Podcasts about China Construction Bank

Kia ora,Welcome to Tuesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news the IMF reckons the way the Aussie home loan market is structured accentuates mortgage rate pain.But first in the US, consumer inflation expectations for the year ahead remained steady at 3% for a third consecutive month in March, holding at three-year lows. For three years ahead they rose marginally to 2.9% whereas for five years ahead they slipped to 2.6%. None of these are 'bad' levels but they are not quite where the US Fed would like them to be.The actual current March US CPI inflation level will be revealed on Thursday, NZTNoticeable improvements recently in German industrial production, the US ISM PMI, and the Caixin factory PMI have combined to shift the expectations for the copper price sharply higher. It is now back to levels we last saw in May 2022, and first saw in November 2010. It is an upswing that has been unexpected.But the same is not true for steel prices. Excess Chinese production and export dumping has driven the cost of rebar down to 2017 levels. Their stuttering domestic construction industry is having world-wide impacts in this important corner of the steel industry. Iron ore prices are now at yearly lows too.In Hong Kong, a winding up order is being sought by its major lender for Shimao Group Holdings, just another Chinese property developer that has hit the debt wall. What is interesting about this is that the lender is China Construction Bank, one of China's four pillar banks and state-owned of course. Shimano has projects across much of China, but only one in Hong Kong. When Beijing turns against you, you are toast.In Australia, February new lending data shows that the number of loans issued for the purchase or construction of a new home over the past year is holding at its lowest level in more than 20 years. Values are up of course, but the number isn't.The IMF has released an analysis that shows Australian households are more sensitive to changes in interest rates than virtually any other consumers globally because of the combination of the dominance of variable-rate mortgages, high levels of household debt and lax lending rules. New Zealand is up there too, but not because of high variable-rate lendingThe UST 10yr yield is now at 4.42% and up +2 bps from yesterday. The price of gold will start today a little higher by +US$6 from this time yesterday at US$2335/oz and yet another all-time high.Oil prices have slipped -US$1 to just on US$85.50/bbl in the US while the international Brent price is now down a bit less at just under US$90/bbl.The Kiwi dollar starts today at just over 60.3 USc and up +20 bps from yesterday. Against the Aussie we are softer at 91.3 AUc. Against the euro we are fractionally firmer at 55.6 euro cents. That all means our TWI-5 starts today just on 69.3 and up slightly.The bitcoin price starts today firmer at US$71,715 and up +2.8% from this time yesterday. Volatility over the past 24 hours has been moderate at just on +/- 2.7%.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

US futures are pointing to a mostly flat as of 04:45 ET. European equity markets have opened higher, following mostly higher Asian markets. Bond weakness the big story on global markets with yields propelled higher by a hotter-than-expected US payrolls report. In overseas developments, Asian market participants are eyeing a potential FX intervention from Japanese authorities with USD/JPY pair close to 152, eyed as a potential red line.Companies Mentioned: Exxon Mobil, Shimao, China Construction Bank

Michael Gates is Associate Fellow of Saïd Business School and owner of Michael Gates CrossCulture. He is an internationally recognised teacher and writer on cross-cultural management and speaks regularly at large corporate and government events. At Saïd Business School, Michael is a regular contributor to the Oxford Programme on Negotiation. He has also taught on many custom programmes for organisations including China Construction Bank, Equinor, the European Patent Office and Bank of China. He is a regular contributor to open enrolment programmes at the Royal Swedish Technical University. He has provided cross-cultural training in more than 40 countries to corporations and organisations such as Nokia, the World Bank, Microsoft, Rolls-Royce, Statoil, the UN,Takeda, King, ByteDance (owner of TikTok), the EU and the Finnish and Swedish governments as part of their preparations for the EU presidency. Michael was previously with Richard Lewis Communications from 1990, first as Managing Director of the Finnish company and subsequently as Nordic Regional Director. He was appointed Group Managing Director in 2000 and Vice Chairman in 2012. He previously worked for Linguarama in Finland, and prior to that, as production assistant and producer at Piccadilly Radio in Manchester, with many presenters who went on to become household names in the United Kingdom, including Chris Evans, Timmy Mallett, Nick Robinson and Brian Cox. In 1997 Michael came up with and implemented a concept for the world's first online cross-cultural assessment and cultural data resource, CultureActive. It currently has a database of over 100,000 users. He has been published in dozens of newspapers and magazines on cross-cultural matters, including the Daily Telegraph, La Tribune, People Management and the HR Director. Michael has also contributed chapters to books published in the United Kingdom, Finland, Denmark and India. In 2002 he received the Most Innovative Technology Award for CultureActive at the US Center for International Business and Education conference, hosted by Duke Fuqua Business School and the University of North Carolina. Two recent programmes he worked on for Video Arts, on remote teams and cross-cultural teams, both won awards from World Media Festivals – the latter getting the Grand Award for best training video overall. Michael has an MA in English Language and Literature from St Catherine's College, Oxford. He was awarded a college scholarship for being placed in the First Class in Honour Moderations. Article on DEI and Cross-Culture: https://www.linkedin.com/in/michaelgatescrossculture/recent-activity/posts/ Anglo-Saxon pragmatism v French Cartesian logic: https://www.sbs.ox.ac.uk/oxford-answers/negotiating-brexit-cultural-perspective

Аналитика по банкам https://clck.ru/34grtQ Запасаемся попкорном и снова наблюдаем за противостоянием «Сбера» и ВТБ! Прозрачные отчеты, мощные дивиденды и растущая цена акций у одного... И ничего похожего у другого. Зато как будто супердешево и может мощно отрасти. И что же выбрать инвестору? В новых «Итогах недели» прицельно смотрим на банковский сектор в России, Китае и США, в этом поможет аналитик «Финама» по финсектору Игорь Додонов. А еще поговорим о курсе рубля, инфляции и совсем чуть-чуть о дефолте. Приятного просмотра! Аналитика по банкам https://clck.ru/34grtQ Предыдущие «ИТОГИ» здесь https://www.youtube.com/watch?v=py380eeKjH4&t=6s

China Construction Bank is expanding its global capacity to cater to its precious metals and bulk commodity trading clients. A call for international silver market reform has been made in China, highlighting the excessive leverage used to suppress gold and silver prices. China's consistent purchase of gold bullion is emphasized, suggesting it as a safer investment compared to cryptocurrencies amid potential fraudulent practices in the crypto market.

Join Ryan J Melton as he sits down with Auckland's esteemed Commercial Finance Adviser, Andrew Chambers, on another captivating episode of NZ Business Owners. Andrew, the co-founder of Eightfold Financial Services, brings a wealth of knowledge and experience from his extensive career in the banking and mortgage industries. With a remarkable 19-year tenure at ANZ, Andrew's expertise spans various sectors, including migrant banking, corporate banking, and commercial banking. Notably, he played a pivotal role in establishing ANZ's commercial presence in American Samoa and led the development of the commercial Asian business team in New Zealand. His contributions extended to formulating a nationwide strategy for the food and beverage industry within ANZ. Additionally, Andrew served as the Head of Commercial for China Construction Bank, further expanding his international experience. Armed with a Post Graduate Banking Certificate from the esteemed Pacific Coast Banking School at the University of Washington, and a Diploma in Advertising from Auckland University of Technology, Andrew possesses a unique blend of financial acumen and strategic thinking. During this insightful episode, Andrew opens up about his passion for adding value to people's lives through his expertise. He shares how he utilizes the strategies he's acquired throughout his career to help others overcome their financial challenges. From privately owned businesses to government entities, Andrew has worked with diverse clients, leveraging collaboration to find optimal solutions to their money issues. Tune in to discover Andrew's unique approach to financial problem-solving and his unwavering belief in the power of collaboration. Through engaging anecdotes and real-life examples, Andrew showcases how he empowers business owners and individuals, providing them with the confidence to realize their dreams and aspirations. Whether you're a seasoned entrepreneur or just starting out, this episode will equip you with valuable insights to navigate the complex world of finance and unlock your full potential. Don't miss this captivating conversation between Ryan J Melton and Andrew Chambers, as they delve into the heart of financial success and the gratifying privilege of helping others thrive in the business world. https://eightfold.co.nz/about-us/andrew-chambers/

