35 Burst results for "Carlisle"
Joni Mitchell to return to the stage in 2023 with Brandi Carlile
"Musician Joni Mitchell will headline her first show in two decades next summer I'm Archie's R letta with the latest Joni Mitchell was a surprise guest during Brandi Carlisle said at the Newport folk festival in July Carlyle tells The Daily Show that Mitchell enjoyed it so much that she will perform her own concert on June 10th at the gorge amphitheater outside Seattle Carlyle lives near Seattle and the gorge appealed to Mitchell Carlyle says after Mitchell became the performer we all know at Newport they didn't sleep until the sun came up Mitchell who is 78 had dropped out of performing publicly She suffered an aneurysm in 2015
Dinesh Welcomes Pennsylvania Gubernatorial Candidate Doug Mastriano
"Guys, I'm really pleased to welcome to the podcast Doug mass riano. Doug is running for Pennsylvania governor. He's the GOP nominee. He's currently serving as a state senator for Pennsylvania's 33rd district. Dog retired from the U.S. Army as a colonel in 2017 after 30 years of service. He saw tours of duty in Iraq, Afghanistan. He also has been a Professor of the U.S. Army at the U.S. Army war college in Carlisle, Pennsylvania, where he taught strategy. He has four masters degrees. What? And a PhD in history. And Doug welcome to the podcast great to have you. Boy, you are running in a tough election in a critical stage, but I your first time on the podcast. I just like you, I'd like to introduce you to my audience, sudden and I see you've done all kinds of things in a very interesting life, so tell a little bit about your story so people can get to know you better. I was raised in a lower middle class family. My dad was a high school dropout. And at 17, he got in trouble for drag racing his car too much, and he kindly judged that you're either going to jail or joining the navy. And so my dad joined a navy, and it completely radically turned his life around. My dad used to say Doug, I was a punk until I joined the navy, and it gave him discipline of focus. And he went on to become one of the most hardest working men I ever knew that he went from working menial jobs all the way up to being a senior manager in the air products plant and he did quite well in life.
Who Will This 'New and Improved' IRS Target?
"In the meantime, back to this IRS thing. I mean, I'm just kind of offended. I sound like I'm like, you know, one of the woke ones right now, 'cause I'm offended, everything. But I'm offended when they think that the answer is to somehow just go after every Tom dick and Harry and Jane and Susan and Sally. And this is who will be affected. It will be your middle class. As much as they're going to try and tell you, oh, it's the 1%, no, no, no. Just in terms of, if you have that many IRS agents, who are they going to go after, and they can't, as I keep saying, they can't go after. The people that they should go after were just the billionaires, they get away with the great deal on the tax front because we've got lawmakers that are so concerned about making sure they have enough money for their next campaign. I told you yesterday about all the money. I mean, Kirsten sinema is one example. She's got donations individual donations from the private equity industry totaling over 500,000 for her last campaign. I mean, that is a lot of money, right? And I'm just looking at the numbers 54,900 from executives over at KKR, 35,000 at Carlisle, 27,300 over at Apollo. The private equity industry is a very big lobbying organization. In fact, they probably spend more money than any other industry right now. They're on K street and one of the reasons they're doing this is to give themselves the beneficial treatment when it comes to taxes. Do you know the Chuck Schumer? Collected 1.28 million from the private equity industry, including Blackstone and KKR, so you really think that he's that interested in raising taxes on this particular group of people. Go back and listen to Monday's podcast. If you want to explain or they're on why this is income and why it should be treated as income and why this is just highway robbery, frankly, of the American people and of our government, but these people in Washington I'll tell you the whole system is so darn corrupt. When you see what just went down. And when you see that they're going to effectively inflate, again, the U.S. economy artificially by spending all this money while simultaneously adding another 80 billion to go after everyday folks from the IRS all all while saying we're going to give a pass to those private equity investors. I mean, give me a break. It's not investment. It's income and they need to be taxed as such. Anyway, it's really pretty disgusting. But the whole thing is just disgusting. I mean, the idea that they want to pass this off, the name itself as somehow an inflation reduction act. Guys, you're just spending more money. All right, before I get to that, I do have one more thing I want to mention to you. You know, it's summer and we're all looking for movies and I don't know about you, but it's kind of hard sometimes. Kind of hard to find a good movie that you can enjoy watching that is representative of your values. I think that our values have gotten kind of lost and pop culture these days. And it's one of the reasons why I think it's important for all of us to think about what we're watching and who we're supporting when we watch it, right? Are you really into Disney right now with all their bogus? Or do you want to try and seek out some alternative sources of entertainment? This is where this movie in particular comes in. When I was a kid, I used to watch Cameron on that, what was that show? Oh, you know what? I got to look it up right now as I'm talking to you. This is how you know I'm recording in real time. He had that sitcom, when I was a kid, what was it? So anyone who can answer that in the questions below, extra super duper points, go to you. I'm going to come back to that in a second because it's going to drive me crazy. I remember that sitcom really, really well. Anyway, he's got a new movie out a new movie that he's backing. He's a very big Christian. He's an growing pains. Growing pains. That was the sitcom. I remember that now. Anyway, he's got a new movie that is just out. It's pretty neat. It's got a good message, and I think it's worth taking a look at as you're looking for things to watch and be entertained by. So this is called life Mark. And in this movie life Mark, it tells the story of David who has this very comfortable world that gets totally turned upside down when his birth mother, unexpectedly reaches out to him, and she's looking to meet him. He's 18 years old at that point. She only had the chance to hold him once, and she went looking for him and he finds this out. So it's really, it's an interesting storyline and probably one that happens a lot. He gets encouragement from his adopted parents, and so he embarks on this life altering journey, which really is a process of discovery and it leads to a pretty staggering truth from his past, inspired by a true story life mark is a powerful reminder that one decision, one choice can impact so much more than one life. It's a pro family pro love pro forgiveness pro reconciliation and pro new beginnings kind of movie.
Kyrsten Sinema Is BIG Beneficiary of Private Equity Lobbying Machine
"Let's dig in to what kyrsten sinema just actually did. Or maybe I should back up for a second and tell you how much money she gets from the private equity industry. Oh, turns out, individuals within the private equity industry. Accounted for more than $500,000 worth of donations made up 10% of her individual donors club. In the last cycle, and now it looks like this whole drama over her not signing anything, not going along with it. Oh, it was just over how much money they're allowed to really get paid and how much the IRS is going to go after them. So we get the IRS saying they're going to put $80 billion towards the hiring of tens and tens of thousands of new IRS agents to go after everyday Americans. Kyrsten sinema ensured that the private equity industry would continue to be able to pay less as a percentage basis of taxes for their income tax than school teachers, firefighters, or any of the administrative personnel that happens to work for them. I mean, yeah. That's what's happening in Washington, D.C.. You should be disgusted. I'm disgusted. Let me tell you a little more about Kirsten cinema and how much money she's getting individual donations, as I said, totaling more than $500,000 for a half a $1 million in campaign donations all from private equity individuals, including $54,900 from executives at KKR, 35,000 from Carlisle, 27,300 from Apollo 24,500 from crow holdings 23,300 from riverside.
Joni Mitchell, 78, graces stage after nearly 2 decades away
"A big surprise for music fans over the weekend don't it always seem to go that you don't know what you've got till it's gone it takes you could be forgiven for thinking that Joni Mitchell had done her last performance She had suffered an aneurysm back in 2015 and has had some health issues since It's believed her last full show was in late 2002 but there she was taking part in a full length concert Sunday at the Newport folk festival in Rhode Island The Boston Globe report she joined brandy Carlisle and other artists including wynonna Judd and Marcus mumford doing a 13 song set She even played an electric guitar solo After their rendition of both sides now Carlyle fought back tears and asked the audience did the world just stop I'm Oscar wells Gabriel
"carlisle" Discussed on Bloomberg Radio New York
"Makes Apollo interesting different from Blackstone different from Carlisle different KKR pure firms if you like Is that the overwhelming percentage of its assets is in fixed income And not just fixed income you think fixed income you think bonds you think loans publicly traded loans No what they do is what we call private credit In fact they have what they call a yield business that has $360 billion of private credit And as a result of that they have a slightly different perspective on the world They don't get stressed out by days like the one we've seen transpire today in the stock market where the Dow is down 5 25 and then it's up 50 They can sleep through that stuff quite easily because they for the most part don't manage daily liquidity vehicles Right And his view is that the correction is not over The you know he sees what everybody sees right He's concerned about inflation is concerned about rates If you were in a again a daily liquidity vehicle or an individual bond or an individual loan You'd be more concerned about these things Because you have to take that daily hit if the market is weakening If you're in these vehicles the funds for example I don't have to vehicles sounds like it's a car It's a fun right Or a product Where you can't cash out immediately it's actually much easier to sleep at night both the managers and for the clients Because you can write out these storms This is a storm of volatility that we're living through in the market And it's one of the reasons why the mood here at milken is in darker because most of the people here come out of the Mike milken drexel Burnham Lambert legacy and they are managers of private equity private credit Those are the people who can for the time being We see it with the guests that we talk to in private equity It's just a very different feel They're not stressed They aren't stressed As much Eric one of the most fascinating parts about the conversation that you had earlier with Mark Rowan was what he said happens over the next 5 years when it comes to retail investors And the idea that he thinks that within the next 5 years or 5 years from now we will see retail investor portfolios 50% made up of alternative investments because and a lot of this will be fixed income replacement These vehicles that I've been talking about because their belief well first of all they're designing products that will appeal to the retail investor Right now the retail investor only has access to products that resemble institutional products And the retail investors needs are different from the institutional investor's needs So first it's about product development but secondly it's about the retail investor particularly at a time like that's waking up to the reality that there's no point paying for public market liquidity if you don't need public market liquidity This is the same realization that institutional investors like pension funds and endowments came to over the past 30 years led by the now late David swensen from Yale who pioneered the endowment model If you don't need the money now why put it into a vehicle that gives you access to liquidity Now it doesn't make sense you're paying for something you don't need It is the evolution of a theme It's not like a switch flipped And all of a sudden we went from a world of public markets to a world of private markets As I say this has been slowly building It starts with the most sophisticated participants the Yale endowments for example the Harvard endowments smart sovereign wealth funds.
