Podcasts about institutional

The Last Trade: Matt Odell on the 2025 postmortem: why BTC lagged gold, how DATs wrecked sentiment, what the quantum debate gets wrong, and what changes when institutions take the wheel.---

Can't Tear My Eyes From You, Chapter 12: Prehistoric Reality.The contestants try to figure out whether they can trust one another. Cast:Marge Dunn as Raine RandolphAmanda Egbu as Georgia WhittakerJosephine Moshiri Elwood as Valentina RideJamie McGonagill as the Pleasant VoiceQuinn McKenzie as Capote WhittakerMelody Perera as Anouk KalharaStefano Perti as Dennis LangMarc Pierre as Sergeant MurdockStewart Evan Smith as Taylor Kelley(Trigger warnings can be found at the bottom of this episode description and at the end of the transcript.)-------You can find all of our transcripts here. Transcripts will come out along with the public release of the episode and include all required SFX attributions.On staff at the Penumbra:Ginny D'Angelo -- Head of OperationsMelissa DeJesus -- Script editing teamHarley Takagi Kaner -- Co-creator, Head of Episode Development, Director, Sound designerJoelle Kross -- TranscriptionistGrahame Turner -- Script editing teamKevin Vibert -- Co-creator, Head of Operations, Lead writerRyan Vibert -- Composer and performer of original musicJeff Wright -- Graphic designer--------TRIGGER WARNINGS:- Armed violence- Blood and gore- Institutional abuse- Helplessness- Threats of violence- Deception and gaslighting- Violence towards animals- Sudden loud noises- Enclosed dark spaces- Starvation- SexismYou can find early and ad-free episodes, production scripts, commentary tracks, blooper reels, livestreams with the creators, and much more, at The Penumbra Podcast: SPECIAL EDITION. Hosted on Acast. See acast.com/privacy for more information.

Patriot games are coming. Larry Ellison in the spotlight. Hi Ho Silver and away! PLUS we are now on Spotify and Amazon Music/Podcasts! Click HERE for Show Notes and Links DHUnplugged is now streaming live - with listener chat. Click on link on the right sidebar. Love the Show? Then how about a Donation? Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter Warm-Up - CTP Cup - All systems go! 9 participants! - ELON gets his $$$ - Kids account challenge - Patriot games are coming... Markets - Not much headwinds - EOY approaching - Analysts predicting SP500 for 2026 - 7,500 (12% upside) - More Oracle back and forth - Gold and Silver Elon - Elon Musk's net worth surged to $749 billion late Friday after the Delaware Supreme Court reinstated Tesla stock options worth $139 billion that were voided last year - He also recently received a $1T pay plan approval - Jeff Bezos, Mark Zuckerberg, and Jensen Huang combined - His fortune exceeds the GDP of nations like the Netherlands, Saudi Arabia, and Switzerland. - He is richer than every country in Africa by GDP - He is projected by some reports to become the world's first trillionaire by 2027 When did Larry Ellison and Oracle become newsworthy? - Every day in the news.... - Larry Ellison NOW Personally Guarantees Paramount Bid for Warner Bros. - The announcement of Mr. Ellison's personal guarantee is meant to address concerns that the Warner Bros. Discovery's board had expressed about Paramount's original offer. - Helping out sonny-boy? More Oracle - Oracle stock slid after a report that Blue Owl Capital won't back a $10 billion data center for OpenAI. (Michigan) - Oracle has $248 billion in lease commitments for data centers and cloud capacity commitments over the next 15 to 19 years. - Oracle later responded to the FT report, saying the project was moving forward and that Blue Owl was not part of equity talks. EVEN MORE! - Multiple media outlets, including the Associated Press, reported that ByteDance has reached an agreement with Oracle ORCL, Silver Lake, and Abu-Dhabi-based MGX to set up a joint venture for TikTok's US operations. Oracle will hold a 15.0% stake in the new entity, while ByteDance will retain a 19.9% stake. - The important thing her is that TikTok stays as a major tenant of OCI as ORCL needs this cash flow... - Of all of the items, this may be why ORCL stock has bounced te last few days. Congressional Ban - A vote on legislation banning members from owning or trading stocks could get a vote in the new year, according to House leadership and Republican members. - President Donald Trump has said he supports a congressional ban but has pushed back on versions that include the executive branch. - Basically this bill would prohibit the ownership of individual stocks by congress Over to Japan - Bank of Japan raises benchmark rates to highest in 30 years, lifting 10-year JGB yield past 2% - Yen still VERY weak - trading at 157/USD - (problematic) - The BOJ said that real interest rates are expected to remain “significantly negative,” adding that accommodative financial conditions will continue to firmly support economic activity. - The yen weakened 0.25% against the USD after the decision - therefore still dovish and stimulative Economic Numbers - Estimates, partial numbers and best guesses. OH, 2-month averaging as well - The Bureau of Labor Statistics reported that the annual headline inflation rate and core CPI rate for last month were 2.7% and 2.6%, respectively, well below expectations. - Due to government shutdown, BLS to make certain methodological assumptions about the prior month's inflation levels. - Those assumptions in the methodology were not clear to economists and were not fully explained in the release. - Here is a big issue: The price changes in October for the OER (owners equivalent rent) appear to have been “set to zero.”  Sports Prediction Markets - Sports is fueling the growth and is forecasted to make up 44% of volume as prediction markets mature. - According to one expert: the fundamental elements of consumer demand and an array of diverse brands looking to meet that demand are clearly in place - Sportsbooks are getting a bit nervous.... First Dell, then... - Billionaire hedge fund manager Ray Dalio of Bridgewater Associates and his wife, Barbara, committed to seed Trump accounts for approximately 300,000 children in Connecticut. - Following the Dells' pledge, the funds will be aimed at kids who live in a Connecticut ZIP code where the median income is less than $150,000. - The Dalio grant will fund $250 per child for approximately 300,000 children in Connecticut. This applies to children who live in a ZIP code where the median income is less than $150,000. About 87% of Connecticut ZIP codes meet that criteria, according to a CNBC analysis of Census Bureau data. - “Ray has joined what we are calling the 50-state challenge,” Treasury Secretary Scott Bessent said in a press conference on Wednesday. - A growing number of companies have announced they would match contributions to Trump accounts for their employees, including BNY and BlackRock. Patriot Games (Hunger Games?) - Trump announced: The Washington Monument will be illuminated with festive lights, a triumphal arc will be constructed and the “Patriot Games” will commence. The games are an “unprecedented four-day athletic event featuring the greatest high school athletes: one young man and one young woman from each state and territory. - Uhhhhhh "And so it was decreed that, each year, the various districts of Panem would offer up, in tribute, one young man and woman to fight to the death in a pageant of honor, courage and sacrifice. (Hunger Games 2012) - What next - PURGE NIGHT? Fed Pick - Now it seems as if it is a 4 person race... - President Trump says "Nowadays, when there is good news, the market goes down because everybody thinks that interest rates will be immediately lifted"; says "I want my new Fed Chairman to lower interest rates if the market is doing well"; says "Anybody that disagrees with me will never be the Fed Chairman!" San Fran Blackout - Alphabet-owned Waymo resumed its robotaxi service in the San Francisco Bay Area Sunday evening after pausing it amid widespread blackouts that had affected their vehicles' behavior. - Waymo said it worked with city officials throughout the blackout and had “proactively” initiated a temporary suspension of its service. - Interesting point there - what happens when grid disruptions for internet with self-driving Angry Shareholders (For a minute) - Tricolor CEO Daniel Chu directed a deputy to send him $6.25 million in bonuses in August, weeks before the company filed for bankruptcy, U.S. prosecutors alleged. - Subprime autofirm that had alleged fraud - This happens all the time - Big issue to keep alert to is the news about "Subprime" WEED - Trump's executive order shifts cannabis from Schedule I to Schedule III, easing research, banking and tax restrictions and marking the biggest federal cannabis policy change in decades. - Shares of cannabis conglomerates were down following the announcement, likely from worries of new competition from international companies. - NOT legalization - NOT for recreational use... - Banking, Institutional capital ..... OpenAi - Beggars cup continues - OpenAI is in initial discussions to raise at least $10 billion from Amazon.com Inc. and use its chips, a potential win for the online retailer's effort to broaden its AI industry presence and compete with Nvidia Corp. - The deal under discussion could value OpenAI north of $500 billion and see it adopt Amazon's Trainium chip, a person with knowledge of the matter said, asking to remain anonymous to describe private negotiations. - Talks, however, are at a preliminary stage and terms could change, the person added. High Ho Silver and Away! - Silver up 135% YTD - Gold up 70% - Best year since strongest annual performance since 1979 for Gold - 1970's was inflation, USD weakening, Energy crisis. - What is similar/different now? (Big difference is buying up (China, Poland, Turkey, India) Light menu - Darden Restaurants will roll out a new lighter portion entrées menu at all Olive Garden locations in January, the company announced during its quarterly earnings call last Thursday. - Citing affordability: "Olive Garden has seen a double-digit increase in affordability perceptions from guests who order from the lighter portions menu and an increase in frequency among these guests, which should help build traffic over time," Cardenas said. - Sooooo 0 due to high costs, Americans are cutting back on food? - If it were for weight loss, no need for Oliver garden to cut back on portions as most inedible anyway... Copper - Copper prices topped $12,000 a ton for the first time, extending the metal's recent bull run as mine outages add to concerns about supply. - The threat of US import tariffs on the metal has also been an important factor pushing up prices this year, with copper piling up in American warehouses. - Industry analysts have said that much of the richest and most easily accessible mining resources are now exhausted, and experts are warning that the market is on the cusp of a major deficit. Jim Beam - Bourbon maker Jim Beam is halting production at one of its distilleries in Kentucky for at least a year as the whiskey industry navigates tariffs from the Trump administration and slumping demand for a product that needs years of aging before it is ready. - Jim Beam said the decision to pause bourbon making at its Clermont location in 2026 will give the company time to invest in improvements at the distillery. The bottling and warehouse at the site will remain open, along with the James B. Beam Distilling Co. visitors center and restaurant. - The percentage of U.S. adults who say they consume alcohol has fallen to 54%, the lowest by one percentage point in Gallup's nearly 90-year trend. Love the Show? Then how about a Donation? THE CLOSEST TO THE PIN 2025 Winners will be getting great stuff like the new "OFFICIAL" DHUnplugged Shirt! CTP CUP 2025 Participants: Jim Beaver Mike Kazmierczak Joe Metzger Ken Degel David Martin Dean Wormell Neil Larion Mary Lou Schwarzer Eric Harvey (2024 Winner) FED AND CRYPTO LIMERICKS See this week's stock picks HERE Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter

