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If you're buying CD's you're doing it wrong! SIPC good up to $500k.
Get your oil storage lined up, Saudis are in trouble!
Low ,one more thanggggg
Update Schwab Hit by Worst Month Since 1987 Amid Cash Sorting Woes
Stock tumbled 33% in March, wiping out $47 billion in value
So-called cash sorting has weighed on Schwab’s earnings power
https://ca.finance.yahoo.com/news/schwab-eyes-worst-month-since-154652896.html
Bloomberg) -- Charles Schwab Corp.’s worst month in more than 35 years has sparked a debate among analysts as to whether the brokerage giant has been unfairly punished by investors amid growing fears about the US banking sector.
There are times in markets where logic is thrown out the window and emotion takes over and I feel like this is one of those moments with Schwab,” said Adam Sarhan, founder of 50 Park Investments.
He added that the rout is a “historic buying opportunity” for the financials sector as a whole and something not seen since 2008. Other brokerage stocks were also lower, just not as much as Schwab. Interactive Brokers Group Inc. for instance, fell about 4% in March.
Schwab is facing a pair of headwinds. Its banking arm, one of the largest in the US, is dealing with some of the same issues that plagued the now-defunct Silicon Valley Bank. Like many of it peers, Schwab invested in long-dated bonds during a period of historically low interest rates and is stuck with losses on those investments as the Federal Reserve has increased interest rates over the last year.
Read more: US Banks Have $620 Billion of Unrealized Losses on Their Books
Higher rates have also created another headache for Schwab, customers seeking better returns are moving their cash deposits into higher yielding assets like money-market funds within the brokerage or elsewhere. That process — often referred to as cash sorting — has put pressure on the company’s profit outlook.
“As cash sorting occurs, that effectively hurts earnings power,” said JMP Securities analyst Devin Ryan. He added that Schwab is now paying well over 4% for deposits that it was once paying just about 0.5% for.
Read more: Flight to Money Funds Is Adding to the Strains on Small Banks
The pace at which customers are shifting their cash at Schwab spurred Morgan Stanley analyst Michael Cyprys to cut his rating on the stock for the first time since he began covering the brokerage company in 2016. Still, Bank of America’s Craig Siegenthaler, who downgraded Schwab in January, remains the only analyst with a sell-equivalent rating on the stock.
Schwab is set to report its first-quarter results before the open of trading on April 17. Its shares have fallen at least 1.5% during each of its last five sessions following its earnings release.
Buying opportunities like this are very clear in hindsight, according to Sarhan. Still, “having the courage in real time is very difficult,” he said.
Duhhhhhh Yikes lol. When you purchase a CD from a bank, you are entering into a contract with the bank. If the bank fails, the FDIC will reimburse you up to the FDIC insurance limit of $250,000 per depositor per bank. Even if you have multiple accounts at the same bank totaling more than $250,000, the FDIC will only insure your accounts up to this limit.
4.50/5.00 5 yr lock-in no gamble lol
You don’t buy anything do ya , ur a yell from the back of the bus n that’s ok ,no skin off my back , you buy when it’s low or you or you average down and wait
Now come back in 12 mos ok , now go play somewhere else
Low I’ll take no risk 4.74 % on 100, for 5 to 7 year’s and for cash flow only on interest at my age ,no gamble , just for piss away fum ( oh and UTG seems to be a cheap closed end fund div cheap at the price oh and only a fool would not buy BAC at these pps , fool
Ts
Yup, they Fk'd! They paying ~12% on the put for 10% downside. Massive losses coming!
< $10! Harmonic tremor has been detected.
Know that it's going to erupt, VEI8
Just keep pumping money into money market until they fold.
Wait for crash!
Berkshire Hathaway's regulatory filings don't reveal the full story.
Which stocks does Warren Buffett like the most? Obviously, Berkshire Hathaway (BRK.A 0.68%) (BRK.B 0.99%) deserves to be at the top of the list. Most of Buffett's personal net worth is invested in the company.
There's also a good case to be made that Apple (AAPL 1.98%), Bank of America (BAC 1.96%), and Chevron (CVX 0.86%) should be on the list of Buffett's favorite stocks. If you look at Berkshire's regulatory filings, they rank as the conglomerate's top three holdings. But those filings don't tell the full story.
