All Else Equal: Making Better Decisions

Risk is an inherent part of all business decisions and understanding ways this risk can be reduced is essential to succeeding in today’s business environment. In this episode of All Else Equal: Making Better Decisions, hosts and finance professors Jonathan Berk and Jules van Binsbergen explain how to assess risk and discuss smart ways of diversifying it away. But sometimes diversification comes at a cost to productivity and the hosts present this as the fundamental tradeoff of corporate finance.Submit your questions to the show here: https://bit.ly/AllElseEqualFind All Else Equal on the web: https://www.gsb.stanford.edu/business-podcasts/all-else-equal-making-better-decisionsAll Else Equal: Making Better Decisions Podcast is a production of Stanford Graduate School of Business and is produced by University FM.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Cryptocurrency is increasing in popularity but still confusing to many consumers and finance professionals alike. On this episode of All Else Equal, finance professors Jules van Binsbergen and Jonathan Berk admit they don’t understand why some central banks are introducing digital currencies and why there would be need in our economic system.To help answer these questions they speak with Kevin Warsh, a former governor for the Federal Reserve and current Visiting Fellow at the Hoover Institute at the Stanford School of Business. Kevin makes the case for regulating crypto currencies and what that would look like, and says the recent collapse of FTX, the world’s largest crypto currency exchanges, is not an indicator of this being a failing currency. Submit your questions to the show here: https://bit.ly/AllElseEqualFind All Else Equal on the web: https://www.gsb.stanford.edu/business-podcasts/all-else-equal-making-better-decisionsAll Else Equal: Making Better Decisions Podcast is a production of Stanford Graduate School of Business and is produced by University FM.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

John Ioannidis, researcher and expert in scientific theory evaluation, joins Jules and Jonathan to discuss the value of investigating implausible theories and the principle of Occam's Razor. They explore the challenges of navigating science in the age of misinterpretation and the need for humility, rigorous research, and transparency in scientific investigation.

