From CNBC:
Mortgage rates tumble in the wake of bank failures
The average rate on the popular 30-year fixed mortgage dropped to 6.57% on Monday, according to Mortgage News Daily. That’s down from a rate of 6.76% on Friday and a recent high of 7.05% last Wednesday.
Mortgage rates loosely follow the yield on the 10-year Treasury, which fell to a one-month low in response to the failures of Silicon Valley Bank and Signature Bank and the ensuing ripple through the nation’s banking sector.
In real terms, for a buyer looking at a $500,000 home with a 20% down payment on a 30-year fixed mortgage, the monthly payment this week is $128 less than it was just last week. It is still, however, higher than it was in January.
So what does this mean for the spring housing market?
In October, rates surged over 7%, and that started the real slowdown in home sales. But rates then started falling in December and were near 6% by the end of January. That caused a surprising 8% monthly jump in pending home sales,which is the National Association of Realtors’ measure of signed contracts on existing homes. Sales of newly built homes, which the Census Bureau measures by signed contracts, also surged far higher than expected.
While the numbers for February are not in yet, anecdotally, agents and builders have said sales took a big step back in February as rates shot higher. So if rates continue to drop now, buyers could return once again — but that’s a big “if.”
First.
You lazy stay at home workers, get up!
RutRoh! Credit Suisse.
There should be more scrutiny of Peter Thiel and Bill Ackman for yelling fire in a crowded theater in this SVB collapse
@SaraEisen
TBTF trade is on.
Tweet this morning..
Credit Suisse offering a 6.5% annual rate on new three-month deposits of $5 million or above – and a rate as high as 7% for one-year deposits — far above matched maturity Bills, and suggesting that to attract a client, the bank is forced to eat a GIANT loss.
Just a repeat from my last post on the last thread. The Swiss are sitting on 1,000 metric tons of Nazi gold, they are the 7th largest holder in the world for a tiny country of 8.7 million people.
Sell it all off before we start printing money here in the USA to bail out their failed bank.
https://tinyurl.com/2rk4733u
Just remember last time Bernake opened up massive currency swaps with the Swiss and the EU.
1 Swiss Franc equals 1.10 United States Dollar
History Rhymes… from a paper on the Fed currency swap lines. We gave them Dollars they gave us an IOU.
“The Fed did not pay interest on the foreign currency that it received in the swap. The
Fed, however, did agree to leave the foreign currency with its counterpart central bank; this sidestepped monetary control issues that might have bedeviled the foreign central bank if the Fed had withdrawn the reserves and lent them in the market.”
The average rate on the popular 30-year fixed mortgage dropped to 6.57% on Monday, according to Mortgage News Daily. That’s down from a rate of 6.76% on Friday and a recent high of 7.05% last Wednesday.
Let the feeding frenzy continue. List your house today, agree on a sale price tomorrow.
Another point to remember European central bank borrowing under the FED swap lines ultimately far outstripped their own reserve holdings.
https://fred.stlouisfed.org/series/SWPT
It’s always a liquidity issue, never solvency.
Government says taxpayers will not pay for the bailouts. They say the banking system will. Scumbag government, taxpayers and bank customers are approximately the same group of people.
Treating the long-term assets of these banks as being valued at par for collateral purposes means a lot of buying power. Buying power is inflationary.
I think it turns out I have mild PTSD from the government responses to GFC. Hearing this nonsense again is actually and literally causing me nausea. I suppose it’d be the same if Biden started barnstorming around about WMD’s in Iran or something.
Can we please get the PoPo to kneel on the necks of the officers of these banks.
I’d pay to see that. Sleep well too.
Contrary to Eddie’s “NY Metro prices are resilient against nuclear war” points . . .
The below 3-family has a minimum rent roll of $4,000 – $4,500. Prospect Park doesn’t have rent control. They are asking $500k. So, you’re in spitting distance of 1% rule for a property that access to Coastal USA job markets.
In Prospect Park, you’re just contending in the short-term with socioeconomic demographic decrease. In the long-term, you are contenidng with the massive unfunded liability of what kind of taxation must be levied againt all NJ properties after the rising income tax, sales tax, and other state fees drive off a bigger-and-bigger number of the highest earners.
Based on the listing, this price is lower than it would have been a few months ago, to my sensibilities.
340 North 11th St.
Prospect Park, NJ
$500k ask
3-family
4 Bedrooms, 3 Baths
Driveway
Backyard
https://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=23007178&openhouse=true&dayssince=15&countysearch=false
I’d pay for it.