Zu Gast bei der Geldmeisterin ist Friedrich Mostböck, der meint, jetzt sei es an der Zeit mehr ins Risiko, also in Aktien zu gehen. Bei Anleihen werde man noch Renditesteigerungen sehen, das heißt also, wer sich jetzt schon Bonds kauft muss Kursverluste in Kauf nehmen. Bei den internationalen Bluechips setzt er auf die großen Werte. Österreich-Aktien kommen da schon aufgrund ihrer bescheidenen Größe nicht vor. Zu den Empfehlungen seines Teams gibt es einen eigenen investierbaren Fonds: ERSTE EQUITY RESEARCH - Factsheet (erste-am.at) Spannend ist die dazugehörige Globale Aktien-Empfehlungsliste, aus der der Fonds aussuchen kann: download (erste-group.com) . Auffällig ist hier, dass die chinesischen Aushängeschilder Alibaba, China Construction Bank und Tencent von „halten“ auf „verkaufen“ herabgestuft wurden. Fritz Mostböck findet derzeit aber durchaus auch österreichische Aktien, die sehr günstig bewertet sind für attraktiv. Denn es war bisher immer so, dass sich so kleine Finanzplätze wie Wien nach einem Bärenmarkt dann auch am spektakulärsten wieder erholten. Hier würde er einerseits auf österreichische Global Nischenplayer wie Andritz oder AT& S setzen, andererseits auf Aktien wie die VIG, die vom Aufschwung Ost profitieren. Das Interview in voller Länge in der aktuellen Folge der GELDMEISTERIN, überall wo es Podcast gibt. Eine erfolgreiche Anlagewoche wünscht GELDMEISTERIN-Podcasthost Julia Kistner. Und wenn Euch diese 102. Folge der GELDMEISTERIN gefallen hat würde ich mich freuen, wenn Ihr sie auf einer Podcastplattform Eurer Wahl, auf YouTube oder Spotify liken oder kommentieren, bzw. den Podcast gratis abonnieren würdet. Damit würdet ihr meine Reichweite unterstützen. Vielen herzlichen Dank dafür! Rechtlicher Hinweis: Das sind keinesfalls Empfehlungen, sondern nur meine persönlichen Gedanken. Die Autorin übernimmt keinerlei Haftung die daraus erwächst, dass man entsprechend Ihrer Medienbeiträge Investments tätigt. Musik- & Soundrechte: https://www.geldmeisterin.com/index.php/musik-und-soundrechte/ #Anlegen #Anleihen #Investment #Aktien #FriedrichMostböck #Erstegroup #Fonds #Aktien #Kapitalmärkte #Zinsen #Portfolio #Treasury #GELDMEISTERIN #Zinsanstieg #fixedIncome #USA #Renditen #investieren #Rendite '#Risiko #Bond Foto: Erste Group/Daniel Hinterramskogler --- Send in a voice message: https://anchor.fm/geldmeisterin/message

APAC stocks traded mostly positive following the strong lead from the US which was spurred by Ukraine/Russia optimism. A western official said they haven't seen anything so far that has demonstrated Russia is particularly serious about peace talks.The DXY remains subdued following yesterday's declines, USD/JPY has continued to fade recent gains. European equity futures are indicative of a softer open with the Euro Stoxx 50 future down 0.4% after the cash market closed higher by 3.0% yesterday.Looking ahead, highlights include German CPI Prelim, US ADP & GDP (Final/Q4), Speeches from Fed's Barkin, Bostic & George, ECB's Lagarde, BoE's Broadbent, Supply from Italy.US TRADEUS stocks finished positive with risk appetite spurred by optimism post-Russia/Ukraine talks and after Russia suggested it would be withdrawing some troops, while both sides alluded to prospects of a Putin-Zelensky meeting.S&P 500 +1.2% at 4,633, Nasdaq 100 +1.7% at 15,239, Dow Jones +1.0% at 35,294, Russell 2000 +2.7% at 2,133.NOTABLE US HEADLINESFed's Bullard (2022 voter, 50bp dissenter) reiterated that he favours raising the FFR to 3% by year-end and is in favour of implementing a plan to quickly reduce the size of the Fed's balance sheet, while he added the extent and pace of these actions can be adjusted if macroeconomic conditions evolve differently than what they expect, according to the St Louis Fed.Fed's Harker (temp voter) said the Fed 'collectively underestimated' impact fiscal spending would have on inflation and he would not take a 50bps rate hike off the table for the next meeting but is not committing to it either. Harker stated that developments in China is "another wrench" in the supply chain and could make a 50bps hike more likely appropriate, while he noted a balance sheet reduction could add the equivalent of two quarter-point rate increases and that they can move methodically to a neutral rate of around 2.5% then assess what more may be required, according to Reuters.Fed's Bostic (2024 voter) said the Ukraine war is impacting inflation and increases uncertainty which is a risk for demand. Bostic stated the Fed is withdrawing policy support to allow the economy to stand on its own but added it could harm the economy if the Fed moves too quickly, while he reiterated that he favours six hikes for 2022.US Senate voted to move the Fed nomination of Lisa Cook forward to a confirmation vote. (Newswires)GEOPOLITICSRUSSIA-UKRAINENEGOTIATIONS/TALKSUkrainian President Zelenskiy said signals from Russia talks could be called positive but do not drown out the explosions of Russian shells and they see no reason to trust words from "certain representatives of a power that continues to fight for our destruction". Zelensky also said they are not reducing defensive efforts as the Russian army still has significant potential to carry out attacks, according to Reuters.US President Biden said "we'll see" about Russia's de-escalation statement and will have to see if Russia follows through but the US will continue to keep strong sanctions and help the Ukraine military, according to Reuters.French President Macron discussed the Ukraine situation with Russian President Putin in a phone call and Macron told Putin paying gas contracts in Roubles was not possible, according to a French Presidency official. Furthermore, Macron brought up the topic of carrying out a humanitarian mission for Mariupol with Putin although conditions are not in place for now and Russia's position on a humanitarian mission for Mariupol remains tough but Putin told Macron he would think about it, according to Reuters.DEFENCE/MILITARYUS Department of Defense confirmed there has been some movement by small amounts of Russian forces away from Kyiv but reiterated this is repositioning and not a withdrawal, while it added that Russia is spinning a lack of progress as the next steps and the threat to Kyiv isn't over despite Russian talk. Furthermore, it stated that Russian President Putin's goals still stretch beyond the Donbass and that a small number of Russian troops leaving Kyiv are moving north for now and are to be used elsewhere in Ukraine, according to Reuters.US official said the US believes any movement of Russian forces from around Kyiv is a "redeployment, not a withdrawal" and said the world should be prepared for a continuation of major offensives in other areas in Ukraine as Russia is shifting gears, according to Reuters.A western official said they haven't seen anything so far that has demonstrated Russia is particularly serious about peace talks and seems to be more of a tactical exercise to play for time, according to Reuters.US is mulling sending another USD 500mln of humanitarian aid to Ukraine which could be used for military purposes, according to Bloomberg.ENERGY/ECONOMIC SANCTIONSWhite House said they will continue to intensify sanctions on Russia and they are not going to run out of options anytime soon, according to Reuters.Russia is studying the possibility of importing equipment for the fuel and energy complex through friendly countries, according to Interfax.FUND/SOVEREIGN/OTHER NEWSUS State Department warned that Moscow may detain Americans in Russia, while it issued a Level 4 travel advisory for Ukraine and stated 'do not travel' to Ukraine, according to AFP.Russian grain exporters reportedly may request payment in Roubles, according to Kommersant.OTHERSaudi-led coalition announced it is halting military operations in Yemen for the month of Ramadan to help negotiations succeed, with operations halted from this Wednesday, according to the Saudi state news agency.APAC TRADEEQUITIESAPAC stocks traded mostly positive amid optimism from Russia-Ukraine talks in which negotiators discussed a ceasefire and with Russia to scale down military activity in Kyiv and Chernihiv, although the US was unconvinced.ASX 200 gained on continued tech strength and with consumer stocks helped on Budget support measures.Nikkei 225 fell beneath the 28,000 level after weaker than expected Retail Sales and as the Yen nursed losses.Hang Seng and Shanghai Comp. were underpinned after continued PBoC liquidity efforts and amid a deluge of earnings including from large banks in which Bank of China and China Construction Bank both topped estimates.US equity futures took a breather following yesterday's advances.European equity futures are indicative of a softer open with the Euro Stoxx 50 future down 0.4% after the cash market closed higher by 3.0% yesterday.FXDXY remained subdued after the prior day's retreat beneath the 99.00 level as yields eased and with risk sentiment underpinned by hopes surrounding the Russia-Ukraine talks.EUR/USD strengthened above 1.1100 amid hopes of a de-escalation in Ukraine.GBP/USD lacked direction after yesterday's choppy mood with the pair stuck around the 1.3100 level.USD/JPY continued to fade recent advances with the pair slipping to a low of 121.31 overnight vs. 125.10 on Monday.Antipodeans benefitted from the risk tone with NZD outperforming on cross-related flows and encouraging data which showed an improvement in Building Permits and Business Activity Outlook.SNB's Vice Chair Zurbruegg said vulnerabilities have increased in the swiss real estate market and Swiss apartments are overvalued by 10-35%, while the SNB will monitor developments in the real estate market, according to Reuters.FIXED INCOME10yr USTs extended on the prior day's gains as yields eased and with the recent declines in oil prices helping alleviate some of the inflationary concerns. 2s10s inverted (briefly) for the first time since 2019, whilst a mixed 7yr auction had little follow-throughBunds continued to recoup recent losses to test the 158.00 level to the upside.10yr JGBs were underpinned after the BoJ boosted today's regular buying operations for various maturities and conducted a special operation for unlimited JGBs, while it later announced emergency purchases to cap yields.COMMODITIESWTI and Brent nursed the losses from yesterday's intraday drop after Ukraine/Russia optimism weighed heavily on oil, with prices well of their lows amid skepticism from the US on Russia scaling down operations.US Energy Inventory Data (bbls): Crude -3.0mln (exp. -1.0mln), Gasoline -1.4mln (exp. -1.7mln), Distillate -0.2 (exp. -1.6mln), Cushing -1.1mln.US House Energy and Commerce Committee is to hold a hearing next week with six oil company executives regarding rising gas prices, according to Reuters.Spot gold traded sideways and only marginally benefitted from the weaker greenback.Copper was higher amid the constructive risk tone.CRYPTOBitcoin was choppy overnight with prices relatively flat heading into the European morning.NOTABLE APAC HEADLINESPBoC injected CNY 150bln via 7-day reverse repos with the rate at 2.10% for a CNY 130bln net injection.PBoC set USD/CNY mid-point at 6.3566 vs exp. 6.3478 (prev. 6.3640)Chinese city of Xuzhou has declared a three-day lockdown from WednesdayBoJ Governor Kuroda said he discussed a post-COVID global economy, Russia and Ukraine with PM Kishida, as well as talked about the economy and financial markets in Japan and abroad with the PM. Kuroda told Kishida FX moves should reflect economic fundamentals but they did not discuss anything in particular on FX and don't think that a monetary adjustment would have a direct impact on currencies. Furthermore, Kuroda said the yen is weakening but is driven partly by buying the dollar for energy imports and with higher US rates also a factor.BoJ announced to buy JPY 600bln in 3yr-5yr JGBs, JPY 725bln in 5yr-10yr JGBs, JPY 150bln in 10yr-25yr JGBs, JPY 100bln in 25yr+ JGBs and JPY 60bln in inflation-indexed JGBs, while it also offered to buy an unlimited amount of 10yr JGBs at a fixed rate of 0.25%. The BoJ later announced an emergency operation to buy JPY 500bln in 5yr-10yr JGBs, JPY 100bln in 10yr-25yr JGBs and JPY 50bln in 25yr+ JGBs, according to Reuters.DATA RECAPJapanese Retail Sales YY (Feb) -0.8% vs. Exp. -0.3% (Prev. 1.6%, Rev. 1.1%)New Zealand Building Consents (Feb) 10.5% (Prev. -9.2%, Rev. -8.7%)New Zealand NBNZ Business Outlook* (Mar) -41.9% (Prev. -51.8%)New Zealand NBNZ Own Activity* (Mar) 3.3% (Prev. -2.2%)EUROPENOTABLE EUROPEAN HEADLINESUK ministers are reportedly mulling a fourth delay of the introduction of full checks on imports from the EU in a move to tackle trade friction and the cost of living crisis, according to FT citing officials briefed on talks.DATA RECAPUK BRC Shop Price Index YY (Mar) 2.1% (Prev. 1.8%)

