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Masters in Business

Masters in Business

Bloomberg Radio host columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business.

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Episodes

Eric Balchunas on the Vanguard Effect

Bloomberg Radio host Barry Ritholtz speaks with Eric Balchunas, a senior ETF analyst at Bloomberg who has more than a decade of experience working with ETF data, designing new functions and writing ETF research for the Bloomberg Terminal. Balchunas also contributes articles, feature stories and blog posts on ETFs for Bloomberg.com and appears each week on Bloomberg TV and Bloomberg Radio to discuss ETFs. His latest book is "The Bogle Effect: How John Bogle and Vanguard Turned Wall Street Inside Out and Saved Investors Trillions." 

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2022-08-26
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Bill Browder on High Finance, Murder and Justice (Podcast)

 Bloomberg Radio host Barry Ritholtz speaks with Bill Browder, who is head of the Global Magnitsky Justice Campaign and author of the recently released ?Freezing Order: A True Story of Money Laundering, Murder and Surviving Vladimir Putin?s Wrath.? The founder and CEO of Hermitage Capital Management, which was the investment adviser to the largest foreign investment fund in Russia until 2005, Browder is also the author of ?Red Notice: A True Story of High Finance, Murder and One Man?s Fight for Justice.? 

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2022-08-19
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Kenneth Tropin on Quantitative Hedge Fund Strategies

Bloomberg Radio host Barry Ritholtz speaks with Kenneth G. Tropin, who is the chairman and the founder of Graham Capital Management, a multi-strategy quantitative hedge fund with $18 billion in assets under management. Prior to founding GCM in 1994, Tropin was president and chief executive officer of hedge fund John W. Henry & Company, where he worked with such legendary traders as John Henry and Paul Tudor Jones.

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2022-08-13
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Anat Admati on Banking Regulations and Techlash

Bloomberg Radio host Barry Ritholtz speaks with Anat Admati, a professor of finance and economics at the Stanford Graduate School of Business. In addition to being a senior fellow at the Stanford Institute for Economic Policy Research and a director at the Corporations and Society Initiative, Admati is co-author of "The Bankers' New Clothes: What's Wrong With Banking and What to Do About It."

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2022-08-05
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Hannah Elliott on Automotive Industry Trends

Bloomberg Radio host Barry Ritholtz speaks with Bloomberg Businessweek staff writer Hannah Elliott, who reports on the automotive industry with a special focus on hyper-cars, motorcycles, and electric and luxury vehicles. She lives in Los Angeles, where car culture is enjoying a renaissance.

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2022-07-29
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Graham Weaver on Private Equity

Bloomberg Radio host Barry Ritholtz speaks with Graham Weaver, who is the founder and CEO of Alpine Investors, a PeopleFirst private equity firm in San Francisco which invests in software and services. Graham has been in private equity for over 20 years, having started Alpine in his dorm room at the Stanford Graduate School of Business. 

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2022-07-22
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Antti Ilmanen on Expected Returns

Bloomberg Radio host Barry Ritholtz speaks with Antti Ilmanen, who is the principal and global co-head of the portfolio solutions group at AQR Capital Management. His most recent book, "Investing Amid Low Expected Returns: Making the Most When Markets Offer the Least," was published in April.

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2022-07-16
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Spencer Jakab on the Death of Meme Stocks

Bloomberg Radio host Barry Ritholtz speaks with the Wall Street Journal?s Spencer Jakab, author of ?The Revolution That Wasn?t: GameStop, Reddit and the Fleecing of Small Investors.? Jakab, who edits the Journal?s Heard on the Street column, also wrote ?Heads I Win, Tails I Win: Why Smart Investors Fail and How to Tilt the Odds in Your Favor.? 

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2022-07-08
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Perth Tolle on ETF Freedom Metrics

Bloomberg Radio host Barry Ritholtz speaks with Perth Tolle, who is the founder of Life + Liberty Indexes and creator of the Freedom 100 EM Index (FRDM index). Prior to forming Life + Liberty Indexes, Tolle was a private wealth advisor at Fidelity Investments in Los Angeles and Houston. Prior to Fidelity, Tolle lived and worked in Beijing and Hong Kong, where her observations led her to explore the relationship between freedom and markets. Tolle was named one of the Ten to Watch in 2020 by Wealth Management Magazine and one of the 100 People Transforming Business by Business Insider in 2021. 

