Podcasts about jp morgan chase

The convergence between traditional finance and public blockchain is no longer theoretical. It's live, it's operational, and it's scaling. Oli Harris, Head of Kinexys, and Emma Landriault, Head of Labs from Kinexys by J.P. Morgan discuss what's driving institutional adoption today, why compliance, privacy, and finality are the design requirements that separate what works from what doesn't, how deposit tokens and stablecoins each serve distinct roles, and where the next wave of value creation is headed as friction continues to be removed across the value chain.   This episode was recorded on May 19, 2026.   ©2026 JPMorgan Chase & Co. All rights reserved. JPMorgan Chase Bank, N.A. Member FDIC. Deposits held in non-U.S. branches are not FDIC insured. Non-deposit products are not FDIC insured. The statements herein are confidential and proprietary and not intended to be legally binding. Visit jpmorgan.com/payments disclosure for further disclosures and disclaimers related to this content. This video-podcast/guide is confidential and proprietary to J.P. Morgan and is provided for your general information only. It is subject to change without notice and is not intended to be legally binding. Any services described in this video-podcast/guide are subject to applicable laws and regulations and service terms. Not all products and services are available in all locations. Eligibility for particular products and services will be determined by JPMorgan Chase Bank, N.A. or its affiliates. J.P. Morgan makes no representations as to the legal, regulatory, tax or accounting implications of the matters referred to herein. Any mentions of third-party trademarks, brand names, products and services are for referential purposes only and any mention thereof is not meant to imply any sponsorship, endorsement, or affiliation. J.P. Morgan and J.P. Morgan Payments are marketing names for certain businesses of JPMorgan Chase & Co. and its affiliates and subsidiaries worldwide JPMorgan Chase Bank, N.A., organized under the laws of U.S.A. with limited liability. The views and opinions expressed herein are those of the author or speakers and do not necessarily reflect the views of J.P. Morgan, its affiliates, or its employees. The information set forth herein has been obtained or derived from sources believed to be reliable. Neither the author or speakers nor J.P. Morgan makes any representations or warranties as to the information's accuracy or completeness. The information contained herein has been provided solely for informational purposes and does not constitute an offer, solicitation, advice or recommendation, to make any investment decisions or purchase any financial instruments and may not be construed as such. ©2026 JPMorgan Chase & Co. All rights reserved.

Patrick Moorhead and Daniel Newman cover Daniel's acquisition of Enterprise Technology Research, IBM's historic $15 billion single-day commitment spanning quantum and open-source security, Anthropic's Claude Opus 4.8, and the heaviest single earnings night of the season featuring Dell, Marvell, Salesforce, Synopsys, Snowflake, HP, and Micron crossing $1 trillion in market cap. The handpicked topics for this week are: Anthropic Releases Claude Opus 4.8: Six Weeks After 4.7 Anthropic dropped Opus 4.8 just six weeks after 4.7, claiming it surpasses GPT-5.5 and Gemini 3.1 Pro on agentic coding, knowledge work, and computer use. Benchmark improvements across the board: agentic coding up from 64.3% to 69.2%, knowledge work from 1753 to 1890, agentic computer use from 82.8% to 83.4%. Three new features ship alongside it: Dynamic Workflows for multi-subagent orchestration inside Claude Code, Effort Control for managing token spend, and mid-task system messages via the API. Fast mode is now 2.5x faster and 3x cheaper. Pat's honest take: what it says on paper is good, particularly on tool triggering and citation precision, but he has lost significant trust in the company and is watching closely. (The Decode)   IBM Commits $10 Billion to Quantum: The Largest Single Quantum Bet in History IBM announced a $10 billion commitment over five years targeting a large-scale fault-tolerant quantum computer by 2029, landing the same day as the $5 billion Project Lightwell announcement for a single-day IBM strategic commitment of $15 billion. Pat has been calling 2029 to 2031 as the realistic commercial quantum window and calls this the strongest single corporate financial signal yet that the timeline is real. Daniel's framing: IBM wants to be the NVIDIA of quantum, and with a $10 billion commitment, it's sending a flare to the entire industry that pure-play quantum companies cannot compete at this balance sheet level. (The Decode)   IBM and Red Hat Launch Project Lightwell: $5B to Secure Open-Source Software IBM and Red Hat committed $5 billion and a global force of 20,000 engineers to secure open-source software for enterprises through frontier agentic AI, anchored by 11 of the largest US and Canadian banks including Bank of America, Goldman Sachs, JPMorgan Chase, Mastercard, and Visa. Pat's read: this is the productization answer to Anthropic Mythos. Mythos found the vulnerabilities. Lightwell is the industrial-scale patching and validation layer enterprises can actually buy on a subscription. Daniel adds that IBM is flexing its engineering talent base as a premium strategic asset, a direct counter to the narrative that AI replaces engineers. (The Decode)   Anthropic Project Glasswing: 23,000 Vulnerabilities Found Across 1,000 OSS Projects Anthropic's Claude Mythos scanned more than 1,000 widely deployed open-source projects and surfaced approximately 23,000 candidate vulnerabilities, with 1,094 confirmed as critical severity. The Cyber Verification Program now gates the strongest cyber-capable Claude variant behind vetted defenders only. While the tool creates real value, the surface of attack will likely grow as fast as any tool built to defend it. (The Decode)   Anthropic in Talks to Run Claude on Microsoft Maia 200 CNBC and The Information reported Microsoft is in active negotiations to supply Anthropic with its custom Maia 200 inference chip, which would make Anthropic the only frontier lab simultaneously running production workloads on four distinct silicon stacks: NVIDIA, AWS Trainium, Google TPU, and Microsoft Maia. Pat's context: Maia 200 delivers 30% better tokens per dollar than the latest Azure fleet per Satya Nadella, and this deal would be Maia's first major external deployment. Daniel's read: what can be built will be sold right now, and Anthropic chasing every available compute source is simply the structural reality of growing at 80x when you planned for 10x. (The Decode)   The Flip: Is AI CapEx Too Expensive to Earn Its Return? Pat takes the affirmative. With $725 billion in hyperscaler CapEx tracking for 2026, likely $1 trillion next year, memory has become the choke point making it even more expensive, and open-source models have closed enough of the quality gap for most enterprise tasks that the premium of frontier APIs is increasingly hard to justify. A recent Signal65 white paper shows on-prem payback at 18 months. Daniel's counter: Dell just booked $24 billion in AI orders in a single quarter. Agentforce crossed $1 billion ARR at 169% growth. NVIDIA guided to $91 billion. Only 20% of enterprises are using AI and only 2% of consumers. Both hosts admitted off the flip their notes looked nearly identical. (The Flip)   Micron Crosses $1 Trillion Market Cap Micron became the 12th US company ever to cross $1 trillion in market cap, surging 19% on May 26th as UBS raised its price target to $1,625, implying a $1.8 trillion market cap. Samsung's Q1 memory ASP jumped 146% year over year. DRAM spot prices spiked 55 to 60% quarter over quarter. Daniel has been pounding this call since sub-$100 and calls it a cycle elongated beyond anything seen in the 27 prior memory cycles, driven by HBM capacity reallocation away from consumer DRAM creating structural shortage. (Bulls and Bears)   Dell Technologies Q1 FY27: The Biggest Enterprise AI Infrastructure Print of 2026 Record $43.8 billion revenue, up 88% year over year, crushing the $35.7 billion consensus by $8 billion. AI-optimized servers at $16.1 billion, up 757% year over year. $24.4 billion in AI orders booked in a single quarter. FY27 AI server revenue guide raised from $50 billion to $60 billion. Non-GAAP EPS of $4.86 beat the $2.96 consensus by 64%. Stock up 18% after hours. Pat's framing: Dell was very clear about what they were going to do. Rack engineering, sales, and service. The basics. And they executed the basics at an extraordinary level while building a special relationship with NVIDIA who views Dell as a market maker for both enterprise and NeoCloud. Daniel's add: play nice and win. Michael Dell navigated the political landscape brilliantly and pulled the entire Dell brand along with him. (Bulls and Bears)   Marvell Technology Q1 FY27: Record Revenue, Data Center at 76% of Mix Record $2.418 billion revenue, up 28% year over year. Data center at $1.833 billion, up 27% year over year, now 76% of total revenue. Q2 guide of $2.7 billion at midpoint accelerates growth to 35% year over year. Operating cash flow a record $638.8 million. Daniel went on TV and said it's "written in the stars," arguing the market had misunderstood this one for too long by conflating its custom AI ASIC story with the full breadth of its connectivity and networking portfolio. Pat's closing: the shorts are eating it now and the custom AI ASIC versus merchant GPU debate is finally settling into the right answer, which is both in lockstep. (Bulls and Bears)   Salesforce Q1 FY27: Agentforce Crosses $1 Billion ARR Revenue $11.13 billion, up 13% year over year. Non-GAAP EPS of $3.88 crushed the $3.12 consensus by 24%. Agentforce ARR crossed $1 billion, up 169% year over year, with 28.6 trillion tokens processed, up 152% quarter over quarter. 50% of Agentforce bookings came from existing customers expanding. Daniel flagged the $25 billion accelerated buyback funded by new debt as an interesting signal worth watching. Pat's bottom line: it's not perfect, but certainly no "SaaSpocalypse" in those numbers. (Bulls and Bears)   Synopsys Q2 FY26: First Full Quarter With Ansys Integrated Revenue $2.276 billion, up 42% year over year, beating consensus. Non-GAAP EPS of $3.35 beat $3.15. FY26 guide raised to $9.665 billion midpoint. Daniel's framing: every chip runs through Synopsys tools, and the Ansys addition makes it the full-stack co-design platform Jensen Huang keeps talking about. Synopsys is not just the pick and shovel of current AI silicon. It is the pick and shovel of quantum, robotics, and space as well. (Bulls and Bears)   Snowflake Q1 FY27: Strongest Sequential Dollar Growth in Company History Product revenue $1.33 billion, up 34% year over year, the strongest sequential dollar growth in Snowflake history. Net revenue retention 126%. FY27 product revenue guide raised to $5.84 billion. Natoma acquisition announced for secure agentic enterprise connectivity. New $6 billion multi-year AWS commitment. Daniel's closing: proprietary unique data is the real moat of the agentic era, and that data has to live somewhere. It is going to go to platforms like Snowflake. (Bulls and Bears)   HP Inc. Q2 FY26: Eight Straight Quarters of Growth With AI PCs at 44% of Shipments Revenue $14.4 billion, up 9% year over year, the company marks its eighth consecutive quarter of top-line growth. Non-GAAP EPS of $0.86 beat the prior guide. Personal Systems at $10.2 billion, up 13%, with 30% operating profit growth. AI PCs jumped from 35% to 44% of shipments quarter over quarter, with HP guiding to 60 to 70% next fiscal year. FY26 EPS guide raised. Pat's note: they still need a permanent CEO, which would help investors sleep better at night. Daniel's add: the real explosive moment for device companies comes when AI moves to the edge and enterprises shift from expensive frontier model consumption to on-device inference. (Bulls and Bears)   Everpure Q1 FY27: Record Revenue, Rebrand Complete Record revenue of $1.1 billion, up 35% year over year. Product revenue $577 million, up 55%. Subscription ARR at $2 billion. FY27 guide raised to $4.41 to $4.51 billion. Pure Storage officially completed its rebrand to Everpure. Daniel's emerging thesis: the agentic era has focused enormous attention on memory and compute, but after the inference runs, the data has to sit somewhere. Storage has not seen its full inflection yet and Everpure is well positioned when that wave arrives. (Bulls and Bears)   The Decode Anthropic Releases Claude Opus 4.8 May 28  https://techcrunch.com/2026/05/28/anthropic-releases-opus-4-8-with-new-dynamic-workflow-tool/ IBM Commits $10B Over Five Years to Quantum Computing the Same Day as $5B Project Lightwell, Bringing IBM's One-Day AI https://www.barrons.com/articles/ibm-stock-quantum-computing-aafbb1eb IBM + Red Hat Announce Project Lightwell  https://newsroom.ibm.com/2026-05-28-ibm-and-red-hat-commit-5-billion-to-redefine-the-future-of-open-source-in-the-ai-era Anthropic Project Glasswing / Claude Mythos Finds 23,000 Potential Vulnerabilities Across 1,000+ Open-Source Projects https://www.securityweek.com/anthropic-mythos-detected-23000-potential-vulnerabilities-across-1000-oss-projects/ Anthropic Negotiating to Run Claude on Microsoft's Maia 200 AI Chips  https://www.cnbc.com/2026/05/21/anthropic-microsoft-maia-200-ai-chip.html OpenAI + Anthropic Walk Back the AI Jobs Apocalypse Ahead of IPOs https://finance.yahoo.com/sectors/technology/articles/ai-chiefs-walk-back-job-193605798.html https://x.com/RiskCentre/status/2059397756016611668 The Flip Is AI Capex Becoming Too Expensive to Earn Its Return — and Will the Result Be a Forced Shift to Open-Source and Smaller Use-Case-Specific Models, or a Continued $725B+ Hyperscaler Buildout That Vindicates the Capex on Productivity Gains? FOR:  The shift is to open-source + smaller use-case-specific models with better token economics, not away from AI https://x.com/danielnewmanUV/status/2059822712122400975 DeepSeek 75% permanent price cut + Anthropic Claude Code restriction reversal https://www.buildfastwithai.com/blogs/ai-news-today-may-26-2026 $190B Microsoft capex + $725B+ aggregate hyperscaler capex with no analog ROI yet  https://www.buildfastwithai.com/blogs/ai-news-today-may-26-2026   AGAINST:  Salesforce Agentforce ARR crossed $1B this quarter on 28.6T tokens processed  https://www.stocktitan.net/sec-filings/CRM/8-k-salesforce-inc-reports-material-event-3b8ead2852bb.html Lenovo +105% AI revenue, +84% Q4; Dell $43B AI backlog: the AI infrastructure flywheel is converting capex to revenue today https://investor.marvell.com/news-events/press-releases/detail/1023/marvell-technology-inc-reports-first-quarter-of-fiscal-year-2027-financial-results NVIDIA $91B Q2 guide + $1T Blackwell+Vera Rubin CY25-CY27 reaffirmed  https://www.cnbc.com/2026/05/20/were-raising-our-price-target-on-nvidia-after-another-knockout-quarter-and-guide-.html DeepSeek + Chinese price war is a Chinese export-controls story, not a US economic ceiling story https://www.cnbc.com/2026/05/21/anthropic-microsoft-maia-200-ai-chip.html   Bulls & Bears Micron (NASDAQ: MU) Crosses $1 TRILLION Market Cap for the First Time https://www.cnbc.com/2026/05/26/micron-stock-trillion-market-cap.html Dell Technologies Q1 FY27 ACTUALS  https://www.cnbc.com/2026/05/28/dell-q1-earnings-report-2027.html Marvell Technology Q1 FY27 ACTUALS https://investor.marvell.com/news-events/press-releases/detail/1023/marvell-technology-inc-reports-first-quarter-of-fiscal-year-2027-financial-results Salesforce CRM Q1 FY27 ACTUALS  https://investor.salesforce.com/financials/quarterly-results/ Synopsys SNPS Q2 FY26 ACTUALS https://investor.synopsys.com/events-and-presentations/events/event-details/2026/Q2-Fiscal-Year-2026-Earnings/default.aspx Snowflake SNOW Q1 FY27 ACTUALS  https://www.businesswire.com/news/home/20260527027931/en/Snowflake-Reports-Financial-Results-for-the-First-Quarter-of-Fiscal-2027 HP Inc. HPQ Q2 FY26 ACTUALS https://finance.yahoo.com/markets/stocks/articles/hp-q2-earnings-call-highlights-230459161.html Everpure (NYSE: P, formerly Pure Storage) Q1 FY27 ACTUALS  https://investor.salesforce.com/financials/quarterly-results/ Synopsys SNPS Q2 FY26 ACTUALS https://investor.synopsys.com/events-and-presentations/events/event-details/2026/Q2-Fiscal-Year-2026-Earnings/default.aspx Snowflake SNOW Q1 FY27 ACTUALS  https://www.businesswire.com/news/home/20260527027931/en/Snowflake-Reports-Financial-Results-for-the-First-Quarter-of-Fiscal-2027 HP Inc. HPQ Q2 FY26 ACTUALS  https://finance.yahoo.com/markets/stocks/articles/hp-q2-earnings-call-highlights-230459161.html Everpure (NYSE: P, formerly Pure Storage) Q1 FY27 ACTUALS https://www.prnewswire.com/news-releases/everpure-announces-first-quarter-fiscal-2027-financial-results-302783502.html

