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A highlight from 1406: Bitcoin Will Hit $4 Million, Rising 100x - Peter Thiel
"In today's show, we'll be discussing Bitcoin Bollinger Bands hitting a key zone as Bitcoin price fights for $27 ,000. In breaking news just in, Bitcoin hash rate hits a new all -time high. Let's go. And quoting Stacey Herbert, Bitcoin is pumping on the news of President Bukele's speech to the UN tonight. Can't wait. We'll also be discussing Bitcoin Adoption Fund launched by Japan's $500 billion Nomura Bank. That's right. The Bitcoin Adoption Fund will have long -only exposure to Bitcoin and be available to institutional investors. We'll also be sharing Sam Bankman, Fried's father, dragged his mother into an FTX US salary dispute. You can't make this stuff up, folks. Also in today's show, Bitcoin gearing up for a post -having parabola, according to crypto analysts. I'll be sharing his very bullish all -time high target. We'll also be discussing crypto asset market cap should explode 5 to 10x during the next bull cycle, according to investor Raoul Pal. I'll also be sharing Peter Thiel's $4 million Bitcoin price prediction, and we'll also be taking a look at the overall crypto market. All this plus so much more in today's show. Yo, what's good crypto fam? This is first and foremost, a video show. So if you want the full premium experience with video, visit my YouTube channel at cryptonewsalerts .net. Again, that's cryptonewsalerts .net. Welcome everyone just joining us. This is pod episode number 1406. I'm your host JV. And today is September 19th, 2023. We have lots to cover as usual. Massive shout out to everyone today in the live chat. Please let me know where you're tuning in from. And at the end of the show, I'm going to be reading everyone's comments out loud. Let's kick off today's show with our market watch as we do each and every day, the entire crypto market back in the green with Bitcoin back above $27 ,100 and checking out coinmarketcap .com, the current crypto market cap on the climb at $1 .08 trillion with roughly $27 billion in volume for the past 24 hours, Bitcoin dominance at 49 .2 % and the Ether dominance at 18 .4%. And checking out the top 100 crypto gainers of the past 24 hours, we have TonCoin leading the pack up 5%, trading at $2 .57, followed by GMX up about 5%, trading just under 36 bucks, followed by Conflux up 4%, trading at $0 .12. And checking out the top 100 crypto gainers of the past week, virtually 95 out of the top 100 cryptos are in the green. Some of the top gainers include GMX, GRT, as well as CRV and NEO. And checking out the crypto greed and fear index, we're currently rated at 46 in fear, same as 37 in fear. So there you have it. How many of you are pretty stoked for this most recent pump? And how many of you agree with Stacey Herbert that this pump is due to Bukele's speech scheduled for this evening? Let me know, fam. And now let's dive into today's Bitcoin technical analysis. Check out the charts and what's popping with the king crypto. Bitcoin could see fresh upside volatility as the price action and the strength revisits a key level according to a classic metric. In a new post, John Bollinger, creator of the Bollinger Bands volatility indicator, says Bitcoin was positioned for a breakout decision. That's right. After hitting new September highs the day prior, Bitcoin has been challenging resistance levels out of reach since mid -August, according to data from Cointelegraph and TradingView. Now for Bollinger, the signs for Bitcoin are encouraging. Bollinger Bands use a standard deviation around the simple moving average to determine both the likely price ranges and volatility. And as Michael Saylor once said, volatility equals life force. Now, currently Bitcoin is putting in daily candles that touch the upper band. And when this happens, it can signal an imminent reversal back to the center band, or conversely, an inbound fit of upside volatility. Now narrow Bollinger Bands seen on Bitcoin recently lend weight to hopes that the latter scenario will now play out, quitting him here. And then there is the first tag of the upper Bollinger Band. After the new set of controlling bars were established at the lower band, he commented alongside this chart, the question is now, can we walk up to the upper band or is it too early to answer? What are your thoughts, chat? Let me know in the comments below. Now Bollinger characterizes the current mood among seasoned Bitcoin traders and analysts on the short -term timeframes. Despite the strength seen this week, caution abounds as various trend lines previously acting as support remain above the spot price. Now discussing the situation, we had on -chain monitoring resource, material indicators share the following. We have heavy technical resistance overhead at the key moving averages and support at the lower low. It is quite possible that we round trip the range. And with any luck, we'll see a legit test of the RS levels that will give us some clarity on where Bitcoin goes from here before the end of the week. And they also shared here in update number two, as noted earlier, it appears the Bitcoin bulls are gaining some momentum, but things are not always as they seem and goes on to share that sometime after last night's candle and close open, we've seen a new trend precognition signal develop on the daily chart and it seems to be bullish. I mean, we are breaking out. We are above 27 ,000. So let's freaking go. And also more strong foundation on the technicals. You can see Bitcoin hits yet another all -time high, which virtually means the network has never been this strong and this secure. Now I'm pretty stoked to tune into President Bukele's speech to the UN this evening. What do you think he has to share besides? I told you so. Let me know, fam. And again, welcome to everyone just joining us for the live show. Lots to continue to cover. So let's continue breaking it down. Next, let's discuss this adoption fund, which is a pretty big deal coming out of Japan. Let's go check this out. Japan's largest investment bank, Numura's digital asset subsidiary, Laser Digital Asset Management, launched the Bitcoin adoption fund specifically for the institutional investors. Bring it. The official announcement noted the Bitcoin -based fund will be the first in a range of digital adoption investment solutions that the firm plans to introduce. Now Numura is a Japanese financial giant with over $500 billion worth of assets, which basically that's half a trillion, baby, offers brokerage services to leading institutional investors. The Bitcoin fund launched by its digital asset arm will now offer investors direct exposure to BTC. The Laser Digital Bitcoin Adoption Fund offers long key exposure to Bitcoin. The financial giant has chosen Kamanu as its regulated custody partner. The Bitcoin fund is a portion of Laser Digital Fund's segregated portfolio company that has been registered as a mutual fund in accordance with the Cayman Islands regulatory authority. Now, Laser Digital Asset Management head Sebastian said the Bitcoin is one of the enablers of this long -lasting transformational change and long -term exposure to Bitcoin offers a solution for the investors to capture this macro trend. Now, the Bitcoin adoption fund might be the first of its kind launched by Numura and the digital asset arm, but the Japanese investment banking giant has been investing in the digital asset ecosystem for quite some time already. In fact, September of last year, the firm launched its digital asset venture capital arm to stay at the forefront of digital innovation. And also won Dubai's virtual asset regulatory authority license to operate in the country. The long -only Bitcoin adoption fund for investors in Japan comes amid a growing discussion around Bitcoin -based investment products from regulated and mainstream financial giants. The United States SEC approved two Bitcoin ETFs, even though there is a delayed decision specifically on the spot. Bitcoin ETFs. What's up with that, Mr. Gensler? Just saying. And apart from the US, Canada and focused investment products over the past couple of years. So there you have it, mass adoption, let's freaking go, especially on the institutional level. How many of you are in Japan? I know we have some in our audience out there. Let me know. And have you ever heard of this company before? Any plans in investing through them? Let me know how you guys feel. And now let's break down the latest. It gets more surprising and shocking every day with what all is going on with Bankman -Fried and FTX. Now his parents are involved. His parents are being sued by FTX. And it's just a nightmare of a mess, to say the least. So let's break down this latest story regarding SBF. Now, Joseph Bankman, the father of the former FTX CEO, Sam Bankman -Fried, complained to his son about the salary he was receiving during his employment at FTX US, turning the issue into a family matter. In a September 18 filing with the US Bankruptcy Court for the District of Delaware, FTX debtors filed a complaint against Bankman and Barbara Fried, alleging that SBF's parents misappropriated millions of dollars through their involvement in the exchange's business. And according to the court documents, Bankman's contract with FTX US should have provided a $200 ,000 annual salary following a leave of absence from the Stanford Law School in December 2021. However, Bankman seemed to express ignorance about the terms of the contract, claiming to both FTX US and his son that he was expecting a $1 million annual salary. What about all that property in the Bahamas, fam? What about all that? Hundreds of millions worth of properties? Just wanted to throw that out there. The complaint states that Bankman was putting Barbara on this, suggesting that SBF's mother may have been able to persuade her son to follow through with the salary change. Things get even more interesting. So according to the complaint, Bankman's influence paid off, with SBF later providing his parents $10 million from Alameda Research. Can you talk about commingling? A 16 .4 million property in the Bahamas, funded by FTX Trading, the ability to expense roughly $90 ,000 to FTX Trading on the island nation in the Bahamas, and options to purchase company stock. Now, when reached out to the legal team representing Bankman and Fried, but did not receive a response at the time, unfortunately, the legal action brought by the debtors was the latest in the bankruptcy case involving FTX and many of its subsidiaries filed in November of last year. Bankman Fried also faces 12 criminal charges to be spread across two trials, starting in October of 2023, which is right around the corner, fam, and March of 2024, right before the halving, scheduled for April of next year. And since the federal judge revoked his bail in August, Bankman Fried has been largely confined to the Metropolitan Detention Center in Brooklyn. Where's Brooklyn at? Before the start of his October trial, then on September 19th, a three -judge panel heard an appeal from SPF's legal team requesting the former FTX CEO to be released from jail in order to prepare for the trial, citing the lack of internet access and first amendment issues. All I got to say is this, I mean, how many people realistically have access to the internet in jail? Why should he? Million dollar question right there. But what are your thoughts, fam? How do you think this is likely to play out? And do you think that Bankman Fried's parents are just as guilty as SPF himself with the commingling and the fraud of going up north of $30 billion, making it the biggest scam in history that we're aware of? Hence why we call him Mini Madoff, because he made off with billions of dollars worth of investors' money, and Gary Gensler and the SEC was protecting him behind closed doors. So it's going to be very interesting to see how all this is likely to play out. Now let's discuss post halving. We all know there is a halving scheduled roughly six months out. We all know post halving, the price action is most likely going to reach a new all -time high and enter price discovery mode. Well, this analyst shares a very intriguing target. So let's break this down, shall we? And welcome to y 'all just joining us. Say hello in that live chat. Let me know where you're tuning in from. I stream live here seven days a week from Puerto Rico. Synonymous analyst Rhett Capital tells his followers on X that Bitcoin can rally above $80 per ,000 coin in the months following next month's event. For the halving, send it. Let's go. The Bitcoin halving cuts the Bitcoin miners' rewards in half, as we all know, expected to take place in April of next year. And while Rhett Capital is a long -term bull on Bitcoin, he notes that it is possible for Bitcoin to continue its downtrend before the halving, putting him here. Hang in there and make the most of any deeper downside in this pre halving period. You won't see the post halving parabola in the outlines here in this chart. It shows you in the yellow, the pre halving period, then in the pink, the post halving resistance, and then in the green, you can see the post halving parabola when we hit those new all -time highs. Now, Rhett notes that Bitcoin may repeat its 2019 bear market cycle when it traded within a triangle pattern before breaking out and starting off the bull market, as he shares here, if Bitcoin continues to form lower highs, could Bitcoin fill the CME, which is the Chicago Mercantile Exchange gap, at $20 ,000 later this year or in early 2024? So it makes a good point. There is currently a gap sitting at that $20 ,000 psychological level. And he continues, if so, the possible path could be consolidation to the apex of the black triangle before finally breaking out to close the halving. And you can see that triangle right here in this chart. Now, looking at the chart, he seemed to suggest that Bitcoin will confirm the triangle breakout in April of 2024, followed by a rally towards his long -term target. Now, let me know your thoughts, chat. How many of you agree that Bitcoin is likely to break out to a new all -time high, entering price discovery mode in 2024, the year of the halving? Let me know. And what are some of your targets? I'd also like to point out that the Stock the Flow model and Plan B, creator of that model, he suggests a $100 to $1 million range price for the King Crypto post halving. We also have some very other bullish predictions, which I