I am convinced that banking crises are a party perennial.

We'll never eliminate bank crisis risk unless we eliminate banks.

When we see a bank increasing its deposits and investments by 400% in a period of five years,

that's what Silicon Valley Bank did. That's a reliable leading indicator to my mind of a

likely non-viable business model. Silicon Valley Bank didn't know

what to do with all this money. It didn't know where to park its liquidity. And that

was a warning sign. An interesting issue that we will learn more about with the passage

of time is why the regulators didn't make more of a fuss about

those kind of problems.

Imagine spending an hour with the world's greatest traders.

Imagine learning from their experiences, their successes, and their failures.

Imagine no more. Welcome to Top Traders Unplugged, the place where you can learn from the best hedge fund managers in the world,

so you can take your manager due diligence or investment career to the next level. Before we begin today's

conversation, remember to keep two things in mind. All the discussion we'll have about investment

performance is about the past, and past performance does not guarantee or even infer anything

about future performance. Also understand that there's a significant risk of financial loss with

all investment strategies, and you need to request and understand the specific risks from

the investment manager about their product

before you make investment decisions.

Here's your host, veteran hedge fund manager, Niels Kostrup Larson.

Welcome and welcome back to another conversation in our series of episodes that focuses on markets and investing from a global macro perspective.

This is a series that I not only find incredibly interesting as well as intellectually challenging, but also very important given where we are in the global economy and the geopolitical cycle.

...