It was the end of September when Morgan Stanley credit default swaps (CDS) were blowing out, and everyone was talking about 2008 deja-vu.
While at the office one of those mornings, we happened to hear someone on Bloomberg TV talking about CDS intelligently, pointing how how meaningless it was to just quote a price, and act as if that alone is telling you something.
After some exploring we figured out that it was new Bloomberg TV host Stephanie Ruhle, a veteran credit derivatives salesperson from Deutsche Bank. Aha: No wonder she sounded sharp talking about CDS.
She's been at the network for just over a month, and in that short time it's become clear that she's the most important new name in financial television. While there have been plenty of folks on TV who are ex-Wall Street, there aren't many who bring the metabolism and perspective of the trading floor to the screen, like Ruhle.
Earlier this week we caught up with Ruhle at the Bloomberg offices to talk about TV journalism, the future of Wall Street, Occupy Wall Street, derivatives, and making huge career switches.
We were particularly fascinated to get a discussion of financial TV from someone whose background is on the trading floor, and what frustrations they had about it:
So my complaint had been—especially during the crisis, I often felt like, do people in business news realize the weight their voice carries? And I think you hold that with a big responsibility. Here I’m really impressed with the integrity. I think it’s easy to get people to hear your voice if you’re saying a splashy headline. And I can even see myself—because when you’re not saying it on TV, if you’re just saying it amongst your friends, you can say something big and bold, because it doesn’t carry any weight. You’re sitting at a dinner table or you’re talking on a trading floor. When you say something on TV, you better be damn well sure what you’re saying is fact, because you could move a market.
....
For these boutique banks—just today Bill Cohan said on TV, are these boutiques set up to fail. Meaning, is the way they fund themselves so dangerous that just one notch in a ratings downgrade could put these guys out? So you have to weigh your words and know your facts so carefully. And it’s something I find myself—I have to catch myself. Because I’m quick to lean back in my chair, put my feet up, and say, “My God, their clients are going to pull out.” Well if you say that sitting at a table, who cares. If you say it on TV—you could actually cost someone their business. But that’s kind of exciting, you know?
Awesome. Bottom line: There's someone on financial TV that sees the news through the lens of people who it's intended for, something that can't be said for many on TV.
Anyway, you can catch her on Bloomberg TV's Inside Track every morning at 6:00 AM -- we recommend you do.
Below is our full interview with Stephanie.
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Stephanie Ruhle Interview
So where are you from?
I grew up in New Jersey but I went to Lehigh University which is an engineering school, but I quickly decided that wasn’t a path I wanted to take, and I have an older sister who’s an architect who had just finished school who said to me, “Go abroad for as long as you can because once you start work, it’s all over.” So I went abroad and I studied in Kenya, Guatemala, and Italy, and while I was living in Italy I decided I really wanted to stay in Europe and I studied international business—I wanted to stay in Europe; this was pre-everyone-doing-everything-online. I wrote letters to Lehigh alumni to get a job at a bank because I figured, “Well, they have banks all over the world.”
How people used to get jobs.
“I’ll go work at a bank, they have those in all parts of the world.” So I got a job with Merrill Lynch, who actually ended up sending me back to New York. Which was fine, I hadn’t been home in a long time. And I worked at Merrill for a summer, in the bowels of derivative documentation, some truly horrible file-room internship, and one day I had to make a delivery onto a trading floor, just a manila envelope. And on that day, at that moment—and this happens to a lot of people—I was bit by the trading floor bug. I said, "I don’t know what anyone here does for a living but this is what I’m going to do when I grow up."
I ended up meeting a few guys who were interest-rate derivatives traders who became hugely helpful to me, who really taught me the ins and outs of their market, and I spent the next year just studying it. I interviewed around the Street and I ended up going to Credit Suisse in their training program, the undergrad sales and training program, and originally I was slated to go aboard. I wanted to work for a foreign bank because I wanted to leave the country again.
But my first rotation was on their corporate bond desk. Which again—totally vanilla, domestic. But a mentor of mine said, “Take a job while you’re being offered it.” If you’re an undergrad, especially now young people are like, “Well I’m interested in this, I’m interested in that”—if you’re young, all you have to offer is your tenacity. So they had a seat, it was open and I took it. In retrospect I probably wish I would have gone into research for a few years but I went right into sales covering plain vanilla insurance companies, money managers, but within about a year it’s when the credit derivatives market was just being born, and I met up with guys who ran CS financial products, which was a separate part of CS at the time, and they basically said we’ll teach you credit derivatives if you get us access to the clients.
