John Coates: Most Americans aren’t aware of how concentrated the financial sector has gotten

[@peteypobbs8065]

im a physician. my group was recently replaced by a PE back corporate medical group. care has significantly suffered and id 4x more expensive for patients.

[@UnlessRoundIsFunny]

Happens to every industry they touch. I’ve repped doctors, vets, construction suppliers, dentists-you name it-in these deals, and PE ruins every business it operates. We need more independent small businesses, but they’re all dying bc the banks no longer extend them operating capital like they used to 40 years ago. The financial sector of this country has become a leech on 99% of us for the benefit of fewer and fewer people.

[@user-ez7cx5ro3r]

+1 Just search how private equity is ruining America on here and it’s all there

[@mtn1793]

The trump administration is basically a private equity firm. Here comes the collapse.

[@guywihn1658]

When Barack Obama was running on universal healthcare I only heard silence from America's medical practitioners. Likewise when Bernie Sanders was running.

[@sethtenrec]

@@UnlessRoundIsFunnyuntil finally it will only be Musk and Bezos

[@JohnMacFergus-oz5cp]

Some Americans are so distracted by consumerism and scratching for a living, they are constantly kept unaware of what's going on behind closed doors. Thanks Professor and the Harvard law team for your information.

[@astrid.00.7]

Some? 😂 (Most is more accurate.) And this is surely by design-how else can financial scams keep succeeding? You have to have a large pool of money to work with (great swaths of people to fleece).

[@JoeARedHawk275]

Most people are clueless about classes and how anything in our world functions. They think they’re temporarily embarrassed millionaires while the capital class has been hoarding more and more money in an economic system that has finite growth.

[@TheGringoSalado]

“Education” system pumps out perfect consumer serfs

[@pageandpowers]

I love how he's so casually mentions then brush is aside the fact that things like water shortages are often a direct result of non-disclosure in private equity. Just take a moment. Human beings in this country living without water because of greed. Reality.

[@paillette2010]

As Gary Stevenson says, the poor are being run like it’s an individual’s game and don’t work together. You can roll a lot of middle class who are one paycheck away from disaster into that, too.

[@kyndalalex9125]

Private equity is also buying up MASSIVE plots of land and subsequently their ecosystem services, resources and inhabitants… it’s getting scary out here

[@Yeah_eatsht]

Jackson Hole Wyoming... unbelievable....

[@LafemmebearMusic]

Getting? 😢

[@dvidsilva]

Private universities, and their endowments and philosophy have made it so much worse. Funny they’ll post this

[@videomdify]

His take on effects of private equity on healthcare organizations is spot on. There is a glaring difference between working in healthcare with a nonprofit organization and an organization bought by private equity. In the latter, profit becomes the primary goal. You see push for physicians to see more patients, minimal staffing and other changes.

[@MovieViking]

So basically mimicking a poor 3rd world country while claiming to be the greatest nation on Earth

[@AshiStarshade]

You are generalizing, which is somewhat reasonable here.

[@BadgerBJJ]

Up until the public chooses their competitors

[@johnnymatias3027]

​@BadgerBJJ the issue is directionality here. Sure you can in theory chose the better performing non-profit, but the for-profit PE backed company will be able to use its profits and capital to grow faster with worse care, lower prices and lower wages (efficiency), the overall PE industry will accelerate its purchase of control of the overall industry and outcompete or buy put the non-profits while lobbying for privatized for profit care. You get to a point where there simply is no competition left and they'll lobby for higher barriers to entry for smaller companies to raise the likelihood of them selling out to PE early on. Basically what Uber, did to the taxi market writ large across healthcare, construction, real estate, manufacturing and services. Once monopoly is obtained, wages can be reeeeally plummeted, prices will skyrocket and quality of products can crater. We see it *everywhere* in the economy. Enshitification.

[@ashleyy6329]

Not just the financial sector. Many of the top Michelin restaurants in the USA have been sold to large corporate entities that oversee the employment and payment of chefs, which has led to thousands of chefs leaving the industry because of lack of respect, and lack of pay. More and more restaurants are being taken by massive corporate entities such as Eurest or restaurant associates. Monopoly everywhere.

[@ChiCityLady]

This must be why so many restaurants are terrible now. Just too many corners cut and too understaffed to be enjoyable.

[@ashleyy6329]

@@ChiCityLady exactly. The bureaucracy of it all is the real killer, needing to order from pre approved suppliers, which also means, zero local food, no local farms or local fisheries because they “aren’t consistent enough”, along with the fact that like, myself, I’m a chef with 15 years experience, and my current salary is so pathetic, literally a slave wage compared to what I should be making, but there’s no where I can go without leaving the country, because all the “best” restaurants in the country are now owned by the same people

[@sco0tpa]

​@@ashleyy6329have you given any thought to starting your own restaurant? If yes, what went into your decision not to? I am not suggesting you should do this because restaurants are a risky business. I am just curious about what obstacles chefs encounter going from Chef to owner.

