Home
Videos uploaded by user “Milken Institute”
European Values, Identity, and Politics in 2019
 
52:04
Brexit, populism, and the migration crisis have stoked the conflagration over borders and social integration across Europe. Both sides of the debate say the continent's values and identity are under attack—but disagree by whom. In what form does liberal democratic Europe survive this struggle? Moderator Robert Guest Foreign Editor, The Economist Speakers Douglas Alexander Senior Fellow, Harvard Kennedy School; Former UK Minister for Europe Ayaan Hirsi Ali Research Fellow, Hoover Institution, Stanford University; Founder, AHA Foundation Gemma Mortensen Co-Founder, More in Common Douglas Murray Author, The Strange Death of Europe #Brexit #Populism #Politics
Views: 22184 Milken Institute
Lord of the Rings: A Conversation With Five-Time Super Bowl Champion Tom Brady
 
01:02:32
Moderator Jim Gray Sportscaster, Showtime, Fox and WestwoodOne Radio Speaker Tom Brady Quarterback, New England Patriots; Founder, TB12 http://www.milkeninstitute.org/events/conferences/global-conference/2018/ #TomBrady #Patriots #GOAT
Views: 40735 Milken Institute
Psychedelics: Mind-Enhancing Methods to Well-Being
 
59:21
Psychedelic drugs, once dismissed by some as a flashback to 1960s counterculture, have generated a resurgence of mainstream interest in the last few years. According to a study published by the National Institutes of Health, the use of psilocybin mushrooms has taken over as the predominant psychedelic in use globally since the 1970s, ahead of LSD. Will the use of psychedelics ever be universally accepted? Are stigmas associated with drug use and abuse curtailing important research on the true benefits and detriments of these substances? This conversation showcases the expertise of researchers, practitioners, and investors on the cutting edge of the use of psychedelics, and it offers innovative perspectives to help expand our minds and open up to the healing potential of these drugs. Moderator Tim Ferriss Entrepreneur; Author, "Tools of Titans" Speakers Christian Angermayer Founder, Apeiron Investment Group Robin Carhart-Harris Head, Centre for Psychedelic Research, Department of Brain Sciences, Imperial College London Matthew Johnson Principal Investigator, Associate Professor, Johns Hopkins Psychedelic Research Unit, Johns Hopkins University School of Medicine Ayelet Waldman Author, "A Really Good Day: How Microdosing Made a Mega Difference in My Mood, My Marriage, and My Life" globalconference.org #Psychedelics #wellbeing #mindenhancing
Views: 25223 Milken Institute
Sir Richard Branson and Michael Milken in Conversation with Kevin O'Leary
 
51:10
Richard Branson has built some of the world's most successful companies. Michael Milken financed thousands of entrepreneurs who created millions of jobs. And Kevin O'Leary works with founders every day to advance their businesses to the next level. Join us for a discussion about what it takes to translate a big idea into an iconic enterprise, and hear about Richard Branson's mission to democratize space. Moderator Kevin O'Leary Chairman, O'Shares ETFs; Television Personality, "Shark Tank" Speakers Sir Richard Branson Founder, Virgin Group Michael Milken Chairman, Milken Institute #Entrepreneurs #RichardBranson #Leadership
Views: 25547 Milken Institute
Chess and the Art of War: Strategies That Win, from Grandmaster Magnus Carlsen
 
01:01:40
Sponsored by WorldQuant Magnus became a chess grandmaster at 13 and is the highest rated player in the history of chess. How does he achieve such strong results? In a 30-minute discussion Magnus will share his thoughts on strategy and applying lessons from the chess board to real life. Afterwards, Magnus will put his words on display, playing a 10-person "blitz," simultaneously squaring off against CEOs and global leaders, providing a firsthand look at the World Champion in action. Moderator Erik Schatzker, Editor-at-Large, Bloomberg Television Presenter Danny Rensch, International Chess Master; Vice President, Content and Professional Relations, Chess.com Speaker Magnus Carlsen, World Chess Champion #Chess #MagnusCarlsen #ChessTips
Views: 220535 Milken Institute
Copy of In Tech We Trust? A Debate with Peter Thiel and Marc Andreessen
 
57:12
Peter Thiel and Marc Andreessen are Silicon Valley luminaries, epic entrepreneurs and prominent financiers. Both have something to say about where high-tech is taking the world economy, and what is being left behind. Andreessen, co-developer of the first Web browser and now a top venture capitalist, expects software to automate and ultimately dominate most other industries. Thiel, a co-founder of PayPal and an early investor in Facebook, has written in depth about what he considers the stagnation of innovation in fields that others see as emblems of progress: energy, pharmaceuticals, space exploration, nanotech and much more. In fact, Thiel links the austerity gripping the Western world to productivity gains that never happened. Join these acute observers for a unique exchange on science, business and innovation, or the lack thereof.
Views: 104033 Milken Institute
The Evolution of Hedge Funds and the Future of Asset Management
 
