Podcasts about Pe

What does it take to rise from refugee to Olympic medalist? Marathon legend Meb Keflezighi reveals his extraordinary journey from war-torn Eritrea to becoming the only American to win Boston, New York, and an Olympic medal in the marathon.Meb's story begins with a father who walked 225 miles to escape persecution, a family separated for five years, and a young boy who discovered his talent by simply trying to earn an A in PE class. From his surprising 5:20 mile as a seventh-grader to his dramatic silver medal in Athens and unforgettable 2014 Boston Marathon victory, Meb shares the mental strategies, training philosophies, and life perspectives that fueled his historic career.What makes this conversation special is how Meb connects with runners of all abilities. Despite his elite status, he understands the universal challenges we face – bad training days, race disappointments, and the mental battles we fight. When he talks about walking during marathons or falling at the Olympic finish line, we're reminded that greatness isn't about perfection but perseverance.For those preparing for upcoming Disney races, Meb offers practical training advice: space out your runs, keep long runs significantly slower than race pace, and prioritize recovery. His emphasis on balancing quality over quantity provides a refreshing perspective for runners at any level.The podcast also features a spotlight on Megan, who transformed from a back-of-pack runner to discovering new speed at the Panerathon 10K, plus race reports from across the country showing how summer training is leading to fall PRs. With Disney Halloween weekend just days away, this episode delivers the perfect blend of inspiration and practical wisdom to fuel your running journey.Join us for this unforgettable conversation with a true running legend who reminds us that "running to win doesn't mean getting first place, but getting the best out of yourself."Send us a textSupport the showRise and Run Podcast is supported by our audience. When you make a purchase through one of our affiliate links, we may earn a commission. As an Amazon Associate we earn from qualifying purchases.Sponsor LinksMagic Bound Travel Stoked Metabolic CoachingRise and Run Podcast Cruise Interest Form with Magic Bound Travel Affiliate LinksRise and Run Amazon Affiliate Web Page Kawaiian Pizza ApparelGoGuarded

Welcome to Day 28 of the Double Your Profit SeriesThe go-to series for contractors, home service owners, and small business entrepreneurs.Today's lesson is simple, bold, and direct: Outspend Your Competitors in Sales & Marketing.

Greg is celebrating the news of Taylor and Travis's engagement by getting marriage tips from a PE teacher and an English teacher. Yelp, buzzzz and neowwww... just some of the sounds provided by the Choir of Idiots! Plus All the Latest Things, Yesterday's Quiz and there's been a new addition to the live lounge.

In this episode, I talk with Bony Dawood, PE, President and CEO of Dawood Engineering, Inc. (A Woolpert Company), about how an engineering ownership mindset can elevate your AEC career and business success. We explore the hiring strategies, leadership values, and client-focused mindset that shape a people-first culture, along with the importance of trust, mentorship, […] The post Why an Engineering Ownership Mindset Matters for AEC Leadership and Long Term Growth – Ep 295 appeared first on Engineering Management Institute.

Send us a textIn this episode of the Inspired Podcast, Ms Amber Red, Aubrie, Sasha & Adrienne open up about the future of Inspired and what it really takes to grow a podcast that stands out in today's crowded content world.

The Rabbis instituted the recitation each morning of the Beracha "Oter Yisrael Be'tif'ara" – "who crowns Israel with glory," which refers to our wearing a hat on our heads. Rav David Abudarham (Spain, 14 th century) understood that this Beracha is recited specifically over turbans, which were commonly worn in Arab lands. Turbans resemble a crown, and thus the term "Oter" – "crowns" – is appropriate for this kind of hat. According to this view, the Beracha is recited only by those who wear turbans, and not in countries where people are not accustomed to wearing this special kind of hat. Others, however, follow the view of Tosafot, that this Beracha refers to any head covering. This is, indeed, the commonly accepted practice – to recite this Beracha regardless of which kind of head covering a person wears. The Shulhan Aruch explains that although we already recite a Beracha praising Hashem for the gift of clothing ("Malbish Arumim"), a special Beracha was instituted for head-coverings because of the prohibition to leave our heads uncovered. Some Poskim maintained that covering one's head does not constitute an outright Halachic requirement, but all agree that this is the proper practice, and the Zohar, in particular, emphasizes the importance of covering one's head. The Shechina hovers over a person's head, and so we are to wear a head-covering to show deference to the divine presence and so that we are mindful at all times of Hashem's watchful eye and protection. Indeed, the word commonly used today in reference to a head-covering – "Yarmulke" – is a combination of the words "Yareh Malka" – "fearful of the King," as the Yarmulke serves to ensure that we conduct ourselves with an awareness of the King's constant presence. This is why this Beracha specifies the Jewish People – "Oter Yisrael…" We refer here not to ordinary hats – which even gentiles wear – but rather to the special requirement we observe to wear a head-covering as a sign of "glory," of our cognizance of Hashem's presence in our lives. The Tur (Rabbenu Yaakob Ben Asher, 1270-1340) writes that his father, the Rosh (1250-1327), had the practice of reciting this Beracha after putting on his Tefillin. He felt that when this Beracha speaks of us being "crowned with glory," it refers to the Tefillin Shel Rosh, which is described as our source of "glory" in the Book of Yehezkel (24:17 – "Pe'ercha Habosh Alecha"). However, this is not the accepted practice. In fact, we follow the view that it is preferable to recite the morning blessings at home, before coming to the synagogue and putting on our Tefillin for Shaharit. The accepted view is that the Beracha of "Oter Yisrael Be'tif'ara" refers to our covering our heads out of reverence for G-d, as discussed, and not to the Tefillin on our heads.

Got Questions?⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ https://calendly.com/conrad-rodriguez/30-minute-coaching-session⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Get THE BEST PENIS EXTENDER ON THE MARKET! ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠CLICK HERE⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

What if losing everything became the very thing that unlocked your biggest growth? In this episode, Joseph shares how he grew Empire into a $42M company, navigated private equity partnerships, reinvented himself during the pandemic, and built enduring business relationships with his wife and longtime partner Moses. His story is a masterclass in resilience, reinvention, and the compounding value of meaningful relationships. With more than 20 years of experience in facilities management and construction, Joseph Scaretta has co-founded and scaled two national facility maintenance companies — exiting both, including his tenure as co-CEO of CS Hudson. Today, he's challenging the status quo again with Mason Made, building innovative niche services and customer-focused team cultures   [00:04:40] – Setting Context: Mason Made Joseph introduces his current company, Mason Made. Focus areas: facilities management, construction, and software. Vision: solving gaps in data, infrastructure, and technology. [00:07:04] – First Entrepreneurial Venture How Joseph met his business partner Moses. The leap from working at a small construction firm to starting Empire. Scaling Empire to $42M revenue and over 100 employees. [00:09:44] – Growth, Sale, and Private Equity Lessons Selling Empire and transitioning into CS Hudson. Expanding into essential service industries (medical, storage, finance). Learning KPIs and data-driven operations from private equity. [00:12:06] – Second Private Equity Experience Partnering with PE again to accelerate growth. Key lessons: asking better questions, knowing when visions diverge. Transition into Mason Made with a stronger foundation. [00:14:05] – The Power of Relationships Kevin poses the core podcast question: who changed Joseph's journey? Joseph highlights his wife Stephanie as his greatest support. Her resilience, career pivot into nursing, and parallel journey with him. [00:18:01] – Honoring His Business Partner, Moses How Moses taught Joseph the industry from scratch. Why partnerships accelerate success (when done right). 20+ years together, across 3 companies and multiple acquisitions. [00:24:27] – A Defining Client Story Landing Sprint/Nextel as a client. Moses' cautious approach prevented overpromising. How balance in partnership protected their reputation and fueled growth. [00:27:55] – Lessons From 20+ Years in Business Why humility and asking for help matter. Recognizing when to pivot and reinvent. The long-term value of nurturing both personal and professional relationships. Key Quotes “Relationships and referrals have gotten us to where we are today.” — Joseph Scaretta “Whatever I could dream, Moses could build.” — Joseph Scaretta “Having a partner with complementary skills accelerates everything tenfold.” — Joseph Scaretta Connect with Joseph Scaretta LinkedIn: linkedin.com/in/josephscaretta Website: masonmade.coEmail: joe@masonmade.co   Thanks for tuning in! If you liked my show, please LEAVE A 5-STAR REVIEW, like, and subscribe! Find me on: Apple Podcasts | Spotify |  iHeart Radio | Stitcher

What does it take to launch a treasury function from the ground up - twice? In this episode, Anshul Patni shares how he built treasury operations at Instacart and Bakelite Synthetics, and offers practical, actionable lessons on leadership, technology, and global cash management for today's treasury professionals.In this special revisited episode of the Treasury Career Corner Podcast I reconnect with Anshul Patni now the Vice President and Treasurer at Bakelite Synthetics, where he leads a global treasury, credit, and insurance team. With prior experience as Treasurer at Instacart and a long tenure in treasury consulting at Deloitte, Anshul brings a rare dual perspective from both corporate and advisory sides of treasury operations.What We Cover in This Episode:Anshul's early interest in economics and risk managementKey career lessons from roles at Reval, Deloitte, and beyondThe shift from treasury consulting to corporate leadershipBuilding treasury teams and functions from the ground upDifferences between managing treasury in high-cash tech vs. PE-owned global companiesHow to evaluate and implement a Treasury Management System (TMS)Managing FX and interest rate risk in multinational operationsWhy technology selection must match business process, not brandStrategic treasury leadership during debt-heavy growth phasesCoaching team members and developing cross-functional expertiseYou can connect with Anshul Patni on LinkedIn. ---

Text us your thoughts on the episode or the show!In this episode of Ops Cast by MarketingOps.com, powered by The MO Pros, hosts Michael Hartmann, Mike Rizzo, and Naomi Liu speak with Dean de la Peña, VP of Identity, Data Strategy, and SaaS at Resonate.Dean discusses the role of predictive intelligence in marketing and explains how brands can utilize more comprehensive data signals to enhance audience targeting and personalization. He also outlines the importance of identity resolution and data structure in building effective campaigns.Topics covered include • How to apply predictive consumer intelligence to marketing workflows • The value of identity resolution in campaign planning • Practical approaches to scaling personalization based on real dataThis episode is intended for marketing operations professionals looking to improve their use of data in audience engagement.Episode Brought to You By MO Pros The #1 Community for Marketing Operations Professionals Visit UTM.io and tell them the Ops Cast team sent you. Join us at MOps-Apalooza: https://mopsapalooza.com/Save 10% with code opscast10Support the show

In today's episode of the Elevate Your Career podcast, Nicole is joined by George Bock, Chief Information Officer for Generali Global Assistance.You're invited into a conversation about navigating change, innovation, and uncertainty in today's evolving world. The discussion touches on the importance of resilience, forward-thinking leadership, and the ability to see challenges not as roadblocks but as opportunities for growth. Themes of adaptability and vision run throughout, highlighting how embracing new perspectives can shape both personal and professional success.Nicole and George explore the influence of technology, emerging trends, and the ways individuals and organizations can prepare for the future. By considering diverse ways of thinking, from creative problem-solving to philosophical insights, the conversation encourages reflection on how different approaches can spark progress and new opportunities.This episode offers both inspiration and practical wisdom for anyone looking to grow, adapt, and thrive in a world of constant change. Learn why George believes AI and adaptability will define the next era of leadership, and what you can do to stay ahead.If you've enjoyed this episode of the Elevate Your Career podcast, be sure to leave a review and subscribe today! Enjoy!Key takeaways:Why George believes that his psychology degree is more relevant to his career as a CIO than a computer science degree.His career path starting in financial sales, accounting, and auditing before transitioning to IT.The importance of taking risks and not being afraid to fail.The value of networking and forming personal connections in a competitive job market.George's experience with Toastmasters and how it has helped him become a better communicator.And much more...Guest Bio:George Bock is the Chief Information Officer for Generali Global Assistance. With over 30 years of experience, George is a proven leader in delivering $20M+ in value through digital transformation, automation, AI innovation, and global M&A for large and mid-sized companies, including many PE-backed firms. He specializes in uniting business and technology teams to achieve consensus and alignment, driving both strategic and tactical decisions that enhance ROI and operational excellence. George's expertise spans strategic IT leadership, global ERP/CRM transformations, and M&A strategy, due diligence, and integration. He brings deep knowledge in digital transformation, AI innovation, governance, risk management, and cybersecurity, as well as budget optimization and ROI analysis. Known for decisive leadership in high-stakes environments, he excels at guiding organizations through complex change with clarity and impact.Resources:George's LinkedInGenerali Global AssistanceIrvine Technology CorporationDisclaimer: The views, information, or opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of the Elevate Your Career podcast or its affiliates. The content provided is for informational and entertainment purposes only and is not intended to be a substitute for professional advice. We make no...

