Podcasts about institutional

Joey Tumminello with Marcus & Millichap's Institutional Property Advisors Group shares his insight on what the “smart buyers” (REIT's, pension funds, life insurance and large family offices) are buying or NOT buying. Institutional-grade real estate is Class A or Class A+ property that generally has minimal risk of deteriorating or becoming obsolete during the investment holding period because the properties are brand new, have state-of-the-art systems, and the best amenities. These type of buyers set the pace for the entire industry with buying or selling.   To contact Joey Tumminello: jtumminello@ipausa.com   Are you interested in learning more about how Multifamily Syndications work? Please visit www.spiadvisory.com to learn more about Michael Becker's Real Estate Syndication business with SPI Advisory. If you enjoyed this discussion…. Please leave us a 5-STAR RATING on iTunes.

Edited highlights of our full conversation. Here's a question. How do you say goodbye? This week's guest is Brad Simms. He's the President and CEO of GALE Partners. They describe themselves as strategic storytellers. GALE was founded in 2014 with seven people in Canada. Today, the agency is 734 people across 11 offices, and was this year named #5 in the Ad Age A List, and as Adweek's Breakthrough Media Agency of the Year. GALE has above average talent retention rates. But over the course of nine years, something like 1,300 people have spent time at the agency. Put another way, 600 people have left since the company started. The creative industries are a case study in dynamic organizations. Change is not just inevitable but essential. It is both the fuel and consequence of creative thinking and innovation. In that environment, people will come and others will leave. And that is as it should be, both for personal growth and the growth of the business. There are two variables in that equation. When they leave and how. The question of when is for another day. The question of how is as important. And often significantly more so. For many years, the view was that four or five jobs in a thirty-five year career represented a reasonable timeline. Time to learn, time to influence and to impact. A win-win. Back then, the idea that you would return to a company that you had worked for before was limited only to those few who realized that leaving had been a mistake and raced back to the safety of the known. Often within days. Today, creating the conditions in which employees can boomerang is a practice so common that it has an actual name. And companies with a proven ability to rehire former employees gain distinctive competitive advantages. Institutional knowledge, cultural fit, team casting, and speed of impact being just four. Today, when someone leaves, the question of whether you, as the leader, are respectful and grateful for the time they spent at your company, will have more impact on whether they want to come back than anything you do while they are there. And more to do with who else might want to join you in the first place.

Here's a question. How do you say goodbye? This week's guest is Brad Simms. He's the President and CEO of GALE Partners. They describe themselves as strategic storytellers. GALE was founded in 2014 with seven people in Canada. Today, the agency is 734 people across 11 offices, and was this year named #5 in the Ad Age A List, and as Adweek's Breakthrough Media Agency of the Year. GALE has above average talent retention rates. But over the course of nine years, something like 1,300 people have spent time at the agency. Put another way, 600 people have left since the company started. The creative industries are a case study in dynamic organizations. Change is not just inevitable but essential. It is both the fuel and consequence of creative thinking and innovation. In that environment, people will come and others will leave. And that is as it should be, both for personal growth and the growth of the business. There are two variables in that equation. When they leave and how. The question of when is for another day. The question of how is as important. And often significantly more so. For many years, the view was that four or five jobs in a thirty-five year career represented a reasonable timeline. Time to learn, time to influence and to impact. A win-win. Back then, the idea that you would return to a company that you had worked for before was limited only to those few who realized that leaving had been a mistake and raced back to the safety of the known. Often within days. Today, creating the conditions in which employees can boomerang is a practice so common that it has an actual name. And companies with a proven ability to rehire former employees gain distinctive competitive advantages. Institutional knowledge, cultural fit, team casting, and speed of impact being just four. Today, when someone leaves, the question of whether you, as the leader, are respectful and grateful for the time they spent at your company, will have more impact on whether they want to come back than anything you do while they are there. And more to do with who else might want to join you in the first place.

What happens when half the country no longer trusts its major institutions? The fate of a late-stage Republic. What would a nation interested in saving itself to the day after the release of the Durham report? Mason Sexton, stock market soothsayer on the coming economic collapse. Prediction: NYC will get a large grant from the federal government. See omnystudio.com/listener for privacy information.

Chris Ellis, Head of Strategic Initiatives at FactSet and Tim Rice, founder of Coin Metrics join the show. In this episode we discuss: The partnership between FactSet and Coin Metrics how the companies are jointly going to market. How FactSet thinks about partnerships and how digital assets has evolved as an area of focus at the company. The features and functionality that FactSet users are asking for as it relates to crypto/digital asset data. The future of asset tokenization and the regulatory landscape in the United States. On-chain data and how Coin Metrics sees this category evolving. To learn more about the FactSet/Coin Metrics partnership visit: https://investor.factset.com/news-releases/news-release-details/factset-and-coin-metrics-collaborate-deliver-digital-assets-data To learn more about Coin Metrics visit www.coinmetrics.io  

This week, we are welcoming Ross Clennett and Johnny Washington to our Legends on Legends Series.Ross Clennett is the director of RossClennett.com and joins us from Mornington, Australia, just outside of Melbourne. Ross helps high performing recruiters level up to become high performing recruitment leaders. He is passionate about the importance of high performance in the workplace and has worked in and handled high performance teams throughout his career amassing well over two thousand hours of professional coaching experience. You can find out more about Ross by going to RossClennett.com or following him on twitter, where his handle is @rossclennett.Johnny Washington is the founder of J. Washington Company Financial Services and joins us from McKinney, Texas, right outside of Dallas. Johnny leads his team and is committed to bringing the highest standard of service to their corporate, individual, and Institutional clients. At J. Washington Company, their philosophy and culture is one of simplicity which compliments their service. They are committed to helping their customers become financially independent and help those clients meet their goals. You can find more about his company and services by going to jwashington.com.We are continuing our “Legends on Legends'' series. At Influential U, we have a group that is held in our highest regard and admiration- this group is our Esteemed Alumni. Esteemed Alumni are those who have completed our four-year curriculum in transactional competence. The most ambitious of our Esteemed Alumni, our Green Berets, if you will, study in a program known as Legends. Our Legends are often top performers in their fields and have experienced a level of satisfaction that only comes from years of deliberate practice and study. This program is led in fellowship with co-founders Kirkland Tibbels and John Patterson and this initiative includes a wide range of strategies to advance and expand their own application of Transactional Competence and pave the path in the study of Transactional Leadership.Over the course of the next few months, we'll have special episodes of the Influential U Podcast. I'll be introducing our two guests and then getting out of the way so that you may experience the expertise and communication between two of our participants. If you listen closely, I believe that you'll hear a level of Transactional Leadership that is quite novel in day to day conversation.