European equities (Eurostoxx 55 -0.9%) trade on the backfoot as markets digest the reaction to yesterday's peace talks. Regional CPIs from Germany have seen notable jumps from priors on a M/M and Y/Y basis ahead of the mainland metric at 13:00BST/08:00EDT.The DXY has slipped below the 98.00 mark, EUR/USD has gained a firmer footing above 1.11, JPY leads in G10 FX.US equity futures are indicative of a softer open with the ES -0.4% after the S&P closed higher by 1.2% yesterday.Looking ahead, highlights include German CPI Prelim., US ADP & GDP (Final/Q4), Speeches from Fed's Barkin, Bostic & George.GEOPOLITICSRUSSIA-UKRAINENEGOTIATIONS/TALKSUkrainian President Zelenskiy said they are not reducing defensive efforts as the Russian army still has significant potential to carry out attacks, according to Reuters.Ukraine Deputy PM says three humanitarian corridors have been agreed for evacuations on Wednesday; said Ukraine had requested 97 corridors to be opened in the worst-hit areas. Ukraine Forces warn of danger of Russian ammunition exploding at Chernobyl.Ukraine Presidential Adviser says on negotiations, Ukraine has improved its position in all respects.Russian Kremlin says Ukraine has begun to put demands down on paper and be more specific which is a positive thing. Not seen anything really promising that looks like a breakthrough, there is a lot of work ahead.DEFENCE/MILITARYGovernor of Donestsk region says situation is difficult, shelling is continuing in nearly all cities around the demarcation line.ENERGY/ECONOMIC SANCTIONS & UPDATESGermany declares "Early Warning" stage of gas supply emergency to prepare for possible escalation by Russia; Economy Minister says no current gas supply shortages, gas supplies are safeguarded at the moment. Will not accept any gas contract breaches by Russia. German gas storage is at around 25% capacity - says key question is how full gas capacities will be in the Autumn. EU countries must deal with gas supply issues together.US State Department warned that Moscow may detain Americans in Russia, while it issued a Level 4 travel advisory for Ukraine and stated 'do not travel' to Ukraine, according to AFP.Russian grain exporters reportedly may request payment in Roubles, according to Kommersant.Russian Kremlin says that the idea from lawmakers of asking other nations to pay for a wide range of Russian exports in RUB should be worked on. Will not immediately demand a switch to gas payments in RUB. Changes will be gradual.OTHERSaudi-led coalition announced it is halting military operations in Yemen for the month of Ramadan to help negotiations succeed, with operations halted from this Wednesday, according to the Saudi state news agency.China confirms China-EU summit to take place virtually on April 1st; President Xi and Premier Li will attendEUROPEAN TRADEEQUITIESAPAC stocks traded mostly positive following the strong handover from the US. Nikkei 225 was pressured by weaker than expected Retail Sales and as the Yen nursed losses. Hang Seng and Shanghai Comp. were underpinned after continued PBoC liquidity efforts and a deluge of earnings.European equities (Eurostoxx 50 -0.8%) are mostly lower as optimism from Ukraine/Russia updates yesterday fades and inflation concerns were further bolstered by regional German CPIs. FTSE 100 (+0.1%) remains afloat following gains in Energy and Basic Resources names.Click here for more detail.FXYen repatriation offsets BoJ yield intervention to keep recovery intact - Usd/Jpy extends sharp retreat to circa 121.31 from 125.10 on Monday.Euro inflated by significantly stronger than expected preliminary CPI prints and further EGB/UST yield convergence - Eur/Usd takes out recent peak and probes Fib retracement in decent option expiry zone before fading around 1.1160.Kiwi rebounds on strong building approvals and improvements in NBNZ survey readings - Nzd/Usd firmly above 0.6950 and Aud/Nzd back under 1.0800.Dollar drifts ahead of ADP and more Fed commentary, with DXY under 98.000.Click here for more detail.Notable FX Expiries, NY Cut:EUR/USD: 1.1000 (2.44BN), 1.1050-60 (1.8BN), 1.1100 (2.17BN), 1.1150-55 (1.36BN), 1.1195-00 (1.64BN)USD/JPY: 122.00-05 (690M), 122.50 (250M), 122.90-00 (1.0BN)Click here for more detail.FIXED INCOMEHot inflation readings undermine EZ bonds and prompt more convergence vs Treasuries and GiltsBoJ steps up defence of YCC via scheduled and unplanned JGB purchases.UST curve tips after mixed 7 year auction ahead of ADP as a proxy for NFP.Click here for more detail.COMMODITIESWTI and Brent have continued to pare back some of the aggressive selling pressure seen during yesterday's session.From a technical standpoint, May'22 WTI has made it back up to USD 107.30 vs. yesterday's peak of USD 107.84, whilst June'22 Brent sits at 113.05 vs. yesterday's peak of USD 114.83.US Energy Inventory Data (bbls): Crude -3.0mln (exp. -1.0mln), Gasoline -1.4mln (exp. -1.7mln), Distillate -0.2 (exp. -1.6mln), Cushing -1.1mln.US House Energy and Commerce Committee is to hold a hearing next week with six oil company executives regarding rising gas prices, according to Reuters.Germany declares "Early Warning" stage of gas supply emergency to prepare for possible escalation by Russia; says no current gas supply shortages.India is to increase natural gas prices for April-Sept to USD 6.10/mmbtu from USD 2.90mmbtu currently, according to Reuters sources.Spot gold traded sideways and only marginally benefitted from the weaker greenback.Click here for more detail.NOTABLE EUROPEAN HEADLINESECB's Lagarde says in the short-term will face higher inflation and slower growth. The longer the war goes on, the higher the economic costs will be. Incoming data supports inflation outlook and will conclude APP in Q3.ECB's Kazimir says that unless their is a dramatic escalation in the conflict in Ukraine, first rate increase might come towards the end of 2022.ECB's Muller says that APP could cease in Q3 and a rate hike could come after that.BoE Deputy Governor Broadbent says that it is doubtful whether the UK has experienced an external hit to real national income on this scale. In the near term in the difficult combination of even higher inflation but weaker domestic demand and output growth.DATA RECAPUK BRC Shop Price Index YY (Mar) 2.1% (Prev. 1.8%)EU Consumer Confid. Final (Mar) -18.7 vs. Exp. -18.7 (Prev. -18.7)EU Cons Infl Expec (Mar) 59.8 (Prev. 37.7)EU Selling Price Expec (Mar) 58.1 (Prev. 49.8)Spanish HICP Flash YY (Mar) 9.8% vs. Exp. 8.1% (Prev. 7.6%)Regional CPIs from Germany have seen notable jumps from priors on a M/M and Y/Y basis ahead of the mainland metric at 13:00BST/08:00EDT.NOTABLE US HEADLINES:Fed's Bostic (2024 voter) said the Ukraine war is impacting inflation and increases uncertainty which is a risk for demand. Bostic stated the Fed is withdrawing policy support to allow the economy to stand on its own but added it could harm the economy if the Fed moves too quickly, while he reiterated that he favours six hikes for 2022.Click here for the US Early Morning NoteCRYPTOBitcoin is modestly softer but holding on to USD 47k status.APAC TRADEEQUITIESAPAC stocks traded mostly positive amid optimism from Russia-Ukraine talks in which negotiators discussed a ceasefire and with Russia to scale down military activity in Kyiv and Chernihiv, although the US was unconvinced.ASX 200 gained on continued tech strength and with consumer stocks helped on Budget support measures.Nikkei 225 fell beneath the 28,000 level after weaker than expected Retail Sales and as the Yen nursed losses.Hang Seng and Shanghai Comp. were underpinned after continued PBoC liquidity efforts and amid a deluge of earnings including from large banks in which Bank of China and China Construction Bank both topped estimates.NOTABLE APAC HEADLINESPBoC injected CNY 150bln via 7-day reverse repos with the rate at 2.10% for a CNY 130bln net injection.PBoC set USD/CNY mid-point at 6.3566 vs exp. 6.3478 (prev. 6.3640)Chinese city of Xuzhou has declared a three-day lockdown from WednesdayBoJ Governor Kuroda said he discussed a post-COVID global economy, Russia and Ukraine with PM Kishida, as well as talked about the economy and financial markets in Japan and abroad with the PM. Kuroda told Kishida FX moves should reflect economic fundamentals but they did not discuss anything in particular on FX and don't think that a monetary adjustment would have a direct impact on currencies. Furthermore, Kuroda said the yen is weakening but is driven partly by buying the dollar for energy imports and with higher US rates also a factor.BoJ announced to buy JPY 600bln in 3yr-5yr JGBs, JPY 725bln in 5yr-10yr JGBs, JPY 150bln in 10yr-25yr JGBs, JPY 100bln in 25yr+ JGBs and JPY 60bln in inflation-indexed JGBs, while it also offered to buy an unlimited amount of 10yr JGBs at a fixed rate of 0.25%. The BoJ later announced an emergency operation to buy JPY 500bln in 5yr-10yr JGBs, JPY 100bln in 10yr-25yr JGBs and JPY 50bln in 25yr+ JGBs, according to Reuters.Japan former currency diplomat Shinohara says yen decline reflects economic fundamentals to some extent, moves not very fast; meaningless for Tokyo to conduct yen-buying intervention; intervention will not have lasting effect in reversing weak yen.DATA RECAPJapanese Retail Sales YY (Feb) -0.8% vs. Exp. -0.3% (Prev. 1.6%, Rev. 1.1%)New Zealand Building Consents (Feb) 10.5% (Prev. -9.2%, Rev. -8.7%)New Zealand NBNZ Business Outlook* (Mar) -41.9% (Prev. -51.8%)New Zealand NBNZ Own Activity* (Mar) 3.3% (Prev. -2.2%)

