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  1. Milken Institute1h 0m

    The Hedge-Fund Shakeout

    Eric Schatzker, Eddie Fishman, Jeremy Shipman, Gerald Beeson, John McCormick, Ilana Weinstein

    Industry leaders emphasize that achieving sustainable returns now requires replacing individual skill with robust infrastructure and repeatable processes to navigate an increasingly efficient, zero-sum market environment. As structural alpha diminishes due to regulatory changes and market maturation, successful firms are converging quantitative and fundamental approaches while leveraging scale to aggregate data and talent. Looking ahead, the sector is trending toward consolidation where large multi-manager platforms and specialized boutiques coexist, demanding greater transparency and strategic partnerships with investors to maintain competitive advantages.

  2. Milken Institute58 min

    The Known Unknowns of Election 2020

    Tanya Cushman, Peter van de Ven, Neera Tanden, Karl Rove, Mark Penn, Jim Messina

    Global political fragmentation and economic anxiety are driving the rise of new parties worldwide, while US election dynamics are defined by a shrinking core of swing voters and a rapidly aging demographic. In the 2020 Democratic primary, over 700 candidates are competing under a front-loaded delegate system, yet the party remains overwhelmingly focused on electability to defeat a President Trump who suffers from low personal favorability despite high approval ratings. Ultimately, success in the upcoming election hinges on a dual strategy of base mobilization and persuading a skeptical electorate that the candidate can deliver economic improvement while uniting a divided nation.

  3. Milken Institute1h 1m

    LIVE: Corner Office: Leading Organizations in an Era of Change

    David Faber, Todd Boehly, Charles Scharf, Igor Tulchinsky, Devin Wenig, Meg Whitman

    Executives from WorldQuant, BNY Mellon, and the Los Angeles Dodgers convened to discuss the logarithmic pace of technological disruption and the strategic imperative for organizations to embrace extreme flexibility, high failure tolerance, and radical diversification. The panel highlighted how industry leaders are leveraging data-driven decision-making, global talent sourcing, and demographic shifts to navigate an asymmetric environment, with specific examples including algorithmic sports management, exponential alpha generation, and the evolution of legacy financial institutions. Furthermore, the discussion underscored the critical need for diverse workforces to anticipate market trends, the impending arrival of unified national privacy legislation, and the expansion of predictive analytics into new verticals ranging from healthcare to space exploration.

  4. Milken Institute56 min

    Artificial Intelligence Advances, and the Ethical Choices Ahead

    Henry Blodgett, Vivian Ming, Pedro Domingos, John Kelly, James Field, Wade

    Industry leaders including Pedro Domingos, Vivian Ming, James Field, and John Kelly convened to examine the economic and ethical implications of artificial intelligence, highlighting a shift where routine intellectual tasks face higher automation risks than complex physical labor. The panelists debated the potential for labor market bifurcation and the "Midas problem" of poorly defined AI goals, while acknowledging that hybrid human-machine collaboration currently outperforms standalone systems in fields ranging from chess to medical diagnostics. Addressing future bioethics and consciousness, the group argued that decentralized market forces will likely drive genetic enhancement trends despite ethical concerns, emphasizing the need for transparency and embedded ethical mechanisms rather than universal legislative frameworks.

  5. Milken Institute1h 16m

    A Conversation With Mick Mulvaney | Part 2: Perspectives on the US Economy

    Mick Mulvaney, Maria Bartiromo, Alan Schwartz, Andrew Ullman, Aaron Klein

    The White House prioritizes advancing the USMCA trade deal and finalizing a China agreement under strict conditions while warning against foreign intervention in Venezuela. Domestic policy focuses on overhauling regulatory approval pipelines to accelerate infrastructure spending, despite facing legislative gridlock driven by partisan disagreements on funding versus deregulation. Concurrently, the administration prepares for the 2020 election by leveraging recent economic indicators, such as declining drug prices and wage growth in Opportunity Zones, while experts in the accompanying panel debate solutions for widening income inequality and labor force participation.

