35 Burst results for "Morgan Stanley"

Wells Fargo Launches Passive Bitcoin Fund for Rich Clients

The Breakdown with NLW

02:13 min | 3 months ago

Wells Fargo Launches Passive Bitcoin Fund for Rich Clients

"Wells fargo has registered a new private bitcoin fund with us regulators. The fund is operated in partnership with the breakdown sponsor night gig as well as investments who've worked together on other funds such as i believe the morgan stanley bitcoin funds. According to a coin desk source the new wells fargo fund is passively managed earlier reports had suggested it would be an actively managed fund for wealthy clients on top of the wells fargo news j. p. morgan's passive bitcoin fund. Also a partnership with nine was also filed with the sec. Today so if you wanna know what people think of bitcoin just keep watching what they do not what they say next on the roof today. These scars of past crypto winters run deep according to a report from the wall street journal coin. B.'s has a pretty significant cash reserve at the end of june those reserves stood at four point three six billion dollars. That's up from one point. One billion at the end of last year quinn basis. Cfo lsu haas said we want to ensure that we maintain those cash reserves so can continue to invest and continue to grow our products and services in the event that we go into crypto winter. She also said that part of it could go towards acquisitions. I just want to point out that in a market that so many think is absolutely batty because it's disconnected from fundamentals. Queen base as a company is not only profitable but is keeping a large number of cash reserves on hand in the event of a rainy day. Something which basically no other companies do. So i don't know. Man maybe crypto has something figured out that other industries have forgotten last on the brief today. Brian quinn tens is stepping down from the cftc. Brian quinn tens is one of the most vocal advocates for crypto among the us regulatory ranks. The commissioner's term technically expired. Last april and he had previously planned to step down by october twenty twenty but ended up sticking around which he's legally allowed to do until the end of this year. He has been fierce about giving crypto a fair shake in policy discussions as well as advocating for the cftc's role in regulating crypto. According to the wall street journal he'll be gone by the end of the month and headed to the private sector where he intends to quote keep innovation particularly related to crypto currency and defy relevant to my career

Wells Fargo Fund Brian Quinn Cfo Lsu Haas Wells Fargo Morgan Stanley The Wall Street Journal Morgan SEC Quinn United States Cftc
"morgan stanley" Discussed on Morgan Stanley Ideas Podcast

Morgan Stanley Ideas Podcast

04:57 min | 4 months ago

"morgan stanley" Discussed on Morgan Stanley Ideas Podcast

"Emergency away. One car breaking down away from complete economic instability. And at the same time. We don't have child care system. We don't have an elder care system. We don't have the infrastructure for all of it and so we think what the pandemic did was it just revealed how precarious all of it has been. We did in fact have a childcare system wants in the us during world war two. The government realized that if it was gonna make rosie a riveter they have to figure out who was going to look after rosie's kids so the government gave grants to community groups to run nursery schools and daycares for the war effort. Ben we're fighting the war. They needed someone to work so they actually wanted women to work therefore they created the system so that women could go to the factories that rosie the riveter could be out there making weapons. Basically what you're saying is within the society and the government valued women working. It addressed the problem. I think that is what i am saying. Yes but when the war ended so did publicly funded childcare then along came the nineteen fifties images of the happy housewife that were sold really pro actively sold advertising as this is the right thing and then you also had pop science and kind of junk science telling you about the only way that you can successfully raise a child that the mom is there right. So we've internalized all of these different pieces and we continued get conflicting messages about it where women do feel the sense of responsibility in the sense of guilt over. Not figuring it out in for not being able to do it. All in the early nineteen seventies when women were entering the work force. Congress passed the bill that would have funded childcare across america. Fifty years ago in december president. Nixon vetoed the comprehensive child development. Act and that is the last time we came this close to having a comprehensive childcare and early learning system now the birth rate is the lowest been in forty years and it is not hard to imagine why part of the reason people aren't having kids because they heard the story. They know how hard it is to do. All the things that they need to be able to work and have a family and they're they're not having it but they might reconsider. If childcare wasn't such an obstacle. It's the scaffolding that holds everything else up. It's just that it's been invisible for so long. We need to have a childcare structure. That's what enables there to be productivity. That's what enables people to hold jobs and show up every day for work and when it comes to scaffolding and stimulating the economy julie sees caregiving as an infrastructure investment. You can't build out the important infrastructure we need. You know roads bridges broadband if workers are worried about their families and so the economy is really about making sure that from the time a child is born until the time that you are in your older years or that your aging or l. That there is support for you and to that we need that care system so that women and parents could equally participate in building the roads and bridges and broadband. So i think it's kind of all comes back together. That way has this. Pandemic pushed us to a breaking point where something has to give something has to give doesn't it. We can build a fighter jet and also a submarine but we can't seem to do that and children's issues or social services or human services issues. But i cannot leave on that note. Because i am an optimism. I don't think we're gonna sprints went up. Julie does not think that we'll screw this up. But even as people and corporations are waking up to the importance of the care economy so much depends on every sector including government coming together to create a childcare system that everyone can use. So what's going to happen with this real moment of well one of the things we've learned in this series and over the pandemic there are so many opportunities to do better when we think about. What's next can we imagine a world where well i don't know you don't have to remortgage your entire house to care for your elderly parent pay for childcare. Heck i can imagine a shopping mall. That didn't

rosie america Ben Nixon Congress julie Pandemic Julie
"morgan stanley" Discussed on Morgan Stanley Ideas Podcast

Morgan Stanley Ideas Podcast

04:32 min | 4 months ago

"morgan stanley" Discussed on Morgan Stanley Ideas Podcast

"Is not cheap. A year of daycare can cost upwards of eleven thousand dollars per child. It is a huge issue. And i actually go through the county or assistance and it helps out a lie. It goes by your income. If i did not get that assistance through the county. Might kids wouldn't even be able to go to this day care center and then what was sonia. A working single mother do. Many parents are watching at this moment to see what happens with president. Joe biden's proposed one point eight trillion dollar american families plan it would fund education paid family leave and childcare. Now it's still has to go through congress but it calls for a system where low and middle income families with paid no more than seven percent of their income for daycare for kids under five it would also raise wages and provide training for childcare workers now congress is gonna do what congress is gonna do but this announcement signals a huge shift for wealthy country. The us is way behind when it comes to women in the workforce and it is not good for anyone. Here's a number for you. Fifty seven billion dollars. One study found that. That's what the. Us economy is losing every year because of the lack of reliable childcare options. I asked you if she thinks. This is a hopeful moment for mothers especially women of color a deal. I think that you know you have janelle jones as the economist at the department of labor who coined the phrase black women best. Which is this concept that if black women are doing well everyone's gonna be doing better until sonia is just going to have to keep going..

congress sonia Joe biden janelle jones Us department of labor
"morgan stanley" Discussed on Morgan Stanley Ideas Podcast

Morgan Stanley Ideas Podcast

02:18 min | 5 months ago

"morgan stanley" Discussed on Morgan Stanley Ideas Podcast

"One of the women turned on her phone and started playing mariachi music. All of the staff came out and lined the driveway and they were singing. She was the queen latina like our psyche. She was the queen of the house here and they pay tribute to her by playing one of her favorite songs as she left. Who was very touched that this is what it looks like. When we value our elders sylvia was able to make the best choice for herself and her mother just like. Irene and iris fu so taguchi made a different but equally good choice in hawaii because well they had good options.

"morgan stanley" Discussed on Morgan Stanley Ideas Podcast

Morgan Stanley Ideas Podcast

03:04 min | 5 months ago

"morgan stanley" Discussed on Morgan Stanley Ideas Podcast

"Hello i'm scenario clinton. I've been thinking a lot about this conversation. I listened in on recently. Beat lauren right and her father. Willie right thirty degrees. I'm thirty three. I am getting older. And i'm having to do adult things. Like talk to my father about him getting older and being his. What's it called catty. I'm here power of attorney s and that's that's all you everything. Is you so as to reality of living as it. Were you know we have to be prepared to leave. We have to prepare to die. Listen i know this sounds like a dark way to start a show but let's face it. We're a year plus into a pandemic that has been deadly for elderly folks. We're all thinking about how we ourselves will spend our senior years. And if we're lucky we're having conversations just like this with love humor and a bit of francs. I told you can't die. And i will. This is a weekly conversation for lauren. And willie right. It's a conversation that feels more urgent because of the pandemic right. now willie loves living in cleveland. God bless him where he's a program manager for the national caucus in center on black aging. But he's getting older. He lives alone far from lauren. And he has diabetes. He thinks about his future every single day. I don't wanna be in anybody's nursing hall thing that's just not my. I saw not an option like and you're also not like ninety but eventually that will be ninety god willing and but what does that look like for me. What is what is what is seventy five. What is eighty look like. What does that look like for me. Baby boomers like willie right are redefining. What the golden years can look like or lease. They're trying they're going to live longer. That could also mean. They're living with more health complications. Like dementia the pandemic has forced us to reckon with how we treat in value our elders and the people who care for them. So how can we make that care better if we tackle that. Now what could seventy five eighty or fingers crossed ninety. Look like for willie right for our parents or even for us. He's just like a beacon of light. When you have that program. Like i spent on debbie get through high can finally get her in a place. That has a private room where she does have some dignity and respect. I'm scenario clinton and this is now what's next an original podcast from morgan.

lauren willie Willie clinton cleveland diabetes dementia debbie morgan
"morgan stanley" Discussed on Morgan Stanley Ideas Podcast

Morgan Stanley Ideas Podcast

01:43 min | 5 months ago

"morgan stanley" Discussed on Morgan Stanley Ideas Podcast

"Where <Speech_Female> <Speech_Music_Female> <Advertisement> <SpeakerChange> <Music> <Speech_Music_Male> <Speech_Male> we are <Speech_Music_Female> restaurant <Speech_Music_Female> startup phase. <Speech_Female> We're not able <Speech_Female> <Advertisement> to employ a <Speech_Female> <Advertisement> hundred carriers fulltime <Speech_Female> <Advertisement> but <Speech_Female> <Advertisement> that's the job of the co <Speech_Female> <Advertisement> op and <SpeakerChange> the worker owners <Music> will party. <Music> <Speech_Music_Male> <Speech_Male> In addition <Speech_Male> to the food stores united <Speech_Male> co op. jennifer is <Speech_Male> leading gig workers <Speech_Male> united. That's <Speech_Male> toronto union. <Speech_Male> For all at <Speech_Male> base careers <Speech_Male> now. Is that just <Speech_Male> couriers. Unionizing <Speech_Male> in canada <Speech_Male> and the us workers <Speech_Male> have been organizing <Speech_Male> industries previously <Speech_Male> not <Speech_Male> known to be union <Speech_Male> friendly in january <Speech_Male> more than six <Speech_Male> hundred google employees <Speech_Male> in the us <Speech_Male> voted to unionize <Speech_Male> while workers <Speech_Male> at an alabama <Speech_Male> amazon <Speech_Male> plant voted <Speech_Male> against a union. <Speech_Music_Male> In april after <Speech_Male> a protracted <Speech_Male> and very <Speech_Male> expensive campaign <Speech_Male> and a <Speech_Male> recent gallup poll <Speech_Male> shows the <Speech_Male> highest support <Speech_Male> for unions in the <Speech_Male> us in <Speech_Male> almost twenty years <Speech_Male> at <SpeakerChange> sixty <Speech_Female> five percent <Speech_Female> in that we <Speech_Female> we stand at <Speech_Female> a precipice of <Speech_Female> change for <Speech_Female> <Advertisement> labor rights for <Speech_Female> <Advertisement> workers. <Speech_Female> Are we going to maintain <Speech_Female> <Speech_Female> the same standards <Speech_Female> that we have or <Speech_Female> improve on them <Speech_Female> or are <Speech_Female> we going to see ourselves. <Speech_Female> Go back to <Speech_Female> you know. Maybe <Speech_Female> what work was like <Speech_Music_Female> in the early nineteen <SpeakerChange> hundreds <Speech_Music_Male> <Speech_Music_Male> <Speech_Male> think of the <Speech_Male> decades though centuries <Speech_Male> that workers pushed <Speech_Male> to shorten work <Speech_Music_Male> hours in the first place <Speech_Male> jennifer sees <Speech_Male> her work as <Speech_Male> an extension of <Speech_Music_Male> that movement. <SpeakerChange> <Speech_Music_Female> <Speech_Music_Female> I <Speech_Female> <Advertisement> think and i believe <Speech_Female> that