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2022-07-01
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Jonathan Miller on Urban Real Estate

Bloomberg Radio host Barry Ritholtz speaks with Jonathan Miller, who is president, CEO and co-founder of the real-estate appraisal and consulting firm Miller Samuel Inc. Miller, a state-certified real-estate appraiser in New York and Connecticut, holds Counselor of Real Estate (CRE) and Certified Relocation Professional (CRP) credentials, and is an adjunct associate professor at Columbia University's graduate school of architecture and planning. 

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2022-06-24
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Charles Strom on the Diagnostics Industry

Bloomberg Radio host Barry Ritholtz speaks with Dr. Charles Strom, who has spent the past 30 years in the fast-changing field of genetic testing. The CEO and co-founder of Liquid Diagnostics, which uses new technology to analyze ultra-short DNA fragments in saliva and blood, Strom previously served as medical director for genetic testing at Quest Diagnostics, did groundbreaking work in pre-implantation genetics while at the Reproductive Genetics Institute, and served as a faculty member at the University of Chicago, where he also earned his doctorate and medical degrees.  

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2022-06-17
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Mark Mobius on Emerging Market Funds

Bloomberg Radio host Barry Ritholtz speaks with Mark Mobius, known as “the Godfather of Emerging Markets,” who has spent more than 40 years working in and traveling throughout developing economies. Prior to launching the eponymous Mobius Capital Partners in 2018, he served as executive chairman of Franklin Templeton Investments’ emerging markets group, which he helped to grow from $100 million across six markets to more than $40 billion in 70 countries. Mobius has a Ph.D. in economics from MIT and has authored 12 books.  

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2022-06-10
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Arnold Schwarzenegger's Secret Weapon

Arnold Schwarzenegger, the movie star-turned-California governor, has been interested in business since long before he was Conan or the Terminator. For more than four decades, his behind-the-scenes partner has been Paul Wachter, whose Main Street Advisors was born 25 years ago, with Schwarzenegger's encouragement.
The modern multihyphenate -- think LeBron, Drake, Billie Eilish -- are following a template the pair established in the 1980s, as Schwarzenegger successfully expanded his popularity and wealth through savvy dealmaking. The key element: Don't just endorse when you can own a piece of the product.

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2022-06-07
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Daniel C. Chung on Probability Theories for Investors

Bloomberg Radio host Barry Ritholtz speaks with Daniel C. Chung, who is chief executive officer and chief investment officer of the asset-management firm Alger. He is also portfolio manager of several Alger strategies, including the Spectra fund, which is worth $4.5 billion. Chung has nearly three decades of investment experience; prior to that, he attended Harvard Law School and Stanford University. He is also a CFA charterholder and a member of the CFA Institute.  

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2022-06-03
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Adam Parker on Strategies and Valuations

 Bloomberg Radio host Barry Ritholtz speaks with Adam Parker, who is the founder and CEO of Trivariate Research LP. From 2010 to early 2017, Adam was the chief US equity strategist and director of global quantitative research at Morgan Stanley, where he was acknowledged as a top strategist and quantitative researcher multiple times by Institutional Investor magazine. He was also a member of Morgan Stanley’s Global Investment Committee, a seven-person group responsible for asset allocation recommendations for the firm’s $2 trillion private wealth network. A prolific researcher, Parker co-authored a groundbreaking paper on gender diversity as a risk factor. He holds a Ph.D. in statistics from Boston University. 

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2022-05-27
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Gerard O?Reilly on Academic Research and Stocks

Bloomberg Radio host Barry Ritholtz speaks with Gerard O’Reilly, who is co-chief executive officer and chief investment officer at Dimensional Fund Advisors, which has $650 billion in assets under management. O’Reilly is also a director at the firm. Prior to joining Dimensional in 2004, O’Reilly earned a Ph.D. in aeronautics from the California Institute of Technology. 

