35 Burst results for "Jamie Diamond"

Investing in Bitcoin

Animal Spirits Podcast

05:08 min | Last week

Investing in Bitcoin

"All right we are joined today by zach. Prince and ceo of block fight zach. Thank you so much for coming on today. Guys them so pumped to be here. I listened to your show every week for the first time. I've been nervous to go on a podcast public speaking in a while. Because i'm just so happy to be herbs so excited to be the first guest talking about cryptocurrency on the animal spirits. Podcast i think is a longtime Well thank you for saying that. We are excited as well. We actually started this pocket. And i were just talking about this in november twenty seventeen so right into the teeth of bitcoin mania and we'll get into two point out. I don't think it's quite the say manic fever that we saw in december twenty seventeen. But why don't we just start off briefly for those who don't know anything about you. Give us a quick introduction. Who are you zach. The founder and ceo blocked by. I grew up in texas. I was always kind of an entrepreneurial slash math in finance minded kid. I guess i actually put myself through college as a semi professional online poker player so unlike a lot of folks are generation unfortunate to not be carrying a big amount of college debt. I always wanted to work in the financial services industry. But i finished school in may of two thousand nine so i ended up working in an advertising technology startup that was ultimately a really successful venture. We got acquired by google. I spend a little bit of time at google but learned that. I really enjoyed building things and being at smaller companies left google to start another ad tech business that got acquired and then more recently and most relevant for blocked by i was working in the fintech sector specifically the online lending side of fintech. So there was a big boom in that industry appear to peer lending online lending and alternative investing and i worked at one of the companies. That was the biggest aggregation of data provider of technology solutions to institutional investment firms that were participating in that asset class. When i was doing nat i became kind of like the fintech guy within my friend group and i started writing a blog which i don't think rather i just i didn't stay with it as well as the Clogs and built up a readership but writing. This blog is what led me to discover bitcoin for the first time back in twenty fourteen and one of the things that struck me about it initially was a lot of what happens in fintech is just a new front end on top of the traditional financial system. So you're doing something that banks already do but you're doing it with a mobile app with a much better user experience and it's faster and easier. You don't have to go onto a branch when i learned about big like. Wow this is something truly different. You've got a brand new asset built on top of payment network where i can move something around the world. Twenty four seven and it's not using any part of the traditional financial ecosystem. So i was screaming to no one on this blog and twenty fourteen. I think you should be taking a flyer on bitcoin. Maybe it goes to zero. But with a little bit of capital you should be investing in it and then from there kind of slowly and steadily went down. What people in the crypto currency industry referred to as the rabbit hole and ended up starting block five around the same time. You'll start started this podcasts. In the fall of two thousand seventeen to before we get into what blocked by does specifically. How do you explain bitcoin. Someone who thinks they know what it means or has no idea in is never really entered. This base of workers obviously digital ledger been well. I mean i think one of the actual biggest positives about bitcoin. The fact that the narrative seems to change so many times over the years. But how do you explain it to someone who doesn't really know what it is one of the things. I like to start with when i'm explaining bitcoin. People is the best analogy and kind of story. That i've ever heard demystified a little bit and the story is actually about the platypus. So back in the sixteen hundreds explorers from europe. We're going all around the world. They got australia. They found the platypus and they sent some specimens back to europe on the ship and the scientists back in europe rigidly thought. They were playing twisted joke on them. And they're like this animal can't be real. You stapled together a duck in beaver and you're telling us this thing lays eggs like there's no way this is a real animal. It took the scientific community about fifty years to actually accept. The planet was a real animal. Create a little part of the animal classification kingdom that incorporated the platypus. Another funky animals like it but the platypus was very real and the problem that bitcoin is had is kind of this platypus problem in the traditional financial services industry. Where is it. A currency is it. An asset is it. A commodity is security is at a payment network. Well it's not really any one of those things in a silo. It's a little bit of all those things and it's something completely new but it definitely exists and the reaction from votes whether it's jamie diamond or others who are now coming around to it but back in twenty seventeen. They were saying bitcoin fraud. It's a scam. It's only used by folks who are doing illegal activities. Those types of things come from a position of not actually understanding.

Zach Manic Fever Google Bitcoin Mania Prince Texas Europe Australia Jamie Diamond
IBM's Ginni Rometty is stepping down as CEO

Squawk Pod

03:50 min | 11 months ago

IBM's Ginni Rometty is stepping down as CEO

"In corporate news. IBM says its longtime CEO. Genie is stepping down effective April. Sixth Rometty has served in that role since two thousand and twelve eight years Arvind Krishna. I know it's been tapped as her successor. IBM says remedy will remain executive chairman through the end of the year the stock rising on the news. Oh here's a look at how. IBM shares have performed under remedies tenure. In the eight years but she will have been there through that time under the during that time we could see right there. It's down by about about twenty three percents it's been a a saga and it involved. It involved massive turnaround people like Warren Buffett. Who probably I believe when he was in the stock and I I've had some other people? I guess I won't go into people that all along said look. The revenue is not is not rising zing. And it's not goodbye hit other people and I think Jeff's Asana thought it was gonNA come out and make the case. It was very difficult to position. IBM for the future is in a difficult spot. Somebody said to me you didn't think about it. Initially someone said Oh. Is this a laugh glass cliff situations and I said I don't think so from you know they talk about. Sometimes when women are put in positions of companies how position on fixable position with Yahoo far they wrote articles about Mary Barra being put in this position. GM borrows done very well or this is at the time when she got the job. You would have never known how difficult it was ask. Because their predecessors appeared to be rockstars and yet they really left her holding the bag the whole time was trying to get rid of what she called. The was at the calories Sir revenues revenue that was not profitable and that was not going to be. This isn't even trying to transition like a Microsoft future. which was when did that camera? Nineteen eighty eighty or something this the fifties and sixties in big blue and John Acres and it had had to be repositioned a couple of times. Already Gerstner I had to come in Palmisano. Had to come in and turn it around so I mean have. IBM to even know what it is anymore. How about digital equipment? Anyone remember member digital equipment. How about data general about signed computer? How about what was that? Novell remember the biggest high flier in the world was novell and they're just totally elite. It's been tough and there are some people that think with Whiter. Seren Red Hat. Maybe it's position well for the future so I don't think we can. We can talk. I take away. Yes sharing that in Sonnenfeldt said that's not the first time journal says that's an interesting issue but how to measure her tenure. You're by the way you should. I mean you probably have the same emails than I did. There's so many people in the CEO Community who love her Jamie diamond. Tim Cook I mean the list goes on and on I think talking do. She's on the show. This is round table with Jamie but in terms of measuring her legacy legacy. You're either gonNA say she kept the company alive at a time when it was a real struggle or if you if you have a less generous view she didn't do what you what could have done so counterfactual I mean you really have to think you're in a position to take one of these legacy company that has a mainframe in frame or whatever it was. There's a lot of examples of companies that do something in the old days. They didn't become facebook Google. They didn't become even Microsoft. They didn't try new. Oh companies seem to take that man with guys in the guys in their garage. Just tell del there in the garage and they figure it all out under subtly. It's even better than the previous thing and even have. IBM still around in playing in the cloud as a viable competitor. And I don't know I don't know how to measure.

IBM Microsoft Executive Chairman Arvind Krishna Warren Buffett Mary Barra CEO Novell Rometty Jamie Tim Cook Ceo Community Jeff GM Palmisano Sonnenfeldt John Acres Yahoo Facebook
Trump Talks National Populism in Davos, Switzerland

The McLaughlin Group

03:39 min | 11 months ago

Trump Talks National Populism in Davos, Switzerland

"Addressing the World Economic Forum in Davos Switzerland this week president trump double down on his guiding principle of national populism nations rather than global architectures are best placed to sub human interest trump said many others at the summit disagree they say the concerns such as climate change can only be addressed by global action an editor I should clarify that that video with the music was a White House but you're not not mine but do you see how do you see double sometimes of the truck nationalist populism buses this sort of more global stock well New York times one of the headlines was the Davos solar guards flocked to trump calling and the cold and the Davos man me two years ago he I think he was there and he was you know widely disdained he seemed to come across like a bit of an ignorant fool in their eyes well now they like the economy they like power they think he might be reelected and so again just as the impeachment trial is all about raw power so is Davos and so the president knows how to play that game he invited a number of the Davos elitist to his signing of the reason outside of the of the trade agreement with China and he's kind of loving the fact that the markets are doing well and says you know give my best to Jamie diamond but there's a big cleavage there in terms of of climate in particular Jim do you have how serious do you think president trump is about shaping a legacy narrative all of you know a return to the nation state on on how much of this is trumps effort to mobilize a domestic base that that likes that idea I mean if you go back in and watch interviews with Donald Trump the date back to the nineteen eighties the most consistent theme of his political flight which is involved in a in a lot of different ways in other areas is the idea that the United States is being screwed over taken advantage of by foreign countries by foreign governments and that there needed to be some powerful figure elected who would put a stop to that and trump's election coincided with the trend of of national populism throughout the western world to varying degrees different political parties having different degrees of success of pushing that message and and I think the visors and aids close to trump of tried to own that political instincts that basic instinct and connect it to an over arching populist philosophy and so I think there is an element of of one is a legacy and show market is quite strong that sentence sounded as from the Democratic Left and very opposed to free trade is skeptical of some of this globalist architecture is actually quite close to president trump well he certainly is and I think his message of it populism is is not a ideologically specific term it's a term that could arise on the ideological left as it has on the ideological right now I think that's why you seem sustenance I was senator Sanders and look I I think it's not just the doors in the Midwest I think if you talk about African Americans in the south who have seen global legislation impact their communities a loss of jobs as manufacturers have either moved or have decided to hire a cheaper labor south of the border and so this is an issue that I regardless of race impact people's so I think Sanders message of social economics which is very similar to president trump's early on it

Switzerland Davos
Capital One is sued over data breach in proposed class action

Joel Riley

04:16 min | 1 year ago

Capital One is sued over data breach in proposed class action

"That Capital One that data breaches is a Biggie right sharing yeah we're talking about the personal data of over a hundred million of people possibly hacked into this is an unusual one because there's an actual suspect in this on a lot of times they'll tell you you know there's been a security breach of their spent hacking and they they don't really have an actual person or a name or a suspect on this and this one falls a thirty three year old woman by the name of page Thompson who left an online trail that you know made it surprisingly easy for a federal investigators to track her down and figure out who she was and actually charger with this she used to work at Amazon web services which is the the big host of a lot of a lot a lot of companies including Capital One the database it was breached this woman belong to several different chat rooms and she was in a slack group where they talked about packing companies and basically she actually said I've basically strapped myself with a bomb vest dropping Capital One docks and admitting it so federal prosecutors got scratching their head when it comes to that when it comes to actual consumers those of us who might have Capital One credit cards in our wallets even though the personal data of over a hundred million people was affected by this Capital One is saying that the you know ninety nine percent of those nothing got out and a hundred and forty one thousand people they've had their social security numbers looked at eighty thousand people had their bank accounts looked at so it is a lot of people but it's not as many as it sounds like from that from the opening offset yeah so when you boil it down those you know hundred forty thousand with the so should on an eighty thousand with a bank account on you know that information out there the recourse is they're going to offer free credit monitoring service and then if it gets rocky they'll take care of you how they play that right right if you go to the Capital One website you can just Google Capital One cure credit hacker even Capital One and there is you go to the website at the very top there is a link there that says information about the recent security breach and they've got a long list of you know who it involves how much involved what they're going to be doing they say that they will notify individuals through a variety of channels according to their words are considered to make free credit monitoring and identity protection available to everyone who is affected what you can do now if you you know you're one of these people are not keep a close eye on your bank account if you do it online do it from a secure wifi location don't do it from an open why fight location think about getting additional security protection LifeLock one of those things I mean if you can it's like you know ten Bucks a month or something like that you might want to do that for a while and just sort of keep an eye on what you've got going because you will be able to talk to Capital One into the folks there about what happened what might have happened one more quick thing to keep in mind the a lot of the people who had a hell or hacked into were filling out applications for secure a credit card to what that is is the credit card you have to put a certain amount of money down so that you can even get Dale a credit card to use do things like rent a car and things like that so those are people who already had the credit that was questionable okay now is this that might make it even doubly worse for them so keep an eye on it you know me keep an eye on your bank account make sure you're looking at it make sure you're monitoring it to at all times because that could really hurt to people whose credit was already heard in the first place yes from what I read it went down on July nineteenth so you know July thirty eleven days later we're learning about it this seems like a quicker turnaround than most of them yeah exactly Capital One found out about it what they did was they didn't release at all all right away they actually to the feds and said look we think this is going on to them they use those ten days to get that to to catch up with this woman and the woman was pretty brazen online she's saying all the stuff that she's doing it but you talk about anybody in the financial services business they almost constantly or talking about how much money they're spending try to stop the security test Jamie diamond recently saying eight you know that that they spend six hundred million dollars of his company you know trying to stop these credit hacks it's something that they're constantly monitoring constantly keeping an eye on it it's not going away so just figure out a way that you can keep your information safe