"morgan stanley" Discussed on Morgan Stanley Ideas Podcast

Morgan Stanley Ideas Podcast

07:24 min | 5 months ago

"morgan stanley" Discussed on Morgan Stanley Ideas Podcast

"That can have an impact on a whole organization. Twenty fifteen joe. Maria started working. I h nordic danish digital marketing agency that charges clients by the hour. He was then the head of events and partner relations and when jomar learned about the company's goal to shift to a four day workweek every friday off without pain employees less or making them clock sixteen hour days on so this is crazy. You're an agency. We rely on billable hours as well. So i was to be. Honest is quite skeptical. I thought there's going to be some catch lay. So what was the catch. Catch was okay. He was the catch as a company. We had to figure out how to do it. Does that make sense. It makes sense if you know that. In denmark and other scandinavian countries. It's way more common for companies to have a so called flat structure. The student work can talk to the ceo and tell them what they think can be improved and that would be unheard of in other cultures in japan and possibly the us and stuff like that. But it's just it's just how it is so after. The head of the company made the decision to shift to a four day. Workweek jomar in his co workers identified three hundred and fifty problems that needed to be solved to respect goal and in order to solve them in. This is really important. The ceo gave them dedicated time so once a month they had tools down and what i would call that was innovation. Friday innovation. Friday amid declined. Wickham on stuff but you look at processes process improvement and you break up into different taskforce groups on that try and then you presented at the end of the day what you're gonna do and all that stuff. They discovered ways to shorten meetings and keep them focused which included sending an agenda with every invitation. If you received a meeting invited and it didn't have a clear agenda you have every right to reject that meeting and say please. And the ceo did this a couple of times. He sent it out to people and they rejected it to him. They said sorry. This does not fit the standards so we'd agreed upon and when you have short meetings. It's it's amazing how you are smarter about your time tackle distraction and interruption with the pomodoro works technique involves headphones twenty five minutes heimer and a red light to show others. You're focusing. now they discovered how essential it was that everyone in the company buy into this shifting culture. I had a collie who said he tried doing. The pomodoro method in his old job but people. It's tapping him on the shoulder. Even though he had a time of it wasn't the understanding. You just come up as a real a home as a person because you're doing something against the culture so it has to be accompanied shift culture wise and come from the top because of comes from the top than its gospel to everyone. Denmark already had and efficient work culture that was conducive to working smarter. Plus the process of figuring out how the do a four day workweek created exponential value because we made improvements where inflammation and what we were doing was more transparent across the company way understood what each other's challenges were. I think the strategy was it would help retain and keep good employees but also attract good talent. Reducing work hours was good for business and other companies are figuring that out as well. Last year microsoft japan released a report that productivity went up forty percent when they shortened their workweek. The spanish government recently announced a trial that support companies across the country in reducing working hours as a means to among other things increase their productivity sweden found that nurses benefited mentally and physically and perform better when they worked less hours. So what's stopping it from becoming a thing that side as well labor economists. I talked to say it'll take a lot more data to sway most companies. But many point to something. Celeste talked about we value. Work itself not as a means to an end but as an end in and of itself. That mentality really took hold after world war two but as the boomers retire in jin's ears flood the workplace will their reputation for wanting more work life balance create lasting change. In the meantime we can look at companies like h to see what is possible over the course of two years their innovation. Fridays went from monthly to weekly and then they were eliminated altogether a four day workweek with the same pave same benefits. Same twenty five days vacation. God loved embark without working extra hours. Monday through thursday. Then the question becomes. What do you do with free friday. I think in some ways my wife was the best beneficiary of the four-day work-week. Because i had this nice little list of things to do which i was happy to do meant that we had a clear run for the weekend a three day weekend every week but still. Let's think about what you lose when you prioritize efficiency some of the solutions like the pomodoro sprints had an unexpected effect. His sound level did go down in office and it was something that as a group. We quickly realized that okay. People aren't laughing as much so it did I i think in the music times. It's like it's a compressor. It eliminates the highs and eliminates the lows. Bring the last back. They made a lot of extra. Social stuff happened in a really deliberate way. Like weekly bar thursdays lucky lunches where you ate with a random colleague and for me i have no reason to say this was a great thing or whatever but i really think it's something that companies should look at seriously and use some of the statistics that are available now. Having done this experiment as for jomar he moved on to start his own company. I do not work a four day workweek for anyone who's ever done their own business. You know you live and breathe that you love it but what is good is. I still do expense. I adjusted my g mail. Calendar to undo twenty minutes and forty minute meetings. You know so. I'm taking with me a lot of the things that i've led a we will 'cause it was also we had the level of empowerment and autonomy as employees and it's not every company. Ceo that's going to give up their power to the people right and that's not going to happen overnight. Giving power to the people we know that may not happen overnight but times are changing especially this past year. Some employers are experimenting with better conditions and benefits but elsewhere more and more workers are fighting for more sustainable and safer work over. The pandemic people stayed at home and ordered in the apps. People lost jobs and look for flexible. Easily accessible work via apps and gig work exploded. But this kind of.

Maria japan jomar Last year twenty minutes forty minute Monday forty percent two years denmark thursday Celeste Friday twenty five days friday twenty five minutes four-day sixteen hour three day three hundred
"morgan stanley" Discussed on Morgan Stanley Ideas Podcast

Morgan Stanley Ideas Podcast

08:21 min | 5 months ago

"morgan stanley" Discussed on Morgan Stanley Ideas Podcast

"In eighteen. Seventeen manufacturer robert owen proposed breaking the day into three equal parts. Eight hours for work eight hours for play an eight hours for sleep over about one hundred years that idea too cold but slowly finally it was in one thousand nine hundred eighty six after last global pandemic after decades of fighting by labor activists that henry ford was eventually convinced that workers were more productive when they didn't work until the breaking point an eight hour workday allowed him to run three shifts in a manufacturing plant two shifts to make the cars one for maintenance and in one thousand nine hundred forty. Us congress standardized the forty hour. Work week that was essentially the end of the movement to short workout. Back to celeste. Who came to a point when she realized something had to change okay. This isn't sustainable. So i'm gonna quit my day job. And i'm gonna focus just on the writing and occasional journalism and i think i had this idea that a big part of the stress and overwork was because of my job or my boss and it wasn't because when i did that it got worse it got so much worse. Many of us cannot quit our day jobs. But many of us can relate to what made this situation worse for seles. Especially if you wanna fantasize about working from home and then you found yourself doing that during the pandemic only to realize that when you work from home you're not working from home you're living at work. Sound familiar cova. Took the work anywhere anytime. Ethos to a new annoying extreme. It just meant that works started to claim every single corner of lives. People would get tired of working at their dinner table or their desk and they'd get up and take their laptop out on the porch not realizing that what you're really doing is training brain to think. Oh the porch is also a place for doing work. I mean you can see. It's just led to a situation in which ray are never relaxed. Its my my example would be my nephew closing his work laptop and then opening his personal laptop. Yeah that's like a that's not a transition brother. Exactly exactly says we have to remember that technology is just a tool and if it's stressing you out that simply means you're using it rights user error what everybody hates to hear from their. It department right. It's just user error and you just have to fix the way that you're using it. Our brains have simply not evolved to allow us to in a healthy way. Have our hands on a tool. All day long celeste. Points out that our brains can't really distinguish between work and play when it comes to how we use our devices that means that slack. Sedova coup merge into one creating untouchable time away from work away from electronics. That goes a long way to relieving stress when you're doom scrolling for updates or just on instagram keeps you in sort of a heightened state flight or fight for me. I often go on long walks. And i try not to listen to anything or anyone. It's so great so glad that you said this pretty much everybody does or close to everyone can find five ten fifteen minutes and let those minutes untouchable and those are for you and you alone for no intrusions by as you say the news manmade sounds anything else. Let them simply be free from electronics. Just you and the world but time isn't going to solve a hall of our overtime problems for a lot of us working more sustainably which means not burning out means understanding the pressure. We're putting on ourselves. And why something. I kind of know firsthand. It was around my forty six. Th birthday that it was like oh i'm not an underachiever literally lake. You had thought before that that you were yes. My entire life and celeste camera late. Yeah i mean. I i feel you hard because you know. My grandfather was the dean of african american composers. He's like genius with a capital g. My great grandmother was born in slavery and then went on to have her life story. Read into the congressional record. So yeah i also was like i just. I just work a job. The idea that's west is getting to is that. We're not allowed to feel burnt out because our elders didn't have it is good or because we think that the work we're doing just isn't as meaningful or important and you know what honestly it was thinking about my family that helped me you forgive myself and also realize that i was doing it wrong because when i started reading like my grandfather's journals and stuff he did a lot of nothing now by nothing. She means he grew vegetables. He had hobbies. He did things other than work and was still extraordinarily successful. So what's going on with us. Celeste says it all goes back to what she said. At the start our culture makes us feel like we can't stop grind it. This is all working on our subconscious. That when you sit down and watch a movie or check your social media feeds or any of the other things that you do. You should feel guilty. This makes me think about children when my favorite questions to ask kids is what they want to be when they grow up. And you know what's funny. They almost always rhyme off some job. Like pilot dr astronaut. Here's an idea. What about being no happy. We need to really examine our goals because most of us are living by means goals and their means to an end. And we've lost sight of. What is that end. Is it to be happy. Is it to be healthy. Is it to have a loving family. And when i'm talking about how monumental this task is. That's what i'm talking about like this is reorienting your life reorienting. Our lives rethinking. How and when and why. We're working hours we do. Sometimes it takes a personal health crisis to start asking those questions. Sometimes it takes a harrowing national experience like nine eleven sometimes well seems like it takes a pandemic and a strange as it may sound the breaking point so many of us have reached working through this past year. That's exactly where seles finds the hope. I think globally and especially in the united states people are daily coming to that realization. I had in that plane. And they're thinking. Oh god i can't keep doing this. I can't keep doing this. I can't keep doing this. And that means that you either have to give into it. Which i hope nobody does or you have to think. How do i change my daily life so that this doesn't happen again no matter who you are what you do. You've likely asked yourself some version of that question. Over the last year and that personal question has led to a lot of difficult conversations row. Childcare family leave paid sick days and a new focus on mental wellness. All things we've talked about already in this podcast and yet most of us don't have control over our work hours and kansas clock off when we've had enough but as joe maria can attest that doesn't mean big sustainable work life. Changes are possible changes.

robert owen Eight hours eight hours Celeste joe maria forty hour congress instagram one thousand five ten fifteen minutes united states two shifts forty six three equal parts one thousand nine hundred fort last year three shifts about one hundred years past year nine eleven
"morgan stanley" Discussed on Morgan Stanley Ideas Podcast

