Podcasts about blackrock inc

Welcome back to Going Public with Evercore's Glenn Schorr.On the latest episode of Going Public, we dive for the loose balls in private markets' March Madness as Glenn shares his thoughts on why it's important to separate the forest from the trees when it comes to why certain firms make his “Final Four.”We cover some of the most pressing topics in alternative asset management, including:Separating the forest from the trees — dissecting alternative asset manager stock performance versus long-term business performance.Views on the exit environment and what it means for alternative asset manager stock performance.Where and why does scale matter?Are banks and alternative asset managers enemies, frenemies, or collaborators, particularly in areas like private credit?Why does Glenn believe the secular growth trends of private markets and how that impacts alts managers is a fat pitch?In the spirit of March Madness, Glenn shares his bracketology on which firms make his “Final Four.”Subscribe to Alt Goes Mainstream to receive the weekly newsletter every Sunday and all of AGM's podcasts.Making private markets more public — with expert analysisAlt Goes Mainstream has partnered with an expert who has seen the evolution of alternative asset managers from their early days.Glenn Schorr is a Senior MD and Senior Research Analyst at Evercore ISI, where he covers brokers, banks, asset managers, and trust banks as an analyst. He has covered financials since 2000 and started coverage of alternative asset managers when the first firms went public.He's consistently come up as one of the most thoughtful and well-respected analysts in the space. He balances deep research with a creative flair (just read one of the titles of his research reports and you can see his love of the game). He's been named to Institutional Investor's All-America Research Team for his coverage, most recently ranking #2 and runner up in 2023, #1 and #2 in 2022. Prior to Evercore, Glenn was a Senior MD at Nomura, serving as the lead financials analyst. Listen in as Glenn shares market stories, the evolution of alternative asset managers as businesses, the biggest and most exciting trends in private markets based on what the industry's largest players are doing, and we go “around the horn” for his analysis on the publicly traded firms.Show Notes00:00 Introduction and Countdown00:06 Going Mainstream00:45 Welcome to the Series00:58 Meet Glenn Schorr01:31 Market Stories and Trends01:54 Live from Evercore02:04 Earnings and Market Volatility02:07 Secular Growth Businesses02:39 Anticipation and Uncertainty03:26 Alternative Managers' Performance04:36 Private Markets and Infrastructure05:53 Valuation and Market Corrections07:28 Investment Opportunities in Market Downturns07:54 Fundraising and Fee Related Earnings08:01 Capital Raising Challenges09:36 Super Alts Firms12:22 Brand and Consistency13:16 Acquisitions and Growth Strategies15:33 Banks vs. Alternative Managers16:26 Private Credit and Direct Lending24:45 Asset Classes Shifting from Public to Private Markets25:09 Duration Mismatch in Banking and Loans25:32 Regulatory and Capital Arbitrage26:01 Flexibility in Private Markets26:30 Impact of Stock Prices on Strategic Acquisitions27:01 Stock Deals and Control in Acquisitions28:29 Accretive Acquisitions and Capital Raising31:29 Scale Benefits in Private Markets31:50 Big Ticket Transactions and Scale33:05 Investor Understanding of Scale in Private Markets33:37 Challenges in Public Market Investment in Alternative Managers36:50 Long-Term Trends in Private Markets38:03 Risks in Private Markets38:55 Transparency and Oversight in Private Markets39:30 Thematic Investing and Long-Term Trends40:31 Private Markets Framework for Public Stocks41:30 Emotional Investing and Long-Term Capital43:25 Geopolitical and Economic Policy Impacts45:38 March Madness: Top 4 Manager Picks47:09 Conclusion and Final ThoughtsEditing and post-production work for this episode was provided by The Podcast Consultant.Company Coverage and DisclosuresEvercore ISIGlenn Schorr| Ticker | Company| APO | Apollo Global Management, Inc.| BAC | Bank of America Corporation| Glenn Schorr holds a long position in equity securities of Bank of America Corporation.| BK | Bank of New York Mellon Corp.| Glenn Schorr holds a long position in equity securities of Bank of New York Mellon Corp.| BLK | BlackRock, Inc.| BlackRock, Inc. is a client of Evercore LLC, and Evercore LLC has provided investment banking services to BlackRock, Inc. in the last 12 months.| Evercore ISI or an affiliate expects to receive or intends to seek compensation for investment banking services from BlackRock, Inc. within the next three months.| Glenn Schorr holds a long position in equity securities of Blackrock Inc.| BX | Blackstone, Inc.| Blackstone, Inc. is a client of Evercore LLC, and Evercore LLC has provided investment banking services to Blackstone, Inc. in the last 12 months.| Evercore ISI or an affiliate expects to receive or intends to seek compensation for investment banking services from Blackstone, Inc. within the next three months.| An employee, employee's immediate family member, director or consultant of Evercore ISI or one of its affiliates (but not the covering research analyst or a member of the covering research analyst's household) is an officer, director or advisory board member of Blackstone, Inc.| Evercore ISI or an affiliate has received compensation from Blackstone, Inc. for investment banking services in the last 12 months.| Analyst has a financial interest in a private equity fund managed by Blackstone, Inc.| Glenn Schorr holds a long position in equity securities of Blackstone, Inc.| OWL | Blue Owl Capital, Inc| Evercore ISI or an affiliate has acted as a manager or co-manager of a public offering of securities by Blue Owl Capital, Inc in the last 12 months.| Blue Owl Capital, Inc is a client of Evercore LLC, and Evercore LLC has provided investment banking services to Blue Owl Capital, Inc in the last 12 months.| Evercore ISI or an affiliate has received compensation from Blue Owl Capital, Inc for investment banking services in the last 12 months.| BSIG | BrightSphere Investment| C | Citigroup, Inc.| An employee, employee's immediate family member, director or consultant of Evercore ISI or one of its affiliates (b...

Alpine Securities Corp. v. Financial Industry Regulatory Authority (“Alpine’) raises a challenge to the constitutionality of the structure and regulatory authority of the Financial Industry Regulatory Authority (FINRA) before the U.S. Court of Appeals for the District of Columbia Circuit. Alpine Securities, a brokerage firm, argues that the structure of FINRA violates the U.S. Constitution, particularly the Appointments Clause (Article II, Section 2), and the separation of powers doctrine. The company contends that FINRA, which operates as a self-regulatory organization (SRO), is improperly structured because its disciplinary and regulatory authority is exercised without sufficient oversight by the federal government or the President, who would normally appoint officers exercising such powers.Alpine's central argument is that FINRA's board members are not appointed by the President, nor are they subject to Senate confirmation, as required by the Appointments Clause and the private non-delegation doctrine for officers of the United States. Alpine contends that, as a private, non-governmental entity, FINRA is composed of individuals who are not accountable to the public or elected officials in the same way that government agencies are. This, Alpine argues, makes its regulatory and enforcement powers unconstitutional. FINRA argues, however, that its regulations and enforcement decisions are under close scrutiny by the SEC, and, thus, that this delegation of federal power to it, a private regulator, is constitutionally permissible. FINRA also worries that accepting Alpine’s arguments could bring destabilizing and potentially disastrous consequences to the self-regulatory framework of the markets.The case involves questions about the balance between public regulatory authority and private self-regulation within the securities industry. The outcome could have significant implications for the structure of SROs like FINRA, which play a key role in regulating the securities industry but operate outside the direct control of the government.The Corporations, Securities & Antitrust Practice Group of the Federalist Society is pleased to present this FedSoc Forum on the Alpine case. Join us in discussing the arguments raised in the case and the DC Circuit’s opinion, as well as the implications for securities industry self-regulation going forward.Featuring:Brian Barnes, Partner, Cooper & Kirk PLLC, Lead Counsel for AlpineW. Hardy Callcott, Partner, Sidley Austin LLPModerator: Joanne Medero, Former Managing Director, BlackRock Inc.--To register, click the link above.

On this episode of The Unlimited Podcast, Brian welcomes Som Seif, a trailblazer in the Canadian wealth management space and the founder of Purpose Unlimited. Som's career is marked by a series of innovative milestones, from launching one of Canada's first ETF companies, to co-founding Wealthsimple, to creating the world's first Bitcoin and Ethereum ETFs. Som shares his insights into the evolving wealth and investment management landscape, highlighting the importance of aligning investment strategies with personal values and financial goals (sounds familiar to us here at Ginsler Wealth!). In addition, Som reveals the lessons learned from his business and entrepreneurial experiences, his vision for the future of financial services, and his best advice for success. Som Seif is the Founder and Chief Executive Officer of Purpose Unlimited, which he formed following the sale of Claymore Investments to BlackRock Inc. in March 2012 and the Co-Founder of WealthSimple Technologies Inc. Prior to Claymore Investments, Som was an investment banker with RBC Capital Markets. He has a strong commitment to community and is currently Co-Chair of the UofT Defy Gravity Campaign, a member of the AGO Foundation Board, and Next Canada Board. Timestamps 0:00 Disclaimer and Intro 4:56 Som's "Superhero Origin Story" 9:52 Som's Investment Banking experience 16:47 Launching Claymore Investments 24:42 Building Purpose 30:47 Founding Wealthsimple 33:24 Cryptocurrency & digital assets 39:40 Where does cryptocurrency fit in a portfolio? 46:14 Longevity Pension Fund 49:10 If Som would start a new company, what would it be? 51:12 Som's key advice for success 52:27 Outro

Welcome back to Going Public with Evercore's Glenn Schorr.On the latest episode of Going Public, we drop the beat on F.R.E.A.M. Paying homage to Wu-Tang Clan's song “C.R.E.A.M.” (“Cash rules everything around me”), Glenn discusses why “Fees rule everything around me” in asset management. We cover some of last quarter's most pressing topics in alternative asset management, including:How alternative asset managers balance fee generation with returns.Does major growth still lie ahead for alternative asset managers?Why “fees rule everything around me,” but so does alpha generation.Why does distribution (almost always) win in asset management?What's the most valuable aspect of a publicly traded alts manager having a public currency?What is Glenn keeping his eye on for next quarter?Making private markets more public — with expert analysisAlt Goes Mainstream has partnered with an expert who has seen the evolution of alternative asset managers from their early days.Glenn Schorr is a Senior MD and Senior Research Analyst at Evercore ISI, where he covers brokers, banks, asset managers, and trust banks as an analyst. He has covered financials since 2000 and started coverage of alternative asset managers when the first firms went public.He's consistently come up as one of the most thoughtful and well-respected analysts in the space. He balances deep research with a creative flair (just read one of the titles of his research reports and you can see his love of the game). He's been named to Institutional Investor's All-America Research Team for his coverage, most recently ranking #2 and runner up in 2023, #1 and #2 in 2022. Prior to Evercore, Glenn was a Senior MD at Nomura, serving as the lead financials analyst. Listen in as Glenn shares market stories, the evolution of alternative asset managers as businesses, the biggest and most exciting trends in private markets based on what the industry's largest players are doing, and we go “around the horn” for his analysis on the publicly traded firms. Show Notes00:00 Introduction00:38 Meet Glenn Schorr01:52 Wu-Tang Clan and Asset Management02:40 F.R.E.A.M.: Fees Rule Everything Around Me02:49 Public Investors and Revenue Streams03:47 Balancing Fee Growth and Investment Returns05:50 Talent Migration and Fee Justification06:38 Migration to Private Markets07:07 Deregulation and Its Impact09:31 Structural Challenges for Banks09:58 Growth in Alternative Asset Management12:19 Wealth Channel and Private Markets13:13 Private Equity Performance15:37 Education Process for Investors16:27 Perpetual Private Equity Products17:35 Model Portfolios: The Next Frontier21:00 Distribution and Asset Management24:24 Corporate Strategy and Partnerships in Asset Management27:10 Public vs. Private Firms29:56 Acquisitions and Growth Strategies31:09 Specialty Managers and Market Trends33:12 Big TAMs and Investment Opportunities36:15 Consolidation in the Industry38:16 Surprises and Trends in the Quarter39:44 Deployment and Investment Grade Private Credit40:03 Credit Cycles and Market Concerns41:15 Data Centers and AI Investments41:54 Size and Scale in Asset Management45:19 Bank and Asset Manager Partnerships46:15 Looking Ahead: Thoughts on the Next Quarter47:10 Conclusion and Final ThoughtsCompany Coverage and DisclosuresEvercore ISIGlenn Schorr| Ticker | Company | APO | Apollo Global Management, Inc. | BAC | Bank of America Corporation | Glenn Schorr holds a long position in equity securities of Bank of America Corporation. | BK | Bank of New York Mellon Corp. | Glenn Schorr holds a long position in equity securities of Bank of New York Mellon Corp. | BLK | BlackRock, Inc. | BlackRock, Inc. is a client of Evercore LLC, and Evercore LLC has provided investment banking services to BlackRock, Inc. in the last 12 months. | Evercore ISI or an affiliate expects to receive or intends to seek compensation for investment banking services from BlackRock, Inc. within the next three months. | Glenn Schorr holds a long position in equity securities of Blackrock Inc. | BX | Blackstone, Inc. | Blackstone, Inc. is a client of Evercore LLC, and Evercore LLC has provided investment banking services to Blackstone, Inc. in the last 12 months. | Evercore ISI or an affiliate expects to receive or intends to seek compensation for investment banking services from Blackstone, Inc. within the next three months. | An employee, employee's immediate family member, director or consultant of Evercore ISI or one of its affiliates (but not the covering research analyst or a member of the covering research analyst's household) is an officer, director or advisory board member of Blackstone, Inc. | Evercore ISI or an affiliate has received compensation from Blackstone, Inc. for investment banking services in the last 12 months. | Analyst has a financial interest in a private equity fund managed by Blackstone, Inc. | Glenn Schorr holds a long position in equity securities of Blackstone, Inc. | OWL | Blue Owl Capital, Inc | Evercore ISI or an affiliate has acted as a manager or co-manager of a public offering of securities by Blue Owl Capital, Inc in the last 12 months. | Blue Owl Capital, Inc is a client of Evercore LLC, and Evercore LLC has provided investment banking services to Blue Owl Capital, Inc in the last 12 months. | Evercore ISI or an affiliate has received compensation from Blue Owl Capital, Inc for investment banking services in the last 12 months. | BSIG | BrightSphere Investment | C | Citigroup, Inc. | An employee, employee's immediate family member, director or consultant of Evercore ISI or one of its affiliates (but not the covering research analyst or a member of the covering research analyst's household) is an officer, director or advisory board member of Citigroup, Inc. | Glenn Schorr holds a long position in equity securities of Citigroup, Inc. | BEN | Franklin Resources, Inc. | Glenn Schorr holds a long position in equity securities of Franklin Resources, Inc. | GS | Goldman Sachs Group Inc. | IVZ | Invesco Ltd. | JPM | JPMorgan Chase & Co. | Glenn Schorr holds a long position in equity securities of JPMorgan Chase & Co. | KKR | KKR & Co. Inc. | KKR & Co. Inc. is a client of Evercore LLC, and Evercore LLC has provided investment banking services to KKR & Co. Inc. in the last 12 months. | Evercore ISI or an affiliate has received comp...

Texas AG Ken Paxton breaks this story with Rose while she was guest-hosting for Hannity Radio Show. BlackRock Inc, Vanguard Group Inc and State Street Corp were sued by a group of states led by Texas for allegedly breaking antitrust law by boosting electricity prices through their investments in the highest profile lawsuit yet against the ESG industry. Rose: "Basically what they allegedly did was start buying up stocks of the major coal producers so they could force them to adopt their so-called green policies - which resulted in limiting the amount of coal they could produce using climate change as an excuse. That limits the supply of coal, and when you limit supply and not demand, the price of the coal goes up, which means they make huge profits and at the same time energy users have to pay more for their energy all with an eye supposedly to their mission which is to cut the supply of coal. " Rose's Sponsors: www.mypillow.com Promo Code: ROSE www.patriotmobile.com/rose Promo Code Rose www.americansforprosperity.org --- Support this podcast: https://podcasters.spotify.com/pod/show/rose-unplugged/support

Today marks the launch of a new show on Alt Goes Mainstream: Going Public with Evercore's Glenn Schorr.17 years ago, there wasn't a single alternative asset manager that was part of the public markets. Today, not only are a number of the industry's largest firms public, but in 2024, the industry's largest alternative asset manager, Blackstone, entered the S&P 500.Understanding the inner workings, strategic moves, and financial performance of the industry's largest players can help to explain many of the trends that are making alternatives become mainstream and these firms become mainstays in the financial services ecosystem.Going Public will make private markets more public with expert analysis.Glenn Schorr is a Senior MD and Senior Research Analyst at Evercore ISI, where he covers brokers, banks, asset managers, and trust banks as an analyst. He has covered financials since 2000 and started coverage of alternative asset managers when the first firms went public.He's consistently come up as one of the most thoughtful and well-respected analysts in the space. He balances deep research with a creative flair (just read one of the titles of his research reports and you can see his love of the game). He's been named to Institutional Investor's All-America Research Team for his coverage, most recently ranking #2 and runner up in 2023, #1 and #2 in 2022. Prior to Evercore, Glenn was a Senior MD at Nomura, serving as the lead financials analyst. Listen in as Glenn shares market stories, the evolution of alternative asset managers as businesses, the biggest and most exciting trends in private markets based on what the industry's largest players are doing, and we go “around the horn” for his analysis on the publicly traded firms. Show Notes00:38 Introduction to the Going Public Series and award-winning Wall Street Analyst, Glenn Schorr01:54 Glenn's Career Journey03:08 The Early Days of Alts Managers Going Public03:26 Skepticism and Challenges in Going Public04:06 Investor Skepticism and Challenges07:00 Transformation and Tipping Points09:03 Structural Tailwinds and Market Trends10:57 The Decision to Go Public vs. Staying Private12:39 Ambition and Vision in Asset Management14:51 The Distribution vs. Manufacturing Debate17:03 Lessons from Traditional Asset Management18:55 Discipline and Growth in the Alts Market20:03 The Future of Public and Private Markets20:50 The Role of Distribution in Asset Management21:59 Success Stories and Acquisition Strategies23:02 Manufacturing Competency vs. Acquisitions24:40 The Rise of Private Markets26:07 How Alternative Managers Make Money27:02 Valuation Factors for Alternative Managers28:44 Profitability and Margins in Asset Management29:23 Building a Business: Costs and Competitive Advantages29:50 The Moat of Success in Business30:15 Challenges for Traditional Asset Managers30:56 The Importance of Vision and Technology31:22 Scaling a Business with Proven Success31:40 Insurance Asset Management: Strategic Moves and Structural Advantages32:17 Structural Advantages in Asset Management33:05 The Rise of Private Credit Managers34:43 The Impact of Interest Rates on Private Credit Managers35:32 Navigating Rate Sensitivity in Capital Markets38:25 Deployment and Monetization in Asset Management39:08 The Challenge of Dry Powder in Private Equity41:14 The Role of Deployment in Investment Success41:46 The Resilience of Publicly Traded Alts Managers43:26 Spotlight on Blackstone's Growth and Innovation46:38 KKR's Global Expansion and Innovation48:41 Apollo's Market Leadership and Challenges50:11 Blue Owl's Strategic Investments and Challenges53:56 TPG's Public Transition and Growth55:11 Carlyle's Progress and Future Challenges56:11 Looking Ahead: Key Trends and ExpectationsDisclosuresEvercore ISIGlenn SchorrCompany Coverage and DisclosuresTicker      CompanyAPO         Apollo Global Management, Inc.BAC         Bank of America CorporationGlenn Schorr holds a long position in equity securities of Bank of America Corporation.BK            Bank of New York Mellon Corp.Glenn Schorr holds a long position in equity securities of Bank of New York Mellon Corp.BLK          BlackRock, Inc.Glenn Schorr holds a long position in equity securities of BlackRock Inc.BX            Blackstone, Inc.Blackstone, Inc. is a client of Evercore LLC, and Evercore LLC has provided investment banking services to Blackstone, Inc. in the last 12 months.Evercore ISI or an affiliate expects to receive or intends to seek compensation for investment banking services from Blackstone, Inc. within the next three months.An employee, employee's immediate family member, director or consultant of Evercore ISI or one of its affiliates (but not the covering research analyst or a member of the covering re advisory board member of Blackstone, Inc..Evercore ISI or an affiliate has received compensation from Blackstone, Inc. for investment banking services in the last 12 months.Analyst has a financial interest in a private equity fund managed by Blackstone, Inc.Glenn Schorr holds a long position in equity securities of Blackstone, Inc.OWL         Blue Owl Capital, Inc.Evercore ISI or an affiliate has acted as a manager or co-manager of a public offering of securities by Blue Owl Capital, Inc in the last 12 months.Blue Owl Capital, Inc is a client of Evercore LLC, and Evercore LLC has provided investment banking services to Blue Owl Capital, Inc in the last 12 months.Evercore ISI or an affiliate has received compensation from Blue Owl Capital, Inc for investment banking services in the last 12 months.BSIG        BrightSphere InvestmentC               Citigroup, Inc.An employee, employee's immediate family member, director or consultant of Evercore ISI or one of its affiliates (but not the covering research analyst or a member of the covering re advisory board member of Citigroup, Inc.Glenn Schorr holds a long position in equity securities of Citigroup, Inc.BEN          Franklin Resources, Inc.Glenn Schorr holds a long position in equity securities of Franklin Resources, Inc.GS            Goldman Sachs Group Inc.IVZ           Invesco Ltd.JPM        &nb...

