Market Review and Trends
Bank runs & complex systems – Reflections from Sarawak
By Kean Chan  •  March 26, 2023
“There are decades where nothing happens; and there are weeks where decades happen” Vladimir Lenin
I was visiting relatives in Kuching, Sarawak when the multiple news reports of American bank failures hit the screens and home televisions the world over. The speed and ferocity of the downfall of Silicon Valley Bank (SVB) and the subsequent response from bigger US institutions to rescue First Republic Bank all unfolded within a few days. To add on to the seemingly never-ending list of worries, investors were also hit with news of Credit Suisse’s rescue and the unexpected wipe-out of its AT1 debt holders last week. There are weeks where decades happen. Admittedly, it feels reminiscent of the 2008 Global Financial Crisis (GFC) in some aspect…

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By Kean Chan
Born and based in Singapore, Kean is fascinated with financial markets and global macro investing since a teenager. At keanchan.com, he records his thoughts on the world and archives his experience of mistakes and lessons and hopes that they are useful for viewers from all around the world. He is obsessed with reading widely across various fields, loves to jog and wishes he has more time for golf. While proficient with English, Mandarin and German, he is trying his best to improve his Cantonese and hopes to pick up French some day. Kean was a Toastmaster with ACB accreditation, and is a charter holder of the Chartered Alternative Investment Analyst Association (CAIA).
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