53:50
With almost $3 trillion in assets -- and the freedom to invest opportunistically worldwide -- hedge funds have become one of the most important market-moving forces of the last few decades. This panel brings together leading founders of hedge funds and asset managers for a conversation about the evolution of the industry. Some of the questions that will be addressed: With more hedge funds than ever before, how can a manager generate meaningful returns? Are fee structures likely to change significantly with increasing pressure from institutional clients? In this highly personality-driven business, how does the role of a founder change as a fund grows -- and can a fund succeed the person who created it? Moderator Ilana D. Weinstein, Founder and CEO, The IDW Group LLC Speakers Cliff Asness, Co-Founder, Managing Principal and Chief Investment Officer, AQR Capital Management Neil Chriss, Founder and Chief Investment Officer, Hutchin Hill Capital Steven Cohen, Chairman and CEO, Point72 Asset Management; Co-Chair and Co-Founder, Steven & Alexandra Cohen Foundation
Views: 51204 Milken Institute
Global Private Equity Outlook
 
59:50
Moderator Gary Pinkus, Managing Partner, North America, McKinsey & Company Speakers John Connaughton, Co-Managing Partner, Bain Capital LP Bruce Flatt, CEO, Brookfield Asset Management Jonathan Nelson, Founder and CEO, Providence Equity Partners David Rubenstein, Co-Founder and Co-CEO, The Carlyle Group 2016 was another exceptional year for private equity investment. Capital committed to traditional funds, co-investments, separate accounts and direct deals hit a record of $681 billion, beating the previous high set in 2015 by 9 percent. This session will examine major trends in private equity with a focus on the investment opportunities and the economic landscape. Should more private equity funds consider permanent capital vehicles for investing? Is the fee structure sustainable? Are too many firms chasing the same deals, crowding the market and making new targets harder to find? Are multi-strategy funds still plausible or does the industry need more specialization? Will we ever see a return of mega-buyouts?
Views: 32487 Milken Institute
A Conversation with Howard Marks: Mastering the Market Cycle
 
01:29:53
Milken Institute chairman, Michael Milken, and co-chairman and co-founder of Oaktree Capital Management, Howard Marks, have a conversation on the ongoing cycles that govern the stock market and reveal how investors can read and profit from these patterns. milkeninstitute.org #Stocks #StockMarket #Investing
Views: 35364 Milken Institute
Real Estate Outlook: A More Attractive Asset?
 
58:58
As monetary policies flip, real estate is demonstrating its appeal, steadily attracting capital while other asset classes exhibit signs of investor anxiety. What are the prospects for returns in global property markets? How are these assets positioned to handle changes in inflation and interest rates? Will new trade tariffs modify investment strategies? What anomalies can be seen in the current real estate cycle? Moderator Erik Schatzker Editor-at-Large, Bloomberg Television Speakers Neil Bluhm Managing Principal, Walton Street Capital Robert Morse Executive Chairman, Bridge Investment Group Eyal Ofer Chairman, Ofer Global David Simon Chairman and CEO, Simon Property Group Sam Zell Chairman, Equity Group Investments #MIGlobal http://www.milkeninstitute.org/events/conferences/global-conference/2018/
Views: 17323 Milken Institute
A Conversation With "Crazy Rich Asians" Author Kevin Kwan
 
54:59
Moderator Curtis S. Chin Asia Fellow, Milken Institute; Former U.S. Ambassador to the Asian Development Bank Speaker Kevin Kwan Author, “Crazy Rich Asians,” “China Rich Girlfriend” and “Rich People Problems” Author Kevin Kwan sits down with Curtis S. Chin, Milken Institute Asia Fellow, for a conversation about super-rich Asian families, the explosion of private wealth in the region, as well as his upcoming film and the bestselling book that started it all—Crazy Rich Asians. #MIGlobal #CrazyRichAsiansMovie #KevinKwan http://www.milkeninstitute.org/events/conferences/global-conference/2018/
Views: 84153 Milken Institute
Investing with Vision: A Conversation With SoftBank's Rajeev Misra
 
01:00:41
Institute Chairman Mike Milken sits down with Rajeev Misra, who leads Softbank's Vision Fund, the largest private capital pool ever assembled. What qualities does Softbank seek in the entrepreneurs it backs and the investment professionals it hires? How does the fund's management determine which opportunities to pursue? What are the most exciting technologies that will soon become ubiquitous? How will the fund deploy its enormous capital pool effectively? Guest Rajeev Misra CEO, SoftBank Investment Advisers Moderator Michael Milken Chairman, Milken Institute #Softbank #Investing #RajeevMisra
Views: 6247 Milken Institute
An Inspiring Presentation by Jim Yong Kim, President, World Bank Group
 
18:03
A presentation by Jim Yong Kim, President, World Bank Group at the Milken Institute Global Conference in 2017. milkeninstitute.org #MIGlobal
Views: 3270 Milken Institute
Navigating Investments from Cryptocurrencies to Blockchain
 
