Opening Comments
My last note got a lot of positive feedback, with one friend saying it was a “top 10” Rosen Report. The theme was about the Sports Illustrated cover curse and I tied it to the Rosen Report curse that caused Tesla to crash. The most opened links were the drink that can prevent dementia, heart disease and cancer and colon cancer symptoms. The link showing the wealthiest people in the world on a rotating basis since 1988 got a lot of attention too and was my favorite.
I did receive dozens of emails about my RAYUS Radiology comment that they asked me to fax my script for an MRI. Turns out there are HIPAA regulations that may limit the ability to accept emails which is something I had not considered. However, when I walked into the MRI facility, I was asked, “Can you email us the MRI script?” Strange if there are truly HIPAA issues. Due to my comments in my last report, a connected reader got me an appointment at 7:30 am the next day (2 weeks early), and the script was read immediately. From the time I had my MRI until the results was a couple of hours. The RR strikes again! Read in 50 states and 103 countries. The MRI result: I have another labrum tear and tendonitis of the bicep tendon. Shockingly painful. Getting old sucks. I am trying to avoid surgery given the complications from the last one.
Multiple readers suggested to just pay cash for the MRI to avoid the insurance hassle. Given how much I spend on health and wellness, and the fact the insurance never seems to cover my needs, I feel morally obligated to run anything possible through insurance.
The other correction is I mentioned US tax receipts were $5.1bn, obviously it is in TRILLIONS!
Markets
Top CEO Pay
The Great Wealth Transfer
Top Colleges for Billionaires
Miami Office Losing Luster
NYC-The Good and the Bad by Bloomberg (charts)
Casa Cipriani Miami Condos Start at $25mm
NYC Rent Stabilized Distress Growing
Video of the Day-Aura-Tool For Parents to Help Monitor Kids
The legend Jeff Katzenberg (Disney/Dreamworks), is working on a set of tools to give parents insights without intruding on kids. The company is called, Aura and is uses AI to check children’s social media interactions and flag troubling messages. This 7-minute video is a must watch for parents in a dangerous age of predators and troubling mental issues for youth. The AI tools read the messages and gives insights to parents without divulging all the personal details. The AI can detect the speed of typing and tendencies to check your child’s mood and anxiety. This tool can alert parents of a struggling child that they may otherwise not pick up. I have not used this, but based on the CNBC interview, it sounds compelling. Katzenberg highlights that 20% of adolescents suffer from low self-esteem, 52% have an eating disorder, 70% say anxiety and depression is a major problem among their peers, and 33% consider suicide. I have written about these issues extensively, and they stem in many cases from social media.
The Power of the Mind
If you Google “The Power of the Mind,” there is no shortage of stories that come up on the subject: Accessing The Power Of Your Mind: Placebo Effect And Mindset, Power of the Mind, Power of the Mind: How Your Thoughts Can Transform Your Life, The Power Of The Mind: Harnessing the Power of Your Mind for Success and Conquering Burnout, among dozens of other headlines.
My readers know I tend to be a black-and-white thinker and not one who sees a lot of gray. However, I am a firm believer that your thoughts can influence outcomes, and I am going to give you a couple of examples from my life.
At one point, I was a nice golfer. I played a lot and practiced almost daily. I hit the ball far enough and felt comfortable playing with anyone. Eventually, my bad back and shoulder prevented me from practicing, and my game declined significantly to the point that I no longer enjoy playing much. I can tell you that when I was at my best, there was only one thing I was certain of. If I had a negative swing thought, the result was bad 100% of the time. It might have been an awkward lie, yardage in between clubs, strong wind, or anything else that gave me a negative thought. I could guarantee you a bad shot unless I could get my mind in the right place for me to have any chance of hitting the shot I planned. For the life of me, I don’t know how professional golfers stay in the right mindset in front of a crowd and for all that money. Sadly, the PGA Tour will not be calling my name.
