expanded the mole skin franchise was taken over i think burger king those are now in the hands of private equity so you know but most for the most part they extract the equity they extract and they leave the company to collapse all the jobs go missing is part of the repay shows all sure hyper squat unquote capitalist cancer that plagues america yeah but remember we discussed in the last episode the fact that the central banks and our governments continuously give these sort of guys all the capital of the free capital in order to repair the economy when what they end up doing over and over and over and over and over and over is this they just extract equity take hundreds of millions of dollars for themselves by another you know penthouse on park avenue and another place in the hamptons and another yacht perhaps they park over in larchmont or merrimack or somewhere like that and that's what they do that's what they they don't build anything they don't add jobs they don't add value in fact in this case thirty over thirty thousand employees of the company gone no pension no nothing they get nothing

private equity and hedge funds oh oh yeah well as if said many times on this show pensions fon are where risk goes to die in other words are wall street a risk they make bad bets they put a lot of these bad trades into what's called an error account i haven't mentioned the error account in a while but every brokerage firm out the error account where you make a bad trade is something goes wrong you stick it in this error account where it's not accounted for on any financial statements officially and then eventually some pension fund somewhere and in getting that trade and they backdated and they stick it in with a lot of other garbage and the pension fund managers are typically kind of underpaid low level people that don't really know much and never robber citroen famously was the manager and i think was orange county that was a very famous case of somebody who was and complete it in managing the shoot fund that that's generally the case in the industry they purposefully put people who are morons into these jobs so they can easily steal from these pension accounts but part of the problem

expanded the mole skin franchise was taken over i think burger king was a no in the hands of private equity so you know but most for the most part they extract the equity they extract cash and they leave the company to collapse all the jobs go missing is part of the repay shows old hyper squat unquote capitalist cancer that plagues america yeah but remember we discussed in the last episode the fact that the central banks and our governments continuously give these sort of guys all the capital of the free capital in order to repair the economy when what they end up doing over and over and over and over and over and over is this they just extract equity take hundreds of millions of dollars for themselves by another you know penthouse on park avenue and another place in the hamptons and another yacht perhaps they park over in larchmont or mamaroneck or somewhere like that and that's what they do that's what they they don't build anything they don't add jobs they don't add value in fact in this case thirty over thirty thousand employees of the company gone no pension no nothing they get nothing

economy is private equity is its k.k. are is blackstone is all those people just extracting equity and leaving a hollow shell what we're seeing here is probably a better model i think let's discuss it nobody discusses it on the news in america but the purpose of tariffs is not to make products more expensive for consumers though that can be a consequence the purpose is to motivate manufacturers to invest and produce more in the us thus changing the equation for offshoring that corporate america has pursued with relentless passion for decades this aspect of the tariffs is going to last in much like the hysteria and worse nancy pelosi on this earth maxine waters on this where are the left democratic leaders on this you know why are they elected in far left socialist democrats now you know because they just refuse to look at the basic numbers and obviously putting high paying jobs back into america increasing people's wages they can still buy the same stuff but they have the dignity of not being heroin addicts because a frick

dispersion before the shakeup begins, we will have to see some compression of that -- between private equity returns and the equity market returns. is that something that the lp's are prepared for? how does the industry whether that? alison: i have been in industry since the 1980's, and in the early days of private equity we is to talk about 1000 basis points over public market industries. there was an error that we got private equity was delivering. and now we talk about a couple hundred basis points on average above market risk adjusted public industries. but again, i do not believe that this is about lower returns, i really believe it is about the dispersion, and who are those asset managers who will outperform. and that is what our clients are focused on. and the lp's have given them to focus on that. they are also doing: investments. but they're asking them to be focused on institutionalizing the businesses and data analytics and all the things we talked about. ed: so if a group was going to outperform, there has to be a group that would fail, so who is that group and how should we thin

the fancy you know private equity or hedge fund is promising we could probably get you returns of ten percent a year so that because of the hollowing out of the previous hedge fund guy you know they need that ten percent they need to show their members that they're going to get ten percent the index fund will only guarantee basically the market you'll do as well as the market which might be four percent right i get the point that the sort of private fund it's ok to go bankrupt however as you point out does and bankrupting people in the sense that they impose austerity they impose they raise taxes they force people they can't afford health to give health care to people people end up on the street destitute and dead. right so it's just a mixed the difference rich in crime on the street and crime on wall street is that a criminal you know knocks over a liquor store is doing so in real time they shoot a guy there's still the money takes twenty minutes with wall street they are patient bill still your money over years bernie madoff stole money for years and years and years this is the new