"carlisle" Discussed on Bloomberg Radio New York
"At Carlisle group a publicly traded $300 billion farm That's $300 billion in assets under management So let's talk about Carlisle in general You guys have been on a torrid asset raising pace You've been breaking categories As has private credit also so you're in the right place at the right time Why is this so hot right now Is it just as simple as there is no alternative yields are so low on the fixed income side And you guys can deliver consistent returns without a whole lot of risk and volatility In case you step back and think about it from the average institutional investor and what they're trying to achieve And you know it'll vary but let's use this as a starting point Let's assume that on average most institutional investor over the long term is trying to achieve 7% for the beneficiaries In a negative real rate environment with equity returns have been I think 15% over the since O 9 Roughly if you get 13 plus last year 13 plus something like that Well where's your long-term forecast for equity I mean a lot of people would probably tell you public equity long-term forecast is probably in the 6 to 7% range maybe lower I don't know You do the math on that over a ten year horizon It's very hard to get 7% So you take 6% 5% from public equity and you add in 2% from fixed income and you blend it at 7 And you blend it That's the secret You can't average them you got to add get an add them And that's how you get to see that They didn't teach that math in Canada Maybe that's maybe how our education system was different That's the problem with expected returns is we've been hearing forecasted lower expected Hey markets are high valuations are high We've had two Long-term returns are 8% We've been 13 That was before last year's nearly 28% on the equity side So you should ratchet down your expectations After you hear that so long people sort of stop paying attention to it This is probably the year where they should be paying attention Yeah and I think here's a good thing I think about the institutional investor writ large is that they generally are pretty thoughtful and long-term thinkers I mean I think that sometimes that's on the manager side I think we have all the answers but I would say they're pretty smart people that are managing broad diversified portfolios And I believe what they recognize as a fiduciary you can't hope isn't a strategy I hope I keep getting the same returns in public equities That's a great that's a great thought but I don't know if that delivers And so what people have been doing is there is a trend demonstrable trend of putting some of your cash if you can be illiquid into alternatives Private equity real estate credit infrastructure And that trend is just going to continue as we continue to be in this lower rate environment I know rates are going up but like historically there's still very low they could go up four or 5 increases and you're still historically low Do you remember when libor was like 6% Yeah I do I remember when my parents had a mortgage that was 18% So I remember when my father in law's New York City general obligation bonds from the 70s that were yielding 1819% came up and he said what can you get me Like I could get you a 6% and 4% munis or 6% longer term bonds He's like 6% Who the hell wants 6% Yeah And that was I don't know 20 years ago And you would kill for that Right right Now 6% Oh my goodness How do I get 6% Yeah I remember I stopped off topic but I remember I was talking to a guy who asked me said you know I'm looking at these Ontario zero coupons at like 11% What do you think I said I think they're going to go higher I would buy them How'd that work out Yeah he didn't work out well He didn't buy him and he's mad at me to this day So anyway but you know you go back to this and you say to yourself why is it these really smart institutional investors right They are smart people who are investing money on behalf of a lot of people Rotating into alternatives and the singular reason is is because they're looking for a pickup in a liquidity that they're getting from being in that asset class And my prior employer CPP IB they recognize because of the long live of the asset base for them which is they looked 75 years forward You could be a 100% in equities if you wanted to be Now the volatility of that I don't think stakeholders could handle But today allocation is 85% equities So if you can layer on top of that alternatives would give you a premium and you can bear that whether the volatility then actually you're probably going to return more for your beneficiaries than if you just stayed in public assets But I think a lot of investors forget the illiquidity premium is there for a reason And if you don't have a need for that liquidity you're effectively getting a discount in public fixed income markets So if you don't need that liquidity why not take the additional hundred to 200 basis points in returns Correct And I think that is what you're seeing And that's what's driving it right now I mean the conversations we have with institutional investors with consultants today is very much in that vein which is you can afford to have this much of illiquidity in your portfolio You should tuck that away and you should pick up that illiquidity premium And there's other you know all the academic studies say there's illiquidity that's complexity and there's a lot of other things in there But when you can pick up a hundred to 500 basis points which is kind of the range that's pretty attractive Especially relative to 200 basis points on a ten year So back to the question on scale where does this top top out are we still very early days in the growth of all these different types of private credit transactions The way I maybe think about it in terms of growth is there's over 1.3 trillion of dry powder and private equity today And it's probably much higher than that and there's a lot of people that they're raising money If you think about how much financing that will drive that drives at least another multiple of it right Two to three times 2.6 billion.
"carlisle" Discussed on Bloomberg Radio New York
"Carlisle group a publicly traded $300 billion farm That's $300 billion in assets under management So let's talk about Carlisle in general You guys have been on a torrid asset raising pace You've been breaking categories As has private credit also so you're in the right place at the right time Why is this so hot right now Is it just as simple as there is no alternative yields are so low on the fixed income side and you guys can deliver consistent returns without a whole lot of risk and volatility In case you step back and think about it from the average institutional investor and what they're trying to achieve And you know it'll vary but let's use this as a starting point Let's assume that on average most institutional investor over the long term is trying to achieve 7% for the beneficiaries In a negative real rate environment with equity returns have been I think 15% over the since O 9 short roughly if you get 13 plus last year 13 plus something like that Well where's your long-term forecast for equity I mean a lot of people would probably tell you public equity long-term forecast is probably in the 6 to 7% range maybe lower I don't know You do the math on that over a ten year horizon It's very hard to get 7% So you take 6% 5% from public equity and you add in 2% from fixed income and you blend it at 7 And you blend it That's the secret You can't average them you gotta add an add them And that's how you get to see that They didn't teach that math in Canada Maybe that's maybe how our education system was different That's the problem with expected returns is we've been hearing forecasted lower expected retail markets are high valuations are high We've had two Long-term returns are 8% We've been 13 That was before last year's nearly 28% on the equity side So you should ratchet down your expectations After you hear that so long people sort of stop paying attention to it This is probably the year where they should be paying attention Yeah and I think here's a good thing I think about the institutional investor writ large is that they generally are pretty thoughtful and long-term thinkers I mean I think that sometimes us on the manager side think we have all the answers but I would say they're pretty smart people that are managing broad diversified portfolios And I believe what they recognize as a fiduciary you can't hope isn't a strategy I hope I keep getting the same returns and public equities That's a great that's a great thought but I don't know if that delivers And so what people have been doing is there is a trend demonstrable trend of putting some of your cash if you can be illiquid into alternatives Private equity real estate credit infrastructure And that trend is just going to continue as we continue to be in this lower rate environment I know rates are going up but like historically there's still very low they could go up four or 5 increases and you're still historically low Do you remember when libor was like 6% Yeah I do I remember when my parents had a mortgage that was 18% So I remember when my father in law's New York City general obligation bonds from the 70s that were yielding 1819% came up and he said well can you get me Like I could get you a 6% and 4% munis or 6% longer term bonds He's like 6% Who the hell wants 6% Yeah And that was I don't know 20 years ago And you would kill for that Right right Now 6% Oh my goodness How do I get 6% Yeah I remember I stopped off topic but I remember I was talking to a guy who asked me said you know I'm looking at these Ontario zero coupons at like 11% What do you think I said I think they're going to go higher I would buy them How'd that work out Yeah he didn't work out well He didn't buy him and he's mad at me to this day So anyway but you go back to this and you say to yourself why is it these really smart institutional investors right They are smart people who are investing money on behalf of a lot of people Rotating into alternatives and the singular reason is because they're looking for a pickup in a liquidity that they're getting from being in that asset class And my prior employer CPP IB they recognize because of the long live of the asset base for them which is they looked 75 years forward You could be a 100% in equities if you wanted to be Now the volatility of that I don't think stakeholders could handle But today allocation is 85% equities So if you can layer on top of that alternatives would give you a premium and you can bear that whether the volatility then actually you're probably going to return more for your beneficiaries than if you just stayed in public assets But I think a lot of investors forget the illiquidity premium is there for a reason And if you don't have a need for that liquidity you're effectively getting a discount in public fixed income markets So if you don't need that liquidity why not take the additional hundred to 200 basis points in returns Correct And I think that is what you're seeing And that's what's driving it right now I mean the conversations we have with institutional investors with consultants today is very much in that vein which is you can afford to have this much of a liquidity in your portfolio You should tuck that away and you should pick up that illiquidity premium And there's other all the academic studies so there's illiquidity that's complexity and there's a lot of other things in there But when you can pick up a hundred to 500 basis points which is kind of the range that's pretty attractive Especially relative to 200 basis points on a ten year So back to the question on scale where does this top top out are we still very early days in the growth of all these different types of private credit transactions The way I maybe think about it in terms of growth is there's over 1.3 trillion of dry powder and private equity today And it's probably much higher than that and there's a lot of people that they're raising money If you think about how much financing that will drive that drives at least another multiple of it right Two to three times 2.6 trillion.