[AUTOPROMOCJA] Pełnej wersji podcastu posłuchasz w aplikacji Onet Audio. Gościem najnowszego odcinka podcastu Raport międzynarodowy jest prof. Antoni Dudek, wykładowca UKSW, autor kanału Dudek o historii. Prowadzący Witold Jurasz i Zbigniew Parafianowicz zaproponowali Antoniemu Dudkowi rozmowę na dwa tematy. Pierwszy ogólny to próba odpowiedzi na pytanie, czy polscy politycy mogą zachowywać się w racjonalny, a nie romantyczny sposób w polityce zagranicznej, drugi - o przyszłość prezydenta Karola Nawrockiego. Czy będzie on nawiązywać do polityki zagranicznej Lecha Kaczyńskiego, czy też znacznie bliżej będzie mu do optyki środowisk Konfederacji?   Pierwszą poruszoną kwestią był polski brak racjonalności i nieumiejętność zimnego, a być może nawet, gdy to konieczne, cynicznego myślenia w polityce zagranicznej. Czy to przekleństwo romantycznie pojmowanej polityki nie jest aby pokłosiem dominacji inteligencji. Przy czym należy tutaj zaznaczyć, że chodzi o inteligencję mającą w istocie w większości chłopskie pochodzenie. Prof. Antoni Dudek niestety nie jest optymistą i zakłada, że romantyczna polska tradycja będzie dominować jeszcze przez lata.   O tym wszystkim usłyszą Państwo w dostępnym na naszej stronie głównej i kanale YT fragmencie. Pełna wersja podcastu Raport Międzynarodowy dostępna jest w subskrypcji Onet Premium, a w niej Witold Jurasz i Zbigniew Parafianowicz pytali prof. Dudka, czy polska inteligencja powinna się rozliczyć w większym stopniu z udziału w komunizmie, czy też może raczej z hipokryzji, którą jest opowieść o rzekomym sprzeciwie większości grona inteligenckiego wobec komunizmu. Prowadzący i gość zastanawiają się też nad dziedzictwem Powstania Warszawskiego. Jakie przyczyny stoją za absolutnym brakiem umiejętności trzeźwego spojrzenia na Powstanie zarówno w środowiskach Prawa i Ssprawiedliwości, jak i Platforma Obywatelska. Czy którykolwiek z członków dwóch najpotężniejszych sil politycznych w kraju byłby w stanie przyznać, że waszawski zryw był całkowitą klęską? Witold Jurasz w tym kontekście pyta, czy mit powstania nie jest aby skutkiem istnienia PRL? Prof. Antoni Dudek w odpowiedzi zauważył, że moglibyśmy w naszej historii znaleźć wiele przykładów zwycięstw, ale z jakiegoś powodu nie do nich odnosimy się w naszej narodowej mitologii.   W drugiej części rozmowy poświęconej Karolowi Nawrockiemu prowadzący Zbigniew Parafianowicz i Witold Jurasz zastanawiali się z prof. Dudkiem czym różni się tradycja endecka od piłsudczykowskiej w zakresie polityki zagranicznej i czy Karol Nawrocki jest nie jest aby w gruncie rzeczy endekiem, co czyniłoby go człowiekiem bliższym ideowo Konfederacji, a nie PiS? 

Javier Enrile, Managing Director of M&A at TIAA In this episode, he breaks down the art and science of thinking like a strategic buyer—from building proprietary deal pipelines through relationship-first sourcing to using sophisticated valuation techniques that separate intrinsic value from market noise. Javier reveals why patient relationship building beats aggressive auction processes, how to structure deals that protect against downside risk, and the critical integration between valuation, diligence, and deal structuring that separates successful acquirers from the rest. Things you will learn: How to build proprietary deal flow through relationship-first sourcing that creates competitive advantages over auction processes The framework for separating standalone intrinsic value from synergy premiums using DCF analysis, especially in cross-border situations Deal structuring tools like priority returns, earnouts, and rep & warranty policies that protect buyers when deals underperform _____________ Today's episode of the M&A Science Podcast is brought to you by Grata! Grata is the leading private market dealmaking platform. With its best-in-class AI workflows and investment-grade data, Grata helps investors, advisors, and strategic acquirers effortlessly discover, research, and connect with potential targets — all in one sleek, user-friendly interface. Visit grata.com to learn more.  __________________ M&A Doesn't Have to Be So Painful

(0:00) Intro(1:27) About the podcast sponsor: The American College of Governance Counsel(2:13) Start of interview(2:51) Jonathan's origin story(4:23) His Journey into Governance, initially via accounting with PwC and later with Lazard.(6:17) Types of Governance Structures(7:51) About his firm Current Capital Partners (M&A advisory, corporate management services, and PE investing).(8:31) The Inspiration Behind his book On Boards: The Modern Playbook for Corporate Governance.(10:44) Interviews that Shaped the Narrative. His standout: Admiral Michael Mullen.(13:04) Target Audience for the Book(14:48) The importance of "boards [with a roster of] best athletes, not experts in a narrow area."(17:04) His personal journey into boardrooms(19:56) Experience as an Expert Witness (21:41) Evolution of Delaware's Corporate Law. *Reference to Moelis case and Tesla's Elon Musk CEO compensation case. (24:40) AI's Impact on the Boardroom. "[I]t is critical to remember that directors oversee, but management runs the company day to day."(29:50) Navigating Geopolitical Challenges(32:01) The Rise of Shareholder Activism(34:29) Insights on Corporate Restructuring *Reference to E38 on the rise of bankruptcy directors with Jared Ellias (now at HLS)(38:33) Separation of Chair and CEO is preferable(39:00) "I think term-limits are a cop-out" there should be annual individual director evaluations.(39:43) The Need for Corporate Director Licenses.(41:36) Books that have greatly influenced his life:On a Clear Day You Can See General Motors, by Patrick J. Wright (1979)The Right Stuff, by Tom Wolfe (1979)The House of Morgan, by Ron Chernow (1990)(42:30) His mentors(43:18) Quotes that he thinks of often or lives his life by: "You can't get a hit if you don't swing the bat" "I'm dumb enough to make a decision" "It's all about tomorrow" "Have fun, life is too short"(44:24) An unusual habit or an absurd thing that he loves.(45:31) The living person he most admires: the Pope and Lebron James.Jonathan Foster is an experienced corporate director, investment banker, and expert witness in corporate litigation, and the author of the new book On Boards: The Modern Playbook for Corporate Governance. He has served on more than 50 boards, including Fortune 500 companies, private companies and companies involved in restructurings. You can follow Evan on social media at:X: @evanepsteinLinkedIn: https://www.linkedin.com/in/epsteinevan/ Substack: https://evanepstein.substack.com/__To support this podcast you can join as a subscriber of the Boardroom Governance Newsletter at https://evanepstein.substack.com/__Music/Soundtrack (found via Free Music Archive): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License

In what has become an annual tradition, Walt sits down with the incoming and outgoing AREMA Presidents ahead of the AREMA Annual Conference & Expo.  Outgoing AREMA President William S. Riehl, III, PE, F.SAME (Genesee & Wyoming Inc.) reflects on a year of strategic partnerships, expanded member value, and the importance of steady leadership. He will be handing the reins to incoming President and current Senior Vice President Jerry W. Specht, EIT (CPKC), who is ready to take AREMA international, with plans to translate manuals into multiple languages and also highlight AI. Together, they preview the upcoming Conference & Expo in Indianapolis, featuring revamped scheduling, more inclusive education, and a renewed focus on the attendee experience. It's a discussion of what's ahead for the organization and the railway industry you won't want to miss. 

Is the AI bubble about to burst? Don't miss the Trendspider sale - up to 52 training sessions per year - learn with weekly 1-1 zoom sessions. Here are the links to all the sales: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠SAVE BIG - HUGE LABOR DAY SALE ON TRENDSPIDER - GET THE ANNUAL SUBSCRIPTION TO GET MY 4 HOUR ALGORITHM OR TRY IT for $7 ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Plus what Brandon goes through how to look at the P/E ratios of turnaround plays

Alors que l'OMS estime que les personnes en situation de handicap sont davantage exposées au risque de maladies chroniques (asthme, diabète, affections cardiovasculaires), l'accès de ces populations aux établissements de santé est complexe, du fait de l'accessibilité, de la formation des personnels soignants, des impératifs économiques comme des stigmatisations et croyances qui pèsent sur les personnes handicapées. (Émission délocalisée en Casamance).  Le monde associatif se mobilise pour sensibiliser et agir concrètement, en proposant des initiatives et campagnes dédiées et adaptées aux problématiques du handicap. L'équipe de Priorité santé va rendre compte en Casamance des actions de l'association Special Olympics Sénégal, qui accompagne les familles à travers des initiatives sportives, mais aussi socio-éducatives et médicales.  Aissatou Diedhiou, responsable de Special Olympics Senegal Sous-programme de Ziguinchor au Sénégal   Pr Lamine Thiam, enseignant chercheur à l'Université Assane Seck de Ziguinchor. Professeur agrégé, spécialiste de neurologie pédiatrique. Chef du service de Pédiatrie de l'Hôpital de la paix de Ziguinchor. Ancien interne des hôpitaux du Sénégal Chérif Niassy, enseignant et père de Nfally, jeune athlète Programmation musicale : ► Amadeus & Waly B Seck – Jëli ► Dieyla – Doflo Ngama.   (Rediffusion)

Send us a textWhat's up PE Nation!Let's talk "Game Changers" today! Scotty Scheffler, the world's #1 golfer, offers a refreshing perspective on success, prioritizing faith and family over trophies and fame. His approach stands in stark contrast to other sports heroes who often disappoint fans through personal failings.• Winning isn't Scheffler's identity – his faith provides his foundation regardless of golf outcomes• Trophies and accomplishments are fleeting – Scheffler questions why winning matters so much• Family comes before career – he would walk away from golf if it negatively affected his home life• His ultimate purpose is using his talent to glorify God, not seeking fame or fortuneTake care and happy teaching,DaveScottie's interview: https://x.com/GolfDigest/status/1945084133941649919Team Building Games Ebook (with preview): https://www.teacherspayteachers.com/Product/Team-Building-Games-and-Activities-for-PE-Class-14063095-Supersizedphysed.com serves as the hub for all resources, articles, and courses• Free resources include Substack and Medium articles with PE tips, games, and strategies• A free video course on the "PE-9": principles for improving your PE programPlease take 10 seconds to leave a review

Alors que l'OMS estime que les personnes en situation de handicap sont davantage exposées au risque de maladies chroniques (asthme, diabète, affections cardiovasculaires), l'accès de ces populations aux établissements de santé est complexe, du fait de l'accessibilité, de la formation des personnels soignants, des impératifs économiques comme des stigmatisations et croyances qui pèsent sur les personnes handicapées. (Émission délocalisée en Casamance).  Le monde associatif se mobilise pour sensibiliser et agir concrètement, en proposant des initiatives et campagnes dédiées et adaptées aux problématiques du handicap. L'équipe de Priorité santé va rendre compte en Casamance des actions de l'association Special Olympics Sénégal, qui accompagne les familles à travers des initiatives sportives, mais aussi socio-éducatives et médicales.  Aissatou Diedhiou, responsable de Special Olympics Senegal Sous-programme de Ziguinchor au Sénégal   Pr Lamine Thiam, enseignant chercheur à l'Université Assane Seck de Ziguinchor. Professeur agrégé, spécialiste de neurologie pédiatrique. Chef du service de Pédiatrie de l'Hôpital de la paix de Ziguinchor. Ancien interne des hôpitaux du Sénégal Chérif Niassy, enseignant et père de Nfally, jeune athlète Programmation musicale : ► Amadeus & Waly B Seck – Jëli ► Dieyla – Doflo Ngama.   (Rediffusion)

On today's episode, Kyle Grieve discusses legendary value investor John Neff, one of the most underrated investors in value investing, who quietly outperformed the S&P 500 for decades. You'll learn more about Neff's contrarian mindset, his focus on low PE stocks, and his disciplined yet unconventional approach, which shaped one of the most impressive track records in investing history. IN THIS EPISODE YOU'LL LEARN: 00:00 - Intro 03:04 – The unconventional mindset that made John Neff a true contrarian investor 03:41 – Why “boring” businesses can be surprisingly beautiful wealth builders 04:18 – How lessons from his father and mentors shaped Neff's investing philosophy 06:21 – The hidden danger of investment committees that drag down star performers 10:58 – The two simple categories Neff used to organize his view of the stock market 17:11 – Why Neff's strategy leaned into dividends—and how that powered his outperformance 19:40 – The overlooked way he measured actual business value against the market 20:20 – How Neff found profits hiding in slow growers, cyclicals, and even high PE stocks 56:51 – The surprising blind spot of value investors who ignore compounders Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Buy a copy of John Neff on Investing here. Buy a copy of Investing For Growth here. Follow Kyle on Twitter and LinkedIn. Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. NEW TO THE SHOW? Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Check out our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠We Study Billionaires Starter Packs⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Follow our official social media accounts: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TikTok⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Browse through all our episodes (complete with transcripts) ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Try our tool for picking stock winners and managing our portfolios: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Finance Tool⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Enjoy exclusive perks from our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠favorite Apps and Services⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. SPONSORS Support our free podcast by supporting our sponsors: SimpleMining HardBlock AnchorWatch Human Rights Foundation Cape Unchained Vanta Shopify Onramp Abundant Mines HELP US OUT! Help us reach new listeners by leaving us a ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠rating and review⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Spotify⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! Support our show by becoming a premium member! ⁠⁠⁠⁠https://theinvestorspodcastnetwork.supportingcast.fm⁠ Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

