Ana O Ramirez: Redefining Leadership through Exceptional Business Strategies

1. WWW.THEENTERPRISEWORLD.COM | AMERICAS EDITION | FEBRUARY 2024 + MICHAEL BURRY'S Investment Hotspots + MELBOURNE: The Sporting Capital of Australia + The Unseen Thread: How THE NEW YORK TIMES Connects Us to the World MostSuccessful ANA O RAMÍREZ THE Chair Of The Board Of Directors Business Leaders to Watch Out Rhisco Redefining Leadership through EXCEPTIONAL BUSINESS STRATEGIES

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5. F r o m E d i t o r ’ s D e s k Welcome to the latest edition of The Enterprise World magazine, where we present to you a compelling insight into the world of business leadership with our special issue titled "The Most Successful Business Leaders to Watch Out." bring you stories of resilience, innovation, and visionary leadership from some of the most accomplished business leaders who are making waves in their respective industries. In this edition, we As the business landscape continues to evolve rapidly, the role of effective leadership has never been more critical. In the face of unprecedented challenges and disruptions, these leaders have demonstrated remarkable agility, strategic foresight, and a relentless commitment to excellence, driving their organizations towards success and sustainability. Through exclusive interviews, thought-provoking articles, and captivating profiles, we showcase the journeys, achievements, and insights of these exceptional leaders who are shaping the future of business. From pioneering entrepreneurs and seasoned executives to disruptors and game-changers, each story offers valuable lessons and inspiration for aspiring leaders and seasoned professionals alike. In this issue, you will discover how these leaders have navigated through adversity, embraced innovation, and leveraged emerging technologies to drive growth, foster innovation, and create lasting impact. From harnessing the power of digital transformation to championing diversity and inclusion, the strategies and philosophies shared by these leaders offer invaluable insights into the evolving dynamics of leadership in today's dynamic and competitive business environment. Join us as we celebrate the accomplishments and contributions of "The Most Successful Business Leaders to Watch Out" and gain valuable perspectives on leadership excellence, organizational resilience, and the pursuit of success in an ever- changing world. Thank you for embarking on this journey with us as we explore the inspiring stories and insights of these remarkable leaders, shaping the future of business and inspiring the next generation of leaders. Shalmali W.

6. The Enterprise World, 1985, Henderson Rd, Columbus, Ohio, 43220 Follow Us On: For Editorial Concerns: editors@theentetpriseworld.com For Sales & Branding Enquiries: sales@theenterpriseworld.com For Subscription: info@theenterpriseworld.com Publisher The Enterprise World Marketing Coordinator (AMERICAS) Creative Content Editor Shalmali W. Peter J. PR & Marketing Coordinator Business Development Executive James H. Erica R. Creative Design Head Graphic Designer Sankalp K. Divya B. Social Media Manager Digital Circulation Manager Narendra S. Amanda V. This list is NOT a ranking. The companies on listed in magazine serve different aspects of the market, making ranking them in any order except revenue impossible and unfair. We try to bring a perfect platform for business organization to showcase their valued products/ services. Copyrights © The Enterprise World | 2019. All Rights Reserved. The images and content included in this magazine should not be copied, transferred or reproduced in any form or by any means, electronics, mechanical, photocopying, recording, otherwise, without proper permission from The Enterprise World. The Enterprise World solely owns all the reprint rights.

7. L E A D E R S I N S P O T L I G H T For the cover read about - Rhisco, Ana Being the Chair of the Board of Directors at with nearly 30 years of experience in credit, comprehensive risk management, banking, reengineering, audit, corporate governance, and mergers and acquisitions. Moreover, she is an independent non executive director and member of various risk, audit, and finance committees. Ana is a founder and owner of businesses in the financial and interior design sectors. Her strong social commitment is demonstrated through her position as a Vice President and Board member of the Obras Foundation and as a Director of Productive Projects in the Sierra Chontal Oaxaca. Ana is a founding member of the National College of Independent Professional Non Executive Directors to Companies. is a leader Founded in 2010, Rhisco is located in the UK. In 2014, its branch was opened in Mexico, and in 2023, its Uruguay branch was established. Started as a consulting firm, the founders always thought of constructing various landscapes that could solve most of the problems observed by the team while consulting clients.

