Lessons from Silicon Valley Bank

In his latest memo, Howard Marks addresses the much-asked question, “Is there a bubble in AI?” He identifies the uncertainty associated with AI investments and the conspicuous parallels to previous bubbles, while also acknowledging why those comparisons could be inappropriate. Gi ... Show More

In his latest memo, Howard Marks examines the recent string of well-publicized credit problems. He considers how they serve as a reminder that the yield premium offered by sub-investment grade credit isn’t a freebie, but rather compensation for bearing credit risk. While good tim ... Show More

In his latest memo, Howard Marks offers observations based on his meeting with the board, consultant, and senior staff of a state pension fund. Howard explores the key topics covered during the session, including determining an appropriate risk posture, selecting an investment ap ... Show More

<p>On 7th March, Silicon Valley Bank tweeted, “Proud to be on @Forbes’ annual ranking of America’s Best Banks…”</p> <p>By 10th March, SVB’s stock price had tanked by 60% and the bank was taken over by an arm of the US government.</p> <p>What on earth happened?</p> <p>In today’s e ... Show More

Since the failure of Silicon Valley Bank, investors are closely watching how stress in the financial sector is spreading through markets and the economy. With First Republic Bank and Credit Suisse making headlines, policymakers are examining what they can do to steady markets and ... Show More

Torsten Slok had been firmly in the “no landing” camp of economists. More positive than a “soft landing,” its adherents say the Federal Reserve will tame inflation without triggering a recession at all. But for Slok, chief economist of Apollo Global Management, that all changed w ... Show More

Silicon Valley bank collapsed at record speed. And the world is still trying to figure out what went wrong? How did a bank with a strong history, a strong brand, and a fairly conservative investment portfolio go belly up so fast? On this episode of the podcast, we speak with Dan ... Show More

<p>With federal regulators planning to take over the collapsed Silicon Valley Bank, a 40-year-old institution based in California, nearly $175 billion in customer deposits will be placed under the authorities’ control.</p><p>The lender’s demise is the second-largest bank failure ... Show More

Silicon Valley Bank collapsed on Friday — the second-largest bank failure in our nation’s history. In today’s special episode, Scott and Ed break down what happened, how it happened, and what might happen next. Scott also addresses government bailouts, the consolidation of bankin ... Show More

When Silicon Valley Bank imploded, there was a lot of talk about the future of regional and community banks in the United States. Can they compete with the large, too-big-to-fail institutions? What will happen to their deposits and their cost of capital? But actually the challeng ... Show More

The big headlines from March's banking crisis have receded and balances at some of the Federal Reserve's emergency lending facilities, like the discount window, are starting to fall. But if you look closely, there are still signs of strain in the depths of the financial system. A ... Show More

<p>Credit Suisse… Silicon Valley Bank… Signature Bank… First Republic… After weeks of breaking headlines about banks in crisis, we are taking a big picture look at the sector with the FT’s chief economics commentator, Martin Wolf. In this episode, he explains why banks fail, and ... Show More