YouSaid · the spoken record

Anthony Scaramucci

lines on the record: 139
first: 2015-05-02
most recent: 2015-05-02
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“And people said to me, well, how is the conference business tie into your seating business? I didn't have a great answer, but I knew that there was an opportunity. I said, well, maybe we'll have a lot of hedge funds there and we could populate our seating business. But what it really turned out to be, it turned out to be a great networking opportunity. And in the network, I discovered that Citibank needed to sell many of its non-core assets.”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, we may made two decisions there. Number one, we started the SALT conference. President Obama said, now's not the time to go to Las Vegas, and all the TARP recipients canceled their conferences on Las Vegas. That upset the mayor of the city. I called him Oscar Goodman, and I said, listen, I want to bring a hedge fund conference to your great city. And so he put me in touch with Michael Milken. He put me in touch with the former governor. I got to meet Steve Wynne, and we put the first salt conference in May of 2009 in the Encore hotel, which is part of the Wynne Complex. I tell the story that way because we were really on our knees and I thought, okay, maybe we'll go into the conference business. There's a huge void in these things.”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I would describe it as the old movie Apollo 13. It was a successful failure in the sense that the seeding business was the lunar module that we lived in as we tried to figure out what we were going to do to crawl back into the command module and get back to Earth. And so we had a bleeding asset, tons of redemptions, and there was a period, Barry, I'll look you straight in the face and tell you I thought we were going out of business. And I remember in March of 2009 with the Dow at about 6,500, the S&P at approximately 660, I thought this is it. And it was.”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“From Seeding. Yeah, that's an elegant way to say that you're failing and got to come up with some other idea. And so that's what we had to do. And I'll tell you that our seating business”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“We didn't have enough money to seed hunters of them. We ceded them in the years 2006 and 2007 in the early part of 2008. So we were in a barrel going over Niagara Falls. And so what's interesting is that one of those funds is doing quite well today, which we still own a small interest in.”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Mike Tyson. Everybody has a plan until they're punched in the face. That's exactly right. And so most generals know once they have contact with the enemy, the plan goes out the wayside. But for me, I had a seating idea. I was going to back early stage managers, take GP stakes in them, and then literally have RPs participate in the growth of the earnings streams of these managers.”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Right, you were looking. Yeah, my original concept and for the entrepreneurs out there, what happens is you start with a plan and then you have contact with the enemy and you have to switch your plan. And so I had an idea. That's the great mind.”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“The way the world works because your money world and the way the world works are completely intersected. And we know that from Federal Reserve policy. We know that from governmental policy. And so I'm going to try to bring a very broad cross-section of guess to the program.”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Last week, John. Who else do you have Well, if you look at the SALT conference list, it'll give you a really good cross-section of what we're trying to do. We want policymakers, hedge fund managers. We want possibly actors, music composers who say, geez, why do you want that? Well, you know what? Everybody in that group has a financial plan. And what the Immortal Lou Rookheiser would say to you is that the show has to be about”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Those old episodes. So if you go to Wall Streetweek.com, you will see archival stuff on there. We also have it up on YouTube. We're finding new nuggets, new treasure every single day as we mind that archive.”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“So, you're supporting my thesis, and yet we both know that the nation is undersaved. We're probably underslept, and we're probably overfed. We've got all the dials on our dashboard wrong. And so what we want to try to do is deliver a message to the average American that there's a simple and easy way to boost your savings, take more financial control of your life, put yourself on the arc of the aspirational society that we all want to live in. And that requires you to take a little bit of risk in the stock market in a balanced way. It requires you to have the right fixed income exposure and portfolio and to be patient. And you could spare yourself a latte a week. That's $5 a week. That's $260 a year. And lo and behold, you're building a little nest egg for yourself.”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“That's correct. So it's the access to the archives and the library. It's the likeness of Mr. Rukaiser. It's that great computer font digitization of the logo. And it's also the website, the Twitter page, the Facebook page. This stuff, I think, will be hugely valuable if we handle it right from an editorial perspective. I want to try to explain to people what's going on. I think since your bailout nation bestseller, I think the average American is super intimidated by the markets. Superintimidated by the volatility. They're uncertain. They're stashed in cash, if you will. And I think data just came out.”