I said deal, so I ended up covering the majority of the corporate clients at CS for credit derivatives. And this was again when no one—
How long had you been there at that point?
Maybe a year and a half. So when I was 23, 24, I started covering hedge funds—a lot of this was luck—when no one else did. This was before hedge funds were the prettiest girl in school, this was pre-nose job and treadmill for hedge funds when nobody talked to them—back then it was just all about insurance companies and money managers. So I stayed at CS for six years, focusing in credit but mostly credit derivatives, and my biggest client at the time was Boaz Weinstein who now runs Saba and he was at Deutsche at the time, and Deutsche was just a much bigger derivatives platform than CS was—and CS is an amazing firm—and I also made the leap because at the time the guys who ran credit trading there, a guy named Jack DiMaio and Nasser Ahmad, were leaving to start a hedge fund called DiMaio Ahmad Capital and Jack then went on to run the securities division at Morgan Stanley but he’s left since then. So they were leaving CS and those were my mentors, and they gave me the tip that it might be time, so I left and I went to DB. I stayed at DB for eight and a half years and I loved it, DB is a phenomenal place, it is a place for young, aggressive stallions. That’s what they bring in, DB brings in race horses to run and run. I think for young people and I think for women it’s great to work in new products and derivatives products, because if you work in a plain vanilla product it’s going to take you decades to get to a level where other people are. If you work in a brand new business, no one is more experienced than you are. I think especially if you’re a woman—and when I started in the business I thought I’d have a shorter career span than I actually do now—when I first started I said, I want to be a Managing Director when I’m 30, and then that’s it. And then I’m gonna go home, I’m gonna pack it in. And I made MD when I was 30 but by no means did I think I was going to leave at that point. I felt like, hey, I’m, just getting warmed up.
So I stayed at DB and DB—if you wanna work in any new emerging businesses it’s great, and they have smart smart people there. And I loved it for a long time and I still do, but I had a lot of interest always in working in television. Before I ever did this, this was something I was interested in. Very early in my career I almost went to journalism school. This guy Nasser Ahmad who’s now at Temasek in Singapore, said to me. “You can always go to journalism school. You will end up a weathergirl in Tuscaloosa. You have a real future in this business, don’t go. You can end up in business news at some point.” And I didn’t go.
So this was something I had interest in for years. Probably five or six years ago I started doing a lot of public speaking for DB, I founded their women’s network. I spoke at universities, at women’s events, about women in the business, women in power, and for DB in general. I started—I went on other networks as a guest and spoke. But this was something in the back of my head for a long time. I think in ‘08, me, just like a lot of people in the market, thought about decisions we make. The Street has taken a lashing as far as the brand of being in this business. I think a lot of people who go into the business say, “This is a great trade, I’m want to do this financially, and one day I’m going to pursue my dream.” And I’m not necessarily saying this is my dream, but I think people forget what their dreams and their goals are because their life becomes taken over by their lifestyle and the cost of their lifestyle. In ‘08 when a lot of people on the Street’s lives had to change because it was the one year we didn’t get paid, I think that’s a wakeup call. Your life shouldn’t necessarily cost exactly how much money you make.
I thought a lot since ‘08 about feeling great about what I do. I think this is especially for women—success is as much about financial success as it is about achievement. One of the things if you work on the Street is, a trading floor is great because it’s very very flat, so when you’re young you can climb and climb and climb and no one’s ahead of you. And then you get to a point. And there’s only a couple big jobs. And for me, my career started to become a job, and I don’t need a job. I want a career. I don’t want a job. I have two young children at home. If I’m going to do this I want to love it every day. And the things that I started to loving the most about the business was having a seat at the table. Sitting at roundtable discussions, roundtable dinners, understanding what seven different people with seven different perspectives have to say. I think it takes getting to that point in your career to ever see that. Because especially—look at the hedge fund community. You have hedge funds with tens of billions of dollars—that’s always where my client base—as a salesperson, you’re not talking to hedge fund founders anymore. You’re talking to a trader, a guy who’s taking an order, who’s just executing business. And I wanted to sit around people making the big decisions.
