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03-10-2023, 04:05 PM | #13291 |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $464734
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03-10-2023, 04:06 PM | #13292 |
fides quaerens intellectum
Join Date: Oct 2003
Location: United States
Casino cash: $8330900
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That is some really interesting data on that chart. I wish I could find that somewhere where I can see it.
Last edited by Jenson71; 03-10-2023 at 04:59 PM.. |
Posts: 15,986
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03-10-2023, 04:31 PM | #13293 |
Kind of a mod
Join Date: Aug 2005
Location: Donkey Land
Casino cash: $176899
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Apparently my work banks with them as well. That's...less than ideal.
Not sure the extent to which we have funds there, but they're at least in the portfolio. |
Posts: 52,495
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03-10-2023, 04:54 PM | #13294 |
Kind of a mod
Join Date: Aug 2005
Location: Donkey Land
Casino cash: $176899
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Actually, as I dig around a bit, I think they're mostly an investor rather than our "bank." So we're in the assets column rather than the deposits column. Still, could get interesting to see how that plays out.
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Posts: 52,495
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03-10-2023, 05:52 PM | #13295 |
Veteran
Join Date: Oct 2010
Casino cash: $4895409
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How many other banks are in the same death spiral? SVB weren't the only ones parking their assets in long term bonds.
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03-10-2023, 07:09 PM | #13296 |
Veteran
Join Date: Jan 2005
Location: SLC, UT
Casino cash: $8045460
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Why don’t you open a cash management account with Fidelity? They layer your deposits across multiple institutions and its FDIC insured up to $3mm. And the rate (4.22%) is probably higher than your banks.
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03-10-2023, 07:15 PM | #13297 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $81900
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03-10-2023, 07:17 PM | #13298 |
Veteran
Join Date: Jan 2005
Location: SLC, UT
Casino cash: $8045460
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Probably not too many. SVB balance sheet was made up of a high a percentage of long term, low yield assets.
Last edited by UteChief; 03-10-2023 at 07:27 PM.. |
Posts: 1,976
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03-10-2023, 08:38 PM | #13299 |
Fish are scared of me
Join Date: Nov 2001
Casino cash: $-29523
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I just bought 10 shares of QYLD because of all this mayhem. Must save myself!
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Posts: 40,645
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03-10-2023, 11:26 PM | #13300 |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $464734
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I’m setting up a similar deal with a different outfit, but I haven’t finished it yet. I’ll definitely look into Fidelity though, thanks.
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Posts: 57,998
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03-11-2023, 07:46 AM | #13301 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $81900
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Makes you wonder if you should have all assets over $250k separated into different accounts/institutions to protect from something like this. I've always been told no, it's not needed, however..............
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Posts: 46,133
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03-11-2023, 09:09 AM | #13302 |
Veteran
Join Date: Feb 2012
Location: DE
Casino cash: $9755019
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Just read that FDIC has enough on the books to insure about 1.3% of ALL current US deposits or about the size of all SVB.
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03-11-2023, 11:02 AM | #13303 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $81900
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Posts: 46,133
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03-11-2023, 02:44 PM | #13304 |
Veteran
Join Date: Feb 2012
Location: DE
Casino cash: $9755019
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Posts: 3,818
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03-11-2023, 03:10 PM | #13305 |
Kind of a mod
Join Date: Aug 2005
Location: Donkey Land
Casino cash: $176899
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Posts: 52,495
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