iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,419 Blog Posts

BANK RUN 2023: $SIVB COLLAPSES — WHO IS NEXT?

SVB halted down 50% plus. I stopped watching. It’s 100% over. Who were these fucking clowns? I’ll show you.

This was the wokest bank in America — and now they’re broke. Any questions?

The subsequent result of SI and now SIVB collapsing is contagion. Have a look.

How am I playing it?

I closed out my shorts at the open and now I bought back some TZA — but I am extremely hesitant to short into the hole because banks are systemic and the Fed will not sit idle without trying to intervene. There is a 100% chance of government intervention. Even Bill ACKMAN was calling for the govt to bail out SVB last night.

As you know, I keep a 100% long book at all times, so I’m fighting against the current. I’m down 79bps and although I’d love to be up and profiting from the demise of so many, this is the strategem that has worked for me so I’m patient.

My hege is about 20% of assets, so I’m net long. I’m net long because I don’t trust the meddling fuckers and expect chicanery soon.

If you enjoy the content at iBankCoin, please follow us on Twitter

3 comments

  1. soupbone

    Ackman is, in some way, talking his book. Gov’t involvement requires bail-in and equity gets wiped out. It’s not likely such specialized bank with assets and liabilities localized will be considered systemically important. Just a nice clean liquidity destroying event, perfect fit for the mandate at hand.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  2. Dr. Fly

    I doubled up TZA to 40%

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  3. flea

    “I keep a 100% long book at all times.”

    “My hege is about 20% of assets, so I’m net long”

    I’m trying to sort this out: How can you be 100% long and yet only ‘net’ long? No individual shorts?

    • 0
    • 0
    • 0 Deem this to be "Fake News"