a managing director at goldman sachs and isui now at kkr, at the big private equity firm. finance remains at one of the areas that is really one of the hardest for women. she did talk about that one of the things she finds herself doing much of her time is just encouraging young women, and telling them it's okay. recognize that you are amazing. recognize you can do good work. and don't let anybody stop s you. it may well be that you are right that there's a higher bar for women. >> define genius from your perspective because we are having a hard time grappling with the definition as it relates to your books and your perspective and in the broader women's perspective.

your head of global macro and asset allocation and you run kkr's balance sheet.e thought about the implications of this pandemic. the stock market is telling us recovery will the be almost as powerful and swift as the collapse. what do you think? do we have you? it appears we have just lost henry. these technical difficulties largely a result of having to work from home. i am not at home but you are in so many of our colleagues. headed back to you for the moment and i hope we can reach henry again and get back to that conversation. alix: no problem. this happens a lot. thanks for rolling with patients. you are seeing risk on in the equity market. i want to highlight individual names. gilead is one of the out performers. part of that is because one of their drugs may be working to treat the coronavirus. you are taking a look at boeing, that stock is popping. they might plan to reopen some of their plants as well. you're also looking at procter & gamble, up .8%. if we take a quick check in on earnings, they are looking at full-year organic sales of 4% to 5% and the

a leveraged buyout, and you were advised by one of the leaders of the industry, george roberts from kkrand so you had a lot of leverage. in those days, leverage was higher than it is today. so, you had a lot of your net worth tied up there, and you also had a lot of your debt ahead of you. charles: i had all of my net worth there, and then some. david: so you decided to try to deleverage quickly. the same year you bought it back, you decided to go public. charles: i did. david: that was pretty courageous. did anybody tell you that was not a good idea? charles: a lot of people. i said i needed to deleverage as quickly as i possibly could. and fortunately, we did. shortly after going public, we had the crash of 1987. that was another complication. david: did that affect your business at all? charles: of course it did. our stock dropped from 15, the ipo price, down to 6. david: so your net worth went down a little bit. [laughter] charles: yeah, more than half. that did not bother me. because we still had the company, we still had the opportunity, and having been a student of stock market c

[laughter] you left out one of my post government positions i am a partner at kkr one of the biggest global investment firm so i also would be sitting at home tonight. congratulations on a great book but i want to say from what you did in government which is happen to coincide with the surge of iraq and he reminded me as we were backstage of what he did and anna. that is almost entirely overlooked by historians to end any historyy about washington when he leaves the white house to give very little coverage and i too was very intrigued to read the book before it was published and with intrigue and all the other developments that took place during that period but the previous book that was e-lee the robert and then it has something to do with your speechwriting. >> first of all thank you general patraeus for being here at the home of george washington the part of american cincinnatus i can think of nowhere fitting to be here tonight than with you. thank you for being here but thee previous book is called the man who would not beat washington that the next book should be the man who was

mcveigh of tkr -- kkr. henry mcvey.loomberg. ♪ ♪ you are watching bloomberg "surveillance." shares of boeing are surging as the beleaguered aircraft maker is making plans to restart jet making in seattle, ending a shutdown last month from the coronavirus pandemic. over 30,000 workers will return. alarmom is sounding the on disruption, telling customers they need to place orders for parts at least six months ahead of time. that is a surprisingly long leadtime. end with billionaire sheldon suspending -- for the las vegas sands all the industry is shut down. almostar, he collected half of the $4.2 billion payout. the sands is looking to buy existing resorts from others. that is your bloomberg business flash. francine: earlier on i spoke to luke ellis, the chief executive officer of the largest hedge fund and we spoke about flows and how many clients wanted to redeem just because they had problems in terms of cash flows. that thereld imagine will be a lot of churn in portfolios over the rest of the year, so you are likely t

kkr capitalizing on deeply discounted prices and wide spreads.berg business flash. francine: thank you so much. let's look at the price of oil, it has risen to 2002 levels. expects the oil bust to overwhelm oil capacity. joining us to talk about the is thethat moved markets executive director of the international energy agency. given what you say about storage -- demand >> in the last few days there were -- one from the opec-plus countries and the second was the g20 meeting organized by the chair of saudi arabia. they brought some good news to the markets. badly,is falling down so if they could only limit the damage. global oilhis year demand will decline by 9 million barrels a day and in the month of april -- --s is a huge a few minutes ago you showed the imf -- that we areean erase the race -- 2019 economic growth. in terms of oil demand we are raising in the entire decade, the last 10 years of oil demand flow. we are erasing that with one year. there was a disproportionate effect on the oil sector. does it meanwhat for further production cuts?