Last Saturday night, I had a dream that I hurt myself playing padel. I woke up a few times from it and kept going back to the same dream. In my infinite wisdom, I decided to play on Sunday, and on the drive to the facility, I kept thinking about my potential injury. I did my regular 25-minute warm-ups and felt uneasy. We started to play, and I was not my aggressive self who generally bounces off the walls when I play. I tend to go after every shot and pride myself on my athleticism and speed. On Sunday, I was playing to not get hurt. I was not in my regular form… and what happened?I re-injured my calf and couldn’t help but feel like the constant negative thoughts I had going into the game played a role – not just in how I played, but in getting hurt again. Thankfully, it is not torn, but strained and painful. The mind is powerful.
“The best advice that I could give anybody, I think, it would be to meditate, and that’s because it gives you a calmness and equanimity. It gives you a sense of spirituality, which means ... [a] connectedness to the universe, connectedness to people,” he said. “Whatever success I’ve had in life, has been more due to my meditating than anything else.”
Quick Bites
Stocks jumped 1.5-2%+ on Monday on optimism that President Donald Trump may hold back from implementing some of his wide-ranging tariff plans, and so the U.S. could skirt an economic slowdown from a protracted trade war. However, On Wednesday, stocks sold off again (-1-2%) on new auto tariffs expected Wednesday afternoon. Wednesday, the Nasdaq underperformed and software stocks were weaker. I have no problem with reciprocal tariffs. I do have a problem with the on-and-off nature of these announcements, as they are confusing and sapping confidence, as seen in the latest CFO survey by CNBC. The data in the survey is troubling. Also, consumer confidence fell further in March to 92.9 and was the fourth consecutive monthly contraction. However, the measure for future expectations told an even darker story, with the index tumbling 9.6 points to 65.2, the lowest reading in 12 years and well below the 80 level that is considered a signal for a recession ahead. Treasury yields are up decently from last week when the 10-year hit 4.17% and are now 4.34%. Despite growing recession fears, tariff concerns seem to be weighing on the Treasury market.
Good WSJ article about $100mm CEO pay packages disappearing. The number of $100 million-plus pay packages began to fall off sharply around the time Musk’s pay package came under fire in Delaware Chancery Court. However, pay is climbing for CEOs in the S&P 500 and on pace to set a record. More than half of the S&P 500 CEOs in a Wall Street Journal analysis made at least $16.4 million last year, up from $15.9 million in 2023, according to data from MyLogIQ. Driving the broader rise in 2024 pay: fewer CEOs making less than $10 million and a skew to heftier packages, according to the Journal’s analysis of than 150 companies. More than a third of those CEOs received pay valued at $20 million or more — compared with about 25% two years earlier, MyLogIQ data show.
This story from MSN outlines the $84 trillion wealth that is expected to change hands as Boomers pass assets on to children. It's been dubbed the Great Wealth Transfer, and a lot of younger people are no doubt hoping to take part in it. Despite making up only 21% of the U.S. population, baby boomers hold half of the nation's wealth, according to Visual Capitalist. Yet, it’s not a given that their money will be passed down to future generations. A 2024 Northwestern Mutual survey found that only 22% of baby boomers intend to leave an inheritance to younger generations. And only 11% of boomers say that leaving a gift for their children or future generations is their single most important financial goal.
Just as the FIRE (financial independence, retire early) movement has gained traction in recent years, so too has the "die with zero" philosophy, which has people spending down their wealth in their lifetime rather than leaving money behind. Northwestern Mutual found that 32% of millennials and 38% of Gen-Zers expect to receive an inheritance. And 59% of millennials and 54% of Gen-Zers say that inheritance is either critical or highly critical to their financial security.
Interesting report about the top colleges for billionaires. A new report from course aggregation company Class Central hails Harvard University as the hotbed for the 1%, ranking number one with the most (144) billionaires having attended the school. The average billionaire Harvard alumni boasts a net worth of $9.65 billion—with its richest former student, Mark Zuckerberg, leading with $236 billion in the bank. The Meta CEO dropped out of the university his sophomore year to focus on building Facebook into the social media empire in is today. But he couldn't have done it without the four co-founders he met at Harvard. For me, the allure of Harvard has dissipated dramatically. The Jew hate, insane teachings, absurd mandates, and more have me feeling far less bullish on Harvard today.
