Thursday, November 28, 2013

Boxing with Charlie Gasparino at the Financial Follies

By Zach Kouwe

This was my 7th or 8th Financial Follies, a gala event that brings together PR people and financial reporters. As always, it was a good time. One of the highlights for me has always been catching up with reporters and others I've known for over a decade in the financial media world.

One of my favorite is Fox Business correspondent Charlie Gasparino. The former boxer and all around tough guy indulged me for a little boxing photo, taken by my pal Peter Lauria, editor of BuzzFeed's business section.

Wednesday, November 13, 2013

Never thought a government shutdown would impact my wedding....

By Zach Kouwe

Of all the things that could go wrong during or leading up to a wedding I never anticipated having to deal with a government shutdown. I guess that's something you need to take into account these days when planning a wedding in Yosemite National Park, or any national  Once it looked like the park was going to be closed, we marshaled the forces of public relations....(BuzzFeedtrade publication and the BBC.) 

But as the wedding date approached, it was clear the Congress wan't going to get its act together in time. Well, in the end it actually ended up working out in our favor. We had the ceremony in the park anyway - the park Rangers didn't seem to care - and nobody was in the park. That made for some amazing pictures and a cool story. I can't wait to tell my kids mom and dad snuck into Yosemite to get married! 

Saturday, November 9, 2013

Ray Dalio on YouTube – A Great PR Move

By Zach Kouwe

Ray Dalio, founder of the largest hedge fund in the world, the $150 billion Bridgewater Associates, has decided it’s time to really come out of the shadows and begin sharing his pearls of economic wisdom. Mr. Dalio, who has been called a “hedge fund cult leader” and “the world’s richest and strangest hedge fund,” has slowly been engaging with the media over the last few years, most likely to combat and explain his unusual management style.  But he never looked that comfortable providing a 30-second answer to a TV reporter’s questions about his outlook for the markets.
Now, instead of dealing directly with the media to demystify his theories on the economy, he’s taken his message directly to the people through YouTube. (As of this writing his video already had over 350,000 views.)
Mr. Dalio explained his move to YouTube to the New York Times:
“While I kept it confidential until recently, I now want to share it because I believe that it could be very helpful in reducing big economic blunders, if it was more broadly understood,” he wrote in an e-mail. He explained that, “I believe that most influential decision makers and most people cause a lot of needless economic suffering because they are missing the fundamentals.”
There’s no doubt Mr. Dalio wants to influence policymakers, regulators and academics. But another benefit of sharing his message on YouTube is that it humanizes him a bit and shows the world he’s a serious and transparent thinker – not just the billionaire leader of some hedge fund cult.
This is great PR for Bridgewater – it will help the firm recruit the best and the brightest thinkers from around the world and will likely attract investors as people from Asia to Africa learn about Mr. Dalio’s successful strategies and theories on the economy. (We wouldn’t be surprised if Bridgewater decides to open its strategies to retail investors at some point.)
Just a few years ago, you would never think one of the world’s best hedge fund managers would be appearing on YouTube. Most managers over 50 think YouTube is a service for funny videos or music. They’ve never thought about it as a way to actually reach the public, express their views and build their brands. But reaching out directly to the public and bypassing the media filter, even if the media does pick up on it later, is sometimes the most effective way to get your message out. Big and small asset managers should pay attention.