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On Episode 473 of The Core Report, financial journalist Govindraj Ethiraj talks to Jay Kothari, Senior Vice President, Global Head International Business and Lead Investment Strategist at DSP Mutual Fund. SHOW NOTES (00:00) The Take (07:14) Markets were down last week, 2025 will be muted. (09:25) CLSA dumps HDFC Bank from portfolio, focusses on Tata Motors and NTPC, among others. (12:12) Crude oil prices hit a 2 month high. (13:47) Foreign investors bought barely half a billion dollars net last year but not all FIIs are the same and some are more faithful than the others. (24:42) Forex reserves down $13 billion in three weeks to $640 billion. (25:48) After Ford, its time for pizza maker Papa John to return to India India Energy Week, Feb 11-14 Listeners! We await your feedback.... The Core and The Core Report is ad supported and FREE for all readers and listeners. Write in to shiva@thecore.in for sponsorships and brand studio requirements For more of our coverage check out thecore.in Join and Interact anonymously on our whatsapp channel Subscribe to our Newsletter Follow us on: Twitter | Instagram | Facebook | Linkedin | Youtube
David Osman of IRF is joined by Sharmila Whelan, the Founder of Westbourne Research. ----more---- In this podcast, Sharmila Whelan explains the business cycle foundations of her investment strategy and global asset allocation guidelines. She discusses the potential impact of the Trump 2.0 Administration on US domestic and foreign policies. Sharmila then assesses the outlook for world public debt in the next 5 years, and explains what this could mean for government and corporate bond markets. Focusing next on Asia, she discusses some of the key aspects of the outlook for the economies and financial markets in Japan, India, China and Taiwan. Sharmila Whelan is a very experienced global geopolitical-macro strategist, who has been advising buy-side clients on multi-asset investment strategies and asset allocations for nearly three decades. Sharmila has held prominent roles for leading firms in London and Hong Kong, including Merryll Lynch/Bank of America, CLSA, BP and Altheia Capital. She has also counselled various governmental bodies and is a frequent contributor to the financial media, including Bloomberg, the BBC and CNBC. Westbourne Research is a global macroeconomic, geopolitical, policy forecasting and strategic advisory consultancy, which is based in London.
Welcome to CNBC-TV18's Marketbuzz Podcast. Here are top developments from around the world ahead of today's trading session -While Monday and Tuesday's fall came amidst multiple negative surprises, the fact that there were enough positive earnings surprises on Wednesday also could not improve sentiment in any form. IT was the only standout sector during the session, led by Persistent Systems and Coforge, shares of each ending 10% higher after a strong earnings performance and bullish management commentary on the road ahead. -In an interaction with CNBC-TV18, Laurence Balanco of CLSA projected the Nifty to fall another 1,000 points from current levels in the next 20 trading sessions. -Wednesday's high of 24,604, becomes the first level for the Nifty to cross during Thursday's trading session, which will also be the weekly options expiry day. The day's low of 24,378, which also happens to be the opening level and from where the index bounced, will be key to watch on the downside. -Stocks to track: HUL, AU Small Finance Bank, United Spirits, VIP Industries, Birla Corp, Pidilite, Piramal Pharma, Sona BLW -Earnings: ACC, Colgate-Palmolive, CSB Bank, Cyient, DCB Bank, Dixon Technologies, Godrej Consumer, IEX, IndusInd Bank, ITC, Laurus Labs, MGL, Nippon Life, Oracle Financial, Petronet LNG, PNB Housing, Westlife Foodworld -GIFT Nifty was trading flat this morning vs Nifty Futures Wednesday's close, indicating a muted-to-positive start for the Indian market. –In terms of global cues, equities in Asia fell while the yen stabilized along with Treasuries after a selloff on Wednesday as traders scaled back bets on US interest-rate cuts. Japanese, South Korean and Australian shares as well as stock futures for Hong Kong all dropped Thursday following a 0.9% decline for the S&P 500 on Wednesday. The yen edged higher after touching the weakest level against the greenback since July. -Back in the US, big tech climbed in late hours as Tesla kicked off the “Magnificent Seven” earnings season with better-than-estimated results. The carmaker jumped 8% after reporting adjusted earnings above the average analyst estimate. The firm also said it expects to achieve slight growth in vehicle deliveries for the full year. -In commodities, oil rose after retreating on Wednesday, as traders assessed tensions in the Middle East and the outlook for market balances heading into 2025. Gold edged higher following its biggest daily drop in 11 weeks. Tune in to the Marketbuzz Podcast for more cues
Vietnam is one of the rising star economies in Southeast Asia, with GDP growth projected between 5 to 6% this year. Its stock market has also outperformed the broader region, with returns up 14% on a year to date basis. However what do we know about their growing middle class? Lance Noble, Head of China Reality Research at CLSA tells us on the back of their recently released report and how they will contribute to the country's growth story.Image Credit: shutterstock.com
Welcome to CNBC-TV18's Marketbuzz Podcast, here are all the important cues ahead of the trading session of June 3 -In what is likely to be one of the most interesting sessions of the year or even more, the Gifty Nifty suggests not just a record high for Nifty but a start with gains of more than a whopping 500 points. -Before the final D-Day tomorrow that is the result day of Lok sabha elections 2024, exit polls on Saturday forecast a historic third term for Prime Minister Narendra Modi. The exit poll results were also on similar lines of market anticipation. -Most exit polls released predict a historic third term for Prime Minister Narendra Modi. The Bharatiya Janata Party-led National Democratic Alliance (NDA) is projected to secure more than 350 seats, comfortably crossing the halfway mark in the Lok Sabha. Although it may fall short of the ambitious '400 paar' target -An exit poll conducted by News18 Poll Hub is expecting the National Democratic Alliance (NDA) to win between 355 - 370 seats for the Lok Sabha elections. The Bharatiya Janta Party (BJP) is expected to win between 305 - 315 seats, which is nearly at par or slightly higher than the 303 seats the party won in 2019. -The Nifty had a forgettable last week as investors chose to book profit from record levels and wait for the exit polls outcome by sitting on the sidelines. The index ended 2% lower in the week gone by. Investors lost over ₹8 lakh crore courtesy of the weakness seen last week. However, they might look to recover most of that sooner or later, after the exit poll outcome. -Expert commentary is key to watch today, Prashant Khemka of White Oak Capital believes that the Nifty will be hitting levels of 50,000 in the next five years, which is more than double of where it currently is. Raamdeo Agrawal, Chairman and Co-founder of Motilal Oswal Group, believes this could mark the beginning of a 'higher for longer' market rally, especially if the BJP achieves its '400-paar' target. -Among the sectors that brokerages have bet on that are likely to be the key beneficiaries on the continuation of the current government would be PSUs, railways, defence, and other manufacturing and capex oriented sectors. Raamdeo Agrawal of Motilal Oswal though, expects the banks to emerge as the outperformers. CLSA also prefers larger banks due to the valuation comfort. -Stocks to watch: Hero MotoCorp, Tata Motors, Maruti Suzuki India, TVS Motor, Mahindra & Mahindra, Ashok Leyland, Eicher Motors, Escorts Kubota, defence PSUs, railway stocks, Adani Ports, Canara Bank, Welspun Corp, Aurobindo Pharma, MOIL, Coal India, Ashoka Buildcon, REC, Inox Wind, Aarti Pharmalabs -On the global front, Asia-Pacific stock markets mostly rose Monday ahead of a private survey on China's manufacturing sector. Wall Street futures were calm ahead of the first trading day in June, with the Dow Jones Industrial Average futures up 25 points, or less than 0.1%. S&P 500 futures were flat, and Nasdaq 100 futures were down 0.1%. -Oil extended losses this morning after OPEC+ set out a plan to restore some suspended production as early as October, despite concerns over the demand outlook and robust supply from outside of the group. Tune in to Marketbuzz Podcast for more cues
Rockford Lhotka is VP of Strategy at Xebia and Chief Software Architect at Marimer LLC. He is the creator of the open-source CSLA .NET development framework, the author of numerous books, and regularly speaks at major conferences around the world. Rockford is a member of the Microsoft Regional Director and MVP programs. Topics of Discussion: [3:36] Rockford's career path at Xebia and consulting. [5:18] Building frameworks that stand the test of time. [6:38] Changes in the CLSA user base and the two major inflection points. [11:40] How Rockford thinks about the general spectrum. [16:14] The ways we can improve education include decades of previous experience and education. [17:15] We need to ask why more. [28:12] The job of an application architect. [30:15] The “layer cake” as a visual way to express the concept. [32:57] Separating business logic from user interface. [33:53] The need for practical tools and frameworks that make developing easier. [34:05] The five layers in the layer cake approach. [47:03] The beauty of consistent coding. Mentioned in this Episode: Clear Measure Way Architect Forum Software Engineer Forum Programming with Palermo — New Video Podcast! Email us at programming@palermo.net. Clear Measure, Inc. (Sponsor) .NET DevOps for Azure: A Developer's Guide to DevOps Architecture the Right Way, by Jeffrey Palermo — Available on Amazon! Jeffrey Palermo's Twitter — Follow to stay informed about future events! Lhotka CSLA Episode 210 CSLA.NET Rockford Lhotka LinkedIn Rockford Lhotka Rockford Lhotka Blog Want to Learn More? Visit AzureDevOps.Show for show notes and additional episodes.
India's paint industry is on the cusp of a churn. Entry of three new players, which includes Aditya Birla Group, is set to intensify competition in the sector - where top five players have cornered 90% of the organised market. But exactly what is drawing big players to the paint industry? Stock of Asian Paints fell by over 5% on Monday after Hong Kong-based brokerage CLSA downgraded it, saying that stiff competition may take a toll on the paint maker's near-term growth and margin. Moving on, like India's paints industry, its space sector too is painting a promising picture. The government recently amended the FDI rules, allowing up to 100 per cent investment through three categories. So will it make India a space superpower? After space, let us now see what is happening in the world of cryptocurrencies. World's largest cryptocurrency, Bitcoin, has jumped over 20% so far this year to 52,000 dollars. Its market value has also breached the 1 trillion dollar-mark for the first time since late 2021. However, the crypto community is abuzz with two questions: Has the market already adjusted itself to factor in the halving's impact? And, where is the price headed in the next 3 - 6 months? Do you want to know more about Bitcoin ‘halving'? Well in our explainer segment, Shivam Tyagi breaks it down for you. What is this event all about? How does it work? Find everything about this event and more in this episode of the podcast.