Die Aktien im asiatisch-pazifischen Raum stiegen, nachdem die Ölpreise über Nacht eingebrochen waren. Der Bitcoin übersprang unterdessen ein wichtiges Niveau, und der Yen gab weiter nach.Der Dow Jones Industrial schloss mit einem Plus von 0,3 Prozent auf 34 956 Punkten. Der S&P 500 beendete den Handel auf Tageshoch mit plus 0,7 Prozent auf 4576 Zählern. Der technologielastige Nasdaq 100 baute seine Gewinne aus und schloss 1,6 Prozent höher auf 14 987 Punkten.Für den Leitindex blieb ein Plus von 0,8 Prozent auf 14 418 Punkte übrig. Der MDax der mittelgroßen Unternehmen behauptete einen Kurszuwachs von 0,2 Prozent auf 31 236 Punkte. Heute wird der Leitindex im Plus bei 14 617 Punkten erwartet.Heute werden die deutschen Importpreise und das GfK Konsumklima gemeldet. Hier wird ein Rückgang von -8,1 auf -12,0 Punkte erwartet.In den USA werden der Immobilienpreisindex und der S&P/Case-Shiller Hauspreisindex bekannt gegeben.Geschäftszahlen kommen von Porsche, Aroundtown, Cancom, Adesso, Encavis, FlatexDegiro, Jenoptik, Nordex, Pfeiffer Vacuum, Wacker Neuson, China Construction Bank, Micron Technology und PVH.Support the show (https://www.patreon.com/kommponisten)

