Available for Interviews: Chris Janeway
Chris Janeway is Founder & CEO Fourth Point Wealth and coaches investors throughout southern CA. He is also a national speaker, financial coach, and advocate for financial literacy.
What Chris Janeway can say in an interview about
Evergrande:
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- Evergrande, China’s 2nd largest developer and one of the top 500 worldwide companies by revenue, is facing a cash flow and debt crisis. With tentacles reaching throughout the Chinese economy, a default of Evergrande has recently been described as the next Lehman Brothers. Is that correct? Should global investors worry about Evergrande?
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- Evergrande is over $300 billion in debt, borrowing to finance its development projects and investments throughout China. No longer able to continue new borrowing, they’ve reached a cash flow crisis and are facing default on their debt payments. With a steady decline in housing demand, they’re struggling to liquidate housing assets fast enough to make interest payments.
- Not just real estate . . . they have investments in electric vehicles, insurance, and financial companies, sports teams, food/beverage, etc. If Evergrande goes down, many industries, investors, and employees will be left in the lurch.
- Many residential buyers have paid down payments and have mortgages on flats that are yet to be completed or delivered
- Is it Lehman? We still don’t know enough yet BUT there are no derivative products held in the banking system like there were in the subprime mortgage crisis. While this would surely damage the Chinese economy, it’s not largely expected to lead to a global crisis on the scale of 2008.
- Investors should still expect volatility. It’s unknown what level of support the Chinese government may provide but they’ve set expectations for no bailout of Evergrande. A default would shake the Chinese economy and its markets. US investors holding global assets may see that hit their portfolios.
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Interviews: Chris Janeway
Chris Janeway is Founder & CEO Fourth Point Wealth, a wealth management and coaching firm which manages over $100 million, helping families build confidence and grow their wealth.
Chris founded Fourth Point Wealth to fix the broken investor experience. Chris works with individuals and organizations who value collaboration with a financial coach, and he’s developed a process that helps investors identify their goals, pinpoint gaps, and truly understand their wealth. Chris is passionate about client education and believes that, through a clear focus on coaching, investors are more likely to remain confident and committed to their long-term plan and avoid common imprudent decisions that damage our financial future.
When Chris is away from the office, he loves to golf, coach youth sports, and enjoys spending time outdoors with his wife, Katy, and their sons, Brennan and Graham.
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