58:34
The meteoric increase in value of cryptocurrencies like Bitcoin, Ether and Litecoin - and many others - has ignited a worldwide investment frenzy and frequent double-digit price fluctuations. Such volatility has led many of the preeminent voices in finance, including Jamie Dimon and Warren Buffett, to call Bitcoin a "fraud" and "mirage." And yet the collective market capitalization of Bitcoin and the other Top 10 digital currencies is roughly half a trillion USD. Is Crypto a global Ponzi scheme, the legitimate currency of the future, or something in between? Moderator Suna Said, Founder and CEO, Nima Capital LLC Speakers Mike Novogratz, CEO, Galaxy Investment Partners Charles Noyes, Quantitative Researcher, Pantera Capital Bill Tai, Venture Capitalist; Founder, ACTAI Global Cameron Winklevoss, Co-Founder and President, Gemini Tyler Winklevoss, Co-Founder and CEO, Gemini For more information, visit: http://milkeninstitute.org #MIGlobal #Blockchain #Crypto
Views: 57470 Milken Institute
A Conversation with Ray Dalio and Michael Milken
 
01:37:57
Ray Dalio, co-chief investment officer and co-chairman of Bridgewater Associates, sits down with Michael Milken, chairman of the Milken Institute, to discuss his latest book, "Principles." October 2017 #RayDalio #Principles #Bridgewater milkeninstitute.org
Views: 86753 Milken Institute
Common Sense from Uncommon Investors
 
01:02:49
Moderator Michael Milken, Chairman, Milken Institute Speakers Thomas Barrack, Executive Chairman, Colony NorthStar John Calamos Sr., Founder, Chairman and Global Chief Investment Officer, Calamos Investments Mitchell Julis, Co-Founder, Co-Chairman and Co-CEO, Canyon Partners, LLC Stephen Schwarzman, Chairman, CEO and Co-Founder, Blackstone Jonathan Sokoloff, Managing Partner, Leonard Green & Partners Institute Chairman Mike Milken sits down with several of the world's most successful investors to discuss the key insights they've gained and lessons they've learned over their years of investing. Potential questions: What is the most memorable investment you've made? How do investors avoid the pitfalls of cognitive biases? Have the best ideas come from extensive analysis or from the gut? What do you look for when hiring key members of your team? How do you think about and manage risk? And, of course, where are you focusing your attention -- and money -- in the near future?
Views: 20498 Milken Institute
Activist Investors and the Search for Alpha
 
59:25
Shareholder activism has been gaining traction as key activist investors exert positive influence by pressing management teams to improve operational efficiency, invest capital in undervalued shares and pursue creative initiatives to maximize returns. These investors saw tremendous asset inflows in 2013 and far outpaced their hedge fund peers' performance in recent years. A structural shift in the corporate governance landscape has supported this trend, providing even smaller shareholders with an outlet to influence and be heard by management. We'll delve into the fine points of investor engagement and unlocking value with top players in the field. What's the outlook for activism, given the strategy's prevalence and the equity market's strong overall performance?
Views: 16931 Milken Institute
A Conversation with Steve Ballmer
 
41:00
This year's California Summit opens with a conversation between giants of industry and philanthropy, Steve Ballmer, owner of the Los Angeles Clippers and co-founder of Ballmer Group, and Michael Milken, Chairman of the Milken Institute, for a broad-ranging discussion on California's position among the world's leading economies and the future of philanthropy in the state. Guest Steve Ballmer, Co-Founder, Ballmer Group; Former President & CEO, Microsoft Corp. Interviewer Michael Milken, Chairman, Milken Institute
Views: 3322 Milken Institute
A Conversation with Howard Marks and Mike Milken
 
55:55
Updated version - http://www.youtube.com/watch?v=qwP-F0u7SmY Speaker: Howard Marks, Chairman, Oaktree Capital Management Interviewer: Michael Milken, Chairman, Milken Institute When an investor tells you, "This time is different," says Howard Marks, take caution. "These four words should strike fear - and perhaps suggest an opportunity for profit - for anyone who understands the past and knows it repeats." Indeed, Marks warns that failing to heed the lessons of history "is what dooms investors to being victimized repeatedly by cycles of boom and bust." Such straightforward advice, compiled in his book "The Most Important Thing," as well as his prescient investing have made Marks an industry legend. Join Institute Chairman Mike Milken (who also often notes that history repeats itself) as he welcomes Marks for a discussion on the current economic climate, ways to think about and gauge risk, the crucial importance of research and analysis, and lessons learned over the course of a long and successful investing career. #HowardMarks #Investing
Views: 25364 Milken Institute
Cryptocurrencies: Irrational Exuberance or Brave New World?
 
01:01:20
After peaking near $20,000 at the end of December 2017, Bitcoin's price collapsed by more than 50 percent at the start of 2018. Other cryptocurrencies have experienced similar volatility, and the share prices of certain publicly traded firms have shot through the roof at the mere mention of "blockchain." Similarly, the initial coin offering market surpassed $5 billion dollars in 2017—a 2,200 percent increase from 2016. Are these the signs of a bubble ready to burst, or are we witnessing a paradigm shift in how companies raise capital? What are the most interesting things happening in the cryptocurrency space, and where are the true investment opportunities? We will consider these questions and determine where the ecosystem has matured and where it needs support, in terms of market infrastructure and Moderator Anna Irrera FinTech Correspondent, Thomson Reuters Speakers Bill Barhydt Founder and CEO, Abra Alex Mashinsky CEO, Celsius Network Brent McIntosh General Counsel, U.S. Department of the Treasury Nouriel Roubini Chairman, Roubini Macro Associates LLC; Professor of Economics, Stern School of Business, New York University policy. #MIGlobal http://www.milkeninstitute.org/events/conferences/global-conference/2018/
Views: 21836 Milken Institute
The Alchemy of Capital Structure
 