In this special presentation, Lt. Gen. Tony Bauernfeind '91, USAFA's 22nd superintendent, shares an inside look into cadet development and answers graduate questions. Hosted by Lt. Col. (Ret.) Naviere Walkewicz '99, this episode dives into the Academy's mission and how it is preparing our nation's future warfighters.   FULL TRANSCRIPT SPEAKERS Guest:  Lt. Gen. Tony Bauernfeind '91  |  Host:  Lt. Col. (Ret.)Navire Walkewicz '99   Naviere Walkewicz This special edition of the Air Force Gradcast is a production of the Long Blue Line Podcast Network, presented by the U.S. Air Force Academy Association & Foundation. I'm your host, Lt. Col. (Ret.) Naviere Walkewicz, Class of '99. We're honored to feature the superintendent of the United States Air Force Academy, Lt. Gen. Tony Bauernfeind, Class of '91. In this presentation, Gen. Bauernfeind will share important updates on current initiatives and developments at our Air Force Academy. Following his remarks, he and I will sit down for a conversation, during which he'll respond to questions submitted by graduates in our alumni community. So now, without further ado, Gen. Bauernfeind. Thank you for being here, sir.   Gen. Bauernfeind Well, Naviere, thank you so much for allowing us to come and share our story of our wonderful Air Force Academy. And thank you as well to the Association of Graduates and the Foundation for all of the incredible support that we receive to develop our future leaders into the warrior leaders that we need on Day 1 in our Air Force and Space Force.   Naviere Walkewicz Yes, sir, we are grateful you're here, and we can't wait to hear what you're able to share with us today, sir, so we can jump ahead if you're ready.   Gen. Bauernfeind Wonderful. So I would like to share with you an updated mission brief of where we are going at the United States Air Force Academy. And during this time, I'd like to share not only our leadership team that's taking on the transformation that has been mandated, but also to update our alumni on our mission, our vision, our priorities and our mission sets, as well as talk about how we are creating warfighters, leaders of character and quality, and critical thinkers, and provide an update of how we are transforming this amazing institution to develop those warrior leaders that we need to keep our adversaries at bay. So as always, I'd like to start all briefings with a little video that highlights what our cadets are doing and our incredible public affairs team and video team put together the following video that shows what our cadets have been doing over the last six months... ...So you can see that our cadets have been absolutely busy over the last few months, and I can attest that this summer is they brought the problems up even more and are bringing even more energy to their training, their education, their development. But let me first talk about the amazing team at the senior leadership levels at the United States Air Force Academy, because we cannot do what we're doing without this incredible team. So first, we're welcoming reader Gen. Nicholas Evans as our new vice superintendent, coming out as the 18th Wing commander at Kadena Air Base, bringing a wonderful operational experience to bear, as well as academic bona fides to be our vice superintendent. Our command chief remains Command Chief John Alsvig and our commandant remains to be Brig. Gen. Marks and Col. Steve Hasstedt is our acting dean as we work to bring a new dean into bear. Ms. Gail Colvin is our stalwart chief of staff, with her wisdom from the Class of '80 that keeps us moving forward. Ms. Jen Block is our executive athletic director. Mr. Nate Pine is our director of athletics, and our brand new wing commander, the 10th Air Base Wing, Col. Ahave Brown. And we all know that nothing happens at USAFA without the 10th Air Base wing providing the foundational support. But also Col. Taylor from the 306 Flying Training Wing, and Col. Silva is our space detachment commander, and it's important that we have all those leaders that are helping us transform USAFA. And to that transformation, we talk about our updated mission statement that was approved last fall. And that updated mission statement is that “USAFA's mission is to forge leaders of character motivated to a lifetime of service and developed to lead our Air Force and Space Force as we fight and win our nation's wars.” And for the alumni, as we went through this mission statement development, we realized that there are many activities we take on at the United States Air Force Academy. There's education, there's training, there's motivation, inspiration, development. And we realized that we are taking the most amazing women and men from all four corners of this United States, and we're bringing them here as raw materials, and we are taking them through high-stress military, academic and athletic programs to forge them into something stronger than what they were when they showed up. And those are the leaders of character. We also wanted to make sure that we highlighted that it's about delivering a lifetime of service to our nation. It doesn't mean that every graduate needs to do 34-plus years in active duty like I'm currently doing, but continue to give back, whether that's in active duty, the Guard the Reserve, to your community in the defense industry, as an elected official or as a key supporter in our alumni networks — keep serving our nation. And then finally, an acknowledgement that we, alongside our teammates at West Point and Annapolis, have a very special mandate that we are developing those warrior leaders that will fight and win our nation's wars. While we hope that we will achieve peace through strength and deter our adversaries, we must always be ready when the nation calls and we will go forward and deliver victory for our nation. So it's important in our mission, but a mission will only take us so far. And the next step is acknowledging that we must have a vision. What is our North Star? And our North Star is we will remain and continue to be the nation's premier service academy. That we're bringing in rigorous, adversary-focused military training, military training that achieves a standard, that achieves a requirement, and not just training for training sake. But also maintain our level as a nationally recognized academic program with highly competitive athletics, and acknowledging that for us to deliver on those four, we must continue to sustain a world-class installation. But more importantly, continue to bring in professional and dedicated permanent party into our faculty. Our coaches, our headquarters, our installation support requires our outstanding permanent party. And so our vision moves us forward. And from our mission and our vision, we have established three key priorities, and those priorities will guide our decision making. But let me take your attention to the bottom first. The bottom is our foundational aspect, that we build all of our aspects upon our service core values of our Air Force and our Space Force of integrity first, service before self, excellence in all we do, courage, character, connection and commitment. And those we build upon further foundationally to acknowledge that we are in the military and all aspects of military operations activities require a strict adherence to standard. What is the task that we are executing? What are the conditions on which we will execute those tasks? And what standards do we expect, especially in high end warfare, where our standards are so tight. We also acknowledge that what is special about us is our Honor Code. It is foundational to our character, and we'll talk more about that as we build upon this. But realizing that the Class of '59 that established our Honor Code. It has been foundational to the development of our leaders of character and quality as a board, and then adding into the fact that leaders who built lethal warfighting teams — they do it from a position of respect and teamwork, that they take their team and they support them, they hold them accountable, but they push them to rise above what they could think they could personally achieve. And how do we build those future leaders that are going to take teammates from all four corners of this United States and make sure every single teammate is seen, heard and valued and can give everything possible to the mission at hand? And that leads us to our priorities. That our priorities are we are here to forge warfighters to win, to inspire leaders of character and quality, and finally, to motivate critical thinkers to adapt, because all three are important. And that takes us to our mission sets, because those three priorities span across everything we do in a cadet's journey at the United States Air Force Academy. And the first is acknowledging the military training aspect. That military training goes beyond just learning how to put a uniform on, just how to march correctly, but also understanding how to operate inside of Air Force and Space Force norms and take on those military training activities that our Air Force and Space Force are taking on right now with Ready Airmen Training and the ability to execute agile combat deployment. And that's activities like being able to shoot, move, communicate, medicate and automate, but also acknowledging that we also must have that world-class academic program that challenges our future leaders not what to think, but how to think, and to do that from a warfighting-focused curriculum that is very STEM focused, but also leans in hard to how we can leverage the incredible intellect that these cadets are bringing in today and unleash them on some of the hardest Air Force and Space Force problems through our research programs as we lean into it. And then finally, as we talk about our competitive athletics, that athletics is a key aspect of the cadet's journey, whether it be through our 30 incredible intercollegiate sports teams, our intramural programs, our physical education programs, or finally our physical fitness tests that demonstrate the warrior ethos that is being expected of a military service academy, and it's important that we look across those. But let me talk about a little further of our priorities from those three lenses. The first is the aspect of warfighters win, of how we're bringing in training such as shoot, move, communicate, medicate and automate. And I've heard some teammates are going, “Why are we doing this ground focused training?” And at the end of the day, it's not ground focused training, it's joint force training. This is where our Air Force is going. That we still need to be able to succeed in the air, space, cyber domains, but we must also deliver excellence in these domains. With shoot, I requested that all of our cadets now become qualified in their long gun, the M4, and their sidearm, the M18, every single year. So now they'll have the confidence of their weapons when they have to go forward into harm's way. The same with move and communicate. Can they understand the aspects of mission command, especially in future fights where we may not have the best connectivity with our highest headquarters? Will they understand commander's intent and still be able to generate the combat power we need to keep our adversaries on their heels? Finally, to medicate. Over the last few decades, we have benefited from the golden hour, where we had such dominance that when we had a teammate isolated or injured, we would have medical care a rescue capability to them inside the hour. Future battlefields will likely not give us that luxury. So we must teach our future leaders those advanced medical capabilities to take care of their injured teammates while they're continuing to generate combat power. And finally, as we have seen from the Iranian wars and the Ukrainian wars, automation is here and part of modern warfare. And so how are we going to bring automation capabilities to our future leaders so they can develop the new TTPs that we are working through. And again, thank you to the Association of Graduates and Foundation, because you all provided the seed funding for our first automation efforts this summer. So thank you so much. And let me dig in a little further on why warfighters win. And from our president and our secretary of defense, it has been very clear that they want us to establish peace through strength, that we must develop our ways in three areas: to restore the warrior ethos, to rebuild our military and to reestablish deterrence. And we have gotten that guidance very clear from our leadership, and we will prepare our future leaders in that mind. And we have added that over the last year by bringing in year round warfighting training. So not only during the summer periods, but also through the academic year, are we asking our future warrior leaders to take on the military mission, the academic mission and the athletic mission as we move forward. And as discussed, it is directly aligned to our Air Force with Ready Airman Training and our agile combat employment. And over the last year, we took our baby steps. We're not where we need to be, but I can tell you I'm proud of how far we've come, because we moved forward with energy and violence through the fall and spring culminating exercises. I'm proud of how far we've come, but now for this year, we're gonna enter into the walk phase, because we have more to go. And with that in mind, there's been conversations of recognition and promotion, and that is tied not only to our leadership development, but also to our warfighting training. And it's an acknowledgement that for every year you at the Air Force Academy, we are purposely developing you and increasing your capabilities. And so we are going to provide the expectations for your year, whether you're four-degree, three-degree, two-degree or first-degree — a firstie — and you must meet those training standards, and if you do not meet the training standards, then we are not going to recognize you for your past work, but if you meet our standards, then we are going to recognize you for the good work and promote you to the next grade. But the ultimate promotion being a Second Lieutenant in our Air Force and Space Force as it goes forward. Over the last year, there are teeth of this. We did have 153 cadets that were not recognized due to not meeting the standards, but we are now providing them the options over the summer and this fall to now meet the standards as we move forward. Also this year, focusing on warfighting, is acknowledging that we must arm the cadets to be the instructors. Last year, we did it very quickly. Now we're going to take advantage of our incredible cadets, just like our cadets do exceptional things — teaching each other how to fly, teaching other each other how to jump during our freefall program — but now we are working through the cadet warfighter instructor course, a beta course, where we will teach cadets to be those instructors inside of our squadrons in the academic year, to take on how to teach, how to shoot, to move, to communicate, automate and medicate. And we are one more week left in our inaugural cadet warfighter instructor course. I know we will learn much from this beta iteration, but I'm excited to see what we learned from this as we go into the academic year and unleash these cadets and train ourselves. We're also very appreciative from the Foundation for the establishment of the Institute for Future Conflict. And the Institute for Future Conflict has been around for a couple of years and has already forced us to focus and think differently. And I would offer to you the reason behind that is because they are focused on our adversaries. So I like to call them our adversary focused disruptors. They are going to bring ideas to bear that force us to change the way we develop our cadets for the future, because they're looking at what our adversaries are doing. And as such, we made the decision to elevate them into Headquarters USAFA, so they can have a wider impact, not only within the dean of faculty, but also within the Cadet Wing and the Athletic Department, so we can ensure that we are bringing those disruptive thoughts and putting them into in place so we prepare our leaders for a very uncertain world, to include bringing realism into the training that our cadets are taking on. We're also acknowledging academically, there's more that we have to do with our intellect. And over the last year, we have added three additional warfighting minors, one on quantum, one on aerospace materials, and we're in the final stages of establishing a warfighting minor on future conflict. Hopefully that we will be able to start providing that to our cadets over the next year, as we went into that so very excited to the growth in our academic options. And then finally, athletically, we're updating our PT standards, and we're adding additional PE courses for our future leaders. Our future leaders — we will increase water survival, especially when we look to the future and the regions where we expect to potentially have conflict, increased water survival is important — as well as increased combatives, and we're still in the final stages of planning of how we can bring a team focused final warfighting capstone physical education course that brings all of that physical education together for a team-focused event for our firsties, but still in the planning stages of that. And as discussed, updating our PT standards to align with our Air Force and our Space Force, with an acknowledgement that simply what we were doing is adding minimums to each of the caveats to ensure that you must pass each individual event while also meeting a score-based event as we move forward. Again, aligning with our Air Force and Space Force. Now, as we transform, it's not just about warfighters to win. It's also about leaders of character and quality. As I like to say, it's developing leaders who do the right thing the right way, even if it's unpopular, because we must have leaders that are willing to stand up and do the right thing for the formation. And we focused on that. We have focused on reinforcing standards and accountability. While initially it was permanent party coming in fairly strong to establish the standards and accountability, what we quickly saw from our amazing future generation was cadets going, “We've got this. We will establish it. We will uphold our standards. We will uphold our accountability.” And to me, that's very important to see that our next generation is taking ownership of that key leadership aspect, to even include honor. As many know, we had a pretty significant honor violation last year. The bad news is that occurred. The good news is it was the cadets themselves who came forward and said, “This happened, and this is our way forward.” As in all situations, though, anytime you point a finger at somebody, three fingers pointing back at yourself, we realized that institutionally, we had probably lowered the standards too far. We didn't expect enough, and we had parsed the Honor Code. And we made the decision to return to our roots and say, “No, the Honor Code is holistic. It will not be parsed.” But we do acknowledge that these amazing men and women that come from all four corners are coming to us in different stages of their character development, and so the sanctions that come from an honor violation for somebody with us for a few weeks or a couple months may be far different than the sanctions of somebody that are weeks or months out from commissioning and graduation. So ensuring that we have a tiered sanction system to deal with our honor violations. I'm very proud of the ownership that our cadets took with our honor system, and we are reinforcing their efforts as we move forward. We've also pivoted strongly to a four-class system. My observation was is through time at the Air Force Academy, we've ebbed and flowed from a four-class leadership development system to a fourth-class leadership development system. I would offer that we had gone to the point where the majority of training and focus was on the four-degrees, when we are blessed to have these our future leaders for 47 months, and we should be developing them the entire 47 months. And so we have developed the fourth-class leadership system, where for their four-degree year, we will focus them on being good teammates and followers. For the three-degree year, we will focus on them being good frontline engaged supervisors, two-degrees as team leaders and firsties as unit leaders, representing those roles in our Air Force from cadet squadron commander to DO, to executive officer, to A1 through A6 staff positions and flight commander and taking on those responsibilities. And again, just like we talked about work by training, there's assessment mechanisms for each of these that they must meet leadership assessments that will go into whether or not they are recognized and promoted to the next grade, as it moves forward. We executed the first year. Last year, I would offer that it was successful, but we've learned much from the process, and as we go into the second year, I think we're going to be able to go even further with our four-class leadership and development. We've also doubled down on discipline, that standards and accountability are important, and if you fail to meet our standards, then you must be held accountable, not only with punitive aspects, but also with rehabilitative aspects. It's a two-edged pincer movement as we went forward, and from my time at the Academy, I will offer to you, while I may not have enjoyed it at the time, I benefited greatly from both, because it forced me to reflect upon what got me in that situation and how I can take ownership of my own development as we move forward. So that is one of the aspects we return to. And then finally, for our National Character and Leadership Symposium: Let's focus on those character elements that we find through warfighting. And so last fall's was focused on, how are we going to develop warfighters to win? And then for next year, we're going to focus on the courage required to overcome adversity in a warfighting environment. And so I'm very excited as we get the speakers identified for both the fall, a shorter fall iteration, and the normal spring iteration, sharing those speakers with the wider alumni environment. And then finally, talking about those critical thinkers to adapt. I jokingly tell our cadets that, since I was in the '90s, we got to solve all the easy problems, and all that is left are all the wicked hard problems, but we need those critical thinkers to adapt, because they are going to bring the ingenuity, they're going to bring the innovation, and what I've challenged them is they also have to bring the courage to challenge the status quo. Too many times in our military, when we ask why we do something, if the answer is, “We've always done it that way,” then maybe we need to rethink and understand, are there better ways to do it? And I can tell you, our cadets bring that to bear. And so for this year, we're really focused on cadet empowerment and responsibility. Last year with the mandate, we moved very quickly, and we were more directive in nature. And what we heard loud and clear is that cadets hurdled over our expectations. What we heard loud and clear from them was, “We want to control the way forward.” And so how do we empower them more? And how do we make it clear that they are responsible not only for their mission, but their people? And adding to that of spending more time with them with these changes of why are we doing this change, and making sure that they understand the rest of the story. You may not always like the why, but if you have an appreciation of the why, its foundation will be able to execute mission command, because you now understand commander's intent, and you now can go, “I know the why. We can keep moving forward, because we can move forward with that.” We're also focusing on operationalizing all of the United States Air Force Academy, bringing that operational mindset to bear, from whether it would be establishing an A2 directorate in the headquarters and the cadet wing and in all cadet squadrons, and the DA2 director being our intelligence directorate, so that we can start to bring in classified intelligence briefings and give them not only to a permanent party, but to our future leaders. And we started that last January to great success, so that our future leaders can start to understand not only our and our allies capabilities, but our adversary capabilities and how we will conduct our joint warfighting aspects as we move forward. And it's important that we continue to bring in those operational matters so we prepare the cadets of today for the second lieutenants of tomorrow that can seamlessly nest in to how our Air Force and our Space Force operates. And that's a nicer way of saying is some of the USAFA unique things we've done— we probably need to think about how we're doing that in our Air Force and Space Force. We're also doubling down that cadet squadrons are the unit of action, just like it is in our Air Force, that the squadron is the unit of action. And it's tough at USAFA where you may prioritize your IC team, or your major, or your club, but at the end of the day, it's going to be the squadron that succeeds together as a team. And so we are focusing on making sure that we are reinforcing what the cadet squadrons are doing. They are going to go through their military training together. They're going to go through their culminating exercises together, same as recognition and promotion. And that's important as we focus on the four-class system of those teammates, followers, frontline engaged supervisors, team leaders, unit leaders, but also acknowledging that we must empower cadet leaders to own the responsibility of their units. And I recently sat down with cadet squadron commanders and their special staffs and said, “Congratulations, you're the cadet commanders. You are responsible for two things: your mission and your people. It's not just about marching at the front of a formation. It's about executing the mission you've been given, whether that mission be military, academics or athletics, and taking care of your people.” And as such, we have established special staffs inside of each cadet squadron, every wing in the Air Force, most groups and many squadrons have special staff to both support the unit, but more importantly, advise the commander, because the commander is the one who's ultimately responsible for their people. And so we are bringing cadet special staff — which they may not be the subject matter experts in equal opportunity, integrated prevention response, spiritual matters or medical matters. They are there to support the squadron, advise the commander and have that connectivity to our subject matter experts, whether it be our chaplaincy, whether that be our amazing medical group and cadet clinic, our amazing SAPR team and all the helping agencies across USAFA to make sure that we can support all of our cadets going through a high-demand developmental program at the United States Air Force Academy. And the twist on that is again, saying, “Commanders, you are the ones who are responsible.” And now let's give you the tools to be successful as the permanent party are there to advise and oversight, empower our cadets even more. And then the final one is a return to decorum training. We conducted a beta test last year to success, and now we're looking to see how we can bring forward that decorum training for the entirety of the Cadet Wing. I am not this is not a return to the days of wine pairings, you know, but it is an acknowledgement that as an officer in our Air Force and Space Force, when you go to events, you're not only representing yourself, you're representing your team, you're representing your unit. And what are those decorum skills you need to have at events so that you can develop networks with teammates that might be outside your normal operational circle, or how do you ensure how you engage with other teammates so you can learn more about the world you're in? And so it's important that we establish that decorum focus and looking forward to how we can squeeze that in into the complicated lives of all of our cadets as we move forward. And then, just to reinforce on the critical thinking, I've already talked about the three minors we added, but I'm proud to say that we're in close coordination right now with Gen. Tullos at Air University and about to sign the memorandum of understanding where we will start a beta test for offering master's degree classes at the United States Air Force Academy, with the long-term intent of offering master's degrees at United States Air Force Academy under the Air Force Institute of Technology certification. So we have much to learn, but the doorway is open, and I can tell you from looking at so many of our cadets that come in with 20, 30, 40 college credit hours already, I think we have cadets that are ready to take on that journey, and I look forward to giving an update on that after we get through some of our initial how does this work process. So just to summarize: Our mission, our vision, our priorities are delivering what we need. And it's those warrior leaders that are ready on Day 1 in our Air Force and Space Force. And thanks to our amazing team, whether it be in the senior leader team, but more importantly, those incredible permanent party that are working long hours, whether it's in Fairchild Hall, Sijan Hall, Vandenberg Hall, in the tunnels, in the heat plant, in the Child Development Center, down at Clune Arena, out in Jacks Valley — our permanent party are crushing it, and it's important because our nation deserves the best leaders that we can give the 330,000 airmen and guardians that are standing watch for our nation. Thank you.   