Podcasts about Morgan Stanley

September historically has been a big month for corporate bond issuance, but borrowing looks less attractive to companies due to the large rise in yields.----- Transcript -----Welcome to Thoughts on the Market. I'm Andrew Sheets, Global Head of Corporate Credit Research for Morgan Stanley. Along with my colleagues bringing you a variety of perspectives, I'll be talking about trends across the global investment landscape and how we put those ideas together. It's Friday, September 22nd at 2 p.m. in London. Credit has outperformed equities recently, with spreads modestly tighter, even as stocks are modestly lower. We think that credit outperformance continues. Supply, demand and income are all part of the story. September is usually a big month for corporate bond issuance as people return from the summer, and all that supply often means somewhat weaker credit performance. But so far, that supply is underwhelmed. While many factors may be at play, we think one is that borrowing is looking less attractive given the large rise of corporate bond yields. Not only are investment grade bond yields at some of their highest non crisis levels in the last 20 years, they're unusually high relative to the earnings or dividend yield offered on company stock. Now, if a company views their equities attractive relative to debt, one way they can express this is to borrow more while buying back or retiring those shares in the market. But conversely, if companies start to view borrowing as expensive, relative to their shares, borrowing and buybacks should both slow. And year-to-date that's exactly what we've seen from non-financial investment grade companies. Meanwhile, those same higher yields that are making companies more reluctant to borrow are keeping demand for bonds solid. And if both the Federal Reserve and the European Central Bank are now finished raising interest rates, as my colleagues in Morgan Stanley economics expect, it could mean that investors are even more willing to allocate to these high grade bonds, while simultaneously encouraging companies to display even more patience with borrowing now that rates are no longer rising. But there's another even more mechanical advantage that credit enjoys. The significant rate hikes from the Fed, and the European Central Bank have meant very high yields on safe short term cash. That, in turn, has made the cost of holding almost any asset more expensive by comparison. Due to these very high cash yields and the fact that short term interest rates are higher than long term interest rates, owning equities or government bonds in the U.S. and Europe is a so-called negative carry position, costing money to halt. The passage of time if nothing changes, is currently working against many of these asset classes. But this isn't the case in credit, where both the level of spreads and the shape of the credit curve mean that the passage of time works in favor of the holder. And it's worth noting that two other assets that have this so-called positive carry property, the U.S. dollar and oil, are also currently being well supported by the market. We think the Federal Reserve and the European Central Bank are now done raising interest rates for the foreseeable future. We think this could modestly discourage borrowing by investment grade companies as they wait for more favorable rates and encourage buying as investors hope to now lock in these higher yields. Moreover, we think that this pause by central banks could help reduce overall bond market volatility, working to the relative advantage of assets that pay investors to hold them like corporate credit does. Thanks for listening. Subscribe to Thoughts of the Market on Apple Podcasts, or wherever you listen, and leave us a review. We'd love to hear from you.

Victoria has a lifelong interest in studying the interactions between microbes and their surrounding environment. She earned her Ph.D. in Microbiology and Immunology from the University of Michigan before moving to Dartmouth College to further her studies with postdoctoral research. As Chief Science Officer of Imio, Victoria has led the development and production of multiple microbial products that replace harmful chemicals and enable healthier, more productive cultivation of plants. Charles started Imio to dedicate his career to helping people, plants and our planet. After graduating from Dartmouth College, he began his career at Morgan Stanley where he focused on the technology sector. He moved on from finance to join a NYC based software startup where he gained valuable insight into scaling companies and teams. As CEO of Imio, Charles manages Business Development and Operations, as the company works to unlock plant productivity and restore our planet through the power of nature.  Now on to the show!

In this episode of our Private Markets Miniseries, we explore a French firm, whose growth has now firmly established it as a major force in the global alternatives industry. Started in 2004 in Paris by Mathieu Chabran and Antoine Flamarion, then aged 28 and 31 respectively, with €4m of assets compiled from personal savings, friends and family, today it manages over €40 billion.  Mathieu explains their motivation to leave leading investment banks to build a business specialising in private credit, private equity, real assets, and capital markets strategies. He discusses their first deal and their approach to the partners with whom they invest (such as TotalEnergies, Unilever and Airbus). Mathieu also discusses their equity partners, which includes Temasek, Morgan Stanley and most recently, SFI Investments (the investment vehicle which manages the wealth of the family behind AB InBev). In a wide-ranging conversation, Mathieu explains the important of committing their own capital to their transactions, the compelling opportunities in Europe's mid-market, capital allocation, sustaining an entrepreneurial culture and why a firm specialising in private assets choses to list as a public entity.  Sign up to our newsletter for more in-depth insights | Follow us on LinkedIn The Money Maze Podcast is kindly sponsored by Schroders Capital, Bremont Watches and LiveTrade.   We're also pleased to be highlighting & supporting GAIN as our 2023 Charitable Partner. 

Even with the possibility of a fourth-quarter slowdown in consumer spending, positive data across the board suggests the U.S. economy is still on track for a soft landing.----- Transcripts -----Ellen Zentner: Welcome to Thoughts on the Market. I'm Ellen Zentner, Morgan Stanley's Chief U.S. Economist. Sarah Wolfe: And I'm Sarah Wolfe, also on Morgan Stanley's U.S. Economics Team. Sarah Wolfe: And today on the podcast, we'll be discussing our updated U.S. economic outlook for the final quarter of 2023. It's Thursday, September 21, at 10 a.m. in New York. Sarah Wolfe: Ellen, since early 2022, you and our team have had a conviction that the U.S. economy would slow without a crash and experienced a soft landing. We maintained that view in our mid-year outlook four months ago, but we've recently revised it with an expectation for even stronger growth in the U.S.. Can you highlight some of the main drivers behind our team's more upbeat outlook? Ellen Zentner: Yes, so I think for me, the most exciting thing about the upward revisions we've made to GDP is that there's a real manufacturing renaissance going on in the U.S. and according to our equity analysts, it is durable and organic. So it's not just being driven by fiscal policy around the CHIPS Act and the IRA, but this is de-risking of supply chains, it's happening across semiconductors, our industrials teams have noted it, our construction teams and our LATAM teams around what's going on in terms of on-shoring, nearshoring with Mexico being the biggest beneficiary. So I think that's a really exciting development that is durable and then the consumer has been more resilient than expected. And I know that, Sara, you've been writing about Taylor Swift effect, Beyoncé effect, Barbenheime, you know, and it's just added to a very robust consumer this year than we had initially expected. Sarah Wolfe: Ellen, and what about inflation? What role does inflation continue to play at this point? Is the disinflationary process still underway and what are our expectations for the rest of this year and next? Ellen Zentner: Yes, So I think the disinflationary process has actually played out faster than expected. Well, let me say it's coming in line with our forecast, but much faster than, say, the Fed had expected. And we do expect that to continue. I think some of the concerns have been that the economy has been so strong this year and so would that interrupt that disinflationary process? And we don't think that's the case. The upward revisions that we've taken to GDP that reflect things like the manufacturing renaissance also come with stronger productivity, and they're not necessarily inflationary. But Sara, since your focus is on the U.S. consumer, let me turn it to you and ask you about oil prices. So oil prices have rallied here, you've spent a good deal of time looking at the impact that rising prices might have on real consumer spending, so how do you go about analyzing that? Sarah Wolfe: You're correct. Energy prices do impact consumer spending and in particular, when the price jumps are driven by supply side factor. So supply coming offline, that acts like a tax on households and we see a decline in real spending. We in particular see real spending impacted in the durable goods sector and in autos in particular. We have seen quite a rally recently in oil prices. It's definitely not to the extent of what we saw last year, but what we're going to be watching is how sustained the rally in oil prices are. The higher prices stay for longer, the more it impacts real consumer spending. Ellen Zentner: So retail sales have been strong, when are they going to be slowing? I mean we're going into the fourth quarter here, all on the consumer it looks like it's been stronger than expected. And I know this is sort of a maybe too broad of a question, but are consumers still in good health? Sarah Wolfe: As you mentioned earlier, consumer spending has been more resilient than expected. In part, it's been due to the fact that we've seen a full rebound in discretionary services spending, but it was not paired with a one for one payback in discretionary goods, which we've seen in the retail sales report, have held up better. And so while the consumer remains fairly healthy, we do expect to still see that pretty notable spending slowdown in the fourth quarter and part of that is being driven by the fundamentals. We have a cooling labor market, a rising savings rate, higher debt service obligations. But then as you also mentioned earlier, we had the roll off of some of these one off lifts like Barbenheimer, Beyoncé and Taylor Swift. Ellen Zentner: So why doesn't the consumer just fall off a cliff then? Sarah Wolfe: Because part of our big call for the soft landing is that the labor market is going to be relatively resilient. We do have jobs slowing, but we do not have a substantial rise in the unemployment rate because we think this labor hoarding thesis is going to help support the labor market. So at the end of the day, while there's pressure mounting on consumer wallets, if they have a job, they will continue to spend, though at a slower pace. Ellen Zentner: All right. So if labor income and healthy job growth is the key to consumer spending, you know, what are we telling investors about the UAW strike? Because that really muddies the picture for how strong the labor market is. Sarah Wolfe: The UAW strike is definitely worth watching, there's 146,000 union workers that work for the big three. At this point, the impacts should be fairly contained, we only have 13,000 workers on strike at three different plants. However, if we see a large-scale strike of all the union workers, that lasts for some time, I mean that's definitely going to take a hit to the labor market. It would be a one off hit because when the strikers come back, you see them re-added to payrolls. But it definitely will be a more sustained hit to economic activity and motor vehicle production. It's very hard to make up all the production that is lost when workers are on strike. So we're definitely watching this very closely and it's definitely a risk factor to economic growth in the fourth quarter. Ellen, I'm turning it back to you, with all these various factors in play has anything changed in our Fed path? Ellen Zentner: No, it hasn't. In fact, as the data comes in and what we're looking for ahead, it tells me even more so that the Fed is done here. So they're sitting on a federal funds rate of 5.25% to 5.50%, and there are a lot of pitfalls possibly ahead with the incoming data. So you have GDP benchmark revisions, which will be significant by our estimate, that are released on September 28th, so later this month. Two days later, government shutdown possible. You talked about the UAW strike that's gonna, again, muddy the picture for job gains. And so there's a lot on the horizon here. You know, in the environment of inflation falling and question mark around how much policy lags still have to come through, I think it's just a recipe for the Fed to go ahead and hold rates steady and so we think that they're done here. All right. So we'll leave it there. Sarah, thanks for taking the time to talk. Sarah Wolfe: As always, great speaking with you, Ellen. Ellen Zentner: And thanks for listening. If you enjoy Thoughts on the Market, please leave us a review on Apple Podcasts and share the podcast with a friend or colleague today.

