'We speak by our actions and we're not to issue press releases.' Jonathan Grabel, Chief Investment Officer at LACERA, spoke at the ForbesIconoclast Summit about efforts his company is taking to reach net zero carbon emissions.
Photos by Martin Schoeller; Guerin Blask for Forbes; Victor Blue/Bloombergozens of iconic investors, entrepreneurs and influential executives in finance gathered at the New York Historical Society on Thursday for the inaugural Forbes Iconoclast Summit to discuss inflation, the future of digital assets and all of the main themes affecting global markets and the economy during a turbulent year.
“In sports, you always have a time relative to other people. It’s very clear very quickly if you’re winning or losing,” Vonn said. “In business, there’s, 10-year, 20-year or 30-year plays, and understanding where you stand and when to get in and when to get out is very unclear. That’s been the biggest challenge.”
Lippman also addressed the contradiction between fiscal policy like the Inflation Reduction Act trying to accelerate the economy and monetary policy with the current rate-tightening cycle slowing the economy. “The biggest challenge is education. Right now, there’s a big concentration issue. Probably 20% of the advisors do 80% of the business,” Calcano says. “To get the next wave of advisors in to understand the product to bring to their clients, they need to be educated.”Sharmin Mossavar-Rahmani, chief investment officer at Goldman Sachs Private Wealth Management, didn’t pull punches with her opinion on investing in China in a panel with Utah Retirement Systems CIO John Skjervem.
“The most important aspect of influence, whether you have 10,000 followers on Instagram or 300 million, is that it ultimately needs to be met with a great product or a great service,” Sammons said. “It has to be met with a great business mind behind it, an intense focus on quality and an intense focus on authenticity.”
Bankman-Fried also discussed why he had discussions with Elon Musk about his acquisition of Twitter but ultimately decided not to partner on the deal.CEO Mike Federle moderated a panel with Mizuho Americas managing director Michal Katz, Strategic Value Partners founder Victor Khosla and Kirkland & Ellis partner James Sprayregen to discuss this year’s slowdown in deal activity and their outlook for the next 10 years.
“If you think of the greatest asset anybody has as human capital, you must learn to take care of human beings and of each other, and that concept has been lost,” Chhabra said. “There are fundamental problems providing basic education, housing, food, of which there’s plentiful supply, but it’s a distribution problem, and that’s a black mark on all of us.”
"Without amazing ideas, we can shut the door and all go home." Maverick Carter, CEO and Co-Founder of The SpringHill Company, and Marc Rowan, CEO of... | By Forbes | FacebookFamed short-seller Jim Chanos, who made a windfall predicting the falls of stocks like Enron and Wirecard, spoke with“The first half of 2021 was easily the most speculative market I’ve seen in my 40 years,” Chanos said. “One company that epitomized and we think still trades at nosebleed valuations is LiveNation.
The panelists discussing managing client desires and making moves like expanding into alternative investments or growing a fixed income business, in Wellington’s case. Zell also slammed President Joe Biden’s administration for taking aim at oil and gas companies by restricting the growth of pipelines and new oil leases.
“It’s ugly out there. We all know that, but it’s real simple. The less capital you already have out there, the more opportunities you have now,” Lasry said. “We’re able to lend at anywhere between 10% to 15%, whereas before if you’d try to lend at 8% or 10%, people would laugh.”
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