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Tick off a loss for the modern monetary theorists amid rising inflation, says InfraCap Founder and CEO Jay Hatfield.

Modern Monetary Theory (MMT) is a macroeconomic lens which prescribes that monetarily sovereign countries like the U.S. are unaffected by financial constraints as long as they control their currencies. With roots dating back to the early 20th century, MMT was first popularized in its modern form by Warren Mosler, an American investment fund manager.

Under MMT, the risk of inflation is considered minimal as governments that fully control their fiat currencies are believed to be able to control price levels, provided they can meet consumer demand.

The past few months have seen inflation skyrocket to 40-year highs, with the latest consumer price index report showing an annual price increase of almost 8%.

WASHINGTON DC, USA - MARCH 21: Jerome Powell, Chairman of the U.S. Federal Reserve, speaks during the National Association of Business Economics (NABE) economic policy conference in Washington, D.C, United States on March 21, 2022. (Photo by Yasin Ozturk/Anadolu Agency via Getty Images)

The Fed policy has been extraordinarily erratic, really dating back to when Powell took over and almost created a recession in 2018, John Kicklighter, chief strategist at DailyFX, told Yahoo Finance Live. But the 82% increase in the monetary base was an experiment to see if we could get away with, effectively, modern monetary theory. And now the verdict is in. You can't.

The money supply has risen consistently since the dawn of the 21st century, but growth was accelerated amid the $2.3 trillion and $1.9 trillion stimulus bills passed by President Trump and President Biden, respectively. The Fed increased the M2 monetary base from just over $9 trillion in April of 2011, to over $15 trillion in February 2020, to over $21.8 trillion in February 2022, two years after the start of the coronavirus pandemic. The M2 base consists of money in circulation as well as short-term time deposits.

[Increasing the monetary base has created] almost double digit inflation, if you marked rents to market or housing to market, Hatfield added. And so they clearly have a problem. The only issue is how much patience [the Fed will] have. We're optimistic that they'll have that patience.

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Hatfield is part of a camp of economists and economic strategists that view the countrys ongoing struggles as partially caused by MMTs creep into mainstream Federal Reserve policy over the past couple of years. The backlash to the economic theory has long identified high inflation and burgeoning deficits as weights on economic well-being.

SAN FRANCISCO, CALIFORNIA - MARCH 31: Shoppers carry shopping while walking through the Union Square shopping district on March 31, 2022 in San Francisco, California. According to a report by the Commerce Department, inflation is taking its toll on the economy with consumer spending inching up a weak 0.2 percent in February compared with a 2.7 percent jump in January. (Photo by Justin Sullivan/Getty Images)

Even so, a growing number of economists support MMT and view the recent historical record as proof of its success.

In answering the question has MMT failed?, The answer is an unequivocal no, according to Stephanie Kelton, professor of economics and public policy at Stony Brook University and one of the leading experts on modern monetary theory.

MMT offers a descriptive frameworka lensthrough which to evaluate fiscal and monetary policy, she wrote on her website back in January. The specific policies taken by certain administrations were made under a framework which does not regard deficits with the same importance as was commonplace even a few years ago.

The point is, you cant blame MMT for stoking inflation any more than you can blame an optometrist if her patient runs off the road while driving without wearing their prescription lenses, she wrote. MMT doesnt tell us that the world is an open road, free of hazards or the need for caution. It doesnt reject fiscal responsibility, it redefines it so that our eyes stay focused on the real limits on spending.

Ihsaan Fanusie is a writer at Yahoo Finance. Follow him on Twitter @IFanusie.

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'Verdict is in' on modern monetary theory, strategist says - Yahoo Finance

These are not your normal power rankings. Having a good baseball team is one thing. What might be more distinctive in MLB in 2022 is having a franchise geared toward maximizing the present season. Its the mindset that took the Braves out of an injury-instigated malaise and made them champions last year.

Spending more doesnt always mean winning more, as the numbers show. And making exciting moves doesnt guarantee exciting results. Still, the proclivity to improve the team subjective as it may be sets the tone for the summer ahead.

So this is a ranking of the 30 teams by demonstrated want-to, by how much they are Going For It.

1. Los Angeles Dodgers

The Dodgers will win the World Series if

That was the prompt for manager Dave Roberts on a radio show last month. And his initial response was gloriously light on conditions. We play a full season and there is a postseason.

The rest of this ranking doesnt reflect how good teams should be, but merely their level of demonstrated will to win this year. The No. 1 slot reflects, well, both. If you dont think the Dodgers are the World Series favorites, youre lying to yourself. And theyll probably prove it again at the trade deadline.

2. Toronto Blue Jays

They lost a Cy Young winner and an MVP candidate and got better. Adding Matt Chapman took their infield to a new level, and Kevin Gausman is perhaps a steadier hand than Robbie Ray would have been if he had returned. Of all the AL East teams, they have their eyes most clearly on the prize.

3. New York Mets

4. Atlanta Braves

The Mets are doing every talk radio callers most basic description of trying SIGN MAX SCHERZER and it might work! Spending money is the fastest way to get players who are definitely good, and Steve Cohen is doing that. It might still go wrong, because shoulders that throw 101 mph are under a lot of strain, but the effort is there.

Meanwhile, in Atlanta, the defending champs surprised just about everyone by snagging Matt Olson instead of re-signing Freddie Freeman. The end result is a team with a new face and the same goal.