Rally on, Wayne.
Rally on, Garth.
Maybe if the bank officers were resisting arrest or trying to grab the tasers/guns from the officers. Or are you now selectively in favor of police brutality? I guess you can just go to your local bank and commit battery on your local bankers if you have something you need to get out of your system. Better yet, visit the NY Federal Reserve office, the root cause of the rot.
Yellen’s has my respect, she can play hard ball. I’d say sleepy Joe is raging right now.
Sleepy Joe did her down over the SVB bailout when she said publicly it would not happen.
Today we get this.
The Treasury Department will comply and release suspicious activity reports (SARs) generated by the Biden family and their associates’ business transactions to the House Oversight Committee,
Again sorry Joe slapped Yellen down as she said no SVB bailout. Governor Newson and a whole host of others called the White House screaming for a bailout over the weekend.
Now we find out Yellen is handing over the Biden’s bank records to the house committee?
Uh oh
https://www.dailymail.co.uk/news/article-11857123/Wall-Street-expert-predicts-Credit-Suisse-bank-fold.html#article-11857123
I’m sure we will be bailing them out. They are tbtf. I’m surprised they lasted this long. I remember coworkers complaining about cs being just as bad as deutsche, just in different ways.
Hold on, hold on.
Wall Street Expert?
Robert Kiosaki? Give me a break.
That Prospect house looks very European.
For five years I kept asking myself why is this guy on TV all the time and why was he hired to run CS? Always fancy consultant talk from him with not much substance.
https://en.wikipedia.org/wiki/Tidjane_Thiam
Why not? You had a celebrity President on a TV show called the Apprentice.
For five years I kept asking myself why is this guy on TV all the time and why was he hired to run CS? Always fancy consultant talk from him with not much substance.
Or are you now selectively in favor of police brutality.
No, but since we aren’t going to fix it anyway we might as well use it for good things.
GRIM – Kiosaki was like the number one xerox copier salesman in Hawaii in 1979. He is more than qualified he even franchisees his Rich Dad seminars.
You too can inspire Dadd to be rich too for the low low franchise free of $25,000.
Is Tom Wu still around? His commercials were legendary.
It’s only millions. Just as corrupt as the Orange headed one.
Nothing to see here.
Treasury FINALLY hands over Biden family bank records to Republicans: Files reveal Joe’s associate got $3M from Chinese energy firm two months after he left as VP – and family members received thousands
3B – It is Very European the middle eastern renters there probably prepare halal goats in the basement.
Is Tom Wu still around? His commercials were legendary.
Chris Rock told the same story on his special. Deny it all you want that is how it works.
Juice Box says:
March 14, 2023 at 9:57 am
3B – It is Very European the middle eastern renters there probably prepare halal goats in the basement.
Or film them for Only Fans.
No One – Nestle needs chocolate, Thiam”s family controls the trade, every day thousands of young boys in the Ivory Coast slave away hauling down the beans from the trees. I think they get 35 cents a ton.
Can we deep fry this guy? Or put him on jackhammer duty, rt 80, 18 hrs a day for the next 30 years?
When a restaurant fries up a chunk of chicken breast, covers it in Buffalo sauce and calls it a wing, is it a harmless little issue of semantics, or consumer fraud?
A new federal lawsuit makes no bones about it: The suit alleges the practice is fraud and companies like Buffalo Wild Wings are duping customers by selling chicken wings that aren’t in fact wings.
Aimen Halim of Chicago filed the lawsuit against Buffalo Wild Wings on Friday, saying he went into the Buffalo Wild Wings location in Mount Prospect, Illinois back in January and ordered “boneless wings.”
“Unbeknownst to plaintiff and other consumers, the products are not wings at all, but instead, slices of chicken breast meat deep-fried like wings,” the lawsuit reads. “Indeed, the products are more akin, in composition, to a chicken nugget rather than a chicken wing.”
Why go through all this trouble for a few million when all you need to do is become a banker, click a few keys, and steal twenty times as much?
Whoever said crime doesn’t pay isn’t doing it right. These guys aren’t doing it right.
A gunpoint home invasion robbery in Cresskill nearly six months ago was committed by two accused members of a massive auto theft ring smashed by New Jersey State Police, Bergen County Prosecutor Mark Musella said Monday in announcing charges against them.
James Lanier and Carlos Sanchez of Newark are both 24 and have been running together for some time now, records show.