Jump into the next conversation with Dan and Jeffrey as they explore the impact of technologies like ChatGPT on productivity, creativity, and critical thinking, while emphasizing the importance of context and the human touch. From the fashion world's hype about sustainability to the success of the Four Seasons hotel chain, this episode delves into the significance of boundaries, institutional wisdom, and the role of technology in shaping entrepreneurial businesses and our everyday lives. In This Episode: Dan and Jeffrey discuss ChatGPT, a popular tool among entrepreneurs for idea-packaging and tackling repetitive tasks.They express skepticism about ChatGPT's practical uses beyond routine tasks, with concerns about declining writing and literacy skills.Process and context matter. Shortcuts may hinder critical thinking.An obsession with speed and efficiency may lead to a loss of quality in education and creative work, with technology and “hacks” potentially stifling original thought.It's “insidious,” says Jeffrey, how our behavior is being corralled by Big Tech algorithms that encourage us to consume without thinking.Can fashion be sustainable? What about finding a personal style you can stick with?The Four Seasons hotel chain exemplifies timeless sustainability with its consistent quality and customer service.Establishing your own standards versus the limitations of commoditized thinking.Technology boosts productivity but may also increase workload and compromise quality, as seen in the legal and architectural industries.The significance of the microchip and its impact on productivity, with reference to the New York Times article that gave birth to “Moore's Law.”Boundaries and limitations are crucial for quality, with technological advancements supporting that quality, not just speed.Institutional wisdom is the key to Real Intelligence, as opposed to Artificial Intelligence. Resources: Learn more about Jeffrey Madoff Learn more about Dan Sullivan and Strategic CoachGordon Moore's original New York Times article (PDF)

Nora Szentivanyi, Greg Fuzesi and Michael Hanson discuss the tightening in US, Euro area and EM credit conditions through the lens of the latest bank lending surveys, the implications for the growth outlook and central bank decisions. While these surveys show that that credit conditions did tighten further last quarter and loan demand continued to fall, the moves were not as severe as some might have feared. Indeed, against a backdrop of continued resilience in recent activity data, the latest surveys do not indicate an imminent break in growth. Rather, we expect this drag to accumulate over the year, contributing to a mild year-end recession in the US in our base case.   Speakers Nora Szentivanyi, Economic Research Greg Fuzesi, Economic and Policy Research Michael Hanson, Economic and Policy Research   This podcast was recorded on 10 May 2023. This communication is provided for information purposes only. Institutional clients can view the related report https://www.jpmm.com/research/content/GPS-4409223-0, https://www.jpmm.com/research/content/GPS-4408145-0, https://www.jpmm.com/research/content/GPS-4402074-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.

In this episode, we talk with ArCasia D. James-Gallaway about her recent article in History of Education Quarterly. Open-access link to the article: https://www.cambridge.org/core/journals/history-of-education-quarterly/article/wacos-first-black-school-board-trustees-navigating-institutional-white-supremacy-in-1970s-texas/4CDF3DB079FE51B2B3EE7CE1693D0721

In this week's Research Rap of the Global Data Pod, Bruce Kasman is joined by Joe Lupton to discuss the launch of our natural language processor (NLP) tracking Fed, ECB and BoE communication. The output of this analysis is synthesized in the J.P. Morgan Hawk-Dove Score (HDS) that generates a deep archive of central bank policy statements and speeches. It tracks well the generally perceived shifts in central bank attitudes over the past few decades. At this week's meetings the HDS highlights the dovish tilt at both central bank press conferences. For the Fed, the HDS fell to its least hawkish stance in nearly a year. For the ECB, the press conference maintains a more hawkish stance than last year's meetings.        This podcast was recorded on May 4, 2023.  This communication is provided for information purposes only. Institutional clients can view the related report at www.jpmm.com/research/content/GPS-4395521-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.  

The Fed moved towards a pause this week as it sees clouds on the horizon related to bank stress and the debt ceiling deadline. But the data continues to emphasize that the battle to lower is far from done. Speakers: Bruce Kasman Michael Feroli This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.  

Arindam Sandilya and Patrick Locke discuss the FX outlook amid banking sector stress and debt ceiling jitters in the US.   This podcast was recorded on 05 May 2023. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-4406134-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2022 JPMorgan Chase & Co. All rights reserved.

Scandi economist Morten Lund joins Currency Strategist James Nelligan to give an overview of the FX outlook with the economic backdrop in mind for Scandi and UK markets.     This podcast was recorded on 3 May 2023. This communication is provided for information purposes only. Institutional clients can view the related reports at: https://www.jpmm.com/research/content/GPS-4396176-0 https://www.jpmm.com/research/content/GPS-4387929-0 https://www.jpmm.com/research/content/GPS-4395340-0 https://www.jpmm.com/research/content/GPS-4396665-0 https://www.jpmm.com/research/content/GPS-4378202-0 https://www.jpmm.com/research/content/GPS-4399379-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.  