The global expansion is showing resilience to the energy shock as the pre-war cyclical lift we have anticipated is absorbing the loss of purchasing power. As we enter week 14 of the Strait remaining closed, should we feel better, worse, or have the same degree of caution? If the Strait opens, will the cycle accelerate or are there headwinds to still worry about for 2H26? And if not, what should this mean for central banks?   Speakers: Bruce Kasman Joseph Lupton   This podcast was recorded on 29 May 2026. This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures.  © 2026 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.

This week, our Global FX Strategists, Patrick Locke, Meera Chandan, Arindam Sandilya and Ladislav Jankovic look at the dollar's undershoot vs real rates, the accumulation of bearish forces challenging EUR, developments around KRW & CNH, and the outlook for FX vols currently trading near historical lows.  This podcast was recorded on 29 May 2026. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5315695-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2026 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.

We spent last week in China, and the most striking takeaway from our meetings was not simply that oil demand has fallen, it was that it did so abruptly, unexpectedly, and with remarkably little visible disruption. In this episode, we run you through our observations and explain the structural oil demand shifts that we may see in the coming years.     Speaker:  Natasha Kaneva, Head of Global Commodities Research   This podcast was recorded on May 29, 2026.   This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5317328-0, for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2026 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.

Nora Szentivanyi is joined by Raphael Brun-Aguerre and Michael Hanson to discuss takeaways from the latest CPI reports and signals for the path ahead. Surging energy prices pushed global headline inflation up further to 3.4%oya in April, bringing the gain since February to 1%-pt. The three-month annualized headline CPI rate jumped to 6.0%––its strongest pace since 2022––with energy prices alone adding 4%ar. Core inflation has remained sticky around 3% but we see growing risks of a break higher amid a mix of goods sector cost pressures, tightening labor markets, and firm pricing power. The signals on services inflation are mixed, with surveys suggesting a sharp loss in demand growth alongside a jump in prices.   This podcast was recorded on May 28, 2026. This communication is provided for information purposes only.  Institutional clients can view the related reports at https://www.jpmm.com/research/content/GPS-5313158-0  https://www.jpmm.com/research/content/GPS-5308513-0  https://www.jpmm.com/research/content/GPS-5309828-0  https://www.jpmm.com/research/content/GPS-5300334-0  for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2026 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.  

Anezka Christovova, Ben Ramsey and Nishant Poojary discuss the latest market developments and their impacts for the EM fixed income asset class. This podcast was recorded on 28th May 2026. © 2026 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.

Elaine Agather is the Dallas region chairman and global vice chair for JPMorgan Chase. On this week's episode of Intersections, she reflects on her decades-long career at Chase, lessons from working with Jamie Dimon and her rodeo appearances in Ft. Worth. Learn more about your ad choices. Visit podcastchoices.com/adchoices

In this episode of The Intelligent Developers Podcast, we sit down with Ed Poteat for a powerful conversation on entrepreneurship, affordable housing development, capital relationships, and navigating multiple real estate cycles in New York City.Ed shares his journey growing up in Harlem during the 1980s, studying economics at Yale University, spending time on Wall Street at JPMorgan Chase, and ultimately leaving corporate America at just 26 years old to pursue real estate entrepreneurship full-time.The conversation explores how New York City once empowered small local developers to revitalize distressed neighborhoods, how Ed and his team scaled into major affordable housing development projects, and the hard lessons learned during the Great Recession around leverage, capital structure, and profitability.This episode is a masterclass in resilience, affordable housing development, and building long-term success in one of the toughest real estate markets in the world.

Commodities are an investing sphere unto themselves, offering diversification, decorrelation from equities and bonds – and plenty of surprises along the way. In this episode of Making Sense, Eloise Goulder, head of the Data Assets and Alpha Group at J.P. Morgan, sits down with Kranthi Gade, head of Global Macro QIS Product Structuring, to hear how the quantitative strategies group builds and tracks systematic, tailored commodities trading for clients seeking alternative alpha. Tune in to hear the tactics and trends that comprise this fascinating approach to an equally fascinating asset class.   This episode was recorded on May 12, 2026.   The podcast's views do not necessarily reflect those of J.P. Morgan Chase & Co or its affiliates (together “J.P. Morgan) and are not from J.P. Morgan's Research Department. They do not constitute recommendations or offers to buy or sell securities. Intended for institutional and professional investors, not retail use, it is for informational purposes only. Products and services mentioned may not suit all investors or be available in all jurisdictions. J.P. Morgan may make markets and trade in discussed securities and asset classes. Visit www.jpmorgan.com/disclosures/salesandtradingdisclaimer for more disclaimers and regulatory disclosures. External speakers' opinions are personal and not J.P. Morgan's views. © 2026 JPMorgan Chase & Company. All rights reserved.

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After the data in recent weeks underscoring the cyclical uplift in the global economy since the start of the year, this week's DM flash PMIs and China data remind us that the Iran-related headwind is taking a toll and keeps downside risks alive. Absent this risk, inflation pressures are underappreciated and point to a potential central bank problem in the coming quarters.   Speakers: Bruce Kasman Joseph Lupton   This podcast was recorded on 22 May 2026. This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures.  © 2026 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.

We run through some of the broader considerations from the recent dollar bid including the JPY intervention outlook.   This podcast was recorded on 22 May 2026. This communication is provided for information purposes only. Please visit www.jpmm.com/research/disclosures for important disclosures. © 2026 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

Who is the real Kevin Warsh? Having been sworn in as the Fed's 17th chair, the Warsh era at the FOMC has begun. But with inflation proving sticky and Fed independence under the microscope, how will he balance the committee's dual mandate? What might he do differently than his predecessor, Jerome Powell? And how will he handle President Trump? On this episode of Making Sense, Alexa Hanelin talks to Michael Feroli, J.P. Morgan's chief U.S. Economist, to forecast the path of the Fed and examine what may be in store at the June FOMC meeting and beyond. This episode was recorded on May 22, 2026.  This communication is provided for information purposes only. Please visit www.jpmm.com/research/disclosures for important disclosures. JPMorgan Chase & Co. or its affiliates and/or subsidiaries (collectively, J.P. Morgan) normally make a market and trade as principal in securities, other financial products and other asset classes that may be discussed in this communication. This communication has been prepared based upon information from sources believed to be reliable, but J.P. Morgan does not warrant its completeness or accuracy except with respect to any disclosures relative to J.P. Morgan and/or its affiliates and an analyst's involvement with any company (or security, other financial product or other asset class) that may be the subject of this communication. Any opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice. Past performance is not indicative of future results. This communication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. J.P. Morgan Research does not provide individually tailored investment advice. Any opinions and recommendations herein do not take into account individual circumstances, objectives, or needs and are not intended as recommendations of particular securities, financial instruments or strategies. You must make your own independent decisions regarding any securities, financial instruments or strategies mentioned or related to the information herein. Periodic updates may be provided on companies, issuers or industries based on specific developments or announcements, market conditions or any other publicly available information. However, J.P. Morgan may be restricted from updating information contained in this communication for regulatory or other reasons. This communication may not be redistributed or retransmitted, in whole or in part, or in any form or manner, without the express written consent of J.P. Morgan. Any unauthorized use or disclosure is prohibited. Receipt and review of this information constitutes your agreement not to redistribute or retransmit the contents and information contained in this communication without first obtaining express permission from an authorized officer of J.P. Morgan. © 2026, JPMorganChase & Co. All rights reserved.

Global companies are already sitting on a $25 billion bill from the Iran war, and the meter keeps running as supply chains, energy costs, and shipping routes remain disrupted. We look at which industries are absorbing the biggest losses and what forward-looking investors need to watch in upcoming earnings reports.Today's Stocks & Topics: Coeur Mining, Inc. (CDE), Market Wrap, State of the U.S. Economy, War's $25 Billion Tab: How the Iran Conflict Is Hitting Corporate Earnings, JPMorgan Chase & Co. (JPM), Palantir Technologies Inc. (PLTR), POET Technologies Inc. (POET), Grab Holdings Limited (GRAB), Productivity.Our Sponsors:* Check out Anthropic and use my code Claude.ai/invest for a great deal: https://www.anthropic.com* Check out Plaud AI and use my code INVEST for a great deal: https://plaud.ai* Check out Quince: https://quince.com/invest* Check out Scribe and use my code scribe.how/invest for a great deal: https://scribe.comAdvertising Inquiries: https://redcircle.com/brands

CEO of JPMorgan Chase Jamie Dimon speaks exclusively with Bloomberg's Haslinda Amin from the sidelines of the JPMorgan "Global China Summit" in Shanghai. They discussed the rout in bond markets, the risk of heightened inflation, and why corporate earnings remain so high.See omnystudio.com/listener for privacy information.