TV, again, I’d always been thinking about it. And then about six months ago, I was giving remarks at something called the White House Project, which is a women’s leadership organization founded by a woman named Marie Wilson. There was about 15 women at the table. I was probably the most junior woman there. And at the end, Marie asked everyone to go around and say what would they like to do in their next chapter. And when she first asked I thought it was funny because it was this table of really accomplished women, and I thought, what else could these women want to do, in theory they’re it, they’re on top. And every woman at the table had another chapter of what she’d like to do next. I said I’ve always wanted to work in media and I know it’s a huge leap, and it’s totally different but it’s something I’ve always wanted to do. And there happened to be somebody there at the table—I sit on the board of the White House Project. And another board member works here [Bloomberg] and she runs leadership and diversity. After she said, have lunch with me. I sat down with her and she said, is this something you could really want to do. I said I don’t know, maybe, if I got the right seat, sure. And then she introduced me to Andy Lack and we talked about it for awhile and the rest is history.
I’ve only been here a month, but I like it. I think business news was much easier pre-‘08. It was, stocks are going up, here’s an IPO, look at the company, let’s have a party! Main Street cares about business news right now. There is such a visceral response to the Street. And I’m not saying that there shouldn’t be. But I think there should be someone who has a different perspective at the table, who doesn’t necessarily—and I’m not saying I have a brand. I’m not saying I’m pro-Wall Street or I’m anti-liberal media at all. But I think I’ve worked in the business for a long time, and especially my careers in derivatives, credit derivatives. Warren Buffet—
I was just going to say, the first time I noticed you on TV it was the day that Morgan Stanley CDSs were blowing out. And it stuck out to me because you actually had something to say, about how you have to be careful, volume, pure numbers—the pure CDS price is misleading. I turned my head and said, oh, a non-cliched comment.
And I’m not saying that credit derivatives are the answer to anything, I’m not even defending them as a product. But I want to be part of a conversation where I believe I can say, here’s what they really look like.
That was my impression—someone is talking who actually has something to say, knows something about the product rather than just quoting a price.
And I think quoting a price, specifically in derivatives, is really misleading. Because when things are higher, that’s actually worse. Whenever I read a headline and they say “CDS spreads have plunged”—it makes me cringe. But that’s a positive! I think it’s great to be part of a conversation and give a different perspective. And the perspective doesn’t even have to be pro-Wall Street. There’s tons of criticisms I can make from being in it. There’s tons of things the business does wrong, especially from the banks side. Hedge funds for example move much more swiftly than banks do, and banks move much slower in making the right business decisions merely because there’s so many people who work there.
So I really enjoy—in many instances I’m still working with so many of the people I’ve always worked with. Almost every day I have a guest on who’s either a colleague or a client of mine. So it’s not like I’m having different conversations—I’m having more of them. This is an exciting place to sit. People now more than ever, in large part because they’re so mad at Wall Street, they want to understand it. Again, I’m not saying I have the answer, but I think I have an insider’s perspective, I do.
So is it what you imagined? How is it different, or how is it the same.
Goddamn, my wakeup call. I’m used to spending every night of the week out, and now I’m spending every night of the week home in bed, which is very different. It’s different in that I’m so impressed. I’m so impressed and amazed by how news moves markets. If you would have asked me when I was 23 what I loved about the business, what I loved about the business when I was 23 is waking up and turning on business news or my alarm clock went off—world events happening in Asia affecting my day. I loved that when I was 23. Well now I love that in another career times ten. It’s amazing to me how business news actually affects the way the markets move. I think it’s a huge lesson—you have an obligation as a news organization to report good stuff, and the right stuff.
If you looked at the way the markets have traded in the last six months, with everything going on in Europe—these markets trade on headlines. They don’t trade on fundamentals. You’re not seeing stockpickers win in these markets. You can know everything there is about a technology company in Austin, Texas, but it doesn’t matter—if Portugal is falling off the map, that’s what matters. And that’s what business news’ responsibility is. And I felt like in a sales capacity, my responsibility was to help my clients navigate their way. It was never—a salesperson’s job is never to give a client all the best trade ideas. There’s no hedge fund in the market who if you go to their investor day, they say, “We get all of our ideas from a salesperson at Morgan Stanley. Here’s his picture!” But it is your job to help your client navigate difficult markets, and I think that’s our job here, and it’s just a bigger client base—the client base is Wall Street and the client base for people at home.
When you were on Wall Street and you would have financial TV on, did you ever get frustrated?
Yeah!
What were the main frustrations?
That’s exactly it. I’m a firm believer in—you cannot complain about something unless you’re willing to do something about it. And if doing something about is simply, sending a Bloomberg saying I don’t like what you said, I wish you would say it differently, or—getting up there and rolling your sleeves up and saying I’m going to be in it.
