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In this fantastic episode from early 2021, Jacob speaks with Bethany McLean, an American journalist and contributing editor for Vanity Fair magazine. She is known for her writing on the Enron scandal and the 2008 financial crisis. They talk about her latest book, Saudi America The Truth About Fracking and How It's Changing the World. While the episode is old, the content in it is still quite fresh and deserves more careful thought and analysis. Enjoy!--Timestamps:(00:00) - Intro(02:17) - The Economics of Fracking(24:43) - The Geopolitics of Fracking + the U.S. as an Energy Superpower(32:30) - Thoughts on the Future(41:35) - Enron --CI LinkedIn: https://www.linkedin.com/company/cognitive-investments/CI Website: https://cognitive.investmentsCI Twitter: https://twitter.com/CognitiveInvestJacob LinkedIn: https://www.linkedin.com/in/jacob-l-s-a9337416/Jacob Twitter: https://twitter.com/JacobShapSubscribe to the Newsletter: https://investments.us17.list-manage.com/subscribe?u=156086d89c91a42d264546df7&id=4e31ca1340--Cognitive Investments is an investment advisory firm, founded in 2019 that provides clients with a nuanced array of financial planning, investment advisory and wealth management services. We aim to grow both our clients' material wealth (i.e. their existing financial assets) and their human wealth (i.e. their ability to make good strategic decisions for their business, family, and career).--Referenced In The Show:--Disclaimer: Nothing discussed on Cognitive Dissidents should be considered as investment advice. Please always do your own research & speak to a financial advisor before putting your money into the markets.This podcast uses the following third-party services for analysis: Chartable - https://chartable.com/privacyPodtrac - https://analytics.podtrac.com/privacy-policy-gdrp
Bethany McLean (@bethanymac12), author and journalist, joins Julia La Roche on episode 66 to revisit some notorious corporate failures and discuss fraud. Bethany is the author of The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron and All the Devils Are Here: The Hidden History of the Financial Crisis. She has also written two mini books, Shaky Ground: The Strange Saga of the US Mortgage Giants and Saudi America: The Truth About Fracking and How It's Changing the World. She also serves on the board of the Stigler Center at the University of Chicago. She's a 1992 graduate of Williams College. 0:00 Background and path to journalism 1:47 Goldman Sachs to fact-checking at Fortune 4:15 Writing about investing 5:45 Another side to stories 6:37 Enron 9:20 Reporting the Enron story 14:45 Lessons from Enron 15:20 Do you own homework 18:00 Emotion in business 20:00 Short-selling 23:11 Do your own homework 24:19 Valeant stock battle 26:10 Legal fraud 30:38 A thin line between a fraudster and a visionary 33:15 World of business is crazier than ever before 37:45 Golden age of fraud? 41:03 Venture capital and private equity's reliance on low-interest rates 43:43 A different environment 44:44 Curiosity covering corporate failures 47:00 Can greed be eliminated? 48:48 Banking crisis 49:55 State of journalism
The Value Perspective with Bethany McLean We're very excited about our guest this week on the Value Perspective podcast. Bethany McLean is a financial journalist who was contacted by the short seller Jim Chanos when working for Fortune Magazine and advised to look into a company called Enron. Bethany's column entitled ‘Is Enron overpriced?' was published in 2001, starting the unravelling of the company and she went on to write a book entitled The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron. She is also author of the titles Shaky Ground: The Strange Saga of the US Mortgage Giants, All the Devils are Here: The Hidden History of the Financial Crisis, and Saudi America: The Truth About Fracking and How It's Changing the World. Bethany has also been working at Vanity Fair as a contributor for over a decade now and has pretty much covered all of the famous corporate frauds for the last twenty years. Her background is as a mathematician and she started her career at Goldman Sachs as part of their M&A department. Our conversation references a previous Value Perspective podcast with Carson Block, exploring the nature of the people who are committing these frauds; the difference between the visionary and the fraudster; what is needed on the other side of the ledger to uncover these frauds and withstand the pressure from believers; and finally the role of short sellers in today's markets. Please enjoy. NEW EPISODES: We release main series episodes every two weeks on Mondays. You can subscribe via Podbean or use this feed URL (https://tvpschroders.podbean.com/feed.xml) in Apple Podcasts, Spotify, Google Podcasts and other podcast players. GET IN TOUCH: send us a tweet: @TheValueTeam Important information. This podcast is for investment professionals only. This information is not an offer, solicitation or recommendation to buy or sell any financial instrument or to adopt any investment strategy. Any data has been sourced by us and is provided without any warranties of any kind. It should be independently verified before further publication or use. Third party data is owned or licenced by the data provider and may not be reproduced, extracted or used for any other purpose without the data provider's consent. Neither we, nor the data provider, will have any liability in connection with the third party data. Reliance should not be placed on any views or information in the material when taking individual investment and/or strategic decisions. Any references to securities, sectors, regions and/or countries are for illustrative purposes only. The views and opinions contained herein are those of individual to whom they are attributed, and may not necessarily represent views expressed or reflected in other communications, strategies or funds. The value of investments and the income from them may go down as well as up and investors may not get back the amounts originally invested. Exchange rate changes may cause the value of any overseas investments to rise or fall. Past Performance is not a guide to future performance and may not be repeated. The forecasts included should not be relied upon, are not guaranteed and are provided only as at the date of issue. Our forecasts are based on our own assumptions which may change.