cover on a daily basis here on the channel. But I'd love to know your personal prediction. I think we reached the cycle peak personally sometime in 2025, but I think 2024, we enter that price discovery mode. But I'd love to know your thoughts and your opinions in the comments right down below. And now let's break down our next story of the day and discuss the latest from the macro guru, Raoul Pal, who is suggesting that the Bitcoin market cap and crypto market cap as a whole does something between 5 and 10x for this upcoming bull cycle. Now, you do the math. We have a crypto market cap right now. I'm going to ballpark it at a trillion. We have a Bitcoin market cap. I'm going to ballpark it at a half a trillion, which is 500 billion. So hypothetically, if we were to 10x Bitcoin in and of itself, we're talking about a 5 trillion dollar Bitcoin market cap, which would be half the current market cap of gold. Now, with the entire crypto market cap, we can potentially hit 10 trillion. Now, also note, back in November of 2021, when we hit that all time high of 69 ,000 in November of last year, the total crypto market cap was just north of that 3 trillion dollar market cap. So he's so let's break this down and shout out to Raoul Pal. Here we go. Former Goldman Sachs executive Raoul Pal says the next bull cycle can bring an explosion in the market cap of all of the digital assets. That's right. In a new interview with Altcoin Daily, the macro expert says he expects a huge increase in the adoption of digital assets, and that can cause the total market cap of crypto to skyrocket as much as 900 % from its current value during the next bull market. Quoting the analysts here, obviously, I think we'll go well through new all time highs. I think the whole ecosystem of crypto will go from 425 million users where we're at today. And I think at the end of this cycle, there'll be a billion users by that kind of use cases in which we have talked about. And let's not forget, we have got central bank digital currencies that are known as CBDCs and stable coins. There is a lot going on still. So if this entire space is going to grow 2 .5 X in the number of users, well, the market cap of the entire space is five or 10 X. Send it. Let's go. Pal also says he is closely watching development of layer two Altcoin projects for new use cases, which could boost the value of their individual market cap, quitting him again. And then let's see how people value layer twos in this. We don't really know how layer twos accrue much value. Do we have to have a massive amount of transactions in which case then you need stuff like Ticketmaster with millions and millions and millions of transactions to drive value to those chains because they batched them and batched them down to Ethereum. So there you have it. And to watch this interview, he did Raul Pal, the macro guru with Altcoin Daily entitled best cryptocurrency investing strategy into 2024. Check the show notes, blow the video in the description and let me know your thoughts on his personal prediction. Do you feel post having that the market cap for the entire crypto market can likely 10 X from the current valuation along with Bitcoin surging 10 X to roughly a five trillion market cap? And hypothetically, if the macro guru is correct, where do you think that would likely take the Bitcoin price? Well, let's run some hypothetical math. Bitcoin was the 10 X from the current price action of 27 ,000. Well, that's $270 ,000 per coin. Take that. And as we all know, Bitcoin rises like that, the entire crypto market cap would go along for the ride, including the altcoin. So please let me know in the chat, fam, which altcoins, if any, are you most bullish on in the crypto market? And what are your thoughts surrounding Raul Pal being so bullish on Solana? A few months back, I read in an interview he shared that 80 % or more of his portfolio was specifically in an altcoin called Solana. So I'd love to know your thoughts. Obviously, he has a high risk tolerance as I look at that particular cryptocurrency to be very risky, especially with all that went in with the venture capitalists and SPF and FTX exchange pumping that particular all. So I'd love to know how you feel regarding all of that. And with that being shared, fam, now let's discuss Peter Thiel and his $4 million price prediction, as well as rumor has it, and I'll be covering this as well, that he dumps most of his Bitcoin position at the top of the market practically 30 days before the crash. So let's break this down because Peter Thiel was actually one of the keynote speakers at the Miami Conference for Bitcoin. And here's what he had to share as I transcribed his speech, and then we'll discuss him reportedly making $1 .8 billion cashing out on his eight -year bet around the time he was touting these all -time high predictions. So here we go. He says, the enemy's list is a list of people who I think are stopping Bitcoin. He says there is a lot of them. They tend to have nameless, faceless bureaucratic perspectives, which of course is one of the ways they hide. He goes on to share, we are going to try to expose them and realize that this is sort of what we have to fight for Bitcoin to go up, 10x or 100x from here. Now, just FYI, to give you some perspective, at the time he made this prediction on stage at the Bitcoin Miami Conference, Bitcoin was trading at roughly $43 ,000 per coin. So you run the math. 43 ,000 times 100x is over $4 million per Bitcoin. So you know that? Let's continue with what he had to share. The central banks are going bankrupt. We are at the end of the fiat money regime. How many of you agree with that statement? I agree there 100%. The first person on the list is Berkshire Hathaway CEO, Warren Buffett. Thiel put up a picture of Buffett with two of his most famous quotes about Bitcoin. One was rat poison and the other, I don't own any and I never will. I also like to point out now since then, Warren Buffett has much indirect exposure to Bitcoin through Bitcoin mining stock companies and etc. So go figure. If you can't beat them, join them, right? And he goes on. He opined, I think the direct in it. Yeah, and I say also Charlie Munger goes along with him. Now, feel further noted that Buffett has a bias and makes him long on fiat money system and money managers who follow the Berkshire Hathaway executives advice will pretend it's complicated to invest into Bitcoin. I think we call that FUD. Fear, uncertainty and doubt. Now expect nothing less from one of the wealthiest people in the fiat money matrix Ponzi scheme. You know what I mean? So just saying. The next person on the list of Bitcoin's enemies is the one and only JP Morgan Chase CEO, Jamie Dimon, or as Max Kaiser calls him, Jamie the tapeworm. They'll put diamonds picture up with the following quote. I don't call them crypto currencies. I call them crypto tokens because currencies have rules of law behind them, central banks and tax with authorities. Now you guys already know how I feel personally about JP Morgan Chase CEO, Jamie Dimon. So I won't go any deeper there. But anyways, we know he's an enemy of Bitcoin and always has been. The next picture he put up was of the BlackRock CEO, Larry Fink, with the following quote. I see huge opportunities in a digitized crypto blockchain related currency, and that's where I think it is going to go. Now just FYI, Larry Fink is the CEO of the largest asset management firm in the entire world, which owns a large share in virtually all the companies in the S &P 500, and that is BlackRock. They currently have over $10 trillion in assets under management. And for a long time, he was spreading FUD regarding Bitcoin. But guess what? Like I mentioned earlier, if you can't beat them, join them because they just most recently, a few months ago, they submitted their application for a spot Bitcoin ETF, which ultimately means they're going to be introducing this to the institutions which have trillions upon trillions of dollars as there's currently north of $700 trillion in total addressable market, and they want their piece of the Bitcoin pie. So he goes on to share, the PayPal co -founder added that Fink's quote is somewhat representative of the whole genre of Bitcoin attacks that need further context, stating that pro -blockchain is an anti -Bitcoin term, very typically. Feel then brought up the environmental, social, and governance, ESG standards, elaborating the following, the label they have come up with, and perhaps the real enemy is ESG. I think that ESG is just a hate factory. Also like to throw out there, Elon Musk, he stopped taking Bitcoin payments for Tesla, and he says it's because of the FUD regarding this ESG, and we all know it's not more than FUD, and it's already been proven that Bitcoin is more than 50 % clean energy. So the million dollar question, when will the world's supposedly wealthiest man, Elon Musk, when will he start accepting Bitcoin payments again for Tesla? Isn't that a great question, and wouldn't you love to know the answer to that? Maybe you should ask Elon and tag him on X and see what he says. Anyways, feel stressed. You can always ask the question, what's the difference between ESG and the CCP, the Chinese Communist Party? Well, when you think ESG, you should be thinking of CCP per H. Now, he also goes on to share, it is the finance gentocracy that runs the country through whatever silly virtue signaling or hate factory to them, just like ESG, the billionaire concluded. This is what I would call and what you have to think of as a revolutionary youth movement, and we have to just go out from this conference and take over the world. So there you have it, fam. What are your thoughts surrounding Peter Thiel's prediction that we are likely to 100X, and along with his enemies list, as it seems, a lot of the enemies have come around and now have direct exposure to BTC, but it doesn't stop there because around that time he was making this $4 million Bitcoin price prediction. He allegedly dumped most of his position cashing out and with over a billion dollars in profits for his fund. So let's also break this down as this is also very relevant. How many of you were able to watch the speech he gave at that Bitcoin conference? It was epic, to say the least. I recall it now. So here we go. Check it out. Peter Thiel's venture capital firm reportedly made $1 .8 billion closing out its crypto positions around the time when he was an early Bitcoin bull, still predicting the token's price to surge by 100X. And again, from 43 ,000 price action, 100X means over 4 million. Founders Fund had cashed out almost all of its bets on digital assets by March of 2022, according to the Financial Times report that cited people familiar with the matter. But Thiel was still backing Bitcoin, obviously, when he spoke at the crypto conference in Miami the following month. He went on to share where at the end of the fiat money regime, he said, adding that the token's price could increase 100 fold from its level at the time, which was reported at $44 ,000 per coin. That prediction was proven false and as rising interest rates and failures, the high profile firms like Celsius Network, Three Arrows Capital, FTX, Terra Luna dragged the crypto sector into the prolonged bearish winter. Now Bitcoin plummeted by over 60 % in 2022 and was trading at under 17 ,000 by the end of the year. And I believe the bottom currently for the cycle is 15 ,700. How many of you feel that that bottom is in? Let me know, chat. Founders Fund first started pouring money into crypto all the way back in 2014, when Bitcoin was only trading at roughly $750 per coin. So by the time Bitcoin reached its all time high in November of 2021, it had surged 8 ,500 % from that particular level. Not too shabby for a seven year run, wouldn't you say? Now Thiel has a long track record as one of Silicon Valley's most prominent tech investors. He took early stakes in startups, which include Facebook, Elon Musk's SpaceX, and ride hailing app Lyft, and even co -founded PayPal back in 1998. Thiel is also a high profile supporter of the Republican Party and continued to voice his support for Donald Trump since the former president left office in January of 2021. The fund held around two thirds of his portfolio in Bitcoin at one time, but now not has significant exposure to crypto according to FT's sources. So there you have it. Fam, what are your thoughts surrounding his prediction and him cashing out at around that time he was making those all time high predictions of 100X? Let me know, fam. And don't forget to check out cryptonewsalerts .net for the full premium experience with video and to participate in the live Q &A. And I look forward to seeing you on tomorrow's episode. HODL.
Bloomberg Radio New York - Recording Feed
Monitor Show 19:00 08-06-2023 19:00
"Yeah, I want to just move to Barbie. Now, it's crossed the $1 billion mark in global box office sales, and it's just in its third week in release. Now, it's only the second picture to hit that mark this year, taking $53 million in the US and Canada in its third week, as well as now, what, $74 million internationally, so it continues. Yep. The next hour of Bloomberg Daybreak Asia begins right now. Broadcasting 24 hours a day at Bloomberg .com and the Bloomberg Business Act, this is Bloomberg Radio. This is Bloomberg Daybreak Asia for this Monday, August 7th in Hong Kong, Sunday, August 6th in New York, and coming up today, Fed Governor Michelle Bowman says more rate hikes will be needed. Berkshire Hathaway's operating profit jumps on insurance growth. China loses out to Japan as global funds chase returns in Japanese equities. In an exclusive Bloomberg interview, Prime Minister Netanyahu says he will not complete the judicial overhaul right now. China invites EU top diplomat to Beijing for meetings. Glimps of the Trump legal defense and election interference case. I'm Ed Baxter with Global News. There won't be a three -peat as the US women are knocked out of the World Cup. I'm Dan Schwartzman. I'll have that story and more coming up in Bloomberg Sports. That's all straight ahead on Bloomberg Daybreak Asia. On Bloomberg 1130 New York, Bloomberg 99 .1 Washington, D .C., Bloomberg 106 .1 Boston, Bloomberg 960 San Francisco, Sirius XM119, and around the world on BloombergRadio .com and via the Bloomberg Business Act. We're an hour away from trading in Tokyo, Sydney, and Seoul. This is Daybreak Asia, the Monday edition, and we're kicking off a new trading week.
