useful computational tools, convenient and powerful. The approach of risk-neutral valuation makes sense for valuation purposes but only works when all of the instruments included in the valuation model depend on the same underlying and thus are exposed to the same risks, though held in different proportions. We are pricing the option in terms of the underlying stock, thus risk preferences are taken into account in the pricing of the underlying. The risk-neutral binomial tree approach is mathematically equivalent to the portfolio approach previously covered, and gives us the exact same valuation. The risk neutral binomial tree valuation approach to value the derivative, f, is as follows.With some algebra, you can show that the risk-neutral formula is mathematically equivalent to the portfolio approach where  of shares is calculated to generate riskless outcomes at maturity, T.Although we are not making any assumptio Learn more about your ad choices. Visit megaphone.fm/adchoices These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

In finance, the binomial options pricing model provides a generalizable numerical method for the valuation of options. The binomial model was first proposed by Cox, Ross and Rubinstein in 1979, six years after the Black Scholes model. Essentially, the model uses a "discrete-time" (lattice based) model of the varying price over time of the underlying financial instrument.

The Binomial options pricing model approach has been widely used since it is able to handle a variety of conditions for which other models cannot easily be applied. This is largely because the model is based on a description of an underlying instrument over a period of time rather than a single point in time. As a consequence, it is used to value American options that are exercisable at any time in a given interval as well as Bermudan options that are exercisable at specific instances of time. Being relatively simple, the model is readily implementable in computer software or even in spreadsheets like Excel.

Although computationally slower than the Black–Scholes formula, it is more accurate, particularly for longer-dated options on securities with dividend payments. For these reasons, various versions of the binomial model are widely used by practitioners in the options markets.

The Risk-Neutral Binomial Tree Approach
The concept of a portfolio made up of some portion of stock and some portion of a derivative on that stock gives rise to the ability to generate equivalent cash flows at end nodes of binomial trees, and this certainty of cash flows allows us to discount the cash flows at the risk-free rate. The ability to discount cash flows in the future at a known risk-free rate gives us the concept of risk-neutral valuation.

Risk neutral valuation is a powerful concept in derivatives pricing which enables valuation of assets based on their expected payoffs at different points in time and with different scenarios of underlying asset price movements.

Risk-neutral valuation is applicable whenever you can create a portfolio including the underlying plus a derivative on the same underlying. It cannot be extrapolated to find the value of derivatives on other underlyings. It relies on the portfolio instruments having a level of dependency on one another.
This model is very flexible and powerful because we don’t need to know the real probability of the upside scenario, or the real likelihood of the downside economic scenario—it is not required to maintain our certainty of cash flows at the end point.

An easy mistake to make is to confuse this constructed probability distribution with real-world probability. They will be different, but the method of risk-neutral pricing is, like many other useful computational tools, convenient and powerful. The approach of risk-neutral valuation makes sense for valuation purposes but only works when all of the instruments included in the valuation model depend on the same underlying and thus are exposed to the same risks, though held in different proportions. We are pricing the option in terms of the underlying stock, thus risk preferences are taken into account in the pricing of the underlying.

The risk-neutral binomial tree approach is mathematically equivalent to the portfolio approach previously covered, and gives us the exact same valuation. The risk neutral binomial tree valuation approach to value the derivative, f, is as follows.

With some algebra, you can show that the risk-neutral formula is mathematically equivalent to the portfolio approach where  of shares is calculated to generate riskless outcomes at maturity, T.

Although we are not making any assumptio

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]]> 845 no Applied Portfolio Management - Video 4 - Fixed Income Asset Management All slides are available on my Patreon page: https://www.patreon.com/PatrickBoyleOnFinanceFixed income refers to any type of investment under which the borrower or issuer is obliged to make payments of a fixed amount on a fixed schedule. For example, the borrower may have to pay interest at a fixed rate once a year, and to repay the principal amount on maturity. Fixed-income securities can be contrasted with equity securities – often referred to as stocks and shares – that create no obligation to pay dividends or any other form of income.Buy The Book Here: https://amzn.to/2J2kF3AVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleWhat Is Portfolio Management? Portfolio management is the art and science of selecting and overseeing a group of investments that meet the long-term financial objectives and risk tolerance of a client, a company, or an institution.Portfolio management requires the ability to weigh strengths and weaknesses, opportunities and threats across the full spectrum of investments. The choices involve trade-offs, from debt versus equity to domestic versus international and growth versus safety. Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 17:32:30 -0000 full Patrick Boyle All slides are available on my Patreon page: https://www.patreon.com/PatrickBoyleOnFinanceFixed income refers to any type of investment under which the borrower or issuer is obliged to make payments of a fixed amount on a fixed schedule. For example, the borrower may have to pay interest at a fixed rate once a year, and to repay the principal amount on maturity. Fixed-income securities can be contrasted with equity securities – often referred to as stocks and shares – that create no obligation to pay dividends or any other form of income.Buy The Book Here: https://amzn.to/2J2kF3AVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleWhat Is Portfolio Management? Portfolio management is the art and science of selecting and overseeing a group of investments that meet the long-term financial objectives and risk tolerance of a client, a company, or an institution.Portfolio management requires the ability to weigh strengths and weaknesses, opportunities and threats across the full spectrum of investments. The choices involve trade-offs, from debt versus equity to domestic versus international and growth versus safety. Learn more about your ad choices. Visit megaphone.fm/adchoices All slides are available on my Patreon page: https://www.patreon.com/PatrickBoyleOnFinance

Fixed income refers to any type of investment under which the borrower or issuer is obliged to make payments of a fixed amount on a fixed schedule. For example, the borrower may have to pay interest at a fixed rate once a year, and to repay the principal amount on maturity. Fixed-income securities can be contrasted with equity securities – often referred to as stocks and shares – that create no obligation to pay dividends or any other form of income.

Buy The Book Here: https://amzn.to/2J2kF3A
Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle


What Is Portfolio Management?
Portfolio management is the art and science of selecting and overseeing a group of investments that meet the long-term financial objectives and risk tolerance of a client, a company, or an institution.

Portfolio management requires the ability to weigh strengths and weaknesses, opportunities and threats across the full spectrum of investments. The choices involve trade-offs, from debt versus equity to domestic versus international and growth versus safety.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 4770 no How Does Options Margin Work? | Financial Derivatives | Options Trading Lessons These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is Option Margin? Option margin is the cash or securities an investor must deposit in their account as collateral before selling options. Only sellers of options have to post margin, buyers of options pay the entire premium upfront and that is the most that they can lose.Margin requirements are established by the Federal Reserve Board in Regulation T and varies based on the option.Option margin requirements are very complex and differ quite a bit from stocks or futures margin requirements. In the case of stocks and futures, margin is used as leverage to increase buying power, whereas option margin is used as collateral to secure a position.Minimum margin requirements for various types of underlying securities are established by FINRA and the options exchanges. Brokers may have very different margin requirements since they can add to the minimum requirements set by regulators. Some option strategies, such as covered calls and covered puts, have no margin requirement since the underlying stock is used as collateral. Traders must request options trading authorization when opening a new account. Often times, brokers will classify options trading clearance levels depending on the type of strategies employed. Buying options is typically a Level I clearance since it doesn't require margin, but selling naked options may require Level II clearances and a margin account. Level III and IV accounts often have lower margin requirements.Option margin requirements can have a significant impact on the profitability of a trade since it ties up capital. Complex strategies, such as strangles and straddles, may involve computing multiple margin requirements. Traders should determine the margin requirements for a trade before entering into it and make sure that they can meet those requirements if the market turns against them.How do you calculate option margin requirements? The easiest way to calculate option margin requirements is using the Chicago Board of Options Exchange (CBOE) Margin Calculator that provides exact margin requirements for specific trades. Traders can also see the minimum requirements in the CBOE's Margin Manual. Brokerage accounts may have similar tools available to provide an idea of the cost before entering into a trade. Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 17:27:16 -0000 full Patrick Boyle These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is Option Margin? Option margin is the cash or securities an investor must deposit in their account as collateral before selling options. Only sellers of options have to post margin, buyers of options pay the entire premium upfront and that is the most that they can lose.Margin requirements are established by the Federal Reserve Board in Regulation T and varies based on the option.Option margin requirements are very complex and differ quite a bit from stocks or futures margin requirements. In the case of stocks and futures, margin is used as leverage to increase buying power, whereas option margin is used as collateral to secure a position.Minimum margin requirements for various types of underlying securities are established by FINRA and the options exchanges. Brokers may have very different margin requirements since they can add to the minimum requirements set by regulators. Some option strategies, such as covered calls and covered puts, have no margin requirement since the underlying stock is used as collateral. Traders must request options trading authorization when opening a new account. Often times, brokers will classify options trading clearance levels depending on the type of strategies employed. Buying options is typically a Level I clearance since it doesn't require margin, but selling naked options may require Level II clearances and a margin account. Level III and IV accounts often have lower margin requirements.Option margin requirements can have a significant impact on the profitability of a trade since it ties up capital. Complex strategies, such as strangles and straddles, may involve computing multiple margin requirements. Traders should determine the margin requirements for a trade before entering into it and make sure that they can meet those requirements if the market turns against them.How do you calculate option margin requirements? The easiest way to calculate option margin requirements is using the Chicago Board of Options Exchange (CBOE) Margin Calculator that provides exact margin requirements for specific trades. Traders can also see the minimum requirements in the CBOE's Margin Manual. Brokerage accounts may have similar tools available to provide an idea of the cost before entering into a trade. Learn more about your ad choices. Visit megaphone.fm/adchoices These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

What is Option Margin?

Option margin is the cash or securities an investor must deposit in their account as collateral before selling options. Only sellers of options have to post margin, buyers of options pay the entire premium upfront and that is the most that they can lose.

Margin requirements are established by the Federal Reserve Board in Regulation T and varies based on the option.

Option margin requirements are very complex and differ quite a bit from stocks or futures margin requirements. In the case of stocks and futures, margin is used as leverage to increase buying power, whereas option margin is used as collateral to secure a position.

Minimum margin requirements for various types of underlying securities are established by FINRA and the options exchanges. Brokers may have very different margin requirements since they can add to the minimum requirements set by regulators. Some option strategies, such as covered calls and covered puts, have no margin requirement since the underlying stock is used as collateral.

Traders must request options trading authorization when opening a new account. Often times, brokers will classify options trading clearance levels depending on the type of strategies employed. Buying options is typically a Level I clearance since it doesn't require margin, but selling naked options may require Level II clearances and a margin account. Level III and IV accounts often have lower margin requirements.

Option margin requirements can have a significant impact on the profitability of a trade since it ties up capital. Complex strategies, such as strangles and straddles, may involve computing multiple margin requirements. Traders should determine the margin requirements for a trade before entering into it and make sure that they can meet those requirements if the market turns against them.

How do you calculate option margin requirements?
The easiest way to calculate option margin requirements is using the Chicago Board of Options Exchange (CBOE) Margin Calculator that provides exact margin requirements for specific trades. Traders can also see the minimum requirements in the CBOE's Margin Manual. Brokerage accounts may have similar tools available to provide an idea of the cost before entering into a trade.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 594 no Yotta Bank and The Problem with Fintech! Sign up for a 14-day free trial and enjoy all the amazing features MyHeritage has to offer → https://bit.ly/PatrickBoyleMarc Andreessen appeared on the Joe Rogan podcast this week arguing that the Consumer Financial Protection Bureau (CFPB) should be shut down as it debanks conservatives.In today's video we use the example of the finfluencer promoted fintech bank Yotta - look at its ties to another fintech - synapse to try to understand if the CFPB should be defunded or if savers need to be protected from fintech firms that are mostly unregulated.Subscribe to @PBoyleInterviews here: https://youtu.be/w7sWER7LJd8 Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/joinAdditional Reading:CNBC Article: https://www.cnbc.com/2024/11/22/synapse-bankruptcy-thousands-of-americans-see-their-savings-vanish.htmlHow Safe are Online Banks & Fintechs?: https://www.bloomberg.com/news/articles/2024-10-09/how-safe-is-your-money-really-in-online-banks-and-fintechsAndreessen-Backed Fintech's Meltdown Shows Bank Middlemen Risks: https://news.bloomberglaw.com/banking-law/andreessen-backed-fintechs-meltdown-shows-bank-middlemen-risksRob Copeland - How To Keep Your Money Safe: https://www.nytimes.com/2024/08/10/business/online-lending-banking-money-risks.html CFPB Debanking Press Release: https://www.consumerfinance.gov/about-us/newsroom/cfpb-finalizes-rule-on-federal-oversight-of-popular-digital-payment-apps-to-protect-personal-data-reduce-fraud-and-stop-illegal-debanking/a16z Investment list: https://a16z.com/investment-list/Joe Rogan - Marc Andreessen Interview: https://www.youtube.com/watch?v=ye8MOfxD5nU Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 17:03:45 -0000 full Patrick Boyle Sign up for a 14-day free trial and enjoy all the amazing features MyHeritage has to offer → https://bit.ly/PatrickBoyleMarc Andreessen appeared on the Joe Rogan podcast this week arguing that the Consumer Financial Protection Bureau (CFPB) should be shut down as it debanks conservatives.In today's video we use the example of the finfluencer promoted fintech bank Yotta - look at its ties to another fintech - synapse to try to understand if the CFPB should be defunded or if savers need to be protected from fintech firms that are mostly unregulated.Subscribe to @PBoyleInterviews here: https://youtu.be/w7sWER7LJd8 Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/joinAdditional Reading:CNBC Article: https://www.cnbc.com/2024/11/22/synapse-bankruptcy-thousands-of-americans-see-their-savings-vanish.htmlHow Safe are Online Banks & Fintechs?: https://www.bloomberg.com/news/articles/2024-10-09/how-safe-is-your-money-really-in-online-banks-and-fintechsAndreessen-Backed Fintech's Meltdown Shows Bank Middlemen Risks: https://news.bloomberglaw.com/banking-law/andreessen-backed-fintechs-meltdown-shows-bank-middlemen-risksRob Copeland - How To Keep Your Money Safe: https://www.nytimes.com/2024/08/10/business/online-lending-banking-money-risks.html CFPB Debanking Press Release: https://www.consumerfinance.gov/about-us/newsroom/cfpb-finalizes-rule-on-federal-oversight-of-popular-digital-payment-apps-to-protect-personal-data-reduce-fraud-and-stop-illegal-debanking/a16z Investment list: https://a16z.com/investment-list/Joe Rogan - Marc Andreessen Interview: https://www.youtube.com/watch?v=ye8MOfxD5nU Learn more about your ad choices. Visit megaphone.fm/adchoices Sign up for a 14-day free trial and enjoy all the amazing features MyHeritage has to offer → https://bit.ly/PatrickBoyle

Marc Andreessen appeared on the Joe Rogan podcast this week arguing that the Consumer Financial Protection Bureau (CFPB) should be shut down as it debanks conservatives.

In today's video we use the example of the finfluencer promoted fintech bank Yotta - look at its ties to another fintech - synapse to try to understand if the CFPB should be defunded or if savers need to be protected from fintech firms that are mostly unregulated.

Subscribe to @PBoyleInterviews here: https://youtu.be/w7sWER7LJd8

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Additional Reading:
CNBC Article: https://www.cnbc.com/2024/11/22/synapse-bankruptcy-thousands-of-americans-see-their-savings-vanish.html
How Safe are Online Banks & Fintechs?: https://www.bloomberg.com/news/articles/2024-10-09/how-safe-is-your-money-really-in-online-banks-and-fintechs
Andreessen-Backed Fintech's Meltdown Shows Bank Middlemen Risks: https://news.bloomberglaw.com/banking-law/andreessen-backed-fintechs-meltdown-shows-bank-middlemen-risks
Rob Copeland - How To Keep Your Money Safe: https://www.nytimes.com/2024/08/10/business/online-lending-banking-money-risks.html
CFPB Debanking Press Release: https://www.consumerfinance.gov/about-us/newsroom/cfpb-finalizes-rule-on-federal-oversight-of-popular-digital-payment-apps-to-protect-personal-data-reduce-fraud-and-stop-illegal-debanking/
a16z Investment list: https://a16z.com/investment-list/
Joe Rogan - Marc Andreessen Interview: https://www.youtube.com/watch?v=ye8MOfxD5nU

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]]> 1901 no Is AI Slop Killing the Internet? Tello Mobile offers flexible & affordable phone plans with prices up to $25/month! Check out Tello using my link → https://tello.com/?utm_source=partner&utm_medium=cpc&utm_campaign=PatrickBoyle&src=partner&mdm=cpc&cmg=PatrickBoyleAI chatbots are replacing search engines—and in the process, they’re gutting the economics of journalism, reviews, and the open internet. In this video, we explore how tools like ChatGPT, Claude, and Google’s AI Overviews are intercepting audiences, scraping content without compensation, and threatening the viability of independent news and trusted information. From collapsing traffic to lawsuits and poisoned training data, this is a story about what happens when the web’s information economy starts to eat itself.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Videos Mentioned:@BennJordan Poisonify: https://www.youtube.com/watch?v=xMYm2d9bmEABenn Jordan on AI Cameras: https://www.youtube.com/watch?v=Pp9MwZkHiMQAngela Collier on Vibe Physics: https://www.youtube.com/watch?v=TMoz3gSXBcYMy Video on Blitzscaling: https://www.youtube.com/watch?v=p7Lo0sZfdHEWays To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 16:35:00 -0000 full Patrick Boyle Tello Mobile offers flexible & affordable phone plans with prices up to $25/month! Check out Tello using my link → https://tello.com/?utm_source=partner&utm_medium=cpc&utm_campaign=PatrickBoyle&src=partner&mdm=cpc&cmg=PatrickBoyleAI chatbots are replacing search engines—and in the process, they’re gutting the economics of journalism, reviews, and the open internet. In this video, we explore how tools like ChatGPT, Claude, and Google’s AI Overviews are intercepting audiences, scraping content without compensation, and threatening the viability of independent news and trusted information. From collapsing traffic to lawsuits and poisoned training data, this is a story about what happens when the web’s information economy starts to eat itself.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Videos Mentioned:@BennJordan Poisonify: https://www.youtube.com/watch?v=xMYm2d9bmEABenn Jordan on AI Cameras: https://www.youtube.com/watch?v=Pp9MwZkHiMQAngela Collier on Vibe Physics: https://www.youtube.com/watch?v=TMoz3gSXBcYMy Video on Blitzscaling: https://www.youtube.com/watch?v=p7Lo0sZfdHEWays To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Tello Mobile offers flexible & affordable phone plans with prices up to $25/month! Check out Tello using my link → https://tello.com/?utm_source=partner&utm_medium=cpc&utm_campaign=PatrickBoyle&src=partner&mdm=cpc&cmg=PatrickBoyle

AI chatbots are replacing search engines—and in the process, they’re gutting the economics of journalism, reviews, and the open internet. In this video, we explore how tools like ChatGPT, Claude, and Google’s AI Overviews are intercepting audiences, scraping content without compensation, and threatening the viability of independent news and trusted information. From collapsing traffic to lawsuits and poisoned training data, this is a story about what happens when the web’s information economy starts to eat itself.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Videos Mentioned:
@BennJordan Poisonify: https://www.youtube.com/watch?v=xMYm2d9bmEA
Benn Jordan on AI Cameras: https://www.youtube.com/watch?v=Pp9MwZkHiMQ
Angela Collier on Vibe Physics: https://www.youtube.com/watch?v=TMoz3gSXBcY
My Video on Blitzscaling: https://www.youtube.com/watch?v=p7Lo0sZfdHE

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2044 no Brexit, 10 Years On: What It Actually Cost Britain Protect your privacy on the cellular level with Cape at https://cape.co/patrickboyle0626 Use code PATRICKBOYLE33 at checkout for 33% off your first 6 months.Ten years on from the 2016 Brexit referendum, the UK is about to appoint its seventh Prime Minister in a decade — so was Brexit worth it? In this video we break down the real economic impact of Brexit: how much it actually cost the UK economy, why the doom-laden Treasury forecasts and the Leave campaign's £350 million NHS bus were both wrong, and what the data really shows about GDP, trade, the City of London, and business investment. We dig into the goods-versus-services split, why the people who voted Leave were hit hardest while the metropolitan elites worked around it, the great post-Brexit immigration paradox and the "Boriswave," whether Britain is really "poorer than Mississippi," and why both Brexit and the new "Rejoin" campaign rely on the same magical thinking. Finally, we look at Brexit as a global turning point — the first crack in the post-Cold-War order — and ask why ten years of arguing about Europe distracted Britain from the domestic problems actually driving its economic stagnation. Featuring research from the NBER, the OBR, the Bank of England, The Economist, the Financial Times and The Atlantic.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 16:24:32 -0000 full Patrick Boyle Protect your privacy on the cellular level with Cape at https://cape.co/patrickboyle0626 Use code PATRICKBOYLE33 at checkout for 33% off your first 6 months.Ten years on from the 2016 Brexit referendum, the UK is about to appoint its seventh Prime Minister in a decade — so was Brexit worth it? In this video we break down the real economic impact of Brexit: how much it actually cost the UK economy, why the doom-laden Treasury forecasts and the Leave campaign's £350 million NHS bus were both wrong, and what the data really shows about GDP, trade, the City of London, and business investment. We dig into the goods-versus-services split, why the people who voted Leave were hit hardest while the metropolitan elites worked around it, the great post-Brexit immigration paradox and the "Boriswave," whether Britain is really "poorer than Mississippi," and why both Brexit and the new "Rejoin" campaign rely on the same magical thinking. Finally, we look at Brexit as a global turning point — the first crack in the post-Cold-War order — and ask why ten years of arguing about Europe distracted Britain from the domestic problems actually driving its economic stagnation. Featuring research from the NBER, the OBR, the Bank of England, The Economist, the Financial Times and The Atlantic.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Protect your privacy on the cellular level with Cape at https://cape.co/patrickboyle0626 Use code PATRICKBOYLE33 at checkout for 33% off your first 6 months.

Ten years on from the 2016 Brexit referendum, the UK is about to appoint its seventh Prime Minister in a decade — so was Brexit worth it? In this video we break down the real economic impact of Brexit: how much it actually cost the UK economy, why the doom-laden Treasury forecasts and the Leave campaign's £350 million NHS bus were both wrong, and what the data really shows about GDP, trade, the City of London, and business investment. We dig into the goods-versus-services split, why the people who voted Leave were hit hardest while the metropolitan elites worked around it, the great post-Brexit immigration paradox and the "Boriswave," whether Britain is really "poorer than Mississippi," and why both Brexit and the new "Rejoin" campaign rely on the same magical thinking. Finally, we look at Brexit as a global turning point — the first crack in the post-Cold-War order — and ask why ten years of arguing about Europe distracted Britain from the domestic problems actually driving its economic stagnation. Featuring research from the NBER, the OBR, the Bank of England, The Economist, the Financial Times and The Atlantic.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2840 no What is Rho in Options? The Options Greeks - Options Trading Tutorial These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is Rho in Options?Rho is the rate at which the price of a derivative changes relative to a change in the risk-free rate of interest. Rho measures the sensitivity of an option or options portfolio to a change in interest rate. Rho may also refer to the aggregated risk exposure to interest rate changes that exist for a book of several options positions.If an option or options portfolio has a rho of 1.0, then for every 1 percentage-point increase in interest rates, the value of the option (or portfolio) increases 1 percent. Options that are most sensitive to changes in interest rates are those that are at-the-money and with the longest time to expiration.Check out our playlist on the Options Greeks to see more on this topic. Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 16:06:15 -0000 full Patrick Boyle These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is Rho in Options?Rho is the rate at which the price of a derivative changes relative to a change in the risk-free rate of interest. Rho measures the sensitivity of an option or options portfolio to a change in interest rate. Rho may also refer to the aggregated risk exposure to interest rate changes that exist for a book of several options positions.If an option or options portfolio has a rho of 1.0, then for every 1 percentage-point increase in interest rates, the value of the option (or portfolio) increases 1 percent. Options that are most sensitive to changes in interest rates are those that are at-the-money and with the longest time to expiration.Check out our playlist on the Options Greeks to see more on this topic. Learn more about your ad choices. Visit megaphone.fm/adchoices These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

What is Rho in Options?
Rho is the rate at which the price of a derivative changes relative to a change in the risk-free rate of interest. Rho measures the sensitivity of an option or options portfolio to a change in interest rate. Rho may also refer to the aggregated risk exposure to interest rate changes that exist for a book of several options positions.

If an option or options portfolio has a rho of 1.0, then for every 1 percentage-point increase in interest rates, the value of the option (or portfolio) increases 1 percent. Options that are most sensitive to changes in interest rates are those that are at-the-money and with the longest time to expiration.

Check out our playlist on the Options Greeks to see more on this topic.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 477 no Delta Neutral Portfolios - The Options Greeks - Options Trading Tutorial Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 15:37:30 -0000 full Patrick Boyle Learn more about your ad choices. Visit megaphone.fm/adchoices

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 419 no Financial Futures Payoff Diagrams Financial Futures Payoff DiagramsIn This Video we look at the payoff diagrams of being long and short futures contracts and how this might differ from being long and short the underlying. We learn a bit about how an investor shorts a given underlying and why it might be more efficient to short a futures contract.In later videos we will learn about options payoff diagrams, in order to understand those diagrams it is important to understand what is being said in these much simpler diagrams.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleA futures contract is a standardized contract between two parties, to trade an asset at a specified price at a specified future date. The seller will deliver the underlying and the buyer will take delivery of the underlying and pay the agreed-upon price. The price that is agreed on is known as the future price or the delivery price and is determined when the contract is entered into. Since the price of the future is dependent on the price of the asset, this is a derivative instrument.A futures contract is very similar to a forward contract. However, the futures market evolved to reduce the illiquidity and counter-party risk of forward contracts. A clearing house acts as the middleman, which performs the trade with both the buyer and seller. Clearinghouses overcome the potential credit risk by requiring the participants to put up an initial amount of cash, known as the initial margin. Futures positions are marked to market, and if there are insufficient funds, the exchange will require an additional maintenance margin, or is allowed to immediately liquidate the position. Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 15:21:49 -0000 full Patrick Boyle Financial Futures Payoff DiagramsIn This Video we look at the payoff diagrams of being long and short futures contracts and how this might differ from being long and short the underlying. We learn a bit about how an investor shorts a given underlying and why it might be more efficient to short a futures contract.In later videos we will learn about options payoff diagrams, in order to understand those diagrams it is important to understand what is being said in these much simpler diagrams.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleA futures contract is a standardized contract between two parties, to trade an asset at a specified price at a specified future date. The seller will deliver the underlying and the buyer will take delivery of the underlying and pay the agreed-upon price. The price that is agreed on is known as the future price or the delivery price and is determined when the contract is entered into. Since the price of the future is dependent on the price of the asset, this is a derivative instrument.A futures contract is very similar to a forward contract. However, the futures market evolved to reduce the illiquidity and counter-party risk of forward contracts. A clearing house acts as the middleman, which performs the trade with both the buyer and seller. Clearinghouses overcome the potential credit risk by requiring the participants to put up an initial amount of cash, known as the initial margin. Futures positions are marked to market, and if there are insufficient funds, the exchange will require an additional maintenance margin, or is allowed to immediately liquidate the position. Learn more about your ad choices. Visit megaphone.fm/adchoices Financial Futures Payoff Diagrams
In This Video we look at the payoff diagrams of being long and short futures contracts and how this might differ from being long and short the underlying. We learn a bit about how an investor shorts a given underlying and why it might be more efficient to short a futures contract.

In later videos we will learn about options payoff diagrams, in order to understand those diagrams it is important to understand what is being said in these much simpler diagrams.

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

A futures contract is a standardized contract between two parties, to trade an asset at a specified price at a specified future date. The seller will deliver the underlying and the buyer will take delivery of the underlying and pay the agreed-upon price. The price that is agreed on is known as the future price or the delivery price and is determined when the contract is entered into. Since the price of the future is dependent on the price of the asset, this is a derivative instrument.

A futures contract is very similar to a forward contract. However, the futures market evolved to reduce the illiquidity and counter-party risk of forward contracts. A clearing house acts as the middleman, which performs the trade with both the buyer and seller. Clearinghouses overcome the potential credit risk by requiring the participants to put up an initial amount of cash, known as the initial margin. Futures positions are marked to market, and if there are insufficient funds, the exchange will require an additional maintenance margin, or is allowed to immediately liquidate the position.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 613 no The Epstein Files are Worse Than You Think! Get a complete picture of the news on your phone or tablet by downloading the Straight Arrow News app.Go to https://www.san.com/pboyle to check it out. When you visit, you not only support me, but you also take advantage of a better way to get the news. Welcome back to trustworthy journalism.The first two batches of the Epstein files have finally been released, and the revelations are explosive. For decades, the media and the justice system ignored the most basic question: Who helped him? Now, thanks to thousands of pages of newly released DOJ documents, we know that there were the co-conspirators. In this video, we look through the latest evidence to expose the network of co-conspirators and high-powered enablers who made Jeffrey Epstein’s crimes possible. We go beyond the headlines to reveal the specific individuals—from Ghislaine Maxwell to banking titans like Jes Staley—who were far closer to Epstein’s operation than they ever admitted.We break down the bombshell New York Times investigation that dismantles the myth of Epstein's "financial genius" and uncover the bipartisan cover-up that kept these files buried for 40 years. From Donald Trump’s newly revealed flight logs to Bill Clinton’s White House connections, we show how a "two-tier" justice system worked to protect the powerful at the expense of the truth.@nytimes article: https://www.nytimes.com/2025/12/16/magazine/jeffrey-epstein-money-scams-investigation.htmlPatrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 15:08:45 -0000 full Patrick Boyle Get a complete picture of the news on your phone or tablet by downloading the Straight Arrow News app.Go to https://www.san.com/pboyle to check it out. When you visit, you not only support me, but you also take advantage of a better way to get the news. Welcome back to trustworthy journalism.The first two batches of the Epstein files have finally been released, and the revelations are explosive. For decades, the media and the justice system ignored the most basic question: Who helped him? Now, thanks to thousands of pages of newly released DOJ documents, we know that there were the co-conspirators. In this video, we look through the latest evidence to expose the network of co-conspirators and high-powered enablers who made Jeffrey Epstein’s crimes possible. We go beyond the headlines to reveal the specific individuals—from Ghislaine Maxwell to banking titans like Jes Staley—who were far closer to Epstein’s operation than they ever admitted.We break down the bombshell New York Times investigation that dismantles the myth of Epstein's "financial genius" and uncover the bipartisan cover-up that kept these files buried for 40 years. From Donald Trump’s newly revealed flight logs to Bill Clinton’s White House connections, we show how a "two-tier" justice system worked to protect the powerful at the expense of the truth.@nytimes article: https://www.nytimes.com/2025/12/16/magazine/jeffrey-epstein-money-scams-investigation.htmlPatrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Get a complete picture of the news on your phone or tablet by downloading the Straight Arrow News app.
Go to https://www.san.com/pboyle to check it out. When you visit, you not only support me, but you also take advantage of a better way to get the news. Welcome back to trustworthy journalism.

The first two batches of the Epstein files have finally been released, and the revelations are explosive. For decades, the media and the justice system ignored the most basic question: Who helped him? Now, thanks to thousands of pages of newly released DOJ documents, we know that there were the co-conspirators.

In this video, we look through the latest evidence to expose the network of co-conspirators and high-powered enablers who made Jeffrey Epstein’s crimes possible. We go beyond the headlines to reveal the specific individuals—from Ghislaine Maxwell to banking titans like Jes Staley—who were far closer to Epstein’s operation than they ever admitted.

We break down the bombshell New York Times investigation that dismantles the myth of Epstein's "financial genius" and uncover the bipartisan cover-up that kept these files buried for 40 years. From Donald Trump’s newly revealed flight logs to Bill Clinton’s White House connections, we show how a "two-tier" justice system worked to protect the powerful at the expense of the truth.

@nytimes article: https://www.nytimes.com/2025/12/16/magazine/jeffrey-epstein-money-scams-investigation.html

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2729 no Applied Portfolio Management - Class 3 - Equity Investment Management Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 14:40:00 -0000 full Patrick Boyle Learn more about your ad choices. Visit megaphone.fm/adchoices

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 5410 no Private Equity’s Quiet Crisis! ⚡️ Build something with Lovable ➡️➡️https://lovable.link/patrickboylePrivate equity has long promised smooth returns, operational excellence, and sophisticated diversification. But behind the pitch decks and performance charts lies a growing crisis. In this video, we explore:🔹 Why private equity firms are struggling to exit investments🔹 The illusion of stability created by stale pricing🔹 The role of leverage in driving returns — and fragility🔹 The push into 401(k)s and what it means for retail investors🔹 The rise of continuation funds, NAV loans, and other liquidity maneuvers🔹 The social and regulatory backlash against PE roll-up strategies🔹 What Bain, Buffett, and Cliff Asness really think about the modelFrom inflated IRRs to collapsing portfolio companies, the cracks are starting to show. Is private equity still a smart bet — or just a sophisticated shell game?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 14:19:05 -0000 full Patrick Boyle ⚡️ Build something with Lovable ➡️➡️https://lovable.link/patrickboylePrivate equity has long promised smooth returns, operational excellence, and sophisticated diversification. But behind the pitch decks and performance charts lies a growing crisis. In this video, we explore:🔹 Why private equity firms are struggling to exit investments🔹 The illusion of stability created by stale pricing🔹 The role of leverage in driving returns — and fragility🔹 The push into 401(k)s and what it means for retail investors🔹 The rise of continuation funds, NAV loans, and other liquidity maneuvers🔹 The social and regulatory backlash against PE roll-up strategies🔹 What Bain, Buffett, and Cliff Asness really think about the modelFrom inflated IRRs to collapsing portfolio companies, the cracks are starting to show. Is private equity still a smart bet — or just a sophisticated shell game?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices ⚡️ Build something with Lovable ➡️➡️https://lovable.link/patrickboyle

Private equity has long promised smooth returns, operational excellence, and sophisticated diversification. But behind the pitch decks and performance charts lies a growing crisis. In this video, we explore:
🔹 Why private equity firms are struggling to exit investments
🔹 The illusion of stability created by stale pricing
🔹 The role of leverage in driving returns — and fragility
🔹 The push into 401(k)s and what it means for retail investors
🔹 The rise of continuation funds, NAV loans, and other liquidity maneuvers
🔹 The social and regulatory backlash against PE roll-up strategies
🔹 What Bain, Buffett, and Cliff Asness really think about the model
From inflated IRRs to collapsing portfolio companies, the cracks are starting to show. Is private equity still a smart bet — or just a sophisticated shell game?