What's the difference between education and training? Why is the distinction important? How does the Deming lens offer a new perspective on teacher effectiveness? In this episode, John Dues and host Andrew Stotz talk about why it's important to go beyond skills training and encourage education for personal growth. TRANSCRIPT 0:00:00.0 Andrew Stotz: Here we go. My name is Andrew Stotz, and I'll be your host as we continue our journey into the teachings of Dr. W Edwards Deming. Today I'm continuing my discussion with John Dues, who is part of the new generation of educators striving to apply Dr. Deming's principles to unleash student joy in learning. This is episode 19 and we're continuing our discussion about the shift from management myths to principles for the transformation of school systems. John, take it away. 0:00:31.2 John Dues: Andrew, good to be back. Yeah, principle 13 today, Institute a Vigorous Program of Education. I'll just start by reading the Principle, "Institute a vigorous program of education and encourage self-improvement for everyone. The school system needs not just good people, but people that are improving with education. Advances in teaching and learning processes will have their roots in knowledge." It's interesting, when I was reading about sort of this particular principle, Dr. Deming took this actually pretty far when he was asked where would you draw the line? And he basically said, I would allow any educational pursuits that people are interested in. So that was his sort of take on this particular principle. But I think it's maybe the first thing is to differentiate between training and education. When he was talking about those things, we talked about instituting training on the job back when we talked about principle six, and he basically said the training is for a skill and a skill is something that's finite because it ends when performance has reached a stable state for a person when thinking about that particular skill. 0:01:51.3 JD: The differentiator with Principle 13 is that it's focused on education and it's meant for growth. And in the Deming philosophy, this is sort of a never ending process of education. So skills, so training is focused on skills, whereas education is focused on knowledge and theory. And this is really an important distinction in my mind, and you need both, training and education are complimentary components I think of an effective school system or really an effective organization in general. So I think, I mean, obviously training is important. It's something that's necessary, especially when you come into a new job. We have lots of new teachers that come to us 'cause we're a relatively young organization. And it's pretty typical for these new teachers to come even if they majored in education many times, they don't have sort of the basic classroom management skills, the basic lesson planning skills, the basic lesson delivery skills that they need to be successful in the classroom. 0:03:00.9 JD: So we have a training program, and in the absence of that training program the teachers would probably flounder or it would take a lot longer time to get their legs under them. So training is important, but we have to sort of shorten that runway. So we have to be good at training 'cause we're like a relatively young organization and we have students that come to us on average that are below grade level. And so they can't wait a long time for these sort of teachers to get up to speed. And I think we've talked about the fact that we have this sort of three week training program before the school year starts for new teachers for that reason. And so training is obviously important, very important. But I think what I've sort of come to appreciate is this idea of... And Deming stressed this, that leaders, systems leaders understand this idea of a stable system. 0:04:00.7 JD: One of the things that he said was that "The performance of anyone that can learn a skill will come to a stable state upon which further lessons will not bring improvement of performance." And this for me, reading Deming at this point in my career was really an interesting revelation because for many years I had heard sort of policymakers, education reform types sort of lament the fact that teachers improvement largely levels off in about year five of their career. Now, there has been some more recent longitudinal teacher research in terms of effectiveness over time. And basically people have found that that's not quite true. And that teaching experience is positively correlated with student achievement gains sort of across the teacher's career. But it's definitely true that the gains and effectiveness are steepest in those initial years. 0:04:55.2 JD: And so when you put those two ideas together that there's sort of this leveling off in about year five with Deming's sort of concept of stable systems, it really sort of dawned on me that it was this perfect explanation for this phenomenon. When a teacher is in their first five years there's a lot of foundational skills like the things I was talking about, like lesson planning, lesson delivery, classroom management, those basic things. There's sort of this period of rapid improvement or growth, and then it sort of levels off after you get the basics of how to be a teacher. And then after that happens, you have this... The potential for improvement sort of lies within the organization, within the system itself and not in the individual. So this really lined up with this thing I had heard for a long time, even though I think sort of it was misinterpreted. 0:05:52.0 JD: And I think a lot of those people that were talking about teacher skills leveling off after five years, they didn't have this lens of a stable system. They didn't have that part of it. And so they were saying, well, teachers aren't improving. Well, it really wasn't the teachers not improving. It was the fact that most of the capacity, like we've talked about here for improvement lies within the system itself and not the individuals. And I would also make the argument that this is not just educators, that this is other sectors as well, healthcare or whatever that thing is. 0:06:27.0 AS: Yeah. I mean, a good way of imagining that is a person who knows nothing that has the prerequisites, the education or whatever's necessary to get the job. And they know nothing about teaching and about the school system or anything that you can just imagine that so much of the initial phase is just understanding how the system, how they operate within that system to do certain tasks, which can be a process of trying to understand all of that. But then it's like they become, it's like entering the stream and then they become the stream floating down the river where everybody's kind of doing the same thing. And then you realize, okay, by this time now their, their, the amount that they can improve has been hit for some specific tasks and things like that. And then all of a sudden their output is a function of the system. 0:07:23.0 JD: Yeah. Yeah. And I think where this can really go off the rails is when people don't understand the stable state of systems. I think that, and I think a lot of the educators from reformers were sort of talking about it as if teachers were kind of replaceable because they didn't improve after those initial five years, especially 10 years ago that was sort of the common way people talked about this. And you could then sort of the next step is to draw the conclusion that experienced educators aren't that important since that improvement sort of levels off pretty early in their career. But I think that is the completely wrong conclusion to draw. I think experienced teachers are incredibly important because of the stability they provide a school. They can provide mentorship to inexperienced teachers, they have longstanding relationships with families as multiple students come through the system. 0:08:25.0 JD: That stability is really important for all those reasons, which are hopefully fairly obvious to anybody that's worked in a school. But I think even maybe more importantly is this idea that once teachers have that baseline level of knowledge and skills, they can run a classroom, they can deliver a well-planned lesson. The reason that it then becomes important for improvement to have those folks is because once those basic things are in place, now we can actually start to work on the system where the real potential for improvement lies. And I think that was a point that was missed or glossed over in a lot of those conversations about education reform and this idea of the teacher skills leveling off after year five. 0:09:23.8 AS: Mm-hmm. One of the the things about education that I have a story that's... I guess one of the conclusions is that the next level of improvement of the system oftentimes comes from outside the system. And that's where education takes the mind into another space. 0:09:40.9 JD: Yeah. 0:09:49.2 AS: From that other space, they're getting knowledge and theories of what's going on out there. And I had an example, John, that was... When I was the head of research at Citibank, and I had been head of research before taking care of a team of analysts, and analysts are always late in their reports, they're writing long reports about whether to buy or sell a company. They're trying to gather as much information, talk to the company, things get delayed. They set their deadlines and then they... The job of a head of research is juggling those delays so that the sales team and the clients need an idea day. And it's always the case that you're juggling around and okay, we don't have something this day, let's make something up with what we've got. Okay, this guy couldn't produce on that day, but he's gonna come in on Monday. So I felt pretty good about my skills at managing that process. And then I got a job at the number one foreign, the number one broker, let's say, or investment bank at that time in Asia called CLSA. And when I talked to them, I asked them how do you handle the flow and how bad is it here [chuckle] with the analysts being late? And they said, the analysts are never late. 0:11:13.3 AS: And I was like, that's impossible. My whole career it's been about handling the analysts being late. And they said, no, analysts are never late here. And I was like, how are you doing that? And they're like, well, we have a three week plan ahead. Everybody knows it. You know your day. There is no excuse, there's no shifting, there's nothing, it has to be delivered on that day. So it's up to you to kind of bring your project to a head so that you're ready to present on that day. And if you have some kind of major setback or problem, talk to another person and switch the day with them and sort it out. And every single day we had great stuff coming out. And I would've never, I mean, I was operating at a certain level thinking I was really knocking it out of the park, 'cause I was accommodating. I was careful, I was thoughtful. I understood the pressures that people were feeling. I was doing my best, but I didn't have a knowledge that it could be a very different way of doing it. And that's where I think about going outside of your own system to observe and learn and see. And then all of a sudden you're like, oh, [laughter] Okay. And that's where I feel like what you're talking about, about the education aspect is really the most amazing part. 0:12:33.2 JD: Mm-hmm. Yeah. That actually... I hadn't planned to talk about this, but I've been reading recently about the... Called the... Well, there's a book called Toyota Kata and Kata is from martial arts. It's the various movements that you have to do sort of repeated deliberate practice so you can sort of, they become ingrained in your muscle memory. Well, the same idea is in place in Toyota. They call... Well, they don't, but the author called it... They don't call... They don't have a name for it, but he sort of observed it and gave it the Improvement Kata name Mike Rother. Yeah, there it is. Yep. There it is. That one. And one of the things that was interesting, and it kind of reminded me of this as you were talking, is that part of the improvement kata is there's a sort of a target that's aligned with the organization's vision that guides anything that the folks in the organization are working towards. 0:13:27.0 JD: And so there's always a target condition. There's an understanding of sort of where each individual is and the departments are. And they're always setting a new target on the way to that sort of vision target and running these experiments all the time. And they constantly set those targets so that they are ambitious but within reach. And then they're coached on the way repeatedly. And in that way they're sort of always moving forward the organization. And so I think of when you've changed investment banks and you're at this new bank and they're saying, Hey, this thing is possible, it's possible to do this. Here's the way we do that. Here's how we work towards that. And so you can imagine a place like Toyota being so successful, because if everybody has got this mindset, this scientific thinking where they're constantly moving towards a target and there's a method for doing so, [chuckle] that is an incredible education right there if you're an employee working in an environment like that. So that just made me think of the Toyota Kata. 0:14:41.4 AS: Yeah. And it's a great example of how reading books is part of education because you're getting exposed to new ideas and exploring and thinking about things. And that's where, well, think about the repetition in let's say a martial arts as an example. And when Dr. Deming talks about opening up education to everything for everybody, there's something to learn in almost everything out there. Like if it is about... What is it about those repetitions and why is that important and could that benefit our business? And he talked about painting and other things, you know? Like education very widely can bring you new ideas that can come back to improve your system. 