Latest news with #Edelman
CNBC
17 hours ago
- Business
- CNBC
Bigger bitcoin HODL: Time for 10% to 40% of portfolio in crypto, say financial advisor Ric Edelman
Four years ago, financial advisor Ric Edelman went out on a limb in saying everyone should hold cryptocurrencies. But how much? Low single-digits was his recommendation. In his "The Truth about Crypto" book in 2021, Edelman said as low as a 1% allocation was reasonable. A lot has changed. This week, Edelman said financial advisors should be recommending anywhere from 10% to 40% allocations to cryptocurrencies, and he is aware it's quite a shift in his own thinking. "Today I am saying 40%, that's astonishing," he told CNBC's Crypto World in an interview. "No one has ever said such a thing." But the "why" is the more important thing. For one, it's because of the massive change, "the evolution of crypto in the past four years," he said. Four years ago, Edelman says, we didn't know if governments would ban bitcoin, or if the technology would be obsolete, and if consumers and institutions would adopt it. "Today, all those questions have been resolved," said Edelman, who heads the Digital Assets Council of Financial Advisors. "It's radically changed and is now a mainstream asset," Edelman added. For sure, the more mainstream crypto becomes, the more it will feature across investment portfolios. Bitcoin ETFs have been taking in billions this year, among the top asset classes in ETF inflows this year, one sign of crypto's arrival on the radar of more financial advisors and long-term investors. The other big shift Edelman sees longer-term, and just as important to his view of crypto allocation, is the end of the traditional 60/40 model of long-term investing, with 60% in stocks and 40% in bonds, which Edelman says is obsolete due to increased longevity, and life expectancy in the U.S., that has risen from 47 in the 1900s to 85 today, and is projected to potentially reach as high as 100 over the next 30 years if technological advances related to medicine proceed. "If you're a financial advisor and you had a 30 year-old client who was saving for their long term future, you would tell them to put 100% of their money in stocks, because they have 50 years to go," said Edelman. "Today's 60 year-old is kind of like yesterday's 30 year-old," he added. "You need to get better returns than you can get from bonds and you need to hold equities longer than ever before," Edelman said. And as that allocation model shifts away from the classic 40% bond allocation, he said crypto needs to play a much bigger role in investing. "Bitcoin prices don't move in sync with stocks or bonds or gold or oil or commodities," Edelman said. He added that investors are starting to recognize it as a "wonderful way to improve modern portfolio theory statistics. "The crypto asset class offers the opportunity for higher returns that you're likely to get in virtually any other asset class." Edelman said. Some analysts predict bitcoin will hit $150,000-$250,000 by the end of this year and $500,000 by the end of this decade. Edelman says, "that's a conservative estimate compared to what others are saying." Crypto hacks hit a new record in the first half of the year. According to TRM Labs, bad actors raked in over $2.1 billion in at least 75 different hacks and exploits, setting a new record. Attacks on crypto infrastructure, like stealing private keys and seed phrases or compromises of front-end software, accounted for over 80 percent of the funds stolen in 2025's first half. Trump housing advisor tells CNBC about crypto mortgage plan. Bill Pulte, the director of the Federal Housing Finance Agency, joined CNBC's "Money Movers" on Friday to discuss the plan he released this week to have Fannie Mae and Freddie Mac count crypto as a federal mortgage asset. Senate targets end of September for crypto bill. Senator Tim Scott, chairman of the Senate Banking Committee, said at an event on Thursday that legislation to establish rules for U.S. crypto markets will be finished by the end of September.
USA Today
a day ago
- Sport
- USA Today
Julian Edelman, Gronk name QB they'd want if Tom Brady never existed
Imagine a world where seven-time Super Bowl champion quarterback Tom Brady didn't exist. What current NFL quarterback would be the best to captain the ship under center with Rob Gronkowski at tight end and Julian Edelman at wide receiver? Gronkowski and Edelman both chimed in on the hypothetical quarterback switch with two different answers. Most would expect the two to choose Kansas City Chiefs quarterback Patrick Mahomes, a three-time Super Bowl winner. However, Gronkowski instead went with Buffalo Bills quarterback Josh Allen, while Edelman chose Cincinnati Bengals signal-caller Joe Burrow. "Josh Allen, I love his game. It reminds me of myself at the quarterback position. That was a no-brainer for me. That was the first quarterback that popped up in my head," said Gronkowski on the Dudes on Dudes podcast. Edelman agreed that Allen would be a good choice, and he'd be happy with that option. But he ultimately decided to take things in a different direction. "I would love Josh Allen, but I would love to have Burrow," said Edelman. "I mean, you would love to have Mahomes. Our offense is a little different. There's a little more drop-back pass. I don't know, I mean, Mahomes is pretty good, too, but I think Burrow. I don't want someone running as much as Mahomes on those third downs. I want them throwing because I want those third downs." Allen is the reigning NFL MVP, and Burrow put together an MVP-caliber season last year, despite his team letting him down at every turn. Both would have thrived in an offense with the greatest tight end of all time and one of the all-time great slot receivers as go-to weapons. With that said, it's hard to envision anyone other than Brady throwing to Edelman and Gronkowski. The trio cemented a legacy together in New England that might never be topped. Follow Patriots Wire on Twitter and Facebook.