[@ashleyy6329]

@@sco0tpa money. opening a restaurant today takes an immense amount of upfront money. the kitchen equipment for a small restaurant that seats maybe 80 people, that kitchen alone could easily cost $500,000. And that's just the kitchen, that doesn't take into account the tables, the bar, the chairs, the plates, glasses, cleaning chemicals, food cost, insurance, not to mention the money needed to pay your staff the first year while you personally make zero profit. I currently work for a new restaurant. seats 480 people at max capacity. its a big place, but many corporate restaurants like fogo de chao, or Morton's have been known to hit those niumbers too. the startup cost to launch the restaurant i work for was 15 Million..... just to open. that doesn't account for anything of the other costs after opening first day and onward... The most a chef makes in most restaurants in the US, for an Executive chef, is 50,000 - 70,000, before tax, and personal expenses.... Chefs in the US are not given the respect or pay they deserve, in order for them to leave corporate jobs to open anything that could genuinely be amazing... Even when they do get out and they do open a business, they have to charge more on menu prices than their corporate neighbors because they don't have millions in the bank to subsidize food cost. So the public complains "why is my burger so expensive, i can get it cheaper at applebees" ... Well your applebees burger was made in a warehouse and shipped frozen over thousands of miles. vs the freshly ground burger, from a local supplier, slaughtered last week. No one wants to pay for actually fresh food anymore.

[@shmyeah]

yup, goodbye 20yrs of my life and training. i dont think ill ever go back to providing food for people. traumatized

[@garretttedeman]

These are exactly the points that I've been most concerned about (especially in first 6-8-10 min. of discussion), and have tried to explain to people over the past few years. ...The trendlines are pretty staggering for concentration and effects. But, here presented the best and most articulately. Very well-done. We really need this kind of content. The more effectively we can open-up these topics for more thoughtful discourse, the better we'll be able to arrive at guidance, regulation, or policy objectives -- both for the financial industry and society as a whole.

[@EscapeCondition]

The time for these topics was when wall street was celebrating these same techniques in the 70s and 80s instead of calling everyone who opposed them "communists" for saying the perpetrators were heartless. It's always the same conversations no matter what the catchphrase has been about prioritizing profits over the well-being of the public or workers retirements, but now that executives and managers are losing power it's an issue lol.

[@zeddybear257]

He’s being more than generous regarding public interest in disclosure. If the public is impacted, and firms, indirectly or directly, raise funds from public money, firms need to be fully accountable and transparent for the effects this has on the public - not possibly, maybe more, or they could, and not kinda. They don’t get to live in a bubble just because they feel like it. They know it doesn’t work this way just as well as anyone else does. I appreciate his message and the information presented, and perhaps he’s using a good dose of diplomacy to get the message out. I’m not quite so diplomatic, since that hasn’t served well up to this point, has it? Give an inch and psychopaths take, well, the whole earth.

[@eschwarz1003]

absolutely

[@ntl9974]

Tell pension funds and others to STOP investing with private equity

[@astrid.00.7]

@@zeddybear257 Yes, I was slightly irritated by his approach to the topic as well; this type of 'blatant objectivity' to the point of neutrality is certainly a choice many journalists adhere to (many to their detriment), but as a professor (him, not me), I was hoping for a staunch perspective, and was somewhat disappointed. Is he perhaps running for office? Or maybe Harvard fires people easily for holding views incongruent with their wealthy stakeholders. As our culture leans towards authoritarianism, no one's job is safe.

[@Nottotv]

Americans are really OK with their retirement money being used against them.🤡. No surprises here.

[@Bigbudd0045]

Congress wont pass shit, and even if they did the Courts would strike it down. The billionaires are done pretending we get a say.

[@cynthiacarlisi9165]

Private equity lessons from this Harvard professor reveal a lot about USA and the wealth gap.

[@JosephREkins]

Private equity rarely has a long view . I love how he discusses things in a “maybe they will…” way . I think the results are in as to what private equity ‘s impact and behavior has been and will be in the future

[@avocadoarmadillo7031]

Yup. Net present value and discounting strongly incentivize short-term thinking. In the mining sector we see this in how traditional NPV of a 10 year mine vs a 20 year mine (with each mine producing the same ounces of gold annually) results in the two mines having very similar valuation, due to the value of future incomes exponentially declining. This can result in thinking a quarter or a year ahead, when thinking a decade ahead would be more desirable.