Morgan Stanley Ideas Podcast

04:49 min | 5 months ago

"morgan stanley" Discussed on Morgan Stanley Ideas Podcast

"You have to kind of go in with open eyes and understand the the monumental task ahead of you that you're literally have been brainwashed and you have to be deprogrammed. Celeste headley journalist and author is talking to you and me and she's talking about the forces that keep us all grinding to the point where we feel like if we're not working. We should be ashamed of ourselves. That if we're not productive we're not valuable all right. I've been there. She's been there is good chance. You've been there yourself celeste. Experience led her to write a book called. Do nothing how to break away from overworking overdoing and under living now. Do nothing sounds enticing. Especially for those of us addicted to the grind culture. You know that guilt you feel the need to keep working just a little bit longer thinking that may be it will be better tomorrow. I mean scenario. When was that actually true. When you worked the extra two hours and then the next day was to our shorter ever never know. So why do we keep doing it before. The pandemic are workdays. Were already long and too often. They were getting longer the so-called forty hour work week for many of us was stretching to fifty sixty seventy hours. We were already in such an epidemic of burn out globally that the w. h. o. Had recognized burn out as a an actual health risk in a syndrome for a lot of us. Things just got worse this last year people working from home saw the edges of their workdays gets even blurrier parents trying to fit zoom calls and slack messages around naps virtual school and those sacred hours after bedtime frontline workers powering through their days after nights after days. Then there are those of us who lost jobs and had to turn to the gig economy with this unpredictable. Ncaab hours actually unpredictable. Everything to be honest. This past year has been hard but it has forced us to examine how we work. And why we've been doing it like this for so long. We're going through life. Like people watching a movie with a doritos bag and at some point it just becomes mindless to constantly get another dorito out of the bag and then you get up at the end and you're like oh why do i have a stomach ache on this episode of now. What's next at original podcast from morgan. Stanley we are going to put down the doritos bag. And we're taking stock of the forty hour workweek and turning the people who thought long and hard about making work more sustainable from personal shifts. And when i'm talking about how monumental this task is. That's what i'm talking about like this is reorienting your life cultural shifts. The made the bold announcement to the company. We're going to move to the four day workweek two shifts. That could change the whole economy. How do we use the economy to create for ourselves. Sustainability and ownership and empowerment. I was scenario glutton. Let's go to work. I found myself at some point so over scheduled so over committed and just so unhappy and sick so for me. It didn't start as a book. It was just me trying to figure out what was going on. And how i could solve it celeste. The author of do nothing hit breaking point after a speaking engagements. She just couldn't cancel even though she was very sick. I was just like gripped with fear that i would lose my voice that i would sleep through the gig. 'cause sleep very well when you have bronchitis and so i was just pouring whatever over the counter drugs. I could get into my body. Just try to get through the next day and give that speech. She did it but pushing through actually pushed her over the edge and on the plane ride home. She felt awful. I started thinking. Why like wh why is my life. Why did i set myself up. So that i can't take a sick day and that's when i realized i have to figure out what's going wrong so i started researching. How she got there and she quickly realized she wasn't alone so many of us have crazy. Work lives that are simply unsustainable. It would help if we pause for a moment to get into the.

Stanley forty hour fifty sixty seventy hours tomorrow two hours last year two shifts Celeste four day This past year next day celeste doritos
Wall Street Giant Morgan Stanley to Bar Unvaccinated Staff

Morning Edition

00:21 sec | 5 months ago

Wall Street Giant Morgan Stanley to Bar Unvaccinated Staff

"Stanley has a new policy. No covid vaccination, no entry to its New York City area offices starting July 12th. If an employee or contractor

Stanley New York City
"morgan stanley" Discussed on Morgan Stanley Ideas Podcast

Morgan Stanley Ideas Podcast

07:20 min | 6 months ago

"morgan stanley" Discussed on Morgan Stanley Ideas Podcast

"So i packed one travel sized suitcase and i got on a plane. I was the only person on the plane. And i flew home from chicago and a soon as i landed. Wield my suitcase into my parents house. I realized this is real. This is something bigger than a little break from school. That's jacob sarasin. I'm currently twenty. One years old. And i go to school at arden's to chicago or at least he did when classes. I went online last spring. Jacob and his friends were thinking. Let's just get through this month. We can all handle it and we'll figure it out and the next year it'll be it'll be different but it wasn't a weakened zoom classes in september and he began to weighs options. I thought that i could do something else with my time. That's more valuable. It wasn't worth paying that much money to take classes that i felt were subpar not because of the professors or the students or the content but because of the delivery so the idea of you stopping school in my mind was lake kind of crazy because i think of all the angst and anxiety and i had about you choosing your damn school like you should know jacob's mom is a very good friend of mine and he's kinda like family and you get into the frigate art institute of chicago and now you like this not interesting. I'm going to go do something else. So what did you decide to do. I decided to take a course to become an emt which is a little different from art. School i will say a little different a little different. But i wanna be clear. Jacob left in-person art school because he felt it was too dangerous to be in classrooms during the pandemic then. He decided to become an emergency medical technician. You wanted to learn. It just didn't wanna do it over a computer screen. I'm doing cpr. For the first time. Or i'm trying to help out on a patient that was pulled from a vehicle in emergency room now. Those are lessons that you definitely won't get an art school studio. There's those moments. Where i'm i'm sweating and stressing out but it's never a yearning to go back. It's just a broad understanding of how privileged. I am just expanding landscape of of how i see things. I have to admit it is hard for me not to admire that choice. We all know that college can lead to great things better. Earning potential a longer healthier. Your wife even having healthier children then of course there's learning for the sake of learning the intellectual and spiritual growth. That happens college. It can make us better people and better citizens but when the pandemic pushed college into a long pause it made way for big questions and new insights that could change how we think about higher education for good from how we teach. I acknowledged my own personal vulnerability in ways that i never would have done in class before to the rewards of living on a college campus. Those are life skills negotiating a bathroom and you share it with sixteen other women you know if you can figure that one now you can probably close the biggest deal ever in business to the deeply held beliefs about what it takes to succeed. The first thing that comes to my head is that people lie to me. I'm scenario clinton and on this episode of now. What's next and original podcast from morgan stanley. We're looking to get school on higher education. These are good questions because these are things that people are really grappling with right now. That will take continue being an emt or willie go back to school. Well we'll find out about that later in the show. One thing is certain. Jacob is not going back to zoom classes. I don't blame them. But would you have stayed if he could have gone to an online course. That made him feel something like this. I would be engaged energized. When i imagine international law just imagine like a bunch of happy students. I just think of like having this motivation to learn but also the positive energy. That's like so hard to get across on zoom. That's bushra shake. She's a long way from her home and family and kashmir. She's finishing a very strange senior year at georgetown university in washington. Dc now the course bush was talking about international law is taught by dr elizabeth grim. I've taught it for many years. Many different semesters many different situations. And i thought that he'd been working really well. If i had not had the forcing mechanism of covid to change the class. I would not have changed the class in the way that i did that. The top of course last fall when the long term reality of the pandemic really started to set in. I think all of us at the beginning of march went into it sang artwork. We've got this. We're tackling this and that sort of adrenaline. Very much had evaporated. I think by. August twenty twenty and given rise to frustration and given rise to loneliness now. That's summer instructors. At georgetown got training in online teaching and every training session we received this guidance. Of just a you know students. Attention span on. Zoom is eight minutes long now as she sat through those zoom classes. Dr grim had to think about how her own lectures that clocked about fifty minutes with translate in this new world. I spent the whole summer basically about an hour two hours every day. Reworking the lectures into about ten or fifteen minute videos. Because let's be honest. I mean unless beyond records a fifteen minute video. I'm not going to watch a fifty minute video and so not gonna ask my students to do that either. Writing recording and editing video lectures was an easy at. I would say as we're recording this. I'm looking at my paper. Planners my multiple colored posted notes and colored pens. I mean i'm very much. A child of the eighteen eighties as far as technology is concerned but dr grim realized that teaching online during a pandemic was about much more ben the course material. Georgetown university said jesuit university and so one of the things that that means that at the core of our mission at the core of what it means to be a georgetown. Is this concept called share personal- so that means caring for the whole person. Taking into account their individual stories individual needs i was educated by the jesuits by self and the tradition is that who the graduate is graduating is as important as any skill set and i think in the old world for me what would be important as both the grasping of the details of the law and facts in various key tenants in two weeks and also the ability to critically analyze st precautions. But in this new world. I think for me the emphasis on empathy. The emphasis on humanity.

chicago Jacob jacob jacob sarasin september washington next year twenty frigate art institute two weeks last spring fifty minute first grim August twenty twenty about fifty minutes this month fifteen minute eighteen eighties last fall
Carrots Lead to the Right Outcomes

Cybersecurity Effectiveness Podcast

01:56 min | 6 months ago

Carrots Lead to the Right Outcomes

"So give me a little bit of background about you kind of outside of that world maybe on how you kind of got into the business and in the role you're in now and board involvement etcetera. We'll so you know i'm I'm a partnered up from ventures in a invest heavily in enterprise offer and And in southern california everywhere and with a focus on cloud and really cyber native cloud native cyber. And so i you know. My background is pretty evenly split between investing so i spent about a decade on the investing side but kind of book end of my career coming out of college. I worked first at morgan stanley in there then private equity group and then at battery ventures for five years and And then i went into operating roles for about a decade working big public companies as well as starting my own startup. a which upfront actually funded. So i have done the both sides of the table. And when i sold it i join them As a partner. But i think my early days kind of back up battery morgan stanley. It's funny because it was in a lot of ways. It's a lot of the same stuff that i invest in now. It's just like you know. Concepts like cloud didn't exist and it was. We're talking about moving data for mainframes into servers. But it was you know moving data in storage and security and you know communications infrastructure in the light. We talked a lot about all the different. Osi layers and stuff. That will make me sound. You know fancy from back in the day but the reality there is nothing else to fund back then so but yeah i mean. I've been you sitting on board. Since i was probably far too young to do it. So i kind of learned in the trenches at battery during like late nineties and early two thousand. And then i got to you know. Go get a real job and actually try to build things much much harder

Battery Ventures Morgan Stanley California
Elizabeth Warren Spars With JPMorgan Chase Head Jamie Dimon on Overdraft Fees

CNBC's Fast Money

01:17 min | 6 months ago

Elizabeth Warren Spars With JPMorgan Chase Head Jamie Dimon on Overdraft Fees

"The nation's top bankers taking some serious heat today on capitol hill see. Jp morgan citi goldman wells. Fargo morgan stanley and bank of america. Kicking off two days of testimony before congress. And if you wanna taste of how things went down. Check out this exchange between senator elizabeth warren and j. p. morgan ceo. Jamie dimon mr diamond. How much did j. p. morgan collect an overdraft fees from their consumers in twenty twenty. Your i think your numbers are totally inaccurate but blessed temporary public. I also want to point out. We did not overdraft. Can you just answer my question. John anymore than over and how much in fact to jfk mortgage collect an overdraft fees from their customers in two thousand twenty the number. I don't remember in front of me. I actually have. Non exceed three billion dollars. We waived the fees for customers upon request if they were under stress because cove it. But you can fix that right now. Mr diamond will you commit right now to refund a half billion dollars you took from consumers during the pandemic. Not pretty

Jp Morgan Citi Goldman Wells Fargo Morgan Stanley Senator Elizabeth Warren Morgan Jamie Dimon Bank Of America Congress John Mr Diamond
Dominican Catholic Sisters Help Create Climate-Friendly Investment Funds

Climate Connections

01:12 min | 6 months ago

Dominican Catholic Sisters Help Create Climate-Friendly Investment Funds

"Catholic sisters and nuns live quiet lives of prayer but some are wielding influence on wall street. Pat daly is part of a group of dominican catholic sisters who set out to make sure their congregations investment funds reflect their catholic values they to find a fund that supports climate-friendly projects that also help vulnerable communities. We wanted to make sure that we weren't just investing. Let's say a tesla bond but that the investments were really focused on getting green energy into villages and areas on the planet. They didn't even have energy. But the sisters could not find an investment fund that took this kind of holistic approach. So they teamed up with morgan stanley to create two new funds one public and one private that invest in solutions such as clean energy for sub saharan africa and small businesses in india. Sixteen congregations seated the funds with more than forty six million dollars which then attracted tens of millions more from other groups daily says the public fund has shown strong returns outperforming the market so the investments are doing well while also doing

Pat Daly Dominican Catholic Sisters Tesla Saharan Africa Morgan Stanley India
Chinese Lithium Giant Agrees to Three-Year Pact to Supply Tesla

Tesla Daily: Tesla News & Analysis

01:56 min | 7 months ago

Chinese Lithium Giant Agrees to Three-Year Pact to Supply Tesla

"Everybody rob now. We're here today. We were talking about a potential new battery supplier for tesla. Also we're going to take a look at two b s next delivery timelines some updates. That are happening. There tesla expanding to a couple of new countries and we'll take a look at the updated situation in china as well. We've got no morgan stanley discussing that. Calmer waters for tesla today. Seems like people were really looking for a green day and we got that today. Up three point. Two percent to five hundred eighty nine dollars. Seventy four cents. The nasdaq was really strong today. As well finishing up two point three percent super-quick correction from yesterday and apartments. Were not gonna talk too much about bitcoin today. Only about thirty seconds here. But yesterday i did mistakenly say that tesla started their bitcoin position. Mid march i was thinking of when they sold. A small portion actually started their position either in january or february and announced that on february eighth so just wanted to clarify that and one other thing that i wanted to point out. Just because i've seen a lot of discussion on whether tussles decision making here would influence institutional investors and things like that. It's probably worth remembering that when we talked to alex potter of piper sandler back in february. I asked if he had been getting a lot of calls about tesla investing in bitcoin. In the first place he said quote not a lot to be honest and then added quote. It's not as though we had us have been coming questions on bitcoin after this announcement and so just worth a reminder sometimes when things are happening people point to them as a reason for x. y. or z. Happening things can tend to get and feel very amplified but sometimes that doesn't necessarily match the not trying to say that the discussion about bitcoin and cryptocurrency as it relates to tesla is not important but sometimes in the day to day. Those relatively smaller pieces of the big picture can feel like they're just dominating the discussion and in those cases sometimes it can be helpful. Just have like cleanse and revisit. Some of the things that are relatively more important. So that you don't get or feel bogged down by the smaller details. So those are my thoughts on that and that is the last. We'll talk about bitcoin for the day and for the week pending ilan tweets while recording.

