In a report presented to Congress in 1790, Treasury Secretary Alexander Hamilton described the “punctual performance of contracts”—that is, meeting all financial commitments on time—as a matter of national honor. It was also critical, Hamilton argued, to build confidence in a financial system and a national currency that could underwrite his fledgling country’s industrial development and provide “security against foreign attack”.
The graveyard of once legendary business franchises has just added one more new member to its ignominious fraternity. The hastily arranged acquisition of Credit Suisse by its chief Swiss rival UBS in March 2023, ended the 166-year run of the global symbol of Swiss banking largesse. Credit Suisse was once the 15th largest bank in the world with offices in 50 countries and assets of over $1 trillion USD.
Philadelphia, October 17, 2022 – Xponance, Inc., a multi-strategy investment firm, announced today that Michael A.B. Orr has joined the firm as Managing Director & Chief Investment Officer of the firm’s Alternatives subsidiary, Xponance Alts Solutions, LLC (“XAlts”).
As I write this research note, (October 13, 2022) annual core inflation has hit a 40-year high at 6.6% from a year ago (8.2% for overall inflation), guaranteeing another punishing rate hike by the FOMC. Market commentators are prognosticating about …