HAHAHAHA...No one believed me about AMC and now look where it's at...LOL. When stuff really hits the fan, there are only certain things that will only have value and gold and silver will not be on the list...LMAO
Gold and silver will never be worth nothing not like the dollar good luck to you if I was you, I’d stack golden silver
Sure the gold and silver you are recommending people to invest in isn't just painted rocks, like what happened to JP Morgen finding out the nickel they bought was bags of rocks? LOL
I see more RED days ahead. People need to question the TRUE information and value of EACH bank. Have the books been tampered with in EACH bank. If the books were truly up to par, none of this would be going on.
Lmao yeah OK! Sure they wont!
Oh, I pay attention alright, to the entire world, each and every country. I see more than the average joe...LOL. I have been taught well.
On top of that, you cannot eat gold or silver as neither has any nutritional value, and you cannot use either to improve your living standards such as lumber or something that will sustain oneself.
LMAO...You completely missed my point. I was saying nothing about paper or coin money at all. A tomato, an apple, corn, toilet paper, etc will be worth more than gold or silver...LOL
The world will be just fine without the US or dollar. But keep believing the banking crisis is contained and the dollar is the reserve currency
Well that rock will buy you what you need. That worthless Monopoly money days are numbered.
Guess your not paying attention to the rest of the world. My guess your American. Because any other world citizen thinks other. Even the smart Americans do.
You’ll be able to use it for sure. Dollar not so much
Any bets that most if not all these banks will conduct some form of R/S once enough shares are sold?
If I have a ton of rolls of toilet paper, I dare anyone to try and trade their gold or silver for a roll. Better have something else I can actually use...LOL
Soon enough, even gold and silver won't be worth anything. ONLY some form of commodity that people can use, like food, toilet paper, etc. LMAO Hard to wipe my butt with a rock...LMAO.
So funny. Getting bailed out with the same crap that created this from. Worthless paper currency. Keep an eye out of Asia. Xi will be speaking to the world in English. It’s the end of these worthless paper currencies!!! Better covert those things to physical gold and silver.
Bank of America is the worst capitalized Big Bank. Very dangerous. Explained in this video. “Bank Scare to Tank Markets and Trigger Recession..
https://youtube.com/@Wealthion
MORE PAIN COMING!!! Just my opinion.
What do u think boA and FRB
BoA will buyback FRB
FTB belonged to BoA after BuIng Merrill Lynnch
3x usd
Did Janet Yellen make some inference of SVIB linked to CCP (Chinese Communist Party)? I thought something popped up in news.
Brian Moynihan BAC St. Pat's Day!
Money from woke banks flowing to BAC. 3/15/23.. 15 B & more from weak banks flowing to BAC coffers.
Will Buffeet invest in BAC, before, during & after St. Pats Day??
Kudos to Irishman Moynihan & BAC...
DEAL!
CODE RED ALERT!!!!!!!!!!!!!!!!!EUROPE IS TANKING!!!!!!!!!!!!!! OUR BLOODY GOOD FRIENDS IN EUROPE ARE EATING RATS BECAUSE THERE IS A FOOD SHORTAGE!!!!!!!!!!!!!!!!!!!! MU H HA AH A!!!!!!!!!!!!!!!!!!
Agreed let’s hammer these woke banks with some selling. It’s such a joke how woke they have become over the years. Instead of focusing on profits & maximizing returns for shareholders they bow to the woke left preaching diversity & inclusion & accusing people of being racist.
GLOBAL MELT DOWN!!!!!!!!!!!!!!!!!!!!! PLEASE LORD HELP US ALL!!!!!!!!!!!!!!!!!!!! MU HA HA HA HA HA!!!!!!!!!!!!!!!
THE GREAT DEPRESSION IS HERE!!!!!! MASSIVE TURD DUMP STARTED!!!!!!!!!!!!!!!!!!!!RUN RUN RUN!!!!!!!!!!!!!!!!!!!!!!! MU HA AHA HA HA HA!!!!!!!!!!!!!!!!
Nice bounce in pre-market today. $1000 gain.
Bank of America Corp (BAC) is currently at $29.21, down $1.06 or 3.5%
--Would be lowest close since Dec. 22, 2020, when it closed at $29.21
--On pace to surpass it's 2022 closing low for the first time this year
--Currently down eight of the past nine days
--Currently down six consecutive days; down 14.49% over this period
--Longest losing streak since Dec. 9, 2022, when it fell for seven straight trading days
--Worst six day stretch since the six days ending March 7, 2022, when it fell 14.84%
--Down 14.84% month-to-date
--Down 11.81% year-to-date
--Down 46.79% from its all-time closing high of $54.90 on Nov. 20, 2006
--Down 29.10% from 52 weeks ago (March 14, 2022), when it closed at $41.20
--Down 33.88% from its 52-week closing high of $44.18 on March 22, 2022
--Would be a new 52-week closing low
--Traded as low as $27.87; lowest intraday level since Nov. 23, 2020, when it hit $27.06
Per Dow Jones.
