Episode 28: After SVB, Is My Money Safe at Charles Schwab? - Warren Fisher, Manole Capital Management
The failure of Silicon Valley Bank, left many wondering about the safety of their savings. As we record this, the government’s actions appear to have won a reprieve in the banking panic. Is the government fix a finger in the dam holding back a flood of public mistrust of banks or will events spread across the financial industry to include other regional banks and even traditional custodians such as Charles Schwab? What caused this crisis to begin with? Will we see other bank failures? Is my money safe? To answer these questions and more, we’re joined by Warren Fisher, Founder and Portfolio Manager at Manole Capital. Warren has over 20 years of portfolio management and analyst experience at Goldman Sachs Asset Management and Fortress Investments focused on public financial and technology companies. In 2015, he founded Manole Capital to focus exclusively on the FinTech industry. Given Warren’s deep understanding at the intersection of banks and technology, he has the perfect background for a profound conversation on bank runs, technology, interest rates, and regulation.
Silicon Valley Bank Failure - 4:30
Charles Schwab's Business - 15:15
Money Market Funds - 30:00
Ramifications of SVB - 35:00
This podcast was recorded on March 23, 2023. The respective opinions expressed are those of Mr. Fisher and the Biltmore Family Office, LLC investment team. The opinions referenced are as of the date of this podcast and are subject to change without notice. This material is for informational use only and should not be considered investment advice. The information discussed herein is not a recommendation to buy or sell a particular security or to invest in any particular sector. Forward-looking statements are not guaranteed. BFO reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs and there is no guarantee that their assessment of investments will be accurate. The discussions, outlook and viewpoints featured are not intended to be investment advice and do not take into account specific client investment objectives. Before investing, an investor should consider his or her investment goals and risk comfort levels and consult with his or her investment adviser and tax professional.
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