This week Tucker Carlson interviewed Vladimir Putin in Russia. The main stream media lost their minds and called him a traitor. We are going to explain the entire controversy this week on Wolves and Finance.
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Time Codes 0:00 Intro 3:29 Attacks against Tucker Carlson 7:47 Joe Biden’s connection to Ukraine 10:48 Summary of the Interview 22:20 Summary ... https://www.youtube.com/watch?v=IdPAqbuwyGw
ZACH DE GREGORIO, CPA
www.WolvesAndFinance.com
This is a special video this week. We are going to be looking at an important moment in business history, and discuss some valuable lessons you can use in business today. So in this video, we are going to talk about the California Gold Rush.
The California Gold Rush was an important moment in history. You may have heard the term “the 49-ers” which comes from the huge amount of people who moved to California in 1849. The population of San Francisco grew from 1,000 people to 25,000 people by 1850. People moved to California from all over the world because people were finding large amounts of gold.
Some people became very rich by finding gold deposits, but what a lot of people do not realize about the gold rush is that the most successful people were the business owners providing supplies and services to the miners. The reason for this is that prices during this period skyrocketed.
When you understand business history you will see these ebbs and flows of supply and demand. These patterns in business show up again and again. It is the business person’s job to understand these fluctuations in supply and demand, and use them to provide value to society. I wanted to have this discussion to show you how useful it can be to learn about business history. History provides you context to understand the business environment today. That helps you make better business decisions.
Neither Zach De Gregorio or Wolves and Finance Inc. shall be liable for any damages related to information in this video. It is recommended you contact a CPA in your area for business advice.
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https://www.youtube.com/watch?v=Bl1_xgpJl0U
Something I do not think they prepare you for in business school is just how hard it is to work in Accounting and Finance. I have been a CPA for six years, and I have worked in business a lot longer before that. So I wanted to share from my experience what makes accounting and finance jobs so difficult.
Zach DeGregorio
For additional accounting questions, you can contact me through my website www.WolvesAndFinance.com.
Twitter: https://twitter.com/FinanceWolves
Facebook: https://www.facebook.com/wolvesandfinance
Instagram: https://www.instagram.com/wolvesandfinance
Neither Zach De Gregorio or Wolves and Finance shall be liable for any damages related to information in this video. It is recommended you contact a CPA in your area for business advice.
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https://www.youtube.com/watch?v=_FI4KRyLt7o
Zach DeGregorio, CPA
www.WolvesAndFinance.com
We are in the middle of the Coronavirus pandemic. The US has been passing massive stimulus bills to combat the slowing economy. These stimulus bills are very large. In March the US passed the CARES Act with $2.2T in stimulus. Just last week, Congress passed a new stimulus bill for $484B in stimulus, and there is discussions of another stimulus bill in the works. The United States does not have excess money coming into the budget. So whenever there are these big stimulus bills, who pays for them? What happens is the Federal Reserve prints more money, sending more US dollars into the economy to generate growth. Whenever the US prints more money, it causes concern over inflation, and concern whether these policies are destroying the value of the US dollar. I have seen a lot of videos go up on YouTube recently about this. There are a lot of people concerned about the stability of the US dollar. So I wanted to make this video about how currency markets work and why I am personally not worried about the strength of the US Dollar in our current situation. I am going to go over a lot of information really quickly. So sit back and relax and we are going to talk about the US dollar.
Neither Zach De Gregorio or Wolves and Finance shall be liable for any damages related to information in this video. It is recommended you contact a CPA in your area for business advice.