Politics
The Trump Administration Accidentally Texted Me Its War Plans
U.S. national security leaders included me in a group chat about upcoming military strikes in Yemen. I didn’t think it could be real. Then the bombs started falling. I would say this is concerning and the more info that gets released the more adamant I feel this was a major screw up. The time of the attack was in the chat and to me, that should be classified. I feel the Trump Administration has done some things well, but this is amateur hour. Hegseth claims nobody was texting war plans, but I believe a journalist was inadvertently included on a Signal chat that was outlining upcoming attacks that played out days later. It seems as though National Security Advisor Mike Waltz added Atlantic editor Jeffrey Goldenberg to the chat. Why were they not using encrypted communications? Trump suggested Waltz ‘has learned a lesson.” This NY Post article has Goldenberg outline what he saw without giving up the secrets. On Wednesday, Goldenberg published more Signal texts as well. I feel strongly that war plans should be done on encrypted devices and platforms. I am hopeful this fiasco leads to smarter communications. The Press Secretary, Karoline Leavitt, went after Goldberg to discredit him. Also, this Townhall article suggests Goldenberg’s story is losing steam, but after reading the latest release, I am not sure why. Waltz also took “full responsibility” for the “embarrassing” Signal leak on Tuesday.
Treasury Department is set to lay off a ‘substantial’ number of employees
It appears Trump’s reciprocal tariffs are bringing parties to the table to try to level the playing field. I am 100% on board with this plan. I do feel the tariff implementation in general has been too sloppy.
Why Many Americans Are On Board With Federal Worker Firings
Some envision bloat and cushy jobs. ‘Let ’em go; get rid of them.’
Chuck Schumer rejects calls to step down as Senate Democratic leader
Exclusive: 20% of Americans support boycott of firms aligning themselves with Trump agenda
Former Squad Rep Cori Bush's Husband Charged With Covid Relief Fraud
I disagree with sponsorship for a White House egg hunt. The sponsorship offers range from $75,000 to $200,000, with the promise of logo and branding opportunities.
EPA Secretary: "$20 Billion Went To Just Eight NGOs, And They’re All Pass-Throughs"
The waste and fraud is so disgusting. YOUR tax dollars.
@elonmusk and the DOGE team, and we got this done in the same day. Other states should follow Florida in supporting DOGE's efforts!
Trump says countries that purchase oil from Venezuela will pay 25% tariff on any trade with U.S.
Some Europeans reconsider trips to US in protest against Trump
Europeans spent $155bn on travel to the US in 2023. Already seems as though some are cutting travel plans.
Middle East
Israeli strike on south Gaza hospital kills senior Hamas official
Witkoff: Hamas isn’t ideologically intractable, Gaza conflict can end through dialogue
Israel strikes Lebanon after first rocket attack since ceasefire
Houthi rebels launch missiles at US aircraft carrier and Israeli airport
Clearly, we need to more aggressively bomb the Houthis.
How there is any discussion of supporting this clown is disgusting.
Don’t give Columbia the money. They do not have the best interests of Jews and Israel in mind.
Other Headlines
Recession is coming before end of 2025, generally ‘pessimistic’ corporate CFOs say: CNBC survey
The probability of a recession is approaching 50%, Deutsche markets survey finds
Over 9 million student loan borrowers past due after bills restarted, Fed estimates
There was such a long moratorium on debt payments that the consumer was lulled into a false sense of security. Reality is hitting, and delinquencies are skyrocketing.
Dollar Tree says it’s winning over higher-income shoppers and may offset tariffs with price hikes
Wall Street Bonus Pool Surges to a Record $47.5 Billion for 2024
Balyasny’s $50 Million Pay Deal Lures Citadel Trader Brodsky
He lost $60mm in 2025, yet was paid $50mm to go to Balyasny.
UK forges ahead with billions in welfare spending cuts as growth forecast halved
Google has made 4 of the top 10 acquisitions of all time. Not too shabby.
Chinese EV giant BYD surpasses rival Tesla with record 2024 revenue
YTD, BYD stock is +52% and TSLA -24%.