8. C O N T E N T S 12 Ana O Ramírez

9. upshot 24 Melbourne: The Sporting Capital of Australia Blog 34 Michael Burry's Investment Hotspots Case Study 42 The Unseen Thread: How The New York Times Connects Us to the World Review 52 Notion - Product Review

12. Cover Story Redefining Leadership through EXCEPTIONAL BUSINESS STRATEGIES S realize their full potential by honing their inherent talents and empowering them to take the lead. Ana O Ramirez (Chair of the Board of Directors at Rhisco) is an influential business leader motivated by the mantra of exceptional efforts, incomparable services, and the best client experience. She brings a new level of intelligence & technology, transforming data into a profitable asset. uccessful business leaders balance risk and innovation. Whether they are running a well- established institution or a startup, good business leaders inspire others with their vision. Some of the most famous business leaders in the world are known for helping others Strong Social Commitment Being the Chair of the Board of Directors at Rhisco, Ana is a leader with nearly 30 years of experience in credit, comprehensive risk management, banking, reengineering, audit, corporate governance, and mergers and acquisitions. Moreover, she is an independent non executive director and member of various risk, audit, and finance committees. Ana is a founder and owner of businesses in the financial and interior design sectors. Her strong social commitment is demonstrated through her position as a Vice President and Board member of the Obras Foundation and as a Director of Productive Projects in the Sierra Chontal Oaxaca. Ana is a founding member of the National College of Independent Professional Non Executive Directors to Companies. | February 2024 12

13. ANA O RAMÍREZ Ana O Ramírez Chair of the Board of Directors Rhisco www.theenterpriseworld.com | 13

14. Delivering ad-hoc Solutions Balancing Risks and Innovation Founded in 2010, Rhisco is located in the UK. In 2014, its branch was opened in Mexico, and in 2023, its Uruguay branch was established. Started as a consulting firm, the founders always thought of constructing various landscapes that could solve most of the problems observed by the team while consulting clients. There were similar problems and the solutions looked more like patches rather than a real way of solving the technological issues they were facing. In order to provide various services, the company has a platform that helps its clients deliver their regulatory reports and loans along with risk provisions calculation. In the consultancy arena, the company delivers ad-hoc solutions to its clients through a specialized team that includes functional, integration, and development profiles. To maintain stability and profitability in the organization’s functioning, it is important to balance the need between innovation and risks. Rhisco builds products whether that is through the company’s platform or its consultancy services that bring consistent and reliable income. Henceforth, the company can dedicate the resources to look for trends and review the technology. It allows the construction of new prototypes for testing if its approach and premises are correct and appropriate. Identifying and developing the talent for the betterment of the company requires a clear understanding of the roles of the company and what skills are essential. These requirements include soft skills, a strong alignment with ten company values, and any technical, leadership, or team skills built with a blend of internal and external training. Clear, Measurable, and Meaningful Goals The main inspiration behind establishing Rhisco was to help other companies bridge the gap between business and technology, whether it is through consulting services or platforms. The company faced its most significant challenge in clearly articulating its purpose, methodologies, and the distinctive aspects of its approach that set it apart from other enterprises offering similar products. Having clear, measurable, and meaningful goals that could be understood by an organization and reflected at the individual level is Ana’s leadership philosophy. Moreover, measuring them through the performance review exercise and constant feedback is the way to ensure that these goals get reflected throughout the organization. Consultancy to a Technological Platform According to Ana, the fundamental distinction is not technology per se, but rather the comprehension of the issue, the approach, the strategy, and the team developing the solution. A key component in helping customers to make seamless experiences through technology is to understand the way of solving their problems which may create friction. Henceforth, Rhisco finds the solution to mitigate the friction in the process of solving customers’ problems. To take Rhisco one step ahead, its team is going to do these things: a) Go to other industries. b) Go to other geographies with a keen focus on Central and South America. At Rhisco, the team comprises specialists dedicated to the delivery of complex risk management and capital optimization projects. The company offers a range of services and technology solutions in the areas of risk, governance, control, and capital management. Rhisco has a track record of collaborating with some of the world’s largest banks and insurers, aiding them in achieving strategic transformations and navigating the challenges of an evolving global regulatory landscape. The mission of the company is to collaborate closely with clients, utilizing both cutting-edge and proven technologies, along with their expertise, to create tailored solutions addressing specific risk and capital requirements. This, coupled with a personalized approach and meticulous attention to detail, positions Rhisco as a trusted advisor to its clients. Rhisco faced challenges in its initial days when it shifted from being only a consultancy to a technological platform company. It was a difficult transition both internally and externally. The point that triggered the growth of the company was when its process got streamlined, mainly seeking and hiring talent, and dividing its platform resources from consultancy business. It gained the trust of clients by solving their true problems. Moreover, the company understands that customer service is of paramount importance. | February 2024 14