How US Crypto Regulations Impact Institutional Adoption of Digital Assets This April has had crypto industry stakeholders glued to their phones watching the regulatory developments from the SEC and the proposed legislation around stablecoins.  In this episode, Ian Andrews is joined by an avid reader of reports coming from USA regulatory authorities regarding crypto,  Sam ten Cate (Managing Director of State Street Digital, State Street). Sam discusses how major bank and crypto exchange failures have had an impact on the regulatory conversation in the US and explains key concepts related to institutional adoption like segregation of activity and tokenization.  Sam explains how State Street started innovating in the digital asset space and provides results from their recent survey to show the current state of institutional interest in the crypto market during a very chaotic and regulatory heavy 2023. Minute-by-minute episode breakdown (2:35) – How announcements from the OCC, FDIC and Federal Reserve in the USA set the stage for a chaotic 2023 for the crypto industry  (7:15) – Understanding how the crypto industry is connected to the demise of SVB, Signature Bank and Credit Suisse  (10:40) – Discussion on how to mitigate risk as a node operator when counterparties are unknown (13:30) -How State Street has innovated from being the first to design the exchange-traded fund (ETF) to navigating the digital asset space (15:45) – What is Segregation of Activity and how it could have kept crypto exchanges from failure (18:35) - Explanation of the FedNow service and what to expect from the launch in 2023 (21:10) - Tokenization of every asset? (28:45) – What is the current state of institutional interest in the crypto market during the crypto winter (30:25) - How will regulations impact the thriving stablecoin ecosystem and the future of digital identity  Related resources Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key. Conference: Chainalysis Links 2023 in Amsterdam (May 9 & 10 - Register Now)   Website: State Street: Digital Asset Services and Tokenization Chainalysis Blog: The MiCA Marathon: Are we reaching the finishing line? State Street Report: State Street's Digital Assets and Investment Study 2022-2023 Policy Statement: Policy Statement on Section 9(13) of the Federal Reserve Act Report: BIS: Application of the Principles for Financial Market Infrastructures to stablecoin arrangements Press Release:  Joint Statement on Crypto-Asset Risks to Banking Organizations Reports: OCC Interpretive Letters | #1170 | #1172 | #1174 | #1179 YouTube: Chainalysis YouTube page - Links NYC 2023 videos updated  Twitter: Chainalysis Twitter: Building trust in blockchain Speakers on today's episode Ian Andrews * Host * (Chief Marketing Officer, Chainalysis)  Sam ten Cate (Managing Director of State Street Digital, State Street) This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein. Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material. Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material.  Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company. 

Dr. Ashby Monk is the Executive & Research Director of the Stanford Research Initiative on Long-Term Investing. Ashby has studied and advised the largest asset owners in the world for more than twenty years with a particular interest in how to improve outcomes for their beneficiaries and the world. Ash also serves as the Head of Research at Addepar, a fintech company that helps investors make smarter decisions. He has twice appeared on the show – as the 29th guest back in 2017 and again two years ago – and those conversations are replayed in the feed.   Our conversation starts with a recent paper Ashby published called Investor Identity: The Ultimate Driver of Returns. We discuss the descriptors of identity and enabling factors that determine each investor's fingerprint. From there, we dive into technology as an enabler and how technological innovation can improve returns. We then turn to ESG investing and another of Ashby's recent papers, Submergence = Drawdown + Recovery, that discusses the importance of considering the combined drawdown and recovery period in making investment decisions.   Show Notes:   04:37 - Ashby's recent research 07:42 - Institutional investor identity 10:07 - Best practices 11:35 - People, process and information 14:44 - Future of governance 17:03 - Role of technology in the investment office 21:11 - GPS for portfolios and markets 26:25 - Impact of culture on technology 31:03 - Fueling innovation in investment offices 39:43 - Collaboration 43:26 - ESG 50:53 - Additional research insights 59:00 - Closing questions   Learn More  Follow Ted on Twitter at @tseides or LinkedIn  Subscribe to the mailing list  Access Transcript with Premium Membership 

Joel Kruger, a trader, collector of digital art and bitcoin, and strategist at LMAX Group, discusses his background in investment banking and how he got involved with LMAX Group. He provides an overview of the institutional exchange's FX and cryptocurrency offerings and his role as a strategist at the LMAX Group.   Why you should listen Joel shares his thoughts on traditional markets such as equities and currencies, noting concerns about inflation potentially putting pressure on equity markets. On the other hand, he is optimistic about the outlook for cryptocurrencies in 2023 due to positive fundamentals that are specific to crypto. While there are regulatory headwinds that need to be addressed before full institutional adoption can take place, Joel believes that all signs point towards increased interest in this asset class from larger players looking to allocate down the line. Joel Kruger shares his views on the SEC's mixed commentary and lack of regulatory clarity for the crypto industry. He emphasizes the importance of providing a regulatory-compliant structure for clients, while also acknowledging that regulators don't want to make any hasty decisions. Kruger is optimistic about the potential in digital assets, including Bitcoin and Ethereum, which he sees as complementary to each other. He also discusses NFTs and believes that their current bearish market is just another cycle that will eventually lead to a flight to quality within the space. Finally, Kruger encourages investors to apply calmness during periods of excess craziness when believing in an asset's value proposition. Supporting links Bitget VIP Link LMAX Digital Andy on Twitter  Brave New Coin on Twitter Brave New Coin   If you enjoyed the show please subscribe to the Crypto Conversation and give us a 5-star rating and a positive review in whatever podcast app you are using.  

Join Spencer as he sits down with Clay Collins -- a knowledgeable and investor-friendly real estate agent in Birmingham, Alabama -- to uncover the secrets of successful real estate investing in the city. In this episode, you'll gain valuable insights into: The various neighborhoods in Birmingham and their classes Institutional investor updates Actionable tips and strategies employed by successful investors Don't miss out on this opportunity to learn from an expert in the field. Tune in now!

Dr. Ashby Monk is the Executive and Research Director of the Stanford University Global Projects Center. Ashby was named by CIO Magazine as one of the most influential academics in the institutional investing world. His current research focuses on the design and governance of institutional investors, with specialization on pension and sovereign wealth funds. Ashby's most recent book, The Technologized Investor, is a practical guide showing how institutional Investors can gain the capabilities for deep innovation by reorienting their strategies and organizations around advanced technology. He also recently released a significant white paper on transparency and innovation for institutional investors for the Biden Administration.   Our conversation follows-up an early podcast, Episode 29, which is replayed in the feed.  This time around, we discuss the power of asset owners, issue of transparency, need for innovation and obstacles to achieving it, how and when to create change, examples of climate work at New Zealand Super, the Australian Super Funds, and Canadian Pension funds, and Ashby's handful of technology start-ups focusing on these challenges.   Learn More  Follow Ted on Twitter at @tseides or LinkedIn  Subscribe to the mailing list  Access Transcript with Premium Membership 

Sidney Powell, CEO and Co-Founder of Maple Finance came to my show to to discuss how they tolenize T-bills and other assets and why he thinks DeFi can become 100 times larger than it is right now.  Sidney Powell: https://twitter.com/syrupsid ►►THE DAILY CLOSE BRAND NEW NEWSLETTER! INSTITUTIONAL GRADE INDICATORS AND DATA DELIVERED DIRECTLY TO YOUR INBOX, EVERY DAY AT THE DAILY CLOSE. TRADE LIKE THE BIG BOYS.