Six Hundred Million Dollars Ninety Nine Percent Thirty Eleven Days Thirty Three Year Ten Days
"jamie diamond" Discussed on The Last Word with Lawrence O'Donnell

The Last Word with Lawrence O'Donnell

02:44 min | 1 year ago

"jamie diamond" Discussed on The Last Word with Lawrence O'Donnell

"She asked Jamie diamond how that single mother could possibly possibly stay solvent short five sixty seven. What would you suggest she do? Are you know I got to think about that. Would you recommend that she take out a J.. P. Morgan Chase Credit Card and run a deficit. Listen to think about it. Would you recommend that she overdraft at your bank and be charged overdraft fees. I don't know what other think about Jamie. Dimon still doesn't know and is still thinking about it. He's never come up with an answer but now his chief lobbyist wants to talk to congresswoman Puerto J. P. Morgan Chase head lobbyist Jason Rosenberg wrote cars when porter a letter saying quote we have a large employees and philanthropic footprint in California's forty fifth congressional district and would like to provide an overview of the work. We do throughout Orange County so what will Katie Porter do. We'll she meet with Jamie diamonds chief lobbyist and see if he's figured out the math on how a single mother could possibly stay afloat on that entry level wage. Jamie diamond pays J. P. Morgan Chase will ask Katie Puerto of that and more when she joins us after this break when cars were in Katie Porter pressed. Asked the chairman and C._E._O.. Of J. P. Morgan Chase Jamie Dimon on how a single mother could survive on the entry level wage that he pays at J.. P. Morgan Chase Jamie Dimon eventually came up with the idea of calling up that single mother and seeing if he might be able to find find a way to advise her toward solvency to call up never conversation better financial affairs and see if we can be helpful see if you can find a way for her to live on less than the minimum that I've described just helpful well. I appreciate your desire to be helpful but what I'd like you to do is provide a way for families to make ends meet and joining us now is Democratic Congressman from California. She's a member of the Financial Services Committee cars imported. Thank you very much for joining us again tonight so so did Jamie diamond ever call you up and explain to you. He thinks that hypothetical single mother could survive on the sixteen fifty an hour absolutely not it's been three months to the day since we had that exchange at the hearing and I finally received a five sentence letter from his lobbyists not from Mr Diamond himself and the letter basically says that they'd be willing to meet with me in my congressional district to discuss their philanthropic quirk and I'll be honest with you my constituents they work hard and they want to be able to make ends meet themselves. They want to be paid a living wage so they can go into the grocery store and take care of their families..

Jamie diamond Katie Porter Jamie Dimon Puerto J. P. Morgan Chase Jamie P. Morgan Jamie diamonds J. P. Morgan Chase J. P. Morgan Katie Puerto California Orange County chairman Congressman Financial Services Committee Jason Rosenberg three months forty fifth
Jamie Dimon and other CEOs sound alarm over trade uncertainty

Marketplace with Kai Ryssdal

02:38 min | 1 year ago

Jamie Dimon and other CEOs sound alarm over trade uncertainty

"There is a certain amount of public service journalism to be done on the American economy as we come up on the halfway, Mark of two thousand nineteen the headline numbers are good consumers are confident and yet and by yet, I mean, trade because everybody from fed chair, Jay Powell JP Morgan CO, Jamie diamond to the farmers and ranchers and business people we talked to on this program. They say we don't know we just don't know what's going to happen, big picture. So with the acknowledgement that we cover a lot of trade news on this program, which we know it can be hard to keep track of which tariffs are on which ones are coming up in which ones we thought were about to happen, but just kidding with all of that is, backdrop the word you're looking for here is uncertainty business. Roundtable chairman Jamie diamond the aforementioned CEO of J, P, Morgan said yesterday, quote uncertainty about US trade policy is one of the reasons why the group's economic. Forecast was fine. So let us now take a step back from what is happening in trade and look at how not knowing what's happening in trade is showing up in the economy. Marketplace's Kimberly Adams has that one for big companies, there's confusion over how to keep global supply chains running can decide here as vice president at trade services company Livingston international. I've been in the industry thirty seven years, and I've never seen the last two years as it has been just so many unknowns. She says many companies have multiple just in case plans, identifying some of the risk in order to really safeguard their supply chain and curb any potential disruption. Small businesses can struggle even more Kimberly Elliott at the center for global development, points out many have to place orders far in advance to they place it in China? Or do they try and find a different supplier because they don't know what the price is going to be in for a small business. That's really a serious problem for consumers tariffs are already showing up in higher prices for things like washing machines. And with more tariffs may be coming. Some people are strategizing, for instance, our cars, getting rather old, and we need to replace it, Catherine Russ admits her job as a trade, a communist at the university of California Davis, maybe shaping her perspective. But when it comes to possible future tariffs, I don't think I'm alone in thinking that at might actually have an impact on my budget, and that maybe I should speed up some purchases that puts the trade expert in the same boat as the rest of us were all pretty uncertain in Washington. I'm Kimberly Adams for marketplace.

Kimberly Adams Jay Powell Jp Morgan Co Jamie Diamond Kimberly Elliott United States University Of California Davis Catherine Russ Mark Livingston International Vice President Chairman Washington J China CEO Thirty Seven Years Two Years
Mighty Caseys Home Run

MarketFoolery

15:42 min | 1 year ago

Mighty Caseys Home Run

"How are you, Chris? I'm not quite as rested. Yeah. I'm not as tan. Thanks for bringing the main weather with you. It is fantastic outside. It is gorgeous out. So and here we are in a window through. I know let's make this quick. We're going to dip into the full mail bag. One company is having trouble finding a CEO. So depending on what your resume looks like we may have a job opening for the dozens of listeners. Let's start with some earnings from Casey's general stores and by earnings I mean blow out earnings starting with the thunder. Are you Chris had really is Casey's general? The stock is up eleven percent attending an all time high. How good was this quarter? It was really it was a really good quarter. I mean sixty eight cents versus fifty one year ago for the quarter five dollars and fifty cents for for, for the year versus three eighty one for a year ago. The stock edgy said up ten percent and all of this came in the environment in which I think the thing that people were surprised about is that it's one of the things that Casey's does one of their big revenue items gasoline sales, and it's been kind of cruddy environment for selling gas right pricing. Hasn't been there spreads haven't been there. So for them to come in with a quarter like this. That means. Their front of store has just performed magnificently. That was the thing I was thinking about when I was taking a quick look at the results, and I just and this is not a apples to apples comparison. But I thought of Costco, because every time Costco reports earnings, you know, the gasoline is part of that question, but it really does seem like Casey's general has. Through no fault of their own invert put pressure on Costco in anyone else who is in that business to basically say, hey, look, you don't have to be victim to the whims of past prices. If you are really getting it done in the front of the store. Do you have you been to a Casey's? I've never been to a case so you know what they're about. Right. So folks here on the east coast probably familiar with wa wa or sheets cases kind of like that. But in the mid west. And so, yeah, maybe they've put Costco under a little bit of pressure, but they're really, really putting pressure under fast food restaurants companies, like McDonald's that have dominated the, you know, the travel food market for for such a long period of time. And I mean there are multiple stores. I mean I would love to be I mean while might be at the top of my list for companies that I would like to invest in that don't exist. But, you know, are there that you can't not the doesn't exist while was a real thing? But. But Casey's is a pretty good alternative. I mean, there's circle K. They're seven eleven even but Casey's may be the one that is most similar to a while her sheets. When you look at the stock hitting all time, high is it pricey because cases general, is one of those stocks that in good times, and bad has never really struck me as being pricey. No, it's okay, it's, it's a little pricey. But given compared to what else is out there in the market. I mean beyond me trading at a price to sales of thirty four I think we're fine with Casey's. I mean Casey's Casey's food margins, the margin of their store spectacular. This is a really really, well run company and it's really taking share from a lot of the quick serve restaurants. The particularly again is we get out into the travel season. You know, over the summer. I you know, I see good things for this company, they're gonna start to run up against some real competition, particularly as they pushed the east, but nine thousand nine hundred stores they know what they're doing. Let's move onto the latest in the US China trade war, and the latest hook from from the Wall Street Journal involves Foxconn which has come out and said, Foxconn is prepared to move apple production out of China. Yeah. And not only are they prepared to they could do it. They feel like they could do it rather quickly with without any disruption. So Foxconn one of really interesting things about this article was that they, they noticed they noted that the company's been public since nineteen ninety one, the actual name of the company is Han. Hi precision. This is the first investor conference, call in meeting that they've ever had the first one. Why do you think they why? Well, part, part of it in one of the reasons that they did this was that the president and founder of FOX cons guy named Terry, go is running for president of Taiwan's. We has to step down. So they're talking about some of the. Some of the issues having to do with, with leadership transition and such things. But they took the opportunity to say, by the way, we had been up in Wisconsin for nothing. We don't have massive facilities in Vietnam in Mexico in Brazil, and even Japan for nothing. We're ready and we've been thinking about this for years as the advantage for manufacturing in China has declined. So in some ways, it's almost, you know, the thing that fascinating to me in this talks about how pragmatic these, you know, the, the Chinese and the Taiwanese are with each other. It seems to be entirely uncontroversial that the potential next president of Taiwan is one of the largest employers in China. I mean, that's not even something that they're really even you know, they're not even really talking about. So. Yeah, I mean, this is, it's just interesting to see the ways in which global trade and global manufa. Lecturing are shifting based upon the potential for a long, protracted trade war. Does that automatically mean that the price of the next generation of iphone is going to be higher as a result? Let's say this act. Opposed to what? That's well, that's fair. Yeah. But, but if you're someone who loves Apple's products and you see this headline, I think it's reasonable to ask the question, wait a minute is stuff going to I? I apple has always had pricing power are gonna have even more now because if they're moving Foxconn is moving production out of China, Maya sumptious is it's going to cost more to build the iphone in Wisconsin than China. Yeah. I don't I actually I don't think so. The iphone and the ipad, particularly the iphone have had such huge margins that the manufacturing component. I mean it's like it's like if you have to spend a little bit more to manufacture pharmaceutical that doesn't really have anything to do with the price that they're able to charge me. They have really, really found a way to find to price it at the point in which, you know, the customers would still consume. So I don't I don't really think that this is an issue for them. I mean it could it could impact margin just a little bit. But that, that margin is already being impacted by by virtue of the fact that these things are being manufactured in China under under a new tariff regime. If you're. Looking for a new job? You might wanna check out the job offerings at Wells Fargo which continue to include the CEO position monster dot com may have this listed Wall Street Journal, reporting that Wells Fargo shocker is having trouble getting some of the top executives in the banking industry, interested in the job at wellsfargo, it's hard not to have just a little bit of shoddy in for about this as poorly as Wells Fargo has behaved over the last several years. Oh, yeah, no, we're definitely going to have a little bit of shot in for, you know, who else is Jamie diamond. Yeah. I like the Jamie diamond last month took a shot at them average, and I'm quoting here, he was at an investor conference and said, it's not responsible for a company just my own view to have a CEO leave with no plan in place. I don't personally understand that these referring, of course, to not just a company but a but a sustained. Important bank. Absolutely. No. Absolutely. And you know, I mean put aside. The issues that they have at the fake credit card accounts, and all of the cultural issues, although that all of those things lead to where they are right now having trouble filling this spot. Yeah. But he's got a point. I mean he shop at he's got a point that, if you're the board of directors and Tim Sloan suddenly, walks out the door. You gotta be ready. It's baffling to me that they didn't have an emergency break glass plan in place. Not saying Tim Sloan was going to leave, but they had no idea what they were going to do. So what they've what they've ended up having to do. They've gone out. They tried to get the CEO of PNC guy named Richard DEM, Jack. They went after Gordon Smith from J P Morgan, they've even gone after a guy name. Richard Davis, who was the former CEO of US Bank or Bank core. Who is now the CEO of the make a wish foundation and all of these people have said, no, we're really not interested because I mean for one thing they had to each watched, you know, when the Senate banking committee, just absolutely torch, Tim, Sloan and said, that's just not worth it. I mean this job really, really must be toxic. And there's fairy little to see in Wells Fargo Fargo's future because of caps, that the Federal Reserve has put on the Bank any type of turnaround in the Bank is years into the future. Well, and if you're Gordon Smith JP Morgan, if Jamie diamond ever decides it's time to ride off into the sunset Gordon. Smith is on the shortlist of internal candidates to replace him. So why would you leave is? And he has he has, I think the number was fifty million dollars in deferred compensation coming to him just remaining where he is which, you know, good for. Him. Would must be nice. So getting him would be quite expensive. And they really this has to be a good hire for for for Wells Fargo. So I can take why they are perhaps going slow. But the fact that they didn't have a plan in places is perhaps unconscionable. And also, perhaps demonstrative of why no one wants the job. Is it a given that it's going to be someone from the banking industry because obviously industry expertise is important, but they still have cultural problems in Wells Fargo. I think I think the answers, it's a fantastic question. I think the answer is. Yes, simply because. Yeah, they have the cultural issues to solve. And maybe that is a higher. But the bigger issue that they have is that the regulators and the Federal Reserve are down their throats, and I don't know that a non banking person would necessarily have the tools in place to be able to navigate those issues are Email addresses, market fully at fool dot com. Got an Email from Andrew who writes, it was great to see and meet many of you at full fest last Friday. Thank you for all that. You do your research inside humor makes investing enjoyable and time efficient. Thank you for that, Andrew. He goes onto right? You've certainly made me smarter happier and richer, as well as annoying. My wife when I walk around the house with headsets on listening to your podcasts. Andrew. We downside. We appreciate. The nice comments there. Don't don't unnecessarily annoy. Mrs just. No. That's, that's a self-inflicted admit it. Yeah. L which, I mean, what did you think we were going to do with? So also, we don't want any residual blowback from Andrews white. If we don't want her being, like, hey, you know, you are making me, certainly less happy. I know that's not good yesterday market fully MAC and Jason Emily talk a little bit about full fest. Our biggest event we've ever had and. One or two things that stand out for you in terms of highlights. Well, I was I had a wonderful conversation with the CEO of upward command named Stefan, casserole and just listening to him, really describe the issues around the, the gig economy around around contractors and how nearly thirty five percent of all Americans do actually have our temporarily employed in some ways a lot of whom were by choice. And I'll be honest, I think about business a lot. And I think about the economy in the way things you know, try. Things are progressing lot. But he brought up some really, really interesting concepts just in terms of the power of the worker now and the fact that perhaps the relationship between employer and employee is breaking down and maybe actually in some ways, it should that was I didn't catch all of your interview with Stefan, I caught the second half of it, it was really great. It was very enjoyable. I just say this every year, about full fest, but it's always so great. Just a meet people talk to people and get a sense of where they are in their investing life. Some people are just starting out. Some people are younger. Some people are older NAN, they're starting to think about their kids and their grandkids and sort of setting, you know, ways to pass on the love of investing for them generations. And, and it was it was just great. I do love both of those constituencies. And you at some point it becomes it becomes so. So fun for us. You know, I, I look forward every time to for example, seeing the Morgan's north family from North Carolina who come to each and every event, and they're, they're just lovely people, and you get a chance to really interact, and they see these things that are meaningful to us, and we'd like for you to do more of and carefully. People say, you know, maybe do a little bit less of this, or a little bit different. And so I can't even you know, I can't even begin to describe how valuable those interactions are for us and I do do love when, when folks bring their you know, their kids, they're, you know, their college age, you know, young adult family members and guests just seeing them begin to understand, because they have the biggest advantage of all, you know, they have all of their earnings potential in front of them, and they have so much time. And it's I mean, it's it is a wonderful that tonight, enjoy each and every year it was great. So thank you to everyone and all the, the listener. Who came up now both of them both. No, no. There were a bunch of because they're a bunch of people come up. And they're like I listen, here's how I listen here's when I listen now, and then there are people who come up to me and say, do you work here? Can you? What time is lunch? Where's the coffee which is a good question for you? Can you introduce me to Andy cross? Bill man. Thanks for being here. Thank you. Chris, as always people on the program may have interest in the stocks. They talked about in the motley fool man formal recommendations for against so buy or sell stocks based, solely on what you hear that's going to do it for this edition of market fluids show is mixed by Dan void. I'm Chris hill. Thanks for listening. We'll see you