0:15:27.3 JD: Yeah. And I think you have to invest in that sort of broader education, 'cause it's sort of an investment in the future, you know? Especially right now, things are changing fast. And you could have the best training program in the world, but if you are not also sort of looking out for what's next beyond that, to adapt to whatever's changing in your environment... A good example is this, we have a much better understanding of cognitive science than we did 20 years ago. And so if we didn't adapt... If we didn't sort of learn that and then adapt that and sort of include that learning in our training system that we're gonna start falling behind pretty quickly. And I think this can get... This may be part of the most important responsibility of a leader on the learning front. 0:16:28.5 JD: Because what I also see is that education leaders are often getting enticed by many, many fads that sort of come along. And so how to sort of actually latch onto something that represents a potential advantage, that's a real important skillset to have. And I don't think... That's a key... I think a key function of systems leaders is sort of to know what to let go of or what not to latch onto at all and what to sort of sink resources into because if you're gonna go do these educational pursuits, you're obviously gonna have to sink time and money resources into these things. And so being able to differentiate between what is good and what is bad is a real key skill. 0:17:22.6 AS: And one of the things about Toyota is it's like the ultimate Asian family business. And although it's now a big public company, the largest automaker in the world, and the family's ownings in the company is relatively low, it still has the influence of the family. And I was thinking about another huge company that I know of in Thailand here that shifted its focus away from, let's say, Deming in this case, to when a new CEO came in, he said, well, there's a different way and this is my way. And one of the things that's interesting about what Toyota's done, you know, Toyota gets a lot of blame for being slow to progress and stubborn and all of that, but man, they have built a machine and a... You just can't change the direction of that quickly, you really nurture what has been developed and how do you not just throw away. I was presenting to my students last night in my finance class here at Sasin School of Management in Thailand and I was showing them the DuPont Analysis in the world of finances where you break down the return on equity of a company. And I explained why they call it the DuPont Analysis, and that's because the DuPont company bought shares in General Motors in 20- or 1912 or something like that and they instituted this method of financial controls on General Motors. And I said to my students in passing, General Motors has been going bankrupt since 1912. [laughter] 0:19:00.9 AS: And it's like every... It's not a cumulative level of learning. And that's where I feel like Toyota, what Toyota has achieved is a cumulative learning process. 0:19:16.9 JD: Mm-hmm. Yeah. You know, and it's a part of their DNA. I think certainly there have been challenges as they've grown across Europe and the United States and the world really. And a lot of the challenges that I understand is because people... That improvement Kata is sort of combined with a coaching Kata, like an approach to coaching and managers at different levels coach folks that are sort of a level down from them. And everybody in the organization, especially early, had sort of this mentor-mentee relationship. And so part of the challenge with growth was the fact that there are only so many of these folks that are grounded in this scientific thinking in the coaching part of this. And so that was a challenge as they grew, you know, in California and Kentucky and other places across the world. 0:20:17.9 JD: They had to build this coaching capacity across all of these new production facilities and other types of facilities across the world. So... But I think that what I really like about this principle...I, you know, if push came to shove, I started this by talking about Deming would basically allow almost anything when it came to allowable educational pursuits. And I think I would be much closer to that than I would be to limit those things. I think that is a really... That's a good sort of approach to take as a leader. I think here where I am at United Schools Network, one of the things that I was able to do was go take an improvement advisor course which required significant resources and time and money at the Institute for Healthcare Improvement. 0:21:19.6 JD: And so someone could look at that very easily and say, well, why are you an educator going to a healthcare organization? And I think it's one of those things where people maybe don't realize that the Deming philosophy and some of the continual improvement stuff, it's sector agnostic. And so when you can learn the philosophy, the methods, the techniques, you can bring them back to your own organization. So I think had I not gone down this path to study Deming, I wouldn't have made it to IHI and then bring this stuff back to my organization. I think it's benefited our organization in lots of ways, even though that might not have been immediately apparent to folks, you know, initially. 0:22:09.8 AS: So how would we wrap this up for the listeners to make sure that they truly understand the idea of vigorous education, self-improvement, this type of stuff? 0:22:14.0 JD: Yeah. I mean, for me the main point is that systems leaders should really encourage education among the whole workforce with a pretty wide latitude for allowable pursuits. I think especially for educators, when we seek those types of opportunities, we're also modeling this idea of continual learning to students as well. They see that just because I have a degree or a master's degree or even folks here that have a PhD, we have I think an organization that's pretty hungry for learning. And that's a model for students. Oh, this doesn't end when you graduate high school. This doesn't end when you graduate college. It doesn't even end when you graduate from graduate school. People all across the organization have books piled up on their desks and we're sending people to various learning programs and stuff like that. 0:23:09.4 JD: And I think that's a good model for students. And I think within that another big thing is to think about do you have an understanding of the stable state of systems and understanding that training programs are only gonna take you so far? Individuals are gonna come to a sort of a stable state once they've sort of maxed out on any particular skill. And that's why this idea of education is so important. Skills are important, training is important, but this other side of the coin, you have to pay attention to education. What's on the horizon? How are you gonna push the boundaries within your system? And I actually think to your point about outsiders or having an outside perspective, that's sort of, I think the benefit of education, because I think without that sort of push from an outsider, the push from the education, breakthrough improvements aren't possible in our school systems. They're not gonna come from training programs. They're gonna come from this continuous learning, this idea of continually pushing the targets, having sort of an improvement mindset. Having a coaching mindset that's always pushing towards those things. And I think this requires not just skills, but it requires new knowledge and new theory continually. And I think that has to come from this vigorous program of education. 0:24:39.7 AS: And the beauty of capitalism is that if you don't go out and get the education, your competitors will, and you don't want your source of learning to be facing constant defeat from your competitors. [laughter] 0:24:56.2 JD: Yeah, you can't sit around and wait, that's for sure. That's for sure. 0:25:00.0 AS: Exactly. Or someone's gonna take it. And that's the beauty of the capitalist system, the adversarial aspect between companies definitely gets people riled up when they see that all of a sudden someone's doing much better with some new technique or idea. Well, I think that was a great discussion to help us understand the difference between training and education and why it's so important. John, on behalf of everyone at the Deming Institute, I want to thank you again for this discussion. For listeners, remember to go to deming.org to continue your journey. You can find John's book "Win-Win: W. Edwards Deming, the System of Profound Knowledge and the Science of Improving Schools" on amazon.com. This is your host, Andrew Stotz. And I'll leave you with one of my favorite quotes from Dr. Deming. "People are entitled to joy in work."
Earlier this week, India's biggest winemaker, Sula, saw its share price reach historic high. The winemaker controls more than half of the market share of India's domestic wine industry. When it went for an IPO at the end of 2022, it was successfully subscribed by almost two and a half times.So you might think the jump in the share price makes sense. Afterall, Sula dominates the wine market in India. But you see, India is not a wine drinking country in general. The share of wine in the country's total alcohol consumption is minuscule.Turns out, the global brokerage CLSA saying Sula could rise 50% in the next year sent its shares soaring. But this was not because Sula Indians suddenly have become wine drinkers or because Sula has entered the new market.Tune in.Daybreak is produced from the newsroom of The Ken, India's first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.
Steven Chambers, analyst at Hosking Partners, interviews CLSA's John Seagrim and Jeremy Hosking for the third episode of Capital Cyclists.John started his career as an equities broker 10 days before Black Monday in October 1987. Two years later he joined Lehman Brothers just as the Japanese stock market peaked, and, in his own words ‘has been riding, or more accurately sliding, with Japan ever since'. From a stock market perspective, Japan has seldom been as insignificant as it is today, it represents a little over 4% of the aggregate global stock market capitalisation despite being one of the world's largest economies. John and Jeremy think this is the nadir for equity valuations. Their discussion is hot on the heels of Jeremy's recent investor trip and Hosking Partners' first overweight exposure to Japan. They perceive extraordinary, often hidden, value in Japanese equities at a moment when the country appears to be at an historic turning point.For more information and to get in touch, please visit www.hoskingpartners.com Hosted on Acast. See acast.com/privacy for more information.
Indian benchmark — Sensex and Nifty 50 — are likely to start the trading session of October 12 on a positive note with IT stocks like Tata Consultancy Services (TCS), Infosys and HCL Tech in focus. While TCS has posted a muted quarter, analysts suggest a similar earnings report for the other two as well. The spotlight remains on significant deals, mirroring TCS's scenario, expected to drive revenue growth in the latter half of the fiscal year and the subsequent financial year. HDFC AMC is set to release its financial numbers later in the day. Global markets are showing optimism, with attention on the potential pause in US Federal Reserve rate hikes amid geopolitical tensions. Asian shares saw an uptick on October 12, buoyed by more dovish comments from Federal Reserve officials, hinting at a potential peak in US rates. Traders are eagerly awaiting the US consumer inflation report for insights into future monetary policy. Brent crude prices have eased to approximately $85 per barrel. Meanwhile, Indian equities are receiving support, notably from CLSA upgrading India to 'overweight,' a record inflow of over Rs 16,400 crore for Systematic Investment Plans (SIPs) in September, and a reduction in the intensity of selling. On the macroeconomic front, India's retail inflation data is anticipated to soften to around 5.5%, compared to the previous 6.83% on a month-on-month basis. Investors are also keen on the US inflation data scheduled for later in the day. Tune in to Marketbuzz Podcast for more news and cues ahead of the session
Topic thoughts? Guest ideas? Comments? Just text us. (pls include reply details if needed)Hundreds of billions of dollars in global assets follow ESG principles. The massive growth seen in the past few years is set to continue, estimate various investments banks. This means that ESG research has become one of the pillars of green finance, socially responsible investing, impact investing and the like and is becoming part and parcel of standard investment research. In this episode, one of the region's most respected ESG analysts, Charles Yonts who heads Asian ESG Research at Macquarie Group, first discusses the basics of the research that he does including the approach and the challenges. We then take a deeper dive into some of the interesting issues including battery supply chains – especially cobalt and nickel, greenwashing, coal divestment and other hot topics.ABOUT CHARLES. Charles Yonts has been working as the Head of Asian ESG Research at Macquarie since 2020. He has spearheaded ESG integration efforts for the team, rolling out proprietary corporate governance and sustainability scores alongside stock analysts around the region. Before joining Macquarie, Charles led the ESG and Power Research teams at CLSA, where he worked for fifteen years. He also directly covered Greater China climate tech stocks from 2004 and was the top-rated earnings estimator for Asian Utilities in both 2018 and 2019 according to StarMine. Charles has a BS in Finance from the University of Minnesota and studied Chinese language and economics at Fudan University in Shanghai.HOST, PRODUCTION, ARTWORK: Joseph Jacobelli | MUSIC: Ep0-29 The Open Goldberg Variations, Kimiko Ishizaka Ep30- Orchestra Gli Armonici – Tomaso Albinoni, Op.07, Concerto 04 per archi in Sol - III. Allegro. | FEEDBACK: theasiaclimatecapitalpodcast@gmail.com.
