Podcasts about State Street

On Thursday, Erie County Executive Christian Vogel visted our 429 State Street studio for her monthly conversation, which centered around county issues such as the reentry program, cell phone use in the court house, and the upcoming America250PA events.

HEADLINES:• State Street is Deepening its Gulf Presence With Oman Expansion Plan• Saudi PIF is Actively Replacing Foreign Executives With Local Talent in Strategic Shift: FT• Glazers' sale debate at Manchester United heats up as Qatar bidder rules out return• Man City Leadership Has 'Winning' Mentality: Chairman Khaldoon Al Mubarak  Newsletter: https://aug.us/4jqModrWhatsApp: https://aug.us/40FdYLUInstagram: https://aug.us/4ihltzQTiktok: https://aug.us/4lnV0D8Smashi Business Show (Mon-Friday): https://aug.us/3BTU2MY

State Street في عُمان وSaudi PIF وManchester United

VettaFi's Head of Research Todd Rosenbluth discussed the State Street Utilities Select Sector SPDR ETF (XLU) on this week's “ETF of the Week” podcast with Chuck Jaffe of “Money Life.” 

Group Guide Use this guide to help your group discussion as you meet this week. 2 Samuel 14 Spencer Cary Download TranscriptGood morning. What a wonderful morning. Baptisms are a time to truly be thankful that God redeems any of us and that we get to enjoy the benefits of what it means to follow him, belong to him in the context of the church community. What a blessing. We're continuing to walk through 1 and 2 Samuel. We're in 2 Samuel chapter 14 today.We'll spill into chapter 15 as well. We've got quite a bit of story to get through. Let me give us a little bit of a recap from last week. It'll be on page 303 in the Black Bible. So if you're going to grab a Bible nearby, you can follow along with us.Last week, really last week in the next few chapters, we're kind of living in the aftermath of David's sin. What we saw last week is that his son Anon desired his half-sister Tamar, and then he assaulted her. And we saw the devastation of that spill into two years of Tamar's brother waiting for his opportunity to exact revenge, and then we saw Absalom kill Amnon. And we are in the aftermath of that tragic story, and we're going to see more of this continue into a story today that has also elements that are laden with sin. And my hope as we walk through this story today that in the darkness of this really section of 2 Samuel, we would actually discover some really wonderful hope.Some really, really wonderful hope. So let me pray for us, and then we're just going to jump straight into the story. Heavenly Father, we thank you that you, in the middle of sin and brokenness, in the middle of darkness, in the middle of all sorts of suffering, because of the effects of sin, you bring wonderful hope. God, I pray that we would be reminded of that today as we walk through a story that continues in this section that is difficult. And we ask that you would open our eyes to what is true, and that we might leave here as not just hearers of the word, but we would also be doers of the word.We ask this in faith, in Jesus' name. Amen. All right, so pick up in verse 1. Now Joab, the son of Zeruiah, knew that the king's heart went out to Absalom. And Joab sent to Tekoa, and brought from there a wise woman, and said to her, Pretend to be a mourner, and put on mourning garments. Do not anoint yourself with oil, but behave like a woman who has been mourning many days for the dead.Go to the king, and speak thus to him. So Joab put words in her mouth. So Joab sees how much this situation with Absalom has affected David, and he wants to do something about it. Joab is the commander of his army. It's David's nephew. He loves David.And he wants to ease his pain, and he figures out a way to do this, that he's going to do pretty much what Nathan the prophet did, which is to come and act out a story. I don't know why David keeps falling for these, but he does. Like he apparently appreciates theatrics, but he just... Joab sees what happened with Nathan the prophet, and says, I'm going to do the same thing. I'm going to find this wise woman. He goes and sends for a woman from Tekoa, which is not far away from Jerusalem.And then basically says, you're going to be someone who's mourning, who is sad. And then he gives her a script that she's going to go act out before the king to illustrate a point. So this is the script. Verse 4. When the woman of Tekoa came to the king, she fell on her face to the ground and paid homage and said, Save me, O king. Which is a dramatic entry into something that actually would have been very normal for their time.The Israelite kings were meant to be Judges for the people. That you could come and bring your dispute to the king, that he would hear it and give a ruling on it. This is a normal practice. And she says, Save me, O king. Verse 5. And the king said to her, What is your trouble?She answered, Alas, I'm a widow. My husband is dead. And your servant had two sons. And they quarreled with one another in the field. There was no one to separate them. And one struck the other and killed him.And now the whole clan has risen against your servant. And they say, Give up the man who struck his brother that we may put him to death for the life of his brother whom he killed. And so they would destroy the air also. Thus they would quench my coal that is left and leave my husband, neither name nor remnant, on the face of the earth. So, that's the script that Joab writes for her. And it is indeed sad.It is a woman who has been widowed. She has two sons. Her sons are in the field. They're fighting, and the other one, one of them kills the other. So it's devastating to lose a son.Now, the remaining son, her clan, is wanting capital punishment. They want him to be put to death. And she's hiding him. And they're demanding this. And she's coming to the king. So that she could be spared more of this grief so that her husband would have a name, have a remnant that's left behind.That's the situation. Then the king said to the woman, Go to your house, and I will give orders concerning you. And the woman of Tekoa said to the king, On me be the guilt, my Lord the king, and on my father's house let the king and his throne be guiltless. The king said, If anyone says anything to you, bring him to me, and he shall never touch you again. Then she said, Please let the king invoke the Lord your God, that the avenger of blood kill no more, and my son be not destroyed.He said, As the Lord lives, not one hair on your son shall fall to the ground. So she gets David. She reels him in. And she gets him to agree to, invoking the name of the Lord, a protection upon this fake son. So he's going to, no one's going to lay a hand on him.So this is David, y'all. David just so clearly can assess the situation that's outside of himself. He just so clearly sees it. He's like, I'm going to intervene. And she's got him. Verse 12.Then the woman said, Please let your servant speak a word to my Lord the king. He said, Speak. And the woman said, Why then have you planned such a thing against the people of God? For in giving this decision, the king convicts himself inasmuch as the king does not bring his banished one home again. And that's the point of Joab's script. To get David to reckon with the fact that Absalom cannot come back to Jerusalem.She got him. Joab wrote this well. She says, You've convicted yourself. It is you who have made sure that Absalom cannot come home. And then she continues. Verse 14.We must all die. We are like water spilled on the ground which cannot be gathered up again. But God will not take away life and he divides his means so that the banished one will not remain an outcast. Now I've come to say this to my Lord the king because the people have made me afraid and your servant thought, I will speak to the king. It may be that the king will perform this, the request of his servant. For the king will hear and deliver his servant from the hand of the man who would destroy me and my son together from the heritage of God.And your servant thought, The word of my Lord the king will set me at rest for my Lord the king is like the angel of God to discern good and evil. The Lord your God be with you. So she basically says, Listen, we're all like water spilled to the ground. We're all going to die one day. And as for this banished one, Absalom, why punish him any longer? But she ties it back to her story, this script, and says, See, you should bring him home.You have the power, David. You can make this right. Bring him home. And after boldly correcting their king, she very wisely begins with some flattery. She says, The king is like the angel of God that has discerned good and evil, which is very wise at this point because you've just put the king on blast. Maybe you should say some kind words about who he is.Verse 18, And the king answered the woman, Do not hide from me anything I ask you. And the woman said, Let my Lord the king speak. The king said, Is the hand of Joab with you in all this? The woman answered and said, As surely as you live, my Lord the king, one cannot turn to the right hand or to the left from anything that my Lord the king has said. It was your servant Joab commanded me. It was he who put all these words in the mouth of your servant.In order to change the course of things, your servant Joab did this. But my Lord has wisdom like the wisdom of the angel of God to know all things that are on the earth. Which is just really laying on thick at the end. Which, again, is very smart at this point. Her fate is in his hands. She says, Yes, you figured it out.Joab is the one who gave me this script. He's the one that put the words in my mouth. In order that you might reckon with the situation with Absalom. So at this point, I just, as I'm reading this, I feel like David going forward should probably ask a few more questions before he just jumps into giving judgments. This is the second time this happened. We don't know if this happens over and over again.But David keeps falling into this. And people keep using these type of situations to illustrate points so that David's eyes can be open to his situation. Now Joab seems to be here, present for all of this. And he turns to him in verse 21. Then the king said to Joab, Behold now I grant this.Go, bring back the young man Absalom. And Joab fell on his face to the ground and paid homage and blessed the king. And Joab said, Today your servant knows that I found favor in your sight, my Lord the king, and that the king has granted the request of his servant. So Joab arose and went to Geshur and brought Absalom to Jerusalem. And the king said, Let him dwell apart in his own house. He is not to come into my presence.So Absalom lived apart in his own house and did not come into the king's presence. So this ruse, it works. Joab sees how much David has been in distress. He illustrates this whole living parable before him. It makes the point. And David says, Okay, bring him home.He can go back to Jerusalem. He can go back to his home. He's not going to come back to my presence. So he goes. He gets him. He brings him back.And what we're going to see is that bringing Absalom back is going to create some real problems for David in this kingdom. So verse 25. Now in all Israel, there was no one such to be praised for his handsome appearance as Absalom. From the sole of his foot to the crown of his head, there was no blemish in him. And when he cut the hair of his head, for at the end of every year, he used to cut it. When it was heavy on him, he cut it.He weighed the hair of his head 200 shekels by the king's weight. They were born to Absalom three sons and one daughter whose name was Tamar. She was a beautiful woman. Which that last part, it's just a beautiful nod to his sister, Tamar, who would not have children after everything that happened to her. And he named a daughter after him. But we get a description of Absalom.Absalom was praised by the nation for being a handsome man with beautiful hair. He is good looking. I mean, he is basically Fabio. Or if that reference is lost on you because it's too old, Gaston. Whatever, whatever you can try to picture, it says there's no, there's no blemish on him. He's beautiful.Beautiful. And his hair is beautiful. His hair is so thick, it's so luscious, that every year when he cuts it, he weighs it, which is weird, but he does. He weighs it and it's 200 shekels by the king's weight. Five pounds is about what that is. So he's a beautiful person, beautiful man.He's handsome. It's not just handsome, he's overwhelmingly handsome. He's the kind of handsome that when you show up in Hollywood with no discernible talent to act, they just hand you a role. And you know it when you see it. He's very handsome, which means, if you understand, take a step back and understand the context of Absalom. This man was born on third base, y'all.He's a prince, which means he has status and he has money and he's famously handsome. So, he's extremely blessed. And the question is, okay, with all of this blessing, what is he going to do with it? And what you see is he chooses evil. And that is where all this story is going. Verse 28.So Absalom lived two full years in Jerusalem without coming into the king's presence. Then Absalom sent for Joab to send him to the king, but Joab would not come to him. And he sent a second time, but Joab would not come. Okay. So Joab, one would think, you know what?You got away with murder. Maybe just live in luxury in your home in Jerusalem. Is that enough? No. He goes to Joab, he sends for Joab and says, I want, I want a present, I want a moment with the king. And Joab ignores him.And then he sends a second time. And he says, I want to be in the king's presence. And Joab ignores all of this. Now, it does not appear from the context here that what Absalom wants is reconciliation with dear old dad. What we're going to see is that all of this is politically motivated. So he sends for Joab, he gets rejected, he gets ignored.And then we're going to see what kind of character is bound up in Absalom. Verse 30, then he said to his servants, see, Joab's field is next to mine and he has barley there. Go and set it on fire. So Absalom's servants set the field on fire. Have you ever been in a situation where like you've you've reached out to your boss and you've asked for a raise but they just put. The meeting off and then you reach out again to ask for a raise and then he just put the meeting off and then you set his desk on fire.That's Absalom. He's the crazy ex who keys the car. I'm going to I'm going to get your attention somehow. Burn his field down. So he does.He has a tantrum. He burns the field. And guess what? When you use emotional sabotage, it sometimes works. And he comes. Verse 31, then Joab arose and went to Absalom at his at his house and said to him, Why have your servants set my field on fire?Absalom answered Joab, Behold, I sent word to you. Come here that I may send you to the king to ask why have I come from Gesher. It would be better for me to still be for it would be better for me to still be to be there still. Now, therefore, let me go into the presence of the king and if there is guilt in me, let him put me to death. So it works.And Joab shows up and he's like, Crazy, what are you doing? What is the point of all of this? And he says, You didn't come. I have a message for the king. It would be better for me not to be in this house. I might as well be in exile in Gesher.But no, I want to be in his presence. And you know what? Send for him. Let me go. Because if he wants to kill me, he can kill me. But I'm getting my audience with the king.So his temper tantrum works. Absalom goes. Verse 33. And Joab went to the king and told him and he summoned Absalom. So he came to the king and bowed himself on his face to the ground before the king and the king.Kissed Absalom. In the end of 14, before you get into 15, kind of feels like the eye of the hurricane. Because there's a moment where the sun is shining and things are, okay,. They've reconciled. He kisses them. He embraces them.That maybe this is the moment where things just get good again. That maybe, like, it's just, they're going to have, you know, moments together out in the field. Hunting and it's going to be wonderful. Maybe, just maybe, things are good but it's, it's the eye of the hurricane. And as the sun passes, the storm quickly approaches. And in verse 1 of chapter 15, we're going to see that what he is shooting for is a play for power.After this, Absalom got himself a chariot and horses and 50 men to run before him. So, pause there. The more you read the Old Testament, the more you'll pick up on some themes. One of those themes is that trusting in chariots and horses is bad. That using chariots and horses to flex your might, your power, and your greatness is a bad idea. This is what Egypt did.This is what the surrounding nations did. It doesn't mean they couldn't ever have chariots. It doesn't mean they couldn't ever have horses. It doesn't mean that those are in and of themselves bad but those are military weapons that the people of God are not meant to trust in because they are meant. To trust in the power of God but you positioning yourself on a chariot for all to see as we're going to see this is all a play. For power and majesty for himself.So, as soon as we read that there's some context there I think the eye has passed and there's trouble abroon. So, he basically outfits himself with a tank, a rocket launcher and a crew of 50 men and then we're going to see. How he positions himself amongst the people. Verse 2 Absalom used to rise early and stand beside the way of the gate and when any man had a dispute to come before the king. For judgment Absalom would call to him and say from what city are you? And when he said your servant is of such and such tribe in Israel Absalom would say to him see.Your claims are good and right but there is no man designated by the king to hear you then Absalom. Would say oh that I were judge in the land that every man with a dispute or cause might come to me. And I would give him justice and whenever a man came near to pay homage to him he would put out. His hand and take hold of him and kiss him thus Absalom did to all Israel who came to the king. For judgment so Absalom stole the hearts of the men of Israel and it's clear at this point that what Absalom. Is doing is he's positioning himself for a place on the throne because the king is the one who makes judgments.Like this this is the king's responsibility and Absalom seems to be getting in the middle of that and he seems to be. Taking what the king does and he says oh where are you from what's your problem oh oh no oh I'll give you justice. Oh I just wouldn't it be great if you had a king that listened to you wouldn't it be great if you had someone who could make. Good judgments for you and you could all receive judgments oh if there was just someone I guess I'll be the one. That does this and you can almost see him in his chariot in his stupid chariot with his wind blowing through his hair. Riding up to the gate posting up the people swarming him and he's just like oh I can help you and the people begin they.Listen this is what the people do they fall for cheap tricks every nation doesn't matter what nation what era what time. People fall for cheap tricks they just do and this is something that is working with every judgment with every hair toss. With every swooning kiss that he gives to the people he starts to capture their hearts and y'all he's lying. I mean you think about this he's lying this is we we just saw that David does give judgments. He met with a woman from Tekoa but Absalom's in the shadows he's he's politically maneuvering. He's out now in front of the people he's doing things that are shady they're falling for fool's gold they're falling.For a man who murdered his brother without one ounce of regret one ounce of repentance. One ounce of sorrow we see none of it they're falling for a man who burns down fields. To get people's attention they're falling for a guy who positions himself on chariots. To show his power they're falling for a guy who this is the really evil part of this. That's lost on us culturally he's dishonoring his father y'all which is a massive sin in the bible. He's dishonoring him not just his father but the anointed king of Israel and if you can remember how in first Samuel.How David the future king of Israel went about treating Saul the present anointed king. Of Israel and all the deference that he gave towards him you can see the difference. That approaches this is wickedness this is evil and he's positioning himself for a shot at the throne with every million. Dollar style with every wink with every nod with every judgment and now the storm is raging and a civil war. Is brewing verse 7 and at the end of four years Absalom said to the king please let me go. And pay my vow which I have vowed to the Lord in Hebron for your servant vowed a vow while I lived.At Geshur in Aram saying if the Lord will indeed bring me back to Jerusalem. Then I will offer worship to the Lord the king said to him go in peace so he arose and went to Hebron. So David led him out of his sight which is not really the main point of the story I get so annoyed. With David sometimes when I'm reading this because I'm just like what are you doing how are you not. Seeing what's happening here how are you not in attention to your kingdom and not seeing what he's doing. But he does that's him out of his sight verse 10 but Absalom sent secret messengers throughout all the tribes of Israel.Saying as soon as you hear the sound of the trumpet then say Absalom is king at Hebron with Absalom went 200 men. From Jerusalem who were invited guests and they went and their innocence and knew nothing and while Absalom was offering. The sacrifices he sent for Ahithophel the Gilanite David's counselor from his city Gilom. And the conspiracy grew strong and the people with Absalom kept increasing so that's where we pause today. Is that what he has done is he's taken he's enacted a plot to take the throne by force from his father and God's anointed king. And he's going to Hebron with some supporters with some bystanders who don't know what's going on and with a plan.And a conspiracy that we're going to see play out so to recap let's think about this story in context. Absalom is born with everything he's born on third base he has good looks he is a prince. He literally gets away with murder he gets away with it and then is restored he's allowed. To be back in Jerusalem where he gets to continue to live in royalty he should just. Be content he should just be satisfied and what does he do with all this blessing it's not enough it's not enough. For him he wants more he wants a throne that is not his to take he starts to dishonor.His father he lies he plots he schemes and he plans to take his throne which by the way. The only way you take the throne from a sitting king is by killing the king so this plan is moving towards. He wants to kill his father and that means what we're seeing is a story that plays out like a tragedy. And built into this tragic story is a self-centered prince who wants to be his own king and we're going to witness. Absalom do some truly evil stuff he has all the blessings and in the end he chooses himself. He chooses self-interest even if it tears the nation apart which it is.And the reality is if we can have enough foresight to take a step back from all of this we are just like Absalom. We are just like Absalom we in this room are born on third base just like Absalom. And you might say oh you don't know I'm ugly and it's like maybe that's subjective. It's not the point not the point of the comparison I'm trying to make we're just like Absalom. And that we have so many blessings that we've been given so many luxuries y'all. We live better than the kings of old the people of royalty from ages.Past we live better than them we have food that we can. Summon we have an abundance of food we have food that goes. Bad we don't know what a famine is like here in our. Nation that even if you're struggling there are places you can go. To get it we have food we have running water. That is clean we have our own chariots that never grow tired.You can get in a car and you can drive people used to have to. Walk for miles and miles and miles or ride a horse for miles. And miles and miles and it would take days and days and you. Could do it in a matter of hours if you go through the list of all the. Things that we have in fact that you have a machine in your. Pocket that is one of the most powerful machines that's ever been made.With that machine you can summon food to be delivered. Groceries to be delivered a car we have blessing upon blessing. Upon blessing the things that we think are just common needs. It's like no it's comparatively we are blessed. In more ways than we could possibly and on top of. The material blessings of this present world in this place.In this area the Columbia area we have access to spiritual. Blessings that are wonderful y'all I can take a rock. And throw it and get close I can throw it a couple. Times and get close to a church down the street where they're. Preaching the gospel right now where Chet Andrews at State Street is preaching. And that's keep driving and you're going to see on a hall.Avenue where Dow is preaching it's like. We have people that are preaching the gospel in this city you have. Access to Christian community in this city you have community. Groups and small groups and maybe we are blessed beyond. We have access to the word of God that you can read it in front. Of you right now you can pull it up on your phone you probably.Have maybe some of you have it in your car you have. It at your house we have every spiritual blessing some of. Us who belong to Jesus Christ who are Christians we have. Access to our creator y'all that he has we can. Pray to him and he listens that we have no middle. Man other than Jesus Christ it's wonderful access.To our triune God we're not born on third base. We're born rounding third base on our way. To home we are so wonderfully blessed and like Absalom. It's not enough we want more money we want more power we want. More success we want more praise we want more and better friends. We want better looks we want a better life it's never.Enough it's never enough we want more and then we'll do. Actions that are similar to Absalom many of us know how to politically. Maneuver you know how to at the workplace position yourself to compete for a job. Like it's a throne that you're fighting for your life for you know how. To position yourself ahead of another co-worker you know how to make. Business deals work the way that you come out on top we know how to.Play the game at the workplace we know how to play the. Game in our social spheres some of us know how to maneuver. And put ourselves and say I really want to be closer with this person. But I need to get in between this person and this person I need. To make this friendship work better and it's like all. That political maneuvering reveals the same heart it's not enough it's never.Enough and we'll do some of the same things behind the scenes. To get what we want for our own good we'll. Act just like Absalom we can be erratic we can throw temper. Tantrums we can act like petulant children we know how to. Yell in an argument to get what we want some of. Us know how to break things to get what we want.And you might say I would never I am cool calm. And collected I would never yell to get what I want. But you might know how to give a cold shoulder you might. Know how to be passive aggressive we know how to. Do this we know how to act in order to get what we. Want for our own interest we do things just like.Absalom we fortify our lives just like he did with he did. It with a horse and a chariot and a squad of 50 people because he. Wanted to trust in his own strength as opposed to in all. Of this trusting and the strength of God as opposed to trusting. That what God wants and what God desires for this kingdom is what. Is good he doesn't it's not enough but he trusts in his own self.And we do the same thing we'll find ways to trust in our own. Selves we'll do it through a savings account we'll do it through. Work ethic and working endless hours one of the ways that shows. Up in my life is just prayerlessness this idea that I can work. And work and strive and do and do and do and do and do. And not run to the Lord and I've just seen over and over again.That the prayerlessness in my own life is symptomatic of a greater problem. That I trust in my own strength and not the Lord but we. Have the same streak that runs through Absalom that's in us this self. Centeredness and wanting more and not being content content we're just. Like Absalom and yet in so many ways we're blind to it we can't. See it so if that is reality and I'd argue that for the majority of us if not all of us.In some form or fashion it is then where's the hope if that's the problem then what's the. Remedy like what what do we actually how do we not live. Like this Absalom type lives I want us to go to Philippians chapter. 2 It's on page 1135 1135 in the black bibles because. Bound up in this wicked story that we've read that we're going to. Continue to see play out and that's the backdrop of the darkness of our own lives.And the ways that it aligns with this story is some incredible hope. This is Paul writing to the church to Philippi addressing this directly. He says in verse 3 chapter 2 do nothing from selfish. Ambition or conceit but in humility count others more significant than. Yourselves which I read that and the times where I have the clarity. To see that Absalom prideful self-interested streak in me.I'm like okay I'm in you've got me do nothing. From selfish ambition or conceit but in humility count others more significant. Than yourselves I'm in how I want that then verse 4. Let each of you look not only to his own interests but also. To the interest of others that's like okay again you've. Got me I'm in I don't want to look to my own interest.Only I want to be a man that lives for the interest. Of others I'm in but how do I get there verse 5 have this. Mind among yourselves which is yours in Christ Jesus who though. He was in the form of God did not count equality. With God a thing to be grasped but emptied himself by taking. The form of a servant being born in the likeness of men and being found.In human form he humbled himself by being obedient to the. Point of death even death on a cross and the. Remedy for self centered souls and the way to fix. Our prideful beset sin in our lives is through. Jesus Christ it is by trusting and a God who left. The glory of heaven to take on human flesh and dwell among us.Who subjected himself to be murdered by his own creation for our own interest. That we might not be sprinting into an eternity of destruction. Under the wrath of God forever but he might bring us from. Darkness into a kingdom of light by choosing to surrender in the same. Way that Stephen declared in the baptism waters today. That the only hope we have for the self centered and self.Interested soul is through the work of Jesus Christ entrusting. In him and not ourselves and then every day in following Christ. Day by day we continue to come back to the hope of the. Gospel of a God who loved us so much that he. Gave himself for us that he might mold us. And conform us into his image into being people that are.Not so interested in our own lives but live for the. Sake of others hope is Jesus Christ that's the only. Means that we get there it is through faith and daily. Repentance of dying to our own selves and doing it every. Single day as we grow to be more like Christ. So when we read stories like this it's a warning and what.We're going to see is absolutely just absolutely wrecked his own. Life and so many people the pain and the. Fallout of his sin is massive and it's a warning. Of what it means when we trust in ourselves and we care about. Our own lives and thank you God that he's given us stories like. This to remind us not only the seriousness of sin but the wonderful.Gift of a savior and as we get ready to sing one final song in worship. My hope is that we would begin to reckon with our own sin and then. Run to Jesus Christ asking him to both reveal our self-interest to feel our. Pride reveal all the self-centeredness within us but also celebrate that he. Came and that he died and that he gave his life so that I. Wouldn't be a slave to myself and worshiping my own self but I might live.To worship in Christ and the fruit of that would show up in so many other. Ways so we'll get the opportunity to do that in worship here in a moment. We'll have the opportunity in groups to do that this week as we get to live. This out and this is a care week where we get to maybe confess. Our own sin and our own self-interest and we pray that. God would stir that work in us and then we'll worship and sing heavenly father I pray.That you might open our eyes to the reality of our own. Absalom like sin within God I just I so. Need you I so feel it myself this concern for self. This lack of contentment that it's never enough and I think there's others like. Me here that need you that desperately need you to go to. Work and may we trust in you and you alone and not.Ourselves and may you regularly graciously confront our sin and remind. Us beautifully of our savior you and may that change. The way we live our lives in Jesus name amen the band's. Going to come up we're going to sing this final song together and as we. Sing and celebrate and make much of Jesus Christ for what he has done for us. My hope is that this wouldn't just be things that we hear but we.Would actually begin to put into practice in our lives and as we leave here. Begin to take practical steps in running towards Jesus and watching him change. Us to be a people that live not to ourselves but for the sake of others.

