Halls of Shrewd'm / US Policy❤
No. of Recommendations: 3
Its only a matter of time, many troubled banks will be disclosing bad loans not just duration problems. Three of the troubled banks are headquarter in Cali , one in New York. It's close to a certainty, imo, that material write offs are coming and have not yet been disclosed. Federal Money market funds yielding 4.5-4.75 percent are a safe place to park funds while waiting for the inevitable, next shoe to drop. Based on where the first four American troubled banks are located, obviously , the usual suspects and causes , have caused the bad paper. Watch. In an emergency deal brokered by Swiss authorities, UBS (NYSE:UBS) agreed to scoop up longtime rival Credit Suisse (NYSE:CS) for $3.25B, as regulators attempt to stave off a banking crisis that's quickly spreading across global markets. Without a deal, Credit Suisse would've likely collapsed this week, spreading further financial contagion that began in the U.S. with the implosion of Silvergate Capital (SI), Silicon Valley Bank (SIVB) and Signature Bank (SBNY) (First Republic (FRC) is also facing trouble with additional cuts to its ratings). Further problems were seen later in the week as Deutsche Bank (DB) shares tumbled as the cost of default insurance spiked, while AT1 debt remained under pressure following a $17B write-off that shocked bond investors. Here it comes, again, in spades. Interestingly, so far, Buffett and Berkshire, haven't yet publicly disclosed any major moves, in the banking space. Perhaps over the weekend??
No. of Recommendations: 12
No. of Recommendations: 3
Hummingbird says, "nothing."
The post of a Zen master!
'Always ask yourself: "What will happen if I say nothing?' ~Kamand Kojouri
No. of Recommendations: 0
No. of Recommendations: 1
Good morning ,genius, hbird and I have been chatting brk for 20 years in various locations. With all due respect, do you believe your post was more substantive than hers?
No. of Recommendations: 0
A friendly reminder of what's coming, imo. Those four banks were very involved with the crypto space. A couple of guys in their 90s, who I respect and admire , have referred to aspects of, that space, as rat poison.
https://www.washingtonpost.com/solyndra-politics-i...
No. of Recommendations: 2
<Good morning ,genius, hbird and I have been chatting brk for 20 years in various locations. With all due respect, do you believe your post was more substantive than hers?>
Nope, just pointing out that "nothing" is the ultimate in sophistication!
Nothing is where Nirvana can be found...
'Sitting quietly, doing nothing,
Spring comes, and the grass grows, by itself.' ~Basho
Have a great weekend all!
No. of Recommendations: 0
Genius, you make me smile, I like that. If you have any interest in gambling , betting odds, etc, and some funny real world, Wall st stories, read my book. I make one dollar, lol, and you will get a few good laughs. I haven't shared this much but you, are special. Enjoy. '' How I turned $700 into millions gambling in Vegas and bringing small caps public in the Wall Street shark tank. '' it's on Amazon, H Cohen. See ya.
No. of Recommendations: 7
indeed... I actually sometimes feel rather sad for these sports folk... lifetime of exploitation..the bread and circusses never do end , do they :-(
i remember once I was on a walking night safari , and I fell a little behind our small group... the guide noticed within minutes and literally verbally tore my head off....."where there is prey, there are predators " a young man with a wonderful botswanan accent , berating this clearly older lady .. I hear his voice to this day , teaching me a life lesson.
