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Silicon Valley Bank Collapses

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HuronKing:

--- Quote from: TimFox on March 16, 2023, 08:56:36 pm ---
--- Quote from: HuronKing on March 16, 2023, 08:48:12 pm ---
--- Quote from: coppice on March 16, 2023, 08:43:38 pm ---
--- Quote from: floobydust on March 16, 2023, 07:15:01 pm ---CNBC's Jim Cramer last month Feb. 8 "Buy SVB!", Buy Signature Bank! , First Republic
--- End quote ---
Come on. Its Jim Cramer. Everyone knows when he says "Buy SVB" he's just mispronouncing "bye bye SVB".

--- End quote ---

I wouldn't put any real money towards it... but I've enjoyed a few beers on trades from inversing whatever Cramer says.

--- End quote ---

At my broker's office, but not in writing, they all believe that trading on the inverse of Cramer's recommendations is a good strategy.

--- End quote ---

They don't need to keep it so secret anymore I guess - there is an actual Inverse Cramer ETF trading as SJIM that started a few days ago:
https://www.marketwatch.com/investing/fund/sjim

bdunham7:

--- Quote from: TimFox on March 16, 2023, 08:56:36 pm ---At my broker's office, but not in writing, they all believe that trading on the inverse of Cramer's recommendations is a good strategy.

--- End quote ---

There's actually an ETF for that now.  SJIM (Short JIM) "Inverse Cramer Tracker", and it is real.  I bought a share just so I can track it.  So far it has made a small bit of money.  Fidelity lists it as a 'designated investment' meaning you have to read a disclaimer before buying it and acknowledge that the broker is not recommending it. 

https://www.google.com/finance/quote/SJIM:BATS?sa=X&ved=2ahUKEwj-s5SktOH9AhXhLkQIHZTrAKgQ3ecFegQIChAg&window=1M

floobydust:
I'll never forget this screencap of the Jim Cramer show from early in the pandemic. It just shows what Wallstreet and him are about. Greedy scum manipulating the masses.
The business press minimizing the SVB failure, is a bit surprising. I thought they would help push for bank regulation to get fixed- although both the Clinton and Trump admin's loosened them up for obvious corrupt reasons.

Marco:

--- Quote from: VK3DRB on March 16, 2023, 01:38:32 am ---Global debt is > USD $300 TRILLION

--- End quote ---

Global paper debt is 300 Trillion, but the economy functions functions quite well regardless.

Internal sovereign debt is not all that important, look at Japan. BoJ just puts whatever the market doesn't want on its balance sheet and bob's your uncle. Demographics are a far greater threat to Japan than debt/GDP ratio. Now of course when that sovereign debt is on bank balance sheets and the interest rates rise, that is a problem ... so what is the solution?

I have a solution, end private consumer banking. Transfer demand deposits to the central bank as well as marked to market assets necessary to cover them (banks without sufficient assets get liquidated). The central bank then provides CBDC, aka. central bank run full reserve consumer banking. The central bank can then slowly auction off the assets to investors once everyone stops panicking.

Fractional reserve banking is more trouble than it's worth. If people want to invest let them invest, don't use demand deposits for it.

jonovid:
had a look under the bed. just not the space for hoarding more gold and silver.
as for Cramer's recommendations are like re-shuffling deck chairs on the titanic.

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