"carlisle" Discussed on Bloomberg Radio New York
"Is the head of global credit at Carlisle group where he runs $73 billion in assets Carlisle group now runs over $300 billion in client money Let's talk a little bit about credit and fixed income side for your career What led you to make that leap from a credit analyst and a fixed income analyst to actually managing credit portfolios Yeah Barry when I think about just being in credit generally people ask me all the time and I look back and my not illustrious sporting career which was soccer hockey and I always played defense So I never really played on the offense I was always trying to keep the puck or the ball out of the net and helping people do that And I think when you think about credit what you're looking to do is there's a contract between me and you and I give you some money and at the end of that term the contract to give me the money back That's defense I'm not looking for we're not looking for massive upside that you shoot the lights out on the equity side And so it always seemed to be very much a comfort zone for me that I could operate in an area where I could understand what was going to allow me to get my money back at the end of the day And all that training at Goldman had taught me as a credit analyst that's what I was always thinking about is how will this ob gore give us the money back at the end of the day so that we're in a good position and we're minimizing our credit risks I think the other thing that Goldman really taught me was how to mitigate risk and downside and really focus on the downside and a lot of situations And so coming at investing from that perspective naturally led me to a better credit hat than it ever did equity And in fact I did run equity private equity at CPP IB I think I was okay at it but I definitely majored in credit So that's the path I pursued And it's been fruitful and I really find it fascinating I'm a credit geek if you will Yeah no I'm intrigued I love the soccer hockey metaphor I have a friend who's fond of saying a bad year in fixed income is a bad afternoon in equity And it's really kind of true What's the worst year high quality fixed income has Not that bad because of that return on of capital Yeah and I think for anybody who manages a portfolio and getting back to that managing large portfolios at a place like CPP ID is you recognize we're just like one exposure in somebody's broad portfolio So you got to think about what your meant to deliver into that portfolio And that is a very stable persistent return three cycles And that's to me what credit encapsulates from an investor standpoint So let's talk about some of those different silos of capital You have a couple of different credit segments liquid credit illiquid credit real estate assets am I missing any or No that's it Those covers are the big three So break those down for us if you would Yeah so what we wanted to do and from my experience on the other side an experience that these other organizations was explaining credit which isn't really a monolithic asset class It has a range of exposures and a range of expected outcomes through time that we really wanted to be able to deliver to investors that range of risk return outcomes right And so if you think about non investment grade credit you go from leveraged liquid loans clos which is the liquid credit side of things to direct lending to opportunistic credit to distress which is really private or E liquid credit because it doesn't trade And then there's real asset credit which involves assets like real estate infrastructure in our case aircraft aviation where the underlying security and cash flows are determined on hard assets And all of those from an investor's perspective allow you to put together a portfolio that is diverse away from just single name credit And I think that's what people like on the institutional side I know that from experience that's what we look to do in my portfolio in my former life and that what people are doing today So that was .1 we wanted to be relevant to our customer if you want to call them that The investor Number two we got to be relevant to the user capital right By having a platform approach which really kind of covers that span that broad span we can be relevant to almost any borrower in the world for whatever they want to do right So they may have some real estate They may have ongoing cash flow loans but you can put them together and you can deliver an opportunity Why is that important Because it allows us to have the widest funnel from an origination standpoint that we can and leverage that Carlisle network where we're operating on a global basis So that's really those three verticals really feed into what we're trying to accomplish from a platform perspective So let's focus within the illiquid credit silo tell us a little bit about private credit because when I hear that phrase I tend to think of merchant banking and the sort of mid level bank services that Wall Street has sort of grown out of and only focuses on the largest companies but there is a lot of really substantial amount of firms and activity in that space It just doesn't seem to scale to public Wall Street activity Yeah a little bit of history I guess is probably worthwhile If you went back to O 8 O 9 which I was fortunate enough to be in the credit market sent to work through that which was very very interesting What you found is the banks had already started to retrench from the lending market I mean that in fact it started well before Oh 8 O 9 and then late 90s more or less In the institutional market specifically on the loan side started to increase And if you went from 8 O 8 O 9 to call it 2020 if you saw the amount of credit inventory that banks were carrying to today that's down 80% And I put it in simple terms is they're no longer they no longer hold inventory They're shippers And in that void if you will you had a couple of other things happening One you've got a 30 year decline in absolute interest rates which we've all observed And you've seen a rotation as a result of that of these larger institutional funds that have to make returns that are in the high single digits rotate into illiquid assets The first phase of that that was some private equity People looked and said I can pick up 500 extra basis points on average if I go into private equity Plus or minus a hundred here or there I don't want to be exact on that but just approximate And they made that rotation that happened coming out of O 8 O 9 and we've seen that progression The next wave is people who are in fixed income who are picking out two 3% in corporate bonds and rotating to the extent they can allow themselves to be more illiquid picking up a hundred to a 150 basis points by going into privates Now it's not obviously without risk as you want liquidity but I think O 8 O 9 showed us that you may be overpaying for liquidity because I lived through that period of time and what you could sell was the best high quality liquid names And anything that wasn't high quality wasn't all that liquid So the risk premium you're paying for that was pretty substantial for liquidity Really really quite interesting Coming up we continue our conversation with Mark Jenkins head of global credit at the Carlyle group discussing managing private credit in a rising rate environment You're listening to masters in business with Barry red holtz on Bloomberg radio Why do hedge.
"carlisle" Discussed on Bloomberg Radio New York
"Is the head of global credit at Carlisle group where he runs $73 billion in assets Carlisle group now runs over $300 billion in client money Let's talk a little bit about credit and fixed income side for your career What led you to make that leap from a credit analyst and a fixed income analyst to actually managing credit portfolios Yeah Barry when I think about just being in credit generally people ask me that all the time and I look back and my not illustrious sporting career which was soccer hockey and I always played defense So I never really played on the offense I was always trying to keep the puck or the ball out of the net and helping people do that And I think when you think about credit what you're looking to do is there's a contract between me and you and I give you some money and at the end of that term the contract to give me the money back That's defense I'm not looking for we're not looking for massive upside that you shoot the lights out on the equity side And so it always seemed to be very much a comfort zone for me that I could operate in an area where I could understand what was going to allow me to get my money back at the end of the day And all that training at Goldman had taught me as a credit analyst that's what I was always thinking about Give us the money back at the end of the day so that we're in a good position and we're minimizing our credit risks I think the other thing that Goldman really taught me was how to mitigate risk and downside and really focus on the downside and a lot of situations And so coming at investing from that perspective naturally led me to a better credit hat than it ever did equity And in fact I did run equity private equity at CPP IB I think I was okay at it but I definitely majored in credit So that's the path I pursued And it's been fruitful And I really find it fascinating I'm a credit geek if you will Yeah no I'm intrigued I love the soccer hockey metaphor I have a friend who's fond of saying a bad year in fixed income is a bad afternoon in equity And it's really kind of true What's the worst year high quality fixed income has Not that bad because of that return on of capital Yeah and I think for anybody who manages a portfolio and getting back to that managing large portfolios at a place like CPP ID is you recognize we're just like one exposure in somebody's broad portfolio So you got to think about what your meant to deliver into that portfolio And that is a very stable persistent return three cycles And that's to me what credit encapsulates from an investor standpoint So let's talk about some of those different silos of capital You have a couple of different credit segments liquid credit illiquid credit real estate assets Am I missing any or No that's it Those covers are the big three So break those down for us if you would Yeah so what we wanted to do and from my experience on the other side and experience that these other organizations was explaining credit which isn't really a monolithic asset class It has a range of exposures and a range of expected outcomes through time that we really wanted to be able to deliver to investors that range of risk return outcomes right And so if you think about non investment grade credit you go from leveraged liquid loans clos which is the liquid credit side of things to direct lending to opportunistic credit to distress which is really private or E liquid credit because it doesn't trade And then there's real asset credit which involves assets like real estate infrastructure in our case aircraft aviation where the underlying security and cash flows are determined on hard assets And all of those from an investor's perspective allow you to put together a portfolio that is diverse away from just single name credit And I think that's what people like on the institutional side I know that from experience that's what we look to do in my portfolio in my former life and that what people are doing today So that was .1 we wanted to be relevant to our customer if you want to call them that The investor Number two we got to be relevant to the user capital right By having a platform approach which really kind of covers that span that broad span we can be relevant to almost any borrower in the world for whatever they want to do right So they may have some real estate They may have ongoing cash flow loans but you can put them together and you can deliver an opportunity Why is that important Because it allows us to have the widest funnel from an origination standpoint that we can and leverage that Carlisle network where we're operating on a global basis So that's really those three verticals really feed into what we're trying to accomplish from a platform perspective So let's focus within the illiquid credit silo tell us a little bit about private credit because I want to hear that phrase I tend to think of merchant banking and the sort of mid level bank services that Wall Street has sort of grown out of and only focuses on the largest companies but there is a lot of really substantial amount of firms and activity in that space it just doesn't seem to scale to public Wall Street activity Yeah a little bit of history I guess is probably worthwhile If you went back to O 8 O 9 which I was fortunate enough to be in the credit market sent to work through that which was very very interesting What you found is the banks had already started to retrench from the lending market I mean that in fact it started well before Oh 8 O 9 and then late 90s more or less In the institutional market specifically on the loan side started to increase And if you went from 8 O 8 O 9 to call it 2020 if you saw the amount of credit inventory that banks were carrying to today that's down 80% you know And I put it in simple terms is they're no longer they no longer hold inventory They're shippers And in that void if you will you had a couple of other things happening One you've got a 30 year decline in absolute interest rates which we've all observed And you've seen a rotation as a result of that of these larger institutional funds that have to make returns that are in the high single digits rotate into illiquid assets The first phase of that that was some private equity People looked and said I can pick up 500 extra basis points on average if I go into private equity Plus or minus a hundred here or there I don't want to be exact on that but just approximate And they made that rotation That happened coming out of O 8 O 9 and we've seen that progression The next wave is people who are in fixed income who are picking up two 3% in corporate bonds and rotating to the extent they can allow themselves to be more illiquid picking up a hundred to a 150 basis points by going into privates Now it's not obviously without risk as you want liquidity but I think O 8 O 9 showed us that you may be overpaying for liquidity because I lived through that period of time and what you could sell was the best high quality liquid names And anything that wasn't high quality wasn't all that liquid So the risk premium you're paying for that was pretty substantial for liquidity Really really quite interesting Coming up we continue our conversation with Mark Jenkins head of global credit at the.
