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"barry ritholtz" Discussed on Masters in Business

Masters in Business

13:02 min | 3 months ago

"barry ritholtz" Discussed on Masters in Business

"401k. Extent that they can and then once all of that stops and they can't take any more credit out from anywhere else only then. Do they come to have this sort of come to Jesus moment where they say? Oh my God I think I have to file for bankruptcy right and I would trailing. You're looking at rather than three months. We're looking at sixty seven months from now but I think you're GonNa have an enormous number of cases and I see it as I know. It sounds ridiculous because obviously and self interest more clients is is is more money that comes in. I don't even want this You hear these stories sometimes people in and we don't really change me a lot of respects I would rather people not file and there GONNA be a way out because the emotional toll that this take some people. is underappreciated. When it comes to a lot of this stuff so I think if you see anything it's GonNa be again half a year from now but I'm hoping that Congress bring some relief either within laws themselves. Let's talk a little bit about life in a Brooklyn apartment. I'm assuming you're not on a A three thousand square foot giant apartment. You're in a fairly normal Williamsburg apartment. Are you in a Condo or a CO so? I'm in a condo on the renter condo and fairly normal just to give your audience. Migs why it's ridiculous to live in the city I am Eleven Hundred Square Foot. Which is big For the purposes of New York and a garage for the rest of the country Sweden put Hartman With my wife My almost three year old son and a newborn daughter which again really really great prior to a pandemic as well as a seventy pound English bulldog So I try my best to leave that apartment as much as I can. Then work out of my car Downstairs in your car. No I kid you not my my office I have no problem. Deducting anything Regarding my car my taxes this year my car I have a Nissan Pathfinder that I that I that I got this year at least and I worked six hours a day out of his vehicle because to try and get anything done in what is basically an insane asylum. Upstairs is impossible. I have one area of that apartment. Which is my wife's closet that I work out sometimes and I literally put a laptop on a footstool and close the door. So there's no light anywhere there because if there's light my son will will rip the door open so. I'm two minutes away from a cool pan in a candle. I'm so most of the stuff that that I do is is running downstairs taking calls. I'm doing zooms again And sending emails out from from my car. Is that where we're speaking to you right now? From Your Nissan Pathfinder I am in my Nissan Pathfinder as we speak as as I say my remote office which see the UN. I'm trying to picture this. I so I'm in the driver's seat because God forbid the cops pull up. If I'm double parked or by hydrate I would be able to move and continue my zoom call audio only or I would stop the video itself Occasionally when I need a laptop I will go to the back seat. The Pathfinder is wonderful. In that there's there's a three row capacity here So I can basically go to the third row to take a nap and find me to. I haven't done that as of yet. Barry but this is where my career is taken so so. I lived in the city for a long time. I lived on Lexin and Twenty Eighth Street and I remember what a pain it was dealing with parking but I have to imagine that the New York City Traffic Enforcement Division in the midst of a pandemic of which New York State is a hot spot and New York. City is the hottest hotspot within New York. State have eased up on that sort of stuff. Are you telling me alternates onto the street? Parking is still in effect. No we're good. I'm just neurotic and I don't want to throw pandemic. It has nothing. No one close to anyone barry so I think you may. Yeah so I'm just being on all right so you're sitting in your front seat of the Pathfinder. You tell me a little bit about the technology you use to do your job. What what are you working with? And how you communicating with clients and others the search a variety of things. But obviously I'm taking calls on my phone I'm zooming so this this new thing with With my phone as well Most of my father of course dropbox. I've access to those as well. Look I've been remote and virtual for for a number of years prior to that just because again going from Brooklyn into the city and having two offices so it hasn't really been that bad. The problem is you can't get a lot of work done In the car itself when you have to send emails out literally go up to the apartment When I know my my son is either taking a nap or my wife has them in a different room. And I will hyper focus on sending an hour's worth of email out In that closet. I mentioned that I have a newborn as well also at some ungodly hour of let's say three thirty in the morning when when my daughter is up. I'm also As I'm as I'm feeding her Sending out emails from the Living Room itself so I leverage as much as anyone Canada's Point Mac. Book My iphone and everything else just to again this is you know. I'm not thriving just to survive and I think what you're really seeing to be honest with you And maybe it's a left into certain extent is Every lawyer is dealing with the same thing. Where every person? I'm dealing with you. Same thing right that famous skit where the guy giving an interview and his two kids run behind him. That's just that's just everyone these days so you don't feel weird about it You don't feel about someone showing up with a sweatshirt. on On a video on zoom. Because you know that they're going through the same Hell that you're going to run the day like right. Which makes us Powell. That was a BBC broadcaster whose son came running into the room during a broadcast. He subsequently brought the whole family and during the the lockdown and nobody. Nobody even thought twice about it. So so you're saying you're using a laptop in the car. Are you using any sort of Jet Pack or or Wi fi connection to the laptop or he just using your iphone as a as a connection. Or do you not need that. You just use the IPHONE for the Zoom Conferences. And you could deal with the laptop when you get back up to the to the apartment. I try my best to separate those things because then the second night do listen. My life resembles that of Larry. David quite often so the last thing I need to do is try and connect hotspot connected to someone else's Wifi now this virus I try my best to separate and do the iphone thing. I have brought the laptop down. Use It as a hot spot you know. Sometimes it's better than others sometimes emails that are unfortunately go out very quickly But I try and make it so that if I need to send that e mails I'm running upstairs to can't believe I'm saying this on the Radio Interview. My wife's closet and The rest of the time. I'm in my car doing calls. And everything else on my iphone off of itself so so I'm picturing a street in Williamsburg with all these high rise condos and rows of cars parked. Are you the only person sitting in your car or do you see dozens of other people operating similarly I? I am probably the only person sitting in their car. Half of this neighborhood has fled To God knows where to second homes that I don't have to. Their parents plays and my mother lives at. Miami is we. Don't we don't have that option So there's no one in any cars really other than me I see sometimes the same cops going around and the same sort of people going around and and walking their dogs and everything else. There's there's really not a lot of traffic and the street itself so if you want a picture it's it's really just me running vehicle inside the vehicle itself. Doing Jim Calls sometimes with the windows open when when the weather actually allows me thank you Daniel. Grossberg of rumor dibos real estate and bankruptcy attorney my next guest on our special. Good Friday edition of shelter in place masters in business is a former guest. Joe Davis he is the Chief Economist and investment giant vanguard and I was surprised to learn that he is considered essential personnel during a pandemic. Joe Davis are you not sheltering at home? Are you actually in the Vanguard Office Highbury thanks for having me I am although we For for some time we've taken you know pretty pretty significant steps I'm I'm the only one On my floor here In the building that I work at You know because I'm a part of the Investment Management Group They're just very select personnel. That maybe either in the building or and and we'll be call hot site so with In one sense even though I'm I'm in the office Actually alone so it's And you know sequestered in my office where I can close the door. So it's still. It's pretty much an isolated environment. Any meetings that were having clearly or or video Even for certain crew maybe on campus. Which is you know fairly few so so let me paint a little bit of a picture for those people who have never made it to the enormous campus. That vanguard has In malvern Pennsylvania it is like a college campus with lots of three storey brick buildings. And here's a conference center and there's an auditorium there and here's a parking garage and it goes on for. It feels like thousands of acres. I don't know if I'm overstating it but it's like a giant twenty five thousand student campus and when I've been there many times when you're there there are cars coming and going and people walking around in offices filled with people and Various conference rooms and public facilities. It's a small city. Kinda in the woods of Pennsylvania's is that a fair description buried it. It's it's it's actually a beautiful campus in the suburbs. Spent half hour from Philadelphia Airport so so given that this is normally a bustling city. How different is it today when you walk in? Is it like a weekend is it? How do you compare what you're experiencing today compared to the normal day to day operations vanguard yeah I think it's for For for for I would imagine it's similar to Others in other industries. Maybe around the country You you've feels like a weekend although I can see the highway from From my building And you know very little traffic So even that seems Really out of place You know but I think for you know I I lead a group of roughly sixty five employees around the world I think the what we're fortunate is that we can do our jobs Pretty much anywhere in the world We have wonderful technology We're continuing to operate a day to day as if it's best you can as if we didn't have this You know unfortunately health crisis But you you try to you. I think I think many of my team it's just trying to balance What goes on in your personal life. With your work life even more. So because you're you're often at home Trying to navigate. You know those those two You know there's two worlds you know. I'm I'm isolated here So again e even if Have meeting with someone else who may be in different building. Which again are few and where they're or. They're at home We're just operating all Microsoft teams and I it's been. It's been a real benefit You know you get out some of the cadence Some of your habits but it's. I've actually been pleasantly surprised Help productive you can be You know if you have access to good technology into you know the information you need to do to do your job. You're telling me that a constant stream of people walking into your office to interrupt you with questions or issues or things somehow reduces productivity is. Is that the normal. Workflow is is well. I tell you what there's been challenging is just keeping up.

New York Nissan Pathfinder Brooklyn Williamsburg Barry Congress Joe Davis Vanguard Microsoft Canada Philadelphia Airport UN Pennsylvania Powell Lexin Hartman BBC Larry Sweden
"barry ritholtz" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:40 min | 1 year ago