We discuss the US rates and global FX outlook ahead of the upcoming central bank meetings and US employment report.    Speakers Meera Chandan, Co-Head of Global FX Strategy Jay Barry, Co-Head of US Rates Strategy   This podcast was recorded on 28 April 2023. This communication is provided for information purposes only. Institutional clients can view the related report https://www.jpmm.com/research/content/GPS-4398604-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.

Speakers  Natasha Kaneva, Head of Global Oil and Commodities Research Thomas Palmer, Vice President of US Food Producers and Food Retailers This podcast was recorded on Apr 28, 2023. Wholesale diesel price in NY Harbor fell 37% from year ago levels, spurring worries of an impending recession. But the weakness in the US demand for diesel—fuel used in everything from trucks to construction equipment—is not a new phenomenon. Similar to gasoline, we observe that American truckers have been driving more on less. Data show that while demand for petroleum diesel has stagnated, consumption of biofuels like biodiesel and renewable diesel has been growing. In 2022, biofuels accounted for 4% of total US diesel supply, a share that is projected to increase to 15% by 2030.   This communication is provided for information purposes only. Institutional clients can view the related reports at https://www.jpmm.com/research/content/GPS-4395279-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.  

As we embarked into the 2020's, we were met with the largest sociological and psychological experiment conducted in modernity. A “global pandemic,” declared by an international institution with unelected officials over-exerting their authority across the world, shut down everything from your local coffee shop, to five star luxury destinations thousands of miles away. It was a test of the communications infrastructure, to see how far and fast “critical” information would travel. It assessed how political authorities both local and federal, mainstream media outlets, and corporations would respond in a “once-in-a-generation” crisis moment. It of course tested the citizens of many nations their level of compliance, or more explicitly, obedience to these higher authorities. Then came additional levels of tests on society via the vaccines and boosters in response to the variants.    As a modern day temple of sorts, hospitals became the center of attention during this period for obvious reasons. Institutional health authorities provided “protocols” to follow, attached with financial incentives, in response to stress, pressure, and uncertainties experienced in hospitals across the world. But what was meant to be a guide to protect and save, may have turned out to be a nefarious and discriminatory justification to kill.   We all know someone who passed away during the pandemic. And I'm sure many of us question the validity of labels like “covid” attached to those friends and family we lost if they were declared as such. And I am certain, that there are untold heartbreaking stories from the last 3 years regarding these issues. But as the saying goes, God is good All the time, and all the time God is good, which means even the worst tragedies can be a beacon for goodness and truth.    It is with this heart that we welcome the authors of The Protocol That Kills, A True Crime Story, the persistent widow of our late friend and beloved colleague Rob Skiba, Shiela Skiba and co-authors Roberta and Allen Stalvey.   LINKS Parable of the Persistent Widow (Luke 18) The Protocol That Kills Website: https://theprotocolthatkills.com Preview the Book! Protocol That Kills: A True Crime Story Our Patient Rights: https://www.protocolkills.com/patient-documents NIH: The pandemic of the unvaccinated: a Covid-19 ethical dilemma White House: Biden remarks, “…pandemic of the unvaccinated…” Video: The Truth About COVID-19 Death Certificates | Dr. Scott Jensen

Despite downside surprises, there is plenty of constructive signals in this week's set of data releases. Global GDP growth last quarter is tracking 1%-pt above potential and 2%-pt above start-of-year expectations. While momentum is slowing, the sources of lift still point to resilience this quarter. Next week's Fed and ECB to deliver another round of hikes. Speakers: Bruce Kasman Joseph Lupton This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.

How do you get a job at a top quant shop?  With a little love from grandma?! How do you navigate a systematic strategy in the fast-moving world of digital assets? On this episode of The Derivative, Sarah Schroeder of Coinbase Asset Management (formerly One River Digital) covers a range of topics related to crypt/digital assets, including the formation and vision of One River Digital, its purchase by Coinbase, the importance of counterparty risk management, trend-following and directional strategies, allocation to digital assets, central bank digital currencies, and the role of women in the hedge fund space.  Schroeder shares insights into her experience working at AQR as a portfolio valuer and discusses the unique alpha models for different tokens, investment strategies, and fundamentals in the digital space. The conversation also touches on the potential for significant directional shifts in digital assets, the barrier to entry into the space, the personal and professional use of crypto, and the role of central banks launching their own coins. Shroeder closes the episode with advice for young women getting into the hedge fund space and the importance of having good mentors in one's career — SEND IT! Chapters: 00:00-01:42=Intro 01:43-13:13= Go Grandma! Playing chicken with Goldman & AQR 13:14-24:08= Alt Market Trend Following @AQR to Crypto Curiosity 24:09-35:15= One River Digital bought by Coinbase / Asset Mgmt for Institutional investors 35:16-45:27= FTX Crisis, counterparty risk,  an urgency to trade & choosing your vessel for choppy seas 45:28-01:00:18= A unique model to Trend Following, shifting risks, monetizing trends & driven by retail 01:00:19-01:14:30= Directional Strategies, going short with digital & finding liquidity in the tokens 01:14:30-01:26:26= Trend allocators in long token exposure, mixed connotations about “Crypto” & having a slice of digital in your portfolio 01:26:27-01:34:38= A coin for everyone: Central banks & digital currencies – Does privacy go away or is it a social good? 01:34:39-01:44:58= Women in the hedge fund space: Curing periods, credibility & good counsel Visit oneriveram.com, coinbase.com and the coinbase blog for more information Don't forget to subscribe to ⁠⁠⁠⁠The Derivative⁠⁠⁠⁠, follow us on Twitter at ⁠⁠⁠⁠@rcmAlts⁠⁠⁠⁠ and our host Jeff at ⁠⁠⁠⁠@AttainCap2⁠⁠⁠⁠, or ⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠ , and ⁠⁠⁠⁠Facebook⁠⁠⁠⁠, and ⁠⁠⁠⁠sign-up for our blog digest⁠⁠⁠⁠. Disclaimer: This podcast is provided for informational purposes only and should not be relied upon as legal, business, or tax advice. All opinions expressed by podcast participants are solely their own opinions and do not necessarily reflect the opinions of RCM Alternatives, their affiliates, or companies featured. Due to industry regulations, participants on this podcast are instructed not to make specific trade recommendations, nor reference past or potential profits. And listeners are reminded that managed futures, commodity trading, and other alternative investments are complex and carry a risk of substantial losses. As such, they are not suitable for all investors. For more information, visit ⁠⁠⁠⁠www.rcmalternatives.com/disclaimer

Jonny Goulden and Saad Siddiqui discuss the role of the USD as a dominant currency, the changing nature of EM foreign reserves, and the impacts of the US debt ceiling discussion on EM fixed income assets. Speakers Jonny Goulden, Emerging Markets Strategist Saad Siddiqui, Emerging Markets Strategist This podcast was recorded on April 27, 2023. This communication is provided for information purposes only. Institutional clients can view the related report at www.jpmm.com/research/content/GPS-4396295-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.