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5. Chicago White Sox

The White Sox need health more than anything else, but the cupboard is full, expensive and ready to win. The most glaring hole in their lineup was patched when they traded Craig Kimbrel to the Dodgers for A.J. Pollock.

6. San Diego Padres

Licking wounds from a 2021 season that was supposed to be Their Time, the Padres may belong in the top category, but its a little hard to tell. They chose to add backup for the roster that faltered in the second half last year trading for Sean Manaea and Luke Voit. That may well be enough to get them back to playoff prominence, but it doesnt compare to their previous flexing.

7. Seattle Mariners

I dont think anyone is confusing Robbie Ray with Max Scherzer despite the shiny new Cy Young, but Seattle still signed the Cy Young winner! The Mariners also dealt for two legitimate power threats in Jesse Winker and Eugenio Suarez and will start top prospect Julio Rodriguez in center field on opening day. Breaking the longest postseason drought in American professional sports is the motivating goal.

8. Minnesota Twins

Will the Twins be better than the New York Yankees? No, almost certainly not. But they took a miserable 2021 and quickly flipped it into excitement with a flurry of moves that allowed them to secure Carlos Correa and morph into wild-card contenders. Thats what trying looks like.

9. New York Yankees

Theyre still likely to win 90 games and make the playoffs. But for an organization that so consistently professes disappointment over any season that doesnt end in a World Series, the front office seems far more interested in litigating past failures than ensuring 2022 doesnt turn out the same. The Carlos Correa contract was tailored to suit their needs it's just that they didn't devise it.

10. Philadelphia Phillies

11. Los Angeles Angels

Trying very hard in very weird ways. The Phillies and Angels have some of the sports most recognizable stars and also the most questionable defense and pitching, respectively, of any supposed contenders.

12. Boston Red Sox

Armed with the glow of recent success and a daunting division, Red Sox executive Chaim Bloom seems to be emulating his former employer, the Rays, in making sure fans wouldnt be too surprised if the team missed the playoffs.

13. Houston Astros

14. Milwaukee Brewers

Two sides of the same coin, the Astros rested on the laurels of their behemoth lineup and the Brewers did the same on the strength of their starting rotation. Both should hold their divisions at arms length, but they would rank higher here if they had made a point of turning question marks into exclamation points. That meant shortstop for the Astros, where Carlos Correa dangled all winter. And for the Brewers, it meant adding more than aging Andrew McCutchen to a weak offense.

15. San Francisco Giants

16. Tampa Bay Rays

The most significant addition to the Giants tasked with following up a 107-win masterpiece of shock and awe is Carlos Rodon. He could be great if he can stay healthy, but that wont fully lift the on-paper expectations of this group to Dodgers level. Its possible L.A. lieutenant turned Bay Area commander Farhan Zaidi just has this figured out and the Giants are sustainably awesome now. Well need more proof before buying it, though.

Meanwhile, we sort of have to buy the Rays model. They trade guys you think are good for a cornucopia of guys you may or may not have heard of, then the new guys become better than the original guy. They did some of that, and signed a big extension for all-world youngster Wander Franco. They build a baseball team as if they are practicing judo.

17. St. Louis Cardinals

The best pitcher on their opening day roster will be a 40-year-old who pitched a lot of meaningful innings in 2006. Hes 5 years older than their new manager, who replaced Mike Shildt for reasons. Albert Pujols is here again. There will be curtain calls. History says that will somehow add up to a playoff spot.

Bobby Witt Jr. is considered the top prospect in baseball by many scouts. He's heading north with the Royals as the starting third baseman. (Photo by Chris Bernacchi/Diamond Images via Getty Images)

18. Texas Rangers

Remember when the lowly pre-Bryce Harper Nationals signed Jayson Werth to indicate they were serious about getting good soon? The Rangers have taken that tactic and turned it Texas-sized. They now have Corey Seager and Marcus Semien in the middle infield for a cool $500 million. Does it make this team a contender? Absolutely not. But the future ambition is obvious.

19. Detroit Tigers

20. Kansas City Royals

The AL Centrals rebuilding duo are both on the upswing now. And both have extremely exciting top prospects on the opening day roster Bobby Witt Jr. for Kansas City, Spencer Torkelson for Detroit. The Tigers even added Javier Baez and Eduardo Rodriguez over the winter as the idea of winning comes into focus.

21. Miami Marlins

Pitching? Check! Hitting? Check back later.

22. Cleveland Guardians

It is feasible that this team could make the playoffs despite a sub-$50 million payroll and an outfield full of dudes youve never heard of. They would have been even lower on this list had they not finally ponied up to keep Jose Ramirez.

23. Colorado Rockies

The franchise that keeps driving away stars via pure frustration did go out and sign a new one to accentuate a team going absolutely nowhere. Still, we must acknowledge that they think they are trying, even if no one on the outside can decipher how its supposed to work.

Respected slugger Nelson Cruz still seeking a World Series ring is a Washington National ... for now. (Photo by Jonathan Newton/The Washington Post via Getty Images)

24. Washington Nationals

25. Chicago Cubs

These two teams began rebuilds at the trade deadline and are working to make the down periods go quickly. Each made reasonable moves designed to hurry along the process with the Nationals bringing in trade bait in Nelson Cruz and the Cubs adding intriguing slugger Seiya Suzuki.

26. Arizona Diamondbacks

After a horrendous 2021, expect Arizona to be better purely on the merits of better luck. They are not tanking, and indeed signed star Ketel Marte to an extension to prove as much.

