Deeponomics

Hosted by Deeponomics · Deeponomics

5.0from 8 ratings

41Podcast AuthorityScore out of 100 · How it is scored

19
Episodes: 8
Ratings: Weekly
Cadence: 2025
First episode: 91
YouTube views

About Deeponomics

Deeponomics is a podcast about the deep ideas shaping markets, finance, and accounting — grounded in academic research and critical thinking. Each episode draws from scholarly work to explore how investors make decisions, how narratives influence investments, and how theory connects to real-world finance. Expect conversations with researchers, deep dives into academic papers, and reflections on the stories behind the numbers.

Publisher: Deeponomics
Category: business
Language: en
Explicit: No
First episode: 8 May 2025
Latest episode: 19 Dec 2025

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Latest episodes

19 episodes in the feed.

19 Dec 2025
#17 - Narrative Authority in Financial Markets
Welcome, friend and future deep-dweller! In this episode of Deeponomics, I sit down with Stefan Leins, Professor of Social Anthropology at the University of Bern and author of Stories of Capitalism (https://press.uchicago.edu/ucp/books/book/chicago/S/bo27442087.html), to explore what actually happens inside a financial analyst department at a large Swizz bank. Based on a two-year ethnography, Leins takes us into the everyday world of buy-side financial analysts, a world far more narrative-driven than standard finance theory would ever admit. We talk about how analysts work under radical uncertainty, why narratives matters, and how wildly different strategies, from technical analysis to being inspired by astrology and Fibonacci, coexist under the same institutional roof. A central theme of the conversation is why financial analysts continue to exist despite decades of evidence that markets are difficult, if not impossible, to beat. Leins shows that the real product analysts deliver is not prediction accuracy, but compelling investment narratives that create orientation, agency, and legitimacy in an unknowable future. We dive deep into the idea of narrative authority, how analysts build credibility through narratives rather than prediction accuracy, how forecasts travel through the bank via client advisors and asset managers, and how responsibility for failure is continuously pushed around the organization. Along the way, we unpack how narratives differ from stories, why performativity only gets us part of the way, and what all of this means for investors, banks, and our understanding of expertise in finance. If you are interested in markets as cultural systems, in finance as a narrative practice, or in what really sustains belief in professional expertise under uncertainty, this episode is a must-listen. Click on his name to learn more about Stefan Leins (https://www.anthro.unibe.ch/about_us/people/prof_dr_leins_stefan/index_eng.html)and his work. — Find Us Deep Substack: deeponomics.substack.com Instagram: @deeponomics YouTube: @Deeponomics Website: deeponomics.com Email: ⁠⁠info@deeponomics.com
20 Nov 2025
#16 - The Social Studies of Finance
Welcome, friend and future deep-dweller! In this episode of Deeponomics, I sit down with Yuval Millo, Professor of Accounting at Warwick Business School, to trace the intellectual journey behind the social studies of finance and what it means to take markets seriously as social and reflexive systems. Millo walks us through the early days of the field, including how his investigation into the Black–Scholes option pricing model led him to the idea of performativity and the insight that financial theories don’t just describe markets, they shape them. We dive into his recent work on financial analysts, investors, and the subtle social structures that create market inertia, from overconfidence born in tight networks to the stickiness of buy-side and sell-side relationships. We also explore his research on active fund managers, why so many still persist despite decades of underperformance, and what happens when the rise of passive investing becomes an epistemic threat to the identity of active professionals. Finally, we touch on his newer work on machine learning and credit modeling, where opaque systems risk creating self-referential loops that humans cannot easily escape or evaluate. If you’re curious about how markets actually work once you zoom in on the humans, tools, and stories that animate them, this conversation offers a rare inside view from someone who helped shape the field. Learn more about Yuval Millo: https://www.wbs.ac.uk/about/person/yuval-millo/ (https://search.asu.edu/profile/2393744) — Find Us Deep Substack: deeponomics.substack.com Instagram: @deeponomics YouTube: @Deeponomics Website: deeponomics.com Email: ⁠⁠info@deeponomics.com
23 Sept 2025
#15 - The Human Side of Data Analytics
