2023 Off Street Podcast Awards

As 2023 comes to a close, we wanted to take a moment to appreciate the key economic players in the ups and downs of this year’s market. What better way to celebrate, and at times commiserate, than with the Off Street podcast’s very own annual awards show. Recently we asked listeners to vote on key figures, funds, and financial happenings that left their mark on the 2023 economy. And without further ado, we’d like to present the winners of this year’s Off Street Awards.

Click here to listen to the accompanying Off Street podcast episode:

Or, watch on YouTube below:

Logan Roy Memorial Shocking Executive Decision of the Year Award

Winner: Silicon Valley Bank Exec Team for selling millions of dollars of stock less than 2 weeks before bank’s collapse
Runner-up: Elon Musk for purchasing Twitter and renaming it X
OpenAI Board for firing and then rehiring Sam Altman

Jerome Powell Quote of the Year Award

Winner: Saying a really good inflation report is “as fun as it gets”
Runner-up: “Just close the f***ing door”
“I’ve been a Grateful Dead fan for 50 years”

“Inflation is Transitory” Memorial Strangest Price Change of the Year Award (November 2022—November 2023)

Winner: Eggs: -22.3%
Runner-up: Food from Vending Machines and Mobile Vendors: +14.6%
Admission to Sporting Events: +16.4%

Forbes 30 Under 30 Fiasco of the Year Award

Winner: Sam Bankman-Fried, FTX founder guilty of 7 counts of fraud, lost billions in customer funds
Runner-up: Elizabeth Holmes for beginning an 11-year sentence for part in Theranos fraud
Charlie Javice for being accused of making up millions of fake clients to gain investment from JPMorgan

Comeback Player of the Year Award

Winner: 60/40 Portfolio – Solid returns, reset bond yields higher, after calls that the strategy was dead
Runner-up: Tech Sector: Nasdaq 100 (^NDX) up 52% YTD after being down 33% in 2022
Fun in Economics – Since when do so many people care about economic data?

Bill Ackman “Hell is Coming” Take of the Year Award

Winner: Michael Burry for tweeting “SELL” in January ahead of continued stock rally
Runner-up: Dave Ramsey for saying he’s “perfectly comfortable drawing eight [percent]” each year from retirement portfolios
Chamath Palihapitiya for tweeting “I’m in the arena trying stuff” after investors in his SPACs suffered massive losses

Financial Buzzword/Phrase of the Year Award

Winner: AI Revolution
Runner-up: Higher for Longer
Vibecession

Uncorrelated Story of the Year Award

Winner: Reclining Seats on Airplanes – Arguments over proper airplane seat etiquette
Runner-up: Taco Tuesday – Taco Bell vs. Taco John for the right to the phrase “Taco Tuesday”
Dime Heist – $234,000 in dimes stolen from truck; thieves caught
Florida Man Games – Beer, wrestling, and evading police simulate “Florida Man” experience

Financial Person of the Year Award

Winner: Taylor Swift for stimulating billions in consumer spending with the Eras Tour
Jerome Powell for threading the monetary policy needle (so far)
Sam Altman for bringing AI to the masses

S&P 500 Rollercoaster Ride of the Year Award

Winner: Meta Platforms (META) – Down -64% in 2022, up +178% YTD in 2023
Runner-up: Tesla (TSLA) – Down -65% in 2022, up +106% YTD in 2023
Carnival Corp. (CCL): Down -60% in 2022, up +131% YTD in 2023

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August 2024 Market Commentary: Click here to read