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2011 no How do you calculate value at risk? Two ways of calculating VaR In todays video we learn how to calculate VaR or Value at Risk.Buy The Book Here: https://amzn.to/37HIdEBFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleWhat is VAR?The most popular and traditional measure of risk is volatility. The main problem with volatility, however, is that it does not care about the direction of an investment's movement: a stock can be volatile because it suddenly jumps higher. Of course, investors do not get upset about gains. For investors, risk is about losing money, and VAR is based on that idea. By assuming investors care about the odds of a really big loss, VAR answers the question, “How much might I lose in a normal bad day?" and “How much could I lose in a really bad day?"Now let's get specific. A VAR statistic has three components: a time period, a confidence level and a loss amount (or loss percentage). You can see how the "VAR question" has three elements: a relatively high level of confidence (typically either 95% or 99%), a time period (a day, a month or a year) and an estimate of investment loss (expressed either in dollar or percentage terms).There are three methods of calculating VAR: the historical method, the variance-covariance method also known as the model approach) and the Monte Carlo simulation. I have covered Monte Carlo in a separate video. In this video we look at the Historical method and the model approach.What is the Historical method for calculating Value at Risk?The historical method simply re-organizes actual historical returns, putting them in order from worst to best. It then assumes that history will repeat itself, from a risk perspective.What is the Variance-Covariance Method or the model approach for calculating Value at Risk?This method assumes that stock returns are normally distributed. In other words, it requires that we estimate only two factors - an expected (or average) return and a standard deviation - which allow us to plot a normal distribution curve. The idea behind the variance-covariance is similar to the ideas behind the historical method - except that we use the familiar curve instead of actual data. The advantage of the normal curve is that we automatically know where the worst 5% and 1% lie on the curve. They are a function of our desired confidence and the standard deviationWhat is the Monte Carlo Simulation approach to calculating Value at Risk?The third method involves developing a model for future stock price returns and running multiple hypothetical trials through the model. A Monte Carlo simulation refers to any method that randomly generates trials, but by itself does not tell us anything about the underlying methodology. I have created a separate video on that topic which you can find here. https://www.youtube.com/watch?v=luSEdT2HBI4 Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 14:11:15 -0000 full Patrick Boyle In todays video we learn how to calculate VaR or Value at Risk.Buy The Book Here: https://amzn.to/37HIdEBFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleWhat is VAR?The most popular and traditional measure of risk is volatility. The main problem with volatility, however, is that it does not care about the direction of an investment's movement: a stock can be volatile because it suddenly jumps higher. Of course, investors do not get upset about gains. For investors, risk is about losing money, and VAR is based on that idea. By assuming investors care about the odds of a really big loss, VAR answers the question, “How much might I lose in a normal bad day?" and “How much could I lose in a really bad day?"Now let's get specific. A VAR statistic has three components: a time period, a confidence level and a loss amount (or loss percentage). You can see how the "VAR question" has three elements: a relatively high level of confidence (typically either 95% or 99%), a time period (a day, a month or a year) and an estimate of investment loss (expressed either in dollar or percentage terms).There are three methods of calculating VAR: the historical method, the variance-covariance method also known as the model approach) and the Monte Carlo simulation. I have covered Monte Carlo in a separate video. In this video we look at the Historical method and the model approach.What is the Historical method for calculating Value at Risk?The historical method simply re-organizes actual historical returns, putting them in order from worst to best. It then assumes that history will repeat itself, from a risk perspective.What is the Variance-Covariance Method or the model approach for calculating Value at Risk?This method assumes that stock returns are normally distributed. In other words, it requires that we estimate only two factors - an expected (or average) return and a standard deviation - which allow us to plot a normal distribution curve. The idea behind the variance-covariance is similar to the ideas behind the historical method - except that we use the familiar curve instead of actual data. The advantage of the normal curve is that we automatically know where the worst 5% and 1% lie on the curve. They are a function of our desired confidence and the standard deviationWhat is the Monte Carlo Simulation approach to calculating Value at Risk?The third method involves developing a model for future stock price returns and running multiple hypothetical trials through the model. A Monte Carlo simulation refers to any method that randomly generates trials, but by itself does not tell us anything about the underlying methodology. I have created a separate video on that topic which you can find here. https://www.youtube.com/watch?v=luSEdT2HBI4 Learn more about your ad choices. Visit megaphone.fm/adchoices In todays video we learn how to calculate VaR or Value at Risk.
Buy The Book Here: https://amzn.to/37HIdEB

Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

What is VAR?
The most popular and traditional measure of risk is volatility. The main problem with volatility, however, is that it does not care about the direction of an investment's movement: a stock can be volatile because it suddenly jumps higher. Of course, investors do not get upset about gains. For investors, risk is about losing money, and VAR is based on that idea. By assuming investors care about the odds of a really big loss, VAR answers the question, “How much might I lose in a normal bad day?" and “How much could I lose in a really bad day?"

Now let's get specific. A VAR statistic has three components: a time period, a confidence level and a loss amount (or loss percentage).

You can see how the "VAR question" has three elements: a relatively high level of confidence (typically either 95% or 99%), a time period (a day, a month or a year) and an estimate of investment loss (expressed either in dollar or percentage terms).

There are three methods of calculating VAR: the historical method, the variance-covariance method also known as the model approach) and the Monte Carlo simulation. I have covered Monte Carlo in a separate video. In this video we look at the Historical method and the model approach.

What is the Historical method for calculating Value at Risk?
The historical method simply re-organizes actual historical returns, putting them in order from worst to best. It then assumes that history will repeat itself, from a risk perspective.

What is the Variance-Covariance Method or the model approach for calculating Value at Risk?
This method assumes that stock returns are normally distributed. In other words, it requires that we estimate only two factors - an expected (or average) return and a standard deviation - which allow us to plot a normal distribution curve. The idea behind the variance-covariance is similar to the ideas behind the historical method - except that we use the familiar curve instead of actual data. The advantage of the normal curve is that we automatically know where the worst 5% and 1% lie on the curve. They are a function of our desired confidence and the standard deviation

What is the Monte Carlo Simulation approach to calculating Value at Risk?
The third method involves developing a model for future stock price returns and running multiple hypothetical trials through the model. A Monte Carlo simulation refers to any method that randomly generates trials, but by itself does not tell us anything about the underlying methodology. I have created a separate video on that topic which you can find here. https://www.youtube.com/watch?v=luSEdT2HBI4

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 777 no The 50-Year Mortgage: What You MUST Know! ✨ Start designing today with Gamma for free ➡️ https://gamma.app/?utm_source=youtube&utm_medium=influencer&utm_campaign=nov25&utm_content=akg_PBoyleIs Trump’s 50-Year Mortgage Plan the answer to America’s housing affordability crisis—or a financial trap? In this video, we break down the economics, politics, and history behind ultra-long mortgages.You’ll learn:* Why a 50-year mortgage might not lower monthly payments as promised* How interest rates and risk pricing change with longer loan terms* The hidden costs: slower equity growth, higher lifetime interest, and systemic risk* Lessons from Japan’s 50- and 100-year mortgages—and why they failed* What really drives housing affordability If you’re curious about housing policy, mortgage mechanics, and the future of homeownership, this deep dive is for you.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 13:42:30 -0000 full Patrick Boyle ✨ Start designing today with Gamma for free ➡️ https://gamma.app/?utm_source=youtube&utm_medium=influencer&utm_campaign=nov25&utm_content=akg_PBoyleIs Trump’s 50-Year Mortgage Plan the answer to America’s housing affordability crisis—or a financial trap? In this video, we break down the economics, politics, and history behind ultra-long mortgages.You’ll learn:* Why a 50-year mortgage might not lower monthly payments as promised* How interest rates and risk pricing change with longer loan terms* The hidden costs: slower equity growth, higher lifetime interest, and systemic risk* Lessons from Japan’s 50- and 100-year mortgages—and why they failed* What really drives housing affordability If you’re curious about housing policy, mortgage mechanics, and the future of homeownership, this deep dive is for you.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices ✨ Start designing today with Gamma for free ➡️ https://gamma.app/?utm_source=youtube&utm_medium=influencer&utm_campaign=nov25&utm_content=akg_PBoyle

Is Trump’s 50-Year Mortgage Plan the answer to America’s housing affordability crisis—or a financial trap? In this video, we break down the economics, politics, and history behind ultra-long mortgages.
You’ll learn:
* Why a 50-year mortgage might not lower monthly payments as promised
* How interest rates and risk pricing change with longer loan terms
* The hidden costs: slower equity growth, higher lifetime interest, and systemic risk
* Lessons from Japan’s 50- and 100-year mortgages—and why they failed
* What really drives housing affordability
If you’re curious about housing policy, mortgage mechanics, and the future of homeownership, this deep dive is for you.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 1732 no What is a Covered Call? - Options Trading What is a Covered Call? - Options Trading StrategiesThese classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleA covered call (oftenalso called a "buy-write" strategy) is a financial market transaction in which the seller of call options owns the corresponding amount of the underlying security, such as shares of a stock or other securities. According to put call parity, the strategy has the same payoffs as being short a put option. (See my video on put call parity)The long position in the underlying instrument is said to provide the "cover" as the shares can be delivered to the buyer of the call if the buyer decides to exercise. Writing (or selling) a call generates income in the form of the premium received from the option buyer. And if the stock price remains stable or increases, then the writer will be able to keep this income as a profit, even though the profit may have been higher if no call were written. The risk of stock ownership is not eliminated. If the stock price declines, then the overall position will lose money. Since in equilibrium the payoffs on the covered call position is the same as a short put position, the price (or premium) should be the same as the premium of the short put or naked put.Watch Patrick's Other Videos On This TopicProtective Put Video: https://www.youtube.com/watch?v=MUs4jga-NAI&t=26sPut Call Parity Video: https://www.youtube.com/watch?v=LPrlfElGZJ0&t=1s Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 13:16:21 -0000 full Patrick Boyle What is a Covered Call? - Options Trading StrategiesThese classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleA covered call (oftenalso called a "buy-write" strategy) is a financial market transaction in which the seller of call options owns the corresponding amount of the underlying security, such as shares of a stock or other securities. According to put call parity, the strategy has the same payoffs as being short a put option. (See my video on put call parity)The long position in the underlying instrument is said to provide the "cover" as the shares can be delivered to the buyer of the call if the buyer decides to exercise. Writing (or selling) a call generates income in the form of the premium received from the option buyer. And if the stock price remains stable or increases, then the writer will be able to keep this income as a profit, even though the profit may have been higher if no call were written. The risk of stock ownership is not eliminated. If the stock price declines, then the overall position will lose money. Since in equilibrium the payoffs on the covered call position is the same as a short put position, the price (or premium) should be the same as the premium of the short put or naked put.Watch Patrick's Other Videos On This TopicProtective Put Video: https://www.youtube.com/watch?v=MUs4jga-NAI&t=26sPut Call Parity Video: https://www.youtube.com/watch?v=LPrlfElGZJ0&t=1s Learn more about your ad choices. Visit megaphone.fm/adchoices What is a Covered Call? - Options Trading Strategies

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

A covered call (oftenalso called a "buy-write" strategy) is a financial market transaction in which the seller of call options owns the corresponding amount of the underlying security, such as shares of a stock or other securities. According to put call parity, the strategy has the same payoffs as being short a put option. (See my video on put call parity)

The long position in the underlying instrument is said to provide the "cover" as the shares can be delivered to the buyer of the call if the buyer decides to exercise.

Writing (or selling) a call generates income in the form of the premium received from the option buyer. And if the stock price remains stable or increases, then the writer will be able to keep this income as a profit, even though the profit may have been higher if no call were written. The risk of stock ownership is not eliminated. If the stock price declines, then the overall position will lose money.

Since in equilibrium the payoffs on the covered call position is the same as a short put position, the price (or premium) should be the same as the premium of the short put or naked put.

Watch Patrick's Other Videos On This Topic
Protective Put Video: https://www.youtube.com/watch?v=MUs4jga-NAI&t=26s
Put Call Parity Video: https://www.youtube.com/watch?v=LPrlfElGZJ0&t=1s

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 471 no How to Price Options using a Binomial Tree (The Portfolio Approach) How to Price Options using a Binomial Tree. The portfolio approach.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleThe Binomial Tree approach to options pricing involves constructing a diagram of the possible paths of the stock price over the life of the option and then calculating the present value of the final cash flows to determine the current option price.We will start with a simplified view of the world and explain the approach, then we will slowly adjust the model to make it more and more realistic.The Portfolio ApproachFor our first example we will start with an underlying that has a price of $50, and we know at the end of three months that the underlying will be at one of two prices, either $70 or $30 (this "foreknowledge" is in fact a very big assumption, but stay with us for a while and we will improve this admittedly hugely unrealistic assumption). We will price a European Call with a strike of $50, and one month to expiration. The only additional piece of information that we need in order to solve this problem is the interest rate, which we will set at 5%. The first step is to draw our tree putting in the spot price S0, the two ending prices of the underlying at T ST and the value of the call at expiration given the two ending prices c. If we know with certainty (a big assumption) that there are only two outcomes for the stock price at T and we assume that no arbitrages are freely available in marketplaces (a much better assumption) we can set up a portfolio of S and the derivative c on that same underlying where there is no uncertainty about valuations at T maturity.The portfolio will be some amount (delta) of S and short one call option c. If we set the two portfolios as equal and solve for delta The portfolio is riskless if there is a value for delta where the two portfolios have an identical value at maturity in all possible scenarios. In either case above, the portfolio at expiration is worth $15. Because this portfolio is riskless we can discount it at the risk free rate (5%) for one months (1/12 of a year) to find the present value of the portfolio. So far, we have found the interesting result that if we know the two next possible steps in an underlying assets price and we know the risk free interest rate we can price a derivative. The only problem we have is that our first assumption is quite unrealistic, but as you will see, we can keep working with this approach and make more reasonable assumptions as the chapter progresses.NotationAs we move forward with binomial valuations, we will always be assuming a portfolio at each node knowing that some value for delta makes the portfolios equivalent at time T. It is important to note that we are not valuing the option in absolute terms. We are calculating its value as implied by the price and volatility of the underlying and the risk free rate. The probabilities of up and down movements are already incorporated in these prices and we don’t need to take them into account again when pricing the option which is based on the stock. All of our methods of valuing derivatives share this approach. People's expected returns for underlyings are irrelevant in this calculation, as all we are saying is that assuming the price for the underlying is X, then Y is the only fair price for the option, any other price would allow for arbitrage opportunities between the price of the underlying and the derivative.Watch tomorrows video to learn the risk neutral approach to pricing binomial trees. Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 13:13:45 -0000 full Patrick Boyle How to Price Options using a Binomial Tree. The portfolio approach.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleThe Binomial Tree approach to options pricing involves constructing a diagram of the possible paths of the stock price over the life of the option and then calculating the present value of the final cash flows to determine the current option price.We will start with a simplified view of the world and explain the approach, then we will slowly adjust the model to make it more and more realistic.The Portfolio ApproachFor our first example we will start with an underlying that has a price of $50, and we know at the end of three months that the underlying will be at one of two prices, either $70 or $30 (this "foreknowledge" is in fact a very big assumption, but stay with us for a while and we will improve this admittedly hugely unrealistic assumption). We will price a European Call with a strike of $50, and one month to expiration. The only additional piece of information that we need in order to solve this problem is the interest rate, which we will set at 5%. The first step is to draw our tree putting in the spot price S0, the two ending prices of the underlying at T ST and the value of the call at expiration given the two ending prices c. If we know with certainty (a big assumption) that there are only two outcomes for the stock price at T and we assume that no arbitrages are freely available in marketplaces (a much better assumption) we can set up a portfolio of S and the derivative c on that same underlying where there is no uncertainty about valuations at T maturity.The portfolio will be some amount (delta) of S and short one call option c. If we set the two portfolios as equal and solve for delta The portfolio is riskless if there is a value for delta where the two portfolios have an identical value at maturity in all possible scenarios. In either case above, the portfolio at expiration is worth $15. Because this portfolio is riskless we can discount it at the risk free rate (5%) for one months (1/12 of a year) to find the present value of the portfolio. So far, we have found the interesting result that if we know the two next possible steps in an underlying assets price and we know the risk free interest rate we can price a derivative. The only problem we have is that our first assumption is quite unrealistic, but as you will see, we can keep working with this approach and make more reasonable assumptions as the chapter progresses.NotationAs we move forward with binomial valuations, we will always be assuming a portfolio at each node knowing that some value for delta makes the portfolios equivalent at time T. It is important to note that we are not valuing the option in absolute terms. We are calculating its value as implied by the price and volatility of the underlying and the risk free rate. The probabilities of up and down movements are already incorporated in these prices and we don’t need to take them into account again when pricing the option which is based on the stock. All of our methods of valuing derivatives share this approach. People's expected returns for underlyings are irrelevant in this calculation, as all we are saying is that assuming the price for the underlying is X, then Y is the only fair price for the option, any other price would allow for arbitrage opportunities between the price of the underlying and the derivative.Watch tomorrows video to learn the risk neutral approach to pricing binomial trees. Learn more about your ad choices. Visit megaphone.fm/adchoices How to Price Options using a Binomial Tree. The portfolio approach.

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

The Binomial Tree approach to options pricing involves constructing a diagram of the possible paths of the stock price over the life of the option and then calculating the present value of the final cash flows to determine the current option price.

We will start with a simplified view of the world and explain the approach, then we will slowly adjust the model to make it more and more realistic.

The Portfolio Approach
For our first example we will start with an underlying that has a price of $50, and we know at the end of three months that the underlying will be at one of two prices, either $70 or $30 (this "foreknowledge" is in fact a very big assumption, but stay with us for a while and we will improve this admittedly hugely unrealistic assumption). We will price a European Call with a strike of $50, and one month to expiration. The only additional piece of information that we need in order to solve this problem is the interest rate, which we will set at 5%.

The first step is to draw our tree putting in the spot price S0, the two ending prices of the underlying at T ST and the value of the call at expiration given the two ending prices c.

If we know with certainty (a big assumption) that there are only two outcomes for the stock price at T and we assume that no arbitrages are freely available in marketplaces (a much better assumption) we can set up a portfolio of S and the derivative c on that same underlying where there is no uncertainty about valuations at T maturity.

The portfolio will be some amount (delta) of S and short one call option c.

If we set the two portfolios as equal and solve for delta 
The portfolio is riskless if there is a value for delta where the two portfolios have an identical value at maturity in all possible scenarios. In either case above, the portfolio at expiration is worth $15. Because this portfolio is riskless we can discount it at the risk free rate (5%) for one months (1/12 of a year) to find the present value of the portfolio. 

So far, we have found the interesting result that if we know the two next possible steps in an underlying assets price and we know the risk free interest rate we can price a derivative. The only problem we have is that our first assumption is quite unrealistic, but as you will see, we can keep working with this approach and make more reasonable assumptions as the chapter progresses.
Notation

As we move forward with binomial valuations, we will always be assuming a portfolio at each node knowing that some value for delta makes the portfolios equivalent at time T. It is important to note that we are not valuing the option in absolute terms. We are calculating its value as implied by the price and volatility of the underlying and the risk free rate. The probabilities of up and down movements are already incorporated in these prices and we don’t need to take them into account again when pricing the option which is based on the stock. All of our methods of valuing derivatives share this approach. People's expected returns for underlyings are irrelevant in this calculation, as all we are saying is that assuming the price for the underlying is X, then Y is the only fair price for the option, any other price would allow for arbitrage opportunities between the price of the underlying and the derivative.

Watch tomorrows video to learn the risk neutral approach to pricing binomial trees.

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]]> 1166 no What is a CDO? | Collateralized Debt Obligation | Credit Derivatives What is a CDO? | Collateralized Debt Obligation | Credit DerivativesBuy The Book Here: https://amzn.to/37HIdEBFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleWhat is a CDO?A collateralized debt obligation (CDO) is a type of structured asset-backed security (ABS). Originally developed as instruments for the corporate debt markets, after 2002 CDOs became vehicles for refinancing mortgage-backed securities (MBS). Like other private label securities backed by assets, a CDO can be thought of as a promise to pay investors in a prescribed sequence, based on the cash flow the CDO collects from the pool of bonds or other assets it owns. Distinctively, CDO credit risk is typically assessed based on a PD derived from ratings on those bonds or assets. The CDO is "sliced" into "tranches", which "catch" the cash flow of interest and principal payments in sequence based on seniority. If some loans default and the cash collected by the CDO is insufficient to pay all of its investors, those in the lowest, most "junior" tranches suffer losses first. The last to lose payment from default are the safest, most senior tranches. Consequently, coupon payments (and interest rates) vary by tranche with the safest/most senior tranches receiving the lowest rates and the lowest tranches receiving the highest rates to compensate for higher default risk. As an example, a CDO might issue the following tranches in order of safeness: Senior AAA; AA; A; BBB; Residual.Separate special purpose entities—rather than the parent investment bank—issue the CDOs and pay interest to investors. As CDOs developed, some sponsors repackaged tranches into yet another iteration, known as "CDO-Squared", "CDOs of CDOs" or "synthetic CDOs". In the early 2000s, the debt underpinning CDOs was generally diversified, but by 2006–2007—when the CDO market grew to hundreds of billions of dollars—this had changed. CDO collateral became dominated by high risk (BBB or A) tranches recycled from other asset-backed securities, whose assets were usually subprime mortgages. These CDOs have been called "the engine that powered the mortgage supply chain" for subprime mortgages, and are credited with giving lenders greater incentive to make subprime loans, leading to the 2007-2009 subprime mortgage crisis. Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 12:45:00 -0000 full Patrick Boyle What is a CDO? | Collateralized Debt Obligation | Credit DerivativesBuy The Book Here: https://amzn.to/37HIdEBFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleWhat is a CDO?A collateralized debt obligation (CDO) is a type of structured asset-backed security (ABS). Originally developed as instruments for the corporate debt markets, after 2002 CDOs became vehicles for refinancing mortgage-backed securities (MBS). Like other private label securities backed by assets, a CDO can be thought of as a promise to pay investors in a prescribed sequence, based on the cash flow the CDO collects from the pool of bonds or other assets it owns. Distinctively, CDO credit risk is typically assessed based on a PD derived from ratings on those bonds or assets. The CDO is "sliced" into "tranches", which "catch" the cash flow of interest and principal payments in sequence based on seniority. If some loans default and the cash collected by the CDO is insufficient to pay all of its investors, those in the lowest, most "junior" tranches suffer losses first. The last to lose payment from default are the safest, most senior tranches. Consequently, coupon payments (and interest rates) vary by tranche with the safest/most senior tranches receiving the lowest rates and the lowest tranches receiving the highest rates to compensate for higher default risk. As an example, a CDO might issue the following tranches in order of safeness: Senior AAA; AA; A; BBB; Residual.Separate special purpose entities—rather than the parent investment bank—issue the CDOs and pay interest to investors. As CDOs developed, some sponsors repackaged tranches into yet another iteration, known as "CDO-Squared", "CDOs of CDOs" or "synthetic CDOs". In the early 2000s, the debt underpinning CDOs was generally diversified, but by 2006–2007—when the CDO market grew to hundreds of billions of dollars—this had changed. CDO collateral became dominated by high risk (BBB or A) tranches recycled from other asset-backed securities, whose assets were usually subprime mortgages. These CDOs have been called "the engine that powered the mortgage supply chain" for subprime mortgages, and are credited with giving lenders greater incentive to make subprime loans, leading to the 2007-2009 subprime mortgage crisis. Learn more about your ad choices. Visit megaphone.fm/adchoices What is a CDO? | Collateralized Debt Obligation | Credit Derivatives
Buy The Book Here: https://amzn.to/37HIdEB

Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

What is a CDO?
A collateralized debt obligation (CDO) is a type of structured asset-backed security (ABS). Originally developed as instruments for the corporate debt markets, after 2002 CDOs became vehicles for refinancing mortgage-backed securities (MBS). Like other private label securities backed by assets, a CDO can be thought of as a promise to pay investors in a prescribed sequence, based on the cash flow the CDO collects from the pool of bonds or other assets it owns. Distinctively, CDO credit risk is typically assessed based on a PD derived from ratings on those bonds or assets. The CDO is "sliced" into "tranches", which "catch" the cash flow of interest and principal payments in sequence based on seniority. If some loans default and the cash collected by the CDO is insufficient to pay all of its investors, those in the lowest, most "junior" tranches suffer losses first. The last to lose payment from default are the safest, most senior tranches. Consequently, coupon payments (and interest rates) vary by tranche with the safest/most senior tranches receiving the lowest rates and the lowest tranches receiving the highest rates to compensate for higher default risk. As an example, a CDO might issue the following tranches in order of safeness: Senior AAA; AA; A; BBB; Residual.
Separate special purpose entities—rather than the parent investment bank—issue the CDOs and pay interest to investors. As CDOs developed, some sponsors repackaged tranches into yet another iteration, known as "CDO-Squared", "CDOs of CDOs" or "synthetic CDOs".
In the early 2000s, the debt underpinning CDOs was generally diversified, but by 2006–2007—when the CDO market grew to hundreds of billions of dollars—this had changed. CDO collateral became dominated by high risk (BBB or A) tranches recycled from other asset-backed securities, whose assets were usually subprime mortgages. These CDOs have been called "the engine that powered the mortgage supply chain" for subprime mortgages, and are credited with giving lenders greater incentive to make subprime loans, leading to the 2007-2009 subprime mortgage crisis.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 1067 no Crypto Bought The 2024 Election! Use PATRICK activation code at http://nordpass.com/patrick to get a NordPass Business 3-month free trial. No credit card is required.According to the consumer advocacy group Public Citizen, almost half of all corporate money contributed to this year's US election campaigns has come from crypto backers and politicians are bending to their will with promises to reduce regulation and consumer protections.Why do Trump and Kamala Harris suddenly support crypto? In today's video we follow the money.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleZeke Faux Book - Number Go Up: https://amzn.to/4gMw5a2Molly White Article - https://www.citationneeded.news/coinbase-campaign-finance-violation/Public Citizen Report - https://www.citizen.org/article/big-crypto-big-spending-2024/Business Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 12:16:15 -0000 full Patrick Boyle Use PATRICK activation code at http://nordpass.com/patrick to get a NordPass Business 3-month free trial. No credit card is required.According to the consumer advocacy group Public Citizen, almost half of all corporate money contributed to this year's US election campaigns has come from crypto backers and politicians are bending to their will with promises to reduce regulation and consumer protections.Why do Trump and Kamala Harris suddenly support crypto? In today's video we follow the money.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleZeke Faux Book - Number Go Up: https://amzn.to/4gMw5a2Molly White Article - https://www.citationneeded.news/coinbase-campaign-finance-violation/Public Citizen Report - https://www.citizen.org/article/big-crypto-big-spending-2024/Business Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Use PATRICK activation code at http://nordpass.com/patrick to get a NordPass Business 3-month free trial. No credit card is required.

According to the consumer advocacy group Public Citizen, almost half of all corporate money contributed to this year's US election campaigns has come from crypto backers and politicians are bending to their will with promises to reduce regulation and consumer protections.

Why do Trump and Kamala Harris suddenly support crypto? In today's video we follow the money.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Zeke Faux Book - Number Go Up: https://amzn.to/4gMw5a2
Molly White Article - https://www.citationneeded.news/coinbase-campaign-finance-violation/
Public Citizen Report - https://www.citizen.org/article/big-crypto-big-spending-2024/

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
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]]> 1945 no The Chainsaw Stalls: Can Milei Cut Through Argentina’s Currency Collapse? Go to ➞ https://surfshark.com/boyle or use code BOYLE at checkout to get 4 extra months of Surfshark VPN!Argentina’s economy is in crisis—again. President Javier Milei’s reforms slashed inflation and balanced the budget, but now the peso is under siege. In this video, we unpack the $20 billion U.S. bailout, the speculative pressure on Argentina’s currency, and the political risks ahead of the October 26 midterms.We’ll look at:Why the U.S. Treasury is buying pesos for the first time in decadesHow Milei’s fixed-but-adjustable exchange rate is draining reservesThe geopolitical angle: China, soybeans, and Washington’s strategic betWhat history tells us about defending overvalued currenciesWhether Milei’s reform agenda can survive—or if the chainsaw has stalledPatrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 12:13:38 -0000 full Patrick Boyle Go to ➞ https://surfshark.com/boyle or use code BOYLE at checkout to get 4 extra months of Surfshark VPN!Argentina’s economy is in crisis—again. President Javier Milei’s reforms slashed inflation and balanced the budget, but now the peso is under siege. In this video, we unpack the $20 billion U.S. bailout, the speculative pressure on Argentina’s currency, and the political risks ahead of the October 26 midterms.We’ll look at:Why the U.S. Treasury is buying pesos for the first time in decadesHow Milei’s fixed-but-adjustable exchange rate is draining reservesThe geopolitical angle: China, soybeans, and Washington’s strategic betWhat history tells us about defending overvalued currenciesWhether Milei’s reform agenda can survive—or if the chainsaw has stalledPatrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Go to ➞ https://surfshark.com/boyle or use code BOYLE at checkout to get 4 extra months of Surfshark VPN!

Argentina’s economy is in crisis—again. President Javier Milei’s reforms slashed inflation and balanced the budget, but now the peso is under siege. In this video, we unpack the $20 billion U.S. bailout, the speculative pressure on Argentina’s currency, and the political risks ahead of the October 26 midterms.

We’ll look at:

Why the U.S. Treasury is buying pesos for the first time in decades
How Milei’s fixed-but-adjustable exchange rate is draining reserves
The geopolitical angle: China, soybeans, and Washington’s strategic bet
What history tells us about defending overvalued currencies
Whether Milei’s reform agenda can survive—or if the chainsaw has stalled

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

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]]> 1447 no Pricing Interest Rate Swaps In todays video we will learn the two methods for pricing interest rate swaps.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleInterest Rate Swap ValuationSwaps are typically valued at zero at inception. Afterwards they, may take on a positive or negative valuation. Swaps are a zero-sum game, one counterparty’s gain is equal to the other counterparty’s loss.A plain vanilla interest rate swap can be priced as either a combination of a long position in one bond and a short position in another bond, or as a portfolio of forward-rate-agreements. In this video we will learn about both the bond valuation approach and the FRA (Forward rate agreement) approach to pricing interest rate swaps.Trading and Pricing Financial Derivatives Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 11:47:30 -0000 full Patrick Boyle In todays video we will learn the two methods for pricing interest rate swaps.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleInterest Rate Swap ValuationSwaps are typically valued at zero at inception. Afterwards they, may take on a positive or negative valuation. Swaps are a zero-sum game, one counterparty’s gain is equal to the other counterparty’s loss.A plain vanilla interest rate swap can be priced as either a combination of a long position in one bond and a short position in another bond, or as a portfolio of forward-rate-agreements. In this video we will learn about both the bond valuation approach and the FRA (Forward rate agreement) approach to pricing interest rate swaps.Trading and Pricing Financial Derivatives Learn more about your ad choices. Visit megaphone.fm/adchoices In todays video we will learn the two methods for pricing interest rate swaps.

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle


Interest Rate Swap Valuation

Swaps are typically valued at zero at inception. Afterwards they, may take on a positive or negative valuation. Swaps are a zero-sum game, one counterparty’s gain is equal to the other counterparty’s loss.

A plain vanilla interest rate swap can be priced as either a combination of a long position in one bond and a short position in another bond, or as a portfolio of forward-rate-agreements. In this video we will learn about both the bond valuation approach and the FRA (Forward rate agreement) approach to pricing interest rate swaps.

