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Mar 30, 2024
03/24
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[laughter] francine: over two decades. what was the most interesting, you have grown the business by so much, what was the most difficult question about how to grow it? bruce: the amazing thing about this business is you're learning every day. and the world is changing all the time. but if i went back 22 years or 32 years, what we invested in then and now are very different. data centers didn't exist then. telecom towers were owned by all the phone companies. these are things, the business evolves and the backbone evolves of the economy, so it is a really interesting business to be in because you are always learning. francine: but it is a difficult business, because you don't want to be kodak, right, you don't want to invest in something that goes nowhere. bruce: we are always trying to understand where is the future going, and how do we invest with that? and often it is listening to your counterparties, your clients, your partners, and hearing what they are saying. and what they want to do. and we are going with them. we
[laughter] francine: over two decades. what was the most interesting, you have grown the business by so much, what was the most difficult question about how to grow it? bruce: the amazing thing about this business is you're learning every day. and the world is changing all the time. but if i went back 22 years or 32 years, what we invested in then and now are very different. data centers didn't exist then. telecom towers were owned by all the phone companies. these are things, the business...
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Mar 21, 2024
03/24
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francine: the original.ruce: we were the original because we were in industrial businesses ourselves, and how we got into the infrastructure business is we decided we did not like the up of many of the industrial businesses we had, mining businesses. but we really liked the backbone infrastructure in these businesses. 20 years ago we started doing it for institutional clients. at that time, we would list -- nobody would invest with us. so, it is quite, it is great, that this has become mainstream today. the good news, i would say, we are still a leader in it. we have very large funds, in fact, the largest in the world. and, therefore, we just continue to try to differentiate our investment strategies, and with size, scale, operating people, and the ability to grow in the place as we are. i think we are, to others get-- do others getting stronger help us? probably not but it does not really bother us, and i think there is a place for us to to continue to grow the business. francine: coming up, why bruce flatt
francine: the original.ruce: we were the original because we were in industrial businesses ourselves, and how we got into the infrastructure business is we decided we did not like the up of many of the industrial businesses we had, mining businesses. but we really liked the backbone infrastructure in these businesses. 20 years ago we started doing it for institutional clients. at that time, we would list -- nobody would invest with us. so, it is quite, it is great, that this has become...
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Mar 2, 2024
03/24
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francine: younger.: i think younger people have a different expectation of their life and work and how those two things split together. -- fit together. like it or not, covid changed the working environment forever. and you either adapt or you die. i may have a certain opinion of how i want people to come into a space or business, but at the end of the day you have to work with where the culture is at. i'm not here to fight the culture. how do we work to maximize this? at the end of the day we want the same thing. francine: how do you spot a good entrepreneur on dragons den? howdy decide whether you are all in -- how do you decide whether you are all in? emma: i am so personality driven. a good idea is a good idea and white space is a white space. if i meet someone that does something to me, i feel it immediately. like, it is you. francine: like, fire in the belly? how would you describe it? emma: that mad passion. i could get excited about an origami company if someone comes to me like -- i'm that pers
francine: younger.: i think younger people have a different expectation of their life and work and how those two things split together. -- fit together. like it or not, covid changed the working environment forever. and you either adapt or you die. i may have a certain opinion of how i want people to come into a space or business, but at the end of the day you have to work with where the culture is at. i'm not here to fight the culture. how do we work to maximize this? at the end of the day we...
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Mar 16, 2024
03/24
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francine: now, also selling to men.n is the right time to, i guess, either grow or go into a slightly different branch? emma: that is so interesting, because in good american, the first time we ever thought of going into another category was because customers asked us to. and i think it is a smart way to think about your growth and your development in a business. you really have to listen. you cannot take that commentary, like just the good things. because your customers will tell you what you need to hear, and they will also tell you what you don't want to hear. it is like a big fat mirror. right? [laughter] that is one of the things with social media that is so exceptionally important in business right now, because it is a reflection of everything you do and a reflection of your customer base. and if you are listening carefully enough, the data will tell you things. and all you need to do is tune into that. when i think about category expansion, it really is in regards to or in relation to really what customers are as
francine: now, also selling to men.n is the right time to, i guess, either grow or go into a slightly different branch? emma: that is so interesting, because in good american, the first time we ever thought of going into another category was because customers asked us to. and i think it is a smart way to think about your growth and your development in a business. you really have to listen. you cannot take that commentary, like just the good things. because your customers will tell you what you...
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Mar 31, 2024
03/24
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francine: bruce, what is moderate risk?it sound easy, but actually, this is a know-how. you're also quite acquisitive. bruce: yeah. look, i would say, in the businesses that we are in, we have more information than most people about what we do. therefore, what you might think of as risky, to us, it's not risky, because we've been in these businesses for a long period of time. with the information -- we know what's getting shipped across the ocean in our containers. we know what's getting booked into the ports in different countries. we know what's traveling on the roads. we know how many people are going into a shopping mall. we know all of those things. that just informs us. we have, i would say, better information to base our decisions than most people. but we are always -- so we are trying to lower the risks by doing that. of course, you get investing. investing is tough. it's not easy. and, therefore, you are always taking some form of risk. francine: how do you choose what company to buy? bruce: you know, thoughtful an
francine: bruce, what is moderate risk?it sound easy, but actually, this is a know-how. you're also quite acquisitive. bruce: yeah. look, i would say, in the businesses that we are in, we have more information than most people about what we do. therefore, what you might think of as risky, to us, it's not risky, because we've been in these businesses for a long period of time. with the information -- we know what's getting shipped across the ocean in our containers. we know what's getting booked...
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Mar 17, 2024
03/24
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francine: so how do you hire? again, there is a war on talent, or there is a battle to get the very best. so, what do they want? robyn: they want -- so, it depends. i think that is the one size does not fit all thing. who doesn't want to be around really smart people? number one. who doesn't want to be around a place that values your input? who doesn't want to be in a place that doesn't seek to be better today than it was yesterday and better tomorrow than it is today? who doesn't want to be around a place that is actually interested in you as a person and interested in being capable of making you better? so, where do we go? we go broad, we go wide, we look for difference, we look for energy and excitement. that person who is able to get energized. francine: you don't always hear that from a big finance chief executive. robyn: ok. i am not apologizing. francine: is there a perception problem for finance? robyn: i don't think finance has not done as good a job as we might in explaining the value we bring to society
francine: so how do you hire? again, there is a war on talent, or there is a battle to get the very best. so, what do they want? robyn: they want -- so, it depends. i think that is the one size does not fit all thing. who doesn't want to be around really smart people? number one. who doesn't want to be around a place that values your input? who doesn't want to be in a place that doesn't seek to be better today than it was yesterday and better tomorrow than it is today? who doesn't want to be...
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Mar 2, 2024
03/24
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francine: yeah.and every every year since i've been in office, or even before, they have said to me, "you ain't seen nothing yet." so we don't know what is next. but i don't spend too much time thinking about him. francine: in terms of ai or technology? nancy: ai is a double edged sword, and that's in my district too in san francisco, and the people i know who are working in that, who care about our country, care about our country know that it's a double edged sword, that we need guardrails, we need standards and the rest so that this double edged sword does not harm, doesn't do harm, but instead does good. and it can do some good. but right now we have a strike in the creativity industry. writers and actors and the rest. and there has to be respect for the creativity that they have. and ai has an impact, could have an impact on that. and we have to recognize that. write laws to respect that. in our constitution we have respect for copyright. francine: but do we need to regulate ai? should we regulat
francine: yeah.and every every year since i've been in office, or even before, they have said to me, "you ain't seen nothing yet." so we don't know what is next. but i don't spend too much time thinking about him. francine: in terms of ai or technology? nancy: ai is a double edged sword, and that's in my district too in san francisco, and the people i know who are working in that, who care about our country, care about our country know that it's a double edged sword, that we need...