[laughter] the most important position is that i am up partner of the kkr the biggest global investment firm so i also would be sitting at home calculating my losses. [laughter] congratulations jonathan on a great book. it will be a delightful evening tonight but i want to start by saying thanks for what you did when you were in government which just happened to coincide with the surge in iraq. the speechwriter for president bush during that time as he reminded me some of those speeches he did for the president. [laughter] but this is a terrific book. and with the. that is almost entirely overlooked by historians typically any history of washington when he leaves the white house gets very little coverage to what follows and i also was very intrigued to read the book before it was published to find out how much it did take place with all of the other developments that took place during that period but first the previous book what was it that made you turn to george washington? did have to do with your speech writing in the failures of the president? >> first of all thank you so much gene

excuse me, getting their pay cut who are working in hospital systems owned by private equity giants like kkryou've got health care professionals who are suffering. yet those private equity giants who are supposed to be in a position where they take all sorts of risk and when you take big risk you can get lots of up side but you risk facing great down side. and right now, the government is stepping in and curbing that downside. we're having capitalism on the way up. and self-imposed socialism on the way down. >> you're absolutely right, stephanie. the hunger games on the way up and on the way down a lot of call signs by ceos that we're in this world and a hallmark channel-like socialism. we need to decide if we're kaptsist meaning if you take incredible risk there's incredible up side but if you can use 96% to buy back stock, thereby inflating your compensation and the compensation of the ceo and the directors and no cash when a crisis hits, should you be, in fact, be allowed to fail? and what private equity and ceos are trying to convince us of rig right now. when your company declares chapt

business in the book, her name is monica mandel he she was a managing director at goldman sachs and now at kkrig private equity firm. she did talk about one of the things she finds herself doing much of her time is encouraging young women and telling them it's okay, recognize your amazing. recognize you can do good work and don't let anyone stop you. >>. >> define genius from your perspective. [inaudible question] >> i think the point is that junior is Ãbgenius is a lot wider than we understood before. my point here is extra new woman doing extraordinary things. because we define as a geniuses always been just by who gets to say who is a genus. >> we will take a couple here. >> i bet there are and one of the things that are particularly delightful for me as when i was finishing the book and word of the book started getting out. i hope by using these women as examples we all start doing if the book inspires that feeling that's exactly what i hope it will do. >>. [applause] >> as the non-author i would only say what i found very interesting about this is that if you look in the book there's a lo

she was a managing director at goldman sachs and is now at kkr, the big private equity firm.nance remains one of the areas of really one of the hardest for women. she did talk about one of the think shef finds herself doing much of her time is just encouraging young woman and telling them it is okay. recognize you are amazing. recognize you can do good work. don't let anybody stop you. it may well be that you are right that infield that are very high-paying, there is even a higher bar for women. [inaudible] >> we are having a hard time cooperating with the definition as it relates to your book in your perspective and in the broader perspective. >> i think it is a lot widernk than we have understood before. my definition here was simply extraordinary women doing extraordinary things. people that have had great breakthroughs and done something extraordinary and interesting. because who we defined as a genius saying who is a genius, i got to say that the women in this book are geniuses. i don't think anyone would disagree with me. >> one of the things that was particularly delig

and the book her name is monica mandel, she was a managing director at goldman sachs and isui now at kkrt the big private equity firm. finance remains at one of the areas that is really one of the hardest for women. she did talk about that one of the things she finds herself doing much of her time is just encouraging young women, and telling them it's okay. recognize that you are amazing. recognize you can do good work. and don't let anybody stop s you. it may well be that you are right that there's a higher bar for women. >> define genius from your perspective because we are having a hard time grappling with the definition as it relates to your books and your perspective and in the broader women's perspective. >> guest: i think the point is that genius is a lot whiter than we have understood before. my definition here was simply extraordinary women doing extraordinary things. people who have had great breakthroughs in some field and done something extraordinary and interesting. because who would define as a genius is just could -- just to say who is a genius who is to say these women an

billion in distressed credit markets last month, almost three times as much as private equity giant kkr g7 versus em currencies. we are going to get to it and look at what volatility is telling us in today's trader's take. this is bloomberg. ♪ alix: time now for trader's take. joining me is bloomberg intelligence. what if you got today -- joining me is damian sassower of bloomberg intelligence. what have you got today? em implieddamian: currency volatility is not declining at the same place we are seeing for g7 nations. central banks across em are cutting rates aggressively, turning real rates into negative territory, and this is keeping fx implied vol elevated. alix: so how do you trade something like that? damian: what you do is basically say, we are not going to trade it because the uncertainty is too high. you must remember, the jp morgan em currency index is down 13% year to date. that is 30% over the last five years, and average per animal return of -6.5%. you must see volatility levels normalize to be able to convert dollars into local emerging-market currencies. but at this stag

kkr establishing a $50 million global relief fund to support medical workers and vulnerable communitiespple will make sure we have decent music and it's created a $50 million advance fund to help independent labels and distributors weather the downturn. >> snowboard maker burton donating half a million respirator masks to hospitals across the northeast and a number of celebrities stepping up in their own ways tyler perry, did you see this? surprising elderly shoppers in atlanta and new orleans by paying for their groceries and my personal favorite, bobble heads of dr. anthony fauci who has become a national celebrity since the pandemic have raised $100,000 for medical supplies in less than a week also matthew mcconaughey hosting a virtual bingo game for residents at a texas senior center watch this >> we've got an i-24 i-24 oh >> richard is waving the hammer up high! >> i love that >> that's very good. the virtual thing, but nothing's better than a dr. fauci bobblehead after a dr. fauci doughnut, where were you on that one, will fred >> i didn't see that one, but separately, you saw in