Both were among several defendants arrested during a November 2022 State Police takedown of a ring led by Sanchez that authorities said stole more than 30 high-end vehicles – including BMWs and Land Rovers – that were worth millions.
You will bail him out- and you will like it. Now pull down your big boy pants and take it like a man. Or a feminist woman if you prefer equality.
Sincerely,
The American Government.
Thiam was appointed the chief executive officer (CEO) of Swiss investment bank and financial services company, Credit Suisse Group AG on 10 March 2015.[1][32] An hour after his appointment was announced, the company stock increased by 7.5%.[1] During his first two years, he led the bank through a restructuring process cutting costs and jobs.[33][34] His compensation was US$9.9 million in 2016 and $10.2 million in 2017
Seems like the Swiss banks lost their competitive advantage vs global peers after Switzerland ended their banking secrecy laws. Maybe that was their one key reason to exist, now gone. Does Panama still work?
Just go to South Dakota. America has stolen the Swiss secret and placed it in the American West. America has the best criminals in the world, bar none.
No One says:
March 14, 2023 at 10:29 am
Seems like the Swiss banks lost their competitive advantage vs global peers after Switzerland ended their banking secrecy laws. Maybe that was their one key reason to exist, now gone. Does Panama still work?
https://www.pbs.org/wgbh/frontline/article/pandora-papers-tax-havens-south-dakota/
My Fellow Americans
Who cannot afford health insurance. Here is your free how to do it yourself healthcare manual from the US Government. We have spent your money on Ukraine and bailing out corrupt bankers, but we want, I mean need, for you to continue living healthy and productive lives in order to feed our tax gobbling machine.
https://archive.org/details/SOFMH2001/page/n6/mode/1up
I wish to thank you all for helping me build the Metaverse, but unfortunately, you are not elite enough to live in it.
Toodles
Meta staff bloodbath continues as Zuckerberg confirms another 10,000 layoffs – 13% of its remaining staff – as he warns ‘new economic reality will continue for many years’
Jeezus dude. You start new meds? Wtf
I want a new drug, one that does what it should
One that won’t make me feel too bad
One that won’t make me feel too good
I want a new drug, one with no doubt
One that won’t make me talk to much
Or make my face breakout
One that won’t make me nervous
Wonderin’ what to do
One that makes me feel like I feel when I’m with you
I’m alone with you
I’m alone with you, yeah, yeah
Gotta admit, boneless wings makes one think that they are wings that have been deboned. However after eating one of them it’s easy to recognize that they are “tenders” or “nuggets” rather than deboned wings. If that bothers the customer enough, they could ask the waiter to refund their wings.
Is this the guy who searches for class-action lawsuits against restaurants everywhere?
Like saying it would be life-threatening to drink a Big Gulp in one big gulp? Or finding that a chocolate shake doesn’t conform to government regulations of chocolate?
I’m ready for the class action against “truffle oil” or “truffle fries”. There’s no truffle in them, they are an upcharge, and I hate them anyway.
I don’t think buffalo wings have any buffalo product in them either. Guess you could sue about that.
Just get a job. Work from home if you like.
Lazy American, always trying to skirt the actual work.
No One: There is some couple in NJ, who is suing Barilla Pasta for false advertising. On the box it says it’s Italys number one pasta, but the pasta sold here is made here. They said that statement and the Italian flag on the box, is false advertising, because the pasta is made here and not in Italy like people would assume. What nonsense!!
Gotta love the church.
REVEALED: Orthodox rabbi accused of raping eight of his nine adoptive sons is Mexican-American and grew up as an altar boy in Catholic church – as his eldest son DEFENDS him
Scares me, but I think he is correct. We will have little growth, or worse, we will experience a battle with deflation. Being a stock picker is prob your only chance at real growth next couple years. Index funds are going to prob just stagnate like they have been doing for almost a year now.
“Meta staff bloodbath continues as Zuckerberg confirms another 10,000 layoffs – 13% of its remaining staff – as he warns ‘new economic reality will continue for many years’”
Finally a solution for all those empty NYC Office buildings.
“Mayor Eric Adams will open another two emergency migrant shelters in New York City – one in what was formerly a 24-hour McDonald’s – as illegal immigrants continue to stream into New York.
The mayor has openly expressed his frustration at the lack of meaningful assistance provided by the Biden administration to help curb the issue that has burdened the city’s resources and residents for months.