"barry ritholtz" Discussed on Bloomberg Radio New York

"In business with Barry ritholtz on Bloomberg radio. My special guest today is Lynn Keefer. He is the deputy chief economist at Freddie, MAC, one of the two giant government sponsored entities that securitise is most of the mortgages here in the United States. He comes to us with a B A in economics from the university of Kentucky and a PHD from Ohio State, Len Keefer, welcome to Bloomberg. Hey, happy to be here. So I've been following you on Twitter for a while. We'll get to that in a little bit. I just have to begin with your bio which says, quote, I help people understand the economy housing and mortgage markets that's a noble goal, but how can any single economists accomplish that that's really tough to do. That's more of a mission statement. I try to organize myself how my public life what I'm trying to do. And I think we have some success doing that. There's really sort of two areas where I focus on to try to help people understand what's going on a part of my role. At Freddie, MAC is to help. You know, be a company spokesperson to go out and talk to you know, our various business partners. We have events where you know, we bring together real estate agents loan officers others, and those folks are often very active in the marketplace. But they want to hear, you know, from communist to get a sense of sort of a bigger broader perspective on what's going on what's happening in the global macro economy. And so helping those folks understand given our perspective from what are we doing our research and what we find. I think is part of the way we help do that. And then a second hat. I wear is to help folks inside the company. So that Freddie MAC folks that are really thinking about sort of the mortgage market, the housing market in the United States, very carefully. Give him sort of an economics perspective on how to make sense. Sense of the trends what's happening in how the market may be headed in the future. I left out of your bio that you professor at George Mason. How did you transition from academe? Yeah. To Freddie MAC. Yeah. So it was it was an interesting transition. You know, I went to the highest state and after I graduated actually went to west Texas, Texas Tech university. And was there as a tenure track professor and their program? And my wife is also an economist we met at Ohio State, and she took a job in DC. And I decided that I would follow her better job opportunities in the DC metro than west Texas for economists. And so I followed her to the DC area, and then eventually ended up at Freddie, MAC. So I mentioned earlier your Twitter feed you just fill it with these most delightful charts that a lot of other people don't use. It's not just this is the number of new homes that have been sold. They're very different inside. Full reveals as to what's going on being Neath the surface. Of the housing market. A lot of big companies. And I include Freddie, MAC as really more of a private company. They're not so keen on senior people being out on social media. How have you worked this out with with Freddie, MAC are they encouraging or are they nervous how do you interact with them on the social side? Actually, it was the, Freddie MAC communications. Folks are actually encouraged me to actually get started on Twitter in particular, because we view it as you know, is a great way to get sort insights out. We do a lot of analysis data analysis a lot of that tends to get silos within the organization, and since we're already producing a lot of that information a lot of that is based on public data. I think those observations which are already things we did in sort of other research avenues, I think were Twitter was a great platform to be able to share that insights and information, and so they've been supportive of me engaging in that and trying to get you know, conversation going share insights. Sheriff perspective share some of the things that were seen in the housing market. Because I think within Freddie, MAC, we have an interesting perspective. We have a lot of data a lot of really smart people a lot of insights. And so the stealing some of that down into the public conversation around the housing and mortgage market and the economy is I think well with him sort of my role in the company, and they've been supportive of that. And your Twitter handle is at Lynn Keefer K, I E F E R. I actually the other day re tweeted a graphic you showed and the charts us, they're just a fascinating combination of annual color coded mortgage rates and ensuring on a continual time on how do you? How do you source these things you doing this all in house, where do you create these? Yes. So I actually create a lot of them myself. I'm a big fan of data visualization you asked earlier about the transition from an academic world to an industry world and one of the key fundamental differences between an academic approach to economics in a more industry focused approach is. Is you know, really importance of being salient being clear and having a crisp communication and so in data visualization, which I think is really undergoing a renaissance all the computing technology of the great ideas that people have has really shifted sort of where you know, the dialogue and be in terms of information design how you present information. And so thinking about a new interesting ways to present the same data. I've been working on our mortgage rate survey for close on five years now over five years. Now, we have a weekly mortgage rates are every week. We have a mortgage rate so trying to come up with what's a new perspective. What's interesting to see about that? What's a different way are how can I turn this data and try to look at it in a slightly different way to get a new insight is challenging and so I think data visualization and building graphs and interesting charts the way to do it. And the great news is is that there's a whole ton of people out there who are active share things either through blogs or social media on Twitter. Give me a lot ideas. And in the world, we're in today a lot of the code. Did they use to create those charts are open source? It's relatively easy to pick that up and extended to tweak it to apply it, you know, take something from genomics or biology and applied to economics and finance. I think that's a really rich environment. And so one of the positive aspects of the social media is the ability to sort of quickly share that information and to get it to a broader audience in what you might get to silos within your mortgage finance. Will you do a great job? I'm absolutely entrance by all of your graphics and always tell people follow at Lynn Keefer coming up. We continue our conversation with Lynn Keefer deputy chief economist at.

Freddie MAC Twitter Freddie MAC Lynn Keefer deputy chief United States Len Keefer Barry ritholtz professor Bloomberg Lynn Keefer K university of Kentucky Ohio State DC west Texas
"barry ritholtz" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:38 min | 1 year ago

"barry ritholtz" Discussed on Bloomberg Radio New York

"Barry ritholtz on Bloomberg radio. My special guest today is Francis reimbur- guy he is a real estate developer an author of former literary agent and a philanthropist. He's the founder of time equities one of the larger real estate developers here in Manhattan in New York City, perhaps he is best known as the creator of the residential co op his autobiography is risk game. Self portrait of an entrepreneur Francis. Green burger welcome to Bloomberg expert. So I'm kind of fascinated by your background and your history, and we're going to get into a lot of the details. But the obvious question what sparked your interest in in real estate coming from a background working in the book? Business was pretty intuitive. I remember to this day. I was walking down the streets looking at buildings looking at architecture thinking about built in. Varmints and thinking about real estate in New York and realized that I had some sort of a visceral connection with it that defied my background or any particular particularly logical connection with my past. So in your book risk game. You wrote something that stayed with me, quote, the real estate industry has created far more bankruptcies than billionaires unquote, explain that, well, I think. If if you look around New York, and I was walking here past for instance, Harry Matt close gallery on Park Avenue. You know, Harry, you I know is how to mix career he's had some incredible successes. But he's had some incredible failures all in New York City real estate. So it's about timing. It's about risks. And it's about what you choose to do or not do. So let's talk a little bit about timing and risks. You bought a piece of land down at fifty west street back in the nineteen eighties with the plan to either develop at a redevelopment in the future. And then that piece of property lived through September eleventh and the great financial crisis. Callus a little bit about your history with fifty west. Okay. Actually when I bought it. I wasn't thinking of redeveloping it. I was thinking of it more as an income property, and it was fully leased. I think it made about a ten percent return. So it looked like something I could just hold onto and over time. Watch friends go up and hopefully expenses keep stable in have growing income and growing value. Around. In in the nineties. We lost some tenants and. New York was just beginning to think about downtown as a mixed use environment. I mean that was very non-residential back in the day. Right. Very non-residential although battery park already existed, and there was something older Giuliani plan which offered tax benefits. If you converted commercial properties to residential. So we were actually started to convert part of the building. And was I think one of the first. Properties to qualify under that plan. By one thousand nine hundred by two thousand and five we it may be converted half the building. But there was a lot of major work that we need to consider. And we realized that the sighting of the building was such that if a. If we demolish it and build a new building would be extraordinarily views from the apartments. So we began to study that as an option, and you spend a lot of money on architects, just even thinking about this, right? We spent you know, one of the surprises. When you go into development is land is expensive. Well, preparing plans is very expensive and we develop full plans for the building which at that point was to be a hotel and condominium apartment complex. But our plans got interrupted by the course of events. In the financial world. So let's talk a little bit about that. Here's a building that you're racing to meet the deadline for certain tax advantages. You've already built the foundation. You've sunk a lot of the main support beams. But you haven't started building the building itself and then September fifteenth though, eight Lehman Brothers collapses into bankruptcy. And I think you were talking about a five hundred million dollar financing for the whole project from start to finish. What did the collapse of Lehman Brothers due to that development? Well, I recognized almost immediately that building into that kind of financial environment would be disastrous. So I made the decision very quickly to pull the plug halt development. And wait for better day. Another words not actually give up the property. But hey, let's postpone this project until credit freeze up. Bit credit freeze up and credit is only one part of the equation, if it's for sale housing the way this was condominiums. There ought to be a willing market to buy it because otherwise you might have to financing, but you haven't wouldn't have to pay it back. Right. Makes sense. So, but that ran into a problem almost immediately didn't it. Yes. I had a little misunderstanding with with the Bank who had financed. The foundation construction for me. Even though I told them what I was doing. And they seem to concur. All of a sudden in January. They sent me a letter saying I was in default because my loan required me to continue building. No matter what. And of course, I called him and said, are you crazy? Anyway, I don't really know what was going on within a couple of weeks. They backed off. And we we negotiated the agreement to allow for the interim period that would be needed until the market was was suitable and both from financing point of view as well as a buying point. And how did the building ultimately turn out? Well, it turned out very very well coming.

New York City Lehman Brothers Bloomberg Manhattan Barry ritholtz Harry Matt Francis reimbur Callus founder Giuliani five hundred million dollar ten percent
"barry ritholtz" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:39 min | 1 year ago

"barry ritholtz" Discussed on Bloomberg Radio New York

"Business with Barry ritholtz on Bloomberg radio. My special guest today is David hall. He is a partner at the venture capital fund rise of the rest seed funds part of revolution partners of VC. He comes to us with a BA in economics from Morehouse college in an MBA from Harvard prior to joining revolution. He worked at the Washington Post as the director of planning and developing managing corporate emanate and investments and helping to launch a number of new print and digital publications. David hall. Welcome to Bloomberg. Thank you, berries, pleasure to be here. So I've been speaking to a number of over the past couple of years, and I'm always fascinated by their backgrounds. Your background is a little unusual. How do you get from the Washington Post to the world? Eventually let's start with what what were you doing at the Washington Post? Yeah. So I went to the Washington Post, I actually interned at the Washington Post. Company between my first and second years at at Harvard Business School, and it was for me. It was a perfect place because we're do newly minted NBA's months ago. They want to go to industries that are in crisis. And there was no greater crisis in the two thousand early two thousands than the print newspaper. Let me interrupt you newly minted NBA's wanna go to industries in crisis. I always thought they either wanted to go to high paying Wall Street jobs or high paying Silicon Valley jobs, you're suggesting other I figured I could always end up in one of those high paying coastal jobs, but but for cutting my teeth right needed to manage a business three disruption, and that to me was going to be such an interesting how how how could I be the savior of the great grey lady of of of Washington at least managing a business through disruption. Sounds a lot like what VC's look for in startups. I it's. I was reflecting on on the train up here from from Washington. How much of of what I've been working on? It's been kind of cumulative. It's looking for these these how do you recognize disruption before it hits? And then how do you manage through the disruption, and how do you and now from a from an investor's perspective. How do you manage that process? Sort of indirectly because we're not in the company every day, but we're advising these companies about disruption that's either coming or disruption that hopefully they're creating with their products and services that they're launching quite quite interesting. So that was your first experience in the workforce. How did you tack from that or to venture it's easy to talk about? But it, but it's actually more visual. You know, I was sitting there one day at the Washington Post, and it's the only place I've ever worked where sitting at your desk. Read the newspaper was called product research. And so I was reading an article about Steve case, and the firm that he'd just launched after leaving AOL Time Warner called revolution. It was going to build these big iconic businesses that we're. Going to tackle really tough problems around health care and financial services. And it just was so exciting to me and said, I've got I've done a plot. My way there I I did a little cyber stalking at the time. Finding out where the revolution offices were. I did some linked in searches to find who I knew there and ended up finding a woman that I went to business school west there was there a couple of free coffees for her and a glass of Chardonnay, and I found myself with with an Email introduction to one of the one of the founders. And that's that's how it started. And not I have to point out. Unlike most of the big VC's revolution didn't set up shop in New York or Boston or anywhere in the bay area in Silicon Valley. They're pretty close to where the Washington Post is headquartered. It's it was three blocks. It was the easiest commute interview. I'd ever had. Yeah. I mean, you know, the the revolution story, and and what Steve has built and others have built with revolution is is is really phenomenal in in the Washington DC area. It's you know, it's been it's home AL. Grew up in the in the Dulles corridor. Has been a phenomenal explosion of just capital ingenuity in that area. And has helped spawn the grandchildren of AOL companies like vox media, which is run by Jim Bangkok was at AOL or even living social which was a huge company that was run by a former product manager at revolution health. So you're still seeing these spillover effects of that that sort of huge entrepreneurial flashpoint with now I think of that area as very heavily Laden with telecoms and other networking firms. Is there any cross pollination with revolution? Or you have a very specific set of things you focus on and telecom me not be yet. Well, I mean, given given the AL. DNA of our place. There's a lot of a lot of focus on on on social networking social media in general consumerism, like how how do we how do we make the lives of consumers better easier faster cheaper by by investing in a lot of products that sort of where the consumer is the end user. So a lot of our investments throughout time have been either beat the C directly or BBC where where the end user the business might not necessarily be generated from the consumer. But the end user was a consumer because just the AOL DNA is really pervasive about how do you make it? How do you make it easy for the average Joe to get online? That's exactly what they do on ramp to the internet. That's how he described for forever. So does that background change? What you look at. How you look at it. Or what you put company capital in? What's the impact of the AOL background? Is it is it just so obvious says, hey, we're used to doing see sort of investments business to consumer sort of investments, or is there a change in the entire process of what comes your way, and the way you consider it. Well, I guess the way that I would most likely consider think about it is we really approach things from a brand building perspective. How do you build the brand? So that it helps the consumer recognize that there's there's trust behind the brand. There's a simplicity there's a real value. Add that's coming through through the products. That were backing I would also say that, you know, we're we're also as we deploy capital and a lot of the deals that come to us or deals that are are pretty focused on consumer stuff. We we have a lot of B two B business to business investments as well. But, but you know, a lot of the deals that we see just end up being really strong, consumer.