15. Cover Story There are two main units in which Rhisco specializes in: a) Platforms: With the help of its various platforms, the company provides technological solutions to regulatory reporting and loan and different risk provision calculations. b) Solutions hub: Its ad-hoc solutions to clients with a team of functional, integration, and development roles generating turn-key products. Rhisco entered a competitive market for regulatory reporting and loan provisions calculations but differentiated itself by Recognizing common challenges in these areas Incorporating effective features into its platform, improving operational efciency Translating this into cost savings, and increasing revenue Consistently delivering excellent customer service www.theenterpriseworld.com | 15

16. The Team LUIS AGUIRRE Chief Executive Ofcer FERNANDO BOYOLI Chief Technology Ofcer | February 2024 16

17. Cover Story MARTHA DIEZ Chief Operations Ofcer MARTA MARGOL Product Head LIZ MARVAN Co-founder & Chief Growth Ofcer www.theenterpriseworld.com | 17

18. Executing Exercises with Potential Customers Experts from diverse Backgrounds Rhisco aims to comprehend whether certain features need streamlining or if there are features that provide very low value to customers. To mitigate potential risks, Rhisco supports its decision-making data to understand that data is not perfect. Henceforth, the company analyzes and understands what data tells by communicating with customers. Some players in the market or potential customers can deliver a better understanding of what are the risks in the process and provide a specific plan to deal with them. The company incorporates reviews along the road and understands the situation transformation that it has to be able to reassess, restate the risks, and modify the mitigation actions accordingly. Despite initial competition and a seemingly saturated market, Rhisco’s innovative approach has gained traction. Primarily by fostering innovation and allocating resources to research and development (R&D), it has been acknowledged that companies can risk obsolescence unless they embed a distinct commitment to R&D in their core identity. Loan provisions calculation, a useful thing for the platform has contributed to the success of Rhisco. The company performed the following main things to step ahead in the market: At Rhisco, the interdisciplinary team is comprised of experienced professionals from diverse backgrounds operating across multiple countries. They share a passion for challenges and technology. Working collectively, they design innovative solutions, pushing boundaries to creatively mitigate potential risks and drive business growth. The team’s collective strengths lie in its capacities, extensive experience, and shared enthusiasm. a) It collaborates with the product director and commercial team to align marketing efforts, ensuring a compelling message that emphasizes why the platform is the best in its class. Ÿ Significant Specialization in Solving Issues b) It supports the motto by executing an exercise with potential customers to use the platform before buying it. Ÿ To generate efficient processes and reduce regulatory risk, it is essential to systematize the integration of regulatory reports. Additionally, having regulatory and business validations is crucial to provide certainty regarding the data used and ensure consistency between reports before delivering them to the authority. Rhisco offers the technological solution and its team of experts helps clients to successfully implement regulatory transformations, bringing relevant resources, experience, and support to the end of the processes on the table. c) It coordinates the implementation and support teams to make sure that customers have a drive in a real- life environment and have a preview of its great customer service. Ÿ d) It monitors the application of platforms, considering scenarios both with and without support from the implementation team. The platform analyzes the data it gathers to identify specific features or areas where users spend time and the extent of their engagement. Ÿ Rhisco supports companies operating in highly regulated sectors and highly competitive markets, including top-tier international and domestic companies, financial and non-financial, niche companies, and tech service companies. The company solves strategic issues for clients that require significant specialization and results with little margin for error. | February 2024 18

19. Cover Story SIGNIFICANT SPECIALIZATION IN SOLVING ISSUES With the certainty that the information is consistent with transparent validations Guaranteeing the traceabilit and security of data, until the integration of reports Preventing Large Fines Gaining autonomy & control over the reporting process RHISCO COVERS Save time with scalable and exible technology Sustaining a more efcient and compliance dynamic Re-processing historically when it is required Always guaranteeing formats and content are in force www.theenterpriseworld.com | 19