SpaceX ha dado el paso definitivo hacia los mercados financieros. La compañía aeroespacial de Elon Musk ya ha comunicado oficialmente a la Comisión de Bolsa y Valores de Estados Unidos su intención de debutar en el Nasdaq bajo el símbolo SPCX durante el próximo mes de junio. Se trata de una de las operaciones bursátiles más esperadas de los últimos años y, si se cumplen las previsiones, la empresa podría alcanzar una valoración cercana a los 1,75 billones de dólares. Con esa cifra, la firma tecnológica se situaría entre las compañías con mayor capitalización del planeta. Además, la operación pretende captar alrededor de 80.000 millones de dólares, un volumen récord para una oferta pública inicial, superando ampliamente el estreno bursátil de Saudi Aramco en 2019. Para liderar esta histórica salida a Bolsa, SpaceX contará con Goldman Sachs como principal entidad coordinadora, aunque también participarán bancos de gran peso internacional como Morgan Stanley, Bank of America, Citigroup y JPMorgan Chase. Sin embargo, la documentación entregada a la SEC también ha revelado aspectos menos favorables sobre la situación financiera del grupo. Durante el primer trimestre del año, la compañía registró pérdidas de 4.200 millones de dólares pese a haber generado ingresos por 4.690 millones. Estas cifras reflejan el enorme coste operativo y de inversión que mantiene el conglomerado tecnológico en sus diferentes áreas de negocio. Dentro de la empresa, Starlink continúa siendo el principal motor económico. La división de internet satelital aportó el 69% de la facturación total, con ingresos de 3.260 millones de dólares y más de 10 millones de clientes activos en todo el mundo. Actualmente, es la única unidad rentable del grupo, ya que el negocio espacial acumuló pérdidas operativas de 619 millones de dólares y la división de inteligencia artificial perdió otros 2.500 millones durante el mismo periodo. En este contexto, adquiere especial relevancia el acuerdo estratégico con Anthropic, compañía dirigida por Dario Amodei, que deberá abonar 1.250 millones de dólares mensuales hasta 2029 para utilizar la capacidad informática del centro de datos Colossus 1. La documentación presentada también confirma el férreo control que Elon Musk conservará sobre la compañía tras su debut bursátil. El empresario mantendrá el 93% de las acciones con derecho a voto, lo que permitirá a SpaceX operar como una “empresa controlada” y evitar la obligación de incorporar consejeros independientes en su consejo de administración. Este movimiento llega en un momento de intensa actividad en los mercados, con numerosas tecnológicas preparando su salto bursátil. Entre ellas destaca OpenAI, rival directo de Musk en el ámbito de la inteligencia artificial, que según diversas informaciones planea salir a Bolsa en septiembre con el respaldo financiero de Goldman Sachs y Morgan Stanley, después de haber alcanzado una valoración de 122.000 millones de dólares en su última ronda de financiación apoyada por Amazon, Nvidia y SoftBank.

Anezka Christovova, Ben Ramsey and Michael Harrison discuss the latest market developments and their impacts for the EM fixed income asset class.   This podcast was recorded on 20 May 2026. This communication is provided for information purposes only. For more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2026 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.

Die größte US-Bank JP Morgan wagt sich mit der Onlinebank Chase erstmals auf den deutschen Privatkundenmarkt. Außerdem: Aurubis wandelt sich vom Krisenkonzern zum gefragten Übernahmekandidaten.

In honor of National Small Business Week and Economic Development Week 2026, David Ponraj sits down with Tarsha Hearns of Economic Growth Strategies for a candid, practical conversation about what it really means to put entrepreneurs at the center of economic development strategy.Tarsha brings over two decades of ecosystem-building experience in the Dallas-Fort Worth area and beyond, and she doesn't hold back from calling out copy-paste program design to naming the trust problem that quietly fractures ecosystems from the inside.In this episode, we cover:What entrepreneurship-led economic development actually means and how it differs from the traditional playbook of chasing big corporate relocations, including a look at programs and resources dedicated to entrepreneurship-led ED that Tarsha has tapped intoThe Dallas Collaborative for Capital Access and how a JP Morgan Chase-funded initiative brought together CDFIs, city officials, and ESOs to tackle a capital desert in South Dallas without launching yet another loan fundWhy speed of capital matters more than amount or cost and how EIC's Catalyzer platform is implementing automated underwriting to help CDFIs say yes fasterThe "copy-paste" trap and why importing a program that worked in another city without assessing your own ecosystem is a recipe for duplication, not impactThe trust problem nobody talks about—how broken referral loops, siloed data, and lack of follow-through erode confidence across the ecosystem, and what to do about itData collection done right—practical tips for capturing client outcomes at every touchpoint, including how to build incentives into your grant structureRapid-fire advice—what communities should start doing (quarterly convenings), stop doing (operating in silos), and the free C-Cube Toolkit to help get those ecosystem conversations startedResources mentioned:Economic Growth Strategies Ecosystem Assessment — start here to identify gaps in your ecosystem's infrastructure, data strategy, and capital access programsIEDC — the leading professional organization for economic developers, with programs and resources dedicated to entrepreneurship-led economic developmentC-Cube Toolkit — a free resource for starting ecosystem coordination conversationsCalifornia SCALE Network — statewide referral network model connecting SBDCs, CDFIs, chambers, and more

Harry Duran, founder of Fullcast and creator of Podisphere, joins Jeff Mains to explore what it really takes to build a sustainable podcast, grow a content brand, and stay ahead in a rapidly AI-shaped media world.Harry shares his journey from corporate marketing at JPMorgan Chase and E-Trade, to launching his first podcast Podcast Junkies in 2014, to building Fullcast — a podcast production and marketing consultancy that has helped over 130 business owners launch and grow shows. He also dives deep into his newest ventures: Podisphere (a G2-style SaaS directory for podcast tools) and Podclaw (an agent-first podcast hosting platform built for AI agents, not humans).The conversation covers the seismic shift happening in content creation right now — from vibe coding and Claude Code to autonomous AI agents that market products while you sleep. Harry and Jeff also discuss why long-form human conversations are becoming more valuable in an era flooded with AI-generated content, the power of niche podcasting, and why the most important skill for the next decade may simply be learning how to talk to robots.Key Takeaways0:00 — Intro: What it takes to build a podcast and a business around it in an AI-driven content landscape4:40 — Recap of previous guests: Justin Trombold on AI strategy and Rick Delisi on The Effortless Experience6:10 — Welcoming Harry Duran — how he helped launch SaaS Fuel and what Fullcast does9:50 — Harry's origin story: From JPMorgan Chase and Unilever to electronic music, DJing, and discovering podcasting at New Media Expo in 201413:30 — Meeting Pat Flynn and Amy Porterfield; pivoting from a DJ podcast to Podcast Junkies; recognizing podcasting as your own personal stage17:10 — How Harry's first paying client (a $1,000 PayPal from John Livesay) launched Fullcast in 201522:10 — Introducing Podisphere: A G2.com-style directory for podcast tools — the inspiration, the build journey, and why traffic is the only metric that matters to sponsors27:30 — Building with no-code tools (Airtable, Webflow, Bubble), the frustrations of non-technical founding, and how vibe coding changed everything in 202531:30 — Claude Code, Agent OS, and spec-driven development: how Harry built more in six months than in five years combined37:50 — SEO strategy for Podisphere: Fathom Analytics, Ahrefs, programmatic blog posts, Google Search Console, and hitting 7,000 page views/month without a press release45:20 — The power of founder relationships: How 12 years of Podcast Junkies led to meeting Andrew Mason (Descript), the SquadCast acquisition, and building a network that fuels Podisphere51:00 — Why every founder should have a podcast: relationship-building, opening doors, and earning "street cred"54:40 — Introducing Podclaw: An agent-first podcast hosting platform built for AI agents, not humans1:01:30 — Moltbook: The AI agent social network, digital wallets for agents, and autonomous marketing via cron jobs1:08:00 — The "agent economy" and why SaaS companies that block agents are "dead men walking"1:15:30 — Why the most important future skill is learning how to talk to robots; parallels to the dot-com era of 19991:21:30 — The future of podcasting: AI-generated shows, long-form authentic conversation, niche doubling down, and why human voices are becoming more valuable1:28:00 — NotebookLM and the rise of AI podcast hosts; the disclosure debate1:33:20 — Harry's personal operating system: morning meditation, written intentions, strength training, and protecting attention before screens1:37:30 — Where to find Harry: fullcast.co, thepodisphere.com, podclaw.ioTweetable Quotes"The most important skill in the future is learning how to talk to robots." — Harry Duran"You can't speak to someone for an hour and forget their face. That's the magic of podcasting — it builds relationships that nothing else can replicate." — Harry Duran"The people who made money in the gold rush were the ones who sold the picks, the shovels, and Levi's." — Harry Duran"Companies that block agents are dead men walking. If agents can't get the data from you, someone else will build what they need." — Jeff Mains"It never feels done — you just have to ship it. Get it out there." — Harry Duran"AI is like having the vision in your head and finally being able to build at the speed of thought." — Harry DuranSaaS Leadership Lessons1. Build Your Distribution Before You Need ItHarry spent over a decade building Podcast Junkies before it became the foundation of Podisphere. His relationships with founders like Andrew Mason (Descript) and the SquadCast team weren't accidental — they were built over 500+ interviews. Leaders who invest in platforms, relationships, and audiences compounding quietly are the ones who have leverage when they need it.2. Sell Picks and Shovels — Build for the EcosystemRather than fighting for space in a crowded software category, Harry positioned Podisphere as the infrastructure layer (the G2 of podcasting). Great SaaS leaders ask: What does this entire ecosystem need that nobody is building? Being a connector and aggregator often outlasts being just another point solution.3. Non-Technical Founders Must Learn to Build at the Speed of ThoughtHarry's journey from Airtable → Bubble → Fiverr developers → Claude Code is a roadmap for any non-technical founder in 2025. The bottleneck is no longer code — it's vision and prompting. The founder who can articulate their product clearly to an AI builds faster, iterates faster, and maintains greater ownership of the product direction.4. Traffic Is the Only Metric That Converts to Revenue — Build for Discovery FirstPodisphere hit 7,000 page views/month organically before a single press release by treating every page as an SEO asset. Harry obsessed over internal links, programmatic blog posts, and AEO (Answer Engine Optimization) for AI search. SaaS leaders building content or marketplace products should think like search engines think — not just build pretty interfaces.5. Agent-First Is the New Mobile-First — Design for It NowHarry didn't build Podclaw for human users. He built it for AI agents, complete with clean APIs, no unnecessary dashboards, and agent-friendly architecture. As agent economies emerge (complete with digital wallets and autonomous purchasing), SaaS products that block or ignore agents will be displaced. Build your API surface today like agents are your power users tomorrow.6. Protect Your Peak Performance Hours — Your Best Output Comes from Taking Care of Yourself FirstHarry meditates 20 minutes every morning, writes intentions in the present tense, and strength trains three days a week before opening a laptop. He's explicit: this is not a nice-to-have. The onslaught of screens, AI noise, and constant stimulation hijacks your nervous system. The leaders who perform at the highest level over the longest runway are the ones who treat personal maintenance as a non-negotiable operating system.Guest Resourceshttps://fullcast.co/hdbioEpisode SponsorThe Futureproof Series - https://www.youtube.com/playlist?list=PLfkXKUPZ5xuOqMPR7_gzGybncTtavyR1NThe Captain's KeysSmall Fish, Big Pond – https://smallfishbigpond.com/ Use the promo code ‘SaaSFuel'Champion Leadership Group – https://championleadership.com/SaaS Fuel ResourcesWebsite - https://championleadership.com/Jeff Mains on LinkedIn - https://www.linkedin.com/in/jeffkmains/Twitter - https://twitter.com/jeffkmainsFacebook - https://www.facebook.com/thesaasguy/Instagram - https://instagram.com/jeffkmains

Featured in this podcast are Arindam Sandilya and Mixo Das take stock of the North Asian equity surge, as Korea and Taiwan extend AI-led rallies amid improving monetization and shifting flows – assessing where the two markets may diverge and a readthrough to FX. This podcast was recorded on May 18, 2026. This communication is provided for information purposes only. Institutional clients can view the related report at https://jpmorganmarkets.com/research/content/GPS-5268762-0, https://jpmorganmarkets.com/research/content/GPS-5291814-0, https://jpmorganmarkets.com/research/content/GPS-5274426-0 and https://jpmorganmarkets.com/research/content/GPS-5243037-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2026 JPMorgan Chase & Co. All rights reserved.

