This week, we speak with Gary D. Cohn, former director of the National Economic Council. He is an internationally recognized expert on the financial markets, global economy, economic policy and US politics. Cohn is vice chairman of IBM. He served as…
Before your week ends and you head out for door, I had to share a new paper from St. Louis Fed. The title: Can Economists Predict Recessions? Short answer: Maybe a quarter ahead (but not always). Beyond that short time frame, it’s…
I have been watching various sentiment polls and Right/Wrong Track questionnaires with detached bemusement. Bemused because they are so silly, and detached because I know I can’t change human nature. What I can do is share a few modest insights; hopefully,…
My morning train reads: • How the Writers Deal Got Done: Inside the Room: From the Chris Keyser-CEO calls that brought them back to the table to the ask that almost derailed the deal, a play-by-play of the final negotiations. (Hollywood…
Mapped: The Migration of the World’s Millionaires in 2023 Source: Visual Capitalist
The transcript from this week’s, MiB: Armen Panossian, Oaktree Capital Management, is below. You can stream and download our full conversation, including any podcast extras, on Apple Podcasts, Spotify, Google, YouTube, and Bloomberg. All of our earlier podcasts on your favorite pod…
This week, we speak with Armen Panossian, managing director and head of performing credit at Oaktree Capital Management, which has $179 billion in assets under management. He oversees the firm’s liquid and private credit strategies, and also serves as a portfolio…
The weekend is here! Pour yourself a mug of coffee, grab a seat outside, and get ready for our longer-form weekend reads: • Dave Portnoy Bought Barstool Back. Can Erika Ayers Badan Keep His Pirate Ship on Course? As Penn pivots…
The September Federal Reserve meeting is behind us we still have November and December ahead of us. Markets are nervous expecting another hike before years over before two cuts in 2024. My advice: ignore those expectations as they have been wildly inaccurate…
With 10 days left in the Third Quarter, it seems that lots of folks have been obsessing about the various GDP Now forecasts. The thinking is the data will impact how the FOMC will determine whether we get more rate increases…
My mid-week morning train reads: • How Individual Retirement Accounts Changed the Stock Market Forever: In 1953 only 4% of the country owned stocks. Even after the 1950s bull market that saw the U.S. stock market rise by nearly 500% (19.5% per…
The transcript from this week’s, MiB: Elizabeth Burton, Goldman Sachs Asset Management, is below. You can stream and download our full conversation, including any podcast extras, on iTunes, Spotify, Google, YouTube, and Bloomberg. All of our earlier podcasts on your favorite…
My Two-for-Tuesday morning train reads: • Into Perspective: The US Auto Labor Dispute and Recession Worries: Partial work stoppages can impact local economies, but the national effect should be minimal. (FI) but see Whatever the UAW Strike Outcome, Elon Musk Has…
“This is the last straw, I am quitting today.” I was in Newport Beach at a PIMCO-sponsored event where I presented on what led to the great financial crisis. My book Bailout Nation had been out for a while, and I…
Avert your eyes! My Sunday morning look at incompetency, corruption, and policy failures: • When the Homeowners Association Comes for Your Home: A spate of foreclosures filed by HOAs in Denver illustrates the potential risks of an increasingly common homeownership model. (Citylab)…
This week, we speak with Elizabeth Burton, managing director and client investment strategist at Goldman Sachs Asset Management. She advises institutional clients on investment strategies and portfolio objectives, working alongside global client advisers and product strategists across public and private markets.…
Join us for a thought-provoking live podcast event from IEX Exchange’s “Boxes and Lines” podcast hosted by Ronan Ryan and John Ramsay, as they take on the latest trends, innovations, and technologies shaping e-commerce and web3 This week’s edition: Me! Barry…
I made it back home from California late last night after a long day of travel and an exhausting but absolutely exhilarating week. Following the breakout success of Future Proof 2022, this year’s event was even bigger and better — almost…
This year, we lost one of Wall Street’s brightest lights. Beginning in 1974, and over the next 50 years of investing, Laszlo Birinyi closely watched the markets. He was one of the market’s most insightful observers and served clients with great…
The transcript from this week’s, MiB: Jon McAuliffe, the Voleon Group, is below. You can stream and download our full conversation, including any podcast extras, on iTunes, Spotify, Google, YouTube, and Bloomberg. All of our earlier podcasts on your favorite pod hosts…