Now, two more migrant shelters are set to pop up in a busy part of town. The vacant Candler Tower office building in Times Square that was once home to a 24-hour McDonald’s will now house hundreds if not thousands of the city’s illegal migrant population.”
Perhaps give them some free tickets to see the Lion King it’s the show of a lifetime and it’s only next door!
https://tinyurl.com/38h8kvy4
Bruce Springsteen ticket’s in Philly Thursday night this week. What a steal $2,403.00 for General Admission to the pit.
Perhaps I should head down there and break a few hips in the mosh pit..
https://tinyurl.com/2ynfdthj
An Internal Affairs investigation found that none of the deputies did anything wrong, either. Both Holland and Pope have since been promoted to sergeants.
https://www.ktvu.com/news/alameda-county-wanted-to-pay-black-family-700k-before-8m-jury-verdict
I’m now getting 5.9% on my staked ETH position. Honestly, how can you beat it? You have a nice yield combined with a good chance for high appreciation if you hold for years.
I assume the one defending was the one spared the pee-pee in the poo-poo hole?
Speaking of Chicken.
Straight out of Louisiana the popular chain Raising Cane’s is opening chicken shacks in NJ now. Burlington, Cherry Hill and Marlton.
Chicken FINGERS are their #1 menu item, the real ones with nails and all….go and order the three finger combo, and ask for the middle finger special too.
I will gladly be put in handcuffs for about 70 minutes for an 8 million dollar payout. Where do I sign up? Is there a bonus if they taser you a few times too?
Holy cow SLG and VNO….if you need any indication on WFH look at the multiyear daily stock charts there…..
It’s only a matter of time before it’s gone….you would be smart to buy commercial while it’s beat the f down below what its actual assets are worth. You guys think what you want, I know what is going to happen…just look below. Pay attention do the meta analysis below…a tech company saying no, it sucks.
“Quiet streets in downtown Washington, DC, have the city’s Democratic mayor joining Republicans in a call to end teleworking.”
https://www.bloomberg.com/news/features/2023-03-09/wfh-federal-employees-have-republicans-some-dems-demanding-return-to-office
WFH days over for Meta? What Mark Zuckerberg said amid 2nd round of layoffs
2 min read .
Meta Platforms Inc., formerly Facebook, is urging its employees to return to the office after previously promoting remote work during the pandemic. CEO Mark Zuckerberg on Tuesday stated that early analysis suggests engineers who started working in-person before switching to remote or remained in-person performed better than those who started remotely.
https://www.livemint.com/news/world/wfh-days-over-for-meta-what-mark-zuckerberg-said-amid-2nd-roundoflayoffs-11678807511478.html
If you currently work remotely and didn’t do so before the pandemic….enjoy your last hoorah….tic…tic…tic…only a matter of time.
I don’t know what a staked ETH position is, but if it cannot be beat then I guess you should put everything into it. Where exactly are you “staking” it?
No One – He is on a wondrous mystical journey to wealth and prosperity. How it works is you give them your magical coins from the metaverse dimension and they pay you with other magic tokens aka coins.
Think of it a a reverse mortgage, you sign over the deed and they pay you out monthly etc until we’ll you are six foot under or they are bankrupt, which ever comes first. Either way your heirs do not get the property or in this case the magic coins.
Took my son back to school this weekend, was home for 2 weeks after the surgery. Missed 1 week of school the other was spring break. Luckily there was no ligament damage. School has been great, they set a bus up to pick him up outside is dorm and drop him off at class. Still has pain and trouble sleeping but should get better with time.
Phoenix, If I knew how to post a pic I would, 2 plates 15 screws. Fibula splintered so it has a longer plate.
Thank you for the reminder. In celebration of three years of working at home, I think I will watch another episode of Full Swing on Netflix while my mouse juggler does the heavy lifting.
Being a trusted corporate knowledge worker with a skill set I worked years to achieve has its privileges.
Hope you are having a most excellent week babysitting adolescents! And THANK YOU for your service!
The Great Pumpkin says:
March 14, 2023 at 12:30 pm
If you currently work remotely and didn’t do so before the pandemic….enjoy your last hoorah….tic…tic…tic…only a matter of time.
11:09 missed his very last show (Huey Lewis) he played at the Ventura Co. fair.
Really sad I missed that one!!
Aww, Bobby wants a cookie?
Don’t cry when the layoff slip hits…..aka come back to the office or goodbye.