Washington Post AOL Washington David hall Harvard Business School Barry ritholtz Bloomberg NBA Morehouse college Steve telecoms Harvard partner director of planning stalking Silicon Valley Dulles
"barry ritholtz" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:09 min | 1 year ago

"barry ritholtz" Discussed on Bloomberg Radio New York

"In business with Barry ritholtz on Bloomberg radio. My special guest today is David hall. He is a partner at the venture capital fund rise of the rest seed funds part of revolution partners of VC. He comes to us with a an economics from Morehouse college in an MBA from Harvard prior to joining revolution. He worked at the Washington Post as the director of planning and developing managing corporate and investments and helping to launch a number of new print and digital publications. David hall. Welcome to Bloomberg. Thank you, Barry. It's a pleasure to be here. So I've been speaking to a number of VC's over the past couple of years, and I'm always fascinated by their backgrounds. Your background is a little unusual. How do you get from the Washington Post to the world? Eventually let's start with what what were you doing at the Washington Post? Yeah. So I went to the Washington Post, I actually interned at the Washington Post. Company between my first and second years at Harvard Business School, and it was for me. It was a perfect place because we're do newly minted NBA. They wanna go to industries that are in crisis. And there was no greater crisis in the two thousand early two thousands than the print newspaper. Let me interrupt you newly minted NBA's wanna go to industries in crisis. I always thought I either wanted to go to high paying Wall Street jobs or high paying Silicon Valley jobs, you're suggesting other I figured I could always end up in one of those high paying coastal jobs, but but for cutting my teeth right needed to manage a business through disruption, and that to me was going to be such an interesting how how could I be the savior of the great grey lady of of Washington at least managing a business through disruption. Sounds a lot like what VC's look for in startups. I was reflecting on the train up here from from Washington. How much of what I been working on? It's been kind of cumulative. It's looking for these these how do you recognize disruption before it hits? And then how do you manage through the disruption, and how do you and now from a from an investor's perspective. How do you manage that process? Sort of indirectly because we're not in the company every day, but we're advising these companies about disruption that's either coming or disruption that hopefully they're creating with their products and services that they're launching quite quite interesting. So that was your first experience in the workforce. How did you tack from that or to venture it's easy to talk about? But it, but it's actually more visual. You know, I was sitting there one day at the Washington Post, and it's the only place I've ever worked where sitting at your desk reading the newspaper was called product research. And so I was reading an article about Steve case, and the firm that he'd just launched after leaving AOL Time Warner called revolution. It was going to build these big icon of businesses. Is that we're going to tackle really tough problems around health care and financial services. And it just was so exciting to me and said, I've got I've done plot. My way there I I did a little cyber stalking at the time. Finding out where the revolution offices were. I did some link dense searches to find who I knew there and ended up finding a woman that I went to business school with who was there a couple of free coffees for her and a glass of Chardonnay, and I found myself with with an Email introduction to one of the one of the founders. And that's that's how it started. And not have to point out. Unlike most of the big VC's revolution didn't set up shop in New York or Boston or anywhere in the bay area and Silicon Valley, they're pretty close to where the Washington Post is headquartered it was three blocks. It was the easiest commute interview. I've ever had. Yeah. Mean the the revolution story. And and what Steve has built and others have built with revolution is is really phenomenal in in the Washington DC area. It's it's been his home AOL grew up in the in the Dulles corridor. Has been a phenomenal explosion of capital ingenuity in that area. And has helped spawn the grandchildren of AOL now companies like vox media, which is run by Jim Bangkok was at AOL or even living social which was a huge company that was run by a former product manager at revolution health. So you're still seeing these spillover effects of that sort of huge entrepreneurial flashpoint with AOL. Now, I think of that area as very heavily Laden with telecoms and other networking firms. Is there any cross pollination with revolution? Or you have a very specific set of things you focus on and telecom me, not it. Well, I mean, given given sort of the. Will. DNA of our place. There's a lot of a lot of focus on on on social networking social media in general consumerism, like how how do we how do we make the lives of consumers better easier faster cheaper by by investing in a lot of products that that sort of where the consumer is the end user. So a lot of our investments throughout time have been either beat the C directly or be to beat you see where the end user the business might not necessarily be generated from the consumer. But the end user was a consumer because just the AOL DNA is really pervasive about how do you make? How do you make it easy for the average Joe to get online? That's exactly what they do on ramp to the internet. That's how we described Deo L for forever. So does that background change? What you look at. How you look at it. Or what you put company capital in? What's the impact of the AOL background? Is it is it just so obvious says, hey, we're used to doing be sort of investments business to consumer sort of investments, or is there a change in the entire process of what comes your way, and the way you consider it. Well, I guess the way that I most likely consider think about it is we really approach things from a brand building perspective. How do you build the brand? So that it helps the consumer recognize that there's there's trust behind the brand. There's a simplicity there's a real value. Add that's coming through through the products that we're backing I would also say that, you know, we're we're also as we deploy capital and a lot of the deals that come to us or deals that are are pretty focus. On consumer stuff. We we have a lot of B two B business to business investments as well. But, but you know, a lot of the deals that we see just ended up being really strong. Consumer brands coming up. We continue our conversation with David all partner at revolution ventures discussing the rise of the rest seat fund. You're listening to masters in business with Barry ritholtz on Bloomberg radio. Imagine. Tech T shirt and everything. Really? Much more FedEx delivery,.

Washington Post AOL Barry ritholtz Bloomberg Washington David hall partner Harvard Business School NBA Steve Morehouse college Harvard director of planning telecoms stalking David New York
"barry ritholtz" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:40 min | 1 year ago

"barry ritholtz" Discussed on Bloomberg Radio New York

"In business with Barry ritholtz on Bloomberg radio. My special guest today is David hall. He is a partner at the venture capital fund brise of the rest seed funds part of revolution partners of he comes to us with a B A in economics from Morehouse college in an MBA from Harvard prior to joining revolution. He worked at the Washington Post as the director of planning and developing managing corporate Emini and investments and helping to launch a number of new print and digital publications. David hall. Welcome to Bloomberg. Thank you berry. It's a pleasure to be here. So I've been speaking to a number of over the past couple of years, and I'm always fascinated by their backgrounds. Your background is a little unusual. How do you get from the Washington Post to the world? Eventually let's start with what what were you doing at the Washington Post? Yeah. So I went to the Washington Post, I actually interned at the Washington Post. Company between my first and second years at Harvard Business School, and it was for me. It was a perfectly place because we're do newly minted NBA. They wanna go to industries that are in crisis. And there was no greater crisis in the two thousand early two thousands than the print newspaper. Let me interrupt you newly minted NBA's wanna go to industries in crisis. I always thought the either wanted to go to high paying Wall Street jobs or high paying Silicon Valley jobs, you're suggesting other I figured I could always end up in one of those high paying coastal jobs, but but for cutting my teeth right needed to manage a business through disruption, and that to me was going to be such an interesting how how could I be the savior of the great grey lady of of Washington at least managing a business through disruption. Sounds a lot like what VC's look for in startups. It's. I was reflecting on the train up here from Washington. How much of what I've been working on? It's been kind of cumulative. It's it's looking for these these how do you recognize disruption before it hits? And then how do you manage through the disruption, and how do you and now from a from an investor's perspective. How do you manage that process? Sort of indirectly because we're not in the company every day, but we're advising these companies about disruption that's either coming or disruption that hopefully they're creating with their products and services that they're launching quite quite interesting. So that was your first experience in the workforce. How did you tack from that or to venture it's easy to talk about? But it's actually more visual. You know, I was sitting there one day at the Washington Post, and it's the only place I've ever worked where sitting at your desk Greenland newspaper was called product research. And so. I was reading an article about Steve case, and the firm that he'd just launched after leaving AOL Time Warner called revolution. It was going to build these big iconic businesses that we're going to tackle really tough problems around health care and financial services. And it just was so exciting to me and said, I've got I've done a plot. My way there I I did a little cyber stalking at the time. Finding out where the revolution offices were. I did some linked in searches to find who I knew there and ended up finding a woman that I went to business school where there was there. A couple of free coffees for her and a glass of Chardonnay, and I found myself with with an Email introduction to one of the one of the founders. And that's that's how it started. And not I have to point out. Unlike most of the big VC's revolution didn't set up shop in New York or Boston or anywhere in the bay area and Silicon Valley, they're pretty close to where the Washington Post is headquartered it's it was three blocks. It was the easiest commute interview. I'd ever had. Yeah. I mean, the the revolution. Story. And and what Steve has built an others have built with revolution is is really phenomenal in the Washington DC area. It's it's been it's home AOL grew up in the in the Dulles corridor. Has been a phenomenal explosion of just capital ingenuity in that area. And has helped spawn the grandchildren of AOL companies like vox media, which is run by Jim Bangkok was at AOL or even living social which was a huge company that was run by a former product manager at revolution health. So you're still seeing these spillover effects of that that sort of huge entrepreneurial flashpoint with AOL. Now, I think of that area as very heavily Laden with telecoms and other networking firms is Ernie cross pollination with revolution. Or you have a very specific set of things you focus on and telecom. You not be it. Well, I mean, given given sort of the. Oh, L DNA of our place. There's a lot of a lot of focus on on on social networking social media in general consumerism. How do we how do we make the lives of consumers better easier faster cheaper by investing in a lot of products that sort of where the consumer is the end user? So a lot of our investments throughout time have been either beat the see directly or to see where the end user the business might not necessarily be generated from the consumer. But the end user was a consumer because just the AOL DNA is really pervasive about how do you make? How do you make it easy for the average Joe to get online? That's exactly what the on ramp to the internet. That's how he described Deo L for forever. So does that background change? What you look at. How you look at it. Or what you put company capital in? What's the impact of the AOL background? Is it is it just so obvious says, hey, we're used to doing be sort of investments business to consumer sort of investments, or is there a change in the entire process of what comes your way, and the way you consider it. Well, I guess the way that I most likely consider think about it is we really approach things from a brand building perspective. How do you build the brand? So that it helps the consumer recognize that there's there's trust behind the brand. There's a simplicity there's a real value. Add that's coming through through the products. That were backing I would also say that, you know, we're we're also as we deploy capital and a lot of the deals that come to us deals that are are a pretty focused on consumer stuff. We we have a lot of B two B business to business investments as well. But but a lot of the deals that we see just being really strong consumer.

