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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…
Bloomberg's Authers and Matt Levine have very good pieces about what went wrong, but they require a subscription ( which I pay as their articles are very good)
In summary, the tech industry in a low interest rate world had gobs of money, which they…
Lots of chatter on web that Biden budget playing to populism while other initiatives (vetoing DC crime resolution, may incarcerate migrant families at border again) indicate he is pivoting to center away from far left "defund the police" and border…
I have found a number of free sites that occasionally come up with something really worth reading. This is about SVB. The insiders were bailing out months ago. The chief risk officer resigned in late 2021 sold all her stock and was not replaced ( al…
Got through paywall, but article, to me , demonstrates that WSJ is a shadow of it's formal self. Little discussion of why IVOL and Kinetics funds have not worked and why PFIX has (although it is down YTD and today).
PFIX and IVOL demonstrate again …
I have used QUSIX and QUSOX since David wrote a nice article about it in 2015. It has beaten the index overall, although it is more volatile and is in about the top 1/3 of int small cap value funds per M*
MFO classifies it as "Int Small cap core" …
I agree there are serious issues with many emerging market countries. A lot of them are stuck with authoritarian corruption that does not improve the investment climate.
China, given it's size and recent aggressiveness will probably have a greate…
Aside from "practical " considerations, ie how much of a hit would I really take, there are the moral ones.
While many people eschew using "moral values" in investments, as everyone has different ethical values, there is a case to make that many …
One of the reasons they are upping the rhetoric is the moves by Biden Administration to crack down on leaking trade secrets, semi conductors, and attempts to "deChinaize" supply chain. The rhetoric provides a distraction and they probably hope they…
I think it is hard to believe that Xi will follow international banking and Finance standards and regulations after seeing what Putin has done to all of above and to accepted moral standards without much adverse consequences. The fact that Russia h…
I know most people will not be able to get past paywall but here is Bloomberg article about missing banker
https://www.bloomberg.com/news/articles/2023-03-06/missing-banker-reignites-fears-of-xi-in-china-s-tech-startups-venture-capital?srnd=premium…
I looked at my EM funds RNWIX was 27 % China. That plus it relative performance put it on the chopping block.
It is hard to screen for % China in most fund screeners, including MFO. M* premium screener lumps China into "other", although with a sp…
Wilson noted the gap between reported earnings and cash flow is the widest in 25 years, driven by excess inventory and capitalized costs that have yet to be reflected.
Be careful is right.
Remember what happened to poor Jerry Kosinski
His suicide note read: "I am going to put myself to sleep now for a bit longer than usual. Call it Eternity."[
I think that the drive for no till farming, the start up mentioned that claims to eliminate nitrogen fertilizer, and "precision planting " are driven by drought conditions, falling water tables and the need to reduce nitrogen runoff and be more ecol…
@ Crash
Sorry to hear about your sciatica. It sound permanent? PT is relatively ineffective for bad disc disease if the pressure on the nerve root cannot be relived. Typical ordinary sciatic gets better as the extruded disc material dries out and…
Bloomberg's John Authers had a very good discussion of SI yesterday. It is behind a paywall, but the bottom line as I sorta understand it is that in addition to this FHLB loan, the bank had large portfolio of Bonds a lot of which were on the books a…