Give it a look…your choice….bash it or take advantage. I have no problem buying ETH, keep thinking it is useless and a con job. I’m not wasting my time trying to enlighten you.
No One says:
March 14, 2023 at 12:33 pm
I don’t know what a staked ETH position is, but if it cannot be beat then I guess you should put everything into it. Where exactly are you “staking” it?
Bob, this is all that matters. Companies can’t sustain themselves with new workers who start remotely. Takes years of experience and learning from others on the job to be able to get in your 40s and 50s and easily transfer to remote. You guys just don’t get it…I have been saying this for 2 years and you laugh at me. Yet, here is a hardcore tech company that embraced remote at first and now is backtracking….pumps was right.
“CEO Mark Zuckerberg on Tuesday stated that early analysis suggests engineers who started working in-person before switching to remote or remained in-person performed better than those who started remotely.”
I am absolutely CRUSHING IT in my staked employment position!
I already showed you case studies on failed remote attempts by IBM and Yahoo….they fell on their face competing with other in person companies. But this time is different, right? I said right? Wake up and use your critical thinking skills before you mock me. Why is every major tech company trying to get their employees back in the office? Why? They know their long-term survival depends on it. Wake the f up.
Hi, I’m Bob….I like to mock pumpkin because I don’t agree with him. Get a life. You have anything of value or going to keep going with the baby chit you immature old man.
“Being a trusted corporate knowledge worker with a skill set I worked years to achieve has its privileges.”
“Aww, Bobby wants a cookie?”
Sounds like ‘Bobby’ has a whole jar brimming with cookies. Not sure he needs another lol.
Yes. This time is different. Non unionized, corporate white collar workers with in-demand skill sets have more leverage than at any time in history. And companies can rid themselves of unproductive real estate costs and other overhead while still meeting objectives.
In the real world, talent, like money, can and does go to where it is best treated.
Enjoy your cookies, my friend. It seems especially painful for you to not be able to enjoy the benefits of this movement the way others have.
Bob’s right. Just sayin’
Though economies can die quickly.
Tenure is a nice velvet handcuff, but it can ensure cash flow (albeit limited) through
A downturn. Not enough to cover a household in NJ though. NJ is a two earner locale.
It’s becoming painfully obvious that they overhired workers over the last 2 years. A lot of these people were at home doing chit. Hope it doesn’t happen to you…since you are so accomplished.
Like I said earlier, I would be nervous if I held a white collar position right now at some corporation where I currently remotely work. Good luck. Writing is on the wall. Read this article….if you think I am full of chit.
https://fortune.com/2023/03/10/google-over-hired-talent-do-nothing-fake-work-stop-working-rivals-former-paypal-boss-keith-rabois/
Bob says:
March 14, 2023 at 1:46 pm
Yes. This time is different. Non unionized, corporate white collar workers with in-demand skill sets have more leverage than at any time in history. And companies can rid themselves of unproductive real estate costs and other overhead while still meeting objectives.
In the real world, talent, like money, can and does go to where it is best treated.
Agreed the settlement amount is crazy, at least 100x larger than it should be. Even crazier is that I guess there’s no settlement amount too high to actually effect change in these gov institutions. As it will always be, unless and until the individuals responsible and those that train/oversee them are fired and thrown in jail (if applicable), steady as she goes.
Juice Box says:
March 14, 2023 at 12:09 pm
I will gladly be put in handcuffs for about 70 minutes for an 8 million dollar payout. Where do I sign up? Is there a bonus if they taser you a few times too?
HOUSTON — The grass (or pavement) is always greener. Plenty of people who live in cities dream of one day packing their bags and retiring to a much more natural setting filled with wide open spaces, but many residing in more rural regions often wonder about life in a big city. While both settings have their ups and downs, researchers from the University of Houston are encouraging more people to pack up and head toward more urban areas.
Their study finds that Americans who live in rural areas tend to be more anxious and depressed, less open-minded, and more neurotic. Additionally, people living “in the country” displayed lower levels of life satisfaction and less purpose, or meaning in life, than those living in urban areas.
Importantly, the project also highlights disparities in access to mental health services as a potential major factor driving these psychological differences.
Mental health resources are disappearing in the countryside
Since 2010, there has been a surge in rural hospital closures, contributing to a reduction in the health care provider workforce – including, of course, mental health professionals. Close to 85 percent of all rural counties are dealing with a mental health professional shortage, despite rural residents actually requesting more psychological services.
