Patrick Chovanec

Patrick Chovanec

Managing Director, Chief Strategist at Silvercrest Asset Management, Adjunct Professor at Columbia SIPA, former biz prof at Tsinghua University in Beijing

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That’s not to say that foreign lenders into China don’t face the risk of loss. Just that this risk does not derive, for now, from lack of systemic access to FX, but from the credit risk of the investment itself (which may well have other systemic aspects, besides currency).

The fundamental problem here isn't Evergrande's creative bookkeeping, or its ventures into soccer etc. It's China's reliance on buoyant real estate collateral as the lynchpin of its entire, broader banking system.

My wife: "So what's people's view on Evergrande?" Me: "What's people's view? It's like a satellite crashing to earth."

You can be as pro-2A as you like. But when did it become normal to wave guns around, much less shoot them, in a political ad? Reagan got by without it just fine.

I wish I could go back to disagreeing with people about politics, instead of basic right and wrong.

I've said it before: I think we're going to study this period in our history much like we study the Salem Witch Trials.

Here's a quick installment from Microsoft Flight Sim, about an airplane that - unless you live in the UK and trained for the RAF - you may never have heard of: the Grob G115E Tutor T1.

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It is rather amazing that yesterday the sitting President of the United States was fined $2 million for defrauding eight charities, and it barely registered as a scandal.

According to the President, he has absolute power but absolutely no responsibility.

My suspicion is that Trump will fire Fauci when he thinks the epidemic is receding and believes he has no more need for him. Then he will proceed to badmouth and scapegoat him. The foundation has already been laid for this.

I’m a conservative and I will trust a liberal journalist over a right-wing shitlord any day. Why? Because even if the journalist is biased, they are at least trying to tell the truth as they see it, while the shitlord thinks it’s fun to lie and see if you believe them.

The fact that any Republican would support Donald Trump after this happened is an absolute disqualifier for me, no matter how much I might agree with them about any other issue under the sun. In other words, America First.

I'm going to criticize Biden, then I'm going to vote for him, then I'm going to criticize him some more. I can do this because I'm a citizen, not a team cheerleader.

All these politicians get the vaccine first, because they're "setting an example". Nice of them to start now.

I used to regret leaving the Republican Party after 2016, because it is the logical vehicle for a lot of things I believe in. But I want absolutely nothing to do with the malicious craziness this party has come to embody now.