6pm - Rantz: School Board cuts music class over ‘white supremacy,' ‘institutional violence' // Bud Light Sales Down 17% After Dylan Mulvaney Partnership // American fugitive Nicholas Rossi who faked his own death and fled to UK to avoid rape charge steams his glasses up with rage, as he tells Dateline he can't walk while insisting he's Brit called Arthur Knight // John talks about his own experience with people believing he was deadSee omnystudio.com/listener for privacy information.

Deborah Smith is the co-founder and CEO of The CenterCap Group, a boutique investment bank providing strategic advisory, capital-raising, and consulting-related services to private and public sector companies and fund managers across the real estate industry. In this episode, Deborah discusses which investments are better suited for the high net worth vs. institutional categories, the advantages to working with institutional capital, the effect COVID had on commercial real estate.   Deborah Smith | Real Estate Background Co-founder & CEO of The CenterCap Group Based in: Stamford, CT Say hi to her at:  LinkedIn Best Ever Book: House of Cards by William Cohan Greatest Lesson: Don't make investment decisions based on emotions.     Click here to learn more about our sponsors: MFINCON BAM CAPITAL DEAL MAKER LIVE

On this episode of Archebyte we are joined by Aya Kantorovich, Co-founder and Co-CEO of Fractal, to discuss crypto's history, what it's like to be a founder in the industry, and the importance of building institutional grade crypto infrastructure.As a former founding member of FalconX and current Co-CEO of Fractal Clearing, Aya deeply understands the role that institutions play in the world of crypto. She begins our conversation by highlighting exactly that before giving us a quick (but fantastic) history lesson on the crypto industry as a whole.As Aya explains, institutions have been playing a major role in the space for several years now. They bring with them not only capital and knowledge of the traditional financial world, but needs around privacy and quality assurance that require more robust tools to be created.While we have certainly seen some less savory companies give cefi a bad rap, Aya believes that we are beginning to see a new wave of robust, institutional grade crypto tooling that will more strongly honor crypto's fundamentals of transparency and self custody. We close out our talk by exploring how Fractal is helping bring this vision to reality, explaining the need for disintermediation, and discussing the many hats that founders wear. 

Speakers: Nora Szentivanyi, Michael Hanson Nora Szentivanyi and Michael Hanson discuss the global CPI data for March and the outlook for 2Q and beyond.    This communication is provided for information purposes only. Institutional clients can view the related reports at https://www.jpmm.com/research/content/GPS-4392511-0 and https://www.jpmm.com/research/content/GPS-4385270-0,  for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.  

In order for investors to take you seriously, you need to check all the boxes when it comes to institutional quality. If you want to close a deal, you need to be adding value where no one else is while establishing and maintaining your tone of professionalism. See the full video here to discover what it truly means to become institutional quality:#institutionalquality #institutional #quality #capitalraising #raisingcapital #investingtips #realestateinvesting #familyoffice ------------The largest association in the family office wealth management industry with 140,000+ current members—become a member today. Since 2007, the Family Office Club has been working with family offices by helping them create family offices, identify deal flow from our live conferences, and connect with quality investment firms and independent sponsors.  To learn more, and get two chapters from Richard C. Wilson's best selling book, "The Family Office Book: Investing Capital for the Ultra-Affluent." please download our free Family Office Report PDF on single and multi-family offices right now by visiting: http://FamilyOfficeReport.comMembership and our events please see http://FamilyOffices.com or to learn more about setting up your family office please see http://SingleFamilyOffices.com►Where to follow and listen to Richard:Twitter: https://Twitter.com/RichardCWilsonWebsite: http://www.FamilyOffices.comLinkedIn: https://www.Linkedin.com/in/singlefamilyoffice/iTunes: https://itunes.apple.com/us/podcast/family-office-podcast-ultra/id849850253?mt=2Products: http://FamilyOffices.com/wp-content/uploads/2015/01/Charter-Brochure-1.pdfFacebook: https://www.Facebook.com/Family-Office-Certification-273131392872473/Trainings: https://www.InvestmentCertifications.comBootcamps: http://FamilyOffices.com/CapitalFamily Offices Summits: http://FamilyOffices.com/:Family Office Jobs:http://FamilyOfficejobs.com/----Thank you for watching this video—Please Share it. I like to read comments so please leave a comment.► Subscribe to My Channel: https://www.youtube.com/user/familyofficesgroup----Richard is a  bestselling author and for 10+ Years the Family Office Club has attracted over 1,500 registered family offices with $1 trillion+ in assets. Richard is an internationally renowned speaker on leadership, Family Offices space, entrepreneurship, social media, and finance. He regularly appears on Fox News, Fox Business, CNBC, and MSNBC, and writes for Forbes, Success Magazine, Business Insider, Entrepreneur.com, and the Huffington Post. He urges his followers and clients to make success their duty, responsibility, and obligation. He currently resides in South Florida with his wife and two daughters.

Meera Chandan and Saad Siddiqui discuss the outlook for FX given the gap end of cycle narrative and better than expected activity data.   This podcast was recorded on 21 April 2023. This communication is provided for information purposes only. Institutional clients can view the related report at http://www.jpmm.com/research/content/GPS-4380075-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2022 JPMorgan Chase & Co. All rights reserved.

Speakers: Natasha Kaneva, Head of Global Oil and Commodities Research   This communication is provided for information purposes only. Institutional clients can view the related reports at https://www.jpmm.com/research/content/GPS-4389047-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.  