Doncic, Kleber lead Mavericks past Carlisle, Pacers 132-105
"Look look look look at at at at Dodger Dodger Dodger Dodger chin chin chin chin Reggie Reggie Reggie Reggie bullock bullock bullock bullock led led led led the the the the Mavericks Mavericks Mavericks Mavericks one one one one thirty thirty thirty thirty two two two two one one one one oh oh oh oh five five five five rather rather rather rather the the the the Pacers Pacers Pacers Pacers spoiling spoiling spoiling spoiling coach coach coach coach Rick Rick Rick Rick Carlisle's Carlisle's Carlisle's Carlisle's returned returned returned returned to to to to Dallas Dallas Dallas Dallas Carlisle Carlisle Carlisle Carlisle coach coach coach coach the the the the Mavericks Mavericks Mavericks Mavericks during during during during the the the the past past past past thirteen thirteen thirteen thirteen seasons seasons seasons seasons leading leading leading leading the the the the team team team team to to to to its its its its long long long long title title title title in in in in twenty twenty twenty twenty eleven eleven eleven eleven Dodge Dodge Dodge Dodge each each each each had had had had thirty thirty thirty thirty points points points points and and and and twelve twelve twelve twelve assists assists assists assists the the the the maps maps maps maps one one one one for for for for the the the the thirteenth thirteenth thirteenth thirteenth time time time time in in in in sixteen sixteen sixteen sixteen games games games games bullet bullet bullet bullet shot shot shot shot six six six six for for for for seven seven seven seven from from from from three three three three point point point point range range range range of of of of finish finish finish finish with with with with a a a a season season season season high high high high twenty twenty twenty twenty three three three three points points points points maxi maxi maxi maxi Kleber Kleber Kleber Kleber had had had had fifteen fifteen fifteen fifteen points points points points and and and and thirteen thirteen thirteen thirteen rebounds rebounds rebounds rebounds for for for for the the the the Mavericks Mavericks Mavericks Mavericks on on on on his his his his thirtieth thirtieth thirtieth thirtieth birthday birthday birthday birthday to to to to win win win win Washington Washington Washington Washington junior junior junior junior led led led led the the the the Pacers Pacers Pacers Pacers with with with with twenty twenty twenty twenty two two two two points points points points at at at at the the the the Monticello Monticello Monticello Monticello bonus bonus bonus bonus had had had had twenty twenty twenty twenty one one one one with with with with fifteen fifteen fifteen fifteen boards boards boards boards on on on on the the the the ferry ferry ferry ferry
"carlisle" Discussed on The NBA Show
"Like, hey, we need to have these conversations with LeBron. Can you talk to Kyrie or Kev? And so you're constantly talking and just opening up the lines of communication so nothing is left unsaid, you know? Yeah, it's funny because I'm sure like in 5 years, Luca and Carlisle got will and will probably just be cool. I think I think it'll figure itself out, right? Because both people get a little older and wiser, but the thing that I see in, especially with sports is that ask, that's cool. You know, when we talk about, I'm sure me and you have both had conversations, not with each other, but like two other people where it's like, well, the fucker got me fucked up. And then you get context in a situation like, oh, oh shit. Yeah, one yesterday. I had one. Maybe last night. But the thing is, you know, in life, or life is different from the NBA, because in NBA, you ain't got time for that shit. Right. And you know, you reference the anecdote in the story where Rick Carlisle bro, Rick Carlos got time to fucking or no coaching at time in the middle of a game. All that's going to come out of this motherfucker you score two points a game, you can't have two texts. Or that's what he was trying to say. That's it. Facts. Right? Right? But he ain't got time in the middle of a game when millions of dollars are at stake because it's a business and also a championship is at stake. We ain't got time for you to be like, how do you feel? How do you do all these things? How can I help you? Bro, you don't got time for all that. Probably don't got the Mitchell bandwidth to go through and just say, hey, my guy. He barely got the mitchel bandwidth to deal with Luca. How you gonna figure it out with you? You know? I gotta say you feel because I know you feel me. You've hit the nail on the head, man. There's only so much that a coach can handle. That's where the coaching staff. So there's a staff in place. And I do think there's some responsibility for a player not Luca per se, but a really good player to be watching things happen around them and understand the landscape that is that you make the most money. You know why you make the most money? Because you're the best 'cause you're the best. So with the most money and being the best, comes a treatment that might not be the same as the 15th man on the roster. And that should offend you because that is life. Now I wasn't there, I don't know what Rick Carlisle was doing or if it crossed lines that even as the 15th man on the roster you'd be like, yo, man, that's a grown ass man. You can't do that. Maybe he did. But I think at some point, you got to look at that and understand. Things aren't always equal. Gene Dirk act shout out to my doggy, all right? Things aren't always equal. But they're fair. Right? Like I'm not gonna treat you equally, but I'm gonna treat you fairly according to how you fit into this equation. Here's the thing that I think, man, and this isn't just a my generation thing. It's not just that your generation thing. This is just a human thing, bro like, I feel like, especially at this level, everybody thinks that their, especially in, you know, it makes sense, but it's professional sports, et cetera, and also when you get to a certain level, people just think that they're like hot shit and they don't look in the mirror at a certain point, right? Yo, you're not Luka Dončić. But do you really like that your skill set? Do you know if you really want to be Luka Dončić right now? Do you know everything that goes into being Luka Dončić? Like not everybody can be Allen Iverson, not everybody can be LeBron James. Not everybody can hold that mentally, bro not everybody could be Whitney Houston or Marvin Gaye or like all these people, like sometimes, it's just tight to just make sometimes tight to be a business warmer, right? Like in the NBA. I would just be tight. You feel me like not everybody could be. Like I'm saying it goes back to your point of knowing your role, right? I ain't trying to, I ain't warm and I ain't trying to warm no bitch. You feel what I'm saying? Just letting you know. I'm clarifying that. You not a bitch warmer though. Well, I mean, there are times I was, but never was I tried to warm no bench. But I told you though. You're not a bit stronger and you weren't a bitch warmer in the mind, rise of you and you were never that at the bottom. There was a time when I was begging to be a bench warmer. That's what I was trying to get in, baby. I do whatever you need me to do. You need to say I told my dad straight up when I got that feeling. I said dad, if they need me to get these fools water, I will have that shit to them as fast and as efficiently as they need it. If they'll just keep me, bro, I'm good. Yes. No, but to your point of like the evolution of roles, and we're getting into a bag right now, rise, and we're getting into it. Our eyes are all open right now. All of them all 18 of them right now. But when you get to that point, like you'll do anything to get into the league, including be a benchwarmer. And I get this too from a writing standpoint. Like, I remember, man trying to get it to this business and I really wanted it. You really, really want it. You really wanted. And then you forget about like, yo man, you forgot, you forget sometimes like when you get to a certain place and that, you know, I don't ever want to be a bench former again, but there's some qualities of when I wasn't probably keep with me, right? That hunger, you know? All that stuff. And sometimes I just wish like, not even just professional athletes as people in general just didn't lose that hunger. Does they didn't lose that part of the game? Yeah, and I think what you're saying to tie it back to the Rick Carlisle, Lucas situation, I think you see cats like Rick Carlisle, cats like Larry Brown, cats like Jerry Sloan, you know, that's who they were as players. They came up with a chip. They played with a chip. They played with the level of demanding of others around them. And so, you know, that's what makes them so successful. They keep that with them. You know what I mean? It's a part of them. And then when that generation changes, you know, that can become a lot sometimes for the next generation. I love this game. I love sports because it's really just a mirror to life, bro. It really is. Just set out on a super just like very, huge level. Just on like a very polarizing level, but it is, so. It is. Let's take a quick break. And we're going to talk about, I'm going to talk about the Lakers. I'm not even going to do it to a T..
Founder of American Majority Ned Ryun on the Glenn Youngkin Playbook for Success
"And we're back with the founder and CEO of American majority Ned Ryan. Let's break it down. Let's look at what does this mean? Yes, it's one election, but it's a resident of the Commonwealth. Right, man, I'm excited. It's so easy to ride off all these overpaid rich bureaucrats who moved into nova change the demographics of the state. Well, that's over. This man, the nice thing, my wife, you know, said, the thing about junkin is he's like Trump because even in his acceptance speech, he was rattling off the things he's going to do day one. Yeah, that's right. He's going to have a committee meeting. No. No. Batting CRT tax cuts put advanced courses back in. Right. I mean, there's a whole long list. Huge things that as a former CEO of Carlisle group, you know, he should be able to actually implement in a business like fashion. So let's pull back from the Commonwealth. Right. Let's look at what this means nationally. Let's look at what it means for next year and 2024. Let's break down first the Trump effect. I think my old boss, I might be biased. Played this really delicately and well. He did. Because he did that phone rally, but nothing else. He did a soft endorsement, but didn't come out banging the drum on Fox every single day for Glen. Glenn came out of the closet came in on my show after mucking around my producer for a few weeks. Quitting himself, well, and then once he came on maestra, he was you opened, you know, the force that he came out of breitbart he came out of Fox Glenn was everywhere suddenly, very interesting, which means he's not fully distancing himself. He walked a very fine line. Extrapolate this for next year in 24 Ned. Well, that was the smart part about what young Ken did and I think he literally has laid out a playbook for Republicans in 2022 if they're smart, which is a massive question. Let's be honest. We're talking about that master question next. Right. Drive the playbook. The playbook is he saw he took the side of the parents. It's common sense approach in which the parents should have an advocate in which we fund public schools, we should not be abused by them. We should not have our children indoctrinated and then our kids. And it's our money. The funds everything. And Republicans need to embrace this and go, yeah, we're siding with parents. I mean, this is so common sense. I still have been around politics so long. I'm sure there's going to be Republicans will find a way to mock this up in 2022. But if they fall the Glen young can playbook and embrace it and say I'm gonna be an advocate for parents, parents have every right to be involved in their children's education. They should have every right to be involved in how their taxpayer dollars are
LL Cool J, Carole King, Tina Tuner inducted into Rock Hall
"The rock and roll hall of fame has inducted and eclectic class of musicians for twenty twenty one for a show that will be broadcast on HBO on November twentieth marches are a letter with the latest it's Eminem performing with LL cool J. for L. L.'s induction into the rock call Todd Rundgren was a no show for his well Tina Turner accepted by video noting that if she's still getting the words of the age of eighty one she must be doing something right fighters performed with Paul McCartney for their induction Carole King gets in for a second time JZ is in the first time on the ballot Belinda Carlisle and Gina Schock agogo say they're amazed they were ever considered we had no idea what you're doing when we started in nineteen seventy eight so and here we are I don't know what we don't know
"carlisle" Discussed on Burn It All Down
"I am absolutely thrilled to be continuing our in. Wfl conversation for better or for worse and joining me today is andre carlisle courtney. Sta of the diaspora united podcast. Hi courtney and andre no little. Oh thank you for having us. You know i wanna talk. You'll have to tuesday's episode. Go back gesturing and i really ran down all the drama. That's been happening and we're gonna get to some of those topics in a bit. But first i want to ask you both because the podcast is so great and it's really filled a void in sports media. And i just feel like you guys like the whole goal is to center black women and soccer in the conversation. We know they left off. How did this come about that. Like how did you two get together and start the pod for. Actually i was gonna throw it to okay. The first down started through damn so there. You go basically just kind of noticed that in in you know. Women's sports coverage is lacking overall and certainly at the bottom of that are black. Women being celebrated for their accomplishments Bit of an imbalance here. And i know crystal dunn has spoken recently on a bunch of that and so it was really with data backdrop. That i was like you know. I don't know if i'm the right person to do this. But i know this needs to be done and so i reached out to talk to a couple of people. And they're like yeah. You should definitely go ahead. And do that and i was like i cool so i was trying to figure out who should be my co-host and courtney followed me and i ended up being like i I never talk according before. He's never had a conversation before. Wait so what was it about courtney just like you're a black woman like do this with i can't well. I guess i knew that she covered soccer. I knew deep into soccer. And i got some recommendations from a from a mutual friend brea feliciano who does she's like you know what according would be perfect for this now like awesome. I know of courtney. But i've never talked to her so let's see it the first time we can talk record..