57:49
Moderator Erik Schatzker, Anchor and Editor-at-Large, Bloomberg Television Speakers Joshua Friedman, Co-Founder, Co-Chairman and Co-CEO, Canyon Partners, LLC Joshua Harris, Co-Founder and Member, Board of Directors, Apollo Global Management Carey Lathrop, Managing Director and Global Head of Credit Markets, Citi Jonathan Sokoloff, Managing Partner, Leonard Green & Partners Finding the best capital structure is a never-ending journey. It depends on financial market conditions, a company’s growth ambitions, regulatory rules and the economic backdrop. Taking on too much debt relative to equity can leave a company hamstrung, while avoiding debt at favorable times can mean missed opportunities for growth. Designing the best capital structure is both an art and a science, and the smartest managers understand their environment and draw from a broad range of financial tools worldwide. The challenge of getting the capital structure right has become critical now, with the global economy at a crossroads. After a surge in corporate borrowing since 2009, is now the time to rebuild liquidity? Is the use of debt to buy back stock still prudent — or does it risk shareholder backlash? How should managers anticipate interest rate, currency and equity market cycles in the U.S. and abroad to avoid getting caught with the wrong capital structure in the years ahead?
Views: 12750 Milken Institute
Playing to Win: How Strategy Really Works
 
01:11:55
A.G. Lafley, former CEO of Procter & Gamble, and Roger L. Martin, Dean, Rotman School of Management Moderated by Joel Kurtzman, Milken Institute Senior Fellow March 21, 2013 4:30 p.m.-6:00 p.m. Santa Monica The brands are familiar, but the approach is brand new. In "Playing to Win: How Strategy Really Works," two of today's best-known business thinkers explain how strategic planning helped Procter & Gamble double its sales, quadruple its profits and increase its market value by more than $100 billion in just 10 years. At this Milken Institute Forum, authors A.G. Lafley (P&G's former CEO) and Roger Martin (dean of Toronto's Rotman School of Management) will explain the strategy behind one of the most successful corporate turnarounds of the century and how leaders of companies big and small can use these techniques in their own organizations. The authors boil down the strategy to two factors--where to play and how to win--and demonstrate how P&G repeatedly won by applying this method to iconic brands such as Olay, Bounty, Gillette, Swiffer and Febreze.
Views: 45508 Milken Institute
In Tech We Trust? A Debate with Peter Thiel and Marc Andreessen
 
58:04
Updated version can be found here - http://www.youtube.com/watch?v=-SJ-zvsALgo Peter Thiel and Marc Andreessen are Silicon Valley luminaries, epic entrepreneurs and prominent financiers. Both have something to say about where high-tech is taking the world economy, and what is being left behind. Andreessen, co-developer of the first Web browser and now a top venture capitalist, expects software to automate and ultimately dominate most other industries. Thiel, a co-founder of PayPal and an early investor in Facebook, has written in depth about what he considers the stagnation of innovation in fields that others see as emblems of progress: energy, pharmaceuticals, space exploration, nanotech and much more. In fact, Thiel links the austerity gripping the Western world to productivity gains that never happened. Join these acute observers for a unique exchange on science, business and innovation, or the lack thereof.
Views: 42073 Milken Institute
New Directions in Private Equity
 
01:03:04
Speakers: Leon Black, Chairman and CEO, Apollo Global Management, LLC David Bonderman, Founding Partner, TPG Capital Jonathan Nelson, Founder and CEO, Providence Equity Partners Jonathan Sokoloff, Managing Partner, Leonard Green & Partners, LP Scott Sperling, Co-President, Thomas H. Lee Partners, LP Moderator: Maria Bartiromo, Anchor, CNBC After a flat 2012 in the private equity market, competitive deal-making has intensified worldwide. Aging assets requiring exit, restructuring and rebirth are waiting to be sold. The current period of low-cost financing, strong stock markets and accelerating growth bodes well for new directions in the industry. However, recent moves by banking regulators, including a redefinition of highly leveraged transactions, could dampen underwriting by financial institutions that participate in buyouts or refinancing leveraged firms' debt. The costs of fixing companies could rise, and such investments could be deterred. Our panel will discuss how the PE industry is adjusting to change in the regulatory and fiscal environments. What sector and geographic trends are fueling these new directions in private equity?
Views: 27169 Milken Institute
The Rise and Decline of Nations and Civilizations
 
59:11
Updated version can be seen here - http://www.youtube.com/watch?v=UZ1c1qL18JM Speakers: Jared Diamond, Professor, Department of Geography, University of California, Los Angeles; Pulitzer Prize winner, "Guns, Germs, and Steel" Niall Ferguson, Laurence A. Tisch Professor of History, Harvard University; Senior Fellow, Hoover Institution James Robinson, David Florence Professor of Government, Harvard University Moderator: William Bennett, Former U.S. Secretary of Education; Author, "Is College Worth It?" Do nations, like a good drama, have a beginning, middle and end? Why do civilizations succeed, why do they fail? Is it culture, economics, geography, climate, or an interaction among them? Is reinvention and rejuvenation possible? Our panel of celebrated scholars will examine the forces that propel the lifecycles of empires and how they may apply in today's world. Many are asking whether the U.S. is past its peak and China will inevitably reclaim the preeminence it enjoyed centuries ago. More broadly, is the global center of gravity moving from West to East? This event may also yield insights for businesses - they don't live forever either.
Views: 39267 Milken Institute
Obama Campaign Manager Jim Messina Talks Big Data at the Milken Institute's 2013 Global Conference
 
