James Aitken: The Financial Plumber For These Leaky Markets

17 snips

Mar 12, 2025

In this engaging discussion, macro strategist James Aitken, founder of Aitken Advisors and former UBS and AIG expert, shares insights from his unique financial journey. He reflects on transitioning from trading to advising, emphasizing the shift in market focus from Wall Street to Main Street. Aitken delves into risks moving from banks to private credit, the implications of government policies on market dynamics, and the roles of gold and cryptocurrency amid current economic uncertainties. Their chat also includes memorable golf stories against the backdrop of Ireland's economy.

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ANECDOTE

Aitken's AIG Experience

James Aitken's experience at AIG Financial Products, working under Joe Cassano, provided him with invaluable insights into the financial system.
This experience proved crucial in understanding the complexities of financial markets.

INSIGHT

Market Reactions to Policy Shifts

A hyper-financialized system, like the current one, reacts negatively when policymakers signal a shift away from Wall Street.
Markets will test policymakers' resolve by creating volatility and instability.

INSIGHT

Wealth Effect and Consumption

The wealth effect, driven by asset prices, significantly impacts consumer spending.
A sustained market decline can negatively affect consumption, especially among the wealthy.

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Danny Moses interviews macro strategist James Aitken, also known as the 'financial plumber.' The duo reflects on their shared history, including Aitken's tenure at UBS and AIG, where he gained deep insights into the financial system. Aitken discusses his transition to founding Aitken Advisors and the challenges of writing financial analyses from a small island. The conversation covers the current state of the markets, the impact of fiscal policy, and the importance of leveraging relationships with key financial figures like Mark Carney and Scott Bessent. The episode delves into private credit, potential systemic risks, and the evolving landscape under the Trump administration’s policies. Aitken provides his perspectives on gold, Bitcoin, and the Yen, as well as the broader implications for the financial markets.

ABOUT THE SHOW

For decades, Danny has seen it all on Wall Street and has built his reputation on integrity, curiosity and skepticism that he will bring with him each week. Having traded through the Great Financial Crisis and being featured in "The Big Short" is only part of the experiences Danny wants to share with the listener. This weekly podcast cuts through market noise, offering entertaining and informative discussions with expert guests giving their views of the financial world and the human side of it. Whether you're a seasoned investor or just getting started, On The Tape provides something for all listeners.

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