"carlisle" Discussed on We Study Billionaires - The Investors Podcast
"Cash flow. You have an unpredictable and -tarian government. Is that cheap no. It's actually quite expensive whenever you have like a big unknown like china's government. It's hard what i would suggest that people do. I guess with all the stocks come up with different scenarios assigned percentages to that and then discount. Those cash flows back. That was by pick toby over to you for any questions. Thoughts on this package. Really walk some real questions. The questions What is the impact of these regulatory changes on baba. That's the first question. It's not pretty if you might remember and financial really something. Everyone talked about the financial world which was not fully owned by baba. But jack ma was controlling shareholder and bob made a major investment. At the time. I think it was valued of more than one hundred billion dollars and it had an own goal was to raise their some bill and stuff like that. There was a massive massive company and all of a sudden it just stopped like the regulators. Just said no. You can't do that. And since then. They've started to force and financial. Open up some of that data or that hasn't been played out but they want access to that data and the also one rival to be able to purchase that data in a marketplace. And it hasn't really been figured out and then what's the price and this old data it's some data and but it's not crazy and so. This is my long in the way of saying. I don't really know what the entire practice and it seems like the market doesn't really know either but then they don't like it. I don't think that you won't see like the date with the educational sector where they just said no. You can't really make a profit anymore. I don't see that happening again. I would never have thought they were amount and say no. These business can't make providence more. It is definitely a major risk. Do you know what drove the changes. What was the rationale. What was the reason that the government give for the changes. They said that the party line or something like remote more social equality. They wanted not just social Quality but they also want better competition. They wanted to curb the magi powers. And so this is something generally the people and whenever say people the population likes to hear like just like in the west and china. They're also afraid off. you know. Companies collecting their data. And what they would do about it. But i think it also served a different purpose. If you look at the country's just so so different right you have sheeting paying the president who has sort of change. The legislation in terms of of how china is now ruled and it seems like more or less giving himself infinite runway to steal the country in whatever direction he wants to do a think. One of the one of the issues was that he saw potential rivals and he saw potential rivals. That didn't necessarily like the regime. Jack ma would be the possible. I four for that. and he. He sold disappeared from the public eye for called for six months so and he came back a lot more humble like he was quite an ob critic especially for chinese prominent person and he came back speaking very differently about the chinese government. Not long after that. I think it was only like within three or four months after that you had to their prominent people in china. That removed myself from from the pop. One of them was the founder of hindu kong but also the founder of dance. Who owns to talk. And so i think it was also signalled. That he's in control. I think i think it's a. It's a power play letters to body like you have so many wealthy people. But if you look at the eighty three wealthiest from embassy and c. p. p. c. So you can basically look at this as listening to buddy. They're basically the delegates. They have an average wealth of three point. Three five billion dollars and this is like i wouldn't call them acme mortars because that would probably be the wrong thing to say but like these are the people on xi jinping side who are running this this country they are determining the loss in comparison. If you look at the us congress and don't feel sorry for the people in the us congress if you look at the eighty three richest members they haven't ever its wealth of fifty six point four million dollars. That's still a lot of money but when you compare it to that sixty times what have in china and so. It's just. I think it was one of those powell place more than i want to say more than anything else but i definitely thought that that plant. Yeah so that's sort of that. The next question was what does that mean for the regulatory landscape. Morgan roy suggest means that probably it's a little bit more unpredictable. Is that fair or this potential for more of his. How does it differ from state so if a company gets to begin this site so microsoft antitrust legislation against it in the early two thousands or antitrust action against other. And you know this sort of rumblings now in the states and it has been for about five years about the bigger companies here that they may have too much market power. There may be collecting too much data. Exercising some censorship. How is it different from you. Know nothing's happened the site so it's it's purely theoretical but what's the difference between the speed and magnitude. I would say let's take google for instance sued last october. Twenty twenty five and live states for ballistic abuse. And it's only been for the shirts business not for anything else that will come before twenty twenty three in comparison. If you look at what happened without about not just like stopping anthony from one day to the next therapy ipo. It took less than four months to slap a two point. Eight billion dollar fine on the company and open them up to to sharing data. And so i guess i i see this differently than when i through all my own my notes here from twenty nineteen i typically for these muslim. Meaning cy a typically prepare between eight and twelve pages. Luckily i don't go to them. Because i think people would be bored but like i'm just at the time riding sworn thinking. This is the outlook i remember. One of the one of the things i wrote was there by. Bob has significant advantage to the you ask because they are allowed to collect data and they can collect more them and they will cooperate for the chinese government so they would a leg up because it's global power play to be the front runner in for instance and now i think differently about it. I still think that you know. Obviously the chinese goldman were still collect that data and figure out what to do about it. But i'm not sure that big tech in china have the same advantage as they used to think. I think they have the advantages in the sense that there are allowed to collect more data then the west. The individual company probably wouldn't have the same moat as a thought they would. Chinese companies aggregate probably still have remote compared to what's happening in the us simply to operate on the chinese market. You need to give green light different type of updated collection and two different type of ip. Which you don't have to do in in the states for instance if you come as a chinese company at least not yet so the chinese government just have an especially if there are forced companies to share them like they will merge one or two. How many winners who then figure out what to do with that with that. Data and so collectively might be an advantage for the individual company in this case at baba. I don't necessarily think that the abacha's is as big as i used to think when we look at this as investors we like. Yeah we we. Don't we might care about politics or whatnot will be going to to wear the values. I sorta like seed asked the the opposite of all the bats. You have this other bats. Which for bob would be something like ding ding for instance which is like a workspace ration- tool but like you can think of this as what you'll have with all these denied all that cool stuff where you would say. It's really difficult to value. What all that is worth the not generating too much revenue. How profitable be. They're actually just burning cash but it's probably has some l. u. weird if it didn't have any value so you might be willing to pay a bit more for the rest of the company who would probably need to understand in saint google's case you need to understand the appetizing space pretty. Well 'cause that's gonna make money in terms of search and i i would say to go back to baba just like i would pay more for the e commerce and cloud business because that's clearly going to be profitable and easy especially for the e commerce business of figured out what that's worth probably pay a bit more from that because of all the bets then i would also say our pay less because of these brickell regulatory pressures and so it's a bit more often science i think that's what the laid brunswick will call then known unknown with different even though it's it's an issue with tax and the these you're seeing right now. This being taped around. It's just too hard to tell. How bad would be when. I look where it has traded over the last five years this is about as cheap as it is traded of the period. I think the question is so much. It's optically cheap and you probably getting the right odds for a bit on it just continuing to do roughly what it has done or maybe just a little bit worse than that if it does that. You're gonna make up really well in this position. If they're on material changes to it then all bets are often hidden is. But i think it's a good opportunity potentially to grab something that is spectacular because the upside is is huge if it does go back to doing what it had been doing some of these other bits. Paying of the risk reward is good so the risk if anything has been priced into here and so. I think that it's a. I like the position. I like a few of these opportunities. Just for that reason that we're previously. They had a lot of a lot of you had to be right on. What the underlying business did because you're paying for it now. Evaluation is to the other side. You've got virginity. Nobody really knows what's going to happen but at least you sort of you can't even run. Odds take the bed you. I came up with this. What is it worth unless it between two hundred and fifteen hundred and fifty and you can really make an that brings just not not wide enough. But dude they're putting some numbers on how you look at the intrinsic value for baba. It's too hard. I do think that you can look at it on a on a ratio by cheap. It's been five years. It's clearly the underlying businesses spectacular mass. Pretend that creates growing incredibly quickly. They've got lots of little businesses that aren't even included in that still burning cash that might be opportunities down the road. All of those things like the cloud is very early is still in its. That's been a monster. Business in the ws and democracy substance. Well said i like the opportunity. The thing that you got to get comfortable with the regulatory regime that's true everywhere in the world service. One might be a little bit more arbitrary and a little bit more aggressive. But then you know. I think regulatory regimes glow pretty arbitrate. Pretty aggressive to oh boy. Yeah i definitely agree with that again. I'm trying to be my own devil's advocate not only with my good friend. Toby i actually tried to take myself down if i if i can. I guess one of the things. I look differently today in q. Three twenty two thousand one one to two thousand. Whenever i i built the initial position which was at the time i think it was in like seven percent or something like that so it was a quite significant that from what portfolio think. Well i looked at this. Differently was a really looked at them. Having this massive moat in ecommerce have this the own ecosystem. Like you have to go to sound off that it can be a moat that you have to go to the website. You can't find anywhere else. So let me just tell you a bit. Or what. Amoebae that. Because i do like called the google of china right. So what baba's doing it actually blocks by twos spiders from indexing of both and mall which is the two primary sites and so you actually have to go directly into the baba to to buy the whole ecosystem in round need to enter the ecosystem and then it's very easy to buy in this very convenient for you to to make any purchase and that also make search valuable that makes the advertising dollars go up really quickly because it's very efficient for you baba and i saw what tencent we're doing with their ecosystem and it seemed to me that it made sense. There will be like this too awfully and will be really hard to into that market and then pin doodoo comes in like in this year. The problem on jd dot com not more than eight by which is still a significant first bud light. I was surprised how fast that happened. And so i guess one of the concerns. I have with this pig still. I see great value but the concerns i have is just the disruption that she in chinese habits and how you know. I've never seen that coming with with pandora. Do so just one more thing to be office about a new gulf for if you want to to invest in this. Ask you one question toby about this because this has been like looks like a falling knife. It looks awfully whenever you look at. How the price has has moved here this year. I read this book by steven schwartzman thing. That book was called what it takes. And he's talked about billing blackstone and talked about how made money in blackstone talked about how he would never catch a falling knife he would always look for the button then want to see at least a ten to fifteen increase from anybody before he would make a position because otherwise could really ugly and you will pay a high opportunity costs from having to wait even if you think intrinsic value is is on your side. Do you think there's anything to that is that something looked into at all. Just.