Trading and Pricing Financial Derivatives

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 1046 no Option Payoff Diagrams For Put Options and Call Options, What do they mean? Option Payoff Diagrams For Put Options and Call Options, What do they mean?Buy The Book Here: https://amzn.to/2vRA7wcVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleIn this video we learn about options payoff diagrams for put options and call options, we see what the payoff diagrams look like for being long a call, long a put, short a call and short a put. We learn how to understand these diagrams. Later there will be a video on options combinations and how to draw those payoff diagrams.An options payoff diagram, profit and loss diagram, or risk graph, is a visual representation of the possible profit and loss of an option strategy at options expiration. Option traders use these diagrams to evaluate how a strategy may perform over a range of prices, thereby gaining an understanding of potential outcomes. Because of the visual nature of a diagram, traders can evaluate the potential profit and loss – and the risk and reward of the position – at a glance.To create a profit and loss diagram, values are plotted along the X and Y axes. The horizontal axis (the x-axis) shows the underlying prices, labeled in order with lower prices on the left and higher prices towards the right. The current underlying price is usually centered along this axis. The vertical axis (the y-axis) represents the potential profit and loss values for the position. The breakeven point (that indicates no profit and no loss) is usually centered on the y-axis, with profits shown above this point (higher along the y-axis) and losses below this point (lower on the axis).Trading and Pricing Financial DerivativesPatrick Boyle On Finance Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 11:18:45 -0000 full Patrick Boyle Option Payoff Diagrams For Put Options and Call Options, What do they mean?Buy The Book Here: https://amzn.to/2vRA7wcVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleIn this video we learn about options payoff diagrams for put options and call options, we see what the payoff diagrams look like for being long a call, long a put, short a call and short a put. We learn how to understand these diagrams. Later there will be a video on options combinations and how to draw those payoff diagrams.An options payoff diagram, profit and loss diagram, or risk graph, is a visual representation of the possible profit and loss of an option strategy at options expiration. Option traders use these diagrams to evaluate how a strategy may perform over a range of prices, thereby gaining an understanding of potential outcomes. Because of the visual nature of a diagram, traders can evaluate the potential profit and loss – and the risk and reward of the position – at a glance.To create a profit and loss diagram, values are plotted along the X and Y axes. The horizontal axis (the x-axis) shows the underlying prices, labeled in order with lower prices on the left and higher prices towards the right. The current underlying price is usually centered along this axis. The vertical axis (the y-axis) represents the potential profit and loss values for the position. The breakeven point (that indicates no profit and no loss) is usually centered on the y-axis, with profits shown above this point (higher along the y-axis) and losses below this point (lower on the axis).Trading and Pricing Financial DerivativesPatrick Boyle On Finance Learn more about your ad choices. Visit megaphone.fm/adchoices Option Payoff Diagrams For Put Options and Call Options, What do they mean?
Buy The Book Here: https://amzn.to/2vRA7wc
Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

In this video we learn about options payoff diagrams for put options and call options, we see what the payoff diagrams look like for being long a call, long a put, short a call and short a put. We learn how to understand these diagrams. Later there will be a video on options combinations and how to draw those payoff diagrams.

An options payoff diagram, profit and loss diagram, or risk graph, is a visual representation of the possible profit and loss of an option strategy at options expiration. Option traders use these diagrams to evaluate how a strategy may perform over a range of prices, thereby gaining an understanding of potential outcomes. Because of the visual nature of a diagram, traders can evaluate the potential profit and loss – and the risk and reward of the position – at a glance.

To create a profit and loss diagram, values are plotted along the X and Y axes. The horizontal axis (the x-axis) shows the underlying prices, labeled in order with lower prices on the left and higher prices towards the right. The current underlying price is usually centered along this axis. The vertical axis (the y-axis) represents the potential profit and loss values for the position. The breakeven point (that indicates no profit and no loss) is usually centered on the y-axis, with profits shown above this point (higher along the y-axis) and losses below this point (lower on the axis).

Trading and Pricing Financial Derivatives

Patrick Boyle On Finance

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 855 no Trump’s Tariff Wars - What Happens Next? Go to https://ground.news/pb to get up to 40% off unlimited access to stay fully informed. Subscribe through my link this month for 40% off unlimited access. Last weekend Donald Trump announced 25 per cent tariffs on most imports from Canada and Mexico, and an additional 10 per cent levy on imports from China. Canadian oil was hit at a lower rate of 10 per cent. The duties will take effect from Tuesday. Just days later these tariffs were suspended.Trump said the actions were in response to the “major threat” posed by the flow of migrants and drugs into the US across its borders with Canada and Mexico.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveBrad Setser - Foreign Policy Interview: https://foreignpolicy.com/live/trump-tariff-trade-brad-setser/Join this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 11:10:54 -0000 full Patrick Boyle Go to https://ground.news/pb to get up to 40% off unlimited access to stay fully informed. Subscribe through my link this month for 40% off unlimited access. Last weekend Donald Trump announced 25 per cent tariffs on most imports from Canada and Mexico, and an additional 10 per cent levy on imports from China. Canadian oil was hit at a lower rate of 10 per cent. The duties will take effect from Tuesday. Just days later these tariffs were suspended.Trump said the actions were in response to the “major threat” posed by the flow of migrants and drugs into the US across its borders with Canada and Mexico.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveBrad Setser - Foreign Policy Interview: https://foreignpolicy.com/live/trump-tariff-trade-brad-setser/Join this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Go to https://ground.news/pb to get up to 40% off unlimited access to stay fully informed. Subscribe through my link this month for 40% off unlimited access.

Last weekend Donald Trump announced 25 per cent tariffs on most imports from Canada and Mexico, and an additional 10 per cent levy on imports from China. Canadian oil was hit at a lower rate of 10 per cent. The duties will take effect from Tuesday. Just days later these tariffs were suspended.

Trump said the actions were in response to the “major threat” posed by the flow of migrants and drugs into the US across its borders with Canada and Mexico.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Brad Setser - Foreign Policy Interview: https://foreignpolicy.com/live/trump-tariff-trade-brad-setser/

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2247 no Pricing An Option on a Dividend Paying Stock Using The Binomial Tree Method - Trading Tutorial These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleThis is the sixth video in our series on pricing options, to watch the whole series as a playlist, click here: https://www.youtube.com/watch?v=LHaftRA2N8A&list=PLHC72UlhAthDq-s_jRepKDrsaeGDU3PaJOptions on Dividend Paying UnderlyingsFor an American-style call option, early exercise can make sense whenever the benefits of being long the underlying outweighs the cost of giving up the option early (the benefits of being long the underlying outweigh the foregone time value of the option). For example, on the day before an ex-dividend date, it may make sense to exercise an equity call option early in order to collect the dividend. In general, equity call options should only be exercised early on the day before an ex-dividend date, and then only for deep in-the-money options when the dividend is sufficiently large. Todays video illustrates a scenario where a dividend of $2.50 per share is expected to be paid immediately prior to expiration of an option. Call option holders, though holding "bullish" or "long" positions with respect to the underlying asset, are not eligible to collect dividends paid on the underlyings. Therefore, if a long American call option holder expects at T0 and at T1 that a dividend will be paid on the underlying stock just prior to the option's maturity at T2, they can evaluate whether or not it is optimal to early-exercise. Analyzing potential early exercise at T0 shows there is no benefit to early exercising since the option is not in-the-money. At T1, the up node is in-the-money, the American call holder evaluates if holding or early-exercising is optimal. Early-exercising has a value at T1 in the up node of $3.00 ($30 share price less $30 strike). Using the European options binomial tree pricing formula fu in the up node, the call option is valued at only $2.73. This valuation difference came about because the expected value of the spot at T2 is reduced by $2.50 just prior to expiration. This dividend payment is of sufficient size, in this case (it is not always optimal to early-exercise on dividend-paying stocks, prior to expiration, it depends on the relative size of the dividend), that the underlying asset's price drop due to the dividend payment makes early-exercise the optimal strategy. Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 10:50:00 -0000 full Patrick Boyle These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleThis is the sixth video in our series on pricing options, to watch the whole series as a playlist, click here: https://www.youtube.com/watch?v=LHaftRA2N8A&list=PLHC72UlhAthDq-s_jRepKDrsaeGDU3PaJOptions on Dividend Paying UnderlyingsFor an American-style call option, early exercise can make sense whenever the benefits of being long the underlying outweighs the cost of giving up the option early (the benefits of being long the underlying outweigh the foregone time value of the option). For example, on the day before an ex-dividend date, it may make sense to exercise an equity call option early in order to collect the dividend. In general, equity call options should only be exercised early on the day before an ex-dividend date, and then only for deep in-the-money options when the dividend is sufficiently large. Todays video illustrates a scenario where a dividend of $2.50 per share is expected to be paid immediately prior to expiration of an option. Call option holders, though holding "bullish" or "long" positions with respect to the underlying asset, are not eligible to collect dividends paid on the underlyings. Therefore, if a long American call option holder expects at T0 and at T1 that a dividend will be paid on the underlying stock just prior to the option's maturity at T2, they can evaluate whether or not it is optimal to early-exercise. Analyzing potential early exercise at T0 shows there is no benefit to early exercising since the option is not in-the-money. At T1, the up node is in-the-money, the American call holder evaluates if holding or early-exercising is optimal. Early-exercising has a value at T1 in the up node of $3.00 ($30 share price less $30 strike). Using the European options binomial tree pricing formula fu in the up node, the call option is valued at only $2.73. This valuation difference came about because the expected value of the spot at T2 is reduced by $2.50 just prior to expiration. This dividend payment is of sufficient size, in this case (it is not always optimal to early-exercise on dividend-paying stocks, prior to expiration, it depends on the relative size of the dividend), that the underlying asset's price drop due to the dividend payment makes early-exercise the optimal strategy. Learn more about your ad choices. Visit megaphone.fm/adchoices These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle


This is the sixth video in our series on pricing options, to watch the whole series as a playlist, click here: https://www.youtube.com/watch?v=LHaftRA2N8A&list=PLHC72UlhAthDq-s_jRepKDrsaeGDU3PaJ

Options on Dividend Paying Underlyings

For an American-style call option, early exercise can make sense whenever the benefits of being long the underlying outweighs the cost of giving up the option early (the benefits of being long the underlying outweigh the foregone time value of the option). For example, on the day before an ex-dividend date, it may make sense to exercise an equity call option early in order to collect the dividend. In general, equity call options should only be exercised early on the day before an ex-dividend date, and then only for deep in-the-money options when the dividend is sufficiently large.

Todays video illustrates a scenario where a dividend of $2.50 per share is expected to be paid immediately prior to expiration of an option. Call option holders, though holding "bullish" or "long" positions with respect to the underlying asset, are not eligible to collect dividends paid on the underlyings. Therefore, if a long American call option holder expects at T0 and at T1 that a dividend will be paid on the underlying stock just prior to the option's maturity at T2, they can evaluate whether or not it is optimal to early-exercise. Analyzing potential early exercise at T0 shows there is no benefit to early exercising since the option is not in-the-money. At T1, the up node is in-the-money, the American call holder evaluates if holding or early-exercising is optimal. Early-exercising has a value at T1 in the up node of $3.00 ($30 share price less $30 strike). Using the European options binomial tree pricing formula fu in the up node, the call option is valued at only $2.73. This valuation difference came about because the expected value of the spot at T2 is reduced by $2.50 just prior to expiration. This dividend payment is of sufficient size, in this case (it is not always optimal to early-exercise on dividend-paying stocks, prior to expiration, it depends on the relative size of the dividend), that the underlying asset's price drop due to the dividend payment makes early-exercise the optimal strategy.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 762 no The End of Legal Immigration? 🌟Go to http://covepure.com/patrick to get $200 off.Is America Closing the Door on Global Talent?Donald Trump’s new $100,000 fee on H-1B visa applications has sent shockwaves through the tech industry, universities, and foreign governments. In this video, we unpack the legal, economic, and political fallout — from panics at airports to diplomatic blowback, from the Hyundai factory raid to the eerie silence of Silicon Valley CEOs. Is this the end of skilled immigration as we know it? Or just another chapter in America’s long-running immigration drama?We’ll explore:What the H-1B visa is and why it mattersHow the fee could reshape tech hiring, university admissions, and global talent flowsThe legal challenges ahead and the industrial policy contradictionsWhy CEOs are staying quiet — and what that silence saysThe growing divide between MAGA populism and tech elite pragmatismPatrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 10:21:15 -0000 full Patrick Boyle 🌟Go to http://covepure.com/patrick to get $200 off.Is America Closing the Door on Global Talent?Donald Trump’s new $100,000 fee on H-1B visa applications has sent shockwaves through the tech industry, universities, and foreign governments. In this video, we unpack the legal, economic, and political fallout — from panics at airports to diplomatic blowback, from the Hyundai factory raid to the eerie silence of Silicon Valley CEOs. Is this the end of skilled immigration as we know it? Or just another chapter in America’s long-running immigration drama?We’ll explore:What the H-1B visa is and why it mattersHow the fee could reshape tech hiring, university admissions, and global talent flowsThe legal challenges ahead and the industrial policy contradictionsWhy CEOs are staying quiet — and what that silence saysThe growing divide between MAGA populism and tech elite pragmatismPatrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices 🌟Go to http://covepure.com/patrick to get $200 off.

Is America Closing the Door on Global Talent?
Donald Trump’s new $100,000 fee on H-1B visa applications has sent shockwaves through the tech industry, universities, and foreign governments. In this video, we unpack the legal, economic, and political fallout — from panics at airports to diplomatic blowback, from the Hyundai factory raid to the eerie silence of Silicon Valley CEOs. Is this the end of skilled immigration as we know it? Or just another chapter in America’s long-running immigration drama?

We’ll explore:

What the H-1B visa is and why it matters
How the fee could reshape tech hiring, university admissions, and global talent flows
The legal challenges ahead and the industrial policy contradictions
Why CEOs are staying quiet — and what that silence says
The growing divide between MAGA populism and tech elite pragmatism

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2162 no The Insane US-Japan Currency Bailout Level up your note-taking with Plaud NotePro at https://bit.ly/4c9s3bC and use code PBOYLE for 15% offAmazon: https://amzn.to/4xFP79QIn July 2026, the US Treasury did something it hadn't done since 1998: it intervened in the currency markets to prop up the Japanese yen — and Treasury Secretary Scott Bessent, a former Soros hedge fund manager, ran the trade in the strangest way possible, selling euros instead of dollars without telling the ECB. But this was never really about Japan. It was about protecting American borrowing costs at a moment when the US is paying more to borrow than it has in decades — with 30-year Treasury yields hitting their highest since 2001. This video breaks down the US-Japan yen intervention, the carry trade, the FIMA facility, and Bessent's huge bet on falling interest rates, and asks the real question underneath it all: is the Treasury Secretary a visionary macro trader, or a cornered man making an enormous gamble with the balance sheet of the United States? A look at currency intervention, the eroding "exorbitant privilege" of the dollar, and why America's cheap borrowing may be coming to an end.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 10:08:10 -0000 full Patrick Boyle Level up your note-taking with Plaud NotePro at https://bit.ly/4c9s3bC and use code PBOYLE for 15% offAmazon: https://amzn.to/4xFP79QIn July 2026, the US Treasury did something it hadn't done since 1998: it intervened in the currency markets to prop up the Japanese yen — and Treasury Secretary Scott Bessent, a former Soros hedge fund manager, ran the trade in the strangest way possible, selling euros instead of dollars without telling the ECB. But this was never really about Japan. It was about protecting American borrowing costs at a moment when the US is paying more to borrow than it has in decades — with 30-year Treasury yields hitting their highest since 2001. This video breaks down the US-Japan yen intervention, the carry trade, the FIMA facility, and Bessent's huge bet on falling interest rates, and asks the real question underneath it all: is the Treasury Secretary a visionary macro trader, or a cornered man making an enormous gamble with the balance sheet of the United States? A look at currency intervention, the eroding "exorbitant privilege" of the dollar, and why America's cheap borrowing may be coming to an end.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Level up your note-taking with Plaud NotePro at https://bit.ly/4c9s3bC and use code PBOYLE for 15% off
Amazon: https://amzn.to/4xFP79Q

In July 2026, the US Treasury did something it hadn't done since 1998: it intervened in the currency markets to prop up the Japanese yen — and Treasury Secretary Scott Bessent, a former Soros hedge fund manager, ran the trade in the strangest way possible, selling euros instead of dollars without telling the ECB. But this was never really about Japan. It was about protecting American borrowing costs at a moment when the US is paying more to borrow than it has in decades — with 30-year Treasury yields hitting their highest since 2001. This video breaks down the US-Japan yen intervention, the carry trade, the FIMA facility, and Bessent's huge bet on falling interest rates, and asks the real question underneath it all: is the Treasury Secretary a visionary macro trader, or a cornered man making an enormous gamble with the balance sheet of the United States? A look at currency intervention, the eroding "exorbitant privilege" of the dollar, and why America's cheap borrowing may be coming to an end.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2495 no What is Options Theta? Time Decay in Financial Options These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is Options Theta?An option's theta is a measurement of the option's time decay. The theta measures the rate at which options lose their value as the expiration date draws nearer. Theta is generally expressed as a negative number, the theta of an option reflects the amount by which the option's value will decrease every day.An ExampleA call option with a current price of $2 and a theta of -0.05 will experience a drop in price of $0.05 per day. So in two days' time, the price of the option should fall to $1.90.Time to Expiration and its Effects on ThetaLonger term options have theta of almost 0 as they do not lose value on a daily basis. Theta is higher for shorter term options, especially at-the-money options. This is pretty obvious as such options have the highest time value and thus have more premium to lose each day.Conversely, theta goes up dramatically as options near expiration as time decay is at its greatest during that period.Changes in Volatility and its Effects on ThetaIn general, options of high volatility stocks have higher theta than low volatility stocks. This is because the time value premium on these options are higher and so they have more to lose per day.what is delta gamma theta vega in options Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 09:52:30 -0000 full Patrick Boyle These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is Options Theta?An option's theta is a measurement of the option's time decay. The theta measures the rate at which options lose their value as the expiration date draws nearer. Theta is generally expressed as a negative number, the theta of an option reflects the amount by which the option's value will decrease every day.An ExampleA call option with a current price of $2 and a theta of -0.05 will experience a drop in price of $0.05 per day. So in two days' time, the price of the option should fall to $1.90.Time to Expiration and its Effects on ThetaLonger term options have theta of almost 0 as they do not lose value on a daily basis. Theta is higher for shorter term options, especially at-the-money options. This is pretty obvious as such options have the highest time value and thus have more premium to lose each day.Conversely, theta goes up dramatically as options near expiration as time decay is at its greatest during that period.Changes in Volatility and its Effects on ThetaIn general, options of high volatility stocks have higher theta than low volatility stocks. This is because the time value premium on these options are higher and so they have more to lose per day.what is delta gamma theta vega in options Learn more about your ad choices. Visit megaphone.fm/adchoices These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

What is Options Theta?

An option's theta is a measurement of the option's time decay. The theta measures the rate at which options lose their value as the expiration date draws nearer. Theta is generally expressed as a negative number, the theta of an option reflects the amount by which the option's value will decrease every day.

An Example
A call option with a current price of $2 and a theta of -0.05 will experience a drop in price of $0.05 per day. So in two days' time, the price of the option should fall to $1.90.

Time to Expiration and its Effects on Theta
Longer term options have theta of almost 0 as they do not lose value on a daily basis. Theta is higher for shorter term options, especially at-the-money options. This is pretty obvious as such options have the highest time value and thus have more premium to lose each day.

Conversely, theta goes up dramatically as options near expiration as time decay is at its greatest during that period.

Changes in Volatility and its Effects on Theta
In general, options of high volatility stocks have higher theta than low volatility stocks. This is because the time value premium on these options are higher and so they have more to lose per day.

what is delta gamma theta vega in options

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 566 no Pricing Options - Revision Lecture These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 09:23:45 -0000 full Patrick Boyle These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 3809 no Pricing Financial Futures (Part 2 of 2) Today we will learn about pricing financial futuresThese classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoylePricing Futures: When the deliverable asset exists in plentiful supply, or may be freely created, then the price of a futures contract is determined via arbitrage arguments. This is typical for stock index futures, treasury bond futures, and futures on physical commodities when they are in supply. When the deliverable commodity is not in plentiful supply or when it does not yet exist — for example on crops before the harvest or on Eurodollar Futures or Federal funds rate futures (in which the supposed underlying instrument is to be created upon the delivery date) — the futures price cannot be fixed by arbitrage. In this scenario there is only one force setting the price, which is simple supply and demand for the asset in the future, as expressed by supply and demand for the futures contract. Make sure you also watch the video on Convenience Yield being released tomorrow. Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 09:05:27 -0000 full Patrick Boyle Today we will learn about pricing financial futuresThese classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoylePricing Futures: When the deliverable asset exists in plentiful supply, or may be freely created, then the price of a futures contract is determined via arbitrage arguments. This is typical for stock index futures, treasury bond futures, and futures on physical commodities when they are in supply. When the deliverable commodity is not in plentiful supply or when it does not yet exist — for example on crops before the harvest or on Eurodollar Futures or Federal funds rate futures (in which the supposed underlying instrument is to be created upon the delivery date) — the futures price cannot be fixed by arbitrage. In this scenario there is only one force setting the price, which is simple supply and demand for the asset in the future, as expressed by supply and demand for the futures contract. Make sure you also watch the video on Convenience Yield being released tomorrow. Learn more about your ad choices. Visit megaphone.fm/adchoices Today we will learn about pricing financial futures

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

Pricing Futures: When the deliverable asset exists in plentiful supply, or may be freely created, then the price of a futures contract is determined via arbitrage arguments. This is typical for stock index futures, treasury bond futures, and futures on physical commodities when they are in supply.

When the deliverable commodity is not in plentiful supply or when it does not yet exist — for example on crops before the harvest or on Eurodollar Futures or Federal funds rate futures (in which the supposed underlying instrument is to be created upon the delivery date) — the futures price cannot be fixed by arbitrage. In this scenario there is only one force setting the price, which is simple supply and demand for the asset in the future, as expressed by supply and demand for the futures contract.

Make sure you also watch the video on Convenience Yield being released tomorrow.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 720 no Bitcoin on the Balance Sheet: Why Companies Are Turning to Crypto as a Treasury Strategy Level up your note-taking with PLAUD NOTE at https://bit.ly/4eFOGEb and use code PBOYLE for 20% OFF during Prime Day!Amazon: https://bit.ly/44r4oOJ#PLAUD#PLAUDNOTE#NoteTakerAs Bitcoin surges into the financial mainstream, a growing number of companies — from obscure microcaps to global tech giants — are transforming themselves into crypto-holding entities. This video explores the rise of the corporate Bitcoin treasury strategy, tracing its origins with MicroStrategy’s dramatic pivot, the global wave of imitators, and the political entanglements reshaping the crypto landscape. With billions in digital assets now sitting on corporate balance sheets, the question is no longer whether Bitcoin belongs in business — but what happens when the music stops.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 08:55:00 -0000 full Patrick Boyle Level up your note-taking with PLAUD NOTE at https://bit.ly/4eFOGEb and use code PBOYLE for 20% OFF during Prime Day!Amazon: https://bit.ly/44r4oOJ#PLAUD#PLAUDNOTE#NoteTakerAs Bitcoin surges into the financial mainstream, a growing number of companies — from obscure microcaps to global tech giants — are transforming themselves into crypto-holding entities. This video explores the rise of the corporate Bitcoin treasury strategy, tracing its origins with MicroStrategy’s dramatic pivot, the global wave of imitators, and the political entanglements reshaping the crypto landscape. With billions in digital assets now sitting on corporate balance sheets, the question is no longer whether Bitcoin belongs in business — but what happens when the music stops.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Level up your note-taking with PLAUD NOTE at https://bit.ly/4eFOGEb and use code PBOYLE for 20% OFF during Prime Day!

Amazon: https://bit.ly/44r4oOJ

#PLAUD#PLAUDNOTE#NoteTaker

As Bitcoin surges into the financial mainstream, a growing number of companies — from obscure microcaps to global tech giants — are transforming themselves into crypto-holding entities. This video explores the rise of the corporate Bitcoin treasury strategy, tracing its origins with MicroStrategy’s dramatic pivot, the global wave of imitators, and the political entanglements reshaping the crypto landscape. With billions in digital assets now sitting on corporate balance sheets, the question is no longer whether Bitcoin belongs in business — but what happens when the music stops.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 1699 no Can Trump's Tariffs Work? Enjoy 10% OFF on all Hoverpens and free shipping to most countries with code PATRICK:North America / UK / International: https://bit.ly/patrickb_noviumEurope: https://bit.ly/patrickb_noviumeuIn today's video we examine Donald Trump's plan to rebalance global trade using tariffs, try to understand the issues with international trade that have been pushing the United States and other countries in this protectionist direction, and if tariffs can be expected to improve the situation or make things worse. We’ll discuss whether Trump could impose his tariffs unilaterally on his first day in office and whether the mere threat of tariffs could be used to improve Americas bargaining power?Subscribe to @PBoyleInterviews here: https://youtu.be/w7sWER7LJd8 Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/joinFurther Reading:Michael Pettis Trade Intervention for Freer Trade: https://carnegieendowment.org/research/2024/10/trade-intervention-for-freer-trade?lang=enCFR The Contentious U.S.-China Trade Relationship: https://www.cfr.org/backgrounder/contentious-us-china-trade-relationship Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 08:26:15 -0000 full Patrick Boyle Enjoy 10% OFF on all Hoverpens and free shipping to most countries with code PATRICK:North America / UK / International: https://bit.ly/patrickb_noviumEurope: https://bit.ly/patrickb_noviumeuIn today's video we examine Donald Trump's plan to rebalance global trade using tariffs, try to understand the issues with international trade that have been pushing the United States and other countries in this protectionist direction, and if tariffs can be expected to improve the situation or make things worse. We’ll discuss whether Trump could impose his tariffs unilaterally on his first day in office and whether the mere threat of tariffs could be used to improve Americas bargaining power?Subscribe to @PBoyleInterviews here: https://youtu.be/w7sWER7LJd8 Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/joinFurther Reading:Michael Pettis Trade Intervention for Freer Trade: https://carnegieendowment.org/research/2024/10/trade-intervention-for-freer-trade?lang=enCFR The Contentious U.S.-China Trade Relationship: https://www.cfr.org/backgrounder/contentious-us-china-trade-relationship Learn more about your ad choices. Visit megaphone.fm/adchoices Enjoy 10% OFF on all Hoverpens and free shipping to most countries with code PATRICK:
North America / UK / International: https://bit.ly/patrickb_novium
Europe: https://bit.ly/patrickb_noviumeu

In today's video we examine Donald Trump's plan to rebalance global trade using tariffs, try to understand the issues with international trade that have been pushing the United States and other countries in this protectionist direction, and if tariffs can be expected to improve the situation or make things worse. We’ll discuss whether Trump could impose his tariffs unilaterally on his first day in office and whether the mere threat of tariffs could be used to improve Americas bargaining power?

Subscribe to @PBoyleInterviews here: https://youtu.be/w7sWER7LJd8

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Further Reading:
Michael Pettis Trade Intervention for Freer Trade: https://carnegieendowment.org/research/2024/10/trade-intervention-for-freer-trade?lang=en
CFR The Contentious U.S.-China Trade Relationship: https://www.cfr.org/backgrounder/contentious-us-china-trade-relationship

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2060 no What are Structured Products? (Part 2) CPPI Constant Proportion Portfolio Insurance In Part two of our series on Structured Products, let's learn about Constant Proportion Portfolio Insurance.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is Constant Proportion Portfolio Insurance (CPPI)? Constant Proportion Portfolio Insurance (CPPI) is a type of portfolio insurance in which the investor sets a floor on the dollar value of their portfolio, then structures asset allocation around that decision. The two asset classes used in CPPI are a risky asset (usually equities or mutual funds) and a conservative asset of either cash, equivalents or treasury bonds. The percentage allocated to each depends on the "cushion" value, defined as current portfolio value minus floor value, and a multiplier coefficient, where a higher number denotes a more aggressive strategy.Understanding Constant Proportion Portfolio Insurance (CPPI) Constant Proportion Portfolio Insurance (CPPI) allows an investor to maintain exposure to the upside potential of a risky asset while providing a capital guarantee against downside risk. The outcome of the CPPI strategy is somewhat similar to that of buying a call option, but does not use option contracts. Thus, CPPI is sometimes referred to as a convex strategy, as opposed to a "concave strategy" like constant mix. Financial institutions sell CPPI products on a variety of risky assets, including equities and credit default swaps.A CPPI fund is a fund where the manager allocates dynamically and regularly exposure to risky assets (underlying such as equities or stock indices) and non-risky assets (bonds, money market funds) in order to ensure the preservation of invested capital.To achieve his goal, the manager defines the "cushion" or the percentage of the fund’s assets that may be put at risk without any effect on the level of protection.The "cushion" is estimated by the difference between the initial value of the product and the present value minimum necessary to provide the capital guarantee at maturity.Using quantitative models, the manager will then compute a level of indexing (or multiplier) to apply to the "cushion" to get the portfolio’s exposure to the risky underlying.The adjustment of indexing level will depend on the dynamic changes of the risky underlying.The more risky assets perform, the stronger indexing level will be, and the more the manager will increase exposure to risky assets.On the other hand, the less risky assets perform, the weaker indexing level will be, and the more the manager will decrease exposure to risky assetsAdvantages: The indexing level may exceed 100% in case of initial good performances of risky assets, and generate a better overall return for the fund.Disadvantages: Risk of monetization (the level of exposure to the risky assets becomes zero) if the risky assets underperform at launch Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 08:02:43 -0000 full Patrick Boyle In Part two of our series on Structured Products, let's learn about Constant Proportion Portfolio Insurance.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is Constant Proportion Portfolio Insurance (CPPI)? Constant Proportion Portfolio Insurance (CPPI) is a type of portfolio insurance in which the investor sets a floor on the dollar value of their portfolio, then structures asset allocation around that decision. The two asset classes used in CPPI are a risky asset (usually equities or mutual funds) and a conservative asset of either cash, equivalents or treasury bonds. The percentage allocated to each depends on the "cushion" value, defined as current portfolio value minus floor value, and a multiplier coefficient, where a higher number denotes a more aggressive strategy.Understanding Constant Proportion Portfolio Insurance (CPPI) Constant Proportion Portfolio Insurance (CPPI) allows an investor to maintain exposure to the upside potential of a risky asset while providing a capital guarantee against downside risk. The outcome of the CPPI strategy is somewhat similar to that of buying a call option, but does not use option contracts. Thus, CPPI is sometimes referred to as a convex strategy, as opposed to a "concave strategy" like constant mix. Financial institutions sell CPPI products on a variety of risky assets, including equities and credit default swaps.A CPPI fund is a fund where the manager allocates dynamically and regularly exposure to risky assets (underlying such as equities or stock indices) and non-risky assets (bonds, money market funds) in order to ensure the preservation of invested capital.To achieve his goal, the manager defines the "cushion" or the percentage of the fund’s assets that may be put at risk without any effect on the level of protection.The "cushion" is estimated by the difference between the initial value of the product and the present value minimum necessary to provide the capital guarantee at maturity.Using quantitative models, the manager will then compute a level of indexing (or multiplier) to apply to the "cushion" to get the portfolio’s exposure to the risky underlying.The adjustment of indexing level will depend on the dynamic changes of the risky underlying.The more risky assets perform, the stronger indexing level will be, and the more the manager will increase exposure to risky assets.On the other hand, the less risky assets perform, the weaker indexing level will be, and the more the manager will decrease exposure to risky assetsAdvantages: The indexing level may exceed 100% in case of initial good performances of risky assets, and generate a better overall return for the fund.Disadvantages: Risk of monetization (the level of exposure to the risky assets becomes zero) if the risky assets underperform at launch Learn more about your ad choices. Visit megaphone.fm/adchoices In Part two of our series on Structured Products, let's learn about Constant Proportion Portfolio Insurance.

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

What is Constant Proportion Portfolio Insurance (CPPI)?
Constant Proportion Portfolio Insurance (CPPI) is a type of portfolio insurance in which the investor sets a floor on the dollar value of their portfolio, then structures asset allocation around that decision. The two asset classes used in CPPI are a risky asset (usually equities or mutual funds) and a conservative asset of either cash, equivalents or treasury bonds. The percentage allocated to each depends on the "cushion" value, defined as current portfolio value minus floor value, and a multiplier coefficient, where a higher number denotes a more aggressive strategy.

Understanding Constant Proportion Portfolio Insurance (CPPI)
Constant Proportion Portfolio Insurance (CPPI) allows an investor to maintain exposure to the upside potential of a risky asset while providing a capital guarantee against downside risk. The outcome of the CPPI strategy is somewhat similar to that of buying a call option, but does not use option contracts. Thus, CPPI is sometimes referred to as a convex strategy, as opposed to a "concave strategy" like constant mix. Financial institutions sell CPPI products on a variety of risky assets, including equities and credit default swaps.

A CPPI fund is a fund where the manager allocates dynamically and regularly exposure to risky assets (underlying such as equities or stock indices) and non-risky assets (bonds, money market funds) in order to ensure the preservation of invested capital.
To achieve his goal, the manager defines the "cushion" or the percentage of the fund’s assets that may be put at risk without any effect on the level of protection.
The "cushion" is estimated by the difference between the initial value of the product and the present value minimum necessary to provide the capital guarantee at maturity.
Using quantitative models, the manager will then compute a level of indexing (or multiplier) to apply to the "cushion" to get the portfolio’s exposure to the risky underlying.
The adjustment of indexing level will depend on the dynamic changes of the risky underlying.
The more risky assets perform, the stronger indexing level will be, and the more the manager will increase exposure to risky assets.
On the other hand, the less risky assets perform, the weaker indexing level will be, and the more the manager will decrease exposure to risky assets

Advantages:
The indexing level may exceed 100% in case of initial good performances of risky assets, and generate a better overall return for the fund.

