newaccount2023

why do these stories keep touting the job market?

the companies who can't fill their openings are places like Chipotle, McDs and Walmart

the places laying off are Google, Amazon, GM

really wish these talking heads would talk about SPECIFIC high quality jobs that can't be filled...don't pretend scrubbing a toilet at Burger King is a rung up the economic ladder for anyone

for now, Apple is in a different league

if Tim Cook wants $10 bln in new profits, he can simply pass some arbitrary judgement like "the next iPhone will only be compatible with new AirPods we will introduce at the same time" and everyone will comply

Grantham is correct that we have an everything bubble

but Grantham has also been declaring an imminent correction as long as I can remember, literally decades

you have to remember that these older analysts hail from another era...and it may be that in that era, our financial system was more "factual"...but you can't contextualize the world of 2023 (bullshit laden as it admittedly may be) by contrasting it with 1982...many of today's investors weren't even born

> but the latest Fed action violates a 40-year downtrend in interest rates

its no big deal to make a little bet based on that, but SVB seems to have bet the farm

had they even diversified their duration they would have been fine

exactly! even more amateur single investors know better than to bet the farm on ten year notes when rates are exceptionally low

SVB wasn't even operating at the level of the typical individual investor!

if you tell your boss you are leaving and they say "good luck" and don't try to counter, they probably aren't that bothered that you are leaving

in this case, Intel's situation on GPUs is so dire that it makes total sense to clear the bench...the status quo was bleak

I really don't know why they don't just take a chill pill and let this blow over

a sale would be ridiculous, there is zero reason to fire-sale a bank with 28% margins

they could easily lure back half of the 40% of closed accounts...these were panic moves, easily undone

FRC was giving high-touch personalized service, these customers aren't going to get that at BofA, where they'll be told to use an ATM or dial a call center

it may take years to get back to full strength, but with the new capital infusion, they can run the business and just let this shitshow blow over

if anything, replace the CEO with someone who has balls, there is no reason for FRC to be cowering in the corner

its a GREAT sign - it means Gelsinger is serious about making progress and is willing to replace ineffective leaders

I would be more concerned by the opposite - presuming to fix the company using the same people who were responsible for the decline

so he can just announce another delayed exit...

every layoff so far has had a month or more between announcement and implementation

nonetheless it is also the number Powell has suggested repeatedly as his target