In this episode of Non Consensus Investing, host Ram Ahluwalia, CIO at Lumida Wealth, delves into alternative investment strategies and managing significant wealth with guest Will Black, a consumer credit expert and founder of Black Analytics. They discuss the current state of the U.S. consumer, trends in delinquency rates and auto insurance premiums, and the implications for personal finance and alternative investments. The conversation explores the paradoxical nature of deteriorating credit performance despite strong macroeconomic indicators, the impact of the pandemic on consumer credit and underwriting standards, and the nuances of structured finance. With insights into sub-prime lending, the unique challenges faced by younger borrowers, and the evolving landscape of credit card networks and FinTech innovations, this episode reveals crucial intersections of risk that influence investment decisions and consumer financial health.