Wall Street, every mention
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tap a year for its mentions
every year anyone David Rosenthal 65Ben Gilbert 8Michael Mauboussin 4Jamie Dimon 3Ben Thompson 3Michael Lewis 2Sam Bankman-Fried 1Packy McCormick 1Jason Calacanis 1Howard Schultz 1
Verbatim, from the transcripts: the passages where Wall Street comes up
Disney: The Renaissance and the Empire · Acquired
- ▶ 2:58:11 Ben Gilbert The strategy looks completely genius, and Wall Street loves it, and consumers love it, and the franchises are all
- ▶ 3:19:56 David Rosenthal Wall Street loves it.
- ▶ 3:44:43 David Rosenthal Which actually sort of explains Wall Street agitation to spin it out.
Vanguard: The communist capitalist who saved investors a trillion dollars (Audio) · Acquired
- ▶ 3:49 Ben Gilbert So Jack Bogle and Vanguard are responsible for a trillion dollars of wealth transfer out of the pockets of Wall Street and the finance industry and into the pockets of individual investors in the form of fees that they didn't have to pay.
- ▶ 5:32 David Rosenthal Well, we start in May of 1929, on the eve of the Great Wall Street crash of October 1929, that would throw America and the world into the Great Depression, wipe out millions of family savings, ruin countless lives, forever scar an entire…
- ▶ 6:01 David Rosenthal Banks failed after the Wall Street crash of 1929.
- ▶ 14:56 David Rosenthal And the article centers on this new firm that's leading this innovation, this new sector on Wall Street, even though they're based in Boston, the Massachusetts Investors Trust Company.
- ▶ 30:43 David Rosenthal Was exactly the wrong thing for this moment here in the mid-nineteen sixties for Wellington and its young hotshot new president, because Wall Street and the investing world is undergoing a sea change from the hyper-conservative mode that…
- ▶ 33:25 David Rosenthal Yes, and the go-go years, which really were this, like, violent reaction to all the pent-up conservatism and prudence and austerity that had dominated Wall Street and finance for America and the world through the Depression and through…
- ▶ 36:04 David Rosenthal He's not from a Wall Street background, per se.
- ▶ 36:50 David Rosenthal And Sy basically ignores all the Wall Street conservative conventions and just starts shooting the lights out with this fund.
- ▶ 52:27 David Rosenthal And just to really highlight this again, it's kind of easy in retrospect to look at this and be like, oh, Jack, he was like so morally upstanding and he stood up against Wall Street and like all of the crooks and fees out there.
- ▶ 1:01:30 David Rosenthal I realized that a mutual company would never provide me with the personal fortune that so many denizens of Wall Street would earn, but it offered, I believe, my last best chance to resume my career.
- ▶ 1:29:21 David Rosenthal So they rustle up a group of Wall Street banks.
- ▶ 2:25:36 David Rosenthal It permanently impairs or ruptures faith in the entire smart people on Wall Street ecosystem.
- ▶ 2:25:59 David Rosenthal This is the premise of active money management and all the smart people on Wall Street.
- ▶ 2:27:26 David Rosenthal Wall Street and fund managers for most of the investing public.
- ▶ 2:27:30 David Rosenthal A lot of people's views of Wall Street during the financial crisis changes from, hey, these are smart people who I should probably invest my money with, to these people are charlatans at best and crooks at worst.
- ▶ 2:27:55 David Rosenthal Wall Street and active management in not just a major way, but arguably a permanent way, and who is there as the hero of Main Street, the little guys, but Malvern, Pennsylvania-based Jack Bogle and Vanguard, which makes no profits, has no…
- ▶ 3:12:45 David Rosenthal With the personal fortune that so many denizens of Wall Street would earn, but it offered, I believe, my last best chance to resume my career.
Ferrari: What happens when you staple a luxury brand to a sports team? (Audio) · Acquired
- ▶ 2:27:19 David Rosenthal Fiat announces to Wall Street as part of the merger, though, Sergio does.
