Is it time to buy First Republic at $6.00?
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F no. I'd rather buy anything else.
The Fed may force a sale. Will the sale provide enough value to cover equity investment? Now that's gambling (unless you have insider info).
The Fed wants these middle sized banks gone. I have enough fights to want to add defending some bankers.
If you want to gamble for some big potential gains on bankrupt companies try BBBY. It's a dime.
From an article I posted,
"As of this week, the Feds are not coming to rescue the local banks. They were not going to rescue Silicon Valley Bank until they had no choice. Commercial real estate has just as many powerful oligarchs as the tech sector, maybe more. That means everyone is going to be betting on yet another massive bailout of the banking sector."
Good luck with your bet.
"As of this week, the Feds are not coming to rescue the local banks. They were not going to rescue Silicon Valley Bank until they had no choice. Commercial real estate has just as many powerful oligarchs as the tech sector, maybe more. That means everyone is going to be betting on yet another massive bailout of the banking sector."
Good luck with your bet.
spinalcracker
Ground Beetle
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open up the window and check out the view
maybe short @$6 and ride to 0
American Airlines dropped down to around a dollar back in 9-11….that was a good entry point
maybe short @$6 and ride to 0
American Airlines dropped down to around a dollar back in 9-11….that was a good entry point
This smells Bad... like a FED and JPM orchestrated take down.
www.zerohedge.com
Me thinks things are getting REAL bad for them. So much so that they are starting to eat their own. JPM and the whole FED system needed some funding and are taking what they want from this bank for now.
JPMorgan, PNC To Buy First Republic After FDIC Seizure First Leaves Taxpayers Holding The Toxic Stuff | ZeroHedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com
Me thinks things are getting REAL bad for them. So much so that they are starting to eat their own. JPM and the whole FED system needed some funding and are taking what they want from this bank for now.
If you liked First Republic at $6, you should love PacWest at around $3...