Jesus. A week ago lol
I don’t mind scooping up cheaper stocks with hefty dividends.
I’ve timed the last two crashes completely by accident. Both during rebalancing where I went to cash. Jan 2022 and a month ago, sold out and made profit twice. Just pure luck.
Not sure when to jump back in but I’d like to see a 20% discount first.
I only buy funds… SPY, VTSAX, ITOT
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GDX gold miner is up 6%.
There goes another bank… 
Possible run on this one too?
You gotta wonder how a government that’s running on fiscal hot air is going to keep rescuing a banking system that’s running on fiscal hot air.
The US government is facing increasing difficulty selling treasury bonds so the argument is being made that the capital requirements of big banks should be reduced in order to create a robust secondary market for US debt. Pretty much the recipe that just led to the failure of smaller regional banks.
Since the onset of the pandemic, the U.S. government has increased the level of outstanding Treasury debt by roughly one-third, or $7 trillion. This rapid and significant increase in the supply of Treasury debt demands a commensurately more robust and well-functioning secondary market for U.S. Treasury securities to ensure that the U.S. government can manage the increased cost of financing the pandemic response. Large bank securities dealers play an essential role in the Treasury market by holding Treasury securities and providing much needed liquidity in the secondary market. At the same time, however, a risk-insensitive capital requirement – the supplementary leverage ratio (SLR) – has increasingly limited the ability of these banks to perform this role. . . .
As shown in the first set of bars, the amount of outstanding U.S. Treasury debt has increased substantially over the past few years, in large part to fund the government’s extensive response to the pandemic. At the same time, there has been increasing evidence that the functioning of U.S. Treasury markets has been worsening. Recent reports point to increasing volatility and rising transaction costs in the U.S. Treasury market. Such reports of a deterioration in Treasury market functioning have become increasingly common since the onset of the pandemic and were raised by several former regulators as a cause for concern during the Forum’s summit on July 18.
Shorts are going to rule the banking sector for a bit, I think,
Yikes
ZURICH (Reuters) - Credit Suisse lost almost a quarter of its value on Wednesday, dropping to a new record low after its largest investor said it could not provide the Swiss bank with more financial assistance.
“We cannot, because we would go above 10%. It’s a regulatory issue,” Saudi National Bank chairman Ammar Al Khudairy said on Wednesday.
The Saudi lender acquired a stake of almost 10% last year after taking part in Credit Suisse’s capital raising and committed to investing up to 1.5 billion Swiss francs ($1.5 billion).
I don’t think banks are actually in trouble. Might buy up some soon.
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Sounds like a good time to buy some Credit Suisse 
Soon to be renamed.
I’m just wondering if these failing banks are canaries in the coal mine. Symptoms perhaps of the beginning of the end of economic systems which are running on little more than debt fumes now that they no longer create enough real economic wealth to maintain their accustomed standards of living.
Their name itself might already be more valuable than their assets 
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People have wanted a change. Seems like a gamble to remove money from the equation and not end up in slavery.
On the bank thing:
My newsletter guy had a zoom call today, discussing this. Short story is. If Fed will cover them, they will print money to do so. Liquidity will go up. Rates will come down. QT is over.
He likes munis. New recommendation tomorrow.
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Nope. Fed has a lot of mechanisms. QT indeed puts pressure on banks. Volume of credit is still high and has to go down in order to control inflation more. This is the key fighting inflation.
Trust into smaller banks will be restored with higher obligated insurance policy for deposits.
Rather than banks a lot of Europeans energy companies are traded with discount. Both sectors will go down in recession, but energy will rebound fast. Equinor and omv pays 10 % dividend. Oil and gas are sold by dollar price, while their cost are in local currency.
I added ugl etf for gold, will probably buy call option for gold
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My stock guy has no interest in solving inflation. He’s a stock picker. He’s basing his recs on near term action. The cause or solution is beside the point, which, as of now is to make money in bloody markets.
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Here’s my tin foil hat theory.
Certain financier(s) were the one that stated the ball rolling on the bank run. The motivation might be to force the Fed to lower rates when they stare down the barrel of bank collapses.
Simpsons for some levity
Why would banksters want lower interest rates on the money they lend to the government?