No, I had complaints for a long time. But I have a ton of respect for business news. Not just Bloomberg, but any organization—knowing what is relevant is so difficult. I struggle with it now in the fact that, every morning we go into a meeting and after I say what’s relevant someone turns to me and says, well that’s way too nerdy, no one cares. I don’t have a great frame of reference—I’m a credit derivatives person who’s married to a credit derivatives person. So every angle I have is, oh my God, what did you think about sovereign CDS today, and people are like, unlike you Stephanie, I didn’t talk about it at dinner with my spouse. And I’m like, oh, I forgot, I did.
So my complaint had been—especially during the crisis, I often felt like, do people in business news realize the weight their voice carries? And I think you hold that with a big responsibility. Here I’m really impressed with the integrity. I think it’s easy to get people to hear your voice if you’re saying a splashy headline. And I can even see myself—because when you’re not saying it on TV, if you’re just saying it amongst your friends, you can say something big and bold, because it doesn’t carry any weight. You’re sitting at a dinner table or you’re talking on a trading floor. When you say something on TV, you better be damn well sure what you’re saying is fact, because you could move a market.
Especially with stuff you’re talking about—a bank CDS—
If you’re talking about—think about what we talked about this month. MS, MF Global, and now Jefferies. All of this is about a crisis of confidence.
So merely talking about it does have an issue.
For these boutique banks—just today Bill Cohan said on TV, are these boutiques set up to fail. Meaning, is the way they fund themselves so dangerous that just one notch in a ratings downgrade could put these guys out? So you have to weigh your words and know your facts so carefully. And it’s something I find myself—I have to catch myself. Because I’m quick to lean back in my chair, put my feet up, and say, “My God, their clients are going to pull out.” Well if you say that sitting at a table, who cares. If you say it on TV—you could actually cost someone their business. But that’s kind of exciting, you know?
The other thing that I love—I love that, I love the nervousness, I love that anxiety. I love the adrenaline. I was drawn to the Street because I love the adrenaline, and for me in my last couple years I definitely didn’t feel as much of it. Wall Street’s a heavy place right now. Just last week I interviewed Ace Greenberg. It was great because that’s a man who’s had fifty years in the markets, and I went to talk to him about the death of Wall Street culture because it very much feels like it’s gone. And here’s a guy who’s been in the markets for fifty years, who said to me, “What are you kidding me? This is the best business you could ever be in.” Look at the stock market, right—we had an unbelievable October. The perspective from a guy who’s done this for fifty years was just amazing to me because when you actually talk to people in the trenches right now, they’re feeling heavy. Occupy Wall Street makes them feel heavy. And it’s great to talk about it, and that’s what we do here.
I mean I’m not camping out at Zuccotti Park, but—
Have you been down there?
I’ve been down there quite a few times.
What do you think?
I have a huge amount of respect for anybody who’s standing up for what they believe in. In the beginning of the protests, I sort of felt—exactly what we talked about earlier, in, if you’re going to complain about something, tell me what you want. Tell us what you’re looking for. And in the early days I felt like, what are we talking about here? Listen, I don’t know if I agree with all their issues, but I know that young people in this country—I want every young person in this country to have the right to live the American Dream. I know that I get to live it, I’m proud of the fact that I get to live it, I want my children to live it, and if these people feel like they’re not being afforded the right to, we should help them.
But if they’re not and it’s unfounded and they’re complaining, well then push that aside.
How good of a job do you think Wall Street has done at being aware of their public image? From my perspective, from a lot of people’s perspectives, it’s like, how could these banks be so tone deaf?
They’re not tone deaf—they’re not tone deaf. Oh my God. They are not tone deaf. But one has to be so careful of the downside risk of opening their mouth. That’s something I knew from when I was at DB and I know it here. The Main Street/Wall Street relationship is so tense right now. I think Wall Street’s response has been, I’m going to protect myself and say nothing. Because all it does is open me up—my downside risk is so much greater than my upside. And I understand that. Because you’re dealing with angry, angry people. And I can only hope that the anger of the people who are part of this movement doesn’t get to a point where it’s an issue of public safety. I mean I’m worried about people who live down there—what about people who live in the financial district, who have young—that’s an area where—I live in Tribeca, my children go to school a few blocks away from there. How many derivations are we away from this being an actual public safety issue? Across the street from the stock exchange, there’s a school, there’s a private school. What about those children? I’m worried about that, I’m worried about young people feeling motivated—but I often ask myself—when I got out of school, I never asked myself, do I want to work for the man? I asked myself, which man will give me a job?