Naviere Walkewicz Thank you for sharing the mission brief. I think many of us as graduates think we know what happens at the Academy, but you actually sharing what you accomplished in just a year is a bit mind blowing, sir.   Gen. Bauernfeind Thank you. And I, at times, am concerned at how fast we are moving, but I also know that we must move this fast. The adversaries are watching us, and they are choosing when is the right time to test our nation. And so in order to achieve peace through strength, we must display that deterrence, that warfighting ethos, that warfighting capability. So we keep our adversaries waking up every single morning going, “Today is not today to test the United States.”   Naviere Walkewicz Yes, sir, that is right on point. Yes, sir. Well, I would like to thank you in advance for taking on additional questions from our alumni and our graduate community. So if we might start, general, with some of the information across various channels that cuts about to our academics and the Department of Faculty, what would you be willing to share about the civilian workforce reductions and any next to the Academy's academic faculty?   Gen. Bauernfeind First and foremost, the reduction of civilians is not just civilian faculty. It's through all civilians at the United States Air Force Academy, and as we're tracking, throughout the entire Department of Defense. What makes it a little more challenging at the United States Air Force Academy is we have so many different civilian teammates, from firefighters to childcare workers to coaches to headquarters staff, personnel and faculty. And as we lean into the aspect, the conversations about all of our civilian teammates. The first challenge that we faced is historically, the United States Air Force Academy has been over our civilian paid budget, and we've received great support from the Department of Air Force to address our over execution. This year is a little different, and so that has to be a baseline consideration as we understand that— that we have to hire and maintain civilian teammates within the budget that the American public has given us as a lean forward. And to that point, thank you to the Association of Graduates and the Foundation, as well as other Academy-focused foundations that have provided volunteer and funded volunteer support to give us that additional margin of excellence that helps us mitigate this matter. With respect to fiscal year '25, our Air Force is going through a reduction of civilian personnel to the tune of 5,000 billets. Of those 5,000 billets, the portion of the United States Air Force Academy was a part of was a 140 billets. And as we have moved through that reduction of 140 billets, we identified 104 billets as we went through our prioritization that were unencumbered or empty, but lower priority. Unfortunately, there are 36 billets that were encumbered, so someone inside of that billet as we move forward. And the goal with that is to continually work over the coming months of how we can move teammates laterally into open billets, either at the United States Air Force Academy or other locations. So we keep their expertise inside of the greater Air Force, Space Force enterprise, and our A1 team continues to work that aspect. But it's also making sure that we're being very clear with our teammates that when those billets become unfunded, at some point without funding, we're having to pay for that billet via other means. And so it's important for us to have frank conversations with our teammates, to say, “Update your resume. Start looking. At some point this will move forward.” With respect to our faculty members, 16 took advantage of the government's deferred resignation program, which was a well-funded early retirement program which allowed them to leave in the spring under and basically on admin leave and retain their pay to later in the fall/winter timeframe as that moves forward. We also had three that already had planned retirements, so they were moving forward. Unfortunately, we see a hiring freeze so no backfill. But also three whose terms are many of our senior faculty, our term employees, at the end of their term came. And so we have backfilled them with active-duty and Reserve military faculty to keep our academic progress going forward. And thanks to our dean and their team, they are, you know, quickly adjusting, but they are making the changes they need to ensure that we continue to offer the majors that we promised through the Class of '26 and continue to offer the courses as we move forward. For the fall semester, in addition to the three minors we've added, we've also added four additional classes, and there are 10 classes of the 753 in our course of instruction, there are 10 that we will not offer in the fall semester, but we will continue to still move forward.   Naviere Walkewicz Yes, sir, thank you for that. You talked about backfills. Can you talk about some of the most important competencies for those instructors, as they were backfilling these positions right?   Gen. Bauernfeind As I testified to the Senate earlier this spring, the two most important things to me inside of our classroom is: One is subject matter expertise, and we value the subject matter expertise brought to us by our professors, associate professors, our assistant professors, our permanent professors, our senior military faculty, and the depth they provide, initially with a master's degree, but more importantly, those Ph.D.s that were an extreme depth of that subject matter expertise. But also as a military service academy— that operationally relevant experience, how do they apply what they're learning in the classroom into their futures in the Air Force and Space Force, whether that be in labs on operational units and future battlefields, and how they can connect that to the future. And we have many of our civilian faculty are also veterans, who are able to bring that strong connection to bear as it moves forward.   Naviere Walkewicz Yes, sir. Well, you mentioned you were adding a couple a few minors. Have there been any majors that have been removed from the program, and has this affected our accreditation in any way?   Gen. Bauernfeind No, ma'am, no majors have been impacted during this time. Every single year, we go through a curriculum review, and we have a curriculum review committee where we will adjust as we move forward based upon guidance we receive from the Air Force and Space Force, but also what demand signals we're seeing from our cadets. You know what they're signing up for. But that is just an annual aspect to make sure that we have the right instructor core to support the curriculum we need to develop and educate our future leaders what the Air Force and Space Force is expecting. But zero majors have been eliminated from the United States Air Force Academy.   Naviere Walkewicz Thank you, sir for clearing that up.   Gen. Bauernfeind Oh, and accreditation. We're in a good spot with accreditation. We maintain continual conversation with our accrediting bodies, whether it be the Higher Learning Commission or several of the engineering- or STEM-focused accrediting bodies such as ABET, we're still in a good spot. In fact, this year, we just approved our quality initiative, which is a key aspect to sustaining not only our accreditation, but showing that we're continuing to improve ourselves, and that quality initiative will focus strongly on data science, throughout all of our curriculum.   Naviere Walkewicz Yes, sir. I think that's wonderful. I know a lot of graduates were, you know, maybe didn't have all the information, so I think that's wonderful that you just shared that. Something interesting you talked about your brief was some master's, a beta testing for a master's program, working with AFIT. Can you expand a bit more about that? And then do you see the Academy becoming a five-year institution, or we will stay four years, 47 months?   Gen. Bauernfeind Right now, I believe that we will still stay a 47-month program because our academic program is 47 months; our athletic program is 47 months, and most importantly, our leadership development and military program is 47 months. For the AFIT program, the vision is — these amazing young Americans come in with so much academic credit. Many of them now are part of the Martinson Scholar Program. And thanks to Mr. Martinson's great support, we have a program that can focus on them going even further. What we can offer them now, the majority are taking multiple majors and multiple minors. What if, in the future, you didn't want to do multiple majors or minors, but you want to go and start on your master's degree, which many other institutes of higher learning are offering in a parallel aspect? And so in conversation with Gen. Tullos, how can we start allowing cadets as early as their junior year start taking master's programs and achieve what would be required? Initial assessment is we will have some that can probably achieve it in 47 months, but probably the greater group will need to stay the Academy for maybe six or 12 more months as a second lieutenant to finish up their AFIT courseware. So they would stop their 47-month USAFA program, but continue with their master's program in the classroom in Fairchild and finish out their master's here. Is the vision— and we're working through this. I want to be very clear that this is beta. We have a lot to learn in this. And from my perspective, as I work with the Air Force to get greater support for this, this is going to be a strong cost saver for the Air Force. When our Air Force officers go to get master's degree, as a general rule, they are out of their operational career field for two years as they go to execute their 18-month AFIT program, plus two associated PCSs. Now we show not only a time saving, but a cost savings. And now these second lieutenants are entering, a portion of them, are entering their air force or Space Force with a master's degree. And it is not uncommon for many of our second lieutenants right now to even start their initial training, depending on what training is available until the spring of the next year after they graduate. So I see a strong promise, but we've got a lot of work to do to make it a reality.   Naviere Walkewicz Yes, sir. Well, that's creative and innovative thinking right there. I think that we're very excited to hear more about that, especially as the beta testing moves forward. Sir, maybe we can move into the warfighting realm. Graduates have been very interested in the renewed focus on warfighting that you've taken over the past year. What recent programs or military training taking place at USAFA right now are really supporting this development of the warfighter. Ready to lead on Day 1?   Gen. Bauernfeind So I believe we've always had a strong foundation of warfighting training, whether it be our airmanship programs, our powered flight programs, our jump programs, our special warfare programs and basic cadet training and cadet survival. But we're building upon that, and we're adding to those as great examples. As discussed earlier, if we can fight for the ammunition, we will have every single cadet qualify on both weapons every single year. The Class of '29 for the M18, the pistol, they qualified at a rate at about 65%. For the M4, the long gun, at a rate of 93%. I'm very proud of those numbers, because many of those young men and women— that was the first time they touched a weapon in their lives. And now, if they do it three more times before they graduate, those qualification rates are going to skyrocket, and they're going to have the confidence, when they deploy into harm's way, of their weapons. Additionally, thanks to the great work by the Cadet Wing, we have received 4,000 sets of chemical gear. And so not only in basic training, are they learning how to establish a forward operating base, defend it, but we're going past the days of where we walked into a tent, took our mask off and then dealt with the wonderful fluids that came out of our bodies. But now, going forward, to how are you going to conduct ATSO operations, or the ability to survive and operate in deployed locations with chemical gear on? And we're very proud to partake in some of that training with the basic cadets, and they are really taking to understanding what is required. And then the final aspect is, as discussed, the cadet warfighter instructor course, is acknowledging that to be really good at those items, we need some subject matter expertise. But the subject matter expertise required to lead, train and certify 4,000 cadets every year, we have to rely on cadet leaders, and as discussed, they're in the field as we speak in the inaugural cadet warfighter instructor course. And I look forward to seeing the feedback of how they will come back and do the squadrons. And tying that back to the cadets wanting more ownership of their training — the intent is 12 cadets inside of each cadet squadron that will now take on the responsibility through the academic year of that warfighter training that we will assess in the fall CULEX, and the ultimate assessment in the spring CULEX.   Naviere Walkewicz Sir, it really shows how you're building that expertise within the squadron to support the squadron commander so they really are taking care of their people. I think that's outstanding.   Gen. Bauernfeind And very excited about it.  And I just want to say thank you again, because it was due to the generosity of the Foundation that got us the seed to start the automation, with 29 Group 2, the smaller UAVs, as we see automation and all monitor warfighting, unleashing the cadets on how they're going to use those UAVs to defend their forward operating bases, to understand what's across the ridgeline as they move forward. And very excited to see where the cadets will take us in this, because I'm sure they're gonna be far more innovative than my generation.   Naviere Walkewicz Our generation, sir, yes, sir. Well, you talked about the four-class system and I think that was really relevant for our graduates to hear. How are cadets feeling motivated through this process? And have you seen them evolve over the past year since you started implementing that?   Gen. Bauernfeind I think the first aspect was— it took them time to truly understand what we were laying out as it went forward. And every year we do this, we will get a little more advanced at the end of the day. I think our four-degrees understood it. That was good. It was that they understood what it meant to be a teammate. What it meant to be a teammate, follower, and that was an easier aspect to develop them through. The team leaders at the senior NCO level for the two-degrees and the firsties as unit leaders, they started understanding that. The biggest challenge we saw was with the three-degrees. What does it mean to be a frontline, engaged supervisor? And we have to troop lead them through, “This is what it means to be a frontline, engaged supervisor.” That they are your subordinate. But to take best care of your people, you should know where they're from. You should know about their parents. You should know their dog's name. You should know where their birthday is. You should know when their next chemistry test is, when their next PT test is. And while you may not be able to tutor them on chemistry, you can gather and motivate them for, “Hey, if the PT test is three weeks out, let's go run together. Let's go get on the pull up bar together. Let's, you know, be engaged.” And the more you know your teammates, what I offer to you, whether it be in morning formation, noon meal formation, at the tables at Mitchell Hall, in the halls of your squadron, inside of 30 seconds you're gonna see your teammates, your subordinate, and you're gonna know if they're gonna have a good day or bad day, because you're close enough to know, just quickly, OK, they're gonna have a great day or something's going on. “Let's go take a walk. Let's figure out what's driving you down. And how can I, as a frontline engaged supervisor, start taking barriers out of your way?”   Naviere Walkewicz I mean, I can only imagine that giving them more pride, even now that they understand, “This is how I can be a frontline supervisor,” when you give us very specific examples. Well, if we might shift gears a little bit to admissions and graduation. Since we just had a class join us, and we had a class recently graduate, maybe you can tell us how the Class of '29 how they're faring so far.   Gen. Bauernfeind The Class of '29 are doing great. I am impressed by their professionalism. I'm impressed by their energy. And as you saw, as we just did the recent march back, they were loud and proud. That was really good as it went forward. And for the Class of '29, I'm proud to report that they are faring very well. Just so everybody knows, we had over 9,000 completed applications. We offered 1,411 offers of admission, and 1,112 took the oath on I-Day as it moved forward. We had cadets from every single state and territories of Guam and Puerto Rico, as well as 12 international cadets that joined us. Of those, 117 from Prep School came up the Hill. And then 76 are, you know, part of a prior Long Blue Line as it's coming forward as it goes. Of the Class of '29, 55% were in the top 10% of their class, and 96 were all invited on varsity sports. Right now we are, as coming out of basic training, of 1,095 and during that time, they're still going strong. We did have some teammates that didn't have a full appreciation of what military life was, or may not have been as impassioned about the Academy as their parents, and so we've parted ways with a few small numbers. But during basic training, I can proudly say— we talked about the qualifications on the weapons, but also say they took their very first PFT test, and looking back over the last five years, they, on average, scored 15 points higher than the last five years. And that's a testament to two teams, I would offer to you, well, not only the cadets themselves, who had to do it, but all of our admissions team that's out there saying, “Hey, congratulations, you've been admitted. Start preparing now.” But also our athletic director, athletic department team that was out there giving them good, focused training to prepare them for those physical fitness tests. And they just took PFT No. 2 a couple days ago, and we're accessing the data but all indications are it's trending up.   Naviere Walkewicz No, yes, sir. Those are outstanding numbers. As a country, we're seeing admission rates and the challenge of getting the best of the best into the door, the fact that we had such wonderful numbers coming in, and we're attriting very low, I think it's something we should be proud of.   Gen. Bauernfeind I'm very proud of it, but acknowledge it's a tough— it's a knife fight to get the best of the brightest, and so thanks to Air Education and Training Command and Accessions Command, we are going to try a new marketing contract this year to further make sure that the amazing young Americans throughout all four corners truly understand the opportunity in front of them with the Air Force Academy, and make sure they're aware of it. So I'm excited to see how that marketing campaign goes to even up our numbers, even a little bit more.   Naviere Walkewicz Awesome. Yes, sir. Well, sir, in the realm of athletics, last year, you shared an emphasis for cadet support and participation at more of our athletic events. What have you seen come from that? And what can you share about athletics, intramurals most currently?   Gen. Bauernfeind It's one of our three mission sets: athletics. And it's not just for our IC athletes. I jokingly tell some of the teammates to say, “Tell me about a cadets life.” It's like, well, they have three full time jobs, a military job, an academic job and an athletic job, and they really get a bachelor of science in time management. And that's as we go forward. But I've asked the athletic department, you know, during COVID, our intramural program atrophied, and now we have to see, how can we really enhance our intramurals as it goes forward. But I'm especially also proud of our intercollegiate athletes, 30 intercollegiate programs. When we talk about the blood, sweat, tears, the hard work that our IC athletes representing 25% of the Cadet Wing — they are really jumping in hard. And my expectations as the superintendent is all 30 of those programs earn home field advantage. And so we've recently published an operation order to the team as we look into the fall sports. And the basic synthesis of it is, protect this house. We will come strong to all home events, and we're working through that aspect. And so as a whole, not only will we figure out how to be strong at all of our home events, whether it be, you know, this fall with women's soccer, men's soccer, cross country, water polo, volleyball and, importantly, football. And proud to report here at our AOG that the entire Cadet Wing will be marching onto the football field and protecting this house and our amazing stadium at home games.   Naviere Walkewicz Yes, sir, thank you for that. That's fantastic. Sir, you know, you can't come out of this Air Force Academy, this 18,000 acres of amazing Academy, without seeing some of the changes, whether it's facilities or capabilities. You know, of course, there are two questions we hear often about the chapel in the box. When will the chapel be done? And then also, you know, what about the visitor center? When can we actually get into it?   Gen. Bauernfeind No, those are two great questions, Naviere. First of all, I think that the box has become so routine there that we received a formal request from cadet. So how can we have a — no kidding — drive in movie theater screen? And the request came in at $300,000 so we thought the prudent action was, let's get the chapel done so we can take the box down instead of putting up a new theater. But right now, for our chapel, again, it is an amazing piece of architecture, and to maintain the historical relevance and the hard work that went behind it, it's going to take time. Right now, we're on schedule for 2028 and we are focused on making sure all the involved teams take every single day out and we can find out as soon as possible when we have any sort of deviation, so we can swarm it. And so as such, we hold monthly meetings with IMSC — the Installation Management Sustainment Command — Air Force Civil Engineering Command, the Corps of Engineers, to go through all of our military construction projects so that if something comes up, we are aware of it within days of the issue, and we swarm it together instead of letting issues boil for a long period of time. And so excited to get the chapel back open as such a spiritual icon of the United States Air Force Academy. And spirituality is so important to the holistic leader's readiness— not just physical, mental, social, family, but also spiritual. And I think it will be important for that development. And then to the visitor center. We're on track to open up in May of '26 before the graduation, and excited to finally open that visitor center and share with a much wider audience what all of our alumni and we know of the amazing story behind the Air Force Academy, all the amazing exemplars who have come from our Academy. And I will share with you, I'm excited to get a whole ton of young Americans inside the visitor center so they can start getting excited about being part of the Class of 2032, 2038 and beyond.   Naviere Walkewicz Yes, sir. Well, they say things are worth the wait, good things are worth the wait, and I think the interactive displays that are gonna come with this are really gonna help people understand truly what our cadets go through.     Gen. Bauernfeind Absolutely. And thank you again to the AOG and Foundation. As money got tight, the Foundation came forward and we now have that beautiful glider, you know, in position that shows what all of our cadets are working through.   Naviere Walkewicz Yes, sir. Well, our sole existence is to support the Academy, serve our grads and prserve the heritage. Well, sir, I'm cognizant of your time. We're so grateful you're here today. Mind if I ask you one final question?   Gen. Bauernfeind Please do.   Naviere Walkewicz What's on your mind that you want to leave with our graduates to be thinking about when you think about our Academy and your vision and mission. What can you leave us with?   Gen. Bauernfeind I just want to thank the Long Blue Line. We are 55,000-plus strong. There have been so many of our alumni, every single one of us that have gone through this journey. And we're proud of this institution. And I just say, continue to support this amazing institution. Spread the good word of what our Air Force Academy is, because we want amazing young women, amazing young men that are in your communities, in your churches, at your work centers, to say, “Hey, have you heard about the Air Force Academy? That's the place for you, because our nation deserves the best.” And just a final thanks to the alumni, and as a superintendent, I'm proud to be in this position with my amazing teammates. And any alumni that wants to ask me, “What's the rest of the story?” I am always available. Please hit me up in the hallways, on the Terrazzo, on the field, and I look forward to your conversations.   Naviere Walkewicz This has been a special edition of the Air Force Gradcast. On behalf of the Long Blue Line Podcast Network and the U.S. Air Force Academy Association & Foundation, thank you for joining us. It's been a privilege to hear directly from Lt. Gen. Bauernfeind and to share updates and perspectives relevant to graduates across our Academy community. Thank you for your continued connection, commitment and support of our United States Air Force Academy. I'm Lt. Col. (Ret.) Naviere Walkewicz, Class of '99. Until next time.       The Long Blue Line Podcast Network is presented by the U.S. Air Force Academy Association & Foundation  

