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James Mackintosh

Showing 1–5 of 5 transcripts.

  1. Milken Institute1h 13m

    Manias, Panics, & Crashes: Can We Learn to Avoid Great Financial Mistakes? | Global Conference 2026

    James Mackintosh, Zoe Cruz, Benedict Evans, Austan Goolsbee, Sebastian Mallaby, Catherine Wood

    Moderated by James McIntosh, a panel of industry leaders including Cathy Wood and Sebastian Thrun evaluated the current AI investment landscape against historical precedents from Charles Kindleberger's *Manias, Panics, and Crashes*. While consensus suggests the sector is not a bubble, experts diverged sharply on whether the massive capital influx supports a justified productivity revolution or masks flawed business models and impending liquidity risks. Key figures debated specific trajectory risks ranging from commodity-style pricing and sovereign debt constraints to the potential for a rapid IPO wave to trigger a market correction.

  2. Milken Institute1h 2m

    Investing in the New Normal

    James Mackintosh, Rishi Kapoor, Faisal Rehman, Michael Strobaek, Maria Vassalou

    Leading institutional investors and analysts convened to debate a structural economic shift where central banks maintain suppressed yields, forcing a strategic migration from government bonds into illiquid private markets and technology infrastructure. The panel highlighted a diverging landscape where digitalization drives deflationary pressure and winner-take-all dynamics, prompting SoftBank to target tech giants while Invesco adopts a "picks and shovels" approach to support broader digital transformation. Despite these opportunities, the discussion underscored significant risks including rising inequality, potential regulatory crackdowns, and market volatility as the traditional 60/40 asset allocation model becomes increasingly obsolete in a "low for longer" interest rate environment.

  3. Milken Institute52 min

    New Rules: Open Banking, FinTech, and Big Tech

    James Mackintosh, Louise Beaumont, Elena Lieskovska, Gavin Littlejohn, Ajay Vij, Eric Kilsterman

    UK regulators initiated open banking to dismantle incumbent bank monopolies and drive the shift toward hyper-personalized, predictive financial services that address historical market undersupply. While global adoption varies, with the US leading in legacy aggregators and India leveraging biometric identity for leapfrogging, the framework's success hinges on resolving API standardization gaps and clarifying liability models where banks absorb payment initiation risks. Future growth depends on integrating diverse data sectors like healthcare and energy to deliver tangible consumer value, ensuring that emerging fintechs and non-bank providers can compete on experience rather than legacy infrastructure.

  4. Milken Institute1h 0m

    Credit Market and Private Debt Predictions for 2018

    James Mackintosh, John Francis Barry, Maria Cantillon, Nigel Walder, Adam Wheeler, Alex Vascovich

    Leading private credit managers and investors convened to analyze a market characterized by compressed Eurozone yields, a structural exit of over-levered European banks from the mid-market, and a shift toward "covenant-light" products despite warnings about long-term insolvency risks. Panelists highlighted the $5.3 trillion US middle market opportunity and the strategic pivot toward SaaS while maintaining rigorous discipline against regulatory fragmentation and political uncertainties like Brexit. Looking ahead, the discussion underscored an expectation of sustained private debt growth driven by institutional yield hunger, even as experts cautioned that inexperienced entrants lacking robust downside protection could face severe losses when the credit cycle eventually turns.

  5. Milken Institute58 min

    The Hunt for Yield: Risk-Free Return or Return-Free Risk?

    James Mackintosh, Scott Evans, Robert Kricheff, AJ Murphy, Anne Walsh, Andrew Whittaker, James McInstosh, Bob Krychev

    A panel of institutional investors and asset managers characterizes the fixed-income market as being in a late-stage bull phase with historically tight spreads, prompting a strategic shift toward defensive positioning despite a consensus that the environment remains distinct from the speculative excesses of 2007-2008. While participants are reducing exposure to overvalued assets like U.S. agency mortgage-backed securities and wary of liquidity risks from passive investing and covenant-lite debt, they continue seeking yield premiums in sector-specific opportunities such as second-lien loans and selective high-yield issuers. This cautious approach reflects concerns that corporate leverage remains elevated and that potential macroeconomic catalysts, including fiscal policy changes and geopolitical shifts, could abruptly alter the trajectory of an otherwise extended credit cycle.