BlackRock Inc. Chief Executive Officer Larry Fink said the market is pricing too many interest-rate cuts from the Federal Reserve given the US economy continues to grow. He speaks with Bloomberg's Francine Lacqua. See omnystudio.com/listener for privacy information.

Your morning briefing, the business news you need in just 15 minutes.On today's podcast:(1) Iran-backed Hezbollah accused Israel of orchestrating an attack that killed several people and left almost 3,000 wounded across Lebanon, increasing fears of an all-out war.(2) Traders who are locked into record wagers tied to the Federal Reserve's expected interest-rate cut Wednesday are risking sharp losses if officials opt for a standard-sized reduction.(3) BlackRock Inc. and Microsoft Corp. are teaming up on one of the largest efforts to date to bankroll the build-out of data warehouses and energy infrastructure behind the boom in artificial intelligence.(4) Steve Cohen has stepped away from the trading floor. While the billionaire hedge fund founder remains Point72 Asset Management's co-chief investment officer along with Harry Schwefel, he's no longer investing clients' capital.(5) The German Finance Ministry is sticking to a plan to sell off its entire stake in Commerzbank despite UniCredit's move to buy all the shares offered last week, according to people familiar with the matter.  See omnystudio.com/listener for privacy information.

Der eigentliche Grund dafür wird wieder einmal verschwiegenEin Standpunkt von Christian Kreiß.Mieterhöhung für eine halbe Millionen Mieter angekündigtEnde August sagte Lars von Lackum, der Vorstandsvorsitzende des zweitgrößten deutschen Wohnungsunternehmens in einem Interview: „Wir müssen die Mieten weiter erhöhen“.[1] Als Gründe, warum die im MDAX gelistete LEG SE die Mieten 2024 um 3,4% erhöhen wird, werden alle möglichen Argumente angeführt.[2] Nur eines fehlt: Dass LEG 2024 wieder eine Dividende ausgeschüttet hat, und zwar in Höhe von 181 Millionen Euro.[3] 2023 waren wegen eines großen Buch-Verlustes durch Immobilienabwertungen die Dividenden zum ersten Mal in 10 Jahren ausgesetzt worden.[4] Umso überraschender war für Marktteilnehmer, dass 2024 erneut Dividenden ausgeschüttet wurden.Wer zahlt die Dividenden?Die Mieter. LEG hatte 2023 Einnahmen aus Nettokaltmieten in Höhe von 834 Millionen Euro.[5] Setzt man hierzu die Dividenden ins Verhältnis, ergibt sich 21,7%.[6] Was heißt 21,7%? Das heißt, die Miethaushalte von LEG könnten 2024 eine Mietsenkung von 21,7% erhalten, wenn keine Dividenden gezahlt würden. Also wenn man keine Dividenden bezahlt, könnten die Mieten um ein Fünftel gesenkt statt um 3,4% erhöht zu werden. Das verschweigt Herr von Lackum, wie praktisch alle anderen Immobilienspezialisten auch. Unehrlichkeit und Heuchelei in diesem Punkt sind hier vollkommen normal und so stark verbreitet, dass fast niemand mehr darüber nachdenkt.Dividenden werden gezahlt, nachdem alle Wartungs- und Renovierungsarbeiten getätigt sind, nachdem der Rasen gemäht, alte Fenster und Dächer repariert und die Steuern gezahlt sind (wenn welche nach Ausschöpfung aller Steuerberatungstricks bezahlt werden). Also Dividenden sind der reine Extra-Profit, der nach sämtlichen Kosten und Aufwendungen übrigbleibt. Also das Geld, das man einfach nicht mehr braucht für Renovierungen oder Investitionen, für das Bauen neuen Wohnraumes, das man auch in der Zukunft nicht investieren will, sondern lieber an die weit entfernt wohnenden Aktionäre auszahlen will. Nach der Auszahlung ist das Geld weg, weit weg.Wer bekommt die Dividenden?Die Aktionäre. Wer sind die Hauptaktionäre? Die beiden größten Aktionäre von LEG sind MFS, Massachusetts Financial Services Company, Boston, mit 13,6% und BlackRock Inc., der 10,2% der Aktien gehören. Insgesamt entfallen 10% des Aktienbesitzes auf Aktionäre in Deutschland. Die allermeisten Aktionäre wissen also nicht wirklich, wo eigentlich die 166.500 Mietwohnungen mit etwa einer halben Million Mietern sind. Sie halten nur die Hand auf und arbeiten nicht dafür. Gar nichts. Genau das ist das Grundprinzip der sogenannten leistungslosen Einkommen, passiven Einkommen, Nicht-Arbeits-Einkommen. Man muss nicht dafür arbeiten. Die Mieter für ihre Miete schon...... hier weiterlesen: https://apolut.net/wir-muessen-die-mieten-weiter-erhoehen-von-christian-kreiss+++Bildquelle: Ralf Gosch / Shutterstock.com+++Ihnen gefällt unser Programm? Machen wir uns gemeinsam im Rahmen einer „digitalen finanziellen Selbstverteidigung“ unabhängig vom Bankensystem und unterstützen Sie uns bitte mit Bitcoin: https://apolut.net/unterstuetzen#bitcoinzahlung Hosted on Acast. See acast.com/privacy for more information.

Teresa Ghilarducci knows retirement. A labor economist and professor at the New School for Social Research in New York, she's long studied the shortcomings of how the US handles preparing for citizens' old age.Much of the financial industry is devoted to running retirement funds—$25 trillion in traditional pensions, 401(k)-style plans and annuities and $13 trillion in individual retirement accounts. But Ghilarducci says tens of millions of workers aren't getting the help they need to save. It's a problem worrying some on Wall Street, too: Larry Fink, chief executive officer of BlackRock Inc., the world's largest asset manager, devoted his latest annual chairman's letter to the need to shore up retirement savings.See omnystudio.com/listener for privacy information.

 Bloomberg Radio host Barry Ritholtz speaks to Samara Cohen, senior managing director at BlackRock Inc. and chief investment officer of the firm's ETF & Index Investments. She is also a member of BlackRock's Global Executive Committee and its investment and talent subcommittees. Cohen is also the Global Executive Committee's sponsor for BlackRock's Women's Initiative & Allies Network and a member of the Global Diversity, Equity and Inclusion Steering Committee. She was previously a managing director in the securities division of Goldman Sachs Group Inc., where she built and led the global market transition team following the 2008 global financial crisis.  See omnystudio.com/listener for privacy information.

In an unprecedented surge, newly launched Bitcoin Exchange-Traded Funds (ETFs) have skyrocketed in trading volumes, hitting over $10 billion in just the initial three days. This explosive debut, led by financial giants such as BlackRock Inc, Grayscale, Fidelity, and VanEck, marks a significant milestone in cryptocurrency trading. Despite this surge in ETF activity, Bitcoin's spot prices remain subdued, indicating a potentially shifting landscape in the digital currency market. Key players like the BlackRock iShares Bitcoin Trust (IBIT) and Grayscale's Bitcoin Trust (GBTC) are at the forefront of this trading frenzy. However, GBTC has seen substantial outflows, suggesting a market inclination towards more competitively priced options. Contrasting Bitcoin's sluggish spot performance, Ethereum shows resilience with an over 8% gain against the US dollar.

BlackRock Inc's Q4 2023 earnings call, unedited

In a dramatic turn of events, Bitcoin (BTC) faced significant volatility in its recent trading session. Triggered by a security breach at the US Securities and Exchange Commission (SEC), the cryptocurrency saw a tumultuous day. Initially, Bitcoin's value dipped below $45,000 before recovering during European trading hours. However, the resurgence was short-lived as it fell again with the opening of US markets. The volatility was fueled by a hacking incident on the SEC's Twitter account. The hacker falsely claimed the approval of spot Bitcoin exchange-traded funds (ETFs), a development eagerly anticipated by major financial institutions like BlackRock Inc, VanEck, and Grayscale. SEC Chairman Gary Gensler quickly addressed the false information on his personal Twitter account. Despite the chaos, Ethereum (ETH) gained on Bitcoin, demonstrating resilience and growth amidst the turmoil. In contrast, the wider altcoin market, including Solana (SOL), BNB, Ripple (XRP), Cardano (ADA), and Dogecoin (DOGE), faced minor setbacks. Avalanche (AVAX) notably experienced a significant decline. #ProactiveInvestors #Bitcoin #Cryptocurrency #SEC #TradingVolatility #BitcoinETF #Ethereum #Altcoins #CryptoMarket #DigitalCurrency #CryptoNews #Blockchain #Investing #FinanceNews #MarketUpdate #BitcoinTrading #CryptoVolatility #SECNews #Cybersecurity #FinancialMarkets #CryptoTrends #InvestmentStrategies #CryptoUpdate #MarketAnalysis #FinancialTechnology #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews

Tennessee Attorney General Jonathan Skrmetti filed the first-of-its-kind consumer protection lawsuit against the world's largest asset manager, BlackRock Inc. He discusses the issue with Dan Mandis.See omnystudio.com/listener for privacy information.

BlackRock Inc.'s CEO Larry Fink expects 10-year Treasury yields to top 5% as shifts in geopolitics and supply chains make inflation more persistent. Fink said the US economy remains vibrant, and a recession, if it happens, might not take place until 2025. Meanwhile tokenized assets like treasuries are booming in DeFi.

Crypto fanatics have been pining for a Bitcoin exchange-traded fund for a decade now. But as the applications piled up, US regulators repeatedly declined to approve one, citing the risk of fraud and market manipulation in cryptocurrency markets.But with the entrance of BlackRock Inc. into the race, many market watchers are hopeful that one or more spot-Bitcoin ETFs will finally get the go-ahead. After all, the world's largest asset manager has a strong track record of getting funds past regulatory roadblocks. On this week's episode of the What Goes Up podcast, Eric Balchunas and James Seyffart from Bloomberg Intelligence join to discuss how BlackRock's application dramatically changes the outlook for Bitcoin ETFs.“When they filed, it was a whole different ballgame in my opinion,” says Balchunas. “The fact is they generally like to bring a gun to a knife fight. This is a firm who doesn't like to lose, who knows what they're doing, and they must see something.”See omnystudio.com/listener for privacy information.

BlackRock, Inc., Q2 2023 Earnings Call, Jul 14, 2023

US Federal Reserve officials have been adamant that they're looking to get inflation levels back down to 2%. But the path to that goal could bring pain to millions of workers, a possible trade-off that “doesn't make sense,” according to Rick Rieder, BlackRock Inc.'s chief investment officer of global fixed income. “This whole idea of there's a magic to 2% doesn't make any sense to me. You just had immense stimulus—let it play out,” he says on this week's episode of the What Goes Up podcast. “Interest rates—how much would you have to move them to get the unemployment rate to a level to slow wages? It's not worth it. Why would you take millions of people out of work because you need to go from 2.7% to 2%?” He called the Fed goal a search for “mystical perfection.” BlackRock manages about $2.7 trillion in fixed-income assets for its clients. Rieder adds that the segment of the population that gets hurt by higher inflation is the one that would bear the brunt of any potential layoffs. Meanwhile, raising rates creates an income benefit to wealthier people who tend to be savers, he says. “It's illogical to me.”See omnystudio.com/listener for privacy information.

Over the past decade, about 30 spot Bitcoin exchange-traded fund applications have been swatted aside by the US Securities and Exchange Commission. The outlook appeared dire. And then a surprise filing by BlackRock Inc. in mid-June seemed to change the mood. A rush of new applications and amendments to existing proposals soon followed. And Ophelia Snyder—co-founder and president of 21Shares, who had re-filed a spot Bitcoin ETF application with ARK Invest in April—was in the mix again. On this episode of Trillions, Eric Balchunas and Joel Weber dive into the never-ending race for a Bitcoin ETF, joined by Snyder and James Seyffart, an ETF analyst with Bloomberg Intelligence. The group discusses the new attention on market surveillance, what Coinbase's involvement means, the odds of any of these applications actually getting approved—and the size of the potential market. See omnystudio.com/listener for privacy information.

Over the past decade, about 30 spot Bitcoin exchange-traded fund applications have been swatted aside by the US Securities and Exchange Commission. The outlook appeared dire. And then a surprise filing by BlackRock Inc. in mid-June seemed to change the mood. A rush of new applications and amendments to existing proposals soon followed. And Ophelia Snyder—co-founder and president of 21Shares, who had re-filed a spot Bitcoin ETF application with ARK Invest in April—was in the mix again. On this episode of Trillions, Eric Balchunas and Joel Weber dive into the never-ending race for a Bitcoin ETF, joined by Snyder and James Seyffart, an ETF analyst with Bloomberg Intelligence. The group discusses the new attention on market surveillance, what Coinbase's involvement means, the odds of any of these applications actually getting approved—and the size of the potential market. See omnystudio.com/listener for privacy information.

They own everything - but what is the real story here?

Flows of capital, goods, services and people have boosted productivity and living standards, tripling the size of the global economy over the past three decades. However, tensions over trade and investment are undermining growth and trust. As the cost of further disintegration severely outweighs the benefits, how can leaders reshape the current system to develop a new agenda for trade, growth and investment? This session is directly linked to the ongoing work of the Trade and Investment Platform of the World Economic Forum. This is the full audio of the session at the World Economic Forum's Annual Meeting 2023. Speakers Robert Habeck, Vice-Chancellor and Federal Minister for Economic Affairs and Climate Action, Germany Alexander De Croo, Prime Minister, Belgium Dr. Ngozi Okonjo-Iweala, Director-General, World Trade Organization Laurence D. Fink, Chairman and Chief Executive Officer, BlackRock Inc. Børge Brende, President, World Economic Forum (host) Subscribe Subscribe on any platform: https://pod.link/1574956552 Join the World Economic Forum Podcast Club Follow all the action from the World Economic Forum's Annual Meeting 2023 at wef.ch/wef23 and across social media using the hashtag #WEF23.

Flows of capital, goods, services and people have boosted productivity and living standards, tripling the size of the global economy over the past three decades. However, tensions over trade and investment are undermining growth and trust. As the cost of further disintegration severely outweighs the benefits, how can leaders reshape the current system to develop a new agenda for trade, growth and investment? This session is directly linked to the ongoing work of the Trade and Investment Platform of the World Economic Forum. This is the full audio of the session at the World Economic Forum's Annual Meeting 2023. Speakers Robert Habeck, Vice-Chancellor and Federal Minister for Economic Affairs and Climate Action, Germany Alexander De Croo, Prime Minister, Belgium Dr. Ngozi Okonjo-Iweala, Director-General, World Trade Organization Laurence D. Fink, Chairman and Chief Executive Officer, BlackRock Inc. Børge Brende, President, World Economic Forum (host) Subscribe Subscribe on any platform: https://pod.link/1574956552 Join the World Economic Forum Podcast Club Follow all the action from the World Economic Forum's Annual Meeting 2023 at wef.ch/wef23 and across social media using the hashtag #WEF23. Hosted on Acast. See acast.com/privacy for more information.

Flows of capital, goods, services and people have boosted productivity and living standards, tripling the size of the global economy over the past three decades. However, tensions over trade and investment are undermining growth and trust.As the cost of further disintegration severely outweighs the benefits, how can leaders reshape the current system to develop a new agenda for trade, growth and investment?This session is directly linked to the ongoing work of the Trade and Investment Platform of the World Economic Forum.This is the full audio of the session at the World Economic Forum's Annual Meeting 2023.SpeakersRobert Habeck, Vice-Chancellor and Federal Minister for Economic Affairs and Climate Action, GermanyAlexander De Croo, Prime Minister, BelgiumDr. Ngozi Okonjo-Iweala, Director-General, World Trade OrganizationLaurence D. Fink, Chairman and Chief Executive Officer, BlackRock Inc.Børge Brende, President, World Economic Forum (host)SubscribeSubscribe on any platform: https://pod.link/1574956552Join the World Economic Forum Podcast ClubFollow all the action from the World Economic Forum's Annual Meeting 2023 at wef.ch/wef23 and across social media using the hashtag #WEF23. Hosted on Acast. See acast.com/privacy for more information.