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2022-05-20
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Boaz Weinstein on Credit Investments

 Bloomberg Radio host Barry Ritholtz speaks with Boaz Weinstein, who is founder and chief investment officer of Saba Capital Management. Prior to launching Saba as an independent firm in 2009, Weinstein was co-head of global credit trading at Deutsche Bank, where he founded Saba Principal Strategies as a proprietary trading group in 1998. Weinstein first came to public notice as the fund manager on the other side of the derivatives trade from the London Whale, which ultimately cost JPMorgan Chase & Co. losses of at least $6.2 billion in 2012. 

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2022-05-13
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Alex Gurevich on Global Macro Investing Strategies

Bloomberg Radio host Barry Ritholtz speaks with Alex Gurevich, the founder and chief investment officer of San Francisco-based global macro investment firm HonTe Advisors. Gurevich, who has more than 20 years of trading experience, formerly ran global macro at J.P. Morgan; he earned his Ph.D. in mathematics from the University of Chicago. His most recent book, "The Trades of March 2020: A Shield against Uncertainty," was published in paperback this year.

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2022-05-06
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Michael Lewis on His Journey to Wall Street

Bloomberg Radio host Barry Ritholtz speaks with author Michael Lewis, whose books include “Flash Boys: A Wall Street Revolt,” “Moneyball: The Art of Winning an Unfair Game,” “Liar’s Poker” and “The Fifth Risk.” He is also a Bloomberg Opinion columnist and hosts the podcast “Against the Rules.”

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2022-04-29
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Mark Jenkins on Leveraged Finance and Pension Plans

Bloomberg Radio host Barry Ritholtz speaks with Mark Jenkins, who is head of global credit at the investment firm The Carlyle Group. Carlyle has more than $300 billion of assets under management; its global credit platform manages over $73 billion. Jenkins is also a managing director and member of Carlyle's leadership team. He previously worked at CPPIB, Barclays Capital and Goldman Sachs.

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2022-04-21
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Luana Lopes Lara on Kalshi?s CFTC Approval Journey

Bloomberg Radio host Barry Ritholtz speaks with Luana Lopes Lara, who is the co-founder of KalshiEX LLC. Kalshi has developed an asset class ? ?event contracts? ? and a financial exchange for trading on the outcome of events. After receiving approval from Commodity Futures Trading Commission (CFTC), it became the first regulated financial exchange dedicated to trading event contracts.

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2022-04-14
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Jonathan S. Lavine on Private Equity Investing (Podcast)

Bloomberg Radio host Barry Ritholtz speaks with Jonathan S. Lavine, who is chief investment officer of Bain Capital Credit and co-managing partner of Bain Capital, a leading private investment firm with some $160 billion in assets under management. Bain Capital Credit, which has $40 billion in assets under management, invests across the spectrum of credit strategies, including leveraged loans, high-yield bonds, distressed debt, private lending, structured products, nonperforming loans and equities. 

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2022-04-08
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Bill Gross on Institutional Bond Trading (Podcast)

Bloomberg Radio host Barry Ritholtz speaks with "Bond King" Bill Gross, who has been a pioneer in fixed income investing for more than 40 years. Gross co-founded Pacific Investment Management Co. in 1971 and served as managing director and its chief investment officer until 2014, when he joined Janus Capital Group (now Janus Henderson Group). He retired in 2019 to focus on managing his charitable foundation. Gross is also the author of several books, including the just-published "I'm Still Standing: Bond King Bill Gross and the PIMCO Express."

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2022-04-01
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Samara Cohen on Managing ETFs (Podcast)

Bloomberg Opinion columnist Barry Ritholtz speaks with Samara Cohen, who is chief investment officer of ETF and index investments at BlackRock. Her group oversees more than $3 trillion of BlackRock's $10 trillion in assets under management.

