Becker Private Equity & Business Podcast Summary
Episode: Eight Stories We Are Following Today
Host: Scott Becker
Release Date: July 16, 2025

In this episode of the Becker Private Equity & Business Podcast, host Scott Becker delves into eight pivotal stories shaping the private equity and business landscape as of mid-2025. Joined by the insightful producer Grace Lynn Keller, Scott provides an engaging analysis enriched with key insights, notable quotes, and comprehensive discussions. Below is a detailed summary of each story covered in the episode.

1. Market Overview and Economic Indicators

Timestamp: [00:00 - 02:30]

Scott begins by setting the stage with a snapshot of the current market conditions. He highlights that the markets remain relatively flat early in the day, citing the recent Consumer Price Index (CPI) and Producer Price Index (PPI) reports as positive indicators.

“The Producer Price Index came in June, really flat which was a really positive indication for the market. After CPI for June, the Consumer Price Index was elevated. So both those things are good news and leave us with a little more comfort that the Fed still can reduce rates sometime this year.” ([00:45])

Scott emphasizes that while the CPI remains elevated, the softening PPI provides a window of opportunity for the Federal Reserve to consider rate reductions within the year.

2. Big Banks and Trading Firms Report Robust Earnings

Timestamp: [02:31 - 04:15]

Scott moves on to discuss the strong quarterly earnings reports from leading financial institutions such as Goldman Sachs, Morgan Stanley, and Bank of America. These positive earnings reflect resilience in the banking sector despite broader market uncertainties.

“Goldman Sachs, Morgan Stanley, Bank of America all reported really good earnings for the quarter.” ([03:10])

The solid performance of these banks underscores their pivotal role in stabilizing the market and suggests continued investor confidence in the financial sector.

3. Stock Performance: Five Companies Take a Hit

Timestamp: [04:16 - 07:00]

Scott reviews the decline in stock prices of five well-known companies, attributing these drops to various market pressures and internal challenges.

• Encompass Health: Dropped 10.3%
• RH (formerly Restoration Hardware): Dropped 7.57%
• BlackRock: Dropped 6%
• Whirlpool: Dropped 5%
• Albertsons: Dropped 5%

Highlighting BlackRock, he notes:

“BlackRock, the world's largest money manager now has over $12 trillion in assets under management. It released earnings and found that even though its assets are growing, its expenses grew more than expected.” ([05:20])

The declines suggest market skepticism regarding the sustainability of these companies' growth and profitability.

4. Stocks Generating FOMO: High-Performing Assets

Timestamp: [07:01 - 09:30]

Contrasting the previous segment, Scott identifies three stocks that are generating Fear Of Missing Out (FOMO) among investors due to their exceptional year-to-date performances:

• Palantir: Up 98%
• HIMS and HERS: Up 108%
• Bitcoin: Surpassing $120,000

“Palantir up 98% year to date, HIMS and HERS up 108% year to date and Bitcoin again just knocking out of the park past 120,000 this week.” ([08:15])

These assets are attracting significant investor interest, potentially driving further investment and market activity in these sectors.

5. The Value of Regular Employment vs. Entrepreneurship

Timestamp: [09:31 - 13:00]

Scott shares personal reflections on the societal emphasis on entrepreneurship, critiquing the notion that one must be an entrepreneur to succeed. He argues for the value and stability that regular employment offers:

“You would think if you're not the perfect physical specimen, if you're not the perfect entrepreneur, there's something wrong with you. What I have found is that the reality is that most of us benefit from a regular job and it's not entrepreneurship or bust.” ([11:00])

Scott emphasizes the mental and emotional stability that comes with a structured job, countering the often glamorized view of entrepreneurship.

6. Stellantis Jeep: Strategic Shifts Amidst Struggles

Timestamp: [13:01 - 15:45]

Turning to the automotive sector, Scott discusses Stellantis' recent strategic decisions. The company is discontinuing its hydrogen fuel cell program while simultaneously reviving the Jeep Cherokee.

