Jamie Dimon, Chairman and CEO of JPMorgan Chase, is considered the best financial executive in the country and recently weighed in on the banking system’s recent turmoil. He believes that simply satisfying regulatory requirements is not sufficient in managing risks, which requires constant and vigilant scrutiny as the world evolves.
He also points out that most of the risks in the U.S. banking system were hiding in plain sight and that recent changes in regulatory requirements would not have made a difference in what followed. Bill Wilby is a retired professional money manager with a Ph.D. in International Monetary Economics who will discuss the problems with U.S. Treasuries and why financials are uninvestable.
Listen to the audio-only version here:
Explore This Episode
We have compiled additional information and content related to this episode.
WILLIAM WILBY
- Former Portfolio Manager, Oppenheimer Global Fund
ACTION POINT
DIVERSIFY YOUR SHORT-TERM FINANCIAL HOLDINGS
- Make sure cash deposits covered by FDIC insurance
- Legal limits: $250,000 per account, per institution
Own safe liquid assets:
- US Treasury bills
- Buy commission-free at Treasurydirect.gov
- Short-term Inflation-Protected Securities (TIPS)
- Under 5-year maturities available through a broker
- 5-year maturities or longer for sale at Treasurydirect.gov
- Short-term Inflation-Protected Securities. Morningstar’s
- Christine Benz recommended Vanguard Short-Term Inflation-Protected Securities Index Adm (VTAPX)
BOOKSHELF
ONE INVESTMENT
GLOBAL SEMICONDUCTOR CHIP MONOPOLY
Buy: ASML Holding NV (ASML)
STOCK MENTIONS
AECOM (ACM)
Jacobs Solutions Inc (J)
Fluor Corp (FLR)
Boeing Co (BA)
Microsoft Corp (MSFT)
Alphabet Inc Class A (GOOGL)
Applied Material, Inc. (AMAT)
ExxonMobil (XOM)
Cheniere Energy (LNG)
FROM THE ARCHIVE
William Wilby from the WEALTHTRACK Archives:
WEB EXTRA
CHIPS ARE THE NEW OIL
Great Investor Bill Wilby calls semiconductor chips “the new oil,” fueling the power of the world’s economies. He recommends a new book that tells the story.