Washington Post AOL Washington David hall Harvard Business School Barry ritholtz Bloomberg NBA Steve Harvard Morehouse college partner director of planning telecoms stalking Greenland New York
"barry ritholtz" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:23 min | 1 year ago

"barry ritholtz" Discussed on Bloomberg Radio New York

"Oh, and now here's Barry ritholtz. Let's start with the reboot of Bridgewater, which you describe in great detail in the first book, which came about after a not so great nine thousand nine hundred eighty two for you. In fact, you describe it as disastrous what happened in one thousand nine hundred two. Well, you know, I formed Bridgewater and seventy five eighty two's like seven years later. That's the reboot. That's the reboot right? And I had in one thousand nine hundred eighty seventy nine eighty I'd calculated that of that American bags went way more money to emerging countries. In those countries are going to pay back, and it was about two hundred and fifty percent of their Bank capital. And so we were going to have a big Bank banking crisis. And I thought that was going to happen. And I got a lot of attention for for that. And then in August, eighty to Mexico defaulted, and there was a sequence of other defaults. And there was a big debt crisis. And I thought that that was going to cause an economic crisis, and I couldn't have been more wrong that was the exact bottom of the stock market when Mexico defaulted, and anyway, I received tension at the time I was on Wall Street week, and I was on asked to testify to congress, and and I was wrong. And I had I think at the time maybe eight people who work for me. I had to let them all go, and I lost money from me. I lost money for clients. I had to. Borrow four thousand dollars from my dad because I didn't have really enough money even to take care of my family at that point. I was very painful, but it was the most valuable thing probably that happened in my life, certainly one of those because it changed my approach to thinking because it made me start to think, you know, how do I know? I'm right. How do I continue to take risks and not go through these mistakes? And it made me change a lot. Like, I wanted to find the smartest people I could would disagree with me. I wanted to build an idea meritocracy in which independent thinkers would challenge each other. And I wanted to deal with risk. How do I maintain the returns, but diversify and do certain things with risk? And it was from that point really on that everything started to change. So that was my terrible experience. And I think that that's by the way, one of those lessons like there was a book that my son gave me in two thousand fourteen jobs. Campbell here over sows and faces and he describes about how that crashing occurs. And that changes do you have a metamorphosis, so the whole approach to learning from mistakes and painful mistakes making the most out of them and writing principles down. In other words, recipes for having you deal with the circumstances. Learn the lesson right? Those principles now, this is the thing that I would recommend to, you know, everybody write them down. And I learned also that by being able to write them down clearly enough that they could be expressed in. What were then called equations are now algorithms that allowed me to make decisions and Austin make decisions in a very powerful way. So that experience was really the turning point you describe in your early history. Some of the products that you had a role in the creation of tips. The inflation protected treasury bonds, the US dollar futures index the entire concept. Of risk parody your very humble and saying you had only a little bit to do with the Chinese stock market creation. But I know you consulted with their senior people there and help that come about. And what I think is the least known thing about you. But the most fascinating you helped to engineer chicken mcnuggets. Explain that to us. Absolutely intriguing. Well, I traded commodities then back then I mean that was my big thing. And I really learned you know, how to make chicken and how much feed what what a chick cost how soybeans were grown how they competed with cotton and corn and that whole mechanics. I liked that all mechanical thing. And at the time that McDonald's was a client of mine at the time, and they wanna do come out with this chicken mcnuggets. But it was very volatile. Prices were volatile at the time, and they were worried about whether they can get stable menu prices or that would have the volatility not being disrupted, and I had a chicken processing producer was. I think the largest at the time and a client, and I could engineer the ability to lock in the fiend prices. Because basically the cost of a check is not. Not much relative to the cost of the feed, and you have futures contracts on that. And I was able to work a deal. So that that chicken producer could get them. Mcdonald's contract and McDonald's could get a stable price by engineering how they could do the hedge to be able to do that. So that was what I did. The word engineering comes up a lot for a person who's not an engineer. And I I was very much reminded of that in one of the first long form videos. You did how the economic machine works. So first, let's the engineering background for the overall economy. And what motivated you to put that together in a video and release it to the world? Well, the one thing that I learned over the years is like everything has its every effect everything that happened has a reason that happened cause-effect relationships and these things happen over and over again. So whenever I got surprised by something. It was usually because of something that didn't happen in my lifetime before but it happened. Like, these financial crisis is and so on and when I did is I went back, and I saw I started to see that. If you start to see everything is happening over and over again, and then you studied the cause-effect mechanics behind that at a nitty gritty level. You'll learn how reality works. That's Ray Dali oh of Bridgewater associates.

engineer McDonald Bridgewater producer Barry ritholtz Mexico US Ray Dali Campbell congress Austin four thousand dollars fifty percent seven years
"barry ritholtz" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:09 min | 1 year ago

"barry ritholtz" Discussed on Bloomberg Radio New York

"Now. I'm Christopher cruise. And I'm Mark mills. In the Bloomberg radio newsroom. Stocks are back in the red for the year after another wave of selling hit Wall Street Friday, the S and P five hundred is now down half a percent for two thousand eighteen the latest plunge game at the end of a turbulent week of trading that had one huge gain Thursday sandwiched between massive losses in twenty trading days this month, only five have been positive a three weeks slide has left the benchmark S and P five hundred index on track for its worst month since February two thousand nine Allen Zafran senior managing director at first Republican vestment management sights higher interest rates has one reason stocks have declined you start looking at bond is being on the marginal stocks or when you're discounting the future cash flows of higher discount rate inherently their horns last score. If interest rates are going on on the margin my profit margin. My business will drop a bit because my borrowing costs go up the median length of time Americans have owned their homes rose to a record of more than eight years in. In the third quarter. According to Adam data solutions that's up from four and a half years when the recession ended in June two thousand nine one reason for staying put a buyer might have to pay a higher rate for a mortgage than their current home loan MGM resorts international wants to negotiate a possible settlement with the victims of the Tober first 2017 shooting at the harvest festival in Las Vegas in which fifty eight people were killed and hundreds were wounded the company, and a group of lawyers representing the victims said in a court filing that they are scheduling a mediation. And they asked the judge to put the lawsuit on hold budget deficit plagued. Italy avoided a second rating downgrade in a weak as SNP global ratings decided only to lower its outlook on the nation's credit worthiness. Italy has a triple bond rating to levels above junk. Now faces a negative outlook Cording to SNP global news twenty four hours a day on air at tick tock on Twitter, powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries. I'm Mark mills. This is Bloomberg. I'm Barry ritholtz. You're listening.

Bloomberg Mark mills Italy Barry ritholtz Christopher cruise SNP senior managing director Allen Zafran MGM resorts Twitter Las Vegas Adam Tober twenty four hours eight years three weeks
Texas jury finds Toyota negligent in accident, awards $242 million to family

Masters in Business

00:29 sec | 2 years ago

Texas jury finds Toyota negligent in accident, awards $242 million to family

"Case I'm Evan Haning And I'm Susanna Palmer from. Bloomberg world headquarters Elon Musk's interview with the New York Times yesterday has heightened concerns surrounding the health of Tesla's chairman and CEO shares in the electric car maker plunged eight point nine percent yesterday the largest drop in nearly two. Years for tesla the references musk made to using sleeping pill. Ambien and driving well tweeting are fueling calls

Tesla Susanna Palmer Bloomberg Elon Musk Chairman And Ceo Toyota President Donald Trump Toyota Motor Sales Evan Haning Dallas Barry Ritholtz New York Times Genoa Bridge Barack Obama CEO Benetton Lexus President Trump
Texas jury finds Toyota negligent in accident, awards $242 million to family

Masters in Business

00:27 sec | 2 years ago

Texas jury finds Toyota negligent in accident, awards $242 million to family

"And I'm Susanna Palmer from Bloomberg. World headquarters German magazine Spiegel reports. Dime lawyer. AG might be forced to recall as many as seven hundred thousand diesel-powered, cars throughout Europe in which emissions cheating devices have been detected Spiegel cited a reported obtained from the German federal motor, transport agency the report lists twenty four models including the small Mercedes-Benz c class the high end s class some

Bloomberg Walmart Susanna Palmer Toyota Greg Jarrett Bloomberg Toyota Motor Sales Dallas Greg Jarrett Barry Ritholtz Spiegel Morgan Chason Lexus Europe Mercedes-Benz Twitter Jp Morgan Texas India ATM
Amazon to take on cable with 'Frank' device that can record live TV

Masters in Business

00:43 sec | 2 years ago

Amazon to take on cable with 'Frank' device that can record live TV

"Is said to be developing a new device to. Record live TV similar to tvos we are told the, device dubbed Frank is a new type of digital video recorder for the streaming era. Bloomberg's Mark Gherman says it fits with Amazon strategy and they wanna basically own. Everything in the TV space right now obviously there's original content that you can stream on demand. At any time but there's also live programming whether that's through Amazon channels their new service where you can stream live Showtime HBO and Starz. Conglomerate of TV networks but also tap into live TV on. Their physical TV's they partner with insignia and to Sheba Amazon. Shares were down two tenths of one percent tvos stock was, off more than four

Bloomberg United States Amazon New York Sheba Amazon Barry Ritholtz New York Times Elon Musk Wall Street Journal DOW Twitter Partner Tesla Mark Gherman HBO Mexico Frank
"barry ritholtz" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:43 min | 2 years ago