Представляем вашему вниманию новый выпуск подкаста 2 трейдера, в котором Исаков Роман и Фуад Расулов обсудили такие темы:

Welcome to The Hydrogen Podcast!In episode 181, The Wall Street Journal discusses Plug Power and the future of the hydrogen economy. I'll go over the article and give you my thoughts on today's hydrogen podcast.Thank you for listening and I hope you enjoy the podcast. Please feel free to email me at info@thehydrogenpodcast.com with any questions. Also, if you wouldn't mind subscribing to my podcast using your preferred platform... I would greatly appreciate it. Respectfully,Paul RoddenVISIT THE HYDROGEN PODCAST WEBSITEhttps://thehydrogenpodcast.comCHECK OUT OUR BLOGhttps://thehydrogenpodcast.com/blog/WANT TO SPONSOR THE PODCAST? Send us an email to: info@thehydrogenpodcast.comNEW TO HYDROGEN AND NEED A QUICK INTRODUCTION?Start Here: The 6 Main Colors of Hydrogen

Markets. Down 17% was down 25%. Meta job cuts. 11000 13%. Brad Gerstner letter. A summary of some of the layoffs this year…Twitter: cutting 50% of its workforce (estimated 3,700 jobs).Facebook ($META): cutting 13% of its staff (11,000 jobs), its largest round of CryptoSBF is a FRAUD! Bernie Madoff style! FTX lends money to Alameda!! $10b loan on $16b in assets.   FTX meltdown. FTX. Alameda. Binance. Coinbase. Nothing safe. FTX has a prominent list of backers such as Sequoia Capital, BlackRock Inc., Tiger Global Management and SoftBank Group Corp.Sam Bankman-Fried. $8b shortfall! He was worth $26b…apparently.  Tom & Gisele. Hedgefunds. FTX Arena in Miami. Home of Heat. FTX on umpire uniforms. Celeb lawsuits: https://deadline.com/2022/11/tom-brady-giselle-bundchen-ftx-lawsuit-larry-david-steph-curry-crypto-1235174541/In the case of Curry, the NBA legend admitted in another tongue-in-cheek-ish TV spot that he was not that knowledgeable about crypto. He added, looking at the camera: “I don't need to be. With FTX I have everything I need to buy, sell, and trade crypto safely.”FTX's new chief executive“Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here,”  “From compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented.”SBF is 2nd largest democratic donor this election cycle. $37 million. SBF parents. raised by two Stanford professors who specialize in law and taxes.Caroline Ellison.    Caroline interview. Related party loans: $300m from last $450m investment to SBF.  Alameda Research had $4.1 billion in related-party loans. Among those were $1 billion to Bankman-Fried, $543 million to FTX Director of Engineering Nishad Singh and $55 million to FTX Digital Markets head Ryan SalamTwitterLays off ½ of 7500 workers. Had to bring some back.  The whole world shit-posting that the site will go down now. Tesla AI runs with 150 engineers. Ligma and Johnson.

Twitter executives may have lied to the court about fake accounts on the platform, according to screenshots posted online by Elon Musk just days after taking over the company. The finding suggests that Musk could take legal action against the fired Twitter executives and expose the types of manipulation and censorship that were taking place on the platform. Meanwhile, BlackRock Inc. has taken some major financial losses, with bad investments and backlash on its ESG (environmental, social, and corporate governance) agenda. In this live Q&A with Crossroads host Joshua Philip, we'll discuss these stories and others, and answer questions from the audience. ⭕️ Stay up-to-date with Josh with the Crossroads NEWSLETTER

BlackRock, Inc., Q3 2022 Earnings Call, Oct 13, 2022

Представляем вашему вниманию новый выпуск подкаста 2 трейдера, в котором Исаков Роман и Фуад Расулов обсудили такие темы:

The backlash against the ESG movement is on the rise. ‘Anti-woke' investment funds are launching and 19 US States wrote a letter to BlackRock, saying it is putting leftist politics above investor interests and returns.  Jackie and Peter debate if the ESG backlash could change corporate behaviour around climate and the environment.  Especially when you consider that, compared with the pro-ESG movement, the anti groups currently represent much less capital. Next, we invite our guest Radha Curpen, Vice Chair, Vancouver Managing Partner and National Leader, ESG and Strategy and Solutions, Bennett Jones to join us to provide an update on the legal aspects of ESG for corporations.Content referenced in this podcast:To receive Peter's weekly email commentary, sign-up at Energyphile.orgThe Oxford Institute for Energy Studies paper “Global trade of hydrogen: what is the best way to transfer hydrogen over long distances?”Arizona Attorney General Mark Brnovich organized and is leading a coalition of 19 states that sent a letter to BlackRock Inc., calling out its practices of putting leftist politics above investors' interests and returns (August 4, 2022)Anti-Woke' investment fund launches to back companies that only focus on profits, Proactive (May 11, 2022)Anti-ESG Activist Investor Urges Chevron to Increase Oil Production, WSJ (September 6, 2022)Please review our disclaimer at: https://www.arcenergyinstitute.com/disclaimer/

World class psychic Kapproveb timing highs and lows to the hour using Eso-Meta analysis. ABOUT OUR CHANNEL Our channel is about Live Tarot S&P 500 Predictions. We cover topics such as Tarot Market Predictions, Stocks, ESO - Meta Analysis and much more. Don't forget to subscribe! We sell these awesome products, check them out here: https://www.tarotfortraders.com/private-sessions https://www.tarotfortraders.com/eso-meta-forecasts https://www.tarotfortraders.com/shop FIND US AT https://www.tarotfortraders.com/ FOLLOW US ON SOCIAL Get updates or reach out to Get updates on our Social Media Profiles! Twitter: https://twitter.com/tarotfortradersFacebook: https://www.facebook.com/TarotforTraders/Instagram: https://www.instagram.com/tarotfortraders/TikTok: https://www.tiktok.com/@tarot4tradersBlog: https://www.tarotfortraders.com/forecasts Disclaimer: This content and all content by TarotForTraders.com is for informational purposes only, you should not misconstrue any such information or other material as legal, tax, investment, financial, or other advice.

Today, The Two Mikes spoke with West Virginia State Treasurer Riley Moore who reported that the West VA legislature has passed a law that creates a "denied financial list" on which any financial institution that discriminates -- using ESG (Environmental, Social, and Corporate Governance Score) -- in its lending decisions against the fossil-fuel industry will be placed. Once placed on that list, financial companies will be unable to bid for West VA government contracts. Mr. Moore noted that an increasing number of states are working toward the same arrangement for protecting their fossil-fuel industries. He also made clear that W VA did not start its list with small-fish targets, saying that the first six financial institutions that will be put on the list are: BlackRock Inc., Wells Fargo&Co., JP MorganChase &Co, Morgan Stanley, The Goldman Sachs Group Inc., and U.S. Bancorp. Mr. Moore said that many companies are eager to use the ESG scoring method because asset managers can make twice as much profit when the score is applied against loan applicants. It is interesting to note that just after our conversation, the governments of Germany and Greece announced they were reopening coal-fired plants to replace the energy shortages they have suffered because of U.S.-EU sanctions on Russia. Col. Mike said "It's time for anyone with the credit cards from those banks to cut them up. It's suicide to continue to use them!" He also said it's time to enjoy the Mountain Stage: Get to Know Mountain Stage - Mountain Stage: https://mountainstage.org --Media coverage of Mr. Moore's and West Virginia's success: https://www.mooreforwv.com NY Times Article: https://www.nytimes.com/2022/05/27/climate/republicans-blackrock-climate.html WSJ Op-Ed (with Vivek): https://www.wsj.com/articles/the-market-can-curtail-woke-fund-managers-index-act-votes-shareholders-11654786033 Politico Article about letters: https://www.politico.com/news/2022/06/14/banks-letter-west-virginia-boycott-fossil-fuels-00039246 Please go on the www.Twomikes.com Contact page to send your 3rd anniversary shout out Sponsors Our Gold Guy: https://www.ourgoldguy.com EMP Shield: https://www.empshield.com/?coupon=twomikes www.TwoMikes.com

BlackRock, Inc., Q2 2022 Earnings Call, Jul 15, 2022

Today, The Two Mikes spoke with West Virginia State Treasurer Riley Moore who reported that the West VA legislature has passed a law that creates a "denied financial list" on which any financial institution that discriminates -- using ESG (Environmental, Social, and Corporate Governance Score) -- in its lending decisions against the fossil-fuel industry will be placed. Once placed on that list, financial companies will be unable to bid for West VA government contracts. Mr. Moore noted that an increasing number of states are working toward the same arrangement for protecting their fossil-fuel industries. He also made clear that W VA did not start its list with small-fish targets, saying that the first six financial institutions that will be put on the list are: BlackRock Inc., Wells Fargo&Co., JP MorganChase &Co, Morgan Stanley, The Goldman Sachs Group Inc., and U.S. Bancorp.Mr. Moore said that many companies are eager to use the ESG scoring method because asset managers can make twice as much profit when the score is applied against loan applicants.It is interesting to note that just after our conversation, the governments of Germany and Greece announced they were reopening coal-fired plants to replace the energy shortages they have suffered because of U.S.-EU sanctions on Russia.Col. Mike said "It's time for anyone with the credit cards from those banks to cut them up. It's suicide to continue to use them!"He also said it's time to enjoy the Mountain Stage: Get to Know Mountain Stage - Mountain Stage: https://mountainstage.org--Media coverage of Mr. Moore's and West Virginia's success:https://www.mooreforwv.comNY Times Article: https://www.nytimes.com/2022/05/27/climate/republicans-blackrock-climate.htmlWSJ Op-Ed (with Vivek): https://www.wsj.com/articles/the-market-can-curtail-woke-fund-managers-index-act-votes-shareholders-11654786033Politico Article about letters: https://www.politico.com/news/2022/06/14/banks-letter-west-virginia-boycott-fossil-fuels-00039246Please go on the www.Twomikes.com Contact page to send your 3rd anniversary shout out“Listening to Two Mikes will make you smarter!”- Gov Robert L. Ehrlich, JrSponsors

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Som Seif is the Founder and Chief Executive Officer of Purpose, which he formed following the sale of Claymore Investments to BlackRock Inc. in March 2012 and the Co-Founder of WealthSimple Technologies Inc. Prior to Claymore Investments, Som was an investment banker with RBC Capital Markets. He has a strong commitment to community and is currently a member of the AGO Foundation Board, Next Canada Board, Co-chair of the UofT Defy Gravity Campaign and a member of their Industrial Engineering Advisory Committee.

Davos might have missed some big names and even bigger countries this time, but India went with the aim of making a mark.   “Attendance from China, Japan and Korea was sparse this year and of course we heard nothing from Russia or much from Ukraine attendees” – This is what Gautam Adani, Chairman of Adani Group, wrote about his experience at Davos 2022. Even as the world's rich and powerful descended on Davos, the sentiment at World Economic Forum's annual meeting wasn't the same as before. Consider the conspicuous absence of many titans of finance.   According to Bloomberg, the chiefs of JPMorgan Chase and Goldman Sachs were not in attendance. Neither was BlackRock Inc's Larry Fink or Blackstone's Steve Schwarzman.  Meanwhile, nearly 100 participants and dozens of political leaders from India attended the World Economic Forum, and presented the country's position on the energy situation, food security and health equity at Davos. And, India's enthusiasm was well-founded. Here's what Business Standard reported from Davos.   India found itself at the centre of many dialogues on emerging issues, ranging from climate change to crypto technologies. European business leaders were eagerly scouting options for diversifying trade and investments. India appeared to be the best option for most of them, thanks to its political stability and reformist policies.   Many global investors endorsed India's rising economic relevance. For example, Saint Gobain Global CEO Benoit Bazin said that the company plans to invest over Rs 5,500 crore in the next four years in India. Bazin was bullish about the 45-billion-Euro company's growth story in India.    David Rubenstein, co-founder of the private equity Carlyle Group, told reporters in Davos that “India has been more attractive [to buy assets] of late than China.” Clearly, India benefitted from the absence of China and concerns over its heavy-handed ‘zero Covid' strategy.     Speaking from Davos, Pranjal Sharma of Business Standard says India is presenting itself as a stable, dynamic and growing emerging market at Davos. This is in contrast to the troubles in Europe and the US due to the ongoing Ukraine war. The idea is to attract investors worried by the uncertainty in markets and rising inflation, he says. State govts and the Centre aligned in their goals of presenting Brand India aggressively at Davos, Sharma says.  Ministers from several state governments, including those of Tamil Nadu, Maharashtra, Telangana, Andhra Pradesh and Madhya Pradesh, were also in Davos to attract global investors. Andhra Pradesh reportedly signed renewables investment pacts cumulatively worth about 1600-crore rupees with three companies. The investment commitments were made with India's Adani Green Energy, GIC-backed Greenko and India's Aurobindo Realty & Infrastructure.  The Maharashtra delegation reportedly signed at least 23 MoUs worth 30,000 crore rupees. Of these investments, more than 55 per cent are by way of FDI from the US, Singapore, Indonesia and Japan. The team led by Karnataka Chief Minister Basavaraj Bommai inked MoUs with two major companies for a total investment flow of 52,000 crore rupees. India also took its vibrant start-up story, already featuring daily in the domestic news, to the world stage. Consider the fact that along with several legacy leaders the Indian delegation also included unicorn founders such as Zerodha's Nikhil Kamath, EaseMyTrip's Prashant Pitti, Ashish Singhal of Coinswitch, and Vidit Atrey of Meesho. With the government proudly referring to the rise of unicorns in India, the founders were pleasantly surprised by the attention they were getting from delegates from India and abroad.    Pranjal Sharma of Business Standard speaks to Prashant Pitti, Co-founder of Easemytrip.   India also adopted a strategy at Davos that was significantly different from previous years – the Indian delegation was focused on improving

MICHAEL YON, Former Green Beret, Combar Correspondent, MichaelYon-online.com, @Michael_Yon Michael Yon talks about the high influx of migrants throughout Latin America under the Biden presidency: “Right after inauguration I flew straight to El Paso and immediately watched the flood come in…there's always been a trickle but as soon as the Presidents changed, there was a run for the border” Yon talks about Mexican Cartels' operations within the United States: “They're [The Cartels] not consigned just to Mexico. They're buying farms in Oregon…Why would they bring it [Marijuana] in tunnels when they could just grow it in Oregon” DR. SAYO AJIBOYE, President, Mission Africa International Dr. Sayo Ajiboye, a “foreign-born American patriot,” talks about why he decided to immigrate to the U.S. Ajiboye: Is the Nigerian government whitewashing the jihad taking place in its own borders? EDWARD DOWD, Former Investment Advisor, Blackrock Inc., @DowdEdward Edward Dowd, a former investment advisor for Blackrock, Inc., talks about his case against Pfizer, the mainstream media and other vaccine developers

In his 2022 letter to CEOs, BlackRock chief executive Larry Fink wrote: “Divesting from entire sectors – or simply passing carbon-intensive assets from public markets to private markets – will not get the world to net zero. And BlackRock does not pursue divestment from oil and gas companies as a policy.”  In this episode of the ESG Insider podcast, we're talking to the world's largest asset manager about its approach to engaging with companies, including those in carbon-intensive sectors. We interview Victoria Gaytan, Vice President at BlackRock Investment Stewardship, the team responsible for engaging with companies and for proxy voting on clients' behalf.   Victoria tells us about BlackRock's engagement priorities for 2022, and what to expect from the upcoming proxy season. She also describes how the firm's expectations of corporate boards are evolving on a range of ESG issues, from diversity to climate change to executive compensation.   “We look to boards to have a clear understanding of how executive leadership instills the company's strategy and purpose into day-to-day operations, and how it seeks to ensure that corporate culture is experienced as intended across workforce and the company's key stakeholders,” Victoria tells us.  We'd love to hear from you. To give us feedback on this episode or share ideas for future episodes, please contact hosts Lindsey Hall (lindsey.hall@spglobal.com) and Esther Whieldon (esther.whieldon@spglobal.com).  Photo credit: BlackRock Inc.