Vanessa Barboni Hallik is the Founder and CEO of Another Tomorrow, a new ready-to-wear brand operating at the intersection of sustainability, ethics and design, launched in January 2020. She is also an investor in early-stage companies with strong ESG commitments and potential to catalyze positive change, and currently serves on the New York Advisory Board for the Trust for Public Land, for which she chairs the Playgrounds Committee. Prior to Another Tomorrow, Vanessa was a Managing Director at Morgan Stanley, where she held several leadership roles in the emerging markets fixed income business. While at Morgan Stanley, she served as a trustee on the Board of the Morgan Stanley Foundation and chaired the Fixed Income Philanthropy Committee where she initiated and subsequently led the firm's mentoring program with East Side Community High School, a public school in the East Village of Manhattan, in partnership with PENCIL.org. Vanessa holds a B.A. in Economics from Cornell University and is an M.S. candidate in Sustainability Management at Columbia University's Earth Institute. She resides in New York City with her family and two dogs.   In this episode of Takin' Care of Lady Business®, Jennifer Justice speaks with Vanessa Barboni Hallik, a former Wall Street professional who made a significant career transition into sustainable fashion entrepreneurship fueled by her upbringing in a creative and environmentally conscious family and her strong business development background. Vanessa's perspective on this transition is deeply rooted in her belief that capital allocation shapes our future. She saw an opportunity to transform the fashion industry by meeting customer needs and delivering value through her sustainable fashion brand, Another Tomorrow. The brand differentiates itself through merchandising, price positioning, and technology, aiming to lead the industry towards a more sustainable and circular economy. Vanessa believes that commercial success and sustainable scale are crucial for their mission to succeed. She aims to expand geographically and deepen their focus on technology and circularity to benefit her business model and potentially others.   Here is what to expect on this week's show: Learn about Another Tomorrow's circular fashion model and its eco-friendly impact. Overcoming funding hurdles in the sustainable fashion world. Debunking the sustainability vs. profitability myth. Tune in for insights on overcoming obstacles and fostering growth. Quotes: "I became really convinced that the way that we allocate capital defines our future. Like minded." - Vanessa Barboni Hallik "If we had a choice, we would all choose another tomorrow than the one we're on course for. We would make different decisions and those different decisions would be available to us." - Vanessa Barboni Hallik "I deeply believe that for us to succeed in our mission of really modeling the future of fashion, we need to be incredibly commercially successful. And otherwise, everything that we're doing is just like cute, that's cute, that's nice. Small niche brands can do that, but these are not things that are applicable to the wider industry." - Vanessa Barboni Hallik   This episode is sponsored by Medjet. Medjet is the top-rated air medical transport and crisis response membership for travelers. If you're hospitalized while traveling or your safety is threatened abroad, they get you home. Join Medjet before your next trip at Medjet.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

A potential debt-deflation cycle in China could spell opportunity for U.S. Treasuries and Asia corporate bonds outside of China.----- Transcript -----Welcome to Thoughts on the Market. I'm Michael Zezas, Global Head of Fixed Income and Thematic research for Morgan Stanley. Along with my colleagues bringing you a variety of perspectives, I'll be talking about the impact of China's economy on fixed income markets. It's Wednesday, September 20th, at 10 a.m. in New York. We spend a lot of time on this podcast talking about the market ramifications of the evolving US-China relationship, and understandably so, as they are the world's biggest economies. But today, I want to focus more on the evolving economy inside of China and how it has implications for global fixed income markets. A few weeks ago on Thoughts on the Market, my colleague Morgan Stanley's Global Chief Economist Seth Carpenter, detailed how our Asia economics team is increasingly calling attention to what they term China's 3D challenge of debt, demographics and deflation. In short, there's a risk that servicing high levels of debt in China's economy could strain its weak demographic profile and dampen demand in the economy, all leading to a debt deflation cycle. While such an adverse outcome currently is in our economists base case, there's been material slowing in China's economic growth. So in either case, China, at least for the moment, is a weaker consumer on the global stage, meaning they may effectively export disinflation to developed market countries. And while our economists flag this weakness may not translate to substantial disinflation pressures, they also note directionally it may help already cooling inflation in places like the United States. Understandably, our team in fixed income research across the globe is focused on many potential impacts from the spillover effects of China's 3D challenge. But there's two that stand out to me as most relevant to investors. First, for investors in U.S. Treasury bonds, this disinflation pressure, even if modest, could help push yields lower in line with our preference for owning bonds over equities. That disinflation pressure could add to other more meaningful pressures in the U.S. in the fourth quarter, as student loan repayments start in the absence of major entertainment events that were a one time shot to consumption this past summer. Second, if you're an investor in corporate bonds, our Asia corporate credit team sees opportunities to diversify away from China Credit, which has been struggling to deliver solid risk adjusted returns and remains concentrated in the property sector, with our team seeing opportunities in Japan, Australia and New Zealand in particular. Credit markets in these countries not only provide geographical diversification but also diversification into sectors like financials and materials. This is a developing story that's sure to impact the global outlook for the foreseeable future, and you can be sure we'll keep you updated on how it will influence markets. Thanks for listening. If you enjoy the show, please share Thoughts on the Market with a friend or colleague, or leave us a review on Apple Podcasts. It helps more people find the show.

When you're a founder, you need creative ways to grow your business. Today's guest recognized that need, and built her company on it.We're sitting down with Keri Findley, Founder and CEO of Tacora Capital. Keri has two decades of experience in structured credit investing at leading firms, and as a private investor. She founded Tacora in 2022, securing a $250 million investment from renowned venture capitalist Peter Thiel.From 2009 to 2017, Kerry ran the structured credit portfolio for Third Point, the multi-billion dollar hedge fund founded by Dan Loeb. She was the first woman and the youngest person to be made partner at Third Point. Prior to that, she held a similar position at D.B. Zwirn, and began her career at Morgan Stanley.Keri currently serves as an advisor to Firework Ventures and 8VC, and is on the boards of Hearth, Karus, Point Digital, and Architect.Highlights: Keri summarizes her introduction to finance (2:51) Falling into the industry, and growing up as a 'math person'(3:22) Keri describes what it was like to begin in the finance industry in the late 2000's (4:28) Types of assets in the payment processing platform (6:10) Leaving her job, and how Keri came to found Tacora Capital (7:21) Working with Peter Thiel, and more about their partnership (9:14) Keri describes the audience, and kinds of investors that are attracted to Tacora Capital (10:10) Tacora's unique approach and structure in venture capital (11:14) Keri discusses whether she would rather Tacora be at a later-stage (12:50) Tacora's reason for focusing on Fintech and Insuretech fields (14:37) Keri gives an example of the opportunities Tacora has provided to one of their portfolio companies (16:00) Where Tacora's pipeline for new deals is sourced from (16:52) How the current financial and economic climate effects the work done at Tacora (18:22) How Tacora avoids risky situations and maintains discipline in their work (20:16) Keri predicts the future of the venture capital market based on recent history (21:37) 'Non-dilutive capital' and Tacora's approach to companies facing down-rounds (25:15) Why Keri decided to settle the company in Austin, Texas (27:07) Keri predicts how the banking model will change in the near future (30:04) Tacora's short-term goals and plans (31:22) Links:Keri Findley on LinkedInTacora Capital WebsiteICR LinkedInICR TwitterICR WebsiteFeedback:If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, marion@lowerstreet.co.

Welcome back to Season 9 of The HPScast. Host Colbert Cannon sits down with Alexa von Tobel, a dynamic entrepreneur, NYT-bestselling author, and venture capitalist. Alexa is the founder of Inspired Capital, an early stage venture capital firm committed to nurturing the next generation of exceptional entrepreneurs. We delve into Alexa's remarkable journey, from her early career at Morgan Stanley to founding LearnVest, a pioneering financial literacy company that was later acquired by Northwestern Mutual. Then, we discuss her latest venture, Inspired Capital — and why she's embracing more volatile economic conditions, including rising interest rates,  to build better businesses and teams. Throughout, Alexa shares her keys to success at every juncture and vital lessons learned along the way. Learn more about Alexa von Tobel and her VC firm, Inspired Capital here. Watch “The Social Network,” Colbert's Best Idea for this week, here.

John is joined by Dan Brockett, partner in Quinn Emanuel's New York office and Chair of the firm's Financial Institution Litigation practice.  They discuss how Dan and his team recently recovered over $581 million from JPMorgan Chase, Morgan Stanley, Goldman Sachs, UBS, and Credit Suisse, as well as significant injunctive relief, in one of the largest antitrust class action settlements in history.  They discuss how these large banks act as brokers profiting with little to no risk in $1.7 trillion stock loan market and how they allegedly agreed to boycott new technologies, particularly new electronic platforms, which posed a threat to the banks' lucrative position.  They also discuss how the case developed as a result of years of research by a Quinn Emanuel team at the firm's expense, the five and a half year history of the litigation, and how a settlement was achieved in mediation after a Magistrate Judge recommended that the class be certified.  Finally, they discuss the injunctive relief reforming the market that the Quinn Emanuel team was able to obtain.Podcast Link: Law-disrupted.fmHost: John B. Quinn Producer: Alexis HydeMusic and Editing by: Alexander Rossi

Today, Jack talks about Morgan Stanley's generative AI tool for Wall Street and the effect labor strikes can have on the US economy. Topics discussed: Morgan Stanley's generative AI tool for Wall Street The effect labor strikes can have on the US economy Links mentioned in this episode: https://invstr.com/ai-joins-morgan-stanley-on-wall-street/ https://invstr.com/strikes-and-inflation-us-economy/ https://invstr.com/september-19-watchlist-5/

No Morning Call de hoje, Henrique Esteter destaca uma abertura levemente positiva dos índices futuros, com mercados aguardando por definições de política monetária. O petróleo segue avançando, enquanto o minério de ferro recua levemente. Dentre os principais destaques: (i) Americanas apresenta planilha para comprovar que diretores omitiram informação sobre dívida; (ii) Bradesco é preferido do Morgan Stanley entre bancos; BB Seguridade fica com destaque negativo; (iii) Braskem: Apollo deixa negociações para compra da companhia, dizem fontes.

The Federal Reserve kicks off its two-day monetary policy meeting today, where they're widely expected to hold interest rates steady. Morgan Stanley's Ellen Zentner discusses. Plus, Instacart is set to begin trading on the Nasdaq this morning following Arm's successful IPO last week. Cleo Capital's Sarah Kunst and SW Retail Advisors' Stacey Widlitz give their expectations. And, Mastercard is out with its Holiday Sales Forecast, estimating retail sales to grow by 3.7%. Mastercard Economics Institute's Michelle Meyer dives into the report.