Disadvantages:
Risk of monetization (the level of exposure to the risky assets becomes zero) if the risky assets underperform at launch

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 556 no The Option Greeks and Hedging - Revision Lecture These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 07:57:30 -0000 full Patrick Boyle These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 3714 no Is AI’s Circular Financing Inflating a Bubble? 🔒 Get 20% off DeleteMe by going to https://joindeleteme.com/BOYLE and use code BOYLE to protect your privacy! 🙌🏻The AI boom isn’t just about algorithms — it’s about money, power, and a race to build infrastructure on a scale we’ve never seen before. In this video, we break down the circular deals between OpenAI, Nvidia, Amazon, Anthropic, and even Elon Musk’s empire — and ask the hard questions: Who’s paying for this? Where will the electricity come from? And is the industry building a Möbius strip of venture capital and gigawatts that could collapse under its own weight?We’ll explore:The spaghetti diagram of AI’s biggest playersOpenAI’s trillion-dollar data center ambitionsWhy Nvidia’s demand might not be what it seemsThe risk of stranded assets and systemic leverageHow geopolitics and energy constraints could shape the futureIf you want to understand the economics behind the hype — and why this might be the biggest corporate investment project in history — watch now.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 07:28:45 -0000 full Patrick Boyle 🔒 Get 20% off DeleteMe by going to https://joindeleteme.com/BOYLE and use code BOYLE to protect your privacy! 🙌🏻The AI boom isn’t just about algorithms — it’s about money, power, and a race to build infrastructure on a scale we’ve never seen before. In this video, we break down the circular deals between OpenAI, Nvidia, Amazon, Anthropic, and even Elon Musk’s empire — and ask the hard questions: Who’s paying for this? Where will the electricity come from? And is the industry building a Möbius strip of venture capital and gigawatts that could collapse under its own weight?We’ll explore:The spaghetti diagram of AI’s biggest playersOpenAI’s trillion-dollar data center ambitionsWhy Nvidia’s demand might not be what it seemsThe risk of stranded assets and systemic leverageHow geopolitics and energy constraints could shape the futureIf you want to understand the economics behind the hype — and why this might be the biggest corporate investment project in history — watch now.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices 🔒 Get 20% off DeleteMe by going to https://joindeleteme.com/BOYLE and use code BOYLE to protect your privacy! 🙌🏻

The AI boom isn’t just about algorithms — it’s about money, power, and a race to build infrastructure on a scale we’ve never seen before. In this video, we break down the circular deals between OpenAI, Nvidia, Amazon, Anthropic, and even Elon Musk’s empire — and ask the hard questions: Who’s paying for this? Where will the electricity come from? And is the industry building a Möbius strip of venture capital and gigawatts that could collapse under its own weight?
We’ll explore:

The spaghetti diagram of AI’s biggest players
OpenAI’s trillion-dollar data center ambitions
Why Nvidia’s demand might not be what it seems
The risk of stranded assets and systemic leverage
How geopolitics and energy constraints could shape the future

If you want to understand the economics behind the hype — and why this might be the biggest corporate investment project in history — watch now.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2008 no Financial Options Pricing History. How do Investors Price Options? Financial Options Pricing History. Today we will learn How do Investors Price Options?These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleUp to now we have looked at how options work and how they can be combined. We have mentioned options premium and how it is made up of time value and intrinsic value. In this video we will look at a few of the most common methods for pricing options. The value of options depends on a number of different variables in addition to the value of the underlying asset. They are complex to value and there are many pricing models in use. All models essentially incorporate the concepts of rational pricing, intrinsic value, time value, and put-call parity. In this video we will give you some insight as to how different variables affect option prices, and we hope to show you that while these methods are extremely useful, they are quite fallible, and can only give you an indication of fair value that is extremely dependent on the inputs into the formulas. The old “garbage in, garbage out” adage is particularly applicable to derivatives valuation—and most of financial mathematics. The formulas we will look at are only as good as the numbers that are put into them and often rely on a number of assumptions that do not always hold up in live securities market trading. They all rely on an estimate of volatility, and on an assumed distribution, that cannot be known in advance.In general, standard option valuation models depend on the following factors:• The current market price of the underlying security• The strike price of the option• The cost of holding a position in the underlying security, including interest and dividends• The time to expiration together with any restrictions on when exercise may occur• An estimate of the future volatility of the underlying security’s price over the life of the option.Options, or option-like contracts have been around for hundreds of years. Only in the 1970s was a formal pricing model introduced..Options contracts are very similar to insurance contracts, and so most of the ideas used to price them came from the insurance business. As early as 1350 in Palermo, insurance contracts were common for casualty and credit risks relating to shipping. The two kinds of insurance were often being written separately. A popular contract was a conditional sale (similar to a put option) where the insurer agreed to purchase ship or cargo if it failed to arrive.Louis Bachelier (1870–1946) was a French mathematician credited with being the first person to model the stochastic process now called Brownian motion, which was part of his PhD thesis “The Theory of Speculation,” published in 1900. His thesis, which discussed the use of Brownian motion to evaluate stock options, is historically the first paper to use advanced mathematics in the study of finance. Thus, Bachelier is considered a pioneer in the study of financial mathematics and stochastic processes. Bachelier’s thesis was not well received because it attempted to apply mathematics to an unfamiliar area for mathematicians. We know the fair value of an options contract at expiration based upon the payoff diagrams, and we know that options are worth more than their value at expiration before the expiration date due to time value.Option value = Intrinsic value + Time valueBefore mathematical formulas existed for pricing options we knew that the fair value of options was higher than intrinsic value, as there was still time for the underlying to move in your favor, but not how much higher the price should be. Option prices, like all market prices, were just a capital weighted average of every market participant’s best gu Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 07:00:00 -0000 full Patrick Boyle Financial Options Pricing History. Today we will learn How do Investors Price Options?These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleUp to now we have looked at how options work and how they can be combined. We have mentioned options premium and how it is made up of time value and intrinsic value. In this video we will look at a few of the most common methods for pricing options. The value of options depends on a number of different variables in addition to the value of the underlying asset. They are complex to value and there are many pricing models in use. All models essentially incorporate the concepts of rational pricing, intrinsic value, time value, and put-call parity. In this video we will give you some insight as to how different variables affect option prices, and we hope to show you that while these methods are extremely useful, they are quite fallible, and can only give you an indication of fair value that is extremely dependent on the inputs into the formulas. The old “garbage in, garbage out” adage is particularly applicable to derivatives valuation—and most of financial mathematics. The formulas we will look at are only as good as the numbers that are put into them and often rely on a number of assumptions that do not always hold up in live securities market trading. They all rely on an estimate of volatility, and on an assumed distribution, that cannot be known in advance.In general, standard option valuation models depend on the following factors:• The current market price of the underlying security• The strike price of the option• The cost of holding a position in the underlying security, including interest and dividends• The time to expiration together with any restrictions on when exercise may occur• An estimate of the future volatility of the underlying security’s price over the life of the option.Options, or option-like contracts have been around for hundreds of years. Only in the 1970s was a formal pricing model introduced..Options contracts are very similar to insurance contracts, and so most of the ideas used to price them came from the insurance business. As early as 1350 in Palermo, insurance contracts were common for casualty and credit risks relating to shipping. The two kinds of insurance were often being written separately. A popular contract was a conditional sale (similar to a put option) where the insurer agreed to purchase ship or cargo if it failed to arrive.Louis Bachelier (1870–1946) was a French mathematician credited with being the first person to model the stochastic process now called Brownian motion, which was part of his PhD thesis “The Theory of Speculation,” published in 1900. His thesis, which discussed the use of Brownian motion to evaluate stock options, is historically the first paper to use advanced mathematics in the study of finance. Thus, Bachelier is considered a pioneer in the study of financial mathematics and stochastic processes. Bachelier’s thesis was not well received because it attempted to apply mathematics to an unfamiliar area for mathematicians. We know the fair value of an options contract at expiration based upon the payoff diagrams, and we know that options are worth more than their value at expiration before the expiration date due to time value.Option value = Intrinsic value + Time valueBefore mathematical formulas existed for pricing options we knew that the fair value of options was higher than intrinsic value, as there was still time for the underlying to move in your favor, but not how much higher the price should be. Option prices, like all market prices, were just a capital weighted average of every market participant’s best gu Learn more about your ad choices. Visit megaphone.fm/adchoices Financial Options Pricing History. Today we will learn How do Investors Price Options?
These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

Up to now we have looked at how options work and how they can be combined. We have mentioned options premium and how it is made up of time value and intrinsic value. In this video we will look at a few of the most common methods for pricing options. The value of options depends on a number of different variables in addition to the value of the underlying asset. They are complex to value and there are many pricing models in use. All models essentially incorporate the concepts of rational pricing, intrinsic value, time value, and put-call parity.

In this video we will give you some insight as to how different variables affect option prices, and we hope to show you that while these methods are extremely useful, they are quite fallible, and can only give you an indication of fair value that is extremely dependent on the inputs into the formulas. The old “garbage in, garbage out” adage is particularly applicable to derivatives valuation—and most of financial mathematics. The formulas we will look at are only as good as the numbers that are put into them and often rely on a number of assumptions that do not always hold up in live securities market trading. They all rely on an estimate of volatility, and on an assumed distribution, that cannot be known in advance.

In general, standard option valuation models depend on the following factors:
• The current market price of the underlying security
• The strike price of the option
• The cost of holding a position in the underlying security, including interest and dividends
• The time to expiration together with any restrictions on when exercise may occur
• An estimate of the future volatility of the underlying security’s price over the life of the option.

Options, or option-like contracts have been around for hundreds of years. Only in the 1970s was a formal pricing model introduced..
Options contracts are very similar to insurance contracts, and so most of the ideas used to price them came from the insurance business. As early as 1350 in Palermo, insurance contracts were common for casualty and credit risks relating to shipping. The two kinds of insurance were often being written separately. A popular contract was a conditional sale (similar to a put option) where the insurer agreed to purchase ship or cargo if it failed to arrive.

Louis Bachelier (1870–1946) was a French mathematician credited with being the first person to model the stochastic process now called Brownian motion, which was part of his PhD thesis “The Theory of Speculation,” published in 1900. His thesis, which discussed the use of Brownian motion to evaluate stock options, is historically the first paper to use advanced mathematics in the study of finance. Thus, Bachelier is considered a pioneer in the study of financial mathematics and stochastic processes. Bachelier’s thesis was not well received because it attempted to apply mathematics to an unfamiliar area for mathematicians.

We know the fair value of an options contract at expiration based upon the payoff diagrams, and we know that options are worth more than their value at expiration before the expiration date due to time value.
Option value = Intrinsic value + Time value
Before mathematical formulas existed for pricing options we knew that the fair value of options was higher than intrinsic value, as there was still time for the underlying to move in your favor, but not how much higher the price should be. Option prices, like all market prices, were just a capital weighted average of every market participant’s best gu

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 778 no What are Dividend Swaps, commodity swaps, equity swaps? In todays video we will learn about Dividend Swaps, Commodity Swaps and Equity Swaps.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat are Dividend Swaps?A dividend swap is an over-the-counter financial derivative contract (in particular a form of swap). It consists of a series of payments made between two parties at defined intervals over a fixed term. One party - the holder of the fixed leg - will pay its counterparty a pre-designated fixed payment at each interval. The other party - the holder of the floating leg - will pay its counterparty the total dividends that were paid out by a selected underlying, which can be a single company, a basket of companies, or all the members of an index. The payments are multiplied by a notional number of shares.Like most swaps, the contract is usually arranged such that its value at signing is zero. This is accomplished by making the value of the fixed leg equal to the value of the floating leg - in other words, the fixed leg will be equal to the average expected dividends over the term of the swap. Therefore, the fixed leg of the swap can be used to estimate market forecasts of the dividends that will be paid out by the underlyingWhat is a Commodity Swap?A commodity swap is a type of swap agreement whereby a floating (or market or spot) price based on an underlying commodity is traded for a fixed price over a specified period.The vast majority of commodity swaps involve oil. Many airline and rail companies enter oil commodity swap deals in order to secure lower oil costs in the long term. A commodity swap is similar to a fixed-floating interest rate swap. The difference is that in an interest rate swap, the floating leg is based on standard interest rates such as LIBOR and EURIBOR. However, in a commodity swap, the floating leg is based on the price of underlying commodity like oil, sugar, and precious metals. No commodities are exchanged during the trade. In this swap, the user of a commodity would secure a maximum price and agree to pay a financial institution this fixed price. Then, in return, the user would get payments based on the market price for the commodity involved. On the other side, a producer wishes to fix the income and would agree to pay the market price to a financial institution, in return for receiving fixed payments for the commodity. What is an equity swap?An equity swap is a financial derivative contract (a swap) where a set of future cash flows are agreed to be exchanged between two counterparties at set dates in the future. The two cash flows are usually referred to as "legs" of the swap; one of these "legs" is usually pegged to a floating rate such as LIBOR. This leg is also commonly referred to as the "floating leg". The other leg of the swap is based on the performance of either a share of stock or a stock market index. This leg is commonly referred to as the "equity leg". Most equity swaps involve a floating leg vs. an equity leg, although some exist with two equity legs. An equity swap involves a notional principal, a specified duration and predetermined payment intervals. The term "tenor" may refer either to the duration or the coupon frequency.Trading and Pricing Financial Derivatives Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 07:00:00 -0000 full Patrick Boyle In todays video we will learn about Dividend Swaps, Commodity Swaps and Equity Swaps.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat are Dividend Swaps?A dividend swap is an over-the-counter financial derivative contract (in particular a form of swap). It consists of a series of payments made between two parties at defined intervals over a fixed term. One party - the holder of the fixed leg - will pay its counterparty a pre-designated fixed payment at each interval. The other party - the holder of the floating leg - will pay its counterparty the total dividends that were paid out by a selected underlying, which can be a single company, a basket of companies, or all the members of an index. The payments are multiplied by a notional number of shares.Like most swaps, the contract is usually arranged such that its value at signing is zero. This is accomplished by making the value of the fixed leg equal to the value of the floating leg - in other words, the fixed leg will be equal to the average expected dividends over the term of the swap. Therefore, the fixed leg of the swap can be used to estimate market forecasts of the dividends that will be paid out by the underlyingWhat is a Commodity Swap?A commodity swap is a type of swap agreement whereby a floating (or market or spot) price based on an underlying commodity is traded for a fixed price over a specified period.The vast majority of commodity swaps involve oil. Many airline and rail companies enter oil commodity swap deals in order to secure lower oil costs in the long term. A commodity swap is similar to a fixed-floating interest rate swap. The difference is that in an interest rate swap, the floating leg is based on standard interest rates such as LIBOR and EURIBOR. However, in a commodity swap, the floating leg is based on the price of underlying commodity like oil, sugar, and precious metals. No commodities are exchanged during the trade. In this swap, the user of a commodity would secure a maximum price and agree to pay a financial institution this fixed price. Then, in return, the user would get payments based on the market price for the commodity involved. On the other side, a producer wishes to fix the income and would agree to pay the market price to a financial institution, in return for receiving fixed payments for the commodity. What is an equity swap?An equity swap is a financial derivative contract (a swap) where a set of future cash flows are agreed to be exchanged between two counterparties at set dates in the future. The two cash flows are usually referred to as "legs" of the swap; one of these "legs" is usually pegged to a floating rate such as LIBOR. This leg is also commonly referred to as the "floating leg". The other leg of the swap is based on the performance of either a share of stock or a stock market index. This leg is commonly referred to as the "equity leg". Most equity swaps involve a floating leg vs. an equity leg, although some exist with two equity legs. An equity swap involves a notional principal, a specified duration and predetermined payment intervals. The term "tenor" may refer either to the duration or the coupon frequency.Trading and Pricing Financial Derivatives Learn more about your ad choices. Visit megaphone.fm/adchoices In todays video we will learn about Dividend Swaps, Commodity Swaps and Equity Swaps.

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

What are Dividend Swaps?
A dividend swap is an over-the-counter financial derivative contract (in particular a form of swap). It consists of a series of payments made between two parties at defined intervals over a fixed term. One party - the holder of the fixed leg - will pay its counterparty a pre-designated fixed payment at each interval. The other party - the holder of the floating leg - will pay its counterparty the total dividends that were paid out by a selected underlying, which can be a single company, a basket of companies, or all the members of an index. The payments are multiplied by a notional number of shares.

Like most swaps, the contract is usually arranged such that its value at signing is zero. This is accomplished by making the value of the fixed leg equal to the value of the floating leg - in other words, the fixed leg will be equal to the average expected dividends over the term of the swap. Therefore, the fixed leg of the swap can be used to estimate market forecasts of the dividends that will be paid out by the underlying


What is a Commodity Swap?

A commodity swap is a type of swap agreement whereby a floating (or market or spot) price based on an underlying commodity is traded for a fixed price over a specified period.

The vast majority of commodity swaps involve oil. Many airline and rail companies enter oil commodity swap deals in order to secure lower oil costs in the long term.

A commodity swap is similar to a fixed-floating interest rate swap. The difference is that in an interest rate swap, the floating leg is based on standard interest rates such as LIBOR and EURIBOR. However, in a commodity swap, the floating leg is based on the price of underlying commodity like oil, sugar, and precious metals. No commodities are exchanged during the trade. In this swap, the user of a commodity would secure a maximum price and agree to pay a financial institution this fixed price. Then, in return, the user would get payments based on the market price for the commodity involved. On the other side, a producer wishes to fix the income and would agree to pay the market price to a financial institution, in return for receiving fixed payments for the commodity.

What is an equity swap?
An equity swap is a financial derivative contract (a swap) where a set of future cash flows are agreed to be exchanged between two counterparties at set dates in the future. The two cash flows are usually referred to as "legs" of the swap; one of these "legs" is usually pegged to a floating rate such as LIBOR. This leg is also commonly referred to as the "floating leg". The other leg of the swap is based on the performance of either a share of stock or a stock market index. This leg is commonly referred to as the "equity leg". Most equity swaps involve a floating leg vs. an equity leg, although some exist with two equity legs.
An equity swap involves a notional principal, a specified duration and predetermined payment intervals. The term "tenor" may refer either to the duration or the coupon frequency.

Trading and Pricing Financial Derivatives

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 457 no YouTube Censorship: The Video They Didn't Want You to See! Get an exclusive 15% discount on Saily data plans! Use code BOYLE at checkout. Download Saily app or go to https://saily.com/boyleTwo days after its release, my analysis of the Epstein files was on track to break every record on this channel. Then the yellow dollar sign appeared, and the video flatlined.In this video, we explore how algorithmic demonetization has evolved into a form of "soft censorship." It isn't a conspiracy, but a broken business model that taxes serious journalism in favor of "brand safe" entertainment. We look back at the Logan Paul "Adpocalypse," examine the structural bias against independent creators, and analyze the alarming decline of U.S. Press Freedom (now ranked #57 globally).From the missing footage in Epstein's cell to the 2020 spike in journalist arrests, we ask the hard question: If the algorithm filters out the "boring" work of holding power to account, does YouTube cease to be a digital public square?Link to the Demonetized videos:https://youtu.be/GAJf2F1BbRA?si=pocxFNV33xXlANqohttps://youtu.be/MG95B0fyuWI?si=ULY-lTHAzqqkAYq2 @VloggingThroughHistory video: https://www.youtube.com/watch?v=SnPrVn24dTEPatrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 06:31:15 -0000 full Patrick Boyle Get an exclusive 15% discount on Saily data plans! Use code BOYLE at checkout. Download Saily app or go to https://saily.com/boyleTwo days after its release, my analysis of the Epstein files was on track to break every record on this channel. Then the yellow dollar sign appeared, and the video flatlined.In this video, we explore how algorithmic demonetization has evolved into a form of "soft censorship." It isn't a conspiracy, but a broken business model that taxes serious journalism in favor of "brand safe" entertainment. We look back at the Logan Paul "Adpocalypse," examine the structural bias against independent creators, and analyze the alarming decline of U.S. Press Freedom (now ranked #57 globally).From the missing footage in Epstein's cell to the 2020 spike in journalist arrests, we ask the hard question: If the algorithm filters out the "boring" work of holding power to account, does YouTube cease to be a digital public square?Link to the Demonetized videos:https://youtu.be/GAJf2F1BbRA?si=pocxFNV33xXlANqohttps://youtu.be/MG95B0fyuWI?si=ULY-lTHAzqqkAYq2 @VloggingThroughHistory video: https://www.youtube.com/watch?v=SnPrVn24dTEPatrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Get an exclusive 15% discount on Saily data plans! Use code BOYLE at checkout. Download Saily app or go to https://saily.com/boyle

Two days after its release, my analysis of the Epstein files was on track to break every record on this channel. Then the yellow dollar sign appeared, and the video flatlined.

In this video, we explore how algorithmic demonetization has evolved into a form of "soft censorship." It isn't a conspiracy, but a broken business model that taxes serious journalism in favor of "brand safe" entertainment. We look back at the Logan Paul "Adpocalypse," examine the structural bias against independent creators, and analyze the alarming decline of U.S. Press Freedom (now ranked #57 globally).

From the missing footage in Epstein's cell to the 2020 spike in journalist arrests, we ask the hard question: If the algorithm filters out the "boring" work of holding power to account, does YouTube cease to be a digital public square?

Link to the Demonetized videos:
https://youtu.be/GAJf2F1BbRA?si=pocxFNV33xXlANqo
https://youtu.be/MG95B0fyuWI?si=ULY-lTHAzqqkAYq2

@VloggingThroughHistory video: https://www.youtube.com/watch?v=SnPrVn24dTE

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 1680 no Does OpenAI expect a Government Bailout? 🔒 Get 20% off DeleteMe by going to https://joindeleteme.com/BOYLE and use code BOYLE to protect your privacy! 🙌🏻OpenAI has signed $1.4 trillion in infrastructure commitments, but how do they plan to pay for it? Are government subsidies and taxpayer-backed guarantees the next step? In this video, we dive into the financing gymnastics behind the AI revolution, the lobbying for federal support, and why tech firms are pitching AI as “too important to fail.”We’ll cover:✅ OpenAI’s $1.4 trillion data center buildout✅ The push for government backstops and subsidies✅ Nvidia’s warning on energy and capital constraints✅ Why AI could strain power grids and utilities✅ The risk of an AI “metabubble” and what it means for investorsWatch Sarah Friar's Interview @wsj https://www.youtube.com/watch?v=8guZhBw4Z3gPatrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 06:02:30 -0000 full Patrick Boyle 🔒 Get 20% off DeleteMe by going to https://joindeleteme.com/BOYLE and use code BOYLE to protect your privacy! 🙌🏻OpenAI has signed $1.4 trillion in infrastructure commitments, but how do they plan to pay for it? Are government subsidies and taxpayer-backed guarantees the next step? In this video, we dive into the financing gymnastics behind the AI revolution, the lobbying for federal support, and why tech firms are pitching AI as “too important to fail.”We’ll cover:✅ OpenAI’s $1.4 trillion data center buildout✅ The push for government backstops and subsidies✅ Nvidia’s warning on energy and capital constraints✅ Why AI could strain power grids and utilities✅ The risk of an AI “metabubble” and what it means for investorsWatch Sarah Friar's Interview @wsj https://www.youtube.com/watch?v=8guZhBw4Z3gPatrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices 🔒 Get 20% off DeleteMe by going to https://joindeleteme.com/BOYLE and use code BOYLE to protect your privacy! 🙌🏻

OpenAI has signed $1.4 trillion in infrastructure commitments, but how do they plan to pay for it? Are government subsidies and taxpayer-backed guarantees the next step? In this video, we dive into the financing gymnastics behind the AI revolution, the lobbying for federal support, and why tech firms are pitching AI as “too important to fail.”
We’ll cover:
✅ OpenAI’s $1.4 trillion data center buildout
✅ The push for government backstops and subsidies
✅ Nvidia’s warning on energy and capital constraints
✅ Why AI could strain power grids and utilities
✅ The risk of an AI “metabubble” and what it means for investors

Watch Sarah Friar's Interview @wsj https://www.youtube.com/watch?v=8guZhBw4Z3g

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
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]]> 2068 no Big Tech is Going Nuclear! ⚡️Start designing today with Gamma for free ➡️ https://gamma.appBig tech companies like Microsoft, Amazon and Google are driving the nuclear revival, as to get new power-hungry data centers built in the US and Europe, they have to solve the problem of power generation. Their net zero pledges mean that the sources of power that they have pledged to use have to be low carbon, and they have already invested heavily in wind and solar, but their data centers still need a steady base load, so for big tech, investing in nuclear energy makes a lot of sense. Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle@PracticalEngineeringChannel Connecting Solar to the Grid is Harder Than You Think: https://www.youtube.com/watch?v=7G4ipM2qjfwBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 05:57:16 -0000 full Patrick Boyle ⚡️Start designing today with Gamma for free ➡️ https://gamma.appBig tech companies like Microsoft, Amazon and Google are driving the nuclear revival, as to get new power-hungry data centers built in the US and Europe, they have to solve the problem of power generation. Their net zero pledges mean that the sources of power that they have pledged to use have to be low carbon, and they have already invested heavily in wind and solar, but their data centers still need a steady base load, so for big tech, investing in nuclear energy makes a lot of sense. Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle@PracticalEngineeringChannel Connecting Solar to the Grid is Harder Than You Think: https://www.youtube.com/watch?v=7G4ipM2qjfwBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices ⚡️Start designing today with Gamma for free ➡️ https://gamma.app

Big tech companies like Microsoft, Amazon and Google are driving the nuclear revival, as to get new power-hungry data centers built in the US and Europe, they have to solve the problem of power generation. Their net zero pledges mean that the sources of power that they have pledged to use have to be low carbon, and they have already invested heavily in wind and solar, but their data centers still need a steady base load, so for big tech, investing in nuclear energy makes a lot of sense.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

@PracticalEngineeringChannel Connecting Solar to the Grid is Harder Than You Think: https://www.youtube.com/watch?v=7G4ipM2qjfw

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

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]]> 1997 no AI and the Death of the Career Ladder Check out OpenDots ONE: https://sdqk.shokz.com/PatrickBoyle/ks9vcQRP?utm_content=linkGet 30% OFF the OpenDots ONE. Save an extra 5% with my code PATRICK5, plus a limited Buy One, Get One (BOGO).For decades, a university degree was the golden ticket to a stable career and upward mobility. That promise is breaking down. Graduate unemployment is rising, entry-level jobs are disappearing, and automation is hollowing out the first rung of the corporate ladder.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 05:33:45 -0000 full Patrick Boyle Check out OpenDots ONE: https://sdqk.shokz.com/PatrickBoyle/ks9vcQRP?utm_content=linkGet 30% OFF the OpenDots ONE. Save an extra 5% with my code PATRICK5, plus a limited Buy One, Get One (BOGO).For decades, a university degree was the golden ticket to a stable career and upward mobility. That promise is breaking down. Graduate unemployment is rising, entry-level jobs are disappearing, and automation is hollowing out the first rung of the corporate ladder.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Check out OpenDots ONE: https://sdqk.shokz.com/PatrickBoyle/ks9vcQRP?utm_content=link
Get 30% OFF the OpenDots ONE. Save an extra 5% with my code PATRICK5, plus a limited Buy One, Get One (BOGO).

For decades, a university degree was the golden ticket to a stable career and upward mobility. That promise is breaking down. Graduate unemployment is rising, entry-level jobs are disappearing, and automation is hollowing out the first rung of the corporate ladder.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

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]]> 1934 no The UK To Enter The Worst Recession for Over 300 Years According to The Bank Of England. In todays video we will talk about the Bank of England’s forecast that the Coronavirus epidemic will push the UK economy into its deepest recession in 300 years and their decision not to provide any new stimulus right away.Buy The Book Here: https://amzn.to/2J2kF3AVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleThe Bank of England in its monetary policy report this morning put forth its predictions for the UK economy.Suggesting that output would fall 3% in the first quarter followed by 25% in the second quarter an almost 30% drop in output drop in the first half of 2020 the fastest and deepest recession since the great frost in 1709.The great frost of 1709 saw three months of deadly cold that led to a year of famine and food riots in Europe. everything turned to ice. Lakes and rivers and seas froze, the soil froze to a depth of a meter or more. Livestock died from cold in their barns and travelers froze to death on the roads.The last time we have had an annual drop in real GDP of more than 4.5% was in 1945. The last time we have had an annual drop in real GDP of greater than 10% was in 1709.These economic projections came with a warning to Britain’s banks that if they tried to stem losses by restricting lending, they would make the situation worse.Andrew Bailey, the BoE governor, said a failure to lend would create a vicious circle of more bankruptcies and higher losses on loans that would come back to hit the banks themselves.Mr Bailey said: “The better path for banks is to keep lending if the system ensures a good supply of loans, we’ll get a better outcome.”Commercial banks responded that they were committed to lending through the crisis.the BoE warned that, even with adequate lending, the economy was bound to take a big hit; household spending has already dropped about 30 per cent since early March.The central bank forecast that the UK’s unemployment rate was likely to rise to 9 per cent by next year, even with the government’s job retention scheme protecting many employees from being laid off. That would mean a higher rate of joblessness than after the 2008 financial crisis. They forecast that inflation would dip to 0.5 per cent in 2021, before returning to the 2 per cent target the following year.On a more positive note, Mr Bailey said the economic rebound was likely to happen “much more rapidly than the pullback from the global financial crisis”. They assume that long-term damage to the economy would be only 1.5 per cent GDP coming from missed business investment in 2020. Otherwise the prediction is for a V-shaped recovery.Bailey defended the decision not to take more immediate action, saying the measures announced in March had not been exhausted and that they have made a very clear commitment to do what it takes to support the economy consistent with the inflation target.All MPC members agreed that more stimulus might be needed in future. The central bank is signalling that more QE is in the pipeline.The BoE analyzed if the financial system could cope with their expected recession. They say that that banks will lose less money than in their latest stress test and that “the core banking system has capital buffers more than sufficient to absorb losses”. The BoE did stress that the pandemic would severely hit corporate cash flow. Government support would plug some of the gap, but there remains a £60bn additional deficit that banks would need to cover to stop viable businesses from going under. The central bank warned that if banks failed to provide credit to their business customers, they might see a short-term benefit in reduced losses, but this would cause more companies to fail and unemployment to rise another 2 percentage points, ultimately leading to larger losses. Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 05:27:16 -0000 full Patrick Boyle In todays video we will talk about the Bank of England’s forecast that the Coronavirus epidemic will push the UK economy into its deepest recession in 300 years and their decision not to provide any new stimulus right away.Buy The Book Here: https://amzn.to/2J2kF3AVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleThe Bank of England in its monetary policy report this morning put forth its predictions for the UK economy.Suggesting that output would fall 3% in the first quarter followed by 25% in the second quarter an almost 30% drop in output drop in the first half of 2020 the fastest and deepest recession since the great frost in 1709.The great frost of 1709 saw three months of deadly cold that led to a year of famine and food riots in Europe. everything turned to ice. Lakes and rivers and seas froze, the soil froze to a depth of a meter or more. Livestock died from cold in their barns and travelers froze to death on the roads.The last time we have had an annual drop in real GDP of more than 4.5% was in 1945. The last time we have had an annual drop in real GDP of greater than 10% was in 1709.These economic projections came with a warning to Britain’s banks that if they tried to stem losses by restricting lending, they would make the situation worse.Andrew Bailey, the BoE governor, said a failure to lend would create a vicious circle of more bankruptcies and higher losses on loans that would come back to hit the banks themselves.Mr Bailey said: “The better path for banks is to keep lending if the system ensures a good supply of loans, we’ll get a better outcome.”Commercial banks responded that they were committed to lending through the crisis.the BoE warned that, even with adequate lending, the economy was bound to take a big hit; household spending has already dropped about 30 per cent since early March.The central bank forecast that the UK’s unemployment rate was likely to rise to 9 per cent by next year, even with the government’s job retention scheme protecting many employees from being laid off. That would mean a higher rate of joblessness than after the 2008 financial crisis. They forecast that inflation would dip to 0.5 per cent in 2021, before returning to the 2 per cent target the following year.On a more positive note, Mr Bailey said the economic rebound was likely to happen “much more rapidly than the pullback from the global financial crisis”. They assume that long-term damage to the economy would be only 1.5 per cent GDP coming from missed business investment in 2020. Otherwise the prediction is for a V-shaped recovery.Bailey defended the decision not to take more immediate action, saying the measures announced in March had not been exhausted and that they have made a very clear commitment to do what it takes to support the economy consistent with the inflation target.All MPC members agreed that more stimulus might be needed in future. The central bank is signalling that more QE is in the pipeline.The BoE analyzed if the financial system could cope with their expected recession. They say that that banks will lose less money than in their latest stress test and that “the core banking system has capital buffers more than sufficient to absorb losses”. The BoE did stress that the pandemic would severely hit corporate cash flow. Government support would plug some of the gap, but there remains a £60bn additional deficit that banks would need to cover to stop viable businesses from going under. The central bank warned that if banks failed to provide credit to their business customers, they might see a short-term benefit in reduced losses, but this would cause more companies to fail and unemployment to rise another 2 percentage points, ultimately leading to larger losses. Learn more about your ad choices. Visit megaphone.fm/adchoices In todays video we will talk about the Bank of England’s forecast that the Coronavirus epidemic will push the UK economy into its deepest recession in 300 years and their decision not to provide any new stimulus right away.