This week, we speak with Jon McAuliffe, who is co-founder and chief investment officer at the Voleon Group, heading the firm’s investment strategy, research, and development. Previously, he developed and managed statistical arbitrage trading strategies at D.E.Shaw. McAuliffe has a unique…
We hosted the 1st Future Proof conference last year, and it was a banger! (full reviews here). This year, we are upping the ante, with more speakers, more live podcast recordings, and more fun! Almost all of the RWM team is…
If ever a week was ripe for delaying your return to the office, it was this one. Hurricane Idalia cleared out the weather up and down the coast, bringing two weeks of clear blue skies and decent surfing (and dangerous rip…
In 2016, I wrote about the novelist and screenwriter William Goldman, and his delightful book, “Adventures in the Screen Trade.” He is the Academy award-winning scriptwriter who penned such classics as “Butch Cassidy and the Sundance Kid” (1969), “All the President’s…
The transcript from this week’s, MiB: Jonathan Miller on Post-Pandemic Residential Real Estate, is below. You can stream and download our full conversation, including any podcast extras, on iTunes, Spotify, Stitcher, Google, YouTube, and Bloomberg. All of our earlier podcasts on…
My 3-day weekend reads: • How Friday Became the New Saturday: A summer perk became a year-round staple. More white-collar employees are clearing the decks at the end of the week after pandemic upended in-office work. ‘Friday is just a dead…
This week, we speak with Jonathan Miller, founder and CEO of Miller Samuel, a real estate appraisal & consulting firm founded in 1986. His weekly Housing Notes is widely read among the real estate community of appraisers and agents. We discuss…
The Fed is done. It’s unimaginable that they will do anything at the September FOMC meeting, and barring any radical change in the data, it’s unlikely they will be doing anything in November. I have been saying since June 2022 that…
The Fed’s favored inflation report was a 2.1% annualized (3 months through July) and 3.3% year-over-year. Here is BEA: Personal income increased $45.0 billion (0.2 percent at a monthly rate) in July, according to estimates released today by the Bureau of Economic…
Morningstar blames “mistimed purchases and sales;” Carl Richards calls it the “Behavior Gap.” Vanguard’s Fran Kinnery describes the cure as “Advisors Alpha.” Whatever phrase you select, the persistent gap between investors’ performance and the assets they hold, is a substantial…
The transcript from this week’s, MiB: Greg Davis, CIO Vanguard, is below. You can stream and download our full conversation, including any podcast extras, on Apple Podcasts, Spotify, Stitcher, Google, YouTube, and Bloomberg. All of our earlier podcasts on your favorite…
Econ on the Road Labor, Consumers, Inflation & Data Earlier this month, I spent two and a half hours each way in a car — plus a quick (and horrifying) lunch at the wonderful Eagle’s Nest for Loster Roll and fries.…
This week, we speak with Vanguard’s chief investment officer Greg Davis. He is responsible for the oversight of approximately $7 trillion managed by Vanguard fixed income, equity index, and quantitative equity groups. Davis also serves as a member of the Treasury…
The first post-pandemic presentation I pulled together for my pal Joe Fitzgerald (we worked together in the late 2000s) was a new deck titled: Biggest Mistakes Made by UHNW Investors. In the intervening year, I updated and refined the deck, adding…
How little do we know about what the future holds? A great way to figure that out is to look to our past, to see what we previously thought about what the future will hold. To wit: 26 years ago, the…
Most people believe that investing is the science of generating a return on capital. That is an accurate but incomplete assessment. I believe it is more useful and comprehensive to define investing as the decision-making behavior of human beings as they…
The transcript from this week’s MiB Cass Sunstein on Decision Making, is below. You can stream and download our full conversation, including any podcast extras, on iTunes, Spotify, Stitcher, Google, YouTube, and Bloomberg. All of our earlier podcasts on your favorite…
Source: Adam Khoo, Twitter A preface before we get into this: Michael Burry has proven himself to be a rare fund manager. He has a great ability to identify a variant perception versus the Wall Street consensus and express that view…
This week, we speak with legal scholar Cass Sunstein, who founded and leads Harvard Law School’s Program on Behavioral Economics and Public Policy. He has authored numerous books, including the NYT bestseller The World According to Star Wars as well as…
I have a new column out in Businessweek, just in time for the Federal Reserve meeting in Jackson Hole. It is a congratulatory open letter to Federal Reserve Chairman Jerome Powell and the rest of the Fed on beating inflation: Dear…