27. Cincinnati Reds

A few years of bigger-than-usual budgets didnt go as planned, so the Reds are rapidly spinning off parts. Theres still enough here to envision a valiant spoiler or .500ish team. For now.

28. Pittsburgh Pirates

29. Baltimore Orioles

Amid a wave of top prospects making opening day rosters, the Pirates promptly sent their jaw-dropping talent the 6-foot-7 shortstop Oneil Cruz to Triple-A. Whats worse? He already played in the majors and more than held his own at the end of 2021. The Orioles escaped scrutiny because their top talent, catcher Adley Rutschman, was injured in spring.

If you combined these two teams projected 2022 payrolls into one, it would still rank in the leagues bottom five.

30. Oakland As

Then theres Oakland. This franchise, fresh off a run of contention, decided to campaign for a new stadium by trading away everything that wasnt tied down. That included Matt Chapman and Matt Olson two cornerstone corner infielders who were projected to make a grand total of $21.5 million this season before they were jettisoned. That was apparently too much.

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The Going For It rankings: Which MLB teams want to win most in 2022? - Yahoo Sports

The Golden State Warriors forward spoke with Yahoo Sports senior NBA writer Vincent Goodwill on the team's focus heading into the upcoming playoffs - despite a recent run of injuries.

Draymond joined Yahoo Sports on behalf of Amazon, to promote its new Amazon Glow -- a new device for parents regularly on the road and looking for a way to make meaningful connections with their little ones.

[MUSIC PLAYING]

VINCENT GOODWILL: Vince Goodwill for Yahoo Sports here with three-time NBA champion, Defensive Player of the Year perennial candidate Draymond Green of the Golden State Warriors. Draymond, you're joining us here as part of a promotion for Amazon Glow for Parents. Going to get to that in a second.

But first, there's this term called respectful fear, where you're supposed to fear your opponent regardless of the situation. If you guys are whole and healthy, is there anybody that you fear? Do you have a respectful fear of Memphis? Do you have a respectful fear of Phoenix? Or is it just a blissful thing because you guys have won championships, and you have to sweat equity?

DRAYMOND GREEN: No, you definitely have to have respectful fear in our organization. Steve Kerr, Coach Kerr called it appropriate fear. And I think you have to have appropriate fear. I don't care who you're playing against. If you don't have the appropriate fear, you're going to lose the game.

This is the NBA. Everybody has NBA talent. Everyone has NBA coaches. Everyone has NBA schemes. And anyone can be beat. And so I think you have to have the appropriate fear for everyone.

Now, in saying that, we don't fear anyone. Regardless of who we match up with, whether that's Memphis, whether that's somewhere down the line, whether that's Phoenix somewhere down the line, whoever we match up with, we don't fear anyone. But if you don't have the appropriate fear, you can forget about it. You will get humbled if you don't have the appropriate fear.

VINCENT GOODWILL: For years, you guys were the team everybody feared at the top, where teams would basically be psyched out of playing you before they even stepped on the floor. And you could probably kind of sense that. Do you feel like that fear of Golden State is gone just because you guys haven't had the continuity on the floor, you're a couple of years removed from a championship? Do you feel that fear is still there, or do you feel like you kind of have to reestablish that?

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DRAYMOND GREEN: No, I definitely don't think it's gone, because I played the first 33, 34 games of the year. Maybe I missed a couple here and there. But for the most part, I played them. And I saw that fear.

I saw it come right back when everybody was like, oh, they're good again. Oh, we got to deal with these guys again. I saw that fear. So I don't necessarily think it's gone. I think teams are able to get by that when you're not healthy.

Klay was coming back into the lineup. I left the lineup. I came back into the lineup. Steph left the lineup.

And so if you keep running up against a team that don't have all their guys, of course you don't have to fear anything. But when we were rolling at the beginning of the season and on top of Klay coming back, then everyone's terrified. I don't doubt, we step on the court whole in the playoffs, guys are going to be terrified. I don't doubt that one bit.

VINCENT GOODWILL: Draymond, you're here as part of a promotion for Amazon Glow. It's very, very helpful for parents. Explain that to us.

DRAYMOND GREEN: As you see the device right here, it is extremely helpful for parents, especially those that travel. In my case, we play 82 games a year. 41 of those games are on the road. It's a seven-month season. You're on the road for 3 and 1/2 months. I mean, you can imagine the changes that happens in a kid's life over 3 and 1/2 months.

With the device Amazon Glow, it helps bridge that gap. It helps lessen those miles in between. You're talking having the opportunity to be face-to-face with your family but interactive. We've seen several situations where you can do that, but you're not interacting. You're not helping your kids learn. You're not participating in these games with your kid and being hands-on.

And I think my appreciation and my want to partner with Amazon on the Amazon Glow product was simply, it's something that brings me closer to my kids. It's something that makes that time away from my children less stressful.

And most importantly, it's a way for me to continue to interact and do those same things that I'm able to do when I'm home when I'm away. And I think that's a beautiful thing.

VINCENT GOODWILL: Hey, like you said, you're away from your kids a lot. And you don't want to put that stress on one parent. So you know firsthand what the Amazon Glow product can do, man. Thanks so much for joining us this afternoon at Yahoo Sports, man. We appreciate it. Good luck in the playoffs, man.

DRAYMOND GREEN: Thanks, Vince, I appreciate it.