Natural mineral may help reverse memory loss University of Queensland (Australia), February 7, 2022 Selenium—a mineral found in many foods—could reverse the cognitive impact of stroke and boost learning and memory in aging brains, according to University of Queensland research. Queensland Brain Institute (QBI) lead researcher Dr. Tara Walker said studies on the impact of exercise on the aging brain found levels of a protein key to transporting selenium in the blood were elevated by physical activity. The research team investigated whether dietary selenium supplements could replicate the effects of exercise. (NEXT) Poor sleep can triple risk for heart disease University of South Florida, February 7, 2022 Individual aspects of poor sleep can be detrimental to heart health. But if you combine them, the risk of heart disease can increase by as much as 141 percent. That's the finding of a new study published in the journal Scientific Reports. The University of South Florida-led study reviewed sleep data of 6,820 U.S. adults with an average age of 53 who self-reported their sleep characteristics and heart diseasehistory. Among the participants, 633 also wore a research device (actigraphy) around their wrist that captured sleep activity. (NEXT) Curcumin-pepper combination shows antioxidant benefits for diabetics: RCT Baqiyatallah, Shiraz and Mashhad universities (Iran), February 7, 2022 Curcumin and Piperine may reduce oxidative stress in patients suffering from type 2 diabetes, according to results of a randomized controlled trial. Clinical data published in the PubMed-listed journal Inflammopharmacology shows for the first time that the curcuminoid–piperine combination supplement may impact measures of oxidative stress in type 2 diabetes.Results showed that the curcuminoid-piperine combination resulted in an 21.9% reduction in MDA levels, compared to baseline levels, while no statistically significant changes were observed in the placebo group. In addition, the curcuminoid-piperine combination increased SOD and TAC levels by 11.6% and 21.1%, respectively, compared to baseline. On the other hand, these decreased by 12.6% and 17%, respectively in the placebo group, compared to placebo.  (VIDEOS) Here is Glen Greenwald talking with Howard Kurtz Trudeau's Brother Kyle Kemper takes Firm Stance against the Vaccine Mandate and “The Great Reset” (OTHER NEWS) Colossal Financial Pyramid: BlackRock and The WEF “Great Reset” F. William Engdahl – Global Research, June 20, 2021 A virtually unregulated investment firm today exercises more political and financial influence than the Federal Reserve and most governments on this planet. The firm, BlackRock Inc., the world's largest asset manager, invests a staggering $9 trillion in client funds worldwide, a sum more than double the annual GDP of the Federal Republic of Germany. This colossus sits atop the pyramid of world corporate ownership, including in China most recently. Since 1988 the company has put itself in a position to de facto control the Federal Reserve, most Wall Street mega-banks, including Goldman Sachs, the Davos World Economic Forum Great Reset, the Biden Administration and, if left unchecked, the economic future of our world. BlackRock is the epitome of what Mussolini called Corporatism, where an unelected corporate elite dictates top down to the population. How the world's largest “shadow bank” exercises this enormous power over the world ought to concern us. BlackRock since Larry Fink founded it in 1988 has managed to assemble unique financial software and assets that no other entity has. BlackRock's Aladdin risk-management system, a software tool that can track and analyze trading, monitors more than $18 trillion in assets for 200 financial firms including the Federal Reserve and European central banks. He who “monitors” also knows, we can imagine. BlackRock has been called a financial “Swiss Army Knife — institutional investor, money manager, private equity firm, and global government partner rolled into one.” Yet mainstream media treats the company as just another Wall Street financial firm. There is a seamless interface that ties the UN Agenda 2030 with the Davos World Economic Forum Great Reset and the nascent economic policies of the Biden Administration. That interface is BlackRock. Team Biden and BlackRock By now it should be clear to anyone who bothers to look, that the person who claims to be US President, 78-year old Joe Biden, is not making any decisions. He even has difficulty reading a teleprompter or answering prepared questions from friendly media without confusing Syria and Libya or even whether he is President. He is being micromanaged by a group of handlers to maintain a scripted “image” of a President while policy is made behind the scenes by others. It eerily reminds of the 1979 Peter Sellers film character, Chauncey Gardiner, in Being There. What is less public are the key policy persons running economic policy for Biden Inc. They are simply said, BlackRock. Much as Goldman Sachs ran economic policy under Obama and also Trump, today BlackRock is filling that key role. The deal apparently was sealed in January, 2019 when Joe Biden, then-candidate and long-shot chance to defeat Trump, went to meet with Larry Fink in New York, who reportedly told “working class Joe,” that, “I'm here to help.” Now as President in one of his first appointees, Biden named Brian Deese to be the Director of the National Economic Council, the President's main adviser for economic policy. One of the early Presidential Executive Orders dealt with economics and climate policy. That's not surprising, as Deese came from Fink's BlackRock where he was Global Head of Sustainable Investing. Before joining BlackRock, Deese held senior economic posts under Obama, including replacing John Podesta as Senior Adviser to the President where he worked alongside Valerie Jarrett. Under Obama, Deese played a key role in negotiating the Global Warming Paris Accords. In the key policy post as Deputy Treasury Secretary under Secretary Janet Yellen, we find Nigerian-born Adewale “Wally” Adeyemo. Adeyemo also comes from BlackRock where from 2017 to 2019 he was a senior adviser and Chief of Staff to BlackRock CEO Larry Fink, after leaving the Obama Administration. His personal ties to Obama are strong, as Obama named him the first President of the Obama Foundation in 2019. And a third senior BlackRock person running economic policy in the Administration now is also unusual in several respects. Michael Pyle is the Senior Economic Adviser to Vice President Kamala Harris. He came to Washington from the position as the Global Chief Investment Strategist at BlackRock where he oversaw the strategy for investing some $9 trillion of funds. Before joining BlackRock at the highest level, he had also been in the Obama Administration as a senior adviser to the Undersecretary of the Treasury for International Affairs, and in 2015 became an adviser to the Hillary Clinton presidential bid. The fact that three of the most influential economic appointees of the Biden Administration come from BlackRock, and before that all from the Obama Administration, is noteworthy. There is a definite pattern and suggests that the role of BlackRock in Washington is far larger than we are being told. What is BlackRock? Never before has a financial company with so much influence over world markets been so hidden from public scrutiny. That's no accident. As it is technically not a bank making bank loans or taking deposits, it evades the regulation oversight from the Federal Reserve even though it does what most mega banks like HSBC or JP MorganChase do—buy, sell securities for profit. When there was a Congressional push to include asset managers such as BlackRock and Vanguard Funds under the post-2008 Dodd-Frank law as “systemically important financial institutions” or SIFIs, a huge lobbying push from BlackRock ended the threat. BlackRock is essentially a law onto itself. And indeed it is “systemically important” as no other, with possible exception of Vanguard, which is said to also be a major shareholder in BlackRock. BlackRock founder and CEO Larry Fink is clearly interested in buying influence globally. He made former German CDU MP Friederich Merz head of BlackRock Germany when it looked as if he might succeed Chancellor Merkel, and former British Chancellor of Exchequer George Osborne as “political consultant.” Fink named former Hillary Clinton Chief of Staff Cheryl Mills to the BlackRock board when it seemed certain Hillary would soon be in the White House. He has named former central bankers to his board and gone on to secure lucrative contracts with their former institutions. Stanley Fisher, former head of the Bank of Israel and also later Vice Chairman of the Federal Reserve is now Senior Adviser at BlackRock. Philipp Hildebrand, former Swiss National Bank president, is vice chairman at BlackRock, where he oversees the BlackRock Investment Institute. Jean Boivin, the former deputy governor of the Bank of Canada, is the global head of research at BlackRock's investment institute. BlackRock and the Fed It was this ex-central bank team at BlackRock that developed an “emergency” bailout plan for Fed chairman Powell in March 2019 as financial markets appeared on the brink of another 2008 “Lehman crisis” meltdown. As “thank you,” the Fed chairman Jerome Powell named BlackRock in a no-bid role to manage all of the Fed's corporate bond purchase programs, including bonds where BlackRock itself invests. Conflict of interest? A group of some 30 NGOs wrote to Fed Chairman Powell, “By giving BlackRock full control of this debt buyout program, the Fed… makes BlackRock even more systemically important to the financial system. Yet BlackRock is not subject to the regulatory scrutiny of even smaller systemically important financial institutions.” In a detailed report in 2019, a Washington non-profit research group, Campaign for Accountability, noted that, “BlackRock, the world's largest asset manager, implemented a strategy of lobbying, campaign contributions, and revolving door hires to fight off government regulation and establish itself as one of the most powerful financial companies in the world.” The New York Fed hired BlackRock in March 2019 to manage its commercial mortgage-backed securities program and its $750 billion primary and secondary purchases of corporate bonds and ETFs in no-bid contracts. US financial journalists Pam and Russ Martens in critiquing that murky 2019 Fed bailout of Wall Street remarked, “for the first time in history, the Fed has hired BlackRock to “go direct” and buy up $750 billion in both primary and secondary corporate bonds and bond ETFs (Exchange Traded Funds), a product of which BlackRock is one of the largest purveyors in the world.” They went on, “Adding further outrage, the BlackRock-run program will get $75 billion of the $454 billion in taxpayers' money to eat the losses on its corporate bond purchases, which will include its own ETFs, which the Fed is allowing it to buy…” Fed head Jerome Powell and Larry Fink know each other well, apparently. Even after Powell gave BlackRock the hugely lucrative no-bid “go direct” deal, Powell continued to have the same BlackRock manage an estimated $25 million of Powell's private securities investments. Public records show that in this time Powell held direct confidential phone calls with BlackRock CEO Fink. According to required financial disclosure, BlackRock managed to double the value of Powell's investments from the year before! No conflict of interest, or? A Very BlackRock in Mexico BlackRock's murky history in Mexico shows that conflicts of interest and influence-building with leading government agencies is not restricted to just the USA. PRI Presidential candidate Peña Nieto went to Wall Street during his campaign in November 2011. There he met Larry Fink. What followed the Nieto victory in 2012 was a tight relationship between Fink and Nieto that was riddled with conflict of interest, cronyism and corruption. Most likely to be certain BlackRock was on the winning side in the corrupt new Nieto regime, Fink named 52-year-old Marcos Antonio Slim Domit, billionaire son of Mexico's wealthiest and arguably most corrupt man, Carlos Slim, to BlackRock's Board. Marcos Antonio, along with his brother Carlos Slim Domit, run the father's huge business empire today. Carlos Slim Domit, the eldest son, was Co-Chair of the World Economic Forum Latin America in 2015, and currently serves as chairman of the board of America Movil where BlackRock is a major investor. Small cozy world. The father, Carlos Slim, at the time named by Forbes as World's Richest Person, built an empire based around his sweetheart acquisition of Telemex (later America Movil). Then President, Carlos Salinas de Gortari, in effect gifted the telecom empire to Slim in 1989. Salinas later fled Mexico on charges of stealing more than $10 billion from state coffers. As with much in Mexico since the 1980s drug money apparently played a huge role with the elder Carlos Slim, father of BlackRock director Marcos Slim. In 2015 WikiLeaks released company internal emails from the private intelligence corporation, Stratfor. Stratfor writes in an April 2011 email, the time BlackRock is establishing its Mexico plans, that a US DEA Special Agent, William F. Dionne confirmed Carlos Slim's ties to the Mexican drug cartels. Stratfor asks Dionne, “Billy, is the MX (Mexican) billionaire Carlos Slim linked to the narcos?” Dionne replies, “Regarding your question, the MX telecommunication billionaire is.” In a country where 44% of the population lives in poverty you don't become the world's richest man in just two decades selling Girl Scout cookies. Fink and Mexican PPP With Marcos Slim on his BlackRock board and new president Enrique Peña Nieto, Larry Fink's Mexican partner in Nieto Peña's $590 billion PublicPrivatePartnership (PPP) alliance, BlackRock, was ready to reap the harvest. To fine-tune his new Mexican operations, Fink named former Mexican Undersecretary of Finance Gerardo Rodriguez Regordosa to direct BlackRock Emerging Market Strategy in 2013. Then in 2016 Peña Nieto appointed Isaac Volin, then head of BlackRock Mexico to be No. 2 at PEMEX where he presided over corruption, scandals and the largest loss in PEMEX history, $38 billion. Peña Nieto had opened the huge oil state monopoly, PEMEX, to private investors for the first time since nationalization in the 1930s. The first to benefit was Fink's BlackRock. Within seven months, BlackRock had secured $1 billion in PEMEX energy projects, many as the only bidder. During the tenure of Peña Nieto, one of the most controversial and least popular presidents, BlackRock prospered by the cozy ties. It soon was engaged in highly profitable (and corrupt) infrastructure projects under Peña Nieto including not only oil and gas pipelines and wells but also including toll roads, hospitals, gas pipelines and even prisons. Notably, BlackRock's Mexican “friend” Peña Nieto was also “friends” not only with Carlos Slim but with the head of the notorious Sinaloa Cartel, “El Chapo” Guzman. In court testimony in 2019 in New York Alex Cifuentes, a Colombian drug lord who has described himself as El Chapo's “right-hand man,” testified that just after his election in 2012, Peña Nieto had requested $250 million from the Sinaloa Cartel before settling on $100 million. We can only guess what for. Larry Fink and WEF Great Reset In 2019 Larry Fink joined the Board of the Davos World Economic Forum, the Swiss-based organization that for some 40 years has advanced economic globalization. Fink, who is close to the WEF's technocrat head, Klaus Schwab, of Great Reset notoriety, now stands positioned to use the huge weight of BlackRock to create what is potentially, if it doesn't collapse before, the world's largest Ponzi scam, ESG corporate investing. Fink with $9 trillion to leverage is pushing the greatest shift of capital in history into a scam known as ESG Investing. The UN “sustainable economy” agenda is being realized quietly by the very same global banks which have created the financial crises in 2008. This time they are preparing the Klaus Schwab WEF Great Reset by steering hundreds of billions and soon trillions in investment to their hand-picked “woke” companies, and away from the “not woke” such as oil and gas companies or coal. BlackRock since 2018 has been in the forefront to create a new investment infrastructure that picks “winners” or “losers” for investment according to how serious that company is about ESG—Environment, Social values and Governance. For example a company gets positive ratings for the seriousness of its hiring gender diverse management and employees, or takes measures to eliminate their carbon “footprint” by making their energy sources green or sustainable to use the UN term. How corporations contribute to a global sustainable governance is the most vague of the ESG, and could include anything from corporate donations to Black Lives Matter to supporting UN agencies such as WHO. Oil companies like ExxonMobil or coal companies no matter how clear are doomed as Fink and friends now promote their financial Great Reset or Green New Deal. This is why he cut a deal with the Biden presidency in 2019. Follow the money. And we can expect that the New York Times will cheer BlackRock on as it destroys the world financial structures. Since 2017 BlackRock has been the paper's largest shareholder. Carlos Slim was second largest. Even Carl Icahn, a ruthless Wall Street asset stripper, once called BlackRock, “an extremely dangerous company… I used to say, you know, the mafia has a better code of ethics than you guys.” (NEXT) Can Joe Rogan Save Free Speech? Jonathan Turley, February 3, 2022 Below is my column on the campaign to cancel Joe Rogan and his podcast. Various celebrities and artists have joined the movement for censoring Joe Rogan, including Mary Trump. The White House has called for even greater action from Spotify to limit or remove content. We have also heard the same false narrative that, since the First Amendment only covers government action, this is not by definition a free speech issue. The argument is entirely divorced from any understanding of free speech. As we have previously discussed, the First Amendment is not the full or exclusive embodiment of free speech. It addresses just one of the dangers to free speech posed by government regulation. Many of us view free speech as a human right. Corporate censorship of social media clearly impacts free speech, and replacing Big Brother with a cadre of Little Brothers actually allows for far greater control of free expression. When it comes to media, information or social media platforms, corporate censorship can have a devastating impact on free speech. For Spotify, the choice between Rogan's 11 million listeners or an aging rocker was economically clear, even with other artists threatening to pull their music from the platform. The music side of Spotify is reportedly not making much revenue, but Rogan and podcasts are a cash machine. Spotify now has 365 million subscribers and its advertising revenues have doubled with the help of the podcast market. Revenue from podcasts is up a staggering 627 percent on Spotify. However, even if the company was not motivated by its better angels, that may actually be better news for free speech. The free-fall of free speech has largely been due to greed. Companies see no profit in defending dissenting viewpoints. Now, for the first time, the economics may have actually worked against censorship and for free speech. At least in this instance, to paraphrase “Wall Street's” Gordon Gekko, “Greed is good” for free speech. The famous economist Arthur Cecil Pigou once explained that corporations are not “social” but market creatures moved by profits, not principles. No matter how “woke” many companies may appear, there is an economic calculation behind corporate action. Most companies yield to demands because it is wealth-maximizing. There was a calculation that woke statements or censorship policies would protect a company from protests while opposing customers would still want its product. That calculation has been a disaster for free speech. The First Amendment only addresses the primary threat that existed in the 18th century against free speech: the government. It does not limit private companies, which have free speech rights like individuals. Activists and politicians used that blind spot to do indirectly what they could not do directly in censoring opposing viewpoints. Democratic leaders, including President Biden, have encouraged companies to expand what they euphemistically call “content modification” to block dissenting views on vaccines, election integrity, global warming, gender identity and a range of other issues. As a result, social media companies and other corporations now regulate speech in the United States to a degree that an actual state media would struggle to replicate. Faced with a growing cancel culture, companies are scrubbing their platforms of dissenting viewpoints and converting forums into echo chambers. Rogan's popularity is precisely due to the fact that he is uncensored in what he says. As many networks and newspapers have become more of an echo chamber, viewers and readers have fled en masse. Trust in the media has fallen to just 46 percent and as low as 40 percent in recent polling. While Young reportedly relies on Spotify for 60 percent of his royalty income, Spotify does not rely on Young or other rock stars for its primary profits. It is the reverse of market conditions from just a couple years ago. While Rogan has promised to be more careful in how information is presented on his show (and Spotify will add “advisories” on podcasts), his podcast survived the celebrity onslaught. As various investors seek to create free speech alternatives to Twitter and YouTube, there may be an emerging market for free speech products. This does not mean that Joe Rogan is the new Thomas Paine or that this small skirmish is a turning point in the war over free speech. Indeed, the campaign continues against Spotify. However, with the explosion of corporate censorship, free speech advocates have begun to look at figures like Rogan as “super survivors,” people who seem to have natural immunities protecting them from an otherwise lethal threat. If we can replicate those economic antibodies, we just might be able to develop a protection against censorship and the cancel culture.

An all-new special episode of The Rundown, guest hosted by Jack Peterson! Today--Grace Symes talks to long-COVID patients about their struggle for recognition and benefits. Dan Goeser covers the Kyle Rittenhouse verdict and visits a subsequent protest in Brooklyn. Then, Dan profiles a recent NYU graduate, Illapa Sairitupac, who is running for State Senate in District 26 as a Democratic Socialist. Adelaide Miller covers the recent Student Government Assembly with NYU leadership members. Ruby Naylor takes a look at Newark, NJ's recent policy to stop releasing public mugshots. Lyssia Gingins, Selina Xue, and Sachin Sundar attend a protest by Alabama mine workers outside climate change contributing (and NYU board beneficiary) BlackRock Inc. HQ. All this and more on a Thanksgiving-week Rundown!

It feels like we're sliding into the end of the year on two wheels, so if you're uncertain where the economy is hopefully the content below will provide you with clarity. The third quarter saw records in the markets, but we've had pervasive growth concerns. Some pundits predicted double digit growth, but GDP in the third quarter was 6.4%. Not bad, but it wasn't what most analysts were expecting. So, where are we now that we are about halfway through the fourth quarter?Democrats in Congress finally got a $1.75 trillion infrastructure spending bill passed to give President Biden a policy win, but our high levels of spending have already created inflationary pressure on the economy. What will additional spending do? When the COVID shutdowns happened last year, President Trump, with the Federal Reserve immediately turned on easy money measures, and it appears the spigot was turned on a little too strong. What does that mean?In order to keep the economy from descending into a deep recession last year, the government began creating $120 billion per month and buying its bonds and buying equities. Also, the Federal Reserve lowered interest rates, which led to greater price increases in things like homes. This liquidity from the $120 billion per month expenditure drove the market back up last year, and is partly responsible for the markets continually hitting all-time highs this year.This led to the inflationary pressure, which has caused the Federal Reserve to vacillate on when to begin reducing the $120 billion monthly purchases and when to raise interest rates. Remember, it took four years for the tapering process to end after the Great Recession that dipped to its slowest point in 2009.From Yahoo Finance, “BlackRock Inc.'s Rick Rieder and Allianz SE's Mohamed El-Erian are among those warning that systemic risks will only multiply, unless monetary officials take more decisive measures to pare extraordinary pandemic stimulus. While policy makers are acutely aware of the dangers in the easy-money era, their accommodative stances are encouraging ever-increasing flows to the riskiest markets.” Last week the Fed announced the tapering would start this month, and they would reduce the monthly purchases by $15 billion per month. Now we'll wait to see if this causes volatility in the market.Another challenge we face is a complete Biden reversal from last year when he said nobody would be forced to get a vaccination to it now being mandated...Investment advisory services offered only by duly registered individuals through AE Wealth Management, LLC (AEWM). AEWM and Clients Excel, LLC are not affiliated companies. Investing involves risk, including potential loss of principal. Any references to protection, safety, or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the insuring carrier. This podcast is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet particular needs of an individual's situation. Clients Excel is not permitted to offer and no statement made during this show shall constitute tax or legal advice. Our firm is not affiliated with or endorsed by the U.S. Government or any governmental agency. The information and opinions contained herein provided by third parties have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed by Clients Excel. The use of logos and/or trademarks of podcast hosting sites are the property of their respective owners and are not an endorsement by those owners of our firm or our program. 