A robust 1Q23 is contrasted with signs of momentum loss through the quarter. However, while some data (US initial claims) raise concern, the latest data point to ongoing resilience. Combined with banking sector stress looking to be contained, the odds of the “boil the frog” scenario are increased and we look for another round of rate hikes in May from the major central banks. Speakers: Bruce Kasman Joseph Lupton This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.

Institutional adoption is critical for web3 as it scales and gains credibility. In this episode of One Vision, Arun and Max talk to Vijay Krishnan, Director of Technology at Consensys. Vijay shares his experiences of becoming an Ethereum miner several years ago, and how that helped him jump into the crypto rabbit hole. Crypto is nothing without its boom and bust cycles and the winters reveal the broken plumbing. Vijay discusses the challenges that the industry faces and what the solutions could be. Vijay also gives us a glimpse of the products that he is working on at Consensys and how they help institutional adoption for web3 and cryptos.

Jonny Goulden and Saad Siddiqui discuss the latest drivers for EM currencies, a potential mis-pricing of front-end rates, and structural issues for distressed sovereigns.   Speakers Jonny Goulden, Emerging Markets Strategist Saad Siddiqui, Emerging Markets Strategist    This podcast was recorded on 20 April 2023. This communication is provided for information purposes only. Institutional clients can view the related report https://www.jpmm.com/research/content/GPS-4391474-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.

The Assembly, a digital magazine about the people, institutions, and ideas that shape North Carolina, recently partnered with The Food Section, a newsletter on the Substack platform that covers food and drink in the American South. Kyle Villemain and Hanna Raskin, founders of The Assembly and The Food Section, respectively, discuss what their partnership means for the Carolinas and beyond. Keep up with the latest news about the It's All Journalism podcast, sign up for our weekly email newsletter. Also, listen to our podcast on Apple Podcasts, Soundcloud, Audible, Amazon, or Stitcher.  Learn more about your ad choices. Visit megaphone.fm/adchoices

On this week's episode of the Governance Podcast, Mark Pennington, the Director at the Study of Governance and Society here at King College London, interviews Professor Terry Flew. This episode is titled "‘Too much' and ‘too little' content moderation", and discusses the question of content moderation on digital platforms as a case study in Foucauldian approaches to governmentality. The Guest Terry Flew is Professor of Digital Communication and Culture at the University of Sydney. He is the author of 16 books (seven edited), 71 book chapters, 118 refereed journal articles, and 20 reports and research monographs. His books include The Creative Industries, Culture and Policy (SAGE, 2012), Global Creative Industries (Polity, 2013), Media Economics (Palgrave, 2015), Understanding Global Media (Palgrave, 2018), Regulating Platforms (Polity, 2021), and Digital Platform Regulation: Global Perspectives on Internet Governance (Springer, 2022). He was President of the International Communications Association (ICA) from 2019 to 2020 and is currently an Executive Board member of the ICA. He was elected an ICA Fellow in 2019. He is a Fellow of the Australian Academy of the Humanities (FAHA), elected in 2019. He has advised companies including Facebook/Meta, Cisco Systems and the Special Broadcasting Service, and government agencies in Australia and internationally, including the Australian Communication and Media Authority and the Singapore Broadcasting Authority. He has held visiting professor roles at City University, London and George Washington University, and is currently a Distinguished Professor with Communications University of China. He currently holds two Australian Research Council (ARC) Discovery grants, on Trust and Distrust in News Media, and Valuing News: Aligning Interpersonal, Institutional and Societal Perspectives, and heads the International Digital Policy Observatory, funded by the ARC in partnership with the Australian Information Industries Association.

Speakers: Luis Oganes, Saad Siddiqui, Cassiana Fernandez, Nicolaie Alexandru-Chidesciuc Join our research analysts as they discuss the state of EM, global monetary policy and idiosyncratic factors affecting some countries. This podcast was recorded on 17 April 2023. This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.

(4/18/23) Banks boost stocks as earnings season continues; markets remain in a trading range. Expect a pullback. Volatility Index (VIX) significantly down, closing Monday at 17. Rolling Recession vs The Big Event. Mounds of Cash: Who really owns it? Where does it come from (and where does it go)? The explosion of Money Market Funds in 2020: There is no such thing as "money on the sidelines." In the markets, for every buyer there is a seller. Who owns the cash? Institutional holdings of money market funds (money used to conduct business, make payroll, etc.); not for investing in stock market. If everyone used 'buy-and-hold,' markets would flat-line. Earnings Preview: Is the Banking Crisis over? Netflix: Is content compelling enough to attract new subs? How China derives GDP numbers: Are they to be believed? Was the Banking Crisis a one-off event, or is there more pain to come? Lockheed-Martin beats estimates, but what about earnings? The Best Book to read about investing. SEG-1: Earnings Parade Marches On: Banks Boost Stocks SEG-2: There's No Such Thing as 'Money on the Sidelines' SEG-3: Who Owns the Cash? SEG-4: Should China's GDP Numbers Be Believed? Hosted by RIA Advisors Chief Investment Strategist Lance Roberts, CIO Produced by Brent Clanton, Executive Producer -------- Watch today's show on our YouTube channel:   https://www.youtube.com/watch?v=tIyIm16dZb0&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1&t=8s -------- The latest installment of our new feature, Before the Bell | "Volatility Index Sending a Message Not to Be Ignored " is here:  https://www.youtube.com/watch?v=EFDDYvIKQwI&list=PLwNgo56zE4RAbkqxgdj-8GOvjZTp9_Zlz&index=1  --------  Here are articles mentioned in today's show: "The Cash Hoard Of 2023 (And The Sideline Money Myth)" https://realinvestmentadvice.com/the-cash-hoard-of-2023-and-the-sideline-money-myth/ ------- Our previous show is here: "Why Hasn't the Fed Panicked Yet?" https://www.youtube.com/watch?v=Qw2Lbe0IPvs&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1&t=3s -------- Register for our next Lunch & Learn: "Transitioning to Medicare" https://us06web.zoom.us/webinar/register/7516747839784/WN_yEQ0iBgwQ2WdIexCLAdpPQ ------- Get more info & commentary:  https://realinvestmentadvice.com/newsletter/ -------- SUBSCRIBE to The Real Investment Show here: http://www.youtube.com/c/TheRealInvestmentShow -------- Visit our Site: www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to SimpleVisor: https://www.simplevisor.com/register-new -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #InvestingAdvice #MoneyOnTheSidelines #MoneyMyths #EarningsSeason #RegionalBanks #Recession #RollingRecession #InventoryManagement #RetailSales #Markets #Money #Investing

Speakers: Jahangir Aziz, Grace Ng, Sin Beng Ong Listen to our Emerging Markets Economists as they summarize China's reopening, PBOC and interest rate policies, and the potential impacts of geopolitical risks stemming from the region. This podcast was recorded on 17 April 2023. This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.

