It's the end of the month, which means its time to welcome back Chris DeMuth for his monthly state of the markets. March 2023 was a doozy, so a lot to breakdown here, including: banking crises, thoughts on Coinbase's wells notice, mergers hanging in the balance (JetBlue/Spirit & Microsoft/Activision Blizzard), and more!
For more information about Rangeley Capital, please visit: http://www.rangeleycapital.com/
Show notes:
[0:00] Introduction + Episode sponsor: Stream by Alphasense
[1:40] What's on Chris' mind for March 2023: Banks, Energy, Crypto, Government public policy reaction, plus more!
[3:05] Volatility in Banking
[6:27] First Republic
[7:33] Public policy response to 2023 banking crises
[11:46] Chris' thoughts on Coinbase's wells notice & policy
[12:56] Why SEC paying closer attention to Coinbase now?
[15:57] Andrew's three reasons holding him back from rushing into regional/community bank stocks + Chris' concerns
[23:26] JetBlue Spirit deal and trend towards government agencies taking a more aggressive stance on blocking mergers
[27:32] JetBlue Spirit cont'd: How do they get in a situation where it seems so clear to you and me that this was going to be a regulatory problem? How do they get in a situation where they were in this regulatory issue?
[34:00] Microsoft - Activision Blizzard merger deal
[37:15] Timeline for merger trial
[40:56] Closing thoughts
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