Is that a criticism of young people now? I don’t know because at the same time I’m amazed by the entrepreneurial spirit that young people have. I’m amazed by the sense of social and moral obligation that they have that I didn’t have. If you look at how much young people today care about giving back, it’s extraordinary—it’s so much more than people—I mean I’m 35, I didn’t think about that when I was their age. But at the same time, I would recommend to anyone—don’t waste your twenties messing around. Your twenties are the time when—when I was in my twenties, I worked so hard. That is your time to go everywhere, to work so hard, for any assignment someone gives you, take it. Work so hard, work around the clock. And once you do that and you build a business and you build a brand, once you’re in your thirties, you have some flexibility to do different things.
For me, making this leap into TV, it was a huge leap. I was completely afraid to do this. It took me almost 15 years to build my business at DB. In the Street I was very very afraid to walk away from it but it was time for me to take a leap. And if this doesn’t work it doesn’t work. If it’s something you said you always wanted to do—one of the things the Street does give you, it affords you the opportunity to take a leap, and for me at least, you have to do it.
Could you ever see yourself going back?
Definitely! Definitely. Is this something permanent for me? Maybe, or maybe this is the stepping stone to the next thing I’m going to do. In my last year at DB, I went from sales to a role called Senior Relationship Management where I was covering hedge fund founders, CIOs, CFOs. It’s a strategic relationship tying in sales and trading as well as banking. I’m still very tied to my old job, I’m still very tied to DB and my clients. Could I see myself running business development at a fund? Definitely. Could I see myself raising money? Definitely. This job that I’m doing right now—I love it. I think it’s expanding my Rolodex. I’m going to continue this ride or see where it takes me. But this has been an extraordinary experience. Bloomberg is an unbelievable place.
What’s awesome about Bloomberg?
What isn’t awesome about Bloomberg? For me, I’m a Bloomberg terminal user for my whole career. For people who aren’t in the business, I don’t know that they realize the power of the Bloomberg.
I just only in the last six months did I finally get one right next to my desk.
Nice! You can’t live without it.
I can’t even really go home and work on my computer now.
You can’t live without it. I’ve never used—what did they used to have? AOL Instant Messenger? I never used AOL Instant Messenger. Until just a couple years ago, because my husband and I are both on the Street, as are every person in my life, I didn’t even use a home email until a few years ago. Since I joined Bloomberg I wonder, because I don’t have a journalism background, where does anyone else get their news? If you didn’t have the Bloomberg terminal, where would you get your news from?
When I’m without it I just feel like I’m totally blind now. I don’t know how I ever did my job before.
With the advent of Instant Bloomberg and Bloomberg Anywhere—Instant Bloomberg changed Wall Street.
Which is Instant—
Instant Bloomberg is the IB chat. So back in the day, traders and clients didn’t even necessarily know one another. The salesmen sat in the middle. Now if you walk onto Goldman Sach’s fixed-income trading floor traders will have 30 Instant Bloomberg chats open and they’re talking to customers all day long. I remember in my last few months when I sat in sales, feeling like “Wait a minute. Why does it feel like at the end of the day, I’m just picking up a trading ticket, which is what I did 14 years ago?” Bloomberg is in many levels the center of what so much of us do on the Street. I think for example, top stories—I want to talk about top stories. At the top of every hour. I want us to spend five minutes saying, this is what was most read this hour and this why. And what was most read isn’t necessarily what Berlusconi’s saying, it might be “Look what Tiger Woods just did.” But when you work on the Street, when you leave your desk to go do anything and you come back, the first thing you do is look at top stories… or Business Insider. Obviously.
It’s incredibly powerful having that as anyone in media, not having to guess at what people are interested in.
And you know there’s a function called “Read.” So you can actually—and I only learned this since I came here—
Is that the red headline?
No, r-e-a-d. Top Stories are what Bloomberg deems as the most important stories, but Read is what has been the most read. And the reason that’s interesting—you can do that on Google, but on Google you’re factoring in the millions of teenage girls who want to read if Justin Bieber just fathered this baby. Hopefully, when Bloomberg Terminal users are looking at—
Well, sometimes they are.