Welcome to Finance and Fury. In this episode we will be looking at the Property market in China and focus on the Evergrande developments – in particular if there is actually a timebomb starting to surface – and look at the potential contagion risks to the rest of the world – such as the Aus and US Many in the press are comparing what is happening to Evergrande as another Lehman's moment – which was one of the defining collapses of a financial institution that lead to the flow of effects culminating in the GFC – it is understandable that the media takes this route – Lehman's is a recognisable name and fear and doom scenarios generates more clicks and sells more adds – but is this worst-case scenario true? Is the collapse of Evergrande really going to lead to another global financial crisis? A few weeks ago – we covered where the next financial collapse is likely to come from – between the USA and China - Two factors were the focus – leverage and contagion risks Looking at leverage - Credit growth is a major risk to almost every market – both from bonds from investors and lending from bank of financial institution borrowing – both of these are relevant to the private sector in China Credit growth is even a concern in Australia – APRA worried about banks and lending – they have increased their servicing cost by 0.5% - worried about credit growth vastly outpacing income growth But the major focus for any systemic issue is the contagion risks – if one company defaults, does this create a GFC, or just a collapse of an isolated entity – The loss potentials are substantially different between both scenarios – one is investors in a company losing money versus every investor globally losing funds due to collapsing markets world wide – the degree they collapse also is different If Evergrande fails – what does this matter? At this stage - The irony of the contagion risks is from the increased news coverage that this topic is being granted – if a topic is covered in the news everywhere – this creates uncertainty and fear – investors can panic – this creates real market declines, so the risk of market declines become a self-fulfilling prophecy – even me covering this topic can create some level of risk aversion, which may cause people to sell off investments – but is there more than just the normal fears in the markets from media coverage occurring? To start with - What is happening in China – We need to look at their property market, or more specifically the debt that property developers hold – especially in relation to Evergrande and Chinese economy at large Chinese economy - the rise and fall of Evergrande is tied into the economy of China quite heavily – Evergrande is China's second largest property developer – but this ranks around 147th in the world – but it is the most indebted property developer in the world – which should start to ring some alarm bells – it's on balance sheet liabilities amount to around 2% of Chinas GDP – off balance sheet – this could be higher – and likely is A company in isolation with debt isn't much of an issue – but a company with too much debt can be a problem – In isolation this isn't too much of an issue – if the company defaults but business in other sectors of the economy continues as normal then markets may go down a bit but then continue as normal – but what if this one company is a sign of greater systemic issues - where most of the companies in your country in this sector have the same problems – that of having too much debt that they are likely to default on? Especially in the property sector – The BIS released a paper showing that Chinese non-financial companies have 160% Debt to GDP, versus in the US where it is about 80% - so double in China compared to the US – Property also has an overweight on GDP compared to the US It is estimated that property development makes up around 25% of China's GDP – this growth has been fuelled by Debt – this is a major issue for the CCP - China property market – the history over the past 20 years The increase in demand for property and the increase in pricing has been fuelled by massive amounts of urbanisation – rural workers/population moving to cities for work and a better income for their families High demand for properties in desirable cites has massively inflated the property values in these urban environment – developers often sell every property in a development in advance of the construction even starting This has led to lower quality – contractors skimming on materials to lower costs – where constructions can actually collapse in a few years after completion Prices to income ratios – results in a situation where you have generations of people living in one apartment trying to repay the loans We think that Australia is bad – and it is – but many major cities in China, such as Shenzhen see 43 times the average household income in property prices – compared to Sydney which was around 13 times at the peak of the market Speculation – large increases in property prices saw massive speculation in developers – if you think that the property that you will construct today can lead to a 50% gain in the next year or two – then you will likely borrow large chunks of money to bank on this trend Lead to many apartments not being rented, and purchasers buying up more than one property – but the limit per family is capped The population is also limited in what they can invest in – so property is where most of the upper middle class and beyond put their life savings Large property developers are politically connected – But this has created moral hazard – every loan given, or bond investments have been made based around how likely it is for the government to bail out these developers Rather than on their ability to meet the debt repayment cashflow Moral hazard is a large component of any investment or economic decision – as an example – say you have an expensive car – now in one situation you have comprehensive insurance and in another you have no cover – in which situation are you likely to drive a little more recklessly, or park this in a car park unattended overnight? Same goes for insurances – especially if you are forced to have insurances – you may as well use it for your premiums – such as health insurances – But what if we are talking about a government backing debt for bail outs – and that is the expectation of the markets – this creates a moral hazard - But China realised they have a debt problem – as well as a moral hazard problem - so policy makers tried to reign this in – focusing on moral hazard first and foremost Policy changes – the CCP put together that their economic growth is mostly paper/debt based – where the growth they are receiving in GDP is funded through borrowing from property expansion – which is not sustainable in real terms They want to transition their economy to more long-term sustainable growth – real estate is the most important sector in their economy at the moment – but this is debt reliant – they prefer real returns – which is why you see a push towards resources and other manufacturing sectors – but a real issue in China is the affordability of property ­ Look at government policy across the world – they always say that they promise to tackle issues of property affordability – but then comes a situation where prices are starting to decline – what do governments do? Create policies to help prop prices up to avoid a decline which could have further reaching issues – governments don't want bubbles, but they don't want a collapse China appears to be the first government in a long time to not follow this pattern – they are trying to change moral hazard – and expectations in the market -which can easily lead to collapses in the property sector Rather than bail out Evergrande – which would be easy for the CCP – it appears that at this stage they have decided to let this company deal with their own problems This is technically how it should be – but it is rare to see this response I think this is mostly due to their Hard lines polices – trying to reduce the economy reliance on debts – They actually introduced three hard line policies on property developers in Aug 2020 These are hard limits on property developers – relating to their liability to asset ratios, net debt to equity ratios, cash to short term debt ratios – all of these are important when it comes to developers who fund their projects using debt now for equity in the future Had an instant effect on property development firms – no longer could you raise capital through debt funding as most developers were above the allowable ratios What made this is worse, is they had to reduce their debt levels – to do so they were quickly forces to sell down assets and taking losses – this caused prices of property to fall, so the valuation on their assets started to go down This made it worse - These losses make their ratios look worse – making these companies need to deleverage further – this can lead into a downwards spiral On top of this – because the prices of property started to slow as well last year – to make more pre-sales – Evergrande needed to offer some discounts on the pre-sales – this lead to less liquidity available – less liquidity meant they don't have the money to fund debt repayments as they come due Evergrande itself – In the property sector – the company acts like a conglomerate Property development, property management, and Wealth management products – They are looking to sell of property management – recoup $5bn But wealth management products – WMPs may be a concern – this is around $6bn – Small number – but investor fury has made this more of a social issue But these investors were told they would get a guaranteed 12% return on their investment p.a. This money was used to help close funding caps that the parent company had in construction – This is fine, as long as the returns on the property sales in the year are more than 12% to repay investors - But for a time they weren't – this meant that new investor flows had to be used to make repayments to existing investors – in the process there was less to help close the funding gap – But then add onto this the slump in sales – then you start to have a real issue – as more and more new investor flows need to be used to repay existing investors – which is the basis of a ponzi scheme – but moral hazard still existed – investors had the certainty in their own minds that this was a sure bet – as any defaults would be covered by the government The issue is based around the moral hazard – investors thought their returns were guaranteed with little risk - but where it can get bad is contagion risks Fallout effects – will come from two areas – property domestically in China – which will spread out and have their own issues – as well as contagion risks throughout the economy and throughout the world Property prices in China – Can see a decline – if they liquidate and need to sell off the property development – could see a fire sale of assets and property prices decline The fact they are trying to sell quick is bad for property – fire sales see massive price reductions Domestic fallout – People who have placed deposits on properties that may never be built – lose those funds People who have invested in the WMPs – will also lose money – you will start to see some social issues This will reduce the trust in property investment – Evergrande employs lots of people – around 4m – which would be huge for a country like Australia – but out of a population over around 1.4bn is about 0.29% of the population Contagion risks – who owns the debt and are there any derivatives on this? Look at the debt - $300bn of debt – bonds issued – estimated that only around $20bn of this is overseas debts – the rest is domestic – these foreign bonds are priced in at around 25-30c on the dollar – depending on their maturity China is a large economy – it can pretty easily soak up these losses – even though $300bn is a large amount of debt to cover This is owned across 128 banks and 121 non-bank institutions Investment managers – investing in risky emerging market debts - Ashmore group, BlackRock Inc, UBS and HSBC hold $450m, $400m, $300m, and $200m, respectively – which isn't too much for these groups to absorb Best case scenario – Evergrande will be allowed to collapse – the parts will be bought up by other developers in the nation at a fire sale rate – i.e. getting a good discount The People Bank of China will also likely buy out some of the debt - Like JP Morgan Buying Bear Stern back in the GFC – with help and oversight from the FED – but this doesn't solve all the problems But the issue comes back to the moral hazard – the CCP wants to minimise speculative risks Evergrande by itself defaulting isn't a risk for markets – but it does spell some risks – of over leverage throughout the system – if many other developers start to see the same systemic issues of overleverage and issues in meeting their debt obligations, then you get into further trouble Fantasia – another property developer failed to make a bond payment - missed $315 million in payments to lenders – created further fears that financial strains in the country's outsized property sector are spreading beyond the troubled Evergrande conglomerate. S&P and Moody's slapped "default" credit ratings on Fantasia Lessons to be learnt – The moral hazard and the belief in a sure thing – the belief before the GFC is that debt on peoples homes was a sure thing – not many people would default all at once, so package up 1000s of mortgage holders debt and make bets on this But due to this belief, lax lending standards were employed – this then turned out that due to the belief that things couldn't go bad, resulted in them going bad due to too much risk How this is different from the GFC – Derivative used in making bets on the property market Credit swaps, derivatives on CDO – this doesn't seem to be occurring in China – and the banks' ability to eat losses on the debt isn't too great to not be able to recover Lehman's collapse was considered to be the plug of the dam being pulled in the GFC – property prices dropped, people defaulted on debt then Lehman went into default – but only due to their exposure to complex CDOs and derivative positions – If these don't exist on Evergrande – which it appears at this stage they don't – then there is less contagion risk – But who knows – there is no way to tell until it is too late – however, there hasn't been much in the way of transaction in credit default swaps in banks like HSBC which have greater exposure to the Chinese debt markets It took Lehman over a year to default and go bankrupt – so time will tell how this pays out Where things could get worse – is if more developers start to default – showing greater systemic risks My gut feel is that the China growth from property is coming to an end – This will likely have larger effects on the commodity markets – such as iron ore – than it will on the global share market in the short term – but if their property market starts to decline due to defaults on developers and a lack of trust – this leaves their economy very susceptible Your guess is as good as mine as how this will turn out – we will keep an eye on this Thank you for listening to today's episode. 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BILL WALTON, Chairman, Resolute Protector Foundation, Host, The Bill Walton Show, Senior Fellow, Discovery Institute's Center on Wealth, Poverty and Morality, @billwaltonshow Bill Walton: President Biden's recent vaccine mandate calls into question the existence and expansion of the “administrative state” The United State Supreme Court's Chevron Decision: “Administrative entities have the power to make decisions delegated to them by Congress” In passing laws over the past 30-40 years, Walton argues that Congress has not been specific enough when outlining the authority of the state - Only giving the politicians “plausible deniability” Walton: It's hard to know where the Biden Administration starts and BlackRock Inc., begins - Three of the administration's top economic advisor are BlackRock alumni BEN WEINGARTEN, Founder and CEO, ChangeUp Media LLC, Senior Contributor, The Federalist, Senior Fellow, the London Center for Policy Research, Author, "American Ingrate" @bhweingarten Ben Weingarten addresses Sec. Antony Blinken's testimony before Congress: It's been the same line from the administration: Defending withdrawing instead of the nature of the withdrawal Weingarten: It is "intellectually dishonest" for the Biden administration to point the finger at everyone else but themselves Weingarten: Why is it in America's national interest to import, in a time like this, thousands of people from a country where 90% of the population supports Sharia law While the Capitol Riot was treated as a domestic terrorism issue, the George Floyd riots were not NATALIE WINTERS, Investigative Reporter, The National Pulse, Contributor, The National Pulse Podcast, @nataliegwinters Natalie Winters: People do not understand just how the entire scientific ecosystem is controlled by the Chinese Communist Party The National Institute of Health grant money not only went to EcoHealth but also the Wuhan Institute of Virology Winters: China's Southern Medical University, which is linked to the People's Liberation Army, assisted the Wuhan Institute in conducting their gain of function research by providing human blood samples 170 plus professors lobby the Biden administration's Department of Justice to discontinue the China Initiative, started under the Trump administration