[@BoiseTriathlete]

“The Problem of Twelve: When a Few Financial Institutions Control Everything” is “the book” he refers to, to save others the trouble

[@absoluteapricot]

Thank you 👍

[@Emc4421]

“I think capitalism depends on some level of transparency of how it’s functioning. And not just the bottom line, or unemployment numbers. But HOW capitalism functions, how workers are being treated, how consumers are being treated, and all of that depends on disclosure. And Private Equity is still not engaging.” 👏👏👏 As someone who is currently a broke teacher who’s credit card got declined trying to buy a late night Gyro last night, and who has family that are recent Harvard Business graduate themselves, who do very very well. The stories I hear from behind the scenes are staggering. What goes on in the high level business world is kept hush hush to the public because if teachers really found out how their pension money was used, or the lavish lives its funding, and how businesses gut hospitals, schools, housing, and local business for profit, they’re would be riots. French Revolution riots of the public really had a peak behind the curtain. And they know that; and they want to keep their privileged lifestyles, so they lobby and make sure that it stays hush hush and hard to track.

[@ZhangWeiMenacing]

The French Revolution was a disaster for culture

[@irwinsaltzman979]

Thank you. Pensions are one form of, but billionaires also engaged in private equity. More and more condensed to a few people.

[@HolisticTraumaTherapy]

This 😊

[@EscapeCondition]

There are articles on those things and instead people focus on reality shows and political theater. The system is designed to make them not care.

[@Mockduck2020]

If people just opened their eyes it’s right there in front of all of us. Of course there is not transparency, who would ok that behavior?

[@dflask44]

“…They’ll get it. They’ll get it all from you, sooner or later, 'cause they own this f***ing place. It's a big club, and you ain’t in it. You and I are not in the big club…” -George Carlin

[@NewChannel-dx2mu]

Imagine having someone living in your head, and not paying any rent at all. "Rent free" you might say

[@girumzemichael704]

@@Knaeben Nooo, that’s not what they think; they say we the people are the club.

[@LanguagesWithAndrew]

What an utterly worthless and irrelevant comment, and what's worse is that you and those upvoting you think it's the opposite and that it's clever, cutting, and insightful - it is the opposite of those three things. You quoted a stand-up comic on a video about private equity, of which you almost certainly didn't even watch. Well done. Brilliant.

[@wendylee7542]

They think they are the club. They can have their club. They will get down on their knees to polish that club. It’s happened before. While we live in tall grass and pines and simplicity.

[@prolific1518]

​@@Knaeben Dem voters really think a party being promoted by rich people will support the average citizen. True low IQ thinking.

[@onedroprule]

Incredibly interesting. Between the black boxes of AI and the black boxes of private equity, i see a strong need for transparency work in the future.

[@pjt3887]

Black Rock used to be called halliburton which was a Black ops for the CIA and FBI. It currently buys up every single available family home and rents it out for three times what it should be renting for. They're also involved in doing anything else that's sketchy that's harming the environment or the people that occupy it. Yet it's been given this legitimacy of making it on the stock exchange. Pretty sickening when you learn about the history of the CIA in the 80's with Freeway Ric importing all the crack cocaine into particularly black neighborhoods and watching it roll out to everyone else. Yes, we should definitely be keeping an eye on private equity.

[@cswanson4476]

One of the fundamental consequences of AI will be an accelerated disappearance of transparency. There is no telling what an AI is “thinking”, first of all. But also, AIs will become ever more masterful at masquerading. Ascertaining their participation in any interaction with technology will be increasingly difficult. This includes indirect interaction: like the customer telephone support person-a real person-reciting from an AI-generated menu of responses. How our daily options are shaped and sequenced, how our attention is curated and directed, how our environment is constructed and operated, will all be conducted behind an opaque veil.

[@mikeomalley2460]

The irony of Harvard business school posting this isn’t lost on me

[@Corywick]

😅🎉🎉🎉me either

[@tor4472]

Must be really bad

[@bpb5541]

Me either. But once again folks don't know what they don't know. ❤

[@KeithScott-d7f]

Exactly

[@inthehouse1960]

Companies that provide basic needs like food, medical care, and housing should not be allowed to be bought up by private equity firms that only exist by increasing profits. Why do you think we have a housing crisis in the US? Private equity is buying whole neighborhoods, condos, and apartments, and turning them into short-term vacation rentals or sitting on them keeping them vacant as they drive up rent and purchase prices. There are entire condo complexes in Denver and Seattle that are owned by private equity firms and every unit is a vacation rental or vacant.

[@Goonfn99]

How do you know what they’re investing in? You can’t! That’s the power they have, it’s in the name of

[@inthehouse1960]

@@Goonfn99 yep. They're not publicly traded so no oversight, regulation, or tax enforcement.

[@ntl9974]

Yes

[@ChrisTiger-s2n]

Yes, we need ethical politicians to force this change. In our system, the only advocate the “common” citizen has is the government; else, these wealthy companies will stream roll us

[@null4624]

The Professor practically summarizes the book New Tycoons.

[@sonyjoseph5426]

That's all you got out of this program , you must have been the kid who looked at window in grade school watching squirrels

[@null4624]

@@sonyjoseph5426 Not sure why you need to empower any of your words by such. Please enlighten me, what is so new about private equity in this talk besides the nearly centralized distribution of even fewer key players since writing of NT ?