(00:00:00) Xadrez Verbal #431 Eleições na Bolívia (00:04:55) Giro de Notícias #01 (00:14:55) Coluna Aberta: Oriente Médio (00:51:55) Efemérides: A Semana na História (00:56:30) Match: Guerra na Ucrânia (01:44:55) Xeque: América Latina (02:55:10) Gambito da Dama (03:09:15) Giro de Notícias #02 (03:18:15) Peões, dicas culturais e encerramento Teremos segundo turno na Bolívia! Demos aquele tradicional pião pela nossa quebrada latino-americana, com destaque para primeira eleição boliviana em vinte anos sem vitória da esquerda.Também observamos o movimento das peças no sempre complicado tabuleiro do Oriente Médio e repercutimos as cúpulas sobre a guerra na Ucrânia com Donald Trump recebendo Vladimir Putin, no Alaska, e as principais lideranças europeias em Washington.Conheça o Talent Lab e Ultra Lab da Alura: https://alura.tv/xadrezverbalAgende uma reunião com a Rio Claro Investimentos: https://rioclaro.com.br/xadrezverbal/Campanha e comunicado sobre nosso amigo Pirulla: https://www.pirulla.com.br/

Episode #166 | Season 8 Episode 7 [R] While I was on vacation -- another teacher at Lake Mills Community School District was involved (allegedly) in another inappropriate interaction with a minor/ someone pretending to be a minor. News broke about Skyler Ahrens, a local PE teacher and coach at the school was arrested and charged with multiple counts of disseminating obscene material to a minor, grooming, and sexual exploitation of a minor following a Winnebago County Sheriff's Office undercover investigation. To report and address child exploitation, utilize the following hotline resources:Call the National Child Abuse Hotline at 1-800-422-4453 for immediate assistance.Report online at the National Center for Missing & Exploited Children (NCMEC) website.Contact local law enforcement if you suspect immediate danger to a child.Reach out to Child Protective Services (CPS) in your area for support and intervention.Use the CyberTipline to report online exploitation or abuse.Educate yourself on signs of child exploitation to better recognize and report it.LINK: https://linktr.ee/comediandaypeace

