This week we have a special series of interviews with the co-hosts of Happy Hour from FOX Business Network: Cody Willard, Rebecca Diamond, and Eric Bolling. Happy Hour is unlike any other show in the financial media, and I enjoyed getting the perspective of three young voices who are blazing new trails.

We kick things off with the passionate Cody Willard. Cody is known for speaking his mind and putting his energy into uncovering what’s breaking our financial and political systems. Cody is smart and fearless. We expect his career in financial journalism to project far into the future …

Cody Willard

Cody: I was running a fund for about five years.  However, I had been scaling back and making TV appearances talking about what I was doing at my fund.  I was represented by CAA and Fox Business was launching.  The pieces just fell into place when this Happy Hour opportunity came along.  It was hard to say no to an opportunity like that.  Believe it or not, I actually tried to continue running money when I first took the job.

Damien: Voltaire’s “Best of all possible worlds.”

Cody: [Laughing] Yeah, I thought I’d have my cake and eat it too.  But that didn’t last long.  The NASDAQ was up huge since I started my fund and I had a very good run.  However, during the first two weeks of rehearsals for Happy Hour I was down near 7% while the market was up about 8%.  I was coming to work sick to my stomach and puking.  I quickly realized I was not going to be very good at hosting a show called Happy Hour if I wasn’t happy.

Realistically, you’re always going to have a six month, six week, or six day period when you’re going to get slaughtered.  I knew those times would not be conducive to being a good TV show host.

So, two weeks before we actually did our first broadcast I sold everything, sent every dime back to everybody, and closed the hedge fund.  Then I dove head first into financial journalism.

Damien: You’ve taken a passionate dive into financial journalism. What’s sparked the passion we see from you on TV?

Cody: I came to New York from New Mexico in 1996.  What used to be beautiful about Wall Street was you could put your wits, work ethic, scrappiness, brains, and perseverance on the line against everybody else — may the best person win.  I don’t think that’s nearly the case in the last two years.  All of a sudden I don’t understand what’s happened with the capitalist spirit of Wall Street.  Basically, we are now institutionalizing the concept of socialized losses and personalized gains.  That’s why you see me freak out on TV.  That’s why I am so passionate.

Damien: Do you see your passion spreading?

Cody: Absolutely, I get stopped in the subway by blue collar construction guys, gangster dudes, and every other type of person.  People stop me and say, “Cody, hey man, love that show.  Fight those guys. keep fighting the powers.”

I think there’s a burgeoning movement against the Republican-Democrat regime.  I think over the next four to eight years you’re going to see the Republican-Democrat regime fall.  I think there’s going to be a major power shift.  We’ll have 30% Independents in Congress by 2016.  I think those people who are my fans are hearing what I’m talking about and they really seem to be responding.

Damien: Why do you think people are finally responding to a problem which has existed for a long time?

Cody: People in the media like us are finally calling it as it is.  We’re saying, “This game might have been a little bit rigged, but now it’s ridiculously rigged.  You guys at home need to be freaking out.”  When a journalist reaches out in those terms, people stop and think, “Wait a minute. What is going on over there?”

Plus, I’ve known you from Minyanville and other top sites which link to Wall St. Cheat Sheet.  So, it’s not like we’ve been completely under the radar.  But now I think it is becoming a mainstream movement — and we’re part of that burgeoning movement.

Damien: What does the future of that movement look like in regards to the financial media?

Cody: You hear the term “democratization of media,” and we’ve seen it.  Blogs matter.  People read blogs.  I read blogs as part of my daily routine.  Naked Capitalism is fantastic. Wall St. Cheat Sheet is great.  I don’t think it’s a zero sum game.  We will increasingly have people caring about their money and savings.

We’ve got 10% unemployment right.  That means people are angry and this just isn’t going to go away.  Therefore, there’s more opportunity than ever in financial media and I think it will feed on itself.  It will be a virtuous cycle.  But I don’t think we’ve got a disruption that’s going to take down mainstream media and traditional broadcast journalism.

Damien: Cody, you are a young successful guy. What advice do you have to others who are inspired to follow in your footsteps?

Cody: I got my foot in the door from Jim Cramer at TheStreet.com.  He said, “If you’re an unemployed Wall Street Analyst and you’re looking for work, send us an email.”  I wrote him saying, “I’m not out of work.  I’m not a Wall Street analyst.  But I have a web site.  Check it out.”  Eventually, I got published on The Street.  I told my mom, “You watch.  This is going to be a virtuous cycle.  I can feed off of this.”  And it was.

Seven years later I end up co-hosting a show on FOX Business Network.  I started at Starbucks.  I built myself on the Internet.  I built myself blogging consistently and everyday for five years.  I wrote more than a million words for publication in a five year span.

Also, try to call it as best as you can.  Be frank and open every step of the way.  It’s important to have a 30,000 foot view as much as you can.  Try to have some self awareness about yourself as you’re putting that product out there.  Our media will change, but human nature itself will remain.  People will respect honesty and forthrightness.  That’s the goal.

Damien: Indeed. Well Cody, thanks for taking the time to chat with me and share your inspiring story. You are doing a great job on Happy Hour and we look forward to following your career for a long time to come.

Cody: Damien, this has been awesome.  I appreciate all the kind words.  We will definitely stay in touch.  Keep up the great work.

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