The voluntary carbon market (VCM) has a total value of over $2 billion, and some predictions show it growing to $10 billion in just a few years.  But the integrity of the carbon offsets available has come under increasing scrutiny in recent years, causing demand to slow and prices to go down. According to a new report from Morgan Stanley the market is approaching a ‘tipping point', as more and more companies hesitate to stake their environmental claims on offsets that may be debunked in the newspaper the next day. If the market does hit a tipping point, what's next? And what does it mean for the companies and governments hoping that “carbon removal” can fill the gap with a more reliable type of offset? Our panel will take a look at implications of the oil company Oxy purchasing Carbon Engineering. Is big oil good for DAC?  Whether or not oil and gas should be involved in carbon removal is healthy debate within the CDR community, and this announcement made headlines in the broader environmental media too.  Listen to hear what our policy panel, Holly Buck and Wil Burns, think about this news and its aftermath.  On This Episode Radhika Moolgavkar Wil Burns Holly Jean Buck Resources Size of VCMs Article on “Tipping Point” report West et al. Paper on Carbon Offsets Liberia + Dubai Offset Deal Oxy buys Carbon Engineering NOAA Awards Connect with Nori Nori Nori's Twitter Nori's other podcast Reversing Climate Change Nori's CDR meme twitter account --- Send in a voice message: https://podcasters.spotify.com/pod/show/carbonremovalnewsroom/message Support this podcast: https://podcasters.spotify.com/pod/show/carbonremovalnewsroom/support

The transition of ownership within a firm can be a challenging process for both clients and advisors alike. It's at this point where the delicate balance of trust, transparency, and open communication becomes so important. While a change in ownership or leadership can stir feelings of uncertainty and concern, advisors who have established trust and transparency with their clients are better equipped to handle these changes. In this episode, Steve talks with Matthew Delaney, Managing Partner at JDH Wealth Management. His passion is working with people and helping them get their arms around their financial world. Having left Smith Barney (now Morgan Stanley) in 2005, Matt brought his knowledge of big-box financial advising to the boutique firm of JDH Wealth. His firm is now close to $400 million in collective assets. A second-generation financial advisor, Matt talks with Steve about navigating the big changes in transitioning and owning an advisory business. He shares his insights on what he learned that works and doesn't work when going through an ownership change. Matt also discusses the importance of transparency and open communication in client relationships during the transition process and the value of being involved in all aspects of the business.   Key Takeaways [01:54] - How JDH Wealth Management was founded. [06:01] - The lessons Matt learned from his experience working in the brokerage industry. [10:29] - An overview of the team at JDH Wealth Management. [11:33] - The client profile that is best suited for JDH's services. [12:40] - The process of changing ownership for JDH. [17:50] - What worked and what didn't when Matt took over JDH. [21:57] - The challenges related to the process of transitioning advisors. [25:25] - The mindset of staying involved and trusting the process of others. [30:52] - How Matt handles difficult clients. [37:26] - What motivates Matt to feel enthusiastic about the work he does for his clients?   Quotes [08:55] - "I've told advisors on the broker side that it's not that clients mind paying fees. The problem is that they're often hidden." ~ Matthew Delaney [25:52] - "It's so important for advisors to have a sense of what goes on day-to-day and behind the scenes and be close to the details that are the backbone of our business." ~ Matthew Delaney [31:21] - "Over the years, I've gotten better at recognizing that life is too short to work with people you don't want to work with or don't let you do your job." ~ Matthew Delaney   Links  Matthew Delaney on LinkedIn JDH Wealth Management Adam Birenbaum Your Retirement Bodyguard   Connect with our host Steve on LinkedIn Buckingham Strategic Partners   Subscribe and stay in touch Apple Podcasts Spotify Steve on LinkedIn Follow Buckingham Strategic Partners  onTwitter   Disclosure For informational and educational purposes only and should not be construed as specific investment, accounting, legal, or tax advice. Certain information is based upon third party data which may become outdated or otherwise superseded without notice. Third party information is deemed to be reliable, but its accuracy and completeness cannot be guaranteed. Some analysis presented is based off current economic information and may become outdated or irrelevant without notice. Individuals should speak with their qualified financial professional based on his or her unique circumstances. Neither the Securities and Exchange Commission (SEC) nor any other federal or state agency have approved, determined the accuracy, or confirmed the adequacy of this podcast. © 2022 Buckingham Wealth Partners, LLC. Buckingham Strategic Wealth, LLC and Buckingham Strategic Partners, LLC (collectively, Buckingham Wealth Partners)

Raymond is a seasoned independent financial advisor with over 20 years of comprehensive experience and cross-cultural background. He provides customized financial solutions to help high-net-worth clients. During the 2008 financial crisis, his clients had no exposure to subprime products.Raymond is the award winner of Advisor / Council by Fidelity & Municipal Bonds Council by Eaton Vance Group.Raymond used to work for Morgan Stanley and Merrill Lynch. He has won various awards, such as Best Career 2008 & 2010.Raymond loves his community and served two terms as a director on a volunteer basis through elections for the Gwynedale Residents Association.After coming to the USA, Raymond attended the Financial professional program at Wharton Business School, and he is one of the top students in the class. Raymond graduated from a top business school: the University of International Business & Economics in Beijing, China, he was a dean's list honor winner.Currently, Raymond holds investment licenses series 6, 7, 31, 63 & 65 and various life insurance licenses and real estate agent licenses in PA & NY.Raymond speaks: English & Mandarin.Raymond's hobbies after work: are walking, Swimming, Golf, Music and reading.Learn more:http://www.gwmgwm.com/Influential Entrepreneurs with Mike Saundershttps://businessinnovatorsradio.com/influential-entrepreneurs-with-mike-saunders/Source: https://businessinnovatorsradio.com/interview-with-raymond-zong-financial-advisor-founder-of-global-wealth-management

Raymond is a seasoned independent financial advisor with over 20 years of comprehensive experience and cross-cultural background. He provides customized financial solutions to help high-net-worth clients. During the 2008 financial crisis, his clients had no exposure to subprime products.Raymond is the award winner of Advisor / Council by Fidelity & Municipal Bonds Council by Eaton Vance Group.Raymond used to work for Morgan Stanley and Merrill Lynch. He has won various awards, such as Best Career 2008 & 2010.Raymond loves his community and served two terms as a director on a volunteer basis through elections for the Gwynedale Residents Association.After coming to the USA, Raymond attended the Financial professional program at Wharton Business School, and he is one of the top students in the class. Raymond graduated from a top business school: the University of International Business & Economics in Beijing, China, he was a dean's list honor winner.Currently, Raymond holds investment licenses series 6, 7, 31, 63 & 65 and various life insurance licenses and real estate agent licenses in PA & NY.Raymond speaks: English & Mandarin.Raymond's hobbies after work: are walking, Swimming, Golf, Music and reading.Learn more:http://www.gwmgwm.com/Influential Entrepreneurs with Mike Saundershttps://businessinnovatorsradio.com/influential-entrepreneurs-with-mike-saunders/Source: https://businessinnovatorsradio.com/interview-with-raymond-zong-financial-advisor-founder-of-global-wealth-management

