OV9

Definitely not. I’m waiting for them to get back to £5, so maybe by the time I retire.

Dave!

Do we buy the dip today lads?

Have you seen it ?

I asked ChatGPT to build an algorithm, considering financial risk and bank collapses and am now up 100k Rupees, ready to retire into a mud hut in central Isle of Wight.

Despite a dip on Friday, I’m 45% up on my RR shares, I expect everyone here to go on holiday in far flung places to aid my share price.

One team one dream, Daddy wants a Unimog!!

Dave!

Yes, well - the last couple of days have been interesting. Biggest bank collapse since '08. Clients freaking out about exposure to SVB.

Who would have thought that printing money like its gone out of fashion then ramping rates through the roof to counter rampant inflation would cause clusterfuck of a mess. I mean these central bankers are fucking idiots. Almost as stupid as some pricks at SVB parking 80bn in MBS returning 1.5% yield. Morons.

I also like how regulators think ensuring banks are adequately capitalised against exposures is sufficient to allow them to ignore good old '29 style bank runs and failures based purely on deposit withdrawals...

Roku has half a billion in cash in SVB - I mean how sick would you be feeling now...

GG, what is the underlying problem that caused the collapse of SVB? Is it exactly the same as Northern Rock? You’d have thought being obliged to hold higher cash reserves would prevent a similar run, but it’s never 100% safe until there’s enough cash to cover all of the deposits of course.

ETA: of course there’s already a comprehensive Wikipedia page so I’m reading that.

V8Granite wrote: Sat Mar 11, 2023 10:53 pm Despite a dip on Friday, I’m 45% up on my RR shares, I expect everyone here to go on holiday in far flung places to aid my share price.

One team one dream, Daddy wants a Unimog!!

Dave!

Good that.

Jobbo wrote: Sun Mar 12, 2023 7:18 am GG, what is the underlying problem that caused the collapse of SVB? Is it exactly the same as Northern Rock? You’d have thought being obliged to hold higher cash reserves would prevent a similar run, but it’s never 100% safe until there’s enough cash to cover all of the deposits of course.

ETA: of course there’s already a comprehensive Wikipedia page so I’m reading that.

I understand they held a lot of their reserves in US Treasury Bonds.

Liquidity issues meant they had to sell them at a loss as interest rates have risen.

Hopefully isolated poor risk management.

Basically that. FRB meant they could loan out 90% of their deposits etc, so they only had to hold a small amount of cash on hand. When the interest rates went up they needed more cash to pay out their depositors but most of it is tied up for years at shitty interest rates. Some people got wind of all this and started advising clients to pull their money. The result is a shitty mess.

Central bankers have been fvcking awful for the last 15 years. They've printed money like there's no tomorrow, ramped up rates to try and counter supply side inflation and completely ignored the asset price bubble of the housing market. AGAIN.

FTSE going up or down tomorrow?

Who knows how to short banks?

Just flicking through the twitter memes and some things raised a smile. Forbes voting SVB as one of the best banks last week. Then some analyst saying that SVB is still a good buy as a contrarian strategy on Thursday night.
There’s contrarian and then there’s just being plain stupid.

Mito Man wrote: Sun Mar 12, 2023 5:24 pm Just flicking through the twitter memes and some things raised a smile. Forbes voting SVB as one of the best banks last week. Then some analyst saying that SVB is still a good buy as a contrarian strategy on Thursday night.
There’s contrarian and then there’s just being plain stupid.

Does you dad have any crypto?

Broccers wrote: Sun Mar 12, 2023 5:33 pm

Mito Man wrote: Sun Mar 12, 2023 5:24 pm Just flicking through the twitter memes and some things raised a smile. Forbes voting SVB as one of the best banks last week. Then some analyst saying that SVB is still a good buy as a contrarian strategy on Thursday night.
There’s contrarian and then there’s just being plain stupid.

Does you dad have any crypto?

Nope.

Mito Man wrote: Sun Mar 12, 2023 5:51 pm

Broccers wrote: Sun Mar 12, 2023 5:33 pm

Mito Man wrote: Sun Mar 12, 2023 5:24 pm Just flicking through the twitter memes and some things raised a smile. Forbes voting SVB as one of the best banks last week. Then some analyst saying that SVB is still a good buy as a contrarian strategy on Thursday night.
There’s contrarian and then there’s just being plain stupid.

Does you dad have any crypto?

Nope.

Do you ?

Yes.

Mito Man wrote: Sun Mar 12, 2023 6:01 pmYes.

I await RichB and Sweatyjumper asking you your balance imminently.

Mito Man wrote: Fri Mar 10, 2023 1:56 pm Do we buy the dip today lads?

Back up again, nearly.

Broccers wrote: Sun Mar 12, 2023 6:05 pm

Mito Man wrote: Sun Mar 12, 2023 6:01 pmYes.

I await RichB and Sweatyjumper asking you your balance imminently.

I’m also curious as I haven’t looked at it since buying it.