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https://www.youtube.com/watch?v=dORkxP0SyOI
ZACH DE GREGORIO, CPA
www.WolvesAndFinance.com
This video outlines the basics of Financial Derivatives. A Financial Derivative is a contract that derives its value from an underlying asset. It is important to understand, when you purchase a Financial Derivative, you are not buying the asset, you are buying a piece of paper. For instance, to participate in the oil market, you could purchase a financial derivative based on the price of oil rather than buy the actual barrels of oil. To put this in context, there are three types of financial instruments: Stocks, Bonds, and Financial Derivatives. A stock is where you actually own a piece of a company. A bond is where you actually own a piece of someone's credit worthiness. In contrast, a Financial Derivative, you own the piece of paper and not the actual asset. That does not mean it is not valuable. To understand Financial Derivatives, you need to understand the history. Financial Derivatives started with farming. Farms make an investment when they plant crops, and make a profit when they harvest crops. A lot can happen in between. One risk is that commodity prices can change. Finance people created Financial Derivatives to solve this problem. They created a legal contract that guaranteed a set price for the crops at the end of the season. This costs the farmer some money, but it is worth it to guarantee the price. Once the contract is created, that piece of paper can be traded between buyers and sellers, because anyone who holds the contract can purchase the crops. This creates a financial market. As commodity prices fluctuates, it changes the value of the contract. If commodity prices are higher than the price specified on the contract, whoever holds the contract can make an instantaneous profit at the end of the season by purchasing the crops for the contract price, and then selling the crops for a higher price on the market. Financial Derivatives receive a lot of bad press. There are often news stories of people losing money with financial derivatives. Like any financial instrument, it is possible to lose money. However, these are big markets, and financial derivatives create a lot of value for society.
Neither Zach De Gregorio or Wolves and Finance Inc. shall be liable for any damages related to information in this video. It is recommended you contact a CPA in your area for business advice.
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https://www.youtube.com/watch?v=RHX2kOQGXA0
In 2013, Oxford University released a research paper about Artificial Intelligence and automation. In this paper they stated that there is a 95% probability that all accounting jobs would be lost (and a 99% probability that all tax related accounting jobs would be lost). This research paper sent a shockwave through the accounting community, and people continue to reference their findings. We are going to take a look at what has happened since this paper was published and what this means for the future of accounting. I will also give you a different perspective and explain why Artificial Intelligence CANNOT automate accounting jobs.
Zach DeGregorio
For additional accounting questions, you can contact me through my website www.WolvesAndFinance.com.
Twitter: https://twitter.com/FinanceWolves
TikTok: https://www.tiktok.com/@wolvesandfinance
Facebook: https://www.facebook.com/wolvesandfinance
Instagram: https://www.instagram.com/wolvesandfinance
Neither Zach De Gregorio or Wolves and Finance shall be liable for any damages related to information in this video. It is recommended you contact a CPA in your area for business advice.
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https://www.youtube.com/watch?v=iEIth_HFn9I
ZACH DE GREGORIO, CPA
www.WolvesAndFinance.com
In this video, I want to talk about the most important business quality in my opinion... Consistency. This is a topic I do not feel businesses spend enough time talking about. Most businesses ask themselves, “how can I stretch my resources to make the best product possible?” That is the wrong question. It would be better to ask the question, “with my available resources, what is the most consistent product I can deliver.” If you stretch yourself all the time, it is unsustainable and you end up with quality problems. So it is helpful to focus on the idea of how to deliver a consistent product.
What do I mean by consistency? It is a very simple definition: Delivering the same product or service over and over again for decades. There is a whole industry based around manufacturing standards on how to produce something exactly the same every time. Here we get into things like ISO 9000 standards, quality management, and Six Sigma. I am not going to get into those specifics in this video, because I want to focus at a high level, on explaining how consistency makes your business money.
The reason consistency is important deals with how markets work. Markets are made up of people. When you sell your product into the market, you are asking the buyer to make a change and make your product a part of their life. They go through the struggle to change their lives because your product benefits them somehow. So if someone goes through the effort to make room in their lives for your product, they are going to expect the ability to be a repeat customer, and receive the same value proposition when they come back and buy your product a second time. What you are selling is a value proposition, that you want your customers to purchase over and over again.
Now whenever you talk about consistency, you get an opposing viewpoint from many business people who say “what about innovation? Who wants to produce the same product over and over when you can innovate?” I do not want to get into an argument between consistency and innovation because I think it is a false argument. I think you can provide a consistent value proposition while still keeping up with technology and innovating. But you have to be very careful, because your customers rely on you providing the same value proposition.
Neither Zach De Gregorio or Wolves and Finance Inc. shall be liable for any damages related to information in this video. It is recommended you contact a CPA in your area for business advice.