"carlisle" Discussed on We Study Billionaires - The Investors Podcast
"Build position ten percent but also let it run if for ride on that big and so it also realize now that i'm putting myself where i would lose some of the potential upside in not putting more than ten percent into one pick as human that was it was the right one. Well i would also lose some of that just from not being. Warren buffett occurred investor. Because that opportunity cost for me is much more expensive. Not because i can't make more buff returns. But because i can't pick the same stocks and so i was like okay. Let's say let's say worst case five percent. Okay you lose five percent third percent of your portfolio one point five percent losing every single year. I guess a sore like i'm looking inflation and sorta like wire. I'm now thinking about opportunity cost in. I'm missing out some of the best gains but not being as aggressive as it used to be but also feel that it's been quite profitable by by always being invested. And of course you can knock you well. you know. The last four years won't be like the next four years but just from doing that. You know that's one point five percent assuming that's you have five percent inflation and the maga had a lot more than that so that'd be fruit or to you again. That does make sense to me in a sense that. Yeah so you've got this one point. Five percent of whatever cash holdings being purchasing power of that is going down. Year-on-year let me think about says that the loss spin a very long time since we've had a genuine market and the market is expensive at the moment. It's a historically high. The really the only times it's been hot misses the dot com boom all right at the very top lost few months. Where thirty nine. I think on a shila p last time i looked in his high forty four the very piquancy thousand and then market didn't do anything for a very long period of time so having said that i've done lots of testing about what strategies tend to work carrying cash just does tend to reduce your tense just to the extent that the lower your exposure to the market. Whatever retenue getting you're going to get a low return than that over time and you're assuming that you can deploy it ole on the market goes down you. Have you know. It's scary when the market goes down like that you'll have the presence of mind and the fortitude to get fully invested. I just find myself that. I don't have that. And so i have a different approach to money-management to holding money waiting for those sort of times. Run short book as well as long and carry some cash and just by virtue of the fact that one side of the book is working on one side of the book his i'm always rebalancing towards the thing that's not working. I'm putting more money to work. I've along little short as the mocks meeting. That's how i sort of get round. But i have some sympathy for that view that it really is an opportunity stolen cash particularly when the rights of solo previously in two thousand rights. Six percent. if you didn't want to participate in the mock at forty four times. Kate which the inverse of that is that two percent. You know you don't want to get a two percent you can go and get six percent in the ten year and that's something that tends to rally this crush you'll pay to wait and you had this tail risk protection holding now. That's a different story. One point three percent which is below the rate of inflation so you compelled to be exposed equities in that market. That's the explicit policy of the fed is to induce risk taking by investors which is why we have a stock market where it said and we have interest rates where they are. You can't get enough return from the safe stuff and you're forced into the market so that creates i think this sort of crazy behavior in the market. Where you've got these tokens and the nfc's most of the things on the east coast for being fully proven out. They may be one eventually at. This is where it stands now. I don't want to put my money into those things. When i can find a company that produces goods and makes a prophet generates free cash flow and ties it out to to show. That just seems to me like an easier way of doing it. Let's take a quick break and hear from today sponsor so growing up as a kid my father and mother just always wanted to teach myself and my sister abou- saving money and what was important and being able to save up for things that we really wanted to have and not just going out and spending money on nitin roy things. It really didn't matter so this is one of the reasons why i'm so excited about go. 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U. are s. i g. m. a. T. i c. Dot com slash billionaires and fuel your productivity and creativity with some delicious mushroom coffee. You guys know. I take my food and beverages seriously and i'm a big believer in the idea that you are what you eat and it really does matter where your food comes from. That's why my wife and are craving fish. There's no other place. We go to than the wild alaskan company. The wild alaskan company sources wild caught seafood from alaska and the pacific northwest. You can choose from salmon or whitefish or combination and every month. They have these different specials to explore. But they're always of the highest quality sustainably sourced wild cot and that's the key word wild cot seafood delivered right to your door. And don't worry you can adjust pause or cancel your membership at any time and they offer a one hundred percent satisfaction. Guaranteed or your money back. 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"carlisle" Discussed on Native America Calling
"Supports this program. This is native. America calling interrogate would and we are glad you're joining us today. We are celebrating the return of some relatives who lost their life at the carlisle indian school. A lot of efforts have been made to bring these relatives home. We're hearing some of that today. There's another chapter in all this to that. We're going to get to here in just a moment but again if you would like to join us one eight hundred nine nine six two eight. Four eight is the number With us today out of the rosebud. Sioux nation are. I own quigley as well as christopher eagle bear Both of them had role in making sure. These relatives returned home If you have any thoughts them you can give us a ring. One eight hundred nine nine six two eight four eight. We now go to a caller who joins us today out of pagosa springs colorado Deborah is on the line tuned in on k. s ut debra. Thank you for giving us a ring your air. yeah they have been th that'd be She shown on managed as a achieve gene so I just wanted to really give a thank you to the people involved in these East children home. I think with a lot of nations. Your are facing the same prospect of getting some of these children home to To their birthplace. And it's true about their their umbilical cords. No that last part that falls off is buried where they were born and The process of bringing them home. You know and putting them away is to take them back to their home and and put him away in a good way like that so My parents were A product of the The a boarding school like That was in. Brigham city utah They called it the five year program and there was some they were taking their when they're about five and seven right right about the age when A lot of these cultural traditions are being taught to them We're didn't ask so. And and so there i live in colorado but i know of Another indian school Keller ordinance cool and how it was brought out some on on in a report. And as i read that and i understood what my parents went with that type of the boarding schools and So now we're with Colorado these boarding schools and we're we're invited to go to a meeting in work lewis in reference to some. Some of these children were falling found at some of these boarding schools that are buried there and for the knee. I'm donny and it's it's it's so important that this news about how or this information about how the people have brought their children home is the process of even looking into being. You know our even our children home And i just wanted to give them a really big thing q. And just keep on going with that and and get the information out there and this is the process to look into to to bring in our children back home debra. Thank you for reaching out. Thank you for your call. We now go to at aline. Who is in white swan. Washington tuned in on key white in our ethylene. Thank you for giving us a ring. You're on air. Yes hello hello adalina. looking forward to hearing what you'd like to share go ahead. yes I was in a boarding school for ten years. I'm no seventy pools. I think and i was in school for ten years. They took me away from me on my family. My sisters and my brothers took me away from our mum. Our dad had died railroad track accident. And then i don't know who knows why but anyway. I was in michigan indian residential school. That's in michigan. City british columbia. Hello and i hear you. Aniline in knowing that you are a survivor it's really important. Your voice is being included in this conversation. Today and anything else you wanna share glade owned yes Hi had a lot of i guess. Terrible experiences probably would be similar to death. I guess you know because sorry stuff for sexual sexual abuse and whole kit and caboodle. I didn't I try to run away from school twice. I think and of course both times got caught and my brothers were in. They were in the same school. I mission indian residential school and they kept running away try and go home to and so they sent them to a different school Up north post further away because of them running away To say a terrible experience. And i think i still suffer the consequences. Despite you know. I should have made because Some kind of a help. I guess to talk to somebody get ruined because i haven't gotten to it ethylene. I know i know exactly what you're talking about in no how how heavy. This is in indefinitely. If if you think that that's something you want to look into. You know just encourage you to keep on that path and reach out to resources in your area. Do wanna share a number that is shared at the top of the hour. The native american boarding school healing coalition is online and you can even call them to six one two three five four seven seven zero zero and i respect your story and align in really glad that you decided to call in just share Your thoughts today. My thoughts are with you in just wish you a lot on your own healing journey and commend you for the courage to share your story as well add a line. Think you for giving us a ring der out a white swan. Wyoming are washington tuned in on k y in our and it got one more voice to add to this hour. We now go to northern california on the line with us. As lauren peter's she's a phd student. The university of california davis studying native american studies. And she is other ado of king argo tribe of king cove alaska and she is also done ami Tribe of saint paul island in alaska in lauren. Thank you for being here with us today. interesting that you would start off with any thoughts on my first thought is to say goodbye to the rosebud sioux youth For their courage to stand up and and ask the obvious question right why. Why aren't children home. Children's still here and Opening up the gates that brought my relative home Who was born on. Saint paul island and with first stolen by the missionaries of for the methodist church and then sent on to carlisle. It's a four thousand..
Accusations of Sexual Abuse at Manitoba Residential School Investigated
"The royal canadian mounted police has confirmed. They have been investigating allegations of sexual abuse at a former residential school in manitoba as dan carpenter chuck reports. The investigation has been ongoing for more than a decade. The large-scale criminal investigation was launched in two thousand eleven into allegations of sexual abuse at the ford alexander. Residential school officers traveled to ottawa to review archives of the school and to the manitoba archives. For historical information they ended up interviewing more than seven hundred people across america in the search for potential victims or witnesses since then rcmp officers have compiled a total of seventy five victim and witness statements. Here's dan vandal. The federal minister of northern affairs. The i think the fact that there's an ongoing investigation is Is something that that is is is justified. And we know that there were crimes committed the ford alexander residential school operated from nineteen zero five to one thousand nine hundred seventy it was built on the ford alexander reserve which is now the sad king i nation last week. The first nation began searching the former school site for any unmarked graves. Police say they will not be. Providing any further information about their investigation meanwhile rcmp in saskatchewan of opened an investigation into a death that is alleged to have taken place at a children's home which was not recognized as a residential school but which housed former matey and first nation students for national native news. I'm dan carpenter took
Rosebud Sioux Tribe Brings Remains of Children Home From Former Boarding School
"The rosebud sioux tribe in south dakota welcomed home the remains of children who died more than one hundred years ago at the carlisle indian school in pennsylvania native youth and their mentors repatriated the remains from carlisle last week and escorted them home. A four hour. Service was streamed online saturday where people gathered at the tribes college quilts photographs and other items line. The front of the gym for each of the nine children brought home. The service included speakers songs an honoring before the remains were escorted out to the burial site by native youth veterans and the community. They were placed in graves in buffalo robes and buried on the rosebud reservation.
"carlisle" Discussed on That 80s Show SA - The Podcast
"Big. Finish that eighty show fun show today thou that we really can talk so much rubbish for as long as we need inspired by david hasselhoff and it's not done just yet just yet. What a nice article did we find. I think the chart savant barrett shared this with us. Belinda carlisle what a great interview. I don't know if you had the chance to read it. It is up on the. Let me give some holiday story. The first thing i read that upsets me is that there is a go-goes documentary floating around that. I have not seen how about that. So i have. Scouted is available on amazon. But i'm not sure if it's on our amazon prime and it's about the history of the go-goes and belinda carlisle talks about her life with the go-goes and a lot of her behind the scenes challenges and Thing they say here is that no female hottest has been as successful as the go-goes company. That yeah what about banana. Rama all we can houston or as as as a band as a bent. So i don't know. I'm i'm gonna look into that. I just scanned it. But i'm not going to be like okay. That's that's quite interesting She talks about her drug problems and says that she's saying you'd think of the bengals open on being up there anyway. I'm rambling care. Yeah so she talks about a drug problem. She says she loved acid until she tried coke and then she spent all her money on cook. She's just want this all the time. I love this exists though after she had Three years after the number one hit album. This is the gogos must of drugs close and of all things a racehorse which i can get behind binary source. You got all that money. And you like what i need to do. Something frivolous rot. What do you do and you know they say here not to glamorize it and i mean and then they go into a pair off the cameras it at a party for the band in new york lonzo manila and andy warhol tuned up rudd stood threw a party for them in rio caller spin. Much the not drive around the city looking for cheap cocaine and as rock. Legend has it. They partied so hard. That even notorious hellraiser ozzy osbourne wants threw out of his grace. And that is the claim to fame. Wow that's that is phenomenal stuff She also talks about her new album and are surprised to learn that she is living in I've just lost now. She's living in some very exotic bangkok bangkok of all places. A very nice interview. Give that read the charts of unseat something about us having conversation with belinda carlisle Hope he wasn't just being teasing little skimp because that would make me very excited speeder. Little black book does and what it did. Give us is This week we spoke to karen. Watts of Secret superwoman. she's being inside africa. Few towns with brian mcknight's hugely popular arts. Lovely lady she was. She was so great and calm. I mean she looks better now than she didn't and she looked damn good in the east so glamorous so cameras so glamorous and so is actually a really cool interview. Like i'll i was like well. I like like the songs and iron. But then. But i wouldn't call myself a big fan. But i'm a big fan. Because she was just such an amazing person. You'll your interview. We're play it out next week on. That eddie. Show sewed look for details about that on our facebook. Page that eighty show essay fund fund things happening on our facebook page into the dragon. Ooh what would it's been going around in a few groups but it is a how the music changes everything in. It is a scene from into the dragon with bruce lee and chuck norris and they're about to face off in a fight but instead of the original music they replaced it with a version of careless whisper and it is hilarious as the two of them are now taking the shirts off flexing flicking their hair. Just really i mean like music is really important in movies. Perfect i can. You had no idea. Just watch that you like and the finest australia to my husband who is a huge concrete movie man. He party washed into the dragon. One hundred times he loved his hills and will never look into the dragon again. Not the most. The most surprising thing about that scene is the men's chase it. I mean my god notoriously chuck. Norris is a very hairy man and that goes full. That's shoulders back. that's sides. that is full. Lots of red hair look chist. Wig looks so unreal a sock. He's wearing a furry jersey. That's it like chuck. Can you please take off your jersey precisely at seriously going to hamper Obviously i enjoyed what you posted as well Funny comic of Roy orbison roy salinas roy you roy orbison was new driver anywhere. You want Phantoms check it out all on. That show is on facebook. Karen white interview next week details on the facebook page any lessons from today. Show dory any lessons today show. Well i'm gonna have to revert back to chuck norris his chest here got flaunted even better before you eat it. You must beat it. Oh show as we should ended their by dari.