"barry ritholtz" Discussed on Bloomberg Radio New York

"Masters in business. With Barry ritholtz. On Bloomberg radio My special guest this week is league Cooperman he is returned guests and we decided to bring him on because of, some changes that he's made to. His hedge funds omega which was launched in nineteen Ninety-one an an. Has substantially beat the market by a fairly wide margin since then Lee went to a hundred college undergrad got his MBA from Columbia business. School where he went with a number of, esteems colleagues he joined Goldman Sachs in nineteen sixty seven where he spent twenty two years in investment research where he was frequently voted onto. The institutional investors all America research team for portfolio strategy he helped create and launch the Goldman Sachs, asset management unit where he was eventually chief investment officer chairman and CEO prior to. Launching omega hedge fund in one thousand nine hundred ninety one Lee Cooper German. Welcome back Bloomberg thanks for having me very, so you recently set out a notice that you were converting omega to a family office and I thought that was as Gooden excuses any. To get you back into chat about markets and the economy but first let's talk about that conversion, what was the thinking behind it what what motivated that two factors I turned seventy five in April I recall reading somewhere. That cystic say the if you make it past, sixty five in cancer doesn't get you on average to eighty five and I. Did not want to. Spend the next ten, years the remaining ten years, from average, running after the. SNP and would solidify that was I went to. A concert with Kenny Rogers. The country western singer who I would like is talent. And I. Found, that interesting he was having. Great difficulty negotiating stage getting around and he made the comment that he's turning eighty shouldn't, be doing this anymore be his fifth marriage he needs the money and I said to myself you know I've. Been lucky, I've been married fifty four. Years to win women I don't? Need? The money my money's going? Back to society through charitable giving And I wanted to, fold at the top so, you know, what's the difference. Between you and Kenny Rogers you know into hold. Him and went to fold. Them apparently Kenny does not I hope so basically Over the years I've. Noticed. Particularly in two thousand eight that a lot of hedge funds close, up when you're down and just a personal view. And moralizing but I think. A high water Mark is, an asset of the investor yes if you basically close up and give them their money back involuntarily there was one thing that investors look. Had enough I want my money back they get their money back but to. Give them money back when they don't want it and they're willing to bet on you turning the ship around is not right so I. Was up in sixteen seventeen them up about seven percent this year so. Everyone with me, at this moment in time is at a, record high, and their Catholic count and now's the time. To, fold them I. Do believe looking. Out I'm not a pessimist but I think it's stands to reason that twenty nine thousand nine hundred twenty wherever markets setback I tend. To be more long Lorient And I, want, to be seventy seven years. Old owning somebody a high water. Mark and feeling obligated to, stay in business. What did Klein say. When you notified them hey were. Here's some capital back thanks for, sticking around, for some it's almost thirty years. Two twenty six years I've been very gratified I'm not shocked to be honest I don't wanna sound self, serving. But yeah I've lived a very straight. Life I've run the, business in the eyes of, the investor. And the emails. I've gotten just off the charts favorable I could read some of the two you take. Your time but it's it's a very very gratified hold onto those we're gonna come back to. Some of those emails a little later internally within the firm what was, the decision, making process like you have employees, were, most painful part, of the decision, the most painful far, and away is I have to re size staff you know have between thirty five forty loyal. Hardworking very competent people whether it be Analytical support and in the family offers, a probably, have twelve to fifteen to, help, place, or take care, of of Thurs That's, the most painful part of, it you I've spent twenty six. Years building the right team, the right. Infrastructure right computers programs everything to run the business and I. Love what I do to be honest with, you I do I love speaking? To thirty five students at Columbia, business school I tell them, the secrets to success is do you love what you do don't go into. Feel for money go into feel passionate about and I have a passion about investing which are going to continue. To do I just did not want to have the responsibility of running other people's, money at, this stage of my life so I've called you the hardest working man and hedge funds quoting a mutual friend All right Brown of hedge funds is what I was going to go with Doug. Called you when you finish, this transition are you still going to be starting at ungodly early hours and reading radio sports till midnight or Donald that, right now my alarm clock goes over five fifty in the morning and it's been Narran ten minutes coming from the suburbs to. New York and now in, ten minutes Quaco midnight and I expected I sleep a little, bit later but I'll visit more companies of. Be intense I will be oriented towards long term capital gains the s. and p. five hundred will be a relevancy to me now it's not my investors pay me a fancy fee and they deserve to get the. Best performance I can, give him but I'm gonna be managing the money for Africa tax returns after. Tax returns so that's that's a. Substantial change what other changes are you? Looking at you don't strike me as. A golfer No not a? Golfer but, I have a particular problem now as we sit here, talking I ride a bicycle Florida every day and some octogenarian was not. Careful on his golf cart, he hit me was riding my bike and fell on my, shoulder and have a four and a half. Centimeter rotator cuff tear which is you know reasonably painful ended my golf days unless I go for surgery for repair. And the surgery and told us very complex and terrible year of physical therapy as you you got. It coming up we, continue our conversation with Lee Cooperman of formerly of the hedge.

Kenny Rogers Goldman Sachs Bloomberg Barry ritholtz rotator cuff tear Lee chairman and CEO Lee Cooperman Lee Cooper German America golf chief investment officer Columbia Florida Gooden Mark
"barry ritholtz" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

06:25 min | 2 years ago

"barry ritholtz" Discussed on Bloomberg Radio New York

"Is Bloomberg These masters in business. With Barry ritholtz. On Bloomberg radio My special guest today is Torsten, slot he is the chief economist at Deutsche Bank securities where. He has been toiling away since two thousand and five the Deutsche Bank team led by Mr. slack has been top ranked by institutional investor for both fixed, income and equities for the past five years running previously he worked. At the organization of economic cooperation and development in Paris and before that he was at the IMF he is a member of the economic club of New York. Educated at. Both the university. Of, Copenhagen and Princeton University Torsten. Slog welcome to Bloomberg well thanks for. Having me berry so your background is really quite, fascinating you worked at the IMF worked at the. CD what was it. Like transitioning to. Wall Street or that's a very important very good question And it was a, bit of a culture shock coming from the IMF and the. Where you have a lot of time to sit and think in a closed door office about very complicated problems and you need to write papers for committees, needs to ride reports for managers and for board meetings and that. Process of really having a lot of time and a lot of resources available to investigate something was a real luxury view today in the sense that you had. In some. Cases several months. To, come up with an answer. To why did you have a crisis. Why did home prices go down in one country, why did the health care system not waking one. Country so the short. Answer is that If. You really have time and energy and a lot of very smart colleagues that you can debate things with and getting to Wall Street of course was quite a turnaround where you suddenly have clients asking twenty four seven questions that you have to answer in a few sentences so in that sense it was it was quite a different but in my view and. In my personal opinion I find any credit stimulating that you had to use what you learn and what you were taught at DNA I miss to come up with answers to incredibly difficult questions with a very few number of sentences very very so what I'm hearing from you is a, very different sense of urgency and a emphasis on brevity so a very busy fund? Manager trader fill in the blank can digest the? Response quickly and then either add subtract or whatever change. Your portfolio based on your exactly Because the whole problem is that this is really important when you think about how the financial service industries organized that the, sell side is really offering services and, what I, do and we do in my, group is that we offer the service of having a view on what the economy will do what markets will do and we also have a great, colleagues I had in Deutsche Bank who all of us on rates, ethics equities and the bottom line of that is that there's. Just a lot of, competition for ESPN for customers so get, three hundred emails every day so if you in, some cases right long winded explanations that say this fifty fifty chance that something might happen many customers would just. Not find that particularly helpful so in some cases we have to shop in the pencil and come. Up, with. Answers that I particularly helpful for saying what is it exactly that you're asking about an all boys. Down at the end of the tract here is the answer are we buying selling which sometimes can be a frustrating process but. Nevertheless so it's out to be very For getting your message across to clients in terms of helping them get your research in my, office and I notice. To specific things just about every day. You put out a specific chart often not just here's the s. and. P. five hundred but typically it's a somewhat unusual aspect of the economy that also sheds a lot, of light on what's going on and. I'm always fascinated how you find these really eclectic oh gee I, hadn't thought about that sort of thing but. They're very interesting and they make you stop and. Think hey what is what is really going on at the thirty thousand foot view level as opposed to kind of getting, lost in the weeds and getting to specific and lacking the ability to show the context but you also do the big context pieces the big, monthly and quarterly chart books tell us, how you, developed that approach yeah no that's A very important issue I mean to in my view to be successful you need. To you need to get people's attention nut by saying, I think there's, five, hundred will go to some, extreme level either high or low but rather to add some value to the thought process and how do you add value to the thought process if I just send you a child saying all of the unemployment rate is going down it's four point one you would say. Okay thank you very much I already know that so why should I open this Email if, I already, know that inflation is two point one. In unemployment is four point one so why should I care so in some of the goal and I'm very pleased. To hear what you're saying some of the goal of. What, I'm, doing is that it's supposed to be crazy, it's supposed to be a little bit wild and unusual because, there's, a lot of things going on that actually have very relevant if I only sent you your child's with inflation unemployment you would say okay I already know those things but there's so many other things. Going on that is incredibly difficult to quantify, and credit difficult to assess the nevertheless. Actually play a role for the markets. Are. Going, up Down so yes we try to have a mix of. Both having things that sort of punchy, and informative and sort of? Factories if you will and tell, you in a few sentences this went up and. You can then say well why did this go up and you could say this. Is all renew that all you could say I didn't know that but that whole process of getting you stimulated and getting some. Value to how you think about your investment process in, your firm turns, out, to be quite important in, terms of of the goal of what we're doing coming up we continue our conversation with Torsten Slovak of.

IMF Bloomberg Deutsche Bank Barry ritholtz Torsten Paris Torsten Slovak Mr. slack chief economist New York Princeton University Copenhagen ESPN thirty thousand foot five years
Mets, Bloomberg and Editor discussed on Masters in Business