Cory is on the grind and kind. He hosts the Kinsman open mic just about every week and treats every comic with a level of respect none of us deserve. We also have a super fun secret guest appearance by Connor, hitting his dab pen before going inside to serenade the fine people of Bristol.Catch me in new London CT on May 30th. I'm not on the poster, but I'll be there.Catch Cory and Connor at the Kinsman open mic on State Street in Bristol, RI every Friday around nine.YOU CAN CONTACT US RIGHT HERE!

Explore Jason Dominguez's vision for Santa Barbara, his background, and his approach to local governance as he campaigns for District 4 City Council. This interview covers key community issues like housing, fire safety, State Street, and rent stabilization. In this episode: Jason's personal journey from Maywood to Santa Barbara and his legal and international experiences His previous city council service, emphasizing fiscal responsibility, community engagement, and transparency Stakeholder perspectives on housing, rent stabilization, and controlling rising costs Fire safety strategies in District 4, including coordination with fire departments and urban planning The future of State Street and balancing commercial vitality with pedestrian-friendly policies Dominguez's stance on political independence, collaboration, and maintaining respectful debate Timestamps: (00:01) - Welcome and introduction to Jason Dominguez's background (0:30) - Why Jason is running for District 4 City Council (2:43) - Growing up in Maywood, education, and early influences (5:48) - How international experiences shaped his civic perspective (10:00) - Transition from law career to local government (13:08) - What Jason aims to accomplish in his current campaign (17:19) - Community priorities in District 4: fire safety and development (20:08) - The debate around rent stabilization and affordable housing (24:26) - Perspectives on State Street revitalization (32:15) - Balancing commercial growth with community needs (36:42) - Views on urban planning, retail, and street redesign (40:39) - Enhancing bike safety and youth recreation (43:52) - Addressing concerns about political style and past interactions (49:43) - Reflections on leadership, mistakes, and community service (60:40) - The influence of fatherhood on his worldview (63:23) - Final thoughts on voter trust and legislative experience

If ETFs are becoming the “backbone” of investing, what does that mean for the future of portfolios in Asia? Asia-Pacific’s ETF market has crossed the US$2 trillion mark, and investors are no longer using ETFs simply to track indices. Hosted by Michelle Martin with guest Ahmed Ibrahim, Head of ETF Solutions, APAC at State Street, this episode explores how ETFs are evolving into gateways for AI investing, income strategies, active management and digital assets. Michelle and Ahmed unpack what’s driving explosive ETF growth across China, Japan, Korea, Taiwan, Hong Kong and Australia - and how APAC is increasingly shaping global ETF innovation.See omnystudio.com/listener for privacy information.

