Seth Levine | TalkMarkets | Page 1
High Yield Credit Analyst
Contributor's Links: Integrating Investor
I am a professional institutional investor and creator of The Integrating Investor. My career has spanned both the sell-side and buy-side, with the vast majority of it as an analyst in the corporate bond market – though I did “cut my teeth” in equity research. While ...more

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Today’s Yield Curve Steepening Is Not Different This Time, It’s Not The Same
Investment volatility remained elevated this year. One can point to any number of culprits.
Treat Alternatives Like Cuisines, Not Distinct Assets
Investments in alternative assets (alternatives) have grown tremendously over the past decade. Drawn to their professed portfolio benefits, investors have reallocated capital from more traditional assets, like public equities and bonds, etc.
Logically Defining Money Makes Cents
Money might be the most misunderstood topic in finance. Everyone knows exactly what it is, yet definitions greatly vary.
The Similarities & Differences Between Today & The GFC
The concrete causes and potential effects of bank stress today are quite different from the GFC’s. They share only broad, systemic commonalities often omitted from discussions.
Hunting For Unknown Liabilities, Not Asset Risks
The recent wave of bank failures returned asset liability management to the spotlight. Many correctly identified ALM breakdowns as causing their ultimate demises.
Silicon Valley Bank’s Failure Highlights Systemically Combustible Conditions
The failure of Silicon Valley Bank has brought questions of systemic risk to the forefront. SVB was the third regional bank to fail this month (along with Signature Bank and Silvergate Bank, collectively referred to as the “S Banks”).
The Fed’s Got Inflation Backwards
Central banks have played evolving roles in economies and markets. While first employed as government funding schemes, they now play macroeconomic policy roles. Most famously, central banks seek to control inflation with monetary policy.
Inflation No Longer Has Monetary Applications
Many now question whether today’s inflation is monetarily driven or not. Ultimately, these disputes stem from inflation’s different meanings. It’s no wonder inflation confounds so many.
Why I’m Waiting For The Fed To Pivot
So far, my 2023 investing looks just like 2022: lots of waiting. I’m waiting for just one thing before I increase my risk exposures. I’m waiting for the Federal Reserve (Fed) to stop raising interests. I’m waiting for a Fed Pivot.
Why Commodity Currencies Are Better Than Fiat And Crypto
Acceptance risk explains why commodity currencies fare better than fiat currencies or pure credit systems. Commodities must be physically produced and have graspable, if not directly observable market values.
Saving Speculation To Improve Investment Returns
Many investors try to differentiate between investing and speculating. They see the former as a win-win activity where the investor prospers alongside their investment target.
Rediscovering Money’s Factual Definition
Definitions play a critical role in human cognition. They form the bedrock of knowledge. To no surprise, rediscovering money and logically (re)defining it has significantly furthered my own grasp of economics and investing.
No, Fed: Supply Construction, Not Demand Destruction
Few realize that the Fed’s errors stem from a poorly constructed view of money that is shared, even by its critics. This perspective leads to absurd conclusions like the Fed must destroy demand in order to combat today’s rising prices. Wait, what?!
Pondering Investment Themes After The Russian Invasion
So much for returning to normal. I had hoped that easing COVID restrictions would supercharge economic growth this year.
Rising Rates And Volatility Might Create Future Opportunities
Catching inflection points is the holy grail of trading. It’s what makes investing lore.
How Gold Lost Its Inflation Luster
How can gold be disconnected from inflation? Why is our modern experience so different than the historical one?
1 to 16 of 39 Posts