Speakers: Jonny Goulden, Saad Siddiqui, Nicolaie Alexandru-Chidesciuc, Ben Ramsey Tune in as our Emerging Markets Research Analysts analyze country specific dynamics and potential risks for  countries across EM, including Tunisia, Ukraine, Zambia, Egypt, Turkey, Sri Lanka, Pakistan, Ecuador and Argentina. This podcast was recorded on 17 April 2023. This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures. © 2023 JPMorgan Chase & Co. All rights reserved.

(4/18/23) Banks boost stocks as earnings season continues; markets remain in a trading range. Expect a pullback. Volatility Index (VIX) significantly down, closing Monday at 17. Rolling Recession vs The Big Event. Mounds of Cash: Who really owns it? Where does it come from (and where does it go)? The explosion of Money Market Funds in 2020: There is no such thing as "money on the sidelines." In the markets, for every buyer there is a seller. Who owns the cash? Institutional holdings of money market funds (money used to conduct business, make payroll, etc.); not for investing in stock market. If everyone used 'buy-and-hold,' markets would flat-line. Earnings Preview: Is the Banking Crisis over? Netflix: Is content compelling enough to attract new subs? How China derives GDP numbers: Are they to be believed? Was the Banking Crisis a one-off event, or is there more pain to come? Lockheed-Martin beats estimates, but what about earnings? The Best Book to read about investing. SEG-1: Earnings Parade Marches On: Banks Boost Stocks SEG-2: There's No Such Thing as 'Money on the Sidelines' SEG-3: Who Owns the Cash? SEG-4: Should China's GDP Numbers Be Believed? Hosted by RIA Advisors Chief Investment Strategist Lance Roberts, CIO Produced by Brent Clanton, Executive Producer -------- Watch today's show on our YouTube channel: https://www.youtube.com/watch?v=tIyIm16dZb0&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1&t=8s -------- The latest installment of our new feature, Before the Bell | "Volatility Index Sending a Message Not to Be Ignored " is here: https://www.youtube.com/watch?v=EFDDYvIKQwI&list=PLwNgo56zE4RAbkqxgdj-8GOvjZTp9_Zlz&index=1 -------- Here are articles mentioned in today's show: "The Cash Hoard Of 2023 (And The Sideline Money Myth)" https://realinvestmentadvice.com/the-cash-hoard-of-2023-and-the-sideline-money-myth/ ------- Our previous show is here: "Why Hasn't the Fed Panicked Yet?" https://www.youtube.com/watch?v=Qw2Lbe0IPvs&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1&t=3s -------- Register for our next Lunch & Learn: "Transitioning to Medicare" https://us06web.zoom.us/webinar/register/7516747839784/WN_yEQ0iBgwQ2WdIexCLAdpPQ ------- Get more info & commentary: https://realinvestmentadvice.com/newsletter/ -------- SUBSCRIBE to The Real Investment Show here: http://www.youtube.com/c/TheRealInvestmentShow -------- Visit our Site: www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to SimpleVisor: https://www.simplevisor.com/register-new -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #InvestingAdvice #MoneyOnTheSidelines #MoneyMyths #EarningsSeason #RegionalBanks #Recession #RollingRecession #InventoryManagement #RetailSales #Markets #Money #Investing

Institutional adoption is critical for web3 as it scales and gains credibility. In this episode of One Vision, Arun and Max talk to Vijay Krishnan, Director of Technology at Consensys. Vijay shares his experiences of becoming an Ethereum miner several years ago, and how that helped him jump into the crypto rabbit hole. Crypto is nothing without its boom and bust cycles and the winters reveal the broken plumbing. Vijay discusses the challenges that the industry faces and what the solutions could be. Vijay also gives us a glimpse of the products that he is working on at Consensys and how they help institutional adoption for web3 and cryptos. Hosted on Acast. See acast.com/privacy for more information.

Institutional investors have helped lead the way in the alternative investment space for decades now. Along the way, they have learned the best practices for success when it comes to illiquid and private investments. Melanie Pickett, executive vice president at Northern Trust, joins Andy Hagans to discuss lessons that individual investors can learn from the largest institutional investors. Show notes: https://wealthchannel.com/2023/04/melanie-pickett-130/

Subscriber-only episodeTalking Trading - Expert trading tactics so you can excel in the sharemarket.This is how traders and investors excel.Listen on: Apple Podcasts SpotifyCobra Trading Click the link and get 33% off commissions for life as well as one month of free DAS Trader Platform

For this episode of OTNS, Primavera and I spoke to Jason Potts (@profjasonpotts), a professor of economics and co-director of blockchain innovation hub of RMIT. This is the first episode in the series where we're talking to someone who is still a fan of Balaji. During the interview we spoke about his disappointments in the book, how productive forces are evolving past market capitalism, and the commons.Overthrowing the Network State (OTNS) is a series in collaboration with Blockchaingov where we critique The Network State  by Balaji Srinivasan while also pulling out the salvageable parts and concepts in discussion with a variety of guests. We are overall critical of Balaji's specific ideas in the book, but we want to discuss it with intellectual honesty and highlight the larger concepts around how these technologies are and could subvert state structures. You can find the first episode of OTNS where we give our initial criticisms and  alternatives here.Blockchaingov is a 5-year long, transdisciplinary research effort aimed at restoring trust in institutions at the community and global levels, by promoting better on chain and off chain distributed governance practices. Throughout the series, each discussion will include me and a member of Blockchaingov with either a new guest each episode or just a discussion between us to tackle various topics from the book.If you liked the podcast be sure to give it a review on your preferred podcast platform. If you find content like this important consider donating to my Patreon starting at just $3 per month. It takes quite a lot of my time and resources so any amount helps. Follow me on Twitter (@TBSocialist) Mastodon (@theblockchainsocialist@social.coop) or Lens  and join the r/CryptoLeftists subreddit and Discord to join the discussion.Support the show

This week on the “Weekly Recap,” NLW looks at the Shapella upgrade, including emergent narratives around institutional investment, as well as checking in on the FTX bankruptcy estate and previewing the House Financial Services Committee oversight hearing with Securities and Exchange Commission Chair Gary Gensler next week.  - “The Breakdown” is written, produced and narrated by Nathaniel Whittemore aka NLW, with editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Foothill Blvd” by Sam Barsh. Join the discussion at discord.gg/VrKRrfKCz8.  