the private equity world was small. public capital markets are shrinking, which are the markets that most viewers invest in. the private market, which is generally only available to the wealthy, they continue to grow this is why we're seeing 10, 15 private equity executives get these paychecks. >> i think there's about 4,000 publicly traded stocks in the united states. >> there were over 8,000 20 years ago. you're looking at double the number of companies owned -- or have some -- the private equity world has some piece of about 8,000 companies. >> this market that was fairly small 20 years ago continues to grow but is inaccessible to most people >> unless you invest in the publicly traded private equity companies, which have not done well overall and you're not getting the same kind of upside as you would if you invest in a portfolio. last iyear's average return was about 16%. >> acronym alert, irr, invest the rate of return >>> blackstone group's jonathan gray weighing in on a possible trade fight between the u.s. and c

the fancy you know private equity or hedge fund is promising we could probably get you returns of ten percent a year so that because of the hollowing out of the previous hedge fund guy you know they need that ten percent they need to show their members that they're going to get ten percent the index fund will only guarantee basically the market you'll do as well as the market which might be four percent right i get the point that the song a private fund it's ok to go bankrupt however as you point out does and bankrupting people in the sense that they impose austerity they impose they raise taxes they force people they can't afford health to give health care to people people end up on the street destitute and dead. right so it's just a mixed the difference rich in crime on the street and crime on wall street is that a criminal you know knocks over a liquor store is doing so in real time they shoot a guy there's still the money it takes twenty minutes with wall street they are patient bill still your money over yours bernie madoff stole money for years and years and years yes you see kn

private equity and hedge funds oh oh yeah well as if said many times on this show pensions fon are where risk goes to die in other words eye wall street to risk they make bad bets they put a lot of these bad trades into what's called an error account i haven't mentioned the error account in a while but every brokerage firm out the error account where you make a bad trade you something goes wrong you stick it in this error account where it's not accounted for on any financial statements officially and then eventually some pension fund somewhere and in getting that trade and they backdated and they stick it in with a lot of other garbage and the pension fund managers are typically kind of underpaid low level people that don't really know much and i'm a robber citroen famously was the manager and i think was orange county and it was a very famous case of somebody who was and complete idiot managing the shoot fund that's generally the case in the industry they purposefully put people who are morons into these jobs so they can easily steal from these patients accounts but part of the problem

that's the amount of private equity of the whole industry's dry powder or the capital it has raised,ot yet deployed you can see that number has just grown bigger and bigger on record fund-raising levels and lack of opportunities. carlyle's david rubenstein noted this in yesterday's delivering alpha. he said it is the greatest time they ever had to raise money >> there's more money under management than we ever had. deals are getting done at higher prices than in 2006 or 2007. because investors are willing to accept lower rates of return it works. investors used to want to go into private equity for 20% per annum in this environment they're happy with 13% 14%, 15%. you can still pay higher prices, get those returns and the industry is doing quite well >> jim chanos said that he thought all the dry powder out there is causing private equity to do subpar deals chanos was speaking in the context of his short in envision healthcare which is getting acquired by kkr. >> what's so interesting is we're seeing private equity enter more and more into the space of odd ball kind of deals like thi

the fancy you know private equity or hedge fund is promising we could probably get you returns of ten percent a year so that because of the hollowing out of the previous hedge fund guy you know they need that ten percent they need to show their members that they're going to get ten percent the index fund will only guarantee basically the market you'll do as well as the market which might be four percent right i get the point that the song a private fund so it can't go bankrupt however as you point out it does and bankrupting people in the sense that they impose austerity they impose they raise taxes they force people they can't afford health to give health care to people people end up on the street destitute and dead right so it's just a mixed the difference rich in crime on the street and crime on wall street is that a criminal you know knocks over a liquor store is doing so in real time they shoot a guy there's still the money takes twenty minutes with wall street they are patient bill still your money over yours bernie madoff stole money for years and years and years yes you see kn