Ik ben een fantastische spits, maar mijn team gaat wel verliezen. Dat is vrij vertaald wat de altijd amusante Michael O'Leary van Ryanair zegt over zijn vliegtuigmaatschappij en de concurrentie. Hij heeft het 'Armageddon'-scenario klaarliggen nu de oorlog in Iran alweer zijn derde maand af dreigt te sluiten. Zelf gaat hij niet kopje onder door die hoge brandstofprijzen (nee hoor), maar er gaan mogelijk wel een paar concurrenten sneuvelen... Iets koopwaardiger, althans volgens de financiële markten: groene energie. Wablief? Ja ja, de woorden 'winst' en 'windmolen' stonden de afgelopen jaren zelden in dezelfde zin. Toch is de index voor groene energie-aandelen met een opmars bezig. Bedrijven als Ørsted en Vestas hebben de wind weer in de rug vanwege de oorlog in Iran én de energieveelvraat die AI heet. Maar betekent dat ook dat deze bedrijven straks veranderen in echte GE Vernova's, of kan een windmolen zich niet meten met een gasturbine? We bespreken de ins & outs. Verder praten we je bij over een monsterdeal die de VS het grootste nutsbedrijf op aarde oplevert, over ASML dat India gaat helpen om een chipindustrie op te bouwen en natuurlijk de stakingen bij Samsung die de hele chipketen hoofdpijn dreigen te geven. Te gast: Justin Blekemolen, analist bij online broker Lynx BNR Beurs is een journalistiek onafhankelijke productie, mede mogelijk gemaakt door Saxo. Over de makers: Jelle Maasbach is presentator van BNR Beurs en freelance financieel journalist. Zijn favoriete aandeel om over te praten is Disney, maar daar lijkt hij de enige in te zijn. Sinds de eerste uitzending van BNR Beurs is 'ie er bij. Maxim van Mil is presentator van BNR Beurs en journalist bij BNR, waar hij zich focust op de financiële markten en ontwikkelingen in de tech-wereld. Je krijgt hem het meest enthousiast als hij kan praten over ASML, of oer-Hollandse bedrijven zoals Ahold of ABN Amro. Jorik Simonides is presentator van BNR Beurs, economieredacteur en verslaggever bij BNR. Hij wordt er vooral blij van als het een keer níet over AI gaat. Milou Brand is presentator van BNR Beurs, freelance podcastmaker en columnist bij het Financieele Dagblad. Jochem Visser is presentator van BNR Beurs, maakt Beursnerd XL en is redacteur bij de podcast Onder Curatoren. Vraag hem naar obscure zaken op financiële markten en hij vertelt je waarom het eigenlijk nóg leuker is dan je al dacht. Over de podcast: Met BNR Beurs ga je altijd voorbereid de nieuwe beursdag in. We praten je in een kleine 25 minuten bij over alle laatste ontwikkelingen op de handelsvloer. We blijven niet alleen bij de AEX of Wall Street, maar vertellen je ook waar nog meer kansen liggen. En we houden het niet bij de cijfers, maar zoeken ook iedere dag voor je naar duiding van scherpe gasten en experts. Of je nu een ervaren belegger bent of net begint met je eerste stappen op de beurs, de podcast biedt waardevolle inzichten voor je beleggingsstrategie. Door de focus op zowel de korte termijn als de lange termijn, helpt BNR Beurs luisteraars om de ruis van de markt te scheiden van de essentie. Van Musk tot Microsoft en van Ahold tot ASML. Wij vertellen je wat beleggers bezighoudt, wie de markten in beweging zet en wat dat betekent voor jouw beleggingsportefeuille.See omnystudio.com/listener for privacy information.

The legal battle between Jes Staley and JPMorgan Chase erupted after lawsuits accused the bank of enabling Jeffrey Epstein's sex-trafficking operation for years while he remained a wealthy client. Staley, who had been one of JPMorgan's top executives and Epstein's main private banking contact, quickly became central to the litigation because of his close personal relationship with Epstein. The U.S. Virgin Islands and Epstein accusers alleged that JPMorgan ignored repeated warning signs about Epstein's conduct because he brought the bank wealthy clients and influence, and they argued Staley played a key role in protecting the relationship. Court filings and internal emails revealed Staley exchanged hundreds of messages with Epstein, visited his properties, and allegedly pushed internally to keep Epstein as a client despite compliance concerns and growing fears tied to human trafficking allegations. JPMorgan responded by attempting to shift much of the blame onto Staley personally, filing claims against him seeking accountability for any damages the bank suffered from the lawsuits.The fight became increasingly bitter as both sides tried to avoid taking sole responsibility for the scandal. JPMorgan argued Staley concealed the true nature of his relationship with Epstein and acted outside the bank's knowledge, while Staley's lawyers countered that the bank itself had extensive awareness of Epstein's activities and continued banking him anyway because of the profits and elite connections involved. The litigation exposed embarrassing internal communications, including emails provided by JPMorgan that later became central to UK regulators' investigations into Staley's conduct. In 2023, JPMorgan ultimately reached settlements with both the U.S. Virgin Islands and Epstein victims while also resolving its claims against Staley, effectively ending the direct courtroom war between them. Even after the settlements, however, the fallout continued to haunt both sides, as the disclosed emails and testimony fueled regulatory cases, shareholder lawsuits, and public scrutiny over how deeply Epstein had embedded himself within major financial institutions and how aggressively senior executives like Staley fought to preserve those relationships.to contact me:bobbycapucci@protonmail.com

The mock indictment lays out a sweeping DOJ-style RICO case alleging that Jeffrey Epstein did not operate as an isolated sex offender, but as the leader of a highly organized criminal enterprise that functioned for decades through a network of recruiters, assistants, financial managers, lawyers, accountants, offshore entities, and institutional relationships. The document alleges that the Enterprise engaged in sex trafficking, interstate transportation of minors, forced labor trafficking, money laundering, wire fraud, bank fraud, immigration fraud, obstruction of justice, witness tampering, tax conspiracy, and related racketeering offenses. It frames figures such as Ghislaine Maxwell, Sarah Kellen Vickers, Lesley Groff, Nadia Marcinkova, Adriana Ross, Jean-Luc Brunel, Darren Indyke, and Richard Kahn as alleged operational participants who helped sustain different layers of the Enterprise, from recruitment and transportation to financial concealment and organizational continuity.The document further alleges that the Enterprise relied heavily on sophisticated financial infrastructure and elite institutional relationships to preserve legitimacy and avoid collapse even after Epstein's 2008 conviction. It describes alleged use of offshore trusts, shell corporations, charitable foundations, private aviation, layered ownership structures, and complex banking relationships to conceal assets and operational activity. The indictment also examines the alleged importance of relationships with figures such as Leslie Wexner and Leon Black, along with banking institutions including JPMorgan Chase & Co. and Deutsche Bank AG, arguing that prosecutors could theoretically portray these relationships as part of a broader enterprise infrastructure that enabled Epstein's operations to survive repeated scrutiny. The mock indictment ultimately frames the Enterprise as resembling a transnational organized crime network whose power derived not only from trafficking activity itself, but from its alleged ability to combine wealth, prestige, financial sophistication, institutional access, and compartmentalized operational structures into a durable racketeering organization.to contact me:bobbycapucci@protonmail.comBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support.

In this podcast Francis Diamond and Aditya Chordia discuss Euro area and UK rate markets given the moves in oil prices and this week's political events in the UK.   This podcast was recorded on 15 May 2026. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5298094-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2026 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.

Meera Chandan, Patrick Locke and Antonin Delair discuss why the top-down view is becoming more supportive of the dollar, new forecast profile for EUR/USD, systematic signal take-aways for FX and GBP follow-through from political developments.    This podcast was recorded on 15 May 2026. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5304806-0 and https://www.jpmm.com/research/content/GPS-5304339-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2026 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.

In this podcast Khagendra Gupta and Ipek Ozil discuss the drivers of US and Eurex futures roll and their outlook for Jun26/Sep26 bond futures rollover. They also discuss their outlook for the cross currency bases through the remainder of the year.   Speakers Ipek Ozil, Head, U.S. Interest Rate Derivatives Strategy Khagendra Gupta, Head, European Interest Rate Derivatives Strategy   This podcast was recorded on May 15, 2026. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5291182-0, https://www.jpmm.com/research/content/GPS-5298292-0, https://www.jpmm.com/research/content/GPS-5290684-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2026 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.

Record-breaking volumes of activist campaigns—both public and private—are transforming the investing landscape, as activists leverage newfound voting powers and privileges across markets. In this episode of J.P. Morgan's “Making Sense,” Chuka Umunna, global head of Corporate Governance and Sustainable Solutions, is joined by Darren Novak, global head of Shareholder Engagement and M&A Capital Markets, and Lyndon Park from the U.S. M&A Capital Markets team, to discuss the seismic shifts in shareholder activism.   Their conversation explores how diverse market participants are adapting to the rapidly evolving activism environment, including behind-the-scenes battles in Europe, governance reforms in Japan, and other notable examples from around the world.    Tune in for expert insights on how companies and boards can anticipate, respond to, and thrive amid the “new era of shareholder activism.”   This episode was recorded on May 6, 2026.   This material was prepared by certain personnel of the investment banking group of JPMorgan Chase & Co. and its affiliates and subsidiaries worldwide and not the firm's research department. It is for informational purposes only, is not intended as an offer or solicitation for the purchase, sale or tender of any financial instrument and does not constitute a commitment, undertaking, offer or solicitation by any JPMorgan Chase entity to extend or arrange credit or provide any other products or services to any person or entity.  © 2026 JPMorgan Chase & Company. All rights reserved.

The legal battle between Jes Staley and JPMorgan Chase erupted after lawsuits accused the bank of enabling Jeffrey Epstein's sex-trafficking operation for years while he remained a wealthy client. Staley, who had been one of JPMorgan's top executives and Epstein's main private banking contact, quickly became central to the litigation because of his close personal relationship with Epstein. The U.S. Virgin Islands and Epstein accusers alleged that JPMorgan ignored repeated warning signs about Epstein's conduct because he brought the bank wealthy clients and influence, and they argued Staley played a key role in protecting the relationship. Court filings and internal emails revealed Staley exchanged hundreds of messages with Epstein, visited his properties, and allegedly pushed internally to keep Epstein as a client despite compliance concerns and growing fears tied to human trafficking allegations. JPMorgan responded by attempting to shift much of the blame onto Staley personally, filing claims against him seeking accountability for any damages the bank suffered from the lawsuits.The fight became increasingly bitter as both sides tried to avoid taking sole responsibility for the scandal. JPMorgan argued Staley concealed the true nature of his relationship with Epstein and acted outside the bank's knowledge, while Staley's lawyers countered that the bank itself had extensive awareness of Epstein's activities and continued banking him anyway because of the profits and elite connections involved. The litigation exposed embarrassing internal communications, including emails provided by JPMorgan that later became central to UK regulators' investigations into Staley's conduct. In 2023, JPMorgan ultimately reached settlements with both the U.S. Virgin Islands and Epstein victims while also resolving its claims against Staley, effectively ending the direct courtroom war between them. Even after the settlements, however, the fallout continued to haunt both sides, as the disclosed emails and testimony fueled regulatory cases, shareholder lawsuits, and public scrutiny over how deeply Epstein had embedded himself within major financial institutions and how aggressively senior executives like Staley fought to preserve those relationships.to contact me:bobbycapucci@protonmail.comBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support.

Inflation is playing a dual role at present. First, as a driver of spending that is boosting the cost of living via higher energy prices. Second, as a reflection of the momentum in the underlying cycle. Central banks are taking note of both, but it's the latter that will have staying power and is thus fueling their hawkish shift.   Speakers: Bruce Kasman Joseph Lupton   This podcast was recorded on 14 May 2026. This communication is provided for information purposes only. Institutional clients please visit www.jpmm.com/research/disclosures for important disclosures.  © 2026 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.

In this episode, we explore frontier AI's role in the cybersecurity landscape with our Industry and Policy thematics analysts in Global Research. We discuss the evolving relationship between frontier AI models and cyber ecosystem, patchability in the space, global supply constraints, and what fighting AI with AI means in today's world.   Speakers:  Jahangir Aziz, Co-Head of Economic Research Steven Palacio, Industry & Policy Thematics Analyst Samantha Azzarello, Head of Content Strategy   This podcast was recorded on May 8, 2026.   This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5280654-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2026 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.

Anezka Christovova, Ben Ramsey and Michael Harrison discuss the latest market developments and their impacts for the EM fixed income asset class. This podcast was recorded on 14 May 2026. © 2026 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.

