Share to Twitter Share to Linkedin Is it time for us contrarians to “buy the dip” in bank stocks? We’re drowning in big bank-scare headlines. Silicon Valley Bank (SIVB VB ) knuckled under in days, Signature Bank (SBNY) wasn’t too far behind, and across the pond, Credit Suisse (CS) needed a buyout bailout from rival UBS (UBS) . The next bank run, however, won’t be with the big boys . Too big to fail, baby . Here, we’ll find not only government help but also secure yields of up to 5.1%—trading at a discount, no less. Why the big guys? Well let me show you. Last week, my software firm received this email from one of our vendors: “Brett, Just wanted to give you our new banking details. We’re out of SVB; we’re moving to JPM.” JPM for the win. And they’re not the only big bank benefiting. CNN recently reported that Bank of America BAC (BAC) , Wells Fargo WFC (WFC) and Citigroup C (C) “have all experienced a … [Read more...] about Make Your Own Bank Run On These Blue-Chip Yields
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Obtuse: The Fed & Treasury View Of Banking Issues
Share to Twitter Share to Linkedin Despite ongoing silent runs on the Regional and Community Banks, it appears that both Fed Chair Powell and Treasury Secretary Yellen view the events of the recent past (SVB VB , Signature Bank, First Republic, Credit Suisse, and now Deutsche Bank) as one-off events and not symptomatic of stress in the world’s financial system. The dictionary defines “obtuse” as “annoyingly insensitive or slow to understand.” We can’t think of anything more precise! The chart at the top shows the continued decline in the value of S&P’s Regional Banking ETF through the close of business on Friday (March 24 th ). On Wednesday, the Fed raised interest rates 25 basis points despite liquidity issues in the banking system and the apparent loss of confidence in that system by a significant portion of the public. During his press conference, Powell acknowledged some FOMC concerns over banking issues, said that they had considered a "pause,” … [Read more...] about Obtuse: The Fed & Treasury View Of Banking Issues
Banks Need To Start Red Teaming Themselves
Share to Twitter Share to Linkedin The failure of Silicon Valley Bank, the near-collapse of Credit Suisse, and other recent troubles in the banking sector are, in part, a consequence of actions taken by U.S. Federal Reserve and other central banks to combat rising inflation, they are also partly the result of mistakes made by the banks themselves – including a failure to anticipate the impact those Fed policy decisions would have on their depositors and on their balance sheets. One way that this could have been avoided was through greater critical, contrarian analysis – the sort of critical, contrarian analysis that decision-support red teaming provides. For those unfamiliar with the concept , decision-support red teaming was created by the military and intelligence community to help them navigate today’s complex operating environment and make better decisions in situations that are fraught with ambiguity and uncertainty. These are the exact sort of … [Read more...] about Banks Need To Start Red Teaming Themselves
Where to Invest During a Banking Crisis: Safe Options for Your Money
(CTN News) – When a banking crisis hits, it can be scary and uncertain. With economic uncertainty looming, knowing where to invest your money can be tough. The good news is that there are still safe places to put your money during a banking crisis. This article will explore some of the best options for investing your money during a financial crisis. Government Bonds Government bonds are considered one of the safest investment options during a banking crisis . They are issued by the government and backed by the full faith and credit of the government. This means that they are considered to be almost risk-free investments. In times of financial uncertainty, investors flock to government bonds as a safe haven for their money. High-Quality Corporate Bonds High-quality corporate bonds are another safe investment option during a banking crisis. Companies issue these bonds with strong credit ratings and financial stability. While they may not be as safe as … [Read more...] about Where to Invest During a Banking Crisis: Safe Options for Your Money
The 10 most innovative companies producing live events in 2023
Explore the full 2023 list of Fast Company’s Most Innovative Companies , 540 organizations that are reshaping industries and culture. We’ve selected the firms making the biggest impact across 54 categories, including advertising , beauty , design , and more. How do four septuagenarian Swedish pop stars pull off a dazzlingly energetic 20-song set list before thousands of fans in a custom-built stadium? Easy: They get their holograms to do it. ABBA Voyage , a stunning marriage of art and technology architected by the visual effects company Industrial Light & Magic (ILM), has been a critical and financial success. It’s also a symbol of how the live performance industry is being transformed by technology, as digital elements are deployed to deepen fan immersion while staying true to what makes a live music experience so irreplicable. With concerts becoming increasingly visual extravaganzas, artists have access to new mediums to explore their creative … [Read more...] about The 10 most innovative companies producing live events in 2023
BTS’ RM Scores Another Milestone Solo Top 10 Billboard Chart Hit
