Based in New York, Kevin Colvin engages as director of global trading and market sales at Cantor Fitzgerald. Kevin Colvin has a passion for travel and surfing and has visited locales such as Costa Rica, Indonesia, and Puerto Rico. With the latter territory having been hit this summer by hurricanes Irma and Maria, recovery efforts from the devastating storms are progressing slowly.
As reported in the New York Times, one major issue is that, with the country having faced a fiscal crisis the previous year, systemic weaknesses are hampering current efforts to employ relief funds. In 2016, Congress passed special legislation that provided Puerto Rico with time to find creditor relief and regain a sound financial footing.
With a Chapter 9 type bankruptcy process in place, the territory’s municipalities lacked the safeguards provided to US cities such as Detroit and Stockton. In these cases, pension freezes and tax increases were included within the bankruptcies. Unfortunately, this lack of protection has weakened a number of critical infrastructure companies, including the island’s public electrical utility Prepa.
The result is that efforts to restore essential services have been severely hampered. The complexity of the issue suggests that there is much work to be done both in Congress and in Puerto Rico to ensure a resumption of basic services, such as access to electricity and clean water.
Kevin Colvin is an established New York financial executive who holds responsibilities as global market sales and trading director with Cantor Fitzgerald. In this role, Kevin Colvin maintains an interest in current macroeconomic trends. A recent Bloomberg article drew attention to the persistent US yield-curve flattening.
This curve represents the spread between long term and short term Treasury bond rates, and provides extra compensation to investors when they choose to place their funds in long-term holdings. Some observers maintain that the flattening curve is a natural market reaction to the Fed meeting low inflation rates with tightening monetary policy. This theoretically translates into short-term interest rate increases.
With the Cantor Fitzgerald chief market strategist describing this as “the most important” economic factor in play, there are worries that this could result in an economic slowdown. There is a perceived risk that, with investors accessing a lower yield range on 30- and 10-year Treasury notes, the flattening yield curve would infect the real economy and bank earnings. Even with employment growth increasing at the fastest rate since 2000, the government might find it challenging to confront a slowdown through policy tools in this scenario.
Based in New York City, Kevin Colvin serves the Cantor Fitzgerald global market sales and trading division as director. Passionate about surfing, Kevin Colvin enjoys travel to beach destinations worldwide, including Costa Rica.
Featuring top-level waves on two coasts, Costa Rica has more consistent surf on the Pacific side. One of the top beaches for beginning surfers is Playa Carmen, which stretches along the palm-fringed Cabo Blanco nature reserve and offers 2- to 4-foot waves throughout the December-to-March dry season. Particularly appealing for beginners is the beach’s location in a sweeping, gentle bay with a sand break that lessens the danger of wipeouts.
More secluded Playa Santa Teresa is located north of Playa Carmen and has a northwestern-facing orientation that brings waves with more power. Intermediate surfers flock there at high tide during the dry season. With tubes not uncommon, mid-to-low tides bring out top surfers who can navigate the fast-moving swells.
Kevin Colvin is the director of global market sales and trading at Cantor Fitzgerald, an equity investment company in New York City. Community focused, Kevin Colvin supports the nonprofit Ace in the Hole Foundation, which was created to honor the sacrifice embodied by US Marine Corps First Lieutenant Michael LiCalzi, who lost his life in May of 2006 while serving in Iraq.
Ace in the Hole provides support to Marine tankers, with an emphasis on the 2nd Marine Division 2nd Tank Battalion. In tandem with the Marine Corps Tankers Association, the foundation’s support extends to family members of armed service personnel through the First Lieutenant Michael LiCalzi Scholarship. This unique scholarship focuses on children, grandchildren, and those under the guardianship of past and present Marine Corps Tank Unit members.
A key fundraising pathway is the annual Lido West Beach Run that takes place each May and also serves as a gathering for Marines who served together in Iraq. Numerous corporate sponsors of the run amplify the impact of individual donors. Over the past nine years, more than half a million dollars has been disbursed through the Ace in the Hole Foundation.
An annual 9/11 Charity Day has been held for the past 16 years as a way of paying tribute to the two-thirds of the firm’s workforce who lost their lives. With approximately $12 million raised each year, the event involves all members of the Cantor Fitzgerald team contributing a day’s pay to charity. The $137 million that has been raised up to this point has been distributed to a number of local organizations that have limited ways to effectively raise funds.
A focus of the 2017 Cantor Fitzgerald efforts was on relief activities in the aftermath of Hurricanes Irma and Harvey, and turnout at the company’s trading floor included celebrities such as Steve Buscemi and Robert De Niro.
About the Author:
A New York City financial services professional, Kevin Colvin serves as director of global market sales and trading with Cantor Fitzgerald. In September 2017, Kevin Colvin’s firm was in the news as it paid tribute to the 658 employees it lost to the September 11 terrorist attacks, when the city’s Twin Towers were destroyed.
Beyond Bali, Indonesia’s most consistent waves include the Mentawai Islands, which benefit from storms that arise in the southern Indian Ocean and hit the shore via prevailing southwest trade winds. From April to November, the swells that hit the region are unsurpassed, with Kandui Left standing out as one of the most explosive left-hand barrels region wide. Traveling with too much speed to paddle into, the largest waves must be approached through a backside tow-in and once in the pocket, there is no getting out. Also known as Rifles, Kandui Right offers straight smooth barrels that can be paddled into and escaped from when the action gets too intense.
When other waves are flat, Koroniki Right offers fast pulsing waves that do not reach massive heights but are accessible and fun. Another alternative is Nipussi, which is situated offshore in the north Mentawais and has reefs capable of creating barrels when swells are minimal.
About the Author:
Kevin Colvin is an established New York financial executive who engages with Cantor Fitzgerald as a director of global trading and market sales. Also an avid surfer, Kevin Colvin has traveled to coastal destinations ranging from Costa Rica to Indonesia.
With more than a decade of experience working in finance, Kevin Colvin serves as the director of global market sales and trading for Cantor Fitzgerald in New York City. Active within the community, Kevin Colvin supports several nonprofit organizations including the Ace in the Hole Foundation.
Founded in 2008, the Ace in the Hole Foundation honors the sacrifice made by first lieutenant Michael LiCalzi of the U.S. Marine Corps. He died while serving the United States during Operation Iraqi Freedom in May 2006. The organization gives financial aid and assistance for scientific, educational, and charitable purposes. It has donated more than $600,000 to help Marines of the 2nd Tank Battalion, veterans, and others in need. The name of the group comes from 1st LT LiCalzi’s service with the 2nd Tank Battalion of the USMC, as the group’s slogan is “Ace in the Hole.”
Since it is a nonprofit organization, Ace in the Hole relies on fundraising events to support its mission. One of these events was its eighth annual beach run and walk, which took place on May 13, 2017, at Lido West Beach in New York. The fun run and walk started on the beach and continued for two miles.