michael: direct private equity investments, you are talking about an individual deal.is extremely topical. it also can be problematic. every direct private equity deal feels great with the time of investment but chances are you are seeing a deal and it does not matter how wealthy you are or plug-in you are, there are firms out there scouring for deals and they have a better idea of the competitive landscape send deal structure than you do as an individual or family office, so we are suspect on the future success of many of those deals. but nevertheless, that is topical. simone: are you cautioning investors to think elsewhere and look at managers unless they have some specific insight? michael: we co-invest with a small number of managers. we find domain experts in the sectors and invest in regions and we have had success doing that. vonnie: it depends on each family on their goals, but can you give us an average? how much are you helping families invest with good hedge fund managers? how much are you helping them with private equity, even if it is flawed for these kind

the market is not just private equity, it all these emerging buyers.cussed it at point in the past, our group the goldman changed from being a sponsor group covering the private equity, because we cover all of the emerging buyer , and it has expanded our footprint. >> does being more creative necessarily mean being more risky? >> it doesn't necessarily mean being more risky. my view is that the future of private equity is not about lower returns. it is about this person of those -- dispersing of those returns. they are thinking about innovation, their culture, their people, and they are building -- and their building institutions. i would say it is more creative, not more risky. scarlet: does allison of goldman sachs speaking with that hammond. it's time for the bloomberg business flash. bigs on falling short of profit and production levels in the second quarter -- bigs on -- exxon is falling short of profit and reduction levels in the second quarter. is. retailer, brookstone, preparing to close most of its stores as a bankruptcy filing. bloomberg lear

i thought he was a very good private equity person.aid the highest calling of mankind is private equity, why would you want to do something else he wanted to do something in public policy. he testified the other day that right now he doesn't see any reason not to continue the program that they have, which is basically probably have interest rates go up two more times this year, 25 basis points apiece, and probably get interest rates up to 2.4% by next year so that if a slowdown does come, they are lower interest rates right now i think he feels the economy is doing reasonably well, and i do too we don't see any evidence of a slowdown we have 275 companies that carlyle owns around the world. we get every quarter their numbers and correlate with what we see gdp tends to be and we don't see any slowdown right now. it will happen at some point but this year and next year, we don't see any signs of a slowdown. >> neither does the market if you look at stocks there's always been a premium for buying control of a company. i've heard from a lo

i think it is the backdrop of private equity business, we are in a tenure expansion and private equitydoing well and for the last 4.5 years we have seen a lot of pressure, showing better signs of recovery for investments that were made in the 2015-2017 vintages, but volatility is an extreme outlier compared to what was exhibited for these investors. on the one hand, concerns around volatility. there is also discussion, especially around, frankly investors globally, around the carbonization and what the long-term prospects for energy are. on the one hand coming of those concerns. on the other hand you have investors that understand that this is one of the largest industries in the world, one of the most capital intensive in the world, and the ongoing demand by population growth and gdp growth for reliable energy requires constant investment and friendly the industry and sector is quite out of favor at this point, creating a number of opportunities. jason: what are the reasons -- one of the reasons it draws so many headlines is trade, tariffs, constantly dominating the conversations. i k

firms private equity there plowed into retail during the leveraged bio boom before the financial crisis loaded in the them up with debt and washed them collapse and what i have come to call the bricks and mortar meltdown toys r us is just one of them p. e. firms kohlberg kravis and roberts vornado realty trust and bain capital acquired the publicly traded shares of tories are asked by a six point six billion dollar leveraged bio in two thousand and five they.

any air and this is an undisputed fact occasionally hedged on our private equity final opera for the market for a year or two but over five years ten years they never reform the market and a pension fund that's not invested in a passive index fund like a vanguard no fee fund is going to underperform the market and the.

but if anybody should be embarrassed it should be the people who work for the private equity firm that owns mariner finance a new york based firm called warburg. would warburg pincus actually does this control an eleven point two billion dollar private equity fund that manages baron or finance all under the leadership of the firm president. obama's former treasury secretary timothy geitner. the guy who bailed out the banks a decade ago when the housing bubble burst but you don't want to get it. when you need someone to the poor over twice you need someone with experience. geithner became president of warburg pincus in two thousand and thirteen just after they bought mariner finance for two hundred thirty four million dollars back then there were only fifty seven mariner finance branches in seven states to. hey it now operates more than four hundred fifty branches in twenty two states while only white and less we fight against a capitalist system that exploits the poor while inflating the rich. then maybe one day and that of a person who are still our credit score will be the same numbe