Bloomberg Radio New York - Recording Feed
Monitor Show 18:00 08-06-2023 18:00
"For Bloomberg. Thank you so much. And Tom, back to you. Thank you, Kaley. That was Bloomberg Sound On co -host Kaley Lines reporting from our Bloomberg 99 .1 newsroom in Washington. And you can hear sound on weekdays 1 to 3 p .m. on Bloomberg Radio. And that does it for this edition of Bloomberg Daybreak Weekend. Join us again Monday morning at 5 a .m. Wall Street time for the latest on markets overseas and the news you need to start your day. I'm Tom Busby. Stay with us. Top stories and global business headlines are coming up right now. Broadcasting 24 hours a day at Bloomberg .com and the Bloomberg Business Act. This is Bloomberg Radio. This is Bloomberg Daybreak Asia for this Monday, August 7th in Hong Kong, Sunday, August 6th in New York. And coming up today, Fed Governor Michelle Bowman says more rate hikes will be needed. Berkshire Hathaway's operating profit jumps on insurance growth. China loses out to Japan as global funds chase returns in Japanese equities. In an exclusive Bloomberg interview, Prime Minister Netanyahu says he will not complete the judicial overhaul right now. China invites EU top diplomat to Beijing for meetings. Glimpse of the Trump legal defense in election interference case. I'm Ed Baxter with Global News. There won't be a three -peat as the U .S. women are knocked out of the World Cup. I'm Dan Schwartzman. I'll have that story and more coming up in Bloomberg Sports. That's all straight ahead on Bloomberg Daybreak Asia, on Bloomberg 1130 New York, Bloomberg 99 .1 Washington, D .C., Bloomberg 106 .1 Boston, Bloomberg 960 San Francisco, Sirius XM 119 and around the world on BloombergRadio .com and via the Bloomberg Business Act. Hi, everybody. It's Monday already. A good Monday morning.
The Charlie Kirk Show
Media Hides Major Bank Run Threat
"Media is probably getting calls from the Treasury Department right now. I guarantee you the big uglies, CNN, even the people running the Apple news desk, NBC. I can almost guarantee you the Treasury Department's PR side, the communications director. They are working the phones saying, hey, can you just downplay the bank story? It's okay if you cover it. Just don't lead with it. And apparently it's working. I mean, they do mention it on the front page of The Wall Street Journal, but what catches your attention here. Front page of The Wall Street Journal is some freak wearing a cat uniform at the Met Gala, a Jared Leto, Leto, next set, Anne Hathaway, and Salma Hayek. So it's working. The lead should be. Not some Doja Cat thing. Again, I've joked around for a while that we're living through The Hunger Games. This is confirmation that The Hunger Games were awfully prophetic. Again, they do cover it, but it's as if your eyes go away from it. First republic sees sold to JPMorgan on page of The New York Times, B one, so it's buried because the front page of The New York Times, they're leading with Ukraine. Anyway, they do cover the bank issue, but you could tell it's not the emphasis. Somebody is lobbying. Somebody is working the ropes of these media companies. And there's a reason for it. We're on the precipice of a major bank run institutional and institutional bank run. Now, you know this, I hope you know this. The money in your bank account is not actually there. The money in your bank account is just a promise. It's a promissory note. It is a fractional reserve banking system. It works as long as everybody doesn't go and withdraw their money all at once. So the fall of first republic bank should be a lot bigger on the wall street journal than the eye candy distraction smoke screen, Doja Cat person. But somebody at the Treasury Department and quite honestly, you can't blame them. Is trying to just kind of tamper this down. You can cover it here or there, but do not engage in panic.
Talk Is Jericho
"hathaway" Discussed on Talk Is Jericho
"Louis CK. And I think it's like the same thing like when that clip came out, no one really, I would say it didn't get that much traction. Right, right, right. Yeah. And I think because it was a wild time period in comedy. It was just uncensored. People just said whatever they wanted. And now it's like, no, Louis C.K., you're white. You're like the whitest white dude ever from New York. It's like you can't say that. Exactly. Exactly. What are you doing? I finally even just wrap it up with Tarantino movies, we like to do the early Tarantino movies in the 90s, some fanatic. It's insane. The modern ones don't have that because I think you really I know he was trying to mimic the vibe in the style of the 70s. In the 90s, it was just the tail end of it in the 2000s. Like if you watched Django, it's like, dude, it's enough. Yeah, get it. Yes, yes. It's not necessary, especially coming from someone like Quentin Tarantino. But again, when Pulp Fiction came out and these other movies, it wasn't that outrageous but now it's like, what was he doing? Didn't age well. Yes. How come that outrage wasn't there back then when their should have been? Interesting conversation is, I'm glad that went this route, but let's go back to talking about your career with wrestling back to AW. I think one of the reasons why I wanted to talk to you was you're tremendous job when you were working the whole program with hook. Thank you. Which I thought was very well done for beginning to end. Talk about that whole story because now you're finally wrestling a match. Yes. Which I didn't realize that you had wrestled along before. Of course, I'm sure you had, but they saw that match. I was like, oh, this is actually pretty good job. Thank you. Yeah, it's pretty surreal because I remember watching taz in ECW watching his WWF debut during the Royal Rumble. Yeah, and years later, I'm wrestling his son. It's bizarre. But I'm very appreciative of that feud from hook and taz and just being allowed to do what we did because I think it saved us. It kind of is your group, you mean? Yeah, yeah, I think we were just, I wouldn't say floundering. Like, I think we were just there. And once it turned into Lee and big Bill feuding with hook and jungle boy, it was like, oh, now we have a clear cut direction. And that's when we were kind of empowered to have a little more say, right? And that's when I pulled all the guys aside and said, hey, I think this is the direction we should kind of go in. And I think it worked out like hook is a tremendous performer. And I know he was excited to do the match. And it's like, no dude, I am excited to wrestle you. As you know, there's not a lot of real estate on Wednesdays. It's hard to get on this. Yes. Tony has hired what, 200, 300 people. So it's one of those things where once you're given that opportunity, you have to knock it out of the park. And wrestling hook was probably my favorite moments out of the past few years. Because I remember there was a promo with a couple of problems that I happened to be back there watching that you did. That was all kind of building up your hand was hurt. Or was it hurt? That sort of thing. But let's talk about putting together the match because it's a very hard hitting match. I mean, obviously kick the crap out of you as you should. You get a little bit of offense in there, but you're a psychology behind that. Well, it's one of those things where obviously hook is the future of AEW of professional wrestling and it was my task, my job to make him look like a monster. It was a manager versus a legitimate wrestler. And so the psychology was just trying to make him look as good as possible. And also make it entertaining and to have it be fun. We couldn't do as much as we wanted because I think it was a commission state, Kansas City. So we went into the crowd, but we couldn't do as much as we wanted to. But looking back at it, I don't think it needed anything else. You know, I thought it turned out great. We got what we wanted when hook was suplexing me into the guardrail and I could hear everyone lose their shit. It was like, okay, we got them. It's a fine line, though, too, though, do because it's like, everybody always wants to have a classic, as you should, but you also have to remember that we've never seen you wrestle here, most people don't know you're a Russell. So you can't go out there and be doing hurricanrana off the stage that you're got to be a punching bag and cheat to get the upper hand at different times with BS to kick the shit out of you. That's what the story warrants. I think other people probably would have looked at it as, like you said, let me get my shit in, but that wasn't my job. My moment was just being in the ring. That's right. And I had that promo beforehand, which I think helped tremendously. So that's getting your shit in. Yes. Exactly. Exactly. And the match is just, that's my job. Is to make him look like this unstoppable future of AEW. And I didn't mind. He could have suplexed me, 8 more times on the guardrail. My spine probably doesn't. Agree, but yeah. But when you look at all the great managers when they actually were coerced into having matches or were tricked into it or somebody loses so you get 5 minutes with Bobby heenan or Jim cornette and those guys were never doing anything other than just getting the crap kicked out of them and maybe doing some kind of underhanded trick to get an extra 30 seconds of survival. You know what the people want to see? Yeah, right before we went out, I told task and I was going to shoot on hook and pin him clean at the task looked at me with like a death stare. And did he laugh? That task would have hit the ring. Hook would have choked me out. Yeah. Yeah, they just would have jumped me in Kansas City. Talk a little bit about your actual wrestling career. So what were some of your favorite matches that you had as a wrestler, not as a manager in the wrestling ring? I would say my favorite match was wrestling, orange Cassidy. We had a cinematic match. It was on, yeah. Where? It was on IW TV. So for so IW TV is like the platform, so they have their own streaming service. So a lot of the Indies, that is the
Talk Is Jericho
"hathaway" Discussed on Talk Is Jericho
"I'm assuming when you first connected with MJF. Yes. And kind of, how did that come about? So I had done a few shows with the max, and that was limitless. And I think we had done, oh, alpha one, Ethan page, used to run his own company in Hamilton. We did this show in Hamilton, and that's how we met because he was from New York. I was in New York, and we just rode up together. And yeah, we started doing MLW, which was very interesting, I would say, MLW is what almost got me in hot water at work. Because MLW, they were taping on. I think a Wednesday. So I would have to take off Tuesday, midday, be gone all day, Wednesday, come back early Thursday morning and then immediately go to work. And this would happen. It was like once every two weeks and then it was like every single week I was having to do that. Were you saying he had to do? I was using vacation. I was using sick days. I was coming up with that I ended up hiring an assistant because I was in charge of marketing and digital media at that point. So I hired an assistant videographer who would cover for me and it was a friend of mine. So thankfully, it worked out, but yeah, it was a lot. So you start getting the regular work with MLW. Are you working on screen, so to speak with MJF or just the same company together? We were working on screen. What was your angle that you were doing? So the angle we were just the best of the best, right? Like he didn't need me. I didn't need him, but we were both just too assholes who were good at what we did. And so that's how we were friends. And we were just pieces of shit. That was our gimmick. In your opinion, what makes a good pro wrestling manager or a bad guy for us? What's the secret to doing it? I think that's a tough question. At least for me to answer. Because to be perfectly honest, like I'm not like a Don callous, right? I don't view myself at that level. What do those types of guys have that you aspire to then? I think they have the I think the word is equity and I think they can try new things and I think if it, if it goes a different route, they are able to fix it right away. And I think there are also able to get good heat and what I mean by that is it can't be offensive. And I know it's I hate to use this term because I think it is cliche, quote unquote, PC culture, right? And I think you can be a heel, but I think you can't cross that line and nor should you write to have someone go home and feel bad about themselves, but I think that is the difference. And I think it's being entertaining. And I think it's being charismatic. It's interesting too, what you were just saying about PC culture. How do you think that's affected stand up comedy? Because if you look at black communities, I mean, Richard Pryor, Eddie Murphy, two of my all time favorites. Yeah. I mean, I listen to Eddie Murphy delirious the other day, which was the number one probably comedy cassette when I was a kid. Yeah. You listen to that now. It's no way. You could listen to it together. But I'd be scared to laugh. And you might be scared to laugh. And he might be you know what I mean? It's really kind of affected in some ways for the better, but in some ways, I think it might have affected it kind of adversely. What are your opinions? So it's funny that you ask that because when I go back and watch def comedy jam or I would even say a little bit of kings of comedy. Yeah, yeah. The chapel show was like a perfect example. I feel like that comedy can't be done nowadays, but I think it's for a reason because it's like a different time period, right? The perfect example, if you go back and look at different celebrities, Twitter, right? And the early 2000s, like Twitter was wild, right? Like 2009, 2010, people were literally saying whatever they want. And people go back at that. And certain people get canceled or labeled a certain way. And I think you have to look at it at the context of this was the time period, right? And it's still shitty. It's still bad, but I think it's looking at that and going, oh, well, that's why they said that. It may not be right. But that's why it was okay to say back then with the repercussions. And I think my comedy, I would say it walks the line, right? It's funny stuff. It's topical. It's stuff that's going on today, but I don't want anyone to go home and feel bad about themselves or like another situation. And it's interesting too, as we move on, you know, as a society. Like faulty towers is one of my all time favorite shows. English comedy for the 70s. John Cleese plays the biggest asshole called basil fault. It is so funny. I was watching it again the other day. And I had forgotten one of the old British guys drops an N word and you watch it now. It's like, oh my gosh, that is so out of place and sewing up funny. He has terrible. But I wish there was a warning or something, just to say, hey, it's coming because it took me out of the fun vibe of the show just this evil nasty word. I think the perfect example. I don't know if you've seen it, but there's a clip to where this clip Chris Rock is talking to. I think it's Louis CK is Jerry Seinfeld, and there's one other guy, Ricky, Jarvis. He bases his whole act on basil faulty, by the way, that's his act as awkward, weird, goofy guy. Ricky Gervais on the faulty towers. Okay. Okay. Well, they're all in this room. And Chris Rock says the N word. And then Louis C.K. says it back. And he keeps saying it over and over and over. And the only person who goes, hey, this is Jerry Seinfeld. And he just had the where with all to where he just, it's like no. Under no circumstances whatsoever. So when that clip is played nowadays, people go, what were they thinking? Like Chris Rock and Louis CK. And I think it's like the same thing like when that clip came out, no one really, I would say it didn't get that much traction.
