DoubleLine’s Ken Shinoda Talks Macro, Structured Products and His Thoughts on Risk on The Julie La Roche Show

DoubleLine Portfolio Manager Ken Shinoda and host of podcast Channel 11 gets to sit in the guest chair during his visit to The Julie La Roche Show, recorded March 22, 2023. Mr. Shinoda kicks things off (00:45) by recounting what brought him into the business and eventually to DoubleLine and how trading mortgages through the Global Financial Crisis was more instructive than earning an MBA. The two then discuss the macro big picture, particularly the state of regional banks (2:24) and its potential impact on the structured products that he focuses on at DoubleLine (5:32). “If we were ‘soft landing’ before,” Mr. Shinoda says of the slowing economy, “it’s going to be less of a soft landing now.”

Ms. La Roche and Mr. Shinoda also get into, among other topics, why the real estate sector is such fertile ground for clickbait doom-and-gloom headlines (13:53), whether tech jobs and high-tax states will still drive migration (19:17), the lack of supply holding back millennial homebuyers (24:10), the different tacks taken by DoubleLine’s residential mortgage-backed securities (RMBS) and commercial MBS teams (30:32), why the Agency RMBS space is no longer boring (34:52) and downtown L.A.’s ghost-town vibe (42:15). Mr. Shinoda concludes the episode with his outlook on risk (45:05).

The Barron’s article by Mr. Shinoda that Ms. La Roche references can be found here:
[ Ссылка ]

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