Mar 28, 2023
This podcast episode was recorded on Thursday, March 23 and
released to premium subscribers the following day. To get early
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Kevin Philip of Bel Air Investment Advisors joins the podcast to
discuss why he's still bullish about technology despite seismic
changes in that industry, his less enthusiastic take on
cryptocurrencies, and other issues he's watching -- be they in the
banking sector or geopolitically.
- Tech is not dreck, nor is it dead. Technological advances are
at the heart of US economic growth. Demand for digital goods may
have gotten ahead of its skis during Covid. It will return
- Chances for an interest cut by year-end have increased with the
bank failures (4:30);
- The employment situation is changing in the technology industry
as it comes to terms with delicate circumstances around business
models and the concept of value in general (6:01);
- The bank failures may create opportunities for venture capital
in two areas: secondary funds and a new vintage of funds that
should generate outsize returns in the future (9:20);
- Tech stocks have been beaten down, but lower interest rates can
sustain earnings multiples. There are risks, however...
- Some of the threats and opportunities wrought by Chat GPT and
- When it comes to cryptocurrencies, the guest is not a major fan
-- and this was recorded before Binance (18:52);
- Silicon Valley Bank was poorly managed and had a bad business
model. It deserved to fail (21:52);
- As for Credit Suisse, the Swiss bank appears to have been
undone by a crisis of confidence (23:44);
- Background on the guest (27:50);
- Bel Air's clientele is mostly about wealth protection rather
than growth. What are some tried and true methods for accomplishing
- China discussion and why there's no need to invest
- Through it all, there are reasons for optimism (43:31).
Not investment advice.
For more information on the guest, visit
the Bel Air Investment Advisors