China has set this year's growth target at "around 5%", in a cautious forecast after the pandemic-hit economy posted one of its weakest expansions in decades. At the National People's Congress held in March, China says its focus for 2023 is the economy. But what exactly are they going to focus on and which sectors will be their priorities? In this episode of the Bigger Picture, Ryan Huang zooms in on everything China with Lance Noble, Head of China Reality Research at CLSA.See omnystudio.com/listener for privacy information.
In this episode of Market Minutes, Shailaja Mohapatra talks about Tata Motors, why CLSA is bullish on Sula Vineyards and midcap company HG Infra Engineering's two new announcements. Also catch Sidharth Oberoi of Prduent Equity shares his views on infra stocks. Market Minutes is a morning podcast that puts the spotlight on hot stocks, keys data points and developing trends.
Episode #30Most likely, your 30s will define the rest of your life. In this episode, Aneesh and Anupam discuss the financial planning for your 30s ranging from investment, buying or renting houses, credit cards etc.---An all-around bon-vivant, Aneesh Bhasin is a commentator on all things cool and is one of GQ's 30 most influential young Indians. Follow him on Instagram and Twitter at @aneeshbAnupam Gupta is a Chartered Accountant, author of the book 'The Wisest Owl' and is famously known for his podcast- Paisa Vaisa with Anupam Gupta. He started his career as a sell-side analyst in 1999 with CLSA, followed by HDFC Securities, and then Barclays. Some of this work eventually became material for the best-seller, The Unusual Billionaires (2016), India's first deep investigation into corporate greatness.--You can Follow Anupam Gupta on Social Media:Twitter: (https://twitter.com/b50/)Instagram: (https://www.instagram.com/b_50/)You can listen to this show and other awesome shows on the IVM Podcasts website at https://shows.ivmpodcasts.com/featuredSee omnystudio.com/listener for privacy information.
On October 10, 2022, the Canon Law Society of America (CLSA) welcomed Bishop Robert Barron as the keynote speaker at its annual convention in Cleveland, Ohio. Speaking on synodality, Bishop Barron noted that "one could easily interpret [Pope] Francis's synodality as a development of the people of God ecclesiology of Lumen gentium and of the communio mysticism of John Paul II, especially if one remains at the level of abstract analysis. But when we come to the more practical application of the idea, more critical questions emerge. I should like to use three figures—John Henry Newman, Bernard Lonergan, and Augusto del Noce—not so much to criticize the notion of synodality as to make some distinctions that will serve, I hope, to clarify the concept a bit and to hold off potential misunderstandings." The CLSA welcomes anyone wishing to learn more about canon law and the work of the Society to visit its website at clsa.org.
This week's episode of “Surveyor Says!” The NSPS Podcast finds us back in “The Golden State” catching up with another surveyor who is making a significant “mark” on the profession. This week's guest is Adrian Aguirre, a survey analyst with Guida Surveying in Fresno, CA who is also is the Secretary of the San Joaquin Valley Chapter of CLSA. Tim Burch was able to catch up with Adrian to discuss plans for a virtual webinar and YouTube recording bringing various professional associations together to share commonality and fellowship to surveyors of all ages. They discussed how many surveyors don't realize all the opportunities for networking and furthering one's education simply by attending association functions and how Adrian wants to close that gap by hosting these informative sessions for all surveyors. If you have an interest in being part of Adrian's upcoming sessions, connect with him on LinkedIn and/or send us a note at info@nsps.us.com and we will get you hooked up! Look for more information from Adrian and social media for dates and time coming soon. Thanks for listening to “Surveyor Says!” The NSPS Podcast and subscribe wherever you listen to your audio selections.
It is often said that surveyors don't know how to retire and that they go on to do bigger and better things. This week's episode of “Surveyor Says!” The NSPS Podcast proves exactly that as we catch up with Steve Martin, a recently retired surveyor formerly with the East Bay Municipal Utility District (EBMUD). He is a long serving CLSA member (2011 Member of the Year recipient) and dedicated steward to the “GPS on Benchmarks” initiative through NGS (for more information, listen to Episode 111 w/ Galen Scott). Steve recent chatted with Tim Burch about his efforts to recover and submit data for the initiative, thoughts on mentoring, and the future of the profession. Check out Steve's efforts through his posts on LinkedIn and let him know that his work is appreciated! Thanks for listening to “Surveyor Says!” The NSPS Podcast and subscribe wherever you listen to your audio selections. For more information about “GPS on Benchmarks,” visit the NGS website at: https://geodesy.noaa.gov/web/science_edu/webinar_series/gpsonbm-nsrs-campaign-continues.shtml https://geodesy.noaa.gov/GPSonBM/
Reverend James Coriden may be one of the CLSA's most recognizable and longest standing members. Since joining the Society in 1961, he has been a familiar face and a prophetic voice for thousands of canonists who have come to know him as a teacher, a theologian, and a friend. We are truly blessed to call Father Coriden our brother.
Eureka! While looking for a helping of Rice-A-Roni and a ride on a trolley car, “Surveyor Says!” The NSPS Podcast struck up a conversation with Warren Smith, L.S., Tuolumne County Surveyor and just happens to be the President of the California Land Surveyors Association (CLSA). He recently sat down with Tim Burch to discuss several topics central to surveying in the Golden State, including monument preservation after the devastating wildfires, effects of shifting tectonic plates and the role of the surveyor, and how membership in your professional organizations leads to more public awareness for the surveyor. Warren also shared his experiences of promoting “National Surveyor's Week” on the municipal, county, and state levels with his fellow surveyors and technicians. NSPS would like to thank Warren and his fellow CLSA officers and members for the recent passage of an affiliate membership agreement between our organizations. We appreciate the effort completed to make this partnership happen. Thanks for listening to the “Surveyor Says!” podcast, and subscribe wherever you listen to your episodes.
The environment that we've lived in over the past couple of years in particular with whole new asset classes like cryptocurrencies, just spawning up out of nowhere, the level of FOMO out there in the investment world is truly phenomenal. It can suck the best of us in. And it feels like Judgement Day for high growth unprofitable tech companies. I was joined by Shaun Weick from Wilson Asset Management for a free-range, grass-fed discussion about investing in the era of high inflation.Shaun Weick BBus (Fin) CAT is Senior Equity Analyst at Wilson Asset Management He works within WAM Capital, WAM Microcap, WAM Research and WAM Active. Shaun has more than 10 years' experience in financial markets. Prior to joining Wilson Asset Management, he worked as a sell-side analyst at Macquarie Group and CLSA. Prior to that, he spent five years at KPMG in the M&A Advisory division. Shaun kindly offered his email address if you'd like to shoot any questions his way: shaun@wilsonassetmanagement.com.auHere's a link to the blog post: https://www.sharesforbeginners.com/blog/wamShares for Beginners is sponsor-funded. This allows me to cover costs and provide it to you for free. But, the more I know about you, the more I can tailor the content to YOU. I'd appreciate your help in completing a short and anonymous survey. It should only take about 4 minutes to complete and I won't be hitting you up for an email or any contact details. Filling out this survey will help me to provide a better listener experience. I've also included a question to gauge the level of interest in an ad-free subscriber option.You can find the survey at sharesforbeginners.com/survey. Thanks for taking the time to complete.Portfolio tracker Sharesight tracks your trades, shows your true performance, and saves you time and money at tax time. Get 4 months free at https://www.sharesight.com/sharesforbeginnersDisclosure: The links provided are affiliate links. I will be paid a commission if you use this link to make a purchase. You will also usually receive a discount by using these links/coupon codes. I only recommend products and services that I use and trust myself or where I have interviewed and/or met the founders and have assured myself that they're offering something of value. Shares for Beginners is for information and educational purposes only. It isn't financial advice, and you shouldn't buy or sell any investments based on what you've heard here. Any opinion or commentary is the view of the speaker only not Shares for Beginners. This podcast doesn't replace professional advice regarding your personal financial needs, circumstances or current situation. See acast.com/privacy for privacy and opt-out information.
The introduction of a 15% export duty on most steel products, up from zero, and an increase in levies on iron ore and pellets to 45-50% propelled a sharp slump in metal stocks on Monday. Shares of Tata Steel, JSW Steel, Jindal Steel, SAIL and NMDC cracked up to 20% in intra-day trade. Analysts have now turned pessimistic particularly on metal companies as the recent policy moves are set to undermine their operational performance from hereon. According to Bhavesh Chauhan, Research Analyst, IDBI Capital, hike in export duty negative for the sector and 15% duty hike means lesser realisations from exports. Steel companies' exports range between 10-25% of sales, Chauhan says adding that margins, already under pressure, likely to shrink further. Downgrades will happen, evaluation awaited to see if there is any upside left. Some brokerages have already initiated rating downgrades on leading steel stocks as the hike in export duties is expected to lead to a sharp correction in domestic steel prices. CLSA, for instance, has reduced domestic steel price estimates by 8-10%. On the back of lower steel prices, the brokerage has cut the Ebitda estimate for steel companies by up to 24%. It sees no near-term upside catalysts for the sector, other than a stimulus in China. ICICI Securities, meanwhile, has highlighted the policy decision as extremely negative for the steel sector expecting a broad-based multiple de-rating for the industry. It has also lowered its ratings for most metal stocks. The brokerage has broadly assessed a likely Rs 5,000-7,000/te of impact on EBITDA for integrated steel players, while for unintegrated steel equities like JSW Steel the impact can be Rs 5,000/te. “Due to the measures announced by the government, near-term correction in steel stocks is imminent. We believe the ramification of these decisions by the government will be felt widely across all parts of the industry,” says Motilal Oswal According to Motilal Oswal, the export duty hikes can impact the valuation of the sector and companies' ability to invest in capacity growth in the long term. On the contrary, the government has reduced excise duties on petrol and diesel by Rs 8 and Rs 6 per litre, respectively. Following this, Parbhudas Liladhar has cut its FY23 EPS estimates for HPCL and BPCL by 56% and 40%, respectively, as elevated oil prices remain challenging. According to the brokerage, OMCs ability to reduce high marketing losses will be contingent on crude price correction, as high inflationary pressure will prevent meaningful retail price hikes despite excise duty cuts. [Parbhudas Liladhar] Technical charts suggest shares of BPCL could see a bounce until their new 52-week low remains unbreached. The weekly chart of Hindustan Petroleum Corporation, meanwhile, currently signals a bearish trend. The stock price of Indian Oil Corporation is well-placed given its sustenance above the 200-day moving average level. On Tuesday, logistics player Delhivery's market debut will be closely watched, while in the primary market chemical company, Aether Industries' Rs 808 crores-IPO will open for subscription. Besides, Adani Ports, Balkrishna Industries, Balrampur Chini, Grasim, Ipca Laboratories and Metropolis Health will be on investors' watch ahead of their Q4 results. That apart, stock-specific action and global cues will dictate the market trend.
