Podcasts about Wall Street

Did you know: Today's dentists are waiting five years longer to buy a practice than they were a generation ago? Kiera is joined by Brian Hanks of Dental Buyer Advocates to talk about delayed ownership traps and why the future of private practice is an encouraging one (Brian shares numerous data points to back that up). They also touch on overcoming fears and all the information out there that makes everyone seem more prepared for business ownership than they actually are, and how to go about buying a practice while asking the right questions. Episode resources: Subscribe to The Dental A-Team podcast Schedule a Practice Assessment Leave us a review Transcript: Kiera (00:00) Hello, Dental A Team Listeners, this is Kiera, and today is an awesome day. I am so excited to be podcasting with one of my favorite humans. He and I have spoken across the country together. We go to different things, we share clients together. I have Brian Hanks, the owner of Dental Dental Buyer Advocates. And today we're gonna talk about like delayed ownership trap because I think so many people get stuck into this of should I buy, should I not buy? And Brian and I are just here to have a fun rift. So, Brian, welcome to the show today. How are you?   Brian Hanks (00:28) So nice to be back, Kiera. You're one of my favorite people too. Thank you for having me.   Kiera (00:32) Of course. I'm excited, Brian. It's a good time. It's been a hot minute since we podcasted together. So it's time, it's time to talk about this. Because when we were chatting about episodes, you were saying that dentists are now waiting like five years longer to buy a practice than they were a generation ago, which is fascinating to me because I've been on this like whole hot to trap of like, do people buy? Are DSOs taking over? Like, is there still money to be made in private practice? Like literally my chiropractor and I were talking about this the other day because she's like,   My dentist told me that they were like not able to make any money. And I was like, well, they sh just give them my card. Like private practice to me is still one of the best businesses and industries, even if you have to buy a top dollar right now. and so just like super fascinating to talk about like delaying that purchasing, why people do it. But Brian, I've jumped right in and pretended like everybody knows who you are. Brian, give us a little intro of like who you are, how you got into Dental Buyer Advocates, what your background is, and then like let's talk about to delay or not delay buying a practice.   Brian Hanks (01:29) Sure.   Yeah, I one of my favorite stories. I'm an ex-Wall Street guy, so I'm a reformed Wall Streeter. And my father-in-law is a dentist. And I would watch these Wall Street people come in and like sell a very aggressive investments. And when they went bust, they would turn around and sell the crappy investments to dentists who at the time my was my father in law. Active practice, he lived in the Seattle area. And anyway, I went to go work for a dental CPA in the Dallas area. I went to work for another one. So I'm I've lived in the accounting world, Kiera.   And when I was in that world, I got younger dentists who were in the pro they were the associates and they were asking accounting questions and tax questions and you know financial planning questions. And inevitably they would come back to dental practice ownership. Like, how do I do this? How much do I pay? Is   Kiera (02:13) Yeah.   Brian Hanks (02:13) is this a good deal? And so I went looking for the book. I was like, well, where's the book? I was on Amazon, I was other places. There was no book. And I thought, all right, well, let me try writing this book. Famous Last Words, by the way, it's way harder than you assume. But the book is called.   Very creatively, How To Buy A Dental Practice. And that helped me start my own business. And that's   Kiera (02:30) I like it.   Brian Hanks (02:33) what I do. I I only help buyers of dental practices. And, you know, Kiera, my business is good, your business is good. Dentist business, we can talk about why the future of private practice is very bright. I can give you some stats and   Kiera (02:46) Mm-hmm.   Brian Hanks (02:46) statistics. But one of the interesting, the most interesting facts for me is Health Policy Institute has data that shows that.   Dentists get into ownership, like they they end up in ownership. Okay, so I'll give you like they've broken it down by like graduation rates. So like the the   Kiera (03:07) And what I   Brian Hanks (03:08) dental school grads from 1990 and then 1995, and everybody between 95 and 2000, so and so forth. So they have these like vintages of graduates. And   Kiera (03:16) Mm-hmm. Mm-hmm.   Brian Hanks (03:17) very reliably, they're showing that nine out of ten dentists, of which you know there's 203,000 in the US, nine out of ten end up in ownership.   At some point in their career. But like you said,   Kiera (03:27) Fascinating.   Brian Hanks (03:28) they're waiting longer to do it. And I think that's what we're going to talk about.   Kiera (03:32) Yeah. Which like again, I think people are scared. So many students I worked at Midwestern and they're like, Kiera, should I buy? Should I go associate? And I was like, listen, you're just delaying the inevitable so like get in there and get it done. Now, I like always throw an asterisk on that. Like if you're not good at your hand skills, like yeah, go go associate for a hot minute. like if you aren't confident with your speed and with case acceptance and like presenting, that's gonna be but I'll tell you there is nothing more thrilling than throwing yourself into a business that you have to produce for.   You learn case acceptance really freaking fast. Like, ask me how I know. We surely did that. Like I took a student, we took our first practice from 500,000 to 2.4 million in nine months. Like she was a she was a power producer. Do I have an office right now that just bought a practice less than a year ago? We're already on track for two and a half million. Yes. Like there are a lot of success stories from that small town. It's not like they were just given the keys to the kingdom. Like they've had to work for it, they've had to build things. They don't have full schedules. But   I just, I don't know. I'm the same way and I I don't know. I'm I'm at a space of but do what makes you happy. Like, do not go   Brian Hanks (04:37) Yeah.   Kiera (04:38) own a practice and make less than being an associate. That's like a hard line for me too. I'm like, 'cause if you're gonna like not be a good business owner, keep associating. But I   Brian Hanks (04:43) No. Yeah.   Kiera (04:46) agree, I feel like the trajectory of dentists is always to purchase. Like they want their own stamp, they want their name on the building. I will also highly recommend don't put your name on the building. Like that's really fun and not scalable. Ask me again how I know that. Like   Cura's dental consulting was real fun till it wasn't. Like the things you the things you evolve on, but truly I I'm excited to hear why you think people are delaying, what that's costing them. Brian, I love that you always come with a bunch of stats and facts. And I love that you named your book, like How To Buy A Dental Practice. That's what people want to know. so it sometimes simple is no, that is the best.   Brian Hanks (05:13) I know. I just yeah. I'm not the best at marketing, right? So yeah, like we we call Kiera when we need   marketing advice. So okay.   Kiera (05:24) Mm-hmm.   Brian Hanks (05:24) So Kiera, here are some more stats for you.   Kiera (05:28) Okay, ready?   Brian Hanks (05:29) the average owner, dentist, makes $151,000 than the average more than the average associate. Okay, 151. Now that's   Kiera (05:37) I was like, hold on, 151   is bad. That's more than if you're being an associate. You're gonna make 151,000 more. Okay.   Brian Hanks (05:43) Yep. Yeah. And think about why   that is. Yep. That's obviously the you're taking on the risk. You're taking on the the pain and suffering of being an owner, right? So there's some compensation involved in   Kiera (05:51) Mm-hmm.   Brian Hanks (05:52) that. Those are two medians, right? And there is a bell curve around both of those numbers. So is it possible   Kiera (05:57) Course.   Brian Hanks (05:58) to make less as an associate? Yes. Yeah. Is it possible   to make a hell   Kiera (06:01) Mm-hmm. Uh-huh.   Brian Hanks (06:02) of a lot more than $151,000 more than an associate? Absolutely, yes, right. So there's there's room on both end of the ends of those those bell curves. but think about   So here's why I one of the data points why I think private practice ownership and dentistry is still it's bright and it's getting brighter. Is you think about the average associate you talk to, Kiera, the average associate I talk to when we're standing around a cocktail party or at mid mid the you know, wherever, some conference, Yankee, Midwestern.   Kiera (06:30) Mm-hmm.   Brian Hanks (06:31) And I will tell you the average associate that I talk to isn't saying, gosh, Brian, you know what? I love my boss. I love the DSO I'm working for.   I love my hours. I love the insurances we take, the assistant they force me to use, I love her, right? It's the future of private practice dentistry is bright because dentists are people. And people generally like   Kiera (06:52) Mm-hmm.   Brian Hanks (06:52) a little bit of control over their career if they can get it. And dentists absolutely can get it. So that's one of the data points that   Kiera (06:55) Yeah.   Brian Hanks (06:58) I love. Now, are dentists scared to get into ownership? And do higher on average student loan balances scare them marginally more than they did 10 years ago, 20 years ago? For sure.   Yep, absolutely. Here's the mistake   Kiera (07:11) Absolutely.   Brian Hanks (07:11) they make. So I'll give the associates listening or the students or whoever it is that's maybe telling you, Kiera, or telling me, or they're telling their, you know, the the person next to them on the treadmill at the gym while they're listening to this, like, sure, Brian, easy for you to say, but I don't feel ready. Right? I haven't taken all of Care's courses.   Kiera (07:30) Mm-hmm.   Brian Hanks (07:31) I haven't, I don't know how you know, I'm not the pro at treatment planning. My hands beat because you I I want to take this implant course first, right?   You come up, your brain comes up with all these excuses of why you don't feel ready. And I'm not gonna dismiss your feelings. I think your   Kiera (07:45) Mm-hmm.   Brian Hanks (07:46) feelings are valid. You should listen to them, but don't here here's another thing to consider in addition to your feelings. Is you know how there were like a hundred people in your dental school class, probably ish, right? And 10 of whom you would never let near your teeth. Like you watch them go through all four years of dental school and you're like,   Okay, of those 10 over there, like they're never getting, they're never giving me a shot. They're never in that nothing, right?   Kiera (08:10) Yep.   Brian Hanks (08:10) Because I guarantee you, nine out of ten of those dentists, they already own their practice. They're not bankrupt. They're making more money than you,   Kiera (08:16) Yeah.   Brian Hanks (08:17) and they are killing it. Meanwhile, you're scared to run a practice. And those, if   Kiera (08:22) Mm-hmm.   Brian Hanks (08:22) those jokers can figure it out, you can figure it out.   Kiera (08:26) Totally. Well, and I think also on there like, Brian, let's be real. Is anybody ready to be a business owner? Like I wasn't, I'm sure you weren't.   Brian Hanks (08:31) Nope. Nope.   Kiera (08:33) I think are people ready to be parents? The answer is no. Like nobody feels ready for that. Were you ready when you went into dental school? The answer's no. I think that there's this imposter syndrome that hits us all that we think, like, give me a little more time and I'm gonna get ready. Give me a little more time. And I will say that like the brass taxes, you jump into owning a business and you figure it out. Now, should you listen to some podcasts? Should you do some things? Like for sure.   But   like how many consultants and coaches are there that literally are gonna like grab your hand, walk you through, and make sure you don't make the mistakes? Like how many people like yourself are gonna walk you through buying the practice to where it's an actually great practice? I I think that I think there's more help today. Now, do I think there's a lot of noise and a lot of people that might be like posturing out there saying that they know what they're doing? Yes. So make sure you like vet them a little bit before you go and jump on a bandwagon of somebody, like someone who's been there, done that, done that successfully multiple times is who I'd bet on. But like   We are in such a day and age where there is so much information out there. You need to be a great clinician. We're gonna teach you how to be a great business owner. And as long as you're comfortable realizing that you've got to learn that side of it, that's to me, like if you're a good producer and you're a good human, like go for it. There's dentistry is so fun owning and practice because the sky is the limit. And ultimately there is no cap on what you're able to do, what you're able to produce, how you're able to do it.   And I think that there are very few careers out there, very few job opportunities that really are the sky's limit. Now, remember how I told you about that dentist who bought their own practice. They're now doing like two fifty this year, whatever they're he was making five hundred thousand as an associate. And so this   Brian Hanks (10:06) Yeah. Hi Bart.   Kiera (10:08) is one where like people be like, Well, gosh, like, you know, he went from five hundred thousand and now he's at a two point, I think he's gonna end around two to two point four this year. But like he had a great associateship. And so I think   There is still this just like uncanny, unnatural desire that you want to just own, you want to build. And I think dentistry is also if I look at like banks, they lend to dental practices, like almost guaranteed, like they have a they're pretty lucrative with like just shelling money out to your dental practice. And I'm like, if banks are willing to back, you've got to also see that your dental practice, like you have the greatest opportunity of not failing.   of any business venture you're going to do. Why is private equity coming in strong? Because they know dental practices are almost bulletproof of an investment to have. So when I look at all those reasons, I agree with you, Brian. People don't feel like they're ready, but I'm like, you're never gonna feel ready. But you have so many things stacking in your favor to help you be successful.   Brian Hanks (11:03) At the beginning of that, I   I don't I don't want people to miss that. If they missed the wisdom that Kiera just shared at the beginning of that, as she said, yeah, you use parenting. I think you use business ownership as some advice. Like I I just want to repeat what you said because it's so important. Dentistry is not like, I don't know, Kiera, scuba diving, right? If you go get scuba certified, you like practice in the pool. And then they like make you, you know, they learn, you know, you you learn taking the regulator out of your mouth and putting it back in and all that. And I imagine like dentists think   ownership, like there's gonna be some course I can take that's gonna prepare me for ownership kinda like scuba certification. That's like you gotta help me come up with   Kiera (11:38) Yeah.   Brian Hanks (11:39) a better example, but it's not it's not true. It's like parenting,   Kiera (11:42) I got you.   Brian Hanks (11:42) it's like marriage. It's like I don't know, business ownership, whatever it is. Like the the thing that prepares you for it is just doing it. Just just   try it out.   Kiera (11:50) Mm-hmm.   Brian Hanks (11:50) Yep.   Kiera (11:51) Well, and I think Brian, to that point, like the analogy is I think people think business ownership is a skill that can be learned in a one, two, three step versus like marriage, relationships, child, like being parents, business ownership. It's an evolution of soul and it's a it's a creating of who you are. It is not a skill. Like there are skill points to it, like learning to read a p PL, learning how what profitability is.   But business ownership in and of itself, I had a friend she's like, Kiera, you have to have kids. Like it will strip you down to your core and it will like show things to you that you've never had. And I said, Have you ever been a business owner? Cause I'll tell you that I'm pretty confident. I've got a lot of that stripping over here that's like breaking me down to my utter like most. But I think we think business ownership and running a practice, I'm not here to say that there's not like tactical pieces and we've broken it down. Like our team actually just went through this something. I'm like, there's really like   10 things that you need as systems that are really gonna make or break it. And you gotta know a couple of like core foundations and you got to know your numbers. Like beyond that, that's kind of your checklist. But to your point of like scuba diving or cooking or whatever, it's not this like checklist skill that you're going to have. And so I think, like you said, you're gonna look for this course. But I'm like, the course is life, the course is doing it, the course is going through it. And I think you've got to have the confidence of are you confident in you that no matter what comes your way, you're gonna be able to figure it out. And if so, business ownership is there for you.   And I would give more confidence to you than you give yourself. I've watched a lot of students. I worked at Midwestern. To your point of those 10 students, there was probably like 50 of them. Sorry, Midwestern grads, I was not letting any of you touch my mouth. Like genuinely, you needed a few years to practice and I'm not your practicey. But like I think I think you're more equipped than you give yourself credit for. Just like you're more equipped for life than you give yourself credit for. And I think business ownership is the same.   Brian Hanks (13:31) So Kiera, let's break down some of those numbers. by the way, better   analogy for business ownership is like health. Do you remember the first time by the way? if you're listening to this, it's pretty obvious if you're watching, but if you're listening, Kiera's in a lot better shape than me. But if if Kiera, I don't know if you had this moment. I I did when I was like 21, 22, that I realized at the I was at the gym, I was like lifting some weights, and I realized, I'll never be done with this. Like you're never done with health. So I think business ownership is a lot like.   Kiera (13:59) I do remember my moment   of that. Mine was   Brian Hanks (14:01) Yeah.   Kiera (14:03) not at the gym, Brian. Mine was actually in Bali, like a little flex there. I remember because   Brian Hanks (14:07) There you go.   Kiera (14:07) I was like having a lot of like knee and hip pain. And I was like, okay, I just have to like work out and then eventually this is gonna get better. And I remember I was walking down to the pool overlooking the ocean. I was like, I'm never gonna be done. Like this is my forever. Like I'm not like I used to just work out to be like skinny and fit. And now I'm like, no, you gotta do this so you don't freaking hurt and you can actually walk and get out of bed. Like it's never gonna end. And   I   sat there and read a book, quite depressed. And then I was like, okay, like this is what it you're right. It's it's a constant evolution of soul. You're never done parenting, you're never done in a relationship. Like you don't hit this, like, check the box, we've got a golden thing. It is a forever perpetual. But I also think that that's what drives dentists to go into that because they are of this obsession of wanting to be the best of the best. You want to get a better prep. You want to get a better crown crop. You go to CE, you're CE junkies out there. Like, this is just another level of obsession.   Of a space that's going to evolve you as a human and it's gonna allow you to grow. So yeah, thanks. That was that was a great that was a great analogy, Brian. Good good call on that one.   Brian Hanks (15:02) Yeah. Yeah, the the   the negative of the health analogy is that you're never done, but the positive is you can break it down. Like you can learn how to do certain lifts a little better. You can learn how to macro track. You can learn diet and exercise.   