What if managing rentals like an institution is the key to higher returns and less stress?Hosts Tait Duryea and Ryan Gibson talk with Matthew Whitaker, founder of Evernest, about scaling property management with systems, data, and AI. From HELOC-driven growth to managing 20,000 homes nationwide, this conversation breaks down why professional operations, fraud prevention, and institutional discipline can transform single-family and small multifamily investing for pilots.Matthew Whitaker is the founder of Evernest, a nationwide property management platform serving over 20,000 rental homes across 50 markets. A former single-family investor who scaled through multiple market cycles, Matthew now focuses on applying institutional systems, data, and AI to professionalize rental operations and reduce friction for real estate investors.Show notes:(0:00) Intro(0:19) Why property management changes everything(1:22) From 30 homes to 20,000 doors(5:03) Using HELOCs to scale real estate(10:32) Why paying off your house isn't safer(16:23) Inside Evernest's national platform(18:21) Tenant fraud and underwriting risks(22:12) Why in-house maintenance lowers costs(31:21) AI predicting repairs and NOI(34:10) Institutional systems for small rentals(46:07) How to work with Evernest(47:14) OutroConnect with Matthew Whitaker:Website: https://www.evernest.co/ —If you're interested in participating, the latest institutional-quality self-storage portfolio is available for investment now at: https://turbinecap.investnext.com/portal/offerings/8449/houston-storage/ — You've found the number one resource for financial education for aviators! Please consider leaving a rating and sharing this podcast with your colleagues in the aviation community, as it can serve as a valuable resource for all those involved in the industry.Remember to subscribe for more insights at PassiveIncomePilots.com! https://passiveincomepilots.com/ Join our growing community on Facebook: https://www.facebook.com/groups/passivepilotsCheck us out on Instagram @PassiveIncomePilots: https://www.instagram.com/passiveincomepilots/Follow us on X @IncomePilots: https://twitter.com/IncomePilotsGet our updates on LinkedIn: https://www.linkedin.com/company/passive-income-pilots/Do you have questions or want to discuss this episode? Contact us at ask@passiveincomepilots.com See you on the next one!*Legal Disclaimer*The content of this podcast is provided solely for educational and informational purposes. The views and opinions expressed are those of the hosts, Tait Duryea and Ryan Gibson, and do not reflect those of any organization they are associated with, including Turbine Capital or Spartan Investment Group. The opinions of our guests are their own and should not be construed as financial advice. This podcast does not offer tax, legal, or investment advice. Listeners are advised to consult with their own legal or financial counsel and to conduct their own due diligence before making any financial decisions.

Are institutions setting up the final Bitcoin trap before a massive move? This Friday marks a critical deadline that could unleash MAJOR volatility across the entire crypto market. In today's episode, we break down what smart money is doing, why Bitcoin has been stuck in this weird price zone, and how altcoins could experience their biggest swings of the year.

Darshan H. Brahmbhatt, Podcast Editor of JACC: Advances, discusses a recently published original research paper on Long-Term Survival in Liver Transplant Patients With Coronary Artery Disease: A Multi-Institutional Study.

Investing in private market offerings outside of public stocks or funds can offer diversification and better returns, but these vehicles are often inaccessible to retail investors. There tend to be high minimums and restricted access to these opportunities. To provide this access, a number of investor organizations exist that pool their member's resources to meet investor minimums and provide access. One of these organizations is Long Angle Management. Matt Shechtman, CEO at Long Angle Management, has vast experience operating and investing in private companies. Long Angle offers High Net Worth members curated investment opportunities, peer insights, education and networking.

In this episode, I'm joined by Howard Wu, co-founder of Aleo and CEO of Provable.We dive into programmable privacy, why transparent stablecoins break real-world finance, how Aleo enables private yet compliant smart contracts, and what it will take to bring institutions on-chain. We also explore AI agents, crypto payments, and where privacy actually matters in practice.Key Timestamps[00:00:00] Intro: Howard's background and Aleo's focus on programmable privacy [00:02:00] From Bitcoin mining to ZK research at Berkeley[00:03:00] Aleo's core thesis: privacy + programmability[00:05:00] Why stablecoins need privacy and compliance[00:09:00] The broken UX of transparent wallets [00:11:00] How Aleo's ZK smart contracts work[00:14:00] Provable's role in the Aleo ecosystem [00:17:00] Institutional use cases: payments, payroll, trading[00:21:00] Privacy vs convenience in the real world [00:28:00] Roadmap: private stablecoins and integrations[00:35:00] AI agents, crypto, and the future of payments[00:40:00] Aleo's ask: builders, partners, and collaboratorsConnecthttps://aleo.org/https://www.linkedin.com/company/aleohq/https://x.com/AleoHQhttps://www.linkedin.com/in/1howardwu/https://x.com/1HowardWuDisclaimerNothing mentioned in this podcast is investment advice and please do your own research. It would mean a lot if you can leave a review of this podcast on Apple Podcasts or Spotify and share this podcast with a friend.Get featuredBe a guest on the podcast or contact us – https://www.web3pod.xyz/

John Chang shares a year-end perspective on where commercial real estate stands after 2025 and what he's watching heading into 2026. He breaks down the sharp slowdown in job creation following tariff uncertainty, rising unemployment among young adults, and how those trends are already impacting household formation, apartment absorption, and overall CRE demand. John also explains why institutional capital is quietly coming back off the sidelines, why retail may be the most resilient sector near-term, and how pent-up demand could drive a powerful rebound once economic clarity returns. Despite near-term choppiness, he makes the case that 2025–2026 entry points could set investors up well for the long-term cycle ahead. Get 50% Off Monarch Money, the all-in-one financial tool at www.monarchmoney.com with code BESTEVER Visit bestevercrypto.com today to get started and earn up to $2,500 in bonus crypto. Join us at Best Ever Conference 2026! Find more info at: https://www.besteverconference.com/  Join the Best Ever Community  The Best Ever Community is live and growing - and we want serious commercial real estate investors like you inside. It's free to join, but you must apply and meet the criteria.  Connect with top operators, LPs, GPs, and more, get real insights, and be part of a curated network built to help you grow. Apply now at⁠ ⁠⁠⁠www.bestevercommunity.com⁠⁠ Podcast production done by⁠ ⁠Outlier Audio⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices

Mexican Navy forensic expert Dr. José Zalce details the forensic analysis of Peru's Nazca mummies: the tridactyl bodies he's certain represent a genuine non-human species discovery, in episode 230 of the Far Out with Faust podcast.Dr. José Zalce is a Mexican Navy forensic physician with decades of experience conducting anatomical and forensic investigations for the military. Trained as a medical doctor and forensic specialist, Zalce was invited to Peru in 2017 to examine a series of anomalous desiccated bodies discovered near the Nazca region. Working directly with the specimens, he participated in on-site observation, X-ray imaging, CT tomography, carbon-14 dating coordination, and comparative anatomical analysis. Zalce has repeatedly emphasized that his conclusions are based on physical evidence and standard forensic procedure, and that the bodies he examined show no signs of assembly, fabrication, or modern interference.In this conversation, Faust and Dr. Zalce walk step by step through the scientific findings surrounding the Nazca mummies, beginning with the initial discovery and extending through years of imaging, dating, and anatomical comparison. Zalce explains why he believes the bodies represent at least two, and possibly three, previously undocumented biological species, and describes the professional consequences he faced after refusing to retract his findings. The discussion explores preservation methods, skeletal structure, reproductive biology, metallic implants, and the broader implications of acknowledging non-human intelligence within Earth's evolutionary history.In this episode:

It all comes back to the DNA.The firms that know who they are will know who to be.You can learn a lot about an investment firm by listening to what they say.Alt Goes Mainstream's AGM Originals Series - The DNA: Capturing Culture - is dedicated to capturing the DNA of a firm by listening to what they say.The first season of The DNA stars EQT. In Stockholm, at EQT's AIM this past summer, I sat down for conversations with nine EQT executives.Each executive came from different parts of the firm — and different parts of the world.Each had fascinating backgrounds and stories about how they ended up in private markets and worked to build EQT.But there was a single throughline threaded throughout all of the discussions: the consistency and frequency that each executive talked about the firm's mission, vision, culture, and values.That's why it all comes back to the DNA.Episode 1 features EQT Founder and Chairperson Conni Jonsson. Conni founded EQT Partners AB in 1994. He has been Managing Partner since the company's foundation and as from March 1, 2014, Conni is full time working Chairperson.Prior to founding EQT Partners AB, Conni was employed by the Wallenberg Family Holding Company for seven years as Executive Vice President.Conni Jonsson graduated from the University of Linkoping in 1984, Bachelor of Science with majors in Economic Analysis and Accounting & Finance, and he has participated in the Program for Management Development at the Harvard Business School.Please enjoy this conversation with one of the industry's leaders in Conni Jonsson.You can stream all the episodes on AGM's YouTube channel at AltGoesMainstreamAGM.Show Notes 00:00 The DNA: Capturing Culture Episode 100:21 EQT's Origins and Global Reach01:38 Conni Jonsson's Background and Journey02:00 Founding EQT: Embracing Uniqueness04:03 Balancing Responsibility and Financial Outcomes05:09 The Wallenberg Family's Influence06:36 Long-Term Thinking in Investing07:20 Operationalizing Long-Term Values08:13 EQT's Distinct Investment Approach10:12 The Importance of Culture in Business11:28 EQT's Focus on Core Competencies12:53 Global Investment Strategies13:20 Engaging with Institutional and Wealth Investors14:15 Educating the Wealth Channel17:10 Diversification and Global Exposure18:19 Investing in Asia: Structural Alpha20:40 Mitigating Political Risks20:47 Future Skills in Private Markets22:51 Aligning Good Business with Good Returns24:38 Conclusion: The Winner Takes It All

In this episode of The Distribution, Brandon Sedloff sits down with Tony Avila for a detailed discussion on the evolution of residential land development and homebuilding finance. Tony walks through his multi-decade career, from early exposure to real estate and investment banking to building platforms focused on capital solutions for developers and regional homebuilders. The conversation explores how institutional capital, regulatory shifts, and interest rate cycles have reshaped the housing ecosystem, and why today's environment presents a distinct opportunity in land and construction lending. Together, they break down the mechanics behind land development loans, underwriting discipline, and the structural gaps left by traditional banks. They discuss: • Tony Avila's career path through real estate workouts, investment banking, and homebuilding M&A • The institutionalization of homebuilding and the role of public markets and consolidation • Distressed land and development opportunities following the financial crisis • Why banks have pulled back from land and construction lending and how private capital is filling the gap • The fundamentals of land development loans, underwriting risk, and housing affordability Links: Tony on LinkedIn - https://www.linkedin.com/in/tony-avila-8879487/ Avila Real Estate Capital - https://www.avilacapllc.com/ Brandon on LinkedIn - https://www.linkedin.com/in/bsedloff/ Juniper Square - https://www.junipersquare.com/ Topics: (00:00:00) - Intro (00:01:41) - Tony Avila's background and career (00:06:03) - The evolution of home building and institutionalization (00:08:46) - Mergers, acquisitions, and public listings (00:12:39) - Encore and distressed market opportunities (00:17:41) - Pivoting strategies in a changing market (00:20:01) - Current business structure and focus (00:24:58) - Understanding the fundamentals and opportunities (00:27:14) - Understanding land development loans (00:28:54) - Key considerations for land loans (00:30:43) - Distinguishing developers from builders (00:32:21) - Funding and underwriting strategies (00:39:35) - Navigating institutional capital (00:48:55) - Addressing housing affordability (00:53:16) - Conclusion and contact information

The Last Trade: Jeff Deist explains why “saving” died in the fiat era, how markets morphed into a casino, why gold is quietly re-monetizing, and what Bitcoin's financialization gets dangerously wrong as younger generations face a broken denominator, housing despair, and a culture of Hail Mary bets.---

The Bank of Japan raised its short-term policy rate by 25 basis points to 0.75%, the highest in nearly 30 years. Despite the rate hike, the Japanese yen fell against the U.S. dollar, while bitcoin saw a slight increase in value.~This episode is sponsored by Mevolaxy & BTCC~Boost your crypto with Mevolaxy ➜ https://bit.ly/MevolaxyBTCC 10% Deposit Bonus! ➜ https://bit.ly/PBNBTCC00:00 Intro00:10 Sponsor: BTCC00:50 As expected02:00 End of the road for the Yen?02:30 More rate hikes coming through mid 202703:30 Recession levels05:00 Consumer Sentiment record low06:00 FOX trying to twist the numbers07:30 Fear and greed08:30 Bitcoin ETFs vs Wall Street09:45 Contrarian view point11:00 Institutional inflection point12:00 Maybe Santa rally still in play?14:10 Sponsor: Mevaloxy16:20 Bitcoin vs S&P 500 chart17:20 Tariffs in trouble17:50 Fed chair announcement soon18:30 Trump announces patriot games19:15 Outro#Crypto #Bitcoin #ethereum~Japan Rate Hike Fears Over?

In our last FX podcast of the year, we discuss the main questions and highlights from our year-ahead outlook meetings as well as take-aways from DM central bank meetings and US data releases.   Speakers Meera Chandan, Global FX Strategy Patrick Locke, Global FX Strategy Junya Tanase, Japan Markets Research Octavia Popescu, Global FX Strategy   This podcast was recorded on 19 December 2025. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5158663-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.    

On today's show, I am talking with Johan,About how his career has grown!He's DPO of the Swedish National Board of Institutional Care,He helps them be responsible in the data they share.

Most investors spend their time chasing returns. Institutional investors focus on protecting the downside—and that difference explains exactly why today's market looks the way it does.Rich sits down with John Azar and Francisco Herrera to unpack what really happened during the euphoric run of 2021–2022, how undisciplined underwriting and risky debt structures created today's wave of distress, and why many so-called “broken deals” aren't asset problems at all—they're capital structure problems.The conversation cuts through the noise around cap rates, rent growth, and interest rates to highlight what actually matters: buying right, underwriting conservatively, and understanding who the buyer will be years before you ever close on a deal. John and Francisco share how institutional investors think about risk, why hope is not a strategy, and how overleveraging turned strong assets into liabilities almost overnight.Rich also dives into why relationships outperform deal-chasing, why saying “no” for long stretches can be a competitive advantage, and how disciplined operators stay durable through every phase of the cycle.This is a clear-eyed, no-hype discussion on capital preservation, real underwriting, and what it takes to invest like an institution when the market stops being forgiving.Join our investor waitlist and stay in the know about our next investor opportunity with Somers Capital: www.somerscapital.com/invest. Want to join our Boutique Hotel Mastermind Community? Book a free strategy call with our team: www.hotelinvesting.com. If you're committed to scaling your personal brand and achieving 7-figure success, it's time to level up with the 7 Figure Creator Mastermind Community. Book your exclusive intro call today at www.the7figurecreator.com and gain access to the strategies that will accelerate your growth.

