The Meb Faber Show
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The Parallels of Past and Present in Finance - Mark Higgins | #594
Today’s guest is Mark Higgins, a Senior VP for IFA Institutional, where he specializes in providing advisory services to institutions. He’s also the author of Investing in U.S. Financial History: Understanding the Past to Forecast the Future, which is one of my favorite books on financial history. In today’s episode, Mark explores the parallels between historical financial crises and today’s economic landscape. He touches on the disturbing trends in private markets, the ethics of asset management, the evolution of U.S. debt, the future of the U.S. dollar, and more.
Key Points
- Insider trading laws have historically been lax and continue to be a significant issue today, especially among politicians.
- US debt levels are historically high and unsustainable, posing a medium-term risk that could limit the country's ability to respond to future crises.
- The allure of alternative asset classes like private equity and venture capital often leads to high fees and questionable practices, making them potentially detrimental for retail investors.
Chapters
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Transcript
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