20. Rhisco offers advice and specialized independent reviews where its delivery integrates expert criteria and balanced professional ethics with a business sense. The company generates the greatest value for clients by identifying for them the elements that they must implement or mature, the businesses they can obtain, and the increase in efficiency that is within reach. It designs realistic routes for companies to advance in their level of maturity. Customers are free to challenge the company’s approach to solve strategic problems innovatively and generate profitability for their company. Designing Realistic Routes Designed and created by Rhisco, Tegra® is a technological platform for quantitative analysis and dynamic management of business rules applied to data. Focused on profitability and risk management, regulatory reporting, and business and financial reporting, Tegra® solves challenges for entities that require: Ana O Ramírez Chair of the Board of Directors Rhisco To perform several analyses on the same set of data, applying different rules for each analysis. To ensure the consistency of the information used in the various analyses through business and regulatory validations, obtaining certainty in the information. To have transparency in the transformations and enrichments of information carried out from the origin to the output. To demonstrate traceability in the analytical process, in the users participating in the process, and in the inputs used for the different outputs. To achieve autonomy from Rhisco and the internal technology area regarding control over the business process, with information security and access control standards. To have the flexibility and scalability to evolve the use of the platform to new analyses and improve its performance, without limitations due to the volume, frequency, and complexity of the information. Ÿ Ÿ Ÿ Ÿ Ÿ Ÿ | February 2024 20

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24. E B O E The Sporting Capital of Australia A city where the streets hum with the rhythm of life, where every corner holds a story waiting to be discovered, where the symphony of sights and sounds awaken your senses - Melbourne. Located at the head of Port Philip Bay, Melbourne is the capital city of Victoria, Australia. It is known to be the sporting capital as well, because of its craze for sports and hosting renowned sports events. The city has a population of over 5 million and has been home to Aboriginal Victorians for over 40 thousand years. It is also an important meeting place for local Kulin nation clans, Wurundjeri, Boonerwrung, Taungurong, Djajawurrung, and the Wathaurung, and is the second most populous city in Australia. | February 2024 24

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26. #Get to Know The Climate of Melbourne | February 2024 26

27. The people of Melbourne refer to the city's climate as ‘four seasons in a day’. Though it might be an exaggeration but the city does experience unpredictable weather because of its geography. It is wedged between southern arctic inuences and northern desert winds. Hence, it can go from cloudy to rainy to chilly in a single day. Tough, it might not be on an everyday basis. The city does experience stable, typical weather for the time of the year, with the occasional sudden shift. If you want to experience the city in any month, make sure to carry layers of clothes with you. Summertime is between December to February and can get extremely hot. March to May months witness the Fall season that illuminates the city and trees get adorned in golden foliage. The months of June to August are dreary and cold winter season but it rarely snows there. September to November is the spring season when the ower starts to bloom in the city. Time to Travel Best The best time to see the metropolitan city of Melbourne is between March to May and September to November when the city is covered with vibrant hues of color and decent temperature. If you want to enjoy the beaches that are close to the city, December to February can be the ideal months. www.theenterpriseworld.com | 27

28. How Melbourne came to be - Know It’s History Melbourne was founded in 1835, on the Yarra River after an abortive bid in 1803 to establish a settlement inside the Port Phillip Bay heads near Sorrento. It respectfully acknowledges that it is located in the traditional land of the Kulin Nation and has been an important place and location for meetings and events. The city grew and became a bustling hub of trade and commerce fueled by the gold rush of the 1850s, which contributed to its growth in population. People from all corners of the globe came to Melbourne in search of fortune, and with this wealth came culture too. The streets filled with buildings, theaters, and galleries. In the 1890s, it saw economic downturns and labor strikes, as the workers fought for fair wages and better conditions. World War I and the Great Depression brought hardship and sacrifice over the city. Yet, it endured and reinvented itself. After the war, the coming years saw a wave of immigration and made the city the diverse and multicultural metropolis it is known as today. Exploring Melbourne Culture Melbourne is a multicultural city that is named as the Cultural Capital of Australia by its inhabitants. After its establishment in 1835, it has been influenced by European culture, particularly that of the British Isles. The immigration of Chinese and American people at the time of the Gold Rush also influenced its culture. Melbourne is always lively with numerous events and festivals happening throughout the year, especially sports events as it is the sporting capital of Australia. It represents over 140 cultures and is known for its restaurant culture. It is said to be one of the best livable cities but it is not for early risers as they embrace having brunch a lot. | February 2024 28