Welcome, friend and future deep-dweller! In this episode of Deeponomics, we sit down with Eldar Maksymov to explore the human side of data analytics. Maksymov, a Professor at Arizona State University and Visiting Professor at the Stockholm School of Economics, studies how organizations actually make analytics useful in financial reporting and decision-making. His work highlights the human, interpretive, and organizational dimensions that often get overshadowed by the technology itself. We take a deep dive into his recent research based on interviews with American financial executives—uncovering how leaders frame, negotiate, and embed analytics into everyday practice. Along the way, we discuss sensemaking, resistance, and the messy process of transforming underperforming tools into genuinely decision-useful practices. Drawing on qualitative, field-based insights, Maksymov shows that analytics succeeds not because of algorithms alone, but because humans give it meaning, legitimacy, and purpose in complex organizational settings. Learn more about Eldar Maksymov: https://search.asu.edu/profile/2393744 (https://search.asu.edu/profile/2393744) This episode is produced in cooperation with the Stockholm School of Economics podcast, Numbers Talk. It is a longer and less filtered version of that conversation. — Find Us Deep Substack: deeponomics.substack.com Instagram: @deeponomics YouTube: @Deeponomics Website: deeponomics.com Email: ⁠⁠info@deeponomics.com
2 Sept 2025
#14 - The Emergence of Investor Relations
Welcome, friend and future deep-dweller! In this episode of Deeponomics, we sit down with Johan Graaf to learn about the emergence of the field of investor relations. Graaf, an Associate Professor at the Stockholm School of Economics, brings an interdisciplinary and ethnographic approach to the study of accounting as a social and institutional practice. His work explores how accounting shapes equity investment, the role of sell-side equity advisors, and the dynamics of rankings and performance management. We take a deep dive into his current research on Investor Relations in a Swedish context—examining why the profession emerged, what it actually entails, and why practitioners must master a diverse mix of communication, financial understanding, and institutional awareness. Drawing on qualitative, field-based methods, Graaf traces how IR officers navigate increasingly complex demands—from translating accounting and financial analysis into meaningful narratives, to responding to the shifting expectations of fund managers and other capital market actors. Learn more about Johan Graaf: https://www.hhs.se/en/persons/g/graaf-johan/ (https://findanexpert.unimelb.edu.au/profile/75699-les-coleman) This episode is produced in cooperation with the Stockholm School of Economics podcast, Numbers Talk. It is a longer and less filtered version of that conversation. — Find Us Deep Substack: deeponomics.substack.com Instagram: @deeponomics YouTube: @Deeponomics Website: deeponomics.com Email: ⁠⁠info@deeponomics.com
19 Aug 2025
#13 - The Gap Between Modern Finance Theory and the Realities of Investing
Welcome, friend and future deep-dweller! In this episode of Deeponomics, we sit down with Les Coleman to examine the widening gap between modern finance theory and the realities of investing. Coleman, a multidisciplinary researcher and long-time critic of conventional models, takes aim at the limitations of both neoclassical and behavioral finance. While behavioral finance may explain why investors act the way they do, Coleman argues it rarely offers guidance that actually improves decision-making. We explore his view of financial markets as complex closed loop systems—interconnected, adaptive, and inherently difficult to predict. From risk management to the underperformance of active fund managers, Coleman calls for a more grounded, multidisciplinary and applied approach to research. He also shares principles from his own approach to equity investment, including why naive extrapolation of recent data might be the only useful forecasting tool. In the end, Coleman’s message is one of humility: finance offers no certainties, investing is inherently challenging, but questioning assumptions, adapting to change, and drawing on multiple disciplines can improve our approach. Learn more about Les Coleman: https://findanexpert.unimelb.edu.au/profile/75699-les-coleman (https://findanexpert.unimelb.edu.au/profile/75699-les-coleman) — Find Us Deep Substack: deeponomics.substack.com Instagram: @deeponomics YouTube: @Deeponomics Website: deeponomics.com Email: ⁠⁠info@deeponomics.com
29 Jul 2025
#12 - Why Do Financial Forecasts Persist Despite Their Failures?
