bear stearns

Paul Posoli was at the forefront of energy trading through a 20 year career. In this episode, we follow Paul’s story has he joins Enron, builds a trading desk for a merchant and an investment bank, mapping through his career the peaks and valleys this sector has had. At the heart of that journey is Paul focus on people and talent. And it is that focus that led Paul to join Cristo Rey, a non-profit Jesuit high school educating students with and from limited economic resources, as President (https://www.cristoreynetwork.org). That journey led Paul to launch CareerSpring, a non-profit platform for connecting first generation college grads to employers unlocking systemic inequalities that enriches society and employers. HC Group is proud to be partners and you and your organization can help support CareerSpring (https://careerspring.org/). An inspirational story of leadership, resilience and profound empathy.

The third episode of Read the Bull is a no-holds-barred conversation with Lee Munson, author of "Rigged Money: Beating Wall Street at Its Own Game."  The book came out in 2011, but Stefan and Lee talk about how it's as relevant today as when it was published. Lee and Stefan talk about the evolution as well as the gimmick-ifcation of vehicles like ETFs, and how  many strategies that Wall Street sells distract investors from their goals.  Lee explains how Wall Street is really like one big craps table and why that's not necessarily a bad thing.  Today Lee is one of the top independent RIAs in the country and is a regular guest on CNBC and Fox Business among others. He tells Stefan how his 25-year career got started in the mid-1990s at the colorful brokerage firm, Prime Charter, which was a legitimate version of Stratton Oakmont.  Lee goes on and details a darker time at Bear Stearns and explains why he he left NYC after 9/11 for the serene Albuquerque scene.  After Lee's journey takes him out west, he decides to launch his independent firm, Portfolio LLC in 2008.  He then addresses the infamous 2001 New York Observer article that painted him as a swaggering stock broker of a bygone era.  The Observer article and a Business Insider piece that was published 10 years later led him to reflect and realize he had a good deal of perspective to offer readers. He uses the backdrop  of the Global Financial Crisis and leverages the ensuing anti-Wall Street sentiment to land a book deal, but is left high and dry by a writing partner and is stunned to learn that most investment advice books are ghostwritten.  He then flees to Earthships in Taos to write it and after a couple of months delivers a book that sets the record straight on Wall Street 

This is Lee Munson uncensored and listeners will hear his no-nonsense approach on to how to avoid the pitfalls of Wall Street.  Lee is a voracious reader and he ends the interview talking about his recommended reading list, and why he modeled his book after "The Money Game" by George Goodman, aka Adam Smith.

Go to ReadTheBull.com for more information.

THE GODFATHER: PART TRUMP

A-Block (1:46) SPECIAL COMMENT: Remember the baptism scene in "The Godfather"? Where Michael has everybody whacked? Metaphorically, that was Trump's Wednesday - only he was ALL 10 GUYS WHO GOT WHACKED. His Appeals Court appointees let the DOJ resume its investigation, declare declassification irrelevant (4:02) Trump replies to Spokesmodel Sean Hannity that he could declassify documents just "by thinking about it" - BLINK ONE FOR CLASSIFIED, BLINK TWO FOR DECLASSIFIED. But the judges just said declassification is a red herring. (5:30) NY AG James' lawsuit may hurt Trump more personally because he's accused of not being THAT rich, and needing to be THAT rich is perhaps Trump's only human emotion (7:30) Two other court cases for Trump (7:52) and maybe one coming for Ron DeSantis (8:40) And Trump Endorsee J.R. Majewski grabs what used to be the Third Rail of Politics: Lying about your military service. He didn't fight in Afghanistan; he loaded cargo in Qatar. We'll hear him recount his ordeal in Afghanistan that he didn't have.

B-Block (14:31) EVERY DOG HAS ITS DAY: Koley (15:34) POSTSCRIPTS TO THE NEWS: The Electoral Count Act, McCarthy Suffers Premature Jocularity, Tucker Carlson slanders the wrong Ontario teacher, the World Bank boss is a climate crisis denier, and Contagious Defenestration continues even as Russia destabilizes (18:31) IN SPORTS: Buster Posey becomes management, Dayton Moore becomes ex-management, and why Aaron Judge's 60 Homers are not comparable to Babe Ruth's 60 Homers (like McGwire's 70 Homers were not comparable to Ruth's 60) (22:41) THE WORST PERSONS IN THE WORLD: Politicians walk out of Greg Norman's pitch for the Saudi Blood Money Golf Tour and he competes with Ted Cruz and the NBA for the honors.

C-Block (27:00) THINGS I PROMISED NOT TO TELL: Sunday it'll be 16 years since a guy sent me, at my home, an envelope he claimed was full of anthrax. What happened next, including The New York Post getting vengeance against me by printing a story that identified the real culprit of the anthrax story: Me.

See omnystudio.com/listener for privacy information.