CEO Casey Taiwan Foxconn Chris Hill Costco Apple Tim Sloan Wells Fargo Wall Street Journal Gordon Smith Jamie Diamond Wisconsin Federal Reserve Wells Fargo Fargo President And Founder Jp Morgan Andrew
 Chinese companies brace for tariff hike as trade talks begin

Politics, Policy, Power and Law

03:01 min | 1 year ago

Chinese companies brace for tariff hike as trade talks begin

"DC, President Trump says China broke the deal what they do. Yeah. Well, the accusation is that China reneged on some of the commitments that they made at the negotiating table the Chinese denied that for the record. But there's definitely been a shift in the last couple of weeks. It's looking increasingly unlikely that they're going to reach a deal in the next few hours. And if they don't well, regardless the US says that they're going to raise tariffs on Chinese goods at twelve o one tonight tonight tonight. Okay. That's right. It is Thursday. And he's going to do it at twelve one Friday morning, especially and something that you just said Robert lighthizer who is the top negotiator. And this has been calling lawmakers saying, yeah, don't don't count on this deal happening. Why call the lawmakers why give them a heads up? What happens next with that? I think it's just entered a really political phase. I mean, this this this trade where was always political. I get the feeling with people pivoting to twenty twenty the president trying to get a win especially in economic win that has become more political. And we saw that this week when the the president said that China would would rather negotiate with with a week democrat. So I think that it's become hyper politicized. And you know, whether there's there's there's two issues whether there's a deal in the next two days, and whether there's ultimately deal, I think Wall Street is still expecting some type of deal at some point Jamie diamond said this week that the eighty percent chance Goldman Sachs is is is echoing that view, but we could be in for rocky ride until that point President Trump in that bite that we played at the top was talking about hundreds of. Millions of dollars coming in through these tariffs. China's not paying that. That's right. That is a that is a misunderstanding clear that up for us. Yeah. Well, it's not China that pays those tariffs. It's American companies in the US that import Chinese goods into the country. There's also the broader issue of whether tariffs are helping the economy. I mean, there's little evidence that that is the case. I think the president believes that you know, they do help bring production back to the US. But there's no question that it is hurt business confidence. And it started to have an effect on not only the US economy. But also the global economy, I wanna talk about that a little bit more with you the on. There's a headline on the Bloomberg terminal about the president's plan to China tariff hikes could cut US growth in half. Which is exactly what the president doesn't want. That's counterintuitive to the whole plan behind this. Yeah. I think that that's probably on the severe end of the spectrum in terms of forecasts. But yeah, there's no question that if there's if there's an all out tear for we'll have an

China President Trump United States Donald Trump DC Goldman Sachs Robert Lighthizer Bloomberg Jamie Diamond Eighty Percent Two Days
United States, China And Goldman Sachs discussed on Bloomberg Daybreak: Europe

Bloomberg Daybreak: Europe

05:18 min | 1 year ago

United States, China And Goldman Sachs discussed on Bloomberg Daybreak: Europe

"Weakness the weakness being caused by ongoing concerns around trade tensions between the US and China, we have the Chinese delegation now on their way to the United States can they achieve over the next two days will the United States go through with this threat to put on these extra terrorists, and how will the Chinese we tell all of that very much front of mind. Full participants in markets with ASI minded testing to see that we all week on the oil prices. Well, so that trade tension stories he has to be outweighing concerns around supply in Venezuela and Iran and went down by more than one percents on brands and more than one percent on WTI. The yield on the US tenure two point four four percents. Is it a question of the yield just being too low to attract buyers? We saw very weak auction for you as ten years over in the United States in yesterday's session. The dollar is pretty much flat. And we talked many times about a lack of reaction in FX markets to the trade tensions. We did. See react. As I say to the geopolitical tensions just announced by Yonhap in the last half hour of money going into the yen where four cents stronger fully end against the US dollar one nine sixty seven is where we trade down there. But it is a day where we've got some outperformance in some individual stocks in their earnings reports map. But generally speaking, the story is one of concern around trade, it is for sure and to talk more about that. Let's bring in Lukic more from Aberdeen asset management out of Edinburgh. This morning. Sorry. Are we not doing kick-me overnight? Let me let me assist. I'm having a flashback to TV yet TV appearance. We joined in the studio by Bloomberg opinion, columnists, Marcus, Ashworth and markets live editor, Heather Burke. Thank you both for joining us. So President Trump saying overnight on his in what seems to be a campaign rally. It's nearly twenty twenty after all after all the China broke the deal am coming to you on this. I mean, how is the market positioning itself? What we're going to see or not see the next couple of days. If to know what is priced in is this going to be treated as sort of binary story by market that we get the tariff. So we don't get the tires, or is it going to be more complicated than that. Obviously, it'll be more complicated, depending what happens over the next twenty four to thirty six hours. But the clear takeaway is that markets are pricing. More risk. Chinese stocks have been declining European stocks declining futures declining the big story for equities this year, especially in the US and Europe has been this continuous rally amid low volatility and a lot of that was trade driven that there were was to be a deal and with volatility ratcheting up Goldman saying, listen, I probably terrorist. We'll come in the markets are increasingly pricing that there will be negative trait. Headlines that are pricing in and our position cells accordingly. It's interesting because Jamie, Dimon says eighty percent chance that a trade deal gets done. Goldman Sachs says don't count on it Marcus is this because I mean, Jamie diamond was yesterday. Goldman Sachs today. Relearning more that points towards the disintegration of trade deal. I'm not sure we can ready determine all the way. I it's literally up in the air. And I think that clearly the tactics the Chinese use have been seen before I think it shocked the Trump administration Hoover act. It's actually not immediately. They took a little while to react quite aggressively as playbook and the Chinese are still coming which is the good news. The question is what they come bearing gifts and go back by ski to the original text, which the Americans thought that that go pretty much squared away. And whether or not they can actually in the next two days coupled together something which is gonna make this deal. Fi. Obviously the whole rest of the world is on and really you. Look oil currencies and everything is is dependent on this. Even the US treasury option, which went badly was pats. Because perception that China hadn't turned up for it all these things the whole world is is interesting is because it does it is. It's a story. Well, obviously, it'll be a big story of China really didn't turn up to the to the ten year ocean. But it seems that he even the expectation that maybe they don't show is easy enough to put off his off is how this a look at the average the was pretty much a foreign buying which is putting looking at the right bias increase in the last few years you've seen a motoric buying options rather than. Straight through the data's additionally China leads that so all right buys. It was pretty much on average. But I just think it made people realize that this is any way that China compacts can fight back east by buying treasury bonds, even that self home because of the much them nonetheless. There is always that fear that the the foreign ownership. Treasuries has been steadily fooling it'd be much more reliant on domestic buying but yields have dropped significantly. They were you know, year ago or so in the sort of three hundred seven we'll hit comes through a half a now with that load two and a half percent ten year. There isn't this isn't a bog down here that full ever going to get a bit of a boss right now the cover was over two times. Let's not get too excited about it. But it was the worst metrics for ten years the ten year old AMI the today. So it's just a