Kiera (15:14) So you're right, Brian. Like that was a solid call out on the health analogy. Like this is what people are obsessed about, but they want to have that evolution of soul. They want to like I think that that's why dentists are drawn to ownership, but I think they're just afraid. But I'm like, we're also afraid to work out. We're afraid to have kids. We're afraid like, so don't let fear hold you back. I think it's just a like, I don't know. It doesn't be like Nike, just do it, guys. Like that sounds like terrible business advice on my side.   Brian Hanks (15:37) Well just do it and but remember   remember how good you weren't at at all the clinical stuff that you're really   Kiera (15:44) Mm-hmm.   Brian Hanks (15:44) good at now, right? So dentists, the the superpower that most dentists have is that attention to detail, like the obsession over the details and and the the minutiae. And and as a patient, like I gotta go to filling next week, and as a patient, I want my sister thinking about all of the all of the little details, right? and   Kiera (16:04) Mm-hmm.   Brian Hanks (16:04) that superpower is real.   And I want the density like lean into it. If you're listening to this and that evolution of soul that that Kiera's talking about, part of that evolution for you is just remembering that that superpower that you have comes like there's another side to that coin. It comes with a downside. And the downside is the overthinking when you're not.   You know you're not that good at a thing. And if you know you're not that good at finding a dental practice to buy, analyzing a dental practice to buy, actually buying that practice, applying for a loan, like talking to lawyers, all those things, your brain is gonna start to spin a little bit. And j but but but here's the good news: your brain spun a thousand times already. Remember that first time they opened up the little mannequin to like practice, like prepping a crown or something, and you were like, How do I even do this? Right.   Kiera (16:49) Dexter, their little type   it on.   Brian Hanks (16:51) Yeah, like seriously, like you figure this out. You like and if the dentists that I deal with they're the smartest people on the planet, they're awesome. And and so if you can figure that stuff out,   Kiera (17:02) Mm-hmm.   Brian Hanks (17:02) my gosh, like first of all, hire somebody else like you to just be amazing for you in all the areas that you aren't amazing, and just remember that it doesn't this isn't rocket science. yeah, so you can figure this stuff out.   Kiera (17:14) Mm-hmm.   Brian Hanks (17:14) But okay, so speaking of minutia, speaking of details, I gave you the hundred and fifty one thousand dollar number.   Okay, here I did some math. I'm an accountant. I I know I know spreadsheets.   Kiera (17:22) Yeah.   Brian Hanks (17:24) I know how to do like compound interest and some those things. Here's what I did is I just is I said, what's the cost? Okay, if dentists aren't feeling ready, they want to feel like they have their student loans under control, which is smart, right? I'm a financial planner. Yeah, don't get yourself over your skis in debt. That's great. But like, how much is it gonna cost if you're the statistic?   Right. And the statistic is you're you, listener, right now, if you're not a practice owner, are waiting five years longer to own a practice. How much does that five years cost you? Right. And if you do the math, and I did the math at like a 38-year-old dentist versus a 33-year-old dentist. And I assumed that they actually retired at age, both retired at age 60. Okay. So like different lengths of associate part of your career and owner part of your career.   with compound interest, assuming 7% and some of those other variables that I put in there, it was a $1.14 million difference between those two numbers. So don't forget that while you're busy like taking care of your student loans so you can feel ready to buy a practice, it's costing you an enormous amount of money. And Kiera, I would just add, and I'm curious if you can think of any others, I would say the compound.   the compound effect that I'm talking about is not just money, although money is a big part of it. I think the compound effect applies to other things. Like how many more times and at bats would you have for treatment planning, for managing that difficult assistant, teaching someone how to answer the phones better, hiring, firing. Like there's a compound effect on all of those behavioral things too and and it's gonna cost you some money. So any thoughts on that?   Kiera (19:04) Mm-hmm.   Yeah, I think it's a I I was fascinated. I'm so glad that you went into the 1.1 because we had talked about that pre-show and I was just very fascinated of like, my gosh, like that's so much for people. That's so many things. Like there's a financial dollar amount, which I love because I think dentists really do. Like that's an easy one for me to be like, gosh, like me delaying this decision can cost me that much. But I think like there's also you still have to go through the   growth of learning to run a business. So not only is there a financial delay, but there's also the growth of you getting good at running a business and having it profitable and being able to make this thing run longer. And then you have more opportunities like I think about yourself. And the longer you're able to build this practice and like maybe do multiple like there's to me that's like such a it's fascinating. And I think I think the the call to today is there are some people that definitely are meant to be owners and there's some that aren't.   but I think if you have that itch, that scratch, I would really ask yourself, like, what truly are you waiting for? And when are you going to know that you're actually ready? Like you're never going to feel ready to have a child. You're like, I need to get these ducks in a row. Well, those ducks get in a row and then you got seven more ducks that come behind that you're like, I need get those in a row. So to me it'd be if I'm really wanting to buy a practice, what things do I need to have? Cl schedule a call with Brian. Like, I think Brian, this is why we put you on the podcast. I think you're fantastic. You don't put people into weird zones. you're very much like   If that dentist is producing and you don't do those skills and you don't do those type of procedures, don't buy that practice. Like you're not, you're gonna be broke. You're very, very pro making sure people feel confident and that they're able to buy it. And I think it's like buying a home. I remember when I first like went and talked to somebody about buying a home, I had no freaking clue and I wish I would have known more. But like until you start having the conversations, I think it can feel more daunting than it actually is. Then from there, like listen to the podcast, start listening to there's our podcast, there's other podcasts out there, start reading up on how to buy a practice.   But I think to me, there is like two parts to it. One is finding the right practice. Like what you buy, and I say like eyes wide open when you're looking in, and then rosy glasses as soon as you sign on that dotted line, and you're gonna see a lot and you're just gonna deal with it. From there, make sure you got somebody really solid in your corner. Like our practices, as soon as they buy, we take them on. I try to get them two to three months before they close. I wanna make sure we're getting things in. If you don't close on time or things happen, no problem. We're gonna pause you, get your practice in place. Like it's happened twice in hundreds of offices we've helped.   But then, like from there, just have somebody in your corner, somebody who's gonna help you grow in your first year. Most practices are seeing like a 10 to 30% increase in their first year. So if I'm buying a one million dollar practice, that's a hundred to three hundred thousand dollar uptick just by having somebody in the corner. That's very conservative. A million dollar practice, like we are usually growing those exponentially. But like you don't have to stress and freak out. Hey, I'm pinned.   Brian Hanks (21:45) Yep. By the way, I I d pin put a pin, put a pin, Kiera. You you gotta you gotta underline that. Yeah.   That's like underline that, underline it. Like keep going, keep going. I I'm throwing you off. I'm interrupting you, but like I will tell you the   Kiera (21:59) Yeah.   Brian Hanks (21:59) average buyer I talk to on the phone is so scared of patient attrition. They're like, Kiera, like   I'm gonna have 10%, 20%. What if 50% of the patients don't show up? Listen, that's a real fear. By the way, I want you to have that   Kiera (22:10) Right. Mm-hmm.   Brian Hanks (22:12) fear when you're like doing the margin on my crown, right? Like again, it's your superpower dentist,   Kiera (22:16) Mm-hmm.   Brian Hanks (22:17) but like my stats show exactly the same thing, Kiera is saying I have data to support what Kiera is saying that the average   Kiera (22:22) Mm-hmm.   Brian Hanks (22:24) dentist doesn't they have a negative attrition, which is just two negatives, right? So it's a positive. They the average buyer has more enthusiasm, they've got some more energy, they're gonna update the website, they're gonna maybe get rid of.   That one employee that everybody kind of knew probably s needed to go. And suddenly the practice is just gonna it's gonna take off. Ten to thirty percent. That's yeah, right in line with what I'm seeing. That's awesome. So sorry, I I'm interrupting you, keep going.   Kiera (22:47) Mm-hmm. And I think, no, y you are always this is a conversation. It's not like a dictation. So we're like this is real life rift here. I just think people like when you look at it, I think you're more capable than you think you are. I know that you can get the skills, you can figure it out. Like you said, I'm always like, okay, play the what ifs, lose 50% of your patients. Great. Well, we're gonna take those 50%. And there's ways you can actually grow a practice without even needing to have more new patients.   So   we're gonna maximize all those, we're gonna optimize them. You're going to pull in more people. Like it is one of those things that I'm like, I have yet to have a practice go bankrupt. So knock on wood, like you can be my first challenge accepted. Like I feel very confident that I'm not like, unless you completely botch it and you go into malpractice, like we're probably gonna be just fine. So odds of it happening, so minimal. Are you gonna be a little stressed out? Yeah. Like, welcome to business ownership, but you're also looking for growth, and that's why you're being called to this moment. Like   It will not go away. That itch will not go away until you scratch it. And scratching it, and I love that you said like they're waiting five years and that's a $1.1 million minimum. There's so many other pieces to it. So I think I think a lot of dentists like to have facts. I think a lot of dentists like to have that decision make logical sense. And then we back it up with emotional reasons. And I think it's a wise way to make decisions. But I I would just say if you're even remotely curious, like start going down the path. I know when I was going to buy a house.   I needed to go find out, like, I don't know about lenders, I didn't know about interest rates. I did and until you get into it, just like you wanted to be a dentist, but until you got into it and you started working on that type it on and you learned about dropping the box and like waxing it up and working on Dexter and then taking x-rays, like you didn't know it. And I think most of the time the fear comes from the lack of knowing. I will also say, and I've seen this a lot, Brian, a lot of dentists feel like because I'm a doctor and I'm a dentist, if I buy a practice, I should know how to run a practice. And   Brian Hanks (24:38) And   Kiera (24:38) I just want to like   Scratch that out. I want to tell you that that's not true. But I know a lot of you come in feeling like but Kiera, I'm a dentist, or Brad, I'm a dentist, like I'm a doctor, like people expect me to know this. And I want to say you think people expect you to know that, but the reality is you don't. You just need to be scrappy enough to figure it out. No one's expecting you to know anything. Honestly, you probably know way more than you think you do already. But I I want to just cut that because I know a lot of you have perfectionism like fear of being exposed that you're not that great.   Except that you don't know how to run a business just like you didn't know how to prep a crown, but you learned that and you're gonna learn how to do a business and you're gonna do it exponentially well because you are so detail oriented and you're gonna hire a great team around you, hire great coaches around you that you're literally like it's impossible for you to fail. And so I think Brian, like kudos on it, kudos on the stats, any other thoughts that you have around people and like how do they get to the nitty-gritty of actually going through   Brian Hanks (25:26) Let's get some yeah. I'll hit I'll hit you with more stats. Yeah.   Kiera (25:31) that.   Brian Hanks (25:32) Some more facts for dentists. You and you mentioned the failure rate. What is the actual failure rate in dentistry? It's it's 0.14% of dentists go bankrupt. Okay. And it's always, always, always one   Kiera (25:43) Incredible.   Brian Hanks (25:43) of three things. It's drugs, divorce, and then jail. You know, some kind of felony that doesn't have anything to do with practice. so you stay away from those   Kiera (25:51) Yep.   Brian Hanks (25:52) three things and you're guaranteed not to go bankrupt.   And it so what do dentists actually need to buy practice? We've done a good job of pumping people up, given the rah-rah speech. What do you actually need? You need five things, okay? and I almost guarantee you, unless you're in dental school right now, listening to this, you have the five right now. All right. almost guaranteed. and I'll go from hardest to easiest, Kiera. Okay. Hardest for people to get is you need 50k   Kiera (26:18) Okay.   Brian Hanks (26:19) cash. You need some cash. 50k is your magic number.   Has to be liquid. It's gotta be in a checking   Kiera (26:24) Mm-hmm.   Brian Hanks (26:24) savings money market account. Can't be in an IRA or home equity or something like that. but you need that money to show the bank that you're responsible. And by the way, you don't actually hand that money over to the bank. You keep it. Yeah, the bank just wants to see that you have some money to see that you're responsible.   Kiera (26:39) Mm.   Brian Hanks (26:40) And if you know COVID shuts us down again, can you still pay the bank the bank back a few months? All right. So most people have that.   Kiera (26:46) Mm-hmm, mm-hmm.   Brian Hanks (26:47) They've got fifty K or access to fifty K. That's like a side thing we could talk about.   Kiera (26:51) Totally.   Brian Hanks (26:52) Yep.   Kiera (26:52) Mm-hmm.   Brian Hanks (26:53) you need production history. You got to be able to do about 80% of the production of what a seller could do. So million-dollar GP practice, let's say 250 of that Kiera is hygiene, means the doctor was doing 750k a year in production. that means you as an associate need to do about 600   a year   Kiera (27:12) Mm-hmm.   Brian Hanks (27:12) to buy a million-dollar practice. Okay. Most associates listening, you know, public health, military, there are some special exceptions where we need to learn how to count.   procedures and things   Kiera (27:22) Mm-hmm.   Brian Hanks (27:23) like that. But most associates, they can do 600 to buy a million dollar practice. Okay, the 80%. most dentists don't have any problem with numbers threes and four, number three and four. Number three is you got to have a credit score over 680. It's pretty low. And it's a green light, red light. 681 credit score gets you the same interest rate as an 820. And and then you need a clean credit history is number four. And so no bankruptcies, no short sales, or a really good story.   Behind a bankruptcy or short sale. And then you need one year of experience out of dental school or a residency program. GPR, AEGD, specialty program, whatever it is. If you're in a residency program, you could buy a practice the day you get out of your residency. So that's it. And so technically, Kiera, you need number six. Number six is you need a practice to buy. And I'll be I'll be really blunt with people, that's the   Kiera (28:17) Mm-hmm.   Brian Hanks (28:17) hardest step.   Finding a good practice to buy is the hardest thing because everybody   Kiera (28:21) I agree.   Brian Hanks (28:22) wants to look for the practice in their pajamas. They think it's like buying a house. Like I'm gonna go on the MLS and I'm gonna look   Kiera (28:28) Mm-hmm.   Brian Hanks (28:28) for a dental practice. There is no such thing as the DLS, there's no dental listing service. And so if you're in your pajamas looking for a practice to buy, it's   Kiera (28:34) Mm-hmm.   Brian Hanks (28:36) not there. Sometimes it is, which is why people do it, but it's almost certainly not there, especially in the city you want to live right now. and so we'll have a podcast episode about how to   Find a practice well. But the sh here's the short version is you go talk to dentists. Build a network of dentists that know like and trust you. That's the   Six things and and most associates have And so attitude, like don't let us stop you, don't be scared. Like we did the like pump you up version of the speech. And here's the facts to back that up, is it's not actually that hard. Like with those six things, banks will not only give you a hundred percent of the purchase price, they'll give you a hundred percent of the purchase price, and then they'll hand you another seventy-five K in cash just to make sure you don't run out of money on the first day. Sometimes it's a hundred K. I've seen d banks give two hundred thousand dollars in cash.   Kiera (29:21) Mm-hmm.   Brian Hanks (29:21) before they even walk through the doors with you know the key in hand as an owner. So it's awesome. If if you're thinking about ownership and nine out of ten dentists are at some point in their career, it's it's really not it's not it's simple. It's not necessarily easy, but it's simple.   Kiera (29:41) Yeah. And Brian, even on the I've been talking to the Bank of America guys, and they were like, we even give like thirty to forty thousand to a new startup practice for consulting fees in addition to our working capital because   Brian Hanks (29:52) Yeah.   Kiera (29:53) we know that it's also going to help grow them. So there's so many pieces, and I think you've just listed off like really, I agree, like finding the practice and like sending out the postcards, getting to know the network, finding the dentist, like the practice that actually works for you, finding a seller that wants to sell for the price that you want.   I agree with you 100%. That is the hardest part. But I think Brian, you did an incredible job of breaking this down from the like, okay, you're probably gonna do it. Nine out of ten is do buy that. What are the exact steps that I need to take for this? And then I agree with you. Like, absolutely a follow-up podcast on like how to actually find a practice. But Brian, I'm curious if people are interested, like they want to start connecting and like this is what you do. And I know you guys are really generous with your time. How do people connect in with you to like even start the process? Like, again, I feel like curiosity.   Is the best place to be. Like let's just ask the questions. Let's figure it out. So Brian, how do people get connected in with you?   Brian Hanks (30:41) Pop over to Amazon, type in How To Buy A Dental Practice. That's the book. if you want, by the way, if you want a cheaper copy, you can go to the website. The website is DentalBuyerAdvocates.com. I'm happy to ship it to you like as a publisher copy, no strings attached. but yeah, just pop over to Amazon, DentalBuyerAdvocates.com. Care if people want to email me directly. I always offer this. And it's so fascinating to me how few people actually take me up on it. I would be more than happy to have a half an hour conversation with whoever you are, free of charge.   Send me an email, Brian@BrianHanks.com. It's B-R-I-A-N and Hanks like Tom Hanks. So yeah, that's how you get a hold of me.   Kiera (31:20) Amazing.   Well, Brian, thank you for breaking this down and for all of you listening. I hope that today was just a really insightful podcast for you. I hope it gave you the facts to back it up. I hope it gave you the emotional piece. I hope it gave you kind of the like step by step by step of how to get there. I'm so grateful for Brian being here. Everybody connect in with him. And for all of you listening, thank you for listening and I'll catch you next time on the Dental A Team Podcast.  