Buy The Book Here: https://amzn.to/2J2kF3A
Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

The Bank of England in its monetary policy report this morning put forth its predictions for the UK economy.
Suggesting that output would fall 3% in the first quarter followed by 25% in the second quarter an almost 30% drop in output drop in the first half of 2020 the fastest and deepest recession since the great frost in 1709.
The great frost of 1709 saw three months of deadly cold that led to a year of famine and food riots in Europe. everything turned to ice. Lakes and rivers and seas froze, the soil froze to a depth of a meter or more. Livestock died from cold in their barns and travelers froze to death on the roads.
The last time we have had an annual drop in real GDP of more than 4.5% was in 1945. The last time we have had an annual drop in real GDP of greater than 10% was in 1709.
These economic projections came with a warning to Britain’s banks that if they tried to stem losses by restricting lending, they would make the situation worse.
Andrew Bailey, the BoE governor, said a failure to lend would create a vicious circle of more bankruptcies and higher losses on loans that would come back to hit the banks themselves.
Mr Bailey said: “The better path for banks is to keep lending if the system ensures a good supply of loans, we’ll get a better outcome.”
Commercial banks responded that they were committed to lending through the crisis.
the BoE warned that, even with adequate lending, the economy was bound to take a big hit; household spending has already dropped about 30 per cent since early March.
The central bank forecast that the UK’s unemployment rate was likely to rise to 9 per cent by next year, even with the government’s job retention scheme protecting many employees from being laid off. That would mean a higher rate of joblessness than after the 2008 financial crisis. They forecast that inflation would dip to 0.5 per cent in 2021, before returning to the 2 per cent target the following year.
On a more positive note, Mr Bailey said the economic rebound was likely to happen “much more rapidly than the pullback from the global financial crisis”.

They assume that long-term damage to the economy would be only 1.5 per cent GDP coming from missed business investment in 2020. Otherwise the prediction is for a V-shaped recovery.
Bailey defended the decision not to take more immediate action, saying the measures announced in March had not been exhausted and that they have made a very clear commitment to do what it takes to support the economy consistent with the inflation target.
All MPC members agreed that more stimulus might be needed in future. The central bank is signalling that more QE is in the pipeline.

The BoE analyzed if the financial system could cope with their expected recession.
They say that that banks will lose less money than in their latest stress test and that “the core banking system has capital buffers more than sufficient to absorb losses”.
The BoE did stress that the pandemic would severely hit corporate cash flow. Government support would plug some of the gap, but there remains a £60bn additional deficit that banks would need to cover to stop viable businesses from going under.
The central bank warned that if banks failed to provide credit to their business customers, they might see a short-term benefit in reduced losses, but this would cause more companies to fail and unemployment to rise another 2 percentage points, ultimately leading to larger losses.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 536 no Pricing American Options using the Binomial Tree Method. - Options Trading Classes These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleThis is the fifth video in our series on pricing options. The whole series is collected as a playlist here: https://www.youtube.com/watch?v=LHaftRA2N8A&list=PLHC72UlhAthDq-s_jRepKDrsaeGDU3PaJIf you are new to options pricing and binomial trees it might make sense to watch some of the other videos first.Binomial Trees and American OptionsAmerican options can be exercised anytime up to maturity, as opposed to European options which can only be exercised at maturity. Binomial trees can be used to price American options with the only modification needed is to evaluate at each node as to whether there is more value associated with exercising or holding the option to expiration. The highest of these two values is used in calculating the option value. In the two-step American binomial tree valuation shown in this video, we are using the same example as in our last video but with the option now American. In this case, at T1 it would be optimal to early-exercise. Thus the valuation at the first down node is in fact the early-exercise valuation, which is the intrinsic value at that node, as opposed to the valuation achieved from the risk-neutral valuation for fd. At time zero, the valuation of the derivative is based on fu as usual, but the fd value input into the formula for f is the early exercise cash flow.To watch the video where we priced the same put option, but as a European option, click here. https://www.youtube.com/watch?v=nN4tOYVqf9oPricing American Options using the Binomial Tree Methodmulti step binomial trees Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 05:05:00 -0000 full Patrick Boyle These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleThis is the fifth video in our series on pricing options. The whole series is collected as a playlist here: https://www.youtube.com/watch?v=LHaftRA2N8A&list=PLHC72UlhAthDq-s_jRepKDrsaeGDU3PaJIf you are new to options pricing and binomial trees it might make sense to watch some of the other videos first.Binomial Trees and American OptionsAmerican options can be exercised anytime up to maturity, as opposed to European options which can only be exercised at maturity. Binomial trees can be used to price American options with the only modification needed is to evaluate at each node as to whether there is more value associated with exercising or holding the option to expiration. The highest of these two values is used in calculating the option value. In the two-step American binomial tree valuation shown in this video, we are using the same example as in our last video but with the option now American. In this case, at T1 it would be optimal to early-exercise. Thus the valuation at the first down node is in fact the early-exercise valuation, which is the intrinsic value at that node, as opposed to the valuation achieved from the risk-neutral valuation for fd. At time zero, the valuation of the derivative is based on fu as usual, but the fd value input into the formula for f is the early exercise cash flow.To watch the video where we priced the same put option, but as a European option, click here. https://www.youtube.com/watch?v=nN4tOYVqf9oPricing American Options using the Binomial Tree Methodmulti step binomial trees Learn more about your ad choices. Visit megaphone.fm/adchoices These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

This is the fifth video in our series on pricing options. The whole series is collected as a playlist here: https://www.youtube.com/watch?v=LHaftRA2N8A&list=PLHC72UlhAthDq-s_jRepKDrsaeGDU3PaJ

If you are new to options pricing and binomial trees it might make sense to watch some of the other videos first.

Binomial Trees and American Options
American options can be exercised anytime up to maturity, as opposed to European options which can only be exercised at maturity. Binomial trees can be used to price American options with the only modification needed is to evaluate at each node as to whether there is more value associated with exercising or holding the option to expiration. The highest of these two values is used in calculating the option value.

In the two-step American binomial tree valuation shown in this video, we are using the same example as in our last video but with the option now American. In this case, at T1 it would be optimal to early-exercise. Thus the valuation at the first down node is in fact the early-exercise valuation, which is the intrinsic value at that node, as opposed to the valuation achieved from the risk-neutral valuation for fd. At time zero, the valuation of the derivative is based on fu as usual, but the fd value input into the formula for f is the early exercise cash flow.

To watch the video where we priced the same put option, but as a European option, click here. https://www.youtube.com/watch?v=nN4tOYVqf9o

Pricing American Options using the Binomial Tree Method
multi step binomial trees

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 829 no What are Credit Derivatives? In Todays video we will learn all about Credit Derivatives including Asset Backed Securities (ABS) Credit Default Swaps (CDS) and Collateralized Debt Obligations (CDO's)These classes are all based on the book Derivatives For The Trading Floor, available on Amazon at this link. https://amzn.to/3GdLi2s Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat are Credit Derivatives?In finance, a credit derivative refers to any one of "various instruments designed to separate and then transfer the credit risk" or the risk of an event of default of a corporate or sovereign borrower, transferring it to an entity other than the lender or debtholder.An unfunded credit derivative is one where credit protection is bought and sold between bilateral counterparties without the protection seller having to put up money upfront or at any given time during the life of the deal unless an event of default occurs. Usually these contracts are traded pursuant to an International Swaps and Derivatives Association (ISDA) master agreement. Most credit derivatives of this sort are credit default swaps. If the credit derivative is entered into by a financial institution or a special purpose vehicle (SPV) and payments under the credit derivative are funded using securitization techniques, such that a debt obligation is issued by the financial institution or SPV to support these obligations, this is known as a funded credit derivative.This synthetic securitization process has become increasingly popular over the last decade, with the simple versions of these structures being known as synthetic collateralized debt obligations (CDOs), credit-linked notes or single-tranche CDOs. In funded credit derivatives, transactions are often rated by rating agencies, which allows investors to take different slices of credit risk according to their risk appetite.The market in credit derivatives started in 1993 after having been pioneered by J.P. Morgan. By 1996 there was around $40 billion of outstanding transactions, half of which involved the debt of developing countries.Credit default products are the most commonly traded credit derivative products and include unfunded products such as credit default swaps and funded products such as collateralized debt obligations.Credit market participants, regulators, and courts are increasingly using credit derivative pricing to help inform decisions about loan pricing, risk management, capital requirements, and legal liability. The ISDA reported in April 2007 that total notional amount on outstanding credit derivatives was $35.1 trillion with a gross market value of $948 billion. Although the credit derivatives market is a global one, London has a market share of about 40%, with the rest of Europe having about 10%.The main market participants are banks, hedge funds, insurance companies, pension funds, and other corporates.What is a credit derivative? Trading and Pricing Financial Derivatives Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 04:54:32 -0000 full Patrick Boyle In Todays video we will learn all about Credit Derivatives including Asset Backed Securities (ABS) Credit Default Swaps (CDS) and Collateralized Debt Obligations (CDO's)These classes are all based on the book Derivatives For The Trading Floor, available on Amazon at this link. https://amzn.to/3GdLi2s Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat are Credit Derivatives?In finance, a credit derivative refers to any one of "various instruments designed to separate and then transfer the credit risk" or the risk of an event of default of a corporate or sovereign borrower, transferring it to an entity other than the lender or debtholder.An unfunded credit derivative is one where credit protection is bought and sold between bilateral counterparties without the protection seller having to put up money upfront or at any given time during the life of the deal unless an event of default occurs. Usually these contracts are traded pursuant to an International Swaps and Derivatives Association (ISDA) master agreement. Most credit derivatives of this sort are credit default swaps. If the credit derivative is entered into by a financial institution or a special purpose vehicle (SPV) and payments under the credit derivative are funded using securitization techniques, such that a debt obligation is issued by the financial institution or SPV to support these obligations, this is known as a funded credit derivative.This synthetic securitization process has become increasingly popular over the last decade, with the simple versions of these structures being known as synthetic collateralized debt obligations (CDOs), credit-linked notes or single-tranche CDOs. In funded credit derivatives, transactions are often rated by rating agencies, which allows investors to take different slices of credit risk according to their risk appetite.The market in credit derivatives started in 1993 after having been pioneered by J.P. Morgan. By 1996 there was around $40 billion of outstanding transactions, half of which involved the debt of developing countries.Credit default products are the most commonly traded credit derivative products and include unfunded products such as credit default swaps and funded products such as collateralized debt obligations.Credit market participants, regulators, and courts are increasingly using credit derivative pricing to help inform decisions about loan pricing, risk management, capital requirements, and legal liability. The ISDA reported in April 2007 that total notional amount on outstanding credit derivatives was $35.1 trillion with a gross market value of $948 billion. Although the credit derivatives market is a global one, London has a market share of about 40%, with the rest of Europe having about 10%.The main market participants are banks, hedge funds, insurance companies, pension funds, and other corporates.What is a credit derivative? Trading and Pricing Financial Derivatives Learn more about your ad choices. Visit megaphone.fm/adchoices In Todays video we will learn all about Credit Derivatives including Asset Backed Securities (ABS) Credit Default Swaps (CDS) and Collateralized Debt Obligations (CDO's)

These classes are all based on the book Derivatives For The Trading Floor, available on Amazon at this link. https://amzn.to/3GdLi2s
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

What are Credit Derivatives?

In finance, a credit derivative refers to any one of "various instruments designed to separate and then transfer the credit risk" or the risk of an event of default of a corporate or sovereign borrower, transferring it to an entity other than the lender or debtholder.

An unfunded credit derivative is one where credit protection is bought and sold between bilateral counterparties without the protection seller having to put up money upfront or at any given time during the life of the deal unless an event of default occurs. Usually these contracts are traded pursuant to an International Swaps and Derivatives Association (ISDA) master agreement. Most credit derivatives of this sort are credit default swaps. If the credit derivative is entered into by a financial institution or a special purpose vehicle (SPV) and payments under the credit derivative are funded using securitization techniques, such that a debt obligation is issued by the financial institution or SPV to support these obligations, this is known as a funded credit derivative.

This synthetic securitization process has become increasingly popular over the last decade, with the simple versions of these structures being known as synthetic collateralized debt obligations (CDOs), credit-linked notes or single-tranche CDOs. In funded credit derivatives, transactions are often rated by rating agencies, which allows investors to take different slices of credit risk according to their risk appetite.

The market in credit derivatives started in 1993 after having been pioneered by J.P. Morgan. By 1996 there was around $40 billion of outstanding transactions, half of which involved the debt of developing countries.

Credit default products are the most commonly traded credit derivative products and include unfunded products such as credit default swaps and funded products such as collateralized debt obligations.

Credit market participants, regulators, and courts are increasingly using credit derivative pricing to help inform decisions about loan pricing, risk management, capital requirements, and legal liability. The ISDA reported in April 2007 that total notional amount on outstanding credit derivatives was $35.1 trillion with a gross market value of $948 billion.

Although the credit derivatives market is a global one, London has a market share of about 40%, with the rest of Europe having about 10%.

The main market participants are banks, hedge funds, insurance companies, pension funds, and other corporates.



















What is a credit derivative? Trading and Pricing Financial Derivatives

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]]> 855 no What is Value at Risk? VaR and Risk Management In todays video we learn about Value at Risk (VaR) and how is it calculated?Buy The Book Here: https://amzn.to/37HIdEBFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleWhat Is Value at Risk (VaR)? Value at risk (VaR) is a calculation that aims to quantify the level of financial risk within a firm, portfolio or position over a specific time frame. This metric is most commonly used by investment and commercial banks to determine the extent and occurrence ratio of potential losses in their institutional portfolios.Risk managers use VaR to measure and control the level of risk exposure. One can apply VaR calculations to specific positions or whole portfolios or to measure firm-wide risk exposure.VaR modeling aims to calculate the potential for loss in the portfolio being assessed and the probability of occurrence for the defined loss. One measures VaR by assessing the amount of potential loss, the probability of occurrence for the amount of loss, and the timeframe involved.A VaR calculation based on data from a period of low volatility may understate the potential for risk events to occur and the magnitude of those events. Risk may be further understated using normal distribution probabilities, which rarely account for extreme or black-swan events.The financial crisis of 2008 exposed many of the problems with VaR as relatively benign VaR calculations understated the potential occurrence of loss events posed by portfolios of subprime mortgages. Risk was underestimated, which resulted in extreme leverage ratios within subprime portfolios. As a result, the underestimations of occurrence and risk magnitude left institutions unable to cover billions of dollars in losses as subprime mortgage values collapsed.Risk Management Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 04:36:15 -0000 full Patrick Boyle In todays video we learn about Value at Risk (VaR) and how is it calculated?Buy The Book Here: https://amzn.to/37HIdEBFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleWhat Is Value at Risk (VaR)? Value at risk (VaR) is a calculation that aims to quantify the level of financial risk within a firm, portfolio or position over a specific time frame. This metric is most commonly used by investment and commercial banks to determine the extent and occurrence ratio of potential losses in their institutional portfolios.Risk managers use VaR to measure and control the level of risk exposure. One can apply VaR calculations to specific positions or whole portfolios or to measure firm-wide risk exposure.VaR modeling aims to calculate the potential for loss in the portfolio being assessed and the probability of occurrence for the defined loss. One measures VaR by assessing the amount of potential loss, the probability of occurrence for the amount of loss, and the timeframe involved.A VaR calculation based on data from a period of low volatility may understate the potential for risk events to occur and the magnitude of those events. Risk may be further understated using normal distribution probabilities, which rarely account for extreme or black-swan events.The financial crisis of 2008 exposed many of the problems with VaR as relatively benign VaR calculations understated the potential occurrence of loss events posed by portfolios of subprime mortgages. Risk was underestimated, which resulted in extreme leverage ratios within subprime portfolios. As a result, the underestimations of occurrence and risk magnitude left institutions unable to cover billions of dollars in losses as subprime mortgage values collapsed.Risk Management Learn more about your ad choices. Visit megaphone.fm/adchoices In todays video we learn about Value at Risk (VaR) and how is it calculated?
Buy The Book Here: https://amzn.to/37HIdEB

Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

What Is Value at Risk (VaR)?
Value at risk (VaR) is a calculation that aims to quantify the level of financial risk within a firm, portfolio or position over a specific time frame. This metric is most commonly used by investment and commercial banks to determine the extent and occurrence ratio of potential losses in their institutional portfolios.

Risk managers use VaR to measure and control the level of risk exposure. One can apply VaR calculations to specific positions or whole portfolios or to measure firm-wide risk exposure.


VaR modeling aims to calculate the potential for loss in the portfolio being assessed and the probability of occurrence for the defined loss. One measures VaR by assessing the amount of potential loss, the probability of occurrence for the amount of loss, and the timeframe involved.

A VaR calculation based on data from a period of low volatility may understate the potential for risk events to occur and the magnitude of those events. Risk may be further understated using normal distribution probabilities, which rarely account for extreme or black-swan events.

The financial crisis of 2008 exposed many of the problems with VaR as relatively benign VaR calculations understated the potential occurrence of loss events posed by portfolios of subprime mortgages. Risk was underestimated, which resulted in extreme leverage ratios within subprime portfolios. As a result, the underestimations of occurrence and risk magnitude left institutions unable to cover billions of dollars in losses as subprime mortgage values collapsed.


Risk Management

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]]> 579 no How Big Tech Is Quietly Taking Over AI (Without Mergers) 😎 Get an exclusive 15% discount on Saily data plans! Use code BOYLE at checkout. Download Saily app or go to https://saily.com/boyleIn the race to dominate generative AI, Big Tech firms haven’t just been building, they’ve been buying. But there’s something strange about most of the deals that they have struck. Companies like Meta, Microsoft, Amazon, Google, and Nvidia are embedding themselves deep within the AI ecosystem through strategic investments, exclusive partnerships, and talent acquisitions- with deals that stop just short of formal takeovers, but the economic impact of these deals it turns out – is indistinguishable from full control.Drayton D'Silva Substack Article: https://enterprisevalue.substack.com/if-i-did-itPatrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 04:07:30 -0000 full Patrick Boyle 😎 Get an exclusive 15% discount on Saily data plans! Use code BOYLE at checkout. Download Saily app or go to https://saily.com/boyleIn the race to dominate generative AI, Big Tech firms haven’t just been building, they’ve been buying. But there’s something strange about most of the deals that they have struck. Companies like Meta, Microsoft, Amazon, Google, and Nvidia are embedding themselves deep within the AI ecosystem through strategic investments, exclusive partnerships, and talent acquisitions- with deals that stop just short of formal takeovers, but the economic impact of these deals it turns out – is indistinguishable from full control.Drayton D'Silva Substack Article: https://enterprisevalue.substack.com/if-i-did-itPatrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices 😎 Get an exclusive 15% discount on Saily data plans! Use code BOYLE at checkout. Download Saily app or go to https://saily.com/boyle

In the race to dominate generative AI, Big Tech firms haven’t just been building, they’ve been buying. But there’s something strange about most of the deals that they have struck. Companies like Meta, Microsoft, Amazon, Google, and Nvidia are embedding themselves deep within the AI ecosystem through strategic investments, exclusive partnerships, and talent acquisitions- with deals that stop just short of formal takeovers, but the economic impact of these deals it turns out – is indistinguishable from full control.

Drayton D'Silva Substack Article: https://enterprisevalue.substack.com/if-i-did-it

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

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]]> 2025 no What is a Derivatives Clearing House? What do they do? What is a Derivatives Clearing House? What do they do?These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleAfter legally-binding trade between a buyer and a seller, the role of the clearing house is to centralize and standardize all of the steps leading up to the settlement of the transaction. The purpose is to reduce the cost, settlement risk and operational risk of clearing and settling multiple transactions among multiple parties. In addition to the above services, central counterparty clearing (CCP) takes on counterparty risk by stepping in between the original buyer and seller of a financial contract, such as a derivative. The role of the CCP is to perform the obligations under the contract agreed between the two counterparties, thereby removing the counterparty risk the parties of the contract had to each other and replacing it with counterparty risk to a highly regulated central counterparty that specializes in managing and mitigating counterparty risk. Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 03:51:49 -0000 full Patrick Boyle What is a Derivatives Clearing House? What do they do?These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleAfter legally-binding trade between a buyer and a seller, the role of the clearing house is to centralize and standardize all of the steps leading up to the settlement of the transaction. The purpose is to reduce the cost, settlement risk and operational risk of clearing and settling multiple transactions among multiple parties. In addition to the above services, central counterparty clearing (CCP) takes on counterparty risk by stepping in between the original buyer and seller of a financial contract, such as a derivative. The role of the CCP is to perform the obligations under the contract agreed between the two counterparties, thereby removing the counterparty risk the parties of the contract had to each other and replacing it with counterparty risk to a highly regulated central counterparty that specializes in managing and mitigating counterparty risk. Learn more about your ad choices. Visit megaphone.fm/adchoices What is a Derivatives Clearing House? What do they do?

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

After legally-binding trade between a buyer and a seller, the role of the clearing house is to centralize and standardize all of the steps leading up to the settlement of the transaction. The purpose is to reduce the cost, settlement risk and operational risk of clearing and settling multiple transactions among multiple parties.

In addition to the above services, central counterparty clearing (CCP) takes on counterparty risk by stepping in between the original buyer and seller of a financial contract, such as a derivative. The role of the CCP is to perform the obligations under the contract agreed between the two counterparties, thereby removing the counterparty risk the parties of the contract had to each other and replacing it with counterparty risk to a highly regulated central counterparty that specializes in managing and mitigating counterparty risk.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 475 no Germany's Historic Debt Deal! Go to https://surfshark.com/boyle for 4 extra months of SurfsharkEuropean markets rallied sharply this week as German borrowing costs soared after the country’s new leaders announced a historic deal to loosen its “debt brake” rule to boost spending on defense.The interest rate on German government bonds saw their biggest daily increase since October 1998.The Dax 30 index, which tracks the largest German companies, rose by 3.5% as stock prices also leapt in other European markets amid hopes that a massive boost in European spending on defense and infrastructure would kickstart the region’s lagging economy.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 03:38:45 -0000 full Patrick Boyle Go to https://surfshark.com/boyle for 4 extra months of SurfsharkEuropean markets rallied sharply this week as German borrowing costs soared after the country’s new leaders announced a historic deal to loosen its “debt brake” rule to boost spending on defense.The interest rate on German government bonds saw their biggest daily increase since October 1998.The Dax 30 index, which tracks the largest German companies, rose by 3.5% as stock prices also leapt in other European markets amid hopes that a massive boost in European spending on defense and infrastructure would kickstart the region’s lagging economy.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Go to https://surfshark.com/boyle for 4 extra months of Surfshark

European markets rallied sharply this week as German borrowing costs soared after the country’s new leaders announced a historic deal to loosen its “debt brake” rule to boost spending on defense.

The interest rate on German government bonds saw their biggest daily increase since October 1998.

The Dax 30 index, which tracks the largest German companies, rose by 3.5% as stock prices also leapt in other European markets amid hopes that a massive boost in European spending on defense and infrastructure would kickstart the region’s lagging economy.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 1693 no What is an Options Contract in Finance? | What is a Call Option? | What is a Put Option? Derivatives What are Financial Options?Buy The Book Here: https://amzn.to/37HIdEBPatrick's Website: OnFinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleWhat are Financial Options?Options are a financial derivative sold by an option writer or seller to an option buyer. They are typically purchased through a broker. The contract gives the buyer the right, but not the obligation, to buy (call option) or sell (put option) the underlying asset at an agreed-upon price during a certain period of time or on a specific date. The agreed upon price is called the strike price. American options can be exercised any time before the expiration date of the option, while European options can only be exercised on the expiration date (also known as exercise date). Exercising an option means utilizing the right to buy or the sell the underlying security.What is a call option? Call options provide the option buyer with the right to buy an underlying security at the strike price. The buyer of a call option is bullish and wants the price of the stock to go up. Conversely, the option seller (or writer) has to sell the underlying security to the option buyer, at the strike price, in the event that the stock's market price is above the strike price at expiration.An option writer who sells a call option believes that the underlying stock's price will drop or stay the same relative to the option's strike price during the life of the option, as that is how they will reap maximum profit. The writer's maximum profit is the premium received when selling the option. Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 03:10:00 -0000 full Patrick Boyle What are Financial Options?Buy The Book Here: https://amzn.to/37HIdEBPatrick's Website: OnFinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleWhat are Financial Options?Options are a financial derivative sold by an option writer or seller to an option buyer. They are typically purchased through a broker. The contract gives the buyer the right, but not the obligation, to buy (call option) or sell (put option) the underlying asset at an agreed-upon price during a certain period of time or on a specific date. The agreed upon price is called the strike price. American options can be exercised any time before the expiration date of the option, while European options can only be exercised on the expiration date (also known as exercise date). Exercising an option means utilizing the right to buy or the sell the underlying security.What is a call option? Call options provide the option buyer with the right to buy an underlying security at the strike price. The buyer of a call option is bullish and wants the price of the stock to go up. Conversely, the option seller (or writer) has to sell the underlying security to the option buyer, at the strike price, in the event that the stock's market price is above the strike price at expiration.An option writer who sells a call option believes that the underlying stock's price will drop or stay the same relative to the option's strike price during the life of the option, as that is how they will reap maximum profit. The writer's maximum profit is the premium received when selling the option. Learn more about your ad choices. Visit megaphone.fm/adchoices What are Financial Options?
Buy The Book Here: https://amzn.to/37HIdEB
Patrick's Website: OnFinance.org


Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle


What are Financial Options?
Options are a financial derivative sold by an option writer or seller to an option buyer. They are typically purchased through a broker. The contract gives the buyer the right, but not the obligation, to buy (call option) or sell (put option) the underlying asset at an agreed-upon price during a certain period of time or on a specific date. The agreed upon price is called the strike price. American options can be exercised any time before the expiration date of the option, while European options can only be exercised on the expiration date (also known as exercise date). Exercising an option means utilizing the right to buy or the sell the underlying security.

What is a call option?
Call options provide the option buyer with the right to buy an underlying security at the strike price. The buyer of a call option is bullish and wants the price of the stock to go up. Conversely, the option seller (or writer) has to sell the underlying security to the option buyer, at the strike price, in the event that the stock's market price is above the strike price at expiration.

An option writer who sells a call option believes that the underlying stock's price will drop or stay the same relative to the option's strike price during the life of the option, as that is how they will reap maximum profit. The writer's maximum profit is the premium received when selling the option.

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]]> 891 no What are Swaps? Financial Derivatives Tutorial In todays video we learn about Swaps.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is a Swap?A swap is a financial derivative in which two counterparties exchange cash flows of one party's financial instrument for those of the other party's financial instrument. For example, in the case of a swap involving two bonds, the two parties would be exchanging the periodic interest (coupon) payments associated with the bonds. With a swap the two counterparties agree to exchange one stream of cash flows against another stream. These streams are called the legs of the swap. The swap agreement defines the dates when the cash flows are to be paid and the way they are accrued and calculated. Usually at the time when the contract is initiated, at least one of these series of cash flows is determined by an uncertain variable such as a floating interest rate, foreign exchange rate, equity price, or commodity price.The cash flows are calculated over a notional principal amount. Contrary to a future, a forward or an option, the notional amount is usually not exchanged between counterparties. Consequently, swaps can be in cash or collateral. Swaps can be used to hedge certain risks such as interest rate risk, or to speculate on changes in the expected direction of underlying prices. Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 02:49:05 -0000 full Patrick Boyle In todays video we learn about Swaps.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is a Swap?A swap is a financial derivative in which two counterparties exchange cash flows of one party's financial instrument for those of the other party's financial instrument. For example, in the case of a swap involving two bonds, the two parties would be exchanging the periodic interest (coupon) payments associated with the bonds. With a swap the two counterparties agree to exchange one stream of cash flows against another stream. These streams are called the legs of the swap. The swap agreement defines the dates when the cash flows are to be paid and the way they are accrued and calculated. Usually at the time when the contract is initiated, at least one of these series of cash flows is determined by an uncertain variable such as a floating interest rate, foreign exchange rate, equity price, or commodity price.The cash flows are calculated over a notional principal amount. Contrary to a future, a forward or an option, the notional amount is usually not exchanged between counterparties. Consequently, swaps can be in cash or collateral. Swaps can be used to hedge certain risks such as interest rate risk, or to speculate on changes in the expected direction of underlying prices. Learn more about your ad choices. Visit megaphone.fm/adchoices In todays video we learn about Swaps.

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

What is a Swap?

A swap is a financial derivative in which two counterparties exchange cash flows of one party's financial instrument for those of the other party's financial instrument. For example, in the case of a swap involving two bonds, the two parties would be exchanging the periodic interest (coupon) payments associated with the bonds. With a swap the two counterparties agree to exchange one stream of cash flows against another stream. These streams are called the legs of the swap. The swap agreement defines the dates when the cash flows are to be paid and the way they are accrued and calculated. Usually at the time when the contract is initiated, at least one of these series of cash flows is determined by an uncertain variable such as a floating interest rate, foreign exchange rate, equity price, or commodity price.

The cash flows are calculated over a notional principal amount. Contrary to a future, a forward or an option, the notional amount is usually not exchanged between counterparties. Consequently, swaps can be in cash or collateral.

Swaps can be used to hedge certain risks such as interest rate risk, or to speculate on changes in the expected direction of underlying prices.

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]]> 1430 no America's Shopping Addiction! Ad: 🔒Remove your personal information from the web at https://joindeleteme.com/BOYLE and use code BOYLE for 20% off 🙌 DeleteMe international Plans: https://international.joindeleteme.comFor decades, the American consumer has powered not just the world's biggest economy but the entire global economy. According to the World Bank – Americans make up around one third of global consumer spending but are only 4% of the global population. We should only be so surprised by this – Americans are amongst the most productive workers in the world and thus are amongst the best paid – the fact that they are both busy and highly paid makes them naturally big consumers.In today's video we look at how tariffs, the end of the de minimis exemption and lower consumer conference may affect the American consumer.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 02:41:15 -0000 full Patrick Boyle Ad: 🔒Remove your personal information from the web at https://joindeleteme.com/BOYLE and use code BOYLE for 20% off 🙌 DeleteMe international Plans: https://international.joindeleteme.comFor decades, the American consumer has powered not just the world's biggest economy but the entire global economy. According to the World Bank – Americans make up around one third of global consumer spending but are only 4% of the global population. We should only be so surprised by this – Americans are amongst the most productive workers in the world and thus are amongst the best paid – the fact that they are both busy and highly paid makes them naturally big consumers.In today's video we look at how tariffs, the end of the de minimis exemption and lower consumer conference may affect the American consumer.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Ad: 🔒Remove your personal information from the web at https://joindeleteme.com/BOYLE and use code BOYLE for 20% off 🙌 DeleteMe international Plans: https://international.joindeleteme.com

For decades, the American consumer has powered not just the world's biggest economy but the entire global economy. According to the World Bank – Americans make up around one third of global consumer spending but are only 4% of the global population. We should only be so surprised by this – Americans are amongst the most productive workers in the world and thus are amongst the best paid – the fact that they are both busy and highly paid makes them naturally big consumers.

In today's video we look at how tariffs, the end of the de minimis exemption and lower consumer conference may affect the American consumer.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 1487 no What is a Warrant in Finance? Financial Derivatives - Stock Warrants Today we learn about what a warrant is in finance and what a warrant is in debt.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoylePatreon Page: https://www.patreon.com/PatrickBoyleOnFinanceIn finance, a warrant is a security that gives the owner the right but not the obligation to buy the underlying stock of the issuing company at a fixed price called exercise price until the expiry date. Warrants and options are similar in that the two contractual financial instruments allow the holder special rights to buy securities. Both are discretionary and have expiration dates. The word warrant simply means to "endow with the right", which is only slightly different from the meaning of option. Warrants are sometimes attached to bonds or preferred stock as a sweetener, allowing the issuer to pay lower interest rates or dividends. They can be used to enhance the yield of the bond and make them more attractive to potential buyers. Warrants can also be used in private equity deals. Frequently, these warrants are detachable and can be sold independently of the bond or stock. In the case of warrants issued with preferred stocks, stockholders may need to detach and sell the warrant before they can receive dividend payments. Thus, it is sometimes beneficial to detach and sell a warrant as soon as possible so the investor can earn dividends. Warrants are actively traded in some financial markets such as German Stock Exchange (Deutsche Börse) and Hong Kong. Warrants are very similar to call options. For instance, many warrants confer the same rights as equity options and warrants often can be traded in secondary markets like options. However, there also are several key differences between warrants and equity options: Warrants are issued by private parties, typically the corporation on which a warrant is based, rather than a public options exchange.Warrants issued by the company itself are dilutive. When the warrant issued by the company is exercised, the company issues new shares of stock, so the number of outstanding shares increases. When a call option is exercised, the owner of the call option receives an existing share from an assigned call writer (except in the case of employee stock options, where new shares are created and issued by the company upon exercise). Unlike common stock shares outstanding, warrants do not have voting rights.Warrants are considered over the counter instruments and thus are usually only traded by financial institutions with the capacity to settle and clear these types of transactions.A warrant's lifetime is measured in years (as long as 15 years), while options are typically measured in months. Even LEAPS (long-term equity anticipation securities), the longest stock options available, tend to expire in two or three years. Upon expiration, the warrants are worthless unless the price of the common stock is greater than the exercise price.Warrants are not standardized like exchange-listed options. While investors can write stock options on the ASX (or CBOE), they are not permitted to do so with ASX-listed warrants, since only companies can issue warrants and, while each option contract is over 1000 underlying ordinary shares (100 on CBOE), the number of warrants that must be exercised by the holder to buy the underlying asset depends on the conversion ratio set out in the offer documentation for the warrant issue. Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 02:12:30 -0000 full Patrick Boyle Today we learn about what a warrant is in finance and what a warrant is in debt.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoylePatreon Page: https://www.patreon.com/PatrickBoyleOnFinanceIn finance, a warrant is a security that gives the owner the right but not the obligation to buy the underlying stock of the issuing company at a fixed price called exercise price until the expiry date. Warrants and options are similar in that the two contractual financial instruments allow the holder special rights to buy securities. Both are discretionary and have expiration dates. The word warrant simply means to "endow with the right", which is only slightly different from the meaning of option. Warrants are sometimes attached to bonds or preferred stock as a sweetener, allowing the issuer to pay lower interest rates or dividends. They can be used to enhance the yield of the bond and make them more attractive to potential buyers. Warrants can also be used in private equity deals. Frequently, these warrants are detachable and can be sold independently of the bond or stock. In the case of warrants issued with preferred stocks, stockholders may need to detach and sell the warrant before they can receive dividend payments. Thus, it is sometimes beneficial to detach and sell a warrant as soon as possible so the investor can earn dividends. Warrants are actively traded in some financial markets such as German Stock Exchange (Deutsche Börse) and Hong Kong. Warrants are very similar to call options. For instance, many warrants confer the same rights as equity options and warrants often can be traded in secondary markets like options. However, there also are several key differences between warrants and equity options: Warrants are issued by private parties, typically the corporation on which a warrant is based, rather than a public options exchange.Warrants issued by the company itself are dilutive. When the warrant issued by the company is exercised, the company issues new shares of stock, so the number of outstanding shares increases. When a call option is exercised, the owner of the call option receives an existing share from an assigned call writer (except in the case of employee stock options, where new shares are created and issued by the company upon exercise). Unlike common stock shares outstanding, warrants do not have voting rights.Warrants are considered over the counter instruments and thus are usually only traded by financial institutions with the capacity to settle and clear these types of transactions.A warrant's lifetime is measured in years (as long as 15 years), while options are typically measured in months. Even LEAPS (long-term equity anticipation securities), the longest stock options available, tend to expire in two or three years. Upon expiration, the warrants are worthless unless the price of the common stock is greater than the exercise price.Warrants are not standardized like exchange-listed options. While investors can write stock options on the ASX (or CBOE), they are not permitted to do so with ASX-listed warrants, since only companies can issue warrants and, while each option contract is over 1000 underlying ordinary shares (100 on CBOE), the number of warrants that must be exercised by the holder to buy the underlying asset depends on the conversion ratio set out in the offer documentation for the warrant issue. Learn more about your ad choices. Visit megaphone.fm/adchoices Today we learn about what a warrant is in finance and what a warrant is in debt.