Nach einem eher mager ausgefallenem Dividendenjahr 2020 und anhaltender Omikron-Unsicherheiten wirkt 2021 vielversprechend: Wer die weltweit spendabelsten Auszahler sind. Dax-Unternehmen haben trotz mehrerer Lockdowns, Chipmangel und hohen Inflationsraten noch nie so viel Gewinn erwirtschaftet wie in diesem Jahr. Jetzt können sich Anlegerinnen und Anleger nach einem enttäuschenden Dividendenjahr 2020 wieder auf mehr Ausschüttungen freuen. Doch vor allem im internationalen Vergleich mit den USA gilt Deutschlands Dividenden-Auszahlungskultur nicht unbedingt als die spendabelste. In dieser Folge Handelsblatt Today blickt Aktienanalyst Ulf Sommer deshalb auf den gesamten Markt: Wer sind die weltweit größten Dividendenzahler? Welche Branchen legen in diesem Jahr einen besonderen Fokus auf Ausschüttungen und warum schütten Dax-Konzerne so verhältnismäßig wenig aus? Wenn Sie Anmerkungen, Fragen, Kritik oder Lob zu dieser Folge haben, schreiben Sie uns gerne per Email an today@handelsblatt.com. *** Das exklusive Abo-Angebot für Sie als Handelsblatt Today-Hörerinnen und Hörer: https://www.handelsblatt.com/lesen

Solvvy Website: http://solvvy.com Twitter: http://twitter.com/solvvyinc Facebook: http://facebook.com/solvvy Linkedin: https://www.linkedin.com/company/solvvy Mahesh Ram Twitter: https://twitter.comrammahesh Linkedin: https://linkedin.com/rammahesh Leading Change with Adam Christie Instagram: https://instagram.com/thepodcastleadingchange Twitter: https://twitter.com/PodcastLeading Facebook: https://facebook.com/thepodcastleadingchange Youtube: https://youtube.com/channel/UCHmMP9MSsYkZPqG8p5UhrIA Mahesh Ram is a serial SaaS entrepreneur and founder. He is currently Founding CEO of Solvvy, which applies advanced AI, machine learning science, and natural language processing technology to create business applications that deliver a superior customer experience. Co-founded with 2 acclaimed Carnegie-Mellon University PhD's, Solvvy is backedby top-tier investors including True Ventures, PejmanMar Ventures, Signatures Capital, CMU and others. Mahesh was the former Chief Executive Officer of GlobalEnglish Corporation, acquired by Pearson PLC for over $100M in 2012. GlobalEnglish, (now Pearson English Business Solutions), was the global leader in providing a cloud-based, SaaS platform solution for improving Business English communications at the world's leading global companies. GlobalEnglish customers include over 650 of the world's largest companies including IBM, P&G, HP, Pfizer, China Construction Bank, Saudi Aramco, etc. As CEO, Mahesh has led GlobalEnglish to record revenues and continuous profitability while dramatically expanding the Company's product offerings to its customers via mobile and social platforms. In 2012, Mahesh led the Company through a successful acquisition by Pearson PLC (UK:PSON), the world's largest education and publishing company. Prior to the acquisition, Mahesh also served as a member of the GlobalEnglish Board of Directors. Prior to becoming CEO at GlobalEnglish, Mahesh served in a unique array of roles, including CTO, SVP of Global Sales, and Head of Product Development in Fortune 500 companies including the Thomson Corporation (now ThomsonReuters) and CCH-LIS, a leading subsidiary of the Wolters Kluwer professional publishing conglomerate. --- Support this podcast: https://podcasters.spotify.com/pod/show/adam-christie0/support

In May, BlackRock CCB Wealth Management became the second foreign-controlled wealth management joint-venture to be granted an operating license by the Chinese government. The JV is majority-owned by the world's biggest asset manager BlackRock with 50.1% stake, while China Construction Bank and Singapore state investor Temasek own 40% and 9.9% respectively. Josh Zhang discusses the development of China's nascent bank wealth management industry, the key provisions of newly introduced wealth management sales and distribution rules, and the Greater Bay Area Wealth Connect scheme. Josh Zhang is managing director and head of internal control at BlackRock CCB Wealth Management based in Shanghai. Find the full transcript of the interview here. The China Law Podcast is a weekly podcast exploring China's business and financial sectors from a legal perspective. Get in touch at vchow@alm.com with any feedback and ideas for future episodes. Episode Outline 03:33 Advantages of bank wealth management companies compared to other types 06:19 Permitted investment scope of Greater Bay Area Wealth Management Connect 08:40 Enhanced due diligence requirements on product distributors 11:33 Senior management responsibilities and termination requirements Related Content In-House Insights: China's Second Foreign-Controlled Wealth Management Company Taking China's Asset Management to the Next Level

Sind wir Investoren nicht alle ein bisschen scheinheilig? Da fährt etwa Joe Biden alle möglichen politischen Geschütze gegen China auf, lässt untersuchen, ob Covid nicht doch im Labor von Wuan gezüchtet wurde. Währenddessen positionieren sich westliche Investoren auf den chinesischen Kapitalmärkten, wo es im nächsten Jahrzehnt viel zu holen gibt. Anleihen-Experten schwören auf die chinesischen Bondmärkte, die sich gerade öffnen. Goldman Sachs gründet eine Vermögensverwaltung mit der staatlichen Chinesischen Handels- und Regierungsbank und erhofft sich einen Zugang zu den Spareinlagen von hunderten Millionen Chinesen. Black Rock kooperiert mit der China Construction Bank so der Economist. JP Morgan Asset Management investiert 415 Millionen Dollar in die China Merchant Bank. Auch die europäischen Fondshäuser Amundi und Schroders und japanische Investmenthäuser bringen sich in Stellung. Geld regiert die chinesische Welt! Viel Anlageerfolg wünscht Julia Kistner Disclaimer: Alles Gesagte ist nur die persönliche Meinung von Julia Kistner und daher keine Anlageempfehlung und keine Rechts- noch Steuerberatung. Für Verluste, die aufgrund von getroffenen Aussagen entstehen, übernimmt die Autorin, Julia Kistner keine Haftung. Musikrechte: https://mixkit.co/free-sound-effects (racing-countdown-timer, percussion-tick-tock-timer)

Listen to this episode on iTunes What was your biggest insight from this week's episode? Let Jay know in the […]

In today’s episode: The $3 billion bond listing had sparked speculation China Construction Bank could dabble in bitcoin trading; Huawei will sell Honor, its budget smartphone brand to a state-backed consortium; and government economist says China should set itself 5% growth target for the coming five years. SPECIAL OFFER: Great News! Caixin Podcast listeners can now enjoy a 7-day complimentary access pass to caixinglobal.com and Caixin app. This is a limited-time offer. Get your pass by heading to: https://www.caixinglobal.com/institutional-activity/?code=J3XVJC  

There has been ongoing speculation on whether China has played any part in the ongoing protests and riots that have swept across the United States. The Daily Signal reported that the website for Black Futures Lab, which is a venture of BLM founder Alicia Garza, has ties to a pro-Chinese government organization. If you go to the organization’s website and click the donate button, it shows that the money goes to an organization called the Chinese Progressive Association, and the page notes that “Black Futures Lab is a fiscally sponsored project of the Chinese Progressive Association.” We'll be taking an in-depth look at this. And on August 29, people in China began to report that one of the four major state-owned banks in China, the China Construction Bank, quietly released a digital yuan wallet service for its app, and then quickly disabled the feature after it gained widespread attention. There has been speculation in China on why this happened, and some took it as a sign that the Chinese economy has a bottleneck. We'll look into what may really be behind the digital yuan launch. These stories and more in this episode of Crossroads. ⭕️ Subscribe for updates : http://bit.ly/CrossroadsYT ⭕️ Donate to support our work: https://www.bestgift.tv/crossroads ⭕️ Join Patreon to Support Crossroads: https://www.patreon.com/Crossroads_Josh