Talk Is Jericho
"hathaway" Discussed on Talk Is Jericho
"Anybody modern pass that you kind of looked at for inspiration? Bobby heenan obviously, Jim cornette. We'll wait for Bobby. Bobby just he had a different comedic timing with wrestling and I think that is crucial too because I think some comedy can go into wrestling and vice versa. But it's a little different. And again, he was a genius, like everything that he did. It kind of just withstood the test of time, kind of like Sweeney and that's how good he was. I don't like to watch a lot of, I would say I watch some wrestling managers, but I try not to watch too much because I think that when you watch a lot of it, you kind of just pick up, you inadvertently take some of what they have, right? And so I don't want to copy anyone else. I want to be inspired, but I don't want to rip off anyone else. So I'll watch it. I'll let it digest, but it's not something that I can really study because I don't want to pick up their habits, so to speak. Being a good pro wrestling manager is very hard to do. And once again, it's like, I want to be a manager. I was like, okay, there's some DJ from the radio station or whatever. I could do that. It's like there's such a subtleness to it. And you have to be willing to be the foil. The butt of the joke when you and also be super rat bastard serious when you need to be as well. And it's hard to balance both those lines. Again, as you know, a lot of people in wrestling, I think they take themselves too seriously. So for me, it's like, I don't mind being the butt of the joke, right? Like Daniel, Brian Daniels said, made fun of me having a bald head and the light shining. For a while, right? Yeah, yeah, and it's like, that's a part of my job. I don't mind looking like an ass. You got over so who cares? But you as the heel, that's the worst thing you can ever be told. I'm balls. What? Yes. And you're rubbing this in my face, this guy who has this teeny tiny ponytail, you know? So I don't mind being the butt of jokes. Obviously, it stops at a certain extent, but this is what I am here for, right? That's the character you're on the show. Yeah. Which I think like you said, the people that do take themselves too seriously in wrestling. I mean, dude, we're all part of an ensemble cast. You know, if you're an acting and if you're in a sports world part of a team and sometimes you have two lines in a scene, sometimes you carry the whole scene, sometimes you play the whole game, sometimes you play one play. No matter what it is, you got to give it your all and make it work because if you do that right, then the team wins. Yes. The show is good. Yes, it's about the greater good and not just, oh, I want to look good. I want to be this super strong heel manager. As long as people are entertained and people like what we are doing, I think my job is done. Sure. So when did you have to Ring of Honor? Because I know you've got a couple different places. So I went to evolve. And that's when things really started to take off because I would say, you know, I know he is a controversial figure in wrestling, but Gabe's a poleski was the first person to say, hey, I see a lot of potential in you, so I am going to give you this ball. So I was with TJ Perkins, teach AP. And then he left because he was doing the Cruiserweight classic. And so immediately I was put with the evolve champion and that was Thatcher. Timothy Thatcher. And he's made an appearance here. I think maybe one or two. And I would say that period was probably my most fun time in wrestling, just because it was such an odd pairing. You have me and then you have this super serious British grappler and we somehow made it work. And I think, well, I think it was because we were this odd couple and that lasted for a couple years. Right? Yes. So that's the reason why. Yeah. And so that lasted for a couple of years. He left, and then I managed to catch point. And then it reached a point to where I decided to leave evolve, because I just didn't want to be the guy who was there forever. So I left, that's when I started doing comedy, and then I thought to myself, oh, well let me see if I can go back to acting, because I also had a full-time job. I was doing marketing for a theater. So it's kind of juggling all of this. And then I was doing MLW at the same time too. So my hands were full. And then inevitably, I just chose wrestling full-time and that was that. So I was going to ask you before, if you've ever done stand up. So you did do comedy. Yes. I started doing stand up in 2000 18. So how did you approach that? I did one open mic once when I was about 19 and I did not fare well, shall we say? Never went back again. Well, so I was nervous, incredibly nervous. And I had a good circle at the time. And I had a lot of friends who were comedians, they had done comedy central, they had done SNL. And so I wouldn't say that I cheated, but I leapfrogged over a lot of people in comedy in New York because I had this wrestling background and I knew all these people. So my first show, like it wasn't an open mic. It was on like a real show and I was the second to last person. Yeah. And it turned out well. I can thankfully say that I have not bombed with any set that I've done. Who knows after this podcast, I'll probably fail in a few weeks, but it was a nerve wracking experience, but again, when you're in front of all these people and you're able to make them laugh and to riff and to just control the audience, like it's such a different feeling and it feels fantastic. It's interesting. So you have to put together how long was your set? So normally, the sets are like 7 to 8 minutes. Right. But you can plan that, but I'm sure as you know, like a match you bait, you may see the light flashing in the back that says wrap it up or you may be told hey, you have an extra two and a half minutes, yeah. So I would write a set, but then I would also have just jokes in my head.
Talk Is Jericho
"hathaway" Discussed on Talk Is Jericho
"45. It's early, but that's okay. So you guys want behind the scenes on talk is Jericho, this is it. Yeah. So let's talk about you mentioned your relationship with max prior. So we'll talk about your wrestling career before you went to WWE before you came to AW because you were actually on the Indies for quite a few years beforehand. Of course, I would say my career, I wouldn't call it a fluke. Again, I think it's everything is right place right time. I got into wrestling because of my brother. He was a big wrestling fan. And I went to grad school to study theater. And so for me, it was performing arts. I had my heart set on that. And so my thesis, I didn't want to write a paper. I didn't want to be in a place. So I decided to prove that wrestling was an art form. Such thing. Yeah. So I moved to Philly. I trained to be a wrestler. I think I was there for like 6 months, moved to Chikara. Okay, so Claudio, orange Cassidy, Chuck Taylor, all these guys had a hand in turning me and getting me prepared. And so I moved back to Savannah. I finished my thesis project, and then I went back to New York, 'cause I was going back and forth because I was doing internships at different theaters. So when I moved back, I went, okay, this is it, I'm going to be a professional actor, and then it kind of just fell into my lap. I ended up with Ring of Honor, Ring of Honor is where I actually debuted. So before you go that so tell me about your thesis, so you finally did write your thesis that wrestling was an art form. Yes. What was your what was your line on that? It's the exact same thing. Theater happens on a stage, wrestling happens, or wrestling normally happens, I would say, in the ring, right? And then you talk about production values, the lighting, costume design, the rehearsal process, everything is just down to the T, just like theater. And I don't think people look at it that way. And I think if you say that nowadays, most people will look at you finding because I think some people see it as like an arrogant thing or they see it as, you know, it's not really theater, but I think there is a direct correlation to a 1000% agreeing with you on that. Thank you. I always say that if Shakespeare was alive today, he'd be writing wrestling shows. Yes. Because resting as a modern day morality play is a good guy. There's a bad guy you're acting on in front of an audience and they're responding accordingly. He's told Shakespeare. Yeah. And I think when I first pitched it, all of the professors thought that I was going to fail, which I thought was funny. Interesting. So let me get it. Yeah, they had, I would say they probably knew wrestling from Hulk Hogan or Randy Savage. That was their first impression. So when I return and I turned in my paper, they were highly impressed. And I graduated. Yeah, yeah, it went back to New York, and that was kind of just the beginning I started training with Ring of Honor. I ended up on television with them. So it's pretty, I would say surreal that everything has come full circle, the fact that AEW owns Ring of Honor now. So I think it's inevitable that I will show up on Ring of Honor television. Last thing about your comparison of resting in art to me anytime you create something out of nothing, it's art. Yes. If we paint a picture on the wall, it's art. If we write a song, write a play, put together a wrestling match. It's two guys creating something from nothing. That's the epitome and definition of what art is. So it's no surprise that they didn't get it, but it's also no surprise that you got a good grade because it's pretty academic, you know. Yeah. And I think I was the first person ever do something like that. And I started doing Ring of Honor, and then I said did you train as a wrestler at first? Was a size of an issue? It was just kind of the dawning of the smaller guys of the Rey Mysterio era. I would say Rey Mysterio was like a huge influence to me, but again, I needed to be realistic if I had decided to pursue being just being a wrestler, we wouldn't be having this conversation because I think to be smaller, you need to be a high flyer or you need to be big enough to where you can kind of be known as like a brawler. I didn't fit in any of those characters. The character. Yes. You fit the character side of it wrestling is. Yes. And I think it was Claudio. I think Claudio was the one who said, hey, maybe you should try managing. And I went, oh yeah, that's interesting. And then I met Larry Sweeney. And then it kind of just sparked this interest. And I went, oh, I may actually be able to really do this. And it kind of just grew from there. Let's talk about this. I've been doing this show for almost ten years. And I don't know if I've ever really talked too much at all. Definitely not in depth about Larry Sweeney, but I've heard so much about him. I never crossed paths, but tell us about Larry Sweeney I know he's not here anymore. I think he passed away on his own. But tell us about him, because everyone talks about him, he's such glowing reviews as a performer and as a manager or wrestler of whatever he was. I don't really know. So please feel me. So he was a wrestler. He was a manager. He worked for Chicago. He worked for Ring of Honor. He pretty much was everywhere during that time. And he was just one of those people to where he could just walk out with a microphone and everything was just golden. This over the top personality, sweet and sour, 12 large, and I think that I think the fact that every year on his birthday, you just see tons of people just paying homage to him. I think that says a lot, because I'm sure, as you know, wrestling is so topical. You do something in the next day, it is immediately forgotten or negated, but Larry Sweeney, people will remember him forever. And I think it's just because of his talent, right? If he decided to pursue improv or stand up, you know, he would have been great at it just because he could just think of something just on the fly.
Talk Is Jericho
"hathaway" Discussed on Talk Is Jericho
"So I knew that he was coming back, but it's not up to me to tell other people. Where should you? What's happening? And plus, I was sworn to secrecy, and I wanted this act to play out. And I'm sure, as you know, you tell one person, they tell this person and everyone knows. So no one else in the group knew until I would say this was maybe a few minutes after we did the latter deal. Wait a minute, so no one else knew who was kind of behind the scenes. No. What would you say if they asked you? I'll just go, oh, I don't know. Just little me, I have no clue. Afterwards, we went into this giant, I wouldn't say, I guess it was like a mini tour bus. And max was hit in the tour bus. And that's when everyone else found out what the plan was. So what was the reactions of the different guys? I know I've talked to Lee Moriarty about this, but did guys kind of know? Or was it just like, oh, I think you hear rumors and you never know. I think some people had a hunch, but it wasn't for sure, right? Because it's wrestling, plans change. You may hear this. You may hear that, but I don't think it was really official until they actually saw max himself. Yeah. So, and obviously, you know, we don't want to get too far in the weeds in this, but that's probably one of the biggest moments of your career, if not the biggest moment, because everybody joins up together. It helps max win the latter match, which makes him the number one contender. Beat the crap out of everybody else, and this is probably a pretty big high point in your night. Which about three hours later, yes. You did not work out that way. Yeah. I mean, I won't lie, I would say the biggest thing that I was concerned with was actually climbing the ladder just because I've never done anything. My memory, how that went. Tell us kind of what all happened and at the end of that for the finish of that match. So basically, it was the beat down with everyone from the firm surrounding the ring and then Ethan page. I pretty much begged him. I said, hey, you have to hold this ladder for me. And so he held the ladder, and so I climbed up and grabbed the chip. So I'd say like maybe a few hours before the pay per view, I went up to George, and I said, hey, can we please have a rehearsal? And they thought that was crazy. And I'm glad we did because there was a special way that I had to prop my knees and legs on the ladder to not tip over because there was a giant chain holding the chip. So if I would have accidentally pushed it or moved a different way, like I would have fallen off the ladder. Well, here's something to just to explain. And I'm glad you brought this up. You know, you're not 6 foot 5. You're normal guy. It was 6 four 6 four actually. But people climbing ladders like if you're putting in a lightbulb at your house, it's kind of scary. If you're painting or you got to go up to the eavesdrop, when you're a wrestler climbing ladders is just, oh, it's just what we do. But for 99.9% of the population, it's a little bit scary. And you mentioned you've never climbed a ladder in a rustling ring, so of course you should rehearse it because what people don't understand is that thing also bounces as the ring is bouncing and as people are in there. It is very scary if you've never done it before. Yes, yes. And so Ethan page, it's a funny moment now. As soon as I grab the chip, he turns around to pull off his mask. So the latter just starts wobbling. If they got, they cut to the crowd 'cause I'm just, you know, as fast as possible, just trying to get down the ladder, so that people don't realize this unhooking the belt chip, brass ring, whatever's hanging up there. It's not so easy because you got to obviously lock it in there fairly good randomly fall. But when you're staying on top of a ten foot ladder, you know, and once again, being only 6 foot four like you are, or maybe four foot 6, you gotta climb to the top of the top. So that thing, like I was watching will house in the last one, and you could barely get that damn thing off and will is 6 four or whatever he is. I'm hooking it as hard. It's good that you had a chance to rehearse that. Yeah, it was a process because I had on gloves as well. Take off the gloves and put them in my pocket. So it was a process, but it was one of those moments to where, you know, I just look back at it and it was just insane. So you come down the ladder, you guys are in the ring, devil takes his mask off. Yep, pretty huge moment, right? So I know how max, how max thinks and I'm sure he had so much stuff figured out in plans and ideas and thoughts and all this stuff and then of course the issue goes down with CM Punk and CM Punk is hurt and CM Punk
AP News Radio
NHL-best Bruins clinch Atlantic with 2-1 win over Tampa Bay
"The bruins have formally clinched the Atlantic division title with a two one decision over the lightning. Boston's 56th victory. The bruins are 6 away from tying the NHL single season record for wins with ten games remaining. Bee's newcomer garnered Hathaway scored a tie breaking goal in the second period. We've been looking forward to this. To a team that's in the playoffs, going to be in the playoffs and we potentially could see a team that's battling right now. Patrice bears are on had a power play goal for the bruins and lean is all Mark stopped 26 shots. Victor hedman had a shorthanded goal for the lightning. And Andrei vasilevskiy made 32 saves. I'm Dave ferry.