There is a particular type of analysis I keep seeing that can mislead investors. It’s an important, single data point, but one that is lacking in context. This seems to be an oversimplification that many investors have as their default setting.…
The transcript from this week’s, MiB: Ted Seides, Capital Allocators, is below. You can stream and download our full conversation, including any podcast extras, on iTunes, Spotify, Stitcher, Google, YouTube, and Bloomberg. All of our earlier podcasts on your favorite pod…
My back-to-work morning train WFH reads: • There Is No “Stealth Fiscal Stimulus” The federal budget deficit is widening thanks to falling capital gains tax receipts and soaring net interest interest payments (including via the Federal Reserve). None of this is…
This week, we speak with asset management expert Ted Seides, founder of Capital Allocators. His most recent book is “Capital Allocators: How the world’s elite money managers lead and invest;” he is also the host of the popular “Capital Allocators” podcast, which…
I am super jazzed for this year’s Future Proof. Our second go-around is even bigger and better than last year’s! It is nothing like the usual financial conference — it’s totally outdoors, right on the Pacific in Huntington Beach. We took…
My end-of-week morning train WFH reads: • Seth Klarman on What Makes a Value Investor and Committing ‘Sacrilege’ in New Edition of ‘Security Analysis.’ Klarman edited the classic to remind investors of basic principles — but he questions “how much of…
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Dear Donors,
We hope this message finds you in good health and high spirits. We are reaching out to you today with a heartfelt appeal for your support in sustaining our health practice. Over the past two decades, our firm has been dedicated to providing specialized care to those in need, and now we turn to you, our valued community, to help us continue this noble mission.
Since our establishment in 2003, our practitioner, a seasoned researcher, teacher, and healer, has devoted over 30 years of his life to serving individuals who have experienced the unimaginable. His journey began by offering care to people returning from conflict zones, wars, natural and man-made disasters, and those who have been victims of torture. Through his expertise, he has been able to alleviate the physical and emotional burdens that these individuals carry.
Our practitioner’s specialization lies in the treatment of psychotrauma and Post-Traumatic Stress Disorder (PTSD), understanding the profound impact they have on health and life, not only for the individuals directly affected but also for their loved ones. Additionally, he has dedicated himself to providing long-term support for those battling physical and mental injuries, cancerous pathologies, genetic diseases, and other challenging conditions.
Through his unwavering commitment, he has helped and cared for several thousand people who were in desperate need, enabling them to not only survive but thrive. For those who lacked financial means, he has always offered care free of charge, allowing them to receive the support they needed, regardless of their circumstances. Those who could afford it were encouraged to contribute what they could, fostering a sense of community and shared responsibility.
The impact of our practitioner’s work cannot be overstated. Lives have been saved, hope has been restored, and the journey towards healing has been made possible for countless individuals. However, we find ourselves at a critical juncture where we urgently need your help and support to ensure the continuity of our services.
By making a donation to our health practice, you will directly contribute to the well-being and transformation of lives. Your generosity will empower us to continue providing essential care, support, and treatment to those who are most vulnerable. Your contribution will help us acquire the necessary resources, develop innovative therapies, and expand our reach to make a lasting impact on the lives of individuals and communities in need.
Join us in making a difference today. Your support will not only sustain our practice but also enable us to extend our services to those who might otherwise go without the care they desperately require. Together, we can create a brighter, healthier future for all.
To make a donation, please visit our donation page. Every contribution, no matter the size, makes a significant difference in the lives of those we serve.
Thank you for considering our appeal and for your compassion in supporting our health practice. Together, we can continue to save lives and inspire hope.
With deepest gratitude,
Yan A. Reichlen de Meldegg
Practitioner in Neusopsychology
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