Episode 19: Cash Is Trash - Silicon Valley Bank & Credit Suisse With Tom Pewtress.
We talk about the choppy week markets are having and the collapse of three banks.
Good morning, afternoon or evening and welcome back to the Expat Investor Podcast as always I'm Tom Pewtress, your host for today's show and well what a show we've got today. As I record this podcast I do it alongside the breaking news of the UK spring budget being announced and one of the big headlines so far is with regards to UK pensions. Next week I will cover the budget in more depth, but I have to say I'm shocked to see that the UK lifetime allowance has been abolished.
Today it's a bit market orientated again as last week was definitely a choppy week for markets. Sadly, though it didn't finish very well for a company called Silicon Valley bank which ended up collapsing.
SVB is the second largest bank to ever have failed so who is SVP and what did they do?
Diversification is key.
Three banks collapse, Silicon Valley Bank, Signature Bank and Silvergate which was a bank geared towards the crypto industry.
Credit Suisse is in all sorts of trouble.
Look past the noise and look at what's been going on for so long.
It's been a big week in financial services and the noise is far from over.
This was recorded on the 15th March 2023 and all information was correct at the time of recording.
As always this podcast is for educational purposes only and is not a personal recommendation. If you’re unsure what’s right for you, you should seek advice. Past performance isn’t a guide to the future, and investments rise and fall in value so you could get back less that you invest.