Yes, I’m sure a portion want to know, is Justin Bieber a new father. But I think they more want to know, is somebody taking a run at Jeffries. And so having the power of Bloomberg here is amazing. This is a hugely forward-thinking company, and what I love about Bloomberg is very similar to both firms that I worked at. CS and DB, both very big firms, are very entrepreneurial, especially DB. DB very much has this scrappy brand where if you have an idea, and it’s a good enough one, you can run with it. Now if it fails, no one’s gonna necessarily catch you, give you a band-aid and hug you, but you know that going in.
I’m amazed and impressed that Bloomberg—I mean every day I sit in my seat after the show, and I send out, “I think this is important and I think we should pay attention to this”—and people do. Not that my word is the last word, but if you stand up and you say “I’m going to make a case for this.” I mean tonight, on the Matt Miller show Rewind, we’re gonna talk—I mean I did a 30 minute interview with Gloria Steinem. In theory, what does Gloria Steinem have to say about the economy? Well, she has a ton to say about the economy. I want to hear what a woman who’s led her life has to say about Herman Cain, about the fact that—OWS is about people who are angry about inequality in this country. Well in this country, women still get paid 70 cents on the dollar to a man’s dollar. What matters there? That’s another side of this conversation, and the great part about business news: you can sit and talk about that. And if you bring an idea to Bloomberg and it’s a good one, we’ll talk about it. And luckily, we get to talk about it with people watching.
That’s really cool. Any other parting thoughts?
How about that booty call article you guys had this weekend?
Yeah what was that? I was busy doing something else.
I read that. What else would I say. One of the reasons I’m most—when I first started talking to Bloomberg, I was excited to come but I wasn’t excited to come yet. For me, I couldn’t walk away from my job to come here with the chance to maybe come on TV sometimes. I needed to come to Bloomberg for a real platform. And when we sat down and we talked about Inside Track, it’s exactly the platform I wanted. Because when you think about people on the street watching financial news—it’s from 6 to 8 AM. Either you’re watching it while you’re getting ready for work, you’re watching it while you’re on the treadmill, or—I spent years—oftentimes on a credit trading floor which is where I sat, the morning meeting is at 7:15. So that 7 AM to 7:15 is your injection of every world market. So you can scour websites and the newspaper or you can watch business news, and that’s what I definitely have done for at least the last ten years. So being part of exactly that show—saying, “Here we are, here’s what the most important things of the day are”—is fantastic.
It does seem like it’s the only time of the day that really matters, the rest of the day can kinda—
They matter in different ways, but it’s that morning—and it’s exactly what we talked about before. Knowing, here are the seven pieces of news that are going to affect your day. It is for me the most exciting part about working on Wall Street—that things happening around the globe have a direct effect on your day. It’s a hugely exciting part about this business, but then on the flip side of it—tonight for example, Rewind is Matt Miller’s show, and I’m going to co-host with Matt Miller tonight, and I absolutely love Rewind, because Rewind takes every important piece of news during the day, and we watch every clip, and then we opine about it. One hard thing about morning television is, the news that you’re giving is so important and people need to know it. There’s very little time to sit back and digest it. For me the role that I will play or I am playing at Inside Track is sort of breaking down the, “what does that mean.” We go through—here’s the five stories that are making headlines. And I think my segment of, “But why do we care.” And I really like that because it’s what I’ve asked myself for 15 years and it’s what I ask myself now. I come in and I spend a lot of my time on Bloomberg Bloomberging people in the market and all throughout the show I’m getting Bloombergs and tweets from viewers saying “Talk about this”—some are aggressive and some are positive, but if you’re interviewing a guy who is a former prosecutor who prosecuted Refco, ask him this, ask him why this happened to MF Global. And that feels—it feels like this TV program, you are part of a community, where people are telling us “Here is what I want to know” and I think we’re delivering it. And I think as we’re developing, the show is going to be more like that. And I really like that. I want it to be a collaboration. I don’t want it to be Bloomberg saying, here’s a beginning of the day, here is what we’re going to tell you. In the month I’ve been here—I come into work at 4:15. By 4:30, my Bloomberg screen is filled from terminal users saying, talk about this today. Are some of those self-interest? Maybe, but it’s people saying, this is what I need to know about or this is what I want to know about, and it’s great to do that. And that’s what I do for a living right now.
That’s awesome.
Thank you so much for watching! Thank you for your support, I sincerely appreciate it. You know, I’ve never done this before, brother.
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Note: Much thanks to Clusterstock intern Alex Howe for great transcription work on the interview
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