On this episode of Dads with Daughters, host Christopher Lewis invites entrepreneur and author Peter Shankman to discuss their experiences as fathers raising daughters. They start off by sharing relatable stories about dealing with slime during the pandemic and the challenges of explaining divorce to their young daughters. Peter emphasizes the importance of being present for his daughter and finding balance in his life through managing his ADHD. Peter shares his personal journey with ADHD, discovering it as an adult and developing coping mechanisms to navigate the condition. He believes that medication is not always necessary for success and suggests exploring alternative coping mechanisms. As the author of "The Boy with the Faster Brain," he aims to help kids with ADHD feel less misunderstood and prevent them from experiencing shame in the long run. The conversation also delves into the concept of neurodiversity and the beauty of thinking differently. They discuss the importance of understanding and embracing neurodiverse needs, highlighting what children are good at, and finding ways for them to have fun while learning. The episode concludes with a heartwarming story about a spontaneous trip to a water park that the speaker and his daughter will cherish forever. Join Christopher Lewis and his guests for inspiring conversations and practical advice on raising strong, independent daughters every week on Dads with Daughters. If you've enjoyed today's episode of the Dads With Daughters podcast, we invite you to check out the Fatherhood Insider. The Fatherhood Insider is the essential resource for any dad that wants to be the best dad that he can be. We know that no child comes with an instruction manual, and most are figuring it out as they go along. The Fatherhood Insider is full of valuable resources and information that will up your game on fatherhood. Through our extensive course library, interactive forum, step-by-step roadmaps, and more you will engage and learn with experts but more importantly with dads like you. So check it out today!   TRANSCRIPT Christopher Lewis [00:00:06]: Welcome to dads with daughters. In this show, we spotlight dads resources and more to help you be the best dad you can be. Christopher Lewis [00:00:17]: Hey everyone, this is Chris. And welcome back to the Dads with Daughters podcast, where we bring you guests to be active participants in your daughters lives, raising them to be strong, independent women. Really excited to be back with you again this week. As always, we're on a journey together in looking at ways in which we can best raise our daughters to be those strong, independent women that we want them to be and to be able to be successful in their own journeys as individuals. And every week I have the pleasure of being able to bring you different dads that are doing it different ways, dads that you can learn from and be able to get different ideas from, different experiences from, because every father fathers in a little bit different way. And that's great because we don't have to be the same type of dads, but we can learn from each other and be better fathers in the end. And that's what this show is all about. Today. We got a great guest with us. Peter Shankman is with us. And Peter is a I'm just going to say he's a multi entrepreneur. He has done many different things in his career that has led him down the pipeline of being very successful in what he does. But most recently, he has become a author, a kids author, I'm going to say, because he has a brand new book called The Boy with the Faster Brain. And it's a little bit of, I'm going to say a little biographical in a way, in the sense of talking about his own experience and finding out that he had ADHD and what that journey was like for him. But also it's a book to allow for other kids and parents to be able to explore that in a little bit different way. So we're going to be talking about that as well. He also is a father of a daughter. He has a ten year old daughter and we'll be talking about that as well. Peter, thanks so much for being here today. Peter Shankman [00:02:07]: My pleasure. My dog obviously says hello as well. Christopher Lewis [00:02:10]: Well, I love being able to talk to different dads, and what I would love to do first and foremost is turn the clock back in time. I said you have a ten year old daughter, so I want to go back to that first moment, that first moment when you found out that you were going to be a father to a daughter. What was going through your head? Peter Shankman [00:02:26]: It's actually a really funny story. When I first found out, when my wife called me, most dads, they find out they're going to be a dad in some special way, the wife does something sweet, they put a little onesie inside the dinner table or something. I'm coming back from a meeting in Washington, DC. I'm on the Metro, heading over to Union Station to get an Amtrak back to New York, and my phone rings, and I see it's my wife, and I'm like, hey, honey, what's up? Because I'm pregnant. Okay, well, I turn around to, like, the 14 guys on the subway. I'm like, should I get them cigars? How does this work? So, yeah, that was how I found out in that amazing and overwhelming way. And of course, when we found out it was a girl, I was sitting in her my wife's office. She was at work. She's like, they're going to call us soon. I'm sitting there, I wanted a girl. I don't know why, but I wanted a girl. And so I was really excited. I was going to be this great girl dad, and I like to think I've kind of lived up to that. We have a lot of fun. She is a daredevil to an extent. Like, her dad haven't taken her Skydiving yet, but I know that's on the I'm sure that's on the list the second she and is 18. Christopher Lewis [00:03:20]: So one of the things that I hear from a lot of dads is that in becoming a father, there's fears, but there's also some fear going into raising daughters. And I guess for you, what was your biggest fear in raising a daughter. Peter Shankman [00:03:34]: Who'S going to be like me? I think there's a ton of fear, but my fears weren't the norm. I didn't have that whole, oh, I'm going to get a shotgun, and she can't date. That's not my thing. I wanted to get hurt. The only way you learn is if you get hurt, right? At least in my experience. My fear is that she was going to be she's a very sensitive kid. She cares about everything. We live in New York City, homeless capital of the world. I live two blocks west of Times Square, and so when COVID hit, it just decimated our area because all the homeless population in New York City was moved into a five block radius around my apartment because all the hotels here were turned into homeless facilities, which is fine, but they weren't made into homeless facilities with services. They were just made into places for people to stay. And that was a huge problem because you can't take 9000 people, put them in a five block radius and not give them services. And so it was tough. I had her explain to my daughter at age seven, the, no, honey, he's not dead. The needle sticking out of his arm means he has a problem, but he's getting help. It was tough. So she's very sensitive, and she cares that she wants to solve the world's problems. And sometimes, as much of a bitch as it is, you need to explain, honey, you can't solve all the world. Not all the world's problems can be solved at this moment. On the walk to the corner store and we've had countless talks about that, about what we can do to help homelessness. So we volunteer and we work at a soup kitchen. We're on the Hell's Kitchen litter brigade, and we built a dog park in an empty space overlooking Port Authority under the bus bridges. That this empty area. So we do things. But I call her Warrior Princess, and I love that she's as sensitive as she is. She will change the world, but I want her to live her life and not have to solve every single problem that the world throws at her. There has to be a middle ground there because unfortunately, she definitely got my sensitivity. Christopher Lewis [00:05:21]: I mentioned you've got your hands in a lot of different things. You've had that for many years and you have been a multi entrepreneur in many different ways and been successful in many different ways, but you have been busy. So talk to me about balance and how you have been able to balance being that serial entrepreneur as well as being able to be present and engaged with your daughter as you've raised her. Peter Shankman [00:05:51]: So my balance for me comes from my ADHD. There are certain things I have to do in my life to make sure that I can live the life I want in the way I want it and be the dad I want, I think, for lack of better word. So what does that mean? My day starts around 430 every morning with exercise. If I am not exercise, I am not the best person I could be. And so for me, I was up at 430 this morning. I was on the peloton. I got my couple of hours in. That's my definition of balance because I'm on that bike before she wakes up. And so when I get off the bike, I take a shower, I wake her up and I'm present. Right. The dopamine, the serotonin, the adrenaline that I receive from that ride gives me that balance, lets me be the best dad I could be, the best person I could be, the best entrepreneur I could be, best parent I could be, the best son I could be, best boyfriend I could be. So it has to start with that. From there, there are other things I'm able to do. I take her on as many business trips as I can. I'm speaking in January, I just landed the confirmation yesterday. I'm speaking in Greece at a keynote in January. And part of the contract, they have to fly me and my daughter out. So Florida school for a few days, we're going to Greece, things like that. So last summer we went to Michigan. I had to give a keynote at McIntyre Island. We spent an extra couple of days trips and around the island and Michigan, things like that. So for me it's sort of figuring out how to do that and where to go and what to do and making sure that as busy as I am, she's included and understands it. She doesn't just see me at a computer doing busy work. She understands. Today daddy's speaking. Tomorrow daddy's going on TV. Everything makes sense. It's a circle. Christopher Lewis [00:07:25]: So being a father is not always an easy thing. There are highs, there are lows, there are ups and downs. I mean, it's a roller coaster of a ride at times. What's been the hardest part for you as a father to a daughter? Peter Shankman [00:07:39]: Wiping slime off every conceivable surface in my house. We discovered slime during the pandemic, and it doesn't fucking end. It just never ends. There's always more slime to be made. But no, if that was the worst thing, I'd be thrilled. I think the hardest thing. I've had to answer the question several times, why aren't you and Mommy married anymore? We get divorced when she was three, and so for the first couple of years, anytime I did anything that didn't involve her, there was jealousy and there was a fear that I was going to leave, when in fact, nothing could be obviously further from the truth. I'm constantly here. It's gotten easier. So I think that the hardest thing for me as a girl. Dad hasn't really hit yet. I think it's going to come as she gets older. There have been a couple of times where I've seen her. Her teachers have told me that, yeah, she's very active, she has tons of friends, but sometimes she just prefers to sit by herself at the playground and read or make her own games up. And that doesn't really bother me so much because I was a loner, too. There's a big difference between being alone and being lonely, and I think she understands that already. That's the case. She's doing better than me. At the end of the day, I think the goal is I just want her to be happy, and I know that's going to come with some sadness, but I'm okay with that because you have to have that balance. Christopher Lewis [00:08:49]: You talked about that you try to make memories with your daughter that probably at age 18, you're going to be taking her Skydiving. There's been other experiences. What's been the most memorable experience that you and your daughter have been able to share together? Peter Shankman [00:09:01]: Here's a classic ADHD moment. Last summer in late July, early August, we were bored one night, and I tell her, she's not allowed to be bored. Even the inside of your mind goes on forever. It's endless. You cannot be bored. There's always something to do. So she's like, Daddy, I have nothing to do. I'm like, all right, let's search something. Let's look something up online. What do you want to look up online? Let's look up the biggest water slides in the world. Great. So we sit down in front of the computer and we start looking up the biggest lives of the world. And would you believe one of the top ten water parks in the world is in Tenerife. So I'm like, would you believe one of the largest water parks in the world is in this small little island to African called Tenerife? We should go there. She didn't say that, I did. And so I look at her calendar, I'm like, yeah, you have like, three more weeks of summer camp, and you have like, ten days between summer camp. Yeah. Let's go to tenerife. And so we booked a flight like that night, right? And I pity god, I pity whoever this kid marries. This kid, god, this kid better be rich, because it's not even about money for me. I just have billions of miles because of how much I travel for work. But yeah, she's going to want to go somewhere. She better make no, actually, screw that. She better make a lot of money. She better be able to do this because the funniest line she ever said to me was once she goes, how come Mommy, when Mommy and I get on a plane, when Daddy and I going to play me sit in the front, and when Mommy and I get on, play me sit the back? I don't know. You have to talk to mom about that. I can't really sorry escape and avoid that one. But no, what it comes down to is that ADHD brain kicks in. We went Tenerife, spent four days sliding down these amazing waters. I had a blast. And it was just this, what a wonderful way to end fourth grade or end third grade, fourth grade. And those are the kind of things that I want her to remember for the rest of her life. And I want to do with her these just random, spur of the moment, let's go somewhere and have fun trips. There are times for the other side of the coin, too. Her mom is taking her to Paris at the end of August, and they've been planning this for over a year and a half, and I think it's wonderful, right? They have their schedule. They know exactly what they're going to do every day. They're going to do this this day and this, this day and sit here. That's great. And I love that. And there's definitely a place in the world for that. My idea of travel is, okay, we're here, let's figure it out, right? And so if she has the best of both those worlds, I think that's amazing. Christopher Lewis [00:11:09]: Now, I mentioned at the beginning of the show that one of the reasons that we're talking today is you've got a brand new book, and this isn't your first book, but it is your first children's book that you have written called The Boy With the Faster Brain. And you've talked about ADHD in the past, but more on the business side of things. And you also have had a number of other books out there in talking about business customer service and influencing and things like that. Talk to me about the genesis of this new book and what made you decide that you wanted to move into writing a book for kids. Peter Shankman [00:11:48]: I wrote this book because I don't want any kid to have to grow up feeling as broken as I felt. I had a pretty rough childhood, and that doesn't mean I grew up in a van down by the river. It doesn't mean that my parents weren't totally supportive. They were. My problem was that I grew up in New York City, in the public school system, in the where ADHD didn't exist. What existed was, sit down, you're disrupting the class disease. And I had that very, very bad. And so every day, every single day, I would come home with a note from the teachers about the fact that I was disruptive, that I couldn't sit still, that I was causing trouble for the other students, that I was being a disruptive influence. The irony, of course, is that I was being disruptive because every time I felt like I couldn't focus, I would crack a joke. And what winds up happening when you crack a joke is the class laughs and you get a dopamine hit, which would allow me to focus. So, ironically, I was getting in trouble because I was trying to focus, but I wasn't told, hey, your brain thinks different. Your brain is different. Let's figure out better ways for you. I wasn't told that. I was told you're being difficult and there's something wrong with you. And when you spend the first 18 years of your life hearing that, you spend the next 30 trying to unlearn the fact that you're broke. If I can help kids who are five, six, seven years old today learn at that age that they're not broken, that they're gifted, then they won't have to spend the next 30 years of their lives in therapy like I had. And they're not going to assume that every good thing that they do is actually just a fluke and they haven't had any of their true success at all. Waffles. Shut up. They won't assume they've had any real success in their life at all. I assume that everything I've done every day today is the day that The New York Times writes a story about what a fraud I am. And every day when they don't do it, it's obviously because I'm not important enough for The New York Times to write a story. This goes on every single day. So if I can help a child understand that having a different brain is actually a good thing, and I can stop them from going down the shame spiral for the next 30 years, then it's worth every single thing. And it was a fun book to write in typically ADHD fashion. I had people from the day I launched faster than normal. I had people say, oh my God, just do a kids book and ADHD. I said, yeah, I should. It took five years to do it, and then I wrote it in 2 hours. And when I wrote it, I found this amazing illustrator out of Brazil and she did all the illustrations, and the book was Live in a Month. And so it's one of those things where I really, really believe that children with neurodiverse brains are going to save us all. Nothing new has ever come from anyone with a normal brain. And that doesn't mean there's not a place in the world for normal brains. There are. But if you want creative, I just gave a talk last month to Morgan Stanley 80,000 employees about neurodiversity because they finally are at the point where they understand that neurodiversity is something that should be celebrated and something that can improve your company and improve your bottom line. So now I'm getting calls from Adobe, from Google to go in and talk about this stuff. And that's my goal, is to help expand that conversation. Companies are finally spending more on mental health. I'm speaking to schools all about this, and the boy with the faster brain, like I said, was really written for those kids. I remember I spoke to a school in Wayne, New Jersey, a couple of months ago, and this kid comes up to me the end of the talk, and I'm going to cry because I can't talk about this crying. Kid comes up to me fifth grader, his eyes were down the entire time, sitting on the floor. He wasn't really looking. And he comes up to me, the end, his eyes are still down. He goes, I just want to thank you have never read a book about someone like me before. And I just gave him like the biggest hug. That's what I want to do. And if this book does that even in slightest, then I have succeeded beyond my wildest dreams. Christopher Lewis [00:15:13]: You talk about the importance of everyone understanding neurodiversity more and how not only impacts us as parents, but how it impacts the child. What are some of the biggest let's just say, what are some of the things that people don't understand the most when it comes to neurodiversity? And what do parents need to understand if they believe that their own child is neurodiverse and they want to be able to support them better? Peter Shankman [00:15:42]: Well, the first one is most definitely that your child is not broken, your child's gifted. The premise of children with neurodiverse needs special help. Just to be normal is bullshit. You're not normal. That's the beauty of it. That's what I want, right? You want to not be normal. You want to be thinking differently. You want to have this fun. So that right there is the very first answer. And so I would take it a step further and say that, yes, when you're told there's something different about your child, your first instinct is to freak out don't learn as much as you can. Talk to more than one doctor. It's like buying a house. You don't just go visit one house. Talk to more than one doctor because you might have a misunderstanding of what neurodiversity is. Again, when I was growing up, it was sit down and disrupt in the class, and so you felt like everything you were doing was wrong, when in fact, I was reading on a college level from first grade because I loved it so much, right? It was the stuff that I was bad at, the stuff I didn't love so much that I was bad at that I couldn't math, science, things that I just couldn't grasp. So it's all about figuring out what the kid is good at and highlighting those things, really enjoying those things, letting the kids have fun with the things that are most important to them. Look, I'm not anti medication. I think in some instances, I have a prescription for Concerta. I think I took last time I took a pill was about five weeks ago, six weeks ago. I just rarely take it. I take it on days when my assistant says, if you don't get these five expense reports into me today, and we get them to the client, you're not getting paid. She goes, Take your damn pill and do it. So be it. But most of the time for me, I am able to use other ways to focus and other ways to get that dope meaning. So work with your kid and understand there are different ways and different things they can do to learn about themselves, and they're not broken. This is not a death sentence. It's not a curse, nothing like that. CHristopher Lewis [00:17:26]: I have to agree with you there, because I found out also as an adult that I had ADHD. And people in my life have probably always known they've always known that I had that in my life. The way that I thought, the way that I did things, the way that I balanced many other things. But just like you, I tried medication, found it, didn't really do what I needed it to do. And I've built a lot of coping mechanisms throughout the years to be able to deal with it. Now, if I talk to my partner in my life, I think she would probably tell you that there are still some times where she probably thinks that I probably should be on some meds to be able to calm things down. But she understands, and we learned together that I had this in my life as well. And at least one of my daughters I know has it as well, and she does not want medication either. And we've talked about coping mechanisms and things that they can do to be able to be successful in that regard. And I think that for parents, it's good to understand that your child does not have to be on medication to be able to be successful. In some cases, you might need that, but it doesn't mean that you have to do that. And that doesn't have to be just because that you have a diagnosis doesn't mean the first step means medication. Peter Shankman [00:18:47]: And that's the thing, I think, that a lot of parents don't understand, is that medication doesn't need to be a first line of defense. It could be a last resort. It can be combined. It should be combined. Pills don't teach skills. Right. If you're out there taking medication every day, there's tons of stories about kids who get on meds when they're five years old. They're on meds, so they're 25. Then they're kicked off their parents insurance, and they can't afford it. Now. What? They've learned nothing. Right? So now all of you don't have the crutch of medication. Now what do you do? So, yeah, there's a lot of things that can be done in addition to medication. Dialectical Behavioral Therapy. CBT, DBT, regular therapist. And I've been going to the same therapist now for over 20 years. The guy's amazing. He looks like Einstein. He has a social acuity. He is the technological acuity of a turnip. But he saved my life more than once. So those are the things that you need to understand, is that medication is just one arrow in the quiver of everything you're doing. Christopher Lewis [00:19:37]: Peter, I think you made this clear, but I want to hit home the point that for you, as you share this book out into the world, you get it in front of different audiences, you get it into local libraries, you get it into those local bookstores. You get it in front of the PTAs and teachers. What's the biggest takeaway that you want for parents and kids in reading this and leaving at the end of the book? Peter Shankman [00:20:03]: Different kids learn differently. You can't sit 35 kids in a classroom and expect them all to be automatrons and do the exact same thing. That's what happened to me. And it starts off with, you sit wherever you want, and then a couple of weeks later, they notice you getting distracted. They move you to the front of the room. Well, now when you get distracted, it's a lot easier for the teachers to see that you're getting distracted now. You get in more trouble quicker. What they should do is they should push in the back of the room, and they should say, okay, you know what? I get the way you are. If you need to stand up or walk outside, do a couple of jumping jacks, whatever, do some deep knee squats, whatever, come back in with a little bit more dopamine, feel free. Those are the kind of things that I'm seeing now in some schools. It's wonderful. We also all grew up with the premise of sit down in the morning, watch your cartoons while eating two bowls of chocolate frosted sugar bombs, then get driven to school. How about we take a 30 minutes walk, then give a kids a couple of eggs and some protein and a big glass of water, and then send them to school? So different things. They tried that in Texas. They replaced 20 minutes of recess with an hour every day, and they replaced breakfast and lunch that were mostly carbs and sugars with proteins and good fats. And they saw something like a 19% decrease in outbursts from ADHD, outbursts from boys, and a I think it was like a 29% increase in girls participating in class because girls present ADHD differently than boys do. And so that's massive. That's massive. Did nothing else. But they gave them more exercise, and they changed the food. So you look at things like that, you're like, wow. Christopher Lewis [00:21:26]: Peter, we always finish our interviews with what I like to call our Fatherhood Five, where I ask you five more questions to delve deeper into you as a dad. Are you ready? Peter Shankman [00:21:33]: Go for it. Christopher Lewis [00:21:34]: In one word, what is fatherhood? Peter Shankman [00:21:37]: That I've walked the face of this earth? Christopher Lewis [00:21:39]: When was the time that you finally felt like you succeeded at being a father to a daughter? Peter Shankman [00:21:43]: When I picked up my daughter from school earlier this year. One day, I picked her up almost every day, and I picked her up, and the teacher came over to me, said, no big deal. Just want to let you know that Jessa and a boy got into a little argument, and Jesse used a curse word when talking to him. I said, well, what'd she say? He goes, she called him an asshole. And I know that she totally got that from me, because we're on our scooter. We go on our scooter every day to school, and you try scooting in Manhattan, you're going to call someone asshole on every trip. It's just what it is. And so he goes, she called him an asshole. I go, we fucking deserved it, right? And the teacher just cracked up. That was when I knew I was a good parent. That's what I knew. I was a great dad parent. Christopher Lewis [00:22:28]: Now, if I was to talk to your daughter, how would she describe you as a dad? Peter Shankman [00:22:32]: Dad is crazy. Dad makes me laugh. Dad is a skydiver. And dad goes on TV a lot, and he loves me very much. Christopher Lewis [00:22:41]: Who inspires you to be a better dad? Peter Shankman [00:22:43]: My father. Without question. My father. And then I think my daughter as crazy as it sounds. Because when I had sort of my awakening in 2016, when I realized everything, this is when I realized about my ADHD, when I wrote the first book on ADHD, everything. In 2016, I caught my awakening year. I realized that the only people whose opinions really matter to me are my daughter, my parents, my girlfriend. That's it. And I stopped caring what other people thought. And that was just this incredible, incredible level of freedom. And so. Yeah. I'd say my daughter inspires me because I want to do the best job I can for her, because she's who matters. Christopher Lewis [00:23:19]: You've given a lot of piece of advice today as we finish up today, what's one piece of advice that you'd like to give to every dad? Peter Shankman [00:23:27]: I think there comes a point when we realize that we feel like we're trapped, right? Oh, I have a kid. I'd love to be living in Asia right now. There's no question about it, right? Especially with what's happened to America in the past, like, five years. I'd love to be gone. I'd love to be in Asia. I love Asia, for I could live like a goddamn king on one 10th the amount of money it cost me to live in New York. And I could live 20 times better if I was in South Vietnam or something, right know? But you can, right? But the one thing you can control is the people you associate with. And one of the greatest quotes I ever heard ever came from an old skydiver friend of mine. And you want to listen to old Skydiver because if they're still alive, if Skydiver 40 years, they've done something, right? And this guy said to me goes, I was complaining about how the people who I live in the city with don't understand why I go up to the Skydive every weekend. The people who I Skydive with don't understand why I want to come home every weekend. You know, come home because I like things like hot water, and I go up to the drop zones. I like jumping. I was kind of surfing that duality, right, where both things were different. And this old guy looks at me and goes, you know, if you can't change the people around you, change the people around you blew my mind. I'm like, that's the best piece of advice ever gotten. And it goes back to what I said earlier. Life's too short to surround yourself with annoying people. So the best piece of advice if you can't change the people around you, find better people. Christopher Lewis [00:24:35]: Peter, if people want to find out more about you, about the book, about your other books, where's the best place. Peter Shankman [00:24:41]: For them to go? My entire life is@shankman.com my email is peter@shankman.com. All my books are on Amazon. They're everywhere. And then I'm at Peter Shankman on all the socials except Twitter. I quit Twitter because I just cannot take what has become. But other than that, I'm at Peter Shankman everywhere else. I'm pretty big on Instagram, so, yeah, feel free to follow me anywhere you'd like. Christopher Lewis [00:24:58]: Well, Peter, I just want to say thank you. Thank you for sharing your story. Thank you for writing this book for kids like you and other kids that, as you said, may have been not seeing people like themselves in books. And I wish you all the best. Peter Shankman [00:25:15]: Pleasure was mine. Great to be here. Christopher Lewis [00:25:17]: We know that no child comes with an instruction manual, and most dads are figuring it out as they go along. And the Fatherhood Insider is full of resources and information that will up your game on Fatherhood. Through our extensive course, library, interactive forum, step by step, roadmaps and more, you will engage and learn with experts, but more importantly, dads like you. So check it out@fatheringtogether.org. If you are a father of a daughter and have not yet joined the Dadswithdaughters Facebook community, there's a link in the notes. Today dads withdaughters is a program of Fathering together. Find out more@fatheringtogether.org. We look forward to having you back for another great guest next week, all geared to helping you raise strong, empowered daughters and be the best dad that you can be. Christopher Lewis [00:26:06]: We're all in the same boat and it's full of tiny screaming passengers. We spend the time we give the lessons we make the meals we buy them present bring your AC because those kids are growing fast. The time goes by just like a dynamite calling astronauts and firemen carpenters and muscle men get out and be the one to them be the best that you can be be the best that you can be you close.