Masters in Business

06:00 min | 2 years ago

Mets, Bloomberg and Editor discussed on Masters in Business

"That's forty four billion dollar bid to acquire rival XP and what, would have been, the largest ever deal in the chip industry the aborted, takeover maybe the highest profile victim yet. The trade spat between China and the United States with every other relevant jurisdiction in, the world clearing the big months ago while trying to deny its decision had anything to do with trade tensions Qualcomm CEO Steve Mollenkopf seem to disagree Brought to move forward without annex p what the difficult one continued uncertainty overhanging such a large acquisition introduces heightened risk we weighed that risk against the likelihood of a change. In the, current geopolitical environment which we Now this, Bloomberg. Sports update just three days before baseball, trading deadline and the Mets were busy on. Friday before their game against Pittsburgh the Mets traded second base spent a struggle, Cabrera to Philadelphia for double a pitching prospect Franklin the beds also signed journeyman outfielder Austin Jackson and, designated Matt den Dekker for assignment and then there was a, game to play the Mets lost to the pirates five to four snapping, their winning streak at three David freeze drove in all five runs for Pittsburgh including game winning single in the bottom of. The ninth freeze win three for three. With two walks including a Homer off of Mets starter. Jason Vargas in the second inning, Vargas making his first start since June nineteenth allowed three, runs and four. Plus innings ten Peterson took the loss and relief Michael Conforto homered with two one in the first inning his fourteen th of the season the Yankees and Kansas City Royals were postponed by. Rain a Yankee Stadium the game will be made up as part of the day-night, doubleheader later Today I game at one zero five second game at seven oh. Five Luis Severino and see, savannah scheduled to pitch both ends of the double header the, Red. Sox beat the twins four three intending, tendons down five games ahead of the Yankees. In the American League east elsewhere in the American League Cleveland over Detroit eight, three was Toronto ten the White Sox five Texas over Houston eleven to two and Baltimore rounded Tampa, Bay fifteen to five National League max Scherzer eleven strikeouts Washington, over Miami nine to one Cincinnati Thompson sixty four the dodgers over the, Braves four to one and Saint Louis down the cubs five two two well the jets open training camp on Friday without. Rookie cornerback Sam darnold in the fold. The two sides remain at an impasse over guaranteed pay. And case darnold is cut by, the team and great news from giants camp has general, manager Dave Gettleman. Announced that his cancer is now in complete remission will the Bloomberg sports Update I'm Tom Rogers I'm Barry ritholtz you're listening to masters in. Business on Bloomberg radio my extra special guests this week. Is rob are not he is the founder and chairman of research affiliates which manages assets using their strategies of over. Two hundred billion dollars the firm is, located. In Newport Beach California let's. Talk about a study you did way back when looking at the s. and, p. five hundred index which theoretically is a passive and we'll put a footnote on exactly what passive means you found from nineteen eighty. Nine to twenty seventeen the last year there was a full year of. Data available stocks editor the index underperform those that were kicked out by an average of twenty three percentage points over. The ensuing twelve months that's not a. Bad, gap in return. Oh my goodness It's amazing so so what are the implications of this and what does this mean about the stock picking acumen of the editors on the committee of. The SNP index who select the stocks that go into it I. Don't fault the index committee for the way they make. Choices they're under their clients are the people who licensed the index right and the people who licensed the index want. The index to include all the names, that. Are hot beloved and our. Embarrassing not to have in the index if there's a stock that has been, brutalized unloved dirt cheap and nobody wants said it's embarrassing to have it in the index of course they're gonna take those out now. What happens is two things firstly they announced a change and they announced. The date the change will take effect that gives the index funds a grace period in which to trade where they're. Going to move those stock prices and. Those, stocks will Still be in the index so they won't create a performance drag their everybody please front runner trades well there's a. Hedge fund community that does exactly that so, the, trades are, made the positions built, and then given over to the index funds. On the, effective date. Preferably atr near. The close the stocks added when. You, compare them with the discretionary deletions deletions that aren't. Related to corporate actions outperformed by nearly nine percent during that grace period so in index funds say we don't move stock prices with our trading that's that's rubbish They let other. People move it on their behalf and they could say oh look we haven't moved this well there's that and then there's also the simple fact that the ads beat the discretionary deletions by nine percent during a period of days well that's a big move so you. Also have. A part of that twenty three percent return, difference, in the. Subsequent year is simply mean reversion taking the price impact of the index funds. Back out and. Part of it is. Quite, simply the stocks editor extravagantly expensive on average and..

Mets Bloomberg Editor SOX Pittsburgh Jason Vargas Yankees Founder And Chairman Qualcomm Yankee Stadium Matt Den Dekker Luis Severino Austin Jackson American League Sam Darnold Steve Mollenkopf SNP Cabrera
Treasury's Mnuchin says Trump backs Fed independence

Masters in Business

02:11 min | 2 years ago

Treasury's Mnuchin says Trump backs Fed independence

"And I'm, Mark mills in the Bloomberg radio newsroom life point healthshare's jumped after Reuters reported that Apollo global management is in. Advanced talks to acquire the hospital. Chain we, get that story from Bloomberg's Charlie Pellett Mark life point is primarily operator of rural hospitals. Across the US in an investor presentation the. Company said that fifty five of it seventy-one hospitals are. The sole hospital in their service area hospitals, who face, challenges from stagnant patient volumes higher deductibles and increased competition from outpatient care and the business of operating the facilities. Outside urban. Areas can. Be particularly challenging, Charlie Pellett Bloomberg radio UBS was reprimanded by a US. Regulator for deficiencies in its anti money laundering controls at branches in New York Connecticut and Florida the treasury's office of the controller. Of the currency stopped short of finding Switzerland's largest, Bank the regulator gave UBS sixty days to submit an action plan to improve controls a Bank spokeswoman said in. An E mail we are confident that we, will fully comply with the orders requirements in a series of comments over the past two. Days that shook financial markets President Trump attacked. The Federal Reserve for raising interest rates and for undercutting. His efforts to slash the US trade deficit, on Bloomberg, television Robert tip chief investment strategist to PG IM was asked what the impact the president's remarks about rates might have on. The fed Now now I mean I think that is strong institution and they have staying power Big impact on them today at the g, twenty summit in Buenos Aires Treasury Secretary Steven Mnuchin told reporters that President Donald Trump fully supports the independence. Of the, Federal Reserve and is not trying to interfere in the foreign exchange market global news twenty four hours a day on air and tick tock on Twitter powered by. More than twenty. Seven hundred journalists and. Analysts. In more, than one hundred twenty countries I'm Mark mills this is Bloomberg This is masters in business. With Barry ritholtz. On Bloomberg radio My extra special guests this.

Bloomberg United States President Donald Trump Mark Mills UBS Federal Reserve President Trump Barry Ritholtz Apollo Global Management Reuters Treasury Buenos Aires Healthshare Switzerland Florida Twitter
"barry ritholtz" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:57 min | 2 years ago

"barry ritholtz" Discussed on Bloomberg Radio New York

"Barry ritholtz on bloomberg radio my guest today is paul vena for the past twenty years he has been a journalist covering markets and the economy for such august outfits as dow jones and the wall street journal he is the co author with michael casey of two fascinating books on blockchain and bitcoin his first book was the age of crypto currency how bitcoin is challenging the global economy and his latest book the truth machine blockchain and the future of everything was just released to excellent reviews paul vigna welcome to bloomberg day results how are you very very well let's jump right in to the bitcoin conversation you know more about this than just about anybody i know that's totally untrue i know i know some about it well you don't know the people i know and apparently everybody else knows less than you so it's a flawed data sal which circles you're that's right but let me ask you this question what was the initial idea behind the entire concept of bitcoin initially dea the so this comes out in october two thousand and eight some guy named toshi nakimora nobody knows who he is right is that a real name is that nobody knows what his real name is who he is if it's a team of people the whole mystery so this white paper comes out to toshiaki emoto bitcoin a i forget the exact title but basically the point is what he is creating is a digital version of cash so in other words you're shopkeeper and i come in for a cup of coffee or whatever i need you a five dollar bill that is the transaction what nakimora was trying to do was replicate that transaction digitally on the internet meaning no paper no credit card no no paper no credit card and also an immediate transaction between just you and i that nobody else sees in other words hardy no government no banks no credit card nobody just buyer and seller buyer and seller peertopeer electron ick money that was the original idea sounds like a good idea sounds like sounds like a simple idea right and remember this is two thousand and eight was right in the middle of the financial crisis where confidence in banks and governments are at record lows so all right so he comes up publishes this white paper how do you get from the white paper published just released it online originally it was to this thing think it was on an email list sir one of those lists yeah so so how do you get from a white paper to an actual blockchain technology and a point that starts to appreciate in value almost immediately with the white paper was describing was.

Barry ritholtz paul vena dow jones wall street journal michael casey nakimora bloomberg paul vigna toshi nakimora twenty years five dollar
First marijuana-derived drug is on the verge of approval

Masters in Business

03:06 min | 2 years ago

First marijuana-derived drug is on the verge of approval

"Etf's president trump is calling again for strong immigration laws are people are actually doing a very good job handling got very difficult situation but this is a problem that should have been self years ago while the president's spoke in nevada democrats i california congresswoman jackie speier were visiting shelters that are housing immigrant children they were sleeping on concrete with mylar foil and that is a situation in which they were required to be in for two days speier says she doubts any families are being reunited in iowa a railroad official says more than a dozen drilled oil tanker cars have dumped some two hundred thirty thousand gallons of crude oil into floodwaters and some of that has made its way to nearby rivers and in saudi arabia where it's already sunday saudi women have hit the roads for the first time following the kingdom's lifting of ban on women behind the wheel i'm jan johnson and i'm susanna palmer from bloomberg world headquarters the washington post reports that drug to help patients have fewer seizures is on the verge of becoming the first drug approved by the fda to be derived from marijuana in april and advisory committee unanimously recommended approval of the drug for two of the most severe types of childhood epilepsy and the agency is expected to render its decision on wednesday the medication is an oral solution containing highly purified cannabis oil or cbd which is one of the scores of chemicals in the cannabis plant it does not induce euphoria the european union says it will continue a tit for tat esscalation in its trade dispute with the us the eu commissioner in charge of jobs and growth told the french newspaper le monde in a story posted today that if president trump applies new tariffs to european cars as he threatened this week the block would have no choice but to react earlier this week the eu imposed tariffs on three point three billion dollars worth of american products in response to tariffs on its metal exports turkey is lapping additional taxes on everything from imports of cars to whiskey and rice from the us in retaliation for new us tariffs on steel that according to an official documents seen by bloomberg cars manufactured in the us will be brought into turkey with an additional sixty percent duty well alcoholic beverages such as jack daniels whiskey will face tariffs of seventy percent saudi arabia promised to act to keep oil prices under control energy minister khalid al follow signal to reporters today in vienna that are real supply boost approaching one million barrels a day is on the way to global markets the comments from alpha come after a lastminute compromise overcame iranian opposition west texas intermediate was last quoted at sixty eight fifty eight a barrel global news twenty four hours a day on air and it ticked up on twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries i'm susanna palmer this is bloomberg i'm barry ritholtz you're listening.

ETF Donald Trump President Trump Two Hundred Thirty Thousand Ga Three Billion Dollars One Million Barrels Twenty Four Hours Seventy Percent Sixty Percent Two Days
Stocks, EUR rally on data; oil higher ahead of OPEC meet

Masters in Business

03:17 min | 2 years ago

Stocks, EUR rally on data; oil higher ahead of OPEC meet

"Westwood one podcast network a question on a street our long new york state geometry quiz has been resolved correspondent pat piper has both correct answers question thirty one in new york regions geometry exam given last tuesday ask students to determine the volume to the nearest cubic inch of an inflated basketball with a circumference of twenty nine point five inches now in case he didn't figure it out already the state said four hundred thirty four was the correct answer but on wednesday announced it could also be four hundred thirty three in a prepared statement the state said the possibility exists that few highly proficient students may approach the question differently than envisioned by the new york state educators and department staff i'm pat piper the cleveland cavaliers are in talks with their star lebron james whose contract option as a free agent has to be decided by next friday will cleveland be crushed again i'm christopher cruise i'm susanna palmer from bloomberg world headquarters president donald trump threatened to twenty percent tariff on cars imported from the european union that's unless the block removes import duties and other barriers to us goods a european commission memo obtained by bloomberg shows the eu is planning to retaliate documents seen by bloomberg shows turkey's government will impose additional taxes on imports from the us including vehicles alcohol and food items this in response to president trump's decision to raise tariffs on steel sold by turkish companies opec and its allies will increase the flow of oil major producers outside the organization of petroleum exporting countries including russia mexico and kazhakstan we'll meet ministers from the cartel today for delegates said those producers will okay a plan to add about seven hundred thousand barrels a day of crude to the markets starting next month but paul sankey oil and gas analyst at mizzou ho says triple digit prices for crude are on the radar are we think you're going to one hundred hundred twenty dollar oil over the next two or three years but for now i think you know we've tempered it and it'll become less of an issue west texas intermediate was last quoted at sixty eight fifty barrel new york post reports craft heinz is interested in buying campbell soup and believes the soup makers management will start a sales process soon the post cites a source close to the situation the report says general mills is also seen as a possible buyer of campbell soup china's xiaomi corporate plans to raise up to six point one billion dollars in one of the biggest global stock market debuts this as it tries to become a worldwide brand right alongside apple google and amazon details released today show the initial public offering and hong kong would value show me which is based in beijing at as much as seventy point three billion dollars global news twenty four hours a day on air and it ticked up on twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries i'm susanna palmer this is bloomberg vc's masters in business with barry ritholtz on bloomberg radio my special guest today is dr raven giovinazzo he is.