When preparing for fundraising or an exit to private equity, one overlooked metric can derail your deal: customer concentration risk. In episode #308, Ben Murray explains what customer concentration is, why it matters to investors, and how it can directly impact your SaaS valuation. If too much of your revenue comes from just one or two customers, that risk may scare off private equity buyers or lower your valuation. Ben breaks down how to measure concentration, when it becomes a problem, and why you should start planning now — long before you enter a due diligence process.What You'll Learn• What customer concentration is and how to calculate it.• Why concentration risk is a key investor metric in fundraising and exit planning.• How high concentration can lower a company's valuation.• The difference between strategic buyers and private equity when assessing risk.• Why SaaS operators must monitor revenue mix as part of long-term financial strategy.Why It Matters• Finance & fundraising impact: High concentration can reduce your chances of raising capital or exiting at a premium.• Valuation risk: Heavy reliance on a small number of customers lowers buyer confidence.• Investor confidence: PE firms and strategic buyers want diversified, predictable revenue streams.Resources MentionedSaaS Metrics for Investors – What Drives Valuation: https://www.thesaasacademy.com/the-saas-metrics-foundationQuote from Ben“If one customer makes up 25% of revenue, that's a huge risk to a buyer — especially in private equity.”

This episode is a compilation of answers to YOUR questions that were asked directly from my listeners who attend my weekly business education YouTube live webcast. Topics covered include: How to diversify as a growth investor, How to reinvent my life and career, Why writing a business plan is so important and more.   Refer to chapter marks for a complete list of topics covered and to jump to a specific section. Download my free "Networking eBook": www.harouneducation.comAttend my weekly YouTube Live every Thursday's 8am-11am PT. Subscribe to my YouTube Channel to receive notifications. Learn more about my MBA Degree ProgramConnect with me: YouTube: ChrisHarounVenturesCompleteBusinessEducationInstagram @chrisharounLinkedIn: Chris HarounTwitter: @chris_harounFacebook: Haroun Education Ventures  TikTok: @chrisharoun300How to forecast a P/E ratio

In this follow-up to our Private Equity 101 episode, we're joined by Sarah Purlee, Head of HR at S&S Truck Parts, to explore what it's really like to lead HR inside a PE-backed company. We dig into how HR creates value in private equity, what makes the environment unique, and what HR pros should know if they're working in — or curious about — the PE space. Be sure to leave us a review and rating wherever you listen to your podcasts. Also, connect with us via our LinkedIn group or email at info@hrunconfidential.com.

Finanskursen⁠ presenterar Mineros på P/E 2,5 på kursen 2,80 CAD som Sydings absoluta favoritaktie det kommande året. Bolaget transformeras i år från "farmer to hunter" under nya huvudägarna Sun Valleys ledning efter förvärv av 65% av aktierna.Finanskursen ger fram till 31 augusti förtur till s.k. tidiga ansökande. Det kostar såklart inget att ställa sig i kö. Den engelska versionen på 6 veckor, The Investing Course, går parallellt.OBS: inget i detta avsnitt eller dess beskrivning ska anses som investeringsrekommendationer.

¡¡ NUEVO PODCAST!! -Dr. Reyes Haro Valencia… “El sueño y el regreso a clases” -Cartelera Cinematográfica. José Antonio Valdés Peña-Ivonne Vargas… “El Trabajo  y  la Tercera Edad” -Arturo Ortiz Arias y Antonio Méndez Hernández. Directores de La Única Internacional Sonora Santanera… “Próximas Presentaciones”(Auditorio Nacional, Monterrey y Europa)  

Private equity is a business operation where companies are bought and run at their leanest to maximize returns for a handful of investors. It can be a lifeline for a flailing company or run it into the ground. Either way, PE firms make out like bandits.See omnystudio.com/listener for privacy information.

In this episode of Excess Returns, we welcome back Tobias Carlisle — author, host of Value After Hours, and manager of the Acquirers Funds. Toby shares his candid perspective on market valuations, value investing's long struggle, and why he still believes mean reversion will eventually swing back in favor of small caps and value stocks. We also dive into AI, global markets, the Fed, housing, and where investors might find opportunity outside today's expensive U.S. mega-caps.Market valuations: why today's market may be more expensive than 1929, 2000, or 2020The pitfalls of relying on single-year P/E ratios and better long-term valuation measuresThe divergence between the “Magnificent 10” and the rest of the marketSmall caps, mid caps, and value: where Toby sees opportunity despite an earnings recessionAI as both a transformative force and a potential bubble-like capital cycleU.S. vs. international markets: structural advantages of American capitalism and where China is catching upThe Fed, interest rates, inflation, and how they really matter for value investorsHousing affordability and demographics as headwinds for the U.S. economyWhy Toby believes the “value vs. growth jaws” will eventually close00:00 – Are markets more expensive than 1929 and 2000?04:00 – Breaking down valuation charts: S&P, Russell, and mid/small caps10:00 – Why single-year P/Es mislead investors14:00 – Lessons from past bubbles: Nifty 50, dot-com era, and now19:00 – Large vs. small: the longest run for growth in history24:00 – AI's impact: transformative technology or capital cycle trap?32:00 – Toby's personal experience with AI (and why it disappoints him so far)33:00 – U.S. advantages vs. international markets and China's rise41:00 – Are today's U.S. valuations justified?45:00 – The Fed, interest rates, and speculation46:00 – Housing affordability and demographics as headwinds55:00 – Should value investors care about macro?59:00 – Closing question: Toby's contrarian belief on value vs. growth

Photronics (PLAB) is a legacy tech company that David Trainer says has gone completely unnoticed by Wall Street for what he considers as a key role in the A.I. space. He points out its photomask development as critical to building chips. As for its financials, David adds that it continues to post solid growth and trades at a cheap P/E compared to peers. While he considers the company an "under the radar" leader, he notes competition as a headwind Photonics will face.======== Schwab Network ========Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about

Christopher Tsai is a deeply thoughtful growth investor. He became one of the foremost collectors of the works of Ai Weiwei, recognising their implicit value and deeply studying the artist. His concentrated portfolio reflects his attraction to growth stocks with Tesla his largest position. In our conversation, he explains why he believes Tesla has deep moats across multiple verticals; why he thinks many of the growth stocks in his portfolio have optically inflated valuations as they invest now to create future value; why the second largest position in his portfolio is QXO, with his father, also a famous investor, being one of Brad Jacobs' original backers; and what he looks for in managers. I am trying to meet more growth investors to understand their strategy better. Christopher's portfolio is too racy for me, at over a 60x P/E multiple on my estimates when we recorded and probably higher today, but he makes an interesting case for holding long-term compounders.