Apple's latest financial results drive a discussion about record iPhone, Mac, Services, subscription, and R&D numbers, along with the market's negative reaction and stock volatility. The MacVoices Live! panel also examines leadership changes under new CEO John Ternus, including the return of a retired engineering executive, before debating Apple's planned clipboard sharing between iPhones and Windows PCs, its implications for users, and whether it introduces meaningful security concerns.  Panel members include: Marty Jencius, David Ginsburg, Jim Rea, Chuck Joiner, Eric Bolden, Web Bixby, and Brian Flanigan-Arthurs. This edition of MacVoices is supported by MacVoices Magazine, our free magazine on Flipboard. Updated daily with the best articles on the web to help you do more with your Apple gear and adjacent tech, access MacVoices Magazine content on Flipboard, on the web, or in your favorite RSS reader. Show Notes: Chapters: 00:00 Introduction, Riverside updates, and panel introductions 04:20 Marty celebrates his 42nd wedding anniversary 07:30 Apple's quarterly earnings and Wall Street's reaction 15:10 Record iPhone, Mac, Services, subscriptions, and R&D spending 20:15 John Ternus' influence on the MacBook Neo 24:30 Apple brings a retired hardware executive back to the company 31:40 Organizational changes under Apple's new leadership 34:45 UK App Store steering rules and regulatory concerns 37:15 Apple brings clipboard sharing between iPhone and Windows PCs 43:15 Security, usability, and the future of cross-platform clipboard support Links: iPhone, Mac and Services revenue set new June quarter records https://appleworld.today/2026/07/iphone-mac-and-services-revenue-set-new-june-quarter-records/   Apple spent a record $11.73 billion in R&D during Q3 2026 – 9to5Mac https://9to5mac.com/2026/07/30/apple-spent-a-record-11-73-billion-in-rd-during-q3-2026/   Apple just hit 1.5 billion paid subscriptions from its user base – 9to5Mac https://9to5mac.com/2026/07/30/apple-just-hit-1-5-billion-paid-subscriptions-from-its-user-base/   Ternus's MacBook Neo pushes Mac sales to unexpected Q3 heights https://appleinsider.com/articles/26/07/30/ternuss-macbook-neo-pushes-mac-sales-to-unexpected-q3-heights?utm_source=rss   Team Ternus drags retired vice president of hardware engineering back into Apple https://appleinsider.com/articles/26/08/03/team-ternus-drags-retired-vice-president-of-hardware-engineering-back-into-apple?utm_source=rss   Apple Says UK App Store Steering Rules Would Be 'Highly Intrusive' https://www.macrumors.com/2026/07/29/app-store-uk-rules-highly-intrusive/   Apple is finally making copy-paste work between iPhones and PCs https://www.macworld.com/article/3205820/apple-is-finally-making-copy-paste-work-between-iphones-and-pcs.html Guests: Get detailed bios and contact information about for the panel on the MacVoices Live! Panel page on our web site: https://macvoices.com/macvoiceslive/macvoices-live-panel/ Support:      Become a MacVoices Patron on Patreon      http://patreon.com/macvoices      Enjoy this episode? Make a one-time donation with PayPal Connect:      Web:      http://macvoices.com      Twitter:      http://www.twitter.com/chuckjoiner      http://www.twitter.com/macvoices      Mastodon:      https://mastodon.cloud/@chuckjoiner      Facebook:      http://www.facebook.com/chuck.joiner      MacVoices Page on Facebook:      http://www.facebook.com/macvoices/      MacVoices Group on Facebook:      http://www.facebook.com/groups/macvoice      LinkedIn:      https://www.linkedin.com/in/chuckjoiner/      Instagram:      https://www.instagram.com/chuckjoiner/ Subscribe:      Audio in iTunes      Video in iTunes      Subscribe manually via iTunes or any podcatcher:      Audio: http://www.macvoices.com/rss/macvoicesrss      Video: http://www.macvoices.com/rss/macvoicesvideorss Apple's latest financial results drive a lively discussion about record iPhone, Mac, Services, subscription, and R&D numbers, along with the market's negative reaction and stock decline. The panel also examines leadership changes under new CEO John Ternus, including the return of a retired engineering executive, before debating Apple's planned clipboard sharing between iPhones and Windows PCs, its implications for users, and whether it introduces meaningful security concerns. SEO Keywords Apple, iPhone, Mac, earnings, subscriptions, R&D, JohnTernus, Windows, clipboard, security, AppStore, stock, engineering, Europe, revenue Possible Episode Titles 1. Apple's Strong Quarter Meets a Wall Street Reality Check 2. Record Revenue, New Leadership, and Apple's Windows Surprise 3. Why Apple's Stock Fell Despite Record Financial Results 4. John Ternus Reshapes Apple as Windows Integration Expands 5. Apple Earnings, Executive Changes, and the Windows Clipboard Debate Chapter Markers 00:00 Introduction, Riverside updates, and panel introductions 04:20 Marty celebrates his 42nd wedding anniversary 07:30 Apple's quarterly earnings and Wall Street's reaction 15:10 Record iPhone, Mac, Services, subscriptions, and R&D spending 20:15 John Ternus' influence on the MacBook Neo 24:30 Apple brings a retired hardware executive back to the company 31:40 Organizational changes under Apple's new leadership 34:45 UK App Store steering rules and regulatory concerns 37:15 Apple brings clipboard sharing between iPhone and Windows PCs 43:15 Security, usability, and the future of cross-platform clipboard support