In this episode of the Investing in Integrity podcast, Ross Overline, CEO and co-founder of Scholars of Finance, welcomes Jennifer James, Managing Director, Chief Operating Officer and Head of Investor Relations & Marketing at Thoma Bravo, to uncover how one of the world's largest software-focused private equity firms grew from $8B to over $180B in AUM while staying true to its core values. Jennifer shares how trust, transparency, and culture form the foundation of Thoma Bravo's enduring success, from nurturing long-term LP relationships to leading through market volatility. She reveals the firm's people-first principles, including the “Four Eyes in the Room” approach to authentic connection, and how disciplined, values-driven leadership shapes lasting impact. Listeners gain actionable insights on scaling without losing integrity, building cohesive teams, and redefining work-life balance through seasons rather than perfection. Meet Jennifer James:Jennifer James is Managing Director, Chief Operating Officer, and Head of Investor Relations & Marketing at Thoma Bravo, based in San Francisco. With over two decades of experience in private equity and venture capital, she leads the firm's global operations, investor relations, and industry communications programs. Recognised by The Wall Street Journal and San Francisco Business Times for her leadership in fundraising and influence, Jennifer previously held senior roles at Sofinnova Ventures and Alta Partners. She holds an MBA from Northwestern and an AB in History from Bowdoin College.

US Rates Strategists Teresa Ho, Ipek Ozil, and Phoebe White discuss the implications of the delayed economic data, Fed chair selection process, and the Fed's newly announced Reserve Management Purchases. Speakers Teresa Ho Gentile (U308601) Head of US Short Duration Strategy Phoebe White (I189848) Head of US Inflation Strategy Ipek Ozil (V520278) Head of US Interest Rate Derivatives Strategy This podcast was recorded on 18 December 2025. This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.

Fighting against antimicrobial resistance will be key. Dinesh Subedi, research fellow at Monash University, determines how to do so. Dr. Dinesh Subedi is a microbiologist and Postdoctoral Researcher at Monash University in Australia. He studies how viruses that infect bacteria, called bacteriophages or “phages,” can be used to treat serious hospital-acquired infections. Institutional Phage Cocktails […]

Scarce Assets: Vance Crowe explains why BTC is becoming the superior store of value, how it could reshape farmland economics, & why family legacy may be the most important asset you pass on.---

This conversation delves into the current state of the cryptocurrency market, exploring various factors influencing Bitcoin and other cryptocurrencies. It discusses market manipulation, the impact of global economic policies, particularly from the US and Japan, and significant legislative changes that could affect Bitcoin adoption. The conversation also highlights the rise of the Midnight Blockchain and its potential in the crypto space.Takeaways✅ The crypto market is heavily influenced by manipulation and speculative news.✅ Regular patterns of market manipulation can be observed, particularly around specific times.✅ China's regulatory actions continue to impact Bitcoin mining and market dynamics. ✅ Interest rate changes in Japan have significant ripple effects on global crypto markets.✅ Legislative changes in the US could unlock substantial Bitcoin demand.✅ Institutional adoption of Bitcoin is increasing, with major banks accepting it as collateral.✅ The SEC is becoming more supportive of crypto, indicating a shift in regulatory stance.✅ Japan's tax reforms could encourage more investment in cryptocurrencies.✅ The Midnight Blockchain is gaining traction and could present new investment opportunities.✅ Understanding global economic policies is crucial for navigating the crypto landscape.Chapters00:00 Overview of the Crypto Landscape01:06 Manipulation03:26 Speculative News 12:31 General Good News18:38 Midnight UpdatesDISCLAIMER: This content is for informational and educational purposes only and is not financial, investment, or legal advice. I am not affiliated with, nor compensated by, the project discussed—no tokens, payments, or incentives received. I do not hold a stake in the project, including private or future allocations. All views are my own, based on public information. Always do your own research and consult a licensed advisor before investing. Crypto investments carry high risk, and past performance is no guarantee of future results. I am not responsible for any decisions you make based on this content.

Climate goals, rising energy demands, and geopolitical pressures are transforming global energy investment strategies. Based on a panel discussion from the 2025 Toronto Global Forum, this episode of Sustainability Leaders examines the impact of industrial demand shifts—such as AI and data centers—on energy investments, effective policy frameworks for de-risking clean energy projects, and approaches to pricing climate-related risks while fostering innovation and private capital. Jason Peel, Managing Director and Head, BMO Radicle moderates a conversation with: Mpho Kubelo, Chief Risk Officer, Development Bank of Southern Africa Jean-Jacques Barbéris, Deputy CEO (Amundi AM) – Head of Institutional and Corporate Clients Division, ESG Supervisor Eric Arnould, General Partner and IR Officer, Jolt Capital Laurent Germain, CEO, Egis Group.

Prospero.ai CEO George Kailas explains why Tesla (TSLA) is currently topping their institutional demand signals and why the company is seen more as a tech stock than an automobile manufacturer. He also shares his apprehension regarding potential rate cuts from the Federal Reserve and the Bank of Japan's interest rate policies. Finally, George offers two stock picks: AST SpaceMobile (ASTS) as his 2026 stock of the year, and Centrus Energy (LEU) as a compelling uranium play.======== Schwab Network ========Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about

From "digital gold" to programmable money, #Bitcoin is waking up to massive institutional interest.We sat down with Kyle Ellicott of Stacks Asia at Token 2049 Singapore to discuss the next era of Bitcoin. This new age is being built layer by layer to unlock the trillion-dollar potential of the most secure asset in the world.In this insightful interview, Kyle Ellicott explains:

Bitcoin has never had better headlines. Institutional adoption. Government-level discussions. Tokenization of global markets. Stablecoins are eating traditional finance alive. And yet… price is stuck. In this episode of the Milk Road Show, Scott Melker breaks down why this market feels so frustrating, confusing, and exhausting, and why that might actually be the most dangerous phase for crypto investors. ~~~~~

Kathryn Ruemmler, a former Obama White House Counsel and prominent Clinton-aligned attorney, has emerged as a largely overlooked but consequential figure in Jeffrey Epstein's post-conviction legal orbit. Ruemmler has characterized her dealings with Epstein as strictly professional, yet efforts by the Epstein estate to block access to correspondence between the two have raised questions about the nature and sensitivity of that relationship. Epstein's legal strategy during his most legally perilous period relied heavily on high-level attorneys capable of managing exposure, controlling risk, and navigating institutional pressure. The estate's resistance to disclosure has drawn attention precisely because Epstein's own reputation no longer requires protection, suggesting concern about potential fallout for others. Despite this, Ruemmler's role has received comparatively little sustained media or political scrutiny.The muted attention to Ruemmler reflects a broader pattern in the Epstein saga, where focus often centers on the abuser while minimizing examination of the professional networks that enabled his continued operation. Legal facilitators, unlike co-conspirators, frequently remain shielded by privilege, credentials, and procedural opacity, even when their work materially contributed to delaying accountability. This dynamic stands in contrast to the treatment of survivors, who face extensive scrutiny while elite actors benefit from silence. Ruemmler's case underscores how Epstein's longevity was not solely the product of individual misconduct, but of institutional mechanisms that absorbed and managed risk on his behalf. Until those enabling structures are examined with the same rigor applied to Epstein himself, critical aspects of the case remain unresolved.to contact me:bobbycapucci@protonmail.com

Institutional knowledge among legislative staff is a core element to maintaining continuity in legislatures around the country. But passing on that knowledge has become challenging as baby boomers retire and younger staff take on those roles.On this episode, our two guests discussed how they used a mentor-mentee relationship to prepare for a job transition. Bernadette “Bernie” McNulty is the retired chief assistant secretary in the California Senate. Heshani Wijemanne is the current chief assistant secretary in the Senate.McNulty explained that, as a manager, she had a critical responsibility to not only find someone to take on her job but to be sure that person was as ready as possible for the challenges ahead. For her part, Wijemanne said learning and absorbing everything she could from McNulty was irreplaceable in preparing herself. ResourcesLegislative Staff, NCSL