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Good Word with Goodwill - Draymond Green on why the Warriors should still be feared - Yahoo Sports

(Bloomberg) -- Whatever hardships are afflicting global stock investors, its worse in other markets, and that alone may be enough to keep the equity rebound going for now.

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Stocks recovered in record time from the initial shock of the war in Ukraine and the havoc its wreaked on global commodity supplies. That followed their resistance to successive waves of the coronavirus pandemic since 2020. Now, theyre refusing to be undone by ominous portents in bond markets that a global recession is on the horizon.

Part of the latest resilience is down to a hard-to-shake buy the dip pattern in trading. But the wall of worry that stocks have to climb right now is getting higher and higher as rampant inflation squeezes demand, economic growth slows and central banks look to finally end the era of excessively loose monetary policy.

While all that means corporate profits are poised to take a hit, stocks may still have a case, not least because the alternative options are scarce.

With cash and bonds offering negative real yields, investors are still inclined to buy the dips in global equities, despite deteriorating fundamentals, Citigroup Inc. strategists led by Robert Buckland wrote in a note on Friday.

The rebound in March backs up that view. While the first quarter was the worst for global stocks since the outbreak of the pandemic, last month actually saw a recovery. In fact, a gauge of volatility in euro-area large caps shows that the war-induced slump is proving so far the shortest market rout this century.

Apple Inc. just had its longest winning steak in almost 20 years, and U.S. stocks gained almost than 10% in the second half of March. Even in Europe, epicenter of the geopolitical crisis, the Stoxx 600 has recouped the initial losses suffered after Russias invasion of Ukraine.

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Bull markets dont go quietly. After all, theyve come back from many other crises over the past few years, said Chris Beauchamp, chief market analyst at IG Group in London. Old habits die hard too -- buy the dip might be mocked quite a bit, but it is a sound strategy.

Bond Losses

Some of the rebound is down to the recent rout in the worlds other major asset class. The inflation spike, and the tightening push by central banks increasingly anxious to tame it, triggered a run from bonds.

Inflation is also eating away bank deposits, and mortgage rates are rising, leaving fewer places to allocate money.

The first quarter was a challenging quarter for stocks, but more so for bonds, said Marija Veitmane, a senior strategist at State Street Global Markets. If you are an absolute investor, you need to put money somewhere, and stocks to my mind look at lot safer than other asset classes.

Retail traders may also be playing a part in the latest gains. Options markets suggest at-home traders, who helped fuel last years ferocious equity rally, are back and buying. A key measure of call volumes on 23 retail meme story is rising to levels reminiscent of previous speculative bubbles.

Another force is more technical and less influenced by worrying global headlines about Ukraine and commodities. Market players such as so-called risk parity funds or managed futures accounts have poured money into the market as they re-adjust their position amid the price gains and reduction in volatility.

Systematic strategy covering of shorts and re-allocation of longs has meant a powerful buy impulse after the biblical de-leveraging experienced over the past six-month period, said Charlie McElligott, managing director of cross-asset strategy at Nomura.

He estimates such players bought more than $61 billion in equity futures over the past month.

Curve Inversion

When it comes to the negative economic signals, strategists at JPMorgan Chase & Co. are among those reassuring that the recent inversion in the U.S. Treasury yield curve doesnt spell imminent trouble. Even if the portents ultimately prove correct, its usually with a long lag, and Barclays Plc points out equities typically rise in the intervening period.

Among the reasons that investors discount the idea of a near-term slump are strong employment numbers in the U.S. Theres also consumers pandemic savings cushion and solid corporate balance sheets to fund buybacks.

Meanwhile, the energy-price shock after the invasion has eased. Europes reluctance to impose sanctions on Russias energy sector and a planned release from U.S. reserves, have helped alleviate the crunch, lowering prices back to around $100 a barrel.

For those convinced that the rebound has legs, the question is what to buy.

Philippe Jabre, founder of Jabre Captial Partners, says his multi-asset hedge fund is focusing on stocks with exposure to commodities, and financials.

UBS Global Wealth Management sees opportunities in energy, food, data and climate -- sectors set to benefit from a renewed focus on security and stability. For Goldmans team, instead of playing specific styles such as growth versus value, investors must look for individual companies that can innovate, disrupt, enable and adapt and focus on margins.

Still, both say that for the broader market, the upside is limited. Bank of America Corp.s team has even warned the recent rebound is a bear-market trap.

Barry Norris, who runs Argonaut Capital Partners, a hedge fund, agrees, saying the rally is lifting a lot of stocks where fundamentals are deteriorating further and theres no valuation support.

We are at the early stages of this bear market, we will see new lows over the summer, he said.

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In a World Full of Risk, Stocks Look Like the Least-Bad Option - Yahoo Finance

Adrian Grenier is bullish on crypto.

The "Entourage" actor, who previously said he expects Bitcoin (BTC_USD) to replace fiat currencies like the U.S. dollar, told Yahoo Finance that crypto can "fix a lot of the systems that are broken currently, and are quite wasteful across all industries."

Grenier, a UN Environment Goodwill Ambassador, defended operations like bitcoin mining, which critics say hurts the environment due to its sizable energy draw.

"[There's] a trade off for all things," Grenier noted, calling himself a "realist" when it comes to potential impact.

But "crypto isn't just a thing that uses energy," he continued. He added that he views cryptocurrencies as useful assets "that will fix many industries to be more efficient, so if you look at the global net benefit, I think it's it's a positive one."