Tesla Alex Potter Piper Sandler Morgan Stanley ROB China
NYDIG Partners With FIS to Offer Bitcoin via Hundreds of Banks

Unchained

00:48 sec | 7 months ago

NYDIG Partners With FIS to Offer Bitcoin via Hundreds of Banks

"Bitcoin in your bank account fintech firm f. Fis is partnering with digital asset manager. Dick to bring about an industry first customers at hundreds of us banks will be able to purchase hoddle or sell bitcoin directly within their bank account without having to go through an exchange such as coin base or payment obligation like paypal ni- dig will handle custody insecurity. The program has already enrolled hundreds of smaller institutions as reported by cnbc night big is in discussions with several of the larger banks in the us. About bringing them into the program. Morgan stanley and goldman sachs have already announced that they will offer bitcoin funds to their high net worth clients with j. p. morgan repeatedly mulling a similar product. Perhaps the decision of smaller banks to train front run. Bitcoin adoption for the everyday customer will pressure the larger institutions to follow suit for their retail customers

Hoddle Bitcoin FIS Dick Cnbc Paypal United States Morgan Stanley Goldman Sachs Morgan
Dow Climbs More Than 160 Points to Another Record

News, Traffic and Weather

00:43 sec | 8 months ago

Dow Climbs More Than 160 Points to Another Record

"Closing highs today with blue chips pacing the events. The Dow Jones industrial average rose 164 points to end the week of 34,200. Blue chip index down in the fourth straight weekly game theme S and P 500 moved up 15 points also to a new high, the NASDAQ composite added. 13 points, Morgan Stanley reported first quarter profits that more than doubled and revenue that jumped 60% to record levels. But huge trading losses related to the hedge fund. Archie goes, weighed on Morgan Stanley's stock. Shed 2.8% U. S. Oil prices fell slightly halting afford a streak of gains make crude slipped 33 cents to settle it. 63 13 a barrel Still, though it logged a weekly rise of 6.4%, that's your money now. In the

Morgan Stanley Archie
Forced Liquidation of Archegos Positions Is Creating Chaos

Bloomberg Radio New York Show

00:37 sec | 8 months ago

Forced Liquidation of Archegos Positions Is Creating Chaos

"The forced liquidation of $20 billion in holdings linked to build banks investment firm. But he brought to market this morning. No stress for single names. Yeah, thanks. Credit Suisse over in Switzerland. Tom in Zurich Down by 13.8% brutal moves their journalistic 15 seconds of the anticipation this morning, a block trade of Viacom. Maybe through Morgan. Stanley. What? The billions number there is, we don't know, and you've got to look for debris from these other prime brokers. Is they unwind this busted trade operative phrase they had that you use Tom. We don't know It's still a lot. We don't know this morning. Yeah, There's no question about that One monitor

Credit Suisse Zurich TOM Switzerland Viacom Stanley Morgan
World stocks advance on optimism over pandemic recovery

AP News Radio

00:40 sec | 8 months ago

World stocks advance on optimism over pandemic recovery

"World stocks have advanced on optimism over a pandemic recovery she is also stronger in Europe all of the gains in Asia driven by hopes for a strong recovery from of the corona virus pandemic Paris London and Tokyo it belongs and U. S. futures also will hire investors appear to be shrugging off a resurgence all cases in many areas and focusing on signs the economy is on the mend and use little portfolio manager at Morgan Stanley investment management says there's a good chance the recovery could be surprisingly strong with little interference from the federal reserve I'm Charles Taylor this month

Morgan Stanley Investment Mana Asia U. Tokyo Europe Paris London Federal Reserve Charles Taylor
Analyzing The March Federal Open Market Committee Meeting

The Breakdown with NLW

01:06 min | 9 months ago

Analyzing The March Federal Open Market Committee Meeting

"Is the fed's federal open market committee meeting today. Ray now the market is getting nervous because they see the economy heating up and they just don't believe that the fed is going to be able to keep interest rates at zero for as long as the fed. Says they're going to how that's showing up in. The numbers is the ten year treasuries at its highest point in a year. The thirty year treasury is its highest since two thousand nineteen growth. Stocks are down and inflation. Expectations are the highest in twelve years. Then what does the market want to hear out of this fed meeting to me. It seems like they basically want more details. Powell has said over and over that they're staying the course and then he has pointed particularly to their employment goals and just how far they have to go before they reach them but again like i said market seem not to really believe that and i think they want chairman powell to outline exactly the circumstances that would make the fed change its tune and change its policies. Frankly i'm not sure how much detail powell is. Going to be. Willing to indulge right now when we're not actually in a crisis were just seeing stock prices that are finicky insensitive to the that they might be extremely

FED Federal Open Market Committee RAY Treasury Chairman Powell Powell
January China iPhone shipments reportedly grew over 150% versus 2020

Mac OS Ken

01:00 min | 9 months ago

January China iPhone shipments reportedly grew over 150% versus 2020

"Apple insider is how to look at a note to clients from morgan stanley analyst. Katie huber d. According to that. Iphone shipments in china grew one hundred fifty percent in january of twenty twenty one versus the same month a year. Earlier and boy is that growth going to be hard to beat. The of course in january of twenty twenty people in china weren't buying a lot of iphones what they're literally being locked down to stop the spread of corona. That said credit should also go to iphone twelve. Which is faring. Well with consumers the cording to the report apple is second for smartphone install base and continues to hold on to that position despite wall weighs continued increase in users over twenty twenty apple accounts for twenty point. Three percent of the chinese install base in wall way accounts for thirty two percent. Apple has seen five consecutive months of china. Install base gains up to january. Twenty twenty

Katie Huber Apple Morgan Stanley China
Alex Lieberman and Austin Rief Discuss the Origins of Their Company Morning Brew

How I Built This

03:35 min | 9 months ago

Alex Lieberman and Austin Rief Discuss the Origins of Their Company Morning Brew

"Year was quite easy me. Because i didn't have to re- recruit for any jobs. I only take two classes and two other than playing a lot of fi fi. nhl and other video games. I was like. I need to do something to pass the time and keep myself sharp for my job. All right so started helping other students prepare for job interviews and i would always start my mock interviews by asking the question. How do you keep up with the business world and the answer to that question was typically something along the lines of the wall street journal or cnbc etc. And i would dig a little bit deeper. I say why. Do you read these things and the students would say something along the lines of you know. I read it because that's what my parents told me to do. Because it's a prerequisite saying while reading business but it's dense and dry and i don't have enough time in my day to read the journal cover to cover and so at some point i was like this is crazy. These kids are working their asses off to have careers in business yet. They don't have content. That story tells the business world in a fun. And engaging way right and so i started writing a daily newsletter at the time was called market corner. It was a pdf that i'd put together using microsoft word and then exported into a pdf. The logo was bearable in a bullfighting literally. Took it off google. It had the watermark going across and send it out to a serve every day over email. One of the early readers. Was this guy named austin reef and austin revealed me and was like. Hey i have some ideas for how we can make market corner better. Can we chat wow. We met up for a conversation and quickly. I didn't think to myself. Wow this is my co-founder because it wasn't even a business. It was lobby. Yeah i thought to myself is. Everyone is really good at telling me. I'm doing a great job with this thing. Edit is wildly unhelpful. To actually make it better. Austin was the only person that i had spoken to who actually gave constructive feedback on. How market corner could get better. Yeah that's when i knew. It was a complementary brain to mind somebody who thought linearly objectively and so. I brought him on his. Let's call it like a partner at the time and one thing led to another and we ended up launching morning brew together in march of twenty fifteen. I think austin. You're also a student right at of michigan. Both you guys were there right. Yeah so most people initially reading this right university of michigan and you were just alex. You're just writing short newsletter linking bigger articles about the specific topic basically. Yeah it was. It was basically like fifty one hundred fifty word blurbs with link out to the full story and then kind of this other brain food related to business right like investor of the day stock pitch of the day. That's what it wasn't the beginning. And austin you come aboard near like hey you can really do this a lot better. And here's how so. When did you decide. Like how did you get to the point where the two were like. You know what forget about our jobs. Let's jump into this newsletter thing. It wasn't an easy decision. So alex had the job lined up at morgan stanley. I was interning at molson and company. Which is a investment bank in new york city and very quickly. I realized that that wasn't the path for me. And so we wanted to be entrepreneurs we had an idea and so we thought why not give it a chance and we saw growth. We saw this grow from michigan to other big ten schools to ivy league schools to i think the big inflection point is when we soul older people reading. We thought there's something for college students when we realized this could actually be read by anyone. That was a big moment for us when we thought wow. This has potential to be read by tens of thousands but a

Austin Reef Austin Cnbc NHL The Wall Street Journal Microsoft Google University Of Michigan Michigan Molson Morgan Stanley Alex New York City Ivy League
Institutions still underweight on AAPL despite strong 2020 growth

Mac OS Ken

01:20 min | 9 months ago

Institutions still underweight on AAPL despite strong 2020 growth

"Institutional ownership of apple. Shares is near an all time high according to morgan stanley analyst. Katie huber d but it is nowhere near enough and harassed mation could be helpful at this point to find out what institutional ownership is according to the site investo pedia institutional ownership is the amount of the company's available stock owned by mutual or pension funds insurance companies investment firms private foundations endowments or other large entities that manage funds on behalf of others. The site goes onto. Explain that once those institutions get into a company. They tend to stay there for a while. Not only this pulling shares out of circulation raise the value of shares outstanding. Their decision to get in can lead other investors to do the same despite being near all time highs institutional ship of apple is still under weight according to a note from hubert to clients posted on apple three not. Oh the way she and hers. Apple is likely to see revenue growth of twenty two percent in fiscal year. Twenty twenty one and earnings per share growth of thirty six percent. That's based on a few numbers. That i wish i understood but i sadly do not

