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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 | 96

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 »

Build the Buffer

Sep 1, 2011| 

When young couples come to me and say, “What should we do financially?”one of the first things I say to them is something like, “Build the buffer.”  You... Read »

Stock Market: On High Correlations

Aug 31, 2011| 

There have been a lot of articles written recently about a high average correlation level in the stock market.  I want to take a stab at explaining what it means... Read »

When Does the Day of Reckoning Come?

Aug 30, 2011| 

Even Hayek said something to the effect that there are no good solutions in the bust phase of the market.  Opportunities to avoid the bust come in the bull phase... Read »

That’s Mister Buffett to You, Lady!

Aug 21, 2011| 

In my e-mail, I received this tawdry message: Hi David, Why is every so in love with Warren Buffett and his financial advice? He used to be a great investor. Not... Read »

Hypocritical Buffett

Aug 16, 2011| 1

Almost everyone argues their interests on tax reform, excluding me, but including Buffett.  Buffett is in favor of increasing taxes that he doesn’t pay.  Estate... Read »

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