Driving cultural change in Latin America, Gabriela Gutierrez of Chile-based extractive company Grupo CAP talks to LRN's Ben DiPietro about her 20-year career in ethics and compliance in Latin America, and the unique challenges that come with working in the region. PULL QUOTE: “A good way to incentivize cultural change is by bringing all employees and collaborators under one message of why a culture of compliance is important, and that employees feel they and their company will be at an advantage if they reveal an issue than if they do not.” - Gabriela Gutierrez Gabriela Gutierrez is the chief compliance officer for Grupo CAP, a Chile-based holding company with interests in mining, steel, and extractive resources. She is responsible for the establishment of standards, and the implementation of procedures to ensure the company’s compliance programs are effective and efficient in identifying, preventing, detecting, and correcting noncompliance with applicable laws and regulations. Gutierrez has extensive executive-level experience at multinational companies in Chile, with more than 20 years in the banking, securities and extractive industries. She has a proven history of building and maintaining excellent working relationships, based on respect and diversity with collaborators of all levels and from different cultural backgrounds. Prior to joining CAP in June 2019, Gutierrez worked as ethics and compliance manager, Minerals America, for BHP; was the chief compliance officer for China Construction Bank in Chile; and served as head of compliance and operational risk management for Deutsche Bank’s Chile business. She is a CPA from Universidad de Santiago de Chile, has a Master’s Degree in corporate law from Universidad Adolfo Ibañez, a Master’s in humanities from Universidad Adolfo Ibáñez, and an International Compliance & Anti-Corruption Certification,  from the Institute for U.S. Law, George Washington University Law School.  What You’ll Learn on This Episode: [:56] Gabriela tells us about your career path and how she worked her way to becoming chief compliance officer at Grupo CAP and what cultivated an interest in ethics and compliance? [2:53] What does CAP do? What are Gabriela’s goals there as head of the compliance program? How far along is she in implementing those goals and what still needs to be done? [4:48] Before joining CAP, Gabriela worked for BHP as their Latin America CCO. What was that experience like for her and how has it informed what she is doing now? [6:47] How much risk does regional politics present to Gabriela when designing and carrying out the E&C program? [11:17] How hard is it to enact cultural change in Latin America given the way people have been acting and doing business there? What has Gabriela tried to do so far in this to impact the culture at CAP? How successful has she been? What else would she like to accomplish?

On the last edition of Market View Wrap for the year, co-hosts JP Ong and Claressa Monteiro are joined by Geoff Howie, Strategic Market Analyst of the SGX to discuss global market movements and how they have been impacted by recent geopolitical developments. They also talk about whether the festive season has a part to play in slowing down trade activity and value turnover. Their attention shifts to data centres and if those are to be watched for investments in 2020. The formation of an asset management union by Blackrock, Temasek and China Construction Bank is also brought into the spotlight. All this and more, on this edition of Market View Wrap.

In the latest episode of AFP Conversations, sponsored by Santander, we turn our attention to U.S./China business relations. Though China is the fastest growing market in the world and it has gradually opened its doors in recent years, the U.S./China trade dispute has threatened the ongoing relationship between both nations. So the question is, what comes next? To discuss where businesses on both sides go next are Frank Sansone, Treasurer and Senior Vice President for China Construction Bank, and Anton Chan, RMB Specialist, Financial Markets, Americas for Standard Chartered Bank.

Welcome to Finance and Fury, The Say What Wednesday Edition This week the question is from Dan I am 21 and have about 70k in a term deposit and 5k in VHY and VGS ETFs. I am wondering whether over a period of 20~50 years I would be better diversifying into VAE or VGE and VAP or whether you'd stick to VAS and ETFs which have a franked dividend and not just potential capital gains. You have mentioned in previous podcasts bubbles, though these ETFs have much larger market caps and therefore are less likely to default. Thanks for the great question – Break down investing in ETFs, diversification issues with ETFs – Feedback loops and self-fulfilling prophecy – Global asset managers, Vanguard and iShares continue to dominate the ETF market in Australia. Account about 56% of all money invested in ETFs - BetaShares is the third-largest Low-cost passive vehicles have gained popularity on Main Street. Passive investments have now taken over nearly half of the stock market as more investors shun stock pickers and flock to index funds, according to Bank of America Merrill Lynch. Equity passive funds alone have ballooned to a more than $3 trillion market in less than 10 years, according to Morningstar  Aus – largest is Vanguard – can't tell you what to invest in – but can give a breakdown and comments on them Vanguard ETFs – six mentioned in the email and Start date for each: VHY - Vanguard Australian Shares High Yield Fund – 62 shares – May 2011 - Higher FF divs VAS - Vanguard Australian Shares Index Fund – 296 shares – May 2009 – ASX300 whole index, good FF shares VGS - Vanguard International Shares Index Fund – 1,590 shares – Nov 2014 – International market access – 14% top 10 VAE - Vanguard FTSE Asia ex Japan Shares Index – 1,176 shares – Dec 2015 – 28% top 10 VGE - Vanguard Emerging Markets Shares Index Fund – 4,729 shares – Nov 2013 – still has 24% top 10 VAP – Vanguard Australian Property Securities Index Fund – 28 shares - October 2010 – 84% in top 10, large loss potential All very new investment vehicles   VAS won’t provide much additional diversification if you are already invested in VHY: VAP – Doesn’t provide much diversification - 10 companies make up over 80% of the index - in it and the index lost over 70% in 2009 –   VAE and VGE – almost the same investments as well except one has 3000 more companies which make up a tiny allocation Some of the largest holdings are in Communist Party run banks – China Construction Bank, industrial & commercial bank of china, etc. If you are looking for the most diversified version of Vanguard funds, they have the multi-asset ETFs available now such as the following: Vanguard Diversified Growth Index ETF (VDGR) – or Vanguard Diversified High Growth Index ETF (VDHG) - The bubble topic is about the nature of buying ETFs and how Central Banks are buying these, as they are price taking and not price making.   Index Funds and Price Discovery Firstly - Central banks and Basel III have more or less removed price discovery from the credit markets Risk does not have an accurate pricing mechanism in interest rates anymore On top of this - now passive investing has removed price discovery from the equity markets If it is in the index – it is purchased – bubble in markets - due to the rise of inflows into ETFs – pushing the shares at the top in the index up further regardless of the performance of companies – Example - the bubble in synthetic asset-backed CDOs before the GFC Price-setting in that market was not done by fundamental security-level analysis - but massive capital flows based on Nobel-approved models of risk created a similar ‘if everyone is doing it’ mentality The Rise of ETFs and Market Distortion Index funds are only relatively new – 2009 to 2017 created - growth in index funds is creating a valuation distortion in the market. In one of the longest bull markets – I think a lot due to the technology platforms and apps making index investing easier and cheaper than ever - Passive phenomena is being viewed by rating agencies like Moody’s as the adoption of a new technology Investor adoption of passive low-cost investment products will continue irrespective of market environments The ETF industry has attracted almost US$3trn in new business since the start of 2009 - coinciding with one of the longest bull markets in US history Among Professional investors - Record surge into ETFs fuels fears of stock price bubble - Michael Burry, one of the first investors to call and profit from the subprime mortgage crisis started talking about this just last month Personal Example – NWH – saw the price go up by about 12% - checked the news and it was a 3.8m share purchase by vanguard as it made the ASX200 index – no other news Liquidity Risk – Further Explanation Needed The dirty secret of passive index funds -- whether open-end, closed-end or ETF -- is the distribution of daily dollar value traded among the securities within the indexes they mimic Daily Turnover and volumes In the US - Russell 2000 Index has better data on it as an example – Vast majority of shares are lower volume shares – of the 2000, 1,049 shares trade less than $5 million per day 456 shares traded less than $1 million during the day But through indexation and passive investing, hundreds of billions are linked to these shares The S&P 500 is no different -- the index contains the world’s largest shares – but 266 shares (over half) - trade under $150 million per day $150m sounds like a lot – but trillions of dollars globally are indexed to these shares Analogy of a theatre – packing more and more people into one - keeps getting more crowded, but the exit door is the same as it always was Concentration risks – fuelling bubble ASX one of the most concentrated indexed - Large-cap – Purchasing an index = 65% of funds to the top 20 shares and 40% to the top 8 shares – 8% of ASX300 is CBA alone – every purchase of the index (super funds, Raiz, etc.) = 8% inflow into CBA pushing price up The fear is that there is the potential for a liquidity squeeze in the event of a market correction or crash which will start within the Financial sector – GFC – banks lost 68% of values without the outflows of index funds - Exit door – Selling and NAV An ETF is listed on the ASX and its price will be determined by a number of factors – In theory, will always trade at it's reported net asset value adjusted for tax and dividends So the net asset value is the value of the fund - take the assets and the liabilities, and you compute a per share price – But the market price is where you're able to transact in the marketplace for the ETF. And ETFs are really structured so that the market price can be very close to the net asset value, but it could deviate a little bit over short periods of time given certain supply and demand characteristics. The reality is that an ETF, LIC etc can trade at either a premium or discount to valuation. In the event of a market correction or crash an ETF will likely trade at a steep discount to valuation as investors run for the exits – but we don’t know as ETFs haven’t gone through a mass selloff – simply working of human behaviours and myopic risk aversion – well documented The market maker will probably step in to ensure liquidity but it won’t stem the flow. The market maker, after all, has to fund the purchase by selling the ETF assets. Sale process - First NAV is the weighted average price of all the shares – but is worked out at close of trade ETF purchases have to be closed out intraday – if you do a price limit and doesn’t trade – order cancelled Example – if everyone is selling ETF – have to sell at market price to sell – take what you get – might be big discount to the actual NAV which you will find out after 4pm The concern is the untested potential for a liquidity crunch. If the market is falling and you are selling assets to fund the exit of investors then who is buying the underlying shares? Well probably the underperforming high fee active manager who is seeking to take advantage of the misallocation of price and the eventual normalisation of the market price for the assets. It Won’t End Well – passive investments are the same story again and again – very easy to sell Become a self-fulfilling prophecy (prices go up the more people buy, so people buy more) – also algorithm trading kicks in for buys - also money managers are pushing Funds into ETFs What makes it worse? the impossibility of unwinding the derivatives and naked buy/sell strategies used as part of ETFs Fundamental concept is the same one that resulted in the market meltdowns in 2008 Nobody knows what the timeline looks like – but like most bubbles, the longer it goes on, the worse the crash can be   So what does work? Warren Buffet has told us all to go and buy index funds - Yet his portfolio of assets is nothing like an index fund Buffet and most wealthy investors are high conviction investor – don’t just buy shares but buys the whole company The active managers who have actually managed to outperform over longer periods of time you will probably find them to be high conviction managers with concentrated portfolios – Such as Magellan   Summary An index manager will buy everything in the reference index – those shares go up It isn’t an asset allocation decision based on your own investment goals and tolerance to investment risk Michael Burry - called it a “herding behaviour” and it has reached “mania status” in price misallocation Nothing wrong with ETFs as a part of an investment portfolio – but diversification is not just the number of shares held – I use index funds as a core – but only about 20-30% - replacement of large-cap active managers who buy 50-60 shares Active Vs passive – active managers are underperforming on the large-cap side of things – Investing in active has to have a purpose – in the next correction there will be widespread deep value that has arisen with the sell-off  