While the ECB followed headline inflation with raised policy rates yet again last week, the Fed meeting this week may be more focused on core inflation and a hiking pause.----- Transcript -----Welcome to Thoughts on the Market. I'm Seth Carpenter, Global Chief Economist for Morgan Stanley. Along with my colleagues, bringing you a variety of perspectives, today I'll be talking about the debate around oil price effects on inflation and growth, and what it means for central banks. It's Monday, September 18th at 10 a.m. in New York. Last week, the European Central Bank raised its policy rate again. We had expected them to leave rates unchanged, but President Lagarde reiterated that inflation is too high and that the Governing Council is committed to returning inflation to target. She specifically referenced oil among rising commodity prices that pose an upside risk to inflation. From the summer lows of around $70 per barrel, the price of Brent oil has risen to over $93 a barrel. How much should oil prices figure in to the macro debate? In previous research our economics team has tried to quantify the pass through of oil prices to inflation and different economies. Our takeaway is that for developed market economies, the pass through from oil prices to even headline inflation tends to be modest on average. In the quarter, following a 10% increase in oil prices, headline inflation rises about 20 basis points on average. For the euro area in particular, we have estimated that an increase like we have seen of $20 a barrel should result in about a 50 basis point increase in headline inflation. For core inflation the pass through tends to be less, about 35 basis points. Especially given the starting point though, such a rise is not negligible, but the effect should fade over time. Either the price of oil will retreat or over the next year the base effects will fall out. But energy prices can also affect spending. Recent research from the Fed estimates the effects of oil prices on consumption and GDP across countries. They estimate that a 10% increase in oil prices depresses consumption spending in the euro area by about 23 basis points. What's the mechanism through which oil price shocks affect consumption? Consumer demand for energy tends to be somewhat inelastic. That is, it's harder to substitute away from buying energy than other categories of spending. So back to the ECB, we had not expected them to hike rates, but we did think it was a close call. Core inflation had started to come down, and when it became clear that core services inflation that peaked and was drifting lower against a backdrop of signs pointing to a weaker euro area economy, we revised our call to no hike. So from our perspective, the ECB has increased the risk of hiking perhaps too much based on headline inflation. The ECB statement last week noted that inflation "is still expected to remain high for too long", but because it seems that they are now done hiking, the debate is going to turn to the duration of this so-called "higher for longer" with the policy rate. With the effects of inflation passing over time, but the drag of GDP showing up over the next few quarters, we get more comfortable expecting rate cuts there as early as June next year. The Fed is meeting this week and the last US CPI print showed headline inflation boosted by higher gasoline prices. Sound familiar? Well, our colleagues in the U.S. team have stressed that the Fed will likely look through the non core inflation. And, as in Europe, the increases in oil prices should lower purchasing power for consumers in the near term, further limiting economic activity and that is part of the objective of higher policy rates right now. With the Fed's focus on core rather than headline inflation, the last data print gives more reason to think the Fed is done hiking. Taking the last CPI print and combining it with last week's data from the Producer Price Index, you can infer a monthly rate of 0.14% for core PCE inflation in August. When the Federal Open Market Committee revisits its June economic projections, they will essentially be forced to revise down their forecasts for core inflation for this year. Thanks for listening and if you enjoy the show, please leave us a review on Apple Podcasts and share Thoughts on the Market with a friend or colleague today.