warburg pincus actually does this controlled and eleven point two billion dollar private equity fund that manages a barrier finance all under the leadership of firm president timothy geithner obama's former treasury secretary timothy geithner. the guy who bailed out the banks a decade ago when the housing bubble burst but you don't want to get it. when you need some. and of the poor over twice you know someone with experience. that your became president of warburg pincus in two thousand and thirteen just after they bought mariner finance for two hundred thirty four million dollars back then there were only fifty seven mariner finance branches in seven states today it now operates more than four hundred fifty branches in twenty two states while only widen unless we fight against a capitalist system that exploits the poor while inflating the rich. then maybe one day in stead of a person who are still our credit score will be the same number as this atari game system. reporting from outside america finance natalie mcgill that it's. your headline from the future in one week you'll read t

economy is private equity is its k.k. are is blackstone is all those people just extracting equity and leaving a hollow shell what we're seeing here is probably a better model i think let's discuss it nobody discusses it on the news in america but the purpose of tariffs is not to make products more expensive for consumers though that can be a consequence the purpose is to motivate manufacturers to invest and produce more in the us thus changing the equation for offshoring that corporate america has pursued with relentless passion for decades this aspect of the tariffs is going to last in much like the hysteria and worse nancy pelosi on this earth maxine waters on this where are the left democratic leaders on this you know why are they electing far left socialist democrats now you know because they just refuse to look at the basic numbers and obviously put in high paying jobs back into america increasing people's wages they can still buy the same stuff but they have the dignity of not being heroin addicts because a frickin

private equity is one of the last frontiers for etf.there a way to use the exchange rate to get into liquid high-yielding assets? the collaborative funds gives us his take. wear

hundred a week so you have two hundred more in your pocket this week they can say yeah go with the private equity guys like people are stupid you know that movie that came out about the theft at one on during the subprime crisis and it documented the shortage of short right so here's like it's a documentary practically bunch of bankers got together and rob americans blind for billions of dollars and now people know me i cover finance right they come up to me the question asked me every single time someone comes up to me goes hey masher you saw the movie the big short right. the message is true. like with a conspiratorial true yes true you're being robbed blind every day what you can do about it well nevertheless data shows that public pension funds are going even more and more into it i would do have to say the hedge funds and the private equity these alternative investments did do better only during one period which was the financial crisis two thousand and eight two thousand and nine because they have more shorts they can do the big shorts rather than the index fund so they do do better and a v

david: has anybody said to you a private equity show would be good?> [laughter] >> i have seen you perform at the kennedy center for many years. you have potential. david: sometime the kennedy center honors -- the chairman makes a presentation, but on tv, it only comes up for like five seconds. have you thought about broadcasting the entire 25 minutes? >> your lucky we put on -- you fiveucky we put on the second. >> [applause] >>'s moment of truth is brought to you by wells fargo technology banking. banking. david: is there something in your life you haven't achieved that he would like to achieve? richard: we have spent 40 years working on a space program. it has been tough. space is tough. it is rocket science. i think we are on the verge of finally fulfilling that dream. before the end of the year, i virgin be sitting in a spaceship going to space. david: you have about 2000 people or more that have signed up. are they still ready to go? richard: actually signed up and paid up, about 800. david: what does it cost to pay up? richard: about $250,000.

a lot of democrats in private equity.omehow they got off without having to pay anymore even though their system of taxation is -- >> there are republicans in private equity too. but that is good for republicans. >> once he gave a tax break to the people that actually pay taxes. that when you have 48% of the country paying absolutely zero in federal tax, you can't give them a tax break, kevin. >> tax relief expires. while the corporate tax relief as you said at outset, rightly so. doesn't expire. trish: okay. so you guys have a chance, i got to leave it there. but they have a chance, gina to change that they will present tax cuts 2.0. we can extend these tax cuts and make them permanent. so i don't know how they -- >> they should have been permanent in the first place. they should have been permanent in the first place. >> if democrats are smart they won't make same mistakes of past. they will rise up and support the president on passage for the people. trish: great to see you guys. >> thanks, trish. trish: take gina's adv