Time of India
a day ago
- Sport
- Time of India
'I'd love to have Joe Burrow': Bold QB pick shocks fans as Patrick Mahomes gets snubbed
For Edelman its not about headlines- its about the right fit to run a Patriots-style offense (Image via Getty) In a surprising twist, Patriots legends Julian Edelman and Rob Gronkowski left Patrick Mahomes off their top quarterback picks when asked who they'd want under center in New England's system. Despite Mahomes' Super Bowl rings and jaw-dropping playmaking, both opted for quarterbacks they felt better fit the franchise's identity. Their reasoning offers a glimpse into what Patriots-style football really demands. Why Edelman says Burrow fits the Patriots way Edelman made his pick clear on the Dudes on Dudes podcast: 'I'd love to have Joe Burrow.' While he praised Mahomes—'I mean, I love Mahomes'—he emphasized fit over flash. 'But our offense is a little different. There's a little more drop-back pass… I don't want someone running as much as Mahomes on those third downs. I want them throwing because I want those third downs.' Mahomes, though dominant, doesn't align with Edelman's vision of a precise, pocket-based scheme. The Chiefs QB averaged 4.6 rushes per game in 2024, converting 25 first downs via scrambles—the second-most among all quarterbacks. Edelman's pick underscores his belief in a traditional, pass-first Patriots setup rooted in timing and control. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 체지방 미친듯이 녹이는 [이것] 복부·허리 쭉쭉 빠진다! 진작할걸~ S라인 효소 더 알아보기 Undo Gronk wants Josh Allen as QB1—and It makes total sense Rob Gronkowski took a different route, choosing a QB who mirrors his own physicality: Josh Allen. 'I love him. He reminds me of myself at QB. That was a no-brainer for me. That was the first QB that popped into my head,' Gronk said. For him, Allen's rugged style was the perfect match for his vision of dominant football. In 2024, Allen led all quarterbacks with 12 rushing touchdowns and broke 42 tackles on designed runs. Gronk's comparison isn't far off—he sees Allen as a fullback with an elite arm, capable of leading an offense with sheer force. It's a pick that reflects Gronkowski's own career—explosive, unorthodox, and powerful. Also read: 'It's sad': Tyreek Hill's bold Dolphins claim stuns fans as ex-Chiefs star eyes emotional AFC clash While Mahomes remains the NFL's ultimate wildcard, Edelman and Gronk believe fit matters more than flair. Burrow's methodical control and Allen's raw power may not match Mahomes' magic, but for two Patriots greats, they're the better choices to run New England's no-nonsense offense. Game On Season 1 continues with Mirabai Chanu's inspiring story. Watch Episode 2 here.