NLW looks at the discussion around Ethereum following this week's Shapella upgrade.This week on the “Weekly Recap,” NLW looks at the Shapella upgrade, including emergent narratives around institutional investment, as well as checking in on the FTX bankruptcy estate and previewing the House Financial Services Committee oversight hearing with Securities and Exchange Commission Chair Gary Gensler next week. -“The Breakdown” is written, produced and narrated by Nathaniel Whittemore aka NLW, with editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Foothill Blvd” by Sam Barsh. Image credit: by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26-28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit consensus.coindesk.com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Entrepreneurship is well-defined in economics, and well-recognized as the engine that drives economic growth. That means people enjoying greater well-being, including but not limited to material prosperity. But economic growth can be uneven. Some countries, some regions, and even some firms do not generate the same levels of economic growth as others. How do we understand this variability? We look for what holds entrepreneurship back. Knowledge Capsule Economic development can be a self-reinforcing cycle of continuous improvement in people's circumstances. Greater material prosperity is a valid and worthwhile goal for economic development. But, says Shawn Ritenour, economic development goes beyond that goal: it delivers a greater variety of goods and services that individuals and businesses can use as means to achieve their own diverse ends. The production of this greater variety requires entrepreneurship in the creation of new ideas and the pursuit of new value, and it generates new entrepreneurship by supplying a greater variety of resources to work with in those pursuits. To generate this cycle, an enabling environment is required — one that acts as a catalyst for entrepreneurship. Economic development is a multifaceted process in which several forms of human action combine in a system for economic prosperity. It's not instructive to try to isolate financial capital or capital goods or technology or even human capital, and culture and social institutions can't be ignored. These sources of prosperity must work together in an orderly fashion to generate the necessary synthesis. The vital role is that of the entrepreneur. The entrepreneur is the one who undertakes production, the one who combines resources to produce a product that meets customers' needs and enables those customers in their own economic pursuits. Entrepreneurs kick off the cycle. Firms and organizations can act entrepreneurially, but it's fundamental to understand that individuals — sometimes working in teams or committees — are the ones behind entrepreneurial decision-making. The entrepreneur is not necessarily a single person, but entrepreneurship is always a human action. How do we get entrepreneurship started? Entrepreneurship requires customer knowledge, technical knowledge and financial capital. Customer knowledge includes the empathic understanding of what's needed for customers to be able to better meet their own needs. In the context of economic development, this knowledge is probably widely available to private entrepreneurs, but it may not be available to governments, whose understanding is distorted by predispositions to develop specific industries or subsidize specific economic sectors, or towards a particular technology. For these reasons, there can be no “entrepreneurial state”. Individuals with their own ideas and their own private property will provide the energy o break economic inertia. Technical knowledge defines a sufficient understanding of the technology and technological resources to deliver the desired new value to the customer. In under-developed economies, this technical knowledge may be thin, so reinforcing the technical knowledge of entrepreneurs is appropriate, through education, injections of new technology, training, mentoring, or other forms of knowledge transfer. With the right understanding of customer needs and the command of the right technology, the entrepreneurs involved in the development state will always need financial capital, because production takes time to organize before cash flows in to the firm from customers. In development contexts, entrepreneurs often will not have savings of their own, and there may not be an appropriate institutional infrastructure of local banks and lenders and investors. Therefore, customer knowledge, technical knowledge and financial capital combine to provide the foundation for entrepreneurial leadership and growth. They're integrated: it's important for the sources of financial capital to understand and appreciate the nature of the customer and technical knowledge that is being deployed. Typically, this takes the form of venture capital or private equity. Education is another important element in the institutional environment for entrepreneurship. Entrepreneurship as a skill or capability can not be taught — it requires a special orientation that's more developed in some individuals and firms than others. But principles, process and tools can be taught, and experienced entrepreneurs and businesspeople who have developed market savvy can share knowledge that they have acquired. Communicating the entrepreneurial mindset and methods in all stages of education will help to create and promote an entrepreneurial community that's supportive of economic development. One aspect of learning is to understand the entrepreneurial ethic of sacrifice, that it takes a lot of time and effort and expenditures and extended commitment before business success can be achieved. There's more hard work than there is magic. Institutional elements such as property rights and sound money are important components of entrepreneurial development. Property rights and sound money may sound like abstract concepts, but they are extremely influential in economic development processes. Property rights mean that entrepreneurs can assemble and go to market with their own resources in whatever way they prefer. Sound money means that entrepreneurs can anticipate a return from their productive activities that's not eroded away by inflation, and they're not led into miscalculation by monetary manipulation (e.g., unanticipated escalation of future borrowing costs). Removing obstacles to entrepreneurship is the best economic development policy. Traditional approaches to economic development favor centrally planned initiatives, government spending, and policies in the form of subsidies or special incentives. They're not typically market-based approaches. But the right approach is the opposite of policy-making. Instead of trying to design and add new structures, development should be focused on the removal of barriers — on identifying what's getting in the way of nurturing a rich and robust entrepreneurial culture, and focusing on the removal of those obstacles. Leave the entrepreneurs to identify the specific products and services and businesses that can flourish, and to attract the investment capital that will support those businesses, without the need for “policy”. Additional Resources The Economics of Prosperity: Rethinking Economic Growth And Development by Shawn Ritenour: Mises.org/E4B_214_Book1 The Economics Of Prosperity (Edward Elgar): Mises.org/E4B_214_Book2 Shawn Ritenour at Mises.org/Ritenour Shawn Ritenour at Grove City College: Mises.org/E4B_214_Profile