10:58
In this series of clips from our discussion about Big Data at the 2013 Global Conference, Jim Messina discusses how the Obama campaign effectively used large volumes of data to identify voters. This ultimately lead to a more effective deployment of resources. The discussion provides fascinating insights into the way large data sets can be accumulated and used to change the outcome of an election.
Views: 15443 Milken Institute
Blockchain and Cryptocurrency: What to Expect Next
 
50:14
It has been a wild ride for a cryptocurrency market that may not yet have hit bottom, scalding countless individuals and some big name investors. Yet blockchain—the technology upon which most cryptocurrencies are built—gained a strategic foothold in 2018 as an investment of the future for many blue-chip companies. How will crypto markets and their related technologies fare in the year ahead? Can blockchain companies with differentiated business models separate themselves from the pack? Is Bitcoin too slow to compete with the next wave of crypto competitors (such as stablecoins), or will it, as predicted by some name-brand investors, soar to new heights in the years ahead? Moderator Staci Warden Executive Director, Global Market Development, Milken Institute Speakers Eva Kaili Member of the European Parliament, Panhellenic Socialist Movement Mike Novogratz CEO and Founder, Galaxy Digital Charles Noyes Partner, Paradigm For more information, visit: http://milkeninstitute.org/mena #blockchain #cyrpto #bitcoin
Views: 36779 Milken Institute
Global Real Estate Outlook: A More Attractive Asset?
 
56:39
Moderator Barry Sternlicht, Chairman and CEO, Starwood Capital Group Speakers Eric Adler, Global CEO, PGIM Real Estate Rick Caruso, Founder and CEO, Caruso R. Donahue Peebles, Founder, Chairman and CEO, Peebles Corp. Ross Perot, Jr., Chairman, Hillwood and The Perot Group Sam Zell, Chairman, Equity Group Investments Will widening multiples in equity markets and rising interest rates encourage investors to turn to real estate? The experts on this panel will discuss the prospects for returns in property markets around the world, which vary with regional economic performance and the risks and opportunities associated with specific locations. We'll examine which countries are strengthening and which are weakening, and we'll delve into the trends by asset class: retail, industrial, commercial, hospitality, multifamily, single-family. Are U.S. markets poised to garner more investment? Has capital stopped fleeing China? Are other Asian markets drawing more attention? Are euro-zone markets undervalued, potentially offering better returns despite weaker growth? Does Latin America look attractive or are most markets still too pricey?
Views: 18742 Milken Institute
The Evolution of Hedge Fund Management
 
01:00:21
Moderator Erik Schatzker Editor-at-Large, Bloomberg Television Speakers Dmitry Balyasny Managing Partner and Chief Investment Officer, Balyasny Asset Management Andrew Feldstein CEO and Chief Investment Officer, BlueMountain Capital Management Dawn Fitzpatrick Chief Investment Officer, Soros Fund Management Ricky Sandler Founder, CEO and Chief Investment Officer, Eminence Capital Hedge funds have had their best start to a year since the financial crisis, when investors pulled out $112 billion. During this change in the tides, what are the latest strategies hedge funds can add to their toolkits? What are specific examples of how new technologies, including data analytics, have transformed strategies? What is the future of fee structures, since managers have implemented new terms for certain clients? And what aspect of hedge funds do managers believe asset owners most frequently misunderstand? How can funds retain and attract top talent? #MIGlobal http://www.milkeninstitute.org/events/conferences/global-conference/2018/
Views: 7326 Milken Institute
The Intangibles of Building a Great Hedge Fund: People as an Asset Class
 
01:00:46
What is the secret to building a great hedge fund? In this highly concentrated industry, 90 percent of assets under management are controlled by only 11 percent of the funds. With so much money going to so few, this market is one of the toughest for new managers to scale. Performance obviously matters, but veteran managers would argue that people make up the secret sauce that brings great performance and client trust. Our panel will discuss how a manager can pick the right strategies and people necessary to build a world-class investment team. Among the questions they will consider: Is a key-man fund better than the multi-manager model? Which do institutional clients prefer and which is easier to scale? And how to you attract the best analysts and portfolio managers? When the fund is down, what keeps investors in the game?
Views: 32183 Milken Institute
The Hedge-Fund Shakeout
 
01:00:29
Views: 8535 Milken Institute
Private Equity: Creating Value Against Increased Competition
 
