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Anne Walsh’s Passion Is to Bring More Women to Finance
Bloomberg Originals· 2025-07-09 15:10
Industry Gender Diversity - The industry needs to attract more women, as current portrayals like "Wolf of Wall Street" are unattractive to women and young people seeking purposeful careers [1] - Investment management and asset management can be framed as making a difference, appealing to those seeking purposeful careers [1] - The industry should attract more women, as it manages retirement money and college savings [2] Guggenheim's Performance & Goals - Guggenheim's team is composed of 30% women, which is above the industry average [2] - Guggenheim aims to increase the percentage of women in its team to reflect the population, targeting a 50/50 gender balance [2]
Broken Dreams and Millions Lost: The IM Academy Story | Bloomberg Investigates
Bloomberg Originals· 2025-07-09 13:01
Business Model & Claims - IM Academy sells a dream of financial freedom through online trading education [1] - The company claims members can learn to trade online, make money, and become rich [10] - It emphasizes personal empowerment and escaping the "nine-to-five" corporate life [1] - The company uses social media influencers to showcase a luxurious lifestyle to attract new members [9] - The company's founder aimed to build a billion-dollar business with a million users [15] Recruitment & MLM Structure - IM Academy operates on a multi-level marketing (MLM) structure, rewarding members for recruiting new members [40][41] - Recruiting is heavily incentivized, with commissions and rank advancements tied to the number of recruits [40][44] - The company encourages aggressive recruitment tactics, urging members to prospect multiple people daily [39] - The company's income disclosure revealed that 94% of members earned less than they paid for their subscription in a year [49] - A small percentage (005%) at the top earned an average of $14 million per year [50] Trading & Education - IM Academy offers online trading lessons, initially focused on foreign exchange (Forex) markets [8] - Members receive "signals" or predictions on price movements, but these are risky and can lead to losses [31][34] - The company claims to teach members to trade various assets, including shares and cryptocurrencies [30][31] - Critics argue that most members make money through recruiting rather than trading [43] - The company is not regulated to provide financial advice, and the founder has never registered as a broker [36][37] Ethical & Legal Concerns - The company faces accusations of fraud, misleading advertising, and running a pyramidal scheme [2][69] - The company's founder has a criminal record and some promoters lack formal financial education [37] - The company has been investigated by the FTC for deceptive or unfair actions [52] - The company has faced numerous complaints, with people reporting significant financial losses and feelings of being brainwashed [57][58][59] - The company isolates members from their families and friends, encouraging them to associate only with other members [55][56]
Jane Fraser on Being the Only Woman Leading a Major US Bank
Bloomberg Originals· 2025-07-08 17:47
Diversity & Inclusion - The industry acknowledges the underrepresentation of women in leadership roles, specifically noting only one woman leading a major US bank [1] - Unconscious or conscious biases exist within the system, hindering women's advancement [2] - Diversity is not just a matter of fairness but a competitive advantage, as excluding women cuts off access to 50% of the workforce [4] - The business case for diversity is overwhelmingly clear, and it's frustrating when people don't recognize it [4] Challenges & Opportunities - It's frustrating when women are asked questions that men in similar positions are not [3] - The focus should be on providing opportunities for everyone, creating a win-win situation rather than a zero-sum game [3] - Breaking through and achieving gender equality should become business as usual, not an unusual occurrence [2]
What It’s Really Like for Women in Finance | Bullish
Bloomberg Originals· 2025-07-08 13:01
Industry Trends & Challenges - The finance industry is seeing a growing number of powerful women managing vast amounts of capital, indicating a shift in the traditionally male-dominated field [1][2] - The industry average for women on finance teams is lower than Guggenheim's 30%, highlighting a need for further progress towards gender parity [6] - There's a perception that "greed is good," as portrayed in media like "Wolf of Wall Street," which may deter women and young people seeking purposeful careers from entering the finance industry [5] - DEI (Diversity, Equity, and Inclusion) initiatives are facing pushback, potentially slowing down the momentum of increasing diversity among fund managers and founders [23][25] - Some individuals still hold biases, such as the belief that "chicks can't do math," revealing persistent stereotypes in the finance sector [31] Women's Impact & Opportunities - Women control approximately 80% of global discretionary spending, demonstrating their significant economic influence [13] - Women are projected to control over 50% of the global wealth market in the next five years, indicating a major shift in financial power [13] - Women-led firms controlled only 0.7% of assets in alternative investments as of 2021, revealing a significant disparity in asset control [14] - Companies with more gender diversity on executive teams are 25% more likely to achieve above-average profitability, underscoring the business case for inclusion and diversity [47] - Women are finding success in less institutionalized areas like music, media, and entertainment, building businesses in less trafficked sectors [30] Leadership & Progress - As of the report's timeline, Jane Fraser is the only woman to lead a major US bank, highlighting the ongoing underrepresentation of women in top leadership positions [38] - Citigroup moves $5 trillion a day, exceeding the GDP of France, showcasing the scale of responsibility held by its CEO [41] - The trading floor environment is more positive and diverse compared to the 1980s, indicating cultural transformations within financial institutions [48] - Progress for women in finance is not always linear, and there's a responsibility to continue advocating for change for future generations [34][50]
How Hampton Inn Became Hilton's Silent Moneymaker
Bloomberg Originals· 2025-07-07 08:00
- This is the Hampton Inn. The red trimmed sign. The familiar beige box.Inside, a waffle station you man yourself. Crisp sheets. Light switches right where you'd expect.And that little sign that promises 100% satisfaction. Across the world, the aesthetic is pretty similar. So how did one of America's most predictable hotels become one of its most profitable.In the 1950s through the 1970s, there were two types of hotels - full service and motels. Full service offered onsite dining options in addition to othe ...