sara: we are seeing a big trend with private equity. it gives them an extra edge. as potential synergies to the deal. we're seeing have it equity funds get creative, bringing institutional investors, their peers, and strategic's. matt: young china earnings missed estimates. does that make this a better time to buy? obviously when there's love in the streets it's a better deal. sarah: they don't want to be seen as ambulance chasers but they are running the ruler over a number of listed companies at the moment and waiting for share prices to drop little bit. to then go and sweep in and buy at a lower share price. is not just young china -- yum china. they are looking at a list of businesses across the board that might be taking a hit because that's when they can come in and grow these undervalued businesses. matt: very cool stuff. we want to talk about the vp deal? sarah: let's do it. matt: tell me about it. it was a big deal. sarah: is largest deal they've done since 1999. it gives access to the premium basin, which is basically west texas and new mexico, which is th

broadcast booth duties tell us about the state of private equity right now do you see opportunitiess of the business world on the private equity size. >> i appreciate that i've been in private equity longer than i played since 2000 and i played 18 years in the professional football and you know, only in america can i surround myself with really smart guys and now $4 billion private equity firm. really attacking the market in an old school way. we look for partnership. that's where there is a vein -- private equity is a science project for many years when you have the science project is leaves the human beings as a secondary fact we tried to introduce in artistis approach to partnership and holistic approach to the transaction. i think there is a real measurement up about -- i hear other firms talking about that now. it's more soft things that you hear about but people want to know about the how the company will be handled, how the not just the transaction but the people, the legacy, all those things that kind of an old school way. that's how we attack to do more and more with all th

a global private equity fund is getting raised after 18 billion last fall.rned that the private equity firm is to seek more than $20 billion to market later this year. firms are packing a record $1 trillion in dry powder. a new york-based carrier is jets 45 60 eight to 20 $.4 billion. -- deal provides jetblue $5.4 billion. it ends jetblue's search to replace their previous aircraft which uses on short distance routes. a costa rica, $424 million, you can own 3300 acres of what national geographic is calling the most biologically intense place on earth. the property located on the villa includes a mile and a half of untouched beaches. the property was put together by an american who visited in 1988. it also has perfect weather all year long. julie: it depends on what you consider perfect. scarlet: if we pull together all of our resources [over talk] julie: if everyone contributes -- joe: and the trump administration is set to release details. the dollar-yen is getting hit on these breaking headlines. coming up. ♪ michael: that does it for "what'd you miss?" --

as the trade war comes ever more in focus, two private equity giants cultivated a combined $15 billion to put to work buying assets in asia. that doesn't count the $4 billion asia buyout fund that bane is reportedly raising. $62 billion flowed into private funds last year up 62% from 2016. many are asking why this is a trend now raising a multibill n multibillion-dollar fund usually takes years. these were initiated before the trade war was a real possibility and tensions with china could create regulatory and financial challenges for buyout funds at least in the short run. but sources behind some of the funds say they are still bullish on asia opportunistically. the region is growing and maturing. more and more family owned businesses are growing to scale and looking for more buyers like private equity. valuations over there can provide greater potential for gains and similar assets in the u.s. at least that is what some executives are thinking. some firms raising asia focus bio funds will be attending next week's delivering alpha conference where global opportunities is bound to be a

to take on the life and interviewing -- interviewer even though i have a day job of running a private equityirm. how do you define leadership? what makes someone to? -- ♪ david: george herbert walker bush asked you to help him in his campaign. james: i said, george, that's a great idea. except i don't know anything about politics. number two, i'm a democrat. david: he loses to carter. james: that's because you are in the white house advising. david: was it difficult to prepare reagan? james: the red light goes on, and he is perfect. david: your job was to go around and get the coalition put together. james: it was a textbook example of the way to fight a war. david: what was the reason you were so successful? james: lucky. >> will you fix your tie please? david: well, people wouldn't recognize me if my tie was fixed, but ok. i'll just leave it this way. all right. ♪ david: i don't consider myself a journalist. and nobody else would consider myself a journalist. i began to take on the life of being an interviewer even though i have a day job running a private equity firm. how do you define le

private equity is one of the last frontiers for etf.way to use the exchange rated raffle to get into high-yielding assets? morgan gives us his take.