- ▶ 2:27:51 David Rosenthal So Sergio needs, you know, a lot of cash to meet his promise to Wall Street and pay down the debt.
- ▶ 2:30:04 David Rosenthal Doesn't wanna do these things in a vacuum, but he wants to do these things very thoughtfully and over an extended period of time, not on a Wall Street calendar.
- ▶ 2:30:47 David Rosenthal Yeah, making it announced to Wall Street like, oh, hey, we think the right thing to do next year is to cut our production by half.
- ▶ 2:31:53 Ben Gilbert Sergio is kind of exactly the guy you would want to manage the street, to look for all the ways that the Ferrari business is quote-unquote unoptimized, to realize the full value of the asset.
- ▶ 2:37:54 David Rosenthal And then, in 2018, just three years later, just three years later, the same year that Sergio had promised to Wall Street that he would pay down all of the debt at Fiat Chrysler, he dies.
- ▶ 2:41:29 David Rosenthal That come about as a result of Ferrari now being a public company and needing to show predictable growth and new avenues of growth to Wall Street.
10 Years of Acquired (with Michael Lewis) · Acquired
- ▶ 11:17 David Rosenthal I worked on Wall Street.
- ▶ 25:56 Michael Lewis Wall Street, Silicon Valley, Washington, movie business, sports, the various things.
- ▶ 1:43:46 Michael Lewis It's one of like the two great mysteries on Wall Street.
Google Part II: Alphabet (Audio) · Acquired
- ▶ 5:03 David Rosenthal Wall Street loved Google.
- ▶ 5:55 David Rosenthal Wall Street hates this.
- ▶ 6:08 David Rosenthal Wall Street's like, God, these guys, what are they doing?
The Jamie Dimon Interview: How JP Morgan Became an $800 Billion Bank · Acquired
- ▶ 1:12 Ben Gilbert Today's episode is the story of a rising star on Wall Street in the 19 eighties who worked with his mentor to merge and acquire their way to the top of the financial world in the nineties, who then got fired unexpectedly
- ▶ 2:02 Ben Gilbert Jamie is now the longest serving CEO of any major Wall Street bank and is viewed as kind of the great stabilizer of the American financial system, especially during the 2008 financial crisis.
- ▶ 5:45 David Rosenthal And everybody on Wall Street and the entire world expects that you
- ▶ 20:03 Jamie Dimon All the limousines in Wall Street were gone.
- ▶ 24:14 Jamie Dimon I remember how hard it was on people on Wall Street.
- ▶ 32:35 David Rosenthal And, and 2006 on Wall Street is like, go, go, go, go, baby.
- ▶ 33:51 Jamie Dimon You know, bridge loans, the whole thing, like in oh seven, the bridge book of Wall Street was four hundred and fifty billion dollars.
- ▶ 36:44 David Rosenthal I was working on Park Avenue on Wall Street.
The Steve Ballmer Interview · Acquired
- ▶ 1:51:51 David Rosenthal That's not what Wall Street likes to hear.
Rolex (Audio) · Acquired
- ▶ 3:35:24 David Rosenthal It's huge for the watch industry in sort of a counterintuitive way, and I remember I lived through this as a banker on Wall Street right out of college.
- ▶ 3:35:32 David Rosenthal I graduated in 2007, and that first year that I was on Wall Street before the crash was the height of watches.
Meta (Audio) · Acquired
- ▶ 3:44:40 David Rosenthal And just to be super clear, desktop revenue wasn't go to go to zero immediately, but Wall Street and investors are really worried that like, hey, the world is transitioning to mobile.
Microsoft Volume II: The Complete History and Strategy of the Ballmer Years (Audio) · Acquired
- ▶ 8:46 David Rosenthal At the same time, many people in technology, especially at Microsoft itself, and lots and lots of investors on Wall Street, believe that these walled garden online services were just temporary.
- ▶ 12:01 David Rosenthal So Wall Street, of course, they're like nuts over all this, you know, the hype is out of control.
- ▶ 1:52:06 David Rosenthal I joined the corporate workforce in 2007 when I graduated from college, and I was an investment banking analyst on Wall Street at UBS.