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2022-03-25
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Darren Palmer on the EV Revolution (Podcast)

Bloomberg Opinion columnist Barry Ritholtz speaks with Darren Palmer, who was recently named Ford Motor Co.'s vice president for electric vehicle programs. Palmer was previously Ford's head of battery-electric vehicles, where he was responsible for leading the automaker's EV business in North America.

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2022-03-18
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Michelle Seitz on Alternative Investments (Podcast)

Bloomberg Opinion columnist Barry Ritholtz speaks with Michelle Seitz, chairman and CEO of Russell Investments Group LLC, a global investment solutions firm with $331.5 billion in assets under management and $2.8 trillion under advisement for clients in 32 countries. In 2020 and 2021, Seitz appeared on Barron?s "Most Influential Women in U.S. Finance" list. Before joining Russell, Seitz spent 22 years with William Blair & Co., including 16 as a member of the firm?s executive committee and CEO of William Blair Investment Management.

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2022-03-11
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David R. Kotok on Fed Studies of Pandemic Shocks (Podcast)

Bloomberg Opinion columnist Barry Ritholtz speaks with David R. Kotok, who is co-founder, chairman and chief investment officer of Cumberland Advisors, which has $4 billion in assets under management. Kotok is also a director at the nonprofit Global Interdependence Center, which promotes free trade and international dialogue, and has authored or co-authored four books, including "From Bear to Bull with ETFs" and "Adventures in Muniland: A Guide to Municipal Bond Investing in the Post-Crisis Era."

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2022-03-04
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Sebastian Mallaby on How Venture Capital Made Silicon Valley

Bloomberg Opinion columnist Barry Ritholtz speaks with journalist Sebastian Mallaby about his new book, ?The Power Law: Venture Capital and the Making of the New Future.? Mallaby, a two-time Pulitzer Prize finalist, is a senior fellow at the Council on Foreign Relations. He is also the author of ?More Money Than God: Hedge Funds and the Making of a New Elite.?

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2022-02-25
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Samantha McLemore on Longevity Risk Management

Bloomberg Opinion columnist Barry Ritholtz speaks with Samantha McLemore of Miller Value Partners, which has some $3.1 billion in assets under management. McLemore has worked alongside Miller Value Partners founder Bill Miller on opportunity equity for some two decades, and is expected to take over the Miller Opportunity Trust following his retirement. McLemore is also the founder, majority owner and chief investment officer of Patient Capital Management, an investment adviser that serves institutional clients in cooperation with Miller Value Partners, which has some $281 million in assets under management.

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2022-02-18
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James Anderson on Why Fund Management Is 'Broken' (Podcast)

Bloomberg Opinion columnist Barry Ritholtz speaks with James Anderson, a longtime partner at Edingburgh-based Baillie Gifford & Co. and joint manager of Scottish Mortgage Investment Trust PLC, who will be retiring in April. Last year, he drew headlines for criticizing the industry as ?irretrievably broken.? Baillie Gifford currently has 326 billion pounds ($441 billion) in assets under management.

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2022-02-11
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Rebecca Patterson on Global Macro Investing (Podcast)

Bloomberg Opinion columnist Barry Ritholtz speaks with Rebecca Patterson, who serves as director of investment research at the world's largest hedge fund, Bridgewater Associates. In addition to shaping the firm's research agenda, Patterson is a member of the executive committee, investment committee, and commercial and business strategy committee, and helps lead the firm?s diversity and inclusion efforts. She previously served as chief investment officer at Bessemer Trust, where she oversaw $85 billion in client assets, and is currently a member of the Council on Foreign Relations.

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2022-02-04
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David Conrod on Successor Funds and Growth Equity (Podcast)

Bloomberg Opinion columnist Barry Ritholtz speaks with David Conrod, who is co-founder and chief executive officer of FocusPoint Private Capital Group. Prior to co-founding FocusPoint ? which raises capital for private equity, credit, real estate, real assets and direct transactions in developed and emerging markets ? Conrod was a senior managing director at Guggenheim Partners, where he established its private fund group, obtaining more than $7 billion of fund allocations for general partnerships external to the firm.

