Christopher Whalen
The Navigator
Judgement in the fog, money, risk and the call others cannot make.
Christopher Whalen plots bearings through dangerous financial terrain with granular data rather than ideology, the essence of The Navigator. The Whalen Global Advisors chairman reads structural fault lines others overlook, pinpointing concentrated real estate exposure across two-thirds of U.S. banks, dismantling the mythology of scale in favour of flat-organisation agility, and tracing the downstream human cost of small-business collapse.
“We had a long period of stability in pricing, and I think who knows why that was, but for a lot of actors in this economy, it was okay to give somebody a firm offer for services because the timeframe really didn't have a lot of price risk. Now it does.”
“To resi construction. Not only that, Keith, but you've got a qualitative problem too, which is that manufacturers and suppliers are constantly changing their brands and their names in order to lower the quality of goods to try and maintain price. Classic example is paint.”
“It's not so much lying, it's that the Fed is a monoculture. They are a left of center neo-Keynesian institution. It does not welcome alternative points of view. And the reason for this is that their chief concern is confidence. So if you're trying to maintain confidence, are you going to tell people the unvarnished truth?”
“We already Well, think of it this way, Keith. For many countries that have a lot of wealth when it comes to commodities, especially oil, it's seen as a curse. Ultimately, look at Saudi Arabia, look at Venezuela. The skew that that energy wealth causes in the rest of the economy is profound.”
Masters in Business: “Chris Whalen on PPP Loans (Podcast)”
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