The South American Criminal Empire Growing in the Shadows
Bloomberg Originals· 2025-07-04 14:00
PCC hoje é a maior organização criminosa da América do Sul, né. Uma das que mais crescem no mundo atualmente e já atingiu o status de organização mafiosa. Então eu hoje sou um um promotor, vamos dizer, marcado para morrer pelo PCC.Eu ando com escolta eh armada 24 horas por dia. Infelizmente da minha carreira, elas me custaram a minha liberdade. Para as pessoas que entram no sistema prisional, elas vão se associar ao PCC.Por quê. Porque elas não têm alternativa. Então o PCC de certa maneira colocou ordem den ...
How Trump Is Helping China, Brazil and BRICS
Bloomberg Originals· 2025-07-04 08:00
Geopolitical Landscape - The report highlights the decline of US influence and the rise of China, exemplified by Ford's abandonment of a plant in Brazil and BYD's subsequent modernization to produce electric cars [1] - BRICS aims to rival the US-led G7, advocating for a multipolar world with multiple centers of geopolitical influence [2][3] - The trade war initiated by the US has inadvertently strengthened solidarity among BRICS nations, positioning them as a counterforce [2] - Russia's interest in expanding BRICS membership is partly driven by its desire to offset diplomatic isolation following 2022 [8] Economic Growth and Influence - BRICS surpassed the G7 in global GDP (by purchasing power parity) in 2019, and with the expanded lineup, its share is nearly 40% [7] - Trade among the original five BRICS members rose 40% to over 700 billion from 2021 to 2024, partly due to sanctions imposed on Russia [9] - China's influence within BRICS is significant, using the bloc to enhance its economic and political power globally [10][11] Challenges and Opportunities - Trade relationships within BRICS are less developed compared to blocs like the EU, as BRICS is not a formal trading bloc [13] - Tensions among BRICS members hinder the formation of a completely united front, although the New Development Bank represents a successful collaborative effort [14] - BRICS countries support reduced trade in US dollars to diminish Western economic dominance [10]
Celebrity Lawyer Alex Spiro on Defending Jay-Z
Bloomberg Originals· 2025-07-03 18:00
The victory you got for Jay-Z seemed like classic you. You got the case dismissed. You're coming back with a defamation suit.You called the accuser's lawyer a 1800 lawyer. Why were you so aggressive in defending him. Cuz he was completely innocent and because I felt that the system was being weaponized in an improper way.And what does that tell you about the system. The system is very broken. It's probably, you know, we spend so much time talking about other things, but it is one of the original problems in ...
Mellody Hobson: 'Capitalism Is the Best System'
Bloomberg Originals· 2025-07-03 16:01
It feels like after 2008 in particular that you have a kind of an American public who look at the world of finance and say money was only made for specific people. Well, I don't agree with that. So, first and foremost, I am a capitalist.The capitalist system is the best system in the world. As people challenge it, I'm always saying to them, give me a better system. That is not a system that I would tear down.And I think that is what makes dreams come true in this country. 2008 was a traumatic experience cer ...
Inside Brazil’s Biggest Bank Heist
Bloomberg Originals· 2025-07-03 14:39
Eu eu notei que um carro tava descendo na contramão, eu achei estranho. Aí de repente ele parou no cruzamento do Dré e desceu quatro quatro pessoas ali e fuzil gigantesco. Da início, o cara já veio e já chamou a gente e ficar tudo ali, tirar a camisa e ficar na esquina parado.E ali começou o terror. Daí muitos tiros, muitos tiros, muito bagulho de bomba. A cidade nesse momento ela ainda continua sitiada.É um assalto de grandes proporções. Bandidos eh muito bem preparados. Quando eles explodiram o cofre, daí ...