Danielle Ecuyer

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864 appearances 2 recordings 1 series first heard Oct 2021 last heard Nov 2022

Danielle Ecuyer’s voice in public audio — every appearance, attributed to the second.

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Australian Finance Podcast · How to invest in US companies with Danielle Ecuyer · 11 Oct 2021 podcast

There's been so many financial products that come off of one single loan

let's say that can be amplified five times.

And because all of us have an exposure to that asset, it means that the world now, when you have a lot of debt in the system and when it's amplified out into the community in terms of our wealth, when the system starts to shake, it becomes a systemic problem.

So it's not just isolated to a bank.

It means that you and I and the super funds and everyone else is exposed.

Summit HQ- And the classic case in point was when you had first of all, you had you bet their stones went down, and one of the reasons, supposedly they didn't save it in the gfc is that they refused to bail out ltcm.

Summit HQ- Some 10 years earlier, but when Lehman's when everybody started to panic because they owned a lot of those collateral debt obligations those mortgage backed securities in the US, which had been on sold resold five times.

to understand that it's worth watching the big short again and then the whole banking system people started to panic and felt their deposits were at risk so you had potentially a run on the banks now this is an extreme example but in the case of um evergrande in china where people have been jumping up and down is that because the chinese economy has uh

30% of its GDP is related to property and everything's highly leveraged with a whole lot of shadow loans.

So it's very hard to ring fence just one problem.

Now in China, they will ring fence it because Xi Jinping does not want the whole system to go down and he wants to protect the wealth of the people because 40% of the wealth is held in property.

So hopefully it's the interconnectedness now of how much financial assets we own

and how much of our economy is related to finance, if that makes sense.

There's nothing wrong.

And it's all about risk management at the end of the day.

And it also depends on how much money you are actually saving and growing for.

But I think the example that I just gave about the property sector in Australia is really important.

And I just got some statistics that I thought we could just quickly run through.

So in the ASX, and people may or may not know this, if you break down by sectors, financials are 30%.

Materials, so the iron ore produced is 19, healthcare is 11 and infotech is 4.

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