We see the diversification mirage – one of our 2026 Outlook themes – playing out in real time with a sharp spike in global bond yields. Natalie Gill, Portfolio Strategist at the BlackRock Investment Institute, explains. FOR PUBLIC DISTRIBUTION IN THE U.S., CANADA, LATIN AMERICA, AUSTRIA, BELGIUM, DENMARK, FINLAND, FRANCE, GERMANY, IRELAND, ISRAEL, ITALY, LIECHENSTEIN, LUXEMBOURG, NETHERLANDS, NORWAY, PORTUGAL, SOUTH AFRICA, SPAIN, SWEDEN, SWITZERLAND, THE UNITED KINGDOM, HONG KONG, SINGAPORE AND AUSTRALIA. FOR INSTITUTIONAL, PROFESSIONAL, QUALIFIED CLIENTS/INVESTORS IN OTHER PERMITTED COUNTRIES. General disclosure: This document is marketing material, is intended for information and educational purposes only, and does not constitute investment advice, a recommendation or an offer or solicitation to purchase or sell any securities or any investment strategies. The opinions expressed are as of [DATE] and are subject to change without notice. Reliance upon information in this material is at the sole discretion of the reader. Investing involves risks. This information is not intended to be complete or exhaustive and no representations or warranties, either express or implied, are made regarding the accuracy or completeness of the information contained herein. This material may contain estimates and forward-looking statements, which may include forecasts and do not represent a guarantee of future performance. In EMEA, in the UK and Non-European Economic Area (EEA) countries: this is Issued by BlackRock Investment Management (UK) Limited, authorised and regulated by the Financial Conduct Authority. Registered office: 12 Throgmorton Avenue, London, EC2N 2DL. Tel: + 44 (0)20 7743 3000. Registered in England and Wales No. 02020394. For your protection telephone calls are usually recorded. Please refer to the Financial Conduct Authority website for a list of authorised activities conducted by BlackRock. In the European Economic Area (EEA): this is Issued by BlackRock (Netherlands) B.V. is authorised and regulated by the Netherlands Authority for the Financial Markets. Registered office Amstelplein 1, 1096 HA, Amsterdam, Tel: 31-20-549- 5200. Trade Register No. 17068311 For your protection telephone calls are usually recorded. In Italy, for information on investor rights and how to raise complaints please go to https://www.blackrock.com/corporate/compliance/investor-right available in Italian. BlackRock Advisors (UK) Limited - Abu Dhabi Global Market (ADGM) Branch is a Branch of a Foreign Company registered with the Abu Dhabi Global Market Registration Authority (Registered number 21523), with its office at Floor 25, Al Sila Tower, Abu Dhabi Global Market Square, Al Maryah Island, Abu Dhabi, UAE, and is regulated by the ADGM Financial Services Regulatory Authority (“FSRA”) to engage in the regulated activities of ‘Arranging Deals in Investments'; ‘Advising on Investments or Credit' ‘Managing Assets'; and ‘Managing in a Collective Investment Fund' (FRSA Reference 240099). Blackrock Advisors (UK) Limited - Dubai Branch is a Dubai International Financial Centre (DIFC) Foreign Recognised Company registered with the DIFC Registrar of Companies (DIFC Registered Number 546), with its office at Unit L15 - 01A, ICD Brookfield Place, DIFC, PO Box 506661, Dubai, UAE, and is regulated by the DFSA to engage in the regulated activities of ‘Advising on Financial Products' and ‘Arranging Deals in Investments' in or from the DIFC, both of which are limited to units in a collective investment fund (DFSA Reference Number F000738). In Albania, Angola, Armenia, Azerbaijan, Botswana, Bulgaria, Egypt, Georgia, Ghana, Jordan, Kazakhstan, Kenya, Kosovo, Lebanon, Mauritius, Morocco, Mozambique, Namibia, Nigeria, North Macedonia, Pakistan, Rwanda, Serbia, Tanzania, Turkey, Uganda, Uzbekistan, Zambia, Zimbabwe, this document is intended strictly for central banks and sovereign investors only. In Israel: BlackRock Investment Management (UK) Limited is not licensed under Israel's Regulation of Investment Advice, Investment Marketing and Portfolio Management Law, 5755-1995 (the “Advice Law”), nor does it carry insurance thereunder. In South Africa, please be advised that BlackRock Investment Management (UK) Limited is an authorized financial services provider with the South African Financial Services Board, FSP No. 43288. In the ADGM, the information contained in this document is intended strictly for Professional Clients. In the DIFC, this material is intended strictly for Professional Clients as defined under the Dubai Financial Services Authority (“DFSA”) Conduct of Business (COB) Rules. In the Kingdom of Bahrain and the Sultanate of Oman, the information contained in this document is intended strictly for sophisticated institutions. In the State of Kuwait, the information contained in this document is intended strictly for sophisticated institutions that are ‘Professional Clients' as defined under the Kuwait Capital Markets Law and its Executive Bylaws. In Qatar, the information contained in this document is intended strictly for sophisticated investors and high net worth investors. In the Kingdom of Saudi Arabia, this material is for distribution to Institutional and Qualified Clients (as defined by the Implementing Regulations issued by Capital Market Authority) only and should not be relied upon by any other persons. In United Arab Emirates (UAE) (excluding the DIFC and the ADGM: the information contained in this document is intended strictly for Professional Investors. In Australia and New Zealand, issued by BlackRock Investment Management (Australia) Limited ABN 13 006 165 975 AFSL 230 523 (BIMA). The material provides general information only and does not take into account your individual objectives, financial situation, needs or circumstances. Refer to BIMAL's Financial Services Guide on its website for more information. In New Zealand, this material is for the exclusive use of the recipient, who warrants by receipt of this material that they are a wholesale client as defined under the New Zealand Financial Advisers Act 2008 respectively. BIMAL is not licensed by a New Zealand regulator to provide ‘Financial Advice Service' ‘Investment manager under an FMC offer' or ‘Keeping, investing, administering, or managing money, securities, or investment portfolios on behalf of other persons'. BIMAL's registration on the New Zealand register of financial service providers does not mean that BIMAL is subject to active regulation or oversight by a New Zealand regulator. In China, this material may not be distributed to individuals resident in the People's Republic of China (“PRC”, for such purposes, excluding Hong Kong, Macau and Taiwan) or entities registered in the PRC unless such parties have received all the required PRC government approvals to participate in any investment or receive any investment advisory or investment management services. In Hong Kong, this material is issued by BlackRock Asset Management North Asia Limited and has not been reviewed by the Securities and Futures Commission of Hong Kong. In Japan, this is issued by BlackRock Japan. Co., Ltd. (Financial Instruments Business Operator: The Kanto Regional Financial Bureau. License No375, Association Memberships: Japan Investment Advisers Association, The Investment Trusts Association, Japan, Japan Securities Dealers Association, Type II Financial Instruments Firms Association) for Institutional Investors only. All strategies or products BLK Japan offer through the discretionary investment contracts or through investment trust funds do not guarantee the principal amount invested. The risks and costs of each strategy or product we offer cannot be indicated here because the financial instruments in which they are invested vary each strategy or product. In Singapore, this is issued by BlackRock (Singapore) Limited (Co. registration no. 200010143N). This advertisement or publication has not been reviewed by the Monetary Authority of Singapore. In South Korea, this information is issued by BlackRock Investment (Korea) Limited, for distribution to Qualified Professional Investors (as defined in the Financial Investment Services and Capital Market Act and its sub-regulations). In Taiwan, independently operated by BlackRock Investment Management (Taiwan) Limited. Address: 28F., No. 100, Songren Rd., Xinyi Dist., Taipei City 110, Taiwan. Tel: (02)23261600. For other APAC countries, this material is issued for Institutional Investors only (or professional/sophisticated /qualified investors, as such term may apply in local jurisdictions). In Latin America, no securities regulator within Latin America has confirmed the accuracy of any information contained herein. The provision of investment management and investment advisory services is a regulated activity in Mexico thus is subject to strict rules. For more information on the Investment Advisory Services offered by BlackRock Mexico please refer to the Investment Services Guide available at www.blackrock.com/mx. ©2025 BlackRock, Inc. or its affiliates. All Rights Reserved. BLACKROCK is a trademark of BlackRock, Inc., or its affiliates. All other trademarks are those of their respective owner.BIIM1225U/M-5064073