United States China Goldman Sachs ASI Marcus President Trump Venezuela Jamie Diamond Heather Burke Treasuries Yonhap Europe Goldman Iran Bloomberg Lukic Edinburgh Editor
Chris Bond, Austrailia And Congress discussed on Smart Investing with Brent Wilsey

Smart Investing with Brent Wilsey

04:09 min | 1 year ago

Chris Bond, Austrailia And Congress discussed on Smart Investing with Brent Wilsey

"Post was while while while the jobs report. Yeah, I mean, it was just phenomenal. When you look at the numbers there. And you know, I said yesterday just seems like. You know, everything that we were worried about the beginning of the year. It's like gosh. And we said it I mean, not that we have a crystal ball. But actually do Chris bond. The office doesn't really work all the time. A picture that. But you know, you're saying gosh, everything that was going on December January just seemed like so over done it. Absolutely, no sense. And then we get a strong GDP report. We still see consumer confidence comeback. We see people buying houses. Again. I mean, everything seems to be going. Well, and now we got this. Great jobs report that came out yesterday. Yep. And let's talk about that. Again, we had average monthly gains two hundred five thousand a professional business services. Gosh increased by seventy six thousand instruction up thirty three thousand let's find some badness report. Okay. Bad thing import a year over year earnings up three point two percent. Miss at estimate three point three. You know? So that's the only negative. I could find in. That report didn't give the headline number yet. Which was you know, the economy added two hundred sixty three thousand jobs in April, which was well, the estimate of one hundred ninety thousand and also the prior two months, they were revised up by net gain about sixteen thousand lots of positive here that keep saying wage inflation. I think is not going to really increase point two percent is still very good. I mean, still above the target inflation level, it doesn't necessarily translate directly to inflation. But e wage inflation typically, that's going to trickle down to typical place because people are making more money. So then cost good services. You can increase that. But the thing is with the jobs continue to increase at the rate that they are. Well, I keep saying somebody is willing to work for eleven fifty versus twelve dollars. Yeah. You're not gonna have runaway wage inflation until that labor market really fully contract at know. How? Continues to grow like this. It's phenomenal. And you bring up the growth on point out four or five years ago to have this growth was I don't say it was easy. But it's okay. We get it. Because back in two thousand fifteen point was five point seven two thousand fourteen six point six to add this type and bring unemployment down as little bit easier. This is just phenomenal. How this is being done. Because again have three point six percent unemployment rate, which is what it is now and to add as prior to that two hundred sixty three thousand jobs that just shows how strong economy isn't how strong jobs aren't again, we pointed out back in two thousand fifteen two thousand fourteen there are a lot of temporary jobs jobs. These are good jobs like in construction high paying jobs professional business services. I mean, these are good jobs paying jobs at a primer jobs, not temporary gone next week. And you'd have on flation inflation is low around two percent. So it's not bad in your your wages grow. A real return of one point two. Percent. Yeah. And it's really good for the commun-. You know, I I don't see anything that can really take this down. And Jamie diamond said that really there's nothing that can there's no end in sight, really four recession right or for this economic expansion. And I mean, yeah thing that's going to bring it down is going to be some unknown factor that nobody can really see. And I think it'd be like a major war career goes off grazing. Something happens, actually, stop it. But just no circumstances. We should do fine going forward. And I mean, you look Austrailia they've had an economic expansion for almost thirty years. So it is possible to really continue to expand. You don't have to have a recession. Sorry. It's been ten years. You gotta stop. You're not. No, it depends on what's going on. And I think what's happening is everyone's working hard. Well, sesame those in congress, you know. But they're happy. They're buying and a good strong, Connie people feel most people feel

Chris Bond Austrailia Congress Jamie Diamond Two Percent Twelve Dollars Thirty Years Six Percent Five Years Two Months Ten Years
Are we talking about GE or GM?

MarketFoolery

13:48 min | 1 year ago

Are we talking about GE or GM?

"That Tuesday, April nights. Welcome to Mark Tillery. I'm Chris joining me in studio today from fam- fund, a proud graduate of the university of Virginia law school Bill Barker. Congratulations to your Cavaliers. Thank you. Thank you very much. It was good run heck of a run and we've got condolences to our colleague, Mike Robinson whose Texas Tech grad who's at the basketball game last night. But congrats to. Metropolitan our colleague, and the many UVA graduates who worked here at headquarters. Lot of lot of orange and blue around the office today a lot of people fly in the colors. Why not they should? Yeah. Yeah. I mean, we're is a Virginia company. That's true. That's true. People don't know that. And let's face it. When it comes to major college sports, you're probably going to have a better shot at winning national title with your law school than your undergraduate alma mater, time will tell I guess, I guess we'll say we're going to dip into the full mailbag. We've got news from the healthcare industry the packaged foods industry. Let's start with this get the popcorn ready because on Wednesday. The CEO of the biggest banks in America are heading to Capitol Hill to testify before the House Financial Services committee. The rundown is Jamie diamond from J P Morgan Michael bat from city, David Solomon from Goldman Sachs, Jim Gorman from Morgan Stanley, Brian moynahan from Bank of America will get to Wells Fargo in a second coincidentally or maybe not coincidentally Bank of America announcing today that the company is raising the minimum wage at its company to twenty dollars an hour. And if nothing else the timing of that announcement makes Wednesday probably a little less painful for Brian moynahan hand testifying on Capitol Hill. Yeah, I think so I don't think there's much coincidence about it. I think it's. We'll see it seems like a smart political play at the moment getting the headlines that that they want and positioning, and they'll know expound on that a bit in front of the cameras. So I think that it takes some of the wind out of the sales of of those that are going to attack at least Bank of American. I, you know, I think every everybody is going to be under pressure to to respond. So in terms of Wells Fargo. At the moment. If someone from Wells Fargo is on the list to testify I haven't seen it yet. Doesn't mean. It's not going to happen. We've still got time before the hearing. But I'm reminded of a conversation. I had couple years back with Paul liner. Who's covered the automotive industry for thirty plus years, and we have him on motley. Fool money pretty much every year around the North American International auto show in January and talking to Paul about how. About the ripple effect of. Automaker X having some sort of large failure. And failure to disclose. The failure of whatever the technology is whether you know, it's Volkswagen in the emission standard and just sort of the ripple effect. Like, if you're if you're any of the other automakers you like 'cause they they all pay for it in some small way. And by the same token Wells Fargo just continuing to screw up in terms of their own culture the fake account scandal. Tim Sloan who was there when the scandal? Happing happened not being the right person to try and clean up the mess. And then you know, he is shown the door. If you're any of these other CEO's, I have to believe in the back of their mind at some point tomorrow. They want to say, hey, at least, we're not Wells Fargo. I mean, it just it. It's one of those things where yes, it's a Wells Fargo problem. But it really does spread to the other. Banks. Yeah. I I think that they'll probably to the extent they can sort of redirect the questioning toward. Oh, well, Wells Fargo. You probably would've enjoyed having them here to kick around. And I was I was looking up some of the data on what's been paid. So far post. Oh, eight oh nine and there have been about a about a quarter of a trillion dollars in fines against the banks and not all that cash. Some of that is as been settled in by loan forgiveness, and and some other credits, but it's a, you know, in terms of there was a bail out of the banks true enough, and they paid back the money that they were in some cases forced to borrow from from the federal government. But but that was paid back and they have paid fines. And I don't know that that it is a strong thing to say, hey, look, we've already paid a quarter of a trillion, you know, combined in fine. So don't act like we. Haven't you know, already been punished? That's that's not going to get them anywhere. But you know, they can talk bleakly I guess about having made amends at times, well and one difference between now and five years ago eight years ago that sort of thing is you can make a pretty strong case that big banks are no longer number one on capitol Hill's enemy list in terms of the business world. I think the big tech has probably supplanted them. So for any CEO who wants to try out there? Well, hey, at least we're not Wells Fargo. They could just as easily and by the way, we're also not Facebook. Yeah. Well, and I don't know if that's going to go anywhere either. As I so they've got to create the accentuate the positive part of the story in this twenty dollar minimum pay which Monahan is said, look anybody who works here is going to be making at least forty one thousand dollars. A year. That sounds pretty good as if you're thinking in terms of a minimum wage job of which there are essentially none INA back, right? You've got Bank tellers to the degree that that's a major part of the employment. Banks. I don't know how much that's the case. But you don't have a lot of employees who are probably, you know, competing with at any of these banks who are thinking, what are the other minimum wage jobs that I would be comparing this against, but I think it is a positive, and they're pointing to it in part as something that they are doing their they're connecting the dots between the tax cut and making this sort of passing on some of the profits that they have they're sitting on from from the massive tax cut. So you know, that will get them some of the way with maybe about. You know, one half of the aisle one side of the aisle will will allow them to talk about that and the other half, probably less. So. Like, I said get the popcorn ready. Let's move onto Cerna Corp, which is healthcare. Technology firm, sir has reached an agreement with starboard value. Well, known activist investors to add four members to the board of directors Cerna is also buying back. One point two billion dollars worth of stock. Which of these two things is pushing shares of sir up ten percent today. Because my assumption is just based on the fact that shares of Sern are have sort of treaded water over the last five years or so I'm assuming it's the board seats, I think, yes. Wing along in the the line that starboard is is recommending it's remarkable starved really doesn't have that much of Cerna. I think a red by one percent of Cerna stock, but there's whole laundry list of changes that are going to be made including the strategic business unit being eliminated. I think that. Dividend was just recently, the started by sir. And it looks like they are going to be forced to change some of their capital allocation, including at least authorization to buy back up to one point two billion whether that gets follow through or not we'll see. But I think the board search is, you know, that's that's all part of the equation. I don't know how you can separate a twelve percent move when it opened now it's maybe eight or nine percent. And you know, what part of that is scribe to what part of this whole package. I'm not looking knock starboard value. But I am curious about something that you just said, which is that start value only has a one percent of Cerna Stott. How are they getting four seats on the board? If they only have one percent of the stock. The seems like something you get when you have at least five percent of the stock and really closer. To ten percent of the stock. I agree. I was surprised when when I read that. And so I want to admit that I need to make sure that that's the case before going too far. But if it is the case, you can you can guess that they have some other shares that they are in communication with that are on their side because. Yeah, one percent is one percent. If that's all that. It means is hey, sell your one percent if you know that unhappy. I mean, we we don't you don't have as much power as you think. But if they have plenty of people on their Rolodex, and you know, nowhere to push the buttons and organize the the votes that proxy time than that. That's a different story. Yeah. I was gonna say if in fact, it's only one percent then that opens up a whole world of opportunity for activist investors, potentially. Our Email address is market fully at full dot com. Questioned from dang who's writing from China, dang rights. I've been listening to market fuller since I started investing in stocks and twenty fourteen lately, I've been looking at some large cap stocks, which may not grow that fast and cites as examples Kroger General Motors and some airlines docks. Goes on to I'm considering their p values which are below ten making them cheaper than the market average. Are they bargain or are they potential traps? The age old question dang value play or value trap. Because that is always the thing that sucks in. I was gonna say value investors. But really a lot of investors just, you know, their growth investors who just see a stock. Get knocked down twenty percent in one day and immediately start thinking. Well, look, it's it's on sale twenty percent. So you know, maybe I should be jumping in here. How do you help people think about solving this question because we're talking about more than one stock here, and we're not gonna go through like Kroger. General, you know, we're not gonna go through all of them. But what do you sort of look for once once you've made that initial calculation of? Okay. Here's a large cap, it's not going away. And sometimes we're looking at large companies that are paying dividend. So there's some reason to buy them, maybe the businesses and setting the world on fire, but you've done the math. And you say we'll look from peace stamp this significantly cheaper than the overall market. Why should I buy a few shares? Yeah. Is a good question. And to take the p so it's I'm looking at data that right now in comparison to its forward earnings GE for instances at five point eight times forward earnings. And boy that sounds street at is cheap over the last five years. The average is six point two. So usually for the market for the last five years for GE over g so g is not it's maybe, you know, five percent cheaper than its five-year average in comparison to the forward earnings expectations. And why is it so cheap one the Ford earnings tend to be overly optimistic not only for GE, but for everybody at this time of the year, you're still going out one quarter ninth and yet reported, and so there is the typical enthusiasm about the year ahead, and as the year goes down and companies report, and they say, you know, we're gonna we're not gonna Aaron quite as much as we may be thought we did. Or as you thought we did. Additionally, just it's a highly cyclical industry autos and auto sales of begun to level in decline, and

