Shangobango
Well-known member
Bought RF @15.03. Still hawking some of the others.
Anybody Buying Yet? Where’s the Bottom?
- Thread starter NEWHunter
- Start date
Shangobango
Well-known member
Now I have added some C and WFH.
Market Summary > Dragonfly Energy Holdings Corp
3.18 USD−0.37 (10.42%)today
Closed: Mar 14, 5:25 PM EDT • Disclaimer
After hours 3.21 +0.030 (0.94%)
Haha! That's a chit sandwich served on a wooden plank.
3.18 USD−0.37 (10.42%)today
Closed: Mar 14, 5:25 PM EDT • Disclaimer
After hours 3.21 +0.030 (0.94%)
Haha! That's a chit sandwich served on a wooden plank.
SAJ-99
Well-known member
Thanks BHR! I'm changing the Google rating on your newsletter!
Interesting collective mega banking action...
"The banking space sees another rescue deal in just a matter of days, with the nation's biggest banks agreeing to deposit around $30 billion with troubled First Republic Bank (FRC). The big banks -including JPMorgan (JPM), Bank of America (BAC), Citi (C) and Wells Fargo (WFC) - will contribute $5 billion of deposits each. Goldman Sachs (GS) and Morgan Stanley (MS) will provide $2.5 billion each. PNC Financial (PNC), BNY Mellon (BK), Truist (TFC), U.S. Bancorp (USB) and State Street (STT) will each contribute $1 billion.
Billionaire investor Bill Ackman denounced the rescue deal, saying, "Spreading the risk of financial contagion to achieve a false sense of confidence in FRB is bad policy."
Thoughts? Entry Opportunity, Yea/Nay?
seekingalpha.com
"The banking space sees another rescue deal in just a matter of days, with the nation's biggest banks agreeing to deposit around $30 billion with troubled First Republic Bank (FRC). The big banks -including JPMorgan (JPM), Bank of America (BAC), Citi (C) and Wells Fargo (WFC) - will contribute $5 billion of deposits each. Goldman Sachs (GS) and Morgan Stanley (MS) will provide $2.5 billion each. PNC Financial (PNC), BNY Mellon (BK), Truist (TFC), U.S. Bancorp (USB) and State Street (STT) will each contribute $1 billion.
Billionaire investor Bill Ackman denounced the rescue deal, saying, "Spreading the risk of financial contagion to achieve a false sense of confidence in FRB is bad policy."
Thoughts? Entry Opportunity, Yea/Nay?
Stock Picks, Stock Market Investing
seekingalpha.com
I asked a financial advisor friend of mine about his thoughts on today's news. His opinion is that it's either going to get run-on and go to zero or shoot back up to 80 in pretty short order. It wouldn't make any sense to stay at 30-35.Interesting collective mega banking action...
"The banking space sees another rescue deal in just a matter of days, with the nation's biggest banks agreeing to deposit around $30 billion with troubled First Republic Bank (FRC). The big banks -including JPMorgan (JPM), Bank of America (BAC), Citi (C) and Wells Fargo (WFC) - will contribute $5 billion of deposits each. Goldman Sachs (GS) and Morgan Stanley (MS) will provide $2.5 billion each. PNC Financial (PNC), BNY Mellon (BK), Truist (TFC), U.S. Bancorp (USB) and State Street (STT) will each contribute $1 billion.
Billionaire investor Bill Ackman denounced the rescue deal, saying, "Spreading the risk of financial contagion to achieve a false sense of confidence in FRB is bad policy."
Thoughts? Entry Opportunity, Yea/Nay?
Stock Picks, Stock Market Investing
Red-Team 98
Active member
- Joined
- Dec 18, 2022
- Messages
- 306
Added to positions of XLE !
Expect 3 more months of Turmoil.
Dollar cost average the next 3 months into market
Expect 3 more months of Turmoil.
Dollar cost average the next 3 months into market
SAJ-99
Well-known member
Bought some bank etfs this week. Big banks win. FRC is unknowable mess, so I avoid. Small banks will lose. Even some Regionals will lose deposits. Investors are waking up to the losses that were hidden in the HTM assets and revaluing.Interesting collective mega banking action...
"The banking space sees another rescue deal in just a matter of days, with the nation's biggest banks agreeing to deposit around $30 billion with troubled First Republic Bank (FRC). The big banks -including JPMorgan (JPM), Bank of America (BAC), Citi (C) and Wells Fargo (WFC) - will contribute $5 billion of deposits each. Goldman Sachs (GS) and Morgan Stanley (MS) will provide $2.5 billion each. PNC Financial (PNC), BNY Mellon (BK), Truist (TFC), U.S. Bancorp (USB) and State Street (STT) will each contribute $1 billion.