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“And this is a good segue because I do think that some of the punderry on business television is intimidating. And some of the punderry on business intelligent is for the impression of other pundits. They want to impress each other while they're talking to each other. And so what Lewis Rukaiser did was he waxed away all of that stuff, Barry, and he really just tried to deliver high, thoughtful content. And so that show lay dormant for about 10 years. A gentleman by the name of Jeff Salkin had actually bought the rights to the show. He had a website up called Wall Street Week. I had a conversation with him and Maryland Public Television, and I acquired the brand from him and Marilyn. The brand and the”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Gave it trusted the viewer to be smart enough. No question Lizan Saunders, who was on our show this past week, had a great story where she was very nervous the first time she met Lou. She was sitting in the chair. He said, are your parents in our business? And she said, no. He says, I'll tell you what, we're going to go on the air in a few minutes, but I want you to talk to your parents. I want you to explain the concepts that we're discussing to your mom and dad. If you do that, we're going to have a terrific show. And that's the spirit of what we're trying to capture with the return of Wall Street. So Wall Street Week.”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“For 20 something years. 30 years. 35 years It's an amazing show, and I've seen almost all of the film library, half hour show over 35 years. Lewis Rukaiser, classic guy, I think he was a master at explaining complex things in a way that regular people outside of our industry, Barry, can understand. And I don't want to say simplify them because these are very complex things. And sometimes when you try to simplify something complex, you really don't get it at all.”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“They did. They put $10 million of their balance sheet into our fund, which helped me get the catalyzation, if you will, of that fund started”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“He gave me $10 million of balance sheet capital, put it into our fund, a gentleman by the name of Jared Wade helped me get that done. He was on the senior relationship management team there at Lehman. So they seated you very much to a goal.”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“That's, well, you know what? Your elbows for somebody like you or me, our elbows may not be that short given the neighborhoods that we both grew up in. Sure. But when you're in that sort of corporate environment where everybody's wearing a white shirt and you have an opinion, it may not be something that people super like about you. And so I think the more successful guys, and God bless them, they have a way of talking and a way of navigating those situations that, you know, I wasn't super successful at. Having said that, Richard S. Fold, Dick Fold, who I have enormous amount of respect for.”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I'm an outsider. These guys had a strong culture, and it was a good culture, different from Goldman, but you have a little bit of an immune system because I'm transplanted in from Newburger, Berman. And I'm getting some immunal rejection.”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“It's time to March of 2005 And so I had worked at Lehman from October of 2003 to March of 2005. A lot of guys were departing from the Lehman Senior Management team. I went to the guy that I was working for. I said, listen, I didn't grow up here in this organization. Guys that are in, I was 41 at the time. I said, you guys that have grown up here 20 years that are now in your 40s are super tight with each other. I'm not in your outsider.”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“He's got a private company that he's dealing with now, which I predict at some point will probably go public again. But MSD Capital is, I think, a very diversified portfolio. In addition to venture, private equity, they've got long portfolio, fixed income portfolio. And him and his team there have done a masterful job of managing his money. And I'm pretty sure they've taken in some outside money at this point.”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“How often do you bump into him? I'm actually in touch with him less. I see him once in a while at the World Economic Forum in Davos, Switzerland. He's obviously super busy raising his family, as am I, and he's got also taken down.”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“1990s from No question. And one of my institutional investors, who I'm still very, very close to just retired from the Alfred P. Sloan Foundation, his name is Bill Peterson, remembers that deal fondly because he said it was the top performing name for him over a five-year period of time that he held the stock. And so a combination, like I said earlier in our conversation, a little bit of providential luck, good timing, but that helped me build a relationship with Michael. And I just have an enormous respect for him.”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Michael came into the conference room. I got called into a meeting by one of the Capitol Markets people. I was on the institutional sales desk at the time looking over the deal. And then they asked me, look, we're going to put a convertible bond together. Do you think some of your clients would have an interest in this convertible bond? And I went out and called several of my kinds who were on vacation. I said, listen, this thing has a very low premium, meaning it'll convert into a lot of equity. It has a high coupon. And I really think this is a good deal. And people looked at the financials and said, well, you know, the financials are a little shaky. I said, they are a little shaky, but this guy is not shaky. You're betting on Mike.”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“It wasn't so much what Michael did, but what Well, you know, listen, I call him Michael, but he is Mr. Dell. I mean, the guy is a masterful guy. He should be on your show. Make a call way more than me. But to tell you this story, it's 22 years ago, but I remember it very well. It was mid-August. Most of Wall Street was on vacation.”