Grenier, who ditched Hollywood and relocated to Texas to start his own communal farm, previously revealed that he plans to grow his own food and use digital currencies as a way to trade locally.

In addition to crypto, Grenier has cast his support behind another growing industry: space tourism.

The actor recently partnered with World View, the stratospheric ballooning and space tourism company, to serve as its Chief Earth Advocate. In the role, Grenier will "support World Views mission to rediscover Earth, inspiring new perspectives on the planet and encouraging deeper respect for it as a living organism," the company said in a press release.

Grenier told Yahoo Finance that the role was "perfectly aligned with my heart, my spirit and the work that I've been doing for a long time."

He added, "World View's mission isn't to leave the planet and escape...it's actually to peer back down and reflect upon our interconnectedness."

Adrian Grenier named Chief Earth Advocate for World View (Courtesy: World View)

World View recently announced an expansion of its services that includes entry into the space tourism and exploration market at an affordable price point.

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"It's all about creating attainable access. We believe that the benefits of space tourism are something that should be shared with as many people as possible," Ryan Hartman, World View President & CEO, said during the interview.

He explained that the company will be conducting stratospheric flights at several key wonders of the world, including the Grand Canyon, Great Barrier Reef, Giza Pyramids, among others.

Tickets will cost $50,000 with available financing a significantly cheaper option compared to competitors like Jeff Bezos' Blue Origin, which plans to charge a whopping $250,000 per ticket, or Virgin Galactic's (SPCE) $450,000 voyages.

"It's most important to understand that the experience itself is 6 to 8 hours long, so it's going to give our customers an opportunity to truly take in the beauty of the Earth, the fragility of the earth and see it as a living organism and as something bigger than themselves," Hartman revealed.

Grenier agreed that the business model will be successful due to the fact that "more people will be able to take the ride." He went on to say that the experience will also create "a critical mass of perspective change and a cognitive shift in awareness to our interconnectedness."

Commercial operations are set to begin in 2024 with the first human flight happening in late 2023.

Alexandra is a Senior Entertainment and Food Reporter at Yahoo Finance. Follow her on Twitter @alliecanal8193

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Adrian Grenier: Crypto can 'fix a lot of the systems that are broken' - Yahoo Finance

All eyes are on AT&T's (T) WarnerMedia spinoff with Discovery (DISCA).

"This is going to be the most exciting story in the sector for the next few years," Jessica Reif, research analyst at Bank of America, confidently told Yahoo Finance.

The telecom giant revealed it will issue a special dividend to shareholders on April 5 when they can decide whether to own just AT&T, the soon-to-be Warner Bros. Discovery, or both.

AT&T's WarnerMedia will represent 71% of Warner Bros. Discover, and its shareholders will receive an estimated 0.24 shares of the new joint venture for each share of AT&T that they own once the transaction closes.

WarnerBros. Discovery, which is set to trade on the Nasdaq (^IXIC) under the ticker symbol "WBD," will be run by Discovery CEO David Zaslav, with Discovery CFO Gunnar Wiedenfels serving as the new company's CFO.

On Tuesday, it was revealed that WarnerMedia CEO Jason Kilar will depart once the merger closes, according to an internal memo. Kilar, who co-founded Hulu, was appointed by AT&T to run WarnerMedia in April 2020.

"With the pending transaction with Discovery nearing close, now is the right time to share with each of you that I will be departing this amazing company," Kilar wrote.

"There are many feelings one could have in a moment like this, but for me there are none bigger, or more lasting, than the feelings of gratitude and love that I have for this team, this company, and this mission. Ive never been more fulfilled professionally. Ive never been happier professionally," he continued.

This is probably going to be the broadest offering the market has yet to see...Jessica Reif, Bank of America Research Analyst

Bank of America's Reif, who previously wrote that "the combination of these highly complementary assets, has the potential to create a global media powerhouse," further explained how the new entity will disrupt the market.

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"If you step back, this is probably going to be the broadest offering the market has yet to see," Reif stated, emphasizing the immense advertising potential that could result, in addition to the company's ability to optimize content spend, increase marketing efficiency and reduce churn.

'Mare of Easttown' (Courtesy: HBO MAX)

The analyst referenced the elevated scripted content of WarnerMedia's HBO from cultural success Game of Thrones to the more recent phenomenon Mare of Easttown along with Discovery's quirky, cult-favorite programs, such as Dr. Pimple Popper and 90 Day Fianc.

"[HBO Max] is at the very beginning of its growth curve," Reif continued, noting the streaming service has been "on fire," despite increased competition in the space.

HBO Max (along with ESPN+ and Paramount+) attracted the highest year-over-year increases in downloads last month, according to a new Bank of America note, citing Sensor Tower data.

The platform, which registered 9 million downloads in March (+142% Y/Y), likely benefitted "from its generally strong content offering, additional markets vs. the year ago period as well as new/recent releases including: West Side Story, Winning Time: The Rise of the Lakers Dynasty, The Tourist, and Minx," Bank of America said.

Streaming wars intensify amid WarnerMedia, Discovery merger

As investors begin to shift focus away from subscriber growth, Reif predicted that business operations and profitability will be key variables for shareholders moving forward.

"'Is this a real business?' 'Can you make money?' Can you offset the declines in the legacy business?'" the analyst said, reiterating her belief that Warner Bros. Discovery has "the best set of assets" to not only help offset declines in the secular business but also expand "into the next growth curves of streaming."

