Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
The show was called ”The Bloomberg Crypto Show” - Date: 3/21/2023
This LINK should pull up the referenced show. Mulvaney is the second guest interviewed and begins speaking at 12:50 into the program. The remarks I referenced occur several minut…
+1 Invesco bought Oppenheimer several years ago. Some of the excessive risk taking in fixed income appears to have come along for the ride. Relieved to have so little with them at this point. Suspect one fund I still own may have been adversely af…
I like to sleep well at night. 10 years in bucket #1 is the best sleeping aid.
My allocation model is so fragmented & complicated that I fall asleep at night just trying to figure it all out.
Great sleep inducer.
I’ve been burned more than …
:) - Since according to @NumbersGirl this is a paid subscription service I guess you have a right to bitch. For the freebies out there - including some M* functions - I takes what I can get. M* did me a favor when they eliminated their free port…
DKNG closed at $17.23 today. About a year ago I bought into it at $17.50 thinking that looked cheap. So, a real “go nowhere” stock. :) Been in and out several times. Bought at $11 January and sold out at a higher price few weeks later.
Sorry - I’…
Give me a dollar for every time “Trump claims …” something!
Surely he and his supporters realize we have a judicial system in this country. Notwithstanding that he’ll be out on bail right away if indicted, there are juries to weigh evidence and c…
Oil = $65.96 as quoted on MarketWatch currently. Precious metals continue to rip. Actually, some of the industrial miners have been hot lately (RIO for one). So if we’re heading into a big global slowdown that wouldn’t add up.
I’d say buckle you…
@rforno
Yup. We recall the all-nighter programs during 2008 for CNBC and Bloomberg.....no info-mercials, eh?
At one time CNBC aired a variant called “CNBC-West” in the evening. It was excellent and quite humorous at times. I’d gladly pay up to view…
Naw. Occasionally on the treadmill at the gym I watch CNBC, but without any volume, as I’d need to plug in headphones. And only because they don’t have Bloomberg. But it’s actually depressing looking at the same bunch that’s been on for decades now…
There’s some really interesting analysis of all the recent events on Bloomberg this evening. Some thoughtful, articulate and knowledgeable guests. I’m at least a week behind reading my FT subscription. And then there’s the WSJ I never quite get f…
Chyron on BBG right now: "POWELL. YELLEN SAY CAPITAL AND LIQUIDITY OF US BANKS ARE STRONG"
Shades of Sunday evenings circa 2008....
Whether you agree with him not, Bill Fleckenstein comes up with some great captions for his daily Market Rap comm…
Yes. Young Biden could benefit by some advice from an elder. If things really worsen, the more experienced Munger may join in.
Thanks @Sven for the nice market summary.
Yes just saw this! Is anyone considering nibbling on any of the banks? If so how are you doing so? Andrew Bary had a nice piece in Barron’s where he favored JPM, MS and GS… it’s a good read.
Read that article too. - No - I’ll “pass” on banks. …
We’ll know a lot more Wednesday when the FOMC releases its statement. Barron’s reports that the futures markets are pricing in a 65% likelihood of a .25 bp rate hike Wednesday. Forsyth seems to adhere to that view. But there are articles by others …
”First Republic’s stock is down more than 80 percent for the year, and other regional banks like Pacific Western and Western Alliance have lost more than half their values.”
Remind me never to invest in banks!
Thanks!
I don’t celebrate it any more. In my first teaching job at a small Catholic school in northern Michigan (late 60s) many of the “lay” staff eagerly awaited it. Great bunch to work with. We’d head for a local pub within walking distance rig…
Nicely said @LarryB
Was a lot easier at 60 to “bite the bullet” and buy down in 2008 than at 75 today. Nonetheless, I’ve added a bit of risk over past week, perhaps illustrating Franklin’s proverb - “Experience keeps a dear school …”
Diversi…
The fallout from the SVB (Silicon Valley Bank) collapse has finally put fear into the hearts of investors, and especially options traders, pushing up the VIX from the low 20s to a close of 26.14 on March 15, 2023.
Actually, VIX was in the “high te…
People have withdrawn bank deposits and moved into money market funds and T Bills. Banks can’t compete on short term interest rates because they have made long term loans at lower rates. I agree that an idiot could have foreseen this. Of course th…
@Crash - Thought I’d mention that what rocked markets today was the announcement that J.P. Morgan had put together a “rescue package” (loan) for First Republic funded by a number of banks. I was surprised they didn’t wait and release the informatio…
I’m confident @Crash can handle it. :) - But some sage advice.
What makes sense to me about the heightened volatility comes from Bloomberg media reports this evening: (1) There is a liquidity shortage, (2) As a consequence some hedge funds have h…
“I believe social media has magnified the bank panic.”
Both social and mainstream media have had a field day. “It sells in Peoria” (increases ratings).
There are no lines in front of banks. But there’s a lot of itchy fingers on keyboards moving…
”But now he is flipping! He is still bearish but says that this rally has room to run, and then collapse.”
Looks to me like it collapsed before it ran.
,
”This move in oil is rather unsettling.”
Lots of stuff is unsettling, including the escalating U.S. / Russia tensions. Might have played a role in today’s equity sell-off.
Oil is something I’m unable to understand or invest in. There have always b…
BRK.b was down almost 3% much of the day. Finished down 2.44%. Yet, AAPL was up for the day. And BOA BAC only lost 1%. Looks like insurance companies got hit. One I watch was down 3.4%. I’d think the issue relates to interest rates in some manner - …
Yes - Big move down in oil this week. Industrial metals getting hammered today too. I see lots of panic. Bloomberg said around noon the Fed is working on the Credit Suisse issue (along with other central banks and regulatory officials) and the U.S…
@hank, I grew up with the irresolute response to the last inflation. I don't want to spend what could be the rest of my life going through that again
@WABC -You weren’t pleased with Nixon’s 1970 wage & price freeze? :)
I was pretty irrespons…
The Dow was up +426 points around 11:00 this morning. Dipped down to nearly even at mid-day and then came back to finish +336, or just over 1%. I realize 1 day’s performance is meaningless and that the S&P (which gained 1.68% today) is a bett…
Changing the topic slightly … But you might make an argument that inflation harms the wealthy more than the working class. With inflation, if you have lots of money on deposit somewhere it depreciates in buying power while you’re holding it. On t…
TFC fell 17% today. Held some for a few months a year ago. Not a bad ride at the time. Whew!
Looked like a good bet at the time. Large growing regional bank. Headquartered in Charlotte NC. Conservatively run. Diversified investments. Hard to bel…
Thanks.
But I did get my three mile hike on the beach in first
+1
My hike today was on an ice & snow covered beach in balmy 27 degree temps with a 25 mph wind blowing. In a couple weeks I’ll be hiking on a much warmer beach, if only for a we…
OK - I stand corrected. Apparently it’s the still healthy banks that will make the depositors in the failed banks whole. And the FDIC has never run out of money from member banks and shall not this time. It would seem like a more transparent and si…