An interview with Bethany McLean, author of "Saudi America: The Truth About Fracking and How It's Changing the World," published by Columbia Global Reports in 2018. She is also the co-author of "The Smartest Guys in the Room," the acclaimed investigation of Enron published in 2003 and made into a documentary in 2005. This interview was conducted on June 21, 2021.
In today's episode, Jacob speaks with Bethany McLean, an American journalist and contributing editor for Vanity Fair magazine. She is known for her writing on the Enron scandal and the 2008 financial crisis. They talk about her latest book, https://www.amazon.com/Saudi-America-Truth-Fracking-Changing/dp/0999745441 (Saudi America The Truth About Fracking and How It's Changing the World). Here are the timestamps: 00:00 - Intro04:20 - Check out LatamPolitik https://latampolitik.com/ (here)! 07:06 - The Economics of Fracking29:31 - The Geopolitics of Fracking + the U.S. as an Energy Superpower45:54 - Enron 52:12 - Outro Subscribe to the podcast so you don't miss any new episodes! We put out new episodes every other Monday Questions? Reach out at: info@perchperspectives.comSubscribe to the Perch Pod News Letter https://perchperspectives.com/reports/ (HERE) Check out LatamPolitik https://latampolitik.com/ (here)!
In this episode we catch up with dedicated Ashtangi, mother of two, and highly acclaimed jouranlist, Bethany McLean. She is also an author and contributing editor to Vanity Fair, who lives in Chicago. Bethany's gift is understanding where the bullshit is, and uncovering it. As Russell said “To put Bethany McLean in context, imagine if in Die Hard Jon McClane takes down Hans Gruber in a cowboy no due process kind of way, then its Bethany who uncovers the rampant embezzlement at Nakatomi Plaza!” Many of you might remember her from the 2012 Vanity Fair article entitled: Who's Yoga Is It Anyway? where she explored how the global Ashtanga yoga community grapples with the death of Guru, Pattabhi Jois, and the complicated response to Sonia Jones launching a chain of yoga studios under the “Jois” name. A name copyrighted and paid for, but a purchase that rankled the prickly egos of senior students who preferred their status just where it was: On Top. She co-author with Peter Elkind, the bestselling book: The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron . Her second book, which she co-authored with Joe Nocera, is called: All the Devils are Here: The Hidden History of the Financial Crisis. And her third book also co-authored with Joe Nocera, is Shaky Ground: The Strange Saga of the U.S. Mortgage Giants. Bethany has a particular talent for following the numbers, exposing illusions, and popping bubbles to reveal where the truth lays hidden. This notion is of particular interest to Harmony and Russell as the Alberta economy is on the brink of collapse as Covid-19 exposes the pitfalls of cheap money in a dead service: Fracking. Alberta prides itself as the Saudi Arabia of North America, but as Bethany says, its not just a dollar spent and a dollar earned: “It's much worse than that.” In her most recent book titled, Saudi America: The Truth About Fracking and How It's Changing the World, journalist Bethany McLean digs deep into the cycles of boom and bust that have plagued the American oil industry for the past decade, and turns an eye to the mysterious death of fracking pioneer Aubrey McClendon. Find out more about Bethany McLean and listen to her podcast Making A Killing on iTunes. As always, keep exploring my website and all my online offerings. Opening and closing music compliments of my dear friend teaching Ashtanga yoga in Eindhoven, Nick Evans with his band “dawnSong” from the album “for Morgan.” Listen to the entire album on Spotify - Simply Click Here. To purchase your own copy - Click Here. Don't forget to subscribe and leave a review ❤ and give us a 5★ rating.