AP News Radio
Bruins fastest to 50 wins in NHL history, beat Red Wings 3-2
"The bruins are the fastest team to 50 wins after knocking off the red wings three two. Boston newcomer garnet Hathaway scored in the third period to break a two all deadlock in the bruins 64th game. Detroit actually led to nothing until hampus lindholm and Patrice bergeron scored 88 seconds apart in the second period. Linus Omar stopped 30 shots and the bees 11th victory in 12 games. Magnus helberg made 35 saves for the wings who continued to fade out of the playoff picture with their 7th loss in 8 games. I'm Dave fairy.
The Trish Regan Show
Warren Buffet Is Out With a Stark Warning on Inflation
"First to the news of Warren Buffett, billionaire famed investor 92 years old now, no spring chicken. He's seen her thing or two, while he has a very stark warning on inflation. He wrote in his annual newsletter to Berkshire Hathaway shareholders that fiscal deficits have consequences. Imagine that. He's also warning of a pretty darn tough economy in the near future, writing quote, our job is to manage Berkshire's operations and finances in a way and manner that will achieve an acceptable result over time and that will preserve the company's unmatched staying power when financial panics or severe worldwide recessions occur. Oh, okay, well, you said it. Financial panics. You know, we've been through them before. Think about 2008. But what is different about this time around is that we're in an environment where the fed has already done everything it can. And so now it has to raise rates. And yet if inflation just keeps continuing, and the fed keeps raising rates, then there's no way to actually help the economy when it gets in a really bad position.
Black N' Gold Hockey Podcast
"hathaway" Discussed on Black N' Gold Hockey Podcast
"Yeah, so massive trade, I think it put him in a good spot and Mark, I gotta be honest, I was working thunderbirds last night, so I didn't catch a lick of the inaugural Hathaway orlov game. Three one win in Vancouver again, a team that's not very good, but you gotta beat. Did either players sort of jump off the table for you or were they just sort of in their role in staying in their lane? I saw something that orlov was maybe not pushing the puck as much as he will when he gets a little more comfortable. What were some of your takeaways from their debut last night? I thought Hathaway was impactful. I thought, you know, he was out there, he banged his body around. And I thought orlov, he had 2020 plus minutes last night, which is respectful for respectable for a new player come into a team, new system, and so on. But I think that that's the factor here, though, is just one game. I think that once these guys get more involved, you know, get a little chemistry together with their line mates and so on. I think it's just going to get that much more better. I know Hathaway and or left both said that, you know, there's going to be some video sessions and so on and how to properly do the systems. It's all just an adjustment period. And I think it's going to be good. I don't want to like, you know, obviously, you know, pros and cons of one game right now. I really want to see how they do coming up this coming week when they play Edmonton and Calgary back to back. How they're going to be used in those situations and how much more of an adjustment they can take just to getting commodity in the logarithm. Both of them have at this book highly about their welcomes. And each player in each teammate that does work close on their lines, you know, come up and give constructive criticisms and so on about how to do this and how to do that and how we learn and blah blah blah.
Black N' Gold Hockey Podcast
"hathaway" Discussed on Black N' Gold Hockey Podcast
"Yeah, so massive trade, I think it put him in a good spot and Mark, I gotta be honest, I was working thunderbirds last night, so I didn't catch a lick of the inaugural Hathaway orlov game. Three one win in Vancouver again, a team that's not very good, but you gotta beat. Did either players sort of jump off the table for you or were they just sort of in their role in staying in their lane? I saw something that orlov was maybe not pushing the puck as much as he will when he gets a little more comfortable. What were some of your takeaways from their debut last night? I thought Hathaway was impactful. I thought, you know, he was out there, he banged his body around. And I thought orlov, he had 2020 plus minutes last night, which is respectful for respectable for a new player come into a team, new system, and so on. But I think that that's the factor here, though, is just one game. I think that once these guys get more involved, you know, get a little chemistry together with their line mates and so on. I think it's just going to get that much more better. I know Hathaway and or left both said that, you know, there's going to be some video sessions and so on and how to properly do the systems. It's all just an adjustment period. And I think it's going to be good. I don't want to like, you know, obviously, you know, pros and cons of one game right now. I really want to see how they do coming up this coming week when they play Edmonton and Calgary back to back. How they're going to be used in those situations and how much more of an adjustment they can take just to getting commodity in the logarithm. Both of them have at this book highly about their welcomes. And each player in each teammate that does work close on their lines, you know, come up and give constructive criticisms and so on about how to do this and how to do that and how we learn and blah blah blah.
AP News Radio
Caps edge Bruins, 2-1, despite Ovechkin being held scoreless
"Nick Baxter, and garnered Hathaway did the scoring for the capitals in a two one one at Boston. Baxter provided the first goal 6 28 into the game during a 5 on three power play. Hathaway made it two zero midway through the second period, sending the bruins to just their second regulation, home loss of the season. Darcy Kemper made 27 saves for the capitals who have won three of their last four games to solidify their hold on a playoff birth. Nick foligno scored a Jeremy swimming stopped 21 shots for the bees. I'm Dave ferry.
The Breakdown
Is the Narrative Around ESG and Bitcoin Mining Shifting?
"All right guys, this is a topic that I am excited about because as you well know, the environmental impact of Bitcoin mining has long been one of the bully cudgels used by people who don't like Bitcoin to justify why it shouldn't be allowed to exist. Look at the environmental costs they say, how could this thing possibly be worth that? Now, of course, there are a million counterarguments to this. There is the free market argument that says this set of actors are willing to pay to use the energy. Who are we to stop them? There is this slippery slope argument of where does it end when we start making value judgments that one use of energy is better than another. What other types of activities might be imperiled? There are the folks who would point to the social and governance upsides of Bitcoin as countervailing other environmental costs. And then there are those who argue that Bitcoin mining actually has some pretty interesting potential positive impacts on environmental goals for those who are willing to go beyond the cheap headlines and easy assumptions. Still, those sorts of arguments are all too few and far between in mainstream media. In fact, at the moment, driven largely of course by the market cycle, a much more popular media trope is the type of critique exemplified by Charlie Munger sensationalist ill backed up peace in The Wall Street Journal this week, why America should ban crypto? The 99 year old Berkshire Hathaway vice chairman wrote in the WSJ. It isn't currency. It's a gambling contract with a nearly 100% edge for the house. that sometimes cryptos are first sold to a promoter at an negligible cost before being purchased by an unassuming public, allowing the promoter to capture a massive payday. It makes sense that munger would be describing a phenomenon best associated with ICOs from four years ago, but here we are. Almost half of the article is dedicated to praising the Chinese Communist Party for their 2021 ban on crypto, as well as citing the 100 year ban on issuing common stock in England following the collapse of the south sea bubble. Despite its lack of detail, analysis or honest engagement with the issue, this article will probably be given serious consideration and attention from many corners of the financial world.
CoinDesk Podcast Network
Charlie Munger Calls for Crypto Ban in the U.S.