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2022-01-28
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Tina Vandersteel on Emerging-Country Debt (Podcast)

Bloomberg Opinion columnist Barry Ritholtz speaks with Tina Vandersteel, who is the head of GMO?s Emerging-Country Debt team. Prior to joining GMO in 2004, she worked at J.P. Morgan in fixed-income research developing quantitative arbitrage strategies for emerging debt and high-yield bonds. She began her career at Morgan Guaranty Trust, attending Morgan Finance Program #18, before establishing her career in emerging debt. 

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2022-01-21
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Jim McKelvey on 'The Innovation Stack' (Podcast)

Bloomberg Opinion columnist Barry Ritholtz speaks with entrepreneur Jim McKelvey, author of ?The Innovation Stack: Building an Unbeatable Business One Crazy Idea at a Time.? McKelvey is the CEO and founder of Invisibly and (with Jack Dorsey) co-founder of Square, where he currently sits on the board of directors. McKelvey also chairs the board of directors at the Federal Reserve Bank of St. Louis. 

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2022-01-15
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Ray Dalio on the Key to Success: Failing Well (Podcast)

Bloomberg Opinion columnist Barry Ritholtz speaks with Ray Dalio, who is founder, co-chair and co-chief investment officer of the world?s largest hedge fund, Bridgewater Associates. His most recent book is ?Principles for Dealing With the Changing World Order: Why Nations Succeed and Fail.?

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2022-01-07
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Richard Nisbett on Flawed Reasoning and Societies (Podcast)

Bloomberg Opinion columnist Barry Ritholtz speaks with social psychologist Richard Nisbett, an emeritus professor at the University of Michigan who has studied how culture affects cognitive processes, among other issues. He is the author of several books, including "The Geography of Thought," "Intelligence and How to Get It," and, most recently, "Thinking: A Memoir." 

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2022-01-01
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Max Chafkin on the Social Good of Tech Companies (Podcast)

Bloomberg Opinion columnist Barry Ritholtz speaks with Bloomberg Businessweek features editor and tech reporter Max Chafkin, who is author of "The Contrarian: Peter Thiel and Silicon Valley's Pursuit of Power." Chafkin's work has also appeared in Fast Company, Vanity Fair and The New York Times Magazine. 

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2021-12-23
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Michael Mauboussin on How to Read Stock Prices (Podcast)

Bloomberg Opinion columnist Barry Ritholtz speaks with Michael Mauboussin, who is head of consilient research at Morgan Stanley Investment Management's Counterpoint Global and co-author of the recently revised and updated book "Expectations Investing: Reading Stock Prices for Better Returns." Mauboussin joined Morgan Stanley in 2020 and has more than three decades of experience. He previously served as director of research at BlueMountain Capital Management, head of global financial strategies at Credit Suisse, and chief investment strategist at Legg Mason Capital Management. He is also an adjunct professor of finance at Columbia Business School and chairman of the board of trustees at the Santa Fe Institute. 

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2021-12-17
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Maureen Farrell on WeWork?s Investments (Podcast)

Bloomberg Opinion columnist Barry Ritholtz speaks with New York Times business reporter Maureen Farrell, who co-authored the 2021 book "The Cult of We: WeWork, Adam Neumann, and the Great Startup Delusion" along with Eliot Brown. Before joining the New York Times, Farrell spent nearly 10 years at the Wall Street Journal.

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2021-12-10
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John Doerr on Sustainable Investments (Podcast)

Bloomberg Opinion columnist Barry Ritholtz speaks with venture capitalist John Doerr, chairman of Kleiner Perkins and author of the recently published ?Speed and Scale: An Action Plan for Solving Our Climate Crisis Now.? Doerr also authored 2018?s bestselling ?Measure What Matters.?

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2021-12-03
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Steven L. Fradkin on the Creation of Wealth (Podcast)

Bloomberg Opinion columnist Barry Ritholtz speaks with Steven Fradkin, president of Northern Trust's wealth management business unit, which has $355 billion in assets under management. Fradkin was previously chief financial officer and head of international business at Northern Trust, among other roles. He has been a member of the corporation?s management committee since 2004.