No vídeo de hoje, analisamos o mega acordo liderado pela Nvidia para mobilizar US$ 500 bilhões junto a gigantes de Wall Street, como BlackRock e Goldman Sachs, visando financiar a infraestrutura de inteligência artificial. O CEO Jensen Huang quer transformar chips (GPUs) em uma nova classe de ativos, tratando data centers como "fábricas de IA" capazes de gerar receita recorrente. Mas será que essa engenharia financeira, que o próprio mercado compara com a securitização da bolha imobiliária de 2008, é sustentável? Entenda os riscos dessa mudança estrutural, o perigo da obsolescência rápida dos equipamentos e por que especialistas acendem um alerta sobre o futuro do setor.00:00 - Nvidia reúne Wall Street por US$ 500 bilhões01:50 - GPUs como nova classe de ativos financeiros03:48 - Transformando data centers em fábricas de IA05:12 - O gigantesco custo trilionário da infraestrutura07:46 - De quem é o risco real dessa operação?09:55 - O perigo da obsolescência rápida dos chips11:51 - O peso do dinheiro institucional no mercado15:16 - A ilusão da demanda infinita por computação18:23 - A engenharia financeira e o fantasma de 200820:24 - Empacotando dívidas em novos títulos financeiros22:01 - O perigo real dessa nova narrativa financeira

En Capital Intereconomía repasamos las claves del día y la evolución de los mercados en Asia, Wall Street y Europa para conocer cómo arrancan la jornada los principales índices internacionales y cuáles son las referencias que están condicionando el comportamiento de los inversores. En el primer análisis de la mañana ponemos el foco en la actualidad de los mercados, con especial atención a la evolución de las bolsas, la renta fija, las materias primas y las expectativas sobre los próximos movimientos de los bancos centrales. Analizamos también las principales referencias macroeconómicas y empresariales de la sesión y los factores que pueden marcar el rumbo de los mercados durante las próximas jornadas. Terminamos la hora con el repaso a las principales portadas de la prensa económica nacional e internacional para conocer las noticias que marcarán la actualidad financiera, empresarial y macroeconómica de la jornada.

En Capital Intereconomía, la Tertulia Capital pone sobre la mesa los principales asuntos de la actualidad económica, política y empresarial. Analizamos las noticias que están marcando la jornada, su impacto sobre la economía española e internacional y las consecuencias que pueden tener para empresas, ciudadanos e inversores. Por último, analizamos la preapertura de los mercados europeos para conocer cómo se preparan las principales bolsas del continente antes del inicio de la sesión. Repasamos la evolución de los futuros, las referencias procedentes de Asia y Wall Street y los principales factores macroeconómicos, empresariales y geopolíticos que pueden marcar el comportamiento de los inversores durante la jornada

Dan Nathan and Guy Adami dig into the biggest story in markets: Nvidia's roundtable with Wall Street's top financiers — Jensen Huang, David Solomon, Jon Gray, and Stephen Schwarzman — and the multi-hundred-billion-dollar backstop deal getting compared to a modern-day CDO. Dan lays out why he thinks this AI CapEx build could make the dot-com bust and the GFC look tame, walks through Nvidia's doubling credit default swaps, and answers a listener question on exactly what would signal the bubble has popped. Plus: the cautionary tale of The Trade Desk's collapse from $140 to $14, why valuations are only richer once before in history (the dot-com peak), and a preview of what to watch in Cisco's earnings after the close today. Show Notes A short history of valuing stocks (FT) Wall Street just endorsed Jensen Huang's ‘big concept' for AI. What now? (CNBC) —FOLLOW USYouTube: @RiskReversalMediaInstagram: @riskreversalmediaTwitter: @RiskReversalLinkedIn: RiskReversal Media The financial opinions expressed in Risk Reversal content are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on Risk Reversal. Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in Risk Reversal carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money that you can afford to lose. Derivatives are not suitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell or retain any specific investment or service.

Artificial intelligence may feel suddenly everywhere, but AI pioneer Vasant Dhar has had a front-row seat for more than four decades—teaching AI, building companies around it, and bringing machine learning to Wall Street long before ChatGPT entered the conversation. For the second week of Authors in August, David sits down with Dhar to ask not merely what machines can do, but how humans can think with them. When should we trust AI? When does it sharpen our thinking—and when does it make our brains lazy? If intelligence itself is becoming a commodity, where will tomorrow's value be created? And in a future where machines become extraordinarily capable, what are humans for?A conversation about AI, investing, trust, judgment, and our increasingly intelligent future. The Damodaran Bot is available for public use at: damodaranbot.com Vasant's monthly newsletter can be found at: vasantdhar.substack.com Host: David GardnerGuest: Vasant DharProducer: Bart Shannon Learn more about your ad choices. Visit megaphone.fm/adchoices