There’s a negative connotation associated with short selling – the act of betting against a stock to perform well. But is this trading practice truly a bad thing? In this episode of All Else Equal: Making Better Decisions, hosts and finance professors Jonathan Berk and Jules van Binsbergen build the case for short selling as a dynamic regulating force in the free market. And an incentive for individuals to investigate and expose fraud.Later in the episode, Jonathan and Jules speak with Marc Cohodes, whose notable short-selling decisions have landed him in hot water with powerful figures all over the world. Cohodes has exposed a series of fraudulent practices – from mortgage lender Novastar to digital finance giant Wirecard, and most recently the cryptocurrency exchange FDX – and shares his view on the role of short sellers to step in where government regulation fails.Submit your questions to the show here: https://bit.ly/AllElseEqualFind All Else Equal on the web: https://www.gsb.stanford.edu/business-podcasts/all-else-equal-making-better-decisionsAll Else Equal: Making Better Decisions Podcast is a production of Stanford Graduate School of Business and is produced by University FM.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Freedom of expression is a constitutional right, but it’s also a valuable business strategy. In this episode of All Else Equal: Making Better Decisions, hosts and finance professors Jonathan Berk and Jules van Binsbergen build the case that without freedom of expression within an organization, the competitiveness of the organization will suffer and ultimately be much worse off without a culture that allows for dissenting opinions.Later in the episode, Jonathan and Jules speak with John Paulson – whose outside-the-box thinking allowed him to predict the 2008 mortgage crisis before almost anyone else, and to position himself and his clients to gain financially. Paulson’s decision to short mortgage bonds was the subject of Michael Lewis’ book “The Big Short” and a blockbuster film of the same name.Submit your questions to the show here: https://bit.ly/AllElseEqualFind All Else Equal on the web: https://www.gsb.stanford.edu/business-podcasts/all-else-equal-making-better-decisionsAll Else Equal: Making Better Decisions Podcast is a production of Stanford Graduate School of Business and is produced by University FM.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Businesses often prioritize shareholder interests to make profit. But this can lead to short-sighted decisions that fail to benefit other stakeholders… right? In this episode of All Else Equal: Making Better Decisions, hosts and finance professors Jonathan Berk and Jules van Binsbergen – and guest Alex Edmans – ask that very question and provide some surprising answers. Whose interests are better aligned with the long-term health of a business: external stakeholders or internal shareholders?Alex Edmans is a finance professor at the London Business School. He has written a book on the topic of shareholder versus stakeholder capitalism called “Grow The Pie: How Great Companies Deliver Both Purpose and Profit.”Submit your questions to the show here: https://bit.ly/AllElseEqualFind All Else Equal on the web: https://www.gsb.stanford.edu/business-podcasts/all-else-equal-making-better-decisionsAll Else Equal: Making Better Decisions Podcast is a production of Stanford Graduate School of Business and is produced by University FM.More About the Guest:The End of ESGSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Biden has promised sweeping debt relief to millions of student loan borrowers. In this episode of All Else Equal: Making Better Decisions, hosts and finance professors Jonathan Berk and Jules van Binsbergen discuss the implications of this policy decision and the ways it could influence behavior for both students and educational institutions.Later in the episode, Jonathan and Jules call in an expert: Sheila Bair, former Assistant Secretary of the Treasury and Chair of the Federal Deposit Insurance Corporation (FDIC). Sheila shares her work as a Senior Fellow at the Peter G. Peterson Foundation, where she currently focuses on financial issues confronting young people.Submit your questions to the show here: https://bit.ly/AllElseEqualFind All Else Equal on the web: https://www.gsb.stanford.edu/business-podcasts/all-else-equal-making-better-decisionsAll Else Equal: Making Better Decisions Podcast is a production of Stanford Graduate School of Business and is produced by University FM.Resources:Student Debt SmarterLoan Affordability CalculatorSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Conventional wisdom tells us that we need regulators to ensure quality work in certain professions. But do consumers really benefit as much as they think from government regulation?In this episode of All Else Equal: Making Better Decisions, hosts and finance professors Jonathan Berk and Jules van Binsbergen investigate the question: Who does regulation help more, consumers or producers?Later in the episode, Jonathan and Jules call in an expert: Maureen Ohlhausen, who chairs the Global Antitrust and Competition Law practice at Baker Botts.Submit your questions to the show here: https://bit.ly/AllElseEqualFind All Else Equal on the web: https://www.gsb.stanford.edu/business-podcasts/all-else-equal-making-better-decisionsAll Else Equal: Making Better Decisions Podcast is a production of Stanford Graduate School of Business and is produced by University FM.Show Links:Regulation of Charlatans in High-Skill ProfessionsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Corporations are often characterized as evil entities that exploit workers. But in fact they enable firms to provide job security and thus serve the important role of minimizing risk for individual employees.In this episode of All Else Equal: Making Better Decisions, hosts and finance professors Jonathan Berk and Jules van Binsbergen explore how corporations set employees’ wages based on their job performance while still providing job security by comparing it to an insurance contract. “I think, in fact, you could think of corporations as entities that insure workers,” says Jonathan Berk.Also in this episode, Jonathan and Jules talk about bankruptcy, house fires, and why your supervisor hasn’t fired that one annoying coworker who doesn’t do anything.Submit your questions to the show here: https://bit.ly/AllElseEqualFind All Else Equal on the web: https://www.gsb.stanford.edu/business-podcasts/all-else-equal-making-better-decisionsAll Else Equal: Making Better Decisions Podcast is a production of Stanford Graduate School of Business and is produced by University FM.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Does filing for bankruptcy spell the end for a company? Or is there another way to look at corporate financial distress?In this episode of All Else Equal: Making better decisions, hosts and finance professors Jonathan Berk and Jules van Binsbergen debunk some myths about Chapter 11 of the United States Bankruptcy Code – and compare the benefits of financing your company with equity or debt. Later, bankruptcy expert Jim Millstein joins the show to talk about corporate restructuring proceedings and the government bailout of General Motors.Jim Millstein is the Co-Chairman of Guggenheim Securities, the investment banking and capital markets business of Guggenheim Partners, a global investment and advisory firm. Prior to joining Guggenheim in 2018, Mr. Millstein was the Founder and Chief Executive Officer at Millstein & Co. His representative engagements include providing advice to the Commonwealth of Puerto Rico in connection with the management of its $75 billion of institutional indebtedness; to US Airways in connection with its acquisition of American Airlines out of Chapter 11; and Caesars in its Chapter 11 proceedings.Submit your questions to the show here: https://bit.ly/AllElseEqualFind All Else Equal on the web: https://www.gsb.stanford.edu/business-podcasts/all-else-equal-making-better-decisionsAll Else Equal: Making Better Decisions Podcast is a production of Stanford Graduate School of Business and is produced by University FM.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.