[@Rust_Rust_Rust]

​@@sonyjoseph5426If anything it shows that he has done even more research on this topic rather than "watching squirrels" by drawing a connection to a book he read...

[@worldcitizen966]

Private Equity companies are a blight on humanity.

[@ZhangWeiMenacing]

Trade unions are a bigger blight

[@brennanpilcher4374]

​@@ZhangWeiMenacingyeah, how dare the workers band together to fight for better wages and improved working conditions! Keep licking those boots, maybe one of the CEOs will decide to keep you in their mansion like a pet

[@alaric_3015]

​@@brennanpilcher4374rent seeking wanting more wages without actually creating wealth but being against innovation instead is what the other guy probably meant, which are no different than the so called CEOs and Shareholders

[@ZhangWeiMenacing]

@@brennanpilcher4374 lol lmao. Take the tinfoil hat off

[@brennanpilcher4374]

@@ZhangWeiMenacing try learning what idioms mean before you use them, because that's a nonsensical reply

[@statebased]

Terrible music, interesting content.

[@TheGreekGodOfWallStreet]

Good music

[@Ferdinand208]

Yep, the music means: you don't have to listen yet because this is the intro. So, hopefully, nothing in that intro was important.

[@Brucesmith-eq4hw]

What do you mean by terrible music?The content can be heard and there's no noise.

[@statebased]

It is subjective, but half way through the video, the same repetitive "empty of culture" music came back, and I thought, I can decide to quit because of this, and I did.

[@cwpv2477]

makes it a bit creepy lol

[@EthelbertCoyote]

Thank you I am an animator and listen to talks like this in the background to educate myself on tends in economics, science, politics and human behavior. This was one of the best rounded discussions I have heard on the topic. Thank you!

[@acousticarchivefortwayne930]

John, thanks for the nuts and bolts explanation of these financial markets. So the long and short is companies are accumulating more and more concentrated wealth and political power without oversight. What's their end game, to maximize their return and eventually own everything? This all comes at the elimination of competition, cutting worker wages and pensions, and entities that expect taxpayers to bail them out when they wreck the financial system. Sounds like corporate welfare to me at the expense of everyone else. Just because they've eliminated laws that prevent them from do something doesn't mean it's morally right for them to do it. People who exhibit antisocial behaviors, including manipulation, deceit, aggression, and a lack of empathy for others are commonly known as sociopaths.

[@Allastrology]

Very well said

[@Annie-q6i]

Psychopaths

[@frederickburns1739]

Who bailout BANK OF AMERICA!?!?!? THE AMERICAN TAXPAYERS!!!!!

[@kingthame]

Can we talk about Harvard's endowment fund, that's larger than the GDP of most countries, fueling Private Equity.

[@GourmetGarbage]

Not on this channel!

[@Feedback406]

Dam that’s shady asf

[@SamLee-ds7fi]

Colleges don't pay taxes

[@andrewfoster883]

50 Billion

[@twofox7001]

Brilliant

[@morgandraegar7301]

Greed is the downfall of man. WAKE UP!

[@gretasimmons8987]

You are more than right. ❤😊👍

[@tj7870]

greed and religion!

[@MbisonBalrog]

Isn’t that what Christianity with its deadly sins suppose teach and prevent?

[@Sentrme]

There is NO such thing as 'Infinite profit".

[@JoeCuv]

Corporations failing to innovate and just appease short term profits for Stockholders. They tell lies to the public and so do the politicians in their pockets. It's a disaster.

[@leondonald]

The financial sector and derivatives may have a Hindenburg moment if the US Treasury market collapses. Rising market illiquidity in the $14.8 trillion U.S. Treasury market, according to Bank of America, might affect other financial markets.

[@Martina-Alan]

There are many opportunities to make fantastic profits, especially in this depressed market, but such complex transactions can only be carried out by seasoned market professionals.

[@DallisonScramosin]

wholeheartedly concur, which is why I like giving an investing coach responsibility for making everyday decisions. Given their specialized knowledge and study, as well as the fact that every one of their skills is aimed on leveraging risk for its asymmetrical potential and limiting it as a buffer against certain unfavorable turns, it is practically impossible for them to underperform. Over the course of more than two years, I've worked with an investment coach and earned over a million dollars.

[@SladeCirrincione]

How can I reach this advisers of yours? because I'm seeking for a more effective investment approach on my savings?

[@DallisonScramosin]

My CFA Vivian Jean Wilhelm, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@SladeCirrincione]

Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.