Still, execution remains a top challenge amid new management and restructuring woes, although Reif said she expects that the company will "thoughtfully" answer and respond to potential problems in due time.

Overall, Reif believes that Zaslav "will be the industry leader," replacing the void left by former Disney CEO (DIS) Bob Iger's departure.

"[Zaslav] has a proven track record," she continued, noting that the executive will be able to handle increased competition as other services begin to ramp up content production and build their individual brands and libraries.

"Warner Bros. Discovery is just getting started," the analyst concluded.

Alexandra is a Senior Entertainment and Food Reporter at Yahoo Finance. Follow her on Twitter @alliecanal8193

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Why Warner Bros. Discovery merger is the 'most exciting story' in streaming: Analyst - Yahoo Finance

NFL commissioner Roger Goodell says a lot without saying anything at all. Sometimes he says things are one way like teams' hiring practices being "unacceptable" when our eyes tell us the opposite.

One has to wonder, if there were a way to get Goodell to be candid for once, and find out if he regrets how he handled the investigation into the Washington Commanders' toxic workplace culture. Because it seems like there's a whole lot of people looking at the league and some of its teams these days, and it's not to applaud its increased television ratings.

We mean Wednesday's news from The New York Times that New York state Attorney General Letitia James and the attorneys general of Massachusetts, Illinois, Minnesota, Oregon and Washington wrote a letter to the NFL threatening to investigate the league's offices after an investigation the Times published in February detailed a workplace that demeaned and demoralized women and minorities.

"The NFL must do better pink jerseys are not a replacement for equal treatment and full inclusion of women in the workplace," the attorneys generals wrote. "Our offices will use the full weight of our authority to investigate and prosecute allegations of harassment, discrimination, or retaliation by employers throughout our states, including at the National Football League."

We mean last week's report from Front Office Sports that a former Washington employee told members of Congress that the team essentially kept two accounting books and withheld ticket revenue, which it is supposed to share with the league's 31 other teams. The Commanders have denied the accusation.

Dan Snyder departs after attending an event to unveil Washington's new nickname, the Commanders, on Feb. 2 in Landover, Maryland. (AP Photo/Patrick Semansky)

The House Oversight Committee began looking beyond the allegations of an office rife with abuse and harassment of female employees, allegations that include team owner Daniel Snyder, and into the team's business practices as well. And there was also a Capitol Hill roundtable in February, during which several former employees recounted years of uncomfortable at best, nightmarish at worst misconduct they endured or saw in team offices.

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It's easy for the NFL to pay lip service to the idea that it is trying to do better as the league trots out public service announcements to give the illusion that it is. But Congress and state AGs digging around might be enough to make Goodell and his employers, the franchise owners, squirm.

Which brings us back to the initial investigation in Washington, and Goodell's (mis)handling of it that may have started this domino effect of negative headlines and closer looks.

After bungling the Ray Rice suspension in 2014, the commissioner pledged to do better. There was too much justified public outcry against Goodell to sweep aside after he initially gave Rice two games despite video evidence of Rice punching his then-fiance unconscious and dragging her off the elevator where the assault happened before the league changed it to an indefinite suspension.

The NFL's offices have added more women and non-white employees and executives, but women who spoke to The New York Times for its February story say it remains a place where women are generally excluded, and that the league is still highly invested in maintaining its "overall whiteness."

And for his claim that the NFL would be more transparent, the findings of the investigation into Washington's workplace culture have been as fiercely protected as the nuclear football. Not only was a report not released, Beth Wilkinson's firm was instructed not to produce a written report, ostensibly because anything in writing could be leaked (just ask Jon Gruden).

Washington, not Snyder, received a fine that amounts to pocket change, and Snyder was told to stay out of the day-to-day happenings of the team. And that was after he was allowed to buy out the franchise's minority owners.

The sad fact is that for most hardcore NFL fans, none of these off-field stories matter. They don't care how female employees were abused and harassed, they don't care if Snyder was truly sharing revenue with the other franchise owners as he's supposed to do (though based on Washington's attendance in recent years they weren't missing out on much).

There are a lot of Commanders fans who care about the team's performance, and know that under Snyder's ownership there have been precious few playoff appearances, a parade of starting quarterbacks, and a litany of missteps and embarrassing moments for a once-proud franchise.

This hasn't stopped the ownership class from protecting him, as if there isn't another billionaire who is slightly more likable who'd pony up for Washington and bring some respectability to one of the league's oldest clubs.

But for those of us who look beyond the standings and have been paying attention to some of the terrible stories swirling around the league in recent months, it's worth wondering if Goodell regrets not telling the public at least some of what the women in Washington team offices endured and taking a harder stance with Snyder.

Because things have seemingly gone from bad to worse since.

Read more here:

The NFL's Daniel Snyder problem won't stop ballooning to the chagrin of Roger Goodell and league - Yahoo Sports

Title unifications are always a great thing in boxing, but Saturdays bout in Saitama, Japan, between IBF champion Gennadiy Golovkin and WBA champion Ryoto Murata doesnt have the same feel that a huge fight usually delivers.

Its because Murata is a weak champion who only has a belt because at one point the WBA was seemingly giving them to everyone.

Murata is 16-2 with losses to Rob Brant and Hassan NDam, good boxers but nowhere near the level of Golovkin.

Murata represents the latest in a string of less-than-stellar opponents for Golovkin, who for years was viewed as the most-avoided man in boxing.