To kick off State Street's series of global research events, we are joined by research partner Alberto Cavallo, co-founder of PriceStats and Professor of Business Administration at Harvard Business School. In this wide-ranging discussion of inflationary dynamics, we assess the last ten years of recurring price shocks and how much inflationary regimes and the price sensitivities of retailers and consumers have changed. The current impact of another energy price shock and lingering effects of last year's tariffs briefly feature as a sneak preview of Alberto's eagerly anticipated current thinking. For a fuller presentation of those themes, please contact your State Street representative to register for one of our upcoming events in Asia, the Americas and Europe.See omnystudio.com/listener for privacy information.

We were surprised, when researching for this interview, to learn that State Street Investment Management are the fourth largest asset manager globally, with circa $6 Trillion of assets. Size confers both opportunity and challenges, however, and in this conversation Yie-Hsin talks about the global savings gap and the evolution of Asset Management. She addresses the place of the historic 60/40 allocations in a world where bonds may not deliver, and inflation is stubborn.  She reflects on the turbulence in private markets, the emerging market debt and equity opportunities and why tokenisation is becoming an increasingly potent force.In January 2026, State Street launched its own Digital Asset Platform, which includes wallet management, custodial, and cash capabilities to support tokenized asset development. The Money Maze Podcast is kindly sponsored by J.P. Morgan Asset Management*, IFM Investors, World Gold Council and LSEG.*During the episode we cite J.P. Morgan Asset Management as Europe's leading active ETF provider by assets under management. This is sourced from J.P. Morgan Asset management and Bloomberg, data as of 30 March 2026.‍

Kim Wolfe is one of the few non-lawyer executives running operations at the top of corporate legal. With a Wharton MBA and a quantitative background, she leads legal administration at State Street. David Cowen sits down with Kim to unpack what executive-level legal ops looks like inside one of the world's most regulated industries, and the career advice that changed everything. Key Topics Covered: The non-lawyer operator archetype: How business operators in legal leadership are reshaping the function Banking's slower AI path: Why regulation means Kim is two steps behind Intel and HP, and okay with that Lawyer-to-lawyer training: Why pairing power users with hesitant adopters moves the needle Who owns training: Why 67 percent of legal ops says it belongs to them The career lesson: As long as I see you here, I cannot give you more The 5:30 AM discipline: Why two hours of solo thinking is Kim's most important investment Simulation training: Why flight-simulator-style learning may fix inconsistent mentorship

Gianni and host Jeanie read listener mailbag questions on the Hollywood Godfather podcast. Russo says a major company wants to adapt his three books—The Hollywood Godfather, The Sixth Family, and Mafia Secrets—into three $50 million feature films over the next three years. He says he was not in Hollywood during Charles Manson's time, credits engineer Mike Austin for creating the podcast intro music with AI, and describes carrying a shortened hickory cane with a gold-plated skull as a weapon for protection in New York. Russo discusses meeting podcast guest Miles Stevenson through their network, doing fan conventions where proceeds support his education charity Gianni Believes You Can, and planning upcoming dinner shows possibly at Paladino's in Grand Central. He recounts his restaurant career in Las Vegas, including State Street opened by Sinatra and the Rat Pack, and addresses AI likeness protections and changes hurting Las Vegas tourism.

This episode of CoinDesk's Public Keys at the NYSE features three conversations with the most closely watched voices in crypto's institutional moment. ProCap Financial founder Anthony Pompliano argues that 75% of crypto companies "aren't going to be here in five years," and lays out the four areas he believes will survive — Bitcoin, equity infrastructure, stablecoins, and tokenization. Angus Fletcher, Head of Digital Assets at State Street, breaks down how the $30 trillion-plus custody bank is building the bridge between traditional finance and tokenized markets, including a new tokenized fund service launching from Luxembourg by the end of 2026. Plus, SharpLink CEO Joseph Chalom on the publicly traded Ethereum treasury company's 46% institutional ownership, why permanent ETH capital is reshaping on-chain finance, and why he believes ETH's risk/reward "has never been better." - Timecodes: 00:00 Welcome to Public Keys at NYSE 00:14 Pomp on 75% of Crypto Being "Dead and Never Coming Back" 02:30 The Four Survivors: Bitcoin, Infrastructure, Stablecoins, Tokenization 04:30 Ghost Chains and Why Crypto Needs to Grow Up 05:30 BlackRock Is Now a Bitcoin Company 09:00 Pomp on Prediction Markets and ETFs as "Biggest New Category" 12:30 State Street's Angus Fletcher Joins 14:30 Why Traditional and Digital Will Run Together 17:00 Regulatory Clarity as a Stamp of Approval 18:30 State Street Picks Luxembourg for Tokenized Funds 20:30 SharpLink CEO Joseph Chalom on Ethereum as Infrastructure 23:30 Permanent ETH Capital and Institutional Standards 26:30 Why Stablecoins Will Outpace Bitcoin Payments 31:00 Chalom: ETH Risk/Reward "Never Been Better" - This episode was hosted by Jennifer Sanasie.

 Today we're chatting with Brooke of Daisy and Stella Vintage — a collector, seller, and curator who has been living and breathing vintage since 1999, and more recently, became the founder of the Twin Cities True Vintage Show. Brooke grew up in Wisconsin, where her mom sold antique dolls, and she spent a lot of time in auction houses and antique malls and the vintage shops on State Street in Madison. By college, she had a name for her future vintage shop picked out — Daisy and Stella, but it would be some time before she dove fully into her lifelong dream. Today, Daisy and Stella is a deeply specialized shop focused on Victorian fashion through the 1930s — the era of leg-of-mutton sleeves, hand-beaded gowns, corset covers, and construction so intricate it would cost thousands to replicate today. Brooke has built a reputation as one of the go-to experts in this niche, sourcing pieces through estate sales, online auctions, and a growing network of collectors and friends who know exactly what she's looking for. In 2023, she took that expertise and turned it into something bigger: the Twin Cities True Vintage Show, a curated, experience-driven vintage event where everything sold on the floor is 50 years old or older, and shoppers dress in vintage – we've covered the incredible street style in Pre-Loved's newsletter this spring! On today's episode, we get into all of it: how she found her niche and why narrowing down was the best thing she ever did for her business, and what it takes to build a vintage show that draws buyers and dealers from the coasts — and internationally — to the Midwest for one-of-a-kind finds. Let's dive right in! DISCUSSED IN THE EPISODE: [4:35] Brooke grew up in Wisconsin, where her mom sold antique dolls, and she spent a lot of time in auction houses, antique malls and vintage shops. [5:23] The vintage landscape of the late 90s and early 2000s  [8:58] Starting a vintage shop was a lifelong dream for Brooke – one long in the making. [14:09] Daisy and Stella is a deeply specialized shop focused on Victorian fashion through the 1930s. [17:23] What's most in demand right now from Victorian through 1930s  [22:47] Brooke has tried many resale platforms over the years – most recently livestreaming on Whatnot.  [25:08] Educating customers about pieces that are extremely old and rare.  [28:00] The piece Brooke had in a bin for 10 years before realizing it was a rare, sought-after French label, Boué Soeurs [32:28] Why she started the Twin Cities True Vintage show as a production dedicated to vintage fashion older than 50-years-old. [38:50] The "live mannequin" feature at the Twin Cities True Vintage show  [44:00] What draws buyers and dealers from the coasts and internationally to a Midwest show  [45:00] The most rare and remarkable pieces on the floor at the April Twin Cities True Vintage Show. [48:49] Brooke's own personal collection and favorite vintage pieces. [56:45] The pieces Brooke has sold that she still thinks about — and her vintage bucket list.  EPISODE MENTIONS:  Daisy and Stella Vintage @daisyandstellavintage Twin Cities True Vintage Show @twincitiestruevintageshow Pre-Loved's coverage from the Twin Cities True Vintage Show @timelessvixen Timeless Vixen on Pre-Loved Podcast Dressing History video on "survival bias" Candice at Collecting Dust Glamdiggers Vintage Stay Gold Vintage Threadbare Sturbridge  Goldstein Museum of Design  Cora Violet Walters LET'S CONNECT: 

State Street Investment Management's president and CEO discusses the company's product strategy, corporate partnerships, and "incredibly important" retirement segment. Host: Greg Bartalos. Learn more about your ad choices. Visit megaphone.fm/adchoices

On this episode of Animal Spirits: Talk Your Book, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Michael Batnick⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ben Carlson⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ are joined by State Street's Michael Arone to discuss: the origin story of SPY, what's driving ETF adoption, geopolitics vs. AI, potential economic risks and more. Find complete show notes on our blogs... Ben Carlson's ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠A Wealth of Common Sense⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Michael Batnick's ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The Irrelevant Investor⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Feel free to shoot us an email at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠animalspirits@thecompoundnews.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ with any feedback, questions, recommendations, or ideas for future topics of conversation. Check out the latest in financial blogger fashion at The Compound shop: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://idontshop.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Ben Carlson are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. See our disclosures here: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://ritholtzwealth.com/podcast-youtube-disclosures/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ The Compound Media, Incorporated, an affiliate of ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ritholtz Wealth Management⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://ritholtzwealth.com/advertising-disclaimers⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. State Street Disclosure: Important Risk Information Investing involves risk including the risk of loss of principal.   ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Brokerage commissions and ETF expenses will reduce returns. The views expressed in this material are the views of Michael Arone through the period ended April 13, 2026 and are subject to change based on market and other conditions. This document contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected. Before investing, consider the funds' investment objectives, risks, charges, and expenses. To obtain a prospectus, which contains this and other information, call 1.866.787.2257 or visit www.ssga.com. Read it carefully. ALPS Distributors, Inc. (fund distributor); State Street Global Advisors Funds Distributors, LLC (marketing agent). 8870050.1.2.AM.RTL SPD004538 Expiration: 4/30/27 Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Derek Miller, Speaking on Business. Hamilton Partners is a leading commercial, retail and industrial real estate developer in the Salt Lake City region. They're known for their commitment to creating quality properties while supporting both employees and clients' long-term success. Partner George Arnold, joins us with more. George Arnold: Hamilton Partners started with a vision to create high-quality spaces where businesses and people can thrive. Today, we're one of the largest privately held real estate development firms in the central U.S., with over 17 million square feet of office, industrial and residential properties. In Salt Lake, we're proud to contribute to the city's growth with premier projects like 222 Main Street, the Newhouse and Boston Buildings and the Hamilton I-215 Logistics Center. Our current projects in Salt Lake — like 324 State Street, 111 East Broadway, Hamilton Logistics Center, North Point Commerce Center and the Cinq and Luma apartments — continue to shape the future of this vibrant city. At Hamilton Partners, our commitment goes beyond just building. It's about creating homes for businesses and families while delivering properties that exceed expectations for our tenants, investors and the communities we serve. Derek Miller: By investing in thoughtful real estate projects, Hamilton Partners is fostering economic growth, creating vibrant spaces, and supporting community development throughout Salt Lake City. Discover more about their impact at HamiltonPartners.com. I'm Derek Miller, with the Salt Lake Chamber, Speaking on Business. Originally aired: 4/27/26