[@sco0tpa]

CPA firms are increasingly owned by private equity. If you wonder why your audit and tax preparation bill is so high, ask about the firms' ownership structure. The partners no longer have the final say in pricing. These firms are under tremendous pressure to take over your accounting so they can get recurring revenue, and to charge higher prices for taxes and audit. On the expense side, they cut costs by offshoring all of these services. Yes, your taxes are being prepared by someone in the Philippines or India making $25 an hour. A good portion of your audits are the same. And yes, your accounting team is overseas with your only accounting contact that you are aware of located in the USA. And yes they still charge you USA rates per hour and don't disclose where your financial services are being outsourced to. Of course not all firms are like this but increasingly, many are owned by PE and to compete, many firms follow this model.

[@bennwalton]

And without guardrails and transparency, it's only logical that it would progress this way. Failed state

[@ddlang2514]

Interesting!

[@victorydiaz11]

This can be seen in any sector really. Finance, insurance, even transportation relies on overseas workers. We’re due for an awakening.

[@Jaxksworld]

Wow this is super interesting! Thank you for raising awareness about this!

[@Aspenlogic]

I dumped my previous accounting firm (that gobbled up my old CPA's practice) after noticing they slipped in new annual engagement terms allowing them to ship my books overseas!

[@egx161]

I didn’t go to Harvard and I can see what is happening. Fewer have more and working people are getting hammered. It’s not sustainable. Greed is not good

[@vickijohnson9367]

And, until the deregulated capital in finance is again regulated, including insurance, implodes completely, maximum civilization pain, we will not be able to stop fake finance from owning this nation. They had to make it all fraud to maintain financial status. Just like all the wars, aging decrepit empires will sacrifice citizens to maintain power.

[@BeekersSqueakers]

It never was. It's sad it took more than 40 years for people to figure that out

[@coreyham3753]

Greed has always been there throughout history.

[@engyn0]

​@@BeekersSqueakerswhoops. America just voted to keep this exploitation rolling. So sad.

[@BeekersSqueakers]

@@engyn0 Yep, so sad. I'm all out of sympathy for morons.

[@jayski9410]

The "dark nature" of private equity feels a lot like the credit default swaps of our last financial disaster. We have so much information about every market and commodity on a minute by minute basis, the financial world feels transparent. But there are still pockets of invisibility and private equity is one of those. They've become another derivative. And that's fine as long as everything is humming along normally. But if we hit another bump in the road like 2008, it will be Lehman Brothers and Bear Stearns all over again. Only this time, they'll take pension funds down with them.

[@TinyFlav]

Tomorrow is election day but this also scares the crap out of me. The amount of wealth and influence that companies have is terrifying.

[@Quantick]

Well buckle up baby cuz we about to all be REALLY poor! Hahaha (I’m laughing cuz I’m fucked too)

[@rebeccaboudreau7589]

Yep and then half of America hired Trump 🤦🏼‍♀️…..again

[@45414]

1:10 actual start

[@OGbqze]

1:10 never again 👀

[@jacobjackson-fx9gx]

I think the first minute was an important introduction

[@dbz_feats7723]

Dumb comment

[@str1cklybizn3ss67]

get ready. it's about to get more concentrated.

[@Noneofyourdambusssiness]

All you have to do is look at the S&P 500 to see that concentration. Those top 7 stocks (Mag 7) make up over 30% of the exchange valued at over $ 15 trillion.

[@elibarbq]

It's over 50%.

[@wintertimetrio]

All the healthcare points already exist with private ownership/provision just to a slightly lesser degree. That is why it is so hard to tell if private healthcare is better or not than public (and jails etc), and why US health outcomes are the same or worse despite the (much) greater cost

[@joshuabrown903]

This is incredibly important information, it relates to 20% of the economy, if not more, including pension funds of public servants. The lack of transparency of a private entity funded by the public is inherently problematic.

[@RyanDMarrs]

About as concerning as the federal government making up 22+% of GDP!

[@SteveBonario]

He said two words that should be at the heart of every business regulation: accountability and transparency. When these are gone or only given lip service, you get what we have today.

[@ahusseincpa]

🤫 Sounds like there is approximately 30% of the economy controlled one way or another by the top 1% who operate in total silence due to concentration of ownership 📝

[@elibarbq]

Try over 50%.

[@KeithScott-d7f]

That’s it

[@Mirristal]

Private equity is also destroying housing. Buying up apartments and raising the cost of rent. Great people!

[@IanCurls123]

Some people spend Friday nights at the bar. Me? I spend it watching videos from Harvard about private equity.

[@kojack635]

Nice

[@Stoat_Lord]

Same but usually woodworking videos lol

[@joshuamajor4862]

Jokes on you, I'm at the bar playing this on the speakers. Everyone's yelling at me for killing the vibe, but it's important info

[@lordjoey9505]

Alright, nerd

[@tome4403]

I’ve found that if I’m doing something different from “people,” I’m usually on the right path. “People” are idiots. (Applies to both people in bars and people in the investment markets.)