Westwood New York One Hundred Hundred Twenty Dol Seven Hundred Thousand Barrels Sixty Eight Fifty Barrel Three Billion Dollars One Billion Dollars Twenty Four Hours Twenty Percent Five Inches Three Years
Push toward immigration votes intensifies GOP divide

Masters in Business

01:54 min | 2 years ago

Push toward immigration votes intensifies GOP divide

"Is a bloomberg press title published by wiley available wherever books and e books are sold now the news the push toward an immigration vote in the house has intensified the divide among the gop president trump plans to meet next week with house republicans to discuss the immigration proposals before them pope francis spoke out against abortion due to the possibility of a birth defect correspondent bill michaels has details speaking to a confederation of italian family group saturday pope francis at children should be accepted as they come as god sends them even if at times they're sick he called it a white gloves version of what the nazis did to pursue the pureness of race the sale of the l a times and the san diego union tribune to billionaire dr patrick soon sean is closed on monday he shelling out five hundred million dollars for the two news organizations along with the spanish language newspaper hoy and some community newspapers from chicago base trunk i'm barbara kusak i'm barry ritholtz or on our democracy on or on our political process.

Bill Michaels Pope Francis Dr Patrick Sean Barbara Kusak Barry Ritholtz Bloomberg Press GOP President Trump San Diego Chicago Five Hundred Million Dollars
Klay Thompson of Golden State Warriors questionable for Game 2 of NBA Finals with left ankle sprain

02:03 min | 2 years ago

Klay Thompson of Golden State Warriors questionable for Game 2 of NBA Finals with left ankle sprain

"And seventeen by knocking off the orioles and a rain delayed the start game at camden yards eight to five miguel and do horan giancarlo stanton both at two run homers and do har with three runs batted in masahiro tanaka won his seventh despite giving up homers to andrew jones joey record and manny machado who slugged his eighteenth on the season at city field of medicine cubs went past midnight fourteen innings in fact chicago coming away with a seven to one win album more and ben zobrist with two run doubles in that fourteenth havi or buyers with a two run homer michael conforto at a home run to tie the game in the six it was seven innings for jacob degrom he struck out thirteen the capitals at home took a two one lead in the stanley cup final with a three one victory over vegas a goal landed assists for a guinea kuznetsov alex ovechkin also scored brayden hopi with twenty one saves money in dc will be game for the warriors does the cavs again later tonight game two of the nba finals at oracle arena golden state ahead one game plan but warriors coach steve kerr knows that the cavaliers are capable of coming back and i know it's not the exact same team but we had him down three one a couple of years ago and they might have been deflated and they came back and won so we were expecting another great effort from them klay thompson expected to be okay he's got a high ankle sprain he's been dealing with from golf price into sham rochelle a six hundred sixty six saturday as a onestroke lead entering the final eighteen holes at the memorial tournament tiger woods is in contention ings at night under had the french open sunday action all the way for madison keys and sloan stevens respectively caroline wozniacki and alexander's variable also be on the court advancing on saturday serena williams and maria sharapova setting up another meeting between the longtime rivals and why cfc beat orlando three nothing the red bills lost into england two to one the liberty beat indiana overtime eighty seven eighty one with a bloomberg sports update i'm frank garrity this is masters in business with barry ritholtz on bloomberg radio.

Ben Zobrist Maria Sharapova Orlando England Frank Garrity Barry Ritholtz Camden Andrew Jones Chicago Serena Williams Michael Conforto NBA Oracle Arena Klay Thompson Caroline Wozniacki Indiana Bloomberg Orioles Alexander Sloan Stevens
Report: In memo to Mueller, Trump's lawyers argue he could not have obstructed justice

Masters in Business

00:59 min | 2 years ago

Report: In memo to Mueller, Trump's lawyers argue he could not have obstructed justice

"And quickly grew to more than two hundred and fifty acres correspondent pamela brown says the new york times reports lawyers for president trump sent a letter to the special counsel wondering why the president should have to be questioned in the russia probe the contents of this latter really spells out that the president's lawyers believe that he does not have to sit down with robert muller's team and that he did not obstruct justice because he's the president of the united states and under the constitution he is allowed to fire whoever he wants in this case the former fbi director james call me all medical procedures in baylor st luke's medical centers heart transplant program have been suspended for fourteen days to determine what went awry at the houston hospital with the deaths of at least three patients this year i'm barbara kusak i'm barry ritholtz.

Pamela Brown Donald Trump Special Counsel President Trump Robert Muller United States James Baylor St Luke Houston Hospital Barbara Kusak Barry Ritholtz New York Times Russia FBI Director Fourteen Days Fifty Acres
Hulu, President and President Recep Tayyip Erdogan discussed on Masters in Business

Masters in Business

01:08 min | 2 years ago

Hulu, President and President Recep Tayyip Erdogan discussed on Masters in Business

"Down hulu surpass twenty million subscribers has here thanks to its first original hit show the handmaid's tale charlie pellett bloomberg radio uber has been the subject of legal and physical battles with turkish cab drivers is now coming under fire from the country's president speaking at a ramadan dinner on friday and is stan bul president recep tayyip erdogan said the ride hailing company's business is over in turkey and that authorities would take necessary action against the firm the chance to dine with warren buffett cost three point three million dollars this year that was the winning bid for a lunch with the billionaire investor in a week long charity auction that concluded friday on ebay this year's price was short of the three point four six million dollar record the auction's winner asked to remain anonymous buffet has participated in the annual auction for almost two decades to benefit the san francisco based glide charity that age the homeless global news twenty four hours a day on air and a tick tock on twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries i'm mark mills this is bloomberg i'm barry ritholtz.

Hulu President Trump President Recep Tayyip Erdogan Ebay San Francisco Twitter Mark Mills Bloomberg Barry Ritholtz Charlie Pellett Stan Warren Buffett Four Six Million Dollar Three Million Dollars Twenty Four Hours Two Decades
High-tech, sphere-shaped arena coming to Las Vegas Strip

01:07 min | 2 years ago

High-tech, sphere-shaped arena coming to Las Vegas Strip

"Now the news the seventeen year old who reportedly admitted shooting up a suburban houston high school now has an attorney the attorney says dimitrios portuguese maybe the victim of teacher on student bullying school district in santa fe texas says that is not true ten were killed thirteen injured in friday's shootings lots of online wellwishers have had nice things to say to first lady melania trump who's now back at the white house after a five day hospital visit president trump was among those very happy that she returned he did tweet a great to have our incredible first lady back home at the white house milanez feeling and doing really well thank you for your prayers and best wishes correspondent ryan nobles on the first lady's treatment for a benign kidney condition he won by not by much justifies victory in the preakness sets up the first run for the triple crown of horse racing in three years that's what american ferro won the derby the preakness and the belmont stakes at final race in new york three weeks away i'm richard johnson i'm barry ritholtz you're listening to.

Houston High School Attorney Santa Fe Texas White House Donald Trump Ryan Nobles Ferro New York Richard Johnson Barry Ritholtz President Trump Seventeen Year Three Weeks Three Years Five Day
Boooh! California Bows To Industry Pressure, Reduces HOV Lane Access For EVs. Fight Back!

Masters in Business

01:01 min | 2 years ago

Boooh! California Bows To Industry Pressure, Reduces HOV Lane Access For EVs. Fight Back!

"Authority to resolve broad policy questions with profound implications for the global economy international relations in america's national security new york sued the companies in january claiming they're the world's largest public companies contributing to global warming california has moved up one rank to become the world's fifth largest economy according to state analysis of federal data california's gross state product was two point seven five trillion dollars in two thousand seventeen up by one hundred billion from the prior year california is now behind germany and ahead of the united kingdom in the size of its economy new york governor andrew cuomo says a proposal to open supervised injection sites for a legal drug users in an effort to combat fatal overdoses we'll be closely reviewed he said the plan to open injection sites races legal questions global news twenty four hours a day on air and a tick tock on twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries i'm mark tells bloomberg radio i'm barry ritholtz.

America York California Twitter Mark Barry Ritholtz Germany Andrew Cuomo Bloomberg Seven Five Trillion Dollars Twenty Four Hours
"barry ritholtz" Discussed on Masters in Business

Masters in Business

02:26 min | 2 years ago

"barry ritholtz" Discussed on Masters in Business

"Will the hoses what a shocker and facebook lee yeah but like we knew the dole's roy so there's a bunch of you can kind of see this as they try and work out how we talk about this how do we think about this stuff we have been speaking with ben leaked evans of injuries and horowitz if you enjoy this conversation be sure and check out our podcast extras where we keep the tape rolling and continue discussing all things technology we love your comments feedback and suggestions write to us at m i b podcast at bloomberg dot net check out my daily column on bloomberg view dot com you can follow me on twitter at writ halts i'm barry ritholtz you're listening to masters in business on bloomberg radio whether you're an entrepreneur growing your own business a star contributor turn manager a senior executive top to lead a global business unit or a season executive preparing for the c suite harvard business school executive education can help you rise to the challenge 'therefore comprehensive leadership programs accelerate career growth and transformed talented executives into confident business leaders to learn more visit h b s dot me slash transform that's h b s dot m e slash transform welcome to the podcast bentley thank you so much for doing this you're you're talking about stuff that i really find endlessly fascinating including the responsibility of facebook to either have an open platform and with that risk entails or to control their own a p is in control who access what from your feed what nobody is talking about and by the time this airs he will have a mark zuckerberg we'll have already done his congressional testimony but there's still a tremendous man responsibility on the individual user who willingly said hey here's a ton of private personal information about my me try not to mess it up i i was always to skeptical i was always to why do you want this information can't be good purpose from the other end which is i think people.

evans horowitz twitter barry ritholtz executive facebook mark zuckerberg ben bloomberg dot bloomberg senior executive harvard business school
Amazon, Tesla and California discussed on

01:23 min | 2 years ago

Amazon, Tesla and California discussed on

"Each package it delivers for amazon amazon has said the postal service makes money on its deliveries tesla is defending itself in the wake of fatal crash of one of its self driving model x vehicles tesla said computer logs of the model x vehicle involved in the crash a week ago showed the driver didn't have his hands on the steering wheel for six seconds before the accident this despite audio and visual warnings to do so the driver died march twenty third when his model x hit a highway barrier in california and caught fire greenlight capital the hedge fund run by david einhorn suffered in the first quarter of this year the main hedge fund at green light fell about one point nine percent in march and that extended its lost this year to fourteen percent all that according to a client update seen by bloomberg barons reports in its april second issue of that canadian cannabis related stocks are soaring as the country seeks to become the silicon valley of marijuana but cheers face risks as legal we'd finds a balance between supply and demand global news twenty four hours a day powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries i'm susanna palmer this is bloomberg i'm barry ritholtz you're listening to masters in business on bloomberg radio my special guest today is david enrich.