Katie Huber Apple Morgan Stanley Hubert
Interview With Emma Grede

Skimm'd from The Couch

05:05 min | 10 months ago

Interview With Emma Grede

"Emma thank you so much for coming on the show. Welcome to skimmed from the couch. How i thank you so much for having way and mary excited to talk to you about everything that you've done but first let's jump into skimming your resume so my best job was when i was like twelve and i had to pay around and it gave me my best taste of cash. Which was just wonderful pitches stopped working since then. I went through the hosted in my life working in retail. And i had always weighty being about sasha i loved that world i come from place where you know. It was really devoid of any kind of fashion obama. So i found was really gravitating towards you. Know just the beauty and the supermodels and the brands you know. As i was growing up it was all about the saatchi and chanel and families that working in designer stores in and then my first proper job of coming out of college. I studied business at the london college of fashion and went straight into fashion. Show production avow myself in this really all. Its little niche because in london guests there. Was this amazing. You know london fashion week. Where all of these brilliant designers but nobody really had the money to put on this show. So i ended up in this strange donation of sponsorship and kind of creighton bronze collaborations with the great and the good of the british fashion industry. And that's weighty. Where taught my teeth. And i think that when i think about what it is today and where i've found my success it already started in those early days of being a production company and really learning how to bridge the gap between the creative businesses that fashion all and and more commercial bronze. And so. yeah. That was it for me. That's that was the beginning of it when something that people would be surprised to know about you. Oh i mean. I guess he will probably be surprised to know like how much about makeup i am. I guess maybe that's not something that you always associated with. Somebody who's an entrepreneur like my favorite thing to do is cooking and making things nice at the house. I'm an absolute festive fruit. Like the idea that. I get thanksgiving on top of christmas. Now i'm living in america could not be a need better. I'm not get to do that. Twice is at christmas participate so right now. That's all i think about is that. What is my thanksgiving menu table. Go look greg bat. That is my job. Elevate okay so. I love opening up our questions with entrepreneurs like yourself by talking about your childhood because our childhoods shape all of us and informs ultimately who we are in in how we make decisions. I want you to paint a picture for us about how you grew up in how you think that's shaped you. Yeah it's a great question on a great more. I failed so much of may an how i behave. How i treat people have chosen to comes from my childhood and you know i had a reedy great childhood. I grew up for e kind of a poll basically in east london very deprived area. And i say it so blatantly as that is because you know. It wasn't only devoid of glamour. It was completely devoid of opportunities. Everybody in that community had lived there their entire lives and you seemingly could get out of it. It was a huge jack of opportunity. A huge lacquers education and i saw for myself in my mother who really kind of broke through an managed to create something else for. She was a single mother with four children and my mom found herself. You know working in the stock exchange becoming a trader having a job for twenty plus years at morgan stanley. And that for me was you know it was just like a gateway sunday could see that you know you could create with with a lot of hard work and today and if you really did that you get rid of that to pay off then you could really really really change your outlook very very early on i. I really believe that the harder. I what the more likely would be to get myself out of. Why soares a pretty kind of dire situation but of course when you live and you grow up like that doing something you know. I could understand it if you're a doctor lawyer or going into banking fashion just didn't seem like a way out to me and so there are times in my life where i definitely thought. Oh am i on the wrong path which is ultimately why. I went and studied business at the london college fashion. Because i believe that. If i could set that foundation in business and have this specialism fashion that at least it would ground me that if all that fun bit didn't work out. I'd still have the basics of business. And i could go and run construction company. Also something

London London College Of Fashion Greg Bat Saatchi Sasha Emma Creighton Chanel Mary Barack Obama America Morgan Stanley London College
Is $50,000 BTC the Beginning of a Bitcoin Supercycle?

The Breakdown with NLW

04:19 min | 10 months ago

Is $50,000 BTC the Beginning of a Bitcoin Supercycle?

"What's going on guys. It is tuesday february sixteenth. And today we are talking about. You know it fifty thousand dollar bitcoin and specifically whether it's shows that we are in a bitcoin super cycle so i the news after a week or so of threatening the rubicon was breached this morning between seven forty five and eight am eastern time. Bitcoin punched up above fifty thousand. Now it immediately met cell wall and had a six hundred dollar candle down in is at the time of recording closer to forty nine thousand but to me that technical response is far less significant than these psychological barrier of a fifty thousand dollar being breached so today's special early breakdown is all about that. I reached out to followers this morning. Asking what topics you all thought were important for a fifty k. Show i also popped into a couple of different clubhouse chats to see what people were focused on and overwhelmingly across both of those mediums. The thing that people wanted to talk about is whether this is another indicator that we're in a bitcoin super cycle. I'm going to discuss this. It's going to be the main focus of the show. What the idea of a super cycle is where it came from what it might mean and some different ways to look at it but first let's blast through a few of the other topics folks wanted to disgust. Let's try to start with something that if not negative is sort of dismissive to be honest. It's kind of hard to find those bitcoin stomping face but here we are peter. Brant tweeted fifty. Thousand is a nice round number. That means absolutely nothing. Technically trying to sound smart just sound smart helps to define dumbness now. Let's contextualized. Peter is speaking to a trading audience and that trader audience are not supposed to in their own estimation get emotionally invested in an asset or let narrative shape. What they do. So let's give peter the benefit of the doubt and assume that that's who he's talking to however if he is truly arguing that technicals are all that matter about an asset. The easy rejoinder is that markets are by their very definition a constant give and take between narratives and technicals and frankly narratives tend to reshape the bounds that frame the upside and downside potential of those technical indicators either way for the sake of completeness i wanted to include something sort of negative but i think we can move on next. Let's discuss michael sailor. Just doing michael sailor things about five minutes before fifty thousand was breached. Sailor dropped a new press release from micro strategy long story. Short micro strategy is offering another six hundred million in debt and all the words of the press. Release our legalese. Except for this. Little line micro strategy intends to use the net proceeds from the sale of the notes to acquire additional bitcoins. Pomp summed it up perfectly when he tweeted. Michael sailor is carrying out one of the highest conviction investment thesis we've ever seen in public markets. Incredible to watch okay next. People are wondering how this happened. Or why will. I think the wise a little obvious. We saw an insane amount of positive news last week. Tesla b. and y. Mellon mastercard twitter. Deutsche bank morgan stanley. Every show for the last week has been about some type of crazy positive news. If you've been listening it's hard for that amount of positive news to not have an impact in other words. The specifics of win this fifty thousand dollar price was going to happen. Are for those technicals. That i was mentioning above to figure out but the overall momentum has clearly been in this direction. This actually gets me to another point. I was trying to articulate on twitter. We have this linear time bias. That when things happen quickly we tend to feel like that the thing that was before the you're comfortable with was the correct thing versus the new thing and the new change. That happened really fast. In other words. Bitcoin was between ten thousand. And fifteen thousand for a really long time so fifty thousand seems overvalued but what if instead based on what we now know. Bitcoin was in fact radically undervalued for that. Same ferry long time.

Michael Sailor Bitcoin Peter Brant Deutsche Bank Morgan Stanley Mellon Tesla Twitter Mastercard
Rad Power Bikes raises massive $150M round to scale e-bike business across globe

News and Perspective with Taylor Van Cise

00:50 sec | 10 months ago

Rad Power Bikes raises massive $150M round to scale e-bike business across globe

"Company is about to grow again Come most manufacturer has more on a major boost to rat power bikes for founder and CEO Mike Radon Bob It's been a wild ride actually started the business in 2007 as a sole proprietorship building. He bikes one at a time by myself in my Herds would shit now read power bikes has secured a $150 million investment. Radon boss says the money will focus on a number of things will be expanding our rad retail stores and rad mobile service fans. It's come to you or provide a great destination Location to come. Try our bikes ride power bikes, is now the largest teabag brand in North America, with more than 200,000 writers, the managing director of one major investor Morgan Stanley Counterpoint, Global says they're thinking their money into the venture because they believe he bikes will play an important role in the future of mobility. And a factor come on

Mike Radon Bob Morgan Stanley Counterpoint, G North America
Get ready for Apple's first $100 billion quarter in history

Mac OS Ken

01:47 min | 11 months ago

Get ready for Apple's first $100 billion quarter in history

"Site ran part of a note. From bernstein research analyst tony saginaw gi. Who no surprise is still pretty. Suck unagi kind of crazy. He is actually up to his expectations and a pretty big way. But he can't help the whole e or think pulling parts of his note. We are raising our first-quarter earnings per share estimates to a buck fifty three and fiscal year. Twenty twenty one earnings per share to four dollars and twenty six cents due to higher iphone. Asp's a weaker us dollar and better mac and ipad sales worth noting their earnings per share estimate of a buck fifty three for the december quarter higher than morgan stanley analyst. Katie hubertus estimate of about fifty yet is stoked and he is saginaw. Unagi quoting his again. So what's next on one hand. Our analysis indicates that apple outperforms sixty five percent to eighty percent of the time in the near term when revenue revisions or positive on the other hand opportunities for upward revisions for fiscal year. Two thousand twenty one estimates are likely to be more muted post. This quarter second. Quarter and fourth quarter. Revenues are typically seasonal. Apple will be staring down a very strong ipad and mac comparison in the second half and it's unclear. If next year's iphone cycle will offer compelling new functionality. Second doggy stays neutral on apple with a market perform raiding his price target on the company's shares as one hundred twenty dollars those shares closed thursday at one hundred thirty six dollars and eighty seven sense.

Bernstein Research Tony Saginaw Katie Hubertus Unagi ASP Morgan Stanley Saginaw MAC Apple United States
"morgan stanley" Discussed on Tesla Daily: Tesla News & Analysis

Tesla Daily: Tesla News & Analysis

05:29 min | 11 months ago

"morgan stanley" Discussed on Tesla Daily: Tesla News & Analysis

"Everybody rob power here and today. We're talking about a new note on tesla's stock from morgan stanley. They have increased their price targets significantly. Today after hours. We also have some news on the full. Self-driving beta report on monowai gross margins from china and some news that riven may be raising some more capital taking a look at the stock tussle. Today finished up zero point seven percent to seven hundred and thirty five dollars eleven cents that actually did trail the nasdaq which was up about one percent. But hereafter hours worth. Things have started to get more interesting. After morgan stanley released their updated tussle note. Tesla has jumped by about ten to fifteen dollars. One and a half two percent to read around seven hundred fifty dollars per share otherwise news on tesla was fairly light today. So we're gonna spend most of our time here looking at that note. And as i always say when we look at analyst notes a lot of this is just contextual and it gives us good jumping off points for discussion and things like this also gives us good perspective and insight into the kind of information. That's being circulated around the street. So right off the bat here. This morgan stanley note comes with a great headline. They title the no quote the chosen. One tesla industrializes internet of cars target two eight hundred and ten dollars and quote. That is a huge fifty percent increase over the previous price. Target of five hundred and forty dollars per share. They write quote. We update our forecasts and long-term assumptions. Following better-than-expected cue for deliveries sixty one percent year over year growth and five billion dollar capris raising twenty thirty volume to five point. Zero million units versus three point eight million and taking the price target two hundred ten dollars. Tesla is richly valued for a reason reiterate overweight and quote. Okay so what has changed. Here with morgan stanley's assumptions that has led to this fifty percent price targeted increase while they say they had better than expected volume this year. You four specifically. There's been a significant capillaries. And of course tesla was added to the s. and p. five hundred. So they beat morgan stanley's projection. They have risked and they've been added the s. and p. five hundred which has reduced the float effectively reducing the supply of tesla shares as for the actual changes to their model driving this higher price target. They say that quote the majority of the price target increase comes from the impact of our higher volume assumptions in our model and quote as i said they have increased their twenty thirty delivery forecast from three point. Eight million vehicles to five point two million vehicles and they say that they have now added to factories to their forecast for twenty thirty bringing their total tesla. Plant count to ten. I think that factory count is actually probably pretty close but that would only be you know. Five hundred eighty thousand vehicles per factory by twenty thirty. But it's become very clear. That tesla actually has ambitions of producing two million vehicles or so per factory per year. At least in the case of texas and dig your berlin shanghai. They've said one million plus so even just those factories plus fremont if can hit their production targets in those factories. Gets you to more than five. Point two million that jonas projecting here for twenty thirty as for their earlier year forecasts for twenty twenty one they have increased their projection from seven hundred seventy eight thousand previously now to seven hundred ninety two thousand and as a reminder just as recently as july they had actually been projecting just six hundred and twenty thousand four twenty twenty one so they've actually up that by about thirty percent in just the last six months for twenty twenty two the forecasting one point one five million. I'm not sure what that was previously for. Twenty twenty three. Then they are up from one point. Three five million previously now to one point seven million the fun thing about these increased volume targets from morgan stanley. Is that a few months ago. They did what they called. A great tesla rating. They started including things like mobility services as a recurring revenue from autonomy in their price target. So they're sort of having this ongoing opera moment this year. That as they now add vehicle volume into their forecast they now have to add additional services and revenue margin as well and that is where the game changes in terms of valuation for tusla. And the thing is you. Don't even need a fully autonomous robot taxi type of service to start adding that services revenue in when tesla's starts offering full self driving as a subscription. I think that is going to open a lot. Of analyst is to how tesla's business model is structured and will be increasingly structured going forward leveraging software. It's already easy to say. As i've said in the past that if you want to compare valuations show me another automaker that is selling a ten thousand dollar software option then we can make those comparisons but because that is all sort of right now lumped into the same revenue the same margin line on tussles earnings. People just aren't willing to recognize that yet as a separate line of business when tesla's starts offering full self driving a subscription even if they don't break that out on their earnings that forces a change in how analysts are forecasting and modeling tesla they have to start forecasting recurring high-margin revenue right. Now that's basically all just being pulled forward into that simple ten thousand dollar option which is great but it also makes it easier to ignore the other factor making it easier to ignore right now. Is that a big portion of that is still currently deferred revenue. So it's not actually showing up in earnings. But as tessa delivers more features this year less of that is going to be deferred tussles valuation in and of itself is playing a role here too because it has become so massive analysts have to cover this. They have to cover well. They're getting more and more resources to cover it. They're getting more and more questions as tesla's been added to the s. and p. five hundred those benchmarked funds managers. They need to know what to do with the stock so the coverage is just getting more and more intense and again because the evaluation hide they're going to be a lot of analysts running numbers sort of back testing against that valuation. Saying okay to justify this. This is what needs to happen for the company.