On this episode Leo interviews Shaun Rein. He is the Founder and Managing Director of the China Market Research Group (CMR), the world's leading strategic market intelligence firm focused on China. He works with boards, billionaires, heads of states, CEOs and senior executives of Fortune 500 & leading Chinese companies, private equity firms, SMEs and long/ hedge funds to develop their China growth, political and investment strategies. Rein authored the international best-sellers "The War for China's Wallet: Profiting from the New World Order," "The End of Cheap China" & "The End of Copycat China." Publishers Weekly named "Cheap" a "Top 10 business book for 2012." The Financial Times called "Copycat" "Intriguing" and said of Wallet: “Mr. Rein's insider tales of what it takes to work in contemporary China are insightful...a toolbox for those who want to work with Chinese companies make it a worthwhile read.”Rein is regularly featured in the Wall Street Journal and The Financial Times. His op-eds have appeared in the New York Times. He frequently appears on CBS, CNN, BBC, CNBC, PBS and MSNBC. Rein formerly taught executive education classes for London Business School and was a weekly columnist for CNBC and Forbes. He also wrote a column for Bloomberg BusinessWeek. Rein is one of the most sought out keynote speakers focused on innovation, consumer trends and the economy in China.He serves on the Board of Trustees for St. Paul's School and is a member of the Investment Committee.CMR combines unparalleled local knowledge of China with global expertise: our team is comprised of the finest business minds, who come from a wide variety of backgrounds and experiences.Clients include Apple, Yum! Brands, Crocs, Fidelity, UGG, Warburg Pincus, Richemont, DuPont, AXA Insurance, Electronic Arts, Hugo Boss, SAS Institute (Analytics), Ecco Shoes, LG Electronics, Samsung, SK Group, P&G, LinkedIn, Cofidis, MCM, Bumble Bee, Unitas Capital, CLSA, China Capital Today, Hutchison Whampoa, Aramark, Lane Crawford, Chloe, Juilliard, Duke University, Shanghai American School, Kamet, Esselte, The Math Works (Matlab), Shanghai Tang, Hard Rock International.Connect with Shaun on LinkedIn Self-learning is of paramount importance in the business world, listen to your international peers and step up your game.Connect with the host Leonardo Marra on LinkedIn Follow the page on LinkedIn
According to business and consumer data company Statista, in the financial year 2021, over 3.8 thousand government services in India were provided over the internet. A CLSA report indicates the value of digital payments in India will grow three-fold – close to 1 trillion dollars in FY26 from 300 billion dollars in FY21. A Deloitte study has said India will have 1 billion smartphone users by 2026. The country was home to 1.2 billion mobile subscribers in 2021, of which about 750 million were smartphone users. As on January 2021, India had 448 million social media users. In 2021, the DBS Digital Readiness survey revealed almost 62 per cent of large and middle-market companies are still in the formative stages of digitalisation in India. These are big numbers, and point to the vastness of the cyberspace that India needs to secure. The country is also a witness to numerous cyber attacks in the past, including many soft ones. The government's ongoing Digital India push and the Reserve Bank's planned Central Bank Digital Currency may only add to the list of vulnerabilities. In December 2021, Business Standard reported that India was expected to be among the largest victims of cyber attacks in two years. Cyber attacks were projected to increase by 200 per cent year-on-year. According to the Computer Emergency Response Team data, India witnessed a three-fold increase in cybersecurity-related incidents in 2020 compared to 2019, recording 1.16 million breaches. The number of breaches is expected to increase in 2021 and 2022. According to government sources, there has been 6,07,220 recorded cybersecurity breaches till June 2021. So, is the Indian government seized of the situation at hand? Data on government cybersecurity spending paints a mixed picture. According to a Business Standard report, in 2021-22, the government outspend its budgeted estimates on cyber security for the first time in past eight years. In its recent Budget, the government said it would spend 515 crore rupees on cyber security in 2022-23. That's a 10 times increase, compared to 2014-15. However, it also represents a reduction from the 552.3 crore rupees spent on cybersecurity, as per the revised estimates of 2021-22. The government had budgeted 416 crore rupees for cybersecurity for that period. Actual government spending on cybersecurity has always remained below budgeted estimates. For example, the government had spent 88.2 per cent of its budgeted amount on cybersecurity in 2016-17. In 2020-21, it was only able to spend 53 per cent of the budgeted amount. Presently, the nature of the war in Ukraine indicates that India needs to review its cyber-defence policies. The country also needs to give equal attention to building a deterrent cyber-offensive capability. The government is taking far too long in finalising a National Cyber Security Strategy. In a recent editorial, Business Standard pointed out two limitations in India's present approach. At present, the country's policy is defensive and has a narrow-focus. It aims to harden vulnerabilities only in civil government and military assets. However, a substantial amount of critical infrastructure in India is built and managed by the private sector. Private corporations also hold troves of sensitive personal data. Therefore, any new strategy must ensure the private sector has necessary cyber-security cover. The new strategy must also acknowledge that the capacity to counter-attack is often the best defence in a cyber-war. Watch video
Each year the Canon Law Society of America presents its distinguished Role of Law Award to an individual considered to be outstanding in the field of canonical science. The By-Laws of the Society directs the Board of Governors to select a person who demonstrates in his or her life and legal practice the following characteristics: Embodiment of pastoral attitude, commitment to research and study, participation in the development of law, response to needs or practical assistance, facilitation of dialogue and the interchange of ideas within the Society and with other groups. These qualifications are a concise re-statement of the constitutionally-expressed purposes of the Society. The person to whom this award is given is viewed by us as one who embodies all that we, as members of the Society hold dear, as one to whom we can look for guidance and inspiration. Such an official statement alone is perhaps the greatest honor that can be bestowed on anyone – to be selected by one's friends and peers as outstanding among them. Our recipient this year has the unique honor of being the first (and I think, the only) chaplain to take the DePaul University men's basketball team to an NCAA Final Four game. He was ordained a presbyter in 1976. He received a licentiate in canon law in 1977 and earned his doctorate in canon law at the Catholic University of America in 1992. He has taught canon law at DeAndreis Seminary located outside of Chicago, at St. Thomas Seminary in Denver, and Kenrick Seminary in St. Louis. He has served as a judge in the tribunals of the Archdioceses of Chicago, Denver, and St. Louis. He was judicial vicar of the Metropolitan Tribunal of the Archdiocese of St. Louis and the Tribunal of the Diocese of Memphis. The recipient is a past president of the CLSA. He was chair of the Religious Law Committee and co-editor of Procedural Handbook for Institutes of Consecrated Life and Societies of Apostolic Life. He also has served as chair of the Committee on Convention Planning and has presented several times at the Annual Convention. He currently serves as a canonical consultant and as an advocate in ecclesiastical proceedings. He continues to advise several institutes of consecrated life and societies of apostolic life. The 2021 Role of Law Award goes to Vincentian Father Michael Joyce, the Congregation of the Mission.
This is the second episode in our new Member Spotlight podcast series. Dr. David Keene is a student member of the CLSA. His varied career has led him to special opportunities in and service to the Church. Because of his training and expertise as an archaeologist, Dr. Keene has been called upon to assist with the exhumation of the remains of two Servants of God as part of their respective journeys to prospective sainthood. In this podcast, Dr. Keene shares with us his background and why, at an age when many Americans are enjoying retirement, he accepted the challenge to study canon law.