Kathryn Ruemmler, a former Obama White House Counsel and prominent Clinton-aligned attorney, has emerged as a largely overlooked but consequential figure in Jeffrey Epstein's post-conviction legal orbit. Ruemmler has characterized her dealings with Epstein as strictly professional, yet efforts by the Epstein estate to block access to correspondence between the two have raised questions about the nature and sensitivity of that relationship. Epstein's legal strategy during his most legally perilous period relied heavily on high-level attorneys capable of managing exposure, controlling risk, and navigating institutional pressure. The estate's resistance to disclosure has drawn attention precisely because Epstein's own reputation no longer requires protection, suggesting concern about potential fallout for others. Despite this, Ruemmler's role has received comparatively little sustained media or political scrutiny.The muted attention to Ruemmler reflects a broader pattern in the Epstein saga, where focus often centers on the abuser while minimizing examination of the professional networks that enabled his continued operation. Legal facilitators, unlike co-conspirators, frequently remain shielded by privilege, credentials, and procedural opacity, even when their work materially contributed to delaying accountability. This dynamic stands in contrast to the treatment of survivors, who face extensive scrutiny while elite actors benefit from silence. Ruemmler's case underscores how Epstein's longevity was not solely the product of individual misconduct, but of institutional mechanisms that absorbed and managed risk on his behalf. Until those enabling structures are examined with the same rigor applied to Epstein himself, critical aspects of the case remain unresolved.to contact me:bobbycapucci@protonmail.comBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-moscow-murders-and-more--5852883/support.

Kathryn Ruemmler, a former Obama White House Counsel and prominent Clinton-aligned attorney, has emerged as a largely overlooked but consequential figure in Jeffrey Epstein's post-conviction legal orbit. Ruemmler has characterized her dealings with Epstein as strictly professional, yet efforts by the Epstein estate to block access to correspondence between the two have raised questions about the nature and sensitivity of that relationship. Epstein's legal strategy during his most legally perilous period relied heavily on high-level attorneys capable of managing exposure, controlling risk, and navigating institutional pressure. The estate's resistance to disclosure has drawn attention precisely because Epstein's own reputation no longer requires protection, suggesting concern about potential fallout for others. Despite this, Ruemmler's role has received comparatively little sustained media or political scrutiny.The muted attention to Ruemmler reflects a broader pattern in the Epstein saga, where focus often centers on the abuser while minimizing examination of the professional networks that enabled his continued operation. Legal facilitators, unlike co-conspirators, frequently remain shielded by privilege, credentials, and procedural opacity, even when their work materially contributed to delaying accountability. This dynamic stands in contrast to the treatment of survivors, who face extensive scrutiny while elite actors benefit from silence. Ruemmler's case underscores how Epstein's longevity was not solely the product of individual misconduct, but of institutional mechanisms that absorbed and managed risk on his behalf. Until those enabling structures are examined with the same rigor applied to Epstein himself, critical aspects of the case remain unresolved.to contact me:bobbycapucci@protonmail.comBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support.

As the year closes, mutual funds and hedge funds engage in "window dressing", the practice of buying winners and selling losers to make their quarterly reports look good. This creates artificial price movements in December that retail investors can exploit.Today's Stocks & Topics: Vertiv Holdings Co (VRT), Market Wrap, KPP Newsletter, Invesco KBW Bank ETF (KBWB), “Institutional "Window Dressing" Season”, Global X Data Center & Digital Infrastructure ETF (DTCR), Key Benchmark Numbers: Treasury Yields, Gold, Silver, Oil and Gasoline, The Oil Market, Fifth Third Bancorp (FITB), TerraVest Industries Inc. (TVK.TO), Medtronic plc (MDT), Goldman Sachs Nasdaq-100 Premium Income ETF (GPIQ), Gold.Our Sponsors:* Check out Incogni: https://incogni.com/investtalk* Check out Invest529: https://www.invest529.com* Check out NordProtect: https://nordprotect.com/investalk* Check out Progressive: https://www.progressive.com* Check out Quince: https://quince.com/INVEST* Check out TruDiagnostic and use my code INVEST for a great deal: https://www.trudiagnostic.comAdvertising Inquiries: https://redcircle.com/brands

For decades, the field of scholarship that studies the law and practice of international organisations -also known as 'international institutional law'- has been marked by an intellectual quietism. Most of the scholarship tends to focus narrowly on providing 'legal' answers to 'legal' questions. For that reason, perspectives rarely engage with the insights of critical traditions of legal thought (for instance, feminist, postcolonial, or political economy-oriented perspectives) or with interdisciplinary contributions produced outside the field. Ways of Seeing International Organisations: New Perspectives for International Institutional Law (Cambridge UP, 2025) edited by Dr. Negar Mansouri & Dr. Daniel R. Quiroga-Villamarín challenges the narrow gaze of the field by bringing together authors across multiple disciplines to reflect on the need for 'new' perspectives in international institutional law. Highlighting the limits of mainstream approaches, the authors instead interrogate international organisations as pivots in processes of world-making. To achieve this, the volume is organised around four fundamental themes: expertise; structure; performance; and capital. This title is also available as Open Access on Cambridge Core. This interview was conducted by Dr. Miranda Melcher whose book focuses on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars. You can find Miranda's interviews on New Books with Miranda Melcher, wherever you get your podcasts Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

Kicking the tires After two weeks off, the Weekender picks back up with a chat about the data in recent weeks and a probing of the upside and downside risks to the 2026 outlook. Two underappreciated issues for the US are also discussed: still-to-come immigration drags and the hit to growth and inflation from health care costs. Speakers: Bruce Kasman Joseph Lupton   This podcast was recorded on December 12, 2025. This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures. © 2025 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. It is strictly prohibited to use or share without prior written consent from J.P. Morgan any research material received from J.P. Morgan or an authorized third-party (“J.P. Morgan Data”) in any third-party artificial intelligence (“AI”) systems or models when such J.P. Morgan Data is accessible by a third-party. It is permissible to use J.P. Morgan Data for internal business purposes only in an AI system or model that protects the confidentiality of J.P. Morgan Data so as to prevent any and all access to or use of such J.P. Morgan Data by any third-party.

For decades, the field of scholarship that studies the law and practice of international organisations -also known as 'international institutional law'- has been marked by an intellectual quietism. Most of the scholarship tends to focus narrowly on providing 'legal' answers to 'legal' questions. For that reason, perspectives rarely engage with the insights of critical traditions of legal thought (for instance, feminist, postcolonial, or political economy-oriented perspectives) or with interdisciplinary contributions produced outside the field. Ways of Seeing International Organisations: New Perspectives for International Institutional Law (Cambridge UP, 2025) edited by Dr. Negar Mansouri & Dr. Daniel R. Quiroga-Villamarín challenges the narrow gaze of the field by bringing together authors across multiple disciplines to reflect on the need for 'new' perspectives in international institutional law. Highlighting the limits of mainstream approaches, the authors instead interrogate international organisations as pivots in processes of world-making. To achieve this, the volume is organised around four fundamental themes: expertise; structure; performance; and capital. This title is also available as Open Access on Cambridge Core. This interview was conducted by Dr. Miranda Melcher whose book focuses on post-conflict military integration, understanding treaty negotiation and implementation in civil war contexts, with qualitative analysis of the Angolan and Mozambican civil wars. You can find Miranda's interviews on New Books with Miranda Melcher, wherever you get your podcasts Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/critical-theory

New Discourses Bullets, Ep. 137 Virtually every institution in the world runs not only on official knowledge but also on something called "institutional knowledge," which is passed from older "generations" in the institution to younger ones. What happens when there's an interruption in the accumulation and transmission of institutional knowledge, though? Eventually, the answer is institutional collapse, but it usually takes us by surprise because our institutions keep running just fine until it's all of a sudden too late. In this eye-opening episode of New Discourses Bullets, host James Lindsay introduces you to this important topic. Join him and start thinking about how we can deal with it before the catastrophe arrives. Latest from New Discourses Press! The Queering of the American Child: https://queeringbook.com/ Support New Discourses: https://newdiscourses.com/support Follow New Discourses on other platforms: https://newdiscourses.com/subscribe Follow James Lindsay: https://linktr.ee/conceptualjames © 2025 New Discourses. All rights reserved. #NewDiscourses #JamesLindsay