“It will be critical to improve access to psychological services in remote areas and to identify how characteristics and values of rural communities can be leveraged to promote positive psychological health,” says Olivia Atherton, assistant professor of psychology, in a university release.
The stuff is raw sewage. Tasteless breading sopping wet with grease.
Juice Box says:
March 14, 2023 at 12:00 pm
Straight out of Louisiana the popular chain Raising Cane’s is opening chicken shacks in NJ now. Burlington, Cherry Hill and Marlton.
On Credit Suisse, my bet is the Swiss Government will act if they become insolvent. Probably the old good bank, bad bank routine and a shotgun wedding with their archnemesis UBS that way next time they only will have one steaming pile to bail out. CS and DB are both dead men walking they have been kept afloat for the last decade through machinations of the central banks.
The issue with the Swiss Banks is they expanded outside of their core competencies, for a long time they took money form the bad guys and hid it, very lucrative and it was operationally a pretty easy business. When they decided to venture outside of this business moving into global wealth, investment banking, etc they quickly found it was a much more difficult business and they actually had to compete with other companies. The customers wouldn’t just kine up to throw money at them, companies looking for an advisor for an M&A deal are a little more picky when choosing a bank than 3rd world dictators/tax cheats trying to stash their ill gotten gains.
In all honesty the Swiss banks are operationally atrocious not that the Americans or other Europeans are any sort of prize but the Swiss take the cake their international business runs like a soviet tractor that’s been stuck in the mud for 30 years.
Raising canes
Only sells chicken fingers and one kind of sauce. Choice of thick toast or coleslaw. The meals with 3 or 4 fingers you get both.
First Boston was a kick ass company. When it was CSFB, that platform had serious syndication abilities. When I worked Treasury, the bulge bracket was a force.
JCer says:
March 14, 2023 at 3:03 pm
. The customers wouldn’t just kine up to throw money at them, companies looking for an advisor for an M&A deal are a little more picky when choosing a bank than 3rd world dictators/tax cheats trying to stash their ill gotten gains.
No One: I’m sure this gives you a little smirk.
https://www.cnbc.com/2023/03/14/moodys-cuts-outlook-on-us-banking-system-to-negative-citing-rapidly-deteriorating-operating-environment.html
Yeah. Yeah. Bad banks. You guys have been naughty. We are going to take away your bouncy ball until you behave.
3:19 my uncle (mom’s brother) with head of research at First Boston.
Eat more Chikin.
Tyson Foods to close two chicken plants, lay off 1,700 workers…The company’s plants in Van Buren, Arkansas, and Glen Allen, Virginia, will close May 12.
3:28 “was” Head….
“First Boston was a kick ass company”
I did some time in FP way back in the day.
Trump defaulted on a huge bond debt back then…
chi and then the Swiss got their hands on it and tried to “integrate” it with their existing business and also took on stupid amounts of risk to “grow profits” and all costs.
Viral chicken chains are the worst. All of them. If you want good fried chicken, head over the Philly Reading Terminal Market.
https://www.yelp.com/biz/ma-lessies-chicken-and-waffles-philadelphia
“Cathie Wood has received the biggest vote of investor confidence since her flagship strategy was near peak of its popularity in the cheap-money era bloomberg.com/news/articles/… @SamJPotter Biggest vote of investor confidence? Or betting on Fed pivot with something that will move?”
“People have claimed that $ARKK is the Dot Com Bubble basket of stocks. OK, I’ll entertain that thought. What happened if you bought $QQQ after the crash and held for 20 + years? You would have made a killing. That’s what’s happening. July 2002, QQQ is $20, now it’s $290.”
“The problem with $QQQ is WAS just like ARKK back in the day but now it’s just turned into 38% similar to theS&P 500. Owning $SPY and $QQQ is no longer diversification. It’s duplication.”
When is her fund going to zero and folding up? Asking for a friend.
She will lead next bull market whenever that comes. Not even a debate.
The repricing of the Federal funds rate for December 2023 rate has gone from 5.5% to 3.8% in a week. Prob I’ve never seen a move like that (that fast) in my life. It also explains the relative strength in tech, gold and even bitcoin as interest rates get repriced.
If the Fed doesn’t suppprt the market soon by cutting rates the equity markets will crash.
Powell had better get his pivot hat on and fast.
“People have claimed that $ARKK is the Dot Com Bubble basket of stocks…What happened if you bought $QQQ after the crash and held for 20 + years? You would have made a killing….July 2002, QQQ is $20, now it’s $290.”