On Sunday, Chesapeake Energy filed for Chapter 11 bankruptcy and the New York Stock Exchange began the process of delisting its stock. Financial journalist Bethany McLean is our guest this week to help break down how Chesapeake got to this point and what’s next for the industry, as well as the state of financial journalism today, Wirecard, and her collaboration with co-author Joe Nocera on an upcoming book about the coronavirus response in the United States. **For those interested in learning more about the oil and gas industry today, I highly recommend Bethany’s book Saudi America: The Truth About Fracking and How It’s Changing the World -- Nick Stocks Mentioned: CHK, CHKQ, EOG, WCAGY Check out more of our content here: StockUp, The Motley Fool's weekly email newsletter Podcasts Youtube Twitter Reach us by Email @ IndustryFocus@fool.com
On today's show, Chris sits down with Bethany McLean for a wide-ranging interview, spanning growing up on the Iron Range in Minnesota, to her career as a business writer and how her time in the heady days of business magazines built her skepticism of the corporate world, and led her to be one of the premier chroniclers of corporate malfeasance. Then, we hear Just One Thing about a company who's helping their employees achieve that ever-elusive work-life balance. Chris also talks villains, both on the screen and in the boardroom. Read Bethany at Vanity Fair, watch her on CNBC, or go buy her books. Bethany McLean is a contributing editor at Vanity Fair. She is also a columnist at Yahoo Finance and a contributor to CNBC. Her two books are the The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron and All the Devils Are Here: The Hidden History of the Financial Crisis. She lives in Chicago. She has also written two mini books, Shaky Ground: The Strange Saga of the US Mortgage Giants and Saudi America: The Truth About Fracking and How It's Changing the World.
Bloomberg Opinion columnist Barry Ritholtz interviews journalist Bethany McLean, a contributing editor at Vanity Fair and author of the recently released "Saudi America: The Truth About Fracking and How It's Changing the World." McLean also co-wrote "All the Devils Are Here: The Hidden History of the Financial Crisis" and "The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron." She was previously editor at large of Fortune and spent three years working at Goldman Sachs as an investment banking analyst.
Global I.Q. Minute explores global oil markets with Bethany McClean, author of “Saudi America: The Truth About Fracking and How It’s Changing the World."
Writer and columnist Bethany McLean shares some of the fascinating stories in our history. She takes us into what happened at Enron through her book, The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron, exposing some of the fascinating details that she has found from her years of research. Her other book, Saudi America: The Truth About Fracking and How It’s Changing the World, discusses about the oil crisis and the fracking that has happened as well as their implications to the world. Bethany gives some great insights into the entire writing process especially on tough topics, and reflects on how the worst crimes in history are often the obvious things that people just keep on missing. Shelly Murphy, CEO for Woz U Foundation and the co-founder of DesTechAZ, advocates for bringing technology to education. She talks about what went on at the DesTech event and how their mission on technology is going to change the way we receive education, the opportunities that come with it, and more. Shelly shares the need to spread technology-based education throughout the world, especially to kids who have no access to these resources. Ultimately, the drive is about the importance of educating the young generation in order to propel the entire country forward. Love the show? Subscribe, rate, review, and share!Here’s How »Join the Take The Lead community today:DrDianeHamilton.comDr. Diane Hamilton FacebookDr. Diane Hamilton TwitterDr. Diane Hamilton LinkedInDr. Diane Hamilton YouTubeDr. Diane Hamilton Instagram
Production of oil and gas in the U.S. has surged to levels unthinkable a decade ago due to the revolution in hydraulic fracturing, which has helped the country surpass Saudi Arabia and Russia as the world's largest oil producer. In her latest book, Saudi America: The Truth About Fracking and How It’s Changing the World, Bethany McLean explores the past, present and future of fracking in America. Yet new development of fossil fuels is simply not consistent with the math of the Paris climate accord, leading us all to ask: What's next for fossil fuels? Guests: Bethany McLean, Author, Saudi America: The Truth about Fracking and How It's Changing the World Kassie Siegel, Senior Counsel, Climate Law Institute Director at Center for Biological Diversity Severin Borenstein, E.T. Grether Professor, Haas School of Business, University of California
This week marks the 10-year anniversary of the collapse of Lehman Brothers on Sept. 15, 2008. It was an event that set off a downward spiral in the American markets and ultimately led to a global recession. Leading up to the anniversary, there’s been a lot of reflecting about what happened and what, if anything, has changed. There's also been a lot of analysis about how the recession had many unexpected responses, like the rise of the Tea Party movement, Occupy Wall Street and the increase in income inequality. But another change in the past ten years is how the United States became a major oil and gas producer. There's been an historic energy boom in this country; in fact, the International Energy Agency estimated earlier this year that the U.S. could become a bigger oil producer than Saudi Arabia and Russia by 2023. It's a shift that's had major repercussions around the world. This week on Money Talking, Charlie Herman discusses the trend — and how it's intertwined with the 2008 financial crisis — with financial journalist Bethany McLean, author of new book, "Saudi America: The Truth About Fracking and How It’s Changing the World."