Indiana Pacers to Bring Back Rick Carlisle as Next Head Coach
"Have hired Rick Carlisle to return his head coach. He resigned from Dallas about a week or so ago after 13 seasons, and now we'll go back to Indiana for a second stint as the Pacers head coach
Pacers Hiring Rick Carlisle as New Head Coach
"Of hired Rick Carlisle to return his head coach. Carlisle resigned for the Mavericks about a week ago after 13 seasons. Will be Carlisle's second stances, the Pacers head coach and his deals for four years and worth $29 million. Here's ESPN NBA Insider Adrian Ward Janowski. No, this is a team you know that is an Eastern Conference playoff team, and I think with Rick Carlisle you have seen through his career. That he makes a dramatic impact, especially early with improving a team. This is a team that needs some order and structure back After really a lost season
"carlisle" Discussed on Bloomberg Radio New York
"Carlisle previously coached the Pacers from 2000 and 3 to 2000 and seven, making the playoffs three times and leading the team to the Eastern Conference finals in his first season. I'm Dan. Sportsmen that your Bloomberg World Sports Update Markets headlines and breaking NEWS 24 hours a day at Bloomberg Dunk. Com Bloomberg Business Out and Bloomberg Quick Take This is a Bloomberg business Flash. Everybody 17 minutes past the hour. We update markets for you every 15 minutes on Bloomberg Radio. I'm Brian Curtis in the Bloomberg Interactive Brokers studio in Hong Kong. Asian stocks are moving higher this morning. The Nikkei with gains of 8/10 of 1% The ASX 200 is up about 6 10 7% cost be around a third of a percent. Have a good day on Wall Street. From the standpoint that both value and growth rally most sectors were higher. Only real estate and utilities left behind today, and those losses were really not much to speak of. You mentioned a number of factors. The bipartisan infrastructure deal is one thing. Yes, there are some caveats to it. We're not exactly sure whether it can really move forward. But it is leading to more optimism that the economic recovery is taking hold. And if you look at the Nike earnings were very strong, with sales globally, almost double In the latest quarter, and Michael Sheriff's jumped 12% in after hours financials the best performing sector as they pass the Fed stress tests. Of course, financials will do well in an improving Economy too, and the fact that any deal could get done in that and in the Congress is is something that investors would certainly take no tough again. A lot of work to be done, but Is at least looking a little bit better. Tokyo consumer prices flat in June that halted a 10 month slide, and that's even with business restrictions in place. Analysts had expected 0.1% drop in those crisis came in flat. That's check of markets news is next. Here's Ed Baxter in San Francisco. All right, So, Brian, you have the ray of sunshine, the cloud that's hanging over his Nancy Pelosi speaker says.
Rick Carlisle Says He Is Returning to Indiana Pacers
"Find survivors, a familiar name is returning to the Indiana Pacers. ESPN is reporting that the team is hiring Rick Carlisle as its new head coach. He's been the head coach of Dallas Mavericks for the last 13 years and won an NBA championship in 2011. But before that, he was the head coach of the Pacers from 2000 and 3 to
Remains of Alaska Native Student to Be Returned to St. Paul
"The remains of an alaskan native student buried more than one hundred years ago. At the carlisle indian school in pennsylvania will return to alaska the us army starting the process to return the remains of ten native students buried at the school. According to a us army press release nine students from the rosebud sioux tribe and one student so fia titov is identified as valued so entered the school in nineteen hundred. One died in one thousand nine hundred six w itf reports. Sofia's remains will be returned to saint paul island. the school operated from eighteen. Seventy nine to nineteen eighteen.
A New Series From the Obamas Aims to Teach Civics Through Music
"To talk about and we have. Some sovereign is to change by her from the obamas. This is music new anime musical series. Do we the people. It's kind of a civics lesson for kids. Grownups it's got a lot of great music going with it. Let's hear a little sound. Here is said that changed by her here. It is go to address issues. Data speed keeps cheese when we say it. That's people at city council. So i love that by the way for other people named brandy carlisle than manuel miranda. Lambert goes online. A bunch of great musicians contributed to this and it talks about is that that saunders did about the the mayor talk about you know how many senators come from certain states voting rights all this kind of stuff which we have kind of fallen down the job on in school right. Yeah totally you know. What happened does sesame. Street did a lot of that. And then then it drops off you know and people forget the good points. The street had those little songs that teach how bill becomes a bill and all the rest of that stuff But this is a series called we the people that's going to be a series of ten music videos by powerhouses that you mentioned and they're very hip in happening for New generations of folk and even generations of folk. I do note that poet. Amanda gorman is also meeting which is good we note this this is. The show was by under their production company with a netflix. This production company and its chrisny was the originator their creator along with the obamas. But it's executive produced by. Tony davis preah sweatman ifan and kenya barris and kenya barris. People may know is connected to blackish and he's got a few other big Series like that. So it's really quite Well credentialed in terms of its creation. And you know the music is going to be good. So what a great idea
"carlisle" Discussed on OWL Once Was Lost Podcast
"Yvette. carlyle was born on august. Twenty eighth nineteen seventy-three and lived in chattanooga tennessee with her mother and brother nonni stirred avant and darryl stewart those who knew her remember her being a big fan of fast food and pizza and note that she would often spend her time listening to rap music with their favorite artists. Being bobby brown. At the time of her disappearance her family was living in the six hundred block of hamilton avenue. Her residents was approximately a twenty minute. Walk from city high school where she was a freshman tomato was last seen leaving city high school at approximately two fifty five pm on march sixteenth nineteen eighty nine five minutes later. She was abducted a kidnapping that was observed by witness according to the witness. She'd been on ruth street when she heard commotion on the street below near six hundred fifteen hamilton avenue and upon looking down the hill she saw several unidentified persons jump out of a tin and yellow van surrounded annetta and force her into the vehicle before pulling away concerned the witness and her husband jumped in their car and the ban while they were unable to keep up. They managed to grab the license plate. Number two is at tennessee license plate l. k. h. nine to zero and relay the information to the authorities. Eight hours later nonni called nine one one to report. Her daughter had not returned home from school. A missing child report was filed. Unfortunately the report and the call about the abduction were not connected until two days later when the authorities realized a live. Just a half block away from the abduction site. The license plate of the vehicle involved internet's abduction was eventually connected to a man. By the name of jeffrey jones. He was a convicted rapist. Who had served eight years in prison on charges of rape and aggravated sexual assault. He was released a year before was kidnapped and it was later determined. He'd raped a woman in his apartment. Complex just two months before the teenager was last seen the day. Investigators went to speak with him which was march. Eighteenth nineteen eighty-nine. They found him deceased in the van with the cause of death being suicide as a result of carbon monoxide poisoning. He left behind no note after locating the van. Three hundred police officers bloodhounds. Deputies and volunteers combed the area around the jones apartment complex but found nothing related. To the case there have been various rumors and information received around the theory that tenaga was forced into prostitution and taken to california having fallen victim to a trafficking network operating out of the state. The chattanooga police department reached out to the sheriff's office but were unable to find any evidence that had been transported out of tennessee there were numerous sightings of the missing teenager across the country including in minnesota where people thought they'd seen her at different supermarkets. There were also unconfirmed reports that she'd been spotted at a housing project in chattanooga the national center for missing and exploited children has released chee different age progression images of tornado over the years in august. Two thousand and nineteen the chattanooga district attorney announced that the police departments cold case unit would be reopening to is case he shared. Investigators had eliminated. Some of the theories brought forward in the initial investigation that the focus had been moved towards jeffrey jones in case to remains are located new. Dna samples have been taken from her mother and brother nonni criticized a police investigation saying investigators should have started looking for neta as soon as they received or nine one one call rather than waiting until the missing child report and the report of the abduction were connected. She believes her daughter was killed by jones and buried in an undisclosed location. So in the aftermath connecticut's case was featured on america's most wanted in august two thousand nineteen to celebrate what would have been to net his forty six th birthday. Her family and friends gathered in chattanooga's coolidge park to release balloons in her honour. Known has never changed her phone number in case to annetta tries to call her tonette. Carlyle was last seen in chattanooga hamilton county tennessee on march sixteenth nineteen nine. She was fifteen years old and was last seen wearing a pink and white striped blouse a denim skirt and white sneakers at the time of disappearance. She stood at five foot one and weighed approximately ninety. Five pounds. She had curly black hair. That was trimmed short on the top and sides and longer in the back and she has brown almond shaped eyes. Her ears her peers. And it's been noted that several of her teeth or capped and or have fillings. the vehicle involved in a reduction is a yellow and tan van with the tennessee license plate l. k. h. nine twenty. It was register to a man named jeffrey jones. Currently the case is classified as a non family abduction. If alive she would be forty seven years old those with information regarding the case or asked to contact the chattanooga police department at either four two three six nine eight to five to five or four.
