Horse Pilates: A Mailbag Episode

This podcast episode answers listener questions about various financial topics. It addresses why analysts ask questions on earnings calls, explaining that it's a performative marketing aspect of their job, allowing them to showcase their knowledge and potentially gain favor with companies and investors. The hosts also discuss the motivations of people in finance, with some believing puzzle-solving and intellectual curiosity are more significant drivers than money. Further topics include the role and potential for bias of ISS and Glass-Lewis, the mechanics and tax implications of ETFs, and the reasons why "meme ETFs" are unlikely to take off like meme stocks due to arbitrage mechanisms. Finally, the hosts explore the potential evolution of prediction markets and the rules around share repurchases.