In this episode of PoliTicks, hosts Brian McWilliams, John Odermatt, and Brian Nichols tackle a variety of intense and engaging topics. After some light-hearted banter, the discussion heats up with the shocking news surrounding Michigan's former head coach, Sherrone Moore, and the disturbing allegations against him. The hosts then dive into the alarming revelations about the COVID vaccine trials involving children and explore the controversial response from authorities. Other major segments include a deep dive into the European Union's policies on immigration and the potential downfall of the EU as a result of these policies. The episode also touches on the ongoing issues of diversity and equity within corporate America. The hosts emphasize the need for more open discourse and transparency as the episode wraps up with reflections on the socio-political implications of recent events and future challenges. Chapters: 00:00 Introduction and Casual Banter 02:24 Dental Work Woes and Novocaine Stories 04:12 Michigan Scandal and Dave Portnoy Rant 08:12 Height and Weight Discussions 14:04 EU and Ukraine's Treasury Debt Threat 22:46 The EU's Imminent Downfall 23:34 Cultural Pushback in Europe 26:02 Immigration and Political Shifts 28:00 Gen Z's Political Discontent 30:43 The Need for Mass Deportations 38:46 Corporate America's Diversity Dilemma 43:02 COVID-19 Vaccine Controversies 50:41 Concluding Thoughts and Future Plans Links: Sherrone Moore Fired After Rampage and Arrest https://x.com/BoNix1O/status/1998995459847893189?s=20 Seinfeld Clip Comparing Moore Scandal to George and the Cleaning Lady https://x.com/TheMattBeebe/status/1999070757528170951?s=20 Sherrone Moore's Dog “Not Fooled” Reaction Post https://x.com/15thCenturyLiz/status/1999015894002061804?s=20 EU and Ukraine Consider Dumping U.S. Debt if Trump Cuts Deal With Putin https://www.armstrongeconomics.com/world-news/geopolitical/eu-zelensky-contemplating-dumping-all-us-debt-if-trump-strikes-deal-with-putin/ EU Migrant Fines for Nations Refusing Intake https://x.com/petersweden7/status/1998816019385823434?s=46 Reported Cases of Children Dying After Covid Shots https://x.com/wesyang/status/1998785768299651500?s=46 Get access to all of our bonus audio content, livestreams, behind-the-scenes segments and more for as little as $5 per month by joining the Lions of Liberty Pride on Patreon OR support us on Locals! Check out our merchandise at the Lions of Liberty Store for all of our awesome t-shirts, mugs and hats! Learn more about your ad choices. Visit megaphone.fm/adchoices

Bitcoin chops around ~$90k after a brief move toward ~$94k, highlighting a “flat net” year vs late-2024 levelsBrady revisits a long-running thesis: institutions, corporates, and nation-states may be dampening the classic four-year boom/bust cycleMatthew Sigel (via Bernstein) is cited arguing for an elongated cycle, limited ETF outflows during a ~30% correction, and higher long-range price targetsThe show contrasts Bitcoin and gold narratives, using a long-cycle framework to discuss “debasement trade” environments and why hard assets can rotate vs equitiesThe Fed's latest moves are framed as balance-sheet expansion via “reserve management purchases” of T-bills—QE-by-another-name and “money printing,” even if not labeled QEA Supreme Court case is discussed regarding presidential removal authority of federal officials, and why the Fed is viewed as a politically sensitive “special case”Michael Saylor posts a cryptic “guess the bank” photo (identified by viewers as JPMorgan HQ), fueling speculation about warming big-bank relationshipsBitGo receives conditional OCC approval to convert to a national trust bank, emphasizing 100% reserves and nationwide digital-asset custody authorityDo Kwon is sentenced (15 years) for the Terra/Luna collapse; the hosts discuss “orange-washing” and how Bitcoin branding can be used to legitimize scamsSatoshi's final public post anniversary is noted as a core “feature” of Bitcoin—no founder, no leader, no centralized rule-changes—followed by a Swan product and services overview Swan Private helps HNWI, companies, trusts, and other entities go beyond legacy finance with BItcoin. Learn more at swan.com/private. Put Bitcoin into your IRA and own your future. Check out swan.com/ira.Swan Vault makes advanced Bitcoin security simple. Learn more at swan.com/vault.

The Last Trade: Tad Smith unpacks why Bitcoin's “disappointing” 2025 might be the perfect setup, how gold and sovereign flows are quietly rewriting the sound money playbook, and what AI, labor shocks, and Fed policy mean for younger generations staring at a broken system and a massive opportunity.---

Interview with David Wolfin, President and CEO, Avino Silver & GoldOur previous interview: https://www.cruxinvestor.com/posts/avino-silver-gold-tsxasm-junior-to-intermediate-producer-transformation-underway-8062Recording date: 9th December 2025Avino Silver & Gold Mines Limited is executing an ambitious expansion plan to transform from a single-asset producer into a diversified mid-tier mining company. The Mexico-based operation, which traces its roots to 1968, currently generates between 2.5 and 2.8 million ounces of silver equivalent annually and aims to triple its producing asset base within five years through organic development of properties it already owns.The company's third quarter 2025 results underscore the financial strength supporting this growth trajectory. Avino achieved record revenues of $21 million USD with $9.9 million in gross profit and approximately $5 million in free cash flow. All-in sustaining costs remain in the low $20s per ounce, creating substantial margins as silver approaches $60 per ounce. Revenue composition is diversified across 49% silver, 19% gold, and 31% copper, providing natural commodity price hedging.La Preciosa represents the most immediate production catalyst. Located 19 kilometers from the existing Avino mill, the project commenced ore extraction one month ahead of schedule, shipping over 6,700 tons during the recent quarter. Early drilling results have significantly exceeded previous feasibility estimates, with intercepts reaching 787 grams per ton of silver compared to the 200 g/t resource grade established by prior operator Coeur Mining. President and CEO David Wolfin noted these high-grade hits suggest actual mining grades will substantially exceed earlier projections.The company's third potential producing asset involves reprocessing historical oxide tailings adjacent to current operations. With 6.7 million tons in proven and probable reserves and capital requirements under $50 million, the project offers particularly attractive economics with projected all-in sustaining costs around $10 per ounce. At current metal prices, Wolfin estimates the project's net present value at approximately $250 million.Supporting this expansion, Avino has more than doubled its exploration budget for 2026, planning 20,000 to 30,000 meters of drilling across both properties. Institutional ownership has risen from under 10% to 32% over two years through organic open-market purchases, validating the growth thesis. Management expects to release updated resource and reserve estimates for both La Preciosa and Avino in the first quarter of 2026.Learn more: https://www.cruxinvestor.com/companies/avino-silver-gold-mines-ltdSign up for Crux Investor: https://cruxinvestor.com