The financial sector didn't just enable Jeffrey Epstein—they fortified him. For decades, elite institutions like JPMorgan Chase continued to do business with Epstein long after his 2008 conviction for soliciting a minor, ignoring internal warnings, compliance red flags, and credible allegations of abuse. High-ranking executives maintained close relationships, funneled vast sums through opaque accounts, and even joked about his grotesque proclivities in internal emails. Bankers helped him move millions across borders, granted him access to ultra-wealthy clients, and never asked the kind of questions they would demand from an average customer depositing a suspicious $10,000. These weren't oversights—they were decisions. Deliberate, profitable, and saturated with moral rot.At every turn, the financial institutions chose profit over principle. They ignored the trail of victims, the mountain of press coverage, and the glaring signs of criminality, all in exchange for Epstein's connections and capital. Even as civil suits piled up and survivors came forward, these firms were more concerned with protecting their reputations than cutting ties with a known predator. The result wasn't just a financial scandal—it was systemic complicity. The banks didn't just launder his money. They laundered his legitimacy, allowing him to continue operating as a global financier, when in truth he was running an empire built on exploitation and secrecy.to contact me:bobbycapucci@protonmail.com

The financial sector didn't just enable Jeffrey Epstein—they fortified him. For decades, elite institutions like JPMorgan Chase continued to do business with Epstein long after his 2008 conviction for soliciting a minor, ignoring internal warnings, compliance red flags, and credible allegations of abuse. High-ranking executives maintained close relationships, funneled vast sums through opaque accounts, and even joked about his grotesque proclivities in internal emails. Bankers helped him move millions across borders, granted him access to ultra-wealthy clients, and never asked the kind of questions they would demand from an average customer depositing a suspicious $10,000. These weren't oversights—they were decisions. Deliberate, profitable, and saturated with moral rot.At every turn, the financial institutions chose profit over principle. They ignored the trail of victims, the mountain of press coverage, and the glaring signs of criminality, all in exchange for Epstein's connections and capital. Even as civil suits piled up and survivors came forward, these firms were more concerned with protecting their reputations than cutting ties with a known predator. The result wasn't just a financial scandal—it was systemic complicity. The banks didn't just launder his money. They laundered his legitimacy, allowing him to continue operating as a global financier, when in truth he was running an empire built on exploitation and secrecy.to contact me:bobbycapucci@protonmail.com

On this episode of the SeventySix Capital Sports Leadership Show, Wayne Kimmel interviewed Paris Dupree, Vice President, Senior Counsel in Business and Legal Affairs at OneTeam Partners.Prior to joining OneTeam, Dupree served as Vice President and Assistant General Counsel at JPMorgan Chase, where she led and negotiated major sponsorships and partnerships across  the company's Sports, Entertainment, Media, and Brand businesses—including the firm's partnerships with Madison Square Garden, the US Open, and the Chase Center, as well as global events such as the JPMorgan Corporate Challenge, the world's largest corporate running event. Her early career was shaped at leading law firms, including Morgan, Lewis & Bockius LLP, Pepper Hamilton LLP (now Troutman Pepper LLP), and Cooley LLP, where she gained significant experience in venture capital, mergers and acquisitions, and advising private equity funds and growth-stage companies across technology, life sciences, and digital media sectors. A proud graduate of Brown University, Dupree earned her degree in Organizational Studies: Commerce, Organizations, and Entrepreneurship. While at Brown, she was captain of the Women's Lacrosse Team, earning First-Team All-Ivy and Academic All-Ivy honors, and also competed in basketball as a dual-sport athlete her freshman year. In 2010, she was selected to the U.S. National Women's Lacrosse Team—the first Brown player in more than a decade to earn that honor. She was recently inducted into Brown University's Athletic Hall of Fame, recognizing her enduring contributions to the university's athletic legacy. Dupree later earned her J.D. from The George Washington University Law School. Dupree's leadership and impact extend beyond her professional role. She was recognized as the 2024 Young Woman Professional Award recipient by the New Castle County Chamber of Commerce, honoring her professional excellence and community contributions. She currently serves on Brown University's President's Advisory Council on Athletics & Recreation, focusing on long-term strategic planning, and as a member of the Board of Trustees at Sanford School, an independent, college preparatory school in Hockessin, Delaware, where she plays an active role in advancing the school's mission, shaping strategy, and strengthening community engagement. Dupree resides in Wilmington, Delaware, with her husband, Vern, and their 5-year-old son, Cairo. Family is central to who she is, and she can often be found cheering on her husband and father's Delaware State Hornets basketball team or supporting Cairo's activities. Paris Dupree:LinkedIn: https://www.linkedin.com/in/parisdupree/Chapters02:07 Understanding One Team Partners' Role in Sports Licensing03:58 Commercial Partnerships and Their Impact on Athletes08:07 Structuring Fair Deals for Players and Brands09:59 Collaboration with Player Associations12:06 The Fun and Meaningful Aspects of Paris's Job14:11 Paris's Athletic Background and Its Influence18:03 The Similarities Between Sports and Business22:04 Mentorship and Leadership in Paris's Career30:17 The Future of Sports and Player Opportunities

In this episode, we unpack how the war in the Middle East has been shaping the economic outlook for Azerbaijan, and why — perhaps surprisingly — it has generated some positive spillovers for Armenia too. We explore how Armenia continues to outperform growth expectations, while its external sector undergoes a structural shift toward IT and financial services that most investors are still overlooking. We then turn to the June 2026 parliamentary elections and why their outcome is directly tied to the pace of the Armenia-Azerbaijan peace process and the prospect of opening the Turkish border for the first time since 1993. After more than three decades of conflict, a new chapter may finally be within reach in the South Caucasus.   Speakers Khamza Sharifzoda, EM, Economic and Policy Research Fatih Akcelik, EM, Economic and Policy Research Moderator: Nicolaie Alexandru-Chidesciuc, EM, Economic and Policy Research   This podcast was recorded on 13 May 2026. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5250547-0, https://www.jpmm.com/research/content/GPS-5207471-0, https://www.jpmm.com/research/content/GPS-5165451-0, for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2026 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.

Comment on the Show by Sending Mark a Text Message.What happens when a top-performing employee finds themselves trapped in a hostile work environment rife with sexual harassment and systemic discrimination? Join Mark Carey in this eye-opening episode of the Employee Survival Guide® as he unpacks the shocking legal complaint filed against JPMorgan Chase & Co. by former investment banker Chirayu Rana. This gripping discussion reveals the severe allegations of sexual assault, racial discrimination, and retaliation that Rana faced at the hands of his supervisor, Lorna Hajdini, who exploited her power to manipulate and control him. Through Rana's harrowing story, we explore the toxic workplace culture that not only tolerated such abhorrent behavior but also thrived on it. The episode lays bare the psychological and professional ramifications of sexual harassment, emphasizing the alarming power dynamics that exist in corporate environments. Are employees truly protected from discrimination, or is the illusion of meritocracy just a façade? We dive into the troubling role of human resources, often seen as the first line of defense, which can sometimes prioritize institutional reputation over employee rights. This episode is a clarion call for anyone navigating the complexities of employment law, workplace discrimination, and the often murky waters of corporate culture. It serves as a stark reminder of the vulnerabilities employees face, even those who appear to be at the pinnacle of their careers. With insights into severance negotiation, retaliation claims, and the intricacies of employment contracts, Mark and his guest provide invaluable tips for empowering employees and advocating for their rights. Whether you're dealing with workplace harassment, discrimination, or simply seeking to improve your understanding of employee rights, this episode offers the essential tools to survive and thrive in the corporate jungle. Tune in for an unfiltered look at the challenges of working in a system that often fails to protect its most valuable asset: its people. Don't miss this opportunity to gain insider knowledge on navigating employment law issues and ensuring your voice is heard in the fight against sexual harassment and discrimination in the workplace. Join us for an enlightening conversation that champions employee empowerment and advocates for a healthier workplace culture. It's time to silence the stigma surrounding sexual harassment and discrimination and to stand up for your rights in the workplace. Listen now and take the first step toward reclaiming your career and your dignity!  If you enjoyed this episode of the Employee Survival Guide please like us on Facebook, X and LinkedIn.  We would really appreciate if you could leave a review of this podcast on your favorite podcast player such as Apple Podcasts and Spotify. Leaving a review will help other employees find the Employee Survival Guide.  For more information, please contact our employment attorneys at Carey & Associates, P.C. at 203-255-4150, www.capclaw.com.Disclaimer:  For educational use only, not intended to be legal advice. 

JPMorgan Chase Chair and CEO Jamie Dimon says there is "too much" exuberance in the markets. Speaking with Bloomberg's Francine Lacqua from the JP Morgan Global Markets Conference in Paris, France, Dimon also commented on the use of artificial intelligence, cybersecurity, and banking regulation.See omnystudio.com/listener for privacy information.

In this episode, Dominic Drew from the Trade and Working Capital team is joined by Natasha Condon, global head of Sales for Trade and Working Capital, and Kyle Hutzler from the JPMorganChase Center for Geopolitics to discuss the fundamental repricing of supply chains. The discussion delves into how geopolitics, tariffs, and overlapping disruptions are prompting companies to carry higher inventory levels, build liquidity buffers, and reassess the allocation of resilience costs across complex ecosystems. The conversation highlights why these changes are structural rather than cyclical, identifies emerging pressure points, and examines how capital allocation and financing strategies are adapting to support more resilient supply chains   This episode was recorded on April 20, 2026.   ©2026 JPMorgan Chase & Co. All rights reserved. JPMorgan Chase Bank, N.A. Member FDIC. Deposits held in non-U.S. branches are not FDIC insured. Non-deposit products are not FDIC insured. The statements herein are confidential and proprietary and not intended to be legally binding. Visit jpmorgan.com/payments disclosure for further disclosures and disclaimers related to this content. This video-podcast/guide is confidential and proprietary to J.P. Morgan and is provided for your general information only. It is subject to change without notice and is not intended to be legally binding. Any services described in this video-podcast/guide are subject to applicable laws and regulations and service terms. Not all products and services are available in all locations. Eligibility for particular products and services will be determined by JPMorgan Chase Bank, N.A. or its affiliates. J.P. Morgan makes no representations as to the legal, regulatory, tax or accounting implications of the matters referred to herein. Any mentions of third-party trademarks, brand names, products and services are for referential purposes only and any mention thereof is not meant to imply any sponsorship, endorsement, or affiliation. J.P. Morgan and J.P. Morgan Payments are marketing names for certain businesses of JPMorgan Chase & Co. and its affiliates and subsidiaries worldwide JPMorgan Chase Bank, N.A., organized under the laws of U.S.A. with limited liability. The views and opinions expressed herein are those of the author or speakers and do not necessarily reflect the views of J.P. Morgan, its affiliates, or its employees. The information set forth herein has been obtained or derived from sources believed to be reliable. Neither the author or speakers nor J.P. Morgan makes any representations or warranties as to the information's accuracy or completeness. The information contained herein has been provided solely for informational purposes and does not constitute an offer, solicitation, advice or recommendation, to make any investment decisions or purchase any financial instruments and may not be construed as such.   --------   J.P. Morgan and third parties listed on this page have not entered into a legal partnership to provide the services described above. Third party trademarks, brand names, and descriptions of products and services that appear on this page are provided by the respective third party. J.P. Morgan is not liable or responsible for such trademarks, brand names, descriptions of products, companies and or services. J.P. Morgan may generate profit from the use of any services or products provided by the third parties. Nothing in this material shall be taken as an endorsement of any third party or advice on the suitability of the third party's services for the client. You shall make an independent determination for selection of the services provided by the third parties. Neither J.P. Morgan, nor its affiliates, shall be liable to you for any loss or liability suffered by you from the use of the third party's services. Any Future capabilities of mobility payment systems are under development; features and timelines are subject to change at the Bank's sole discretion.