[@ermz13]

sometimes i think i should've studied finance/economics business is general it's fascinating to me

[@beatscatmommy1735]

Private equity bought all ski mountains in United states and price of lift tickets are insane. They are vampires!

[@austinbar266]

Invest judiciously, keep a stop loss figure. Shuffle between debt and equity wherever the ratio goes too off your target. As for the target, I recommend a Ratio like this Debt % should be equal to your age in years. If you are 20, debt is 20%, reset in equity. If the market falls or rises drastically, your debt % will change, which you should rebalance to 20% and bring back equity to 80%. Thus you would have bought low or booked profit depending on if it was a crash or a bull run.

[@rogerwheelers4322]

Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.

[@joshbarney114]

This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.

[@FabioOdelega876]

This is exactly how i wish to get my finances coordinated ahead of retirement. Can you recommend the financial advisor you used to get ahead?

[@joshbarney114]

‘’Marisa Michelle Litwinsky’’ is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@FabioOdelega876]

Thank you for this tip. it was easy to find your coach. and I conducted thorough research on her credentials before scheduling a call with her. Based on her résumé, she appears to possess a high level of proficiency, and I am grateful for the opportunity to speak with her.

[@klt9874]

This is so scary and I wish more people not only paid attention, but actually understood the connections.

[@marcobyonline]

I found this very insightful. Thank you for the production. I think the concept of Leverage (borrowing someone else’s money to make money) is the wildest finesse move we allow daily. I don’t know who to be upset with.

[@BoloBouncer]

We should create a financial instrument called "Private Equity-Backed Securities" to bet on the perceived value of each company that's bought and traded. Maybe layer them into tranches!

[@Jalyemengesha]

It has always been concentrated!!!!

[@theonlycaulfield]

There has never before been as much of a concentration in index funds as there is now, which is what much of the video is about.

[@I_am_ka]

​@@theonlycaulfieldIncumbents want thst by design = ALL of Trad-Fi wrapped into ETF's. While DeFi & DLT will be the new rails/silo everything will flow threw for much faster returns

[@Ferdinand208]

​@@theonlycaulfieldThere is so much concentration in these indexes with thousands of companies! They used to be much more diverse in a few hundred companies.😂

[@theonlycaulfield]

@@Ferdinand208 Nope, you've misinterpreted the video and my comment. It is not that index funds are concentrated in a select few stocks, but that the ownership of the stock market is concentrated in the index funds, to an extent upwards to 30% of the entire market. The index fund concentration is great enough that it has changed the way the market moves. I now realize the parent comment also misinterpreted the video given your comment.

[@theonlycaulfield]

@@Jalyemengesha Also, to add to my other comments, and to respond to "it has always been concentrated", the market concentration in the top 10 stocks is in the 98th percentile of the historical concentration, so no, the market has not historically been as concentrated in a select few stocks as it is now.

[@clamato54]

Why is there a double standard in legal obligations for transparency? SEC rules might be overburdening but why do they even exist at all if private equity just gets a waiver? All I can say is the companies with something to hide are not on my investment radar anyway.

[@Praisethesunson]

Because the rich paid good money to codify rules for thee and not for me.

[@Mrmeatball1123]

“Performance is not a matter of public consumption” … refreshing to hear

[@Hex5078]

At this point I’d believe the index funds had something to do with the music choice because they quite literally can if wanted

[@FYMASMD]

Just a matter of time before the whole system implodes. The worst is yet to come,its on the horizon. Glad I’m old.

[@Rainy_Day12234]

The level of debt in the system is troubling.

[@SOccerisgodable]

This was a great video! Thank you for bringing a lot of things to attention for the general public that for the most part would only be known if you worked in the industry.

[@Aviverma1]

Very insightful

[@DylanSmith-vj7qo]

learning a lot from this guy. i never thought of the bottom line (employment %) vs how internally capitalism works (some other metrics)

[@nightoftheworld]

Chris Hedges has done some great reporting on the horrors of private equity 💀

[@tylertheobald6407]

Great video, thank you

[@moiracneill6478]

Scary. The current debt structure, from personal debt, mortgages, credit card debt etc, versus average savings is bad. If there is a downturn and people are unemployed bank debt, is connected to insurance companies. If people default on mortgages, credit card debt, and the continuing insurance claims are rising, liquidity is then shrinking in the market place. So in 1929, the debt to wages to higher taxation of the poor, suppressed wages against inflation, easy credit, connection of banks to insurance companies, spread the market crash into the economy. Now its all linked again. They separated things to stop another crash, but... the liquidity crisis we see, is causing serious economic issues . Wages are too low. Workers are borrowing to pay for groceries, pay check to pay check. Bad.

[@MakeItHappen223]

Yup I work at a bank and ppl are hurting fr

[@bartguim4823]

Great info, way too many camera cuts, made me dizzy

[@michaelthompson1379]

Thank you for sharing!

[@wingman2k]

This is damn good content

[@dennismorris7573]

Excellent thoughts and concerns.