29. Here are some ways you can explore the Melbourne culture more. Federation Square - Located in the heart of the city, It is a unique and dynamic public space that hosts several festivals and events. You can also enjoy various other cultural spaces and cafes that are nearby. National Gallery of Victoria - It is renowned to be the most visited gallery in the country and holds an extraordinary collection of artworks. These artworks range from indigenous and non-western art to contemporary pieces and major European classics. Cafe and coffee culture - Melbourne is a paradise if you are a coffee lover. Having coffee is not just a part of their breakfast or snack but a lifestyle. They take their coffee brewing seriously as every barista hones the skill of coffee making. They're custodians of flavor and connoisseurs of coffee art. You will find delicious coffee in every cafe you enter. Markets and local shops - There are various markets and shops that you can visit and explore to learn about their culture and collect traditional souvenirs. Some of them are Queen Victoria Market for street food, Prahran Market for fresh produce, St Kilda Foreshore Market on Sundays for souvenirs, and Camberwell Sunday Market. Melbourne Cricket Ground - It is a huge stadium in the center of Melbourne that holds various sports events. You can grab a guided tour of the Melbourne Cricket Ground. You can also grab the tickets for the Australian Football League that is held on this ground. Attend free festivals - Melbourne hosts several festivals and events throughout the year. These festivals range from food festivals to cultural festivals. You can attend these to know the multi-culture of Melbourne. Museums - Want to know the diverse history of Melbourne? You can go to museums like the Melbourne Museum, Immigration Museum, and Bunjilaka Aboriginal Cultural Centre. www.theenterpriseworld.com | 29

30. A Foodies Paradise! E B O E ’ MULTICULTURAL CUISINE Melbourne doesn't have any specic cuisine as the city has a diverse culture because of immigration from multiple ethnicities from Asia, China, Europe, and America. Hence it is a food lover’s perfect destination to tame their taste buds with its wide range of avours. | February 2024 30

31. Here are some of the dishes you must try. Salt and pepper calamari - It is the Australian take on the traditional calamari from Cantonese cuisine. It is deep fried then coated with salt and pepper and dunked in sweet and spicy sauce. It is mostly served with a salad. Anzac biscuit - It was originally known as ‘soldier’s biscuit’ or ‘Anzac tile’ because it was the favorite of traveling sailors and soldiers. The modern biscuit is made of oats, flour, coconut, butter, golden syrup, and baking soda which gives it a fluffy, light texture and a sweet taste. S Pigs in a blanket - It is made with sausage and is served as a side dish or appetizer. To give it a savory flavor, a cocktail frankfurter wrapped in bacon is used. Occasionally, cheese is also stuffed to enhance the flavor. Pie floater - In this dish Pea soup with meat, a long- standing recipe in English culinary history, is combined with a traditional Australian-style meat pie for a unique dish. Chicken Parma - It has Italian origins but is commonly found in Melbourne restaurants and bars. To give it an Australian twist, some recipes include ham or prosciutto with complementary flavors. www.theenterpriseworld.com | 31

32. Mark These Off from Your Melbourne Bucket List Take a Street Art Tour Enjoy Nightlife Melbourn’s streets are filled with amazing art done by local artists and attract other artists to immerse in the beauty of it as well. There are free as well as fee-based tours that you can opt for. The perfect place to enjoy Melbourne's wild nightlife is St. Kilda. The area is home to tons of inexpensive restaurants, bars, and clubs and you will get to immerse in the rich taste of mouthwatering food and hang out with fellow travelers and locals. Visit the State Library of Victoria Take a Day Trip to Phillip Island It is a historic institution that welcomes over eight million visitors a year. It has a central rotunda in octagonal shape, original dark wood furniture, and book-lined walls which it is famous for and you shouldn't miss it. Renowned for its nightly penguin parade, Philip Island is located two hours from the city. It also has a koala sanctuary and a huge seal colony that live offshores. It houses around seven thousand people and has unique wildlife, caves, and secluded beaches to explore. Find The Perfect Stay for You The Royal Botanic Gardens The garden covers 86 acres of land and is home to over 8,500 plant species from across the county and around the world. You can also catch a moonlight movie in summer here where you can bring your own food and drinks and have a cozy picnic. Melbourne offers a wide range of comfortable stays for you, ranging from budget-friendly to luxury with a great view of the city and beautiful architecture. Here are a few recommendations. Como House and Gardens ibis Melbourne Central, central business district Ovolo Laneways, central business district Le Méridien, central business district The Nunnery, Fitzroy and Collingwood Comfort Apartments Royal Gardens, Fitzroy and Collingwood Tyrian Serviced Apartments, Fitzroy and Collingwood Essence Hotel, Carlton Best Western Travel Plus Inn, Carlton Lanbruk Richmond Hill, Richmond The Crofts, Richmond Ÿ Ÿ Ÿ Ÿ Ÿ It is considered as one of the best historic houses in the city and the building is over 160 years old. It blends a mix of classic Italianate architecture and Australian regency. By taking a tour of this estate, you get a rare glimpse of the luxurious and opulent life of high society in 19th-century Australia. Though, the tour charges a small fee. Ÿ Visit The Beaches There are plenty of beaches near Melbourne that you can go to relax, surf, and do various water activities. Some of these iconic and beautiful beaches that you shouldn't miss are St. Kilda Beach, Brighton Beach, and Williamstown Beach. Ÿ Ÿ Ÿ Ÿ | February 2024 32