Banking bloodbath just starting All the banks are down big. With $9T in deposits nationwide, FDIC only has $350B to pay out.
BAC & American bank stocks have no legs!!! I remember back in 2018 I was drinking at a bar in boca raton & BAC was trading at $34 a share. Hasn’t done sh!t since !! F*** the bank stocks !
LOL
“Are all uninsured deposits now covered by government guarantees?
No. The regulators said they were making an exception for SVB and Signature. The SVB action was taken in consultation with many regulators but also with President Biden -- indicating the unusual nature of their move. Signature was similarly protected under a "systemic risk exception" to backstop its uninsured deposits.”
But wait… That’s the known risk those depositors took to hoard their money as uninsured rather than invest it in their local community and in safer banks , now the local community is bailing out the wealthy money hoarders no matter what the gov says it’s a bailout, so they can hoard their money somewhere else and still not invest it in the local community.
Peter Shiff is predicting a banking collapse. Are there any banking ETF's out there I can short or buy puts in?
The 7 Latest Bank of America Scams and How To Identify Them
https://www.aura.com/learn/bank-of-america-scams
Bank of America 'still forecasting' 2023 recession: Fed action 'not enough,' exec warns
https://www.foxbusiness.com/economy/bank-america-still-forecasting-2023-recession-fed-action-not-enough-exec-warns $BAC
Goldman Sachs Lays Off 3,200 Employees and Cuts Salaries
https://franknez.com/goldman-sachs-lays-off-3200-employees-and-cuts-salaries/
Customers can't get their own money out of Bank!
Everyone thinks they are smarter than Buffet.
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Website: https://www.bankofamerica.com/
Corporate Profile
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. We serve approximately 51 million consumer and small business relationships with approximately 5,300 retail banking offices and approximately 16,350 ATMs and award-winning online banking with 30 million active users and more than 13 million mobile users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.
Corporate Structure
Merrill Lynch & Co., Inc. is a wholly owned subsidiary of Bank of America Corporation.
Website: www.ml.com/US
Debt Profile
Prior to Merrill Lynch's acquisition by Bank of America, Merrill Lynch & Co., Inc. (ML & Co.) was the primary issuer of Merrill Lynch's debt instruments. Debt instruments were also issued by certain subsidiaries. ML & Co. is no longer a primary issuer of new unsecured borrowings under the Bank of America platform. Bank of America has not assumed or guaranteed the long-term debt that was issued or guaranteed by ML & Co. or its subsidiaries prior to the acquisition of Merrill Lynch by Bank of America.
Following the completion of Bank of America's acquisition of Merrill Lynch, ML & Co. became a subsidiary of Bank of America and established intercompany lending and borrowing arrangements to facilitate centralized liquidity management. Included in these arrangements is a $50 billion extendible one-year revolving line of credit that allows Bank of America to borrow funds from Merrill Lynch at a spread to LIBOR that is reset periodically and is consistent with other intercompany agreements. The line of credit matures on January 1, 2014 and will automatically be extended by one year to the succeeding January 1st unless Merrill Lynch provides written notice not to extend at least 45 days prior to the maturity date. There were no amounts outstanding at both March 31, 2013 and December 31, 2012 under this credit facility. There is also a short-term revolving credit facility that allows Bank of America to borrow up to an additional $25 billion. Interest on borrowings under the credit facility is based on prevailing short-term market rates. The line of credit matures on February 11, 2014. At March 31, 2013 and December 31, 2012, approximately $10.7 billion and $16.2 billion, respectively, was outstanding under this line of credit.
_______________________________________________________________________________________________________________________________________________________________________________________
Brian T. Moynihan is the chief executive officer of Bank of America. He was elected to his role by the board of directors on December 16, 2009, and took office on January 1, 2010. Moynihan also is a member of the Bank of America board of directors. Moynihan has led Bank of America’s Global Diversity and Inclusion Council, a group of senior executives from across lines of business, since 2007. Moynihan joined Bank of America in 2004 following the company’s merger with FleetBoston Financial. In 2010, he was elected a trustee of the Corporation of Brown University.
Headquarters:
Bank of America Corporate Center
100 North Tryon Street
Charlotte, NC 28255
Investor Relations:
Tel: 704-386-5681
Fax: 980-386-6699
Updated: 9/13/13
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