Lauren Hood is Diversity & Inclusion Executive at Bank of America, leading strategies, programs and initiatives that actively support Bank of America’s diverse and inclusive global workplace.  Prior to joining the Global Diversity & Inclusion organization, Lauren managed Bank of America’s strategic partnership with China Construction Bank, the second largest bank in the People’s Republic of China. Lauren is Six Sigma certified and earned a Bachelor of Arts in Economics and English with cum laude honors at Duke University.  She lives in Charlotte with her husband and two sons.

Today we’re joined by Fraser Howie, co-author of three books on the Chinese financial system, including the influential Red Capitalism: The Fragile Financial Foundations of China’s Extraordinary Rise. Howie has significant experience in China, and previously worked for the China International Capital Corporation – a Chinese joint-venture investment banking firm originally owned by Morgan Stanley and the China Construction Bank – which gained him first-hand experience of the Chinese banking and financial system. In this episode we discuss the history of China’s stock market, the Shanghai-Hong Kong Stock Connect, and China’s struggle to balance stimulus efforts with the ongoing deleveraging campaign.

Welcome to the 81st installment of the Caixin-Sinica Business Brief, a weekly podcast that brings you the most important business stories of the week from China's top source for business and financial news. Produced by Kaiser Kuo of our Sinica Podcast, it features a business news roundup, plus conversations with Caixin reporters and editors. This week: We report that high-level U.S. officials are visiting Beijing this week for yet another round of trade talks. Meanwhile, China's Vice Premier, Liu He 刘鹤, is set to visit Washington in a few weeks. We discuss an explosion at a chemical plant in eastern China, which has killed at least 64 people and seriously injured nearly a hundred. We discuss the development of the so-called Jing-Jin-Ji 京津冀 cluster, a planned city cluster that will integrate Beijing, nearby Tianjin, and Hebei Province. Its progress is lagging behind other major city integration projects, a new government report has found. We hear the news that electric car-maker Tesla is suing a former engineer who left the company to join a rival Chinese startup, accusing him of stealing trade secrets, including source code. We learn that a police officer is currently being tried in Hunan province for taking more than $6 million in bribes over seven years in order to change individuals' driving records. We note that Hong Kong residents have been cleared to open mainland accounts at Bank of China's Hong Kong branches under a pilot program without having to visit the mainland. We chat about Liu Guiping 刘桂平, the new president of China Construction Bank, China's second-largest bank by assets. In addition, we talk with Tanner Brown, breaking news editor for Caixin Global and co-producer of this program, about a mysterious opulent villa built illegally in the middle of a national park in China.

The People’s Bank of China recently awarded the Bank of China clearing-bank status for its new U.S. Renminbi (RMB) Trading and Clearing Hub. What does that mean for corporate treasury and finance? Plenty, says today's AFP Conversations guest, Frank Sansone. Sansone is treasurer of the New York branch of China Construction Bank -- the second-largest bank in the world. The well-traveled Sansone also discussed his time working as a treasury executive for Belgian-French bank Dexia and the National Bank of Kuwait. Thanks for listening to AFP Conversations. Please give it a review on your podcast app of choice -- it will help other listeners find the show, and host Ira Apfel will read your review on air.

Welcome to the 16th installment of the Caixin-Sinica Business Brief, a weekly podcast that brings you the most important business stories of the week from China's top source for business and financial news. Produced by Kaiser Kuo of our Sinica Podcast, it includes a business news roundup, conversations with Caixin reporters and editors, and a selection of complete stories from the week's news, read by Kaiser and Sinica rotating co-host Ada Shen. This week, we hear how a recent study by the Chinese Academy of Sciences found that two in five migrant laborers returning home fail to find work because they lack skills. We examine the recent prison sentence of five tour guides who forced clients halfway through their trips to cough up more money than was originally agreed upon. We discuss how the China Construction Bank has restored the credit limits on some credit cards belonging to employees of LeEco after unilaterally cutting the limits to 1 yuan ($0.15) while it conducted credit-risk assessments on the cardholders. We look at China's largest peer-to-peer lending platform — Hongling Capital — and how it plans to get out of the online lending business within three years, citing a poor track record of people repaying loans. We learn how Alibaba has found that internal theft is now the top cause of customer data leakage in China — the world's largest ecommerce market. We talk to Caixin senior editor Doug Young about two big stories surrounding HNA Group's investments, and to Caixin Global reporter Amy Ma about how one Chinese city is trying to deal with the problem of drones. In addition, we bring you four complete stories: How the tragic deaths of four kindergartners in buses during the recent heat wave in China have triggered a major outcry over the state of schools in rural China. How a new documentary released with the blessings of, if not indeed at the behest of, the state features corrupt officials confessing on camera to having taken bribes. How demand is booming for virtual currencies — and not just for Bitcoin, but for homegrown Chinese digital currencies. Why shares of Kweichow Moutai, China's best-known baijiu distiller, are soaring on a very bullish outlook. We'd love to hear your feedback on this product. Please send any comments and suggestions to sinica@supchina.com.

As Chinese businesses do more deals in Europe, its big banks are starting to look at potential acquisitions in Europe, why former HBOS banker Peter Cummings was singled out personally by the regulator and the trial of the former UBS’s trader Kweku Adoboli accused of causing the largest unauthorised trading loss in British history gets underway. See acast.com/privacy for privacy and opt-out information.

