MB Fund Podcast: The New Credit Ice Age

Today we look at the at the credit fallout of Coronavirus. What is the nature of this financial crisis? Is it over or does it have further to run? What is the role of banks and central banks? What are the implications for assets?

All of these questions and more answered today by MB Fund’s Head of Investment Damien Klassen, Chief Strategist David Llewellyn Smith, and Head of Operations Tim Fuller as they cover “The New Credit Ice Age.”

Webinar slides available here for those listening via podcast


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Tim Fuller is Head of Operations at the Macrobusiness Fund, which is powered by Nucleus Wealth.


The information on this blog contains general information and does not take into account your personal objectives, financial situation or needs. Past performance is not an indication of future performance. Tim Fuller is an authorised representative of Nucleus Wealth Management, a Corporate Authorised Representative of Nucleus Advice Pty Ltd – AFSL 515796.

Comments

  1. boomengineeringMEMBER

    Should have taken Flawse’s advice.
    Gave the dept collector near $20k of invoices a while ago but they didn’t get around to it until it all started then they only found them when looking in the junk file. By that time they were snowed under with triple the amount of work and rising. Just rang them a few times, recorded message.
    Worst thing is the costs of materials out of my pocket.
    Just sent my costs of hard facing electrodes cost to another non payer who sent a remittance advice without the actual payment.
    Bloody hell no pension just depleting the savings.

  2. Stephen Morris

    Quote of the day?

    ANZ CEO Shayne Elliott told Perth radio station 6PR, the reason banks are capitalising interest comes down to Australia’s banking laws.

    “If we don’t charge you interest, even if we defer it, your loan becomes what they call ‘impaired’ and that means that we have to go and allocate a whole bunch more capital to support your loan.

    “If we do that, as an industry, we will not have enough capital. That wouldn’t be in anybody’s interest.”

    So, we’ll just carry on capitalising the interest and pretend the loans are not impaired.

    • Some unintended honesty for sure – although what he was trying to get across to the various ‘stakeholders’ was:
      1. Shareholders – bad news for you as returns on capital / equity plummet
      2. Mortgage holders – materially more expensive mortgages

      Geddit? So, don’t question what’s going on – just know it’s in YOUR interest.