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance

In finance, a warrant is a security that gives the owner the right but not the obligation to buy the underlying stock of the issuing company at a fixed price called exercise price until the expiry date.

Warrants and options are similar in that the two contractual financial instruments allow the holder special rights to buy securities. Both are discretionary and have expiration dates. The word warrant simply means to "endow with the right", which is only slightly different from the meaning of option.

Warrants are sometimes attached to bonds or preferred stock as a sweetener, allowing the issuer to pay lower interest rates or dividends. They can be used to enhance the yield of the bond and make them more attractive to potential buyers. Warrants can also be used in private equity deals. Frequently, these warrants are detachable and can be sold independently of the bond or stock.
In the case of warrants issued with preferred stocks, stockholders may need to detach and sell the warrant before they can receive dividend payments. Thus, it is sometimes beneficial to detach and sell a warrant as soon as possible so the investor can earn dividends.

Warrants are actively traded in some financial markets such as German Stock Exchange (Deutsche Börse) and Hong Kong.

Warrants are very similar to call options. For instance, many warrants confer the same rights as equity options and warrants often can be traded in secondary markets like options. However, there also are several key differences between warrants and equity options:

Warrants are issued by private parties, typically the corporation on which a warrant is based, rather than a public options exchange.
Warrants issued by the company itself are dilutive. When the warrant issued by the company is exercised, the company issues new shares of stock, so the number of outstanding shares increases. When a call option is exercised, the owner of the call option receives an existing share from an assigned call writer (except in the case of employee stock options, where new shares are created and issued by the company upon exercise). Unlike common stock shares outstanding, warrants do not have voting rights.

Warrants are considered over the counter instruments and thus are usually only traded by financial institutions with the capacity to settle and clear these types of transactions.
A warrant's lifetime is measured in years (as long as 15 years), while options are typically measured in months. Even LEAPS (long-term equity anticipation securities), the longest stock options available, tend to expire in two or three years. Upon expiration, the warrants are worthless unless the price of the common stock is greater than the exercise price.
Warrants are not standardized like exchange-listed options. While investors can write stock options on the ASX (or CBOE), they are not permitted to do so with ASX-listed warrants, since only companies can issue warrants and, while each option contract is over 1000 underlying ordinary shares (100 on CBOE), the number of warrants that must be exercised by the holder to buy the underlying asset depends on the conversion ratio set out in the offer documentation for the warrant issue.

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]]> 412 no Why Wall Street is Ignoring Big Tech's Debt Start your own store with #printify: https://try.printify.com/72vgyfrvedkqThe first 100 people who use the code PATRICK will get 15% off their first order!Nikkei Asia recently reported that the five biggest US tech companies are carrying an estimated $1.65 trillion in "hidden," off-balance-sheet debt — and a lot of commentators have reached for the word "Enron" to describe the issue. In this video I look at whether that comparison holds up. It doesn't: unlike Enron, this debt isn't concealed through fraud — it's disclosed in the footnotes, it breaks no accounting rules, and much of what is going on is perfectly ordinary. But that raises a more interesting question than "will they get caught." If the aggressive stuff — the adjusted earnings, the leases, the stock-based compensation added back — is all sitting there in plain sight, does dressing up the numbers actually fool anyone? Drawing on the work of Aswath Damodaran, Richard Sloan, Robert Bloomfield and others, I dig into what the research says about whether markets reward clean accounting or aggressive accounting, why the debt isn't hidden so much as filed somewhere too tedious for most people to read — and why the real risk in the AI boom probably isn't the borrowing at all, but the enormous revenue it's all assuming will show up.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 01:46:21 -0000 full Patrick Boyle Start your own store with #printify: https://try.printify.com/72vgyfrvedkqThe first 100 people who use the code PATRICK will get 15% off their first order!Nikkei Asia recently reported that the five biggest US tech companies are carrying an estimated $1.65 trillion in "hidden," off-balance-sheet debt — and a lot of commentators have reached for the word "Enron" to describe the issue. In this video I look at whether that comparison holds up. It doesn't: unlike Enron, this debt isn't concealed through fraud — it's disclosed in the footnotes, it breaks no accounting rules, and much of what is going on is perfectly ordinary. But that raises a more interesting question than "will they get caught." If the aggressive stuff — the adjusted earnings, the leases, the stock-based compensation added back — is all sitting there in plain sight, does dressing up the numbers actually fool anyone? Drawing on the work of Aswath Damodaran, Richard Sloan, Robert Bloomfield and others, I dig into what the research says about whether markets reward clean accounting or aggressive accounting, why the debt isn't hidden so much as filed somewhere too tedious for most people to read — and why the real risk in the AI boom probably isn't the borrowing at all, but the enormous revenue it's all assuming will show up.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Start your own store with #printify: https://try.printify.com/72vgyfrvedkq
The first 100 people who use the code PATRICK will get 15% off their first order!

Nikkei Asia recently reported that the five biggest US tech companies are carrying an estimated $1.65 trillion in "hidden," off-balance-sheet debt — and a lot of commentators have reached for the word "Enron" to describe the issue. In this video I look at whether that comparison holds up. It doesn't: unlike Enron, this debt isn't concealed through fraud — it's disclosed in the footnotes, it breaks no accounting rules, and much of what is going on is perfectly ordinary. But that raises a more interesting question than "will they get caught." If the aggressive stuff — the adjusted earnings, the leases, the stock-based compensation added back — is all sitting there in plain sight, does dressing up the numbers actually fool anyone? Drawing on the work of Aswath Damodaran, Richard Sloan, Robert Bloomfield and others, I dig into what the research says about whether markets reward clean accounting or aggressive accounting, why the debt isn't hidden so much as filed somewhere too tedious for most people to read — and why the real risk in the AI boom probably isn't the borrowing at all, but the enormous revenue it's all assuming will show up.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2515 no Javier Milei One Year In! Enjoy up to 50% off Ekster's Christmas Sale! Go to https://partner.ekster.com/pboyle and use code BOYLE at checkout to unlock further savings!Javier Milei has been in office for one year having taken over an economy on the brink of collapse. Milei managed to cut the monthly inflation rate from 26 per cent before he took office to 2.7 per cent in October. The Argentine peso has strengthened significantly against the black-market dollar over the past six months and Argentina’s sovereign bond prices have roughly tripled.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveFurther Reading:FT - Has Javier Milei proved his critics wrong? https://www.ft.com/content/35b444a1-608c-48b5-a991-01f2ac3362beThe Economist - The making of an economic miracle? https://www.economist.com/the-world-ahead/2024/11/20/argentina-the-making-of-an-economic-miracleJavier Milei's Argentina in 6 Charts: https://news.gallup.com/poll/654089/javier-milei-argentina-charts.aspxJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 01:43:45 -0000 full Patrick Boyle Enjoy up to 50% off Ekster's Christmas Sale! Go to https://partner.ekster.com/pboyle and use code BOYLE at checkout to unlock further savings!Javier Milei has been in office for one year having taken over an economy on the brink of collapse. Milei managed to cut the monthly inflation rate from 26 per cent before he took office to 2.7 per cent in October. The Argentine peso has strengthened significantly against the black-market dollar over the past six months and Argentina’s sovereign bond prices have roughly tripled.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveFurther Reading:FT - Has Javier Milei proved his critics wrong? https://www.ft.com/content/35b444a1-608c-48b5-a991-01f2ac3362beThe Economist - The making of an economic miracle? https://www.economist.com/the-world-ahead/2024/11/20/argentina-the-making-of-an-economic-miracleJavier Milei's Argentina in 6 Charts: https://news.gallup.com/poll/654089/javier-milei-argentina-charts.aspxJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Enjoy up to 50% off Ekster's Christmas Sale! Go to https://partner.ekster.com/pboyle and use code BOYLE at checkout to unlock further savings!

Javier Milei has been in office for one year having taken over an economy on the brink of collapse. Milei managed to cut the monthly inflation rate from 26 per cent before he took office to 2.7 per cent in October. The Argentine peso has strengthened significantly against the black-market dollar over the past six months and Argentina’s sovereign bond prices have roughly tripled.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Further Reading:
FT - Has Javier Milei proved his critics wrong? https://www.ft.com/content/35b444a1-608c-48b5-a991-01f2ac3362be
The Economist - The making of an economic miracle? https://www.economist.com/the-world-ahead/2024/11/20/argentina-the-making-of-an-economic-miracle
Javier Milei's Argentina in 6 Charts: https://news.gallup.com/poll/654089/javier-milei-argentina-charts.aspx

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 1768 no Can The Price of USO go negative? | The US Oil ETF | Negative Oil Prices Buy The Book Here: https://amzn.to/2J2kF3AVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePatreon Page: https://www.patreon.com/PatrickBoyleOnFinanceCan The US Oil ETF Go Negative?As we discussed on Monday, this is not quite a story of “the price of oil is negative”; it is more a story of “the price of physically settled front-month West Texas Intermediate oil futures is negative.” As the May expiry rolled around, all the financial buyers wanted out, but none of the refiners wanted to take their positions and so the financial traders had to pay someone quite a bit of money to take the oil off their hands. Events in the real world caused this—but oddities of financial markets exacerbated it.It is not impossible, for the futures price to flip to negative. It is unprecedented, and it is strange. But dealing with a negative futures price is fairly straightforward and intuitive. Futures trade on an exchange, there is a clearinghouse, traders have to be creditworthy and post daily margin as the price moves. If the price goes down, money moves along well-understood channels if the price goes negative, those channels keep working. What is problematic, is that people have built retail financial products using oil futures, and those products assume that the lowest possible price for oil futures is zero.The problem is that oil futures prices can go negative, but ETF share prices can’t. If you buy an ETF on a stock exchange, and its value goes to zero, you can walk away; no one can ask you for more money. USO’s value hasn’t gone negative—it avoided Monday’s negative prices—but the structure has become a problematic.What does it mean that oil prices turned negative? https://youtu.be/dfqmjSOD7pQWhat is going on with USO - The US Oil ETF? https://youtu.be/BIqIjbHeV-g Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 01:15:00 -0000 full Patrick Boyle Buy The Book Here: https://amzn.to/2J2kF3AVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePatreon Page: https://www.patreon.com/PatrickBoyleOnFinanceCan The US Oil ETF Go Negative?As we discussed on Monday, this is not quite a story of “the price of oil is negative”; it is more a story of “the price of physically settled front-month West Texas Intermediate oil futures is negative.” As the May expiry rolled around, all the financial buyers wanted out, but none of the refiners wanted to take their positions and so the financial traders had to pay someone quite a bit of money to take the oil off their hands. Events in the real world caused this—but oddities of financial markets exacerbated it.It is not impossible, for the futures price to flip to negative. It is unprecedented, and it is strange. But dealing with a negative futures price is fairly straightforward and intuitive. Futures trade on an exchange, there is a clearinghouse, traders have to be creditworthy and post daily margin as the price moves. If the price goes down, money moves along well-understood channels if the price goes negative, those channels keep working. What is problematic, is that people have built retail financial products using oil futures, and those products assume that the lowest possible price for oil futures is zero.The problem is that oil futures prices can go negative, but ETF share prices can’t. If you buy an ETF on a stock exchange, and its value goes to zero, you can walk away; no one can ask you for more money. USO’s value hasn’t gone negative—it avoided Monday’s negative prices—but the structure has become a problematic.What does it mean that oil prices turned negative? https://youtu.be/dfqmjSOD7pQWhat is going on with USO - The US Oil ETF? https://youtu.be/BIqIjbHeV-g Learn more about your ad choices. Visit megaphone.fm/adchoices Buy The Book Here: https://amzn.to/2J2kF3A
Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance

Can The US Oil ETF Go Negative?

As we discussed on Monday, this is not quite a story of “the price of oil is negative”; it is more a story of “the price of physically settled front-month West Texas Intermediate oil futures is negative.”

As the May expiry rolled around, all the financial buyers wanted out, but none of the refiners wanted to take their positions and so the financial traders had to pay someone quite a bit of money to take the oil off their hands. Events in the real world caused this—but oddities of financial markets exacerbated it.

It is not impossible, for the futures price to flip to negative. It is unprecedented, and it is strange. But dealing with a negative futures price is fairly straightforward and intuitive. Futures trade on an exchange, there is a clearinghouse, traders have to be creditworthy and post daily margin as the price moves. If the price goes down, money moves along well-understood channels if the price goes negative, those channels keep working.

What is problematic, is that people have built retail financial products using oil futures, and those products assume that the lowest possible price for oil futures is zero.

The problem is that oil futures prices can go negative, but ETF share prices can’t. If you buy an ETF on a stock exchange, and its value goes to zero, you can walk away; no one can ask you for more money. USO’s value hasn’t gone negative—it avoided Monday’s negative prices—but the structure has become a problematic.


What does it mean that oil prices turned negative? https://youtu.be/dfqmjSOD7pQ

What is going on with USO - The US Oil ETF? https://youtu.be/BIqIjbHeV-g

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 784 no Can The Price of USO go negative? | The US Oil ETF | Negative Oil Prices Buy The Book Here: https://amzn.to/2J2kF3AVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePatreon Page: https://www.patreon.com/PatrickBoyleOnFinanceCan The US Oil ETF Go Negative?As we discussed on Monday, this is not quite a story of “the price of oil is negative”; it is more a story of “the price of physically settled front-month West Texas Intermediate oil futures is negative.” As the May expiry rolled around, all the financial buyers wanted out, but none of the refiners wanted to take their positions and so the financial traders had to pay someone quite a bit of money to take the oil off their hands. Events in the real world caused this—but oddities of financial markets exacerbated it.It is not impossible, for the futures price to flip to negative. It is unprecedented, and it is strange. But dealing with a negative futures price is fairly straightforward and intuitive. Futures trade on an exchange, there is a clearinghouse, traders have to be creditworthy and post daily margin as the price moves. If the price goes down, money moves along well-understood channels if the price goes negative, those channels keep working. What is problematic, is that people have built retail financial products using oil futures, and those products assume that the lowest possible price for oil futures is zero.The problem is that oil futures prices can go negative, but ETF share prices can’t. If you buy an ETF on a stock exchange, and its value goes to zero, you can walk away; no one can ask you for more money. USO’s value hasn’t gone negative—it avoided Monday’s negative prices—but the structure has become a problematic.What does it mean that oil prices turned negative? https://youtu.be/dfqmjSOD7pQWhat is going on with USO - The US Oil ETF? https://youtu.be/BIqIjbHeV-g Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 00:46:15 -0000 full Patrick Boyle Buy The Book Here: https://amzn.to/2J2kF3AVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePatreon Page: https://www.patreon.com/PatrickBoyleOnFinanceCan The US Oil ETF Go Negative?As we discussed on Monday, this is not quite a story of “the price of oil is negative”; it is more a story of “the price of physically settled front-month West Texas Intermediate oil futures is negative.” As the May expiry rolled around, all the financial buyers wanted out, but none of the refiners wanted to take their positions and so the financial traders had to pay someone quite a bit of money to take the oil off their hands. Events in the real world caused this—but oddities of financial markets exacerbated it.It is not impossible, for the futures price to flip to negative. It is unprecedented, and it is strange. But dealing with a negative futures price is fairly straightforward and intuitive. Futures trade on an exchange, there is a clearinghouse, traders have to be creditworthy and post daily margin as the price moves. If the price goes down, money moves along well-understood channels if the price goes negative, those channels keep working. What is problematic, is that people have built retail financial products using oil futures, and those products assume that the lowest possible price for oil futures is zero.The problem is that oil futures prices can go negative, but ETF share prices can’t. If you buy an ETF on a stock exchange, and its value goes to zero, you can walk away; no one can ask you for more money. USO’s value hasn’t gone negative—it avoided Monday’s negative prices—but the structure has become a problematic.What does it mean that oil prices turned negative? https://youtu.be/dfqmjSOD7pQWhat is going on with USO - The US Oil ETF? https://youtu.be/BIqIjbHeV-g Learn more about your ad choices. Visit megaphone.fm/adchoices Buy The Book Here: https://amzn.to/2J2kF3A
Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance

Can The US Oil ETF Go Negative?

As we discussed on Monday, this is not quite a story of “the price of oil is negative”; it is more a story of “the price of physically settled front-month West Texas Intermediate oil futures is negative.”

As the May expiry rolled around, all the financial buyers wanted out, but none of the refiners wanted to take their positions and so the financial traders had to pay someone quite a bit of money to take the oil off their hands. Events in the real world caused this—but oddities of financial markets exacerbated it.

It is not impossible, for the futures price to flip to negative. It is unprecedented, and it is strange. But dealing with a negative futures price is fairly straightforward and intuitive. Futures trade on an exchange, there is a clearinghouse, traders have to be creditworthy and post daily margin as the price moves. If the price goes down, money moves along well-understood channels if the price goes negative, those channels keep working.

What is problematic, is that people have built retail financial products using oil futures, and those products assume that the lowest possible price for oil futures is zero.

The problem is that oil futures prices can go negative, but ETF share prices can’t. If you buy an ETF on a stock exchange, and its value goes to zero, you can walk away; no one can ask you for more money. USO’s value hasn’t gone negative—it avoided Monday’s negative prices—but the structure has become a problematic.


What does it mean that oil prices turned negative? https://youtu.be/dfqmjSOD7pQ

What is going on with USO - The US Oil ETF? https://youtu.be/BIqIjbHeV-g

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 784 no The Real Reason European Cars Can't Compete Taking care of your health just got easier, thanks to my sponsor Zocdoc! Start here at: https://zocdoc.com/partickboyleEurope's automotive industry is facing a historic crisis as Volkswagen weighs unprecedented factory closures and massive job cuts. However, the root of the problem isn't just high energy costs or European bureaucracy—it's China Shock 2.0. With Chinese electric vehicle (EV) manufacturers building cars significantly faster and for thousands of euros less, traditional German automakers are rapidly losing market share both at home and abroad. This video analyzes the structural trade imbalances flooding the market with subsidized EVs, explains why laying off workers won't solve Volkswagen's €6,000 per-car cost gap, and examines whether new European Union tariffs will protect domestic manufacturing or simply trigger a costly global trade war.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 00:43:38 -0000 full Patrick Boyle Taking care of your health just got easier, thanks to my sponsor Zocdoc! Start here at: https://zocdoc.com/partickboyleEurope's automotive industry is facing a historic crisis as Volkswagen weighs unprecedented factory closures and massive job cuts. However, the root of the problem isn't just high energy costs or European bureaucracy—it's China Shock 2.0. With Chinese electric vehicle (EV) manufacturers building cars significantly faster and for thousands of euros less, traditional German automakers are rapidly losing market share both at home and abroad. This video analyzes the structural trade imbalances flooding the market with subsidized EVs, explains why laying off workers won't solve Volkswagen's €6,000 per-car cost gap, and examines whether new European Union tariffs will protect domestic manufacturing or simply trigger a costly global trade war.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Taking care of your health just got easier, thanks to my sponsor Zocdoc! Start here at: https://zocdoc.com/partickboyle

Europe's automotive industry is facing a historic crisis as Volkswagen weighs unprecedented factory closures and massive job cuts. However, the root of the problem isn't just high energy costs or European bureaucracy—it's China Shock 2.0. With Chinese electric vehicle (EV) manufacturers building cars significantly faster and for thousands of euros less, traditional German automakers are rapidly losing market share both at home and abroad. This video analyzes the structural trade imbalances flooding the market with subsidized EVs, explains why laying off workers won't solve Volkswagen's €6,000 per-car cost gap, and examines whether new European Union tariffs will protect domestic manufacturing or simply trigger a costly global trade war.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2145 no What is a Credit Default Swap? | CDS | Credit Derivatives In todays video we learn about Credit Default Swaps - Credit Derivatives.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is a Credit Default Swap?a financial contract whereby a buyer of corporate or sovereign debt in the form of bonds attempts to eliminate possible loss arising from default by the issuer of the bonds. This is achieved by the issuer of the bonds insuring the buyer’s potential losses as part of the agreement.A credit default swap (CDS) is a financial swap agreement that the seller of the CDS will compensate the buyer in the event of a debt default (by the debtor) or other credit event. That is, the seller of the CDS insures the buyer against some reference asset defaulting. The buyer of the CDS makes a series of payments (the CDS "fee" or "spread") to the seller and, in exchange, may expect to receive a payoff if the asset defaults.In the event of default, the buyer of the CDS receives compensation (usually the face value of the loan), and the seller of the CDS takes possession of the defaulted loan or its market value in cash. However, anyone can purchase a CDS, even buyers who do not hold the loan instrument and who have no direct insurable interest in the loan (these are called "naked" CDSs). If there are more CDS contracts outstanding than bonds in existence, a protocol exists to hold a credit event auction. The payment received is often substantially less than the face value of the loan.Credit default swaps in their current form have existed since the early 1990s, and increased in use in the early 2000s. By the end of 2007, the outstanding CDS amount was $62.2 trillion, falling to $26.3 trillion by mid-year 2010 and reportedly $25.5 trillion in early 2012. CDSs are not traded on an exchange and there is no required reporting of transactions to a government agency. During the 2007–2010 financial crisis the lack of transparency in this large market became a concern to regulators as it could pose a systemic risk. In March 2010, the Depository Trust & Clearing Corporation (see Sources of Market Data) announced it would give regulators greater access to its credit default swaps database.CDS data can be used by financial professionals, regulators, and the media to monitor how the market views credit risk of any entity on which a CDS is available, which can be compared to that provided by the Credit Rating Agencies. U.S. Courts may soon be following suit.Most CDSs are documented using standard forms drafted by the International Swaps and Derivatives Association (ISDA), although there are many variants. In addition to the basic, single-name swaps, there are basket default swaps (BDSs), index CDSs, funded CDSs (also called credit-linked notes), as well as loan-only credit default swaps (LCDS). In addition to corporations and governments, the reference entity can include a special purpose vehicle issuing asset-backed securities. Learn more about your ad choices. Visit megaphone.fm/adchoices Fri, 30 Oct 2026 00:17:30 -0000 full Patrick Boyle In todays video we learn about Credit Default Swaps - Credit Derivatives.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is a Credit Default Swap?a financial contract whereby a buyer of corporate or sovereign debt in the form of bonds attempts to eliminate possible loss arising from default by the issuer of the bonds. This is achieved by the issuer of the bonds insuring the buyer’s potential losses as part of the agreement.A credit default swap (CDS) is a financial swap agreement that the seller of the CDS will compensate the buyer in the event of a debt default (by the debtor) or other credit event. That is, the seller of the CDS insures the buyer against some reference asset defaulting. The buyer of the CDS makes a series of payments (the CDS "fee" or "spread") to the seller and, in exchange, may expect to receive a payoff if the asset defaults.In the event of default, the buyer of the CDS receives compensation (usually the face value of the loan), and the seller of the CDS takes possession of the defaulted loan or its market value in cash. However, anyone can purchase a CDS, even buyers who do not hold the loan instrument and who have no direct insurable interest in the loan (these are called "naked" CDSs). If there are more CDS contracts outstanding than bonds in existence, a protocol exists to hold a credit event auction. The payment received is often substantially less than the face value of the loan.Credit default swaps in their current form have existed since the early 1990s, and increased in use in the early 2000s. By the end of 2007, the outstanding CDS amount was $62.2 trillion, falling to $26.3 trillion by mid-year 2010 and reportedly $25.5 trillion in early 2012. CDSs are not traded on an exchange and there is no required reporting of transactions to a government agency. During the 2007–2010 financial crisis the lack of transparency in this large market became a concern to regulators as it could pose a systemic risk. In March 2010, the Depository Trust & Clearing Corporation (see Sources of Market Data) announced it would give regulators greater access to its credit default swaps database.CDS data can be used by financial professionals, regulators, and the media to monitor how the market views credit risk of any entity on which a CDS is available, which can be compared to that provided by the Credit Rating Agencies. U.S. Courts may soon be following suit.Most CDSs are documented using standard forms drafted by the International Swaps and Derivatives Association (ISDA), although there are many variants. In addition to the basic, single-name swaps, there are basket default swaps (BDSs), index CDSs, funded CDSs (also called credit-linked notes), as well as loan-only credit default swaps (LCDS). In addition to corporations and governments, the reference entity can include a special purpose vehicle issuing asset-backed securities. Learn more about your ad choices. Visit megaphone.fm/adchoices In todays video we learn about Credit Default Swaps - Credit Derivatives.

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

What is a Credit Default Swap?
a financial contract whereby a buyer of corporate or sovereign debt in the form of bonds attempts to eliminate possible loss arising from default by the issuer of the bonds. This is achieved by the issuer of the bonds insuring the buyer’s potential losses as part of the agreement.

A credit default swap (CDS) is a financial swap agreement that the seller of the CDS will compensate the buyer in the event of a debt default (by the debtor) or other credit event. That is, the seller of the CDS insures the buyer against some reference asset defaulting. The buyer of the CDS makes a series of payments (the CDS "fee" or "spread") to the seller and, in exchange, may expect to receive a payoff if the asset defaults.

In the event of default, the buyer of the CDS receives compensation (usually the face value of the loan), and the seller of the CDS takes possession of the defaulted loan or its market value in cash. However, anyone can purchase a CDS, even buyers who do not hold the loan instrument and who have no direct insurable interest in the loan (these are called "naked" CDSs). If there are more CDS contracts outstanding than bonds in existence, a protocol exists to hold a credit event auction. The payment received is often substantially less than the face value of the loan.

Credit default swaps in their current form have existed since the early 1990s, and increased in use in the early 2000s. By the end of 2007, the outstanding CDS amount was $62.2 trillion, falling to $26.3 trillion by mid-year 2010 and reportedly $25.5 trillion in early 2012. CDSs are not traded on an exchange and there is no required reporting of transactions to a government agency. During the 2007–2010 financial crisis the lack of transparency in this large market became a concern to regulators as it could pose a systemic risk. In March 2010, the Depository Trust & Clearing Corporation (see Sources of Market Data) announced it would give regulators greater access to its credit default swaps database.

CDS data can be used by financial professionals, regulators, and the media to monitor how the market views credit risk of any entity on which a CDS is available, which can be compared to that provided by the Credit Rating Agencies. U.S. Courts may soon be following suit.

Most CDSs are documented using standard forms drafted by the International Swaps and Derivatives Association (ISDA), although there are many variants. In addition to the basic, single-name swaps, there are basket default swaps (BDSs), index CDSs, funded CDSs (also called credit-linked notes), as well as loan-only credit default swaps (LCDS). In addition to corporations and governments, the reference entity can include a special purpose vehicle issuing asset-backed securities.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 1335 no China’s Rare Earth Chokehold! 👉🏻 To try everything Brilliant has to offer for free for a full 30 days, visit https://brilliant.org/patrick/. You’ll also get 20% off an annual premium subscription.In this video, we explore how China’s dominance in rare earth elements has become a powerful geopolitical tool—and why the United States is struggling to catch up. From the Mountain Pass mine in California to Apple’s $500 million recycling push, we unpack the strategic importance of rare earths in everything from electric vehicles and smartphones to fiber optics and missile systems.We also look at the recent Trump–Xi summit, the temporary truce on export controls, and the deeper tensions that remain unresolved. Why are rare earths so hard to substitute? How does China’s export licensing regime work? And what happens if the U.S. gets cut off?🔍 Topics covered:Rare earths in global supply chainsChina’s export controls and licensing strategyU.S. efforts to rebuild domestic productionMilitary vs civilian demand for rare earthsRecycling, substitution, and strategic stockpilingPatrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Thu, 29 Oct 2026 23:48:45 -0000 full Patrick Boyle 👉🏻 To try everything Brilliant has to offer for free for a full 30 days, visit https://brilliant.org/patrick/. You’ll also get 20% off an annual premium subscription.In this video, we explore how China’s dominance in rare earth elements has become a powerful geopolitical tool—and why the United States is struggling to catch up. From the Mountain Pass mine in California to Apple’s $500 million recycling push, we unpack the strategic importance of rare earths in everything from electric vehicles and smartphones to fiber optics and missile systems.We also look at the recent Trump–Xi summit, the temporary truce on export controls, and the deeper tensions that remain unresolved. Why are rare earths so hard to substitute? How does China’s export licensing regime work? And what happens if the U.S. gets cut off?🔍 Topics covered:Rare earths in global supply chainsChina’s export controls and licensing strategyU.S. efforts to rebuild domestic productionMilitary vs civilian demand for rare earthsRecycling, substitution, and strategic stockpilingPatrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices 👉🏻 To try everything Brilliant has to offer for free for a full 30 days, visit https://brilliant.org/patrick/. You’ll also get 20% off an annual premium subscription.

In this video, we explore how China’s dominance in rare earth elements has become a powerful geopolitical tool—and why the United States is struggling to catch up. From the Mountain Pass mine in California to Apple’s $500 million recycling push, we unpack the strategic importance of rare earths in everything from electric vehicles and smartphones to fiber optics and missile systems.
We also look at the recent Trump–Xi summit, the temporary truce on export controls, and the deeper tensions that remain unresolved. Why are rare earths so hard to substitute? How does China’s export licensing regime work? And what happens if the U.S. gets cut off?

🔍 Topics covered:

Rare earths in global supply chains
China’s export controls and licensing strategy
U.S. efforts to rebuild domestic production
Military vs civilian demand for rare earths
Recycling, substitution, and strategic stockpiling

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

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]]> 2241 no Energy Markets are on the Verge of a Disaster! They can't harm you, if they can't find you! Use code BOYLE at the link below and get 60% off an annual plan: https://incogni.com/boyleThe stock market just hit a record high. Meanwhile, captains in the Persian Gulf are turning off their transponders and sneaking through the Strait of Hormuz in the dead of night. Only five ships made it through yesterday. The seaborne oil buffer that insulated the global economy in the early weeks of the conflict is now completely exhausted, and the knock-on effects - from jet fuel shortages in Europe to a fertilizer crisis threatening this year's harvest - are only just beginning to show up in the data. In this video, we look at why the physical commodity markets are telling a very different story to the stock market, and what happens when the world's most critical trade route is caught between two competing blockades.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Thu, 29 Oct 2026 23:40:54 -0000 full Patrick Boyle They can't harm you, if they can't find you! Use code BOYLE at the link below and get 60% off an annual plan: https://incogni.com/boyleThe stock market just hit a record high. Meanwhile, captains in the Persian Gulf are turning off their transponders and sneaking through the Strait of Hormuz in the dead of night. Only five ships made it through yesterday. The seaborne oil buffer that insulated the global economy in the early weeks of the conflict is now completely exhausted, and the knock-on effects - from jet fuel shortages in Europe to a fertilizer crisis threatening this year's harvest - are only just beginning to show up in the data. In this video, we look at why the physical commodity markets are telling a very different story to the stock market, and what happens when the world's most critical trade route is caught between two competing blockades.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices They can't harm you, if they can't find you! Use code BOYLE at the link below and get 60% off an annual plan: https://incogni.com/boyle

The stock market just hit a record high. Meanwhile, captains in the Persian Gulf are turning off their transponders and sneaking through the Strait of Hormuz in the dead of night. Only five ships made it through yesterday. The seaborne oil buffer that insulated the global economy in the early weeks of the conflict is now completely exhausted, and the knock-on effects - from jet fuel shortages in Europe to a fertilizer crisis threatening this year's harvest - are only just beginning to show up in the data. In this video, we look at why the physical commodity markets are telling a very different story to the stock market, and what happens when the world's most critical trade route is caught between two competing blockades.