The process of rally and march and rally and march could be transformed by a complete surprise, by subversive humor… The Church of Stop Shopping preached and sang for a 24 hours on Earth Day, midnight to midnight facing the grand doorway of the top fossil fuel investor, JPMorgan Chase. The big oil bankers seeing us in their windows may have found us frivolous, or annoying or even unnerving…. We think it may stick in their heads.  Our activist friends joined us in running around and around the monster building dressed like old-style bankers, tophats and vests and pin stripes

Ryan Burke, VP of Worldwide Sales at Crogl, joins Sam Jacobs, AJ Bruno, and Asad Zaman on the new economics of enterprise cyber risk. Topics include Anthropic's Mythos model, AI for the security operations center, why vibe-coded apps are far more likely to have security issues, why Claude Design tanked Figma's stock, and what the Elon Musk versus OpenAI lawsuit signals for AI governance. Key takeaways: AI has crashed the cost of running sophisticated attacks, putting nation-state-grade tooling in the hands of low-skill operators. As Ryan Burke, VP of Worldwide Sales at Crogl, put it on Anthropic's Mythos model: "Mythos has lowered the cost to like the dollar menu equivalent of...running an attack...so more people can do it." Enterprises are staring down a multi-year patching backlog that runs from now until the end of time. Non-technical teams in finance, ops, and HR are shipping internal tools using Replit and Claude, and almost none of them are securing what they build. Ryan Burke flagged the research: "vibe-coded software is almost 3 times as likely to have security issues." When the employee who built the agent quits, the agent stays behind with no owner, no documentation, and quiet access to systems it never should have had in the first place. For founders eyeing an exit, security has joined revenue, IP, and hitting your numbers as a non-negotiable diligence pillar. As Ryan Burke explained: "lack of security can kill an acquisition...a fourth pillar now is you're secure." Acquirers like JPMorgan Chase will not buy a fintech startup that turns into a vector for attackers to walk straight into their environment. The market case for NRR-fortress legacy SaaS may be weaker than the last decade made it look. As Asad Zaman, CEO of Sales Talent Agency, argued: "there was a generation of software companies that had signs that they had really good customer relationships...but their customers felt more like prisoners." If AI makes switching cheap and a new generation of software actually delights users, the moats around system-of-record incumbents start to compress fast. Connect with the hosts and guest:  Host: Sam Jacobs, CEO at Pavilion - https://www.linkedin.com/in/samfjacobs/  Host: AJ Bruno, CEO at QuotaPath - https://www.linkedin.com/in/ajbruno3/  Host: Asad Zaman, CEO at Sales Talent Agency - https://www.linkedin.com/in/azaman1/  Guest: Ryan Burke, VP Worldwide Sales at Crogl - https://www.linkedin.com/in/ryan-burke-bos/ Topline is more than a YouTube Channel:  Subscribe to Topline Newsletter: https://toplinemedia.substack.com/  Tune into Topline Podcast, the #1 podcast for founders, operators, and investors in B2B tech: https://www.joinpavilion.com/topline-podcast  Join the free Topline Slack channel to connect with 600+ revenue leaders to keep the conversation going beyond the podcast: https://www.joinpavilion.com/topline-slack Chapters:  00:00 Introducing Ryan Burke 03:14 Anthropic Mythos and Cyber Risk 04:20 How Attackers Use AI at Scale  07:00 Dollar Menu Attacks Explained  10:41 AI for the Security Ops Center  14:53 Why Claude Tanks Figma's Stock  18:30 Sam's Advice on Falling Stocks  20:50 Are Legacy SaaS Companies Back?  24:04 The Vibe-Coding Risk Surface  27:56 Quiz Pro: Cybersecurity Edition  33:46 Replit Apps Inside Enterprises  40:18 Security as the M&A Fourth Pillar  44:17 Personal Data and Digital Legacy  47:24 Bulls vs Bears: Elon vs OpenAI  52:03 Will ServiceNow Hit $32B?

Jed Rakoff played an important role in litigation connected to Jeffrey Epstein through his oversight of several high-profile civil cases tied to Epstein's financial network and institutional enablers. Serving in the Southern District of New York, Rakoff became heavily involved in lawsuits targeting major banking institutions accused of facilitating or ignoring Epstein's activities for years. His courtroom handled major legal battles involving claims against banks like JPMorgan Chase and Deutsche Bank, with plaintiffs arguing that powerful financial institutions helped sustain Epstein's operations by continuing to provide him services despite numerous warning signs and internal concerns. Rakoff became known for closely scrutinizing the legal sufficiency of claims brought by both accusers and defendants, frequently pressing lawyers on the factual basis of their arguments and the scope of institutional responsibility.Rakoff's rulings and courtroom commentary helped shape how far plaintiffs could push theories of liability against Epstein's alleged enablers. In several instances, he allowed portions of lawsuits to move forward while dismissing or narrowing claims he believed were too speculative or conclusory. His handling of the cases reflected the broader legal challenge surrounding Epstein-related litigation: determining where social association ended and actionable institutional misconduct began. While Rakoff was not directly involved in the criminal prosecution of Ghislaine Maxwell, his courtroom became one of the major arenas where the financial and institutional dimensions of the Epstein network were publicly dissected. The proceedings under Rakoff added significant pressure on banks and corporate entities to explain how Epstein maintained access to elite financial systems long after his 2008 conviction.to contact me:bobbycapucci@protonmail.comBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support.

JPMorgan Chase's long relationship with Jeffrey Epstein is a masterclass in corporate hypocrisy. While everyday customers face freezes, fees, and scrutiny for minor transactions, the bank happily processed more than a billion dollars for a convicted sex offender over fifteen years. Compliance officers raised alarms, but their warnings were treated as noise while executives chased profits. Instead of dropping Epstein after his 2008 conviction, JPMorgan rolled out the red carpet, proving that “risk management” really meant protecting revenue streams, not society.When the scandal finally broke, the bank acted stunned, as though Epstein's activities had somehow been invisible all along. In reality, they legitimized him, empowered him, and profited off him until his reputation became too toxic to touch. Their eventual response—a few hundred million in settlements and hollow statements about taking compliance “seriously”—was pure damage control. At its core, JPMorgan wasn't just a banker; it was an enabler, dressing complicity up as business as usual and proving once again that in the world of finance, crime isn't a disqualifier—it's an opportunity.to contact me:bobbycapucci@protonmail.comBecome a supporter of this podcast: https://www.spreaker.com/podcast/the-epstein-chronicles--5003294/support.

While markets await Iran's response to a US proposal to end the war and reopen the Strait, oil inventories are being activated at unprecedented rates and provide a much-needed cushion for prices and consumption.  Aside from oil, however, inventories play a crucial role for nearly all commodities. In this episode, we focus on the role of storage in gas and metals, putting it in the context of recent disruptions.   Speakers:  Otar Dgebuadze, European Natural Gas Greg Shearer, Head of Base and Precious Metals Strategy   This podcast was recorded on May 8, 2026.   This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5290388-0, https://www.jpmm.com/research/content/GPS-5287764-0, and https://www.jpmm.com/research/content/GPS-5290409-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2026 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.

Brim, Kim and Mr. Greer are back at it again. Apart from all the usual shenanigans, the gang chats about everything in pop culture with all the trimmings as they discuss the abrupt closing of Spirit Airlines, how Wren closed in the same manner, and Frontier doing monthly unlimited deals. They discuss how a plane landed on a delivery vehicle, crazy influencer issues, and how another influencer paid $17k to have ribs taken out. The crew also chats about the director of the Fifth Element, Russell Brand's 16 year old situation, and Hantavirus outbreak on a cruise ship. The cast talks about Area 51 explosions, possible aliens, and a guy gets arrested breaking into a Barnes & Noble to finish reading a book (this was actually a fake story, but fun anyway). They talk about Will Smith taking it to Jada Smith after separation, JP Morgan Chase hot boss situation, and Fabio and the great goose story. The crew also discusses the Superman ride at Six Flags getting stuck at top, $80k Chik-fil-et theft, and Wal-Mart getting rid of self-check-out, and home gas explosion sends NYPD officers flying. The crew chats about entertainment news, opinions and other cool stuff and things. Enjoy.Wherever you listen to podcasts & www.thegrindhouseradio.comhttps://linktr.ee/thegrindhouseradio

Ryan Bailey spent 20 years at Bank of America, JPMorgan Chase, TD Bank, Fifth Third, and USAA. Then he took over Cambridge Savings Bank, a 190-year-old, $7 billion mutual community bank in Massachusetts. In this Executive Leadership Series episode of Banking Transformed, recorded live at the Financial Brand Forum, Jim Marous and Ryan get into how community banks actually win against the giants. They cover the strategy behind Ivy Bank, Cambridge Savings' national digital deposit brand, and why Ryan believes half of the smaller banks in the country won't be here in 10 years. They also dig into closing the analytics gap with a JPMorgan Chase, using AI to improve customer experience instead of just cutting cost, bringing legacy employees along on a fast digital agenda, and what USAA taught Ryan about loyalty. Ryan closes with one Monday morning move every community bank CEO can act on right away. In this episode: • Why scale no longer guarantees dominance • Gathering deposits nationally, lending locally with Ivy Bank • Ryan's prediction on community bank consolidation • Closing the data gap without an enterprise budget • The Monday morning move every CEO should make #BankingTransformed #CommunityBanking #DigitalTransformation #Fintech #BankingPodcast #FinancialBrandForum #IvyBank #CambridgeSavingsBank