[@yrp237]

Private equity purchase the business, by loading it up with DEBT, remove the most expensive people who often hold most of the institutional knowledge. They then bring in their MBA sidekicks McKinsey who they pay vast sums and other worthless execs who no nothing about the business. They kill all extra perks, bonuses & goodwill that the employees have enjoyed, so the employees with options jump ship. That leaves the biz with 3rd tier employees many who get battlefield promotions to spots they are not qualified for. The business suffers and things go down quickly. Because of the debt they cant invest back into the business so it stagnates & goes backwards. Eventually its sold whole or in parts. This often takes approx 8 years to run a great biz into the ground and during those years McKinsey & the PE assholes suck out big paychecks. Then they move on to the next victim. Over & over. Been through it myself!

[@DevanAsher]

I feel investors need to be focus on under-the-radar stocks, and considering the current rollercoaster nature of the stock market, Because 20% of my $75k portfolio comprises of plummeting stocks which were once revered and i don't know where to go here out of devastation.

[@SarahMcCarthy-gy7qi]

I agree that there are strategies that can be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience

[@DynamicConstructionz]

Many people minimise the role of advisors until their own feelings get enraged. When I needed a boost to keep my firm viable years ago, I looked for licensed advisors and found someone with the highest qualifications. She has contributed to my reserve increasing to over $550,000 despite inflation.

[@HardyThomasD.]

I've been looking to get one, but have been kind of relaxed about it. Could you recommend your advisor? I'll be happy to use some help.

[@DynamicConstructionz]

My CFA is Karen Marie Gendron, a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..

[@JoeGerald213]

Just ran an online search on her name and came across her website, pretty well educated. thank you for sharing.

[@tarekahmad2978]

I didn't hear anything regarding the implications of the IT systemic implications of the structure of the market and settlement of transactions

[@daveedbinne4116]

Finally someone who gets it. Sadly he's not in Government. Sad.

[@AkireMaru]

You’d be surprised how many smart people are in government. You just won’t meet them at a front desk.

[@blakepollock8074]

government has a lot of checks and balances to stop problem solvers from being effective problem solvers.

[@scottmagruder9157]

Money is the root of all

[@bo1341]

Sadly I believe what happened to financial sector is not lock to that particular industry and is happening everywhere in the world economy. Capital, production and wealth detain by the 1% are at peak records. Last time we saw inequality ratio that high, we were at the end of the 19century with the coal-railway-industry conglomerate as the Rockefeller and others.

[@Lomhow]

The US hasn't been a Free Market for decades now...

[@xa0wnerx]

Imagine voting when both parties are controlled by the big corporations and Israel and give them bailouts.

[@johnezzard680]

Concentration brought to you by graduates of Harvard

[@KeithScott-d7f]

😅

[@midolex2757]

Everytime I read about large companies going through M/A, Asia , the US or Europe, I check the parent companies of those foreign investors just to satisfy my curiosity. Some of them are originated from UAE prince, other middle Eastern companies, KKR, etc. My father in law lives in a nursing home in Michigan, and his place was acquired by a private firm twice in the last three years. Every acquisition came with closing of one on-site restaurant and less choices in the menu offered by other on-site restaurants.

[@wbrown9155]

You can say it is the American equivalent to the House of Lords in the UK which now the UK is in discussion of getting rid of that institution. That’s what happens when powerful people get together and make moves. The moves they make benefit them. That doesn’t mean it benefits everyone.

[@petermcmahan4975]

Are index funds and PE not separate issues?

[@noablaespano]

This reminded me of the realistate market when my high rise apartment was sold for over 175 million. The new owner raised the rental for 2 years and sold it for over 300 million. That new owner raised the rental again that most of the tenants moved out. Big cities more people have to have roommates.

[@catherineesavas8466]

Outstanding!

[@suesandlin-plaehn3565]

Excellent content

[@chukgek-ew7il]

aptly timed

[@obsidianjane4413]

Private equity is the ultimate form of rent seeking in capitalism. It produces very little utility in the markets or even for the companies that could not be done by other mechanisms and serves mostly to extract wealth out of the efforts of others.

[@sonyjoseph5426]

Good lesson ..

[@sparklemotion86]

Yes we are. So over this.

[@BicycleFunk]

The nation just doubled down on this.

[@UnrepresentedAmerican]

Thank You

[@theresolutemind9538]

As an American, your (general public) enjoyment of freedom should lead to a knowledge of the landscape of WORLDVIEWS. Often, the elites who run an Index Fund share some particular worldview. The public is entitled to know and understand that worldview.

[@Starfish2145]

Private equity is also buying up veterinary practices.

[@AkSan-o1n]

Yes! This is happening nationwide w/ apartment complexes and unused property (soon to be malls w/ apartments). Enterprise and government funding shouldn’t collaborate on government issues. He’s right it’s going to get messy.

