Counterparty Risk Will Dwarf Market Risk in Next Financial Crisis.

In this report, I cover the early market action from London on Thursday, June 6th, 2019. I look briefly at the precious metals, the stock market, the dollar, the bond market and the price of WTI and Brent crude oil.

Today I look into counterparty risk and how important it is to know who has ultimate control of your money or assets. With the demise of U.K. fund manager Woodford Investment Management, we have learned that other major financial institutions outsourced their business to Woodford.

This outsourcing phenomenon is a further warning to investors that hey really need to do their homework before they invest their savings. The other lesson from the Woodford fiasco is that one should not be reliant on trusting the fact that a financial institution has the stamp of approval of a major regulator like the FCA or SEC.

Even though precious metals and cryptocurrencies are a way good way to mitigate counterparty risk one still needs to their homework when parking their money in those too. My conclusion is that counterparty risk is a more important risk factor than market risk.

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