一週財經聚焦 一、9月2日，新加坡將允許所謂「SPAC」(空白支票公司)掛牌上市，在亞洲主要金融重鎮中創下首例，也再一次敲響了這本追逐戰的戰鼓。怎麼看待SPAC發展狀況？ 國際媒體相關報導 ●Financial Times倫敦金融時報：〈Singapore exchange to allow Spac listings〉(新加坡交易所允許Spac上市) ●CNBC：〈The fall of the SPAC market has digital media companies in disagreement about best path forward〉(SPAC市場的下滑，讓數位媒體公司在最佳前進道路上存在分歧) ●New York Times紐約時報：〈A SPAC Counterattack〉(一個SPAC的反擊) 分析解讀 不管Delta怎麼肆虐，不管各國經濟何去何從，不管會不會有通貨膨脹…..過多的資金仍然在追逐過少的未來項目。雖然美國SPAC看似放慢了速度，但亞洲資本市場的熱度仍然方興未艾。 大家都知道SPAC其實行之有年，這兩年突然異軍突起其實其來有自，就是資金太過浮濫。從你必須戰戰兢兢把企業做好才有資格遞交上市，到如今先給你一張空白支票再開始思考怎麼幹企業，後續的各種匪夷所思還將層出不窮！ 這就是為什麼Delta仍在肆虐，新加坡交易所（SGX）卻還是頂著逆風，公佈了SPAC新規定。但是，與此同時，美國主管當局卻正加強監管這類投資工具。 其實星交所在3月啟動公眾諮詢過程，歷經數月徵詢投資公司、銀行、律師等方面的意見後，如今訂出一套管理架構，對原先的規章草案做出一些修正。星交所法規監管部門執行長陳文生（Tan Boon Gin）說：「我們希望這種SPAC程式能吸引優質目標公司來SGX掛牌，提供投資人更多選擇與機會。」也就是，他希望全球資本能前進新加坡，使其成為金融中心。 眾所周知，SPAC是一種沒有營運業務的空殼公司（shell company），成立後，先透過首次公開發行股票（IPO）募集資金，然後物色有前景的未上市公司並加以收購，形同讓被併購的公司借殼上市。 支持者宣稱這比IPO更有效率，前些時候在華爾街蔚為風潮，但自從今年4月美國證管會（SEC）對SPAC採取更批判的態度後，已冷卻這股SPAC熱潮。 如今，新加坡成為亞洲第一個允許空白支票公司上市的重要金融中心。儘管韓國和馬來西亞也都允許SPAC上市，但根據Dealogic數據，這兩個國家已多年沒有一樁SPAC交易。 修改過後，新交所的SPAC市值門檻與美國標準更加一致。新交所表示，一方面要吸引高質量發起人，一方面要確保未來與SPAC合併的企業維持一定規模，對上市SPAC的最低市值要求，在這兩者之間取得平衡。 具體來看，新交所的SPAC框架主要涵蓋以下特點： 1.SPAC上市時市值不可低於1.5億新元。 2.SPAC必須在上市後的24個月內完成併購交易。如符合相關規定條件，期限可延長最多12個月。 3.在SPAC上市到併購交易後六個月內，發起人股份處於鎖股期。 4.根據SPAC的市值規模，發起人必須在SPAC上市時認購不低於2.5%至3.5%的股份（股票、單位或認股權證）。 5.只有獲得過半數獨立董事的批准和過半數股東的投票支持，才能進行併購交易。 6.股東所持有的認股權證可以與普通股分離，認股權證行權導致的股東稀釋影響不得超過50%。所有獨立股東均享有贖回權。 值得注意的是，新交所放行SPAC的大背景，是去年至今年一季度華爾街曾掀起一股SPAC熱潮；但隨後美國證券交易委員會(SEC)更具批評性的態度，已導致SPAC上市速度放慢。 4月12日，SEC表示正在制定一項新的指導方針，此前向早期交易投資者（如空白支票公司）發放的認股權證將不再被視為權益工具，同時從會計角度而言，認股權證可能從此前股本轉為負債。這種潛在的會計規則變更可能會對SPAC市場造成巨大打擊，SPAC審查要求低、速度快的優勢可能會蕩然無存。 一系列監管重拳，果然讓美國SPAC熱潮退卻。Dow Jones Market Data對SPAC Research數據所做的分析顯示，在2月中旬以前完成合併的137家SPAC的總市值已經蒸發25%，一場廣泛的拋售已經把藉助SPAC上市的公司市值抹去了約750億美元，上個月市值回落幅度更是一度超過1000億美元。這項分析不包括到2月中旬尚未完成合併的公司，也不包括已經退市的公司。在已經宣佈合併但尚未完成交易的SPAC中，約75%的股價低於上市價格。 但不可否認，在美國以外，不少地區仍對SPAC展現了不小熱情。7月27日英國宣佈放寬SPAC上市規則，以藉此吸引更多SPAC上市。 英國金融市場行為監管局(Financial Conduct Authority)表示，將不再要求SPAC在披露交易計劃時暫停上市，這一規定被視為推動SPAC在英國上市的信號，同時SPAC在首次上市時需要籌集的最低金額，也從2億英鎊降低到1億英鎊。 同期，一隻追蹤近期通過首次公開募股(IPO)上市的公司的交易所交易基金(ETF)下跌12%，道瓊斯指數則上漲13%。 像貝萊德(BlackRock Inc., BLK)和富達投資(Fidelity Investments Inc.)這類企業管理的基金，以及許多對沖基金、養老金管理公司和其他一些投資者，都在SPAC的回落中遭受了衝擊，他們在去年年底開始的熱潮中競相投資SPAC，而美國的SPAC表現欠佳。 一些投資者說，今年夏天SPAC被打回原形是一個不可避免的結果，許多與SPAC合併的公司收入很少，卻有數十億美元甚至更高的估值。有多起電動汽車初創公司就如此，他們在SPAC交易中誤導投資者的事件引起高度關注，而這些公司的財務業績卻乏善可陳，也難怪最近幾個月，監管機構加強了對這一行業的審查。 電影《大賣空 (The Big Short)》原型、著名大空頭 Michael Burry在8月15日於推特上表示，美股現在正處在「歷史上最大的泡沫當中」。 Burry在推特上也說到：「人們總是會問我現在市場上發生了什麼，這很簡單，股市正處在有史以來最大的投機泡沫當中，規模達到兩個數量級。」他還標注了標籤「FlyingPigs360」。 「FlyingPigs360」這個推特標籤，是引用了投資領域中的一句名言「牛市賺錢，熊市賺錢，但豬會被宰殺」，以此警告投資者不要太過貪婪，不要當被宰殺的豬。Burry指出，投資者目前太過貪婪，瘋狂投機，承擔太多風險，並追逐不切實際的回報。 Burry 在 4 月初時就曾對特斯拉、 GameStop、比特幣、狗狗幣、Robinhood、特殊目的收購公司 (SPAC)、通貨膨脹和整體股市發出警告，他將比特幣、電動車和迷因股 (meme) 的炒作與網路泡沫和房地產泡沫相比，並在今年初時警告表示，美股正在「刀刃上跳舞」。 有「商品大王」之稱的著名投資人羅傑斯 (Jim Rogers) 在先前也警告表示，圍繞熱門股票的炒作、散戶投資熱潮，以及 SPAC 借殼上市公司數量大增，都表明了美股泡沫正愈來愈大。如果買入了泡沫股票，投資者可能永遠都不會賺到錢。 另一方面，羅傑斯也指出，債券市場肯定也處於泡沫之中。他看好黃金和白銀的價格上升，並且有興趣購買中國股票，因為比美國和大多數其他國家的股票更便宜。 我怎麼看呢？ 現在的資本市場，從QE到紓困刺激方案，資金的確太多。資金當然會追逐有利可圖的目標，我承認，豬牛都上身當然不對的，但如果不錯的公司因為有了SPAC，使IPO的效應變高，我覺得SPAC仍有它的價值。 其中我觀察到以下幾個趨勢，提供你參考。 一、交易規模的中位元數顯著增長 在2021年第一季全球範圍內，創投所支持的公司在6,508筆融資交易案件中募集了1,269億美元。在第一季的所有融資交易輪次，交易規模的中位元數都大幅增長，D輪融資的中位數從2020年的6,000萬美元，增加到2021年第一季的1億美元。 二、交易速度加快，有助於推升估值 隨著全球投資者競相爭奪最大最好的交易，全球創業投資市場在2021年第一季呈現爆炸式的增長。由於許多公司都在進行IPO前融資，市場上似乎出現了大量的「錯失恐懼症」(FOMO，害怕錯失良機)，因為投資者希望達成交易，激烈的競爭和無數輪的超額認購，大大加速了融資活動。 三、投資者持續關注疫情下受惠的行業，但「新常態」也即將到來 如2020年所示，COVID-19疫情並未讓創投資金趨緩，疫情實際上讓許多行業領域反而增加了創投資金的投入，因為投資者希望進入需求快速增長的科技公司，包括SaaS(Software as a Service)軟體服務，運送交付，以及以消費者為中心的廣泛數位化解決方案-從教育科技、遊戲到數位化醫療服務。 隨著疫苗的施打進度，許多投資者正在尋找更長期的機會，以確定可能在後疫情時代「新常態」中，蓬勃發展的公司和商業模式。 四、獨角獸的高速誕生 在全球範圍內，2021年第一季誕生了近100家獨角獸公司，這與歷史趨勢相比，是一個巨大的增長。在這些新的獨角獸公司中，美國占了一半以上，而中國的獨角獸數量也很可觀。 歐洲創投市場也不斷擴張，2021年第一季歐洲有八個地區誕生了近20家新的獨角獸公司，包括一些鮮為人知的創新中心，如奧地利（加密貨幣交易所Bitpanda）、土耳其（食品及雜貨配送平臺Getir）和瑞士（數位員工體驗平臺Nexthink）。 五、IPO出場金額連續二季創歷史新高 這是可想而知的。因為IPO市場放寬了、資金好拿了，當然IPO推出的績效也會更亮眼。新創公司出場活動持續激增，在2021年第一季的667筆出場交易中，出場金額達到破紀錄的2,840億美元，而在2020年全年的2,219筆出場交易中，出場總金額為4,720億美元。 六、SPAC的狂熱仍在持續-，並開始在美國以外的地區擴散 人們對SPAC的狂熱幾乎呈現指數級增長，全球各地的公司都在考慮如何應對最近幾季在美國形成的這種現象。在2021年第一季期間還有大量的SPAC案件，前提是，公司的體質不錯。許多的公司紛紛宣佈了在第一季通過SPAC合併、反向收購達成上市的計劃。與傳統的IPO相比，許多新創公司將SPAC視為一種更快上市的方式。 值得關注的領域，我觀察到有以下幾個熱門領域： 1， 投資新興技術公司的機會將繼續存在，包括生命科學和生物技術公司。 風險投資人Gates還認為，專注於心理健康、降低醫療健康服務成本和為零工工作者提供福利的技術領域存在很多機會。另外，她表示，將出現一波新的勞動力發展工具，專注於對疫情期間失業者、或工作被技術取代者的再培訓。 2， 其他值得關注的領域包括氣候科技、機器學習和人工智慧(AI)，以及清潔（能源）技術 因為美國總統喬·拜登(Joe Biden)承諾實施必要的變革，以儘量減少全球氣候變暖的影響。 3， 未來將出臺更多監管規定 這可能意味著針對網絡安全、私隱、反壟斷、貿易和稅收等領域，市場上將出現相應的解決方案。 4，為富裕家庭和高淨值個人管理資金的非上市公司等非傳統投資者，會將更多資金投向關注ESG社會服務的企業。 所以綠能相關產業，也可望拿到更多資金。 無論如何，以前獲得資金「只有兩種方法」，不是銀行就是IPO市場；而現在，有這麼多其他類型的資金可以滿足你的需求。疫情過後，未來的市場肯定大不相同，創始人需要拋開舊有模式，找到其他方式來讓他們的初創企業走向世界。 二、美國勞工部3日公佈，8月非農就業人數僅增23.5萬人，遠低預期72萬人，以及修正後的105.3萬人。看來經濟情況確實不如預期，通貨膨脹卻是欲罷不能，停滯性通貨膨脹會不會真的來臨？ 國際媒體相關報導 ●CNBC：〈Jobs report disappoints — only 235,000 positions added vs. expectations of 720,000〉(就業報告令人失望，僅增加了235,000個職位，而原本預期為720,000) ●The Wall Street Journal華爾街日報：〈What Every Investor Should Understand About tagflation—but Often Doesn't〉(每個投資者都應該瞭解滯脹—但可惜通常不瞭解) ●BARRONS巴倫周刊：〈Is the Stock Market in a Bubble? Don't Bet on It.〉(股市有泡沫嗎？ 不要押注它。) 分析解讀 美國8月非農業數據大爆冷，令人失望，但專家日前表示，相對而言，即將出爐8月通膨數據更重要，且對美股的衝擊更大。 經濟歷史學家回憶起1960年的大通膨時代，日前賓州大學商學院知名金融教授席格爾（Jeremy Siegel）表示，雖然市場關注8月非農就業數據，但相較之下，8月的通膨數據對美股的衝擊可能會更大，「就我個人觀點來看，8月的通膨數據比非農就業數據更為重要，因為通膨一旦超出預期，Fed將不得不採取更激進的行動」。 停滯性通膨 (stagflation) ，是指經濟成長停滯與通膨同時存在，而一國的經濟成長趨緩，物價持續攀升，造成企業獲利衰退和民間消費支出萎縮、失業率攀升等經濟負面現象。 即使聯準會主席鮑爾（Jerome Powell）多次公開表示，目前的通貨膨脹是短暫現象，居高不下的數據將隨著時間而緩解，不會讓金融市場陷入難以挽回的失控狀況。儘管如此，有專家認為，現在的經濟政策與通貨膨脹將引發嚴重的債務危機，債券、信貸及股票市場將出現崩潰。 不過，有「末日博士」之稱的紐約大學經濟學教授魯比尼（Nouriel Roubini），近日針對經濟現況發表看法，「儘管政府採取很多刺激政策，但通膨數據正在增加，而經濟成長卻開始放緩，這讓美國距離停滯性通貨膨脹越來越近。」 魯比尼補充說道，「在此環境下，若供應鏈的負面狀況遲遲未解決，會導致像1970年代的停滯性通貨膨脹爆發，導致嚴重的債務危機。」此外，魯比尼認為，「Delta變種病毒持續影響全球經濟，且聯準會提出的寬鬆貨幣政策，可能會導致債券、信貸及股票市場崩潰。」 事實上，當前持續寬鬆的貨幣、信用和財政政策組合將過度刺激總需求、導致通膨過熱，讓問題更複雜的是，中期的負面供應震撼將降低潛在成長並提高生產成本。隨著諸多不利因素接踵而至，這些需求和供應動態可能導致像1970年代的停滯性通膨（stagflation），最終甚至釀成嚴重的債務危機。 事實上，有多種因素造成今年夏季的輕微停滯性通膨。首先，Delta變種新冠病毒暫時提高了生產成本、降低了產量成長，並且限制了勞工供應。 另外，許多勞工仍在領取即將於9月到期的加碼失業救濟金，不願重返工作場所，尤其現在Delta正到處肆虐。在生產面，Delta正在擾亂許多服務業的重新開張，並且破壞全球供應鏈、港口和物流系統。 如果市場對經濟和通膨的樂觀看法真的錯了？ 例如，到年底時，美國的核心通膨率可能仍接近4%。從拜登政府的刺激計畫、以及歐元區經濟體明年仍可能出現巨額財政赤字來看，總體經濟政策也可能維持寬鬆。歐洲央行和許多其他先進經濟體央行仍將致力於拉長非傳統政策的實施時間。 儘管Fed正在考慮逐步縮減量化寬鬆（QE）規模，但可能會保持鴿派立場。Fed就和多數央行一樣，近年來已政府和民間負債的GDP佔比急升，墜入一場「債務陷阱」。即使通膨持續盤旋在目標值以上，但過早縮減QE可能導致債券、信用和股票市場崩跌，致使經濟硬著陸，可能迫使Fed改弦易轍並且恢復QE。 而中期的停滯性通膨正步步進逼。 從中長期來看，負面的供應震撼可能會持續下去。至少已能辨識出九個負面因素，包括全球化和保護主義抬頭的趨勢、供應鏈的巴爾幹化與回流本國、先進經濟體和主要新興市場的人口老化、更嚴格的移民限制正在阻礙移民遷移、美中冷戰方興未艾，且可能使全球經濟支離破碎、氣候變遷正在擾亂農業，並導致糧食價格飆升。 此外，全球疫情持續延燒，勢將導致更多國家追求關鍵商品和材料的自給自足，並實施出口管制。再加上前述的九個不利因素，通膨陰影就顯而易見。 讓我們回顧一下，美國1974～1982年的通貨膨脹是怎麼來的。這九年的通膨率都在11.0％~5.8％之間，連續九年高通膨、低成長，這是二戰之後最長的通膨期間，被經濟學家稱為停滯性通膨（stagflation）。 這一波美國通膨的疑慮除了來自原油，不少人認為貨幣供給過於泛濫也是原因，隨著去年無限量化寬鬆（QE）為市場注入3.7兆美元，美國的貨幣供給M2年增率月月逾20％，這自然讓人想起經濟學家弗裡曼的名言：「通膨，就是過多的貨幣追逐過少的商品。」然而，貨幣到底是追逐商品形成通膨？還是追逐股價造成泡沫，還很難說。 1986～1988年台灣連續三年貨幣供給M2年增率達到20％，當年不少學者也擔心通膨又將捲土重來，結果這三年的平均通膨率僅0.8％，完全沒有通膨，錢全跑去炒股、炒房了。 美、歐及台灣近期都面臨通膨壓力，是該小心因應，惟這個壓力尚不至形成恐慌，也不可能重演1980年代的停滯通膨。 《經濟學人》總評 這期的經濟學人封面設計，讓我們看見一座象徵言論自由的演講台，被萬箭穿心的傷痕累累。上面一排大字：「The threat from the illiberal left」(來自狹隘左傾的威脅)。 經濟學人本週的封面故事用了四篇文章，提出警告：古典自由主義正在遭受重大的威脅。一個危險來自川普主義的右翼，但來自左邊的攻擊更令人驚訝，而且更難掌握。 從表面上看，像《經濟學人》這樣信奉古典自由主義者，看起來跟狹隘左翼者有點類似，兩者都認為無論個人的性取向或種族是什麼，人們都應該自由發展。他們都質疑權威和那些記得利益者，他們始終相信改變是被需要的。 然而，古典自由主義者和狹隘進步主義者，對於該如何實現這些事情有著自己的堅持。古典的自由主義者認為，駕馭好分裂世界中的顛覆性變革，最佳方式就是通過對個人尊嚴、開放市場和有限權力政府的普世承諾。而狹隘的左派，更願意透過不讓他們的敵人建立平臺，並取消已經違規的盟友，來加強意識形態的純潔性，經濟學人認為，這個賭注真的太大了。 聽到這裡，你可能認為這是一個討論政治思潮衝擊的文章，但看完這四篇文章你會發現，它主要想傳達的是擔心—這個世界對於真象跟現實，已經越來越不在意。 Powered by Firstory Hosting

BlackRock Inc Q2 2021 Earnings Call --- Send in a voice message: https://anchor.fm/earningspodcast/message Support this podcast: https://anchor.fm/earningspodcast/support

Indian Equities declined in-line with Asian peers on Friday as rapidly spreading Delta variant of Covid-19 in the region fanned fears of a stalled growth. That apart, Washington's call to add at least 10 Chinese entities to its economic blacklist over alleged human rights abuses and high-tech surveillance in Xinjiang pulled benchmarks in Japan, South Korea, and China down by up to 1 per cent. However, stocks in Europe, along with US stock Futures, rebounded after JPMorgan Asset Management, BlackRock Inc. and Morgan Stanley Wealth Management -- which together account for some $12 trillion in assets -- said global growth is still on track. Amid these mixed global cues, benchmark indices remained volatile during the day but ended lower amid profit-booking in blue chip stocks. Heavyweights TCS, HDFC Bank, Reliance Industries, Axis Bank, Kotak Bank, and HDFC, along with Wipro, Bajaj Auto, and M&M, dragged the S&P BSE Sensex down 183 points, or 0.35 per cent, to settle at 52,386 levels while NSE's 50-share benchmark declined 38 points, or 0.24 per cent, to close at 15,690 levels. The broader markets, on the flipside, settled about half a per cent higher with the BSE MidCap and BSE SmallCap indices rising 0.7 per cent and 0.4 per cent, respectively. Among individual stocks, shares of Tata Consultancy Services slipped nearly 2 per cent at Rs 3,201 on the BSE in intra-day trade on Friday, after a slowdown in the company's India business dragged its June quarter (Q1FY22) earnings. While the brokerages on a consensus did revise their earnings estimates downwards on revenue miss in the June quarter, and flagged rich valuations, they largely held 'Buy' or 'Hold' calls on the stock. Technically, the overall price structure reflects an "ascending triangle pattern" for IT major TCS. As per daily charts, the stock faces stiff resistance in the range of Rs 3,400 – Rs 3,300 per share. That said, a breakout above this level may result in a rally towards Rs 3,700 and then Rs 3,900 levels. That apart, Bajaj Finserv entered the elite club of companies having a market capitalisation (market-cap) of Rs 2 trillion after its stock price hit a new high of Rs 12,910, up 4.6 per cent in Friday's otherwise range-bound market. The stock of the Bajaj Group's holding company surpassed its previous high of Rs 12,529.15, touched on June 28, 2021. At close, Bajaj Finserv's market-capitalisation stood at Rs 2.03 trillion. Currently, Bajaj Finserv holds the 20th position in terms of overall market-cap ranking. Bajaj Finance, another group company, stood at number 9th with a market-cap of Rs 3.7 trillion, data shows. Shares of Tata Steel, meanwhile, ended as the top Nifty gainer, up over 4 per cent at Rs 1,240, after rating agency CARE Rating revised the company's long-term credit rating to "stable outlook" from "negative". The stock of the Tata Group Company was trading close to its record high level of Rs 1,247, touched on May 12, 2021. According to the rating agency, the revision in rating and outlook assigned to the instruments of Tata Steel Limited (TSL) factors in the improvement in performance witnessed during FY21, especially Q2FY21 onwards. Lastly, shares of Edelweiss Financial Services were locked in the upper circuit of 10 per cent at Rs 86.50 on the BSE after the latest shareholding pattern showed that ace investor Rakesh Radheshyam Jhunjhunwala increased his holding in the company by purchasing additional 4 million equity shares during the April-June quarter (Q2CY21). Primary market update: Volatility in the secondary markets diverted investors towards primary offers with the three-day issues of Clean Science and Technology and GR Infraprojects garnering massive subscription. Clean Sciences' issue, for instance, has been subscribed over 93 times with non-institutional investors' portion seeing a subscription of 206 times and QIB portion 156 times. GR Infra, on the other

BlackRock Inc Q1 2021 Earnings Call --- Send in a voice message: https://anchor.fm/earningspodcast/message Support this podcast: https://anchor.fm/earningspodcast/support

BlackRock, Inc., Q1 2021 Earnings Call, Apr 15, 2021

Green Stream Holdings Inc. (ticker symbol GSFI) an emerging leader in the solar utility and finance space, announces today what it believes to be a new era for Renewable Energy and its Solar Utilities/Financing model as stocks rise in advance of the inauguration of Joe Biden as the 46th President of the United States.Biden's agenda is to transition the U.S. from an economy reliant on fossil fuels to one driven by wind, solar and other renewable-energy sources. The shift from fossil-fuel companies to renewable-energy firms accelerated during the Trump administration, despite the president's vows to support the U.S. coal and petroleum industries.Big and small investors have moved their assets away from fossil-fuel producers and toward renewable energy companies. Big investors like BlackRock Inc., the world's largest asset manager, overseeing $7.8 trillion, have said they plan to take into account corporations' disclosures of environmental risks, including carbon footprints.According to Wells Fargo senior market strategist Scott Wren, quote, “Since the start of the year, cyclicals have outperformed, with energy gaining the most, up 15%, helped by higher oil prices. Financials were up 5.1%, and materials were up 4.4%. All of these cyclicals stocks have moved in advance of what we think will be a higher rate move. Rates have moved up to support that idea. We think they could go up quite a bit more over the course of the next several months.” End quote. As well, The iShares Global Clean Energy ETF, which tracks S&P Global's index of clean energy companies around the world, has risen by nearly 30% since July 2020. The fund's assets under management swelled to $1.2 billion from $431 million at the start of the year.GSFI CEO Eric Fain is encouraged by the increased opportunity Biden's new agenda could mean for companies like Green Stream Holdings. Quote, "I believe we are at the dawn of a new era for renewable energy and, in turn, an increased access to market with ability to expedite shareholder value as we cultivate new opportunities alongside our current projects in New York, including:160 Imlay street. Brooklyn Ny8012 Tonelle Ave; North Bergen, NJ44 Victory Blvd; Staten Island, NY111 Station Road; Bellport, NY15-17 Sherwood Ave - Yonkers Proposal4290 Austin Blvd; Island Park, NYWe have recently moved our headquarters to a functional work/living space which belongs to our flagship project at 160 Imlay Street in Brooklyn, New York, where our utility/financing model can be seen in action as we continue to develop opportunities in the NE United States and beyond.” End quote.