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“In college, he went public in 88 through Goldman Sachs in the summer of 1993. Michael had gotten into a little bit of trouble with his laptops. The introduction of his laptops, the batteries weren't working well. They were actually catching fire, and he had to stop the production, and he had a little bit of a cash bleed and a little bit of a spin out there. One thing Michael Dell said to me, in order to become Michael Dell and Dell Computer Corporation, there were about 8,000 decisions that he had to make, and he had to get about 7,900 of them right. And it's an interesting thing. And so he was in a tailspin, and one of his best skills, he's an incredibly commercial guy, was that he needed a little bit of help. He needed a little bit of financing. And this isn't.”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“themselves My days were numbered when I raised my hand at an MD meeting. I said, guys, why are we so focused on Goldman? I can guarantee that they're not that focused on you.”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“They'd sit at the conference table and say, Well, we're just as good at Goldman as this. We're just as good as Goldman at that. And I remember thinking, hey, who cares what you're just as good at? Focus on yourselves. And let's not have this relative comparison. I think it's a good message for younger people about their own lives.”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Sort of. And the other problem they had, and I do respect them, and I'm sorry that they're gone, but the other problem that they had, they had Goldman Sachs Envy. Well, so did everyone.”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Very different places. These things evolve differently over time, so I'll just talk about the culture I remember at Goldman Inclusive, team-oriented, the pronoun use was we. The pronoun use was our, and you had to pass the ball. You did way better. Lehman, they had one eye on the outside world, and they had one gun trained to the outside world, and they had one gun trained on each other. You see that? And that's a little bit more divisive”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Join Newberger. Yes, I remember the case study Gary and his dad and his brother Michael and Gary Kaminski and I go back to 1982 where one of his best friends from the town Hewlett that he grew up in was one of my roommates in college at Tufts. So I've known Gary forever and it was really a lot of fun to work with Gary at Newberger.”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“To Lehman Brothers. Right. And so that was an interesting point in my career because I had worked at Goldman Sachs and now we were all migrating over to Lehman Brothers and I became a managing director of Lehman Brothers in October of 2003.”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“How'd they do it? Yeah, it was multiple of revenues. But I think the interesting thing about it is none of us were crying when we did the deal. But I think the interesting thing about it is you have to make sure if you're ever going to do a deal like that on your own company and you're going to sell it, you got to make sure you sell it to people that are similarly situated personality-wise. Thank God that was the case for us. I sold the business to a guy named Bob Matza and Jeffrey Lane. They were the two senior guys at Newberger, and they lived up to their promises. They were great people. Newberger then went on to sell Newberger Berman.”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Sales to his assets. I'm an open guy, but I did sign a confidentiality group. I assume as much? It was a reasonable multiple. I mean, I think.”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“They contacted Greg Fleming, who was the M&A banker at Merrill Lynch. He's now the president of Morgan Stanley. Greg was our merger banker, and we did the deal six weeks after the 9-11 terrorist attack.”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“So it was Andrew Bozart. So his name was BOS, my first name. My last name is SCAR. We dropped the B, called it Oscar Capital. Worst name in financial services history. Every time we had a meeting, people thought, are you affiliated with Oscar Meyer, the hot dog company? You know Oscar the Grouch. But we built a $1 billion registered investment advisor that had a small hedge fund. We had a very good relationship with Fidelity. We were part of the advisor referral program. I think Newberger wanted to be in that business with Fidelity.”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“Are you kidding me? In the sales area Said, okay, that's probably better suited for my skill set. So I called my old boss who had just fired me. His name is Michael Fasatelli. He built the building that we're in. He was the CEO of Vernado Realty. He went on CEO Vernado Realty Trust, I said, Michael, you got to help me get this job in sales at Goldman. And so he put a call in for me. I got interviewed. There were many interviews later. They offered me a job on March 28th. So I was out of Goldman from February 1st to March 28th. But I got rehired”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“I took a train back into the city. I started pumping quarters into state phones. And I was calling my buddies, asking for help, and finally. I reached a fellow, I was a great friend of mine, and he said, Hey, listen, there's a job offer. Opening At Goldman Sach”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source
“So now it's a Friday afternoon. I go home very rejected. I wake up on Monday, dust myself off. I have a roll of quarters because we didn't have cell phones back.”
2015-05-02 · Masters in Business · SkyBridge Anthony Scaramucci: Masters in Business (Audio) · IDENTIFIED FROM THE TRANSCRIPT · source