Since his rematch with Canelo Alvarez in 2018, Golovkin has fought Steve Rolls, Sergiy Derevyanchenko and Kamil Szeremeta. Derevyanchenko was by far the best of that group, and he was best known for his performance in a loss. Golovkin was badly ill on the night he fought Derevyanchenko but still won a solid decision.

Saturdays bout is another in a string of less-than-optimal Golovkin opponents, though it is a big fight in Japan. Thats because Golovkin, who turns 39 on Thursday, is still a huge name in the sport.

Golovkin conceded his opposition hasnt been what hed hoped it would be.

It is a good question, indeed, and I don't want to blame anybody, don't get me wrong, he said. But trust me, I still want to box. I still want to challenge top fighters. I still want to be active. But as you obviously know, I signed with DAZN. And this is how they see the development of my career. This is how they see, how they approach the business of boxing.

Gennadiy Golovkin has to win Saturday to earn a third fight with Canelo Alvarez. (Photo by Cliff Hawkins/Getty Images)

What the bosses at DAZN clearly hope is that Golovkin batters Murata, Alvarez defeats Dmitriy Bivol on May 7, and they can meet later in the year in the third renewal of their rivalry. Both of the first two bouts were extraordinarily close, with the first a draw and Alvarez winning the second.

Since defeating Golovkin, Alvarez has risen to become the pound-for-pound best fighter in the world. He won the undisputed super middleweight title and will bid for a light heavyweight belt against Bivol.

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More importantly from a business standpoint, Alvarez has collected a series of massive paydays. While Golovkin isnt hanging out with a cup on the side of the road seeking donations, he hasnt made a fraction of what Alvarez has made since winning their second fight.

If it bothers Golovkin, though, hes doing a good job of hiding it. In fact, he predicted it would happen before the rematch.

First of all, I never count other peoples money, Golovkin said. I was not brought up this way. And secondly, around the time when those two fights happened, I said that whoever wins those fights will get an amazing opportunity that will probably be unattainable for other fighters.

Because at the time, if you look at who was at the third position, fourth, fifth, they could not be compared. So, those two fighters, me and him, we were at the top. And the result of those fights opened up the future for the fighter who prevailed.

Golovkin was brilliant against Szeremeta, working the body in a brutally efficient manner. He stopped the Polish mandatory challenger in the seventh round after dropping him four times.

It hearkened back to the days of GGG and his Mexican style approach he learned from former trainer Abel Sanchez. He parted ways with Sanchez in 2019 and has worked with Johnathon Banks since.

Banks hasnt changed what hes done, Golovkin said, but added to it and given him more tools.

I personally believe that I got better, Golovkin said. I became a more versatile fighter. I expanded my arsenal. And of course, with age, you try different approaches based on your abilities, based on what you can do at this particular moment. And you also have to take into consideration the fact that I have a different team right now, with a different philosophy. And we're trying out new things.

Hes going to need everything he can to get past Alvarez, who is hitting his peak and is in his prime now.

Golovkin isnt concerned about that now, though, both because hes spent 24 rounds in a ring with Alvarez and knows what to expect and because he needs to take care of Murata to make a third Alvarez fight a reality.

Murata hasnt had anything close to what could be considered a signature win, which a win over GGG would represent. They sparred together briefly years ago and so Golovkin is familiar with him.

He knows hell get the best of whatever Murata has on that night, because it will be the biggest night of Muratas career. Golovkin insists hes ready.

You correctly pointed out that, in my opinion, he has not had a chance to face a fighter of my level or to see the boxing that Im going to demonstrate, Golovkin said. At the same time, I dont want to diminish his wins. I dont want to say anything bad about the guys over whom he prevailed. And the fact that in his rematches, he avenged both losses, it says a lot.

In his interview, he said that a fight against me would be the pinnacle of his career. He trained for this fight very seriously. And we also know each other personally. We even sparred at some point during the training camp, some time ago. So Im ready for this.

See more here:

Gennadiy Golovkin has business to tend to, but Canelo Alvarez remains the goal - Yahoo Sports

First published on Simply Wall St News

SoFi Technologies, Inc. (NASDAQ:SOFI) is nearing all-time lows, and we are wondering if the company has enough future earning power to recover, or has the current climate changed the outlook. In this article, we will estimate what the company is expected to make from analysts vs. what it needs to make given the current price.

For a quick overview of the results of our analysis, here are the key takeaways:

The market expects SoFi to make around US$300m profit in 2024.

Analysts are forecasting profits of US$136m in 2024, but the risk-return requirements of marginal investors are increasing the demand for higher profits sooner than before.

Rising interest rates may be impacting the reason why investors are demanding more and the stock is dropping.

As you can see, fundamentals matter, and we will go over SoFi's past and expected performance.

When we have a young company, without a reliable valuation, we can turn to the market cap and use it to see what are the implied earnings after a certain period. We do this calculation to discover what is "priced in" by the market.

The company currently has a market cap of US$6.8b (intraday), which implies that it makes earnings of US$302.6m in the fiscal year 2024.

We can calculate this by taking the market cap, time weighting it by the cost of equity in 3 years and multiplying by the cost of equity to arrive at the implied earnings.

Calculation: 6,8 0,872 0,0388 = 302.6

We see that, given the current market value (stock price), the company needs to make a bit over US$300 million in 3 years in order to justify today's price.

Now we will compare this with analysts' forecasts and size up the difference.

Check out our latest analysis for SoFi Technologies

According to the 13 industry analysts covering SoFi Technologies, the consensus is that the company will start generating positive profits of US$136m in 2024.

