Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
@LewisBraham
When I read your comment, even before your link, I immediately thought of Olstein and his funds. I stumbled across him in 2004 and thought his approach made a lot of sense. Unfortunately I sold it several years later as since then it…
Anybody buying Credit Suisse ADRs (CS) now that the Swiss National Bank said they would backstop them?
Pennies in front of a steamroller but you could probably make a few bucks in the next week!
@Baseball_Fan
Do you mean bars and coins in a safe deposit box or a tin can under the third rock from the left in the backyard?
Or ETFs with physical Gold?
We have about 3% of portfolio in Mutual funds gold miners and 0.5% in Sprout Physical Gold…
It has recovered to neg 5% but still big move especially as there seems to be not a lot of new data
Most of what I read indicates that the productivity of new fracking wells in US seems to be falling, indicating supply will be dropping especially …
Finally a good financial reason to live here ( in MA).
Also worth noting you do not pay state income tax on interest from a MA bank. But my local bank only pays 1% on their MM account, and next to nothing on savings
@msf
great analysis! I wonder in addition to new hires how many exisiting employees were sent into the “metaverse” to work and now YukZuk has been forced to swirch gears, those employees are toast.
Now in addition to CPI we have “core CPI” and a new one to me, Super Core CPI ( excludes housing)
The latter is increasing, held down only by falling used vehicle prices. But the wholesale used vehicle prices are rising so it looks unlikely Super…
I heard on NPR that “ meta” doubled its workforce during the pandemic. To me this seems irresponsible ( like a lot of other things about “meta,” starting with its CEO)
Didnt it occur to them that the pandemic would not last forever, and their payr…
This article goes into more detail than I have seen elsewhere about the politics of the 2018 changes in the banking regs that allowed SVB to escape regulation, and how easily the startups etc could have protected their funds. It also implies that SV…
At least Holmes and SBF will go to jail. Neumann was smart enough to only defraud private investors so civil suits but no jail time. He is already back at raising money. Who on earth would give him a dime?
You must have an enormous ego to loose Bi…
@YBB
Thanks. You are correct as SPIC covers brokerages
It was my hope that the banks would have to pay to bail the depositors out rather than just eventually pass the increased costs off to their customers, which is what most of us think will hap…
Since the banks pay the FDIC fees, it is us the customers who will eventually pay
A lot of the start ups etc used SVB for all oftheir money so their accounts were in the multi-millions
IT would be politically difficult for the FDIC, even if it doe…
I will let others speak to the ease of selling Treasuries at Schwab etc, as I have held all of mine to maturity
However I have bought many and as long as you are willing to accept the price offered ( I am not savy enough to try to "play " the trea…
Twitter is good for a few things!
My favorites
"Just as there are no atheists in Fox Holes, there are also no Libertarians during a financial crisis..."
~Barry @Ritholtz,
https://twitter.com/sruhle/status/1634703830032998400?s=12
I think a lot of people are doing the same thing, which will lower Schwab's income as they will loose fee money.
I bet the Sweep accounts at Fido are a lot stickier. If so, maybe this will encourage Schwab to eliminate requirement to buy MMF rather…
Treasuries settle same day as do Schwab MMF
If you buy something with funds from the sale of a Schwab MMF same day, they now have a big red banner reminding you that you do not have enough settled cash.
A real PIA not present at Fido with their sw…
"We are also announcing a similar systemic risk exception for Signature Bank, New York, New York, which was closed today by its state chartering authority. All depositors of this institution will be made whole. As with the resolution of Silicon Vall…
There are several stinkers in KRE, that have lost a significant amount in the last year. NO SVB but there is first Republic.
Even babies like Webster Bank, and Citizens Financial local CT MA community banks are getting tossed out with the bathwater
For what it is worth, the only stock market open today ( until Asia opens in a bit) was Israel
Heavily tech oriented, it was down 3 to 4% but was not open Friday, so this reflects all news since Thursday
IT appears, as I posted elsewhere that SVB had not had a risk officer since Dec 2021. The last one resigned with all her stock. The CEO actively lobbied Fed to avoid being required to do a stress test. Exposed far far more than what is even "adv…
There was some speculation that the block of shares was the chunk that TD Ameritrade owned before the merger. But why sell Friday? All sorta other chatter about Schwab loosing money because people are fleeing their Bank Account for higher interest…
@linter
I transcribed my grandfather's hand scribbled diaries from two business trips he took to Europe in 1938 and 1940
He was in Vienna March 15, 1938 (Anschluss ) and arguing with the desk clerk at the Hotel Imperial about why they had given hi…
@LewisBraham
I agree with "Decent" but in general most news I think is a shadow of it's former self. I pay for anybody that asks for it because I want to support most of them.
There are non traditional online sources that are doing a great job ( J…
@orage
I think Bloomberg said that SVB was just under the $50 Billion limit when the campaign started to raise the limit to $250 Billion. In 12/2022 it was at $210 Billion, so he would probably have started another lobbying campaign to raise the l…
BTW
"Chief Executive Officer Greg Becker sold $3.6 million of company stock under a trading plan less than two weeks before the firm disclosed extensive losses that led to its failure.
The sale of 12,451 shares on Feb. 27 was the first time in mor…