Welcome, friend and future deep-dweller! In this episode of Deeponomics, we take a closer look at the enduring practice of market forecasting—despite decades of evidence showing how rarely it works. We explore three major schools of thought—neoclassical, behavioral, and institutional economics—to see whether any of them can justify the financial analyst’s role. Each offers a different lens on why forecasts are made, but none quite explains why they should work. In the end, we suggest that forecasting is not really about prediction. It is about sensemaking. In a world of uncertainty, forecasts offer structure, direction, and a shared story we can act on—even when the future remains unknown. References: Leins, S. (2018) Stories of Capitalism: Inside the Role of Financial Analysts. Chicago: University of Chicago Press. Working, H. (1934) ‘A random-difference series for use in the analysis of time series’, Journal of the American Statistical Association, 29(185), pp. 11–24. Kendall, M.G. (1953) ‘The analysis of economic time series’, Journal of the Royal Statistical Society. Series A (General), 116(1), pp. 11–34. Osborne, M.F.M. (1959) ‘Brownian motion in the stock market’, Operations Research, 7(2), pp. 145–173. — Find Us Deep Substack: deeponomics.substack.com Instagram: @deeponomics YouTube: @Deeponomics Website: deeponomics.com Email: ⁠info@deeponomics.com
22 Jul 2025
#11 - What Makes a Decision Good?
Welcome, friend and future deep-dweller! In this episode of Deeponomics, we explore what makes a decision good — and why the answer has less to do with outcomes than you might think. From a snowstorm at Narva in 1700 to Darwin’s pro-and-con list on marriage, we reflect on how decision-making is shaped not only by reason but by bias, framing, inertia, and emotion. Along the way, we question what it means to decide well — in finance, in economics, in life. We also meet some of the usual suspects: confirmation bias, the sunk cost fallacy, anchoring, overconfidence, and more. But rather than stopping at diagnosis, we examine tools and “cognitive repairs” that might help us decide better under uncertainty. This one is about process. About being less wrong. And about learning to live with the fact that even a good decision can lead to a bad result — and vice versa. References: Kahneman, D. (2011). Thinking, Fast and Slow. Montier, J. (2006). Behaving Badly. — Find Us Deep Substack: deeponomics.substack.com Instagram: @deeponomics YouTube: @Deeponomics Website: deeponomics.com Email: info@deeponomics.com
15 Jul 2025
#10 - Do the Books Really Matter?
Welcome, friend and future deep-dweller! In this episode of Deeponomics, we bring accounting into the conversation—not as a neutral record of facts, but as a system built on choices, assumptions, and storytelling. We trace how the connection between book values and market prices has weakened over time, and explore what happens when the numbers we rely on reflect only part of the picture. References: Hines, R. D. (1988). Financial accounting: In communicating reality, we construct reality. Accounting, Organizations and Society, 13(3), 251–261. Hopwood, A. G. (1976). The path ahead. Accounting, Organizations and Society, 1(1), 1–4. Lev, B., & Gu, F. (2016). The End of Accounting and the Path Forward for Investors and Managers. Wiley. Broadbent, J. (1998). The gendered nature of accounting logic: Pointers to an accounting that encompasses multiple values. Critical Perspectives on Accounting, 9(3), 267–297. Young, J. J. (2006). Making up users. Accounting, Organizations and Society, 31(6), 579–600. Power, M. (1997). The Audit Society: Rituals of Verification. Oxford University Press. — Find Us Deep Substack: deeponomics.substack.com Instagram: @deeponomics YouTube: @Deeponomics Website: deeponomics.com Email: info@deeponomics.com
8 Jul 2025
#9 - Who Does the Representative Agent Really Represent?
The host explores the concept of the Representative Agent in economic models, questioning its dominance and the potential drawbacks of using a single fictional individual to represent millions.
1 Jul 2025
#8 - Can We Trust Financial Information? And Should Audits Be Abolished?
Investigative journalist Francine McKenna discusses the role of audits, the nature of accounting, and the trustworthiness of financial information in this interview episode.
24 Jun 2025
#7 - To the Moon: WallStreetBets, GameStop, and the Rise of Popular Expertise
Professors Hervé Stolowy and Luc Paugam analyze the WallStreetBets movement and its challenge to traditional financial expertise through memes and collective action, impacting market behavior in this interview episode.
17 Jun 2025
#6 - What Is Information?
The host of Deeponomics podcast explores the concept of information in financial markets, defining its characteristics and examining its impact on price movements, even in the absence of apparent events.
10 Jun 2025
#5 - The Rational Man Is a Fable
The host of Deeponomics discusses the concept of the "rational man" in economic theory, arguing it is a fictional construct used for modeling rather than reflecting real-world behavior.
3 Jun 2025
#4 - Returns Do Not Age Well
The host of Deeponomics examines research suggesting investment performance may decline with age due to fading risk appetite and eroding sharpness, impacting financial markets.