i worked with the portfolio half, and then i would have hedge funds, private equity, funding only strategies. here, i'll just be concentrating in one area, which is private for me. >> and did you close on a house in the last couple days? >> i did. >> wow. east bay. >> yeah. planning on jogging out here. >> welcome. >> thank you, ron. >> welcome. >> and we do have our manager director of asset allocation, risk management and innovative solutions. an offer's been extended and accepted, and that person will start on august 27, and i look forward to introducing you to her at that time. that closes the c.i. reports. >> great. thank you. any questions? commissioner driscoll? >> i'll skip my questions, but on this monthly report, on your page 5, the sf sfers monthly net aet ises, some month -- assets, some months, we started putting the liability bar on there. i highly recommend we keep that there, but only looking at the assets and not looking on the right hand balance sheet, people are going to focus on that. it's much more useful information in terms of what we are trying to do here, so if you c

to take on the life of being an interviewer even though i have a day job of run a private equity firm. how do you find leadership? what is it that makes somebody teiick? since you have been the ceo, the stock has gone up roughly 330%, the market capitalization is up roughly 280%. another company that you compete with has a ceo that is female as is up about 250% since she became the ceo. [applause] david: do you think that women can run defense companies better than men or did you think they can run all companies better than men -- or do you think they can run all companies better than men? [laughter] >> how many women are out there clapping? [cheers] david, that it isn't all about me or the performance of our company, but what my team is unable to accomplish -- accomplish. david: when you walk into the meetings, do they give you a standing ovation? honest always keep me and make sure we are constantly creating. it's, what have you done for me lately. ofing the transition president of united states, donald trump sent out a tweet that your biggest product, the f-35 was too expensive. i

economy is private equity is its k.k. are is blackstone is all those people just extracting equity leaving a holiday l. what we're seeing here is probably a better model i think let's discuss that nobody discusses it on the news in america but the purpose of tariffs is not to make products more expensive for consumers though that can be a consequence the purpose is to motivate manufacturers to invest and produce more in the u.s. thus changing the equation for offshoring that corporate america has pursued with relentless passion for decades this aspect of the tariffs is going to last in much like the hysteria and worse nancy pelosi on this earth maxine waters on this where are the left democratic leaders on this you know why are they electing far left socialist democrats now you know because they just refuse to look at the basic numbers and obviously put a high paying jobs back into america increasing people's wages they can still buy the same stuff but they have the dignity of not being heroin addicts because a frickin lib

we have to be cautious with private equity backed deals, a private equity company coming public withey bought previously hopefully at a profit they produce plenty of winners but the truth is pe guys tend to have plenty of losers with duds they want to offload to the public give you a good one and a bad one. we don't want the bad one. there's been a bunch of bio-tech deals. a third of last quarter were bio-tech, very hit-or-miss which is par for the course for this industry. you have armo bio-sciences, public at 17 bucks and traded up to $28 and got acquired for 50 bucks a share! for every one like that there is another one that can lose its value in a day because of one bad clinical trial i always tell you to be selective when you speculate with these early stage drug developers and those nearing completion more than others. this is hard to get your arms around, head around, whatever, because of what's going on with trump and china. you know what, there have been a plethora of chinese ipos, even in the midst of the trade tensions with the people's republic, they're becoming public he

i began to take on the life of being an interviewer even though i have a day job of running a private equity firm. how do you define leadership? what is it that makes somebody tick? since you have been the ceo, the stock has gone up roughly 330%. the market capitalization is up roughly 280%. another company you compete with, general dynamics, has a female ceo as well, and their stock is up 250% since she became -- [applause] david: -- the ceo. do you think that women can run defense companies better than men, or they can run all companies better than men? [laughter] [applause] marillyn: i was looking at the audience -- how many women are out there clapping? [cheers and applause] marillyn: oh, i would say, david, it is a team sport. it isn't all about me on the performance of our company, but i am really proud of what our team has been able to accomplish over the last five years, six years. i'm in my sixth year as ceo. david: when you walk into shareholders' meetings, do they give you a standing ovation? they must be pretty happy. marillyn: we have some happy shareholders, yes, but they alway

i found consulting and private equity, very male dominated.nt to my wardrobe in the morning ifound it not very inspiring. if you are trying to put your best self together in a really important presentation going for promotion or an interview, you need to feel that inner confidence. do you feel with women there is an androgynous look they need to go for, like a power dressing outfit would help them get on in terms of career ladders and prospects? certainly not androgynous. i think a power look is about feeling empowered and confident. i think what's lovely is that over the past few years that has taken a far broader scope than it used to. the days of it being a traditional powers it has moved on. dresses are a terrific way to be feminine but smart. the universal theme that we have come cross with working women and being in touch with a lot of our customers is that there needs to feel very put together and very appropriate. if they get that right it could be really positive in terms of even impacting their career and how they are perceived at wo