Keith explores how real estate investors can use mortgage strategies to build long-term wealth.  Seasoned lending expert and repeat guest Caeli Ridge joins Keith to discuss why debt isn't something to avoid but to optimize, and how negotiating terms can matter more than price. They walk through practical approaches for new and experienced investors, from house hacking to scaling a rental portfolio. The conversation also tackles common myths about qualifying for investment property loans and what really matters to lenders.  Finally, they emphasize focusing on fundamentals—cash flow, risk management, and informed decision-making—rather than fixating on interest rate headlines. Episode Page: GetRichEducation.com/604 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  For predictable 10-12% quarterly returns, visit FreedomFamilyInvestments.com/GRE or text  FAMILY to 66866  Unlock truly passive real estate income—visit flockhomes.com/GRE today to see if your properties qualify for a 721 exchange with Flock Homes. Will you please leave a review for the show? I'd be grateful. Search "how to leave an Apple Podcasts review"  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— GREletter.com  Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Keith Weinhold  0:01   Welcome to GRE I'm your host. Keith Weinhold Some mortgage guidance out there is costing you wealth today. I'm talking about how you can negotiate to get better terms. I'll tell you the exact questions to ask. Then a guest clears up mortgage myths and misconceptions and how you can borrow to win today on get rich education   Keith Weinhold  0:28   let me ask you something, if you've worked hard to build wealth, is your money positioned to actually support your goals? A lot of accredited investors leave capital sitting in cash because it feels safe, but inflation and missed income opportunities can quietly erode its value. Freedom family investments offers freedom notes for investors seeking structured income backed by real estate. It's a straightforward approach built on real assets, not speculation and full disclosure. I'm an investor myself. What I like is that their team walks you through how it all works so you can decide if it aligns with your portfolio and income goals. Every investment carries risk and nothing is guaranteed, but with a track record of consistent on time investor payouts, they built real credibility. Go to freedomfamilyinvestments.com to book a clarity call or text family to 66 866, that's family to 6866   Speaker 1  1:32   you're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  1:48   Welcome to GRE from Albany, New York to Albany, Oregon and across 188 nations worldwide. You're listening to get rich Education. I'm your host. Keith Weinhold, as we know, debt isn't something to avoid. It's something to optimize. As a real estate investor, I would rather have lower mortgage rates than higher ones, and now you can call me Captain Obvious. Yet there are some reasons that higher mortgage rates benefit us as investors, though they're not as great as the lower rates are I'll discuss some of that today. This stuff obviously influences marketplace behavior. In fact, here we are now, years after rates made their historic surge and nearly tripled between 2022 and 2023 and yet still, 70% of mortgage borrowers have an astoundingly rock bottom rate below 5% today, lower than the ocean floor, and they won't sell those properties. That's just one contributor to the low supply hangover that still lingers. Are today's buyers still anchored to an unrealistic baseline. It certainly reframed how investors think about normal borrowing costs and what that word normal means. My first ever rental property, many years ago, was purchased at a 30 year fixed rate of six and three eighths percent. One year later, I got to refinance a full 1% lower at five and three eighths. I'm happy that I bought one I did because starting year earlier, got all my real estate benefits rolling that much sooner, the leverage and everything else, and when I did that, refinance many years ago, from six and three eighths down to five and three eighths, I was able to roll all of my loan refinance costs into the new mortgage balance, and that way I didn't have to pay anything out of pocket. So financing is negotiable. A lot of investors don't realize that buy down your rate if you want roll the loan costs into the loan amount, like I did. In fact, I would usually rather have a higher mortgage rate and then not have to come out of pocket at the table. I would rather do it that way. Sometimes I take a higher rate and even get cash back at the closing table. So I walk away from the closing table with a property and cash, but yet with a bigger mortgage. And what's the strategy there? Well, with more inevitable Inflation, I want to load up on the dollars that I get now and then make those paybacks over the long term with future cheaper, diluted dollars for 360 months, sometimes I don't have to ask the lender for any sort of favor to get that zero help from the lender at the closing table to get cash back. How do I do that? Well, I ask the seller to give me cash at the closing. Closing table in return for offering the seller full asking price, or sometimes even over the asking price. I have done it the strategy of offering full price or even a little more than the full list price. See, that's often easier than getting a price cut from the seller, and that works great, because getting the closing table, cash is going to benefit you more than the price cut would anyway, in almost every circumstance, and when it comes to your lender, ask them questions that cut through the noise. Now, lenders have to make their profits somewhere and stay in business, but I've asked the question, what's the break even point on this rate buy down. That's something you can ask today. That can be an even better question for you to ask of builders with all of the buy downs that they're doing for you now, most people know about a mortgage rate lock. That's when you're in contract to buy a property. At some point, you and your mortgage company, you lock in your rate for, say, 30 to 60 days, and that way, if the rate rises before the deal is completed, you are protected. You are locked in. But some lenders also offer float downs. That's for if you lock and then rates go lower before you get the deal closed. In that case, you get the lower rate, and now you successfully played both sides, but most borrowers don't know to ask about a float down for larger apartment buildings, sometimes you can negotiate away prepayment penalties or instead a shorter penalty window. The thing to keep in mind is that smallest borrowers negotiate price, but savvy investors negotiate structure. That's what we're talking about here, and that's why you often hear that terms are more important than price. So there's plenty of opportunity here, even if historically low rates is not where today's opportunity lies. Today, we're going to discuss some things about mortgages that most people believe but are just flat out wrong. Also, what separates the borrowers who build real estate portfolios from the ones who stay stuck on property one, let's have a conversation with this week's repeat guest, a real favorite here at GRE for her mortgage clarity.   Keith Weinhold  7:35   Hey, the president of ridge lending group, Chaley Ridge is back with us. We'll get into things like rates and loan strategy shortly, but first, let's discuss some fun. What would you do? Chili, what would you do if you're 35 and have 100k to invest in real estate? What's your first move? Ooh, good question.   Caeli Ridge  7:55   So let's think five years ago for me now I'm 35 what would I do if I had that was a joke for all you listeners, obviously, you know, I think that if I could go back and knowing what I know now, I would probably invest that into an owner occupied house hack using an FHA loan. Probably look for newer construction if I could find it, and I would probably target a four unit residential property. I'd probably put three and a half percent down lowest rates with that. FHA, I would leverage my money, and I would get three other tenants in units, two, three and four to pay my mortgage, and then I'd use the rest to go buy an investment property   Keith Weinhold  8:32   much like I started out with the owner occupied four Plex, live in one unit, rent out the other three. FHA, three and a half percent down. What if someone, however, lives in a market where the numbers just don't work and the law really tilts toward the tenant rather than the landlord.   Caeli Ridge  8:47   You know, that's a good point. There's a lot of factors, obviously, right? And there's exceptions to all rules, etc. So I don't want to generalize, but I would probably take the 100,000 and maybe look at some kind of a burr in that case, maybe pivot and do some math and see if buy rehab rent refi might be more applicable. To take that 100 grand and leverage it that dollar bill, as far as I could make it  go   Keith Weinhold  9:10   sometimes you have to get scrappy when you're starting out another what would you do now? Say you've got some more experience. You already own two rentals. How do you scale that to 10.   Caeli Ridge  9:21   You know, my biggest piece of advice for investors, especially newer ish investors, is to make sure that you've got your eye on some level of diversification. Scaling from two to 10 can sound pretty daunting to some people, but I think that diversification advice comes in handy when you're not singularly focused on, let's say, a core philosophy of single family, residence, cash flow only in one market instead, maybe layer in some appreciating markets where you can earn and count on longer burn appreciation that you can then leverage from to then purchase the next to the next to the next, right. Cash. Refinances borrowed funds are non taxable. I would probably say diversification is the core answer to that question. For me,    Keith Weinhold  10:07   yeah, if you've already got two properties, maybe if you've had those for a few years, yes, you can do a cash out refinance and basically use one of your first two properties to fund that third and fourth and so on, right exactly? How about if rates drop 1% tomorrow? What's the next thing you would do? Immediately?    Caeli Ridge  10:29   I would do the math. Is what I would do, Keith, and I know you love that answer. So if I had a portfolio of X number of properties and rates just dropped 1% tomorrow, I would take a hard look at what I had in the queue, and I would say, Okay, how much does a one percentage point rate save me in monthly payment, aka, earn me in cash flow, and what is it going to cost me? It is imperative that the investor is actually doing the math. 1% may sound amazing, but if it's only going to save you 5060, bucks a month, and maybe that's enough, but it might cost you five grand. Does that math work for you? So that's my answer. Do the math?   Keith Weinhold  11:08   Yeah, if rates drop 1% does that make you want to perform more purchases? Does that make you want to refi something that you already have and at the same time that you do that refinance? Okay? That may or may not save you a lot in payment. But another consideration is, okay, well, at the same time you do that refinance, oh, maybe you could take cash out and use it as a down payment for another property, or just use that money for something else,    Caeli Ridge  11:33   absolutely, and you know what we're talking about. That from a purchase perspective, if rates drop 1% tomorrow, from an investment perspective, what do we think is going to happen to the rest of the market? The homeowners are going to be coming out of the woodwork, right? The owner occupied the competition is going to get very, very stiff, steep. I would say that if you are banking on or waiting for rates to do X, Y and Z, you are missing massive opportunities today. So there's a lot of reasons not to hesitate and be waiting on some magic, massive rate drop.   Keith Weinhold  12:04   All right. Well, those were three interesting what would you do scenarios you mentioned the possibility, and it's surely only a possibility that mortgage rates will drop sometime in the near future. Let's expand on that. If someone is indeed waiting for rates to drop. What are they risking in the meantime?   Caeli Ridge  12:25   You know, this is such a good but complicated question. There's a lot of layers to this. If someone has a magic number in their head, again, I'm going to press back and say you have to be doing the math. All right. So a lot of people conveniently, maybe not so conveniently. But a lot of people forget that interest rates, by nature, always drop or reduce much slower than they're going to climb. Okay, historically, go back and do your own research here. Interest rates, when they go up, they tend to kind of go up quickly. When they come down, they really kind of trail, and it's a slow, progressive landing. It's not a quick thing when they come down. So if we know that that's true, or at least historically, that's been true an interest rate reduction of an eighth or a quarter or three, it's of a point. Maybe that takes us a month or two or six or a year. What does that really mean to that payment? You have to be doing the math so, largely dependent on the loan amount. Okay, if you think that interest rates are going to be reduced in a month from now by a quarter of a percentage point, what does that mean to the payment? Does it mean $12 a month? Does it mean $100 a month? And in that scenario, in that calculation, what are you giving up by waiting the month or two or six for a what if I think that you are diminishing your rates of return by waiting on a come that one may never happen, and two, the significance is probably far less relevant than you are giving it credit for.    Keith Weinhold  13:52   Now, I think generally real estate investors want low mortgage rates. Obviously, it gives us a better refinance opportunity. It gives us a better purchase opportunity, potentially, okay. In general, we want lower rates. However, there are some reasons a lot of people don't think about as to why lower mortgage rates are actually bad for a real estate investor. If you just look historically, when have we had extraordinary low mortgage rates here in these past 20 years? Well, they've been to get us out of huge economic problems, late to global financial crisis or the covid pandemic. So if you're wishing for really rock bottom rates, which again, is tempting to do, and is advantageous, in a sense, there is a downside as well. If there are super low rates, a lot of people might be out of work, including your tenants. So that's the reason that we want to be careful as to what we wish for, with rates being super low and artificially low, like they were a couple times in the past two decades. And you know, Caeli another reason why I'm not fully in love. With low mortgage rates, although I liked them, is the fact that I look back and notice as being a property investor for more than two decades now, is that I have had tenants leave when mortgage rates are too low and lending is too easy, especially leading up to the global financial crisis, it was so easy to get first time homebuyer loans at really attractive rates. So I had higher vacancy because mortgage rates were so low that my tenants left and became first time homeowners. So yes, we generally want lower mortgage rates, but there is a downside to that as well.    Caeli Ridge  15:35   And I think there's probably a sweet spot, I think such a good point that most people probably don't think about Keith, and I couldn't agree more, when rates have been at their lowest. To your point, all hell is breaking loose economically in so many other sectors. Yeah, be careful what you wish for.   Keith Weinhold  15:51   Any old time, real estate investor would find it really humorous and almost cute that people think mortgage rates between six and 7% are high. You and I know they're historically low. 7.7% is the long term owner occupied, 30 year fixed mortgage rate going back to 1971 per Freddie Mac the most reliable stat set that we have. But now that we have come up back into what's really a more normal range, just like we started to do in 2022 How should someone think overall in not a high but a higher mortgage rate environment? What are some things that actually matter more now than they did before back five plus years ago?    Caeli Ridge  16:32    I want to give you some statistics. So from 1990 to now, the average owner occupied rate was 6.08 now that's owner occupied, and more often than not, you can add about a point percentage point spread between that and non owner occupied in general. So we are right in line with the last 36 year swing of where interest rates have been. So please keep that in mind. Again, that psychology piece. But overall, I think that what we need to be paying attention to, even if, over the last five years, 10 years, interest rates are a little bit higher than we came to recognize them, the pandemic was an outlier. You guys. Okay, let that lie that's hopefully never to repeat itself. But what we want to be focusing on, and I know that I'm beating a dead horse here, is that you have to get rid of the mental block that you have about that number that we call an interest rate. You need to be looking at a property holistically that says, does it cash flow based on this tenant application? What about this tenant application? What is my exit strategy? Is my property management doing the job that it needs to be doing? Can I trust them to ensure that my vacancy is low? And if I have to evict somebody that they know what they're doing and they know all the rules in the different cities and counties, I think that those are going to be more prevalent to the successful real estate transaction that gives you the financial freedom that you want long term, stop fixating on the rate. That's my advice.    Keith Weinhold  17:53   Some of those operations that you talked about are controllable, and the mortgage rate is largely uncontrollable outside of maybe getting a better credit score to get a lower rate or something like that, focus more on what you can control. And Caeli, you touched on something interesting that I think a lot of people don't understand, and that is investor financing versus owner occupant financing. A lot of people just don't understand the differences as to why investor loans cost more, tell us about that.   