David Merkel

About the Author David Merkel

David J. Merkel, CFA — 2010-present, I run my own equity asset management shop, called Aleph Investments. I manage separately managed stock and bond accounts for upper middle class individuals and small institutions. My minimum is $100,000. From 2008-2010, I was the Chief Economist and Director of Research of Finacorp Securities. I did a many things for Finacorp, mainly research and analysis on a wide variety of fixed income and equity securities, and trading strategies. From 2003-2007, I was a senior investment analyst at Hovde Capital, responsible for analysis and valuation of investment opportunities for the FIP funds, particularly of companies in the insurance industry. I also managed the internal profit sharing and charitable endowment monies of the firm, to the delight of employees there. From 2003-2007, I was a leading commentator at the investment website RealMoney.com. Back in 2003, after several years of correspondence, James Cramer invited me to write for the site, and I wrote for RealMoney on equity and bond portfolio management, macroeconomics, derivatives, quantitative strategies, insurance issues, corporate governance, etc. My specialty is looking at the interlinkages in the markets in order to understand individual markets better. I no longer contribute to RealMoney; I scaled it back because my work duties have gotten larger, and I began this blog to develop a distinct voice with a wider distribution. After three-plus year of operation, I believe I have achieved that. Prior to joining Hovde in 2003, I managed corporate bonds for Dwight Asset Management. In 1998, I joined the Mount Washington Investment Group as the Mortgage Bond and Asset Liability manager after working with Provident Mutual, AIG and Pacific Standard Life. My background as a life actuary has given me a different perspective on investing. How do you earn money without taking undue risk? How do you convey ideas about investing while showing a proper level of uncertainty on the likelihood of success? How do the various markets fit together, telling us us a broader story than any single piece? These are the themes that I will deal with in this blog. I hold bachelor’s and master’s degrees from Johns Hopkins University. In my spare time, I take care of our eight children with my wonderful wife Ruth.

Brexit Boogeyman Bellows “Boo!”

At a time like this, when the Brexit Boogeyman goes “Boo!” it’s time to take stock of the situation amid panic.

Betting on Brexit

Investors need things to scare them, or they don’t have a normal life.  This is kind of like the bachelor uncle who tells …

Too Many Vultures, Too Little Carrion, Redux

I was surprised to find that I wrote another piece with the same title — 8.5 years ago, before the housing bubble crashed.

Don’t Worry About Public Bond Market Illiquidity

The talk regarding an illiquid public corporate bond market goes on, and if you’ve read me over the past year on this topic, …

Don’t Sweat the Fed

This should be short. There are a lot of good reasons not to worry about the FOMC raising Fed funds or not.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts