Not Investment Advice

[dscher]

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[Yuma]

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When I did have money, I invested opposite of Cramer and had some nice gains.

 

[dscher]

When I did have money, I invested opposite of Cramer and had some nice gains.

Same for this guy. It's pretty funny. He's a good follow. I definitely believe in contrarian indicators.

 

[jf-08]

I just bought into the Unusual Whales ETFs KRUZ and NANC.

Market Portfolios

A description and breakdown of different market portfolios. Follow your favorite politician as their portfolio changes, follow legendary celebrity investors, and more.

unusualwhales.com

 

[Yuma]

I just bought into the Unusual Whales ETFs KRUZ and NANC.

Market Portfolios

A description and breakdown of different market portfolios. Follow your favorite politician as their portfolio changes, follow legendary celebrity investors, and more.

unusualwhales.com

The delay in investing, maybe you don't make the same gains as the inside trade timing of the actual ones made by congress people?

 

[Devilmaycare]

The delay in investing, maybe you don't make the same gains as the inside trade timing of the actual ones made by congress people?

They're delayed a bit. I think up to a month but don't quote me on that. When it comes to congressional stock reform I think a minimum change should be requiring same day or at most next day reporting of trades. If they're going to get to insider trade then they should be immediately transparent.

 

[Folster]

I took advantage of the banking instability to open and build a position in SCHW. I've been wanting to own them for a while as they are considered the market leader of the discount brokerage industry. I started buying at 55 and was able to add at 52.50, 50, and 47.50. I have another open limit order for 45 if it gets there.

They are being impacted by the banking fears and to be fair they do have some duration issues, but banking is only a portion of their business and they reportedly have had significant deposit inflow since this all started.

I plan on this being a long term core position for me.

 

[Russ Smith]

I took advantage of the banking instability to open and build a position in SCHW. I've been wanting to own them for a while as they are considered the market leader of the discount brokerage industry. I started buying at 55 and was able to add at 52.50, 50, and 47.50. I have another open limit order for 45 if it gets there.

They are being impacted by the banking fears and to be fair they do have some duration issues, but banking is only a portion of their business and they reportedly have had significant deposit inflow since this all started.

I plan on this being a long term core position for me.

I was watching PACW but I didn't have money in my account and was too cautious to put some in and pull the trigger. So of course PACW went up 82% on Friday.

Some of these banks are good long term buys, some of them are amazing short term buys but it's pure gambling to try and guess which ones.

 

[dscher]

I was watching PACW but I didn't have money in my account and was too cautious to put some in and pull the trigger. So of course PACW went up 82% on Friday.

Some of these banks are good long term buys, some of them are amazing short term buys but it's pure gambling to try and guess which ones.

Gambling indeed.

 

[elindholm]

I took advantage of the banking instability to open and build a position in SCHW. I've been wanting to own them for a while as they are considered the market leader of the discount brokerage industry. I started buying at 55 and was able to add at 52.50, 50, and 47.50. I have another open limit order for 45 if it gets there.

They are being impacted by the banking fears and to be fair they do have some duration issues, but banking is only a portion of their business and they reportedly have had significant deposit inflow since this all started.

I plan on this being a long term core position for me.

I bought Comerica CMA a month ago because the speculation was that it was being unfairly punished by "general" weaknesses in the banking sector that aren't nearly so bad. Since then, it's down 7% (edit: oops, make that 9%, I was looking at an old quote), but it should still be a good prospect to bounce back.

 

[dscher]

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[Folster]

I bought Comerica CMA a month ago because the speculation was that it was being unfairly punished by "general" weaknesses in the banking sector that aren't nearly so bad. Since then, it's down 7% (edit: oops, make that 9%, I was looking at an old quote), but it should still be a good prospect to bounce back.

I don't have a pulse on the regional banks, but their price to book ratio looks appealing below 1 assuming they don't have any landmines in their balance sheet.

I was hoping JPM would take a hit, but they are such a rock and soaked up a ton of deposits from fearful depositors.

 

[elindholm]

One of my more speculative plays is paying off, CRSP Crispr Therapeutics, a gene-editing technology. It was on my radar because the technology was developed by an alum of the school where I teach, who won the Nobel for her work. It's a Cathie Wood favorite, which isn't exactly an endorsement, but the price had gotten low enough that I took a shot. It was at 220 in January 21, I got it at 42.7 two months ago, and now it's at 62. It's not enough to offset my slew of recent bad calls, but it helps.