Patrick's Books:
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]]> 2267 no What is a Strangle? | Options Trading Strategies | Combining Options What is a Strangle? Options Trading Strategy - Options CombinationsThese classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is a Strangle?A strangle is an options strategy where the investor holds a position in both a call and put with different strike prices, but with the same expiration date and underlying asset. This option strategy is profitable only if the underlying asset has a large price move. This is a good strategy if you think there will be a large price movement in the near future but are unsure of which way that price movement will be.What is Long Strangle?A long strangle is simultaneously buying an out of the money call and an out-of-the-money put option. This strategy has a large profit potential, since the call option has theoretically unlimited profit if the underlying asset rises in price, and the put option can profit if the underlying asset falls. The risk on the trade is limited to the premium paid for the two options.What is a Short Strangle?A short strangle is a neutral strategy and has limited profit potential. The maximum profit is equivalent to the net premium received for writing the two options, less any trading costs. A short strangle is selling an out of the money call and an out of the money put option.What is the Difference Between Strangle and Straddle? Long strangles and long straddles are similar options strategies that allow investors to gain from large potential moves to the upside or downside. However, a long straddle involves simultaneously purchasing at the money call and put options.A short straddle is similar to a short strangle and has a limited maximum profit potential that is equivalent to the premium collected from writing the at the money call and put options.Buying a strangle is generally less expensive than a straddle as the contracts are purchased out of the money. The counter-argument to this is that since the options are out of the money, the underlying will need to make a larger price move in order for the strategy to create a profit. Learn more about your ad choices. Visit megaphone.fm/adchoices Thu, 29 Oct 2026 23:20:00 -0000 full Patrick Boyle What is a Strangle? Options Trading Strategy - Options CombinationsThese classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is a Strangle?A strangle is an options strategy where the investor holds a position in both a call and put with different strike prices, but with the same expiration date and underlying asset. This option strategy is profitable only if the underlying asset has a large price move. This is a good strategy if you think there will be a large price movement in the near future but are unsure of which way that price movement will be.What is Long Strangle?A long strangle is simultaneously buying an out of the money call and an out-of-the-money put option. This strategy has a large profit potential, since the call option has theoretically unlimited profit if the underlying asset rises in price, and the put option can profit if the underlying asset falls. The risk on the trade is limited to the premium paid for the two options.What is a Short Strangle?A short strangle is a neutral strategy and has limited profit potential. The maximum profit is equivalent to the net premium received for writing the two options, less any trading costs. A short strangle is selling an out of the money call and an out of the money put option.What is the Difference Between Strangle and Straddle? Long strangles and long straddles are similar options strategies that allow investors to gain from large potential moves to the upside or downside. However, a long straddle involves simultaneously purchasing at the money call and put options.A short straddle is similar to a short strangle and has a limited maximum profit potential that is equivalent to the premium collected from writing the at the money call and put options.Buying a strangle is generally less expensive than a straddle as the contracts are purchased out of the money. The counter-argument to this is that since the options are out of the money, the underlying will need to make a larger price move in order for the strategy to create a profit. Learn more about your ad choices. Visit megaphone.fm/adchoices What is a Strangle? Options Trading Strategy - Options Combinations

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

What is a Strangle?
A strangle is an options strategy where the investor holds a position in both a call and put with different strike prices, but with the same expiration date and underlying asset. This option strategy is profitable only if the underlying asset has a large price move. This is a good strategy if you think there will be a large price movement in the near future but are unsure of which way that price movement will be.

What is Long Strangle?
A long strangle is simultaneously buying an out of the money call and an out-of-the-money put option. This strategy has a large profit potential, since the call option has theoretically unlimited profit if the underlying asset rises in price, and the put option can profit if the underlying asset falls. The risk on the trade is limited to the premium paid for the two options.

What is a Short Strangle?
A short strangle is a neutral strategy and has limited profit potential. The maximum profit is equivalent to the net premium received for writing the two options, less any trading costs. A short strangle is selling an out of the money call and an out of the money put option.

What is the Difference Between Strangle and Straddle?
Long strangles and long straddles are similar options strategies that allow investors to gain from large potential moves to the upside or downside. However, a long straddle involves simultaneously purchasing at the money call and put options.

A short straddle is similar to a short strangle and has a limited maximum profit potential that is equivalent to the premium collected from writing the at the money call and put options.

Buying a strangle is generally less expensive than a straddle as the contracts are purchased out of the money. The counter-argument to this is that since the options are out of the money, the underlying will need to make a larger price move in order for the strategy to create a profit.

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]]> 402 no What are Volatility Swaps? Financial Derivatives - Trading Volatility In todays class we learn about what a volatility swap is.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is a Volatility Swap?A volatility swap is a forward contract with a payoff based on the realized volatility of the underlying asset. Volatility swaps settle in cash based on the difference between the realized volatility and the volatility strike. They are not swaps in the traditional sense, with an exchange of cash flows between counterparties.At settlement, the payoff is, Notional Amount X (Volatility – Volatility Strike)They are also similar to variance swaps, where the payoff is based on realized variance. Check out my video on variance swaps here. https://www.youtube.com/watch?v=XO1vKxx4z0M Learn more about your ad choices. Visit megaphone.fm/adchoices Thu, 29 Oct 2026 22:51:15 -0000 full Patrick Boyle In todays class we learn about what a volatility swap is.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is a Volatility Swap?A volatility swap is a forward contract with a payoff based on the realized volatility of the underlying asset. Volatility swaps settle in cash based on the difference between the realized volatility and the volatility strike. They are not swaps in the traditional sense, with an exchange of cash flows between counterparties.At settlement, the payoff is, Notional Amount X (Volatility – Volatility Strike)They are also similar to variance swaps, where the payoff is based on realized variance. Check out my video on variance swaps here. https://www.youtube.com/watch?v=XO1vKxx4z0M Learn more about your ad choices. Visit megaphone.fm/adchoices In todays class we learn about what a volatility swap is.

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

What is a Volatility Swap?
A volatility swap is a forward contract with a payoff based on the realized volatility of the underlying asset. Volatility swaps settle in cash based on the difference between the realized volatility and the volatility strike.

They are not swaps in the traditional sense, with an exchange of cash flows between counterparties.

At settlement, the payoff is, Notional Amount X (Volatility – Volatility Strike)

They are also similar to variance swaps, where the payoff is based on realized variance. Check out my video on variance swaps here. https://www.youtube.com/watch?v=XO1vKxx4z0M

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]]> 559 no Dynamic Hedging of Options - Option Trading Strategies These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is Dynamic Hedging?A hedging technique which seeks to limit an investment's exposure to delta and gamma by adjusting the hedge as the underlying security changes (hence, "dynamic"). The strategy is frequently used by financial professionals working with derivatives. Derivatives dealers often find that they hold large numbers of short options positions on an underlier which they want to offset by purchasing long options, but that they cannot find long options because these types of options are not as available. To reduce exposure the trader will create a delta hedge of a non-linear position, such as an exotic option, with a linear position, such as a spot trade.The deltas of the linear and non-linear positions offset. As the value of the underlying changes the trader will have to take out new linear positions to offset the changing non-linear delta.Watch this video to the end to win a free book Learn more about your ad choices. Visit megaphone.fm/adchoices Thu, 29 Oct 2026 22:38:10 -0000 full Patrick Boyle These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is Dynamic Hedging?A hedging technique which seeks to limit an investment's exposure to delta and gamma by adjusting the hedge as the underlying security changes (hence, "dynamic"). The strategy is frequently used by financial professionals working with derivatives. Derivatives dealers often find that they hold large numbers of short options positions on an underlier which they want to offset by purchasing long options, but that they cannot find long options because these types of options are not as available. To reduce exposure the trader will create a delta hedge of a non-linear position, such as an exotic option, with a linear position, such as a spot trade.The deltas of the linear and non-linear positions offset. As the value of the underlying changes the trader will have to take out new linear positions to offset the changing non-linear delta.Watch this video to the end to win a free book Learn more about your ad choices. Visit megaphone.fm/adchoices These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

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What is Dynamic Hedging?
A hedging technique which seeks to limit an investment's exposure to delta and gamma by adjusting the hedge as the underlying security changes (hence, "dynamic"). The strategy is frequently used by financial professionals working with derivatives. Derivatives dealers often find that they hold large numbers of short options positions on an underlier which they want to offset by purchasing long options, but that they cannot find long options because these types of options are not as available. To reduce exposure the trader will create a delta hedge of a non-linear position, such as an exotic option, with a linear position, such as a spot trade.
The deltas of the linear and non-linear positions offset. As the value of the underlying changes the trader will have to take out new linear positions to offset the changing non-linear delta.

Watch this video to the end to win a free book

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]]> 554 no What is Implied Volatility? Options Trading Tutorial. These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices Thu, 29 Oct 2026 22:22:30 -0000 full Patrick Boyle These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

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]]> 780 no What is an Options Straddle? | Options Combinations | Trading Strategies What is a Straddle? Options Trading Strategy - Options CombinationsThese classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleAn options straddle involves buying a call and put with same strike price and expiration date. If the stock price is close to the strike price at expiration of the options, the straddle leads to a loss. However, if there is a sufficiently large move in either direction, a significant profit will result. A straddle is appropriate when an investor is expecting a large move in a stock price but does not know in which direction the move will be.The purchase of the two options is known as a long straddle, while the sale of the two options is known as a short straddle. What is a Long Straddle?A long straddle involves "going long," in other words, purchasing both a call option and a put option on some underlying. The two options are bought at the same strike price and expire at the same time. The owner of a long straddle makes a profit if the underlying price moves a long way from the strike price, either above or below. Thus, an investor may take a long straddle position if they think the market is going to be highly volatile, but they do not know in which direction it is going to move. This position is a limited risk, meaning the most a purchaser may lose is the cost of both options. At the same time, there is unlimited profit potential. This is quite an expensive options position as the trader is paying two premiums, so quite a large move is required to be profitable.What is a short straddle?A short straddle is a non-directional options trading strategy that involves simultaneously selling a put and a call of the same underlying security, strike price and expiration date. The profit is limited to the premium received from the sale of put and call. The risk is virtually unlimited as large moves of the underlying security's price either up or down will cause losses proportional to the magnitude of the price move. A maximum profit upon expiration is achieved if the underlying security trades exactly at the strike price of the straddle. In that case both puts and calls comprising the straddle expire worthless allowing straddle owner to keep full credit received as their profit. This strategy is called "nondirectional" because the short straddle profits when the underlying security changes little in price before the expiration of the straddle. The short straddle can also be classified as a credit spread because the sale of the short straddle results in a credit of the premiums of the put and call. A risk for holder of a short straddle position is unlimited due to the sale of the call and the put options which expose the investor to unlimited losses (on the call) or losses limited to the strike price (on the put), whereas maximum profit is limited to the premium gained by the initial sale of the options.To learn more subscribe and watch Patrick's new videos which come out every day. Learn more about your ad choices. Visit megaphone.fm/adchoices Thu, 29 Oct 2026 21:53:45 -0000 full Patrick Boyle What is a Straddle? Options Trading Strategy - Options CombinationsThese classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleAn options straddle involves buying a call and put with same strike price and expiration date. If the stock price is close to the strike price at expiration of the options, the straddle leads to a loss. However, if there is a sufficiently large move in either direction, a significant profit will result. A straddle is appropriate when an investor is expecting a large move in a stock price but does not know in which direction the move will be.The purchase of the two options is known as a long straddle, while the sale of the two options is known as a short straddle. What is a Long Straddle?A long straddle involves "going long," in other words, purchasing both a call option and a put option on some underlying. The two options are bought at the same strike price and expire at the same time. The owner of a long straddle makes a profit if the underlying price moves a long way from the strike price, either above or below. Thus, an investor may take a long straddle position if they think the market is going to be highly volatile, but they do not know in which direction it is going to move. This position is a limited risk, meaning the most a purchaser may lose is the cost of both options. At the same time, there is unlimited profit potential. This is quite an expensive options position as the trader is paying two premiums, so quite a large move is required to be profitable.What is a short straddle?A short straddle is a non-directional options trading strategy that involves simultaneously selling a put and a call of the same underlying security, strike price and expiration date. The profit is limited to the premium received from the sale of put and call. The risk is virtually unlimited as large moves of the underlying security's price either up or down will cause losses proportional to the magnitude of the price move. A maximum profit upon expiration is achieved if the underlying security trades exactly at the strike price of the straddle. In that case both puts and calls comprising the straddle expire worthless allowing straddle owner to keep full credit received as their profit. This strategy is called "nondirectional" because the short straddle profits when the underlying security changes little in price before the expiration of the straddle. The short straddle can also be classified as a credit spread because the sale of the short straddle results in a credit of the premiums of the put and call. A risk for holder of a short straddle position is unlimited due to the sale of the call and the put options which expose the investor to unlimited losses (on the call) or losses limited to the strike price (on the put), whereas maximum profit is limited to the premium gained by the initial sale of the options.To learn more subscribe and watch Patrick's new videos which come out every day. Learn more about your ad choices. Visit megaphone.fm/adchoices What is a Straddle? Options Trading Strategy - Options Combinations

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

An options straddle involves buying a call and put with same strike price and expiration date. If the stock price is close to the strike price at expiration of the options, the straddle leads to a loss. However, if there is a sufficiently large move in either direction, a significant profit will result. A straddle is appropriate when an investor is expecting a large move in a stock price but does not know in which direction the move will be.

The purchase of the two options is known as a long straddle, while the sale of the two options is known as a short straddle.

What is a Long Straddle?
A long straddle involves "going long," in other words, purchasing both a call option and a put option on some underlying. The two options are bought at the same strike price and expire at the same time. The owner of a long straddle makes a profit if the underlying price moves a long way from the strike price, either above or below. Thus, an investor may take a long straddle position if they think the market is going to be highly volatile, but they do not know in which direction it is going to move. This position is a limited risk, meaning the most a purchaser may lose is the cost of both options. At the same time, there is unlimited profit potential. This is quite an expensive options position as the trader is paying two premiums, so quite a large move is required to be profitable.

What is a short straddle?
A short straddle is a non-directional options trading strategy that involves simultaneously selling a put and a call of the same underlying security, strike price and expiration date. The profit is limited to the premium received from the sale of put and call. The risk is virtually unlimited as large moves of the underlying security's price either up or down will cause losses proportional to the magnitude of the price move. A maximum profit upon expiration is achieved if the underlying security trades exactly at the strike price of the straddle. In that case both puts and calls comprising the straddle expire worthless allowing straddle owner to keep full credit received as their profit. This strategy is called "nondirectional" because the short straddle profits when the underlying security changes little in price before the expiration of the straddle. The short straddle can also be classified as a credit spread because the sale of the short straddle results in a credit of the premiums of the put and call.

A risk for holder of a short straddle position is unlimited due to the sale of the call and the put options which expose the investor to unlimited losses (on the call) or losses limited to the strike price (on the put), whereas maximum profit is limited to the premium gained by the initial sale of the options.


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]]> 362 no Simple Options Positions - Call Options - Put Options - Long and Short - Beginners Tutorial These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleThere is no free lunch with stocks and bonds. Options are no different. Options trading involves certain risks that the investor must be aware of before making a trade.Options are derivatives of financial securities – their value depends on the price of some other asset. That is essentially what the term, derivative, means. There are many different types of securities that fall under the label of derivative, including calls, puts, futures, forwards, swaps (of which there are many types), and credit derivatives which we will cover in a future video.Options represent the right (but not the obligation) to take some sort of action (buy or sell an underlying security) by a predetermined date (the expiration date). There are two types of options, calls and puts. And there are two sides to every option transaction -- the party buying the option, and the party selling (also called writing) the option. Each side comes with its own risk/reward profile and may be entered into for different strategic reasons. The buyer of the option is said to have a long position, while the seller of the option (the writer) is said to have a short position.Note that tradable options are contracts between two parties. The companies whose securities underlie the option contracts are themselves neither involved in the transactions nor the cash flows between the various parties in the market. In any option trade, the counterparty may be another investor, or perhaps a market maker (a type of middle man offering to both buy and sell a particular security in the hopes of making a profit on the differing bid/ask prices). All parties it should be noted do not directly face each other, instead they face the options clearinghouse, and I have a separate video on that topic.What's a call option?A call option, is the option to buy the underlying stock at a pre-agreed price (the strike price) by a pre-agreed date (the expiration date). The buyer of a call has the right to buy shares at the strike price until expiration. The seller of the call (also known as the call "writer") is the one with the corresponding obligation. If the call buyer decides to buy (known as exercising the option) the call writer is obliged to sell their shares to the call buyer at the strike price.If an investor bought a call option on Apple Computer stock with a strike price at $100 expiring in two months. That call buyer has the right to exercise that option, paying $100 per share, and receiving the shares. The writer of the call would have the obligation to deliver those shares and be happy receiving $100 for them. What's a put option?If a call is the right to buy, then perhaps unsurprisingly, a put is the option to sell the underlying stock at a predetermined strike price until a fixed expiry date. The put buyer has the right to sell shares at the strike price, and if he/she decides to sell, the put writer is obliged to buy at that price.Why use options?A call buyer seeks to make a profit when the price of the underlying shares rises. The call price will rise as the shares do. The call writer is making the opposite bet, hoping for the stock price to decline or, at the very least, rise less than the amount received for selling the call in the first place.The put buyer profits when the underlying stock price falls. A put increases in value as the underlying stock decreases in value. Conversely, put writers are hoping for the option to expire with the stock price above the strike price, or at least for the stock to decline an amount less than what they have been paid to sell the put.We'll note here that relatively few Learn more about your ad choices. Visit megaphone.fm/adchoices Thu, 29 Oct 2026 21:35:27 -0000 full Patrick Boyle These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleThere is no free lunch with stocks and bonds. Options are no different. Options trading involves certain risks that the investor must be aware of before making a trade.Options are derivatives of financial securities – their value depends on the price of some other asset. That is essentially what the term, derivative, means. There are many different types of securities that fall under the label of derivative, including calls, puts, futures, forwards, swaps (of which there are many types), and credit derivatives which we will cover in a future video.Options represent the right (but not the obligation) to take some sort of action (buy or sell an underlying security) by a predetermined date (the expiration date). There are two types of options, calls and puts. And there are two sides to every option transaction -- the party buying the option, and the party selling (also called writing) the option. Each side comes with its own risk/reward profile and may be entered into for different strategic reasons. The buyer of the option is said to have a long position, while the seller of the option (the writer) is said to have a short position.Note that tradable options are contracts between two parties. The companies whose securities underlie the option contracts are themselves neither involved in the transactions nor the cash flows between the various parties in the market. In any option trade, the counterparty may be another investor, or perhaps a market maker (a type of middle man offering to both buy and sell a particular security in the hopes of making a profit on the differing bid/ask prices). All parties it should be noted do not directly face each other, instead they face the options clearinghouse, and I have a separate video on that topic.What's a call option?A call option, is the option to buy the underlying stock at a pre-agreed price (the strike price) by a pre-agreed date (the expiration date). The buyer of a call has the right to buy shares at the strike price until expiration. The seller of the call (also known as the call "writer") is the one with the corresponding obligation. If the call buyer decides to buy (known as exercising the option) the call writer is obliged to sell their shares to the call buyer at the strike price.If an investor bought a call option on Apple Computer stock with a strike price at $100 expiring in two months. That call buyer has the right to exercise that option, paying $100 per share, and receiving the shares. The writer of the call would have the obligation to deliver those shares and be happy receiving $100 for them. What's a put option?If a call is the right to buy, then perhaps unsurprisingly, a put is the option to sell the underlying stock at a predetermined strike price until a fixed expiry date. The put buyer has the right to sell shares at the strike price, and if he/she decides to sell, the put writer is obliged to buy at that price.Why use options?A call buyer seeks to make a profit when the price of the underlying shares rises. The call price will rise as the shares do. The call writer is making the opposite bet, hoping for the stock price to decline or, at the very least, rise less than the amount received for selling the call in the first place.The put buyer profits when the underlying stock price falls. A put increases in value as the underlying stock decreases in value. Conversely, put writers are hoping for the option to expire with the stock price above the strike price, or at least for the stock to decline an amount less than what they have been paid to sell the put.We'll note here that relatively few Learn more about your ad choices. Visit megaphone.fm/adchoices These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

There is no free lunch with stocks and bonds. Options are no different. Options trading involves certain risks that the investor must be aware of before making a trade.

Options are derivatives of financial securities – their value depends on the price of some other asset. That is essentially what the term, derivative, means. There are many different types of securities that fall under the label of derivative, including calls, puts, futures, forwards, swaps (of which there are many types), and credit derivatives which we will cover in a future video.

Options represent the right (but not the obligation) to take some sort of action (buy or sell an underlying security) by a predetermined date (the expiration date).

There are two types of options, calls and puts. And there are two sides to every option transaction -- the party buying the option, and the party selling (also called writing) the option. Each side comes with its own risk/reward profile and may be entered into for different strategic reasons. The buyer of the option is said to have a long position, while the seller of the option (the writer) is said to have a short position.

Note that tradable options are contracts between two parties. The companies whose securities underlie the option contracts are themselves neither involved in the transactions nor the cash flows between the various parties in the market. In any option trade, the counterparty may be another investor, or perhaps a market maker (a type of middle man offering to both buy and sell a particular security in the hopes of making a profit on the differing bid/ask prices). All parties it should be noted do not directly face each other, instead they face the options clearinghouse, and I have a separate video on that topic.

What's a call option?
A call option, is the option to buy the underlying stock at a pre-agreed price (the strike price) by a pre-agreed date (the expiration date). The buyer of a call has the right to buy shares at the strike price until expiration. The seller of the call (also known as the call "writer") is the one with the corresponding obligation. If the call buyer decides to buy (known as exercising the option) the call writer is obliged to sell their shares to the call buyer at the strike price.

If an investor bought a call option on Apple Computer stock with a strike price at $100 expiring in two months. That call buyer has the right to exercise that option, paying $100 per share, and receiving the shares. The writer of the call would have the obligation to deliver those shares and be happy receiving $100 for them.

What's a put option?
If a call is the right to buy, then perhaps unsurprisingly, a put is the option to sell the underlying stock at a predetermined strike price until a fixed expiry date. The put buyer has the right to sell shares at the strike price, and if he/she decides to sell, the put writer is obliged to buy at that price.

Why use options?
A call buyer seeks to make a profit when the price of the underlying shares rises. The call price will rise as the shares do. The call writer is making the opposite bet, hoping for the stock price to decline or, at the very least, rise less than the amount received for selling the call in the first place.

The put buyer profits when the underlying stock price falls. A put increases in value as the underlying stock decreases in value. Conversely, put writers are hoping for the option to expire with the stock price above the strike price, or at least for the stock to decline an amount less than what they have been paid to sell the put.

We'll note here that relatively few

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]]> 501 no The Trump Musk Blowup! Head over to https://eightsleep.yt.link/1E2h8CM to get $350 off your very own Pod 5 Ultra. The best part is that you still get 30 days to try it at home and return it if you don’t like it - but I am confident you will keep it. Trust me, your body will thank you for this investment in better sleep. Shipping to many countries worldwide. See details at https://eightsleep.yt.link/1E2h8CMDonald Trump and Elon Musk have been locked in a public fight after Musk spent days bashing Trump's "big, beautiful bill" — a multi-trillion dollar budget key to unlocking the president's agenda currently being voted on in the Senate. In return, the president threatened to cut the federal government's contracts with Musk's companies, including SpaceX.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Thu, 29 Oct 2026 21:25:00 -0000 full Patrick Boyle Head over to https://eightsleep.yt.link/1E2h8CM to get $350 off your very own Pod 5 Ultra. The best part is that you still get 30 days to try it at home and return it if you don’t like it - but I am confident you will keep it. Trust me, your body will thank you for this investment in better sleep. Shipping to many countries worldwide. See details at https://eightsleep.yt.link/1E2h8CMDonald Trump and Elon Musk have been locked in a public fight after Musk spent days bashing Trump's "big, beautiful bill" — a multi-trillion dollar budget key to unlocking the president's agenda currently being voted on in the Senate. In return, the president threatened to cut the federal government's contracts with Musk's companies, including SpaceX.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Head over to https://eightsleep.yt.link/1E2h8CM to get $350 off your very own Pod 5 Ultra. The best part is that you still get 30 days to try it at home and return it if you don’t like it - but I am confident you will keep it. Trust me, your body will thank you for this investment in better sleep.

Shipping to many countries worldwide. See details at https://eightsleep.yt.link/1E2h8CM

Donald Trump and Elon Musk have been locked in a public fight after Musk spent days bashing Trump's "big, beautiful bill" — a multi-trillion dollar budget key to unlocking the president's agenda currently being voted on in the Senate. In return, the president threatened to cut the federal government's contracts with Musk's companies, including SpaceX.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 1692 no What is a Butterfly Spread? What is a Butterfly Spread? - Options Trading Strategies ExplainedThese classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is a Butterfly Spread? A butterfly spread is an option strategy that combines bull and bear spreads. Butterfly spreads use four option contracts with the same expiration but three different strike prices. The trader sells two option contracts at the middle strike price, buys one option contract at a lower strike price, and buys another option contract at a higher strike price. Puts or calls can be used for a butterfly spread. The strategy is used when the trader believes the price of the underlying asset will not deviate much from the current price. Butterfly spreads have limited risk, and the maximum loss is the net premium paid to take the position. Profit is also capped.Long Call Butterfly Spread The long butterfly call spread is created by buying one in-the-money call option with a low strike price, writing two at-the-money call options, and buying one out-of-the-money call option with a higher strike price. A net debit is created when entering the trade. Short Call Butterfly Spread The short butterfly spread is created by selling one in-the-money call option with a low strike price, buying two at-the-money call options, and selling an out-of-the-money call option at a higher strike price. A net credit is created when entering the position. This position profits if the price of the underlying moves toward the upper or lower strike price.Long Put Butterfly Spread The long put butterfly spread is created by buying one put with a lower strike price, selling two at-the-money puts, and buying a put with a higher strike price. A net debit is created when entering the position. Like the long call butterfly, this position has maximum profit when the underlying stays at the strike price of the middle options. Short Put Butterfly Spread The short put butterfly spread is created by writing one out-of-the-money put option with a low strike price, buying two at-the-money puts, and writing an in-the-money put option at a higher strike price. This strategy profits if the underlying moves toward the upper or lower strike prices.Iron Butterfly Spread The iron butterfly spread is created by buying an out-of-the-money put option with a lower strike price, writing an at-the-money put option with a middle strike price, writing an at-the-money call option with a middle strike price, and buying an out-of-the-money call option with a higher strike price. The result is a trade with a net credit that's best suited for lower volatility scenarios. The maximum profit occurs if the underlying stays at the middle strike price. Reverse Iron Butterfly Spread The reverse iron butterfly spread is created by writing an out-of-the-money put option at a lower strike price, buying an at-the-money put option at a middle strike price, buying an at-the-money call option at a middle strike price, and writing an out-of-the-money call option at a higher strike price. This creates a net debit trade that's best suited for high-volatility scenarios. Profit occurs when the price of the underlying moves toward the upper or lower strike prices.Commissions can add up when trading butterfly spreads because of the multiple options positions involved.Watch Patrick's other videos on Options. https://www.youtube.com/watch?v=qKMIFvgt8wI&list=PLHC72UlhAthA_t0MRcYRxYp2NZRIXSVWA Learn more about your ad choices. Visit megaphone.fm/adchoices Thu, 29 Oct 2026 20:56:15 -0000 full Patrick Boyle What is a Butterfly Spread? - Options Trading Strategies ExplainedThese classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat is a Butterfly Spread? A butterfly spread is an option strategy that combines bull and bear spreads. Butterfly spreads use four option contracts with the same expiration but three different strike prices. The trader sells two option contracts at the middle strike price, buys one option contract at a lower strike price, and buys another option contract at a higher strike price. Puts or calls can be used for a butterfly spread. The strategy is used when the trader believes the price of the underlying asset will not deviate much from the current price. Butterfly spreads have limited risk, and the maximum loss is the net premium paid to take the position. Profit is also capped.Long Call Butterfly Spread The long butterfly call spread is created by buying one in-the-money call option with a low strike price, writing two at-the-money call options, and buying one out-of-the-money call option with a higher strike price. A net debit is created when entering the trade. Short Call Butterfly Spread The short butterfly spread is created by selling one in-the-money call option with a low strike price, buying two at-the-money call options, and selling an out-of-the-money call option at a higher strike price. A net credit is created when entering the position. This position profits if the price of the underlying moves toward the upper or lower strike price.Long Put Butterfly Spread The long put butterfly spread is created by buying one put with a lower strike price, selling two at-the-money puts, and buying a put with a higher strike price. A net debit is created when entering the position. Like the long call butterfly, this position has maximum profit when the underlying stays at the strike price of the middle options. Short Put Butterfly Spread The short put butterfly spread is created by writing one out-of-the-money put option with a low strike price, buying two at-the-money puts, and writing an in-the-money put option at a higher strike price. This strategy profits if the underlying moves toward the upper or lower strike prices.Iron Butterfly Spread The iron butterfly spread is created by buying an out-of-the-money put option with a lower strike price, writing an at-the-money put option with a middle strike price, writing an at-the-money call option with a middle strike price, and buying an out-of-the-money call option with a higher strike price. The result is a trade with a net credit that's best suited for lower volatility scenarios. The maximum profit occurs if the underlying stays at the middle strike price. Reverse Iron Butterfly Spread The reverse iron butterfly spread is created by writing an out-of-the-money put option at a lower strike price, buying an at-the-money put option at a middle strike price, buying an at-the-money call option at a middle strike price, and writing an out-of-the-money call option at a higher strike price. This creates a net debit trade that's best suited for high-volatility scenarios. Profit occurs when the price of the underlying moves toward the upper or lower strike prices.Commissions can add up when trading butterfly spreads because of the multiple options positions involved.Watch Patrick's other videos on Options. https://www.youtube.com/watch?v=qKMIFvgt8wI&list=PLHC72UlhAthA_t0MRcYRxYp2NZRIXSVWA Learn more about your ad choices. Visit megaphone.fm/adchoices What is a Butterfly Spread? - Options Trading Strategies Explained

These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

What is a Butterfly Spread?
A butterfly spread is an option strategy that combines bull and bear spreads. Butterfly spreads use four option contracts with the same expiration but three different strike prices. The trader sells two option contracts at the middle strike price, buys one option contract at a lower strike price, and buys another option contract at a higher strike price. Puts or calls can be used for a butterfly spread. The strategy is used when the trader believes the price of the underlying asset will not deviate much from the current price. Butterfly spreads have limited risk, and the maximum loss is the net premium paid to take the position. Profit is also capped.

Long Call Butterfly Spread
The long butterfly call spread is created by buying one in-the-money call option with a low strike price, writing two at-the-money call options, and buying one out-of-the-money call option with a higher strike price. A net debit is created when entering the trade.

Short Call Butterfly Spread
The short butterfly spread is created by selling one in-the-money call option with a low strike price, buying two at-the-money call options, and selling an out-of-the-money call option at a higher strike price. A net credit is created when entering the position. This position profits if the price of the underlying moves toward the upper or lower strike price.

Long Put Butterfly Spread
The long put butterfly spread is created by buying one put with a lower strike price, selling two at-the-money puts, and buying a put with a higher strike price. A net debit is created when entering the position. Like the long call butterfly, this position has maximum profit when the underlying stays at the strike price of the middle options.

Short Put Butterfly Spread
The short put butterfly spread is created by writing one out-of-the-money put option with a low strike price, buying two at-the-money puts, and writing an in-the-money put option at a higher strike price. This strategy profits if the underlying moves toward the upper or lower strike prices.

Iron Butterfly Spread
The iron butterfly spread is created by buying an out-of-the-money put option with a lower strike price, writing an at-the-money put option with a middle strike price, writing an at-the-money call option with a middle strike price, and buying an out-of-the-money call option with a higher strike price. The result is a trade with a net credit that's best suited for lower volatility scenarios. The maximum profit occurs if the underlying stays at the middle strike price.

Reverse Iron Butterfly Spread
The reverse iron butterfly spread is created by writing an out-of-the-money put option at a lower strike price, buying an at-the-money put option at a middle strike price, buying an at-the-money call option at a middle strike price, and writing an out-of-the-money call option at a higher strike price. This creates a net debit trade that's best suited for high-volatility scenarios. Profit occurs when the price of the underlying moves toward the upper or lower strike prices.

Commissions can add up when trading butterfly spreads because of the multiple options positions involved.