27 May 2025
#3 - The Trouble With Time
Deeponomics podcast explores the conventional finance treatment of time as mathematically precise, constant, and objective, and how this assumption falters when considering human psychology, perception, and behavior.
20 May 2025
#2 - The Risk-Return Tradeoff, Reconsidered
Welcome, friend and future deep-dweller! This is the second monologue episode of Deeponomics—a podcast exploring the research, deep ideas, and theories shaping markets, finance, and accounting. In this episode, we revisit one of finance’s most fundamental principles—the risk-return tradeoff—and examine why the relationship between risk and reward may not be as straightforward as traditional theory suggests. References: Bali, T.G., 2008. The intertemporal relation between expected returns and risk. Journal of Financial Economics, 87(1), pp.101–131. Subscribe to follow along as we speak with researchers, unpack academic work, and challenge surface-level stories about markets. — Find Us Deep Substack: ⁠⁠deeponomics.substack.com⁠⁠ Instagram: ⁠⁠@deeponomics ⁠⁠YouTube: ⁠⁠@Deeponomics⁠⁠ Website: ⁠⁠deeponomics.com Email: ⁠⁠info@deeponomics.com⁠
13 May 2025
#1 - The Efficient Market Hypothesis Eats Itself
Welcome, friend and future deep-dweller! This is the very first monologue episode of Deeponomics—a podcast exploring the research, deep ideas, and theories shaping markets, finance, and accounting. In this short premiere, we explore one of mainstream finance’s most foundational theories—the Efficient Market Hypothesis (EMH)—and dig into its core assumptions and key shortcomings. References: Fama, E.F. (1970). Efficient Capital Markets: A Review of Theory and Empirical Work. Journal of Finance, 25(2), pp.383–417. Grossman, S.J. and Stiglitz, J.E. (1980). On the Impossibility of Informationally Efficient Markets. American Economic Review, 70(3), pp.393–408. Jeng, L.A., Metrick, A., and Zeckhauser, R. (2003). Estimating the Returns to Insider Trading: A Performance-Evaluation Perspective. Review of Economics and Statistics, 85(2), pp.453–471. Subscribe to follow along as we speak with researchers, unpack academic work, and challenge surface-level stories about markets. — Find Us Deep Substack: ⁠deeponomics.substack.com⁠ (https://deeponomics.substack.com) Instagram: ⁠@deeponomics⁠ (https://www.instagram.com/deeponomics) YouTube: ⁠@Deeponomics⁠ (https://www.youtube.com/@Deeponomics) Website: ⁠deeponomics.com⁠ (https://www.deeponomics.com) Email: ⁠info@deeponomics.com
9 May 2025
Deeponomics Credo
Welcome friend and future deep-dweller! This is the Credo for Deeponomics — a podcast about the research, deep ideas, and theories shaping markets, finance, and accounting. In this short credo, you will hear what Deeponomics stands for, the kinds of questions we will explore, and why we believe there is a need for a space where we can pause, go deeper, and critically examine the theories and assumptions that mainstream finance is built on. See it as an elaboration and continuation of a typical trailer episode, but with more depth into the why. Subscribe to follow along as we speak with researchers, unpack academic work, and challenge the surface-level stories of markets. — Find Us Deep Substack: ⁠deeponomics.substack.com⁠ (https://deeponomics.substack.com) Instagram: ⁠@deeponomics⁠ (https://www.instagram.com/deeponomics) YouTube: ⁠@Deeponomics⁠ (https://www.youtube.com/@Deeponomics) Website: ⁠deeponomics.com⁠ (https://www.deeponomics.com) Email: ⁠info@deeponomics.com
8 May 2025
Deeponomics - Trailer Episode
Welcome to Deeponomics friend and future deep-dweller! This short trailer episode introduces the purpose and perspective behind the project. Deeponomics isn’t about market forecasts or personal finance hacks. It’s about taking a step back—to examine the deeper structures, theories, and assumptions that shape how we understand finance, investing, and markets. Through an academic but accessible lens, we’ll explore the ideas that often stay beneath the surface. In this episode, I (Johan) share what you can expect: solo episodes unpacking key concepts, interviews with researchers discussing their work, and conversations with practitioners reflecting on the gap between theory and practice. It’s also the beginning of my own journey as a PhD student, studying capital markets through a qualitative lens—and I’ll be bringing you along for the ride. Subscribe to follow along as we speak with researchers, unpack academic work, and challenge the surface-level stories of markets. — Find Us Deep Substack: ⁠⁠deeponomics.substack.com⁠⁠ (https://deeponomics.substack.com) Instagram: ⁠⁠@deeponomics⁠⁠ (https://www.instagram.com/deeponomics) YouTube: ⁠⁠@Deeponomics⁠⁠ (https://www.youtube.com/@Deeponomics) Website: ⁠⁠deeponomics.com⁠⁠ (https://www.deeponomics.com) Email: ⁠⁠info@deeponomics.com