We know that Jeffrey Epstein was born on January 20th, 1953 in Brooklyn, New York City. We also know he died on August 10th, 2019 (or late the evening of the 9th) in the Metropolitan Correctional Center in lower Manhattan. But what do we know about the sixty-six years in-between? We don't know as much as Epstein as we do many of our previous biographical subjects - he was a pretty mysterious guy - but we do know quite a bit. We know he managed the multi-billion dollar fortune of Lex Wexner, founder and CEO of L Brands - a retail conglomerate that owns Bath and Body Works, Abercrombie & Fitch, Victoria's Secret, and more. We know he flew around Bill Clinton, Donald Trump, Prince Andrew, and many other celebrities and politicians on a plane dubbed the Lolita Express, and they hung out with many people of note at his private island in the US Virgin Islands, an island dubbed "pedophile island." He sexually assaulted women and girls there, at his massive Manhattan private residence, at his giant New Mexico ranch compound, in his Palm Beach Florida mansion, and elsewhere. In this first of a two-part episode, we examine his life as best we can, so we can best understand the conspiracies that sprung up in the wake of his very suspicious death. Who else was assaulting women and girls along with Epstein? How connected to the US government was this guy? We look into these questions and so much more today. 

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A small London based crypto asset trading platform called DeversiFi got quite a shock two weeks ago when it mistakenly paid out a $24m fee to a large crypto miner. Transferring crypto deposits generates a fee, known in the industry as a “gas fee”, to compensate miners for the computing energy used to verify transactions on the blockchain. DeversiFi should have paid out around $5, but instead transferred 23.7 million dollars due to an error in their code.

A few fat finger errors like this in the crypto space have made it into the press in recent months.  Compound another DeFi project accidentally handed tokens worth $90m to its users and its owner threatened to report the recipients to the IRS before later backing down. Alchemix - another DeFi protocol forgave 4.8 million dollars of borrowers’ loans prematurely, essentially giving them free money. Once again, almost everyone returned the funds once the error was pointed out.

Most modern trading software has built in controls to prevent huge fat finger mistakes from occurring.  This protects both traders and brokerages from the losses that can come from these mistakes.  In addition exchanges have rules in place to allow traders to request cancellation of fat finger errors. Most exchanges require you to request a cancellation within thirty minutes of the trades execution.

So, for today’s video let’s look at some of the biggest fat finger mistakes in recent market history and see what lessons we can learn.

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Today Ted speaks with Klaus Baer, COO of WRJ Design, an interior design firm he co-founded with Rush Jenkins in Jackson, WY.

Listen in as Klaus shares how he made the transition from Bear Stearns in New York to co-founding WRJ in Jackson and the inspiration behind one of his original home designs that evoked a “European aesthetic mixed with an American Western heritage style”.

Klaus reflects on his most memorable projects, including his exhibition work for a number of high-profile figures such as Nancy Reagan and Johnny Cash.

He touches on the idea of American excellence and how architects and designers can nurture that symbiotic relationship that leads to truly timeless works of art.

Klaus speaks on the WRJ brand and his partnerships with European craftsmen, and why he puts so much focus on soft skills or aptitudes when hiring new team members.

Finally, he talks about his and Rush’s experience publishing the book Natural Elegance: Luxurious Mountain Living.

Topics Discussed: 

• [04:10] Klaus’s background and career in the interior design space
• [15:39] How working with Nancy Reagan impacted Klaus and his foray into exhibitions
• [23:14] What gilded age architecture can teach us about the American Dream
• [26:14] How Klaus chooses his more “humble” projects apart from prestigious clients
• [31:31] Partnering with European craftsmen and differences between different countries
• [39:36] What most don’t know about doing photography for an interior design book
• [48:14] Getting Natural Elegance: Luxurious Mountain Living published
• [52:41] The importance of fostering soft skills among team members
• [56:05] Skills that Klaus wants to impart onto the next generation of designers
• [59:06] What Klaus is most excited for
• [01:00:33] Klaus on how anyone can live the American Dream

Connect with Klaus Baer & WRJ Design:

• Website 
• Instagram 
• Facebook 
• Book

Connect with Build Magazine:

• Website
• Blog 
• Contact Us
• Instagram
• Facebook

Key Quotes from Episode:

• It doesn’t matter the industry—excellence is excellence.
• Something that looks great today has got to be timeless. It’s got to work 10, 15, ideally 20 years from now if possible.
• As interior designers, we are very focused on the nuance of the human appeal of all the textures and tactile layers that go into the interiors that we work on. Architects are more interested in the form and the shape of the house.
• Being an intern is probably one of the best things a young person can do to really understand if they want to be in the industry.

In this episode we look into the origin story of Jeffrey Epstein, not as the mysterious financier, but in the lens of the accused Child Trafficker. How is it that became so wealthy and prominent in high society. What sparked his dark turn into committing sexual acts with under aged girls. In this part 1 episode of the Jeffrey Epstein series, we talk about his education, his math teaching days at Dalton High and the fallout with Steven Hoffenberg at Towers Financial. How did Jeffrey Epstein walk clean from this?

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