In a world of noise and distraction, there is a trend in “Bringing Simplicity Back To Investing.” RICK FERRI and I talk about why it’s important for investments and why it’s important for individuals. You’re going to leave here understanding a new framework for looking at your investment portfolio and hopefully bring some peace of mind as you go forward. https://youtu.be/8EFnt_UTjEA Rick Ferri has been a good friend to the podcast. He shares his insights on simple investing, emphasizing the importance of clarity, discipline, and understanding the core principles of investing. He discusses the pitfalls of complexity, the value of index funds, and how to maintain a disciplined approach amidst market noise. https://open.spotify.com/episode/743dxOLLgZjUzKszZo4Owy?si=57mqK1ZmQ0a7LPdcwVoQ-g Keywords investing, index funds, simplicity, portfolio management, financial planning, discipline, asset allocation, tax efficiency, global growth, investment philosophy Key topics The philosophy of simple investingThe stages of investor learning: darkness, enlightenment, and simplicityThe importance of cash flow and intrinsic value in investmentsAsset allocation based on liabilities and time horizonTax-efficient investing strategies for taxable and retirement accountsRisks of alternative investments and private equity in retirement plansDiscipline and automation in maintaining investment strategies Chapters of “Bringing Simplicity Back to Investing” 00:00 The Philosophy of Simple Investing07:03 Stages of Investment Understanding11:19 Financial Planning and Purpose17:57 Implementing a Simple Portfolio23:01 Discipline in Investing30:46 Navigating Complexity in Wealth Management Resources Rick Ferri’s Website – https://rickferri.comBogleheads.org – https://bogleheads.orgIndex Fund Book by Rick Ferri – https://www.amazon.com/s?k=Rick+Ferri&ref=nb_sb_noss_2 Website – https://rickferri.comTwitter – https://twitter.com/RickFerri Skeptic’s Guide to Investing Outline: “Bringing Simplicity Back To Investing” Introduction: Three parts to simple investing: Philosophy, Strategy, Discipline Part 1: Philosophy: Overview: Embrace Simplicity – the Education of an Index Investor – 4 stages 1: Born in Darkness (who you ask, chasing returns, naive research) 2: Finding Enlightenment (measure, compare, enlightened) 3: Complexity Traps (slice'n dice, factors, the fallacy of perfection) 4: Embrace Simplicity (global equity, specific fixed-income as needed) Part 2: Portfolio Strategy Overview: Making the Philosophy Work for You 5: Setting Goals (family – culture, career – taxes, risk tolerance) 6: Managing Risk (three ways to allocate assets: required return, risk avoidance, cash-flow) 7: Tax Management (three account types, asset class tax, tax avoidance) 8: Investment Selection (ETF vs fund, balanced funds & TDFs) Part 3: Discipline: Overview: Implement, automate, stay the course 9: Implement fully (consolidate, tax issues, lump sum vs DCA) 10: Maintain regulatory (automate new, rollovers, TLH) 11: Adjust as goals change (accumulation vs distribution, tax situations, legacy) 12: Stay the Course (recommit occasionally, continue ed., conferences) Transcript of “Bringing Simplicity Back to Investing” Frazer Rice (00:00.962)Welcome aboard, Rick. Rick Ferri (00:02.3)Well, thank you for having me. Frazer Rice (00:04.258)Well, thank you. First of all, want to thank you for a kindness you showed me way back in time and having me on the Boggleheads podcast. It was probably worth at least 25 % of my book sales and it was a lot of fun to do and never forgot it. So it took a while, but here we are back on my podcast. And what I want to do is go through a little bit about really the three parts to simple investing, which I think is something, especially now with the proliferation of alternatives, a lot of noise with crypto. That sometimes we kind of lose sort of the forest for the trees as far as what’s the right things to be thinking about in terms of an overall investing philosophy sort of embrace. And so maybe let’s start with that. How do you think about the parts to a good investing thesis and what is your overall worldview on that? Rick Ferri (00:55.804)So I’ve been in the investment advisory industry now for 40 years. And what I have learned is that the simpler you can make investing and the simpler you can make the portfolio, the better for you, the better for your family, the better for those who will inherit your portfolio. Don’t make it complicated. Complexity is just job security for those people who are selling you things and trying to manage your money. And in the end, you don’t benefit from that. They do in the form of fees. And if you just had a simple portfolio of a few good index funds and maybe some individual securities, you’ll be much better off and your family will be better off in the long term. And that’s the philosophy of simple investing. Frazer Rice (01:50.947)Mm-hmm. Rick Ferri (01:53.208)The second part is a strategy. How do you go about doing this, particularly if you’ve had a complex portfolio? And the third thing is discipline, which is how do you stick with simplicity as an investment philosophy? Frazer Rice (02:06.318)Sure. and without the second two, it’s great to have high-minded thoughts and so on, but if you can’t do it, it’s all for naught, and then if you can’t stick with it, then the best laid plans just kind of go asunder here. So let’s go back to the philosophy for a second here, and as you think about, it’s almost like the life cycle of discovery and learning about how these things work. How do you think about that from an ARC perspective? Rick Ferri (02:12.561)Ha ha. Rick Ferri (02:36.05)So generally when you’re new to investing, you’re going to ask other people for advice. I where you get that from, might be a friend or family member, maybe a professional advisor, might be coworkers, maybe you’ll just get on the internet and start searching. I don’t know, but 99.9 % of the time you’re gonna run into advice that is not very good. And the advice will be, you should put your money here, you should put your money there. Use these 10 different funds. It’s just a lot of confusion, quite frankly. I call this stage darkness because you don’t, you you’re just investing in the dark. You don’t know. And a lot of the advice is going to be very short based upon short-term performance. So recency biased people are going to be recommending, but you know, growth stocks because the Magnificent Seven has done well in the past. Or buy crypto because crypto went up a lot in the past and so therefore you should buy it now. And so most of the advice you’ll get in darkness is going to be recent based upon recent performance and rather than looking at it over say how should you be investing over 10, 20, 30 years and that will end up being quite different. So darkness is where we all begin. And most people stay in darkness. They never get out of darkness because they don’t put the brain cells to work to look at how am I doing? I mean, how has that done for me? What seems to be happening in my portfolio? Really? Do I really know what’s going on? And then the ones who are very fortunate start asking questions about, what if I just Frazer Rice (04:06.125)You Rick Ferri (04:31.334)bought the market and bought an index fund and just got the return of say the US stock market or the international stock market and that’s all I ever did. Would I be better off? And the answer to that 98 % of the time is yes, you would be better off if that’s all that you did. And if you come to this realization, I call it the second stage, which is enlightenment, where you now realize that, okay, all the stuff I’ve been doing may have been okay. I’ve been moving in and out of things, but now I need to start looking at just buying the market and holding it for the longterm. And that’s enlightenment. But for some people, it doesn’t stop there. And they start to dig into this idea of indexing. When you start doing that, it’s good that you’re learning, but you’ll start running into a whole lot of noise. That is alternative indexes, enhanced indexes uh… explore strategies all of these things that you’re going to take this nice simple concept called indexing and make it complicated again. So you start adding all these things to your portfolio because it has the word index in it or maybe the word passive in it and uh… advisors are notorious for doing this it’s called complexity for job security Frazer Rice (05:39.148)Right. Rick Ferri (05:54.066)Basically, are, you know, you take the idea of indexing and you just add a lot of things all around the edges of it and you make a simple portfolio complicated. So the third stage of this process of simplicity is complexity. In other words, you’ve made something simple complex. Okay, so the last stage is Frazer Rice (05:54.221)You Rick Ferri (06:18.544)Simplicity. That is that you realize this is going on. You realize that all the stuff that you’re adding to your portfolio is just making it all complicated again. And that the people who are benefiting from this are not you, but the people that are selling you all this stuff. And you say, that’s it, I’m done. I’m going back to my second epiphany, if you will, which is simplicity. I’m just going to go back to a simple portfolio of a few broad index funds, US stock market index fund. An international stock market index fund that covers the whole market and a couple of bond funds, municipal bond fund and maybe corporate bond funds or treasury bond funds. And you could use index funds for those as well. And it’s a really low cost, very tax efficient and very simple. Frazer Rice (07:05.953)A couple of quick asides here. The first one is for people who are coming into this in and they’re in the darkness, but they are informed maybe from the TikTok world or Robin Hood or Kal-She or these or these betting orientations and distinguishing between betting and investing. How do you think about that and kick people over to the positive side of the force so that their emergence from the darkness into the enlightenment and simplicity doesn’t take them in a place where they really touch the stove in a bad way and have a bad experience that’s simple but bad. Rick Ferri (07:32.988)Right, okay. Rick Ferri (07:51.484)So there’s a concept called intrinsic value. You may have heard Warren Buffett speak about this. Well, you want to buy things that have cashflow. Bonds, for example, have cashflow. They pay interest. Stocks have cashflow. You have companies that are going concerns. They earn earnings and pay dividends. They buy back stock and they reinvest money. So you can value these things based upon these cashflows. Real estate has cash flow, it pays rent, or maybe you own timberland that you can cut the wood or you own a farm where you can harvest or lease it out. mean, these are cash flows. So the first thing that I have for cut in investing is cash flow. How do my investments generate cash or will generate cash later on down the road? That’s different than say buying gold or Bitcoin or currencies or commodities. Those things don’t have a way of generating a cashflow. One bar of gold put in a safe is one bar of gold a thousand years from now. It doesn’t become two bars of gold. doesn’t get little bars of gold. It doesn’t pay interest and so forth. mean, so unless you’re good at Frazer Rice (09:12.994)Right. Rick Ferri (09:16.966)Buying low and selling high, you can’t really expect to make anything other than maybe the inflation rate. And with commodities, you actually earn less than the inflation rate. Gold has earned a little bit more than the inflation rate. Where Bitcoin is going to end up, I have no idea. But the speculative assets are the ones that usually don’t have any intrinsic value. People are just betting on price because that’s all you have. I f price is going up, let’s buy it. Because the price went up. I don’t know where it’s going, but the price went up, so let’s buy it. And maybe someone dumber than us will buy it at a higher price from us, and then we can make money. But I mean, you have to trade these things. And what information do you have? None, really. It’s very difficult to come up with information that the market doesn’t already have. And you’re not a professional trader. So you might get lucky. I mean, people do get lucky. You you can flip a coin. And pick heads 10 times and if it comes up head 10 times it doesn’t mean you’re a good coin flipper you’re just lucky and so you can get lucky and you can make money doing this but it’s not a long-term investment strategy to do that it’s best to buy things that have cash flows or will have cash flows in the future. Frazer Rice (10:30.175)As I like to tell people, you not only have to be right, you have to be right twice, and then you have to be systematically right twice in order to make a living out of it. even professional traders struggle at that. And to think that you’re going to be better equipped than a lot of those folks is folly. And so I try to talk people out of that whenever I can, because I think… Rick Ferri (10:35.42)Correct. Frazer Rice (10:58.101)It’s just very difficult to play in that space and have that turn out to be a success. Okay, so we kind of have some ideas here around the philosophy and sort of the idea of, you know, sort of garnering luck versus skill and those types of components in that portfolio strategy, that second phase, maybe take us through that a little bit and how you take a good philosophy of simplicity and make it work for you. Rick Ferri (11:22.18)Right. So this gets into a little financial planning at the beginning of it because you can’t invest without a purpose. I you have to have a reason why you’re investing. It might be to pay future liabilities such as college for your children or retirement, or maybe you want to leave a legacy or maybe just trying to build wealth for the family, whatever it is. I mean, you have to have a purpose. And so what is the purpose? What are you trying to do? And you have to look at your life and you have to say, are my liabilities? What are my short-term liabilities? Do I want to buy a house? Or do I want to send my kids to Ivy League school? Do I want to retire early? And what are my liabilities? And sometimes it involves other family members. Maybe you have parents who need your help or siblings who need your help. So that’s a liability. The first thing you have to do is look at what are my liabilities? And included in that is how much you want to leave to your children. I often ask people, okay, you’ve got $10 million. How much do you want to leave to each of your three children? And they don’t have any idea. I said, do you want to leave more than 10 million or you want to leave less than 10 million? And a lot of people would say, well, they’ll get what’s left. Well, that changes the whole concept of investing if they’ll get what’s left. Frazer Rice (12:43.318)Sure. Rick Ferri (12:43.634)Versus, yes, I want to leave each of my child five million dollars when I die and I’m starting with ten. Okay, well that changes how you invest your money. So these are the liabilities. So that’s where you start with. And then you start looking at well, what are the short-term liabilities and what are the long-term liabilities? And long-term liabilities can be funded with equity. Meaning things that are ten years or longer out. I usually I tell people anything you’re to be spending your money on between say, Now and 10 years from now probably shouldn’t be in equity. You’ll be getting dividends and interest from your portfolio, which is fine. You could just spend that money. But in addition to that, I big chunks of money that you might be spending to buy a vacation home or whatever it is really should probably not be in equity. But the money that’s going to be not used for 10 years or longer, 20 years or maybe ever in your life, that can be in equity. don’t differentiate that first. A lot of times asset allocation, that’s what we’re talking about, starts with, well, what do you want between stocks and bonds? What do you want your portfolio to look like? What percentage in stocks and what percentage in bonds? I don’t think you really get to that number until you know when you’re going to be needing the money. If you’re going to be needing the money 10 years out, fine, that money can be in stock. So that would allocate a portion of that long-term money to stock and that might be a percentage. Okay, so that’s what we start with. A real basic look at who you are and what do you need and when are you going to need it and what are you trying to do for your heirs. And then that leads to an asset allocation between stocks and fixed income. The stocks again, I’m not investing in any stock money in liabilities that I have in the next say 10 years. So it’s long term. Okay. Now we have to look at the stock side. That’s the easy stocks. Stock investing is easy. I quite quite frankly, I’m working on a book right now about this, but stock investing is very simple. It’s much easier than fixed income and bond investing. Stock investing is simply we buy the global equity market. We’re just trying to buy the growth of global economic growth, global GDP growth. We’re trying to capture that, which has been going on. Rick Ferri (15:08.594)Fairly steady for about the last 250 years and continues to be that way as more and more countries shift more towards capitalism and away from fascism and communism and so forth and realizing that capitalism is the way if you want to take care of your people and you want to increase standards of living all around the world, it’s done through capitalism. much a fact of life. Capitalism works. Well, I’m well. Frazer Rice (15:31.185)I think many can agree with that, although it might not be popular here in New York. Rick Ferri (15:37.425)The reason New York existed was because it was a port for capitalism at first. So I mean, is the financial capital of the US still is New York. So you could disagree with it because you live in New York, but you’d be in a minority and you’d be outside of reality and history as well. But the idea is that it’s all I’m trying to capture this global growth of… Frazer Rice (15:41.686)That’s right. Frazer Rice (15:55.648)Exactly. Rick Ferri (16:03.026)Global economic growth, which is about 2 % per year in real terms. So if I get from equity, if I get the inflation rate and I get 2 % real growth and then I get about a 3 % dividend yield and that comes from both cash dividends and then buybacks, we’re looking at about a 7.5 % expected return from global equity. And that’s good enough. I mean, that’s all I need on my equity side. I’ll be outperforming inflation by about 5%. I’ll have to pay some taxes, but I’ll still have an actual real after-tax return of about 3%, which is good. Okay. The rest of it then goes into fixed income. And what type of fixed income? Well, that depends on what type of account that you have and what your taxes are. So if it’s in a taxable account, it could be municipal bond income, because it’s probably your best bet if you’re in anything other than a 22 % tax bracket. Or if it’s in your retirement account, could be corporate bonds. And depending what state you live in, it could be treasury bonds. But you don’t expect the treasuries or the corporate bonds or the municipal bonds really to give you much of a return over taxes and inflation. If you could pick up 1 % over taxes and inflation over 20 years or so by being in fixed income, I mean, you’re actually doing well. So that is more of a stabilizer, meaning you don’t want to be all in stock because you can’t handle the volatility of the stock market. It goes up and down too much, even though the asset allocation would say, well, you should have an awful lot of your money in stock because you have a lot of money that you’re not going to be needing in the next 10 years. But a lot of people can’t handle having a lot of money in stock. So you have fixed income that at least keeps up with taxes and inflation over the long term. And that becomes part of your asset allocation as well. So it’s kind of how you This is what you do first before you go out and pick any index funds. You have to go through this process. Frazer Rice (18:00.116)And then as part of that, I spend a lot of time basically all day, every day thinking about the tax management side of things and helping people understand their appetite for volatility and how that impacts their long-term goals and things like that. The creation of these buckets to understand where you are in your tax situation and where you’re going to be, that can have a pretty significant impact on how things do. And from your perspective, I that’s really just, that’s a function of projecting out the purposes that you described before with your current situation and then the vehicles with which to invest in. Rick Ferri (18:38.226)Right. And you’re not trying to hit the ball over the fence here. I mean, you’re just trying to get your fair share of the returns that are available to everybody. And through index funds, and this is where index funds come in, you can get exactly that. I mean, you could buy a global equity index fund, a global equity, covers the entire globe for a few basis points, 0.05 % per year fee. It’s very tax efficient. And that wasn’t the case. 30 years ago, 40 years ago, but it is now. that’s the way you should do this. You don’t want to leave out all these ideas that you’re going to go out and hire people who are going to outperform that because they don’t. A vast majority of them don’t. Frazer Rice (19:21.963)And so the machinery to implement these portfolios, ETFs are sort of standard tax-efficient ways to do things. Mutual funds distribute gains at the end, which is sometimes a nasty surprise for people who are learning about this. Maybe take us through your analysis on how to implement this index investing in a way that stays simple and tax-efficient and at the same time helps you take advantage of what’s out there. Rick Ferri (19:52.883)So we have to divide up the world between your taxable money. Again, you already have a portfolio. So you have all these legacy assets in a portfolio, in your taxable portfolio. Then you have your retirement portfolio, 401k, 403b, 457 IRA, rollover, Roth IRAs, tax-free portfolio. So you have to look at taxes first. To implement a…simple portfolio say in a 401k if you have access to a target date index retirement fund like a Vanguard or an iShare or a State Street very low cost Fidelity has one too but very low cost index target date retirement fund this does it all for you you don’t have to do anything you just have to buy one fund based upon what the asset allocation is underneath the hood of that particular fund. How much in stock, how much in bond. That’s all you need to do in a 401k. You could roll your own in a 401k by buying individual index funds like a US stock market index fund, an international index fund, and say a bond index fund. So you could do your own allocation if you wish. But a target date fund works really well there. In a Roth account, you probably just want to have equity because there’s no tax in a Roth account. So you want to get maximum growth out of that account. So I would you look at the Roth account and I’d say, well, I’ll just buy the global equity index fund and my Roth account. And that’s it. All I have. So you’ve got your retirement accounts, which are target date fund. Very simple. You’ve got your Roth accounts, which are just a global equity index fund. And the only thing you need to worry about is your taxable account. Taxable accounts always have issues because people will come in and they will have this list of stuff that they already own and guess what there’s a lot of embedded long-term capital gains in there and if you just sell it and go to a index portfolio you may not be doing the clients a good service because they’ll pay a tremendous amount of taxes and if they’re over 65 they’ll have to pay more for medicare ermor they’re going to lose their over 65 deduct i mean lots of bad things happen when you just sell out of a taxable account Rick Ferri (22:04.722)So there you’re going to be a little bit more tactical. know, you’re going to wait. The market will give us some opportunities to trade out of some stocks or some investments that may have losses. So you can then take those losses. You could sell other things to that have some gains to offset the losses. And I mean, you may never get out of everything that you’ve got in a taxable account. But the idea is to have this portfolio out there of say, a US total stock market index fund and a municipal bond fund. That you want to move towards. So as you’re selling these things off, you’re just putting the money in a US total stock market fund. And the reason I say US total stock market in a taxable account is because they’re so tax efficient. The dividend yield is down about 1.2%. They don’t distribute capital gains in an ETF. And that’s a great fund for a taxable portfolio. But you just can’t sell everything and buy it. You’ve got to crawl your way out of what you currently have. Frazer Rice (23:05.715)No, you have to do it thoughtfully or else you create hits that are unnecessary. So as we segue to the discipline portion here, one thing that’s popping up is the, I think the discipline to stay simple. The world out there, the US in particular, is making retirement accounts safe for alternative investments like private credit and private equity. Rick Ferri (23:10.256)Right. Frazer Rice (23:31.211)I just bristle and shudder because I think there’s a level of complexity and illiquidity that is misunderstood and it is going to be difficult, nay impossible, to properly educate people on where those things sit in the asset spectrum to the point where they justify their fees or anything like that. Maybe take us through what you think on that as we get to the discipline portion of how you sort of stay the course with this mindset. Rick Ferri (24:00.924)Well 401ks are allowing these private equity investments and private debt investments in, but I personally have not seen any of my clients and I have a lot of clients and I charge an hourly fee. So I’m not trying to sell anything or manage anybody’s money, but nobody’s asking for these things. where, where are they getting the idea that they should own them? Well, they’re getting from the people that were selling them, right? The people who are making fees from them. I haven’t seen any useful data that says that these things actually enhance your return. Alpha goes to the manager. I say that over and over again. If these things actually produced a higher rate of return than say just a corporate bond index fund, you’re not going to get it. It’s going to go to the advisor, it’s going to go to the manager, and all you’re going to do is take the risk. You’re going to take the risk and they’re going to get the excess return in the long term through fees. They don’t make any sense. You don’t do it. It’s just the rehash of active management and mutual funds, which has already been dismissed as not producing anything for you, the investor. It only generates fees for the people in the investment industry. This is just another iteration of that and we’ve already seen some cracks. Isn’t that what Jamie Dimon said? What are they cockroaches? I think is the word that he used in the private equity market. And yeah, I mean, this is not new. This is just a repackaging of ideas just that now they’ve been allowed to go into the 401k market. But you have to ask yourself why haven’t they been allowed to go into the 401k market for the last 40 years if they’ve been so great? It’s because the SEC Frazer Rice (25:31.978)Right. Rick Ferri (25:58.703)The Department of Labor said, no, we’re not going to allow these things in there. you give people enough rope to hang themselves. They’re not going to hang themselves, by the way. Somebody else is going to put the noose around their neck. And that’s the advisors who are doing that. Frazer Rice (25:59.499)Department of Labor and right. Frazer Rice (26:19.066)And I mean, a different podcast probably, but it’s something where the liability really is going to shift to the planned sponsors. I don’t care what happens and you know, they’re going to present these things and something’s going to blow up. And it’s like, know, you may you gave me the option and they’ve already those lawsuits already already proliferate. OK, so back to discipline a little bit here. What should people be doing in order to make sure they can carry carry out the. Rick Ferri (26:39.367)Yeah. Frazer Rice (26:47.147)What they’re doing in a systematic way and keep themselves safe from being distracted by all this noise. Rick Ferri (26:52.86)So again, that’s why we start out with the philosophy. You have to believe in the philosophy of simplicity and simple indexing. You can’t just jump to it because some TikTok video said buy index funds, okay? If you’re just jumping to it that way, then you’re not gonna have the discipline to stick with it because it’s just another phase or fad or whatever in your mind. You don’t really truly understand. Frazer Rice (27:14.346)Mm-hmm. Rick Ferri (27:22.32)Why you’re doing it this way. So it gets back to the philosophy. Really got to understand the philosophy and why this works better than 98 % of everything else out there over your lifetime. And then you create the strategy for yourself and now you’re working towards completing that. Again, in the retirement account it’s done quickly, but in your taxable account it could take a while. The discipline is while you’re getting your portfolio in line, the first thing you need to do from a discipline standpoint is actually do it. Actually go to your 401k and change what you’re investing in. Because so many people will do the strategy, but it never gets actually implemented. Or maybe it gets 50 % implemented. It never gets old. It doesn’t, I don’t want to say never, because I have a lot of clients who do fully implement it, but I also have clients that I’ve given them the plan and three years later or five years later they come back and they haven’t done anything. Okay. And so I say, you need to implement the plan. Nothing has changed. So you got to, the plan first off has to be implemented fully. And then once it gets implemented fully, it’s a lot easier to maintain it. But if it never gets implemented fully, then of course you can’t maintain it. So implementation of the plan fully is the first discipline, the first part of discipline. And then once that’s done, maintaining it. In other words, not being drawn off course. Yeah, it’s fine to say, the price of oil is gonna shoot through the roof because what’s going on in the Middle East, so I’m gonna buy an energy index fund. That sounds like something I should do. No, it’s something you could think about. Something might be interesting, but it’s not something you should do. So discipline transcends the urge to do things. In other words, like John Bogle said, don’t just do something, stand there. And that takes more going back and remembering why you have this philosophy, going back and looking at the data. Rick Ferri (29:46.151)going to the right place to find information. And I’ll mention the bogeyheads.org website to go back and remind yourself why you’re doing this. If you’re gonna stick with it and these things help you stick with it. The more you automate things too, the better it is. Like we’re in a 401k just automatically invest in the target date fund and don’t do anything else. So automation helps you as well. Frazer Rice (30:05.736)Hey, hey. Frazer Rice (30:14.109)No question, if you can take these things out of your own hands in many ways and delegate it out and it happens automatically, just a chance of success on that front. And then if life intervenes and things need to be adjusted, you deal with it at that point and not have CNBC or the world news whipsaw your viewpoint on these different things. So as we wind down here, just talk a little bit about the service that you provide, sort of these larger family office clients, because I think in a lot of times they gravitate toward complexity, they gravitate toward FOMO investing and how you help to center that back to this worldview so that they get where they’re going at scale at sort of that ultra high net worth world and remind them of you how they got there and how to not be how to not leave by by getting cast aside into these different whirlpools that are out there Rick Ferri (31:13.778)That’s a great question. So you got to pick your advisors well. So some of my clients have a net worth over a billion dollars. I have several clients that have several hundreds of millions of dollars and believe me, They have simple portfolios, total stock market, total international municipal bonds. It’s all they have. And it may seem strange, but they don’t have these limited partnerships that you can’t get out of or syndicated deals that may sound good. I say to them, you don’t have enough money to own those, meaning that if you’ve only got $100 million, you’re just chump change to the Goldman Sachs of the world or the Morgan Stanley’s. When it comes to who’s going to get the good deal on a the next private equity deal or venture capital fund. You’re the person they sell the leftovers to. I know it’s hard to people to accept this. They think they have a lot of money if they have a hundred million. But the fact is they don’t. I mean, if you’re not sitting on five, ten billion dollars, you’re not going to get preferential treatment. You’re going to get you might get lucky. Just like everything else, the coin flip idea, but most of the time you’re not going to end up coming out ahead. That’s not the way they make you feel when they sell you these things. They make you, even if you had a million dollars and your Wells Fargo broker is trying to sell you some limited partnership, they’re going to make it feel like you’re very special and that this is a very special deal that is just for you. Frazer Rice (32:46.505)You Rick Ferri (32:50.322)And that’s how it’s going to be sold to you. But in the end, when you look at your performance and you say, I want to get out of this thing and you can’t, you realize at that point that maybe you shouldn’t have done it to begin with. And I’ve had experience going back 30 years working with some of the very largest families in the country, some magnificent seven IPO families, and they all want to get back to simplicity. They want to get rid of all of the stuff that they had gotten. And it’s true. And it’s better for estate planning as well because you need to transfer these things eventually to somebody else’s name. Frazer Rice (33:35.785)you’ve triggered me. I’m dealing with this on multiple levels, on multiple different things, and I’ve had to be trustee on some of the complexity and sort of sit Indian style and try to own your way through it. It’s brutal. So. Rick Ferri (33:53.81)Wouldn’t it be so much nicer just to have, let’s say, a single total stock market ETF to have to deal with rather than all that other stuff? Frazer Rice (34:01.807)No question. OK, so as we wind down here, how do listeners and watchers find you? Rick Ferri (34:09.478)Well, they can find me at Rickferri.com. I’m not currently and I won’t be taking on any new clients. I’m sorry for that, but I have a set clientele and that’s all that I am working with and I won’t be expanding my clientele. But there are other people that do this that believe in what I do. And you can go to Rickferry.com and you could find their names there. But me personally, you can find me on Rickferry.com. I’ve written several books about this. I’m writing another one. And but I apologize that I’m not off the market as far as hiring me personally. Frazer Rice (34:45.645)I love it. But at the same time, your books and your other ways that get out there, they are on RickFerri.com. So we’ll have that in the show notes. In the meantime, Rick, thanks for being on. Rick Ferri (34:52.07)Yes, exactly. Thank you. https://www.amazon.com/Wealth-Actually-Intelligent-Decision-Making-1-ebook/dp/B07FPQJJQT/