Any Flagship Friday is a happy Flagship Friday when we've got shit to talk about Craig Wright, scamlord extraordinaire, Satoshi Suck-a-moto, the douchebag to end all douchebags. And guess what: this is a happy Flagship Friday. :) So, JOIN US on this episode to listen to us talk shit about Craig Wright and discuss his defeat in court, something that we've been longing for for quite some time.  Also, the wonderful People's Republic of China is making a step towards transparency and democracy with launching its own cryptocurrency! Maybe...! Does something smell fishy...?  Anyway - on the side of good news, we're talking official crypto banks in Switzerland, crypto bird feeders and more! Dive into the cryptoverse with us on this week's Flagship Friday. --- Rapid Fire - Wikipedia is a verified Brave browser publisher. Considering they send emails out every year asking for donations, this is another great way to donate to Wikipedia. -https://twitter.com/batgrowth/status/1166228879444459521?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed&ref_url=https%3A%2F%2Fwww.notion.so%2Fcryptobasic%2FFlagship-Friday-8-30-19-11c48208b4f6492e8868966bbe44fb6c  - Venezuelan pharmacy, Farmarket, has added Dash as a payment option in 22 locations.: https://dashnews.org/dash-integrated-into-venezuelan-pharmacy-chain-farmarket-with-22-locations/  - US Air Force Partners With Constellation Blockchain Firm: https://www.coindesk.com/us-air-force-partners-with-blockchain-firm-to-automate-data-management  - Interactive Bird Feeder With Crypto: https://www.youtube.com/watch?v=otpqipL3H8Q  - Interactive Bird Feeder where for $0.50 USD you can feed the birds with BTC, LTC, Dogecoin or NANO. Birds that pop in are House Sparrows, Collared Doves, Great Tit, and Blue Tit. - Located in Slovakia. --- - Craig Wright Loses Case again Ira Kleinman - A Reporter named Katie Ananina was in the courtroom for the case and was live Tweeting it on Monday. - Wright's lawyers continue to argue Wright can't provide proof YET (remember he was moving the goalposts - this time to Jan 21, 2020) - They just kept begging for more time in different ways. - Kleinman family lawyer gets to recap all CSW lies, including the phrash "Dr. Wright is dishonest. He is a Serial Forger" - He even kinda quotes Twain - "The problem with not telling the truth is to remember the lies you previously said" - Finally the judge says this "Dr. Wright did not impress me as someone telling the truth. All of his testimonies have been rejected on this matter". Why isn't that perjury? - 50% of all patents are given to Dave's estate. 50% of all the supposed BTC is ordered paid as well, which is about 480K BTC. https://twitter.com/PeterMcCormack/status/1166086602441068544?s=20  https://twitter.com/PeterMcCormack/status/1166086602441068544?s=20  --- - Alleged Capital One Hacker Accused of Secretly Mining Cryptocurrency: https://cointelegraph.com/news/alleged-capital-one-hacker-accused-of-secretly-mining-cryptocurrency  - individual accused of perpetrating a massive-scale hack of credit card issuer Capital One - hacked cloud customers’ servers to mine cryptocurrency for herself. - Exploited the fact that some people misconfigured the webapp firewalls on the servers they rented - Online she posted that “if I had a partner I could have them take over my crypto-jacking enterprise and be a stay at home.” - Thompson allegedly gained access to 140,000 Social Security numbers, 1 million Canadian Social Insurance numbers and 80,000 bank account numbers, as well as data pertaining to customers’ credit scores, credit limits and balances. - World's First Licensed Crypto Bank Seen As Game-Changer: https://www.zerohedge.com/news/2019-08-28/worlds-first-licensed-crypto-bank-seen-game-changer-switzerland  - Reported from ZeroHedge the co-founders of Sygnum crypto bank have hailed the award of Swiss banking license as a game changer. - Could open the floodgates of integration of cryptocurrencies and other digital assets into established financial sector. - First time this type of license has been granted WORLDWIDE. Obviously Zug is a crypto hub so the fact that Switzerland is the first country in the world to do this is not a surprise. - The Swiss Financial Market Supervisory Authority was skeptical bc they wanted to safely and reliably integrate the worlds of crypto and mainstream finance. - Sygnum even created its own digital payment token backed by the Swiss franc. - Curious what you guys think about the implications of this - Telegram Pushes Ahead With Plans for ‘Gram’ Cryptocurrency: https://www.nytimes.com/2019/08/27/technology/telegram-cryptocurrency-gram.html  - Telegram doing their own crypto like Libra - Called the Gram, and they told investors they are ready to send out first batches withing a few months - Leaked, investors had signed NDA lol, this is anonymous but NYT - 200m to 300m global users - They raise $1.7b in 2018 but unlike FB have mostly kept project secret - A spokesman for Telegram did not respond to multiple requests for comment. - "company was created by Pavel Durov, a self-described libertarian who fled Russia after clashing with the government and being forced to sell off his first successful social network, VKontakte.' - NYT say they saw a pitch for Gram that said it would be decentralized like BTC so it can skirt government regulations. That they will be governed by decentralized network once released (and telegram no control) - Telegram promised in legal documents that it would deliver Grams to investors by Oct. 31, 2019, or return the money! - Pre offering btw was 2.89b Gram for $1.7B --- Crypto Around the World - "Argentina's New Shitcoin": https://decrypt.co/8695/argentina-reward-waste-management-with-new-wastecoin-called-jellycoin  - a "wastecoin" called JellyCoin has been created by Argentina to reward waste management. --- - Chinese Government Crypto? Yes! No. Maybe? Bullish or Bullshit?!?! - Forbes - Alibaba, Tencent, Five Others To Receive First Chinese Government Cryptocurrency: https://www.forbes.com/sites/michaeldelcastillo/2019/08/27/alibaba-tencent-five-others-to-recieve-first-chinese-government-cryptocurrency/#1c559cc61a51  - China's central bank will launch a state-backed cryptocurrency and issue it to seven institutions in the coming months - Source was Paul Schulte, independent researcher (head of financial strategy for China Construction Bank until 2012) - Industrial & Commercial bank of China, Bank of China, Agricultural Bank of China, alibaba, Tencent, and Union Pay - Forbes says it was confirmed by second anonymous source, said it may launch for their big shopping day (singles day, Nov 11) - “China is barreling forward on reforms and rolling out the cryptocurrency,” “It will be the first central bank to do so.” - Not Launching a Cryptocurrency in November: China’s Central Bank: https://www.newsbtc.com/2019/08/28/not-launching-a-cryptocurrency-clarifies-chinas-central-bank/  - The People’s Bank of China (PBoC) called the coverages “inaccurate speculation,” - Reuters attempted to reach all the seven institutions for confirmation. Alibaba declined to comment, while others did not respond. THAT'S A SCAM - SUB Shuts doesn Telegram Group - Co-Founder Deletes Twitter: https://www.reddit.com/r/CryptoCurrency/comments/cui4a8/substratum_shuts_down_its_telegram_group_since/  - Trevon James Facing SEC Charges: https://www.reddit.com/r/CryptoCurrency/comments/cui4a8/substratum_shuts_down_its_telegram_group_since/  - This was kinda amazing. The title to HIS OWN VIDEO it this - "Trevon James Facing SEC Charges for Bitconnect | Jail Time?!" - The first link in his shownotes is something called Trontopia. - Spends a decent amount of the video talking about how he shouldn't have even been able to promote it because he didn't create it so its not his fault he didn't make it. - He's not getting a lawyer - Top comment on his youtube "Trevon now works for the feds. For life. Watch yo back round here" lolol - He has 176 Patrons on Patreon. KIDDING ME?? - He literally has a video that says "CAN I REPEAT THE SUCCESS OF BITCONNECT ON MY CHANNEL NOW" as his latest release. "I'm gonna try to recreate the huge euphoria of Bitconnect with a Decentralized Application" which then cuts to "Hey its not on me dawg" with throwing his hands up. - LA man pleads guilty to $25 mill BTC money laundering scheme - 25 year old LA man operating an unlicensed biz. $25 mil exchanged over 2 years. Kunal Kalra, known as Kumar, skeclemayne, and coinman. Los Angeles man pleads guilty to $25 million Bitcoin money laundering scheme | Micky: https://micky.com.au/los-angeles-man-pleads-guilty-to-25-million-bitcoin-money-laundering-scheme/