 My guest today is Shahzad Younas, who is the founder of Muzz, which you would absolutely know about if you are a Muslim - you would know nothing about if you are not - it is the world's largest Muslim dating site - if dating is the right word to use. He used to be an investment banker and then realised this is not what he wanted to do with this life, and what a journey! If you know the story of how business works in the background for some of those things you end up having in your hand, it would blow you away. So excited to have a conversation about, not only how he ended up here but why he ended up here, and you know, how different some of our cultures are when it comes to love, dating and romance. Shahzad Younas (London, UK) is the founder and CEO of Muzz (formerly muzmatch). Previously a Vice President in Equity Portfolio Trading at investment bank Morgan Stanley for 9 years, Shahzad quit his career to fully focus on building a high-quality mobile app to help Muslims around the world find their perfect marriage partner.Backed with a total of $9M investment (Seed and Series A) from a range of Silicon Valley and global investors, headquartered in Aldgate, London, and boasting a fast-growing 65+ strong global team, Muzz (formerly muzmatch) is transforming how Muslims meet and marry.Listen as we discuss: 02:00 - Muslims don't date they marry! 06:30 - The gamification of dating apps 09:30 - Finding Love 16:00 - The process of choice 19:00 - Sex education 21:30 - Where's the romance? 25:30 - Looking for the one 27:30 - What does the science say? 31:30 - When things go wrong 35:00 - Leave her in kindness 36:00 - Treat others as you want to be treated 38:30 - Ethics 40:30 - Do dating app works? 47:00 - AI 49:30 - Solve it for women 56:00 - Working from home 59:00 - Good boys win 01:07:00 - The mechanics of it 01:11:30 - Honestly 01:13:00 - Ghosting Connect with Shahzad Younas on LinkedIn and learn more about his work here.YouTube: @mogawdatofficialInstagram: @mo_gawdatLinkedIn: /in/mogawdatWebsite: mogawdat.comDon't forget to subscribe to Slo Mo for new episodes every Saturday. Only with your help can we reach One Billion Happy #onebillionhappy

What's your favorite Yamim Noraim devar Torah? What's your advice for improving ourselves? What's worked for you? ***Guest Hosted by Ari Wasserman *** Author of "Making it Work", "Making it ALL Work" (for women) and 10 other Seforim, Maggid Shiur, Yerushalayim with Rabbi Immanuel Bernstein – popular teacher and prolific author – 16:57 with Rabbi Dr. Yitzchak Breitowitz – Senior Lecturer at Yeshivas Ohr Somayach – 30:02 with Rabbi Yissocher Frand – Rosh Yeshiva, Ner Yisroel, Baltimore – 40:18 with Rebbetzin Esti Hamilton – popular lecturer and teacher – 51:33 with R' Charlie Harary – management consultant and noted speaker – 1:06:50 with Mrs. Michal Horowitz – popular lecturer and teacher – 1:20:39 with Rabbi Naftali Horowitz – Managing Director at Morgan Stanley – 1:32:36 with Rabbi Aryeh Lebowitz – Mara D'asra of Beis Haknesses, North Woodmere – 1:40:53 with Rabbi Yaakov Neuburger – Rabbi of Congregation Beth Abraham, New Jersey – 1:53:11 with Mrs. Sivan Rahav-Meir - media personality, prolific author and lecturer – 2:02:15 with R' Harry Rothenberg – noted speaker and partner, Rothenberg Law Firm - 2:12:51 with Rebbetzin Feige Twerski – noted teacher and prolific author – 2:22:02 with Rabbi Berel Wein - renowned Rov, author, historian and lecturer – 2:30:16  מראי מקומות  

Guy, Dan, and Danny discuss mixed messages in the market (1:00), where's the recession? (6:00), the best-looking charts in the market, according to Danny (9:30), mega-cap tech stocks not acting well (10:30), Morgan Stanley's Tesla upgrade (14:30), banks (16:30), Danny pounding the table on Genius Sports/Sportradar stocks (25:00), airlines (26:30), Vertu (32:00), Danny's NFL picks (33:00), and Gamestop (33:30) . Later, Danny and Guy sit down with Michael Kao, a private investor at Kao Family Office, to discuss the four horsemen impacting the Fed (40:00), natural gas (45:00), what would trigger oil to sell-off (46:30), China (49:00), global macro headwinds for oil (55:00), Japan (1:00:00), and yields (1:05:00). About the Show: On The Tape is a weekly podcast with CNBC Fast Money's Guy Adami, Dan Nathan and Danny Moses. They're offering takes on the biggest market-moving headlines of the week, trade ideas, in-depth analysis, tips and advice. Each episode, they are joined by prominent Wall Street participants to help viewers make smarter investment decisions. Bear market, bull market, recession, inflation or deflation… we're here to help guide your portfolio into the green. Risk Reversal brings you years of experience from former Wall Street insiders trading stocks to experts in the commodity market. Check out our show notes here Learn more about Ro body: ro.co/tape See what adding futures can do for you at cmegroup.com/onthetape. Shoot us an email at OnTheTape@riskreversal.com with any feedback, suggestions, or questions for us to answer on the pod and follow us @OnTheTapePod. We're on social: Follow Dan Nathan @RiskReversal on Twitter Follow @GuyAdami on Twitter Follow Danny Moses @DMoses34 on Twitter Follow Liz Young @LizYoungStrat on Twitter Follow us on Instagram @RiskReversalMedia Subscribe to our YouTube page

With the global demand of oil reaching a new high, the spillover in performance is changing the fortune for energy equities and oil markets.----- Transcript -----Welcome to Thoughts on the Market. I'm Martijn Rats, Morgan Stanley's Global Commodity Strategist. Along with my colleagues bringing you a variety of perspectives, Today I'll discuss the recent changes in oil markets and why recently we turned bullish on energy equities once again. It's Thursday, September 14th at 2 p.m. in London. Prices of both crude oil and refined product have risen substantially over the last two months. Brent crude oil is trading once again a little over $90 a barrel, up 20% since the middle of the year. Diesel prices have rallied even more, up 50% since the mid year point and recently surpassing the $1,000 per tonne mark again. After a fairly lackluster first half, this begs the question what has brought about this sudden change in fortune. For starters, oil demand is simply robust. In June, global oil demand reached 103 million barrels a day, a new all time high. But on top of that, the recent crude price rally has been supported by strong production cuts from OPEC, particularly Saudi Arabia. In April, Saudi Arabia still exported 7.4 million barrels per day of crude oil. By August, this had fallen to just 5.4 million barrels a day, that is an unusually sharp drop in a very short space time. On a 100 million barrel per day market, that may not look like much, but this is enough to drive the market into deficits, cause inventories to decline and prices to rise. What has given refined product prices, like diesel, a further boost has been tightness in the global refining system. Capacity closures during COVID, logistical difficulties in replacing Russian crude in European refineries and an unexpectedly large number of unplanned outages, partly because of a hot summer, have effectively curtailed refining capacity. Like last year, it has been all hands on deck in global refining this summer. Whether oil prices and refining margins will still rally a lot further is hard to know, but prices seem well underpinned at current levels. As long as Saudi Arabia and the rest of OPEC continue their current oil policy, the oil market is simply tight and the current cuts have all the hallmarks of lasting well into next year. On top, we think it will take some time before the current constraints in refining are resolved. Margins may decline somewhat from their current very elevated levels, but we would expect them to remain high by historical standards for some time to come. Then we would also argue that risks to natural gas prices in Europe are once again skewed higher. Prices have fallen substantially this year, and of course, they could fall somewhat further. However, if some tightness returns, they can rally a lot more, skewing that price outlook higher too. Putting this all together creates a favorable outlook for energy equities and that is where our true conviction lies. At the start of the year, we argued that earnings expectations for the energy sector were high and that market sentiment was already bullish and that valuations were stretched. After two years of rating the sector attractive, we downgraded our sector view back in January. However, pretty much all these factors have changed once again. Consensus earnings forecasts have fallen, but given our commodity outlook, we would now expect upgrades to consensus estimates to start coming through once again, making energy possibly the only sector for which this argument can be made. With strong free cash flow ahead, we expect robust dividend growth, strong share buybacks and declining net debt. Combining that with market sentiment that is no longer so buoyant for energy and valuations that have corrected quite a lot, we think energy is once again an attractive sector. Especially for those seeking high income and protection against inflation, against an uncertain geopolitical backdrop. Thanks for listening. If you enjoyed the show, please leave us a review on Apple Podcasts and share Thoughts on the Market with a friend or colleague today.

Dyllan Brown-Bramble is a NY Biglaw privacy and cybersecurity associate and a Senior Fellow at the Internet Law and Policy Foundry. At his firm, Dyllan maintains an active pro bono practice with a focus on advising low-income entrepreneurs and small businesses. He also serves on the VOLS Pro Bono Advocates Council and the junior board for the Surveillance Technology Oversight Project. While in law school, he was a Tech Law & Policy Scholar, represented clients in the Intellectual Property and Information Policy Clinic, was a research assistant at the Center on Privacy & Technology, and was a teaching assistant for Computer Programming for Lawyers and Legal Communication Design. He also worked as a legal intern at Morgan Stanley and SambaTV and as a fellow at Mount Sinai Innovation Partners and InSITE. Internet Law & Policy Foundry VOLS Pro Bono Advocates Council Surveillance Technology Oversight Project   Emily is available for coaching! Visit Beyondthelegallens.com        

Chuck Zodda and Marc Fandetti react to the release of the August CPI report which showed inflation accelerating over the month. The guys wonder how the Fed will respond at their next meeting. Morgan Stanley says 'Fed has done enough' and can lean into duration. Todd Lutsky stops by for 'Ask Todd'. Who is a revocable trust designed for? Will Massachusetts raise the estate tax exemption? What are the tax implications of being gifted a house?

