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Inside Top Hedge Fund Earners for 2023 Feb 20, 2024

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Bill Ackman has had a big year. His constant posting and vocal condemnation of antisemitism on college campuses has won him over a million followers on X (and more than a few critics). Meanwhile, his hedge fund, Pershing Square Capital Management, has netted him $610 million in earnings.

Where Ackman’s online strategy is loud, Bloomberg wealth reporter Tom Maloney says the hedge fund manager’s financial strategy is more hands-off. And it’s working.

On today’s Big Take podcast, Maloney reveals the paydays of last year’s top hedge fund managers, and why the same big players keep appearing on the list despite the economy's ups and downs.

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The Little Sanctions Office That Could Feb 19, 2024

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America’s use of sanctions has grown by almost 1,000% since 9/11. So why isn’t Congress giving the office in charge of them more resources?
Today on the Big Take DC podcast, host Saleha Mohsin talks to John Smith, a former director of the US Office of Foreign Assets Control, and Bloomberg National Security editor Nick Wadhams about OFAC’s scrappy operation and why lawmakers aren’t giving it more to work with.
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Commercial Real Estate Can’t Ignore Its Empty-Office Problem Anymore Feb 16, 2024

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The commercial real estate market has been upended by changing office habits and rising interest rates. For years, lenders and global investors did not have to confront these plunging building values. But with deals picking up again, the reality can no longer be ignored.

On today's Big Take podcast, Bloomberg real estate reporters Natalie Wong and Patrick Clark share how these losses may ripple across the global financial system.

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Third Party Candidates May Cause Trouble for Biden or Trump Feb 15, 2024

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American voters are so disillusioned by their options in the presidential election that pollsters have come up with a term for it: “Double-hater.” These are people who don’t like President Joe Biden or former President Donald Trump, who leads the race for the GOP nomination. And yet, when asked by the Big Take DC podcast if an outsider candidate could break through in 2024, Ralph Nader, who ran for president outside the two major parties four times, gave a simple, “No.” Still, there are some indications that third-party candidates could cause trouble for the frontrunners.

In this episode of Big Take DC, we examine the impact an outsider candidate could have on the general election and efforts from groups like No Labels to offer a viable alternative.

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Unexpected Power Surges Are Putting US Homes At Risk Feb 14, 2024

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The US power grid has long been under pressure. But now, aging infrastructure is facing more extreme weather, more electricity usage and more renewable energy coming online.
These strains on the grid mean dangerous power surges could potentially flow directly into people's homes. In today's episode, Bloomberg's Naureen Malik takes us inside the realities of electrification.

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Why Driving A Few Miles Can Save You Thousands on Health Care Feb 13, 2024

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For years, the true price of health care in the US has been the result of negotiations between providers, insurance companies and government agencies. But for the patients, companies and taxpayers who pick up the tab, it's often been a mystery. That's led to hospital pricing that’s all over the map.
In today’s episode of the Big Take podcast, Bloomberg reporter John Tozzi explains how patients at almost half of US hospitals can find significantly less expensive competitors within 30 miles. And we hear from Jen Villa, a special education teacher from Salinas, California, who has felt the impact of those pricing disparities firsthand.

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What the 2024 US Election Could Mean for China Feb 12, 2024

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China’s economy has been in rough shape, and the government is trying to address it. But there’s another threat on the horizon: the US election.
During their presidencies, both Joe Biden and Donald Trump backed policies that drove the US and China further apart.Now, they're both campaigning for re-election on continuing on that trajectory.
In this episode, Joe Weisenthal and Tracy Alloway from the Odd Lots podcast speak with Tom Orlik, chief economist at Bloomberg Economics, and Mackenzie Hawkins, US industrial policy reporter for Bloomberg News. They’ve measured what a Trump or Bidenvictory in 2024 could mean for China’s economy, and beyond. Subscribe to Odd Lots to get all of their episodes.

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The Last Great American (Football) Dynasty Feb 08, 2024

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This Sunday in Nevada, the Kansas City Chiefs will face off against the San Francisco 49ers in Super Bowl LVIII.

Both teams, like lots of others in the league, have been owned by the same family for decades. But with soaring valuations for NFL franchises, and owners getting older, the NFL's long standing family ownership modelis facing new threats.

As the football league debates potential rule changes that would allow private equity investors to buy into teams, Bloomberg sports business reporter Randall Williams joins today’s Big Take podcast to answer our pressing question: Could this be the end of the last great American dynasty?

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How Crypto Is (Finally, Actually) Winning Over Wall Street Feb 07, 2024

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The meltdown at FTX scared a lot of retail investors away from crypto. But many big banks have doubled down, and are pushing cryptocurrency more into the mainstream.
In today’s episode of the Big Take podcast, Bloomberg senior crypto reporter Olga Kharif explains how traditional financial institutions have gotten behind the technology underpinning crypto and what it means for the rest of the industry.

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Libya’s $5 Billion Fuel-Smuggling Trade Has a Russia Problem Feb 06, 2024

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In September 2022, a tanker called the Queen Majeda was stopped by authorities in Albanian waters, stuffed to the gills with $2 million worth of marine gas oil. The ship was coming from Libya’s port of Benghazi. And according to the Albanian authorities, the oil they were carrying was being smuggled out of the country illegally.
The Queen Majeda was just the tip of the iceberg of Libya’s $5 billion fuel-smuggling problem, Bloomberg’s senior global business reporter K. Oanh Ha discovered. She learned from the head of Libya's audit bureau that as much as 40% of the fuel imported to Libya under a subsidy program in 2022 was smuggled out. And by tracking shipping data, Ha found that a lot of the fuel exiting through illicit trade originally came from Russia. The fuel then made its way from Libya into European countries that have banned Russian fuel imports.
In today’s episode, Ha unravels the mystery of the Queen Majeda – and reveals how Russian fuel flows through Libya to dodge European sanctions.

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