01:01:05
Last year, private equity hit an all-time fundraising record. The influx of cash has driven up valuations, and now some are concerned whether these illiquid assets can maintain their historic returns. Where are we in the current cycle? How is private equity responding to risks in an environment where multiples are stretched in both private and public markets? In which sectors do private equity firms expect to find the best pockets of opportunity to generate maximum returns? How are PE firms responding to oversubscribed funds? Moderator Jim Moglia Managing Director and Group Head of Leveraged Finance Group, BMO Capital Markets Speakers Virginie Morgon CEO, Eurazeo Jonathan Rotolo Head of Private Equity and Real Assets, Barings Scott Sperling Co-President and Co-Chairman, Thomas H. Lee Partners David Wasserman Partner, Clayton, Dubilier & Rice Limited (CD&R) Andrew Weinberg Founder and Managing Partner, Brightstar Capital Partners #MIGlobal http://www.milkeninstitute.org/events/conferences/global-conference/2018/
Views: 6792 Milken Institute
Digital Future: The Internet of Things
 
01:00:03
Smart grid, smart phone.... smart toaster? In the near future, theorists say, virtually every kind of object and device will be digitized and Web-enabled. That's a simple synopsis of the ballyhooed Internet of Things. You'll not only command your appliances remotely, but they'll be striking up conversations among themselves. Eventually, trillions of objects will be networked, each one animated by information, and generating plenty of it as well. In the Internet of Things era, Big Data will get much, much bigger. Who will control this data, and how will it be used? Another risk: With everything online, the terrain of hacking expands. Who'll be privy to your medical alerts? Will your TV see what's happening on the sofa? From the user's point of view, will there be a technical standard or will you have to program your increasingly complex car, watch, lamps and massage chair in different ways? If IOT represents a true transformation, it may also present a whopping investment opportunity. And who will make it happen? Apple, Cisco, Google or trailblazers we haven't yet heard of?
Views: 16943 Milken Institute
Keeping the American Dream Alive
 
01:05:24
In 1931, James Truslow Adams—a Pulitzer Prize-winning writer and historian, and the son of a Venezuelan immigrant—coined an iconic idea: "The American Dream is that dream of a land in which life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement." Nearly a century later, the American Dream endures and it has taken hold in nations around the world, but there are signs it is at risk. This session will explore what the American Dream means, what challenges it faces today, and what can be done to ensure that it lives on and inspires future generations. Moderator Michael Milken Chairman, Milken Institute Speakers Raymond Dalio Founder, Chairman and Co-Chief Investment Officer, Bridgewater Associates Robert Smith Chairman and CEO, Vista Equity Partners #VistaEquity #RobertSmith #VistaEquityPartners
Views: 2322 Milken Institute
Common Sense from Uncommon Investors
 
58:57
Join Chairman Mike Milken as he sits down with some of the founders who have shaped financial markets for decades. The panel will both look back at what many consider now the new normal of excess liquidity as well as outline what years of experience can tell you about the current crossroads. As the years of search-for-yield are coming to an end, how will markets have to adjust the way they think about risk? Can you prepare the youngest market participants—many of whom haven't seen a recession in their professional life—for the inevitable? Ultimately, if you had to pick just one asset class in 2019, which and why? Moderator Michael Milken Chairman, Milken Institute Speakers Jonathan Coslet Chief Investment Officer, TPG Global John Danhakl Managing Partner, Leonard Green & Partners, L.P. Mitchell Julis Co-Founder, Co-Chairman and Co-CEO, Canyon Partners, LLC Brian Sheth Co-Founder and President, Vista Equity Partners Steven Tananbaum Founding Partner and Chief Investment Officer, GoldenTree Asset Management LP #Investors #VistaEquity #GoldenTree
Views: 2098 Milken Institute
The Art and Science of Capital Structure
 
59:43
Optimal capital structure is a moving target. It's unique to each company and depends on capital market conditions, the economy, management capabilities, industry trends and--most importantly--the regulatory environment and social trends. Getting these wrong can have significant consequences. Overleveraging can leave a company hamstrung, just as avoiding debt at the wrong times can lead to missed opportunities for growth and job creation. For some companies, the constant focus on short-term financing leaves less time for long-term planning. Finding the right capital structure is both an art and a science, and the best practitioners understand their environment and draw from a broad range of financial tools. This panel will discuss why capital structure matters now more than ever. How are risk levels affected by current government regulation and social trends? When is it time to build liquidity? How can companies anticipate interest-rate and market cycles to avoid the wrong structure?
Views: 11950 Milken Institute
The Path to Awakening
 
01:11:32
The Path to Awakening: How Buddhism's Seven Points of Mind Training Can Lead You to a Life of Enlightenment and Happiness Shamar Rinpoche Moderated by Marc Junkunc of Virginia Tech March 12, 2014 4:30 p.m.-6:00 p.m. Santa Monica Tibetan Buddhism's Seven Points of Mind Training have been the basis of a transformative practice for close to a millennium. Many believe that they cultivate the Buddha Nature inside each of us, reflecting on the quest for peace, contentment and selflessness in a world filled with turmoil and unrest. For those who seek to learn about a philosophy and practice aimed at spiritual renewal, Buddhist teacher Shamar Rinpoche, author of "The Path to Awakening," will discuss Chekawa Yeshe Dorje's important text on mind training at this Milken Institute Forum. The insights contained in that text along with the meditation Shamar Rinpoche teaches are considered means of deepening wisdom and personal effectiveness. Among the questions the author may reflect on are what is dharma, what is enlightenment and how do we incorporate mindfulness into our everyday lives?
Views: 18179 Milken Institute
Private Equity Outlook from Industry Titans
 