My guest today is Matthew Ruber. Matthew is the founder of Enlihtan Capital Management. At Enlihtan, Matthew employs a research-intensive "bottom up" selection process, in order to find excellent businesses at prices which represent excellent business sense. Before Enlihtan, Matthew was a senior trader with Macquarie Bank in Australia and Hong Kong. And then successfully ran a multi-strategy proprietary trading business for CLSA in Hong Kong, focusing on merger arbitrage, volatility trading and value-based special situations. In this conversation, we cover how he melds Quantitative and Qualitative characteristics when finding investments, asking the right questions of your investments, and some stories and lessons from AGM's. Super fun and varied one today, I know I learned a tonne so I hope you do to. So please enjoy my conversation with Matthew Ruber. For the full show notes, transcript, and links to mentioned content, check out the episode page on https://compoundingpodcast.com/ep21 ------ Show Notes: [00:00:45] - [First question] - Most surprising thing about running your own fund? [00:05:10] - Matthew's quant background [00:08:06] - What led Matthew to qualitative investing? [00:11:24] - Matthew's scorecard changes [00:14:04] - Do you push back against a scorecard? [00:16:08] - Lessons from AGM's [00:22:36] - Why move from Quantitative to Qualitative? [00:24:26] - Approaching volatility after being a quant [00:29:02] - Any aspects of investing that come easily to Matthew? [00:33:20] - Why start your own fund? [00:41:31] - Life outside investing? [00:43:01] - Most undervalued life experience? [00:44:56] - Influential books or resources? ------ Connect with Matthew: Enlihtan's Website: http://www.enlihtan.com/ Connect with Matthew on LinkedIn: https://www.linkedin.com/in/matthew-ruber-09ab5338/ ------ Stay up to date with the podcast by signing up to the Compounding Curiosity Substack, where I'll email you when the latest episode comes out along with my summary and takeaways, links to mentioned content, graphics and the transcript. Sign up at https://compoundingcuriosity.substack.com/ ------ Connect with Kalani: Visit the Compounding Curiosity PODCAST: https://CompoundingPodcast.com/ Visit the Compounding Curiosity SUBSTACK: https://compoundingcuriosity.substack.com/ Follow Kalani Scarrott on TWITTER: https://twitter.com/ScarrottKalani/ Sign up for Allocators Asia: https://KalaniS.substack.com/ Join the DISCORD: https://discord.gg/NPVNPVsCYb
Cameron Dawson, Chief Market Strategist of Fieldpoint Private, is joined by Andy Rothman, Investment Strategist at Matthews Asia. Andy brings his perspective on the regulatory crackdown in China, geopolitical concerns, and navigating Chinese markets. Cameron Dawson, CFA is Chief Market Strategist at Fieldpoint PrivateFor more perspectives from Fieldpoint Private please visit: https://www.fieldpointprivate.com/category/investment-perspectives/ Andy Rothman is an Investment Strategist at Matthews Asia. He is principally responsible for developing research focused on China's ongoing economic and political developments while also complementing the broader investment team with in-depth analysis on Asia. In addition, Andy plays a key role in communicating to clients and the media the firm's perspectives and latest insights into China and the greater Asia region. Prior to joining Matthews Asia in 2014, Andy spent 14 years as CLSA's China macroeconomic strategist where he conducted analysis into China and delivered his insights to their clients. Previously, Andy spent 17 years in the U.S. Foreign Service, with a diplomatic career focused on China, including as head of the macroeconomics and domestic policy office of the U.S. Embassy in Beijing. In total, Andy has lived and worked in China for more than 20 years. He earned an M.A. in public administration from the Lyndon B. Johnson School of Public Affairs and a B.A. from Colgate University. He is a proficient Mandarin speaker.https://global.matthewsasia.com/our-people/andy-rothman/ Cameron Dawson and Johnny Gibson work for Fieldpoint Private and are Investment Advisors registered with Fieldpoint Private Securities. All opinions expressed by Cameron or Johnny or any podcast guest are solely their own opinion and do not reflect the opinion of Fieldpoint Private. This podcast is for informational purposes only and you are encourage to speak with an investment professional before making any investment decisions. It is possible that clients of Fieldpoint Private will have positions in the securities discussed in this podcast. Fieldpoint Private Securities is an SEC registered broker dealer and Registered Investment Advisor and is a member of FINRA. This content is for informational purposes only and based on information available when created. It is not an offer or solicitation, nor is it tax or legal advice. It does not consider your financial circumstances, objectives or risk tolerance and could be unsuitable for you. Fieldpoint Private encourages you to speak with an investment professional before making any investment decisions.
My guest today is Daniel Tabbush (@TabbushReport). Daniel is the founder of the Tabbush Report, a research publication analysing Asia-Pacific banks. Prior to launching the Tabbush Report, he was the Head of Asian Bank research at CLSA for most of his career, overseeing coverage of 80 banks and 10 analysts. In this conversation, we dive deep into the Asian Financial Crisis, and the banking sector with ASEAN. I hope you enjoy my conversation with Daniel Tabbush. For the full show notes, transcript, and links to mentioned content, check out the episode page on https://compoundingpodcast.com/ep9 ------ Show Notes: [00:00:31] - [First question] - What was the Asian Financial Crisis like? [00:03:42] - What really stood out during the AFC? [00:05:49] - On how Malaysia handled the AFC [00:07:31] - How did bank behaviour change after? [00:09:57] - Could this all happen again? [00:11:27] - Some potential problems of today's banking behaviour [00:13:32] - The current Macro environment [00:16:20] - Negative interest rates and their long-term impact [00:17:21] - Central bank policy [00:19:15] - Currency debasement and the future value of fiat money [00:20:52] - How does low credit and banking penetration in SEA affect valuing banking stocks [00:22:51] - Analyzing ASEAN banks compared to developed nation banks [00:25:33] - Do Neo banks and FinTech affect traditional banks in ASEAN going forward? [00:26:48] - Risks and warnings when valuing banks [00:30:02] - Preconditions for a multi-bagger bank stock? [00:31:26] - Any specific risks in regards to smaller banks? [00:33:04] - Particular ASEAN banks that Daniel likes currently [00:36:20] - Geopolitical risks in HK and China and the follow on effects [00:38:49] - Making the jump into doing his own research and consultancy [00:41:07] - Most undervalued life experience? [00:44:34] - Plans for the future? Most curious about going forward? ------ Connect with Daniel: Follow Daniel on Twitter: https://twitter.com/TabbushReport The Tabbush Report Substack: https://tabbushreport.substack.com/ The Tabbush Report: https://www.tabbushreport.com/ Email Daniel: info@tabbushreport.com Connect with Daniel on LinkedIn: https://www.linkedin.com/in/daniel-tabbush-0255409a/ ------ Stay up to date on the podcast by signing up to Curated by Kalani, where I share what I've been reading, learning, and watching for that week. I compress to impress and aim for maximal return on your time invested. Sign up at https://kalanis.substack.com ------ Connect with Kalani: Sign up for Curated by Kalani: https://KalaniS.substack.com/ Visit the Compounding Curiosity PODCAST: https://CompoundingPodcast.com/ Visit Kalani Scarrott's BLOG: https://kscarrott.com/ Follow Kalani Scarrott on TWITTER: https://twitter.com/ScarrottKalani/ Follow Kalani Scarrott on INSTAGRAM: https://www.instagram.com/KalaniScarrott/
Today on the podcast I am happy to be hosting Russell Napier, Co-Founder of ERIC (Electronic Research Interchange) & author of "The Asian Financial Crisis 1995–98: Birth of the Age of Debt".Buy the book here - https://amzn.to/3m8vvK2On the podcast we talked about why it is important to understand the history of the stock market, the catalyst behind the Asian Crisis and how we are entering an inflation cycle.Russell was a Consultant Global Macro Strategist with CLSA Asia-Pacific Markets for almost twenty years, where he experienced the Asian Financial Crisis. He began writing his Solid Ground global macro strategy report for CLSA in 1995. He forecast what was to become the Asian economic crisis and was voted Asia's No.1 equity strategist in all leading polls at that time. From 1999 to 2014 he continued writing and publishing but as a consultant for CLSA and regularly appeared in the research polls. Russell is a financial historian and his work features lessons from financial history with a particular focus on trends in money and credit.His book Anatomy of The Bear (published in 2006) forecast a major correction for the US stock market and, using the conclusions of the book, he wrote a report for CLSA called ‘Finding The Bottom' , published in 1Q 2009, that forecast that the market had bottomedHe is also a Co-Founder of ERIC (www.eri-c.com) the platform for the sale of individually priced investment research. Russell Napier - LinkedIn - https://www.linkedin.com/in/russell-napier-81292846/Website - https://russellnapier.co.uk/WTFinance - Instagram - https://www.instagram.com/wtfinancee/Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfnTikTok - https://vm.tiktok.com/ZMeUjj9xV/iTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4Linkedin - https://www.linkedin.com/in/anthony-fatseas-761066103/Twitter - https://twitter.com/AnthonyFatseas
Sheinal is a Senior Portfolio Director at JG Digital Equity Ventures (JG DEV), the venture capital arm of JG Summit, a leading diversified conglomerate in the Philippines. JG DEV focuses on investing in early-to-mid stage startups in Southeast Asia across fintech, supply chain & logistics, and e-commerce/new retail. Sheinal has spent the majority of his career across a variety of roles in financial services. Prior to his move into fintech and now venture capital, Sheinal was previously in equity capital markets, most lately as Country Head and CEO of CLSA in Indonesia, a top-ranked equities-focused house in Asia, responsible for Equity Research, Sales, Sales-Trading and Operations. He was also a Director of PT CLSA Indonesia. Post CLSA, Sheinal was the Managing Director of Asia and Africa at the Entrepreneurial Finance Lab (EFL), a fintech company spun out of Harvard Kennedy School, and was responsible for sales and customer success across a wide portfolio of financial institution clients. EFL subsequently merged with Lenddo, where he became CFO of the newly combined company and a member of the Executive Committee with direct responsibilities including capital raising, strategic planning, budgeting and performance management, business intelligence, finance and accounting, legal, and tax. He also assumed the role of VP of Lending Partnerships, responsible for building out direct-lending capabilities. He was also on the Board of Accial Capital, a private debt-focused asset management company that was subsequently spun out of LenddoEFL. He is a graduate of MIT (Sloan Fellow, MBA), The London School of Economics (PGD Finance and Accounting), and King's College London (M. Sci. Chemistry) and is also a CFA Charterholder. Sheinal is a member of the MIT Committee of Singapore. Read more about JG Digital Equity Ventures here https://www.jgdev.ph/ and connect with Sheinal on Linkedin here https://www.linkedin.com/in/sheinalbhuralal/ If you enjoyed this podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 30 seconds, and it really makes a difference in helping to convince new guests to come on the show, and on top of that, I love reading the reviews! Follow Andrew: Website: https://andrewsenduk.com/ Instagram: https://www.instagram.com/andrew.senduk/ Linkedin: https://www.linkedin.com/in/andrew-senduk-1980/
When the Holy See promulgated the highly-anticipated new text of Book VI of the Code of Canon Law on June 1, 2021, there was a flurry of activity and media attention for several days as canonists and others have sought to wrap their minds around the content and the context. Sixteen days after this momentous event, we are excited to share some initials observations from a canonist who has first-hand knowledge about the inner workings of the Congregation for the Doctrine of the Faith. Father John Paul Kimes shared his insights into the CDF's Vademecum last July (2020), and now he ventures into the realm of the new Book VI. This podcast is a prelude to the pre-convention workshop that Fr. Kimes and Msgr. John Renken will be presenting this October for the CLSA in San Diego. We invite you to listen and to submit questions that you might have for the presenters to answer at the pre-convention workshop. For details go to clsa.org.
