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David Merkel

Affiliation: Finacorp Securities

David J. Merkel, CFA, FSA — From 2003-2007, I was a leading commentator at the excellent investment website RealMoney.com (http://www.RealMoney.com). Back in 2003, after several years of correspondence, James Cramer invited me to write for the site, and now I write for RealMoney on equity and bond portfolio management, macroeconomics, derivatives, quantitative strategies, insurance issues, corporate governance, etc. My specialty is looking at the interlinkages in the markets in order to understand individual markets better. I still contribute to RealMoney, but I have scaled it back because my work duties have gotten larger, and I began this blog to develop a distinct voice with a wider distribution. After one year of operation, I believe I have achieved that.

In 2008, I became the Chief Economist and Director of Research of Finacorp Securities. Until 2007, I was a senior investment analyst at Hovde Capital, responsible for analysis and valuation of investment opportunities for the FIP funds, particularly of companies in the insurance industry. I also managed the internal profit sharing and charitable endowment monies of the firm.

Prior to joining Hovde in 2003, I managed corporate bonds for Dwight Asset Management. In 1998, I joined the Mount Washington Investment Group as the Mortgage Bond and Asset Liability manager after working with Provident Mutual, AIG and Pacific Standard Life.

I hold bachelor’s and master’s degrees from Johns Hopkins University. In my spare time, I take care of our eight children with my wonderful wife Ruth.

Visit: The Aleph Blog




David Merkel's Latest Articles | 91

2011 Financial Report of the U.S. Government

Dec 27, 2011| 

There is little to no fanfare for the release of this report, (why do they release at such a distracted time of year, where people will ignore it?) which strips... Read »

Risk-Based Liquidity

Dec 22, 2011| 

When there is financial failure, it comes as a result of illiquidity.  Now, truly, these parties are insolvent, because they took the risk of not being able to... Read »

Peak Credit

Dec 15, 2011| 1

What I write here will not be rigorous.  We’ve heard about “peak oil.”  We’ve heard about other resources, and how production will decline over time. But... Read »

The Euros Zone

Nov 11, 2011| 

I want to toss out a half-baked idea for others to play with, criticize, and adjust. But first, a fully baked idea: the Euro was doomed to fail. Any core Euro after... Read »

The Retirement Bubble

Oct 7, 2011| 

Almost every asset funds a liability.  What gets pitched most frequently to the average American, investment-wise?  Save for your retirement. And that’s good,... Read »

Don’t Buy Penny Stocks

Oct 2, 2011| 

I am often a fan of neglected small cap stocks.  When I find a good one, I add it to my portfolio.  But I am generally not a fan of stocks that trade below $1.00. ... Read »

On the Berkshire Hathaway Buyback

Sep 27, 2011| 

He finally decided to do it.  He’s going to buy back stock. Don’t get me wrong.  I am not a critic here, nor an admirer; I am just an observer. Buffett is... Read »

Please Sell Your Treasury Bonds, China

Sep 21, 2011| 

This will be a short post.  I am not worried about China selling its US Treasury bonds for several reasons: As they sell, the Yuan will rise versus the Dollar,... Read »

Hand Banking Regulation Back to the States

Sep 20, 2011| 

The insurance industry is badly regulated, but it is much better regulated than the banking industry.  Consumers have better protections under state regulation. ... Read »

The World Yearns for Debt Relief

Sep 10, 2011| 

There are many debts that will not be repaid at face value.  Better to recognize those realities now, and seek a compromise.  What’s that, you say?  Banks that... Read »

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