33. Know These Before You Plan Your Trip You can opt for a Myki card or free trams instead d of cabs if you are on a long week trip to Melbourne. However, to have a Myki card, you have to pay a small fee. Festivals and events happen every month. While it's good to explore them, hotels might be full so plan your trip around wisely and know where to stay in advance. Two airports service the city - Melbourne International Airport and Avalon Airport. Melbourne International Airport is closest to the city while Avalon Airport is near Geelong and takes over an hour to reach the city. So while booking make sure to choose Melbourne International Airport. Known to be the sports and culture capital of Australia, a week- long vacation to the city of Melbourne won't disappoint. Make this your next holiday destination and enjoy the diverse culture, food, and sip of amazing coffee! NE www.theenterpriseworld.com | 33

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36. I nvesting is not everyone’s cup of tea, and there have been far less successful stories. Naturally, when it comes to investing, you can’t help but draw inspiration from Michael Burry. Just a young boy, trying out his hand in investing while in medical school, Michael Burry caught the spotlight, where his name even reached highly regarded companies like Vanguard. Michael Burry then went on to short the housing market, where he made roughly a $100 million. He was also one of the main characters in an Oscar-winning movie – The Big Short. Now, if you have seen the movie, you must have wondered what it would take to invest like ‘the’ Michael Burry. While it may not be as easy as it seems, let us take a look at his portfolio and his unique approach to investing. Where is Michael Burry Investing? 5. Alibaba Group Holding Limited (NYSE:BABA) Scion Capital’s Q3 2023 Investment: $4.3 million Alibaba Group Holding Limited (NYSE:BABA) is a big online seller and tech company worldwide. It's rated Strong Buy and analysts think its share price could go up by $57, aiming for an average share price target of $140. In June 2023, out of 910 hedge funds, 112 owned shares of Alibaba Group Holding Limited (NYSE:BABA). The largest of these was David Tepper’s Appaloosa Management LP, with a significant investment worth $372 million. 4. Booking Holdings Inc. (NASDAQ:BKNG) Scion Capital’s Q3 2023 Investment: $4.6 million Booking Holdings Inc. (NASDAQ:BKNG) is a company that provides travel services. It's interesting to note that Michael Burry had a $4.6 million investment in the company as of September 2023, but he also had put options worth $7.7 million. This suggests that Burry might be anticipating a drop in the stock price and has taken steps to protect his investments. Alongside Alibaba and JD, Booking Holdings Inc. was a new addition to Scion’s investment portfolio in Q3. In Q2 2023, 78 out of 910 hedge funds had invested in Booking Holdings Inc. (NASDAQ:BKNG). The largest shareholder at that time was Arrowstreet Capital, led by Peter Rathjens, Bruce Clarke, and John Campbell. They owned 511,104 shares valued at $1.3 billion. | February 2024 36

37. 3. Star Bulk Carriers Corp. (NASDAQ:SBLK) Scion Capital’s Q3 2023 Investment: $4.8 million Star Bulk Carriers Corp. (NASDAQ:SBLK) is a Greek company that ships dry bulk cargo. Its success is tied to a strong global economy, and analysts think its shares are a Strong Buy on average, with an average price target of $23.97. In the June quarter of 2023, portfolios of 910 hedge funds were analyzed, revealing that 15 had purchased shares of Star Bulk Carriers Corp. (NASDAQ:SBLK). Howard Marks’ Oaktree Capital Management emerged as the largest investor among them, with shares valued at $461 million. 2. Nexstar Media Group, Inc. (NASDAQ:NXST) Scion Capital’s Q3 2023 Investment: $6.9 million Nexstar Media Group, Inc. (NASDAQ:NXST) is an American company that focuses on television and broadcasting. Dr. Burry had a significant increase in his investment in the company during the third quarter, boosting his holdings by 225%, which was one of the largest jumps seen. Additionally, analysts rate the company's shares as a Strong Buy, with an expected average price increase of around $55. As of the end of the June quarter in 2023, 30 out of 910 hedge funds were investors in Nexstar Media Group, Inc. The largest hedge fund shareholder at that time was Amy Minella’s Cardinal Capital, with holdings valued at $129 million. 1. Stellantis N.V. (NYSE:STLA) Scion Capital’s Q3 2023 Investment: $7.6 million Stellantis N.V. (NYSE:STLA) is among the largest car makers globally. Currently, the company is addressing the aftermath of significant union strikes in the United States. To manage this, it's offering buyout options to workers, aiming to create financial room for producing electric vehicles while also honoring union agreements. In the second quarter of 2023, 27 out of 910 hedge funds had investments in Stellantis N.V. (NYSE:STLA). The largest stake among these was held by Arrowstreet Capital, led by Peter Rathjens, Bruce Clarke, and John Campbell, valued at $420 million. www.theenterpriseworld.com | 37