Wells Fargo Bank CEO Virginia UVA Cavaliers Mike Robinson Brian Moynahan Basketball Bank Of America Mark Tillery Bill Barker Paul Liner GE Chris Volkswagen
Aramco gets whopping $100 billion demand for landmark bond

Bloomberg Daybreak

02:15 min | 1 year ago

Aramco gets whopping $100 billion demand for landmark bond

"Bureau. Starting this morning with Brian is look at Saudi Aramco's mega debt deal. Eighty five billion dollars of orders for its debut bond issue Chapada says that some unsurprising how much interest this is getting. Yeah. His point is that this deal ticks just about every box at there could be for a bond investor. It's the world's largest oil company also more noting generated the most profit of any corporation on the planet in two thousand eighteen it is never issued dollar debt before that a big perk. If your money manager who wants endeavors vacation, and you've got J P, Morgan chases, Jamie diamond behind it. So put it all together and low you've got eighty five billion waters in counting. So those are the big. Pros. And of course, there are const here. I would guess the biggest one being Saudi Aramco's ties to the Saudi government that is part of one of the big winners from the cell. Probably isn't Aramco's so much the sovereign wealth fund Japan also makes another a couple of other interesting points. It's worth us all wondering what the energy sector, and they're for the financial situation of Saudi Arabia itself is going to look like in twenty to thirty years time. And that's when some of the portions of the sponsor going to mature, it's also worth remembering that the entire point of the exercises for Aramco to buy a majority stake in fabric, the country's largest listed company. And so there's a way in which you can just look at this is suffering state assets from one pocket to another. Of course, the big bottom line for any bond issue is is the price. Right. What's think? Well, this is a six part south. So let's look at one of it. This is the ten year portion, and it looks like that's going to offer an extra yield of one hundred twenty five basis points over treasuries. So there's no real perfect comparisons. Here. I mean, indeed part of the issue here is. Debut bond sale. But if you look at the Bloomberg Barclays index of US corporate debt that has an average maturity of eleven years and a spread of one hundred sixteen basis points over treasuries. So there is certainly a little bit of a pickup. But it's not tons. Then another way of looking at it is the idea that you know, there is so much demand. What is Saudi going to do with it? So it can either boost the size of the deal or it could even offer lower yields. If that happens, there's a potential risk here that yields could actually wind up being lower than what you can get off the sovereign versus treasuries, and for some investors that's gonna be a line that they're not going to be willing to

Saudi Aramco Saudi Arabia Saudi Government Chapada Brian Japan Morgan Jamie Diamond United States Eighty Five Billion Dollars Eleven Years Thirty Years Ten Year
Kinder Morgan Co-Founder Richard Kinder Keeps Buying Stock

CNBC's Fast Money

02:18 min | 1 year ago

Kinder Morgan Co-Founder Richard Kinder Keeps Buying Stock

"This is this is going to be a lot of fun because this is the name by like a lot. I've owned it since February of last year, and it's kinder- Morgan. Here's some of the interesting parts about this Richard kinder-. He's the founder, obviously. And he's still the chairman, but he's got a CEO and places doing an unbelievable job. But Richard kinder-. How about the commitment he has to his own company? He not only already owned incredible size in terms of how much shares the own. But in the last since November September rather he's bought another four billion shares into this four million shares on the stock so very aggressively positioning himself, you gotta like the fact that he's willing to put his money there between seventeen and a half at about eighteen and a half is where he bought the majority of that. And that's all him. He's committed very. Much like, Jamie diamond very much like Steve Wynn was back to their stocks. It's just amazing. And I love seeing something like that. I think this the fact that they are the largest oil and gas pipelines. That's amazing and what the all the other areas that they've got they got the terminals down south. They've got all the different positions along the way as well. As Ellen g there's a lot of things going on in the right way that I think positions them going forward not just up to now but going forward because the stock hit a fifty two week high today, the interesting thing is this dividend. Now, if you go back, let me just show you the chart if you go back to two thousand fifteen this is a company that because they had to make sure that they had everything in place. They actually cut the dividend. They were very uncomfortable. We all know why we saw gas prices and where they were but they cut the dividend. This stock dropped dramatically here. And then over the last couple of years after that cut now that's actually doubled. So it went from fifty cents. Now, it's gone to a dollar. It's almost recovering back to where they were and where they were paying the dividend before I think, this is a very creative company, and I think. Richard kinder- is the reason why probably the biggest reason why I own this dock, and I will continue to own this stock patriots just to play devil's advocate because that's what we do on this show fast. You, you know, as well as anyone the socks from basically fifteen to twenty and change the course of a month and a half, two months. Does that concern you at all it doesn't concern me? Because if you go back, and you looked at that chart. This was a stock that was trading in the forties guy. I think this stock has potential not maybe get back to those levels unless we see the rest of the environment change. But I certainly think that we could see it back towards the thirty. So it has made a move in the last year. But I think that move actually can extend a lot higher than it is right now

Richard Kinder Kinder- Morgan Steve Wynn Jamie Diamond Ellen G CEO Fifty Two Week Two Months
The dangerous consequences of Trump's shutdown

Thom Hartmann

05:10 min | 2 years ago

The dangerous consequences of Trump's shutdown

"They're doing it EPA to what they're doing. And all these basic, you know, these federal departments that are slicing and dicing America selling it off and giving it away to the billionaire class to the damage that he's doing to social security by defunding social security, people who answered the phone when you call in. So now, you've got to wait longer and longer and longer to enroll in Medicare or social security Medicare gets more and more confusing. It's harder to navigate. Oh. Yeah. We'll just talk to AARP and United Healthcare. Right. Privatize it next up social security. We want to privatize that Jamie diamond on Wall Street's got a great idea for you. It. Sure looks to me like what's going on. Right now is a a well thought out plan to devastate Trump's opponents in the federal government, the FBI in particular, but all the people that work at the the people that work at the FDA, the people that work at USDA, the agencies that protect us what what oligarchy and billionaires call regulations you and I call protections protections against our against being poisoned by e coli protections against being ripped off by drug companies protections against the the oil refinery down the down, the, you know, the next town over cranking up the amount of pollution that they're pumping into the air that our kids are breathing. They call that regulation, and they say regulations a terrible thing, we call those

Medicare Jamie Diamond Aarp EPA United Healthcare America Donald Trump FBI Usda FDA
World Economic Forum 2019: Stage set for another powwow in Davos

Bloomberg Daybreak

04:24 min | 2 years ago

World Economic Forum 2019: Stage set for another powwow in Davos

"Big thing this year. Now about theme is how is this a trend? Does this continue and a message from the central Bank? He'll be president's weak is being a bit more patient. They might be a bit more cautious about what they're gonna do with monetary policy, an incoming wait. Publications stations by the fact that the market economy showed some slowing at the end of last year. So how could we see that theme of caution play out as we head into the World Economic Forum? Backdrop got. Government shutdown. I got Brexit all into the system. And I think when you put that all together, you're gonna find the CEO's, President Trump's beer nervous. Bit more uncertain about the outlook reflected in hiring and investment plan. So that'll be a real interesting point to focus on his just how bullish are the company, but generally about that economic outlook. Yeah. So which CEO's do you think are going to be most notable to look at the big banks years? We'll be that Jamie diamond from J P Morgan David Solomona we making his debut as the CEO of copen sacks. Good from the corporate world. Some level of expertise or some insight into what's going on in the economy, and that's one of the benefits of it. The what economic forums that meeting? People like a thousand from fester general, everyone kind of comes out of that silo. And and brings a perspective to that debate will be fascinating to watch given that heading into the forum, Jamie diamond in particular was talking about if the government shutdown continues if some of this uncertainty continues in the weeks and months ahead. We could be headed toward zero growth. I mean, I wonder if they're going to be any CEOs coming to this forum that might show some glimmers of optimism in this time of uncertainty often a bullish cruelty. Those who make it about their own companies sense. I think we're entering area weather is not gonna grow as strongly as a one. At the same point. When you look at labor market being tight, you think actually does translated. So maybe it's it's in better shape than we went into reading some of the coverage leading up to the forum this week Simon. I see the theme is globalism four point. Oh is going to be an overarching theme that we see at the WEF what is globalism four point -o concept. The idea that we've been through the industrial revolution. And we've into the tech revolution. And this is the next wave and coming out to this crisis period. Increased technology different requirements. Different amounts to take climate change into account. So it's time if you. What confrontation have been cold? Baffling, but there is at some behind this one. This is a good time to be discussing globalization at timely about trade wars, you got increasingly nationalistic agendas, and so I think that this is probably a good time to be discussing liberalization, of course, among those with a nationalist, perhaps anti-globalists agenda is the US administration led by President Donald Trump. Now, the partial government shutdown is keeping the US president from attending Davos, and now he's canceled the US delegation's trip. So Treasury Secretary Steven Mnuchin and company or staying in the states, how will the absence of the USB felt in Davos will the president's policies still loom large at the event, you think actually

President Trump Donald Trump CEO United States Jamie Diamond Davos WEF Morgan David Solomona Simon Steven Mnuchin
"jamie diamond" Discussed on Progressive Talk 1350 AM

