Applied Portfolio Management - Class 3 - Equity Investment Management

Get a 7-day free trial and 25% off Blinkist Annual Premium by clicking here: https://www.blinkist.com/patrickboyle or scanning the QR code.Elon Musk told advertisers who have halted spending on X due to his endorsement of an antisemitic post to “go f**k” themselves, in an unhinged interview with Andrew Ross Sorkin (who Elon calls Jonathan). Musk said that a recent exodus of big brands was “going to kill the company, and the whole world will know the advertisers killed the company”.Musk, who bought Twitter (which he has renamed X) for $46.5 billion dollars (including transaction costs) in October 2022, dismissed the idea that he wanted advertisers to return. “If somebody is going to try to blackmail with advertising, blackmail me with money, go f**k yourself,” he said. “Go. F**k. Yourself. Is that clear, I hope it is.”On December 10th Elon Musk reinstated the twitter account of the controversial podcaster Alex Jones reversing his statement from a year earlier to keep Jones off the social network.Twitter makes almost all of its revenue from advertising and is saddled with $13 billion dollars of debt. Is Twitter about to go bankrupt?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices

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Get one month of complete digital access to the Financial Times for $1 by clicking here: https://subs.ft.com/patrick_boyle?segmentId=979ca37f-c690-7295-5eba-bf4ff33d3bb4Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Goldman Sachs is reported to have used a fund set up with Chinese state money to buy a series of US and UK companies, including one with a cyber security business that provides services to the British government, even as tensions rise between Beijing and the west.The Financial Times reported that Goldman Sachs struck seven deals using cash from a $2.5bn private equity “partnership fund” it set up in 2017 with the sovereign wealth fund China Investment Corporation.Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices

Experience the smarter way to shop for clothes. Explore Tailor Store's made-to-order collection and embrace quality, custom fit, and zero waste ➡️ https://www.tailorstore.com/patrickboyleTesla’s sales are falling across the globe—from the UK to China to California. So why did the board just hand Elon Musk a $29 billion pay package? In this video, we break down the contradictions at the heart of Tesla’s current moment: collapsing demand, the Cybertruck debacle, the robotaxi fantasy, and a boardroom that seems more loyal to Musk than to shareholders.We’ll explore:Why Tesla’s fundamentals are weakeningHow Musk’s pay compares to other CEOsThe governance crisis behind the headlinesWhether Tesla is still a growth company—or just a cult stockThis isn’t just about one company. It’s about how corporate governance is bending under the weight of celebrity, and what happens when hype outpaces performance.Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: https://www.onfinance.orgFollow Patrick on Twitter Here: https://bsky.app/profile/pboyle.bsky.socialBusiness Inquiries ➡️ [email protected] Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/join Learn more about your ad choices. Visit megaphone.fm/adchoices

The first 100 people to use code BOYLE with the link below will get 60% off of Incogni: http://incogni.com/boyleHigher mortgage rates should be expected to depress the housing market, and the US has just seen one of the steepest rate increases in history.Would-be homebuyers are facing massive sticker shock, with measures of affordability worsening at the fastest pace on record. The US real estate market has frozen up with the volume of new sales slowing at a faster pace than even during the aftermath of the global financial crisis.Does this mean that home prices are about to collapse? Will we see a repeat of the Global Financial Crisis of 2007-2008?Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorporate Finance: https://amzn.to/3fn3rvC Ways To Support The ChannelPatreon: https://www.patreon.com/PatrickBoyleOnFinanceBuy Me a Coffee: https://www.buymeacoffee.com/patrickboyleVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePatrick Boyle On Finance Podcast:Spotify: https://open.spotify.com/show/7uhrWlDvxzy9hLoW0EYf0bApple: https://podcasts.apple.com/us/podcast/patrick-boyle-on-finance/id1547740313Google Podcasts: https://tinyurl.com/62862nveJoin this channel to support making this content:https://www.youtube.com/channel/UCASM0cgfkJxQ1ICmRilfHLw/joinCorrections: 1) A citation to the New York Times Piece on the history of the 30 Year Mortgage was left out of the video Here is the link: https://www.nytimes.com/2023/11/19/business/economy/30-year-mortgage.html . Thanks @aidanrushton5472 2) Charts of Homebuilder Confidence and Price to Rent Ratio which were shown on screen are the same graph but with different titles - Thanks @KMbuilt for letting me know. The Wells Fargo Homebuilder Confidence chart was shown twice by mistake. Here is a link to the Price to Rent ratio chart. https://www.statista.com/statistics/591978/house-price-to-rent-ratio-usa/ A longer series can be found on the OECD website but is behind a paywall.3) A Viewer requested a link to the James Mackintosh article I mentioned on how changes in interest rates have affected the value of mortgages. Here is the link: https://www.wsj.com/finance/investing/the-trillion-dollar-win-hiding-in-your-mortgage-ae1cd21e?mod=hp_lead_pos3 . Thanks @tomwz5726 Learn more about your ad choices. Visit megaphone.fm/adchoices

In todays video we learn about currency swaps.These classes are all based on the book Trading and Pricing Financial Derivatives, available on Amazon at this link. https://amzn.to/2WIoAL0 Check out our website http://www.onfinance.org/Follow Patrick on twitter here: https://twitter.com/PatrickEBoyleWhat are currency swaps?A currency swap is a financial derivatives agreement in which two parties exchange the principal amount of a loan and the interest in one currency for the principal and interest in another currency.At the inception of the swap, the equivalent principal amounts are exchanged at the spot rate.During the length of the swap each party pays the interest on the swapped principal loan amount.At the end of the swap the principal amounts are swapped back at either the prevailing spot rate, or at a pre-agreed rate such as the rate of the original exchange of principals. Using the original rate would remove transaction risk on the swap.Currency swaps are used to obtain foreign currency loans at a better interest rate than a company could obtain by borrowing directly in a foreign market or as a method of hedging transaction risk on foreign currency loans which it has already taken out. Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome back to Patrick Boyle on Finance. In todays video we look at some of the biggest Corporate Scandals since the turn of the century in no particular order, and let’s see if there is anything we can learn from them. This video is a re-upload of Fridays video as there were audio problems with the original.Timestamps 00:00 Introduction 00:16 Elizabeth Holmes - Theranos 04:10 Lu Zhengyao - Luckin Coffee 07:43 Markus Braun - Wirecard 11:34 Bernie Ebbers - Worldcom 15:20 Jeff Skilling - Enron 18:54 Conclusion Bad Blood by John Carreyrou: https://amzn.to/3eiLVM1Enron - The Smartest Guys In The Room: https://amzn.to/3emLqAEPatrick's Books: Statistics for The Trading Floor: https://amzn.to/3eerLA0 Derivatives For The Trading Floor: https://amzn.to/3cjsyPF Corporate Finance: https://amzn.to/3fn3rvC Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance Visit our website: https:www.onfinance.org Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle Learn more about your ad choices. Visit megaphone.fm/adchoices

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