55:10
The U.S. private equity business had a big year in 2015, recording the highest dollar volume of company buyout deals since 2007 -- $139 billion nationwide, according to Dealogic. But dealmakers once again found themselves squeezed by deep-pocketed corporate buyers seeking growth via takeovers. The result: Private equity buyouts accounted for just 6 percent of total U.S. takeover activity last year, down from 14 percent in 2013. The numbers suggest that private equity firms are angling in a shrinking pool of good buyout candidates. That's raising questions about the industry's ability to maintain its high historical returns from engineering buyouts and restructuring the companies for later sale. This panel of P-E titans will address some of the major challenges facing the industry as well as the opportunities. Is competition driving industry stalwarts to compete in different asset arenas? What are the key elements of successful deals, and how are they changing? Are holding periods for company investments getting longer or shorter, and is there room for investments to be held into perpetuity? Moderator Andrea Kramer, Managing Director, Hamilton Lane Speakers Leon Black, Chairman, CEO and Director, Apollo Global Management Jonathan Nelson, Founder and CEO, Providence Equity Partners David Rubenstein, Co-Founder and Co-CEO, The Carlyle Group Robert Smith, Founder, Chairman and CEO, Vista Equity Partners; Founding Director and President, Fund II Foundation
Views: 16768 Milken Institute
A Conversation with Sean Parker, co-founder of Napster, Facebook, and the Parker Foundation
 
27:25
Sean Parker is chairman of the Parker Foundation. A philanthropist and entrepreneur who has launched genre-defining companies, he started the Parker Foundation with a $600-million contribution in 2015. Mr. Parker has been recognized for his leadership in funding and promoting research into the relationship between the immune system and cancer including by the Vatican, where he was awarded the Pontifical Key Philanthropy Award, and by the Jefferson Foundation for Outstanding Public Service by a Private Citizen. Hehas also received the Friends of Cancer Research Leadership Award, the Society for Immunotherapy of Cancer Public Service Award for his efforts in championing cancer immunotherapy, and the Gold Medal of Honorary Patronage from Trinity College, Dublin. Mr. Parker was the co-founder of Napster at age 19 and Plaxo at 21. In 2004 he joined with Mark Zuckerberg to develop the online social network Facebook and served as Facebook's founding president. Moderator: Hadley Gamble, Reporter and Anchor, CNBC Guest: Sean Parker, Chairman, The Parker Foundation For more information, visit: http://milkeninstitute.org/mena #SeanParker #Facebook #Spotify
Views: 3171 Milken Institute
Investing in African Prosperity
 
01:24:25
Mobile version located here: http://www.youtube.com/watch?v=afP6fkr6uiA Speakers: Tony Blair, Former Prime Minister, Great Britain and Northern Ireland Bill Gates, Co-Chair and Trustee, Bill & Melinda Gates Foundation H.E. Paul Kagame, President of the Republic of Rwanda Strive Masiyiwa, Chairman and Founder, Econet Wireless Rhonda Zygocki, Executive Vice President, Policy and Planning, Chevron Moderator: Michael Milken, Chairman, Milken Institute Africa is home to six of the 10 fastest-growing economies, driven largely by surging foreign investment flows. FDI is expected to reach $150 billion in 2015 - double the amount received last year and six times more than in 2000. Africa is also home to the world's largest concentration of impoverished people, and the considerable gap between rich and poor continues to widen. For Africa's natural resource sector - target of 90 percent of foreign investment - to spread prosperity, reduce inequality and underwrite gains in human development, a new, collaborative approach to investment is essential. There are important roles for a range of players: investors, corporations, governments, development agencies, NGOs and foundations. This panel of global leaders will discuss innovative and untraditional ways to expand health care, build institutions and broaden the economic base on the continent.
Views: 15108 Milken Institute
A Conversation with PepsiCo CEO Indra Nooyi
 
34:06
Moderator Michael Milken, Chairman, Milken Institute Speaker Indra Nooyi, Chairperson and CEO, PepsiCo, Inc.
Views: 35122 Milken Institute
Outlook for High-Yield and Leveraged Finance
 
55:42
The high-yield bond market has rallied again in recent months after a selloff that drove yields to their highest levels since 2011. The market was hit hard in 2015 and early 2016 by worries about slowing global growth and the collapse of energy prices—which slammed the bonds of many oil and gas companies. Lately, growth fears have eased and oil prices have recouped some of their losses. But many investors remain concerned about other potential threats to high-yield, including credit tightening by the Federal Reserve, prolonged weakness in emerging-market economies and the rising tide of corporate debt maturing between 2018 and 2022. Are central bank policies, including negative interest rates in Europe, supportive or hazardous for high-yield? Which industries offer the best value prospects for investors now? On this panel, leaders in high-yield and leveraged finance will share their outlooks and strategies. Moderator Tom Braithwaite, Lex Writer, Financial Times Speakers Christopher Boyle, Managing Director and Portfolio Manager, Guggenheim Partners Peter Budko, Partner, AR Global Henry Chyung, Chief Investment Officer, Post Advisory Group Robert Kricheff, Global Strategist and High-Yield Portfolio Manager, Shenkman Capital Andrew Whittaker, Vice Chairman, Jefferies; Vice Chairman, Leucadia National Corp.
Views: 5453 Milken Institute
Investment Outlook from Global Industry Titans
 