"On Groundhog Day, we have someone doubling down on their anti crypto stance and Adam is going to start us off with that. What do you got at him? Thanks, Zach. First up, a new opinion piece in The Wall Street Journal calling for a ban on cryptocurrencies is generating a lot of chatter this morning. It's authored by Charlie Munger, the ultra wealthy octogenarian vice chairman of Berkshire Hathaway, and a noted Bitcoin skeptic. In the piece, which is actually surprisingly short, munger describes cryptocurrencies as quote gambling contracts with a nearly 100% edge for the house. He then calls for a broad federal band saying in part quote, the government of China banned cryptocurrencies because it widely concluded that they would provide more harm than benefit. Before going on to cite a ban on the trading of new equities in 1700s England, which I found an interesting comparison. It's not a particularly nuanced article and notably towards the end, it suggests that after instituting a federal ban, the U.S. should quote thank the Chinese communist leader for a splendid example of common sense end quote. There's a decent amount to be said here even before we get into the rather polarized comments on the article. Jen, you want to start us off today? Sure. I love that you brought up all those quotes. It really wasn't a long article. I think when you go to The Wall Street Journal, it says it takes two minutes to listen to it, so it was very short. It had very little examples, and I have to say it was very one sided. That said, Charlie Munger, a very smart man, made billions in his life, but he doesn't like Bitcoin and we know that, right? I think it's really interesting and funny that he brings up China as the example that we should all follow in this hatred towards Bitcoin and crypto and fails to mention that China is actually leveraging the technology that powers all of this for their own benefit in their CBDC and NFT project. I know I saw Zack's hand go up, but before we get to use Zach, Adam, you brought up this gambling contract piece from the story and I have to read what came right before that. He said such a wretched excess has gone on because there is a gap in regulation, a cryptocurrency is not a currency, not a commodity, and not a security he then goes on to say, it is just a gambling contract. This man hates crypto, and I think that's okay. This is really funny that it was published as an op-ed in The Wall Street Journal given that it was so excited is my take on
Leading Saints Podcast
"hathaway" Discussed on Leading Saints Podcast
"Your long-term sobriety. Yeah. So what does sobriety today look like for your recovery look like as a dentist? I mean, because you are still practicing and you can go to the office and you do the things and is there anything you are required to do or that you do do to make sure you stay safe? No, there's nothing that I really have to do now because of that 5 year thing was over about 5, 6 years ago. So I've been kind of on my own. But it's like now there doesn't have to be a whip a stick. There's no prod or no, there's no fear in my recovery now. I choose to do certain things because I love what it does for me and my wife is we're on the same track. We love the feeling the connection. We love I wear a missionary tag. This is Emma elder Evan Hathaway, you know. Like when you go to the meetings, or when I go to the music, and I wear in church, that missionary tag, when I got called to that, I told my steak present, I said, thank you for this calling because I've been called by God in this thing. I'm just kind of cool that my priesthood leaders are validating that. But I will continue to be in this calling the rest of my life. I mean, I have seen and experienced and watched. And be a part of a sponsor E that's going through this process is so divine. And you know, I don't know, I probably will never serve in a church leadership position where you're up in front of people's eyes because it's probably wouldn't be good for me because the monster pride would take over. But I just assumed be a navy seal that's like swim under the water. So hidden pop up helps solve this thing and then come back out and then don't tell anybody. Yeah. Because for me, if I do things that my pride takes over a while, then I'm in trouble because the pride was the monster that killed me the first time. So I'm constantly battle on that demon, don't go ahead and do that. So here talking to you, don't be prideful. This is God's work, right? Right. Absolutely. So talk to me about just the impacts maybe had on your marriage, your family, early on. I mean, because you were taking that stroll, that early morning thinking, you may lose everything, including your family. And so obviously there's things we've talked about in other episodes like betrayal trauma and just the stress that has some people. So they're on families, so what was that experience like? That's a great question and it's actually somewhat I'd love to talk about. In addiction, there's this really interesting concept that happens, it's called the cloak of invisibility, denial, minimization, rationalizing that you do towards your addiction. You'll pull this screen up is because you can't, it's so painful for you to be doing what you're doing and you've got to make it right, it's against your soul. And so you pull this screen up by doing these mental gyrations to make it okay that you're doing this thing. And it's really damning. When you get in recovery, you start to strip this thing down and go, oh, that was the real me. This is what it was going on and doing. And a really big part of recovery is doing that thing. Well, interestingly, that's not the only cloak of invisibility that you pull up. Over here, you have wife, family, kids, people that you love, and you've pulled up the same cloak of invisibility regarding the pain and hurt and damage and suffering that you've caused those folks and hurts really bad when you go into that. And you go into really tremendous shame. For me, in recovery, I had spent ten years of my white knuckling my abstinence with the porn thing, and if my wife ever brought that up, they want to talk about that. I would feel such shame about that. I had the cloak of invisibility going really good there. I was telling my addiction, but I'd say, you know, I repented that a long time ago and when Christ says he will see those sins no more. I really don't want to talk about that. I haven't done it for ten years, honey, you know, we don't need to talk about that. So what I did is I completely just shut her down. Her healing and I didn't validate anything. So we realized that there was work yet to be done in recovery that had caused this tremendous amount of pain that I haven't even I may be said I'm sorry quickly and I just hate that I did that and then I'd be in such shame I really didn't want to go there. So when I was able to heal enough that I didn't have that shame, then I could pull that cloak of invisibility down. And reach out and grab her hand and own what I'd done and acknowledge it. And then be able to walk with her into that pain and we did a lot of counseling and therapy and retreats in that principle to help her heal. But I had to be able to walk with her into that pain that I caused own it and then really acknowledge and realize and see her as the hero in my life that she's been in all this process. You know, what a just a tremendous giant she's been in this process. So there's this betrayal trauma that it took me a level of healing to be able to go, okay, let's walk into that. And interestingly, because as an addict and I hope I'm not talking too long. Is an addict. There's a really interesting side effect. So you have all these things about the one up in your life that are pains. We call it a dis ease. At ease, uncomfortable ill at ease, disease. The stuff that comes up that's uncomfortable that's painful. When you live in attic lifestyle and many of us not even as addicts, you run an height from those things. You really don't use your proper coping mechanisms, which is let's talk about this. Let's be really real and vulnerable. You know, there's a friend, a wife, a bishop, the lord. Let's talk about these. That's the healthy coping mixes. We don't do that. What we do typically is that thing bubbles up that's uncomfortable. Okay, how do I deal with that? Well, let me run and hide. I've got ABC and D, I've got these multiple things that I can do to numb from it. So then I don't have to deal with that feeling that comes up. That's uncomfortable. So what happens is we really lose the ability to feel. Things that are happening in our life are self awareness is garbage. You know, the acuity for those things coming up, we just don't notice. And so what happens is our emotional intimacy, really good word. Stinks. Terrible. So why is would love to have emotional intimacy, but you've got to be able to feel feelings acknowledged and talk about. So an attic side effect of an addict the way that they've dealt with this stuff, they don't have any emotional intimacy, it just stinks, they know, anger, fear, pain, you know, they just know these few things. And if someone's uncomfortable, they use their addiction. Well, when that addiction is gone, we have to relearn how to feel feelings to recognize them to dive into them to pull them out. I remember a therapist like we're working on this. It's like he's pulling these strands out. Does it kind of look like? I feel like this, I'm like going, yeah, I don't have the words, but you're saying that really good and blah blah blah. So in recovery, you develop and relearn this emotional intimacy that your wife has been craving. I mean, she goes talk to her girlfriends about things all the time, but, you know, I wasn't really available to be at that level. I thought I was, but I really wasn't. So in recovery, we've been able to reconnect on this really
Bloomberg Radio New York
"hathaway" Discussed on Bloomberg Radio New York
"From the state courts. The state didn't defend the governor's order. To the Supreme Court. The justices unanimously reversed rulings by the 9th and tenth circuit. Dune Grasso delivers your legal intelligence. So why did the appellate division dismiss the complaints? Bloomberg law. President Biden's vaccine mandates are facing problems in the courts On Bloomberg radio, the Bloomberg business app and Bloomberg radio dot com. A new national poll just ahead of the midterm elections reveals a very competitive landscape, the NBC News poll reveals Democrats have caught up with Republicans in terms of election enthusiasm, 73% of voters from both parties expressed high interest in the election. It also puts President Biden's approval rating at just 44% overall and at 40% in swing states, the survey shows the top three concerns for voters include the economy ending partisanship in Congress and women's rights. Pfizer is working on an experimental RSV vaccine for infants. The company says it's proving effective in preventing severe infections in babies. The vaccine was given to expectant mothers in a late stage study during the second half of their pregnancies. Pfizer halted the trial after its early success and plans to file for approval next month, the CDC estimates about 58,000 children under the age of 5 are hospitalized each year because of the respiratory virus. A pair of Kenyans Evans Tibet and Sharon located one Sunday's New York City marathon, some 52,000 runners from more than 150 countries took part in the annual race through the city's 5 boroughs. I'm Chris karashi. And I'm Brian Curtis in Hong Kong. Let's check this hour's top business stories and the markets. Apple says it expects lower deliveries of its newest iPhones than previously expected. That's due to lockdowns in China. The company still sees strong demand, but said in a statement on Sunday that customers will experience longer wait times for the products. Berkshire Hathaway's insurance businesses took a hit in the third quarter. We get more from Bloomberg's Susanna Palmer. The insurance industry had the fallout from hurricane Ian to deal with and increased frequency and severity of claims in the auto space. Berkshire Hathaway run by billionaire Warren Buffett posted a $962 million loss on its insurance underwriting businesses. Even so, max Reyes, who covers Berkshire for Bloomberg, says it could have been worse. Hurricane Ian obviously caused tens of billions in damage to the fact that it didn't take a bigger loss on it is something to sort of celebrate up itself. Berkshire repurchased $1.05 billion worth of its shares in the period and is sitting on a cash pile of $109 billion. Susanna Palmer, China's export growth slowed in October on weakening demand abroad, exports falling 0.3% year on year, and that's down from September's gain of 5.7%, imports were down 0.7%. Economists in a Bloomberg survey say the CPI for October in the United States will show a gain of 7.9% from a year ago. That's only a minor slowing from the 8.2% in September. Let's check the markets. The index is rallied 3.3% at torrid 534 point jump. The nikkei is up 1.2% and in Taiwan, the Thai X has rallied 1.4%. Additionally in China, the CSI 300 up about four tenths of 1%. Global news, 24 hours a day, live and at Bloomberg quick take. In Hong Kong, I'm Brian Curtis. This is Bloomberg. You're listening to Bloomberg intelligence with Alex Steele and Paul Sweeney on Bloomberg radio. We'll be here each and every week
Bloomberg Radio New York
"hathaway" Discussed on Bloomberg Radio New York
"In the U.S., Canada, Australia, and the UK, as of Saturday, but Musk says it's coming to other countries in the future. I'm Chris karashi. And I'm Suzanne Palmer in the Bloomberg newsroom. Twitter has started giving users who spend $8 a month on a subscription of verified checkmark just days after new owner Elon Musk floated the idea of a new verification system. Alongside the new verification system, Twitter is also promising to cut in half the number of ads subscribers C also coming soon are the ability to post longer videos and get priority rankings and replies, mentions, and searches the company said, Twitter blew is currently available only for users in the U.S., Canada, Australia, New Zealand, and the UK. Warren Buffett, who has long reiterated his love for insurance companies, took a painful hit on Berkshire Hathaway's underwriting businesses amid an increase in auto claims and the aftermath of hurricane Ian. Berkshire reported a $962 million loss on insurance underwriting in the third quarter. The worst quarterly loss in a year. Berkshire also reported a net earnings loss for the quarter of almost $2.69 billion driven by a $10.4 billion hit tied to its investment portfolio as economic uncertainty, hurt the markets. Max Reyes covers Berkshire Hathaway for Bloomberg news. It was a decent quarter, one that obviously is still feeling the effects of the market downturn. They reported a loss, but a lot of that is sort of accounting just tied to their equity investments. And a lot of analysts tend to discount that. So overall, I think sort of a mixed bag with insurance being one of the weaker parts of what we saw. The company repurchased $1.05 billion worth of shares in the period and is sitting on a cash pile of $109 billion. Global news 24 hours a day on air and on Bloomberg quicktake powered by
Bloomberg Radio New York
"hathaway" Discussed on Bloomberg Radio New York
"TV colleagues definitely seeing some moves up towards the best levels of the day when it comes to equities In fact we are there So slight gains but definitely a different tone from what we saw earlier in the day What changed I don't know I don't know Maybe people Different sentiment This is what's tricky about when the fed starts to raise rates right Or when they're getting more aggressive First of all some would argue they're chasing down inflation some would also argue that they're more comfortable and that they can do it because they have confidence about economic growth going forward And increasingly we see people come on and they say well look at the tight labor market That's a sign of strength Look at earnings estimates continuing to come down Balance sheets again whether it's household or corporate balance sheets sheets being in a strong position So that should provide some support for economic growth And maybe that's where you get some of the equity investors saying well wait a minute Maybe things aren't all coming in down at least right now And what you talk about all the time Carol where else are people going to allocate their money right now And like a Warren Buffett and Berkshire Hathaway where some stocks have really been beaten up and if you have enthusiasm and an optimism maybe longer term you're saying this is a buying opportunity maybe for some particular names possibly even the broader market The question is what happens next week when we get that year over year CPI number for the month of March 8.4% is what analysts surveyed by Bloomberg are expecting Excluding food and energy 6.6% so still high All I would say it's the outliers If it comes in much much hotter or it comes in much much weaker That's when you start to change the narrative that's out there Let's get to Washington D.C. for a check of the latest world in national news with Nancy Lion tenants Hey Tim judge Hitachi Brown Jackson will be the first black woman to join the Supreme Court she was just confirmed this afternoon by a Senate vote of 53 to 47 Senate majority leader Chuck Schumer says it's a joyous day for a nominee who is well deserving Every step of the way the judge has proved herself exceptionally qualified and thoughtful and prepared to serve on the court Schumer says today is a milestone that milestone that should have happened generations ago all but three Republicans voted against her admitting she was well qualified but too liberal Defense secretary Lloyd Austin and joint chiefs chair Mark milley today have been pleading their case for a $773 billion budget request before the Senate armed services committee Ukraine is at the center of their pitch as we hear from Bloomberg's Chapman Secretary Austin characterized the effort in Ukraine Putin is now focused on the south and east of the country In our goal is to make sure that we give the Ukrainians everything that they need as fast as we can get it to them and we're pushing it so that they can be successful in that fight as well General milley added there's a significant battle yet ahead Gets an open question right now How'd this ends So far milley said there's no sign of Russian willingness to negotiate a way out In Washington nerve Chapman Bloomberg radio At the masters at Augusta national Cameron Smith sits alone at the top at four.