Don't read the commentsWe talk occasionally about the theory that BlackRock Inc. rules the world. Not BlackRock per se, exactly,[1] but there is a sma... companies need to address it popular argument goes beyond once said talked timeswrote a paper once wrote comical resultsnow’s your chance to tell Facebook about itthe Oversight Board said this beforeraked in so, so, so much money the joke issponsor their own SPACsGS Acquisition Holdings Corp II financial projections certainty of proceeds good sponsor and board occasional misgivingsOofhere it ismain results pagewebsitewebsiteNasdaq website very simple and almost universally adopted solutiona storywent to prison for itSecurities and Exchange Commission enforcement actionboth at onceMega Millions is up to $970 million—there’s one way to up the odds of winning, according to a Harvard statistics professorthe best of both worldsBets on Fannie and Freddieconsumer protection role a kind of religious movementSPAC ETF Launchset to private1839denies undercover romancesubscribe at this linkherethe Biden administration also pretty good for banks the same thing as a traditional IPO news releaseForm 8-K

BlackRock, Inc. (NYSE: BLK) Q3 2020 Earnings Call dated Oct. 13, 2020 Revenues increased 18% year-over-year to $4.3 billion helped by higher performance fees and continued organic growth. GAAP net income increased 22% to $1.3 billion while EPS rose 24% to $8.87. Adjusted net income grew 27% to $1.4 billion while adjusted EPS increased 29% to $9.22. Corporate Participants: Christopher Meade — Chief Legal Officer Gary Shedlin — Chief Financial Officer Larry Fink — Chairman and Chief Executive Officer Rob Kapito — President Analysts: Michael Carrier — Bank of America Merrill Lynch — Analyst Craig Siegenthaler — Credit Suisse — Analyst Brian Bedell — Deutsche Bank — Analyst Michael Cyprys — Morgan Stanley — Analyst Alexander Blostein — Goldman Sachs — Analyst Dan Fannon — Jefferies — Analyst --- Send in a voice message: https://anchor.fm/earningspodcast/message Support this podcast: https://anchor.fm/earningspodcast/support

BlackRock, Inc. - Q3 2020 Earnings Call - Oct 13, 2020

Entrepreneur Yemi Rose is the founder of OfColor, a digital financial wellness platform focused on providing content and banking tools built around how people of color save, spend, and build our legacies differently. We discuss the role financial services has played and continues to play in widening the racial wealth gap.Growing up in Jamaica and the differences of “being Black” there versus here in the United States. Why we may want to rethink the expression “racial wealth gap.” Does it deserve a renaming? How his startup OfColor will provide better access to financial tools and education to an underserved community. Yemi has spent almost two decades at the intersection of financial services and communications/marketing focused on financial wellness, most recently as the Vice President of Financial Wellness Enterprise Initiatives with Prudential Financials' Global Communications Group. In this most recent role, he led the development of Prudential's Financial Wellness Census research project, as well as “The Cut,” which focused on underserved consumers. He writes and speaks extensively on the racial wealth gap, and his writings on the subject have been published in Black Enterprise, The Root, Blavity, and Money.com. After beginning his career as a Capital Markets Intelligence Associate for Thomson Financial, he served as an Investor Relations Director for several top-tier financial communications agencies, before moving to in-house roles. He has served as a senior executive at KPMG and BlackRock Inc., where he worked on helping them to maximize the value of their acquisitions and fintech ventures. He holds both a bachelor's and a Master's degree from Cornell University. Yemi was born and raised in Jamaica, and now lives with his wife and two daughters in New Jersey. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Show #838   Good morning, good afternoon and good evening wherever you are in the world, welcome to EV News Daily for Monday 11th June 2020. It’s Martyn Lee here and I go through every EV story so you don't have to.   Thank you to MYEV.com for helping make this show, they’ve built the first marketplace specifically for Electric Vehicles. It’s a totally free marketplace that simplifies the buying and selling process, and help you learn about EVs along the way too.   VW's new EV (ID.3) on sale on 7/20 Nissan's new EV (Ariya) launch on 7/15 BMW's new EV (iX3) launch Daimler to ramp sales of its EQC to 7.9K/month   ELECTRIC CAR MAKER FISKER TO GO PUBLIC THROUGH SPAC DEAL AT $2.9 BILLION VALUATION "Electric car maker Fisker will go public through a merger with a blank-check company backed by alternative investment manager Apollo Global Management Inc at a valuation of $2.9 billion, the companies said on Monday." according to Reuters: "Reuters reported last week that the special-purpose acquisition company, Spartan Energy Acquisition Corp (SPAQ_u.N), was leading a bidding war among blank-check companies for Fisker. A blank-check company is a shell company that raises money through an IPO to buy an operating company, typically within two years. The Fisker deal, expected to close in the fourth quarter, will provide Fisker with $1 billion in gross proceeds, including $500 million of funds from existing and new investors such as AllianceBernstein and BlackRock Inc. The proceeds will be used to bring the company’s Fisker Ocean SUV to market in late 2022. Fisker said the startup is in talks with other companies, including Magna International, about building the SUV. Magna declined to comment. "   https://www.reuters.com/article/us-spartan-energey-m-a-fisker-idUSKCN24E1FB   SALES OF ID.3 START ON JULY 20 Four weeks after the start of ordering for the limited ID.3 1ST for pre-bookers, Volkswagen is opening the ordering system to the public on July 20, 2020. Customers in many European countries will be able to choose from seven pre-configured ID.3 models at dealerships and to order the appropriate charging equipment at the same time. All seven ID.3 models will be eligible for the maximum state subsidy of €9,480 granted as an environmental bonus in Germany. Subsidies will also be available for the ID.3 in many other European countries.   Life - Style – Business – Family– Tech – Max   These are six out of seven models which customers can order starting on July 20, available for delivery from October. They are based on the basic model ID.3 Pro Performance with a 58-kWh battery (net battery energy content) for a range of up to 420 km (WLTP2) with the 150 kW Performance rear-wheel-drive system.   With delivery in October, customers will receive a free-of-charge update for the two outstanding digital functions AppConnect und and the distance feature of the augmented reality head-up display for the “Tech” and “Max” models in the first quarter of 2021. All models delivered in the first quarter of 2021 will already be equipped with all functions.   Without optional equipment, the ID.3 ProPerformance costs €35,574.95   The 7th preconfigured model “Tour” can also be ordered starting on July 20. It is based on the four-seat ProS model that allows for a bigger battery (77 kWh net battery energy content) with a range of up to 550 km (WLTP) and 125kW DC charging, starting at €40,936.31.   The ID.3 “Tour”, available for €45,917.48, is already equipped with all the features you would like to have on long journeys: Head-up Display and Sound package, matrix LED headlamps, comfort package, 12-way massage seat and assistant package with all driver assistance systems are all included, together with 19-inch aluminum wheels.     VW REPORTEDLY REPLACING HEAD OF SOFTWARE DIVISION OVER ID.3 STRUGGLES "Volkswagen is replacing its head of software development, newspaper Handelsblatt reported on Sunday, as the German carmaker wrestles with the transition to electric vehicles." says Autoblog today: "The newspaper said Christian Senger, a former BMW manager who runs the recently founded Car.Software.Org unit, was to be replaced after clashes with the company and concern at software problems with the recent ID.3 and Golf 8 vehicles. Senger was part of a network of external managers Chief Executive Herbert Diess had brought in to reform the company. Senger, after working on BMW’s i3 electric car, helped Volkswagen make its MEB electric car platform, a key pillar of its revival in the wake of a 2015 diesel cheating scandal."   https://www.autoblog.com/2020/07/13/vw-replacing-head-of-software-division/   TESLA MODEL Y PRICE CUT AS ELON CONFIRMS NEW VERSION IN TESTING  Tesla CEO Elon Musk has confirmed that these price adjustments aren’t the only tweaking the Model Y is going to see. For a start, the Model Y Standard Range that was originally promised at the crossover’s debut is now no longer going to be built, Musk said. That version was intended to come in at $39,000, and launch in spring 2021." says Slashgear: "According to Musk, range for the car would be under 250 miles by the EPA’s measure, something he described as “unacceptably low.” Instead, he explained, there will be a Model Y Long Range Single Motor arriving “in a few months.” That should be more affordable, Musk argued, “while still keeping the product excellent. As to what exact range drivers might be able to expect from that version of the crossover, Tesla is still doing the testing. “Numbers will be significantly higher than 300,” Musk suggested.”   https://www.slashgear.com/tesla-model-y-price-cut-as-elon-confirms-new-version-in-testing-13628635/   Originally:   Standard Range RWD – $39,000 (or $40,000?) (Spring 2021)   estimated EPA range – 230 miles (370 km) 0-60 mph (96.5 km/h) in 5.9 seconds top speed of 120 mph (193 km/h) 18″ wheels (19’’ Sport Wheels for $1,500)   So will we ever see the base version of the Cybertruck?   And what of Elon saying 230 miles is not acceptable? They've raising for tide of other EV makers, changing perceptions.     TEST-DRIVING THIS OBSCURE 1997 SPORTS CAR CONVINCED ELON MUSK TO MAKE ELECTRIC CARS AND INVEST IN TESLA "In 2003, Musk, long interested in sustainability and electric cars, test drove a model car called the Tzero. [The first Tzero model] literally didn’t have doors or a roof, or any airbags or an effective cooling system. It was not safe or reliable,” according to CNBC: "The electric sports car built in 1997 by a small California company called AC Propulsion, was essentially a version of “the prototypical Tesla Roadster,” according to Wired. But while AC Propulsion founder Alan Cocconi and then-CEO Tom Gage were “technology visionaries,” according to Wired, they didn’t have “the entrepreneurial vision to see just how big an idea it could become” or “the means to achieve it.” Musk did. He was inspired and saw an opportunity to bring the electric car to market. Although Musk didn’t want to take on another start-up (he had just founded aerospace company SpaceX), he asked Cocconi and Gage if he could commercialize the Tzero. They agreed, according to Musk, and Gage suggested Musk speak with electric car start-up Tesla Motors and its founders, engineers Martin Eberhard and Marc Tarpenning, who were also looking to commercialize the Tzero.  With money Musk earned as a co-founder of PayPal, which eBay bought for $1.5 billion in 2002, he invested $6.3 million in start-up Tesla Motors in 2004""   https://www.cnbc.com/2020/07/13/test-drive-that-influenced-musk-to-make-electric-cars-invest-in-tesla.html   FORMER TESLA VP SAYS 'NIMBLENESS' IS THEIR SECRET SAUCE "Philippe Chain, Tesla’s former VP of Quality, gave some interesting insight into this aspect of Tesla’s business in a new article. As an example of Tesla’s nimbleness, Chain explained how Tesla managed to modify a part within 5 days of having it failed in an NHTSA test.Chain, who worked at Renault prior to Tesla and at Audi after, wrote:   “What took a single meeting and five days at Tesla would have required a six-month-long process at Renault or Audi. It would have started with a thorough investigation going back to the source of the error, looking for the person to blame internally, investigating a possible blunder of the supplier, etc. Then, a politically delicate sequence would have unfolded to set up a series of meetings and workshops. Multiple hierarchical strata would have been involved, going up probably to the very top of the organization.”"   And also: "“Another good example is the long-term durability evaluation of a car. When I discussed it with Elon, I told him our engineers’ calculations led to at least a million equivalent miles of driving required before launching the car — a six-month phase required to discover potential weaknesses and fix them. My request was actually very limited in regards to the industry practices: German manufacturers don’t release a car that has not clocked 10 million kilometers and two winters. Elon, in his customary laconic way, answered: “OK, do it. But we are not delaying the launch date for it… — But we might encounter issues that will require some modifications of the production models… — Yeah, I know, but we will make the changes afterward if we have to… — Even if it involves recalling some cars? — Yes. And for the rest, we will adjust by pushing some OTA upgrades"   https://electrek.co/2020/07/13/tesla-former-vp-quality-explains-issues/     CADILLAC EXPLAINS ORIGINS OF LYRIQ EV NAME "GM Authority asked Cadillac about the origin of the Lyriq name for the coming battery-electric crossover. Global head of brand strategy Phil Dauchy explained three threads that went into the new moniker. In no particular order, one thread is that "Cadillac," according to Dauchy, gets more mentions in song lyrics than any other brand, including non-automotive brands. The second thread is rolled up with Cadillac's move to proper names instead of alphanumerics for the sedan and crossover lines, all of those names to end in "iq," as well as the push into electric vehicles. Dauchy told GMA the nomenclature overhaul and the two-letter suffix "[signal] that Cadillac is bringing a different type of vehicle to market, one that works in concert with man, nature, and machine." He's bullish on swaying the public with the product, adding, "When you see [the Cadillac Celestiq], its size, presence and scale all connote the emotion associated with the name."   https://www.autoblog.com/2020/07/13/cadillac-lyriq-ev-name-explanation/       [mention for Premium Partners]   You can listen to all 837 previous episodes of this this for free, where you get your podcasts from, plus the blog https://www.evnewsdaily.com/ – remember to subscribe, which means you don’t have to think about downloading the show each day, plus you get it first and free and automatically.   It would mean a lot if you could take 2mins to leave a quick review on whichever platform you download the podcast.   And  if you have an Amazon Echo, download our Alexa Skill, search for EV News Daily and add it as a flash briefing.   Come and say hi on Facebook, LinkedIn or Twitter just search EV News Daily, have a wonderful day, I’ll catch you tomorrow and remember…there’s no such thing as a self-charging hybrid.     PHIL ROBERTS / ELECTRIC FUTURE (PREMIUM PARTNER) BRAD CROSBY (PREMIUM PARTNER) AVID TECHNOLOGY (PREMIUM PARTNER) BRIGHTSMITHGROUP.COM – FOR CLEANTECH TALENT (PREMIUM PARTNER) PORSCHE OF THE VILLAGE CINCINNATI (PREMIUM PARTNER) AUDI CINCINNATI EAST (PREMIUM PARTNER) VOLVO CARS CINCINNATI EAST (PREMIUM PARTNER) NEW! NATIONALCARCHARGING.COM and ALOHACHARGE.COM  (PREMIUM PARTNER)   OEM AUDIO OF NEW ZEALAND AND EVPOWER.CO.NZ (PARTNER) PAUL O’CONNOR (PARTNER) TRYEV.COM (PARTNER) GARETH HAMER eMOBILITY NORWAY HTTPS://WWW.EMOBILITYNORWAY.COM/  (PARTNER) BOB BOOTHBY – MILLBROOK COTTAGES AND ELOPEMENT WEDDING VENUE (PARTNER) EV-RESOURCE.COM   ALAN ROBSON (EXECUTIVE PRODUCER) ALAN SHEDD (EXECUTIVE PRODUCER) ALEX BANAHENE (EXECUTIVE PRODUCER) ALEXANDER FRANK @ https://www.youtube.com/c/alexsuniverse42 ANDERS HOVE (EXECUTIVE PRODUCER) ANDREA JEFFERSON (EXECUTIVE PRODUCER) ASEER KHALID (EXECUTIVE PRODUCER) ASHLEY HILL (EXECUTIVE PRODUCER) BÅRD FJUKSTAD (EXECUTIVE PRODUCER) BRENT KINGSFORD (EXECUTIVE PRODUCER) BRIAN THOMPSON (EXECUTIVE PRODUCER) BRUCE BOHANNAN (EXECUTIVE PRODUCER) CHARLES HALL (EXECUTIVE PRODUCER) CHRIS HOPKINS (EXECUTIVE PRODUCER) COLIN HENNESSY AND CAMBSEV (EXECUTIVE PRODUCER) CRAIG COLES (EXECUTIVE PRODUCER) CRAIG ROGERS (EXECUTIVE PRODUCER) DAMIEN DAVIS (EXECUTIVE PRODUCER) DARREN BYRD (EXECUTIVE PRODUCER) DARREN FEATCH (EXECUTIVE PRODUCER) DARREN SANT FROM YORKSHIRE EV CLUB (EXECUTIVE PRODUCER) DAVE DEWSON (EXECUTIVE PRODUCER) DAVID BARKMAN (EXECUTIVE PRODUCER) DAVID FINCH (EXECUTIVE PRODUCER) DAVID MOORE (EXECUTIVE PRODUCER) DAVID PARTINGTON (EXECUTIVE PRODUCER) DAVID PRESCOTT (EXECUTIVE PRODUCER) DEREK REILLY FROM THE EV REVIEW IRELAND YOUTUBE CHANNEL (EXECUTIVE PRODUCER) DON MCALLISTER / SCREENCASTSONLINE.COM (EXECUTIVE PRODUCER) ENRICO STEPHAN-SCHILOW (EXECUTIVE PRODUCER) ERU KYEYUNE-NYOMBI (EXECUTIVE PRODUCER) FREDRIK ROVIK (EXECUTIVE PRODUCER) FREEJOULE AKA JAMES (EXECUTIVE PRODUCER) GENE RUBIN (EXECUTIVE PRODUCER) GILBERTO ROSADO (EXECUTIVE PRODUCER) GEOFF LOWE (EXECUTIVE PRODUCER) HEDLEY WRIGHT (EXECUTIVE PRODUCER) IAN GRIFFITHS (EXECUTIVE PRODUCER) IAN SEAR (EXECUTIVE PRODUCER) IAN (WATTIE) WATKINS (EXECUTIVE PRODUCER) JACK OAKLEY (EXECUTIVE PRODUCER) JAMES STORR (EXECUTIVE PRODUCER) JERRY ALLISON (EXECUTIVE PRODUCER) JIM DUGAN (EXECUTIVE PRODUCER) JIM MORRIS (EXECUTIVE PRODICERS) JOHN BAILEY (EXECUTIVE PRODUCER) JOHN C SOLAR (EXECUTIVE PRODUCER) JOHN LACEY FROM CLICK CLACK VIDEO NZ (EXECUTIVE PRODUCER) JON AKA BEARDY MCBEARDFACE FROM KENT EVS (EXECUTIVE PRODUCER) JON MANCHAK (EXECUTIVE PRODUCER) JUAN GONZALEZ (EXECUTIVE PRODUCER) KEN MORRIS (EXECUTIVE PRODUCER) KEVIN MEYERSON (EXECUTIVE PRODUCER) KYLE MAHAN (EXECUTIVE PRODUCER) LARS DAHLAGER (EXECUTIVE PRODUCER) LAURENCE D ALLEN (EXECUTIVE PRODUCER) LEE BROWN (EXECUTIVE PRODUCER) LUKE CULLEY (EXECUTIVE PRODUCER) MARCEL LOHMANN (EXECUTIVE PRODUCER) MARCEL WARD (EXECUTIVE PRODUCER) MARK BOSSERT (EXECUTIVE PRODUCER) MARTIN CROFT DORSET TRADESMEN MARTY YOUNG  (EXECUTIVE PRODUCER) MATT PISCIONE (EXECUTIVE PRODUCER) MAZ SHAR (EXECUTIVE PRODUCER) MICHAEL AND LUKE TURRELL (EXECUTIVE PRODUCER) MIA OPPELSTRUP (PARTNER) MICHAEL PASTRONE (EXECUTIVE PRODUCER) MIKE ROGERS (EXECUTIVE PRODUCER) MIKE WINTER (EXECUTIVE PRODUCER) NATHAN GORE-BROWN (EXECUTIVE PRODUCER) NEIL E ROBERTS FROM SUSSEX EVS (EXECUTIVE PRODUCER) NIGEL MILES (EXECUTIVE PRODUCER) NORTHERN EXPLORERS (EXECUTIVE PRODUCER) OHAD ASTON (EXECUTIVE PRODUCER) PAUL RIDINGS (EXECUTIVE PRODUCER)               PAUL STEPHENSON (EXECUTIVE PRODUCER) PERRY SIMPKINS (EXECUTIVE PRODUCER) PETE GLASS (EXECUTIVE PRODUCER) PETE GORTON (EXECUTIVE PRODUCER) PETER & DEE ROBERTS FROM OXON EVS (EXECUTIVE PRODUCER)  PHIL MOUCHET (EXECUTIVE PRODUCER) PHILIP TRAUTMAN (EXECUTIVE PRODUCER) PONTUS KINDBLAD (EXECUTIVE PRODUCER) RAJ BADWAL (EXECUTIVE PRODUCER) RAJEEV NARAYAN (EXECUTIVE PRODUCER) RALPH JENSON (EXECUTIVE PRODUCER) RENÉ SCHNEIDER (EXECUTIVE PRODUCER) RICHARD LUPINSKY (EXECUTIVE PRODUCER) ROB COOLING / HTTP://WWW.APPLEDRIVING.CO.UK/ (EXECUTIVE PRODUCER) ROB HERMANS (EXECUTIVE PRODUCER) ROB FROM THE RSTHINKS EV CHANNEL ON YOUTUBE (EXECUTIVE PRODUCER) ROBERT GRACE (EXECUTIVE PRODUCER) ROBIN TANNER (EXECUTIVE PRODUCER) RUPERT MITCHELL (EXECUTIVE PRODUCER) SARI KANGASOJA (EXECUTIVE PRODUCER) SEIKI PAYNE (EXECUTIVE PRODUCER) STEPHEN PENN (EXECUTIVE PRODUCER) STEVE JOHN (EXECUTIVE PRODUCER) THOMAS J. THIAS  (EXECUTIVE PRODUCER) THE PLUGSEEKER – EV YOUTUBE CHANNEL (EXECUTIVE PRODUCER) TIM GUTTERIDGE (EXECUTIVE PRODUCER) WILLIAM LANGHORNE (EXECUTIVE PRODUCER)     CONNECT WITH ME! EVne.ws/itunes EVne.ws/tunein EVne.ws/googleplay EVne.ws/stitcher EVne.ws/youtube EVne.ws/iheart EVne.ws/blog EVne.ws/patreon   Check out MYEV.com for more details: https://www.myev.com