All the rage - let's test our testosterone - then shave our legs! China has figured it out....How to hurt the USA. Elon - listening in and shutting down? PLUS we are now on Spotify and Amazon Music/Podcasts! Click HERE for Show Notes and Links DHUnplugged is now streaming live - with listener chat. Click on link on the right sidebar. Love the Show? Then how about a Donation? Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter Warm Up -  Big week - Inflation eyed - 10-year near 4.3% - One European country looks the worst - one recession - Biden  - 5-day world tour - Soft landing - everyone talking about it - Oh, Elon Market Update - Not such a great month so far.... - China  starting to panic (that may be good) -- 2 IPOs on Tap - M&A - One food deal announced - Apple .... More China restrictions (interesting) Happy New Year - Rosh Hashana Friday night. Tesla Upgrade - Tesla Inc.'s Dojo supercomputer may add as much as $500 billion to the company's market value through faster adoption of robotaxis and network services, according to Morgan Stanley. - Dojo can open up “new addressable markets,” just like AWS did for Amazon.com Inc., analysts led by Adam Jonas wrote in a note, upgrading the stock to overweight from equal-weight and raising its 12-month price target to a Street-high $400 per share from $250. - Adam Jonas had a $250 price for Tesla for a while and was not really positive on  the shares. But, many say he likes headlines, so this is a perfect way to play it. - Jonas cut his price and overall recommendation  in June - Tesla shares up 10% on this upgrade (BTW, Morgan is one of Elon Musk's key advisory firms - so there is that) China - Freaking out? - China's financial regulator on Sunday reduced the risk weighting it attaches to insurance companies' holdings of blue-chip shares and tech stocks, encouraging them to invest more in the country's lagging stock market. - The National Administration of Financial Regulation (NAFR)said on its website that the risk weighting for CSI300 Index constituents would be reduced to 0.3 from 0.35, while that for stocks listed on Shanghai's tech-focused STAR Market would be cut to 0.4, from 0.45. - A lower risk weighting frees up more capital for insurers to invest. - It also set a relatively low risk weighting for private equity investments in China's strategic and emerging sectors. More China - China's economic slowdown could increase the risk of Beijing taking military action toward Taiwan, the Republican chair of a U.S. congressional committee on China said on Monday, drawing a contrast with Democratic President Joe Biden, who said it made it less likely. - So this has to be a dividing line as well? Biden on Sunday called China's econ Yen - Japan - In a weekend interview, Bank of Japan Governor Kazuo Ueda said the central bank could end its 7-year-old negative interest rate policy when achievement of its 2% inflation target is in sight - suggesting the BOJ is considering official interest rate hikes as well as an early end its bond-buying, yield cap policy. - The comments seemed to catch markets off guard, sending the 10-year Japanese government bond yield up more than 5 basis points to a 9-year high above 0.7%. The yen surged 1% against the dollar, knocking the U.S. currency back more generally on the foreign exchange markets. Tech - Qualcomm said Monday that it will supply Apple with 5G modems for smartphones through 2026. - Wall Street analysts and Qualcomm officials had previously said they expected Apple to use an internally developed 5G modem starting in 2024. - The continued sales to Apple will boost Qualcomm's handsets business, which reported $5.26 billion in sales in the quarter ended in June, and could soften the blow of potentially losing a critical customer. About 21% of Qualcomm's fiscal 2022 revenue of $44.2 billion came from Apple,

Even though mortgage rates are up 100 points since the beginning of 2023, home prices are likely to stay flat or increase due to tight housing supply.----- Transcript -----Jim Egan: Welcome to Thoughts on the Market. I'm Jim Egan, co-head of U.S. Securitized Products Research here at Morgan Stanley. Jay Bacow: And I'm Jay Bacow, the other Co-Head of U.S. Securities Products Research. Jim Egan: And on this episode of the podcast, we'll be discussing U.S. home prices. It's Wednesday, September 13th at 11 a.m. in New York. Jay Bacow: Jim, mortgage rates are up over 100 basis points since the beginning of the year, but I hear you were turning more optimistic on home prices. What gives? Jim Egan: Well, the first thing that I would say is that home price data is pretty lagged and that an increase in mortgage rates is not going to be felt immediately in the data. For instance, let's assume the last week of August ends up being the peak in mortgage rates for this cycle. When would you expect that rate to start showing up in actual purchase mortgages? Jay Bacow: So, if the peak in mortgage rates is the end of August, we will get data on people applying for the mortgage the following week from the Mortgage Bankers Association. But it takes about seven weeks right now to close a mortgage. If the peak was at the end of August, the mortgages are probably closing towards the end of October, almost at Halloween. But if it closes in October, Jim, when will we actually get that data? Jim Egan: Right. The home price data is even more lagged than that. The Case-Shiller prints that we forecast and that we've talked about on this podcast, those come out with a two month delay. So those October sales, we're not going to see until December. Again, for instance, the print we just got at the end of August, that was for home prices in June. Jay Bacow: So in other words, we haven't seen the full impact of this increase in rates yet on the housing market and the data that we can see. But when we do, what's the impact going to be on home prices? Jim Egan: Well, we think the immediate impact is going to be on a few other aspects of the housing market, and then those aspects are going to potentially impact home prices. The most straightforward level here is affordability, right? That's an equation that includes prices, mortgage rates, as well as incomes, and so we're talking about the mortgage rate component. Now, one thing that you and I have said on this podcast before, Jay, is that affordability in the U.S. housing market, it's still challenged, but at least so far this year it really hasn't been getting any worse. That's not the case anymore. Affordability is still very challenged and now it's started to get worse again. By our calculations, the monthly payment on the median priced home is up 18% over the past year, and that's the first time that deterioration has accelerated since October of 2022. Three month and six month changes in affordability have also resumed deteriorating after those were actually improving earlier this year. Jay Bacow: So if homes are getting less affordable, presumably home sales should fall? Jim Egan: We think that would be kind of the probable impact there and it is something that we're seeing. To be clear, affordability is not deteriorating anywhere near as rapidly as it did in 2022, and we don't expect the same sharp declines in home sales. But this really does give us further confidence in our L-shaped forecast, and if anything it could provide a little more pressure on existing home sales. But we're also seeing the impact on the supply side of the equation. Jay Bacow: But wasn't the supply side already incredibly low? For instance, our truly refinanceable index calculates what percent of the universe has at least 25 basis points of incentive to refinance. It's at less than 1% right now. The average outstanding mortgage rate for the agency market is 3.68%. Are we really expecting the supply to fall further? Jim Egan: So that wasn't part of our original forecast and we had been seeing existing inventories really start to climb off of recorded lows. For context, our data there goes back about 40 years, but that's taken an abrupt about face in recent months. The 13% year-over-year decrease in inventory that we just saw this past month, that's the sharpest drop since June 2021, with a contraction coming through both new and existing listings. As affordability has resumed its deterioration with this increase in mortgage rates, homebuilder confidence actually fell month over month for the first time this year. Now, tight supply should continue to provide support to home prices, even as affordability has become more challenged. Jay Bacow: And so what does that support for home prices end up looking like? Jim Egan: The short answer, we expect a return to year-over-year growth with the next print that we're going to get here at the end of September. Case-Shiller year-over-year has actually fallen for each of the past three months. We think that ends now. We have a forecast of plus 0.7% year-over-year with a print that's just about to come out and that would be a new record high. With home prices then surpassing their levels in June of 2022, at least for that index. Our base case forecast for year end has been 0% growth, with our bull case at plus 5%. The evolution of the inputs since particularly the supply point here continues to be tighter than what was already pretty tepid expectations on our part. That has us expecting HPA to finish the year between these two levels, that base case and that bull case level. Jay Bacow: All right, Jim, it's always great talking to you. Jim Egan: Great talking to you, too, Jay. Jay Bacow: And thank you for listening. If you enjoy Thoughts on the Market, please leave us a review on the Apple Podcast app and share the podcast with a friend or colleague today.

What is the perception of financial services? And how can we nurture talent that hasn't always seen a place for themselves in the industry? In this episode, we're joined by Carlos Muñoz, Head of Asset Manager DEI Engagement at Morgan Stanley. He heads The Morgan Stanley Equity Collective, an industry leading group of top firms (including FS Investments) that work together to educate, empower and develop the next generation of diverse leaders in financial services. Carlos sits down with FS Investments' Director of Client Value Add Programs Ginevra Czech and Head of Platform Strategy & Senior Relationship Manager Laurie Durante to discuss the ways we're giving back to our communities and making our industry a more equitable place. 

It was a mixed session for stocks with the S&P 500 and Nasdaq bouncing back from Tuesday's losses. BD8 Capital Partners CIO Barbara Doran and Morgan Stanley's Seth Carpenter break down the market action. Pricing for ARM's IPO is expected to come in above the range; Moor Insights & Strategy CEO Patrick Moorhead on how much growth the company could see in the coming months. Morgan sat down with the Air Force Secretary and Anduril's CEO to talk China and the economic impact of a possible government shutdown. Google Brain Co-Founder Andrew Ng breaks down today's big AI summit in DC as leaders like Elon Musk and Sundar Pichai briefed senators on the industry and possible regulation.

Economic growth data from the summer has bolstered belief in a possible soft landing in the U.S., while China has experienced a faster-than-expected deterioration in the macro environment.----- Transcript -----Welcome to Thoughts on the Market. I am Vishy Tirupattur, Morgan Stanley's Chief Fixed Income Strategist. Along with my colleagues bringing you a variety of perspectives, I'll be talking about our views on the markets as we head into the fall. It's Tuesday, September 12th at 10 a.m. in New York. As many of us head back to school, Morgan Stanley Global economics and strategy teams look back on how the economy and the markets have evolved over the summer and look ahead to what changing narratives mean for the economic outlook and asset markets. Our debate centered on two key issues. One, the outperformance of the U.S. economy and the underperformance of China economy. And two, the recent spike in government bond yields at the longer end of the curve. The U.S. economy has been outperforming our expectations and has led markets over the summer to push out the first expected cut into 2024. The concern is that a still hot economy means that the Fed can keep policy restrictive for longer. Acknowledging the strong incoming data, our economists have revised their 2023 growth expectations significantly higher for the U.S. from 0.4% to 1.7%, even as they maintain that the Fed is done hiking and will be on hold until first quarter of 2024. On the other hand, in China, the trajectory of economic growth has been different. Over the summer, data have been pointing to a faster than expected deterioration in the macro environment. We have seen successive and incremental property and infrastructure easing measures, but market confidence has not returned and debates around earnings, spillover effects on global growth and the impact on commodities are growing. Noting the macro and policy challenges since the mid-year outlook, our China economists have revised their 2023 growth expectations lower for China from 5.7% to 4.7% for 2023. And our emerging market equity strategists have moved to equal weight on China and revise down their MSCI Emerging Market Index target. What about our call to be long duration? Ten year Treasury yields have sold off by about 65 basis points since our mid-year outlook on better than expected U.S. growth data, among other factors. Can this continue? Our strategists make modest changes to their rates forecast, but still see a path for low yields, countering the market narrative of growth reacceleration or a higher treasury supply technical. Thus, we reaffirm our conviction to be long duration, despite the rates market moving away from us. Overall, our conviction on a U.S. soft landing has strengthened. But with monetary policy remaining restrictive, late cycle risks, growth, earnings and defaults remain. We maintain a defensive stance. We prefer bonds over equities and equal-weight stocks, overweight fixed income, underweight commodities, and equal weight cash. Combined with rich valuations, this makes us stay equal-weight equities, with a preference for rest of the world stocks over US stocks. In all, high carry and late cycle environment favor an overweight in fixed income. Thanks for listening. If you enjoy the show, please leave us a review on Apple Podcasts and share Thoughts on the Market with a friend or colleague today.