The Futur
Discussing The Golden Handcuffs Trap With Graphic Designer Anthony Banks
"So you're you're working a staff job and you're thinking okay. Is this just me slowly dying. And i'm getting paid and there's a comfort and security in knowing that there's a regular paycheck distress over finding work all the time but then there's no real fast way to get ahead right. Yeah i mean there's there's always move out to up that's kind of what we do In our industry but then you just end up at another job. Kind of just biding your time. Until you think you're ready for a promotion or a pay raise or something and then you just move somewhere else at. It's it's just like a slow predictable path and it's not very appealing when i think ahead like ten twenty years. Yeah and how long have you had this job. I've been at this job a belt three and a half years which is about the the average stint that. I'll i'll be at any one place i see. So you're coming up on that and you're getting the aging yen. Okay let me ask you a couple of questions. Are there a lot of job opportunities. In nebraska there are I live In the capital. Which is lincoln. And i work in the biggest city which is omaha That's where berkshire-hathaway is based at of. There's there's a lot of industry here. There's a lot more design in advertising. Things like that than i would have ever imagined when i first moved here. I'm i'm originally from southern california and you have this. Perception of the mid west is just farms and cows and All that kind of stuff. And i've been shocked. At how much designed there is here. Okay so there's plant it's a healthy job market for a person with creative services or craig's skills right. Oh absolutely okay all right. Do you feel that. You have to stay for certain reason that i need to stay in my position I don't feel any compulsion to stay. I can't say in all honesty that this has been the best job company culture that experienced in. Gosh like but twenty years. I've been now all the stuff i mean. It's it's it's rare you know so it's the idea of of leaving it for really anything else especially another company. That's kind of not appealing. Because i know what the alternative could be like and that this is rare. So there's that part of it that's that's teetering me there and i mean they pay me well. I have great perks So it's all is that The golden handcuffs. A little
AJ Benza: Fame is a Bitch
Anne Hathaway's Ex Raffaello Follieri Says She Ghosted Him
"Marriage in relationship between Anne Hathaway and refill of foliage was in the news again, remember that guy Rafael for lady, 43 year old real estate developer. He was dating Anne Hathaway back in 2005, 6, 7, 8, whatever. And then it ended as quickly as it began and ended. And at the time, this guy was arrested for fraud. And Hathaway was about to become a big a list actress so clearly she couldn't have this in her life, so she dropped the guy. She couldn't be around this guy. He's arrested for fraud. And he did an interview recently with the daily mail. They're so tone deaf people are. Rich people mainly, mainly rich people. Whether that money is earned or they or the extort or embezzle, I'm talking about people with a lot of money. They're just fucking not in the same headspace they need to be to be understood by the rest of us. The masses. So he tells the daily mail that on the night of his arrest, that was the last time he spoke to Anne and she said she'll love him forever. And then after he was arrested, she left him. She left him in a dust. Four years together and she's like, no, I'm done. Not even a goodbye. She ghosted him. You ever been ghosted? Oh my God, it's terrible. You don't know what the hell just happened to you. The night before you talked about someone who thinks the world of you, the next day it's over. Very strange sensation. But in this guy's case, he knew he fucked up royally, so I mean, they look, this guy had a fairytale life. He meets this beautiful budding movie star through mutual friends. They went out to dinner, they had dates for a few weeks or months, whatever the fuck it was. They were in love. But things didn't go well. And she would later tell another magazine that he was W magazine. That him being arrested was like having the rug pulled out from under her. And she was so upset that she spent a week in shock at a friend's
Invest Like the Best
David Vlez on Building the Branchless Bank
"So david i think an interesting entry point here is fun and interesting once since the news was just announced that berkshire hathaway made a very large investment into your company. And you just told me that they're the largest bank investor ever so that's quite an interesting dynamic. Can you walk us through this story. Why do you think berkshire was so interested in your business out of this down. To be completely honest we never really considered him as potentially investor as we've seen him very actively investing in traditional banks. Intriguing convents where one of the biggest investors and goldman sachs surprises. Today they to be best for bank of america and they tend to look more traditional recumbents in more mature industries but we had a conversation with them a few months ago and they started digging in and they were very very curious can really really good questions about the market size of the unit economics of the business about cohorts very thoughtful understanding financial services. In what we're doing here in the mark because howard getting with some of the traditional banks in latin america and in a few weeks they were very excited and very willing to lead around in. No bank can so for us has been we see days and i think the market has proceedings a bit of the big validation of the business model validation of or ability to show bags eventually your ability to surpass traditional banks in the future financial services. What do you think are the most important differentiator between what will call the incumbent banks that maybe berkshire invested in more traditionally versus new bank. What are the largest important differences for those out there listening to understand the thing. The first one is the consumer obsession and a culture that is based on consumer obsession. Nah i don't think this is shirley specific to financial services. I think what common denominator of incumbent industries either financial services. You look at insurance or even media or transportation is that after. Let's say six. Seven decades of traditional capitalism you ended up with a number of players oligopolies where four five companies effectively owned the markets.
AP News Radio
Warren Buffett Resigns from Gates Foundation
"Berkshire Hathaway chairman Warren Buffett has resigned as a trustee of the bill and Melinda gates foundation bill and Melinda gates revealed they were divorcing after twenty seven years of marriage but said they continue to jointly run their foundation one of the largest philanthropies in the world Warren Buffett is one of three members of the foundation's board with recent donations he's given more than thirty three billion dollars to the bill and Melinda gates foundation now he says he's resigning in a statement Buffett said he's been an active trustee and that he's resigning from the post just as he's done with all corporate boards other than Berkshire Hathaway Buffett is now ninety years old describing his job but that said I'm clearly playing any game that for me has moved past the fourth quarter and into overtime I'm Jennifer king
Acquired
"hathaway" Discussed on Acquired
"Hardware suite i've because you have to but they're the most connected my to carve out suburban the first is i somehow never saw goodfellas until this week and that movie is just so choice on so many levels. I mean it probably came. Just because i- listeners will know i just finished the sopranos and that was my previous carve out and wanted more and the cast has like twenty five overlapping people. It's the same freaking people. It's amazing but it's it's a frigging work of art for anyone who has who hasn't seen it. I mean it's like scorsese. As bast it's amazing direction. It's amazing cinematography that dialogue is exceptional. It's just a just a tremendous person's life. I've never been like a gangster movie person. Harare thought i was but this is so good then the the og. I have not seen it. I have to watch it. It's great and it's not like you know like obviously there's the godfather and i've got a long rabbit hole to go down like truly. Oh gee just watch one to don't do that. That's what i hear. And then my second one is the goodfellas soundtrack. It is like hit after hit after. Hit a george harrison eric clapton and aretha franklin and the the film sort of finishes with layla by derek and domino's and that is just like wrap up any epic epic story. I think we had the rights which layla the electrical trinity cousteau electric. Although the acoustic is also great is great. I'm an electric fan. They're both the electric creates more of a the sort of like epic conclusion mood that is appropriate for that will right air clapton and see if we can get the rights to use that on the fate out of this episode. Great great actually. We probably won't. I'm sure for sure whether or not you're a fan of of the movie of seen. Go listen to the soundtrack on spotify. So great when dino when goodfellas came out early nineties. I wanna say like ninety one something like that shortly before the solomon brothers scandal while while warren was still in his his real heyday. Exactly exactly all right. Listen we're going to leave it there with that. Thank you so much to our sponsors. They've been wonderful tiny cap chase vouch. Go check them all out. We have a slack. You know this come hang out with us. you'll like it. We have an l. p. program for people who want to be closer to the show you get to hang out on the zooms live with us or with people like brad stone when we're recording a book club episode with them. It's super fun. And frankly i don't you know all that stuff is great and if you want to engage more deeply in the show with you should but you know there's nothing like sharing an episode with a friend or social media you want to but just passed this along if he liked it. David i love getting to share these stories with new people. So and thank you for joining us on this journey. We're so lucky that we get to do this. And it's so much fun but like this has been a whole new level of fun. At least we saw eleven pm wrapped in this room for four hours. It has so funny. Awesome all right. Listen thank you so much next time. We'll see you next time..
Acquired
"hathaway" Discussed on Acquired
"For thirty seven billion dollars in berkshires largest deal ever bigger even oh skipped over the railroad in two thousand nine the but they finally ns about the railroad good for that. That was a good deal. That was yep that has done well for berkshire warren buffett from two thousand and eight to twenty eleven. He was good. He was good in those years but precision cast parts man of for thirty seven billion dollars last year. They took a ten billion dollar right down on that deal. So that's a dog. Then the worst though we elitist do. Oh my god tony sixteen. He starts investing in airlines. This is the who said that he was going to shoot down. Orville and wilbur. What was he thinking. Well the interesting thing is so. He sold the airlines in a panic sale. Right when the pandemic dip started and we all know of course there was about five days where you can actually buy the dip. Before it came skyrocketing back and we didn't endure a real market crash in this global pandemic 'cause monetary policy. Anyway jerome powell yeah. Buffet basically sells at the bottom with these airlines. And it's interesting. Because i don't fault him for the sale. It is a very reasonable thing to sell the airlines. Then because if the government didn't bail them out they could have all gone to zero. I mean the government was paying some airlines payroll to sort of make it through that period. So i don't even though he sold it. I think right around the worst. The bottom i blame the by your knew that he even had a comment years before that he had sort of like a is it like a romantic fascination or like a dirty habit about the about owning your lines or something like that like he knew and he still did it like the newspapers anymore so he wants airlines now to be fair to worry and again the scuttle but it here is and there's some comments to this effect that it actually was. I think ted who i got interested in the airlines. And they talked about it. You know and then warren so okay. It's kind of funny..
Acquired
"hathaway" Discussed on Acquired
"Yup see you can see for somebody like lear. This is total speculation rumors. That is line. This never been confirmed one way or the other but supposedly the other candidate. According to remers. Was david einhorn from a greenlight capital. I think they miss hedge fund manager but for folks like that like it's not attractive value proposition really to go work at berkshire but for todd. Who's running a small one hundred million dollar hedge fund right. This is the chance of a lifetime when this interview came out. I don't know a few years ago. Maybe more the capital pool for each investment managers. Thirteen billion dollars so like even on its own. It's a very large hedge fund. Even your little sliver that you're managing yup so huge opportunity for todd. He joins at the end of two thousand ten. It turns out though that warren charlie did not time but they weren't actually done hiring they were going to bring on as they referenced in two thousand and six they're gonna bring on several candidates. You know how we talked about on the. We haven't talked about in this series yet but we talked about this on the pinto. Joe episode. That warren does these annual charity lunches that he auctions off. The auctions actually happened on ebay which is amazing. That's awesome and i didn't realize the charity is the glide memorial church here in san francisco great great organization involved in many great things over the years in two thousand ten the same year where this is all going down. An anonymous bidder pays record two point six million dollars for lunch with warren and the next year in twenty eleven it turns out it's announced that the same bidder paid two point six million dollars again so one person is paid five point two million dollars for two lunches with way. Ted gets the job because he paid for lunches with him twice. Millions of dollars five million dollars for a job. God yes listeners. Of course we talking. About ted ted wetzlar. The other investment manager at berkshire today was before berkshire running fairly large. Two billion dollar hedge fund called peninsula capital advisors That hebron running for twelve years. He'd been immensely successful over those twelve years. He had over twelve axed. The capital in the fund so done very very well ran a concentrated portfolio his top holdings davita and direct tv. And he for two years in buys the lunch with warren and he impresses. Warren is so much in these lunches that they agree to deal to bring ted on. That's crazy that crazy and so. The wheels have to start turning at this point for listeners. Out there like okay. So ben you said there. Each running thirteen billion dollars to they get to run their own hedge funds. This is something that. I don't think we totally know what the decision making process is. You know how. How much are they there to execute the sort buffett and munger style versus. How much are they there to say. Look we we have a risk profile that we're comfortable with. Here's how we've been doing it. Go to town. Yeah i think the answer is. It's somewhere in between in terms of how much autonomy todd and ted have versus warren charlie so it turned out in two thousand eleven the same year as ted joins. There's a little bit of a scandal member. We told you to remember the name. David socal well in twenty eleven. Berkshire acquires for choirs. A chemical company named lou brazil for nine billion dollars. It turns out that the person that i got interested in acquiring said lieberthal company was david socal then running the energy business with in berkshire hathaway and widely assumed and buffet had basically implied that the name on the envelope to be.