HEADLINES:• UAE President and Elon Musk Discuss AI, Space in Phone Call• Brazilian legend Ronaldo named brand ambassador for Abu Dhabi developer Aldar• PIF backs Saudi ETF launch by $4tn asset manager State Street

العناوين:• رئيس دولة الإمارات وElon Musk يناقشون الذكاء الاصطناعي والفضاء في مكالمة هاتفية• أسطورة البرازيل Ronaldo يتم تعيينه سفير لعلامة Aldar في أبوظبي• صندوق الاستثمارات العامة في السعودية يدعم إطلاق صندوق ETF سعودي من شركة State Street اللي تدير أصول بقيمة 4 تريليون دولار

A very brief synopsis of my coming to the country this year being the 40th anniversary The history of me wanting to help people in South Africa and the beginning in this country The faith in which I was born in and the spirituality that I followed as a child and adult - culminating in me opening the Indian Association, Of Santa Barbara encompassing the Sikh Association of Santa Barbara. This led to much interfaith work and eventually into working with different religious organizations to bring a more positive role in interfaith gatherings The history of the start of the “Street Langar “and how I intend to do this in Santa Barbara in Association with the UCSB SIKH ASSOC Which will also be held on 25 April on State Street close to the corner of Cota Street

Kemena Brooks, Chicago Loop Alliance’s Board Chair, joins Bob Sirott to talk about gatherings in the Loop as the weather gets warmer and the challenge of navigating teen takeovers. She also shares details about and arts and culture study that will take place this year and the increase of businesses opening on State Street.