- ▶ 4:04:08 David Rosenthal Wall Street does not appreciate what's going on.
- ▶ 4:14:30 David Rosenthal The first thing that popped into my mind about why Wall Street did not appreciate the revenue and profit growth during this time was just simply, like, Microsoft did not do a good job telling its story.
Starbucks (with Howard Schultz) · Acquired
- ▶ 43:35 Howard Schultz You know, by the way, I chose the first 500 locations myself, so I was in it in so many ways, but the, the economic model in Wall Street, when we went public in 92, now I'm just, when they, when they heard the model, I said, well, they,…
- ▶ 1:49:19 David Rosenthal Like if word got out to Wall Street that you.
Renaissance Technologies (Audio) · Acquired
- ▶ 2:34:17 David Rosenthal There's this really funny line that Jim and Peter and others will say when asked about why they only hire academics and not from, you know, Wall Street and whatnot, and they're like, well, we found it's easier to teach smart people the…
Novo Nordisk (Ozempic) · Acquired
- ▶ 1:35:05 David Rosenthal And actually Wall Street and the investment community believes that this is really just the first step.
Costco (Audio) · Acquired
- ▶ 1:29:15 David Rosenthal They were under pressure from Wall Street.
- ▶ 2:37:00 David Rosenthal But it's funny to note that every time we've used a version of that phrase on acquired when studying a company that Wall Street analysts think XYZ company is a charity being run for the benefit of X, turns out that those are pretty great…
Porsche (with Doug DeMuro) · Acquired
- ▶ 1:29:44 Ben Gilbert Lots of disposable income, Wall Street is ripping, uh.
Spotify CEO Daniel Ek · Acquired
- ▶ 31:30 David Rosenthal Wall Street all thinks it's the TikTokification of podcasts.
Sessions: David Senra (Founders Podcast) · Acquired
- ▶ 3:10:30 David Rosenthal I should learn about high tech entrepreneurship was the name of the class.
Stratechery (with Ben Thompson) · Acquired
- ▶ 15:12 Ben Thompson And Wall Street is writing about the financial results, but there's a big gap in the middle there.
- ▶ 32:18 Ben Thompson I mean, I think like the subscriptions did exist, I think on Wall Street in particular, but they were generally like 20,000 dollars and you would get all the hedge funds to subscribe and
- ▶ 1:00:54 Ben Thompson No, but I mean, it was easier back then because I mean, I started in 2013 and the entire opinion of the tech press and Wall Street is that Apple was doomed because of course, well, crap, but the Windows Mac, blah, blah, blah.
Enron · Acquired
- ▶ 7:19 David Rosenthal It is a portrait of an America in upheaval at the turn of the 21st century, a country torn between its worship of fast money and its zeal for truth, between greed and high-mindedness, between Wall Street and Main Street.
- ▶ 11:20 Ben Gilbert Of course this was the birth of the Wall Street mania because the super high interest rates from the Volcker era would have led to unbelievably low multiples on any asset you could buy.
- ▶ 20:12 Ben Gilbert It's important to remember that securitization is still a reasonably new concept, even on Wall Street.
- ▶ 50:55 David Rosenthal He starts building out big trading floors in the Enron office in Houston, you know, wants to have this be just like Wall Street, you know, here in Houston.
- ▶ 2:59:25 David Rosenthal I think they probably would have ended up like one of the Wall Street banks where, you know, like, look, some banks are stronger than others.
Qualcomm · Acquired
- ▶ 1:34:11 David Rosenthal Wall Street would love the stock.
ACQ Sessions: Jason Calacanis · Acquired
- ▶ 2:10:06 Jason Calacanis You know, he could have somebody from Wall Street, a publisher, an author of.
Benchmark Part I · Acquired
- ▶ 1:23:07 David Rosenthal And God does Wall Street love this story.
- ▶ 2:06:06 David Rosenthal He started his career as an engineer at Compaq, a John Doerr company, goes to Wall Street, starts writing above the crowd.