“Stellantis Jeep, they are dropping their hydrogen fuel cell program but bringing back the Jeep Cherokee. This is a company that's been sort of in the woods for months, really in trouble. The stock is down 27% year to date, but we certainly applaud both of these moves.” ([14:30])

These moves indicate Stellantis' pivot towards more reliable and popular models to regain market footing amidst significant stock decline.

7. Carvana’s Remarkable Turnaround

Timestamp: [15:46 - 17:30]

In contrast to Stellantis, Scott highlights Carvana's impressive recovery, noting a 70% rise in its stock year-to-date.

“Carvana, which used to be thought of as a smoke and mirrors company, is now up 70% year to date. It continues to move in the right direction.” ([16:15])

This turnaround showcases Carvana's successful strategies in overcoming past challenges and regaining investor trust.

8. Private Equity Insights: Blackstone and Fund Performance

Timestamp: [17:31 - 20:00]

Scott examines the performance of major private equity firms, focusing on Blackstone's year-to-date drop of 7.3%. He contrasts this with the generally strong performance of larger PE funds, which often hover between 20-30% gains year-to-date.

“The biggest bold bracket PE funds seem to be doing better and better. The mid-sized fund seems to be a little slower though. One of the ones I work with seems to be constantly raising funds so hopefully they're doing okay.” ([19:00])

Scott suggests that while mega funds like Blackstone face some setbacks, the overall private equity landscape remains robust, particularly among larger funds.

9. Mental and Physical Health: Balancing Busyness and Purpose

Timestamp: [20:01 - 23:30]

Delving into personal development, Scott shares his perspective on the stages of existence related to busyness and mental health. He outlines three stages:

1. Not Busy: Leads to depression due to lack of engagement.
2. Busy but Unintentional: Better than not being busy but lacks purpose.
3. Busy with Purpose: Aligns with self-actualization, providing fulfillment.

“This concept that somehow or another it's entrepreneur or bust is just wrong. And I think that for so much of our world we, we really thrive [with] a good job, a regular paycheck, a regular income and the structure and routine that comes with it.” ([21:45])

Scott advocates for finding a balance between being busy and maintaining intentionality, emphasizing its importance for mental well-being.

10. Private Equity in Health Care: The Good, the Bad, and the Ugly

Timestamp: [23:31 - 28:00]

Concluding the episode, Scott explores the role of private equity in the healthcare sector, categorizing the impacts into three segments:

1. The Good:

   • Investing in high-margin growth businesses.
   • Avoiding excessive income extraction.
   • Maintaining prudent leverage on acquisitions.

   “Investing in high margin growth businesses, not doing too big an income scrape and also not over leveraging the heck out of whatever platform or business that you're buying.” ([24:30])

2. The Bad:

   • Investing in lower-margin specialties.
   • Adding significant debt, leading to financial strain.

   “Investing in lower margin specialties, adding debt on it and finding yourself really squeezed.” ([25:45])

3. The Ugly:

   • Excessive debt leading to the collapse of companies, exemplified by Steward Health Care.

   “Killing the company with too much debt. Again, we saw this with Steward Health Care, the hospital chain, 30, 34 hospitals, they essentially went broke.” ([27:15])

Scott emphasizes the critical need for responsible investment practices in healthcare to prevent detrimental outcomes.

Conclusion

Throughout the episode, Scott Becker provides a comprehensive analysis of current events impacting private equity and the broader business environment. His discussions range from market indicators and stock performances to personal insights on employment and mental health. By incorporating notable quotes and specific timestamps, the episode offers valuable takeaways for listeners seeking in-depth understanding without needing to attend the full podcast.

Thank you for tuning into the Becker Private Equity & Business Podcast. Special thanks to producer Grace Lynn Keller for her contributions to today’s insightful discussion.