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2021-11-24
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Edwin Conway on BlackRock Alternative Investors (Podcast)

Bloomberg Opinion columnist Barry Ritholtz speaks with Edwin Conway, the global head of BlackRock Alternative Investors (BAI). BAI, one of the fastest-growing parts of the investment giant BlackRock ? which is itself the world?s largest asset manager, with $9.46 trillion in assets under management ? manages more than $300 billion and has more than 1,000 employees. Conway chairs the BAI Executive Committee and oversees the strategic direction of BlackRock?s Alternatives platform.

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2021-11-24
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Robin Wigglesworth on the Creation of the Index Fund (Podcast)

Bloomberg Opinion columnist Barry Ritholtz speaks with Robin Wigglesworth, who is the global finance correspondent for the Financial Times and author of the just-published ?Trillions: How a Band of Wall Street Renegades Invented the Index Fund and Changed Finance Forever.?

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2021-11-12
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Thomas S. Gayner on Things That Matter in Markets (Podcast)

Bloomberg Opinion columnist Barry Ritholtz speaks with Markel Corp. co-chief executive officer Thomas S. Gayner. Gayner oversees investing activities for the company ? which boasts a capital portfolio of $27 billion ? as well as the Markel Ventures companies. He also serves on the boards of Colfax Corp., Graham Holdings Co., Cable One Inc. and Davis Funds, as well as that of Markel.

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2021-11-05
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Lisa Jones on Investing With a Purpose (Podcast)

Bloomberg Opinion columnist Barry Ritholtz speaks with Lisa Jones, who leads the $100 billion U.S. arm of the French asset management giant Amundi, which has more than $2 trillion in assets under management globally. In addition to serving as president and chief executive officer of Amundi US Inc., Jones is president of Amundi Distributor US Inc., heads the U.S. executive committee and the U.S. management committee, and is a member of the global executive committee. She recently received her second Top Women in Asset Management Award from Money Management Executive.

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2021-10-29
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Sukhinder Singh Cassidy on Entrepreneurship (Podcast)

Bloomberg Opinion columnist Barry Ritholtz speaks with Sukhinder Singh Cassidy, a tech executive and entrepreneur with more than two decades of experience founding, scaling and advising companies. She is founder and chair of theBoardlist, a premium talent marketplace, and author of the recent Wall Street Journal bestseller "Choose Possibility: Take Risks and Thrive (Even When You Fail)."

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2021-10-22
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Soraya Darabi on Social-Media Startups (Podcast)

Bloomberg Opinion columnist Barry Ritholtz speaks with Soraya Darabi, who is co-founder and general partner at TMV, an early-stage venture firm which has funded a broad range of startups. Darabi is also the founder of Transact Global and host of the podcast "Business Schooled." She previously served as manager of digital partnerships and social media at The New York Times.

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2021-10-16
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Chamath Palihapitiya on Venture Investments (Podcast)

Bloomberg Opinion columnist Barry Ritholtz speaks with Chamath Palihapitiya, the founder and CEO of Social Capital LP, which backs breakthrough companies in areas such as health care, education, climate change and space. Prior to founding Social Capital, Palihapitiya was a member of Facebook's senior executive team. He is also owner and director of the NBA's Golden State Warriors. 

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2021-10-08
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Jack Schwager on the Glory Days of Trading (Podcast)

Bloomberg Opinion columnist Barry Ritholtz speaks with Jack Schwager, an expert in futures and hedge funds and co-founder and chief research officer of FundSeeder. Schwager has also written many books, including the "Market Wizards" series; his most recent is "Unknown Market Wizards: The Best Traders You?ve Never Heard Of."

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2021-10-01
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Hubert Joly on the Heart of Business (Podcast)

Bloomberg Opinion columnist Barry Ritholtz speaks with Hubert Joly, who earned a host of accolades during his tenure as chairman and CEO of Best Buy, and is currently a senior lecturer at Harvard Business School. Joly's new book is "The Heart of Business: Leadership Principles for the Next Era of Capitalism."

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2021-09-24
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