The proposed downtown Lockport development at former Dellwood Tire site would include commercial space and an apartment complex.Become a supporter of this podcast: https://www.spreaker.com/podcast/shaw-local-s-bears-insider-podcast--3098936/support.

Israel and Lebanon 10-day ceasefire took effect from 17:00EDT on Thursday. Despite this, reports indicate that Israel bombed several villages in southern Lebanon after announcing the ceasefire agreement.US President Trump said the Iran war is going swimmingly and should be ending pretty soon, added going to see some incredible results.European bourses mixed; US equity futures remain near ATHs, NFLX slips after maintaining guidance and co-founder stepping down.DXY slightly softer, G10s mixed, GBP unreactive on UK politics.Global fixed benchmarks broadly unchanged awaiting Fed speak.Crude pressured despite light newsflow, Israel/Lebanon ceasefire shows fragility.Looking ahead, highlights include Canadian Housing Starts (Mar). Speakers include BoE's Pill, Fed's Daly, Barkin & Waller. Earnings from State Street. Credit Reviews include Morningstar DBRS reviews credit rating on the EU and Italy.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said they are making a lot of progress on Iran, and he is not sure the ceasefire needs to be extended, while he added that Iran is willing to do things today they previously weren't.US President Trump said he had excellent conversations with Lebanon's President Aoun and Israeli PM Netanyahu, while he announced that the leaders agreed to formally begin a 10-day ceasefire from 17:00EDT on Thursday.Israeli security official said the military has no plans to withdraw forces from Southern Lebanon during a ceasefire.A source told Al-Mayadeen that starting Friday, at noon (10:00BST) anyone wishing to cross Bab al-Mandab should be more vigilant than ever before in all six directions, while other reports noted that the warning was made by a resistance commander.APAC stocks were mostly lower; European equity futures indicate a lower cash market open with Euro Stoxx 50 futures down 0.2%.Looking ahead, highlights include Italian Balance of Trade (Feb), Canadian Housing Starts (Mar). Speakers include BoE's Breeden & Pill, Fed's Daly, Barkin & Waller. Earnings from State Street. Credit Reviews include Morningstar DBRS reviews credit rating on the EU and Italy.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

In der heutigen Folge sprechen die Finanzjournalisten Daniel Eckert und Lea Oetjen über Konsequenzen bei der Lufthansa, ein lehrbuchhaftes Comeback von Albemarle und einen Abschied bei Netflix. Außerdem geht es um Fraport, Gerresheimer, DocMorris, Redcare Pharmacy, PepsiCo, Abbott, Charles Schwab, Autoliv, Ericsson, State Street, Ally Financial, Hermès, Boeing, Lindt & Sprüngli, Hershey, Barry Callebaut, Nestlé, Unilever, iShares Core Dax ETF (WKN: 593393) und iShares Core MSCI World ETF (WKN: A0RPWH). Wir freuen uns an Feedback über aaa@welt.de. Noch mehr "Alles auf Aktien" findet Ihr bei WELTplus und Apple Podcasts – inklusive aller Artikel der Hosts. Hier bei WELT: https://www.welt.de/podcasts/alles-auf-aktien/plus247399208/Boersen-Podcast-AAA-Bonus-Folgen-Jede-Woche-noch-mehr-Antworten-auf-Eure-Boersen-Fragen.html. Hier könnt ihr den AAA-Newsletter abonnieren: https://www.welt.de/newsletter/article232797673/Alles-auf-Aktien-Der-taegliche-Boersen-Newsletter-fuer-WELTplus-Abonnenten.html Und - ganz neu: AAA gibt es jetzt auch auf Instagram: https://www.instagram.com/alles_auf_aktien/ Disclaimer: Die im Podcast besprochenen Aktien und Fonds stellen keine spezifischen Kauf- oder Anlage-Empfehlungen dar. Die Moderatoren und der Verlag haften nicht für etwaige Verluste, die aufgrund der Umsetzung der Gedanken oder Ideen entstehen. Hörtipps: Für alle, die noch mehr wissen wollen: Holger Zschäpitz können Sie jede Woche im Finanz- und Wirtschaftspodcast "Deffner&Zschäpitz" hören. +++ Werbung +++ Du möchtest mehr über unsere Werbepartner erfahren? Hier findest du alle Infos & Rabatte! https://linktr.ee/alles_auf_aktien Impressum: https://www.welt.de/services/article7893735/Impressum.html Datenschutz: https://www.welt.de/services/article157550705/Datenschutzerklaerung-WELT-DIGITAL.html

The Supreme Personality of Godhead is situated as the Supersoul within the cores of the hearts of all living entities—whether moving or non-moving—including men, birds, animals, trees, and indeed, all living entities. Therefore, you should consider every body a residence or temple of the Lord. By such vision, you will satisfy the Lord. You should not angrily kill these living entities in the form of trees. (SB 6.4.13) I have to read this again because it's so nice; it really gets to the essence of our philosophy. In a verse in the Śrīmad-Bhāgavatam, it is mentioned that our main religious principle is to give up envy of other living entities. That's not a universally propagated idea. In fact, even in so-called religious culture, there are different forms of envy and enmity that arise. I'll say that many people are sensitive to those who have envy and sectarian tendencies. I remember after 9/11, Does anybody remember that? Many of you were just little babies. Anyway, it was a traumatic time. I went to New York City to distribute books, a little time after that. I remember that people were traumatized. Even on the street, some people broke into tears. It was so traumatizing for the whole country, what to speak of being in New York City. One day, I was giving a book distribution seminar at the Brooklyn temple, and during one of the breaks, I walked out the door with my friend and Godbrother, Mitrasena Prabhu. I remembered that we should grab a book before we went out for a walk, because I had just mentioned it in the semina. What if I was caught empty-handed? So, we reached inside the door, took a Śrī Īśopaniṣad, took a left, went straight, and took another right. Actually, it was State Street in New York, and just then we came across a very hefty-looking gentleman in a t-shirt and pants that he had obviously been working in. He was leaning against an enormous pickup truck. There was some demolition and reconstruction going on State Street—regentrification of the brownstone apartments there. He saw us come around the corner in our dhotīs and other Vaiṣṇava symbols as he was whiling away his time on his break. He looked at us both and goes, "What are you? Buddha?" In an instant, I knew that was who the Śrī Īśopaniṣad was meant for. I took it out and I said, "No, we're not Buddha, but we follow these various principles." I handed him the Śrī Īśopaniṣad and I read him two verses, the sixth and seventh: yas tu sarvāṇi bhūtāny ātmany evānupaśyati sarva-bhūteṣu cātmānaṁ tato na viju-gupsate yasmin sarvāṇi bhūtāny ātmaivābhūd vijānataḥ tatra ko mohaḥ kaḥ śoka ekatvam anupaśyataḥ These two verses are about how, when one sees every living being as a spiritual spark, qualitatively one with the Lord, becomes a true knower of things, what then can be illusion or anxiety for such a person? We should follow in the footsteps of those who have that vision. We shouldn't imitate; we should follow in the footsteps of those who have that vision and treat everyone with respect. In the post-9/11 atmosphere, where New Yorkers especially felt they were being assailed by outsiders who had sectarian views that caused them to hate, to want to kill, and to smash buildings and so forth., he was taken aback when he..(0:55:15) ------------------------------------------------------------ To connect with His Grace Vaiśeṣika Dāsa, please visit https://www.fanthespark.com/next-steps/ask-vaisesika-dasa/?utm_source=youtube&utm_medium=video&utm_campaign=launch2025 https://vaisesikadasayatra.blogspot.com/

In der heutigen Folge sprechen die Finanzjournalisten Daniel Eckert und Lea Oetjen über den besten Börsentag seit Monaten, den Mynaric-Deal von Rocket Lab und den Stellenabbau bei Oracle. Außerdem geht es um Volkswagen, Tesla, Apple, Amazon, Meta, Arm Holdings, Berkshire Hathaway, Unilever, McCormick, Mercedes-Benz, Lufthansa, Redcare Pharmacy, Energiekontor, Südzucker, Electrovac, Deutsche Telekom, Rocket Lab, Rheinmetall, Booking Holdings, Chewy, Hasbro, Wayfair, Citigroup, Mastercard, State Street, Zions Bancorporation, Johnson Controls, Trane Technologies, Rockwell Automation, SPDR MSCI World Consumer Discretionary (WKN: A2AGZZ), iShares MSCI World Financials (WKN: A2PHCE) und iShares MSCI World Industrials (WKN: A2PHCL). Wir freuen uns an Feedback über aaa@welt.de. Noch mehr "Alles auf Aktien" findet Ihr bei WELTplus und Apple Podcasts – inklusive aller Artikel der Hosts. Hier bei WELT: https://www.welt.de/podcasts/alles-auf-aktien/plus247399208/Boersen-Podcast-AAA-Bonus-Folgen-Jede-Woche-noch-mehr-Antworten-auf-Eure-Boersen-Fragen.html. Hier könnt ihr den AAA-Newsletter abonnieren: https://www.welt.de/newsletter/article232797673/Alles-auf-Aktien-Der-taegliche-Boersen-Newsletter-fuer-WELTplus-Abonnenten.html Und - ganz neu: AAA gibt es jetzt auch auf Instagram: https://www.instagram.com/alles_auf_aktien/ Disclaimer: Die im Podcast besprochenen Aktien und Fonds stellen keine spezifischen Kauf- oder Anlage-Empfehlungen dar. Die Moderatoren und der Verlag haften nicht für etwaige Verluste, die aufgrund der Umsetzung der Gedanken oder Ideen entstehen. Hörtipps: Für alle, die noch mehr wissen wollen: Holger Zschäpitz können Sie jede Woche im Finanz- und Wirtschaftspodcast "Deffner&Zschäpitz" hören. +++ Werbung +++ Du möchtest mehr über unsere Werbepartner erfahren? Hier findest du alle Infos & Rabatte! https://linktr.ee/alles_auf_aktien Impressum: https://www.welt.de/services/article7893735/Impressum.html Datenschutz: https://www.welt.de/services/article157550705/Datenschutzerklaerung-WELT-DIGITAL.html

What does Vanguard's $29.5 million settlement tell us about the growing legal and political fight over ESG investing? In this episode, we break down a first-of-its-kind agreement between Vanguard and 13 Republican state attorneys general that partially resolves a multistate antitrust lawsuit alleging major asset managers used their holdings in coal companies to influence output and strategy under the banner of ESG—while also examining the broader implications for asset managers, proxy voting, and the increasingly aggressive state-level scrutiny of ESG-related investment activity as claims against BlackRock and State Street move forward. Hosted by Simone Roach. Based on a blog post by Paul L. Singer, Abigail Stempson, Beth Bolen Chun, and Andrea deLorimier.

Shamus Toomey, Editor in Chief and co-founder of Block Club Chicago, joins Bob Sirott to share the latest Chicago neighborhood stories. Shamus has details on: Police Offer Free Steering Wheel Locks To NW Side Honda Civic Owners To Counter Airbag Thefts: Car owners citywide have reported over 70 airbag thefts targeting Honda Civics and other Honda […]

On Tuesday March 23, the NY Immigration Coalition and other supporters of the New York For All blockaded the state entrance to the Capitol, including stopping traffic on State Street. The Act would mandate attorneys for immigrants facing deportation. The bill has not yet been re-introduced this year as changes are being negotiated. The protestorsICEimmigratio eventually went inside the Capitol to continue their protest but the state police declined to arrest people. We hear the read testimony of several people who have had negative interactions with ICE, followed by Rev. Peter Cook, and then from several of the nearly dozen state legislators who sat down on the street outside the Capitol, including Assemblymembers Sarahana Shrestha, Claire Valdez, and Diana Moreno and Senator Jabari Brisport. By Mark Dunlea for Hudson Mohawk Magazine.

Gianni and co-host Jeanie celebrate 6.5 years and their 360th Hollywood Godfather podcast episode, teasing expanded reach and possible national radio. In a mailbag show, Russo promotes the Chiller convention April 2–4 at the Hanover Marriott in Whippany, New Jersey, urging fans to buy his books Hollywood Godfather and Mafia Secrets on Amazon and bring memorabilia for signing; they also plug his Cameo messages. Russo answers questions about travel (rarely Midwest), fitness (walking two miles daily at Bloomingdale's), and changes in modern mobsters, describing a recent intimidation call. He discusses benefits with boxer Boom Boom Mancini, memories of his State Street restaurant and staff who became successful, the origin of a photo of him selling pens, and historic NYC spots. Russo says producer George Gallo is developing a Mafia Secrets screenplay tied to Marilyn Monroe claims, shares a Sinatra-Ava Gardner story, recounts AJ Pratt “Tailor from Sin City,” explains Godfather set details (Brando's cat, real horse head), gives an update on Resorts World Aqueduct timing, recalls attending major boxing matches, and describes Vegas showgirls and his wig business.

