The Meb Faber Show - Better Investing
Ben Mackovak on The Secret Sauce of Investing in Banks | #519
Feb 2, 2024
Ben Mackovak, Co-Founder of Strategic Value Bank Partners and board member for several banks, joins the show to discuss the challenges and opportunities in the banking industry. Topics covered include bank failures, commercial real estate risk, fintech disruption, and the impact of interest rate hikes. Ben also shares his controversial viewpoint and most memorable investment.
01:03:47
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Quick takeaways
- Bank failures in 2023 were mostly limited to odd banks with mismanaged balance sheets, rather than community banks.
- Reforms in the FDIC and deposit insurance are needed to level the playing field between too-big-to-fail banks and community banks.
Deep dives
The Impact of Bank Failures and Concerns in 2023
In 2023, there was a surge in bank failures, with concerns about commercial real estate risk in the banking system. The Federal Reserve's rapid interest rate hikes and low valuations for the sector added to the uncertainty. However, it was observed that the bank failures mostly affected odd banks with mismanaged balance sheets, rather than smaller community banks.
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