Florida gubernatorial candidate James Fishback joins The Connect to explain why he believes it's time for a political revolution at the state level—and why Florida must stand up to Washington, Wall Street, foreign influence, and the growing surveillance state. In this wide-ranging conversation, Fishback lays out his plan to eliminate Flock license-plate cameras, oppose Palantir-style mass surveillance, protect First and Fourth Amendment rights, and repeal Florida laws he believes restrict criticism of foreign governments. He also breaks down his opposition to the H-1B visa system, arguing that major corporations are replacing qualified American workers with cheaper foreign labor. Fishback explains how he would penalize companies that refuse to hire qualified Florida residents, prevent private-equity firms and foreign investors from buying up single-family homes, and stop taxpayer-subsidized AI data centers from spreading across the state. The discussion also covers Florida public schools, student accountability, crime and “teen takeovers,” restoring rights to former nonviolent offenders, gun rights, undeclared foreign wars, the National Guard, AIPAC influence, state sovereignty, and his legal battle to remain on the ballot. Can Florida become a model for a new American liberty movement—or is the political machine too powerful to defeat? Go Support James! Website: https://www.votemyflorida.org/ Join The Patreon For Bonus Content! https://www.patreon.com/theconnectshow 00:00 Introduction: The Fight for Freedom 00:42 Why I Support James Fishback 01:30 Fishback's America First Platform 02:44 A Call to Action for Floridians 03:01 The National Significance of Florida's Fight 04:41 A New Experiment in Liberty 06:50 The Easiest Problem: Banning Flock Cameras 08:20 The Fourth Amendment and Mass Surveillance 10:50 The Existential Battle for Privacy 12:10 Repealing Florida's Hate Speech Law 14:40 The Real Test of the First Amendment 15:56 Taking on the Opposition: Byron Donalds 17:00 The Education Crisis in Florida 20:00 Accountability in the Classroom 22:55 The H-1B Visa Scam 26:50 Protecting American Jobs 29:00 Resistance at the State Level 32:10 Banning Private Equity from Buying Homes 34:00 The Unfair Advantage of Private Equity 36:45 Foreign Buyers and the Housing Crisis 38:00 Capitalism vs. America 39:12 The Threat of Data Centers 42:40 The Data Center Invasion in Florida 44:30 Defending State Sovereignty 47:00 Consistency and Truth in Politics 48:00 Existential Issues vs. Cultural Differences 50:00 The Case Against Zero Crime 53:00 Addressing Teen Takeovers and Riots 57:40 The El Salvador Model: Tough on Crime 58:40 Restoring Rights for Former Felons 01:01:00 The Lawfare Battle and Victory 01:03:00 The Un-American Nature of Merging Militaries 01:04:40 The True America First Agenda 01:06:00 Byron Donalds: A Puppet of Foreign Interests 01:08:00 America Comes First 01:10:00 Christian Values and Governance 01:12:00 Teaching Kids What It Means to Be American 01:14:00 Mass Surveillance vs. Freedom 01:18:00 The Unanimous Opposition to Data Centers 01:20:00 The Momentum of the Fishback Campaign 01:22:00 Final Call to Action: Vote for James Fishback Learn more about your ad choices. Visit podcastchoices.com/adchoices

Nvidia's $500 billion deal with top Wall Street firms has sparked a debate about circular spending in the AI ecosystem. Ed Zitron is a critic of the investments pouring into the industry, and he shares his bearish take on AI. Brett Schulman, CEO of fast casual chain Cava, is keeping his eye on consumer confidence amid salmonella and cyclospora outbreaks in the U.S. Schulman discusses the impact foodborne illness has had on the restaurants, despite Cava's food supply chain being unimpacted by issues. Plus, former FDA Commissioner Dr. Scott Gottlieb discusses President Trump's Executive Order on childhood vaccines and the pressure it may create for state leadership.    Ed Zitron - 03:47 Brett Schulman - 14:03 Dr. Scott Gottlieb - 22:41    In this episode: Leslie Picker, @LesliePicker Michael Santoli, @michaelsantoli Brian Sullivan, @SullyCNBC Katie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Charles is joined by Founders ETF Partner and Portfolio Manager Mike Monahan to discuss why Mark Zuckerberg's heavy investments in Meta face short-term Wall Street pushback, how hyperscalers and AI infrastructure firms are navigating the current compute shortage, and why the rapid rise of web bot traffic is altering the broader investment landscape. Learn more about your ad choices. Visit podcastchoices.com/adchoices

In this episode, Travis Mercer shares his journey from Wall Street to real estate success, including flipping houses, building rental portfolios, and launching passive profits. Discover his strategies for scaling, finding unique opportunities, and leveraging AI to streamline operations.   Professional Real Estate Investors - How we can help you: Investor Fuel Mastermind:  Learn more about the Investor Fuel Mastermind, including 100% deal financing, massive discounts from vendors and sponsors you're already using, our world class community of over 150 members, and SO much more here: http://www.investorfuel.com/apply   Investor Machine Marketing Partnership:  Are you looking for consistent, high quality lead generation? Investor Machine is America's #1 lead generation service professional investors. Investor Machine provides true 'white glove' support to help you build the perfect marketing plan, then we'll execute it for you…talking and working together on an ongoing basis to help you hit YOUR goals! Learn more here: http://www.investormachine.com   Coaching with Mike Hambright:  Interested in 1 on 1 coaching with Mike Hambright? Mike coaches entrepreneurs looking to level up, build coaching or service based businesses (Mike runs multiple 7 and 8 figure a year businesses), building a coaching program and more. Learn more here: https://investorfuel.com/coachingwithmike   Attend a Vacation/Mastermind Retreat with Mike Hambright: Interested in joining a "mini-mastermind" with Mike and his private clients on an upcoming "Retreat", either at locations like Cabo San Lucas, Napa, Park City ski trip, Yellowstone, or even at Mike's East Texas "Big H Ranch"? Learn more here: http://www.investorfuel.com/retreat   Property Insurance: Join the largest and most investor friendly property insurance provider in 2 minutes. Free to join, and insure all your flips and rentals within minutes! There is NO easier insurance provider on the planet (turn insurance on or off in 1 minute without talking to anyone!), and there's no 15-30% agent mark up through this platform!  Register here: https://myinvestorinsurance.com/   New Real Estate Investors - How we can work together: Investor Fuel Club (Coaching and Deal Partner Community): Looking to kickstart your real estate investing career? Join our one of a kind Coaching Community, Investor Fuel Club, where you'll get trained by some of the best real estate investors in America, and partner with them on deals! You don't need $ for deals…we'll partner with you and hold your hand along the way! Learn More here: http://www.investorfuel.com/club   —--------------------

Wayne Penello, president and chief executive officer at NextGen EMP, says he expects the Standard & Poor's 500 to double in the next five years, in the "greatest bull market we have seen in 60 to 80 years," though he acknowledges that this kind of rise ultimately will end in a bubble. He thinks the market can rally, with only modest to moderate corrections, before it reaches that crescendo, and says investors should be watching for the point where artificial intelligence is over-saturating the market to where prices collapse to see when that is likely to happen. Penello, a Wall Street veteran whose firm recently opened the Efficient Market Portfolio Plus ETF — a long-short fund that tries to balance risks by leaning into or away from market sectors, says he is leaning into semiconductors, particularly when the market sorus on them, and is going light or away from consumer discretionary stocks and utilities. Olivia Valdes, senior researcher at the FINRA Investor Education Foundation, updates us on the group's study of financial frauds. FINRA recently released "Patterns in Fraud Awareness: What Comes to Mind When Americans Think About Financial Fraud," which asked people to name the common schemes and tactics fraudsters use, and found that even identity-based crimes — the thievery that most Americans are aware of and cautious about — was top of mind for only half of the population. Valdes says this helps to explain how even savvy consumers get taken in by schemes, as fraud losses in the U.S. now run at nearly $200 billion per year.  In the Money Life Market Call, Stefan Grater, portfolio manager overseeing the domestic and international value strategies at Eldred Rock Partners, discusses his disciplined, concentrated approach to value investing.

Nvidia wants to unlock hundreds of billions of dollars for AI infrastructure, but its new compute financing plan raises questions about how far Wall Street can financialize the AI boom.Chuck Zodda and Paul Lane break down Nvidia's memorandums of understanding with major financial firms, why the company is trying to attract more than $500 billion in third-party capital, and how compute-backed financing could turn AI chips and data center capacity into collateral for investors. They also discuss why high expected yields could signal real concerns about the value of that collateral, how quickly compute power can become obsolete, and why Nvidia's CUDA ecosystem may be central to the argument that its chips have staying power. Plus, they look at a deceptive labor market for college graduates and non-grads, why investors are still holding trillions in cash, the risks of prediction markets, Boston's potential office-to-housing conversion, and problems with ticket resale platforms.

The good news is that inflation cooled a bit in July but Americans continue to have trouble with the rising cost of used cars to healthcare.  That story is where we start this evening. This is the Business News Headlines for Wednesday the 12th day of August, thanks for listening.  In other news, Wall Street ended the day mixed.  The government wants to do away with collecting workplace demographics and the push-back. Yet another lawsuit brought against the President and what this is about. Google has introduced some new phones and we'll share what we know.  We'll check the numbers in The Wall Street Report and the amount of credit card debt owed by Americans rises once again. Thanks for listening! The award winning Insight on Business the News Hour with Michael Libbie is the only weekday business news podcast in the Midwest. The national, regional and some local business news along with long-form business interviews can be heard Monday - Friday. You can subscribe on  PlayerFM, Podbean, iTunes, Spotify, Stitcher or TuneIn Radio. And you can catch The Business News Hour Week in Review each Sunday Noon Central on News/Talk 1540 KXEL. The Business News Hour is a production of Insight Advertising, Marketing & Communications. You can follow us on Twitter @IoB_NewsHour...and on Threads @Insight_On_Business.

Original Youtube https://youtube.com/live/gqxtAHezkJE00:00 - Introducción y bienvenida al Live de Cierre (Miércoles 12 de agosto, 2026)01:30 - Sentimiento de mercado y rendimiento del S&P 50002:30 - Cifras de Inflación en EE.UU. (CPI subyacente y anual)04:50 - Expectativas de tasas de interés de la Reserva Federal (CME FedWatch)06:15 - Análisis de Índices de EE.UU.: Dow Jones, Nasdaq y Russell 200008:45 - Mercados Internacionales: DAX 40 (Máximos históricos), IBEX 35, China A50 y Nikkei 22512:45 - Previa de Earnings de Cisco Systems (CSCO)19:25 - Mercado Accionario: Caídas en MercadoLibre (MELI) y Meta24:25 - Análisis de Big Techs: Microsoft, Tesla, Amazon, Apple y Alphabet (Google)30:30 - Semiconductores y Tecnología: AMD, Nvidia, Intel, Micron y SanDisk34:50 - SpaceX: Análisis técnico y periodos de desbloqueo de acciones (Lock-up)38:10 - Reporte de Resultados Trimestrales en VIVO de Cisco Systems (CSCO)45:00 - Anuncio del curso "News Trader"48:00 - Previa del Calendario Económico: PIB del Reino Unido50:20 - Mercado Forex: Dólar Index, GBP/USD, EUR/USD y USD/JPY53:40 - Monedas Emergentes: USD/CLP, USD/COP y mínimos anuales en USD/MXN55:30 - Commodities: Tendencia en Oro, Plata y Petróleo WTI/Brent57:00 - Mercado Cripto: Comportamiento del Bitcoin58:00 - Q&A de la Comunidad: Comcast (CMCSA), Coeur Mining (CDE) y Rigetti Computing1:06:40 - Q&A: Nevius Group (NBIS), Oracle, Palantir y Aptera Motors1:09:50 - Recomendaciones finales y cierre de la transmisión

Original https://youtube.com/live/ksweIuplhNE⭐Super Micro Computer avanza +8% tras una optimista proyección. Nasdaq se recupera.

En Capital Intereconomía repasamos las claves del día y la evolución de los mercados en Asia, Wall Street y Europa en una jornada marcada por los resultados empresariales, la inflación estadounidense y la incertidumbre geopolítica en Oriente Medio. En Asia, el inicio de la huelga en Hyundai y los planes de Shein para dar el salto a bolsa centran la atención de los inversores. En Wall Street, los principales índices vuelven a registrar caídas, presionados por el repunte del petróleo y la debilidad del sector tecnológico. Mientras, el Ibex 35 mantiene su fortaleza y firma un nuevo máximo histórico tras conquistar los 20.200 puntos. En el primer análisis de la mañana conversamos con Gustavo Martínez, gestor patrimonial y experto en bolsa, para hacer balance de una temporada de resultados que sigue mostrando una enorme fortaleza de los beneficios empresariales y valorar si las actuales cotizaciones están justificadas. Ponemos especial atención en el dato de inflación de Estados Unidos, una auténtica prueba de fuego para las bolsas y para las expectativas sobre los próximos movimientos de la Reserva Federal. También analizamos si la inflación puede poner a prueba el fuerte rally del oro, que continúa actuando como activo refugio ante la incertidumbre geopolítica, y repasamos cuáles son los principales riesgos que pueden amenazar a los mercados durante lo que queda de año. Además, abordamos el punto muerto en las negociaciones entre Estados Unidos e Irán y sus consecuencias sobre el estrecho de Ormuz, el petróleo y el conjunto de los activos financieros. Terminamos la hora con el repaso a las principales portadas de la prensa económica nacional e internacional para conocer las noticias que marcarán la actualidad financiera, empresarial y macroeconómica de la jornada.