- ▶ 2:07:59 David Rosenthal So, you know, we told the story elsewhere, he bid on Wall Street, he then to work for Frank Quattrone in Silicon Valley, did the Amazon IPO with Frank.
Amazon Web Services · Acquired
- ▶ 10:09 David Rosenthal Amazon's fighting for its life against both eBay and Wall Street.
Howard Marks & Andrew Marks: Something of Value · Acquired
- ▶ 1:03:12 Howard Marks You know, back when I was an analyst in the early seventies, I followed Xerox and one of the portfolio managers said to me, who's the best Wall Street analyst on Xerox?
Amazon.com · Acquired
- ▶ 28:45 David Rosenthal So he goes to the investment bank Bankers Trust, which then through a series of mergers, as always happens on Wall Street, becomes part of Deutsche Bank.
- ▶ 1:58:15 David Rosenthal So, uh, Wall Street reverses course.
- ▶ 2:50:13 David Rosenthal Adjusted net income, excluding stock-based comp and other, you know, non-cash expenses, which Wall Street's like, yeah,
- ▶ 3:49:17 David Rosenthal Right, what's the line that people always say, whenever Wall Street becomes disillusioned with Amazon, they say it's a charity being run for the benefit of the American consumer?
Walmart · Acquired
- ▶ 1:30:44 David Rosenthal And the new Walmart concept, Walmart revenue was still only around ten million dollars at that point in time, so they are like a gnat five years later, and Kmart is like darling of Wall Street.
Nvidia: The Machine Learning Company (2006-2022) · Acquired
- ▶ 13:38 David Rosenthal You know, Wall Street loves them.
- ▶ 23:12 David Rosenthal So Wall Street is mostly willing to ignore this in 2006, 2007, 2008.
Altimeter (with Brad Gerstner) · Acquired
- ▶ 21:58 Brad Gerstner I had never run a spreadsheet in my life, and I show up, and I have all these guys who've worked for hedge funds, private equity firms, venture firms, Wall Street guys, investment bankers, and so all of a sudden, I'm huddled around
FTX with Sam Bankman-Fried & Mario Gabriele (Extended Cut) · Acquired
- ▶ 14:47 Sam Bankman-Fried Like, it was a good place to be, and it suffered from basically none of the problems that you generally hear about on Wall Street.
Not Boring (with Packy McCormick) - Extended Cut · Acquired
- ▶ 18:07 David Rosenthal Then of course I got my butt kicked on what I actually got to wall street, but, um, you got an investment banking job in 2009.
- ▶ 19:27 Packy McCormick Like, you know, there's the intern programs, and there's drinks, and there's speeches, and there's all these things that you do when you're an intern on Wall Street.
Complexity Investing & Semiconductors with NZS Capital (Extended Cut) · Acquired
- ▶ 13:18 Brinton Johns We thought, man, all these companies are optimized around productivity and Wall Street only makes it worse because we're obsessed over quarterly earnings.
Standard Oil Part II (Extended Cut) · Acquired
- ▶ 2:29:57 David Rosenthal Back a few years ago, uh, who, uh, his, his group covered Tesla, and he was telling me about, uh, the, the four 20 day, the day that Elon tweeted funding secured, and just the mass chaos that that unleashed on Wall Street, because like,…
Michael Mauboussin Master Class — Moats, Skill, Luck, Decision Making and a Whole Lot More · Acquired
- ▶ 7:53 Michael Mauboussin So the story is very quickly as I was a liberal arts major in college, I went to Wall Street.
- ▶ 8:12 Michael Mauboussin So I come on and part of it was remedial and so forth, but, but I was there just wall street.
- ▶ 27:22 Michael Mauboussin You know, you, you could argue it was a little bit more academic than that was traditional on Wall Street at the time.
- ▶ 57:38 Michael Mauboussin And I think I was the first person on wall street to write about Moneyball.
Standard Oil Part I · Acquired
- ▶ 1:47:47 David Rosenthal 26 Broadway right on Wall Street.