David Goldman, a portfolio strategist at Asteri Capital, talks about the outlook for the U.S. financial-services industry, the impact of the hedge-fund model on market volatility and his investment advice.
00:00 U.S. economy, consumers, savings
01:24 Hedge-fund model, volatility, "catastrophe"
04:10 Banking volatility, credit crisis outlook
08:20 Hedge fund vs. private equity model: AIG
09:55 Merrill’s balance sheet; mortgage securities
12:42 Off-balance-sheet entities; bank solvencies
15:59 Outlook for banking illiquidity, hedge funds
18:06 Expense to tax payers; investment advice
Running time 20:03
Asteri’s Goldman Says Credit Crisis `Only Now Beginning’: Audio
Bloomberg, August 13, 2008 19:24 EDT