The Australian share market is poised to open lower on Thursday ahead of a busy day of company results, including Telstra, Transurban and Origin. Wall Street mostly rose overnight on tame US inflation data and strong AI-related earnings, while gold climbed to its highest level in more than two months. Plus, can you guess which has been the best performing commodity this year? Hint: it’s not oil. James Gruber, Equity Market Strategist at CommSec takes you through all the key numbers. Check out our Market News page Follow us on:InstagramLinkedInYouTubeTikTok The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.See omnystudio.com/listener for privacy information.

İstediğin o vurucu, filtresiz dili ve kampanya detaylarını bozmadan, metni Spotify algoritmasına uygun şekilde gereksiz kelimelerden arındırarak 3500 karakter sınırının altına (yaklaşık 3200 karakter) indirdim. Doğrudan kopyalayıp kullanabilirsin:M.Ö. 585'te Lidyalılar ve Medler kanlı bir savaşın ortasındayken gökyüzü karardı, gündüz geceye döndü. İki ordu kılıçlarını bırakıp diz çöktü ve barış ilan edildi. Thales'in kaydettiği bu ilk güneş tutulması, koca bir tarihi tek hamlede değiştirdi. Bugün 12 Ağustos Çarşamba. Sıradan bir gün değil; muazzam bir Güneş Tutulmasının altındayız. Gökyüzündeki şalterin indiği o kritik gündeyiz."Faruk, sen CRO ve nöropazarlama anlatan adamsın, astroloji ne alaka?" diyebilirsiniz. Bugüne kadar size e-ticaretin sadece Meta panelindeki yeşil butonlardan ibaret olduğu söylendi. Excel'deki yaş verilerine taptınız. Oysa asıl veri, insanın evrensel döngülerle olan bağıdır. 99. bölümde, ajans sunumlarını yırtıp atıyor ve masadaki parayı kasanıza sokacak yepyeni bir stratejiyi konuşuyoruz: Astromarketing.Neden 99. bölüm? Nümerolojide 9 bitişi ve bilgeliği temsil eder. 99 ise eski ezberlerin kapandığı, 100'e yani büyük uyanışa geçtiğimiz eşiktir. Bu eşik, 12 Ağustos Güneş Tutulmasının "eskiyi yık, yeniyi inşa et" enerjisiyle tam örtüşüyor. Kârlılığınızı eriten klasik pazarlama alışkanlıklarınızı bugün tamamen yıkıyoruz.Bu Bölümde Hangi Ödünsüz Gerçekleri Deşifre Ediyoruz?Gökyüzündeki Şalter ve "Lunar Effect": Astroloji mistik bir inanç değil; binlerce yıllık insan davranışı veri tabanıdır. Wall Street'te dolunayda borsa getirilerinin düştüğü bilimsel bir gerçektir. %70'i su olan insanın, devasa gelgit yaratan kütle çekiminden etkilenmemesi, amigdalasının buna tepki vermemesi imkansızdır.Tutulma Enerjisi ve FOMO: Tutulmalar insan psikolojisinde kadersel değişimleri tetikler. Müşteride "hayatımı değiştirmeliyim" dürtüsü uyanır. Kampanyalarınızı bu evrensel takvime ayarlayıp, teknik özellik yerine "dönüşüm vaadi" sattığınızda kasanızın nasıl dolduğunu konuşuyoruz. Bu dönemlerde FOMO kancaları 3 katı etki yaratır!Merkür Retrosu ve Bilişsel Yük: İletişim gezegeni geri hareketteyken tüketicinin odaklanma süresi düşer, tahammülü sıfırlanır. Bu dönemlerde karmaşık formlarla müşteriyi yormak yerine, neden sadece "Remarketing" yapmanız gerektiğini anlatıyorum. Eski müşteriye dönmek, retrolarda altından değerlidir.Takvimi Evrenin Matematiğine Uydurmak: CPM'lerin tavan yaptığı maaş günlerini unutun. Yeni Ay'ın coşkusunda lansman yapmayı, Dolunay'ın gerginliğinde ise "risksiz iade ve güven" kancalarıyla satışı nasıl kapatacağınızı öğrenin.Kampanyalarınızı bu duygusal döngülere göre optimize etmek ve masadaki parayı rakiplere bırakmamak için kanalı hemen takip edin. İşin mimarisini profesyonelce öğrenmek için sizi Joy Akademi'ye bekliyoruz. Biz orada insanlara butonlara basmayı değil, zihin haritalarını çizmeyi öğretiyoruz.12 Ağustos Tutulma Sürprizi:Eskiyi yıkıp yepyeni bir vizyon inşa etmek isteyenler için muazzam fırsat! Joy Akademi eğitimlerinde ödeme ekranına PODCAST yazarak anında 1.300 TL net indirim kazanın. Bu kod 30 Ağustos'a kadar geçerli. 30 Ağustos'ta bu kapı kapanıyor. Dönüşüm için ilk adımı atın, eğitime katılın veya ajans hizmeti için joykek.com üzerinden bize ulaşın; kasanızı doldurun!00:00 - 03:00 - İlk Güneş Tutulması ve 99. Bölüm03:00 - 04:34 - Astromarketing Nedir? (Lunar Etkisi)04:34 - 05:40 - Merkür Retrosu ve Remarketing05:40 - 07:00 - Güneş Tutulmasında FOMO Etkisi07:00 - 09:02 - Joy Akademi İndirimi (Kod: podcast)09:02 - 12:20 - Standart Kampanya Günlerinin Zararları12:20 - 15:50 - Yeni Ay ve Dolunay: Amigdalayı Yönetmek15:50 - 18:12 - Kapanış ve Sosyal Farkındalık

Listen to Jim Cramer's personal guide through the confusing jungle of Wall Street investing, navigating through opportunities and pitfalls with one goal in mind - to help you make money. Mad Money Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

A.M. Edition for Aug. 11. Anthropic tries to shore up pre-IPO investor confidence amid growing public backlash against AI. Plus, Wisconsin's Democratic gubernatorial primary pits the party's establishment against the far left. And WSJ's Chelsey Dulaney explains how American tourists with an insatiable wanderlust are boosting Europe's economies – whether locals like it or not. Luke Vargas hosts. Sign up for the WSJ's free What's News newsletter. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

My guest today is Eric Vishria, a General Partner at Benchmark.  Eric has spent his career in software and cloud, and few people know the history of these markets as well as he does. What makes him special is his ability to use that history to make sense of today.  We discuss what the rise of AWS teaches us about AI, what he has learned from investing in Fireworks, Sierra, and Cerebras, and how the criteria for winning have changed for founders and investors.  Please enjoy my conversation with Eric Vishria. For the full show notes, transcript, and links to mentioned content, check out the episode page ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠.  ----- Become a Colossus member to get our quarterly print magazine and private audio experience, including exclusive profiles and early access to select episodes. Subscribe at ⁠colossus.com/subscribe⁠. ----- ⁠Ramp's⁠ mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠ramp.com/invest⁠⁠ to sign up for free and get a $250 welcome bonus. ----- Trusted by thousands of businesses, ⁠Vanta⁠ continuously monitors your security posture and streamlines audits so you can win enterprise deals and build customer trust without the traditional overhead. Invest Like the Best listeners get a special offer of $1,000 off Vanta when you go to ⁠vanta.com/invest⁠.  ----- WorkOS⁠ is the infrastructure B2B and AI-native companies use to sell to enterprise. It covers everything enterprise security requires: SSO, SCIM, RBAC, Audit Logs, AI governance, and more. Trusted by 2,000+ fast-growing companies, including OpenAI, Anthropic, Cursor, and Vercel. ----- Rogo is the AI platform for finance. They're building agents for Wall Street that are trained to understand how bankers and investors actually do work: from diligence and modeling, to turning analysis into deliverables. To learn more, visit rogo.ai/invest. ----- ⁠Ridgeline⁠ has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Visit⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ridgeline.ai⁠. ----- Editing and post-production work for this episode was provided by The Podcast Consultant. Timestamps: (00:00:00) Welcome to Invest Like The Best (00:02:20) Learning the World Through Fireworks (00:05:42) AWS Was Going to Eat Everything (00:07:40) The Zero-Sum Thinking Trap (00:09:01) Comparing Cloud and AI Adoption (00:11:03) Becoming Enterprise's AI Sherpa (00:13:05) Building Sandcastles (00:14:55) The Return to Being Technical (00:17:13) The Shifting Competitive Frontier (00:22:10) Why the Old Playbook Fails (00:27:53) Energy as the Binding Constraint (00:29:38) The Cerebras Story (00:37:57) The Virtue of Productive Naivete (00:39:19) What Robotics Still Needs (00:45:58) What Makes a Great Board Partner (00:51:13) Raising A Growth Fund (00:55:39) What the Big Winners Taught Him (00:57:37) Hard Work Versus the Hole-in-One (00:58:38) The Best Reasons to Go Public (01:01:09) Debates Inside Benchmark (01:02:16) What If It All Works (01:03:35) What Geoff Hinton Got Wrong

#908: Flock cameras are a useful tool for law enforcement but there's growing backlash of a mass surveillance state. Lake Mead plummets to historic low levels. Mark Zuckerberg releases his own manifesto on the future of AI. Toby looks into the trend to Texas' own Wall Street – better yet, Y'all Street. Finally, Nvidia and Wall Street firms ink a deal to raise $500 billion in financing for the chipmaker's customers.  Submit your password guess! https://forms.gle/4EdBi3X8N4eMnBd56  Come to our August trivia! https://mbdtrivianight-august2026.splashthat.com/  Grab tickets to our Performance Revue show! https://www.morningbrew.com/events/brew-performance-revue-2026?utm_campaign=performance_revue_2026&utm_source=mbd Subscribe to Morning Brew Daily for more of the news you need to start your day. Share the show with a friend, and leave us a review on your favorite podcast app. Listen to Morning Brew Daily Here:⁠ ⁠⁠https://www.swap.fm/l/mbd-note⁠⁠⁠  Learn more about your ad choices. Visit megaphone.fm/adchoices

