Vipal Monga
speaker
72 appearances
2 recordings
1 series
first heard Jun 2018
last heard Jul 2018
Vipal Monga’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · Investors Score When Companies Delay Paying Their Bills · 26 Jul 2018
podcast
So they've started to pull back a little bit.
That's opened up some room for private investors like the company we wrote about, Sten International, to come in and fill in the void a little bit, offering loans to suppliers that couldn't get them from the banks and helping their investors like sovereign wealth funds make a bunch of money.
The fees are really high.
We use an example of a Chinese supplier that would sell its invoice to stand at a 1% fee over 30 days.
That equals to a 12% APR for the investors over the course of the year.
If you compare that to other kinds of short-term investments, for example, commercial paper, investors would make 2% annualized.
So this is a lot more lucrative.
People are champing at the bit to get into this.
Well, I mean, if you look at all the protectionism that we're hearing about from the United States and retaliatory tariffs, there's some fear that trade flows will slow or be impeded by, you know,
trade barriers that haven't been there since the 80s.
That could sort of shift the way goods move and could expose some companies to defaulting on their receivables.
Now, everyone tells me that the default risk is very low, but there is always risk.
And it's sort of an unknown as to what happens if we go farther down this protectionist path.
That's definitely a risk that
investors will be taking.
Thank you very much.
Yes, it's a quirk of pension funding law and the tax law.
So the way it works, companies that have underfunded plans have until
mid-September to make a contribution and credit it for 2017.
Now, in 2017, the tax rate was 35%.
Showing 21–40 of 72 · page 2 of 4
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