April 5, 2021· 43 min
Why the True Price of a Bond Can Still Be Hard To Know
Orality
Model
91%
Highly oral (epic poetry, sermons, hip-hop)
Speaker Breakdown
HostTracy Alloway(1,235 words)
M:29%
HostJoe Weisenthal(857 words)
M:28%
GuestMaciej Kowara(3,766 words)
M:28%
GuestEric Jacobson(1,310 words)
M:29%
Oral Indicators
Agonistic33%
extremely, very, basically
Engagement67%
you, our, your
Memory Aids100%
listen, like, so
Repetition100%
know (108x), bonds (53x), about (51x)
Parallelism100%
And I'm Joe Weisenthal...., So, Joe, I think, equity marke..., But I am aware that there's al...
Sound Patterns40%
31 question(s), alliteration: "markets move", alliteration: "barclays brief"
Formulaic Phrases13%
the fact of the matter, at the end of the day, i mean
Literate Indicators
Hedging14%
may, might, relatively
Passive Voice7%
is when, is required, be filed
Abstract Nouns16%
investment, community, business
Subordination10%
unless, because, since
Sentence Length46%
Avg: 16.6 words/sentence
Word Complexity45%
investment, analyze, anticipate
Academic Markers0%
Impersonal Style33%
517 personal pronouns found
Descriptive Style93%
apply, lately, extremely
Description
In the modern age, we expect to be able to turn on our computers, enter in a ticker, and know the actual price of a financial instrument, such as a stock or a bond. But this is easier said than done, especially with bonds, and especially with bonds that are infrequently traded. Sometimes, in fact, bond pricing is a matter of opinion. At least that's the contention of Maciej Kowara and Eric Jacobson, analysts at Morningstar, who published a report earlier this year titled “Bond Pricing: Agreeing To Disagree.” They explain why there can still be disagreements about what a bond is actually worth from one firm to another. See omnystudio.com/listener for privacy information.