What Wall Street's thinking, the VC investors getting rich, and Chevy's long game


The Wall Street elite spent the first half of this week in Los Angeles for the annual Milken Institute Global Conference. And the mood, according to Business Insider’s Dakin Campbell, was cautious. In his story, Inside Milken 2019, where Masters of the Universe fret over the economy even as their wealth grows, he wrote:

One West Coast banker is telling business owners to sell their company in the next 12 months or prepare to navigate through the next recession. An Orange County money manager is advising his high net worth clients about pushing more money into alternative investments to weather a downturn. An investment manager at a sovereign wealth fund is looking to sell whatever he can.

According to Business Insider’s investing editor Joe Ciolli, investors and economists spent much of Milken dispelling misconceptions around a potential recession, the Fed, and inflation. And as Becky Peterson reports, despite high-profile female speakers and a lounge devoted to diversity content, Milken was still overwhelmingly male. Here’s her story:

Billionaire cabana meetings and secret confessions: Milken’s male-heavy conference for the global elite shows finance is all talk when it comes to gender equality

And here are some other highlights:

What did we miss? Let me know. You can reach me at [email protected] if you have any questions, ideas, or requests.


Quote of the week

“Look at it simplistically. If you have no capital, why be a capitalist?” – Michael Hintze, a billionaire and group executive chairman and senior investment officer at asset management firm CQS, on the rise of populism.

In conversation

Finance and Investing

Meet the 5 rising stars presenting their investment ideas at the world’s highest-profile hedge-fund conference

If you want to make a name for yourself in the hedge-fund game, you could start with presenting an investment idea at the Sohn Conference.

Citadel has poached a top executive from Morgan Stanley in one of Wall Street’s fiercest hiring battlegrounds

Hedge-fund giant Citadel has poached a top executive from Morgan Stanley in one of the fiercest talent battlegrounds on Wall Street.

This wealth manager for celebrities says the young people who ask her for investing advice are often making a basic financial error

Rebecca Rothstein spends her days managing billions of dollars for the very wealthy, but she makes a point of talking to younger people about their financial situations and needs.

Tech, Media, Telecoms

Meet the 7 VC investors getting rich off of this year’s parade of ‘unicorn’ IPOs

2019 is set to make a lot of people very, very rich.

Jeffrey Katzenberg’s Quibi is courting big brands like P&G and Anheuser-Busch, seeking up-front ad deals for the streaming platform

The Hollywood exec Jeffrey Katzenberg’s yet-to-be-launched mobile streaming-video service, Quibi, is courting several big-name advertisers in a bid to secure up-front ad deals.

Verizon’s marketing for mobile 5G appears virtually nonexistent, and analysts predict big strategy changes could be coming

Verizon may have been first to 5G, but the telecom giant is still sorting through issues around service and strategy.

Healthcare, Retail, Transportation

A health insurance startup in North Carolina is betting on pharmacists in an entirely new approach to a $US327 billion market

A health insurance startup is betting it can use pharmacists to take better care of elderly Americans.

Chevy’s marketing chief explains how the automaker is playing the long game with electric cars

When it comes to electric cars, Tesla gets a lot of attention – but General Motors has been in on the action for longer than Tesla has existed.

A $US70 billion investment manager turned the Milwaukee Bucks into a basketball powerhouse. Now he’s set on improving America’s dismal passenger trains.

Hugging Florida’s Atlantic coast is a narrow strip of land with some of the country’s most recognisable attractions.

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