Who has been a guest on Deeponomics

Names identified in recent episode analyses. Showing up to five guests.

Francine McKenna
Hervé Stolowy
Luc Paugam

Reach and audience

Public platform figures. Ratings count people who left a rating, not total listeners.

YouTube views: 91; Score snapshot 15 Sept 2025
Spotify: 5.0 / 5; 8 ratings

Podcast Authority Score: 41 / 100

A composite of feed quality, social presence, YouTube performance and engagement. Read the methodology.

Quality: 45
Social presence: 0
YouTube: 63
Engagement: 32

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Deeponomics

About Deeponomics

Latest episodes

#17 - Narrative Authority in Financial Markets

#16 - The Social Studies of Finance

#15 - The Human Side of Data Analytics

#14 - The Emergence of Investor Relations

#13 - The Gap Between Modern Finance Theory and the Realities of Investing

#12 - Why Do Financial Forecasts Persist Despite Their Failures?

#11 - What Makes a Decision Good?

#10 - Do the Books Really Matter?

#9 - Who Does the Representative Agent Really Represent?

#8 - Can We Trust Financial Information? And Should Audits Be Abolished?

#7 - To the Moon: WallStreetBets, GameStop, and the Rise of Popular Expertise

#6 - What Is Information?

#5 - The Rational Man Is a Fable

#4 - Returns Do Not Age Well

#3 - The Trouble With Time

#2 - The Risk-Return Tradeoff, Reconsidered

#1 - The Efficient Market Hypothesis Eats Itself

Deeponomics Credo

Deeponomics - Trailer Episode