Progressive Talk 1350 AM

09:04 min | 2 years ago

"jamie diamond" Discussed on Progressive Talk 1350 AM

"Free. That's eight five five four five zero three seven three three got the discord on air, Colin line rooms, Johnson's laptop is way too big for his position in the room. Right now. What is that bees? The seventeen inch laptop. That's all I don't know if you can just seventeen inch laptop in it. No, that's not seven. Wow. Well, yes, it some something is really nice guessing yours doesn't have an Invidia graphics card. Does have an engineer graphics card in it. Well, all right. You guys can fight it. Several years newer than to nine fifty m it's Ian, Michael Johnson here in the studio tonight. And you as always can take control of the airwaves, you can bring up anything that you want. Coming up is a crackdown on porn coming from the Trump administration. Johnson has that story. Maybe maybe we'll talk about it. And then also let's see here. Jamie diamond is back in the headlines now Johnson looking oh, he's the the the guy who thinks bitcoins. You know, he was the one who he called the crash. He was right, right? Well, I mean. He hates bitcoin. And he's the CEO BP Morgan Chase one of the largest banks in the United States in the world chases, a huge Bank. But this guy and his economic opinions are pretty ridiculous. In fact, here's the story from CNBC, Jamie diamond, the J P Morgan Chase CEO who's been bullish on the US economy said the partial government shutdown could wipe out growth from the world's biggest economy. He says, quote, someone estimated that if it goes on for the whole quarter it can reduce growth two zero. We just have to deal with that. It's more of a political issue than anything else. He told reporters on a media call to discuss fourth quarter results. So basically this guy believes that without the US government around. Now. Of course, we know it isn't entirely shutdown partial shutdown a poor portion of the government has been. And even in that case, they're still demanding that a four hundred thousand of their bureaucrats come to work and not get paid which is a whole other issue, and we can talk about the TSA and all that here in a little bit. But to suggest that you need the government around to have economic growth is one of the most bewildering comments that I think I've heard in recent times, he's also the chairman of the Washington DC based business roundtable and said that quote, while the underlying statistics for the economic globe, the economy globally are not bad. The Bank will be prepared for an eventual downturn. I was actually thinking, you know, this this shutdown could this have lasting huge positive impacts on the economy, if the shutdown lasts long enough for these people to start quitting their jobs. What happens to these people who are owed back paychecks in these pensions and all this stuff if they quit their jobs before you know, because they? Can't literally cannot handle not being able to get paid. You know? I'm sure there are going to be some people are going to try and take out loans to weather this shutdown. So that they can have paid and then collect their back money. And then payback alone wants to get a paycheck again. What's government resumes operation, but what if government stays shut down long enough for some of these people to start quitting, right? And then they lose pensions. They they'll never going to collect a pension because they haven't they didn't stay. And also are there any rules in place that if they quit their jobs? They don't get the back paycheck's, even if they made sure they'll get the back pay whether they quit or not whole, you know. They would think that people would get paid for the work that they've done if you can call that work. But you know, you're asking the question that I've asked now a number of times. And in the way, I would ask the audience is how long would you work for no pay? Right. Even if you love your job, you love your boss in many loves frisking, people groping a great job referring to the TSA, which was just one of the government bureaucracies been whining loudly about this shutdown. Sure, they're calling out right? They're calling out sick. In fact, I've got an update on the TSA tonight that the number as you might expect of no show security screeners is soaring during the shutdown. So it started a over a week ago with them calling out then last week is the week on Friday that they didn't get paid for the first time. So now, many of them are expecting. They're not going to get paid probably a second time in their how many paychecks are you willing to miss before you start doing what Johnson saying here and looking. For and actually accepting another job. What does that do to the? What is the the news that government workers could just all of a sudden not get paid? What does that do to the prospects of somebody who was looking for a job how many people want to go? And if these people quit they're going to be hiring. But how many people are going to be banging down the door to take a job that they're not going to get their first paycheck from which is why I love what Trump's doing here. Yeah. I mean, if this is his intention intention. You don't think so you're buying into this? I think he, you know. Perhaps the intention is the wall, which not such a noble intention. No. Accidental. But if it's intentional. I mean, it's not an accident at this point though. Right. Like, it might have been going into this. Maybe Trump didn't realize what the what the effects would be. But could he not know by now that the prison guards aren't getting paid? I mean, he could no and not care his intention could still absolutely be. I'm gonna get this. Well, I'm not going to back down. I'm not a lose lose. I'm gonna win. It's going to be the greatest world. But that's what I like about about him in this instance. Right. I don't like Trump, generally, unlike any president. But in this instance, if he's willing to play political football with people's jobs. Yeah. It's one thing normally when politicians especially considering what government workers now like the majority of federal government. No federal government workers are like aren't there like more people? Are it wasn't there a line that we cross some time ago where government workers I mean, it's not federal government workers? Government workers in general who are more likely to probably have a kinship or feel Ken with their federal counterparts. But that we have more government workers than we have private workers in this country, including contractors Inc. It included contractors, including contractors that number isn't necessarily where I'm just like people who I think it was like households that have at least one government. It seems to me enough people who are living off the government dole where this could affect him in the next election. Oh, I thought I totally agree. I mean, he's definitely whereas maybe during the two thousand sixteen election, he might have gotten an endorsement from the police. Razer whatever if the cops aren't getting paid, they're not at least the federal ones FBI, the whole department of Justice is not getting paid. But Michael you had a story. I don't know if it was in your show prep. But you mentioned it to me before the show that apparently the White House staff is also not getting paid. No, they're not getting paid. Did you hear about the fast food dinner? I have that up for tonight. That's awesome. Yeah. So apparently he bought a bunch of football players. Mcdonald's. The pictures from this are fantastic. I wish I could show. You the pictures over the radio because they speak volumes. You'll have to tell me about that didn't even bother to take the sauces out of the packets. You would think that they would like maybe like take the sauces, and they have they heavily silver serving bowls. But instead of having the sauces in them, they have the McDonald's sauce packets. Oh, wow. Serving trays are stacked high with with McDonald's. Big mac. Take him out with a spoon or something. You know, like at least, you know, have some kind of class to it. But now, they're just straight up. It's awesome. Everything's in its paper containers. So the federal government judges are not going to help out these government bureaucrats story from the Daily Mail in the UK says federal judge has refused to make Trump pay federal employees, some of whom are claiming their slaves during the the so-called shutdown federal judge decided tonight claim that about every time I have to file taxes, and they don't want it for me. You are a slave in that case being compensated for it doesn't work for me either. Let's continue here. We got story is that the judge refused to force the Trump administration to release.

Michael Johnson Trump federal government Trump administration TSA United States Mcdonald Jamie diamond CEO football Invidia engineer Colin Ian BP Morgan Chase Washington DC CNBC
Jamie Diamond, CEO And J P Morgan discussed on The KFBK Morning News

The KFBK Morning News

00:19 sec | 2 years ago

Jamie Diamond, CEO And J P Morgan discussed on The KFBK Morning News

"Years and returned to hear more and more about effects financial effects of the shutdown. On the government shutdown the federal government shutdown as we have the delta CEO saying it's gonna cost them about twenty five million dollars a month. And Jamie diamond of J P Morgan saying that this could reduce economic growth to zero this quarter. If the

Jamie Diamond CEO J P Morgan Twenty Five Million Dollars
You can now buy Elon Musk’s ‘Not A Flamethrower’ with Bitcoin

CNBC's Fast Money

03:33 min | 2 years ago

You can now buy Elon Musk’s ‘Not A Flamethrower’ with Bitcoin

"Tesla's CEO Elon Musk saying he is going to buy twenty million dollars worth of Tesla's stock, but even with eons, vote of confidence in the electric vehicle company that stocks traded down about two percent today or Filipo joins us. Now with all the details, Phil. Melissa, this announcement of Elon Musk, buying twenty million dollars worth of newly issued. Tesla's stock came out in an SEC filing this morning. That filing was all about the finalisation of the settlement between the SEC and tesla over the investigation into the go private tweet. This is the latest purchase of Tesla's shares by Elon Musk. In this case, these are going to be newly issued shares. The next time there is an open period for purchasing stock. That's when the purchase will take place that comes just a few months after Elon Musk said that he would be buying twenty four million dollars in stock that was in June in March. He committed to buying almost ten million dollars worth of tesla shares on the open market. And then in March of last year, he said that he would buy twenty five million dollars worth of tesla shares. Elon Musk has been a regular purchaser of Tesla's stock on the open market separate from when he's been awarded, stock options, anger and one of the complaints. From those who have shorted. The stock is that Elon Musk has borrowed against his holdings when he has been recommitting to the company and purchasing more stock unclear where this money is coming from in this case with the twenty million dollars. But if you take a look at shares of tesla, we should note out that we went and looked at periods where Elon Musk has said, I will be buying x. amount of shares. And there have been some moments where the stock is popped and moved a little bit higher that day and then settled down and other times when there's been no reaction. So it's hard to know whether or not people can look at this and say, this will be a trigger for people to say, we'll buy more shares of tesla, Melissa back to you. All right, Bill. Thanks Phil in Chicago. So what could this mean for Tesla's stock? Now, let's recall when some other CEOs bought stock. Remember when Jamie diamond bought five hundred thousand shares of Johnson, and we're on shares February twentieth sixteen that stock rally more than ninety five percents since family known as timid, mention the diamond bottom and don't forget about Wednesday, win that big on his casino stock in December. Two thousand fifteen. This is something that Pete likes referred to a lot then rallying more than fifty four percent six months later. So there'd be upside for tesla here does a signal anything? Are we reading into this this? I mean, I think the main point is that yes, he is bought on almost every equity offerings, even I think when they've done convert offerings, but think about it when the companies issuing new shares dilutive. So he's buying it. He just kind of trying to manage some of his dilution. But ultimately, I think the most important story that we keep hearing rumors about is that this company is going to need to raise capital soon, and that's really the issue how they do it in a what term. So to me, he can buy whatever he wants the stock's not going up until we have, you know, a fixed to two billion dollar capital whole well, they built a, they bought a plot of land and Shanghai to build a new factory there. They will have to raise money probably on Asian markets right for about probably a two billion dollar facility. They're right there only in Asia, not even thinking about the cash needs here in the United States. You can ask a question. What gives a muskrat as must be current courage, courage, and that's in my opinion what you need at this point to get long this. Why do anything head of burnings which is going to be in about a week and a half two weeks from now. I think it's got to recapture the two eighty level which it hasn't done. It didn't gave it right back. So I think you're playing stock market here. Pete, we'll tell you correctly. If you wanna

Ceo Elon Musk Tesla Pete SEC Phil Melissa Filipo Johnson Jamie Diamond Bill United States Asia Shanghai Chicago Twenty Million Dollars Two Billion Dollar Twenty Five Million Dollars Twenty Four Million Dollars Ten Million Dollars
Amazon aims to crack down on employees who sell confidential info to merchants

CBS Sports Radio (Web Stream Only)

00:22 sec | 2 years ago

Amazon aims to crack down on employees who sell confidential info to merchants

"The Wall Street Journal reports Amazon dot com is conducting an investigation into implies that are said to be giving sellers on its e commerce program. Confidential. Data for a fee employees are allegedly selling information on sales and searches to the independent merchants that operate on the site and providing away to delete negative reviews that may help sellers products appear higher in search

President Donald Trump Florence Typhoon Senator Thom Tillis United States Susanna Palmer The Wall Street Journal Bloomberg World BO George Stephanopoulos Jamie Diamond J P Morgan North Carolina FOX Morgan Chase Chief Executive Officer Fema Hong Kong ABC Brock
Jamie Dimon says Trump should take some credit for the strong economy

This Week with George Stephanopoulos

00:41 sec | 2 years ago

Jamie Dimon says Trump should take some credit for the strong economy

"Which began with the collapse of Leman brothers, ten years ago this weekend. Now a decade later could a Wall Street executive diamond be the next businessman to make a run for the White House. Are Rebecca Jarvis caught up with him this week in New York. Why not throw your hat in the ring, Jamie. I said as before Trump was elected now you're not gonna get a wealth and yorker elected president. Boy, he's dead well. By the way this well, wealthy New Yorker actually earned his money. Wasn't a. It wasn't a gift from daddy p. Morgan CEO, Jamie diamond taking aim at the president saying he could beat Donald

Donald Trump President Trump Jamie Diamond White House Morgan CEO Rebecca Jarvis Morgan Chase Executive Banks Lehman Brothers Leman Mckim New York Twitter Merrill Lynch
"jamie diamond" Discussed on WAFS Biz 1190