What are the trends in household staffing salaries and compensation? How much does compensation affect tenure and turnover? Which employees are you most at risk of losing?Botoff Consulting wanted to help answer these questions, and provide data to help families and family offices recruit top private service professionals and retain their best household staff members. In 2022, they surveyed 300 families and family offices in the first compensation study in the family office world solely focused on household staff. The Estate and Household Staff Compensation Report, published by Morgan Stanley and Botoff Consulting, covers 30 positions, including estate managers, housekeepers, private chefs and more. In this episode of the Easemakers Podcast, Botoff Consulting Managing Principal Trish Botoff and Senior Consultant Jennifer Adams share how to interpret the data to make smart decisions around compensation, and dig into key takeaways around overtime, turnover, long-term incentives and more. Tune in to hear why it's important to do regular check-ins with the market, what goes into creating a compensation strategy, where certifications affect compensation in private service, and tips for estate managers advocating for compensation increases for their household staff. Check out the complimentary report and the full report at botoffconsulting.com and follow along with Botoff to be a part of future surveys.Subscribe to the Easemakers Podcast to hear from more experts in the private service industry, and join the Easemakers community to talk to other estate managers and PSPs on a regular basis.  Enjoying the Easemakers Podcast? Leave us a rating and a review telling us about your favorite episodes and what you want to learn next!The Easemakers Podcast is presented by Nines, modern household management software and services built for private service professionals and the households the support.

➤ First look at Tesla's concept for a robotaxi ➤ Morgan Stanley upgrades TSLA stock ➤ New details on FSD 12 ➤ China production for August ➤ Giga press photo ➤ Semi production rumor ➤ Tesla promotional video at baseball game ➤ Calendar Shareloft: https://www.shareloft.com Twitter: https://www.twitter.com/teslapodcast Patreon: https://www.patreon.com/tesladailypodcast Tesla Referral: https://ts.la/robert47283 Executive producer Jeremy Cooke Executive producer Troy Cher asaro Executive producer Andre/Maria Kent Executive producer Jessie Chimni Executive producer Michael Pastrone Executive producer Richard Del Maestro Executive producer John Beans Music by Evan Schaeffer Disclosure: Rob Maurer is long TSLA stock & derivatives

Apple debuts its iPhone at its flagship event in Cupertino. CNBC's annual top Financial Advisors list is out and the #1 advisor joins with his best small cap buys now. Plus, Morgan Stanley's all in on Tesla, but Needham says not so fast. 

In this episode of the podcast, Grizz sits down with Peter Smulovics, Executive Director at Morgan Stanley about.. well, just about everything. We hit his developer journey, metaverse, XR, spatial computing, Big Boost Mondays, autism hackathons, and painting fences. He is currently Executive Director for Windows and .NET develop practices and spatial computing and metaverse development practices at Morgan Stanley, and co-chair for Open Source Readiness ( https://osr.finos.org ) and Emerging Technologies ( https://zenith.finos.org ) at The Linux Foundation / FINOS. He will be speaking at the Open Source in Finance Forum on November 1st in New York: ⁠⁠⁠https://sched.co/1PzH7⁠ ⁠⁠⁠⁠⁠⁠⁠ Peter Smulovics LinkedIn: ⁠https://www.linkedin.com/in/smulovicspeter/ FSI Hack for Autism - 2023: https://fsi-hack4autism.github.io/ Zenith Emerging Technologies: https://zenith.finos.org/ Open Source Readiness: https://osr.finos.org/ NYC November 1 - Open Source in Finance Forum: ⁠⁠⁠⁠⁠⁠https://events.linuxfoundation.org/open-source-finance-forum-new-york/⁠⁠⁠⁠⁠⁠ 2022 State of Open Source in Financial Services Download: ⁠⁠⁠⁠⁠⁠⁠https://www.finos.org/state-of-open-source-in-financial-services-2022⁠⁠⁠⁠⁠⁠ All Links on Current Newsletter Here: ⁠⁠⁠⁠⁠⁠⁠⁠https://www.finos.org/newsletter⁠⁠⁠⁠⁠⁠⁠⁠ - more show notes to come A huge thank you to all our sponsors for Open Source in Finance Forum New York ⁠⁠⁠⁠⁠https://events.linuxfoundation.org/open-source-finance-forum-new-york/⁠⁠⁠⁠⁠that will take place this November 1st at the New York Marriott Marquis This event wouldn't be possible without our sponsors. A special thank you to our Leader sponsors: Databricks, where you can unify all your data, analytics, and AI on one platform. And Red Hat - Open to change—yesterday, today, and tomorrow. And our Contributor and Community sponsors: Adaptive/Aeron, Discover, FinOps Foundation, instaclustr, mend.io, Open Mainframe Project, OpenJS Foundation, OpenLogic by Perforce, Orkes, Red Hat, Sonatype, and Tidelift. If you would like to sponsor or learn more about this event, please send an email to ⁠⁠⁠⁠⁠sponsorships@linuxfoundation.org⁠⁠⁠⁠⁠. Grizz's Info | ⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/aarongriswold/⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠grizz@finos.org⁠⁠⁠⁠⁠⁠⁠ ►► ⁠⁠⁠⁠⁠⁠⁠Visit FINOS www.finos.org⁠⁠⁠⁠⁠⁠⁠ ►► ⁠⁠⁠⁠⁠⁠⁠Get In Touch: info@finos.org

CSL, Australia's biggest company company, is planning to crack the $33 billion asthma market by developing a new, personalised drug to stop inflammation. Tesla is developing a new supercomputer called Dojo that is expected to add $500 billion to its market value, according to Morgan Stanley. Warner Bros. Discovery has cut its annual profit forecast by $500 million as the Hollywood strikes show no signs of slowing down. — Build the financial wellbeing of your team with Flux at Work: https://bit.ly/fluxatwork Download the free app (App Store): http://bit.ly/FluxAppStore Download the free app (Google Play): http://bit.ly/FluxappGooglePlay Daily newsletter: https://bit.ly/fluxnewsletter Flux on Instagram: http://bit.ly/fluxinsta Flux on TikTok: https://www.tiktok.com/@flux.finance —- The content in this podcast reflects the views and opinions of the hosts, and is intended for personal and not commercial use. We do not represent or endorse the accuracy or reliability of any opinion, statement or other information provided or distributed in these episodes.See omnystudio.com/listener for privacy information.

Tina Cardall, a first-generation Slovenian American born in Cleveland, Ohio, holds a B.S. in Finance from The State University of New York at Westbury. Her parents, immigrants from communist Yugoslavia after enduring the devastation of both world wars, instilled the American dream in her from an early age. Tina spent over a decade working on Wall Street for Morgan Stanley & Credit Suisse Asset Management as a Performance Analyst, a period that included her presence in Manhattan during the tragic events of September 11th when the Twin Towers were destroyed.   While pursuing her finance career, Tina discovered a passion for fitness and became an AFAA Certified Personal Trainer, teaching classes at night for enjoyment. She also holds a 1st Degree Black Belt in Tae Kwon Do. Later, she relocated to Orange County, California, where she worked as a Health Coach for Amen Clinics, Inc., founded by best-selling Author Dr. Daniel Amen, a renowned psychiatrist and brain disorder specialist. During this time, she joined Saddleback Church, a Baptist Evangelical mega-church, and played a pivotal role in implementing The Daniel Plan with Pastor Rick Warren, collaborating with Dr. Mark Hyman, Dr. Mehmet Oz, and Dr. Daniel Amen.    In 2011, Tina returned to Cleveland, Ohio, to care for her ailing father. She married award-winning pianist Paul Cardall in 2013 and continued her personal training journey, competing in seven NPC bodybuilding competitions and securing several Masters category victories. Leveraging her financial background, Tina played a pivotal role in facilitating the high-value acquisition of her husband's music catalog within the music industry. Subsequently, she teamed up with BeautyCounter, a non-toxic beauty company, to promote a healthier lifestyle and raise awareness about the importance of using safe ingredients in personal care products.   You'll undoubtedly appreciate Tina's unwavering commitment to positively impact the lives of everyone she encounters.   … #mentalhealth #mentalhealthawareness #mentalhealthmatters #mindset #speaker #leadership #inspirationalspeaker #overcome #mindset #strong #love #light #inspiration #beliefcast #toddinspires #tsinspires  .... You can connect with Tian here: IG:  @tinacardall FB: Tina Cardall  https://www.facebook.com/tina.cardall .......... Special thanks to our sponsors: Thread Wallets @thread_wallets Siegfried & Jensen @siegfriedandjensen Wasatch Recovery @wasatchrecovery Music by Paul Cardall

We interview Kostya Kimlat, a magician who has helped refocus and reenergize the sales and customer service staff at dozens of well-known companies, including Balfour Beatty, Walt Disney World, Morgan Stanley, and Siemens. (You may know him as the guest who stumped Penn and Teller on their show Penn & Teller: Fool Us.) His ability to translate “thinking like a magician” and managing “perceptual transactions” to creating your desired effect in clients is not only unique but also incredibly insightful and useful. When you listen, you'll learn a genius strategy to dramatically increase access to more prospects instantaneously and without depleting your resources, tips for how to read a room and know what each person needs to stay engaged and satisfied, and four simple steps to create interest and build trust with any audience in any situation. Be sure to check out our show notes at staypaidpodcast.com for more in-depth information and added details not included in the episode. Connect | Resources ·      Website: thebusinessmagician.com ·      Watch Kostya's performance on Penn & Teller: Fool Us ·      Hocus Pocus Practice Focus: The Making of a Magician by Amy Kimlat We are a participant in the Amazon Services LLC Associates Program, an advertising program designed to provide a means for ReminderMedia to earn a small fee by linking to Amazon.com and affiliated sites. 0:00     Introduction 1:06     Kostya's backstory 1:57     Businesses should “think like a magician” 3:24     Customers prefer magicians to jugglers 4:33     Focus on perceptual management 5:42     From magician to motivational speaker 8:31     Thoughts on marketing 10:39   Fast growth vs slow and steady 13:25   Optimizing his opportunity with Penn & Teller 15:32   Getting into your audience's heads [Golden Nugget] 18:59   Reading visual cues | Paying attention 23:16   Ways to connect with different needs of your audience 29:27   The illusion of reading minds 30:32   Being shaped by adversity 34:41   Kostya fools Luke and Josh 40:04   Action Item   Want Josh and Luke to help you with your marketing? Visit https://remindermedia.com/StayPaidMarketing/ Want to request a free sample of our magazine? Visit: https://remindermedia.com/staypaidnewagent/

David Velez is the Founder and CEO of Nubank, one of the largest and fastest-growing financial institutions in the world. 1 in 2 people in Brazil alone have a Nubank account. Nubank's purple credit card in Mexico is the highest-rated NPS product of any consumer product in the world. Before founding Nubank in 2013, David was a partner at Sequoia Capital between 2011 and 2013, in charge of the firm's Latin American investments group. Before Sequoia, David worked in investment banking and growth equity at Goldman Sachs, Morgan Stanley and General Atlantic. In Today's Episode with David Velez We Discuss: 1. From Sequoia Partner to Creating One of the Largest Financial Institutions: What was the Sequoia interview process like? What questions did Doug Leone really dive into when hiring David? What impressed David most about how Sequoia interview and win talent? What are 1-2 of David's biggest lessons from working with Doug Leone? 2. From a Small House to a $BN Public Company: What does David believe are the 1-2 core but non-obvious reasons why Nubank scaled so fast? What does David believe are the most non-obvious but massive opportunities Nubank has to 10x from here? Why does David believe emerging market fintech providers will be more valuable than Western fintechs? What does David believe Western fintechs and regulators can learn from BRIC economy fintechs? 3. How AI Changes The Future of Financial Services: How does David believe AI will change financial services? What products are the lowest-hanging fruit? Which products will be harder for AI to serve? How will AI handle the ambiguity of which master to serve; the consumer and their experience or the bank and their fees