While it is great that the company is projected to become profitable a bit over 2 years from now, our calculation suggests that the current stock price has an additional US$166.5m of required or "priced in" earnings. This is by no means game over, as the company can make up for this difference with earnings even further out in the future. What we are currently seeing in the drop of the price, can be a change in patience from investors, more than a change in forecasts.

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This change of patience or risk appetite, may come from increasing inflation, which impacts discount rates used in calculating the required returns by investors.

Breaking into profitability can be a large catalyst for a stock, as it validates that a business can serve a market and can capture some of the created value.

How fast will the company have to grow each year in order to reach the breakeven point by 2024?

Working backwards from analyst estimates, it turns out that they expect the company to grow 67% year-on-year, on average, which signals high confidence from analysts, and shows the breakeven point in 2024.

If this rate turns out to be too aggressive, the company may become profitable much later than analysts predict and possibly extend the drop in value.

income-growth

Given this is a high-level overview, we wont go into details of SoFi Technologies' upcoming projects, however, bear in mind that by and large a high growth rate is not out of the ordinary, particularly when a company is in a period of investment.

For investors that believe in this industry, and think that digital lending and financial services can create value for the future, then they can check some of SoFi's competitors:

sofi-peers

This article is not intended to be a comprehensive analysis on SoFi Technologies, so if you are interested in understanding the company at a deeper level, take a look at SoFi Technologies' company page on Simply Wall St. We've also put together a list of pertinent aspects you should further research:

Historical Track Record: What has SoFi Technologies' performance been like over the past? Go into more detail in the past track record analysis and take a look at the free visual representations of our analysis for more clarity.

Management Team: An experienced management team on the helm increases our confidence in the business take a look at who sits on SoFi Technologies' board and the CEOs background.

Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore our free list of these great stocks here.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

Simply Wall St analyst Goran Damchevski and Simply Wall St have no position in any of the companies mentioned. This article is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.

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Here is Why Investors are Revising their SoFi Technologies, Inc. (NASDAQ:SOFI) Pricing - Yahoo Finance

When Major League Baseball (MLB) officially kicks off its new season on Thursday, Americas pastime will take on a decidedly different look.

For one, pitchers will largely be absent from the batters box, with new rule changes allowing for a universal designated hitter. Other tweaks to the game will mark the return of the ghost runner on second base for regular season extra-inning games, while the post season will expand from 10 to 12 teams.

But Sam Kennedy, CEO and president of the Boston Red Sox, said more drastic changes are needed to bring in a new generation of fans into the game.

The quickest answer is, weve got to pick up the pace of the game, he said, in an interview with Yahoo Finance. We need more offense, less strikeouts, more balls in play ... fans want to see action. Fans want to see a game that is more quick.

Kennedys comments come as MLB struggles to expand the reach of baseball. The league hit a 37-year low in attendance in 2021, with 45.3 million fans filling stadiums for regular season games. That marked a near 34% drop from the 2019 season.

While COVID-19 restrictions, and concerns about public health weighed on fan attendance, TV viewership only proved to be marginally better. Viewership for the World Series improved from a 2020 low, with 11.75 million people tuning in to watch the Atlanta Braves take on the Houston Astros, but it came in well below the 23 million, just five years ago.

A prolonged lockout in the off-season has only added to the apathy. In a recent poll conducted by the Los Angeles Times and Survey Monkey, 6-in-10 Americans said the labor dispute had caused them to lose interest in the upcoming baseball season. Another poll found that 54% of the general public said they had no interest in baseball.

At the end of the day, the consumer will win. They will tell us where we need to be and when we need to be there, Kennedy said.

Critics have pointed to the length of the game and the long lull in between action as factors behind the lag in fans. A nine-inning regular season game averaged 3 hours and 10 minutes last season. Meantime, hits have plummeted to near historic lows while strikeouts have soared.

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The league and the players association have agreed to more dramatic changes for the 2023 season, following a trial run in the minor leagues this season. The bases will be bigger and easier to reach, to encourage base stealing, while a pitch clock will be implemented to shorten at-bats. Kennedy said he supports both changes that will allow baseball to find the best version of itself.

Atlanta Braves shortstop Orlando Arcia (11) is tagged out in the second inning by Boston Red Sox second baseman Yolmer Sanchez (47) during a spring training baseball game at the CoolToday Park Sunday, April 3, 2022, in North Port, Fla. (AP Photo/Steve Helber)

Beyond the field, the MLB is expanding its broadcast reach through new partnerships this season. Apple TV+ will exclusively begin streaming Friday night games, while the MLB is reportedly finalizing a deal with NBCUniversal to exclusively air 18 regular season games in a new Sunday time slot on its Peacock streaming platform.

Kennedy said he is fully supportive of the shift from cable TV to streaming, despite concerns from fans who say the new partnerships are likely to limit accessibility for those who are not subscribers.

Whats important is that we are where fans want us to be. On their mobile device, on their laptop, on their iPad, on their 80-inch television screen, and a bar or wherever, he said. We need to break down this friction and people need to be able to watch Red Sox games wherever, whenever, however they want to do it ... this is a step in the right direction for Major League Baseball.

Akiko Fujita is an anchor and reporter for Yahoo Finance. Follow her on Twitter @AkikoFujita

Read the latest financial and business news from Yahoo Finance

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Red Sox CEO: Weve got to pick up the pace of the game - Yahoo Finance