Acquired
"hathaway" Discussed on Acquired
"Owned jewellery chains in america to go by yup and this is real like one thing that becomes clear in that. You know warren keeps harping on. Were so big. It's hard to move the needle and like that's really true. Great he has been forecasting this for twenty five years. That's really true at this point. Lake the law of gravity tying berkshire to the s. and p. Five hundred is like there's a lot of gravity. Yep so the giving pledge of course. It's like two thousand six when warren mixes major gift to the gates foundation. But it's not until two thousand ten that they all launch. The giving pledge wanted a takes a long. I assume it took so long because not too. Many people wanted to give away a lot of money in the intervening years between two thousand. Six and two thousand ten has a little thing called the financial crisis happened. Dun dun dun as discussed so many times on this show beginnings of airbnb and uber and cryptocurrency and on and on and on what's that article embedded into the Genesis block of bitcoin. Yes it was chancellor on brink of second bailout for banks which allegedly is mocking the fractional reserve banking system but yes it is a very deep reference in the midst of the financial crisis indeed indeed. So here's warren an entirely too. He's freshly unencumbered by the weight of having to deal with his wealth. He's back in the saddle. He's not literally unretired but like figuratively unretired again for the third time ready to go to work and he entirely have seen this movie before they were there they were leading players in the dress rehearsal of solomon in the early nineties so the lake i well. I think we know what to do here. The whole thing kicks off. I remember this so well. In march of two thousand eight. When bear stearns the storied investment bank failed. Just like solomon. the problem. At bear was nominally. It failed because they had to in-house hedge funds that were mortgage backed security hedge funds in those had huge losses white failed. It failed because bears counterparty stopped trusting their paper and stop being willing to trade with them like we saw salomon. A huge amount of their capital base turns over overnight. Because you're settling trades and you've counterparties on this trade if your counterparties no longer trust that you're good for the money they're gonna stop trading with you and then it all vicious cycle comes to a screeching halt. That's what happened with bare so during the course of one week in march from march tenth through Which is monday through the end of the week. Which would have been the fourteenth friday. So bear stearns stock head started the week trading at sixty three dollars a share and by friday the toast. They're bankrupt over the weekend now. The fed engineers and asset sale to.
Acquired
"hathaway" Discussed on Acquired
"From january again. We can't move on fast enough warranty so before. The tech bubble pops. He does one more surprising to outside. Watchers move which is in nineteen ninety nine. He buys a utility company berkshire bang utility company. This is what warren has come to like the leg. Company that provides electricity. He buys mid american energy holdings and people wanna know why why why aren't buying a utility rates in. The snowball wire was already being ridiculed for his refusal to buy technology stocks. Now he had bought the light company. How dull the energy business gets up. Did a fine for berkshire like. It's another fine of those at least money. they're fine. It does come though with two managers that warren seems to greatly admire by the way we talked about this in the pre show. But we haven't yet talked about it on the said you know how you see berkshire-hathaway real estate agents all over the place. Oh yeah that came. With mid american energy holdings they also had a real estate brokerage so weird. How does that work like. My understanding of the electric company is that it's like a public utility it's market by market. Then that were some of that must be private companies. Yeah i don't know exactly. I mean there are lots obviously lots of utilities separate utilities different geographies all across the country. Yes somehow they had a real estate brokerage in there as well so there is. Ceo of the company. One david socal and the number to remember that name ever remember that name. His number two guy named greg able the just announced to remember that name. Ceo of berkshire hathaway. Yeah that's how they come into the company where you hear much more about that later. So okay finally. All this tech stuff comes to a head in the two thousand annual meeting where warren and charlier just getting pummeled by questions from shareholders onstage in the arena asking what on earth they are doing. Why do they not own technology. Stocks everyone else's getting these five x.'s. In a year what are you doing here. Trying to make me fifteen percent. You're making me poor. Warren says quote. I don't want to speculate about high tech. And then of course he goes on to speculate. And he compares the whole thing to a ponzi scheme. And then charlie jumps in. This is my favorite. This might be my favorite charlie moment of all time. Egypt said eddie says the reason we use the phrase wretched excess is because it produces wretched consequences. It's irrational if you mix raisins with turds they're still turds all time great quote. I don't know if there is a video of this if there is i haven't seen it but i can just imagine like the entire just being like shocks like charlie munger. Just say turds like what. I think alice actually says that lighted the the snowball. But if you think about what each of them is saying it's telling it's actually quite different. Warren is saying. I don't understand this stuff. I refuse to engage not unannounced ponzi scheme. Charlie saying some different here he gets that there are raisins in the text. Acts like microsoft. And like and you know they're they're real companies in there but there are also terrance and microsoft may be doing great but if in win this whole tech bubble pops and it will splatter from the turds is gonna get all over your reasons to and dragged down and when moran says i don't understand this thing it's upon scheme he's referring.
Acquired
"hathaway" Discussed on Acquired
"What thirty-five acts on their initial investment of the stuff that they own that are public markets. Before they wade into apple. Which we'll talk about later. Coca cola is their biggest single holding of stock that they don't wholly own business. Yeah it of course no longer is but yeah i mean. This is huge evan. This is one of the key legs of the berkshire stool is coke and also speaks to how different the company is now. You can barely see the coke equity value in there. Okay so back to the meeting of these two businesses here so in nineteen ninety seven. There is this amazingly perfect moment. I think this moment kevin marks A major transition point in business and industry in the world and it starts at the rise of tech and the rise of the internet and how much the world is going to change at. it reminds me of. There's the famous quote in history. I think it's about germany. Like eighteen fifties where the quotas the german history reached. Its turning point and germany failed to turn. This applies to worrying here. Investing in corporate history reached. Its turning point and warren. Fales too tired. So summer nineteen ninety-seven. We are at of course the allen and company sun valley conference and there is a panel discussion hosted by don keough with the participants three participants being one warren to roberto goizueta at the ceo of coke and three bill gates so here it is old school like the consumer brand coat and bill gates and microsoft and warren on the same stage. Everybody thinks this is going to be like a back affair. You know maybe sort of a genteel changing of the guard or something like that. But bill goes off script here so bill would later say that he meant this as a compliment but he trots out warren's him sandwich freeze when talking about roberto and done onstage. The the moderator of the panel is the president of coke and you've got the ceo of coke as one of the participants and then the other participant is like the largest shareholder and coke right and gates. His friend gates says it like you guys got it easy. Ham sandwich could run your business. And he is that to microsoft. He contrast that with microsoft where he says running microsoft is such a high wire. Act that he suspects. He's going to have to retire before he gets too old like indeed well before he gets age sixty because you need a young person. Incharge who can adapt and navigate the constant change in the technology. Business is the other panelists. Roberto is sixty five and tragically later. That year would die unexpectedly very quickly of lung cancer. Don is seventy one and warren is sixty seven so gates's literally to slapping them all in the face here and roberto sort of has the sort of stereotypical fiery cuban temporary here. He is hugely offended by this. I don't think he walks off stated he never talks to gates again for the rest of his life after this episode. I don't know how don reacted to it. Warren kinda shrug it off like he does like bills my friend. He's built. He's kind of like he's like a wild animal. You can't like brigham in public too much but the thing is like this is a major social faux pas and gates's part but like he's totally free and right all he's right and it is clearly. This seminal moment for warren where he sort of like looking laughed and he seeing the past he seeing the things he already owns these seeing these cash flowing..
Popcorn with Peter Travers
Summer Movie Preview 2021
"From memorial day this weekend to labor day movies will come in three sizes. They will be big. They will be bigger. They'll be max. I mean this. Is it what else. But this kind of size n shameless showing off is going to get all of us back into movie theaters. Where all weary from the pandemic. We wanna get there. But we're a little afraid. So this movie summer hollywood's whole future depends on getting you to get up and go to the theaters and to do it. They can't show you what we saw for the past year. Little independent movies that you can watch on your laptop or on at home. They've got to give us blockbusters and we start with first movie to begin the summer. The quiet place part to the sequel to the twenty eighteen box office smash it made like three hundred and forty million dollars on like two hundred dollars. Whatever it costs john kuczynski to make it. And it's in this post apocalyptic world where if you make a sound you die. He demands that you see it in a theater being cost to get that suspension all that horror of creeping around in there not make a sound. It's all over for you and you know that's where it needs to be seen in theaters where everything's dark and everyone can hear you scream. Our next up on my list is crew. Allah years of moving where disney broke the bank on this kind of stylish punk rock fashion show kind of thing. It's an origin story. Baccarat so it's not glenn close anymore to emma. Stone twang are and we see her. As a lonely orphan girl in the nineteen seventies in london trying to be a fashion designer like anne hathaway in the devil wears product. In this case the villain of the piece is played by thomson. It's not as scary as that first one wise. But but they try amortize and she learns the dirtiest. Pg thirteen tricks. In the book to foil impetus
The Book Review
Maggie OFarrell on Hamnet
"This is john williams in hammett. Her eighth novel maggie o'farrell imagines the life of william shakespeare. His wife anne hathaway or agnes and the life and death of one of the couple's children hamlet who died at eleven fifteen ninety six in o'farrell's novel. He died of the plague. And the book imagines the impact that this event might have had on arguably shakespeare's greatest play hamlet. Hamlet won the national book critics circle award for fiction and it was named by the new york times book review as one of its ten best books of twenty twenty with the editors calling it a bold feat of imagination and empathy and magill. Farrell is here to talk about it from edinburgh. Hi how you doing. i'm good. What do we know historically. That's in this novel. How bearer the bones that you were working with when you sat down well i they expire himself is quite a shadowy figure. There's an awful lot about him. We don't know despite the very best efforts of the world's most brilliant scholars and shakespearean academics. So it is mysterious. You know we only have six examples of his signature which is spelt differently so there are lots of lawmakers and gaps in his story. If we think we know very little about him we know even less about his wife. The woman weeping told to call anne hathaway and his children. We only hamlet himself. The boy is lucky if he gets possibly to mentions in these big biographies of shakespeare them night and he was born and they mentioned that he died in fifteen ninety six. But i see i mean to be honest. That is all we do know about little. Unfortunately
AP News Radio
Marchand Scores in OT, Bruins Beat Capitals to Even Series
"Brad Marchand scored thirty nine seconds into overtime as the Bruins beat the capitals four to three to even their first round Stanley Cup playoff series at a game apiece the Bruins trailed three to two in the third one Taylor hall tied the game with two forty nine left in regulation garnet Hathaway scored two goals for Washington Jake DeBrusk and Patrice Bergeron scored goals for Boston goalie Tuukka Rask made thirty six saves for the Bruins while Craig Anderson made forty four stops for the capitals Craig heist Washington
Bruins Beat
Who’s the Preferred Match-up for Boston in the First Round of the Playoffs?
"What team is a better matchup for the Bruins. Maybe in terms of itself cuz I mean, let's be, let's be candid. You know, lead into this at either match is going to be tough, right? Either one of these ones, you're like, all right? Well, that's what it is, right. Is it thing though? Like, so I feel like the looming thing with capitals is that, you know, any team is going to play them is going to give the shit kicked out of them. But yes, you know, they're finishing their big team. They've got Tom Wilson, they've got Hathaway, they've got Dylan Char, all these, all these big guys, but I think you look at how you best exploit a team like that. It's easier than 14. Like the Bruins, what their strengths to land punches against a team like the capitals on the ice in terms of you know, the X's and O's and it is the Penguins. Now, Penguins may not be nearly as big but you look at just the way the Capitals defense is, you look at how Scholl they are on defense, how the Bruins right now especially up front, all of a sudden have all this speed in their line-up. I mean they've God Top six is the top six even though Richie Crowley coiler the physical track and wine, those guys can move, you know, really Sean Crowley is, you know, a very good skater and events or fourth line. Now. It might depend on the match of, you know, do you want to roll out debrusk and kacchan? The 4th Line? Or is that one we go with Lazar with Frederick and Wagner so that, that can change a little bit in terms of the max but you look at the, the, the defense of the capitals have. I mean, the Bruins average close to three, three point six goals per game, against the capitals. The only team that scored more goals against against Atlantic division. Foes our East Division, foes was the same Choice which makes sense, not surprising, but the fact that, yeah, the fact that, you know, Washington who has a slow defense who do not really have to lead goalies in that, which, I mean, I think the biggest equalizer for how much the cap wasn't given the Bruins trouble of these has been because of brain. Hopefully now you've got vanicek and samsonov two guys who don't really ski all that money. Trade. I just look at the matchups and what the Bruins are going to go up against. Yeah, you're going to get knocked around quite a bit but it's