  6. Milken Institute57 min

    Shifting Tides: How CEOs Navigate Today's Challenges

    Andy Serwer, David Solomon, Barbara Humpton, Jeff Harmoning, Carmine Decibio, Bob Backus

    CEOs from Goldman Sachs, Siemens, Viacom, General Mills, and EY discussed the strategic imperative of integrating diversity, sustainability, and technology into core business operations rather than treating them as peripheral issues. Leaders like David Solomon, Barbara Humpton, and Bob Backus highlighted specific initiatives ranging from carbon neutrality goals and digital transformation to talent retention and the rejection of creative mandates to align with evolving consumer values. The panel further addressed the necessity of adapting workforce development, communication strategies, and regulatory stances to navigate a shifting global landscape while maintaining organizational authenticity and growth.

  7. Milken Institute1h 24m

    LIVE: Part 1: A Conversation With Christine Lagarde | Part 2: The Investors' View

    Christine Lagarde, Michael Klowden, Gerard Baker, Stephanie Flanders, Tom Finke, David Hunt, Scott Minerd, Ronald O'Hanley, Lara Warner

    IMF Managing Director Christine Lagarde and a panel of investors convened to address global economic fragility characterized by synchronized growth slowdowns, persistent low inflation, and rising sovereign and corporate debt risks. Discussions highlighted divergent regional trajectories with the US showing resilience while Europe faces structural vulnerabilities, alongside critical concerns regarding China's Belt and Road sustainability and the potential for a US-China trade agreement. The event concluded with urgent calls for structural reforms in infrastructure, labor participation, and digital investment to combat inequality, warning that future crisis response capacity is limited by high debt levels and political polarization.

  8. Milken Institute1h 1m

    New Opportunities From a World in Transition

    Michael Piwowar, Daniel Farley, James McCormack, Angela Rodell, Bart Turtelboom, Dan Farley

    A comprehensive analysis of current global transitions highlights the interplay between persistent political populism, aging demographics in advanced economies, and China's strategic shift toward high-value manufacturing. These macroeconomic realities are driving a recalibration of investment expectations toward a 5% annual return while identifying opportunities in emerging markets' technological leapfrogging, Arctic logistics, and ESG-integrated risk management. Furthermore, the event emphasizes that effective adaptation to these structural shifts requires robust immigration policies, educational system modernization, and a focus on diversity as a tangible driver of financial performance.

  9. Milken Institute59 min

    Global Capital Markets

    Rachel Pether, Hazem Ben-Gacem, Jeremy Coller, Tom Finke, Joseph Naggar, Michael Clowden

    Panelists Joe Nagai, Tom Fink, and Jeremy Collar analyze the convergence of geopolitical headwinds and market cycles, noting a shift from valuation-driven public markets to private asset classes focused on operational value creation and distress opportunities. The discussion highlights a strategic pivot toward real estate resilience, private credit maturation, and emerging market exposure in China and the Middle East, while addressing specific risks like currency volatility and divergent regional economic performances. Concluding with industry forecasts, the experts anticipate a new paradigm where the global economy transitions toward consumption and service dominance, driving capital flows into private markets as traditional credit metrics face obsolescence.

  10. Milken Institute53 min

    The Cost of Chronic Disease and the Future of Treatment

    Hugh Waters, Hawaa Althahak Almansoori, Sumit Jamuar, Nancy Knight, Freda Lewis-Hall, Hawa Al-Mansouri

    The event examines the escalating chronic disease crisis in the MENA region, where obesity and diabetes rates now rival US figures, driving a $20.5 billion economic burden and necessitating advanced mobile surveillance strategies. Experts highlight critical gaps in genomic data representation and clinical reference ranges that risk misdiagnosing non-European populations, while detailing how falling sequencing costs and AI are enabling precision medicine. The panel concludes by advocating a systemic shift from reactive sick care to proactive health systems that prioritize lifestyle modification and predictive prevention to mitigate future disease burdens.