Investor Steve Eisman of “Big Short” fame delivers an AI bubble warning, coming on the heels of Nvidia's $500 billion financing deal with top firms on Wall Street. The traders make sense of the mega-deals playing out in tech now. Then, economist Joe Lavorgna lays out his expectations for tomorrow's CPI report—and why the former counselor to Treasury Secretary Bessent thinks the Fed should hike interest rates now. Plus, all the headlines from CoreWeave earnings, On Holding's worst day on record and the Options Action ahead of Cisco results. Fast Money Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Wall Street giants are partnering with Nvidia on a $500bn AI financing deal, the mega-merger between AstraZeneca and Bristol Myers Squibb has been put on ice, and queues at some EU airports have doubled because of border checks. Plus, the FT's Malaika Kanaaneh Tapper explains why Morocco's economy isn't helping its young workers. Mentioned in this podcast:Wall Street giants partner with Nvidia on $500bn AI financing dealHow AstraZeneca's pursuit of US rival Bristol Myers unravelledEU airport queues double due to border checks Hotel prices in Europe surge ahead of historic eclipseSpain's migrant amnesty a ‘very bad idea', says Swedish PMMorocco's two-speed economy leaves young workers behindWant to get in touch? Email us at podcasts@ft.comFT subscription finder: https://find-your-subscription.ft.com/?segmentId=288f5dc5-4a4b-0745-84da-8f07c7202cd4 Note: The FT does not use generative AI to voice its podcasts The FT News Briefing is produced by Victoria Craig, Sonja Hutson, Saffeya Ahmed, and Katya Kumkova. Our editor is Marc Filippino. Our show is mixed by Sam Giovinco and Alex Higgins. Additional help from Gavin Kallmann, Michael Lello, Peter Barber and David da Silva. Our executive producer is Topher Forhecz. Flo Phillips is the FT's global head of audio. The show's theme music is by Metaphor Music.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Nvidia is taking in $500 billion in new financing from major Wall Street firms as CEO Jensen Huang touts chips as the next “investable asset.” Former senior White House policy advisor on AI Sriram Krishnan discusses America's tech race with China and the next opportunities in artificial intelligence, including in cyber security. CNBC's Dan Murphy reports on the new normal in the Strait of Hormuz, a Tesla-SpaceX merger could fast-track Elon Musk's pay package, and a Staten Island judge has ordered an emergency pause on Mayor Mamdani's new pied-a-terre tax. Plus, Virginia Governor Abigail Spanberger is intervening in the sale of Dominion Energy to an out-of-state company. The moderate democrat discusses Virginia's business ecosystem and the primaries underway in multiple states across the country.    Dan Murphy - 04:22 Gov. Abigail Spanberger - 15:06 Sriram Krishnan - 31:53    In this episode: Abigail Spanberger, @GovernorVA Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Melissa Lee, @MelissaLeeCNBC Dan Murphy, @dan_murphy Katie Kramer, @Kramer_Katie Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Nvidia's half-trillion-dollar financing deal with Wall Street's biggest lenders signals a new phase in the AI infrastructure boom. On today's Squawk on the Street, tech investor Byron Deeter breaks down what the deal means for capital markets and the future of AI investment. Plus, we preview two closely watched earnings reports from CoreWeave and Super Micro that could shape sentiment across the tech sector. And GXO Logistics CEO Malcolm Wilson joins the show to discuss how the company is positioning itself to benefit from the rise of artificial intelligence. Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Carl Quintanilla, Jim Cramer, and David Faber broke down the impact of Nvidia's massive $500 billion AI infrastructure partnership with six Wall Street giants, including Goldman Sachs, BlackRock, and Apollo. Also in tech, the desk discussed Intel upsizing its stock offering to $20 billion at $95 per share to keep up with AI demand. After the opening bells, they also broke down energy prices and the fate of the Strait of Hormuz, as deal talks showed no signs of progress. Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

En este episodio especial de Café en Mano Podcast, grabado desde una playa de Puerto Rico y presentado en colaboración con Nissan, conversamos con Carlos Feliciano sobre la realidad económica que vive esta generación y las decisiones que pueden marcar una diferencia en nuestras finanzas.Hablamos sobre la recesión en Puerto Rico, el aumento en el costo de vida, las deudas de consumo, el uso de Klarna y otros planes de pago, comprar versus alquilar una propiedad, cómo comenzar a invertir y los errores que muchas personas cometen al tomar decisiones financieras importantes.Además, analizamos por qué no debemos fijarnos únicamente en una mensualidad, sino también en elementos como los intereses, la garantía, el consumo de combustible y el costo total de una compra.Conoce más sobre la calidad y el respaldo de Nissan aquí:https://bit.ly/4pAl3th☕ Café Dos Caminos:Consigue un 10% de descuento utilizando el código CAFEENMANO.

Last week, 24-year-old Leopold Aschenbrenner — former FTX staffer, ex-OpenAI researcher, and author of the viral 165-page essay "Situational Awareness" — managed to lose roughly two-thirds of his $45 billion hedge fund in a matter of weeks. The margin calls arrived during his wedding weekend.In this video I break down how a trader with no professional experience raised billions from Silicon Valley, why his AI "hedge" wasn't a hedge at all, and how leverage plus a concentrated bet on artificial intelligence stocks turned a great-looking expected return into a catastrophic outcome. Along the way we look at the cultural gap between Silicon Valley and Wall Street, why Ken Griffin's Citadel ended up buying the collapsing portfolio in an overnight fire sale, and the maths of volatility drag — the reason a high expected return can still drag an investor's typical outcome straight into the ground.It's a story about leverage, risk management, expected versus median returns, and what happens when you go "full Kelly." Featuring reporting from the Wall Street Journal, The New York Times, Bloomberg, and the Financial Times, plus Victor Haghani's lessons from The Missing Billionaires.

Ben and Tom discuss the $500 billion private-capital AI infrastructure fund unveiled on CNBC by Jensen Huang, David Solomon, Larry Fink, Jonathan Gray, and the heads of Apollo, KKR, and Brookfield, Fink's comparison of financing GPU purchases to the early days of 1970s mortgage-backed securities and the underlying assumption that Nvidia chips won't depreciate, a breakdown of how asset-backed lending structures like aircraft bonds could apply to GPU financing, Tom's "Through the Looking Glass" thesis arguing markets remain captive to Bernanke-era assumptions that no longer hold in a supply-side, fiscal-dominance framework, tomorrow's CPI report and whether a firm print could test Warsh's rate stance, and NFIB Small Business Optimism hitting its highest level since last August with hiring plans at a four-year high even as actual employment remains soft.Join our live YouTube stream Monday through Friday at 8:30 AM EST:http://www.youtube.com/@TheMorningMarketBriefingPlease see disclosures:https://www.narwhal.com/disclosure

MRKT Matrix - Tuesday, August 11th S&P 500 falls amid Iran uncertainty, Big Tech losses (CNBC) An inflation report Wednesday should be a big deal for the Fed. Here's what to expect (CNBC) Santoli: Stocks return to winning ways. Why the market gods may not be satisfied with July's brief pain (CNBC) One big question remains for the bull market, says Bank of America (CNBC) Investors poured $2.3 billion into this riskier corner of the bond market in July (CNBC) Nvidia is trying to quiet ‘circular financing' accusations. Wall Street is unsure it will (CNBC) AI computing power is becoming a tradable asset class as CME launches futures contracts (CNBC) SpaceX shares can more than double, Morgan Stanley says. The bull thesis isn't based on space business (CNBC) --- Subscribe to our newsletter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠http://riskreversal.substack.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ MRKT Matrix by RiskReversal Media is a daily AI powered podcast bringing you the top stories moving financial markets Story curation by RiskReversal, scripts by Perplexity Pro, voice by ElevenLabs

A former OpenAI researcher correctly saw where the AI boom was headed, built a hedge fund around that prediction, and watched it grow to roughly $45 billion in assets.Then July happened.Leopold Aschenbrenner's Situational Awareness fund lost 67% of its portfolio, wiping out roughly $35 billion. But the interesting part of this story is that his original bet on AI may not have been wrong.So how do you lose $35 billion while being right about the bigger trend?In this episode of First Sip, I break down what happened, what a hedge fund actually is, how leverage can multiply both your wins and losses, and how a margin call can force you to sell an investment even when you still believe in it.More importantly, we get into the lesson that applies far beyond Wall Street: being right doesn't matter if you don't have enough runway to survive being early.If you're building a business, investing, using debt, or betting on an idea you believe in, this is a story worth understanding.Stay tuned, stay curious, and as always, enjoy your first sip.Click here to watch the full episode on YouTubeWhat did you think about this episode?--------------------------------Get the First Sip Field Notes: A weekly newsletter for curious people building better businesses, careers, and lives. You'll also get a free tool to help you decide if that idea you're sitting on is actually worth building.https://firstsipfieldnotes.beehiiv.com/subscribeCONNECT WITH DEKIMBE: YouTubeInstagram  Facebook LinkedInFOLLOW THE PODCAST:InstagramApple PodcastsSpotifyFor podcast sponsorship & advertising opportunities please contact: firstsippod@gmail.com

They're BACK! After disappearing from the U.S. markets years ago, Single Stock Futures are making a comeback, and this time the CME Group is bringing them back in a big way. But the big question is... Do traders actually need them? In today's episode, we'll break down the revival of Single Stock Futures (SSFs) and explain exactly what these products are, how they work, and why the CME believes the timing is right to bring them back. The new contracts allow traders to gain futures exposure to individual stocks such as Nvidia, Tesla, Microsoft, Alphabet, Meta and dozens of other major U.S. companies—without actually owning the underlying shares. And there are some interesting potential advantages. We'll discuss: What exactly is a Single Stock Future? Why did Single Stock Futures disappear in the first place? Why is the CME bringing them back NOW? How do they compare with simply buying the stock? How do they compare with stock options? What are the margin and leverage implications? Why nearly 24-hour trading could be a major advantage How Single Stock Futures make shorting stocks much easier Who should—and shouldn't—consider trading them? CME has launched 55 full-sized Single Stock Futures and 22 Micro Single Stock Futures, giving traders the ability to control exposure equivalent to either 100 shares or, with the Micros, just 10 shares. That could make these contracts particularly interesting for active traders looking for greater capital efficiency, easier short exposure, and the ability to react to news outside normal stock-market hours. But just because Wall Street creates a new product doesn't mean you need to trade it. The real question isn't whether Single Stock Futures are exciting. It's whether they give you an advantage over the products you already use. That's what we'll figure out on today's show. Learn more about the new contracts:

Market pullbacks may actually work in your favor at tax time, if your portfolio is set up to take advantage of them. That's where direct indexing comes in. It's not about trying to time the market. It's a disciplined way to capture tax losses along the way, while helping to keep your investment mix and expected returns where you want them.  In this episode of Off The Wall, David B. Armstrong, CFA and Nate Tonsager, CIPM, CFA break down why direct indexing is far more than a tax tool; it's a customizable strategy for every stage of your financial life. They explain how to build a "tax war chest" to offset future windfalls, ways to transition between portfolios or advisors without triggering a massive tax hit, and how to think about withdrawing cash in retirement. The TLDR: Direct indexing turns market sell-offs into tax-saving opportunities without pulling you out of the market. Whether you're building wealth, switching strategies, or funding retirement, harvesting losses helps keep your return profile intact and give you more control over your  tax bill. Investing is not just about what you make; it's about what you get to keep.     Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures   Episode Timeline/Key Highlights:  1:28 - Why Direct Indexing Matters 3:04 - How Tax Loss Harvesting Works 8:37 - The Hidden Value Of Customization 11:57 - Accumulation Phase And Tax War Chest 16:07 - Switching Advisors Without A Tax Bomb 21:57 - Retirement Cash Needs And Tax Control 24:41 - Timing Withdrawals To Maximize Offsets 26:18 - Important Disclosures 27:01 - Pogo Stick Analogy And Wrap-Up   Connect with Monument Wealth Management:    Visit our website: https://monumentwealthmanagement.com/   Follow us on Instagram: https://www.instagram.com/monumentwealth/#   Connect on LinkedIn: https://www.linkedin.com/company/monument-wealth-management/   Connect on Facebook: https://www.facebook.com/MonumentWealthManagement   Connect on YouTube: https://www.youtube.com/user/MonumentWealth#Fit   Subscribe to our Private Wealth Newsletter: https://monumentwealthmanagement.com/subscribe/   Check out our Between Sips Podcast: Where Money Meets Meaning Because money without meaning never feels like wealth. https://monumentwealthmanagement.com/between-sips-podcast/   About "Off the Wall":    Markets move fast, and headlines rarely tell the full story. Off The Wall cuts through the noise with unfiltered market and economic insight from Monument's CEO David B. Armstrong, CFA and Portfolio Manager Nate Tonsager, CFA, CIPM. Tune in for the conversations that actually explain what's moving your portfolio, without the Wall Street spin.   Learn more about our hosts on our website at https://monumentwealthmanagement.com   