01:01:48
Private equity deal value for 2015 proved resilient as reported global buyouts reached $282 billion, about 5 percent more than the previous year. But as values climb, private equity firms find themselves competing more and more with deep-pocketed corporate buyers seeking growth via acquisitions. Among them is a growing number of Asian buyers snapping up strategically positioned U.S. and European companies and trophy assets. These trends are making reasonably valued buyout targets difficult to find, raising more questions about how the PE industry will maintain decent returns on capital invested. This panel of private equity titans will address the major challenges facing the industry and highlight the opportunities. What are the key elements of a successful deal, and how have those dynamics changed over the years? Are mega-buyouts a thing of the past? Which industries are most attractive now for PE investors -- and do those industries differ across the U.S., Asia and Europe? What are the highest-priority considerations for PE investors at this point in the cycle? Moderator Michael Milken, Chairman, Milken Institute Speakers Leon Black, Chairman, CEO and Director, Apollo Global Management David Bonderman, Chairman and Founding Partner, TPG Lei Zhang, Founder, Chair and CEO, Hillhouse Capital Management Group
Views: 3485 Milken Institute
Global Real Estate: Best Countries, Best Classes
 
01:00:00
Opportunities in real estate vary greatly by country and asset class. Where are investors likely to find the best returns? Are slow-growth markets, such as the euro zone, undervalued? Are there still plays to be made in the U.S., where the Fed is poised to raise interest rates? With China's markets slowing, where should investors look in Asia? Do some locations in Latin America look attractive or are markets still too pricey? What are the trends by asset classes (commercial, retail, industrial, multi-family, single family, hospitality)? As equity markets become expensive relative to earnings, will more investors turn to real estate for appreciation and a rate of return? What are the leading sources of capital? Is debt or equity the way to proceed? What about capital for new construction? Listen as a panel of leading investors discuss opportunities and risk in the world's real estate markets.
Views: 10590 Milken Institute
The Future Is Now: Things That Will Blow Your Mind
 
01:00:13
What's the future look like? Surgical robots that can go almost anywhere in the human body, fixing ailments that previously were unreachable or required invasive surgery. Or a robotic cop that looks like R2-D2 and fights crime 24/7 using laser cameras and facial recognition software to pick up clues, and then alerts authorities to threats. And a technology that repairs bone damage using bone grown from a patient's own cells. The Future is here. In this panel, three speakers working on amazing things will tell us what they're up to -- and it'll blow your mind.
Views: 4340 Milken Institute
Meaningful Work and Relationships: A Conversation with Ray Dalio
 
59:41
Meaningful Work and Relationships Through Radical Truth and Transparency: A Conversation with Ray Dalio Ray Dalio believes that the most effective way to create meaningful work and meaningful relationships is through an idea meritocracy in which everyone speaks frankly and operations are open to scrutiny. That way, we can openly explore what is true -- including what's true about people's mistakes and weaknesses -- and can work through disagreements in an orderly way. This unique culture, operating for more than 40 years, has led Bridgewater to become the largest hedge fund firm in the world. Join Dalio to learn what inspired him to create a radically truthful and transparent culture, the challenges and benefits of this approach, and how it can be applied to other organizations. He will be joined onstage by Robert Kegan, Harvard professor of psychology, who has studied Bridgewater extensively and is the author of the recently published book, "An Everyone Culture," which features Bridgewater and other organizations designed to help employees use errors and vulnerabilities as opportunities for personal and company growth Moderator Robert Kegan, Meehan Professor of Adult Learning and Professional Development, Harvard Graduate School of Education Speaker Raymond Dalio, Founder, Chairman and Co-Chief Investment Officer, Bridgewater Associates .
Views: 15754 Milken Institute
The Blockchain: A Revolution You Need to Understand
 
01:01:23
The promise of Bitcoin has been overshadowed by its underlying technology, the blockchain. There is great interest from traditional financial firms, which, saddled with decades-old payment infrastructures, are eager to adapt to the digital realities and improve the efficiency, speed and transparency of transactions. Efforts are underway at the national and international levels to study and monitor the blockchain, and a consortium of large international banks is collaborating on how to bring Bitcoin's technology to bear in the financial marketplace. How can this technology deliver for the financial services industry? Can we expect to see widespread use of these new systems in the near future and, if so, how will they change finance? Are we likely to see movement toward private rather than public blockchains, and how will this affect transparency and security? Moderator Marc Hochstein, Editor-in-Chief, American Banker Speakers Brian Forde, Director, Digital Currency, MIT Media Lab Jalak Jobanputra, Founding Partner, FuturePerfect Ventures Leanne Kemp, Founder and CEO, Everledger Margaret Liu, Senior Vice President and Deputy General Counsel, Conference of State Bank Supervisors Steve Wager, Executive Vice President, Operations and Development, itBit
Views: 114728 Milken Institute
A Conversation with Jamie Dimon
 
21:35
Jamie Dimon, Chairman and CEO, JPMorgan Chase & Co. joins us at the 20th annual Milken Institute Global Conference. milkeninstitute.org #MIGlobal
Views: 17706 Milken Institute