Can’t believe I’m responding to the cut and paste idiocy but just for the record…
The above returns, which are enhanced by selectively starting at the low, equate to 14% p.a….
Pretty much exactly where public small cap high risk equities ought to be, and less than the long term return of top tier managers of such assets without selectively engineering the starting point….
For the board, no more responses to him, I promise. I only engaged as he was tossing money that would be real to his kid in the future. He’s full tilt again…Hey, I tried….
I have a gas station chicken place by me it’s awesome.
https://myclaudies.com/
But lefty, you missed the point. We are at that starting point now…we are at the lows. So the comparison holds.
“The above returns, which are enhanced by selectively starting at the low,”
I don’t see how you lose money DCA into ark funds now, and then selling the top of the next bull when everyone is drunk of the money they are making.
How much did you buy?
Greg Brockman’s GPT-4 livestream was pretty neat.
Worry yet?
https://twitter.com/emollick/status/1635700173946105856?s=20
Left: Sometimes it takes multiple efforts.
Grim, no worries the lawyers will make sure it will never be used in court.
Everyone else?
I said this the other day…guess others are starting to see the big picture. Makes no sense.
“If you have $1 million at 1 bank, then only $250,000 of it is insured by the FDIC.
If you have $250,000 at 4 banks, then $1 million of it is insured by the FDIC.
This is the logic that runs the current banking system.
We need a reform or this systemic collapse will continue.”
https://twitter.com/kobeissiletter/status/1635499596196528128?s=46&t=0eaRjeKWHSIY8WCyPT4KMg
“But lefty, you missed the point.”
You’re missing it. Not ‘killing it’. From bottom to top, relatively normal risk adjusted LT returns.
Like buying a 20 year bond yielding 5% and ‘killing it’ because you earned….5% p.a….
Lefty,
If you were a high net worth individual. Buying 20 year bonds at 5% is winning the super bowl. These rates aren’t sustainable. Maybe i am wrong, just my humble opinion. No disrespect to you.
JFC, that’s not the point…I’m done. I know you’re trying, but I’m done LOL.
And lefty…i have stopped my buys in DNA. Was going to go for 20k shares as my target, but took some risk off the table after listening to you. Not really sure what I want to buy right now…do want to build a position in arkw and arkg as they are in sectors that will be the “it” thing of the next boom when it comes. These sectors should grow big time increasing your odds of hitting on a DNA.
Recent developments caused the US Treasury cash balance to be drawn by over $135B just in the last 3 days.
The largest 3-day decline in 1.5 yrs.
The government cash balance is running low, and this source of liquidity is drying up.
The Fed might need to step in soon.
Note that this recent decline is as of last week, and the updated number is likely to be even lower today.
https://twitter.com/tavicosta/status/1635786271829417984?s=46&t=0eaRjeKWHSIY8WCyPT4KMg
Cathie understands it better than you and I. I am humble enough to admit it, are you? She’s not perfect, but she is an expert at what she does. Damn good at it.
“While the US banking system was seizing up in response to bank runs threatening regional banks, Bitcoin, Ethereum, and other crypto networks didn’t skip a beat. Instability in the banking system threatened stablecoins, the on-ramps to DeFi, in stark contrast to regulator rhetoric”
Go Wood!!
It’s hilarious to hear you guys cry about the banks, but bash this financial system. No one, this is your wet dream? Is it not? Keep bashing her, when she is actually trying to help create the world you wish for.
“Instead of blocking decentralized, transparent, auditable and well-functioning financial platforms with no central points of failure, regulators should have been focused on the centralized and opaque points of failure looming in the traditional banking system.”
While you guys bash it, i will keep investing in it. I took the road less traveled, and that has made all the difference….
Cathie wood nailed the biggest technological disruptions of last decade…tesla and bitcoin. Yet, you all piss all over her in a bear market. Talk about ignorance. Do you know how difficult it is to be in the biggest winners? She did it previous decade too with amazon and the likes. Her weakness…bear markets. Adjust accordingly.
She is still buying DNA…hard. I should stick to my 20k target. Hits 50 and i have 1 million. Very achievable if things fall into place. Like easily achievable..
Just remember….her main position when she developed her funds was “faang” before it was cool. When will realize she is very good at what she does. Like truly amazing. She just can’t handle a bear market because she believes in her convictions, which are usually correct, so much that she goes all out with each dip. She looks at it all as a firesale, when she should have patience.