Dallas Stars Coach Rick Bowness Leaves Game Due To COVID-19 Protocols
"The story last night half of the Stars game stars lose. To the Carolina Hurricanes. One Nothing with the story of this one. During the second intermission of the Stars one Nothing lost. The Stars coach Rick Bonus was pulled from the game placed into the cove in 19 protocol because they received a positive test result. Assistant coach John Stevens assumed the head coaching duties for the third period. The general manager Jim Neal, said the bonus was vaccinated in January. Whether they hope that his result is a false positive. Kind of like with Rick Carlisle went through the man. Yeah, they said the team was consult. They consulted with the league about playing the third period, but because of his status It's fully vaccinated and the very low grade of test result. The game continued. Makes you think that they think it might be it. Of all spots. Yeah, I hope it
Doncic guides Mavericks over Knicks
"Look look at at Dodgers Dodgers scored scored twenty twenty six six points points and and the the Mavericks Mavericks are are in in their their third third straight straight win win by by downing downing the the Knicks Knicks ninety ninety nine nine eighty eighty six six somebody's somebody's gonna gonna win win ugly ugly yeah yeah I I mean mean you you got got to to win win ugly ugly I I mean mean that that means means when when things things don't don't go go right right are are you you gonna gonna step step will will be be together together and and win win the the game game the the Mavericks Mavericks were were without without head head coach coach Rick Rick Carlisle Carlisle for for the the game game after after testing testing positive positive for for the the corona corona virus virus the the sixty sixty one one year year old old Carlisle Carlisle says says he he has has been been fully fully vaccinated vaccinated since since January January and and was was hoping hoping it it was was a a false false positive positive Jaylen Jaylen Brunson Brunson had had fifteen fifteen points points for for the the mavs mavs won won more more than than Kristaps Kristaps porzingis porzingis and and Tim Tim Hardaway Hardaway junior junior scored scored against against her her former former team team Alec Alec Burks Burks scored scored twenty twenty points points to to lead lead the the Knicks Knicks who who have have lost lost three three in in a a row row I'm I'm Dave Dave Ferrie Ferrie
What's happening in the markets right now?
"Kyle west gray. And jake taylor a joining me for investing mosman group here in q. One it's always great to speak with you and even better to speak to all you have the same time so welcome to the show. Gin's thanks for having us guys. Thanks so i'm sure the audience really going to enjoy this station. And what you guys see in the financial markets right now. Toby whereas and i wrote a book of fairy long time ago now. It's almost a decade since it came out and that's pretty good explanation of sort of the underlying process which is like the screen basically and then under a few things on top of that. I think the most interesting thing in the market at the moment is kathy would and ach. Etf's you might remember. In the early dot com days those funchal janus and the head break performances go great flows like a of flaws as a result and they were focused on smaller quid. Take names said janus had these gripe flows into these very illiquid stocks and they degrade performance as a result and it was probably van driving up. The performance of those stocks has been a similar argument made about ach that they tend to focus on smaller. Non-profitable take stokes and Sorta gigantically big of the last few years. It's now sort of a third or fourth biggest. Ats show out there that flows now that go into these small illiquid tech stocks of they control prices of these textbooks. Had this little wobble of the last few days colson redemptions for them which may cause them to do some selling as well they also have been exposure tasteless I just think that that's the driver of the market at the moment is potentially getting some redemptions having to sell out of some of those stocks which will push an the names and a very sort of beholden to what tesla Much big stuff. But it's still quite volatile. Hasn't made a great deal of money and so there's some risks that creates Cascade selling an odd gets coordinated. And then i didn't know what that does to the rest of the market. That seems to me that there's a lot of money in tessler knocked is fairly new money. Little be sensitive to what happens
"carlisle" Discussed on American Revolution Podcast
"Also thanks to everyone who has made one time contribution speaking of pay pow or van mo. All of your support really helps this whole thing to keep going this week. We looked at the carlisle peace commission which was really an all out effort to end the war. The big question from all this is why were the british so willing to give up on all the reasons that they had for starting the war in the first place successful monarchy's know when to take power and went to give power if akin can take land wealth or eliminate a faux without risking his power. He will if he finds himself at a situation where ceding power will smooth things out. He'll do that. It's a sort of wheeling and dealing and power that saw the rise and fall of so many families in the middle ages before the revolution british leader's thought they could get away with imposing more restrictions on the colonies with the clear and game of extracting more wealth from those colonies for the leadership in london. By seventeen seventy eight. Those leaders had recognized that they'd overplayed their hand. They were at risk of losing. Not only the colonies in america but many more valuable colonies in other parts of the empire. Because the french monarchy smell british weakness and was prepared to take wait could from britain. British leaders were essentially willing to give up on all the power grabs. They had attempted on the colonies since the end of the seven years war because despite not collect any real taxes from the colonists the relationship back then was a good one. For britain london controlled the terms of all trade from the colonies meaning. British merchants in britain could get cheap resources. Colonies could not sail around the world looking for the best price. They had to take what they could get in britain. There were massive more benefits to this trading relationship where one side gets to control all of the trade rules much more benefits than they could probably ever get from taxes so the carlisle commission was trying to help the ministry reestablish that valuable trading relationship by giving up on its claims for taxes they also hoped that happy colonists would once again support britain against france also important for the balance of power in europe. The problem was that the british had already overplayed their hand. The colonists no longer trusted them on the issue of taxes. Whatever promises lended made in seventeen seventy eight regarding power-sharing and no taxation might just as easily disappeared some future time when britain had the upper hand. Also by this time. The colonists were viewing britain as a bit of a paper tiger. The regulars look scary but they could not assert any control over more than a few cities especially now with a french ally. American saw no reason to go back under britain's rule. The opposition in parliament had accepted that the ministry overplayed its hand it wanted to grant independence as a sure way of cutting its losses at this point and moving on..
"carlisle" Discussed on American Revolution Podcast
"Parliament began debate on the conciliatory laws and authorization for the peace commission in mid february a few weeks after it actually returned to business by early march both the house of commons and the house of lords had proved the bills and the commission. They're relatively speedy approval of the plan. After about three weeks should not belie the fact that it was quite controversial within parliament. Many conservative tories thought that the ministry was essentially giving up on the war after a minor setback at saratoga and was surrendering to all the colonial demands at the same time radical. Whigs thought that the reforms and the commission did not go far enough leader of the opposition lord rockingham recommended during debates that the commission be empowered to grant independence to the united states rockingham and his faction believe that these were the only conditions that would end the war immediately. This would allow britain to negotiate a favorable trading relationship with the us and might successfully short circuit a war with france. Even a france did still go to war. With britain. The us would not be france's ally. The radicals were even calling for lord. North's resignation. They felt that the americans needed new leadership to accept a real change in policy. The call for american independence began with a few radicals but as parliamentary debate continued. The war with france began concerned about the war with france led the pro independence movement within parliament to grow conservatives. Had to convince the dying. William pitt lord chatham to return to the house of lords to make a final speech in favor of holding onto the colonies. Chatham called the independence. Of america the dismemberment of the monarchy chattan would actually die a few weeks after the speech but his speech was effective in forestalling. Any continued debate over recognizing american independence. Even as parliamentary debate on the commission was getting started in february lord north sought to have eaten serve on the peace commission that would go to america.
"carlisle" Discussed on American Revolution Podcast
"Low and thank you for joining the american revolution today. Episode one eighty six the carlisle peace commission a couple of weeks ago. I covered the british as they sent. General william how back to london following a big party in philadelphia. A couple of weeks after how departed another ship. The trident arrived in philadelphia from london on june. Six seventeen seventy eight. It carried a group of peace commissioners. The three commissioners led by the earl of carlisle arrived with substantial bargaining power from london. Hoping to at long last bring this rebellion to an end over the winter of seventeen. Seventy seven seventy eight following news of the capture burgoyne army at saratoga political leaders in london feared that perhaps they really underestimated the military capacity of the americans. Perhaps a political compromise could resolve this matter. Many british leaders believed that speed was of the essence. London was already receiving word. That france was seriously considering entry into the war through a military alliance with the united states. Britain's bargaining power would be much greater before that happened parliament however went on recess in december shortly after word of the defeat at saratoga arrived in london and would not meet again for six weeks. Members debated a short recess to deal with events that were quickly developing into war with france the members however voted to retain their extended recess and put off any decisions the following year. When parliament returned on january twentieth. Seventeen seventy eight. The north ministry was ready to get to work. The ministry got parliament to support the taxation of the colonies. Act of seventeen seventy eight. In that act parliament repealed the t- tax it also disclaimed the declaratory act which had maintained parliament's right to tax the colonies going forward. Parliament would only levy tariffs related to the regulation of trade and never to raise revenue. This was exactly what the patriot leaders have been demanding about a decade earlier the bill also repealed the massachusetts government act. This was the seventeen seventy four law that altered massachusetts colonial charter to reduce the colonists power of self government and it was one of the main reasons that the colonists had taken up arms at lexington and concord back in seventeen seventy five. The ministry also got parliament's approval to send a commission to america to make any further necessary concessions and hopefully reach a peace with the colonies. If london could give into demands that had originally started the war perhaps they could reach this political settlement before france entered.
"carlisle" Discussed on Bob Ryan & Jeff Goodman NBA Podcast
"I'm sure Kobe Bryant was was a lot like just too but as as as time moves along, you know, the the level of growth is really there and in all areas from Skillet. I meant to to leadership on the floor in games and practice. Convention Larry I had to get to it with because of the skill set comparison the division the creativity that that Luca has them. You know, now you play with Larry at its peak. Absolutely when you came to the team Larry was in the midst of winning going to winning three straight every piece. He was at the peak of his game before his back set in an elbow and all that good stuff. So comparison in terms of what they bring to the game what they see what what they have to offer to the game of basketball Luca and Larry. Yeah many similarities thumb, you know, a a sort of savant Simplicity level of thinking seeing things before they're going to happen, you know, both guys have the characteristic of at times becoming bored with the game and and getting into a getting into a club. Chat mode just to try to break up the monotony, you know, which is a little challenging at the beginning of our season this year with with the difficulty of our schedule and the fact that he's Luke has been catching up a little bit conditioning wise but you know, the the the great players that have the skill that have the vision that have the body type a look Larry Bird could have been a point guard in the NBA, you know and at six 9 almost 6:10. He was the prototypical perfect power for a perfect small forward, you know in the in during the entire eighties and a little bit into the nineties and each kind of changed over to the four position. But you know doncic is a good choice six seven, you know without shoes on he is, you know, phenomenally strong quick and fast, but he is Big Ang. You know people that were looking at film on him from Europe and trying to trying to try to judge his level of physical ability and stuff like that. We're we're looking at game where he's playing against the the international caliber athlete which is, you know, a notch or two or sometimes three below NBA athlete and so there were a lot of people that weren't convinced but he gets anywhere he wants to on the court and he just has the ability to make something out of nothing which.