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https://www.youtube.com/watch?v=fBSaZ88T4hc
Zach De Gregorio, CPA
www.WolvesAndFinance.com
We are talking about Doing Work You Love. And I want to talk about this from a very practical perspective. If you watch my channel, I talk about this a lot. I talk about finding your passion and doing work you enjoy. There is a very practical reason why I talk about this so much. This is actually been studied a lot in business schools. They have found something really interesting: People are more productive doing work they love.
I learned this lesson very early on in my career. One of my first jobs was working at E! Entertainment. Working at E! was fun, exciting, and interesting, but there was a problem. I did not actually like any of the shows on E! Entertainment. I am not bashing any of their shows, but everyone has their own preferences, and those are just not the type of shows I like to watch.
There was one particular moment when my attitude towards work changed. I realized something important: The Style Network was the only channel on television that had coverage of New York Fashion Week. The Style Network did not do that much for Fashion Week, but no other channel was covering it at all. So I had an idea. What if you covered New York Fashion Week like a major sporting event including live video feeds, slow motion replays, and celebrity commentators. You could turn this little week in New York into a major media event. I decided to take a risk and voice my ideas to the executives at E! Entertainment. I wrote up a whole pitch on how they should invest in the Style Network and build this show about New York Fashion Week.
I started working on this new show, and it was a blast. We were building this channel, doing something brand new that had never been done before. It was exciting. Working on that show was one of my favorite experiences working in Hollywood. Unfortunately, when the show aired, it was a flop. The ratings were not very good. I think we were ahead of our time, and it was not what audience’s were looking for. But I learned a very valuable lesson from that experience. I went from working on shows at E! Entertainment that I did not care about, to working on a show where I was truly engaged in the process. The difference was night and day. I experienced on a practical level that you are more productive doing work you love.
I have always been so thankful that I figured this out when I was so young. This concept of “doing work you love” will help you make meaningful career choices. I know there is a lot of people out there who are unhappy at their jobs. I would encourage you to ask yourself the question "Am I excited about the product or service my company provides?" If your answer is no, go out and find a company that you can get excited about. In the US, there is around 30 Million dif
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https://www.youtube.com/watch?v=NmDvsWSCenI
This week we are continuing to talk about cash flow. Last week, I made a video about the difference between cash flow and profit. This week we are going to dive deeper into how to analyze cash flow. Just a warning, this is a more advanced accounting topic, so if you are new to accounting, just hang in there because we are covering some really important concepts.
Zach DeGregorio
For additional accounting questions, you can contact me through my website www.WolvesAndFinance.com.
Twitter: https://twitter.com/FinanceWolves
TikTok: https://www.tiktok.com/@wolvesandfinance
Facebook: https://www.facebook.com/wolvesandfinance
Instagram: https://www.instagram.com/wolvesandfinance
Neither Zach De Gregorio or Wolves and Finance shall be liable for any damages related to information in this video. It is recommended you contact a CPA in your area for business advice.
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https://www.youtube.com/watch?v=MpaXFUkGDbU
ZACH DE GREGORIO, CPA
www.WolvesAndFinance.com
This video is on Jensen's Alpha. Alpha is one of the most popular finance performance metrics. It was created by Michael Jensen in 1968 to evaluate the performance of mutual fund managers. You want as much alpha as possible. The more alpha you have, the better you are at picking stocks. Alpha equals actual return minus expected return. Alpha represents the value you create from making good financial decisions. If you were to give your money to a financial professional to invest, you would want some measure to assess their financial decisions. The alternative is to invest in a low cost index fund. But if you are paying a fee, alpha will explain whether value is being created. Looking at the variables, actual return is straightforward. The real question is how to calculate expected return. The full equation integrates the Capital Asset Pricing Model (CAPM) to calculate expected return. The CAPM looks at historical data for the benchmark market to establish the expected return. The benefit of alpha can be seen by an example that compares performance versus the market. You can beat the market and still have negative alpha if you don't achieve a return that compensates you for the risk you are holding. A negative alpha means you are destroying value. Alpha does have some issues, because it is not an objective metric. You are judging your performance based off your own assumptions. What happens on a practical level, is you use alpha along with many other financial metrics to judge your overall performance.
Neither Zach De Gregorio or Wolves and Finance Inc. shall be liable for any damages related to information in this video. It is recommended you contact a CPA in your area for business advice.
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https://www.youtube.com/watch?v=YaecZ-BcHbg