“They should have been all over the crisis that was looming in plain sight: asset and liability duration mismatches as short rates soared 19-fold in less than a year and deposits in the banking system were falling on a year-over-year basis for the first time since the 1920s!”-cathie wood
“Lot of current year similarities to 1929” response from musk.
By the way, Musk doesn’t think she is an idiot…i wonder why? 🤷♂️
I warned all of you about trying to talk sense into Pumps. You are wasting your time.
Lib,
Not being a d’k, but sincere. Why are her funds still solvent? She survived an unheard of rate hike cycle. Unbelievable. Banks didnt…
Just be open minded. Look over what i posted tonight from an unbiased mindset.
For example; you hate banks and fed. Why against bitcoin then?
Why because….you didn’t make the easy money in plain sight? It’s still early…just remember that. You doubting it is proof. You are a smart dude…so do the avg.
You think cathie wood is pumping when she says bitcoin 1 million? She is dead serious…
You going to listen to this guy?!
Jim Cramer said that in light of the cryptocurrency market rebound, he would be selling all of his Bitcoin holdings.
#cramer #bitcoin
I mean it might not be a bad time to sell…but in the long-run…this is cheap. Accumulate.
Wow…OK…only posting because of comment on DNA way back ‘after listening to me’.
To be clear, your trade is your trade. Has nothing to do with me. I put my parameters out there if *I* were doing the trade…20 month runway, unlikely to fail, most probable downside 80s, a number of corporate and operational items to be solved depending on which and when could bring the shares to mid 2.00s or better in that timeframe. Significant upside if they fix most of the issues in a broad stroke with new money, resolve corporate structure, and a corporate exec. And always with the backdrop that it is a SPAC meme trading near penny stock territory meaning none of the above may matter.
My only cause was to dispel you of the notion that it is “Amazon” and will go to “significant” double digits so that you didn’t chase on that concept.
Anything else…massive win, total loss….is yours and yours alone. No whining either way. We’re adults here.
The comments are hilarious.
THE PERSUADERS by Anand Giridharadas @AnandWrites
The far right is ginning up fear about Woke Banks.
But as someone who banks exclusively with Woke Banks, I have to tell you: They are really the best.
For example…
Every time I get cash at my Woke Bank, the ATM takes a few extra minutes to tell me the true history of the founding father on the bills I have just withdrawn.
You will not believe some of these guys!
When I apply for a mortgage at my Woke Bank, they don’t ask for any of the typical financial information that other banks seek out. They just give you a quiz about the history of redlining. If you pass, mortgage!
Another thing I love about my Woke Bank is that you can withdraw money from anyone’s account. They’re not fixated on “private property.” You just say someone’s name and their Privilege Score on a scale from 1 to 10, and if your Score is lower, you can withdraw from their account!
https://twitter.com/AnandWrites/status/1635616531152240645
Sam zell quotes.
“If everyone is going left, look right.”
Conventional wisdom is just a reference point.
The best opportunities lie where everyone else is not.
Gather information, shut out noise, & trust your instincts from there.
Be a Gravedancer
Zell coined this framework. It’s about:
• Dancing on the skeletons of past investors’ failures
• Moving toward disaster, buying when others are selling
• Timing, timing, timing
Shem-tov
Zell learned the Hebrew concept of Shem-tov from his father:
“Master of the Good Name.”
Reputation is your most important asset.
Everything you do, everything you say, is part of the permanent record.
Don’t Look Back
The past is context, not a promise.
Dwelling on prior performance does an investor no good.
Keep your head straight. Learn to live in the future.
Tolerance for Rejection
He doesn’t view the compensation from his first sales job as money…
It was learning and getting comfortable with rejection.
“Indifference to rejection is a fundamental part of being an entrepreneur.”
No One Will Give You Permission
The only person who can ultimately victimize you is… you.
“If you’re not aware you’re not supposed to be able do something, the barriers to doing it are lessened.”
Just assume you’re allowed.
Boots Not Suits
Authority isn’t what you wear.
It’s how you carry yourself.
“If I’m comfortable with who I am and the decisions I’ve made, then I don’t need a suit and tie to protect me.” – Sam Zell
Yup, think we get one more big rally before final low this year or next.
“Agree, there will another pivot rally. The magnitude and duration will depend on the cause of the pivot. If it’s employment it will be short(er) lived. Have a process, not a reaction. #macro #HOPE”