Na intersekciji podcasta Dopisi iz Diznilenda i ExKurs Podcast nalazi se Peder, Pop i Pravnik Podcast. Miljan (Peder) kao poveznica između Vukašina Milićevića (Pop) i Nemanje Paleksića (Pravnik). Sve teme iz oba podcasta i one kojima u njima nema mesta, ovde, na jednom mestu. Vidimo se (i čujemo), za sad, dvaput mesečno. U današnjoj epizodi bavimo se post festumom saslušanja Vukašina i Blagoja u crkvenom sudu, pa Nemanja pita Miljana da li bi isključenje iz SPC bilo toliko strašno i da li bi mogao da se pričešćuje onda drugde. Govorimo naravno i o aktuelnim protestima i brutalnosti države, lagano se dotičemo teme Milorada Dodika i sastanka Putin/Tramp (opširnije u Diznilendu), a zatim odgovaramo na pitanja publike iz prethodnih emisija: Vukašinova priča o mističnim iskustvima, etnofiletizmu, šta nam smeta o. Peđa Popović, kako je Beogradski Sindikat služba i kako Miljan povezuje to što je peder i hrišćanstvo/Crkvu. I za kraj, neke preporuke i obavezna poezija mitropolita Fotija. PLUS: Aktivirali smo YT članarinu - možete za 400 RSD mesečno postati članovi kanala, uz to dobijate bedeževe uz nick (koji se menjaju zavisno od trajanja članstva), vaši komentari biće istaknuti i prioritet za odgovor i čitanje pitanja - to je to za sad, a aktiviraćemo još neke benefite u budućnosti. Pratite nas na: https://www.youtube.com/@dopisiizdiznilenda www.facebook.com/DopisiizDiznilenda/ www.podcast.rs/autori/dopisi-iz-diznilenda/ Ako želite da nam pomognete u održavanju servera na soundcloudu, uplate rado primamo na PayPal: mtanic@gmail.com ili postanite naš patron na www.patreon.com/dopisi Snimak saslušanja Blagoja Pantelića u crkvenom sudu: https://teologija.net/moje-saslusanje-pred-crkvenim-sudom/ Miljanov tekst na Peščaniku: https://pescanik.net/lov-na-vestice/ Miljan: fb: /mtanic, Twitter/Instagram: @mtanic YouTube: /Mtanic Nemanja: fb: /paleksic @diznilend iTunes: itunes.apple.com/us/podcast/id1223989792 Stitcher: https://www.stitcher.com/show/dopisi-iz-diznilenda-podcast Pocket Casts: pca.st/pT2h podcast.rs/show/dopisi-iz-diznilenda/ Spotify: https://open.spotify.com/show/4U3wm6QOkJ30QEbk1kvqZS?si=RM6QdrOlTuO0WUJzYBl7hA

Peça o seu guia enviando um Pix de R$ 20 para podcastbelgrado@gmail.com ou assine conteúdo do Belgradão: www.cafebelgrado.com.br

Pełnej wersji podcastu posłuchasz w aplikacji Onet Audio. W najnowszym odcinku podcastu Raport Międzynarodowy Witold Jurasz i Zbigniew Parafianowicz rozmawiają o defiladzie z okazji Święta Wojska Polskiego. Obydwaj prowadzący zauważają, że tym razem naprawdę można było poczuć dumę i względne poczucie bezpieczeństwa. Polskie Siły Zbrojne dysponują już bowiem nowoczesnym sprzętem, a celebracje nie sprawiały wrażenia parady Muzeum Techniki. W podcaście mowa jest też o rocznicy śmierci Darii Duginy oraz o stworzeniu przez Ukrainę pocisków rakietowych o zasięgu 3000 kilometrów, które przenoszą ładunek o wadze jednej tony, tym samym Kijów zyskał bardzo poważne możliwości bojowe.   O tym usłyszą Państwo w dostępnym na naszej stronie głównej i kanale YT fragmencie. Pełna wersja podcastu Raport Międzynarodowy dostępna jest w subskrypcji Onet Premium, a w niej Jurasz i Parafianowicz skupiają się na ocenie szczytu, który miał miejsce pomiędzy Donaldem Trumpem i Władimirem Putinem na Alasce. W ocenie obydwu prowadzących prezydent Stanów Zjednoczonych poszedł na zbyt daleko idące ustępstwa, czego wyrazem było również to, że nikt już nie mówi o nałożeniu sankcji na Rosję. Przechodząc do szczytu pomiędzy przywódcami Stanów Zjednoczonych, Ukrainy i europejskimi liderami w Waszyngtonie, Zbigniew Parafianowicz i Witold Jurasz zgadzają się, że wynikał on z obawy Europy o dużą pobłażliwość Trumpa względem rosyjskich żądań. Na pytanie Jurasza, specjalizujący się w tematyce ukraińskiej Zbigniew Parafianowicz zauważa, że Ukraina jest przy tym gotowa na ustępstwa, które idą znacznie dalej niż zazwyczaj jest to odbierane w Polsce. Obydwaj prowadzący zastanawiają się też, czy realne jest powstanie misji stabilizacyjnej w Ukrainie z udziałem wojsk państw zachodnich.  Witold Jurasz i Zbigniew Parafianowicz dociekają przyczyn nieobecności Polskiej reprezentacji w Waszyngtonie i jednoznacznie stwierdzają, że była to niestety porażka naszego kraju. Witold Jurasz w tym punkcie w bardzo jednoznaczny i bezwzględny sposób rozprawia się z tymi, którzy próbują uzasadniać to dyplomatyczne fiasko, twierdząc, że tak naprawdę nieobecność w Białym Domu wyszła nam na dobre. Tego rodzaju próby usprawiedliwiania naszej porażki są żałosne.  W dalszej części prowadzący spierają się o to, czy fakt, iż pomoc Zachodu dla Ukrainy przekazywana jest przez lotnisko w Rzeszowie może być w jakikolwiek sposób skapitalizowana przez naszą dyplomację. W ocenie Jurasza Rzeszów nikogo nie obchodzi, dlatego, że wszyscy rozumieją, że Polsce zależy na tym, by Ukraina broń otrzymywała. Odnotowany zostaje też tekst byłego ambasadora Stanów Zjednoczonych w Polsce Daniela Frieda, który inaczej niż nasi rodzimi eksperci nie wyklucza, że do porozumienia pomiędzy Rosją a Ukrainą jednak dojdzie.     Na końcu obydwaj prowadzący odnotowują pożegnalną wizytę ambasadora Rosji Siergieja Andriejewa u dziekana korpusu dyplomatycznego, w którym tradycyjnie uczestniczył nuncjusz apostolski. Witold Jurasz i Zbigniew Parafianowicz stwierdzają, że żegnają ambasadora Rosji bez szczególnego żalu. Jednocześnie cieszą się z wielu lat spędzonych przez ambasador Andriejewa w Polsce. Rosyjski dyplomata żywił nieukrywaną niechęć do naszego kraju, co z pewnością jemu nastręczyło w czasie pobytu wielu przykrości, a nas pozostawiło z delikatnym schadenfreude. 

Should You Build a Business from Scratch or Buy One that's Already Working?In this episode, Bill sits down with Matt Raad, founder of the eBusiness Institute and veteran business buyer, to explore the world of digital acquisition, business turnarounds, and intentional exits. From a humble start in zoology and manufacturing to flipping multi-million dollar websites, Matt's journey highlights how you can build wealth through strategic business acquisitions.Topics explored in this episode:(07:00) Buying a Bankrupt Business*Working with a shady accountant, buying a bankrupt business, and the accidental M&A lesson.*Early inspiration from Zig Ziglar, Brian Tracy, and “What They Don't Teach You at Harvard Business School.”(10:30) Turnarounds that Worked and One That Didn't*Why Matt's retail experiment failed.*The power of simply raising prices and boosting sales.*Preparing a business for exit with minor tweaks, not reinvention(20:20) Discovering the Digital Goldmine*Moving from bricks and mortar to passive digital income.*Why Matt avoided eCommerce and leaned into affiliate websites.*How his first $20k website changed everything.(26:00) Built to Sell: Why Your Exit Strategy Starts Now*Sell on the way up, not at the peak.*Most founders wait too long and lose their best valuation.(31:50) Equity, Earnouts, and Strategic Sales*PE vs. strategic buyers: which gets you the better multiple?*Stories of regret from entrepreneurs who sold equity too early.*How smart PE groups structure incentives for better exits.(41:55) Shared Ownership Isn't Always a Bad Thing*Why giving shares to store managers and salespeople drives better performance.*A proven incentive structure from one of Matt's mentors.Thanks to Matt Raad for being on the show!Learn more about Matt: https://www.ebusinessinstitute.com.au/Listen to Matt's podcast: https://www.digitalinvestors.com/podcast/Bill Gallagher, Scaling Coach and host of the Scaling Up Business podcast, is an international business coach who works with C-Suite leaders to achieve breakthrough growth. Join Bill in the Growth Navigator Coaching Program: https://ScalingCoach.com/workshop Bill on LinkedIn: https://www.LinkedIn.com/in/BillGallBill on YouTube: https://www.YouTube.com/@BillGallagherScalingCoach Visit https://ScalingUp.com to learn more about Verne Harnish, our team of Scaling Up Coaches, and the Scaling Up Performance Platform, which includes coaching, learning, software, and summit. We share how the fastest-growing companies succeed where so many others fail. We help leadership teams with the biggest decisions around people, strategy, execution, and cash so that they can scale up successfully and beat the odds of business growth. Did you enjoy today's episode? If so, then please leave a review! Help other business leaders discover Scaling Up Business with Bill Gallagher so they, too, can benefit from the ideas shared in these podcasts.Subscribe via Spotify:

Most founders don't need venture capital — they just need the truth about their options. In this episode, Greg Head, Founder of Practical Founders and Gregslist, shares why most founders don't need to follow the venture capital path to succeed —and how alternative strategies often lead to better outcomes. Greg draws on three decades of software industry experience and his deep network of over 500 founders and investors to challenge the funding-first mindset. Specifically, Greg shares:00:00 Introduction03:30 Founders should not take VC funding without knowing the risks.12:00 Startups were once wild bets — now many founders misread VC expectations.20:06 Software is cheaper now, so VC isn't needed to launch or grow.25:09 Investors outside Silicon Valley fund traction, not ideas.30:09 Practical companies grow with healthier habits and true independence.35:36 Seven paths to success start with building a profitable company.40:57 PE firms are buying revenue for faster IPO leverage.47:29 Every founder can win in their own way with the path that fits them best.50:16 Founders used to raise millions without taking any money off the table.59:19 Product-market fit requires focus on the right segment and solution.Resources Mentioned:Greg Headhttps://www.linkedin.com/in/gregheadaz/Practical Founders | LinkedInhttps://www.linkedin.com/company/practical-founders/Practical Founders | Websitehttps://practicalfounders.com/Gregslist | LinkedInhttps://www.linkedin.com/company/gregslist/Gregslist | Websitehttps://gregslist.com/Practical Founders' Ebook – “The 7 Success Paths for Practical Founders”https://practicalfounders.com/7-success-paths-to-win-the-startup-end-game/This episode is brought to you by:Leverage community-led growth to skyrocket your business. From Grassroots to Greatness by author Lloyed Lobo will help you master 13 game-changing rules from some of the most iconic brands in the world — like Apple, Atlassian, CrossFit, Harley-Davidson, HubSpot, Red Bull and many more — to attract superfans of your own that will propel you to new heights. Grab your copy today at FromGrassrootsToGreatness.com.Each year the U.S. and Canadian governments provide more than $20 billion in R&D tax credits and innovation incentives to fund businesses. But the application process is cumbersome, prone to costly audits, and receiving the money can take as long as 16 months. Boast automates this process, enabling companies to get more money faster without the paperwork and audit risk. We don't get paid until you do! Find out if you qualify today at https://Boast.AI.Launch Academy is one of the top global tech hubs for international entrepreneurs and a designated organization for Canada's Startup Visa. Since 2012, Launch has worked with more than 6,000 entrepreneurs from over 100 countries, of which 300 have grown their startups to seed and Series A stage and raised over $2 billion in funding. To learn more about Launch's programs or the Canadian Startup Visa, visit https://LaunchAcademy.ca.Content Allies helps B2B companies build revenue-generating podcasts. We recommend them to any B2B company that is looking to launch or streamline its podcast production. Learn more at https://contentallies.com.#Bootstrapping #SaaSFounders #StartupGrowth #Product #Marketing #Innovation #StartUp #GenerativeAI #AI

In this episode, a multidisciplinary panel of PE experts take learners on a deep dive into Deep Vein Thrombosis (DVT). Listen as they cover the latest in DVT diagnosis and treatment, exploring both clinical considerations and ever-evolving approaches.

We know. Failing the PE Exam stings.

Mr. Johnson & Mr. Yergin stop by the podcast to talk about all things science! Mr. Johnson talks about the upcoming volleyball season, and Mr. Yergin talks about his drone and PE classes. GO BEARS!