  11. Milken Institute58 min

    Asset Management Outlook 2018

    Joseph Dowling, Rick Lacaille, Daniel Lopez-Cruz, Neal Wilson, Hoda Abou-Jamra, Mark Wycroft

    State Street's Rick Lakai, Invesco's Daniel Lopez Cruz, and EJF's Neil Wilson analyzed critical structural shifts in portfolio construction, US banking consolidation, and private equity supply dynamics at a recent industry panel. The discussion highlighted State Street's push to separate smart beta from active management, Wilson's identification of regulatory arbitrage opportunities in regional banking, and Lopez Cruz's warnings regarding the difficulty of sustaining alpha as private equity fundraising concentrates among top funds. Furthermore, the experts evaluated emerging market allocations amid US-China tensions, the divergent paths of ESG regulation between the US and Europe, and systemic liquidity risks associated with covenant-light leveraged loans and thematic ETFs.

  12. Milken Institute58 min

    From Stigma to Treatment: Tackling the Global Mental Health Crisis

    LaTese Briggs, Lynne Goldberg, Annalisa Jenkins, Elie Karam, Colin Lawlor

    A global panel of experts, including Dr. Lattice Briggs, Annalisa Jenkins, and Colin Lawler, highlights a rising mental health crisis driven by chronic stress, sleep deprivation, and systemic barriers that threaten to cost the global economy $16 trillion by 2030. The discussion identifies ignorance, stigma, and an overreliance on institutional "sick care" as primary obstacles, while advocating for a shift toward community-based prevention, digital interventions, and emerging pharmaceuticals like psilocybin. Speakers emphasize that resolving this crisis requires treating mental health as a human rights issue and integrating preventative care into existing community infrastructure to sustain the future global workforce.

  13. Milken Institute58 min

    Investing in Volatile Markets

    Manus Cranny, Todd Boehly, Joshua Harris, Mike Novogratz, Amanda Staveley, Cornelia Meyer, Mary Daly, Tim Gosher, Yusuf Kutsy

    Mike Novogratz, Joshua Harris, Amanda Stavely, and Todd Boehly convened to analyze a market landscape defined by impending political volatility from the Mueller report, a slightly inverted yield curve, and aggressive private equity leverage levels. The panelists distinguished between transitory trade tensions and a persistent tech war, while highlighting divergent investment strategies ranging from high-yield litigation funding and UK infrastructure to specific allocations in Bitcoin as a hedge against sovereign debt crises. Ultimately, the discussion concluded that despite dislocated assets and recessionary pricing, central banks retain sufficient firepower to stabilize the economy through future downturns.

  14. Milken Institute1h 1m

    World-class Healthcare: Investing in Biomedical Innovation

    Tanisha Carino, Christopher Hite, Bryan Johnson, Sean Parker, D.A. Wallach

    Moderated by Dr. Tanisha Carino in Abu Dhabi, this session analyzed the convergence of global biomedical innovation and market dynamics, highlighted by the historic $92 billion Bristol-Myers Squibb acquisition of Celgene as a catalyst for pipeline stability. The discussion detailed how falling hard science costs and platforms like Ginkgo Bioworks are compressing development timelines, while investment strategies increasingly favor foundational tools over singular disease treatments to address the translational gap between academic research and commercial viability. Despite concerns regarding venture capital concentration in oncology and systemic US healthcare incentives, the event projected that long-term pricing decreases and extended lifespans could emerge from global regulatory evolution and the integration of AI-driven data collection.

  15. Milken Institute51 min

    The Emergence of Venture Capital Mega-Funds

    Sumant Mandal, Ibrahim Ajami, Ron Cao, Fred Destin, Akshay Naheta

    Masayoshi Son and Mubadala are reshaping global venture capital through massive capital deployment and a shift toward active, long-term partnerships that leverage sovereign wealth and private equity scales. Their strategies address evolving market dynamics by capitalizing on China's rapid technological expansion while restructuring traditional fund models to handle hyper-scaling companies and data-driven investment decisions. As the industry matures, these entities are prioritizing localized execution and ecosystem connectivity to navigate liquidity challenges and compete with increasingly sophisticated public market alternatives.