Role of Law Introduction 2008 by Reverend Paul Counce The nominee for the annual Role of Law award is usually introduced only gradually, beginning with early glimpses in infancy and childhood, when none of us – including the awardee – knew that a canonical future was waiting to blossom. The hints then thrown out are crafted to keep the ultimate revelation of the honoree's identity a mystery until the last moment. I am going to do this in similar manner, yet still a bit differently. It seems to me that we can begin instead with the honoree's mysterious present, and work backwards. At the present time, this year's recipient of the Role of Law award proudly represents an institution of higher learning in this country as the official Faculty Representative to the NCAA – the National Collegiate Athletic Association. This has helped our honoree to be unofficial “mascot” of the field hockey and women's basketball teams. I think you'd agree with me that this is unusual for a canonist! Also unusual is the recipient's lifestyle: in a dormitory with almost three score undergraduates, as a faculty resident there. This seems a far cry from the quiet, placid environment one normally associates with canonical research among the dusty stacks of the library, doesn't it? Yet our honoree this evening is scholar in the best sense of the word. The recipient of our award has done more than a lion's share of research while authoring over 50 major canonical articles and commentaries. The university setting has seen this professor supervise numerous dissertations and theses, too, as well as do editing work for journals and commentaries with which we are all familiar. Of course, the core of any professorial job is teaching, and some 2 undergraduate and 14 graduate courses in canon law taught have marked our awardee's academic career over the better part of the past two decades. In these critical times as a result of the clergy sex abuse scandals, particular mention must be made of the four-weekend training courses our nominee offered to bishops already in 1995 – with others – on how to make use of the heretofore underused penal law of the Church in addressing situations of clerical misconduct and so remove those unsuitable from ministry. One of the university courses taught by our recipient was entitled Special Issues in Clergy Law, and dealt with dealing with and prosecuting abuse cases. These teaching moments have been supplemented by personal involvement in many a canonical process. In fact we can hardly call it an occasional sidelight, given the honoree's work in this area, and the voluminous advice offered to bishops, major superiors, diocesan officials, canonical colleagues, and accused clerics over the years. As we continue to work backwards, we see that other involvement with the Church also has been a hallmark of our recipient's canonical service as well. A familiar face and voice at national CLSA and regional canonical meetings, our honoree served in Tribunal ministry and as assistant chancellor. In fact, in 1983, the advent of the revised Code of Canon Law had found our recipient already hard at work studying for the licentiate and then the doctorate in canon law at The Catholic University of America. Before embarking on a canonical career path, our honoree served as high school assistant principal and before that as a high school teacher. Even earlier, this year's awardee returned to this country from graduate theological studies at The Catholic University of Louvain in Leuven, Belgium, to be ordained a priest for his home diocese in 1974. It's a safe conclusion to make that his college, high school, elementary school, and even kindergarten years prepared him well for all that was to come. At the end of this reverse biography, then, we meet at birth the bouncing baby, destined one day to stand in our midst and to know of our esteem as one of our most distinguished colleagues in the craft of canon law. And he proudly has more hair today than he did at the beginning! My friends, it is my pleasure and privilege to announce that the 2008 Role of Law award of the Canon Law Society of America is given to a priest of the Diocese of Erie and professor of canon law at The Catholic University of America in Washington, DC: the Reverend John P. Beal, III.
Role of Law Introduction 2008 by Reverend Paul Counce The nominee for the annual Role of Law award is usually introduced only gradually, beginning with early glimpses in infancy and childhood, when none of us – including the awardee – knew that a canonical future was waiting to blossom. The hints then thrown out are crafted to keep the ultimate revelation of the honoree's identity a mystery until the last moment. I am going to do this in similar manner, yet still a bit differently. It seems to me that we can begin instead with the honoree's mysterious present, and work backwards. At the present time, this year's recipient of the Role of Law award proudly represents an institution of higher learning in this country as the official Faculty Representative to the NCAA – the National Collegiate Athletic Association. This has helped our honoree to be unofficial “mascot” of the field hockey and women's basketball teams. I think you'd agree with me that this is unusual for a canonist! Also unusual is the recipient's lifestyle: in a dormitory with almost three score undergraduates, as a faculty resident there. This seems a far cry from the quiet, placid environment one normally associates with canonical research among the dusty stacks of the library, doesn't it? Yet our honoree this evening is scholar in the best sense of the word. The recipient of our award has done more than a lion's share of research while authoring over 50 major canonical articles and commentaries. The university setting has seen this professor supervise numerous dissertations and theses, too, as well as do editing work for journals and commentaries with which we are all familiar. Of course, the core of any professorial job is teaching, and some 2 undergraduate and 14 graduate courses in canon law taught have marked our awardee's academic career over the better part of the past two decades. In these critical times as a result of the clergy sex abuse scandals, particular mention must be made of the four-weekend training courses our nominee offered to bishops already in 1995 – with others – on how to make use of the heretofore underused penal law of the Church in addressing situations of clerical misconduct and so remove those unsuitable from ministry. One of the university courses taught by our recipient was entitled Special Issues in Clergy Law, and dealt with dealing with and prosecuting abuse cases. These teaching moments have been supplemented by personal involvement in many a canonical process. In fact we can hardly call it an occasional sidelight, given the honoree's work in this area, and the voluminous advice offered to bishops, major superiors, diocesan officials, canonical colleagues, and accused clerics over the years. As we continue to work backwards, we see that other involvement with the Church also has been a hallmark of our recipient's canonical service as well. A familiar face and voice at national CLSA and regional canonical meetings, our honoree served in Tribunal ministry and as assistant chancellor. In fact, in 1983, the advent of the revised Code of Canon Law had found our recipient already hard at work studying for the licentiate and then the doctorate in canon law at The Catholic University of America. Before embarking on a canonical career path, our honoree served as high school assistant principal and before that as a high school teacher. Even earlier, this year's awardee returned to this country from graduate theological studies at The Catholic University of Louvain in Leuven, Belgium, to be ordained a priest for his home diocese in 1974. It's a safe conclusion to make that his college, high school, elementary school, and even kindergarten years prepared him well for all that was to come. At the end of this reverse biography, then, we meet at birth the bouncing baby, destined one day to stand in our midst and to know of our esteem as one of our most distinguished colleagues in the craft of canon law. And he proudly has more hair today than he did at the beginning! My friends, it is my pleasure and privilege to announce that the 2008 Role of Law award of the Canon Law Society of America is given to a priest of the Diocese of Erie and professor of canon law at The Catholic University of America in Washington, DC: the Reverend John P. Beal, III.
2006 Role of Law Citation Presented by Msgr. Daniel Hoye Since 1971, our Society has presented the Role of Law Award to a distinguished canonist. The Board of Governors is asked to select someone who has the following characteristics in the practice of canon law: Embodiment of pastoral attitude, commitment to research and study, participation in the development of law, response to needs or practical assistance, facilitation of dialogue and the interchange of ideas within the Society and other groups. The recipient of this year's Role of Law is a person who loves to play golf. Not a Tiger or a Tigress Woods perhaps, but, weather permitting, our recipient is a weekly golfer. No word on what the handicap is. Ireland is a favorite vacation spot and every February the plane leaves for some warm spot where golf is the major attraction. More ad rem, our recipient has been involved in many CLSA committees. Projects involving Lay Ministry, Diocesan Pastoral Councils and convention planning benefitted from this person's expertise. A graduate of the Catholic University of America, our recipient was awarded a JCD in 1988. Many regional meetings have benefitted from presentations made by this person. At our national conventions we have heard a major address and several seminars have been given. As one member of the Board remarked, “This person has always said yes to anything regarding CLSA.” Our recipient has taught canon law at the graduate level as well as in a seminary. This person has worked as a judge in an Archdiocese where the wind blows a lot. She then became a multiple office holder in a place where beer flows a lot: some of HER titles are Chancellor, Judge, Promoter of Justice and Director of Administrative Services. Tonight, we honor our 2006 recipient of the Role of Law, Barbara Anne Cusack.
2006 Role of Law Citation Presented by Msgr. Daniel Hoye Since 1971, our Society has presented the Role of Law Award to a distinguished canonist. The Board of Governors is asked to select someone who has the following characteristics in the practice of canon law: Embodiment of pastoral attitude, commitment to research and study, participation in the development of law, response to needs or practical assistance, facilitation of dialogue and the interchange of ideas within the Society and other groups. The recipient of this year's Role of Law is a person who loves to play golf. Not a Tiger or a Tigress Woods perhaps, but, weather permitting, our recipient is a weekly golfer. No word on what the handicap is. Ireland is a favorite vacation spot and every February the plane leaves for some warm spot where golf is the major attraction. More ad rem, our recipient has been involved in many CLSA committees. Projects involving Lay Ministry, Diocesan Pastoral Councils and convention planning benefitted from this person's expertise. A graduate of the Catholic University of America, our recipient was awarded a JCD in 1988. Many regional meetings have benefitted from presentations made by this person. At our national conventions we have heard a major address and several seminars have been given. As one member of the Board remarked, “This person has always said yes to anything regarding CLSA.” Our recipient has taught canon law at the graduate level as well as in a seminary. This person has worked as a judge in an Archdiocese where the wind blows a lot. She then became a multiple office holder in a place where beer flows a lot: some of HER titles are Chancellor, Judge, Promoter of Justice and Director of Administrative Services. Tonight, we honor our 2006 recipient of the Role of Law, Barbara Anne Cusack.
ROLE OF LAW AWARD CITATION Dr. Zabrina R. Decker Our Role of Law recipient was born in the previous millennium, and lived in the same city up until retirement. The public school system educated our recipient for elementary school and then he attended four diocesan seminaries, three of which are now closed. He did not have an outstanding academic career, but managed to obtain a Bachelor of Science degree in Biology, before Mastering Divinity and being ordained a diocesan priest in 1977. Early in his career as a parish priest, he became involved in the newly-established ministry to the separated and divorced, which led him to ask the Tribunal if it needed any assistance. He did not envision that lasting 27 years. After a two year internship at the diocesan tribunal, during which time he became a member of the Canon Law Society of America, he pursued canon law studies at St. Paul University in Ottawa, Ontario, where he obtained his Doctorate of Canon Law in 1987, under the guidance of Frank Morrisey, with Dean Jean Thorn occasionally having to scrape him off the ceiling. After the completion of his degree, he returned to the diocesan tribunal, where he served at various times as Advocate, Promoter of Justice, Defender of the Bond, Adjutant Judicial Vicar, and Judicial Vicar. He also had several terms on the Interdiocesan Court of Appeals. For the last ten years, the job of Vicar for Canonical Services was added to his duties, during which time he had to learn the ins and outs of penal law, often with the help of Bill Woestman's books. He also served in parochial ministry at two different parishes, mostly in intercultural settings, and participated in various types of canonical education throughout the diocese, as well as on the presbyteral council and college of consultors. After leaving full-time canonical ministry, he was appointed chaplain to the Catholic students in a university setting, where he served until his retirement in 2017. From 1996 to 2009, he was an adjunct professor at the only diocesan seminary he has not closed. Since 2005, he has taught canon law at Catholic Theological Union and, since 2009, in the Catholic University of America's summer program. He has given several pre-convention workshops for the CLSA, as well as a number of seminars and major addresses. His articles have appeared in The Jurist and Studia canonica, among other publications. I am honored to present this year's Role of Law Award to Monsignor Patrick Lagges.