Share to Twitter Share to Linkedin Three South Korean musicians appear inside the top 10 of the Digital Song Sales chart this week in a show of popularity for artists from that part of the world. Two of those tunes are debuts, with one of them landing their intro hit, while another has added to their already impressive list of successes. So!YoON! and RM, both beloved South Korean artists, debut their joint single “Smoke Sprite” inside the top 10 on the Digital Song Sales chart, opening it at No. 9. The cut sold just over 5,200 copies, according to data shared by Luminate. “Smoke Sprite” is the first chart hit for So!YoON! and the fourth top 10 hit for RM as a soloist. As a member of the popular South Korean band, BTS, RM has sent 32 different songs into the highest tier on the Digital Song Sales chart. He now claims one of the most impressive collections of top 10 hits on the Digital Song Sales chart among South Korean musicians, ranking in third place … [Read more...] about BTS’ RM Scores Another Milestone Solo Top 10 Billboard Chart Hit
Nasdaq Readies To Launch Crypto Custody
Nasdaq Inc. ( NDAQ ) is getting close to launching its crypto custody business in the second quarter of the year, Bloomberg reported Friday. Key Takeaways Nasdaq readies the launch of crypto custody by end of the second quarter The exchange announced digital assets business last year Traditional financial institutions like BNY Mellon and Fidelity also offer crypto custody Nasdaq announced its foray into the digital assets business in September and will join traditional financial institutions such as Fidelity and BNY Mellon in offering crypto custody. The new digital offering will be headed by Ira Auerbach, who joins the company from Gemini, which was caught in the crosshairs of the FTX collapse . Auerbach was the Global Head of Gemini Prime, which was the company's prime brokerage service. The timing of Nasdaq's crypto custody launch could prove to be interesting. The U.S. Securities and Exchange Commission is keen on keeping a close eye on custodians … [Read more...] about Nasdaq Readies To Launch Crypto Custody
These 6 brands are growing by letting fans pursue their passions
A good product will win you customers, but it takes a lot more to create, cultivate, and keep true, actual fans. The magic word for most is community, and the brands here, being honored as part of Brands That Matter 2022, have found ways to foster and excite growing communities around them. Decades-old brands, including Fender guitars and Magic: The Gathering, are using new content to stay relevant. For Fender, this past year was about building a content hub full of tools for the millions of new people who started to play over the past few years as a COVID-19-lockdown-induced new hobby. Magic: The Gathering has leaned into celebrating a more diverse set of players with its direct-to-consumer platform, Secret Lair. Meanwhile, three-year-old wrestling upstart All Elite Wrestling has taken on a Goliath by showing a different side of its diverse lineup of stars. Here are the brands making the most of fun and fandom: All Elite Wrestling As discussions around mental … [Read more...] about These 6 brands are growing by letting fans pursue their passions
How Eventbrite CEO Julia Hartz brought the ticketing platform back from the brink
Eventbrite is No. 42 on Fast Company’s list of the World’s 50 Most Innovative Companies of 2023 . Explore the full list of companies that are reshaping industries and culture. Halloween. That’s the tell for Eventbrite . If the haunted yacht cruises and cemetery tours are reaching out to the event planning and digital ticketing platform to list and promote their events, then the Thanksgiving Eve bar crawls, holiday light shows, and New Year’s Eve specials will follow. During Halloween 2022, the number of paid events on Eventbrite grew 30% over 2019, and ticket volume beat the company’s prior record by more than 50%. The reinvigorated enthusiasm for live experiences has been a boon to Eventbrite’s fortunes—and a success made possible only because Julia Hartz, cofounder and CEO, has spent the past few years effectively re-founding the company, which she created with her husband, Kevin, and their technical cofounder Renaud Visage in 2006. After the pandemic hit in … [Read more...] about How Eventbrite CEO Julia Hartz brought the ticketing platform back from the brink
The 10 most innovative companies in beauty of 2023
Explore the full 2023 list of Fast Company’s Most Innovative Companies , 540 organizations that are reshaping industries and culture. We’ve selected the firms making the biggest impact across 54 categories, including advertising , architecture , design , and more. Nature has typically been the first place that beauty companies turn to for solutions to aging and skin imperfections. Now there’s a new source—biotech—and it takes its inspiration from the pharmaceutical industry. The move toward lab-generated ingredients that promise to improve on what scientists would find in nature dovetails with society’s larger embrace of personalized medicine, including cell and gene therapy, says Sarah Broyd, a partner at Durham, North Carolina–based Clarkston Consulting who specializes in consumer healthcare and pharmaceuticals. “Even the mRNA technology used in some of the COVID vaccines has contributed to a greater general understanding of how biotechnology works, which has … [Read more...] about The 10 most innovative companies in beauty of 2023