Yahoo
3 days ago
- Business
- Yahoo
Nitrogen Founder Aaron Klein Launches Meeting OS for Advisors
You can find original article here Wealthmanagement. Subscribe to our free daily Wealthmanagement newsletter. Aaron Klein, the former CEO and co-founder of Nitrogen, has returned to the wealthtech space with the launch of Contio, an operating system for meetings. Klein raised $5.5 million to get operations off the ground via his own capital as well as investors, including Orion founder and former CEO Eric Clarke, Redtail founder Brian McLaughlin, AdvicePeriod founder and Principal Steve Lockshin, Allworth Founding Principal and Vice Chair Scott Hanson, Edelman founder Ric Edelman, former wealth management executive Barnaby Grist, Pontera CEO Yoav Zurel, Riskalyze co-founder Mike McDaniel, Former Chairman of the Board at Riskalyze Andy Swan and Capital Eleven Ventures. Contio is currently in beta and will launch fully in the fall with three verticals. In addition to financial advisors, the meeting OS will also be marketed to talent recruiters and software engineers. Edelman, Lockshin, Clarke and McLaughlin have also joined an advisory council for the meeting OS for advisors. Klein previously co-founded Nitrogen in 2011 and stepped down from his role as CEO in November 2023. Klein said the idea for Contio was born about seven years ago, when he was still running Riskalyze and spending some 70% of his time in meetings—a process he found to be quite inefficient. 'I went back and looked at my old calendars, and it added up to over 37,000 meetings over the course of 12 1/2 years,' he said. 'There just has to be a better way than your agenda being over here and your notes being over there and your documents being spread around everywhere.' Since then, we've seen the rise of AI meeting note takers, including several specifically designed for the financial advisor market. 'I just think that those products really kind of have it all wrong,' Klein said. 'They do nothing to actually improve the meeting. They just record the misery, and then they send us emails about it. To me, what's really, really meaningful is, how do you actually help people become elite meeting strategists? How do you help them get way better at running snappier meetings, smarter meetings and more action-packed meetings? Because then, the notes that come out of that are actually much more actionable and useful.' Klein said his technology goes beyond the existing tools, focusing on the preparation involved before a meeting. 'We're really starting at the end front-end of the problem, thinking about how to shape the meeting, plan the meeting, use AI to give people their game plan for the meeting,' Klein said. That preparation is a lot of work; it can take three times the amount of time you have scheduled for the meeting. 'We're building AI that's going to do 95% of that work for you, so that we can kill broken meetings entirely off your calendar,' he said. Klein has built a team of 10 people, including AI engineers and data science experts, all in Boise, Idaho. The meeting OS will snap into an advisor's calendar and work with video call platforms Zoom, Google Meet and Teams. It also works for in-person meetings. In addition to using the system externally with clients and prospects, advisory firms can also use it for internal meetings with team members. 'That's where a lot of the intelligence that can feed into those external meetings can come from,' Klein said. Contio will integrate broadly with an advisor's tech stack. It will focus initially on integrating with risk/analytics, financial planning, performance reporting and CRM systems. They've also built a secure AI architecture that doesn't ship data out to third-party AI services. 'We keep all the data for our clients in our secure cloud environment, and there's really not the risk that a lot of these other applications pose where they ship data across the wire to third party AI services on their APIs,' Klein said. Contio does leverage many of the artificial intelligence models available, such as the Llama models from Meta, the DeepSeek 1776 model, and different open-source models for specific jobs, like speech-to-text and summarization. Klein said the company hasn't yet finalized the pricing for the technology. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Calgary Herald
21-06-2025
- Business
- Calgary Herald
Opinion: How Mark Carney is offering CEOs a chance to rebuild trust with Canadians
After last month's throne speech, Bloc Québécois leader Yves-François Blanchet lamented that he feels Prime Minister Mark Carney 'sees himself culturally as the CEO of Canada.' With his background in corporate finance, it's no surprise Carney has been likened to a stereotypical finance boss. Article content But is bringing CEO-type leadership to the federal government a bad thing, particularly at such a precarious moment for our country economically? Article content Article content Article content Canada has been starved of this style of leadership. But this goes beyond a culture change in Ottawa. Carney is also opening the door for CEOs to take on critical leadership roles in the execution of his agenda. With his aggressive economic development platform and the charge to 'build, baby, build,' our prime minister has turned on the CEO bat signal. Article content Article content Not since the depths of the pandemic has business had such an extraordinary opportunity to contribute to the greater good, and for CEOs to offer leadership that offers impact well beyond their workforce. Article content However, the unfortunate reality is that Canadians don't trust their business leaders. The latest Edelman Canada Trust Barometer results, released in March, revealed that only 37 per cent of Canadians trust business leaders — 16 points lower than the average of the 28 countries the firm studies, ranking them near the bottom of that list. Article content Article content How have our business leaders run so afoul of Canadians? Rationalizing food inflation in front of a parliamentary committee doesn't help, nor does the massive gap between CEO compensation and that of the average worker. It also doesn't help that two-thirds of Canadians feel business leaders are actively trying to mislead them, according to the recent Edelman study. Article content This crisis of trust is made worse by the fact that most Canadians feel the system is failing them — that no matter how hard they work, the next generation will not be better off. Business leaders have become a lightning rod for that grievance. Article content It is in this context that CEOs are trying to make sense of the role they should play in a country that needs more from them. And they should play a role. While there have been some well-documented missteps that have led to this extraordinary level of distrust, for years the data has pointed to a growing expectation that they step up and step into the current void.
