The strongest new long listen is Odds on Open: “Ex-Goldman MD: Credit Markets Move in Step Functions,” with Geoffrey Williams, published October 8 and running 1 hour 22 minutes. Williams traded structured products through 2008, later co-ran Goldman’s CMBS trading business, and now runs opportunistic structured-finance fund 1543 Capital.
Why it earns the time: the publisher’s description moves from the old super-senior protection trade and dealer balance-sheet retreat to current, loan-by-loan underwriting of end-of-life CMBS and residential-solar ABS. The useful tension is between desktop diligence—sometimes down to Google Earth—and position sizing for risks a model did not enumerate. That is closer to an original practitioner account than a recycled private-credit allocation panel. This recommendation is based on the publisher’s episode notes and listing; I have not heard the audio, and no reliable chapter list was exposed. Listen on Apple Podcasts