Watch Patrick's other videos on Options. https://www.youtube.com/watch?v=qKMIFvgt8wI&list=PLHC72UlhAthA_t0MRcYRxYp2NZRIXSVWA

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 398 no What Trump's China Visit Actually Achieved. Try Mammouth AI now at http://mammouth.aiAs Donald Trump and Xi Jinping wrap up their summit in Beijing with little more to show for it than a few awkward handshakes, the media is left wondering where the big breakthrough went. But as we explore in this video, the failure of the "beans and Boeings" summit wasn’t a political failure—it was a certainty. Relying on the insights of economist Michael Pettis, we break down why trade surpluses and deficits are driven by domestic savings and investment choices, rather than trade policies or tariffs. From China’s systematic suppression of household consumption to the United States' structural trap as the global consumer of last resort, the underlying economic imbalances forcing this trade war cannot be fixed by podium announcements. Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Thu, 29 Oct 2026 20:32:43 -0000 full Patrick Boyle Try Mammouth AI now at http://mammouth.aiAs Donald Trump and Xi Jinping wrap up their summit in Beijing with little more to show for it than a few awkward handshakes, the media is left wondering where the big breakthrough went. But as we explore in this video, the failure of the "beans and Boeings" summit wasn’t a political failure—it was a certainty. Relying on the insights of economist Michael Pettis, we break down why trade surpluses and deficits are driven by domestic savings and investment choices, rather than trade policies or tariffs. From China’s systematic suppression of household consumption to the United States' structural trap as the global consumer of last resort, the underlying economic imbalances forcing this trade war cannot be fixed by podium announcements. Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Try Mammouth AI now at http://mammouth.ai

As Donald Trump and Xi Jinping wrap up their summit in Beijing with little more to show for it than a few awkward handshakes, the media is left wondering where the big breakthrough went. But as we explore in this video, the failure of the "beans and Boeings" summit wasn’t a political failure—it was a certainty. Relying on the insights of economist Michael Pettis, we break down why trade surpluses and deficits are driven by domestic savings and investment choices, rather than trade policies or tariffs. From China’s systematic suppression of household consumption to the United States' structural trap as the global consumer of last resort, the underlying economic imbalances forcing this trade war cannot be fixed by podium announcements.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
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]]> 2154 no Watch Market Collapse! Why Did Secondary Market Prices Fall So Much? To try everything Brilliant has to offer for free for a full 30 days, visit https://brilliant.org/patrick/. You’ll also get 20% off an annual premium subscription.Prices for the most in-demand luxury watches have been in freefall on the secondary market since March 2022 as a pandemic-era rally fizzled. Are luxury watches a good investment, how do watch prices perform in the long run?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Thu, 29 Oct 2026 20:27:30 -0000 full Patrick Boyle To try everything Brilliant has to offer for free for a full 30 days, visit https://brilliant.org/patrick/. You’ll also get 20% off an annual premium subscription.Prices for the most in-demand luxury watches have been in freefall on the secondary market since March 2022 as a pandemic-era rally fizzled. Are luxury watches a good investment, how do watch prices perform in the long run?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices To try everything Brilliant has to offer for free for a full 30 days, visit https://brilliant.org/patrick/. You’ll also get 20% off an annual premium subscription.

Prices for the most in-demand luxury watches have been in freefall on the secondary market since March 2022 as a pandemic-era rally fizzled. Are luxury watches a good investment, how do watch prices perform in the long run?

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2295 no The Minimum Variance Hedge Ratio and Beta Hedging using Futures These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleOne problem with using financial futures contracts to hedge a portfolio of assets, is that a perfect futures contract may not exist. Thus a perfect hedge cannot be achieved.An example would be, if an airline company executive wished to hedge the company's exposure to jet fuel prices, and found that there was no jet fuel futures market or if they found that a futures market exists but it is so illiquid that it is functionally useless.The CFO then needs to find a way to use a different contract that is highly correlated with the underlying asset and has a similar variance. This is done using the minimum variance hedge ratio.The minimum variance hedge ratio (or optimal hedge ratio) is the ratio of futures position relative to the spot position that minimizes the variance of the position. In this video we will learn how to do this calculation.We also learn how to use beta in hedging a portfolio of stocks using S&P500 index futures.minimum variance portfolio.beta hedging equity portfolio Learn more about your ad choices. Visit megaphone.fm/adchoices Thu, 29 Oct 2026 19:58:45 -0000 full Patrick Boyle These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleOne problem with using financial futures contracts to hedge a portfolio of assets, is that a perfect futures contract may not exist. Thus a perfect hedge cannot be achieved.An example would be, if an airline company executive wished to hedge the company's exposure to jet fuel prices, and found that there was no jet fuel futures market or if they found that a futures market exists but it is so illiquid that it is functionally useless.The CFO then needs to find a way to use a different contract that is highly correlated with the underlying asset and has a similar variance. This is done using the minimum variance hedge ratio.The minimum variance hedge ratio (or optimal hedge ratio) is the ratio of futures position relative to the spot position that minimizes the variance of the position. In this video we will learn how to do this calculation.We also learn how to use beta in hedging a portfolio of stocks using S&P500 index futures.minimum variance portfolio.beta hedging equity portfolio Learn more about your ad choices. Visit megaphone.fm/adchoices These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

One problem with using financial futures contracts to hedge a portfolio of assets, is that a perfect futures contract may not exist. Thus a perfect hedge cannot be achieved.

An example would be, if an airline company executive wished to hedge the company's exposure to jet fuel prices, and found that there was no jet fuel futures market or if they found that a futures market exists but it is so illiquid that it is functionally useless.

The CFO then needs to find a way to use a different contract that is highly correlated with the underlying asset and has a similar variance. This is done using the minimum variance hedge ratio.
The minimum variance hedge ratio (or optimal hedge ratio) is the ratio of futures position relative to the spot position that minimizes the variance of the position. In this video we will learn how to do this calculation.

We also learn how to use beta in hedging a portfolio of stocks using S&P500 index futures.

minimum variance portfolio.

beta hedging equity portfolio

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 492 no DeepSeek - How a Chinese AI Startup Shook Silicon Valley Ad: 🔒Remove your personal information from the web at https://joindeleteme.com/BOYLE and use code BOYLE for 20% off 🙌 DeleteMe international Plans: https://international.joindeleteme.comOn Monday, over a trillion dollars was wiped off the US stock market due to the appearance of a Chinese artificial intelligence start-up DeepSeek.The release of a new reasoning model, known as R1, led investors to question US dominance in tech, their expectations around future AI capex while also raising the prospect that China might beat Silicon Valley at its own game.The new DeepSeek model can “reason” to solve complex problems and performs as well as the AI software from US tech giants like Google and OpenAI, but was apparently developed at a fraction of the price of those models.DeepSeek quickly overtook OpenAI’s ChatGPT as the most-downloaded free app on the US iOS App store.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Thu, 29 Oct 2026 19:30:00 -0000 full Patrick Boyle Ad: 🔒Remove your personal information from the web at https://joindeleteme.com/BOYLE and use code BOYLE for 20% off 🙌 DeleteMe international Plans: https://international.joindeleteme.comOn Monday, over a trillion dollars was wiped off the US stock market due to the appearance of a Chinese artificial intelligence start-up DeepSeek.The release of a new reasoning model, known as R1, led investors to question US dominance in tech, their expectations around future AI capex while also raising the prospect that China might beat Silicon Valley at its own game.The new DeepSeek model can “reason” to solve complex problems and performs as well as the AI software from US tech giants like Google and OpenAI, but was apparently developed at a fraction of the price of those models.DeepSeek quickly overtook OpenAI’s ChatGPT as the most-downloaded free app on the US iOS App store.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Ad: 🔒Remove your personal information from the web at https://joindeleteme.com/BOYLE and use code BOYLE for 20% off 🙌 DeleteMe international Plans: https://international.joindeleteme.com


On Monday, over a trillion dollars was wiped off the US stock market due to the appearance of a Chinese artificial intelligence start-up DeepSeek.

The release of a new reasoning model, known as R1, led investors to question US dominance in tech, their expectations around future AI capex while also raising the prospect that China might beat Silicon Valley at its own game.

The new DeepSeek model can “reason” to solve complex problems and performs as well as the AI software from US tech giants like Google and OpenAI, but was apparently developed at a fraction of the price of those models.

DeepSeek quickly overtook OpenAI’s ChatGPT as the most-downloaded free app on the US iOS App store.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2459 no Applied Portfolio Management | Hedge Funds (Part 2) How Hedge Funds Invest | Trading Strategies All slides are available on my Patreon page: https://www.patreon.com/PatrickBoyleOnFinanceApplied Portfolio Management - How Hedge Funds Invest. Part TwoIn yesterdays class we learned what a hedge fund is, why people invest in them, and how hedge funds and other alternative investments might add value in a diversified portfolio. Today we talk about a number of hedge fund strategies such as merger arbitrage or event driven, index arbitrage, index adds and deletes, macro investing, statistical arbitrage, pairs trading and share class trades. We learn how these strategies work, and what the returns look like. Watch the whole series to learn everything you need to know about asset management.Books mentioned in the videos:When Genius failed by Roger Lowenstein https://amzn.to/2WZt28hCorporate Finance by McDougall and Boyle https://amzn.to/3avUEp7Buy The Book Here: https://amzn.to/2J2kF3AVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices Thu, 29 Oct 2026 19:30:00 -0000 full Patrick Boyle All slides are available on my Patreon page: https://www.patreon.com/PatrickBoyleOnFinanceApplied Portfolio Management - How Hedge Funds Invest. Part TwoIn yesterdays class we learned what a hedge fund is, why people invest in them, and how hedge funds and other alternative investments might add value in a diversified portfolio. Today we talk about a number of hedge fund strategies such as merger arbitrage or event driven, index arbitrage, index adds and deletes, macro investing, statistical arbitrage, pairs trading and share class trades. We learn how these strategies work, and what the returns look like. Watch the whole series to learn everything you need to know about asset management.Books mentioned in the videos:When Genius failed by Roger Lowenstein https://amzn.to/2WZt28hCorporate Finance by McDougall and Boyle https://amzn.to/3avUEp7Buy The Book Here: https://amzn.to/2J2kF3AVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices All slides are available on my Patreon page: https://www.patreon.com/PatrickBoyleOnFinance

Applied Portfolio Management - How Hedge Funds Invest. Part Two

In yesterdays class we learned what a hedge fund is, why people invest in them, and how hedge funds and other alternative investments might add value in a diversified portfolio.

Today we talk about a number of hedge fund strategies such as merger arbitrage or event driven, index arbitrage, index adds and deletes, macro investing, statistical arbitrage, pairs trading and share class trades. We learn how these strategies work, and what the returns look like.

Watch the whole series to learn everything you need to know about asset management.

Books mentioned in the videos:
When Genius failed by Roger Lowenstein https://amzn.to/2WZt28h
Corporate Finance by McDougall and Boyle https://amzn.to/3avUEp7



Buy The Book Here: https://amzn.to/2J2kF3A
Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 4774 no Should We Subsidize Foreign Companies? Level up your business today with Odoo by clicking this link: https://www.odoo.com/r/YQWThe British government is closing in on a bailout of the Chinese owned British Steel in which taxpayers would inject £600 million pounds into the group.British Steel is one of only two manufacturers of “virgin steel” in the UK alongside Tata Steel at Port Talbot in Wales which some industry experts claim is strategically important. Tata is in more advanced talks of its own with the government over a similar bailout.The British government wants the steel mills to switch from using blast furnaces to more environmentally friendly electric arc furnaces at a cost of £1.25 billion to help achieve Britain's net zero goals. Unions warn that even if the deal is approved, 2,300 jobs would be lost, because EAF is far less labour-intensive than traditional production methods.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleEd Conway Blog:https://edconway.substack.com/p/does-it-really-matter-if-we-cantMaterial World by Ed Conway: https://amzn.to/3z3LORcVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Thu, 29 Oct 2026 19:27:16 -0000 full Patrick Boyle Level up your business today with Odoo by clicking this link: https://www.odoo.com/r/YQWThe British government is closing in on a bailout of the Chinese owned British Steel in which taxpayers would inject £600 million pounds into the group.British Steel is one of only two manufacturers of “virgin steel” in the UK alongside Tata Steel at Port Talbot in Wales which some industry experts claim is strategically important. Tata is in more advanced talks of its own with the government over a similar bailout.The British government wants the steel mills to switch from using blast furnaces to more environmentally friendly electric arc furnaces at a cost of £1.25 billion to help achieve Britain's net zero goals. Unions warn that even if the deal is approved, 2,300 jobs would be lost, because EAF is far less labour-intensive than traditional production methods.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleEd Conway Blog:https://edconway.substack.com/p/does-it-really-matter-if-we-cantMaterial World by Ed Conway: https://amzn.to/3z3LORcVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoyleBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Level up your business today with Odoo by clicking this link: https://www.odoo.com/r/YQW

The British government is closing in on a bailout of the Chinese owned British Steel in which taxpayers would inject £600 million pounds into the group.

British Steel is one of only two manufacturers of “virgin steel” in the UK alongside Tata Steel at Port Talbot in Wales which some industry experts claim is strategically important. Tata is in more advanced talks of its own with the government over a similar bailout.

The British government wants the steel mills to switch from using blast furnaces to more environmentally friendly electric arc furnaces at a cost of £1.25 billion to help achieve Britain's net zero goals.

Unions warn that even if the deal is approved, 2,300 jobs would be lost, because EAF is far less labour-intensive than traditional production methods.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Ed Conway Blog:
https://edconway.substack.com/p/does-it-really-matter-if-we-cant
Material World by Ed Conway: https://amzn.to/3z3LORc

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2141 no Softbank Didn’t Lose a Penny When Investing $1Bil in Wirecard. How did that work? How did SoftBank appear to invest a billion dollars in Wirecard without losing a penny? The trick is that they didn’t put in any money at all. Not only that, but Softbank employees profited from the trade without Softbank itself profiting. WDI.DEThis is a follow up to my earlier video on Wirecard: https://youtu.be/tVBCXSrk8fsWhen Warren Buffett invests in a company, that the company’s stock goes up, because other investors mimic Warren Buffett and buy the stock too. This is type of thing is often referred to as a “halo effect.”In Silicon Valley, SoftBank has its own halo effect, when Softbank puts money into a company, they are known for introducing the company to their other portfolio companies, creating a virtuous cycle that other investors might want to come along for.What SoftBank appears to have done with their wirecard investment is monetize their halo effect, separate it out from any long term investment returns and simply profit from any pop in valuation from their reputation and stamp of approval from having selected Wirecard.SoftBank never actually put any money into Wirecard according to Bloomberg. Instead, SoftBank facilitated a $1 billion convertible bond deal for the German digital payments company without investing any cash.The trade managed to monetize the SoftBank investment halo, but SoftBank itself didn’t make any money off of it. Senior executives at SoftBank profited from this trade along with the government of Abu Dhabi. SoftBank is now trying to distance itself from Wirecard, now that the German payments company has gone bust. They are seeking to terminate their five-year partnership formed with Wirecard in April 2019, according to a Bloomberg article.If a business is careless with its reputation it can end up losing it. Let me know in the comments below what you think of this SoftBank trade and of Credit Suisse’s involvement?Patricks' Books:Statistics for Traders: https://amzn.to/3eerLA0Derivatives: https://amzn.to/3kwsPSrCorporate Finance: https://amzn.to/3fn3rvCVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePatreon Page: https://www.patreon.com/PatrickBoyleOnFinance Learn more about your ad choices. Visit megaphone.fm/adchoices Thu, 29 Oct 2026 17:30:00 -0000 full Patrick Boyle How did SoftBank appear to invest a billion dollars in Wirecard without losing a penny? The trick is that they didn’t put in any money at all. Not only that, but Softbank employees profited from the trade without Softbank itself profiting. WDI.DEThis is a follow up to my earlier video on Wirecard: https://youtu.be/tVBCXSrk8fsWhen Warren Buffett invests in a company, that the company’s stock goes up, because other investors mimic Warren Buffett and buy the stock too. This is type of thing is often referred to as a “halo effect.”In Silicon Valley, SoftBank has its own halo effect, when Softbank puts money into a company, they are known for introducing the company to their other portfolio companies, creating a virtuous cycle that other investors might want to come along for.What SoftBank appears to have done with their wirecard investment is monetize their halo effect, separate it out from any long term investment returns and simply profit from any pop in valuation from their reputation and stamp of approval from having selected Wirecard.SoftBank never actually put any money into Wirecard according to Bloomberg. Instead, SoftBank facilitated a $1 billion convertible bond deal for the German digital payments company without investing any cash.The trade managed to monetize the SoftBank investment halo, but SoftBank itself didn’t make any money off of it. Senior executives at SoftBank profited from this trade along with the government of Abu Dhabi. SoftBank is now trying to distance itself from Wirecard, now that the German payments company has gone bust. They are seeking to terminate their five-year partnership formed with Wirecard in April 2019, according to a Bloomberg article.If a business is careless with its reputation it can end up losing it. Let me know in the comments below what you think of this SoftBank trade and of Credit Suisse’s involvement?Patricks' Books:Statistics for Traders: https://amzn.to/3eerLA0Derivatives: https://amzn.to/3kwsPSrCorporate Finance: https://amzn.to/3fn3rvCVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePatreon Page: https://www.patreon.com/PatrickBoyleOnFinance Learn more about your ad choices. Visit megaphone.fm/adchoices How did SoftBank appear to invest a billion dollars in Wirecard without losing a penny? The trick is that they didn’t put in any money at all. Not only that, but Softbank employees profited from the trade without Softbank itself profiting. WDI.DE

This is a follow up to my earlier video on Wirecard: https://youtu.be/tVBCXSrk8fs

When Warren Buffett invests in a company, that the company’s stock goes up, because other investors mimic Warren Buffett and buy the stock too. This is type of thing is often referred to as a “halo effect.”

In Silicon Valley, SoftBank has its own halo effect, when Softbank puts money into a company, they are known for introducing the company to their other portfolio companies, creating a virtuous cycle that other investors might want to come along for.

What SoftBank appears to have done with their wirecard investment is monetize their halo effect, separate it out from any long term investment returns and simply profit from any pop in valuation from their reputation and stamp of approval from having selected Wirecard.

SoftBank never actually put any money into Wirecard according to Bloomberg. Instead, SoftBank facilitated a $1 billion convertible bond deal for the German digital payments company without investing any cash.
The trade managed to monetize the SoftBank investment halo, but SoftBank itself didn’t make any money off of it. Senior executives at SoftBank profited from this trade along with the government of Abu Dhabi. SoftBank is now trying to distance itself from Wirecard, now that the German payments company has gone bust. They are seeking to terminate their five-year partnership formed with Wirecard in April 2019, according to a Bloomberg article.

If a business is careless with its reputation it can end up losing it.
Let me know in the comments below what you think of this SoftBank trade and of Credit Suisse’s involvement?


Patricks' Books:
Statistics for Traders: https://amzn.to/3eerLA0
Derivatives: https://amzn.to/3kwsPSr
Corporate Finance: https://amzn.to/3fn3rvC

Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 555 no Pricing Financial Futures (Part 1 of 2) These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoylePricing Futures: When the deliverable asset exists in plentiful supply, or may be freely created, then the price of a futures contract is determined via arbitrage arguments. This is typical for stock index futures, treasury bond futures, and futures on physical commodities when they are in supply. When the deliverable commodity is not in plentiful supply or when it does not yet exist — for example on crops before the harvest or on Eurodollar Futures or Federal funds rate futures (in which the supposed underlying instrument is to be created upon the delivery date) — the futures price cannot be fixed by arbitrage. In this scenario there is only one force setting the price, which is simple supply and demand for the asset in the future, as expressed by supply and demand for the futures contract. See part two of pricing futures for adjustments to the formula that we learn in this video.Make sure you also watch the video on Convenience Yield being released tomorrow. Learn more about your ad choices. Visit megaphone.fm/adchoices Thu, 29 Oct 2026 17:27:16 -0000 full Patrick Boyle These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoylePricing Futures: When the deliverable asset exists in plentiful supply, or may be freely created, then the price of a futures contract is determined via arbitrage arguments. This is typical for stock index futures, treasury bond futures, and futures on physical commodities when they are in supply. When the deliverable commodity is not in plentiful supply or when it does not yet exist — for example on crops before the harvest or on Eurodollar Futures or Federal funds rate futures (in which the supposed underlying instrument is to be created upon the delivery date) — the futures price cannot be fixed by arbitrage. In this scenario there is only one force setting the price, which is simple supply and demand for the asset in the future, as expressed by supply and demand for the futures contract. See part two of pricing futures for adjustments to the formula that we learn in this video.Make sure you also watch the video on Convenience Yield being released tomorrow. Learn more about your ad choices. Visit megaphone.fm/adchoices These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0
Check out our website http://www.onfinance.org/

Follow Patrick on twitter here: https://twitter.com/PatrickEBoyle

Pricing Futures: When the deliverable asset exists in plentiful supply, or may be freely created, then the price of a futures contract is determined via arbitrage arguments. This is typical for stock index futures, treasury bond futures, and futures on physical commodities when they are in supply.

When the deliverable commodity is not in plentiful supply or when it does not yet exist — for example on crops before the harvest or on Eurodollar Futures or Federal funds rate futures (in which the supposed underlying instrument is to be created upon the delivery date) — the futures price cannot be fixed by arbitrage. In this scenario there is only one force setting the price, which is simple supply and demand for the asset in the future, as expressed by supply and demand for the futures contract. See part two of pricing futures for adjustments to the formula that we learn in this video.

Make sure you also watch the video on Convenience Yield being released tomorrow.

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 1089 no Financial Nihilism! Want to restore the planet's ecosystems and see your impact in monthly videos? The first 500 people to join Planet Wild with my code PATRICK6 will get the first month for free at https://planetwild.com/r/patrickboyle/joinIf you want to get to know them better first, check out their latest YouTube video saving lost frogs in Ecuador: https://www.youtube.com/watch?v=z01JHh5Y_DsIf you want to get to know them better first, check out their latest YouTube video saving lost frogs in Ecuador https://planetwild.com/r/patrickboyle/m16Demetri Kofinas came up with the term Financial Nihilism in 2019, describing it as a philosophy that treats the objects of speculation as though they are all intrinsically worthless. Financial nihilism according to Demetri represents an ideological standpoint that questions the value and legitimacy of financial systems, markets, and even the concept of money itself. It doesn’t involve a simple disregard for fundamental reality but a contempt for all fundamentals. The point of view is that the entire system is a scam, and you should thus only view financial markets and prices as a casino.The rise of meme stocks like GameStop and cryptocurrencies are symptoms of this point of view, where pumping financial products in a zero-sum game has become a style of investing for many of millennials who view it as a way to get rich in an essentially meaningless world.John Authers argued in Bloomberg that, the latest bout of speculation, and especially the extraordinary excitement at GameStop, unlike prior bubbles has a different emotional driver: anger. In today's video Patrick explores what got us here and how might this idea affect society.Demetri Kofinas - Hidden Forces link: https://hiddenforces.io/podcasts/ Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Thu, 29 Oct 2026 16:30:00 -0000 full Patrick Boyle Want to restore the planet's ecosystems and see your impact in monthly videos? The first 500 people to join Planet Wild with my code PATRICK6 will get the first month for free at https://planetwild.com/r/patrickboyle/joinIf you want to get to know them better first, check out their latest YouTube video saving lost frogs in Ecuador: https://www.youtube.com/watch?v=z01JHh5Y_DsIf you want to get to know them better first, check out their latest YouTube video saving lost frogs in Ecuador https://planetwild.com/r/patrickboyle/m16Demetri Kofinas came up with the term Financial Nihilism in 2019, describing it as a philosophy that treats the objects of speculation as though they are all intrinsically worthless. Financial nihilism according to Demetri represents an ideological standpoint that questions the value and legitimacy of financial systems, markets, and even the concept of money itself. It doesn’t involve a simple disregard for fundamental reality but a contempt for all fundamentals. The point of view is that the entire system is a scam, and you should thus only view financial markets and prices as a casino.The rise of meme stocks like GameStop and cryptocurrencies are symptoms of this point of view, where pumping financial products in a zero-sum game has become a style of investing for many of millennials who view it as a way to get rich in an essentially meaningless world.John Authers argued in Bloomberg that, the latest bout of speculation, and especially the extraordinary excitement at GameStop, unlike prior bubbles has a different emotional driver: anger. In today's video Patrick explores what got us here and how might this idea affect society.Demetri Kofinas - Hidden Forces link: https://hiddenforces.io/podcasts/ Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Want to restore the planet's ecosystems and see your impact in monthly videos? The first 500 people to join Planet Wild with my code PATRICK6 will get the first month for free at https://planetwild.com/r/patrickboyle/join

If you want to get to know them better first, check out their latest YouTube video saving lost frogs in Ecuador: https://www.youtube.com/watch?v=z01JHh5Y_Ds

If you want to get to know them better first, check out their latest YouTube video saving lost frogs in Ecuador https://planetwild.com/r/patrickboyle/m16

Demetri Kofinas came up with the term Financial Nihilism in 2019, describing it as a philosophy that treats the objects of speculation as though they are all intrinsically worthless.

Financial nihilism according to Demetri represents an ideological standpoint that questions the value and legitimacy of financial systems, markets, and even the concept of money itself. It doesn’t involve a simple disregard for fundamental reality but a contempt for all fundamentals. The point of view is that the entire system is a scam, and you should thus only view financial markets and prices as a casino.

The rise of meme stocks like GameStop and cryptocurrencies are symptoms of this point of view, where pumping financial products in a zero-sum game has become a style of investing for many of millennials who view it as a way to get rich in an essentially meaningless world.

John Authers argued in Bloomberg that, the latest bout of speculation, and especially the extraordinary excitement at GameStop, unlike prior bubbles has a different emotional driver: anger.

In today's video Patrick explores what got us here and how might this idea affect society.

Demetri Kofinas - Hidden Forces link: https://hiddenforces.io/podcasts/
 
Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 1809 no The Dumbest Megaprojects! Ad: 🔒Remove your personal information from the web at https://joindeleteme.com/BOYLE and use code BOYLE for 20% off 🙌 DeleteMe international Plans: https://international.joindeleteme.comFrom skyscrapers in the middle of nowhere, to man-made islands that are sinking into the sea. And from abandoned buildings to foolish transportation infrastructure - let's look at the world's most useless megaprojects.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Thu, 29 Oct 2026 16:24:32 -0000 full Patrick Boyle Ad: 🔒Remove your personal information from the web at https://joindeleteme.com/BOYLE and use code BOYLE for 20% off 🙌 DeleteMe international Plans: https://international.joindeleteme.comFrom skyscrapers in the middle of nowhere, to man-made islands that are sinking into the sea. And from abandoned buildings to foolish transportation infrastructure - let's look at the world's most useless megaprojects.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ sponsors@onfinance.orgPatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices Ad: 🔒Remove your personal information from the web at https://joindeleteme.com/BOYLE and use code BOYLE for 20% off 🙌 DeleteMe international Plans: https://international.joindeleteme.com

From skyscrapers in the middle of nowhere, to man-made islands that are sinking into the sea. And from abandoned buildings to foolish transportation infrastructure - let's look at the world's most useless megaprojects.

Patrick's Books:
Statistics For The Trading Floor: https://amzn.to/3eerLA0
Derivatives For The Trading Floor: https://amzn.to/3cjsyPF
Corporate Finance: https://amzn.to/3fn3rvC

Ways To Support The Channel
Patreon: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://www.buymeacoffee.com/patrickboyle

Visit our website: https://www.onfinance.org
Follow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.social

Business Inquiries ➡️ sponsors@onfinance.org

Patrick Boyle On Finance Podcast:
Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0b
Apple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313
Google Podcasts: https://tinyurl.com/62862nve

Join this channel to support making this content:
https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 2254 no What Happened at Wirecard? | Why did Wirecard go Bust? | Accounting Fraud WDI.DE Scandal Todays video is all about the Wirecard Scandal. Wirecard a German payments company announced that they are filing for insolvency this morning. We will learn what happened at Wirecard, what Wirecard does, and how they became the new Enron. Why did Wirecard go bust? WDI.DEWatch my follow up video here on how SoftBank appeared to invest $1 billion in Wirecard without losing a penny: https://youtu.be/J70Ryj9-EMQDan McCrum, at the Financial Times, has been reporting that German fintech company Wirecard was faking some of its revenue, and Wirecard has been angrily fighting back, accusing McCrum of conspiring with short sellers to push down its stock. Last week Wirecard disclosed that some of its cash was missing, and finally this week admitted “that there is a prevailing likelihood that the bank trust account balances in the amount of 1.9 billion EUR do not exist.”So what is Wirecard? It is a firm launched in the late stages of the dotcom boom in 1999 as a payment processor, helping websites collect credit card payments from customers. They almost went bust and in 2002 Markus Braun, a former KPMG consultant, took over as chief executive.In March this year, Wirecards auditor was unable to conclude the audit. In April their accounting firm said that they could not verify that arrangements responsible for “the lion’s share” of Wirecard profits reported from 2016 to 2018 were genuine. On June 18th Wirecard announced that 1.9 billion euros was missing and the next day Markus Braun the CEO Resigned.On June 22nd Wirecard acknowledged that the €1.9bn of cash probably does “not exist”. The next day Markus Braun was arrested and today Wirecard announced that they would file for insolvency.Freelancers around the world are unable to access their money from their prepaid Payoneer card thanks to a recent Wirecard scandal.The German audit watchdog has told prosecutors on November 26th that EY may have acted criminally during its work for Wirecard, a step that significantly escalates the legal and reputational risks for the accounting firm.According to the Financial Times, Apas, the independent government body overseeing Germany’s auditing industry, had sent a report to prosecutors. This is the first time a government agency has said EY may have broken the law during its audits of the German payments group.Patricks' Books: https://amzn.to/3i6dxDlVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePatreon Page: https://www.patreon.com/PatrickBoyleOnFinance Learn more about your ad choices. Visit megaphone.fm/adchoices Thu, 29 Oct 2026 15:30:00 -0000 full Patrick Boyle Todays video is all about the Wirecard Scandal. Wirecard a German payments company announced that they are filing for insolvency this morning. We will learn what happened at Wirecard, what Wirecard does, and how they became the new Enron. Why did Wirecard go bust? WDI.DEWatch my follow up video here on how SoftBank appeared to invest $1 billion in Wirecard without losing a penny: https://youtu.be/J70Ryj9-EMQDan McCrum, at the Financial Times, has been reporting that German fintech company Wirecard was faking some of its revenue, and Wirecard has been angrily fighting back, accusing McCrum of conspiring with short sellers to push down its stock. Last week Wirecard disclosed that some of its cash was missing, and finally this week admitted “that there is a prevailing likelihood that the bank trust account balances in the amount of 1.9 billion EUR do not exist.”So what is Wirecard? It is a firm launched in the late stages of the dotcom boom in 1999 as a payment processor, helping websites collect credit card payments from customers. They almost went bust and in 2002 Markus Braun, a former KPMG consultant, took over as chief executive.In March this year, Wirecards auditor was unable to conclude the audit. In April their accounting firm said that they could not verify that arrangements responsible for “the lion’s share” of Wirecard profits reported from 2016 to 2018 were genuine. On June 18th Wirecard announced that 1.9 billion euros was missing and the next day Markus Braun the CEO Resigned.On June 22nd Wirecard acknowledged that the €1.9bn of cash probably does “not exist”. The next day Markus Braun was arrested and today Wirecard announced that they would file for insolvency.Freelancers around the world are unable to access their money from their prepaid Payoneer card thanks to a recent Wirecard scandal.The German audit watchdog has told prosecutors on November 26th that EY may have acted criminally during its work for Wirecard, a step that significantly escalates the legal and reputational risks for the accounting firm.According to the Financial Times, Apas, the independent government body overseeing Germany’s auditing industry, had sent a report to prosecutors. This is the first time a government agency has said EY may have broken the law during its audits of the German payments group.Patricks' Books: https://amzn.to/3i6dxDlVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePatreon Page: https://www.patreon.com/PatrickBoyleOnFinance Learn more about your ad choices. Visit megaphone.fm/adchoices Todays video is all about the Wirecard Scandal. Wirecard a German payments company announced that they are filing for insolvency this morning. We will learn what happened at Wirecard, what Wirecard does, and how they became the new Enron. Why did Wirecard go bust? WDI.DE

Watch my follow up video here on how SoftBank appeared to invest $1 billion in Wirecard without losing a penny: https://youtu.be/J70Ryj9-EMQ

Dan McCrum, at the Financial Times, has been reporting that German fintech company Wirecard was faking some of its revenue, and Wirecard has been angrily fighting back, accusing McCrum of conspiring with short sellers to push down its stock.

Last week Wirecard disclosed that some of its cash was missing, and finally this week admitted “that there is a prevailing likelihood that the bank trust account balances in the amount of 1.9 billion EUR do not exist.”

So what is Wirecard? It is a firm launched in the late stages of the dotcom boom in 1999 as a payment processor, helping websites collect credit card payments from customers. They almost went bust and in 2002 Markus Braun, a former KPMG consultant, took over as chief executive.

In March this year, Wirecards auditor was unable to conclude the audit. In April their accounting firm said that they could not verify that arrangements responsible for “the lion’s share” of Wirecard profits reported from 2016 to 2018 were genuine. On June 18th Wirecard announced that 1.9 billion euros was missing and the next day Markus Braun the CEO Resigned.

On June 22nd Wirecard acknowledged that the €1.9bn of cash probably does “not exist”. The next day Markus Braun was arrested and today Wirecard announced that they would file for insolvency.

Freelancers around the world are unable to access their money from their prepaid Payoneer card thanks to a recent Wirecard scandal.

The German audit watchdog has told prosecutors on November 26th that EY may have acted criminally during its work for Wirecard, a step that significantly escalates the legal and reputational risks for the accounting firm.

According to the Financial Times, Apas, the independent government body overseeing Germany’s auditing industry, had sent a report to prosecutors. This is the first time a government agency has said EY may have broken the law during its audits of the German payments group.

Patricks' Books: https://amzn.to/3i6dxDl
Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance

Learn more about your ad choices. Visit megaphone.fm/adchoices

]]> 690 no