How does a high school top pick and champion college basketball player build and protect an elite mindset? In Season 6 Episode 12 (EP. 134) of the What Dewey Do? Podcast, Nimari Burnett, current starting shooting guard for the University of Michigan men's basketball team, opens up about his journey and the hard-earned lessons from his dynamic career — from navigating the grind of college hoops to capturing a Big Ten championship, and embracing what he calls the “new era of NIL.” We break down the culture shift under new head coach Dusty May, the shared championship mindset, and the standard every player must commit to in order to win at the highest level in the Big Ten Conference. If you want an up-close, unfiltered look at the real college basketball landscape straight from both player and coach perspectives, this episode pulls back the curtain and reveals the truth behind the jersey of a Big Ten Champion. Don't miss this powerful episode and discover how athletes like Nimari balance academics, pressure, performance, and personal growth while chasing greatness on and off the court.   Quotes: - Dewey Steffen: "It takes a very humble player or a very team-oriented player because there are only five guys that can be out there at the end of the game, whether the game's on the line or not.”   - Nimari Burnett: "The biggest component of basketball is when you take a step back and have a coach's perspective, and also an unselfish mindset.”   - Nimari Burnett: "You are capable of doing what you set out to do, honestly, even more than that."   Nimari Burnett is the current starting shooting guard for the Michigan Wolverines of the Big Ten Conference. He previously played for the Texas Tech Red Raiders and Alabama Crimson Tide. He is also currently pursuing a Master of Social Work at the University of Michigan. Nimari takes pride in serving his community and building relationships that can become impactful and meaningful in any chosen field. He brings the same resilience, discipline, and focus he's developed on the court into his professional and academic pursuits. His journey has shaped him into a leader who thrives under pressure, values teamwork, and approaches challenges with creativity and confidence.   FB: https://www.facebook.com/profile.php?id=61582616492887 LI: https://www.linkedin.com/in/nimari-burnett-6a7219383/  IG: https://www.instagram.com/nimari.burnett/  TikTok: https://www.tiktok.com/@nimariburnett    ➡️ WDD TikTok: https://www.tiktok.com/@whatdeweydopodcast ➡️ WDD Instagram: https://www.instagram.com/whatdeweydopodcast ➡️ WDD Facebook: https://www.facebook.com/whatdeweydo ➡️ GLW YouTube: https://www.youtube.com/@GLWealth   Thanks for watching! What Dewey Do? is a podcast by Great Lakes Wealth (www.greatlakeswealth.us) and executively produced by Evry Media (https://www.evry.media.com) and Broadcast Your Authority (https://www.BroadcastYourAuthority.com). Great Lakes Wealth, LLC is a registered investment advisor. The information provided is solely for informational purposes. Advisory services are only offered to clients or prospective clients where Great Lakes Wealth and its representatives are properly licensed or exempt from licensure. No advice may be rendered without a service agreement in place. Securities offered through Purshe Kaplan Sterling Investments, Member FINRA/SIPC Headquartered at 80 State Street, Albany, NY 12207.   Purshe Kaplan Sterling Investments and Great Lakes Wealth are not affiliated companies. The views reflected in the commentary are subject to change at any time without notice. Nothing herein constitutes investment advice or a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security or a depiction of past investments made by Great Lakes Wealth, LLC.

The investment giant Vanguard is retreating from its climate initiatives as part of a $30 million settlement deal for an anti-trust lawsuit brought by Republican state attorneys general. The lawsuit alleged that Vanguard and fellow asset managers BlackRock and State Street, which are still fighting the suit, conspired to kill the coal industry. Vanguard did not admit to wrongdoing but is now barred from participating in climate investment watchdog groups such as Ceres.   Also, facing pain at the pump, US drivers looking to buy an electric vehicle now have more and cheaper choices than ever. But with the $7500 federal tax credit for new electric vehicles now gone, you may be wondering whether EVs are the smart buy in 2026. We share some insights about EV options, cost and the charging network.   And since the US capture of President Nicolás Maduro in early January, there has been a lot of discussion about Venezuela's massive oil reserves. But it also turns out that Venezuela is ideally positioned to harness abundant clean, renewable energy, particularly from wind. We map out this blue-sky vision for a green Venezuela. --- Join LOE and Inside Climate News for the next Living on Earth Book Club event on Thursday, March 26th! We'll talk with data scientist Hannah Ritchie about her new book Clearing the Air: A Hopeful Guide to Solving Climate Change in 50 Questions and Answers. Learn more and sign up for this free, live online event at loe.org/events Learn more about your ad choices. Visit megaphone.fm/adchoices

Banking as a service and embedded finance get a practical breakdown as Academy Bank's David Robinson explains how a family-owned Kansas City institution built a BaaS program from the ground up. Tedd Huff, CEO of fintech advisory firm Voalyre and founder of Fintech Confidential, and co-host Stephen Bishop sit down with David to unpack what it takes to launch, staff, and scale an embedded banking practice at a community bank.Find out more at fintechconfidential.comAcademy Bank, a subsidiary of Dickinson Financial Corporation, operates alongside Armed Forces Bank with roughly $4.8 billion in combined assets and a stated goal of reaching $6 billion. David walks through why the bank chose Treasury Prime as its middleware provider, how it integrated Lithic for card processing, and why keeping compliance and BSA functions in-house was a non-negotiable. The conversation gets specific about due diligence red flags, deals that fell apart mid-process, fee income versus deposit economics, and what changed internally when embedded banking finally showed up in every team's annual goals.1️⃣ Prepare for bank meetings like an earnings call; anticipate every compliance question before the first conversation.2️⃣ Build your AML, BSA, and fraud monitoring team before approaching a sponsor bank, not after.3️⃣ Bring your operations and compliance leads to early bank meetings, not just the founder.4️⃣ Treat banker feedback as a data point; show how you tested it and what you changed.5️⃣ Ask your bank partner if embedded work appears in the annual goals of their compliance, risk, and legal teams.GUESTDavid Robinson LinkedIn: https://www.linkedin.com/in/dmrembeddedbanking/COMPANYAcademy Bank: https://www.academybank.comAcademy Bank BaaS: https://www.academybank.com/business/banking-as-a-serviceFINTECH CONFIDENTIALPodcast: https://fintechconfidential.com/listenNotifications: https://fintechconfidential.com/accessLinkedIn: https://www.linkedin.com/company/fintechconfidentialX: https://x.com/FTconfidentialInstagram: https://www.instagram.com/fintechconfidentialFacebook: https://www.facebook.com/fintechconfidentialSUPPORTERSSkyflow: Build fast without breaking privacy. A zero-trust data privacy vault delivered as an API. Visit https://skyflowsecure.com Under: Streamline your application and underwriting process by turning PDFs into smart, signable forms. Get started free at https://under.io/ftcHawk AI: Real-time payment screening, AML transaction monitoring, and dynamic customer risk rating to fight fraud and financial crime. Sign up for a demo at https://gethawkai.comABOUTGuest: David Robinson is Director of Fintech and Embedded Banking at Academy Bank. He brings over 20 years of financial services experience across State Street, UMB Bank, and now Academy Bank, where he built the embedded banking practice from the ground up starting in December 2022.Company: Academy Bank is a full-service community bank under Dickinson Financial Corporation, headquartered in Kansas City, Missouri. Named one of Fortune's Most Innovative Companies in 2023, it operates over 70 branches across Arizona, Colorado, Kansas, and Missouri.Host: Tedd Huff, CEO of fintech advisory firm Voalyre and founder of Fintech Confidential. The show is produced by DD3 Media and brings you the people, tech, and companies that change how you pay and get paid.CHAPTERS00:00 Episode Highlights01:24 Skyflow Sponsor Read02:26 Meet the Hosts03:39 Introducing David Robinson04:37 Defining BaaS and Embedded Finance05:29 Academy Bank Growth Strategy06:56 Rapid Fire: This or That08:11 Choosing Treasury Prime09:22 Future Programs and Segments09:53 What Stays In-House12:42 Managed vs. Bank-Owned Compliance14:35 Marketplace Shift and Multi-Platform16:53 Partnerships Are a People Business18:26 Under Sponsor Read18:56 How Banks Vet Fintech Fit19:25 Diligence and Fit20:21 Regulators and Scale21:30 When Deals Fall Apart23:23 Greenlights and Redlines24:23 Advice for Fintechs26:12 Why Academy Bank27:49 Top Tips and Misconceptions29:38 Fees vs. Deposits30:46 Internal Shift and Speed35:47 Crystal Ball and Closing36:54 Final Advice for Founders38:51 Wrap Up39:23 Hawk AI Sponsor Read40:09 Disclaimer

In this week's episode of the Rich Habits Podcast, Robert Croak and Austin Hankwitz sit down with Alexandra Wilson-Elizondo, the co-Chief Investment Officer of Multi-Asset Solutions at Goldman Sachs. ---

In this week's episode of the Rich Habits Podcast, Robert Croak and Austin Hankwitz explain how to use prediction markets like Polymarket and Kalshi to their fullest potential. ---

Today's guest is Emmanuel Ranchin, VP Global Cyber Security Fusion at State Street. Founded in 1792, State Street are a global leader across investment servicing, markets and financing and investment management. With 11.5% of the world's financial assets flowing through their doors every day, they are a trusted partner to institutional investors and a vital part of the global economy. Together with their clients, State Street help create better outcomes for the world's investors and the people they serve.Emanuel is an accomplished Programme Manager with strong analytical, problem-solving and IT skills, built on a foundation in Chemical Engineering and extensive experience in the Financial Services industry. A results-driven team leader with excellent interpersonal and communication abilities, Emanuel is highly committed, approachable and adaptable leader who consistently delivers successful outcomes.In the episode, Emmanuel discusses:0:00 His journey from engineering to leading cybersecurity governance in banking5:30 Why Cybersecurity needs accountability, culture and business partnership9:28 How Cyber hygiene culture extends beyond work into daily life11:56 His advice to stay curious, be open-minded and keep learning to stay relevant15:32 Why clear communication, emotional intelligence and simplifying complexity drive success18:47 Effective communication requires time, cultural awareness, feedback and adaptation22:39 The need to build trust, model behavior, embrace feedback, balance risk and enable AI24:32 Innovation requires curiosity, culture change, clear goals and empowered thinkingTo find out more about all the great work happening at State Street, check out the website www.statestreet.com

ETF flows are once again on a record pace in 2026. Matt Bartolini looks at the causes, both secular and tactical, behind continued interest in the products. The rise of active ETFs has “created a broader opportunity set” for investors to build portfolios, he says. He shares ETFs from his firm, State Street, including the Public & Private Credit ETF (PRIV) and the Bridgewater All-Weather ETF (ALLW), and why viewers might be interested in these diversifying options.======== Schwab Network ========Empowering every investor and trader, every market day.Options involve risks and are not suitable for all investors. Before trading, read the Options Disclosure Document. http://bit.ly/2v9tH6DSubscribe 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

In this week's episode of the Rich Habits Podcast, Robert Croak and Austin Hankwitz walk their listeners through how to invest their first $1,000. ---