OpenAI plans to triple revenue this year
What are the ramifications due to the growth in AI on jobs, medicine, education, efficiency, and the future of employment? Bill Gates: Within 10 years, AI will replace many doctors and teachers—humans won’t be needed ‘for most things
Novo Nordisk’s next-gen obesity drug CagriSema had investors excited. Now they’re not so sure
Calif. AG issues stark warning to 15 million 23andMe users as bankruptcy looms: ‘Delete your data’
READ THIS if you used 23andMe.
4 American soldiers killed after they went missing on training mission in Lithuania just miles from the border
Meet 14 of America's Wealthiest Self-Made Teenagers in 2025—See How They Built Their Fortunes!
How do you think most of them made money? Influencer of some sort.
Self-made millionaire: Most Americans waste too much money in these 6 categories
How to score the ‘absolute best deal’ at an estate sale, from a 33-year-old who attends them weekly
In the Hamptons, I would take the kids to yard sales and give them $5-10 to buy crap and negotiate. It was fun. I am not convinced we ever bought anything we used for more than 5 minutes.
Paris residents vote in favor of making 500 more streets pedestrian
The purpose is to curb car usage and improve air quality.
March Madness TV Ratings Surge to 32-Year High Despite No Cinderellas
CBS reporter’s photo with 7-foot-9 Florida player Oliver Rioux goes viral
Health Related
I’m a stroke expert — the ‘essential 8’ ways to reduce your risk
Waist size is better predictor of cancer risk in men than BMI
I am not a fan of BMI.
Prostate cancer risk increases by 45% among men who share one behavior
Cannabis users under 50 are 6 times more likely to have a heart attack
Adult ADHD prescriptions still on the rise, especially among older women
Can a daily nap do more harm than good? A sleep researcher explains
I only nap if I am sick.
The 5 worst fast foods for your health that you should avoid at all costs
These pills can significantly cut heart attack, stroke risk
The article suggests a statin and Ezetimibe rather than statins alone.
Dengue fever cases rising in popular spring break locations, CDC alerts
Dengue fever is no joke. I thought I was going to die when I had it.
Real Estate
The Miami office market has lost some steam as outlined in this Real Deal article. In recent years, South Florida’s office market appeared resilient to financial woes experienced elsewhere in the U.S. Major companies leased across the tri-county region, making brokers giddy. Developers announced plans for new South Florida office projects, offering flashy renderings. Yet by now, some of these projects are canceled or paused. The progress and success of others remain in doubt due to a lack of preleasing.
This Bloomberg article, “What Living in New York City Is Like Now: From Rent to Rats,” has so many amazing links and charts. Too much to outline. It covers crazy inflation and skyrocketing rents as well as a 111% increase in vacant office space since 2019. Despite many wealthy residents leaving, tax revenue is up sharply. The city gets crushed on quality of life with crime, tickets, police and fire response time, drug overdoses, rat sightings, graffiti…
Casa Cipriani is expanding to Florida with 23 condos and a 40 room boutique hotel at 1611 Collins Avenue in Miami. Designed by architect Brandon Haw, the building will pay homage to Miami Beach’s Art Deco history with a Cipriani sensibility that dates back to the original Harry’s Bar founded by Giuseppe Cipriani in Venice in 1931. Sales for the one- to four-bedroom condos are expected to start in the $25 million range later this year. Pre-pandemic, if you wanted to build a condo with prices starting at $25mm, people would have thought you were crazy.
In the past two years, the distress rate for securitized New York multifamily loans has more than doubled to 14.4%, according to Kroll Bond Rating Agency data. Distress, per Kroll’s definition, designates a delinquency or special servicing stay. Notably, 90% of the $1.8 billion in New York multifamily debt is tied to properties subject to some sort of rent restriction, according to CRE Direct. The distress rate for apartment properties built before 1974 — when most rent-regulated units came online — is 25 percent, further highlighting the ties between rent stabilization and financial trouble. Clearly, the idiotic rent laws coupled with higher rates are to blame.
© 2025 The Rosen Report LLC. All rights reserved. Does not constitute investment, financial, legal, or tax advice. Consult with your lawyers and professional financial advisers. Rosen Report™ #772 ©Copyright 2025 Written By Eric Rosen.