Billionaire investor Bill Ackman denounced the rescue deal, saying, "Spreading the risk of financial contagion to achieve a false sense of confidence in FRB is bad policy."
Thoughts? Entry Opportunity, Yea/Nay?
Stock Picks, Stock Market Investing
I just like seeing all the hot-takes from politicians and influencers (for lack of a better term). Yellen was in front of Congress trying to explain what happened while the member kept harping on depositor losses at small banks.
There are over 4,300 Banks in the FDIC insurance program with 70,000 total branches. The number has come down significantly over the last decade as money goes more digital. There were almost 7,000 in 2009. I’m all for competition, but running a bank when rates are low seems like trying to pick up nickels on the highway.
Reflecting on my own banking activity, it's basically a distribution hub. They use my $ and in return, I receive... Convenience.
Side note/query: I've found Credit Unions seem much more personalized from car to home loans. We have a few cards to build air miles/hotel perks and pay everything monthly via Chase, AMEX, CITI.
Why use the Wells Fargo's, etc? Seems they're in hot water and pissed customer base more often than not. Is there an advantage banks hold over Credit Unions?
It wraps into your comment and the bank ETF world. Why / how are they a long term value for individual interest? Is it the National/International markets our bank $ funnels around that maintains their necessity?
Side note/query: I've found Credit Unions seem much more personalized from car to home loans. We have a few cards to build air miles/hotel perks and pay everything monthly via Chase, AMEX, CITI.
Why use the Wells Fargo's, etc? Seems they're in hot water and pissed customer base more often than not. Is there an advantage banks hold over Credit Unions?
It wraps into your comment and the bank ETF world. Why / how are they a long term value for individual interest? Is it the National/International markets our bank $ funnels around that maintains their necessity?
SAJ-99
Well-known member
Good question. Credit unions tend to hold their loans rather than resell them. That tends to make them more concentrated to the regional economic environment. But for the customer, they are the same and prefer the same function. A larger bank will have more products that might make it appealing to businesses. Years ago banks stopped charging monthly fees for accounts and instead charge for ATM fees, overdraft fees, etc. (Which they get beat up in Congress for charging too). I'm not sure if Credit Unions do the same?
The whole network is set up on a system from the 1970's. Anyone who has ever sent a wire transfer has experience it first hand.
SAJ-99
Well-known member
Most of the rest of the developed world has a banking system that is highly controlled by government. Socialized, utility-like, whatever we want to call it. The US still hangs on to this notion of capitalism in the banking system. Next week? who knows.
Red-Team 98
Active member
- Joined
- Dec 18, 2022
- Messages
- 306
They are not fooling anyone, it’s a government bailout and the added cost by the banks will be passed down to consumers and customers. They think we are fools.
Who would put their money into one of these banks … certainly not me !
Remember Yellen words “ It’s Transitory “
The Big Boy/Girl large bank community are placing deposits to sit in FRC. This is not a Government bailout. Still $ JPM, Citi, etc own though allowing FRC to ride on their $. It's to the advantage of those banks to keep FRC in play vs sink as that directly impacts their own security / $.
"In a statement, the banks said their action “reflects their confidence in First Republic and in banks of all sizes,” adding that “regional, midsize and small banks are critical to the health and functioning of our financial system.”
noharleyyet
Well-known member
Does every bank asterisk the max amount now. *applies to legacy poor performance executive led only
Maybe I missed your intended point. "Transitory" (Yellen's comment she took back about inflation), though using her word, you're speaking of the former government bailouts (2008) to the banking institution - thus "transitory" routing to FRC?
The most recent, if I recall correctly, Biden's ARPA was Small business and individuals - or did that include big (massive companies) as well?
SAJ-99
Well-known member
Those same customers got the benefit from low rates, narrow spreads, and government checks. So
. In the end, the working American pays for everything. Always has, always will. This isn't our first "banking crisis" and perspective is helped by reading up on history.
noharleyyet
Well-known member
Yes, so bail out is not inaccurate, correct?Those same customers got the benefit from low rates, narrow spreads, and government checks. So
SAJ-99
Well-known member
Last auction was 1.2%. This one is might be below 1%.
I think I said in a previous post on the other thread that by my definition, nothing yet has been a bailout, but I don't think there is an official definition. Didn't save shareholders, didn't save debt holders, only saved deposits. If you want to use the word "bailout" when talking about depositors, that is your call. I just think the word has a negative connotation to it with the general public. So far I see nothing that bothers me. Just action to try to keep the system functioning- which is necessary. But doesn't mean I can't change my mind next week.
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