This week, CIO of Bitwise Matt Hougan joins the show to discuss fading the power of the four-year cycle, the accelerating wave of institutional adoption, and whether Strategy selling its Bitcoin is a real risk. Matt also weighs in on the Santi-Haseeb L1 debate, balancing token value with investment, and what he thinks drives the next phase of growth. Enjoy! — Follow Matt: https://x.com/Matt_Hougan  CIO Memo: https://bit.ly/4pK4gmC  Follow Jason: https://x.com/JasonYanowitz  Follow Santi: https://x.com/santiagoroel  Follow Empire: https://twitter.com/theempirepod  — Zcash is encrypted Bitcoin. Your digital bill of rights securing your freedom for the 21st century. Buy, store and spend ZEC privately using Zashi Wallet download today: https://electriccoin.co/zashi/ — Katana is a DeFi-first chain built for deep liquidity and high yield. No empty emissions, just real yield and sequencer fees routed back to DeFi users.Pre-deposit now: Earn high APRs with Turtle Club [https://app.turtle.club/campaigns/katana] or spin the wheel with Katana Krates https://app.katana.network/krates—This Empire episode is brought to you by VanEck.Learn more about the VanEck Onchain Economy ETF (NODE): http://vaneck.com/EmpireNODEAn investment in the Fund involves substantial risk and is not suitable for all investors. You may lose your entire principal investment. The Fund may invest nearly all of its net assets in Digital Transformation Companies and/or Digital Asset Instruments but does not invest in digital assets or commodities directly.Digital Asset Instruments may involve risks tied to investing in digital asset exchange-traded products (“ETPs”), including the historically extreme volatility of digital asset and cryptocurrency markets and reduced regulation and investor protections, as these ETPs are not registered investment companies under the Investment Company Act of 1940 (“1940 Act”) or commodity pools under the Commodity Exchange Act (“CEA”).Investing involves substantial risk and high volatility, including possible loss of principal. Visit vaneck.com to review the prospectus, including the Fund's investment objective, risks, and fees, before investing.© Van Eck Securities Corporation, Distributor, a wholly owned subsidiary of Van Eck Associates Corporation.—GEODNET is the world's largest RTK network, delivering real-time, centimeter-level precision for drones, robots, farmers, and first responders. Recognized by the U.S. Congress, this blockchain-powered network supports mission-critical applications across a wide range of industries.Discover how GEODNET is changing the world: [https://geodnet.com]—Uniswap's Trading API offers plug-and-play access to deep onchain and off-chain liquidity, delivering enterprise-grade crypto trading without the complexity - from one of the most trusted teams in DeFi.Click to get started with seamless, scalable access to Uniswap's powerful onchain trading infrastructure.https://bit.ly/4pt0Fd0 — Timestamps 00:00 Intro 03:28 2026 vs The Four Year Cycle 05:06 Bitcoin Covered Call Strategy 07:44 The Case Against The 4-Year Cycle 11:14 Ads (Zcash, Katana) 12:31 Will Strategy Sell Its Bitcoin? 16:36 Inside The Institutional Mind 24:24 How Advisors Think About Crypto 27:40 The Best Stories In Crypto 30:23 Ads (Zcash, Katana) 31:39 Risk-First Investing 33:01 L1 Debate: Haseeb vs Santi 36:19 Balancing Token Value & Investment 40:16 Ads (VanEck, Uniswap) 41:58 Zcash & The Privacy Narrative 44:29 The Future Of ICOs 46:55 The Token-Equity Convergence 48:19 Final Thoughts — Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.

John Chang interviews the commercial real estate market itself as he breaks down how healthcare hiring is propping up national job growth while most other sectors soften, and why that makes medical office one of the strongest asset classes going forward. He explains how an aging population and persistent healthcare labor shortages are driving durable demand, limited new supply, stable vacancies around 9%, and long-term leases with built-in rent bumps that support medical office performance. John then shifts to the multifamily outlook, highlighting Sun Belt oversupply and concessions versus tighter conditions in the Midwest and coastal markets, along with delayed household formation among young adults that is creating pent-up demand. He closes by outlining why institutional capital is ramping back into CRE—NACREIF total returns turning positive, higher fund-raising volumes, and rising target allocations—which should lead to more competition for deals and eventual cap rate compression in 2026, assuming policy and geopolitical risks stay contained Get 50% Off Monarch Money, the all-in-one financial tool at www.monarchmoney.com with code BESTEVER Start earning passive income today at gsprei.com/bestever Alternative Fund IV is closing soon and SMK is giving Best Ever listeners exclusive access to their Founders' Shares, typically offered only to early investors. Visit smkcap.com/bec to learn more and download the full fund summary. Join us at Best Ever Conference 2026! Find more info at: https://www.besteverconference.com/  Join the Best Ever Community  The Best Ever Community is live and growing - and we want serious commercial real estate investors like you inside. It's free to join, but you must apply and meet the criteria.  Connect with top operators, LPs, GPs, and more, get real insights, and be part of a curated network built to help you grow. Apply now at⁠ ⁠⁠⁠www.bestevercommunity.com⁠⁠ Podcast production done by⁠ ⁠Outlier Audio⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices

The first traditional exchange-listed bitcoin and ether perpetual futures in Asia with Laurent Poirot, SGX Group's Head of Strategy for Derivatives. In today's Markets Outlook, SGX Group's Head of Strategy for Derivatives, Laurent Poirot, joins CoinDesk's Andy Baehr to discuss the launch of the first traditional exchange-listed bitcoin and ether perpetual futures in Asia. He breaks down how this groundbreaking product merges crypto-native innovation with trusted TradFi infrastructure to meet surging institutional demand. - Break the cycle of exploitation. Break down the barriers to truth. Break into the next generation of privacy. Break Free. Free to scroll without being monetized. Free from censorship. Freedom without fear. We deserve more when it comes to privacy. Experience the next generation of blockchain that is private and inclusive by design. Break free with Midnight, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠midnight.network/break-free⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - Need liquidity without selling your crypto? Take out a ⁠⁠⁠⁠⁠⁠Figure Crypto-Backed Loan⁠⁠⁠⁠⁠⁠, allowing you to borrow against your BTC, ETH, or SOL with 12-month terms and no prepayment penalties. They have the lowest rates in the industry at 8.91%, allowing you to access instant cash or buy more Bitcoin without triggering a tax event. Unlock your crypto's potential today at Figure! ⁠⁠⁠⁠⁠⁠https://figuremarkets.co/coindesk⁠⁠⁠⁠⁠⁠ - This episode was hosted by Andy Baehr.

EU Integration as Deeper Western Engagement Than NATO — Anatol Lieven — Lieven argues that European Union membership offers Ukraine more comprehensive integration into Western institutional and economic structures than NATO alliance membership alone, though EU accession requires massive institutional economic reforms and governance restructuring. Lieven documents that Russia strategically demands that Ukraine conduct new democratic elections to validate peace settlements and ensure regime commitment to negotiated agreements. Lieven notes the strategic paradox that the United States conspicuously avoids pushing for electoral validation that could provide democratic legitimacy to negotiated territorial compromises. 1936 MUNICH

In this episode, I sit down with Yury Mitin, Partner and CBDO at AlphaTON Capital, one of the first public digital asset treasury companies focused on the TON ecosystem and Telegram economy.We explore the meeting point of Wall Street discipline and crypto-native culture, and how TON is evolving from a token into a real business ecosystem built on top of one of the most used apps in the world.From entering public markets through eToro to evaluating TON startups, Yury breaks down what makes TON different, how acquisitions work, and why real revenue matters more than hype.We discuss the growth of mini apps, AI agents, TON wallet adoption, Telegram bonds, MasterCard integration, and why real utility could shape TON into a top ecosystem in the coming years.Yury explains:

Should there be rules in war? Hit first and hard. Anything to politically hurt Donald Trump. Institutional knowledge. “Journalists” trying to lie to the public. Follow The Jesse Kelly Show on YouTube: https://www.youtube.com/@TheJesseKellyShowSee omnystudio.com/listener for privacy information.

PREVIEW — Gregory Copley — King Charles III and the German State Visit. Gregory Copley discusses the strategic success of King Charles III in representing state institutional continuity and constitutional authority amidst pervasive political division fracturing British governance. Copley highlights the symbolic and political significance of the Kingwelcoming German President Frank-Walter Steinmeier on a formal state visit, demonstrating that the British Crownremains institutionally strong, politically independent, and distinct from the "grubby politics" currently destabilizing British government and parliamentary institutions, thereby preserving constitutional monarchy's stabilizing role transcending partisan conflict. 1808 BANK OF ENGLAND

Brussels Attempts Deregulation — Joseph Sternberg — Sternberg describes the European Union's complex multi-institutional governance structure and recent tentative moves toward deregulation, particularly regarding climate reporting requirements and digital technology regulations. Sternberg argues that Brussels officials are gradually acknowledging that excessive regulatory frameworks systematically damage economic competitiveness and drive entrepreneurs from European jurisdictions toward more favorable regulatory environments. Sternberg emphasizes that these modest deregulatory reforms confront a race against accelerating economic decline, requiring more aggressive structural reforms to restore European competitiveness relative to American and Chinese competitors. 1906 BRUSSELS

PREVIEW — Mary Kissel — Missing Diplomatic Memory and the Russian Challenge. Kissel argues that current U.S.diplomats possess insufficient institutional memory and negotiating experience to effectively engage a nuclear-armed peer competitor like the former Soviet Union, now resurgent as Russia under Putin. Kissel emphasizes that the U.S. currently lacks a Senate-confirmed ambassador to Russia, critically limiting the American embassy's political influence and direct access to White House decision-making structures. Kissel documents that this ambassadorial vacancy reflects deeper institutional erosion of American diplomatic expertise and strategic communication capabilities regarding Russiannegotiations, creating dangerous capacity gaps precisely when Moscow possesses nuclear weapons and elevated geopolitical ambitions. 1931 STALIN & GORKY