morgan stanley tesla china
"morgan stanley" Discussed on Biz Talk Radio

Biz Talk Radio

03:09 min | 1 year ago

"morgan stanley" Discussed on Biz Talk Radio

"Yeah. Okay. Uh, another question. Sure. Uh and 40, mate, huh? I felt were Morgan Stanley downgraded that, and it may go lower. I'm up quite a bit in and I didn't know that was Good idea to sell. I don't know. Um, Yeah, No, I wouldn't sell it. You know it is. You know what's interesting about that? Not just tell you because I've been looking into it over the weekend. That You know, it gives you some indication that they don't believe that the Obama administration is Obama The Biden administration. Same thing. The Biden administration is going to help this industry in general, and they're not One of the reasons why they're not is because, um Of what they're going to do the oil and fracking industry that's severely hurting this company. The thing that I love about it going down is Warren Buffett. Who supported by and is thinking twice right about now about what he did because he says, probably the largest stockholder in I am 48, so he's probably going to get clobbered, But it is It is very, very interesting. I don't know if you want to ride it out a little bit. But if I had to pick one to sell if I needed some cash, this might be it. Okay, Well, I'm not really needing to cash. I was just wondering strategically how to do that? Yes. Oh, yeah, I would stay in the I n area. You know, I wouldn't want you to get out. You know, I would want you to keep that money. Keep that money working. And, um I have a couple of industrials that are likely once the dust settles, if it ever does get Yet. You know, on my list Do you happen to own? I am 76. You probably don't know, because you don't know the name of that, but well Hold it up. So I am, uh, 76. If you own it. You could put some of that money into that if you don't own and I wouldn't buy it. It's none of my bilis, but $2 cost average. If it is a dollar cost average down for you Might not, you know? Yes. Oh, Doo doo on, uh in 26. And are you? Are you down or you're you're probably down on that right? No, I'm up on that. Oh, Europe. Hello. They had how long they had it. Box early this year. Like after April. Probably. Okay. Um, no, I wouldn't buy that because that's likely to go down under a Biden administration. I'm not saying he's getting in my saying that folks, I'm just saying. Um, they might have some issues..

Biden administration Warren Buffett Obama administration Morgan Stanley Obama Europe
"morgan stanley" Discussed on Biz Talk Radio

Biz Talk Radio

05:55 min | 1 year ago

"morgan stanley" Discussed on Biz Talk Radio

"Don't do any of that, or you're going to be pigeonholed into your coverage that you're allowed to have. Okay. They said original Medicare is part ape Part B. Yes. Yeah, Yeah. Good. Yeah. All right, Peter. Thank you. Oh, but let me go to Paul in Texas. Hey, Paul. Hey, Good morning. Good morning on wondering what is your opinion for the next couple years for IBM stock, especially in light of them having this announcement that by being next year they're going to stand off. A bunch of branches to quote what they're calling new collect. This time. I've got a horrible one k where I could transfer the money into there. And I just like your opinion. What do you think of them Long term? So it's a stock that I've always followed. I followed. Still, I don't have it on my list. It's not biblically responsible, so I don't ever recommend it, so I'm not recommending him, but I'll give you my opinion on it only because I follow it. I think that You know that the spinoffs that they're going to be doing is going to benefit them. S so I think it's gonna be good for them in the long run. I don't think it's going to have any immediate impact on think it's going to have an impact on them from a you know, like a three or four year impact because it's going to. Still they still have a lot of costs that they are going to have to get through. But I do. I do think it's going to be good for them. In the long run. They are doing some things that have been very good, uh, for the for the company they've actually seen, you know, a little bit of growth. I mean, this is a company that has been down for over six years. Um, you know if you look in any year anyway, or 12 months, 12 month period there, So, um I just think that they're going through. Who would have ever thought that IBM be going through growing pains, But they are. They're going through a change in what they do and how they do it Right now. Their valuation is extremely good. They pay good dividends. They will continue to pay a dividend. As long as their stock stays as lousy as it is. Once that starts to turn around. I suspect they'll cut the dividend. You know sooner rather than later, but You know, so That's I mean, that's that's it. I mean, it doesn't. They're not going anywhere. They're They're still managing to regroup and keep up with the times or at least in the last two years have been doing that and it looks like they're going to continue to do that. Okay, They're gonna be able to play any kind of accounting game or bacon, throw the pension liability of the new company or something like that. Um, they can do that new company. A new company will not want that. But IBM is gonna want to desperately get rid of it. So if a company wants to buy a piece or do something than certainly they will do it in a heartbeat if they get an opportunity to do it. Okay, thanks. All right. Thank you. 16 363 11 10 6 10 363 11 said, Let me go to John in Michigan. Hey, John. Morning, John. Thank you for everything you're doing. Sure. Um, Listen, I've got a Longstanding relationship with Morgan Stanley. However, I heard you mention a while back that they were biblically irresponsible. I want like to know what the issues are. Abortion, primarily their big supporters of Planned parenthood. If I pull up the screen on that it would it would look like abortion, pornography gambling. I mean, but they cover all of it, but they're big supporters of Planned parenthood. Okay, um I am a member. Uh and I'm 67 years old. If I were to move with Morgan, Stanley, I've got A rollover IRA and Iraq IRA. If I were a move that to somebody else and start a new rod Would I not be able to withdraw? For five years. No You wouldn't have any issues. Nothing would change. Nothing changed when cost you any money when cost you any tax. I mean, Morgan Stanley in my charge your faith because they're not. They're They're full service broker, and they can throw a C on their butt. They won't But nothing will. Nothing will change. Well, My broker is a fine Christian woman, but I still can't you know? I can't accept Morgan Stanley. So you have to find somewhere else. And yeah, I do have trouble. With the with the website trying to figure out what I'm gonna do, but I'll save that for another day when there's more time. So yeah, if you want, we can. And if you ask if you email pat Financial issues. Daughter work, She'll tell you who you might want to consider to move it to. I only have 11 no Company that I'd recommend, But you can do that if you want. But if you don't want to do it, you know, But check it out. I've got to to Cristian Guy is some kind of Okay. Good. Good, don't you? So Okay, Thanks a lot. All right Back to John. All right, C all right. 6 10 363 11 San If you want to kill your cough, you're welcome to do it. 16 363 11 10. I remind you to parlor I hope you're following me there at financial issues..

Morgan Stanley IBM Paul John Peter cough Cristian Guy Texas Iraq IRA Michigan pat Financial
"morgan stanley" Discussed on Mindy Diamond on Independence: A Podcast for Financial Advisors Considering Change

Mindy Diamond on Independence: A Podcast for Financial Advisors Considering Change

10:51 min | 1 year ago

"morgan stanley" Discussed on Mindy Diamond on Independence: A Podcast for Financial Advisors Considering Change