private equity is one of the last frontiers for etf.way to get into high-yielding assets? morgan gives us

time once again to check in with stacey you know max you and i have been covering this story of private equity hollowing out some of the remaining businesses in america things like toys r us or all these retail outlets they hollow it out you know buy it with loaded debt load it up but that deal the pensions and run away and hold the industrialization of american financialization well you know there have been one group of people kind of immune from this and that as a state workers the federal employees certain firefighters policemen they have some guaranteed pensions guaranteed by the state so if it if the returns are not good enough of course the states just raise taxes and make sure that these guaranteed pensions are met well it turns out as looking pretty bad wall street managers have cost americans more than six hundred billion dollars over the past decade over the last decade fund managers who oversee the pensions of the nation's teachers firefighters police and other government workers have doubled down on an investment strategy that has cost us taxpayers at least six hundred billion doll

to equalize the trade picture and move toward a post china extraction model you know where as private equity extracts well using labor trials china's but extracting wealth using leverage trade shenanigans so this is just the reverse of that. as i hear it in some people's voices starts to make a little bit more sense that people don't understand that this guy actually understands more than people are giving him credit for. the arab spring began with high hopes. but with seventy years on it turned the middle east into an open war and what went so wrong and what is next for the region will i ask the former president of tunisia where the wave of revolt started. seven years after the people of the middle east took to the streets demanding transparency democracy and inclusion the region is a wash with notices and on a key and launch our popular movements just doomed to fail in the arab world has the arab spring become the ultimate antidote against revolutions or will another wave of uprisings and goes to region once again. the former president of tunisia welcome to the show it's really great to ha

i began to take on the life of being an interviewer even though i have a day job of running a private equityirm. how do you define leadership? what is it that makes somebody tick? ♪ david: since you have been the ceo, the stock has gone up roughly 330%. the market capitalization is up roughly 280%. another company you compete with, general dynamics, has a female ceo as well and their stock is up 250% since she became -- [applause] david: -- the ceo. you think that women can run defense companies better than men, or they can run all companies better than men? [laughter] [applause] marillyn: i was looking at the audience -- how many women are out there clapping? [cheers and applause] marillyn: oh, ok. i would say, david, it is a team sport. it isn't all about me on the performance of our company, but i am really proud of what our team has been able to accomplish over the last five years, six years. i'm in my sixth year as ceo. david: when you walk into shareholders' meetings, do they give you a standing ovation? they must be pretty happy. marillyn: we have some happy shareholders, yes, but the

i began to take on the life of being an interviewer even though i have a day job of running a private equityirm. how do you define leadership? what is it that makes somebody tick? ♪ david: since you have been the ceo, the stock has gone up roughly 330%. the market capitalization is up roughly 280%. another company you compete with, general dynamics, has a female ceo as well and their stock is up 250% since she became -- [applause] david: -- the ceo. you think that women can run defense companies better than men, or they can run all companies better than men? [laughter] [applause] marillyn: i was looking at the audience -- how many women are out there clapping? [cheers and applause] marillyn: oh, ok. i would say, david, it is a team sport. it isn't all about me on the performance of our company, but i am really proud of what our team has been able to accomplish over the last five years, six years. i'm in my sixth year as ceo. david: when you walk into shareholders' meetings, do they give you a standing ovation? they must be pretty happy. marillyn: we have some happy shareholders, yes, but the

the friends who financial lies everything and then gave themselves free loans for decades to do private equity deals to suck all the equity and cash out of the economy so now we're going to universal basic income but his spin on it is let's do it differently let's him in book you know burden these people with un forgivable loans at all and wind them in prison that's my take on that when i say yeah i don't know about the prison thing but certainly debtors prisons are coming back certainly they are destroying people with debt here's the guy who also engineered all of that not tarp but he engineered all of the fannie mae and freddie mac. hamp and the restructuring of these loans that actually didn't end up helping any american mortgage holder who was underwater but it helped all the banks so here and under obama to put this into context when you started this again you're saying that during this obama period when he came into town and he threw the keys to the the washington elite to get washington consensus and this is what they have come up with on top of that we have another situation where appa