Trust in elected officials has been in steady decline for decades. One reason is Americans feel the game is rigged against them. It’s hard to decide if members of Congress and other elected officials are self-serving or civil servants.
The envisioned benefits of ESG investing—owning companies that follow responsible environmental, social, and governance policies—have failed to materialize.
If you listen to the financial media, you’d think seven stocks are responsible for “the market’s” gain this year. But the charts are telling us otherwise.
AI Is an Unstoppable Disruptive Trend That Will Affect All of Us
The release of ChatGPT late last year triggered a firestorm of debate about both the promise and dystopian risks of artificial intelligence (AI). Some have labeled it the Great AI Freak Out of 2023.
We are finally hearing a resolution may be in sight for the debt ceiling, though I suspect this will drag out to Monday or even Tuesday. Why waste a good crisis, after all?
Do the days and weeks seem shorter to you lately? Maybe that’s an unkind feature of getting older. I have so much more I want to learn and understand, and not enough time to process it all.
A stress test is exactly that: a test. It is a mix of assumptions about adverse events and their theoretical outcomes. Ironically, the Fed released its 2023 bank stress test scenarios just weeks before the latest banking crisis erupted.
Up until February, you would have done well to be overweight banks. “Banks do well in a rising interest rate environment” was the simple thesis. And that’s true if the banks have competent risk management.
My guest this week, Barry Habib of MBS Highway, breaks down in detail where SVB got it wrong and how mortgage-backed securities worked against the bank.