Amazon Tesla California David Einhorn Cannabis Marijuana Susanna Palmer Bloomberg Barry Ritholtz Bloomberg Barons Twenty Four Hours Fourteen Percent Nine Percent Six Seconds
‘Hedge Fund King’ Steven Cohen Gets Back to Business

02:16 min | 2 years ago

‘Hedge Fund King’ Steven Cohen Gets Back to Business

"Parade it's sent to begin about an hour from now on fifth avenue at forty four th street i'm christopher cruise i'm susanna palmer from bloomberg world headquarters steven cohen is back at the helm of his hedge fund this after doug haynes president at cohen's point seventy two asset management as step down from his post haynes guided the firm for four years in the wake of an insider trading scandal the resignation comes as cohen stages comeback as a hedge fund manager after a two year ban he'll serve as president and ceo during the search for a replacement for hanes billionaire john paulson who's hedge funds assets of plunged is opening the door for more money to leave people familiar with the matter say paulson's firm once one of the biggest in the industry will return money to investors in some form russian hackers attempted to penetrate the us civilian aviation industry early last year as part of the broad assault on the nation's sensitive infrastructure jeff troy executive director of the aviation in for nations sharing and analysis center said the attack had limited impact and the industry has taken steps to prevent a repeat of the intrusion horizon investments chief global strategist greg valliere is predicting larry cudlow tapped by president trump to be the top white house economic adviser won't last long the story from bloomberg's charlie pellett inter note valliere says the trump kudlow relationship reminds him of quote a wedding where everyone whispered at the reception that the match would never last they are ready to agree terrorist so i think there's still a lot of difference within this administration i don't think everybody is on the same page and valliere says kudlow is a nice guy houma swim in shark build waters and he fears he'll be gone by thanksgiving charlie pellett global news twenty four hours a day powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries i'm susanna palmer this is bloomberg this is masters in business with barry ritholtz on bloomberg radio.

Donald Trump Executive Director Jeff Troy Hanes Doug Haynes Bloomberg World Barry Ritholtz Kudlow Bloomberg Economic Adviser Larry Cudlow Greg Valliere Assault United States John Paulson President And Ceo Fund Manager President Trump
"barry ritholtz" Discussed on Masters in Business

Masters in Business

02:33 min | 2 years ago

"barry ritholtz" Discussed on Masters in Business

"Was at mit podcast at bloomberg dot net you can check out my daily column on bloombergviewcom or follow me on twitter ritholtz be sure and check out our podcast extras where we keep the tape rolling and continue discussing all things bonds commodities and equities you can find those podcast extras wherever finer podcasts or sold apple i tunes overcast soundcloud and bloombergcom i'm barry ritholtz you're listening to masters in business on bloomberg radio the whether you're an entrepreneur growing your own business a star contributor turned manager a senior executive top to lead a global business unit or a season executive repairing for the ceased wheat harvard business school executive education can help you rise to the challenge 'therefore comprehensive leadership programmes accelerate career growth and transform talented executives into confident business leaders to learn more visit h s dot me slash transform that's h b s dot m e slash transform welcome to the podcast thank you jeffrey doing this i i had so much fun on your podcast uh earlier this year i i knew i've wanted to have you here for a while let's talk about a few things we didn't get to some questions i wanted to ask you during the regular broadcast portion and then we'll jump into some more fun stuff uh so you mentioned supermario we were talking about the fed uh we left out the third player in central bank kuroda on yes what what do you think about a abanoned x'wn and what's going on in japan and can you ever recall a period where the us japan in europe were so out of phase with their recovery's and or economic stimuli had a that's a lot to digest there so um essentially i i don't know how the boj gets out of their policy i mean they they on so many equities i mean the the data we see is like sixty percent of the equity market roughly the same etf market like you can let you could lead bonds just maturing roelof you can't do that with equities right and the other thing is is that there supposedly targetting a rate the rate isn't great they're targeting i mean it's it's flat out.

twitter apple barry ritholtz executive kuroda japan us boj bloomberg dot bloomberg senior executive harvard business school jeffrey central bank europe sixty percent
"barry ritholtz" Discussed on Masters in Business

Masters in Business

01:53 min | 2 years ago

"barry ritholtz" Discussed on Masters in Business

"How you do it and um than they wanted us to do it for them and that's what we've been doing since we have been speaking with ray dallaglio he is the founder and chief investment officer of bridgewater associates he is also the author of the new new york times bestseller principles i strongly suggest you go out and read it if you enjoy this conversation be sure and check out our podcast extras where we keep the tapes rolling and continue to talk about all things investing be sure and check out my daily column on bloombergviewcom you could follow me on twitter ritholtz you are now tweeting aren't you yeah and your your twitter handle isdallaglio at ray dalia radio at ray dallaglio we love your comments feedback and suggestions write to us at mit podcast at bloombergnet i'm barry ritholtz you're listening to masters in business on bloomberg radio the whether you're an entrepreneur growing your own business a star contributor turned manager a senior executive top to lead a global business unit or a season executive repairing for the ceased wheat harvard business school executive education can help you rise to the challenge 'therefore comprehensive leadership programs accelerate career growth and transform talented executives into competent business leaders to learn more visit h b sme transform that's h hb smetransform welcome to the podcast ray thank you so much for doing this have been looking forward to this for so long and i'm really excited i wish we had you for another two hours chris i have a million questions for you that we didn't get to.

ray dallaglio founder new york times twitter barry ritholtz executive chief investment officer bridgewater ray dalia bloomberg senior executive harvard business school two hours
"barry ritholtz" Discussed on Wall Street Business Network AM 760

Wall Street Business Network AM 760

02:22 min | 2 years ago

"barry ritholtz" Discussed on Wall Street Business Network AM 760

"Fourth attempt for the game winner tom piat at scored for little on the second attempt jimmy hangs adam henry brain givens and david season scored for new jersey which rallied from a twonothing deficit but forestry goals devils down seven and two on the season will the bloomberg sports update i'm tom rogers these masters in business with barry ritholtz on bloomberg radio my special guest today is god of galloway of in while you stearns rule of business as well as el to inc is the founder of a number of internet startups uh any specializes in digital brandon ii reached out to professor galloway after heating his four horsemen of of the internet video one youtube a few years ago we've interviewed him twice before for astor's and business he is not only our first threetimes gas did he's likely to be the only one scott galloway welcome back to bloomberg thinkers who is i'll do i get a jacket edwards is that it's like the masters green jacket in aceh might be on the books garcia exactly exactly it's it's all the fun for everybody let's talk about your new book a four the hidden dna of amazon apple facebook and google the first question is why the four and why vis for through i believe as consumer companies these these committees of tapped into a basic instinct and have had a bigger role or announce size role on society who we are as people and uh than almost organisations in history much less companies also take us a tremendous amount to learn from these companies in our role as professors or business who i think is to help people develop the currency skills so that can create economic security for them and their families and to really understand is companies are there to understand the intersection between technology innovation media and habit have an advantage i think there's some can all learn from really understanding these companies so if i am a for she a business student at stern would take away do i do i get from four showed first here's an interesting race i think the first your business was one of the highest roy investments and individual comeback we retook a kid he's making seventy thousand permanent caters making six figures.

aceh stern google bloomberg adam henry jimmy roy investments facebook tom piat astor professor galloway founder barry ritholtz tom rogers new jersey david season
"barry ritholtz" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:34 min | 2 years ago

"barry ritholtz" Discussed on Bloomberg Radio New York

"Thousand ten reflecting major disruptions from hurricanes harvey and armagh and with more here's bloomberg's many doj dice the labor department reports nonfarm payrolls dropped by thirty three thousand in september the numbers reflect harvey's impact on texas in late august than urmas fall out in florida in september the number of people unable to work due to bad weather was the highest since 1990 six the government david doesn't include puerto rico which was hit by a hurricane maria national labor market remained saw with the unemployment rate dropped to four point two percent the lowest since two thousand one vinny del jude ice bloomberg radio reaction from bill gross spun matter drew a janice anderson group i note that the wage the revised higher in terms of the last month as a two point seven percent while wion upper have at it higher so i i think that's good for american workers and carl riccadonna is chief us economist at bloomberg intelligence there's no way that we can look at this report and really try to glean any underlying economic i'm a trends obviously payrolls were distorted it looks like the unemployment rate move was also were distorted due to how they count of folks in the household survey and without doubt average hourly earnings are boosted the sp 500 index fell two points to twenty five forty nine or drop their of one tenth of one percent the the dow jones industrial average lower little changed down a point at twenty two thousand seven hundred seventy three nasdaq up four to sixty five ninety a gain of one tenth of one percent global news 24 hours a day powered by more than twenty seven hundred journalists and analysts in more than 120 countries i'm charlie pellett this is bloomberg these masters in business with barry ritholtz on bloomberg radio my guest today is fred fox he is the founder and ceo of of let it up fred has pioneered the development and commercialisation of weather analytics and how this impacts the global supply chain he advises many of the world's largest corporations previously he is the inventor of the patents which i think we could call whether nommik says that a fair description he received the bs degree from the georgia institute of technology this is really a fast inning subject because as as we see an have seen over the past couple of years.

founder and ceo georgia institute of technolog fred fox nasdaq sp 500 index carl riccadonna puerto rico david armagh nommik supply chain harvey barry ritholtz charlie pellett dow jones janice anderson unemployment rate labor market florida texas bloomberg one percent seven percent two percent 24 hours
"barry ritholtz" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:41 min | 3 years ago

"barry ritholtz" Discussed on Bloomberg Radio New York

"With barry ritholtz on bloomberg radio my special guest today is wrong gene naga swamy she has a stellar resume filled with all of this firms on wall street and in finance she began at ubs in the asset management division before she joins sanford bernstein of bench lee rising to become chief investment officer of alliance bernstein investments from two thousand ten to two thousand and twelve she served as the chief investment adviser for the city of new york's pension and retirement systems she has held senior positions at bridgewater associates horse their cap it'll and she is currently chief executive officer of hurdle callahan ronji noticed while me welcome to bombard thanks for having me larry so i've been looking forward to having you for a while because you have a really fascinating background and white a financial services resume let's start with ubs what what brought you to ubs and what did you learn there so i got to ubs right off your business school i was in the fixed income division having been a quantum bit epa selfprofessed geek all my life with an accounting and mathematical background it was not a surprise that i started out at the bottom of the investment department and fixed income as a quantitative analysts and over the ten years from the time i started to the time i ran the entire department at egr blow believe running fixed income for ubs asset management i were many hats in the late nineteen 80s in 1989 during the snl crisis i was asked to help with a.

barry ritholtz ubs sanford bernstein lee chief investment officer new york chief executive officer callahan ronji financial services bloomberg larry egr snl ten years