欢迎收听雪球出品的财经有深度，雪球，国内领先的集投资交流交易一体的综合财富管理平台，聪明的投资者都在这里。今天分享的内容叫聊聊白酒板块上涨的2个新逻辑。来自超级定投家主理人。这几天，从3600点到前期高点3674点，再到昨日盘中冲击的3700点关口，随着关键点位的接连突破，市场投资者情绪持续升温。但在经历了一波上涨后，可能很多投资者朋友会有这样一个问题：现在还有哪些估值洼地，是值得关注和挖掘的？为了回答这个问题，我们列出了所有申万一级行业&主要宽基指数中，现在市盈率分位数还在60%以下的行业。——而其中，第一名是食品饮料（白酒）。因此，今天，就用这篇文章来分析下，白酒板块到底还有没有投资价值。首先，白酒有一个很大的优势：本轮行情后，白酒仍在低估区。白酒，相信大家都不陌生。辉煌时，白酒板块的龙头个股，曾位居A股市值第一名，行业整体也在2020年创下过一年100%+的涨幅奇迹。但在今年，白酒走出了逆势下跌的行情。无论是从绝对涨跌幅还是从行业间排名来看，白酒的表现都比较靠后，估值也回落到了2%分位数的历史极低位。看着军工、医药、银行等板块的轮流登场，不少投资者朋友，难免生出“我在白酒躲牛市？”的疑问。事实上，如果我们用逆向思维来看，就会发现目前白酒有一个很大的优势——估值洼地。目前，食品饮料的市盈率分位数在各主要的行业和宽基指数中，是最低的一个。而食品饮料中的重仓股，主要就是白酒。作为一个曾经领涨过的板块，市场目前可能最关心的问题是这2个：白酒，到底跌完了没有？哪些必要条件下，白酒能走出新的行情？其次，我们在分析为什么跌之前，先复盘一下2020白酒为什么涨。白酒在2020年的牛市里，是领涨的品种，区间最大涨幅达到294.80%，同期万得全A指数仅上涨43.26%。在分析当前的投资价值之前，我们不妨先看看上一轮行情中的上涨原因。原因一是行业的顺周期属性。我们之前就在解析消费行业的文章《一文读懂2025年消费细分行业分析：是“宝藏”还是“风险”？》中说过，白酒是顺周期属性比较凸显的一个消费品种。房地产拿地、开发环节涉及到的商务洽谈较多、金额较高，带动了商务用酒需求。货币化安置和房价的持续上行，带动居民财富水平大幅提升，使得大众消费力迅速升级，有高端消费属性的白酒行业也受益较多。所以2020年，受益于疫后经济复苏+货币政策的宽松，正是一个地产上行的周期，白酒迎来了比较顺风的宏观环境。原因二是行业景气度较好。消费升级的大背景下，白酒迎来价升潮，许多酒企在提升了出厂价的情况下，销量并没有明显受影响，因此综合的业绩也显著提升了。2018年开始，白酒股前十大龙头的营收增速和净利润增速均超20%，拉开新一轮白酒牛市序幕。原因三是估值有吸引力。2019年，许多白酒股票的PE估值回落至20倍左右，估值有吸引力。同时，2020年新冠疫情导致市场风格趋于保守，投资者开始偏好确定性更强的消费行业，带动消费股估值出现上升。原因四乘上主动权益基金发展的东风。2020-2021年，恰巧是公募基金飞速发展的两年，股票型和混合型基金规模快速增长。而作为主动权益基金重仓板块的白酒，也受到了大量增量资金的涌入而受益。总结来说，白酒上一轮的领涨，是宏观上行+行业景气+估值合理+增量资金充裕，这些多方面因素共振的结果。不过，后面的事我们也都知道：由于经济增速放缓+地产周期下行+消费信心回落等因素，白酒板块从2021年12月开始下行，发生了持续32个月、幅度59%的回撤，导致很多持有人的体验不是很好，甚至现在提到这个板块都是“又爱又恨”的心情。最后，2个关于白酒板块上涨的新逻辑，正在发生。2020年白酒牛市的原因总结下来，其实还是行业本身的顺周期属性，正好遇上了地产上行和消费需求升级的经济周期。那么短期内，这种情况再现的可能性如何？从经济周期层面来看，近期的地产、社零数据都还处于企稳弱复苏的阶段。刚刚公布的7月社融和信贷数据，均低于市场预期，信贷数据比较罕见地出现了单月负增长的情况，这都显示内生性融资需求是偏弱的。同时，地产这种高度依赖杠杆的行业，也很难在短期内回到2020年的景气度。但从行业层面来看，白酒有2个新逻辑，正在发生。一个是，困境反转机会。虽说当前白酒的基本面情况并不是很乐观——头部酒企的产品价格持续下行，动销数据表现较弱，业绩增速下跌，估值位于历史低位。同时，政策面上也有一些不利，“禁酒令”对商务聚餐中的白酒消费限制比较狠，这些都是白酒“困境”的体现。不过，也有一些反转的势能：市场环境上，公募基金对白酒的持仓已经显著下降。截止到2025Q2，公募基金对白酒板块的重仓占比为4.99%，低于沪深300中的比例6.5。这说明，行业的拥挤度已经大大缓解。而且，正如本文开头的表格所示，目前白酒的估值很低，PE已经来到了近10年的2%分位数；相比之下，万得全A当前的PE分位数超过80%。另一个是，红利资产的逻辑。这几年，红利投资的关注度大大提升。以保险机构为代表的稳健投资者，对红利股的需求是长期、大量存在的，特别是在债券收益率普遍不足2%的背景下。但是，今年以来，其他几个典型的红利主题行业，都面临了一些各自的问题：煤炭和地产，正处于价格持续下行的周期，股息率高是高，但难以完全弥补股价下跌的损失；银行在经过几年的上涨后，很多投资者都开始犯“恐高症”；水电的股息率也明显下降，目前已经到3%以下。此时，白酒，特别是其中的龙头企业，凭借其稳定现金流和盈利能力，有望成为红利主题中的另一个典型。目前，白酒指数的股息率是4.12%，从历史分位数来看已经到了97.78%。总体而言，随着宏观环境和消费结构的变化，白酒的定位正在发生转变。2020年时，白酒是依赖经济周期波动、具备较强弹性的顺周期成长型行业；而到了2025年的现在，白酒正在向更加注重稳定现金流和持续分红能力的价值红利型资产切换。如果在当前的宏观和市场环境下，仍然以高成长、高弹性的逻辑去思考白酒，那么可能难免会感到失望，也会面临“在白酒躲牛市”的困惑。但如果转变思路，用更长期价值的眼光观察白酒。那么，在热点频出的市场环境下，价值型投资的收益虽然通常不会排在前列，不过当发生大回撤时，也通常温和得多，因此长期价值仍值得关注。

Lazlo and SlimFast think the conspiracy about Taylor Swift performing at the Super Bowl is a total reach. The guys get heated over the TikTok Hazelnut Café drama, and Lazlo shares his college football bets. In Headlines, the guys cover Zelensky's visit following Putin, the Brooklyn club shooting, a Southwest pilot's DUI, a local PE teacher charged with assault, a hiker trapped behind a waterfall, a judge misreading a verdict, and much more! Stream The Church of Lazlo podcast on Apple Podcasts, Spotify, or wherever you get your podcasts!

How do you go from zero experience to landing a Big Four corporate finance role — beating out 200+ other candidates for just one seat?

Recebemos Jéssica Pinheiro para fazer uma incursão profunda no universo de NieR: Automata, mais um fruto da caótica e brilhante carreira de Yoko Taro. De suas origens improváveis, passando pela diversas rotas da história, carismáticos NPCs e peças de teatro, tentamos responder essa charada críptica que algum deus nos desafiou a desvendar. 00:01:10 - Pré-lançamento 00:39:14 - Início do Jogo 03:34:28 - Rota B 04:25:17 - Rota C 04:56:03 - Peças de Teatro 05:14:25 - Final D e E 06:22:48 - Concertos 06:41:51 - Considerações Finais Contribua | Twitter | YouTube | Twitch | Contato

Shawn O'Malley and Daniel Mahnke break down Lululemon (ticker: LULU), an iconic brand famous for pioneering the now ubiquitous athleisure industry. Lululemon has a fiercely loyal customer base, with industry-leading rates of repeat customers, sales per square foot of retail space, and very little need for discounting, if any. In this episode, you'll learn about why the market has soured on this powerful brand, despite incredible success growing internationally, leaving its P/E ratio at a relatively low 15-16x. You'll also learn about how Lululemon controls all of its touchpoints with customers, selling primarily DTC, as opposed to wholesale like Nike and Adidas do, as well as whether LULU is attractively valued today, plus so much more! IN THIS EPISODE, YOU'LL LEARN 00:00 – Intro 04:23 - Why Lululemon has such a cult-like following. 07:19 - What makes Lululemon products so special. 15:41 - How new competitors are challenging Lululemon on the margins. 20:59 - How the future of Lululemon may be defined by China and menswear. 26:48 - Why the setup for LULU stock may be even more attractive than Nike. 53:48 - What to know about possible yellow flags with the business, like its declining inventory turnover ratio and expanding cash conversion cycle. 01:01:57 - Why the company's acquisition of the sports-tech hardware company, Mirror, failed so miserably. 01:07:15 - How to think about modeling LULU's intrinsic value. 01:16:16 - Whether Shawn and Daniel add LULU to their Intrinsic Value Portfolio. *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Sign Up for ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Intrinsic Value Community.⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Clay Finck and Kyle Grieve's discussion of LULU on We Study Billionaires. How Vuori and Alo are taking on Lululemon. Explore our previous Intrinsic Value breakdowns: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Uber,⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Nike,⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠Reddit,⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠Nintendo⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Airbnb⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠AutoZone⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Alphabet⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ulta⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠John Deere⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Madison Square Garden Sports⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Check out the books mentioned in the podcast ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. NEW TO THE SHOW? Follow our official social media accounts: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TikTok⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Browse through all our episodes (complete with transcripts) ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Try Shawn's favorite tool for picking stock winners and managing our portfolios: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Finance⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Enjoy exclusive perks from our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠favorite Apps and Services⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ SPONSORS Support our free podcast by supporting our ⁠sponsors⁠: ⁠Harvest Right⁠ Connect with Shawn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Twitter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Email⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Connect with Daniel: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Twitter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Email⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Episode 2684- Vinnie Tortorich welcomes "rogue" dietitian Shannon Davis, and they discuss hitting the tipping point, PE in schools, and weight loss drugs. https://vinnietortorich.com/2025/08/the-tipping-point-with-Shannon-Davis-episode-2684 PLEASE SUPPORT OUR SPONSORS YOU CAN WATCH THIS EPISODE ON YOUTUBE - The Tipping Point Shannon Davis is a registered dietitian, but she describes herself as a “rogue” dietitian. (1:30) She has worked in organ transplant centers. Fatty liver disease is a carbohydrate or sugar problem, but patients were never taught that. Patients had always been told it was a problem with fat, protein, or fried foods. Dietitians need to be reflective and question the information they are recommending. (3:30) As a pharmaceutical rep, she realized she was peddling meds and not helping, and she hit her tipping point. (5:00) She discovered the low-carb and ketogenic health space, and now she feels she has found her purpose in teaching a healthy lifestyle. They discuss misinformation regarding carbs and “complex carbs.” (14:00) Shannon reviews her medical education and what she was advised to teach diabetics about carbs. (15:00) Besides interventions in dietary guidelines and metabolic health, The Presidential Physical Fitness Test for students should be required in schools again. (33:00) Kids have become sedentary, and they become adults who sit in cubicles. (42:00) The amount of medications prescribed for metabolic health is skyrocketing. (45:00) Weight Loss Medications Shannon is not opposed to medications; however, she firmly believes there is a place for them when truly necessary. (49:00) However, GLP-1s are overprescribed without a full understanding of their side effects, and oftentimes for minor weight loss. For example, hyperplasia: fat cells get smaller, but they multiply. This means that when you get off the drug, you will gain fat back, and in larger amounts. Side effects are loss of muscle and bone, digestive paralysis, optic nerve damage, erectile dysfunction, suppressed autophagy, and much more. There are natural ways to boost your own body's GLP-1. (57:00) You can find Shannon Davis on Instagram @sldavis6580 Her website is here: If you are interested in the NSNG® VIP group, Vinnie plans to open it again soon! You can get on the wait list - More News Don't forget to check out Serena Scott Thomas on Days of Our Lives on the Peacock channel.  “Dirty Keto” is available on Amazon! You can purchase or rent it . Make sure you watch, rate, and review it! Eat Happy Italian, Anna's next cookbook is available!  You can go to  You can order it from .  Anna's recipes are in her cookbooks, website, and Substack–they will spice up your day!  Don't forget you can invest in Anna's Eat Happy Kitchen through StartEngine.  Details are at Eat Happy Kitchen.    PURCHASE  DIRTY KETO (2024) The documentary launched in August 2024! Order it TODAY! This is Vinnie's fourth documentary in just over five years. Visit my new Documentaries HQ to find my films everywhere:  Then, please share my fact-based, health-focused documentary series with your friends and family. Additionally, the more views, the better it ranks, so please watch it again with a new friend! REVIEWS: Please submit your REVIEW after you watch my films. Your positive REVIEW does matter! PURCHASE BEYOND IMPOSSIBLE (2022) Visit my new Documentaries HQ to find my films everywhere:  REVIEWS: Please submit your REVIEW after you watch my films. Your positive REVIEW does matter! FAT: A DOCUMENTARY 2 (2021) Visit my new Documentaries HQ to find my films everywhere:  FAT: A DOCUMENTARY (2019) Visit my new Documentaries HQ to find my films everywhere: 

Support the pod and get so much extra content for $5/month at https://www.patreon.com/stiffsockspod Bonus eps also available on Apple Podcasts! https://www.apple.co/socks