"Philo SA- left Morgan Stanley in January of two thousand nineteen a little more than a year ago. And certainly a very different time than we find ourselves in now. We're recording this on April eight the end of almost week three of corona quarantine. I WANNA spend some time talking about how you are navigating this crisis and the impact that being independent has on you and your business but would I love for you to just to offer our listeners. Some perspective so how much in assets were you managing when you left Morgan Stanley? We were managing approximately six hundred fifty million dollars. And how many were on your team? It was myself and my two partners that are currently with me other advisers and we had one service advisor Catherine and we had one fulltime admin staff and one part time that we shared with another adviser and I think you mentioned to me off. Line that you just hired an additional staff member kind of interesting timing giving the crisis while when we launched over wealth advisors we added a few staff members on. So it's myself my partner Jesse and my partner Joe I'm Katherine Dean. Who is a group director of Morgan? Stanley is now our director of operations and chief compliance officer and we brought over our existing staff so Linda. Who's our director of Operations Gina? Who was he had the Admin that we shared with another adviser came over with us. We hired another full-time customer service associate and we brought on a full-time performance coach. That works with clients and staff that works within your office that works for you not hired as a consultant. Grantee the full time employees. He works in the office. He works in meets weekly with the staff and he works with existing clients and with business owners. That's amazing that's that's really interesting and I assume not a role you would've been able to add to your team. Had you still been at a employee of a brokerage firm correct? Probably not probably not okay. Let's jump forward a bit to what the business looks like today. So how much in. Am Today. And I guess. I'd really like to know how your clients reacted to the news of you. Leaving Morgan to launch over wealth. So if you would've asked me that question the month and a half ago the number would have been different. But we're obviously in the middle of a market sell off You know we're approximately just shy of six hundred million dollars in assets and those are the assets that are spread among our Ria and we also are a hybrid advisor so we have some assets on the broker dealer side and your clients lay. How did they react to the news? Leaving more gunmen forming an RA. Y- that's a great question. Each client is different. Some clients were ecstatic. Very happy for us. Send the paperwork. Let's get going some clients wanted you know. Give me more information. What do you mean independent? They'd never heard of an RIA really. There were three levels of clients or three levels of information. Certain CLIENTS IT. Was We start our own independent firm we've affiliated or partnered with Schwab Custodian. Here's what it means to you. Great semi the paperwork some clients who are okay. Tell me what specifically are the changes? Tell me a little bit more about what that means to me. And then some clients were really granular. Okay what are my fees you know is anything going to change on my asset manager but for the most part the clients were very supportive. The big thing that we had to realize was the clients have busy full life and there are things going on behind the scenes and although when we launched we know that it was the most important thing time was of the essence you know. Send them the paperwork. WanNa get the accounts open. Transfer the assets and we knew that the teams at Morgan Stanley. The people in our office would be calling. I'm so it was imperative for us and we had to take a deep breath and realize that clients move at their own speed. There are many clients that there was no doubt that they were moving. But there were things going on in their lives said. They said I'll get to it next week. I'll get to it in two weeks. We had to think it'd be breath and deal with that. But for the most part the clients were very very supportive and very happy and anyone question. Who's Opel Wealth? What's Opel wealthy left? Morgan Stanley. A you know a name. We can get behind and understand to form what an WHO. Yeah absolutely in the initial calls the first calls we leaned on the Custodian. People have heard of Charles Schwab. No one had heard of Opel wealth advisors so it took a look a little explaining to to help them understand. What is a registered investment advisor? What do you mean you're an independent firm whereas my money is my money safe. Are you a Bernie? Made off you know is our my assets in my cashing in a bank account at chase under oath a wealth advisors. Luckily we spend two years planning this and we've spent months and months and months building out and scripting the answers to those questions. I'm so we were as prepared as you could have been and still not prepared enough but in the early days we felt comfortable and leaned a lot. On the custodial men guy and just a little bit about the kind of clients you serve. I know you offer a unique investment approach with four core model portfolio. So can you tell us about those clients and that investment approach sure? We have a very very clientele. I'M OUR CLIENTS ARE ENTREPRENEURS. Business owners retirees pre retirees executives. But I think there's one core theme that resonated most of our clients which is most of our clients have busy full lives at whatever they're working on most of them probably could figure out investments planning do it on their own yet. There's so much information out there and they just don't have the time to do it. So clients come to us to help guide them through that in terms of specific expertise. We do work with the number of entrepreneurs in exit planning which is helping owners understand the value. Their business helping them understand how to build a transferable business getting that business ready for sale. And we've actually helped the number of businesses over the last decade exit go to fruition. Okay let thank you for that great perspective so I want to focus a bit on current times navigating this unprecedented health and financial crisis. So I question. How busy are you and I guess. How do you spend your time these days? These last three weeks very busy. I get a very early. You know there's a lot of data a lot of information to read usually start reaching out the clients around eight thirty. My days are filled with dealing with staff in internal issues dealing with clients reaching out the clients proactively handling cleaning breeze and working on a number of business issues. I would say I have a very busy full days the last few weeks. Yeah I'm sure. A lot of advisers are telling us that they feel like drinking from a fire. Hose trying to balance communication with clients in running the business but also absorbing massive amounts of information from multiple sources to stay ahead of that. Sounds like a reasonable description. Yeah absolutely absolutely. There's no shortage of information I can't tell you how many PDF's webinars internal communications. I have received that probably received three hundred emails a day. So there's no shortage of information. There's no shortage of someone willing to give their perspective probably a reading five or ten different pianos listening to one or two webinars every day. And from where you get your information the most meaningful information that helps to sort of inform your conversation or perspective for what you'll share with clients during the day and I ask because if you were still with Morgan Stanley you'd get information from Morgan. Stanley presumably their research department. Every day would send you information to read. And that would inform largely your communication with clients but one of the main questions is especially in a crisis. Where and how do you get the information? You need a great question on. That actually goes back to a question after earlier that I didn't fully answer. You'd asked about our investment philosophy and how we manage money and this question kind of leads to that so when we launched over wealth advisors we knew we had to be committed to investment. Excellence right a lot of the large firms whether it be Morgan. Stanley Merrill Lynch they have hundreds of individuals teams that are dedicated to giving you their perspective. I'm so when we launched. We knew we had to replace that. My partners and I have been in the business for Fifteen. Twenty twenty five years so we're certainly not novices. Certainly have a number of resources that we can go to when we launched we formed an official investment committee and not only is it comprised of myself my two partners we actually brought outside consultants to sit on that investment committee. On these are pension downing consultants they manage money for some of the largest institutions in America. And when I say manage they can salt. They do research and rather than just having one perspective. It's have you worked for Morgan Stanley. You have one perspective. Their thoughts on the markets although lots of different individuals net organization. We felt that we wanted to continue that so rather than having one view are are outside consultant and US. We get research from twenty five different firms firms like bespoke strategic where there is no conflict they are just there to give data to give perspective our committee then colder all this information and determines how is it going to be applicable to our clients. Portfolios rates always building asset allocation models. It's also doing manager research. That leads me to answer your question that you just asked which is where do we get our information? With the absence of being part of a large organization there is no shortage of information out there. That was one of the things that concern initially when we started thinking about launching an independent firm which is how are we going to be able to replace the resources of a big firm? What a learned was there are. There is tremendous amount of resources everything from investment consulting to financial planning to operations to compensation structures. There's a whole industry or sub industry that has arisen over the last few years dedicated to ensuring that if you launch an independent firm. You're not going to skip a beat. So as we were building over wealth advisors we interviewed probably hundreds of service providers and filled in and built an outsource team of all experts. So every day it's investments..

Morgan Stanley Morgan advisor consultant partner director of operations Opel Stanley Merrill Lynch group director Schwab Custodian Philo SA US Gina Catherine Linda Jesse Charles Schwab Bernie
"morgan stanley" Discussed on Mindy Diamond on Independence: A Podcast for Financial Advisors Considering Change

Mindy Diamond on Independence: A Podcast for Financial Advisors Considering Change

11:52 min | 1 year ago

"morgan stanley" Discussed on Mindy Diamond on Independence: A Podcast for Financial Advisors Considering Change

"In the final analysis most advisers. Say to US boy if I could mushed together the best of choice a and the best of choice B and put them together into one. That's the firm. I'd go to unfortunately can't do that. So in the final analysis it's really about determining what is most important to you and then choosing the right firm based upon what's most important to you and knowing you're going to need to be flexible to some degree there will be some give ups absolutely and you're so right. I actually I think. Mindy said that exact line that if I could just get a fourth option that took this in this from option one and this and this from option two down the list that I would end up with that perfect Mr Potato head strategic partner for us to do this but I am very glad that we made the decision we made. I had to make the decision based on what I knew at the time what I understood at the time and of course you learn things as you go and you know. I've said several times. Are there people out there that don't use a strategic partner? They don't need their capital. They don't need their transition support. They don't need technology support or other services they can just go put his shingle. Kinda make the move and I think that there are and yet in my case whether or not that could have proven to be a really good decision for us. It doesn't matter because I wasn't GonNa do it. I wasn't ready to make the without a partner without someone that could provide that assistance and so from day one. We were not looking as to whether or not we were going to have a partner. We were looking. Who was going to be your self aware. You knew what you want how you wanted to live your life. And what core competencies were yours. What wasn't and you leveraged. What was available for the parts that you didn't get involved with? That's what it is to be a smart business owner so. I think you did the right thing at love to pivot David to ask you or to sort of raise. We obviously are in traffic with so many perspective breakaway advisors so these are advisers that like you sit at or sitting at any one of the wirehouse or major regional firms and looking at independence and see that certain aspects of it is very appealing the most which is to have more freedom and control but there are many things that they worry about as well and from where I said some of them are valid in some of them are probably more based upon myths than anything else. But I'd love to run them by you if I can sure okay. I won many believed that they need to be a serial entrepreneur. I joke they need to be more exotic Berg or Bill Gates. In order to make the leap. Would you characterize yourself as such an entrepreneur? And what role did the entrepreneurial mindset play in your decision to go independent well? No I wouldn't classify myself that way but I think that as I have delved into it. I have appreciated more and more the responsibilities of being an entrepreneur and of course the upside and the privileges. I'm grateful that I'm in an entrepreneurial position now but I do not think it is some sort of DNA or higher calling that you have to have to make the leap. I think it has to start. I know this sounds somewhat self-righteous but I just I believe it so much. I don't care I have to say it. It starts with whether or not you honestly believe you're servicing your clients the best way you can in your present situation. And I believe for a lot of people they likely know that they could be servicing. The clients in a far better way in a more independent fiduciary environment and so once you start with that as the primary driver. There's all kinds of things you can focus on as other advantages the freedom that is important entrepreneur. The you know I cannot now even comprehend having to get permission for different things that I used to have to get permission for all the time. It is an incredible blessing that I can just do the things I need to do to run my business to run my team and most importantly to service our clients so I don't agree that someone has to have this sort of entrepreneurial dream inside of them but I do think that they will end up appreciating the freedom aspect that comes with it. Yeah I happen to think you're a hundred percent right and I say to the advisors we counsel all the time that it's less about being bill gates and much more about do you believe that you as a fiduciary are truly best able to service your clients where you are and what happens often as people don't know you said it yourself you don't know what you don't know so very often until someone goes out and explores what it means to be independent whether it'd be listening to an episode like this where they're hearing from somebody the horse's mouth or whether it be going out and actually doing the exploration and talking with custodians or the lake themselves very often they think they're perfectly well situated and they're able to do the best they can. The problem and the conflict comes in for many of these folks when they begin to go out and explore and once they see that there could be a better way. You can't unsee once. You see it and you know that. There's a better way that there's a less conflicted way. And it doesn't mean that that's true for everyone. Certainly not but many advisers that look at independence can't UNSEE. They can't annot the fact that there is in fact a better way that a client can be better served. Better communicated with better priced have more freedom have better investment options etcetera elsewhere. And once. That happens. It's hard than to really stay complacent as an employee. Would you agree with that? Oh I agree completely and I think that once you get a taste to that as pertains to clients. You're also getting a taste of it. As it pertains to to other stakeholders that are very important. That is prospects. And that is your own team at. I would focus on that third aspect because I met a lot of senior wirehouse guys cared about their SIA say their administrative support they cared about their juniors planners or their analyst or whoever they kind of had around them but see now I have the ability to effect bonuses to affect ownership structure via equity in partnership to totally customize incredibly generous benefits. Plan profit sharing plan. You know parking benefits. We have a very lovely office in New York City. Which was another thing I could ever do it. Morgan Stanley by the way opened up a second office. And eventually I think third and fourth offices you get sort of a an expansion capability in the independent environment as opposed to just being a wirehouse employees but once I got a taste of how I could really better care for my team and their careers. I could never look back on that either where you always sort of lived with the reality in a wirehouse that they did not work for you. They were a W. Two employees of a firm and they could be reassigned. They could be shared with someone else. They reported to someone different than you. And I think that that is a big difference so when you look at the benefits independence allows in obviously how you service clients in how you care and manage your team but then also with prospects the things that you can go about doing. The freedom and flexibility. You have and I talked a lot about how content and thought leadership is a huge driver for us but just the overall environment that is not so tight around. Is there someone else in the firm? We might be talking to the person. Are you competing with your own colleague? You just have this. Total open architecture to communicate in your community as you please and I think those in all three categories I could never imagine going back. And how about the notion of leaving the big brand the Morgan Stanley name? What a lot of advisers say is. My clients are my clients. They trust me. They love me and as long as they know that I have their best interests at heart. They're willing to follow me anywhere. But when it comes to prospects I worry that if I give up the Morgan Stanley Merrill Lynch UBS fill in the blank big-name firm on the business card. And set up. You know an unknown name firm whether that be hightower the bonds in Group. How will prospects and clients respond to that? Well I think it's a legitimate fear and I don't imagine an adviser and proprietor would be human if they didn't think through it and yet I know you know this as obviously one of our industries most successful recruiters but the reality is that they are always questions that we have to ask only because we don't know what we will end up knowing which is that it's in our mind. Did Not their mind that at the end of the day. I don't really believe that. I suffered tremendously from the name brand issue but if one forced to pick post financial crisis if the name brand was a benefit or a curse it would be more curse than benefit. It wasn't a meaningful curse. It wasn't like I was walking into people all the time. We were saying because of the shenanigans out of a weight. I don't WanNa talk to you. It's a highly personal and rotational and individual business particularly here in America and there was something I learned. I mentioned earlier that I came out of the UBS acquisition painewebber. And I happen to know that the Swiss guys were just blown away out. What would happen when someone left painewebber to go to a competitor how all their clients would follow them? Because it didn't work that way in Europe it was more of an institutional relationship in an institutionally minded culture. And I think that the individualism that unique in American life has caused a big difference in even wirehouse defections. Everyone had boasted different story but for the most part people believe that they are client of their adviser not of their firm. I had a lot of confidence in that and I knew we were going to have a very high retention rate. I didn't know it was going to be a hundred percent. I didn't know that there were going to be clients adding new money in in the midst of transition because they were so overjoyed at US leaving but I expected it to be successful. It just happened to be more successful than I anticipated. But I'll tell you what I found out and I think this is important for. Why are people still considering it? Maureen Standard is a great firm has a great history. There have been periods of things that I'm sure that they regret as a company and periods of of great achievement and and sources of pride. But there's another very well known firm here in our country called J. P. Morgan and obviously there's a history where Morgan Stanley and JP Morgan actually had a connectivity back in the Nineteen Thirties. But I had half a dozen clients. Ask Me in my first few days of leaving if they were at Morgan Stanley or J. P. Morgan and it was humorous except for it. Hit me like a ton of bricks. These people had been clients at Morgan Stanley for years with me and they didn't even know the name of the firm. It was so important to them that they were part of bonds group and so unimportant to them. They're part of the firm that it just simply was a non event for them to be moving wherever group was going to be re Officing and so forth and I think that's what is true for most advisors who have stayed close to their clients and frankly with prospects. It's the same type of thing the only difference is you of course are not.