The newest guest in our #BlackWealthMatters series is entrepreneur Yemi Rose. He is the founder of OfColor, a digital financial wellness platform focused on providing content and banking tools built around how people of color save, spend, and build our legacies differently. We discuss the role financial services has played and continues to play in widening the racial wealth gap. Growing up in Jamaica and the differences of “being Black” there versus here in the United States. Why we may want to rethink the expression “racial wealth gap.” Does it deserve a renaming? How his startup OfColor will provide better access to financial tools and education to an underserved community. Yemi has spent almost two decades at the intersection of financial services and communications/marketing focused on financial wellness, most recently as the Vice President of Financial Wellness Enterprise Initiatives with Prudential Financials’ Global Communications Group. In this most recent role, he led the development of Prudential’s Financial Wellness Census research project, as well as “The Cut,” which focused on underserved consumers. He writes and speaks extensively on the racial wealth gap, and his writings on the subject have been published in Black Enterprise, The Root, Blavity, and Money.com. After beginning his career as a Capital Markets Intelligence Associate for Thomson Financial, he served as an Investor Relations Director for several top-tier financial communications agencies, before moving to in-house roles. He has served as a senior executive at KPMG and BlackRock Inc., where he worked on helping them to maximize the value of their acquisitions and fintech ventures. He holds both a bachelor's and a Master's degree from Cornell University. Yemi was born and raised in Jamaica, and now lives with his wife and two daughters in New Jersey.

Programming note: Money Stuff will be off tomorrow, back on Thursday. ETFsLoosely speaking the way conventional monetary policy works is that the cent... unconventional monetary policytarget long-term risk-free rates tooup to $750 billionhiring BlackRock IncAnywayCompanies Can Borrow From the Fed Nowfirst the ETFsInvestment Management AgreementBrian Chappatta points outterm sheetevolving viewaccreditedtalked last monthanother onewhere will I list my exchangeI have a list right herewell-known historywas allegedly pitched to investorsprospectus or offering memorandum or whateverlaunch an unsuccessful invasionwhere hesaid Scott Haggertytweeted yesterdaypeaked last Februaryillegally distributing flamethrowerslegal realismonce imagineda big drilltunnel his way out and escape on a rocket ship to Marshas an 8-day-old babyFell by Most on RecordBlackRock Stake Saleemerging markets debt crisisPension-Fund LossesBolster CapitalRussell Reconstitutionearnings slidepaid 80%LandlordsLandlordsdollar funding marketsvirtual banking internshipHigher Tax Billsfilling a swimming pool with crude oilsubscribe at this linkhere

Ахмад Золбоо подкастын 12 дахь дугаараар Япон дахь BlackRock олон улсын хөрөнгө оруулалтын компанид аналистаар ажилладаг мундаг бүсгүйтэй ярилцсан дугаараа хүргэж байна. @usagi_robot @zolboobay

The Rundown - Digital DollarPeople's Bank of China Digital Yuan USD Held World WideHow many Satoshi's are there in 21 Million? 2,100,000,000,000,000After bitcoin becomes too expensive for the average person to deal with it in whole bitcoins (already the case for some people), we will begin dealing, speaking, and thinking in smaller units like millibitcoin and microbitcoin, but the most elemental bitcoin unit is the satoshi.How many satoshis are there (or at maximum)? This many:2,100,000,000,000,000Which is found by multiplying the maximum 21 million bitcoin by the number of satoshis per bitcoin, which is 100 million.How do you pronounce that huge number? Like this:"Two quadrillion one hundred trillion."5 Good MinutesQE InfinityThe United States Federal Reserve has suggested it could print unlimited money. Here's what that means for Bitcoin. Traditional markets are in dire straits. The S&P 500 has dropped to levels not seen since 2017, and the Dow Jones has fallen to levels not seen since 2016. In response, the Fed is doing all it can to try to stop the carnage, promising $1 trillion in daily repo operations (loans to banks) and further quantitative easing—putting more money into the system. The Hard TruthWhat I think is really going on…Fed Enlists BlackRock In Its Massive Debt-Buying ProgramsThe Federal Reserve tapped BlackRock Inc. to shepherd several debt-buying programs on behalf of the U.S. central bank as it works to revive an economy reeling from the spread of coronavirus.BlackRock, the world's largest asset manager, will serve as an investment adviser and manage assets for three separate programs, the New York Fed said Tuesday. Those include two new facilities the central bank announced Monday to provide liquidity to corporate borrowers, as well as purchases of agency commercial mortgage-backed securities.The Fed's move to tap BlackRock carries echoes of the last U.S. financial crisis. In the fallout from the 2008 meltdown and its subsequent bailouts, the central bank turned to the asset manager to run portfolios of mortgage assets from Bear Stearns Cos. and insurer American International Group Inc.

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In honor of Women’s History Month, Justin Smulison is bringing you an episode featuring three amazing women — Christy Kaufman, the Risk Analytics and Insights Director for American Family Insurance; Deidre Wright, the Owner of Strategic Stories; and Lori Seidenberg, the Global Director of Real Assets Insurance for BlackRock Inc.   These three women will also be hosting a panel titled, “Empowering the Advancement of Women in the Insurance Industry,” at the upcoming RIMS 2020 Annual Conference on Tuesday, May 5th at 3 pm! This panel is part of the Career Development track and will be hosted by the RIMS New York Chapter.   In today’s episode, they will be providing a bit of a preview of the discussion they will be having at RIMS2020 through a roundtable-style discussion about the advancement of women in the risk management profession!   Key Takeaways: [:01] About the RIMS Benchmark Survey and the RIMS Membership. [:51] About today’s special episode. [1:05] Justin reminds listeners that registration is open for RIMS 2020. [1:20] About today’s featured guests. [2:00] Justin welcomes the guests on to RIMScast! [2:08] What were Christy’s experiences as a young or new professional? What biases and challenges did she experience, and how did she overcome them? [4:14] Lori shares her own experiences as a young professional as well as the biases and challenges she has faced. [6:34] Deidre provides her own perspective on the challenges and biases she faced as a new/young professional. [8:04] About Deidre’s mother, Soraya Wright, who also sets a fantastic example for women in the industry. [8:32] Lori shares her perspective on the important aspects she keeps in mind when she takes on a leadership role within her company. [10:04] Christy asks Lori whether the perspective that she shared was formed partially because of movements (such as #MeToo) that get a lot of publicity in the media? [11:10] Christy also shares her perspective on what she keeps in mind when she takes on a leadership role in her company. [12:01] Does Deidre feel that there’s always going to be an expectation that women have to go above and beyond when they’re taking on a leadership role? [13:17] At what point, if ever, is Deidre’s perspective solely from that of a risk professional? [14:07] Lori and Christy give their perspectives on the same question. [15:20] Justin gives his thanks to all three guests and highlights some of the fantastic links that linked below in the show notes!   Mentioned in this Episode: RIMS 2020 (May 3rd–6th in Denver, CO) Upcoming RIMS Events RM Magazine Risk Management Monitor RIMS-Certified Risk Management Professional (RIMS-CRMP) New Feature: RIMS-CRMP Stories RIMS Membership — Discover why 10,000 of your peers from more than 60 countries are a part of the RIMS community! RIMS Benchmark Survey: Contribute your data by March 31 and receive the 2020 Survey for free! You’ll learn how much companies are paying per line of coverage and more. Visit RIMS.org/Benchmark. Download any episode of RIMScast. RIMScast Ep: “Women’s Day Special: Women in Risk Management” (Featuring Soroya Wright) For more related episodes about RIMS 2020, download: RIMScast Ep 73: “RIMS 2020 Education and Networking Opportunities” with Barry Mitchell and Stuart Ruff Lyon RIMScast Ep 72: “Risk in the Context of Music with Kai Kight” — Listen closely to this episode for a special discount code! RIMScast Ep 70: “Mindset Digital CEO Debra Jasper on Technology, Disruption, Social Media, and Communication” — Listen closely to this episode for a special discount code!   Want to Learn More? Keep up with the podcast on RIMS.org and listen on iTunes. Have a question or suggestion? Email: Content@rims.org.   Join the Conversation! Follow @RIMSorg on Facebook and Twitter, and join the RIMS Group on LinkedIn.   Follow up with Our Guests: Christy Kaufman’s LinkedIn Deidre Wright’s LinkedIn Lori Seidenberg’s LinkedIn

BlackRock Inc., the world's largest asset manager, recently announced it would be pulling out of its investments in certain parts of the coal sector. The move is part of a broader trend where banks, insurers and other parts of the finance world are pledging to stay away from fossil fuels to address concerns about climate change. Join us on Energy Evolution, where this month we check in on what is being said about the rising fossil fuel divestment trend and talk to activists, analysts and a representative of the largest coal company in the U.S. about what is going on and what may be next.

BlackRock Inc., the world's largest asset manager, recently announced it would be pulling out of its investments in certain parts of the coal sector. The move is part of a broader trend where banks, insurers and other parts of the finance world are pledging to stay away from fossil fuels to address concerns about climate change. Join us on Energy Evolution, where this month we check in on what is being said about the rising fossil fuel divestment trend and talk to activists, analysts and a representative of the largest coal company in the U.S. about what is going on and what may be next.

Morris Pearl is somewhat encouraged by all the talk about wealth taxes these days. The Patriotic Millionaires, which he chairs as a volunteer job, has “made a lot of progress in moving the needle” toward its argument for taxing the rich more and paying people more equitably. Pearl, who made his wealth initially at BlackRock Inc., talks with Bloomberg Tax’s Amanda Iacone about the wealth tax proposals, legislation to tax investment income at the same rate as earned income, the “ridiculous” carried interest tax benefit for fund managers, and more.

Want to start investing, but not sure how? Or maybe you are investing, but aren't completely sure if you're doing it right? You're in luck, because I've got the king of ETFs Som Seif on the show to discuss how to build wealth by investing in ETFs and following a few of important rules of thumb too. Long description: I hope you’re ready to get your investing knowledge on, because for this episode I’m joined by the king of ETFs Som Seif! To give you some background on Som in case you’re unfamiliar with his importance in the investing world, he is currently the founder and CEO of Purpose Investments Inc., which he formed after he sold his first company Claymore Investments to Blackrock Inc. in March 2012. You may be familiar with Blackrock as they offer a number of great ETFs you’re probably already invested in, and the same goes for Som’s new company Purpose Investments. Now, Som started his Claymore Investments in 2005 because although he had been an investment banker with RBC Capital Markets since 1999, he wanted to be able to really help individual investors by making low-cost ETFs more accessible. And he continues to do so with his new company Purpose Investments, and shares more helpful tips to investors of all ages in this episode. How Much You Should Invest If you’re just starting out, meaning you’ve recently finished school and are working full-time, Som suggests investing 15-20% of your net income. You’re at such a great stage in life where your cost of living is low (even if your salary is too), but the money you invest this early in life will have a huge, positive impact on your future. If you wait to invest later in life, then make sure to boost that percentage to hit your target end goal. How to Invest It’s great knowing how much to invest, but a better question is how to invest? Luckily there are some great options now with all the robo-advisors out there, which is one way Som suggests can be a great way to invest your money. He really does believe in robo-advisors since he was one of the founders of Wealthsimple, and believes in making investing in low-cost ETFs simple for every type of investor. Or, if you’d rather work with an investment advisor, you may need to have a greater some of money to do so, but it may be what you’re looking for in terms of getting specific guidance and management. Then again, you may want to be fully in control, which means you’ll want to go the self-directed route and pick your own portfolio and manage it using a discount brokerage. Don’t Be Scared off by Investing We dive into some deep subjects like crypto, blockchain and the future of investing, and honestly it was even intimidating to talk about with Som myself, but that’s something that Som wants to make sure doesn’t happen. Investing isn’t hard and you shouldn’t be scared off by new technologies and new strategies emerging. You need to arm yourself with information, because as you and I both know, the best way to rid yourself of fear and worry is to educate yourself. One way to do that is to follow his suggestion by reading books by Benjamin Graham to have a better foundational understanding of investing. 3 Key Things You Need to Do to Be a Smart Investor As Som mentioned, investing isn’t hard. Here are the 3 key things he suggests for any investor’s success: Build a portfolio of strong assets that perform well Keep costs low Stay diversified Start Investing Now The biggest take-away from this episode is that investing is incredibly important to take part in. It shouldn’t be something you delay until your 30s or 40s. The sooner you start investing in life, the better off you’ll be in the future. Moreover, you’ll also become more confident and feel more secure with your finances my having a solid plan for retirement and your other financial goals. So if you just got your first job out of school, make sure to invest some of that first paycheque. If you’re further along than that in your career, there’s no better time to start than today! For full episode show notes, visit https://jessicamoorhouse.com/176

We're pleased to welcome Kevin Baum and Justin Webb, cofounders of AgriWebb on this week's episode of Open The Pod Bay Doors.AgriWebb is Australia's market leader of software for livestock farmers, designed to “digitise the notebooks that sat in the top pockets of Australian farmers". The platform digitises record-keeping and takes audit and compliance data to help farmers make better decisions and improve productivity.Justin Webb and Kevin Baum, along with their other cofounder John Fargher started the business in 2014, with a mission to fundamentally transform global cattle and sheep production with their farm management software that delivers profitability, provenance and sustainability across the supply chain in the face of an impending global food crisis.Globally, AgriWebb is now used on 2800 farms, 1700 of which are in Australia, and is also expanding rapidly into the UK and Brazil. The company has grown to around 40 employees split between Australia & UK, and they've successfully raised over $21M in funding, most recently raising $14 million from the UK-based agriculture investment company Wheatsheaf Group.Kevin has extensive experience in entrepreneurship, technical program management and is an expert in technology commercialisation, having worked around the world to develop innovative research into scalable opportunities. Kevin is a winner of numerous entrepreneurship awards including: IEEE President’s Change the World Foundation Prize, The Skoll Venture Award and The GSVC Intel Innovation Prize. Kevin earned a BA from Stanford in Biology and his MBA (Dean’s List), as well as a MA in Environmental Science from Oxford University.Justin’s family history in livestock production inspired the concept and foundation of AgriWebb. A serial entrepreneur in financial management, Justin has founded, built and sold 3 quantitative Hedge Funds with successful exits to Macquarie Bank, Citadel & Westpac. Justin also founded PacWealth Capital; a $4Bn asset advisory firm in the South Pacific. He also served as a Director and Head of Retail Client Business, Private Banks & Alternative Investments for the ANZ franchise of BlackRock Inc. Justin earned an AB (honours) in Economics and Applied Mathematics from Harvard University and holds an MBA with distinction in asset management from Oxford University where he was on the Dean’s List and the OBA Scholar.This is a great discussion that touches a number of difficulties startups are likely to face: tackling international expansion and understanding global markets; managing teams on opposite sides of the globe; & allocating funds after raising capital.

Burt Flickinger, Managing Director at Strategic Resource Group, on Walmart earnings and outlook. Russ Koesterich, head of asset allocation for BlackRock Inc.’s global allocation team, on market outlook and how he is allocating assets. Richard Conn, Managing Partner of Eurasia Advisors, on impact of the Mueller indictments on US-Russia relations, and what response would be effective in dealing with Moscow.Chris Burniske, Partner at Placeholder and advisor to ARK Investment Management, on why Venezuela's petro is not a true cryptocurrency. 

Host Jonathan Ferro discussed U.K. polls, comments from ECB president Mario Draghi as well as BlackRock Inc.'s Larry Fink with Alastair McCaig, Director of Investment Management at Fern Wealth, and Richard Jones, FX and Rates Strategist at Bloomberg. In the second half of the show Jonathan Ferro spoke with Michael Regan, Senior Editor and Lead Blogger for Markets Live, and Dani Burger, Markets and Quants Reporter of Bloomberg, about Federal Reserve Governor Lael Brainard's comments about soft inflation and the hottest tech stocks.

(Bloomberg) -- Taking Stock with Kathleen Hays and Pimm Fox. GUEST: Deborah Winshel, Global Head of Impact Investing for BlackRock Inc., on their new Impact ETF, and why sustainable investing represents a growing portion of the investment universe.