WAFS Biz 1190

07:16 min | 2 years ago

"jamie diamond" Discussed on WAFS Biz 1190

"Available Tuesday Wednesday Thursday the eleventh twelfth thirteenth of September and of course Wednesday the twelfth Okay And welcome back to the second quarter of the best. Stocks, now, radio we're had a quick little disconnect. There hopefully work connected here once. Again. Okay here's Jamie diamonds warning that he gave over the. Weekend this happened at the Aspen institute's twenty five fifth annual summer celebration gala this. Weekend Here's, what, Jamie diamond had to say about the bond market Jamie diamond, said you better be. Prepared to, deal with rates five percent or higher can you imagine I mean it's at three now just under three. Here, you've, got a guy who has his finger. On the pulse of the economy. Say. Telling folks that you better be prepared to deal with. Rates five percent or higher he says it's. A higher probability than most people think The ten year note. Has a ways to go to reach that level obviously we're. Down at two point nine seven here today last week it, did hit three percent. But diamond is? Warning of, a five percent print on the ten year treasury and like you say is probably more there's higher probability than most people, think, he is still optimistic however on financial the financial markets he, says the current bull. Market can, continue for about two to three more years Because the economy is doing well well I talked to folks every. Single, day that, I think we're, in a bear market now or that there's a bear market looming out there tomorrow Or by Friday or by Thursday or for certain by next Monday I tell them I take it a day at a time I, take a week at a time I had. A bull market signal back in March of two thousand and nine, March twenty seven to be exact I've been. On that bull market signal ever since I always. Keep my eyes in the rear view mirror were. Always watching for things like an inverted yield. Curve we're watching for the initial jobless. Claims to start ticking higher we're looking for interest rates. To start taking higher. We're looking for inflation to. Start ticking higher we're looking for GDP to start contracting we're looking for the unemployment rate to start going up. We're looking for PM I numbers to start dropping Yellow warning signs flashing all over the. Place but right now as I sit here today I can't tell you that I see any signs. Yet I, would, say the biggest one the one. That's the closest but it's still not imminent, would be an inverted yield curve. That is when the two year rate becomes greater than the ten year. Rate when short term rates are higher than long. Term rates you have what we call an inverted yield curve. I have added that indicator to my newsletter so that we. Can monitor that on a weekly basis and I. I I check it every single day but. Right now I think as a Friday. We have thirty two basis points separation between the two. Year treasury and the. Tenure gradually the tenure treasuries That about three and. The two year is it about two point six eight of thirty two basis. Points currently separate them we will keep our eye on, that going forward now I wrote a lot about. Apple over the weekend becoming a trillion dollar company if you didn't read my newsletter I predicted the. Next trillion, dollar, company you can take a look. At that go to my website at Garson, capital dot com I put a. Lot of work into this week's newsletter summing up what, happened last week Making predictions for future weeks making comments on. A lot, of, stocks last week it was a very busy, week of earnings that news are should be very very valuable for you at this current time in the. Market, which, is a very unique time in the Mark it's a unique time to be alive let alone a unique time to be in the market you can go to. My website again at gunnison capital, dot com speaking of apple which became the first. Trillion dollar company I wrote a little tribute just. A short tribute to Steve Jobs I mean look you, look at the guys like. Thomas Edison you know Einstein and, whoever's some of the inventors out there. That have invented great things over the. Years Whitney Whitney all kinds of different inventions doesn't. Steve Jobs in lots of were Orville and Wilbur right. Near the top of that list Mean he changed the music world he changed the the the telephone world he. Changed. The. You know I mean look at how many different things that your iphone can handle all in one little hand held device My hat is, off to Steve Jobs the late Steve Jobs one of the great inventors one of. The biggest world changers of all time, Apple's speaking, of which dropped info wars from their podcast directory all you Alex? Jones fans you can. Write a letter or Email. To what Tim. Cook at apple dot com I guess if. You're, an info war Alex Jones should they be allowed to remove is cast from their podcast list mine is still there, maybe I will be removed, I don't know we'll see Saudis cut trade ties. With Canada oh you think it's just US Saudi Arabia's freezing. All new business and, investment transactions with. Canada after the, government in, Ottawa expressed, concern over recent arrests civil society and women's rights activists in the kingdom it also gave the Canadian Ambassador. Twenty four hours to. Leave the country I think. I'd get out. If I was him I guess the first. Plane, out south west has got to have one that's leaving in the next twenty five minutes they also recalled their own, ambassador to Canada sing it, retained us rights to take further action well that. Guy up in Canada Trudeau He's a little bit out there. Anyways now when we come back I've got some. Individual stocks to talk about I think we're.

Apple Steve Jobs Jamie diamond Alex Jones Canada Aspen institute Whitney Whitney Thomas Edison gunnison capital Saudi Arabia Ottawa Tim Orville Einstein Wilbur five percent
"jamie diamond" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:40 min | 2 years ago

"jamie diamond" Discussed on Bloomberg Radio New York

"Warren buffett the chief executive of berkshire hathaway jamie diamond the chief executive of j p morgan chase are looking for some radical changes to the way public companies disclose financial information they have said that quarterly financial guidance encourages shortterm thinking and that it stifles growth and limits innovation in the economy here to tell us more about this proposed changes andrews stolman securities fraud attorney at stoughton law offices andrew thank you for being with us what's your first reaction to these comments by both the jamie diamond and warren buffett maybe i'm a little biased but to me it kind of sounds like the worst idea since the kardashian credit card i mean it's just a bad idea it's an existential question i mean what information are investors entitled to and under the feds securities laws they are all predicated on full and complete disclosure and if we go from releasing this information four times a year to maybe only two times or even one time a year i just don't see how that's good for investors and especially the retail investors because large investors will still be able to get access to this information but smaller investors won't so i i just think it's a pri a priority issue are we placing corporate interests ahead of the interests of small investors well just to push back a little bit i mean the argument here is that the short termism or the concept that the chief executives of these companies have to play to their most immediate quarter and giving the best guidance possible that they don't take some of the extra money that they have invested back in their business build more plants take more risks i mean not only that but you could argue and this is something else that warren buffett and and diving were arguing which is that this requirement to continually forecast earnings is one reason why many fewer companies that have gone public which also isn't necessarily in the best interest of retail investors how do you respond to those issues to the extent companies have to release this information quarterly but there are plenty of companies out there including warren buffett that basically remind investors don't look at our quarterly information we are on a year to year or five or ten year track and i feel like the.

Warren buffett chief executive jamie diamond attorney securities fraud stoughton law kardashian ten year
"jamie diamond" Discussed on KBNP AM 1410

KBNP AM 1410

01:58 min | 2 years ago

"jamie diamond" Discussed on KBNP AM 1410

"Warren buffett the chief executive of berkshire hathaway jamie diamond the chief executive of j p morgan chase are looking for some radical changes to the way public companies disclose financial information they have said that quarterly financial guidance encourages shortterm thinking and that it stifles growth and limits innovation in the economy here to tell us more about this proposed changes andrew stolen securities fraud attorney at stoughton law officers andrew thank you for being with us what's your first reaction to these comments by both the jamie diamond and warren buffett maybe i'm a little biased but to me it kind of sounds like the worst idea since the card actually in credit card i mean it's just a bad idea it's an exponential question i mean what information are investors entitled to and under the federal securities laws they are all predicated on full and complete disclosure and if we go from releasing this information four times a year to maybe only two times or even one time of year i just don't see how that's good for investors and especially the retail investors because large investors will still be able to get access to this information but smaller investors won't so i i just think it's a priority issue are we placing corporate interests ahead of the interests of small investors into just to push back a little bit i mean the argument here is that the short termism or the concept that the chief executives of these companies have to play to their most immediate quarter and giving the best guidance possible that they don't take some of the extra money that they have invested back in their business build more plants take more risks i mean not only that but you could argue and this is something else that warren buffett and jamie diving were arguing which is that this requirement continually forecast earnings is one reason why there are many fewer companies that have gone public which also isn't necessarily in.

Warren buffett chief executive jamie diamond andrew securities fraud attorney stoughton jamie diving
"jamie diamond" Discussed on KHNR 690AM

KHNR 690AM

03:01 min | 2 years ago

"jamie diamond" Discussed on KHNR 690AM

"You know who else was on that she nbc appearance with him jamie diamond damon has been j p morgan chase chief executive for since two thousand and five you know and he said i don't have the audio but i've got the transcript in front of me he said the way i look at it there's nothing that is a real pothole business sentiment is almost at the highest level it's ever been consumer sentiment is at its highest levels markets are wide open housing's in short supply my guess is mortgage credit will expand a little bit he said if you look at how the table set consumers are in very good shape their balance sheet their incomes wages are going up their debt levels are low all the credit written since the great recession is pristine whether it's mortgage credit other than student lending which is done by the government so he concluded it looks pretty good democrats slogan oh ms thirteen gang members aren't all that bad democrats slogan we use the word when we describe the president's daughter nothing wrong with that we're reclaiming the work democrats slogan we love kathy griffin holding up the severed head of donald trump's she's doubling down and there with her make no mistake don't kid yourself her career she sold out carnegie hall and i mean recently so there is an appetite four that kind of crap but the problem is they're more of us than there are them they're loud they're vocal they're unhinged but if you're up against if you're really arguing about respecting the flag and you got a choice between the political party the wants to respect the anthem stand for the flag and and honor those who serve or you can go with the political party the thinks it's great to disrespect the national anthem and the flag and that is literally what that protest is about no matter how they try to spin it again i like our chances and i want to focus on november i want to focus on well frankly july august i want to focus on next week with this historic summit something that was a pipe dream in the obama administration the idea of north and south korea having piece the idea of an american presidents sitting down with the north korean leader and coming up coming to terms that would denuclearized korean peninsula that's powerful important stuff i don't think hillary's.

chief executive president kathy griffin donald trump carnegie hall south korea jamie diamond damon obama hillary
"jamie diamond" Discussed on KFI AM 640

KFI AM 640

01:32 min | 2 years ago

"jamie diamond" Discussed on KFI AM 640

"But back to financial yeah i think the guidance is more important there because j p morgan ceo jamie diamond very charismatic jamie diamond right out of central casting when it comes to ceo's he's going to open four hundred new branches which i thought was interesting a new headquarters in midtown which was actually started last year and he's going to invest in more crypto technology this will probably give him a little bit of headroom on the bottom line to work on that healthcare initiative with berkshire hathaway an amazon too so i think we'll see a lot of good numbers coming in this afternoon we're gonna see a big number out of city group as well next week we'll see wells fargo and all of financial should be doing fine over in tech because the volatility tech has been like fire ready aim for like a couple of years now and that's starting to cool off a little bit and i think that's probably good but i do think we're gonna see killer quarters across the board a couple of things so to just going to your tech sock thing i absolutely thought of you was talking about this yesterday when i read the headline that tesla was the stock that us investors were betting on the least i mean i remember when you and i first started talking about this years ago tells the was the darling of the tech stocks blur little bit nervous about it well a couple of good really good reasons their their their bonds their their their equity is not very high right now they're having trouble getting that so the only way they can raise money moving forward really is the issue more stock so that's the only way they can raise capital if they get into a corner and that's not a great way to be so that dilutes the stock that's already on the market of course so that that's one reason.

jamie diamond ceo midtown amazon tesla
"jamie diamond" Discussed on WWL

WWL

02:04 min | 3 years ago

"jamie diamond" Discussed on WWL

"And development in his country to benefit everybody else in the world and at some point in time we have to come to grips with that i'm encouraged by the announcement of berkshire hathaway an amazon of jp morgan chase a widow base owes jamie diamond in warren buffett uh i think that is a try factor of uh uged individuals that understand the economics of this business in may make a difference and i don't think that this is a coincidence that their announcement comes right on uh in on the advent of the president's state of the union address in at specifically this is in air um i believe i have nothing to support this is that i believe they been having conversations and figuring out how they're going to go after this and how they're going to change this culture of the problems that we're having with the strong lobby at the press prescription drug industry and whether or not we're going to be able to drive those prices down and and make sure and ensure that the citizens of this country are not burdened uh with these everincreasing costs that are killing our a medical economy uh an and causing our insurance rates uh to go up uh you know so i was very encouraged by that when it came infrastructure out and not so much i thought he had an opportunity to really talk more about that i mean i know that there's been bannered about an in infrastructure bank that was discussed in previous administrations in trying to figure out whether or not that there should be some tax incentives for the repatriation of money uh to encourage private investment in the infrastructure across this country you heard uh mr rashid talk about the private sector funds infrastructure twenty seven times greater than the federal government and the federal government's actually third two states and so the fact of the matter is is.

jamie diamond president insurance rates federal government jp morgan warren buffett mr rashid
"jamie diamond" Discussed on KHVH 830AM

KHVH 830AM

01:56 min | 3 years ago

"jamie diamond" Discussed on KHVH 830AM

"Actually eighteen for jamie diamond ceo jp morgan chase in the past six months jamie diamond has been expressing his total dissatisfaction with trump his concern with trump in a warrant has been out there jamie diamond has been considering running for president because things are so messed up but he's been very cautious in the things that he has said it's it's been difficult to ascertain as he really ripping trump or his he is he ripping other elements it hasn't been that easily determined so most people is assumed because he's a democrat that he's also ripping trump but jp morgan chase and the ceo from quest diagnostics are novel latest to come on board and consider giving bonuses to their employees because of the trump tax cut plan going to see companies doing things in the short run with increasing wages and a bunch of stuff when you got a one time bonuses were we may do something we're announced that some time later but over time that retain capital will be used to grow businesses horan to hire people wages competition and over time you'll be very good for america in ever heard this kind of talk to the last eight years folks you never heard say socket mike this in the last eight years the obama administration of these ceos instead of talking about expanding within the free market and the open aroma competition were trying to fight find ways to get close to obama and and engage in what we call crony capitalism or review want crony socialism but these people figured out uh that obama had an enemies list democrat party has an enemies list is leads it's largely american businesses corporations industries and the way to protect your industry wants to become an obama donor and to get sidebyside and be one of his neighbors and that's how you protecting your business.