38. The Investment Approach of Michael Burry MICHAEL BURRY'S TOP Michael Burry, a value investor, follows the principles outlined in the book Security Analysis by Benjamin Graham and David Dodd. He focuses on a key idea called the "margin of safety." This means he looks for companies whose stock price is lower than what they're actually worth. Burry believes that investing in such companies is safe because their stock prices are likely to increase over time to match their true value. 50 INVESTMENTS Many investors use a value investing strategy, but Burry has some unique methods that set him apart and contribute to his success. Here's what makes his approach different: He searches for value everywhere, saying, "If I see value in it, it's a potential portfolio candidate.” His most famous investment wasn't a stock, but credit default swaps that he used to bet against the housing market. He makes decisions based on his own analysis, not influenced by others or market emotions. Burry is willing to take a different stance from the crowd and relies on his own research. He often invests in unpopular sectors, believing it's a chance to buy strong companies during times of irrational selling. Burry is known for being selective in his investments. At the close of 2022, Scion Asset Management held only nine stocks, reflecting Burry's preference for quality over quantity. He opts for stocks that offer good value and a margin of safety, rather than spreading his investments across numerous companies. This approach contrasts with the strategy of investing in many companies with the hope that a few will yield significant returns, as Burry aims to make each investment count. | February 2024 38

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42. THE THE NEW NEW YORK YORK TIMES TIMES THE NEW YORK TIMES | February 2024 42

43. The Unseen Thread: How The New York Times Connects Us to the World Apart from charging my phone, the rst thing I do is make black tea and read the headlines of The New York Times. Most of the time, I don’t have any idea about what to do with my life but yes, I want to know what is happening around the world. I nd it one of the popular and trustworthy sources of information acting as a watchdog and holding governments, institutions, and individuals accountable. It plays a crucial part in shaping public opinion and due to this, I can debate with my colleagues about controversial topics in the world. Instead of going online and searching the speciality of my region, I can read about it in The New York Times. Here, you can read about the newspaper and understand what journey it has made to reach to our hands in every morning. The New York Times Through the Ages Often called the "Gray Lady," The New York Times (NYT) has been a prominent newspaper since it was founded in 1851. Started by Henry J. Raymond and George Jones, the paper aimed to provide readers with reliable news and information. In its early years, it focused on reporting signicant events, including the Civil War. Over time, it became known for its commitment to journalistic integrity and high editorial standards. It played a crucial role in shaping public opinion and has won numerous Pulitzer Prizes for its outstanding journalism. In the digital age, NYT transitioned to online platforms, offering news through its website and mobile apps. It covers a wide range of topics, from politics and culture to science and sports, making it a go-to source for news enthusiasts worldwide. Despite facing challenges and controversies, The New York Times continues to be a respected institution, providing valuable insights and information to readers, and making it a vital part of the global media landscape. www.theenterpriseworld.com | 43

44. TheNewYorkTimes’s ContributiontoJournalism Civil War Coverage: The NYT Began its journey during the Civil War, providing readers with reliable coverage of the conict. it set the stage for the newspaper's dedication to inforing the public. Pulitzer Prizes: The NYT has been awarded numerous Pulitzer Prizes, showcasing its excellence in journalism. They recognize its outstanding reporting, Photography, and editorial commentary. Watergate Scandal: The NYT played a crucial role in exposing the Watergate scandal, contributing to the downfall of President Richard Nixon. It the power of the press in holding those in power accountable Digital Transition: The NYT successfully transitioned to online platforms, expanding its global reach. Its website and mobile apps now provide timely and diverse news coverage. Pentagon Papers: The publication of the Pentagon Papers, a top-secret government report on the Vietnam War, showcased The New York Times' commitment to transparency and the public's right to know. | February 2024 44

45. The New York Times' historical milestones reect its enduring commitment to journalistic excellence, contributing signicantly to shaping the standards and practices of modern journalism. www.theenterpriseworld.com | 45