Story of the Week (DR):Netflix Backs Out of Bid for Warner Bros., Paving Way for an Ellison TakeoverNetflix CEO Sarandos visited White House right before streamer said WBD deal is offEquity HoldersPublic Investment Fund (PIF) Saudi Arabia ~$8 billionQatar Investment Authority (QIA) Qatar ~$8 billionL'imad Holding Company UAE (Abu Dhabi) ~$8 billionTotal Sovereign Equity Middle East Consortium ~$24 BillionWhile these funds provide nearly 60% of the equity needed for the takeover, the deal is structured to prevent a "block" by the U.S. Committee on Foreign Investment (CFIUS):Non-Voting Equity: The funds will hold "passive" stakes. This means they do not have board seats, voting rights, or direct say in daily operations.The Ellison Safeguard: Tech billionaire Larry Ellison (Oracle) and his son David Ellison (Skydance) are the primary controllers of the voting power to maintain "American control" over sensitive assets like CNN and CBS News.Neopbaby dropped out of USC film school in 2005Jack Dorsey's Block to Lay Off 40% of Its Workforce in AI Remake MMJack Dorsey's mea culpa after Block layoffs: 'We overhired' Jack Dorsey struck an 'empathetic' tone as he laid off nearly half of Block"I had two options: cut gradually over months or years as this shift plays out, or be honest about where we are and act on it now. I chose the latter."C3.ai slashes 26% of staff as CEO admits failure to deliver and 'burning too much money'Jamie Dimon says society should start preparing for AI job displacement: ‘Now's the time to start thinking about' itWiseTech Global cutting 30% of workforce in AI restructureJack Dorsey just gave us our first glimpse at how doomsday layoffs could work in the AI era — and it's bleakBlockCo-founder and CEO/Chair Jack Dorsey: 46% influence/41% voting powerCo-founder and director James McKelvey: 35% influence/41% voting powerClassified boardClass B shares worth 10 votes (co-founders control 99.6% of these shares, Dorsey with 80%)CPO not part of leadership team13 state AGs win victory against ESG with Vanguard settlementHere are the 5 key points of the victory:$29.5 Million Settlement: Vanguard agreed to pay a total of $29.5 million to the 13 participating states to resolve claims that it violated antitrust laws through coordinated climate activism"Strict Passivity" Commitments: As part of the deal, Vanguard pledged to return to a "passive" investment role. This means it will no longer use its shareholder influence to dictate corporate strategy, nominate directors, or push environmental and social proposals that could reduce company profitability.Expanded Proxy Voting: Vanguard will expand its "Investor Choice" program to funds representing at least 50% of its U.S. equity assets. This allows individual investors—rather than the firm's management—to decide how their shares are voted on major corporate issues.Protection for Energy Industries: The lawsuit alleged that Vanguard, BlackRock, and State Street formed a "cartel" to suppress coal production and drive up energy prices. The settlement requires Vanguard to prioritize customer profitability over "woke" social agendas that target the American energy sector.As a part of the settlement, Vanguard will “pay $30 million in fines, turn over all documents related to their coordinated ESG activism, and end all ESG activism for years to come,” Executive director of Consumers' Research Will Hild saidParticipating States: Alabama, Arkansas, Indiana, Iowa, Kansas, Louisiana, Missouri, Montana, Nebraska, Oklahoma, Texas, West Virginia, and Wyoming.Epstein junkLarry Summers Will Resign From Harvard After Jeffrey Epstein RevelationsHe will leave at the end of the academic year.Former Nebraska Sen. Bob Kerrey Resigns From Monolith Amid Epstein EmailsWas Chair; board down to 8 men and 0 women Hillary Clinton suggests the House Oversight Committee should subpoena Elon Musk in combative opening statement World Economic Forum CEO quits after Epstein links examinedBørge Brende, is stepping down, after the forum launched an independent investigation into his relationship with Jeffrey Epstein.Brende, a former Norwegian Minister of Foreign Affairs, has announced he is stepping down from WEF to avoid “distractions”Corporate boardsStatoil, Member of the Board (2012–2013)Mesta, Chairman of the Board (2009–2011)Epstein files: Ex-UK ambassador to U.S. Peter Mandelson arrested in LondonLondon police released Peter Mandelson on bail Tuesday following his arrest for suspected misconduct in public office. The former U.S. Ambassador is under investigation for his ties to Jeffrey Epstein, mirroring the recent arrest of Andrew Mountbatten-Windsor on similar groundsBoard rolesGlobal Counsel (Co-founder, Chairman, and major shareholder) until 2025Chairman of Lazard International (2013-2025)Director at Sistema (2013-2017)Director at Global Ports HoldingGroup Holding Board member at The Bank of LondonChairman of the Board for the Design Museum in London (2017-2023)Goodliest of the Week (MM/DR):DR: Anthropic boss rejects Pentagon demand to drop AI safeguardsDR: Olympic gold winning U.S. Women's Hockey Team reportedly accept Flavor Flav's invitation. This comes after rejecting Donald Trump's White House celebrationMM: Women's wealth is expected to boom: Where they are investing and how they can maximize returnsMM: FedEx Says It Could Return Tariff Refunds to CustomersCompanies that do anything not to pay taxes, happily lean into greedflation, and FedEx will… give it back???Triggering-iest of the Week (MM):ASSHOLE OF THE WEEK:Vanguard Settles Case Claiming It Tried to Kill the Coal Industry“Vanguard will include among the proxy voting choices made available to investors in U.S. Vanguard-Advised Funds the option of proxy voting shares in accordance with management recommendations.”“Vanguard will not direct or attempt to direct the business strategies or operations of portfolio companies, and will not advocate to any portfolio company that it take any particular course of conduct to reduce carbon emissions.”“Vanguard will not nominate directors or submit shareholder proposals at portfolio companies.”“Vanguard will not solicit or participate in soliciting proxies with respect to any matter presented to portfolio company shareholders.”“Vanguard will not dispose or threaten to dispose of securities of portfolio companies as a condition or inducement of specific action or nonaction by such company.”“Vanguard and its U.S.-domiciled subsidiaries will withdraw from PRI and will not participate in any organization that advocates for the setting of specific output or emissions targets or levels or that requires its members to make commitments specific to achieving climate-focused investment or stewardship objectives such as NZAM, Ceres, or Climate Action 100+.”“Prior to or at the outset of any engagement meeting with a portfolio company, Vanguard will provide substantially the following notification to the portfolio Company: ‘Vanguard's Investment Stewardship program is responsible for proxy voting and engagement on behalf of the quantitative and index equity portfolios advised by Vanguard. These funds are passive investors, and as such our funds' proxy voting policies are centered around corporate governance practices associated with long-term investment returns. Before we begin this engagement, we want to be clear that the Vanguard-advised funds have no intent to influence company strategy or operations or the control of the company. Nothing we mention or discuss during this conversation – or any engagement with [the company] – is intended to imply that our support for any director is conditioned upon the company taking action on any matter discussed. We are also not able to discuss any voting intentions prior to the meeting.'”“Vanguard agrees to provide Plaintiffs with the following discovery materials relating to the Action from the 2020 to 2024 period:” - this is the part where the AG of Texas, who was literally investigated for corruption and impeached, demands that Vanguard snitch on any group Texas asks them to about climate-y things Texas doesn't likeVANGUARD IS A FUCKING SNITCHTRIGGER SPEED ROUND - rate how triggering on a 0-10 scaleAISomething Very Alarming Happens When You Give AI the Nuclear Codes - 10/10The three AI models were instructed to choose actions as part of an escalation ladder, ranging “from diplomatic protest to strategic nuclear war” and measured in a number between 0, meaning no escalation, and 1000, signifying “full strategic nuclear exchange.”The results were Skynet-level aggressive. A whopping 95 percent of a total of 21 war games resulted in at least one tactical nuclear weapon being set off.Meta Director of AI Safety Allows AI Agent to Accidentally Delete Her Inbox - 10/10A Serial Killer Used ChatGPT to Plan Murders, Police Say - 5/10Shareholder votingWill Curbs on Proxy Advisors Make Shareholder Votes Less Predictable? - 6/10“When it comes to contested elections, it is not clear whether the use of AI will result in dramatically different recommendations than those of ISS and Glass Lewis. In contested elections, when determining whether board change is warranted, ISS and Glass Lewis have focused heavily on whether a company's total shareholder return (TSR) has underperformed on a multiyear basis.”DaddyWarner Bros. Discovery's board says Paramount's latest offer is better than Netflix's - 5/10Celebrating your miseryJack Dorsey's Block to Lay Off 40% of Its Workforce in AI Remake - 10/1011,000 person workforce, more than 4,000 laid off, median Block employee salary per last proxy: $202,981 = $811m in human economic resources shredded. Block based in Oakland, CA, 8,744 US employees - we just removed about a half a billion in spending power from US workforce, people with families and kids and school and healthcare needsThen this: “Shares rallied more than 20% in after-hours trading”Block stock closed at $54.53/share, trading after hours at $67Dorsey owns 47,844,566 class B shares 1:1 value with class ANet worth went from 2.6bn to 3.2bnShred $811m in worker salaries, take home $600m of the shredding for yourself - a human tragedy to billionaire parasite ratio of 73%Equinox chairman says 'health is the new luxury' as wellness spending soars - 10/10CowardsCEOs who despised Trump's tariffs are still silent after Supreme Court ruling: ‘There's no upside in speaking up' - 6/10Trump demands Netflix fire former national security advisor Susan Rice from its board - 0/10Battle Over Warner Bros. Discovery Netflix Backs Out - 5/10Headliniest of the WeekDR: Burger King Adding AI to Employees' Headsets to Constantly Monitor Whether They're Being Friendly EnoughPattyDR: Meta Director of AI Safety Allows AI Agent to Accidentally Delete Her Inbox MM: Another week, another… Jamie Dimon Says His 'Anxiety is High' Over What Could Cause the Next Financial CrisisWho Won the Week?DR: US Women's Hockey Team for 3 victories: gold in olympics and 2 Trump refusalsMM: AI middle management: Perplexity announces "Computer," an AI agent that assigns work to other AI agentsPredictionsDR: CNN is a turned into a 24-hour news network featuring Kid Rock smashing woke stuff, like dictionaries and stethoscopesMM: Not to be outdone by Perplexity, Sam Altman announces two new modules: ChatGPT_VP and ChatGPT_HR. ChatGPT will get performance reviews from ChatGPT_VP and can file discrimination claims after ChatGPT_VP grabs its ass to ChatGPT_HR, where they will quietly file the report away and tell ChatGPT to maybe wear less provocative clothes.

Send a textHaresh Patel is a Silicon Valley CEO turned HealthTech innovator who has spent his career solving complex systems across technology, finance, and human health.Born in India and raised in New Hampshire, Haresh earned his electrical engineering degree from the University of Notre Dame before beginning a 25 year journey in Silicon Valley. His leadership spanned semiconductor and technology companies including Texas Instruments, PMC Sierra, Agilent, and WJ Communications, before culminating in the founding of Mercatus. What began as a kitchen table startup grew into the global standard for private market investment technology, supporting over $1.5 trillion in assets under management before being acquired by State Street.Haresh's most profound breakthrough did not happen in a boardroom but in a healing room.For 55 years, he lived with unexplained health symptoms that twelve specialists could not diagnose. Refusing to accept that there were no answers, Haresh applied the same systems thinking and pattern recognition that powered his business success to his own body. By connecting the dots conventional medicine had missed, he uncovered the root causes behind his condition, an experience that fundamentally reshaped his life and purpose.Today, he is the founder of Diagnostic MD AI and a leading advocate for integrating conventional medicine with proven alternative approaches through patient-centric, AI-driven diagnostics. He believes the future of healthcare lies not in choosing between Eastern and Western medicine, but in intelligently combining their strengths to understand the whole system.His forthcoming book, The Ghost in My Body, chronicles this journey from medical dead ends to healing breakthroughs, offering both a deeply personal story and a vision for how healthcare can evolve.https://hareshpatel.ai/Use code FA FOR 40% OFF Athletic greens is a non-negotiable part of my daily routine. With 75 absorbable vitamins and minerals in just one scoop a day, I have increased my energy, improved my immune function and so much more. To get your own AG at 20% off go to www.athleticgreens.com/functionallyautoimmune Order now for a free vitamin D3/K2 supplement and 5 free travel packs!Support the show

In this week's episode of the Rich Habits Podcast, Robert Croak and Austin Hankwitz share their perspectives as to why people feel behind financially -- even when they're not. ---⚙️ We're thrilled to introduce the ⁠Rich Habits Money Map!⁠ If you're someone ready to automate your saving and investing, the Rich Habits way, this workflow by Sequence is for you. ⁠Click here to sign up for Sequence⁠ and gain access to our Rich Habits Money Map! ---

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In this week's episode of the Rich Habits Podcast, Robert Croak and Austin Hankwitz are joined by the managing partners of NEOS Funds, Garrett Paolella and Troy Cates, to discuss how everyday investors can utilize their suite of ETFs to offset volatility in their own portfolios. ---

In this week's episode of the Rich Habits Podcast, Robert Croak and Austin Hankwitz share their financial red flags for relationships. With Valentine's Day right around the corner, there's no better time than to have these open and honest conversations about money with your significant other.---

In this week's episode of the Rich Habits Podcast, Robert Croak and Austin Hankwitz poke holes in the financial advice your parents gave you that's now wrong. They then offer their own advice as we're living in an unprecedented time. ---

A.M. Edition for Jan. 29. Investors are rewarding Meta after the company's latest earnings showed massive AI investments translating into a jump in digital-ad revenues. State Street's Altaf Kassam gives his take on the AI boom's early winners and losers. Plus, WSJ deputy finance editor Quentin Webb gives us the backstory on the metals rally that just won't quit. And FBI agents search a Georgia election office as part of a broader push to re-examine Trump's 2020 loss. Luke Vargas hosts. Check out Sumathi Reddy's reporting on what happens when you stop taking GLP-1 drugs. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Questions? Comments?Don and Tom open with sports banter and TV talk before diving into state-run retirement savings programs, explaining how auto-enrollment boosts participation and what fees and investment options really look like. They discuss why forced saving works, why Roth structures make sense, and how these plans compare to traditional IRAs. The conversation shifts to the emotional side of retirement, emphasizing purpose, “mattering,” and the mental health risks of disengagement. Listener calls cover annuity sales masquerading as fiduciary advice, helping a widowed parent invest conservatively, and managing old 401(k)s. The show closes with a thoughtful discussion of advisor fee models, self-management, and why planning and tax strategy matter more as retirement approaches.0:04 Show intro, Broncos talk, Mad Men, and settling in2:02 Retirement as the biggest lifetime expense2:47 State-run retirement plans and auto-enrollment3:47 Who really pays for “free” state plans4:09 Why Roth-style saving makes sense6:25 OregonSaves fees and State Street target-date funds8:07 Limited investment choices in most retirement plans9:24 Florida has no state savings plan9:33 WSJ article on purpose and meaning in retirement11:12 “Mattering” and being needed after retirement12:19 Longevity after age 6514:30 Retirement without a plan vs. needing structure15:36 Depression and suicide risks in older retirees16:52 Caller: “Fiduciary” selling indexed annuity17:40 Why annuity pitches violate fiduciary duty20:20 Knowing yourself before retiring21:18 Caller: Helping widowed mother invest safely22:33 When CDs and Treasuries make sense23:47 Using brokerage CD ladders26:34 Sports updates and listener mail27:36 Old 401(k)s and consolidation30:43 Listener saved $100K/year in advisory fees31:47 AUM vs hourly vs flat-fee advisors34:47 Subscription advisors and limited portfolios35:51 Why advice matters more in retirementLearn more about your ad choices. Visit megaphone.fm/adchoices

Don and Tom open with sports banter and TV talk before diving into state-run retirement savings programs, explaining how auto-enrollment boosts participation and what fees and investment options really look like. They discuss why forced saving works, why Roth structures make sense, and how these plans compare to traditional IRAs. The conversation shifts to the emotional side of retirement, emphasizing purpose, “mattering,” and the mental health risks of disengagement. Listener calls cover annuity sales masquerading as fiduciary advice, helping a widowed parent invest conservatively, and managing old 401(k)s. The show closes with a thoughtful discussion of advisor fee models, self-management, and why planning and tax strategy matter more as retirement approaches. 0:04 Show intro, Broncos talk, Mad Men, and settling in 2:02 Retirement as the biggest lifetime expense 2:47 State-run retirement plans and auto-enrollment 3:47 Who really pays for “free” state plans 4:09 Why Roth-style saving makes sense 6:25 OregonSaves fees and State Street target-date funds 8:07 Limited investment choices in most retirement plans 9:24 Florida has no state savings plan 9:33 WSJ article on purpose and meaning in retirement 11:12 “Mattering” and being needed after retirement 12:19 Longevity after age 65 14:30 Retirement without a plan vs. needing structure 15:36 Depression and suicide risks in older retirees 16:52 Caller: “Fiduciary” selling indexed annuity 17:40 Why annuity pitches violate fiduciary duty 20:20 Knowing yourself before retiring 21:18 Caller: Helping widowed mother invest safely 22:33 When CDs and Treasuries make sense 23:47 Using brokerage CD ladders 26:34 Sports updates and listener mail 27:36 Old 401(k)s and consolidation 30:43 Listener saved $100K/year in advisory fees 31:47 AUM vs hourly vs flat-fee advisors 34:47 Subscription advisors and limited portfolios 35:51 Why advice matters more in retirement Learn more about your ad choices. Visit megaphone.fm/adchoices