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"jamie diamond" Discussed on KARN 102.9

KARN 102.9

02:31 min | 3 years ago

"jamie diamond" Discussed on KARN 102.9

"The problem in the world so these guys to protect our industries had the cycle every at close to him now there's no need to get close to trump there's no he decide what protect your business all you have to do to grow your business is take advantage of the trump agenda that is being implemented and the tax cuts are the first bet here here's jamie diamond again this was on the fox business channel today with maria birth joe ruble and she said trump is the first business president i remember you were asked recently what you fought his tenure would be you said another three and a half years provided the democrats have a real candidate the push forward do you still think he's a one termer the thing about the democrats and it's your day they will not have a chance in my opinion have a strong centrist probusiness pro freeenterprise person you know the american public clamoring for more government being go being the american public is not clamoring for more hollywood the american public's night clamoring for more preaching from the nfl or from hollywood here's jamie diamond the ceo of jp morgan chase the democrats will not have a chance if they don't have a strong centrist pro business pro free enterprise can anybody name that person can you name for me a probusiness pro enterprise prominent democrat mr snerdley in your name one mark cuban mark ended known them in the note i'm talking about official democrat elected difference office holding democrat member of the house member of the senate no not less we think about it jamie diamonds also predicting four percent economic growth my point is if trump continues to succeed the republican stick with a which they will as this russia kalusha thing fades the democrats rather than thinking they want a medically won the house back in two thousand eighteen are going to enter this this this this topi in world of total permanent political irrelevance if they're not careful and i've been telling people this for months everything some nuts but i don't pay attention to the drive by media the drive by media is soap opera each day is not reality to me the reality is that trump is kicking but and everything they have tried to take him out has bombed big time and this latest thing this wolf book is.

jamie diamond joe ruble trump president nfl hollywood ceo mr snerdley senate the house maria jp morgan official russia four percent
"jamie diamond" Discussed on Bitcoin Crypto Mastermind

Bitcoin Crypto Mastermind

01:36 min | 3 years ago

"jamie diamond" Discussed on Bitcoin Crypto Mastermind

"Tom testing the mastermind so i'm just going to let a few of you in at a low price and it's already filling up quickly so if you want to get in a few of you in so go to tie lopez dot com slash bitcoin podcast all one word bilo busy dot com slash bitcoin podcast if the course disclosed when you get to the page put in your name in the waiting list you missed out on the first round uh in if you see it welcome to the group glad you didn't procrastinate okay back to the show what's happening with jamie diamond and the banking system and all this is that its base and predicated around regulated control of money centrally regulated at the federal reserve level right at so it's a handful of people controlling interest rates and you know interbank rates how they loaned money to each other all these conflicts things were they analyze inflation and growth in that okay we're going to change the way money move in trust me better reserve as tremendous power not only just power in the united states book global power because what you do in the united states it's a ripple effect domino effect it affects basically every country in the world so what happens is this new thing cryptocurrency comes out and all of a sudden anybody anybody can create something that's trade so it's not a currency per se but it's traded and it has potential.

Tom jamie diamond banking system interest rates united states ripple effect
"jamie diamond" Discussed on KBNP AM 1410

KBNP AM 1410

01:35 min | 3 years ago

"jamie diamond" Discussed on KBNP AM 1410

"An example of this is jamie diamond who's called it a bubble and a fraud on however jp morgan and that doesn't mean their clients are not asking about it and they have two n d they are one of the people that have been weighing offering the futures contracts to their clients so there's this inherent disconnect between what they have to address to clients and how maybe the banks feel about it there's also no your cost customer an anti money laundering concerns with with these conferences well is it useful to to bring called bitcoin as a commodity order's components that's the big debate ride what what what is it and you know they're they're arguing hence for it to be both i think that generally walking into the futures market people are behaving as if it's a currency i going gonna say one thing that i am struck by is that the actual price that you can get on bitcoin is completely different from coin base two other uh other exchanges you have to wonder what the real value is and our people not going to just simply get scammed right were definitely wondering kind of what the differentiation is among different exchanges and not also not only just bitcoin but now you have a lot of other options to invest in the cryptocurrency space and how those prices are connected to each other one of the biggest mysteries in this world for example as tether we had a fantastic story and if you have and ready yet i really did issued i look at it by by not saying you know what is underpinning the value of tether well we'll go in to score that at another time i wanna thank you very much for being with us just him the goal choose the commodity futures trading commission says that bitcoin is a.

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"jamie diamond" Discussed on KBNP AM 1410

KBNP AM 1410

02:21 min | 3 years ago

"jamie diamond" Discussed on KBNP AM 1410

"I think i'm wearing jamie diamond campan than not um i am a big fan of the blockchain's technology i don't know that the federal reserve is prepared to let go of our currency as we sit here today and i and i believe that's would be coin represents right it represents an alternate currency on we can just imagine what that will mean and how it's going to be used but i don't think that i think the federal reserve is allowing the sandbox to occur for right now but at some point they're going to take control of maintain control of our currency well actually just as sort of update or give a little more nuance to jamie diamond statements jp morgan's marianna lake came out today and said that he can work is quote very openminded to possible uses for cryptocurrencies like bitcoin fa quote are properly controlled and regulated i based on frank what you just said you think that proper control and regulation will ultimately kill these cryptocurrencies i think in the format that we look at them today that would be a true statement excuse me i think that over time though the technologies that that that are behind bitcoin and other types of currencies be things we will see in our own currency system you mean as far as blocked and gus hill but what's the advantage of block chain versus say just an automatic computer system held by jp morgan which is basically just a spreadsheet basically of accountants me why is blocked chain better i i wouldn't sit here and professed to be of an expert in block chain however the technology there is certainly more ubiquitous and it is not controlled by any single source and it can be relied relied upon in ways that current technology can not and i think that's what the attractiveness is there and i think there are many institutions that are looking to utilize block chain in lots of places whether it be in currency as bitcoin but also in the real estate area in title um you know in ownership chains there are just lots of places where that type of technology will replace many archaic systems and again you know again i know we started the conversation there disrupt industries that exists today in a big way if there was one rule that you could change having to.

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"jamie diamond" Discussed on WAAM Talk 1600

WAAM Talk 1600

02:26 min | 3 years ago

"jamie diamond" Discussed on WAAM Talk 1600

"People's republic of ann arbor michigan so after your last interview here on on the show i was an event in our burn somebody comes up to means as i listen to an interview on tape i go oh yeah what do you think while she was scared me now is a very compelling and she was factually based but but this is what i want you to ask mistreatment next time he ever on or really not so much asked retell her if barack obama was aware that jp morgan chase was in bed with made off to this level obama and his administration would have stepped in and done something about jamie diamond and jp morgan chase not at all obama protected all of the wall street criminal uh he getting prosecute anyone and he and eric holder i think it really been in disgrace who the american legal system because he refused to prosecute anyone on wall street and you know the irony of it is if someone commits a violent crime and you punish them there is really any deterrent effect because someone someone's capable of murder he's not going to be it charged by the fact that he could go to jail for it but if someone on wall street commits a financial crime and he knows that he's going to go to prison for it is a huge deterrent effect could putting a prominent wall street figure in jail and when you consider them massive criminal activity which led to the two thousand eight provoke financial collapse and then you consider that obama came in and with eric holder gaetan prosecute a single author of a single financial institution it not yet jamie dining at jp morgan chase it well fargo bank of america it any group it's called in fact nobody with criminally prosecuted and if you put jamie dining in jail or or a partner at goldman sachs india that would clean up wall street immediately because the one thing people on wall street had figured out it had a pay someone else to serve their criminal thin but they know how to pay people in washington to make sure that they're protected while speed now what they do and speaking of that helen headline from this week so those two that.

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"jamie diamond" Discussed on WTMA

WTMA

02:19 min | 3 years ago

"jamie diamond" Discussed on WTMA

"That's interesting asking a question is he afraid is this jamie diamond guide this sea or whatever of chase bank is he actually can he see the potential in bitcoin and is attacking it for that reason or is he just sit and so pretty up on his diamond encrusted thrown up there at chase that he just couldn't possibly believe that this little thing which is only what 50 billion or seventy billion dollars worth somewhere in that range bitcoin i mean that's chump change for somebody like chase bank liar obviously it at a man at his level of of will for him to take the time out of his daily life two two two issue a couple of different statements about bitcoin negative statements about it speaks uh i think it speaks good for bit kuwait was taking time out of his daily life or was he in the middle of an interview what are the you know what's the kind of the circumstance surrounding those quotes i i know we talked about it i don't know a week ago or whenever on free talk live but what was the contacts do you know i really remember what forces they were from me he might have just been sitting in an interview in some result in coin it's not the only time he's talked about bitcoin as i understand it okay so he has enemies he's familiar with this and blocking technology is being adopted by banks around the world at this point the the rock is rolling down the hill and suspect the jamie's diamond can stop at this point we'll pay parents of go ahead please i definitely agree we agree with you mark i definitely think that the for him to take trump even talk about it with his wealthy status wherever he's got to do in his daily life i feel like there might be a little bit of uh like he said he in about the the the dinosaurs of note there has got to be another movement when it comes to these socialization oh yeah i mean centralizing currencies are here to stay whether these old dinosaurs like jamie diamond realized that or not is another question but i just i just happen to pull up because it's going to look up the comments that he made previously and it looked of jamie diamond.

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"jamie diamond" Discussed on KBNP AM 1410

KBNP AM 1410

01:57 min | 3 years ago

"jamie diamond" Discussed on KBNP AM 1410

"Is our business weekday afternoons at two on the money station as you can make a lot of money and it chains it has been slow to change but if you think the the the modern internet air is how many years old ten fifteen and the iphone his ten years old who were early in that so we think those changes will accelerate we think health care is just beginning we think financial technologies have always been a place with the transformation and change in a great place to be in masters and then bitcoin blockchain's you you have a car you have got to follow at because visit jamie diamond who basically sad i was looking for the story that it's that he says any bad if any of his traders or something play realize they coin like they're out of here or something i mean i guess he kind of have to say that right because what jamie dazzling might bank what what what his company does jp morgan i mean the whole financial system i ate add bitcoin could certainly turn that upside down it could turn its i could cernan sideways that may be upside down so you know when he said that adam does that a by signaller a cells tell me i too i think is there a fundamental ingredients reflected in a coma no i don't think it's ignorance i think i but i think it's a pattern that you see repeated in history where the incumbency new technologies and are threatened by the tabernacle technologies as they should be because at the core those technologies alter the could alter the way they do business may be in ways they can't compete with and bitcoin is one of the it's very early so it's impossible to say how will evolve but it has characteristics that are in a way the in verse of the way financial institutions or corporations in general work and so those are potentially a threat he said bitcoin is a fraud he had enough it's a fraud is it called state what's fascinating on is it is it be coin is if the block taint technology to me block chain has the potential to really unleash something powerful yes and bitcoin is a block tank technology bitcoin being a currency right type of blocked and there are many others it theory ms one.

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"jamie diamond" Discussed on FT News

FT News

02:01 min | 3 years ago

"jamie diamond" Discussed on FT News

"From the financial times in london i'm perfect jenkins the ft financial this is ft news jamie diamond the chairman and chief executive of j p morgan has said it's an embarrassment to be an american at the moment given the gridlock in washington over regulatory reform well with me to discuss why he might feel that way and his past form on this subject is martin onaled up banking editor so mountain you've been reporting about jamie diamonds latest comments he's not happy about being an american he's embarrassed he says what jamie didn't respond well to a question that was put to him on the second quarter earnings cold last week about fixed income trading and why jp morgan's fixed income trading which has been historically one of the main drivers of earnings growth the biggest us bank by market value and it was down nineteen percent yearonyear in the second quarter but he's at who cares about fixed income trading in the last two weeks in june and launched into a tirade about the political gridlock in washington and how that was a much more serious issue an harangued the journalists on the coal telling them they should be focused on that much more important issue than whether fixed income trading was up or down in the latest quarter and he said it's almost an embarrassment being an american citizen travelling around the world and listening to the stupid went repeats the swearword that he used we have to deal with in this country and he pointed to the need to reform taxes regulation and education he was very complimentary about france's new president emmanuel macron and he said tipping recent trips to israel ireland and france and he said that these three countries a deeply recognize the importance of having a business tax scheme for jobs and wage growth.

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