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"Do not my friends become addicted to water. It will take hold of you and you will resent its absence." - Immortan Joe.
Not financial advice.
CorpusColossus
9,864 posts
CorpusColossus
@CorpusCol
Watching through a telescope from atop the Citadel, waiting for an opportunity to tell Rictus what to do. All to build a better world, of course.
USA/Hexagon
Joined October 2020
- Replying to @zerohedge and @StanphylCapThe green attitude is a luxury that we can no longer afford. More broadly, the woke attitude was a daydream of people who didn't have enough problems to solve so they created some new ones. Reality has trumped those spurious problems with some real and pressing ones.
- Replying to @HenMazzigMaybe go to work at a schnitzel place since Austrians don’t do genocide.
- Replying to @Mike27356894 @KingMike273 and @DudespostingWsIt’s actually there, not their. Just wanted to make that clear so there wasn’t any confusion.
- We could make the most beautiful toasters... People come up to me and say, "Sir, with American toasters, we could toast thicker pieces of American toast, which would hold more American jam". They took that from you. I will bring it back.
- In preFDIC days, the bank run playbook was (1) pile up gold behind the tellers (2) pay out every withdrawal with very slowly to buy time & dispel panic (3) call your bank pals for loans (4) get a prominent community leader to make a public deposit. Some times it worked. For SVB
- Replying to @depthsofwikiHe completed his mission and moved on to new challenges. Respect.
- Once again time for my quarterly list of banks with worsening loan quality. This is all banks with $1B+ in assets that are publicly traded with a ratio that's 100 bps worse in any category. I took Restructuring Loans out this time since I saw data that didn't foot. 🧵
- Replying to @depthsofwikiReminds me of the old St Louis Union Trust, which is now part of US Bancorp.
- 1/ Anyone who has been around the block in U.S. bank investing knows that construction lending is the ultimate party drug: it juices returns, gets you hooked and then ruins your life.
- Random thought/ Why were all the “trust the science” dudes against nuclear power when science was pretty clear that it was a good idea?
- This is the promised post of which banks have benefitted the most from the bleeding out of $WFC during the asset cap. Remember that this is free and took a lot of number crunching. Which is to say that maybe you could do better, but it would take a long time.