I’ve often heard that good investors are a bit like journalists: doggedly collecting evidence and building an understanding of how all the pieces of a company or investment fit together. My guest this week is one of my favorite writers and journalists, Bethany McLean. Across her career, Bethany has covered many of the most interesting stories in business and investing, including Enron (which became the famous book and documentary, the Smartest Guys in the Room), Valeant, Wells Fargo, SAC Capital, Fannie Mae and Freddie Mac, the great financial crisis, and most recently, fracking and the energy revolution. Given how deeply she has investigated all of these topics-- and thought about the common threads across them all--this was an amazing conversation. When talking to her, you can feel how much she cares and how diligent and fair she is when analyzing a topic. In addition to all of the great stories already listed, we discuss the art of persistence and other lessons she has learned about businesses and people gone bad. I especially loved her evolving take on housing in America. Please enjoy my conversation with Bethany McLean For more episodes go to InvestorFieldGuide.com/podcast. Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub. Follow Patrick on Twitter at @patrick_oshag Links Referenced Mindsets: Optimism vs. Complacency vs. Pessimism Disgraced ex-BofA exec raises uncomfortable questions about #MeToo The Hunt for Steve Cohen Books Referenced The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron” Free Radicals: The Secret Anarchy of Science Shaky Ground: The Strange Saga of the U.S. Mortgage Giants Saudi America: The Truth About Fracking and How It's Changing the World Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy All the Devils Are Here: The Hidden History of the Financial Crisis Show Notes 2:22 - (First Question) – Differences and similarities between investors and journalists 3:19 – What has more of an impact on business practices, exposing negatives or reporting positive 4:57 – first story that got Bethany intrigued with finding bad behaviors 6:19 – The process of getting to know the people who know more than the market 7:43 – Mindsets: Optimism vs. Complacency vs. Pessimism 8:18 – First short seller that garnered her interest 8:57 – The process that led to The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron 10:36 – How to ask questions 12:18 – Importance of preparation 12:49 – Commonalities among the motivations for people who do bad things 14:20 – Difference between a visionary and a fraud 15:42 – Free Radicals: The Secret Anarchy of Science 16:23 – Any standout frauds that told a really compelling story 17:33 – Looking into Valient 19:32 –Writing about the #MeToo movement 19:34 - Disgraced ex-BofA exec raises uncomfortable questions about #MeToo 21:49 – Thoughts on the spectrum of chasing this story 23:26 – Ways journalist can fairly impact this movement 24:14 – The romance of owning a home in America and what it has meant for the market 24:34 – Shaky Ground: The Strange Saga of the U.S. Mortgage Giants 28:27 – What has changed on her thinking about housing 30:24 – What role does Fannie and Freddie have in the market today 31:13 – Her desire to look into energy 32:26 – Saudi America: The Truth About Fracking and How It's Changing the World 35:05 – What have been the changes in energy market in the US 34:40 – Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy 37:01 – Where are we in the life cycle of energy production 38:27 – The more boring things that are actually the drivers of our economy 38:29 – Technologies that shaped industrial revolution in America 39:42 – Where can people learn more about how our energy independence will impact other markets 41:10 – Why is Peter Elkin the best investigative journalist 42:24 – Most relentless she has ever been 43:58 – Who is doing it right 44:38 – All the Devils Are Here: The Hidden History of the Financial Crisis 45:36 – Her take on reporting the The Hunt for Steve Cohen story 49:01 – How her views have evolved over her career and lessons learned 50:40 – Are there ways to prevent success from leading people down a bad path 53:48 – The role of empathy in her career 55:13 – Kindest thing anyone has done for Bethany’s career Learn More For more episodes go to InvestorFieldGuide.com/podcast. Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub Follow Patrick on twitter at @patrick_oshag
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