[@Bulldozz1-1]

Also PE don’t have mark to market requirements

[@DmDrae]

I work in a field that’s ran by PE. It’s very, very tough. Very much a sink or swim situation every day. We consider ourselves Spartans compared to the average US office or onsite employee

[@BillFotsch]

Harvard / HBS and HBR has become more and more dependent on PE companies like KKR, to the point that HBR articles and HBS cases are now written in ways that promote KKR's narrative, burying points that are negative. So much for Veritas. This video is a refreshing change.

[@mikefialko2979]

And I find it strange that private equity firms that own hospitals get money for treating patients from Medicare.

[@lawsonj39]

Private equity's effect on healthcare-related practices highlights the fact that the problems of the healthcare industry--including skyrocketing costs of medical care--aren't restricted to health insurance and Big Pharma. We don't simply need a single-payer model like Medicare for All; we actually need to take these industries out of private hands and nationalize healthcare a la Britain's National Health Service.

[@vivalaleta]

Didn't Medicare used to be only under the government's care?

[@Rickdcpr]

great video

[@PumpkinPotatoPie]

the music shouldn’t be as loud or louder than the contect

[@benjamineprg4249]

Working with professionals who have expertise and experience in the market can provide valuable insights and guidance to navigate volatile times.

[@benjamineprg4249]

This is why it's crucial to have professional guidance

[@Deitricklaverne]

Indeed Financial planning and retirement strategies are crucial, especially in today's economic climate. With global economic fluctuations and uncertainties, it's essential to have a solid plan in place to protect your financial future.

[@Deitricklaverne]

You need to get a financial planner or expert on investments to aid guide anddiversify your portfolio to commodities index funds, digital assets etc, to provide illumination and guidance in the financial markets.

[@V.stones]

Honestly this cannot be overemphasized, helping people mitigate unforseen circumstances and mistakes .It's always good to have a financial plan,

[@V.stones]

Shannon Saccocia, Chief Investment Officer at SVB Private, recommends that investors refrain from making big changes to their portfolios without consulting a financial planner and try to stick with their long-term financial plan.

[@baltakatei]

09:49 Erosion of uncodeïfied norms in the medical industry due to pressure from private equity to min-max profits at the expense of patient care. Over-prescription of opioids (e.g. the Sackler family and Purdue Pharma in the 1990s) and regulatory capture of pharmaceutical markets being used to create artificial scarcity from generics (e.g. Martin Shkreli and Turning Pharmaceuticals in 2010s) come to mind.

[@ScroogeofEdinburgh]

Amazing Sir!

[@timstevens3361]

canada has 3 book store chains coles, chapters, indigo they are ALL owned by 1 person how d fk does that even happen ?

[@Annie-q6i]

Everyone should contact every legislator and demand legislation to remedy. Congress is responsible for this unjust situation.

[@trailerhaul8200]

The rich and the powerful marry together. It is not gonna happen

[@inthehouse1960]

I don't go to any medical doctor who is part of a practice, clinic, or hospital owned by private equity. I use micro practices owned by one or a small group of doctors and pay out of pocket. Every time I went to a private equity medical facility, I was told to get unnecessary tests, go to another doctor for more specialized care, or encouraged to have a very expensive (unnecessary) procedure, including surgery. NOPE. Not anymore.

[@BicycleFunk]

Interesting juxtaposition of upbeat music.

[@BicycleFunk]

I have never really thought about my pension fund, especially with the insight that it is apparently making life worse for me while I am not retired. We should be able to have a stake in how these funds are invested. I really appreciate this information!

[@mcastaneda]

Moral of the story: we need accountability in finance, private or otherwise. Also sucks that if any of the fat cats blow it, tax payers gotta foot the bill

[@robburgess8898]

That’s what accountants and auditors are supposed to do, but companies are so complex now so accountants haven’t been able to keep up.

[@carin4333]

Thanks very interesting. Are there private equity funds being created outside of the traditional elites and billionaire class, formed by women and diverse individuals? Do you discuss this in your book. Particularly my firm is starting a private investment fund.

[@Test-rw6ol]

I had the same question

[@SlickerJazz]

Can I get a version of this with better mixed background music

[@vivalaleta]

Restore our anti monopoly laws!

[@johnisdoe]

He forgot to mention they also strip the companies they sell for parts, like that popular retail chain i forgot the name of.

[@hotttt28]

Poor regulation of monopolies ,Private Equity Will Kill Us All !

[@royprovins7037]

Fixing wall street is easy. Ban stock buybacks. Ban short selling tax short term capital gains at 50 percent and tax carried interest

[@prolific1518]

Banning short selling is stupid. Plenty of fraudulent companies have gotten exposed by short sellers.

[@ZhangWeiMenacing]

You’d kill innovation and economic progress with this proposal

[@andrewbrookes7025]

He's talking about private equity not publicly traded companies