 

[Folster]

One of my more speculative plays is paying off, CRSP Crispr Therapeutics, a gene-editing technology. It was on my radar because the technology was developed by an alum of the school where I teach, who won the Nobel for her work. It's a Cathie Wood favorite, which isn't exactly an endorsement, but the price had gotten low enough that I took a shot. It was at 220 in January 21, I got it at 42.7 two months ago, and now it's at 62. It's not enough to offset my slew of recent bad calls, but it helps.

It's hard for me not to immediately dismiss a Cathie Wood stock, but some of them are very good companies with a lot of promise. The issue is her valuations and her tendency to buy at extreme valuations. It worked for Tesla but not so much for others.

With that said, I looked at their income statement and immediately thought, Nope. It's definitely a speculative growth play and it sounds like you have some insight into the company. I try to stick with a Peter Lynch style of investing in what I know and understand. They are definitely way outside my core competencies.

 

[elindholm]

I took advantage of the banking instability to open and build a position in SCHW. I've been wanting to own them for a while as they are considered the market leader of the discount brokerage industry. I started buying at 55 and was able to add at 52.50, 50, and 47.50. I have another open limit order for 45 if it gets there.

They are being impacted by the banking fears and to be fair they do have some duration issues, but banking is only a portion of their business and they reportedly have had significant deposit inflow since this all started.

I plan on this being a long term core position for me.

Looks like we're both doing okay on these bets. SCHW is back to 53 and CMA is +5% from my purchase. Way to go us!

 

[dscher]

Looks like we're both doing okay on these bets. SCHW is back to 53 and CMA is +5% from my purchase. Way to go us!

Lock in those profits or set a stop loss...

JMO.

 

[elindholm]

Looks like we're both doing okay on these bets. SCHW is back to 53 and CMA is +5% from my purchase. Way to go us!

Well SCHW is still fine, but CMA is taking a giant dump today. Can't figure out what the triggering news is.

 

[Folster]

Well SCHW is still fine, but CMA is taking a giant dump today. Can't figure out what the triggering news is.

This is the only thing I can find.

Comerica in 'serious violation' of Treasury's Direct Express program

A Comerica Bank executive admitted to major failures in its handling of the Treasury Department's Direct Express program, including data and resolved fraud disputes sent to a vendor's office in Lahore, Pakistan, a "serious" contract violation.

www.americanbanker.com

 

[elindholm]

This is the only thing I can find.

Comerica in 'serious violation' of Treasury's Direct Express program

A Comerica Bank executive admitted to major failures in its handling of the Treasury Department's Direct Express program, including data and resolved fraud disputes sent to a vendor's office in Lahore, Pakistan, a "serious" contract violation.

www.americanbanker.com

Oops, that doesn't sound good. Thanks for tracking it down. I guess they're looking at a big fine?

 

[Folster]

Oops, that doesn't sound good. Thanks for tracking it down. I guess they're looking at a big fine?

I would imagine. Hard to tell how big this is and what impact if any it could have on the bank. Banks get fined and agree to settlements all the time. It's part of doing business in the regulatory environment.

 

[elindholm]

I would imagine. Hard to tell how big this is and what impact if any it could have on the bank. Banks get fined and agree to settlements all the time. It's part of doing business in the regulatory environment.

CMA rebounded to finish at "only" -3.6% today, so maybe the market took to heart your perspective that this is one of the ordinary risks of doing business.

 

[dscher]

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Ponzi pump and dumps everywhere!

 

[Zalixar]

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Ponzi pump and dumps everywhere!

I mean, the least you could do is make sure there's some context and facts.

The price was still rising well after he sold, it was only a day or two later when media reported it, it then crashed and blamed him.

 

[dscher]

I mean, the least you could do is make sure there's some context and facts.

The price was still rising well after he sold, it was only a day or two later when media reported it, it then crashed and blamed him.

The least I did was provide a YouTube video. Take it up with him. BTW, the meme stock frenzy/mania can be called a pump and dump ponzi. No context needed.

 

[Yuma]

IMF urges Fed, central banks to keep tightening to reduce inflation

IMF spokesperson Julie Kozack said inflation momentum has slowed in the United States, but remained a pressing concern.


"If inflation does prove to be more persistent than expected, then the Fed may need to push interest rates higher for longer," she told reporters at a regular briefing.


She said the IMF would release an updated World Economic Outlook on July 25.


The IMF warned in April that lurking financial system vulnerabilities could erupt into a new crisis and slam global growth this year, edging its 2023 global growth forecasts lower. It forecast real GDP growth of 2.8% in 2023 and 3.0% in 2024 - one-tenth of a percentage point lower than what it predicted in January for each year. The global economy grew 3.4% in 2022.