Mike Lebowitz 1Erik Townsend and Aaron Chan welcome Michael Lebowitz to MacroVoices. Erik and Michael discuss:

  • The saving discipline that drives the virtuous economic cycle and sustains prosperity
  • A global economy untethered from demographics and productivity
  • End game for the unvirtuous cycle of debt-fueled consumption
  • Outlook for negative interest rate policies
  • Brexit as representative of larger social, geopolitical, and wealth distributional forces
  • Japan outlook given worst-in-class demographics and productivity growth
  • Alternatives for savers throughout the demise of the virtuous cycle
  • Trump v. Clinton impacts on global financial markets




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Michael P. Lebowitz, CFA, has over 25 years of financial markets and risk management experience. Throughout his career, Michael has been involved in trading, portfolio construction and risk management involving some of the largest and most active portfolios in the world as well as comparatively small individual RIA portfolios. Currently, Michael is the co-founder and manager of 720 Global. 720 Global was formed in 2015 to provide professional investment managers with expertise in capital markets, macroeconomic research and analysis, asset allocation, valuation and risk management. Michael's previous experiences include the creation and management of a $375 million RIA, management of a $100 + billion institutional investment portfolio, annual issuance of over $1.5 trillion of Agency debt securities, and the structuring and trading of mortgage-backed securities. Michael graduated in 1990 from Miami University (Ohio) with a Bachelor's Degree in Finance. He earned his designation as a Certified Financial Analyst (CFA) in 2000. Michael lives in Chevy Chase, MD with his wife and three children.