In a recent essay published in The New York Times, Richard Bookstaber, a renowned risk expert, suggests that we may be on the brink of a new era of crisis. Drawing from his extensive experience in risk management, Bookstaber has a track record of identifying and addressing risks in both private and public institutions. As the Chief Risk Officer of Fabric, a platform focused on risk management for wealth managers and individuals, he has played a crucial role in navigating financial crises and working with regulatory bodies.
Bookstaber’s current analysis highlights several slow-motion risks that he believes pose significant threats to the economy, societal stability, and even civilization itself. These risks encompass climate change, demographic shifts, deglobalization, and artificial intelligence. Alongside these long-term concerns, Bookstaber also evaluates more immediate challenges that impact the economy and financial markets. With his vast expertise and historical insights, Bookstaber’s perspective offers valuable insights into the complex landscape of risks facing our world today.
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RICHARD BOOKSTABER
- Financial Risk Expert
- Founder & Chief Risk Officer, Fabric
ACTION POINT
BE AWARE OF CONCENTRATED STOCK POSITIONS IN YOUR PORTFOLIO
OUTSIZED MARKET INFLUENCE: NINE BIG TECH STOCKS = +25% OF S&P 500 MARKET CAP
- Advanced Micro Devices, Inc (AMD)
- Alphabet, Inc. (GOOG)
- Amazon.com, Inc. (AMZN)
- Apple Inc (AAPL)
- Meta Platforms, Inc (META)
- Microsoft Corp. (MSFT)
- Netflix Inc. (NFLX)
- NVIDIA Corp. (NVDA)
- Tesla Inc (TSLA)
Source: Miao, Hannah. “Big Tech’s Rebound Plays to Individual Investors’ Growth-Stock Bets.” The Wall Street Journal. Vanda Research. April 30, 2023
BOOKSHELF
ONE INVESTMENT
BOOKSTABER: U.S. RISK ADVANTAGE
- The U.S. dominates in a “new epoch of crisis.”
- Own an equal-weighted U.S. market index to avoid big tech market cap concentration.
- Buy iShares MSCI USA Equal Weighted ETF (EUSA)
STOCK, BOND, FUND MENTIONS
iShares MSCI ACWI ETF (ACWI)
iShares MSCI USA Equal Weighted ETF (EUSA)
WEB EXTRA
RISKS TO CIVILIZATION
Risk expert Richard Bookstaber is looking far into the future as he writes a new book about the risks facing civilization, working title: “From Wild West to Mad Max.”