46. Fact-Checking and Verication: The NYT places a strong emphasis on rigorous fact-checking processes to ensure the accuracy of information before publication. This commitment to veriable reporting reinforces its credibility. E Impartiality and Objectivity: The newspaper strives to present news stories in an unbiased manner, separating news reporting from opinion pieces. This dedication to objectivity sets a standard for fair and balanced journalism. The New York Times (NYT), renowned for its editorial standards, has signicantly inuenced the global media landscape. Its commitment to journalistic integrity, accuracy, and impartiality sets the bar for newspapers worldwide. The following aspects highlight the editorial policies that have shaped its inuence: Editorial Independence: The NYT maintains editorial independence, resisting undue inuence from external forces. This commitment allows the newspaper to act as a watchdog and hold those in power accountable. ditorial Policies | February 2024 46

47. Inuence on Other Newspapers The editorial policies of The New York Times serve as a benchmark, influencing other newspapers globally. Media outlets often look to emulate its commitment to accuracy, impartiality, and investigative journalism, seeking to build trust with their audiences. Through these controversies, The New York Times engages in ongoing self-reflection, adapting its editorial policies to address evolving challenges and maintain its commitment to journalistic excellence. As a media trailblazer, it continues to shape the editorial landscape and contribute to the broader discourse on media ethics and responsibility. www.theenterpriseworld.com | 47

48. The New York Times (NYT) has maintained an active and engaging presence across various social media platforms through strategic campaigns. Notable among these is the #NYTReadalong initiative on Twitter, where readers are encouraged to share their thoughts and favorite articles, fostering a sense of community engagement. Additionally, the NYT's participation in the #COVID19FrontLine campaign showcased its commitment to frontline workers during the pandemic, emphasizing the importance of reliable news. On Instagram, the #NYTPhotoChallenge allows followers to share their visual interpretations of current events, creating an interactive space for artistic expression. The newspaper's Facebook Live sessions, including "The New York Times Book Club," provide an opportunity for real-time discussions with authors and journalists, fostering a dynamic online community. Through these diverse social media campaigns, The New York Times not only disseminates news but also actively involves its audience in meaningful conversations, solidifying its digital presence and adapting to the evolving landscape of news consumption. | February 2024 48

49. 1. Digital Transformation Challenges: Challenge: With the rise of digital media, The New York Times faced the challenge of adapting to an online landscape and monetizing digital content effectively. Response: The Times implemented a digital subscription model, requiring readers to pay for online access. This move proved successful, contributing signicantly to the newspaper's revenue and allowing it to invest in quality journalism. 2. Criticism of Bias: Challenge: The newspaper often faced criticism for perceived political bias in its reporting, raising concerns about journalistic objectivity. Response: The New York Times acknowledged the need for impartiality and instituted measures to ensure balanced reporting. It invested in diverse newsrooms and editorial practices to present a more comprehensive and fair perspective. 3. Competition in the Digital Age: Challenge: The proliferation of online news sources led to increased competition, challenging The New York Times to stand out in a crowded digital space. Response: The Times focused on high-quality journalism, investigative reporting, and in-depth analysis to differentiate itself. Continuous innovation, multimedia storytelling, and interactive features enhanced the reader experience. 4. Press Freedom and Security Concerns: Challenge: Operating in a world facing increasing threats to press freedom and journalists' security, The New York Times had to navigate these challenges. Response: The newspaper prioritized the safety of its journalists, investing in security measures and protocols. It also continued to champion press freedom, advocating for the protection of journalists worldwide. www.theenterpriseworld.com | 49

50. 5. Trust and Credibility Issues: Challenge: Trust in media became a global concern, and The New York Times faced challenges in maintaining its reputation and credibility. Response: The Times doubled down on transparency, fact- checking, and correction policies. It engaged with its audience through ombudsman columns, reader feedback mechanisms, and public editor positions to address concerns directly. In navigating these challenges and responding effectively, The New York Times has not only sustained its legacy but also emerged as a digital powerhouse. By embracing change, prioritizing journalistic integrity, and adapting to evolving reader preferences, the newspaper continues to drive growth and maintain its position as a leading global media outlet. Conclusion The New York Times has played a signicant role in shaping the trajectory of journalism, standing as a beacon for high-quality, investigative reporting. Its rich history reects a commitment to journalistic integrity and adapting to technological changes. The lessons from its legacy include navigating challenges, upholding truth, and illustrating the transformative power of a free press. The newspaper's enduring impact underscores the importance of responsible journalism, providing valuable insights for aspiring journalists and media organizations aiming to inform and enlighten society. | February 2024 50