Role of Law Award Citation Dr. Zabrina R. Decker Our Role of Law recipient was born in the previous millennium, and lived in the same city up until retirement. The public school system educated our recipient for elementary school and then he attended four diocesan seminaries, three of which are now closed. He did not have an outstanding academic career, but managed to obtain a Bachelor of Science degree in Biology, before Mastering Divinity and being ordained a diocesan priest in 1977. Early in his career as a parish priest, he became involved in the newly-established ministry to the separated and divorced, which led him to ask the Tribunal if it needed any assistance. He did not envision that lasting 27 years. After a two year internship at the diocesan tribunal, during which time he became a member of the Canon Law Society of America, he pursued canon law studies at St. Paul University in Ottawa, Ontario, where he obtained his Doctorate of Canon Law in 1987, under the guidance of Frank Morrisey, with Dean Jean Thorn occasionally having to scrape him off the ceiling. After the completion of his degree, he returned to the diocesan tribunal, where he served at various times as Advocate, Promoter of Justice, Defender of the Bond, Adjutant Judicial Vicar, and Judicial Vicar. He also had several terms on the Interdiocesan Court of Appeals. For the last ten years, the job of Vicar for Canonical Services was added to his duties, during which time he had to learn the ins and outs of penal law, often with the help of Bill Woestman's books. He also served in parochial ministry at two different parishes, mostly in intercultural settings, and participated in various types of canonical education throughout the diocese, as well as on the presbyteral council and college of consultors. After leaving full-time canonical ministry, he was appointed chaplain to the Catholic students in a university setting, where he served until his retirement in 2017. From 1996 to 2009, he was an adjunct professor at the only diocesan seminary he has not closed. Since 2005, he has taught canon law at Catholic Theological Union and, since 2009, in the Catholic University of America's summer program. He has given several pre-convention workshops for the CLSA, as well as a number of seminars and major addresses. His articles have appeared in The Jurist and Studia canonica, among other publications. I am honored to present this year's Role of Law Award to Monsignor Patrick Lagges.
Reverend Kevin McKenna was ordained a priest for the Diocese of Rochester in 1977. After serving two parishes he was asked to study canon law at the Gregorian University in Rome, where he earned his JCL. In 1990 he earned his JCD at St. Paul University in Ottawa. Fr. McKenna served as Vice-Chancellor, Chancellor and Director of Legal Services for the Diocese of Rochester until 2000 when he was appointed pastor of St. Cecilia Church. He also served the CLSA as Vice-President, President and Past President, and was presented with the Role of Law Award in 2007. The followng year, Fr. McKenna was appointed as Pastor/Rector of Sacred Heart Cathedral Community. On top of this service to the Society and hie diocese, Fr. McKenna is author of numerous articles (such as those in America magazine) and books, including A Concise Guide to Canon Law and A Concise Guide to Catholic Social Teaching. He also serves as general editor for Ave Maria Press' Concise Guide series. Fr. McKenna is also a proud, die-hard Toronto Bluejays fans!
Reverend Kevin McKenna was ordained a priest for the Diocese of Rochester in 1977. After serving two parishes he was asked to study canon law at the Gregorian University in Rome, where he earned his JCL. In 1990 he earned his JCD at St. Paul University in Ottawa. Fr. McKenna served as Vice-Chancellor, Chancellor and Director of Legal Services for the Diocese of Rochester until 2000 when he was appointed pastor of St. Cecilia Church. He also served the CLSA as Vice-President, President and Past President, and was presented with the Role of Law Award in 2007. The followng year, Fr. McKenna was appointed as Pastor/Rector of Sacred Heart Cathedral Community. On top of this service to the Society and hie diocese, Fr. McKenna is author of numerous articles (such as those in America magazine) and books, including A Concise Guide to Canon Law and A Concise Guide to Catholic Social Teaching. He also serves as general editor for Ave Maria Press' Concise Guide series. Fr. McKenna is also a proud, die-hard Toronto Bluejays fans!
Sister Sharon Euart is a Sister of Mercy who has served as the Executive Director of the Resource Center for Religious Institutes in Silver Spring, MD, since 2014. Prior to that, she was the Executive Coordinator of the Canon Law Society of America. Sister Sharon has served the CLSA in a number of other capacities, most notably as President of the society, as chairperson of the Publications Advisory Board, and as editor for a number of Societal publications. Sr. Sharon was the CLSA's 2015 Role of Law Award recipient.
Role of Law Citation Reverend Monsignor Michael A. Souckar Since 1973, it has been the practice of the Canon Law Society of America to confer its highest honor on someone who has contributed in a particularly positive manner to the high ideals of this scholarly society, at service to the Church's mission to preach the Gospel of Jesus Christ and to exercise justice in accord with the truth and tempered by mercy. As the Universal Church observes the Year of Consecrated Life, this year's Role of Law recipient has given faithful witness to the evangelical counsels of poverty, chastity and obedience for 49 years. Our honoree, a native of Pawtucket, Rhode Island, was taught by religious sisters in secondary school and later entered religious life with the same community. Her vocation has led her to roles of service in the Church that she never could have anticipated, even after earning both the licentiate and doctorate in canon law at The Catholic University of America. Going beyond the usual works undertaken by women religious, our honoree was repeatedly called upon to serve the Church in ever more challenging and significant roles. Becoming the first woman religious to have “this” or “that” job became so common that it was, I dare say, no longer exceptional. Her talents, skills, knowledge and dedication to the mission of the Church were her credentials. And that was enough. As a teacher, our honoree has been a professor of canon law at CUA (where she taught religious law to my JCL class, the class of 1994). We were only one small group of many whom she has taught, whether in the classroom, at convention seminars for the CLSA or other Societies – canonical and non-canonical – in published scholarly articles, or simply by a friendly word of instruction, guidance or counsel. As an executive, our honoree has held roles of responsibility at the diocesan level, within her religious community, for groups of religious communities, and for the Conference of Bishops. With determination and with grace she has guided these respective authorities, even during turbulent times, to make decisions in accord with the Gospel and the law of the Church, and she has most ably assisted in the implementation of those decisions. She has been a loyal and active member of this society since 1984, and has served on several committees, the Board of Governors, and in the role of Executive Coordinator and President. Dear friends, during this Year of Consecrated Life, please join me in congratulating the 2015 recipient of the Role of Law Award, a Sister of Mercy and a daughter of the Church, Sister Sharon Euart, R.S.M.
Monsignor John Alesandro is a priest of the Diocese of Rockville Center, New York. His unwavering dedication to the Church is obvious when he speaks of the many ministerial roles he has played, both in his diocese and in the Canon Law Society of America. In addition to his canon law expertise, Monsignor Alesandro earned a degree in civil law in his "spare time" in the 1990s. He also is an accomplished pianist and a connoisseur of Bernard Lonergan's theological writings. It was no real surprise that Monsignor Alesandro was honored by the CLSA in 1986 as the Role of Law Award recipient. He continues to inspire and encourage young canonists in the United States and throughout the world today.
In 1986 when he won the CLSA's prestigious Role of Law Award, Monsignor John Alesandro delivered an abridged version of his prepared response. The full talk was published in the CLSA Proceedings from the 1986 Convention. In this recording, Msgr. Alesandro reads his unabridged talk, injected with the sense of humor that his friends and fellow canonists love about him. This recording was made on May 14, 2020.
Father Paul Golden, the CLSA's 2005 Role of Law honoree, is a priest and a religious. He was born in San Francisco, California in 1939, entered the Congregation of the Mission, the Vincentians, in 1961 and was ordained a priest in 1965. Active in his religious community, he has served the Vincentians and their ministries in many capacities: as teacher, formation director, college professor and president, and as Founding Director of Vincentian Canonical Services. In addition to involvement with his religious community Fr. Paul has remained an active member and representative of our Society for over 45 years. He served as the BOG Secretary in 1973-74, Vice-President in 1987-88 and President in 1988-89. He has been a presenter at conventions and contributed generously to Roman Replies on a variety of topics of interest to canonists and church leaders. We are immeasurably grateful to Fr. Paul Golden for his dedication and pastoral presence in our Society.
Matt Fischer is the CEO of Dentagrafix, and Dr. Eric Sacks is the Founder and President. The company sells FDA-compliant, BPA-free decorated plastic sheets for thermoforming that are used to fabricate unique, personalized, clear retainers, aligners, mouth guards, and other dental appliances. Matt Fischer holds a Bachelor of Arts degree in Economics from Indiana University Bloomington & an MBA from Babson College - Franklin W. Olin Graduate School of Business. Matt has a successful career working with companies like DV Trading, BlackRock, CLSA, Deutsche Bank, Prudential Equity Group, Independent Research Group LLC, and Merrill Lynch. Dr. Eric Sacks received a Bachelor of Arts degree from Tulane University, and earned his Doctorate of Medical Dentistry at Rutgers University School of Dental Medicine, with honors (OKU). He also attended Montefiore Medical Center's Graduate Orthodontic Program where he attained his Post Doctoral Certificate in Orthodontics and served as the hospital's chief orthodontic resident. He is a Board-Certified Orthodontist and is the owner of Sacks Orthodontics, a private practice in Livingston, NJ. In this episode… Retainers don't come cheap, so when your kid needs to wear a retainer, your number one concern is, will they wear it even when you're not looking? Matt Fischer and Dr. Eric Sacks of Dentagrafix have found a way to make retainers more affordable while at the same time, making it more appealing to kids and teenagers so that they would be more inclined to wear it. Not only that, they say that their retainers are guaranteed to last long and are 1000% BPA-free and FDA-compliant. In this week's episode of the In Your Face Podcast, co-hosts Craig Weiss and Dr. Blair Feldman are joined by Matt Fischer and Dr. Eric Sacks where they talk about using thermoformable plastic sheets to make colored retainers, the process they went through in creating this product, and what sets it apart from other retainers in the market. Stay tuned.
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