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Mar 24, 2024
03/24
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[laughter] francine: were you? emma: yeah, honestly, i mean, it is one of those things that, on paper, good american has been such a massive success. if you wind back to day one, people were like, "$1 million on day one!" 9:00, i was a hero. by 11:00, i had no stock left and everyone was like, "you have no idea what you are doing, do you?" i was like, actually, i do not. in a way, that was my first lesson in what it means to be excellent from the customer experience point of view. because i just started emailing people. i was like, how long do i think people will wait? turns out not that long. certainly not as long as it was going to take me to make stock. [laughter] francine: who were you talking to? sellers or customers? emma: customers -- or both. can you help me get more fabric? will you wait eight weeks for a pair of jeans? somewhere in that, it all worked kind of worked out. i think, again, what people respond to is brands that have authenticity, and there is a level of honesty that is needed. i went and said
[laughter] francine: were you? emma: yeah, honestly, i mean, it is one of those things that, on paper, good american has been such a massive success. if you wind back to day one, people were like, "$1 million on day one!" 9:00, i was a hero. by 11:00, i had no stock left and everyone was like, "you have no idea what you are doing, do you?" i was like, actually, i do not. in a way, that was my first lesson in what it means to be excellent from the customer experience point of...
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Mar 17, 2024
03/24
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francine: younger? emma: younger people have a different expectation of their life and their work and how those things fit together, and like it or not, covid changed the working environment forever. you either adapt or you die. i might have a certain opinion about how i want people to come into a space, into a business, but at the end of the day you got to work with for the culture is at and i am not here to fight the culture. it is what it is, how do we work to maximize this? at the end of the day we all want the same thing. francine: how do you spot a good entrepreneur? how do you decide whether you are all in? emma: i am so personality-driven. a good idea is a good idea but if i meet someone that just does something to me, i feel it immediately. francine: fire in the valley, how would you describe it? francine: sometimes that mad passion. i can get excited about an origami company. i'm that person and i respond to that because that's who i am but i also believe respond to the fact that sometimes see
francine: younger? emma: younger people have a different expectation of their life and their work and how those things fit together, and like it or not, covid changed the working environment forever. you either adapt or you die. i might have a certain opinion about how i want people to come into a space, into a business, but at the end of the day you got to work with for the culture is at and i am not here to fight the culture. it is what it is, how do we work to maximize this? at the end of...
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Mar 28, 2024
03/24
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francine: does it change how you lead man group? >> it changes because of the way we position the organization. we are an organization that is diverse, our capabilities are diverse. we have different engines doing different things, be it on the con side or the fundamental discretionary side. we have products in the macro space, equity space, we are long earning and we are long short. what we are seeing is our clients are interested in more customized solutions. in solutions that answer the problem they've got why the challenge they have rather then, here's a project -- product, by that or nothing else. change is in a way you deliver an organization, changes the fact that the value you are driving towards is not just about, here's a product, but it's a, here's a solution. francine: what is it mean on how you are focusing your energy? i guess hiring is also something that you need to think of carefully. >> we don't make widgets. what we have are highly talented individuals who are focused on being the very best they can be in the work
francine: does it change how you lead man group? >> it changes because of the way we position the organization. we are an organization that is diverse, our capabilities are diverse. we have different engines doing different things, be it on the con side or the fundamental discretionary side. we have products in the macro space, equity space, we are long earning and we are long short. what we are seeing is our clients are interested in more customized solutions. in solutions that answer...
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Mar 22, 2024
03/24
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i am francine in london.opes for a soft landing after switzerland fires the starting gun on rate cuts. double trouble for apple. the iphone maker loses value. will european regulators prepare a probe? investors on the pitch. cross assets, this relentless rally comes from optimism that the fed will engineer a soft landing and bolster corporate earnings. risk-taking drove the s&p to its 20th record and euro stoxx 50 futures are down. nasdaq unchanged. this u.s. data ported the way forward an argument that the fed may backtrack one day after they indicated re-cuts this year. what does this mean for the dollar and what are the biggest stories? how the dollar has been behaving since the start of the year is a big story. it is almost like a marathon, u.s. two-year yield is up. you can see 1244 and little change in the yen. trading around 151 or 152. further increases this year and you can see one of the biggest stories. let's see how asian markets are faring with avril. avril: interesting picture in the asian pacif
i am francine in london.opes for a soft landing after switzerland fires the starting gun on rate cuts. double trouble for apple. the iphone maker loses value. will european regulators prepare a probe? investors on the pitch. cross assets, this relentless rally comes from optimism that the fed will engineer a soft landing and bolster corporate earnings. risk-taking drove the s&p to its 20th record and euro stoxx 50 futures are down. nasdaq unchanged. this u.s. data ported the way forward an...