Caeli Ridge  18:25   Yeah, good question. It happens to be about secondary markets, so I won't get too technical, but when we talk about mortgage backed securities right Wall Street, and this is an asset class that is bought and sold and traded, etc, etc, there are demands, obviously, and then you've got layers of risk. So the baseline thinking is that an owner occupant is less likely to default on the home that they live in, right? Something is going on financially with them. They've got some hardships, etc. They're going to cut loose the rental property before they're going to default on their primary so that's just kind of the overall basic. There's other variables in there, but that's the one that makes the biggest difference. Is default rates on an owner occupied versus a non owner occupied. Now I may argue, if I can just add to this. So this is a little bit of a history lesson for those that maybe remember or too young to remember this. 08, 09, housing and lending implode on each other in this country, the financial crisis, et cetera, et cetera. It was the Wild West before that. You could have a pulse and get a mortgage, even investors right, 0% down. They had some pretty risky things out there. We didn't do that kind of stuff, but they were out there, and I certainly contributed to what happened with the oh eight financial crisis. So fast forward, and I feel like when things like that, especially in this country, happen and devastate big, huge sectors of our economy, we knee jerk. And we knee jerk in a way that is almost the 180 of irresponsibility. Let me explain so when we talk about what it used to be like, fogging a mirror, right, having a pulse and getting a loan as an investor or anyone. For that matter. Now fast forward to post, 08,09, you've got Dodd Frank, all that sweeping legislation, etc, they raised the qualification bar. Okay, that's fine. Now I want to come into today's space, and I want to give you guys an idea of the qualification markers between an owner occupied let's just use an FHA and a non owner occupied purchase. So you can have 580 credit and put three and a half percent down and have slightly over a 50% debt to income ratio and get an FHA loan, a GSE government sponsored enterprise loan. All right, a non owner occupied you've got to walk on water. Man, I make that dumb joke, files of blood and DNA samples, you've got 20 25% down minimum. You've got to have x higher in credit score, all these extra reserves, etc, etc. So I would argue that secondary mentality, thinking the non owner occupied is, in my opinion, probably a more stable loan as it relates to default. So there's some disconnect. I think that the way that that is thought about in secondary market speak, but maybe a little TMI for the listeners. In any case, that's the reason that they're looked at differently. The ideal, or the idea is, is that the owner occupied is less likely to default than the non owner occupied. I would disagree with that premise,   Keith Weinhold  21:19   and I think you would agree that things are still pretty tight because lending requirements are still pretty rigid, still pretty strict. You have to have a good credit history and assets and income, unlike what we had to have 20 years ago, when I was a real estate investor myself, back when things were irresponsible and back when things were free flowing, and money was flying, and a lot of nefarious things were happening. Even though I had a good credit score all my life, I was the beneficiary of those High Flying Wild West times myself. I remember on the first four Plex I owned after I had moved out of it so I didn't even occupy it anymore, I got a generous appraisal for a 90% combined loan to value, cash out, refinance 90% that I would not get today, no way.   Caeli Ridge  22:10   Yeah, but that knee jerk is, I think, also part of the problem. They go the opposite way that pendulum shift is, I feel like there needs to be a little bit more reasonability in the mix and different markers to justify who should be getting or being able to take advantage.   Keith Weinhold  22:26   When we talk about investor loans versus owner occupied loans, that really begs the question. Now, when does it make sense to house hack versus go straight into investor loans? What are some of the trade offs there.   Caeli Ridge  22:41   I would argue that if you are in a position and you're willing to share your primary residence with you know, tenants house hack is always a great idea, because you've got these great loan terms, you've got this massive leverage, and almost always you've got other people making the entire mortgage payment for you, or the vast majority of that mortgage payment, I'm such a big fan of that is a strategy for real estate investing. You've got to do it right. You got to do it by the rules. But I can't think of a downside if you qualify and you're willing to do that, to live with other people right next door, etc, etc. Some families don't think that that works for them, whatever, but I just think it's a fantastic way to jumpstart someone's real estate investment journey and then continue it. If you do it right every 12 months, then you'll be able to continue to parlay into the next, the next, the next. One thing I would say about that that I don't get a lot of opportunity to talk about, but since we're talking about here, if you're going to house hack and you've got, you know, a duplex, triplex fourplex, and you want to manage it yourself, which I think everybody should be responsible to manage at least one rental property in their lifetime, maybe official, yeah, yeah. More often than not, people will tend to pay for that service down the road. But having the experience is valuable. Do not tell the other tenants that you are the home owner, do yourself a favor and just you're another tenant, but you're taking care of you know, you don't want to let them know that you actually own the property. There's lots of emotional and different things that you want to avoid giving that information away to the tenants.   Keith Weinhold  24:17   I have had two friends, and each friend owned a fourplex, and what they did is they would manage the other person's fourplex. That way, they were able to keep it more professional and less emotional, since it wasn't the owner directly dealing with the tenant, and that provided a buffer that really benefited them. I haven't done that myself, but I found that such an interesting way to approach it?    Caeli Ridge  24:42   Yeah, that's smart. If that ends up being your situation, definitely horse trade that way. Otherwise, you're just a tenant and you can be on call whatever, just avoid giving that information back to the other tenants that may be there.   Keith Weinhold  24:54   Well, there's an underwriting reality out there that chili can share with us versus. Some of the online advice that you get, and what some of the biggest myths are that borrowers believe. We'll talk about that next. You're listening to get rich education. Our guest is Ridge lending Group President chailey Ridge, more we come back. I'm your host. Keith Weinhold.    Keith Weinhold  25:12   Flock homes helps you retire from real estate and landlording, whether it's one problem property or your whole portfolio through a 721 exchange, deferring your capital gains tax and depreciation recapture. It's a strategy long used by the ultra wealthy. Now Mom and Pop landlords can 721 the residential real estate request your initial valuation, see if your properties qualify@flockhomes.com slash, slash GRE, that's F, l, O, C, K, homes.com/gre    Keith Weinhold  25:47   the same place where I get my own mortgage loans is where you can get yours. Ridge lending group and MLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your prequel and even chat with President chailey Ridge personally. While it's on your mind, start at Ridge lending group.com that's Ridge lending group.com   Ted Sutton  26:22   Hey, it's corporate directs Ted Sutton, listen to get rich education with Keith Weinhold, and don't quit your Daydream.   Keith Weinhold  26:29    Welcome back to get Rich's case, we're talking with a familiar and recurrent guest Ridge lending group, President Caeli Ridge Kelly, talk to us about your underwriting reality there, versus some of the advice that one gets online sometimes, including what really gets a loan approved with some of those things like income and reserves and DTI.    Caeli Ridge  26:59   You know, this can be so confusing for the consumer, because there are so many different vehicles in which to get Mortgage Funding, and there's something in our industry called an overlay. Okay, an overlay is taking the purest form of a guideline and adding layers of risk to it. I'll give you an example. Let's say that we know, or most of us know that Fannie Mae and Freddie Mac allow for up to 10 finance properties per qualified individual, right? That is a straight Fannie Freddie guideline B of A, and this could be wrong, but a big boy bank may have an overlay and layers of risk that say we will only allow up to four, right? So all of this differing information, conflicting information, when the nice thing with ridges is that we go by the purest form of the guideline, we are not going to impose those overlays. So in working with us, you're always going to be sure that we know exactly what those guidelines are. We know them like our own faces, and that we're not going to impose some additional risk layering or overlay that might prohibit or preclude the qualification. It's pretty basic stuff. I mean, if you're going full doc, Fannie Freddie, and this can apply to our owner occupied and, of course, all of our non owner occupied income, debt to income, credit and assets, it's a pretty basic formula that we use. And then we've got all the other products that we have. Again, knowing those underwriting guidelines like the back of our hand, is very important to making sure that we can navigate the battleship in a creek. That's the analogy that I give that tends to be mortgage lending, or what feels like mortgage lending anyway. So it's pretty basic. We have to understand what the borrower's qualifications are out of the gate, and then we can provide them with a schematic of options that they can tell us which direction they want to go in    Keith Weinhold  28:42   for quite a long time now, one could get 10 conventional investor loans, single or 20 married. It wasn't always that way. I remember attending a real estate workshop in 2012 and you could only get four loans, or at least you could only easily get four investor loans before that expanded to 10. And we just shouldn't always assume that it's going to be this way forever.   Caeli Ridge  29:06   Yeah, so I kind of going back before 08,09, there was no limit to the number of finance properties Fannie and Freddie would secure per individual. After that crash, it shut off, and it got to four to your point. And then it stayed there for a while, until we kind of brought it back to that 10. You know, there's been rumors for years that they're going to up it to 12 or 15 or some random number. I don't even know where it's coming from. I always make a joke and say, Yeah, between now and my death, we'll see that. But it would be nice. It would be nice if they increase that number a few   Keith Weinhold  29:35   now, as someone is qualifying there, you probably run into a lot of borrowers that believe certain myths or have to have misconceptions corrected. Tell us about some of those    Caeli Ridge  29:45   the biggest myths, I'm going to say that it's probably one of three things they believe that they've got to make 10s of 1000s of dollars a month or hundreds of 1000s of dollars a year to qualify. Absolutely not true. It's so much less about the monthly. Income than it is the monthly income in relation to your minimum payments on your credit report. So just as an example, I could have a client that only shows $1,000 a month of income, but if they truly have no debt and some of the other qualifying criteria, they can qualify for a mortgage on an investment property, because the investment property has income to offset that mortgage payment. So it dispel the myth about having massive amounts of monthly income. That's not necessary. It's about the income and your monthly debt that we find on your credit report. That would be the first thing. The other thing, speaking of credit reports, I would say, is that a lot of times, people think that the overall debt that they're carrying matters. I mean, Mr. Jones could have $300,000 worth of debt, but his monthly payments are only 1500 All I care about is that monthly amount. I do not care what the total outstanding debt is. I hear that one a lot inquiries, credit inquiries. Every time you have your credit pulled, it drops the score, 20 points. Not the case. Now I can go down that rabbit hole, Keith, but it is a rabbit hole, so maybe I'll just leave it there. Your credit score does not drop X number every time you have your credit pulled. That's a misnomer.   Keith Weinhold  31:07   Well, actually, that brings up a thought. Then once prospective borrower initiates with you in there and gets the ball rolling in qualifying for a loan, what are some reasons that deals die late in the process? So what does it take to be sure to hold that together?   Caeli Ridge  31:23   You know, I think it all boils down to communication. And we tell our clients this on the front end, treat us like your attorney. You tell us everything, do not own anything, so that we can ensure that we're guiding you appropriately. So lack of information can derail things. Let's say, for example, they change jobs, and it's a completely new line of work, and it could prohibit or preclude the amount of income that we could have we were using now DTI gets changed, or they buy a new car in the middle, and they don't think it's going to come up. And now it's a DTI issue. It can be all kinds of things, but the point there is communication is key. Just keep us informed, and then we will give you the input or advice, and then you do what you want with that. But at least it's not once the bell is rung.   Keith Weinhold  32:05   Live pretty conservatively and safely until that loan closes. Yes, sir. Well, does that bring up any stories? Sometimes people learn better that way. Is there a deal? Perhaps that should have worked, but it didn't.   Caeli Ridge  32:20   That's a good question. You know, I think that the answer is no, and mostly because we have such a diverse menu of loan products, even if something did happen and even if it was outside of anyone's control, let's say we would normally just pivot to another loan product that would accommodate whatever that event ended up being. I cannot think of an example where a deal fell apart that could have gone differently, that we weren't able to just simply pivot into another path and close the loan for    Keith Weinhold  32:49   well, America is a place that promotes entrepreneurship, and it seems like side hustles as well are more popular than they've been before. So can you talk to us about how self employed borrowers get evaluated?    Caeli Ridge  33:04   Yeah, it is different. I mean, the simplest way to describe it is, we're going to take the adjusted gross income, but there are something called add backs. So depending on what their deductions are, there are certain things like Depreciation or Amortization or, I mean, there's a whole slew of things that we're able to take those numbers and add it back into the Adjusted Gross and then divide by 12 or 24 whatever it needs to be. That's typically what we're going to be looking at for a self employed person, versus the straight w2 is just the gross income divided by 12 months.   Keith Weinhold  33:35   Well, Caeli, this has been really good with some strategies and some actionable tactics. Before I ask how one can learn more about ridge? Is there any last thing that you'd like to share with us, whether that's to expand on anything we discussed, or any of the more nascent things that have happened, like banks holding less in capital reserves, or Fannie Mae, except in crypto back mortgages? Is there anything else we really ought to know?    Caeli Ridge  33:57   You know, I think my advice right now for anybody that is in real estate investing, thinking about getting into real estate investing, be informed. Listen to people like Keith, ideally, listen to people like me. I've been doing this for a very, very long time. I'm an educator at heart. Get your information from sources that you can trust, and try to avoid the analysis paralysis the best you can. I know that people get hung up on that, but now is the best time ever, and I would say that tomorrow and the next day and next year and the year after that, to invest in real estate.   Keith Weinhold  34:27   Yes, the only thing that could possibly make now better than ever is now is sooner than it's ever going to be again. Well, Caeli, if someone wants to get a hold of ridge so they can tell you their situation, and you can then help them find out how you can best help. What should they do?    Caeli Ridge  34:43   There's so many ways. Check out our website, ridgelinengroup.com you can email us info@ridgelinengroup.com you can call us toll free at 855, 74, Ridge. All of those ways get to us, and I look forward to speaking with each and every one of you   Keith Weinhold  34:58   that's been valuable. Always It's been great having you here.    Caeli Ridge  35:01   Thanks. Keith   Keith Weinhold  35:08   Caeli brought up a great point from the lender's view, when they make a loan, it might be safer for them to lend on an income property loan, actually, than it is for your own home, because on the income property, you have a substantially higher qualification bar to clear, and you have to make a higher down payment on it. I hadn't thought about it that way before. As far as Fannie Mae accepting crypto backed mortgage structures, that is still new as of this year. How it works with a crypto backed mortgage is that you're usually getting two loans. First you get a normal mortgage, and then for your down payment, it's a separate loan that's backed by your crypto. Your crypto stays locked up for years and you can't trade it while it's pledged as your home down payment. That's generally how it works. But notice the attraction. You would also get to keep your crypto while you're leveraging it. Also notice the risk there, and very few banks offer this, think Coinbase and not JPMorgan Chase. It's still new and niche, and it remains to be seen whether or not crypto backed loans will gain any real traction. It's only likely going to accept Bitcoin, Ethereum or stablecoins, not altcoins. Only about 1% of homebuyers use crypto in transactions. Most of what the current presidential administration has done focuses on making mortgages easier to get, not in making homes cheaper. Making mortgages easier to get means more bidders and higher prices. Washington can make it easier to get a mortgage, but they cannot make a $400,000 property cost $300,000 we talked about how to borrow to win today, and big thanks to our terrific guest. Until next week, I'm your host. Keith Weinhold, though you might quit your day job, don't quit your Daydream.   Speaker 2  37:17   Nothing on this show should be considered specific, personal or professional advice, please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC, exclusively you   Keith Weinhold  37:45   The preceding program was brought to you by your home for wealth, building, get richeducation.com  

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