In this powerful episode of Giving Pain Purpose, Lyndsay Soprano sits down with entrepreneur, filmmaker, and psychedelic wellness advocate Zappy Zapolin for a conversation about trauma, chronic pain, and the evolving world of psychedelic-assisted healing.Together, they explore why so many people continue to struggle despite years of traditional treatments and how emerging research is changing the way we think about healing the mind and body. Zappy shares his own transformational journey and offers insight into the unique roles different psychedelic medicines may play in addressing trauma, addiction, depression, anxiety, and chronic pain.Throughout the episode, Lyndsay reflects on her own healing journey and the hope that can emerge when we're willing to explore new possibilities.This conversation is honest, inspiring, and a reminder that healing isn't always about finding another treatment—sometimes it's about discovering an entirely new path forward.Episode Highlights:(00:01) Lyndsay opens up about anxiety, alcohol, and ketamine therapy(02:48) Zappy's vision for psychedelic healing(04:15) Introducing Zappy Zapolin(05:13) Zappy's first psychedelic experience(06:15) From Wall Street to the jungle(08:00) The Reality of Truth and 25 million views(09:30) Meeting God in the jungle(11:00) How ibogaine works and what to expect(14:00) Ayahuasca, psilocybin, and combo explained(20:00) Lois's story from near death to fully healed(26:00) The caterpillar death spiral(32:00) How to start with microdosing(37:00) The CRPS community and why plant medicine matters(38:02) Finding perspective through a mushroom journey(40:21) Don't wait for your doctor(41:04) Where to find Zappy and closing thoughtsFind Zappy Zapolin Online Here:Website: psychedelicconcierge.comInstagram: @zappyzapolinYouTube: @PsychedelicConceirgeLinkedIn: Zappy ZapolinPodcast: Psychedelic Concierge PodcastFind Giving Pain Purpose Online Here:Website: givingpainpurpose.comInstagram: @givingpainpurposeFacebook: The Giving Pain Purpose PodcastLinkedIn: Lyndsay SopranoYouTube: @givingpainpurposeShop: thegivingpainpurposeshop.comSubscribe on YouTube | Merch Shop is OPEN!! | COMING SOON: The Pain Hub - A Women's Healing Community. Subscribe Now!Unfiltered convos. Dark humor. Real healing. This is where pain meets purpose — and you're not doing it alone.++Want to be a guest on Giving Pain Purpose with Lyndsay Soprano? Send her a message on PodMatch, here: Be a Guest on The Show

AI investment accelerates as Nvidia and Wall Street expand financing for infrastructure while questions grow around valuations and returns. Plus, cybersecurity risks and open source competition reshape the AI race. Later, energy, oil and commodities gain momentum as investors look beyond tech for opportunities. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

AI demand has sent memory chip prices and semiconductor costs soaring, but the bigger question is whether this is a lasting inflation problem or just another boom and bust cycle for chips.Mike Armstrong and Paul Lane break down why the AI buildout has pushed up prices for chips, servers, and data center equipment, why semiconductor costs may stay elevated in the short term, and why new supply and innovation could eventually bring prices back down. They also discuss Jensen Huang's push to make AI chips look like longer-lasting financial assets, why Wall Street may try to create new markets around compute, and the risks that come with financializing semiconductors. Plus, they look at Intel's $20 billion share sale, why government ownership of Intel complicates the AI investment story, how fear can drive bad retirement decisions, Anthropic's IPO push, Waymo's growing pains, and why hybrids are gaining ground as gas prices rise.

JUL. 23, 2026Always do a good job."The Lord God put the man in the garden of Eden to care for it and work it." Ge 2:15 NCVThe first thing God did when He made Adam was put him to work. That's because work gives us a sense of purpose, meaning, and dignity. "God put the man in the garden...to... work it." So Adam was a gardener. But whether you count cash in a bank, trade futures on Wall Street, flip burgers in a beach-side stand, whip up pasta specials at a five-star restaurant, fell giant timber in the forest or split and deliver firewood, coach a team, pastor a congregation, publish bestselling books, deliver newspapers in the early morning hours, star in your own television show, farm a large acreage, mow and edge neighborhood lawns, go out on the road as a salesman for computers, drive a truck loaded with machinery, build homes, clean swimming pools, argue cases before a judge, or settle family disputes as a counselor, always do a good job. A wise man once said: "Every job is a self-portrait of the person who does it. Autograph your work with excellence." The biblical character Daniel did that. And like cream, he rose to the top in Babylon. "Daniel was preferred above the presidents and princes, because an excellent spirit was in him" (Da 6:3 KJV).There are no small jobs, only people who perceive them as small and become small in doing them. The Bible says: "Lazy people want much but get little, but those who work hard will prosper" (Pr 13:4 NLT). So always do a good job.Always do a good job Purpose, meaning, and dignityShare This DevotionalSend us Fan MailSupport the showChanging Lives | Building Strong Family | Impacting Our Community For Jesus Christ!

Original Youtube https://youtube.com/live/kkLm1ShOr_0

Original https://youtube.com/live/hVP08tgDX_Y⭐ Riot Platforms se dispara tras reporte sobre acuerdo de US$9.000 millones con Anthropic.

En Capital Intereconomía repasamos las claves del día y la evolución de los mercados en Asia, Wall Street y Europa, con la tecnología, la situación en el estrecho de Ormuz y las expectativas sobre la inflación estadounidense marcando el pulso de los inversores. En Asia, el Nikkei permanece cerrado, mientras Australia mantiene sin cambios los tipos de interés y Singapur eleva sus previsiones de crecimiento. En Europa, las dudas sobre la evolución del conflicto en Ormuz frenan al Ibex 35 e impiden al selectivo español prolongar su escalada hacia nuevos máximos. Mientras, Nvidia vuelve a situarse en el centro de la actualidad tras cerrar un acuerdo de financiación vinculado a la inteligencia artificial por 500.000 millones de dólares. En el primer análisis de la mañana conversamos con Pablo de Vicente, asesor financiero de Evolutio Capital Investment, para valorar en qué momento se encuentran los mercados después de los máximos alcanzados la semana pasada y si todavía existe recorrido para las bolsas. Analizamos la previsión de JPMorgan, que eleva su objetivo para el S&P 500 hasta los 8.000 puntos, y ponemos el foco en el petróleo y en el estrecho de Ormuz como uno de los principales focos de riesgo para los mercados. También miramos a Estados Unidos ante la publicación del dato de inflación y sus posibles consecuencias para las expectativas sobre tipos de interés. Analizamos además el fuerte rally del oro, que acumula una subida cercana al 10% en una semana en medio de la incertidumbre en Oriente Medio, y debatimos sobre su papel en las carteras. Por último, ponemos el foco en la tecnología y en si el sector mantiene potencial bursátil ante las enormes necesidades de financiación e inversión, con movimientos como el de Nvidia o la oferta de acciones de 15.000 millones de dólares anunciada por Intel. Terminamos la hora con el repaso a las principales portadas de la prensa económica nacional e internacional para conocer las noticias que marcarán la actualidad financiera, empresarial y macroeconómica de la jornada.

En Capital Intereconomía, la Tertulia Capital analiza la actualidad política, económica y tecnológica junto a Gonzalo Garnica, consultor empresarial; Juan Francisco Polo, senior advisor de FTI Consulting; y Carlos Tobías, abogado. Durante el debate ponemos el foco en la polémica en torno al Mundial de 2030. Analizamos las declaraciones de Donald Trump, que considera que una eventual destitución de Gianni Infantino al frente de la FIFA sería "un error terrible", y el debate político abierto en España después de que Vox haya anunciado su apoyo a la propuesta de Sumar para excluir a Marruecos de la organización del Mundial. También abordamos uno de los grandes debates económicos del momento: el enorme volumen de inversión necesario para desarrollar la inteligencia artificial. Analizamos la alianza de Nvidia con grandes firmas de Wall Street para captar 500.000 millones de dólares y nos preguntamos hasta qué punto es sostenible el ritmo de gasto que está exigiendo la carrera por liderar la IA y qué impacto puede tener sobre las valoraciones de las grandes compañías tecnológicas. Además, ponemos el foco en el manifiesto lanzado por Mark Zuckerberg para defender un desarrollo de la inteligencia artificial con menos barreras en Occidente. El CEO de Meta advierte de los riesgos que supondría que una única entidad o país concentrase demasiado poder sobre esta tecnología y reclama un modelo que favorezca una mayor apertura y competencia. Por último, analizamos la preapertura de las bolsas con Pablo García, director de Divacons-AlphaValue, que repasa las principales referencias empresariales, macroeconómicas y geopolíticas que marcarán el inicio de la sesión en los mercados europeos.

Listen to Jim Cramer's personal guide through the confusing jungle of Wall Street investing, navigating through opportunities and pitfalls with one goal in mind - to help you make money. Mad Money Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

P.M. Edition for Aug. 10. The FDA has laid out new rules intended to make the food system more transparent, part of an overhaul promised by Health Secretary Robert F. Kennedy Jr. WSJ reporter Liz Essley Whyte discusses how the new rules would work and why guidelines for ultraprocessed foods didn't come today. Plus, as Iran strengthens its demands in negotiations to reopen the Strait of Hormuz, Gulf states have begun accepting a new reality: that Tehran will control the strait for the foreseeable future. We hear from WSJ Middle East correspondent Benoit Faucon about what they are doing about it. And more than 70 people have been killed in a 7.4 magnitude earthquake in Colombia. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The traders react to Nvidia's milestone AI partnership with top financial institutions totaling half a trillion dollars. What CEOs from all the companies involved had to say about the deal in a CNBC roundtable today. Plus guest trader Mike Schumacher, formerly of Wells Fargo Securities, makes the case that Federal Reserve Chairman Kevin Warsh could be far more hawkish on interest rates than the market thinks. Fast Money Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Scott Wapner and the Investment Committee debate how to navigate a bullish environment where Wall Street firms raise stock targets. Plus, Jefferies downgrades Apple to a sell, the desk break down the call. And later, CNBC's Oliver Renick joins us to discuss the latest Options Action in the Software Sector.  Investment Committee Disclosures Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Jim Ferraioli, Head of Crypto Research at Charles Schwab, joined me to discuss the firm's expanding lineup of crypto products and the growing demand for digital assets.Topics: - Why Charles Schwab launched crypto products - TradFi embracing crypto and building with Blockchain - Tokenization of assets- Rotation from AI to Bitcoin mining- Will Altcoins decouple from Bitcoin overtime?

AI and Wall Street titans combine forces: NVIDIA's Jensen Huang, Goldman Sachs' David Solomon, BlackRock's Larry Fink, Blackstone's Jon Gray, Apollo's Jim Zelter, Brookfield's Bruce Flatt and KKR's Waldemar Szlezak discuss with our Becky Quick their new agreement $500B between the companies to fund AI infrastructure projects. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.