Morgan Stanley partner J. P. Morgan Morgan Stanley Merrill Lynch fiduciary US Mindy New York City Mr Potato UBS business owner Bill Gates David Maureen Standard Europe Officing analyst
"morgan stanley" Discussed on Mindy Diamond on Independence: A Podcast for Financial Advisors Considering Change

Mindy Diamond on Independence: A Podcast for Financial Advisors Considering Change

12:47 min | 1 year ago

"morgan stanley" Discussed on Mindy Diamond on Independence: A Podcast for Financial Advisors Considering Change

"Now I'd like to take a step back to your leap to independence. What was it that drove you? And what were the pushes impulse toward it. Well I and a lot of ways. I think that the wire houses themselves helped fertilize the appetite for independence because they became for good reason. Very focused on teaming. And you'd go to a Chairman's club event you'd be at some of the different company wide events and symposiums and things and there were breakouts and special speakers and and understandable Uh strategic significance put on this notion of teaming so you would taste a little bit. What the idea of maybe having a brand was supposed to be in having a division of labor and being able to hire and fire people and create more of a business like feel it was just enough to Kinda wet your appetite but then of course. You've figured out where you can't really do it. You can't really title people that you WanNa title them and and you're subject to the company's HR needs and requirements. The budgeting levels were highly regulated. It was not as entrepreneurial as it needed to be yet. You kind of at that point had a little bit of an issue for being more entrepreneurial and so that was really what started pushing me into owning it more was do. I actually want to run a business and if I do do I wanna kind of fake it in eighteen structure at a wirehouse or do I want to really actually go run a business and obviously I opted for the latter. Yeah so for perspective. Let's jump forward to what the business looks like today. How much announced it's just the firm manage and how many partners are and support staff or their today so we are at twenty five people that are actual employees of the organization includes the our partners and we are at two billion two hundred and fifty million so two point two five billion in assets that we are actually under management real hard custody assets. And so yeah. It's it's really been an amazing growth journey over these. Last five years it does represent a quadrupling of the assets that we moved out of Morgan Stanley. At the time that we've left and then as far as the personnel. We were at eight now at twenty five so obviously a little bit more than tripling of our headcount as well which is extraordinary. So what do you think it begs the question? I want to get back to. What version of independence and who? You chose your partners and all of that but we must ask must ask you. What accounts for that almost four x growth in assets and is it growth? You think you could have achieved under Morgan Stanley umbrella. Well so that last question I'll answer first because that's the easiest part an answer is unequivocally no I think we would have kept growing because I definitely have a growth mentality. I wake up every day looking to grow looking to be better than I was the day before we have aspirational an ambitious people on our team. So we would have continued to grow but there is absolutely no way that we could have experienced this kind of growth. Had we not gone the independent route? I believed that was the case. Mindy before we laughed that we were going to open up the doors to an entirely different university growth. But I never could have dreamed that I would be so right. I underestimated what that meant a better. That way than the other way around for real but I think of all the questions that I anticipated. You may ask in our time together today. This is the one that I'm most excited to answer about. Why I believe that was true for us what it was in particular because I listened to guests on on your podcast all the time and I talked to colleagues that have also gone independent. I've never talked to one ever. The didn't share appreciation for what they did. A fondness gratitude for having made that leap. I've never talked to one who hasn't grown in some degree but I think that there's probably different reasons for each person's ability to grow in an entrepreneurial independent environment and I really do believe that ours is somewhat unique what is shared in common the common ground that all folks who wirehouse environment to go independent have is itself the freedom and where that freedom leads to business growth could be different things for different people. Having you know a better margin in your business to spend more on marketing that could be an explanation for some people just simply getting away from conflicted environment having certain prospects that were never comfortable with your brand name that now become so all of those things make sense to me. They're all legitimate. But in our case content as a service was always at the core of what we were doing. And there is nothing that was more constricted at a wirehouse then your ability to create content. And there's nothing that we have more freedom in now than our ability to create content so we were driving interest in the communities that we serve we were generating awareness of who we are an army message via the content. We're creating we were trying to demonstrate competence and likeability in our circles of influence. And we did that at the wirehouse but once we went independent all of a sudden we could do it exponentially and that was to me. The primary driver of our growth is the enhanced freedom to be a messenger of original and thoughtful content. I believe it's been something that I never could have appreciated. How significant independent world facilitated since? I'm fascinated by that partly because that's exactly my philosophy and growing my business. I started sort of writing not because I had some marketing genius but because I liked writing and had something to say the fact that people started reading it or listening to a podcast was sort of Cherry on top so I'm fascinated by it and I couldn't imagine living in a world where I was limited or restricted from sharing my thoughts because some corporate overlords said. I couldn't so I get that totally. What are the forms the the platforms that you used to distribute to be the messenger of thoughtful content? Well of course we are big users of of social media but I don't think that social media is necessarily the primary platform it more tends to be distribution too that underlying platform very web driven very white paper driven. It's a combination that we kinda of take a multifaceted approach. I've written three books since I went independent. I've written every word of every book myself. I've written every of every blog post. Facebook post weekly market. Commentary podcast everything we do is fresh and original content. I have partners. That have their own creative properties my partner. Kimberly Davis Runs. Something called the fiscal feminist. It all stems from her originally and I don't have anything negative to say about those who choose to use ghost written content or to kind of you know. Whiteley bowl other thought leadership. I can understand why some may choose to go that route but it isn't us and we're never GONNA do it. There's something about the authenticity and the way it. Kinda stirs me in excites me. That is just very important and at the end of the day that accountability. What I'm saying has to be my own message. It's not just in my voice but it has to be my message and then I have to own what it is. I said for good or for bad. And so we have an authentic approach to it. And then the mediums. Now have all just Multiplied I it's you can send out email blasts but you can also postings to websites and used social media and then television media more conventional has been a huge thing for us. I'm a pretty regular contributor on Fox Business Fox News Bloomberg. Cnbc you combine those things with our web presence and with social with book writing it all makes for a pretty robust potpourri of content. Yeah well first of all congratulations on all of that. I think that the word authentic is really key to it I to write all of my own content and I do it. It's a labor of love. It's my truth I stand by it for better or for worse but it is the authenticity that I think people respond to so Kudos to you. Let me back up for a second. You talked about leaving Morgan. In two thousand fifteen and it sounds like it was a decision less. Because you were in pain less because it wasn't working in more because opportunistically you wanted to be able to do things that you couldn't do under the Morgan umbrella in that environment and it doesn't sound like it was Morgan specific. It was model specific. But when you left Morgan I know you chose to join hightower. What were some of the drivers if there were any to Morgan? And then why hightower? Well at the time that I was beginning to think about whether or not I was going to spend the rest of my career Morgan or not. I'd become a managing director. The firm I've been Chairman's Cup for years and I was pretty close with with the folks that were in senior management. I quickly learned that. It's hard to stay close with folks in senior management as they turnover so much but I had opportunity have dinner with Greg Fleming news now. Of course the head Rockefeller. But at the time was the president of Morgan's wealth management unit and I was in New York and we had a dinner together and I asked him will obviously without giving him any inclination of what I was thinking about but I asked him what he thought was the underlying key value proposition single differentiator that he would use to explain to someone why they ought to be. Morgan versus some of the other firms recognizing that of course there are great big firms out there. That had awful lot of capabilities. They had brand names. They had technology they had a vast array of capabilities from the murals in UBS in Morgan's of the what would make his line. Morgan that differentiator and he said their intellectual capital back from dinner. That night is just he and I together at dinner and tell was a little ways away and I was good early obsessed with what he said in my mind as I walked back to my hotel because all I could think of was a. It was a great answer. It was an honest answer. I think he meant it. It was it reached something that needed to be said that you would like to thank your firm hater intellectual capabilities in what is meant to be a very cerebral industry. There needs to be high quality. Competency thought leadership coming from those that are stewarding client capital and yet it just haunted me. How good all. It appealed to me how. I didn't use their intellectual capital. I didn't find their research particularly vital to my business and so I was here with the President of the company. Telling me what the key differentiator was for the firm. I was ready to spend the rest of my career at and had a significant amount of my net worth tied up into and all I could think about was that their best answer didn't really have any cachet with me and that kind of put me over the edge to take that beep to go forward and begin really vigorously exploring what independence would look like interesting and I know you have a unique relationship or somewhat unique relationship with hightower. Can you tell us a little bit about that? I can so we. We have a very close relationship in the sense that it's very friendly. I have a lot of respect for their senior management team. Now the the new folks that have been brought in is sincere. Latest investors came in. I think are really high caliber people but in our case we have a company called the bonds in group and hightower does not own any part of our company. We run our own finances. Our.

Morgan partner hightower Morgan Stanley Chairman president Kimberly Davis Facebook Cnbc Mindy UBS Greg Fleming managing director New York
"morgan stanley" Discussed on KUGN 590 AM

KUGN 590 AM

01:52 min | 2 years ago

"morgan stanley" Discussed on KUGN 590 AM

"For me than it is for these giant honest bank sector one whatever as they like I would be illegal for me to run these bull excrement ads at the likes of Morgan Stanley any other firms are running I went back and I took a look at the road about I wrote about that at your side campaign I I and I actually had some of the subjects I see some suggestions back then that you know truth in advertising when it comes to Morgan Stanley how you know I'm not a father explaining to her daughter that our wedding is going to be held down at the I hop because he lost a small fortune on Morgan Stanley's hot dot com stocks is back in two thousand five or how many lost a small fortune on the river I PO or better yet I'm gonna man remodeling his whole my wallpaper in his basement with worthless stock certificates perceives broker what an advertisement with an impressive looking stock analysts I don't like the soft and cuddly Morgan Stanley I know what she was called the first grade or ninth grade English teacher looking lady telling the sales force in his firm's investors how wonderful and terrific the prospects are X. Y. Z. corporation and your your you do you get the reality you cut to the happy hour at the local watering hole later in the day we're the same analyst after having a couple drinks in him start to boasting who is bodies about what a dog X. Y. Z. corporation is but who cares the banking fees paid for my flooring all the.

Morgan Stanley analyst
"morgan stanley" Discussed on KOMO

KOMO

01:30 min | 3 years ago

"morgan stanley" Discussed on KOMO

"Lucrative for fidelity or Morgan Stanley or Merrill, Lynch. I mean, we were told we. When I was a broker we were told to sell individual bonds people because it was a great way of not having to show them a commission. Yeah. Slippery. It's very opaque. Ache business, Mark. Thank you. Go ahead. Nine three five talk. Eight five five nine three five eight to five five Christian your next. Welcome to the show. We lost Christian. That didn't sound good at the end. There was not a good sound Christian. Do we it's kind of like they dropped Christian down a well. You call back the aforementioned number. Yeah. Yeah. That's the only problem with technology is that. Wow. You know, when when you were calling people on a copper wire it just always word seem to. Yes, it did. It did. I remember heading. With folk calls with copper wire only long distance calls about where people dropped the phone from the other. Oh, remember that. Yeah. Anyway. But these these different man. Deal getting up on the tower, etc. A lot of connections. Well, and you got to figure it jumping about three thousand times across the country. You have different switches before it gets. You actually pretty amazing..

Morgan Stanley Merrill Lynch Mark