As a math teacher for almost 20 years, I can confirm the answer is 9, unless you are over 100 years old. Then the answer can be 1 or really whatever you want it to be because I'm not going to argue with a centenarian.
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Last: 11 sec ago by cjo03
It's kind of surprising to me how bad at math people are. I know in general it was bad but thought this thread might be above average. I guess the appropriate problem for this thread is this one:
https://www.insider.com/math-riddle-stumping-the-internet-2018-2
A man buys a horse for $60. He sells the horse for $70. He then buys the horse back for $80. And he sells the horse again for $90. In the end, how much money did the man make or lose? Or did he break even?
I'll feel better if people here get this one correct.
https://www.insider.com/math-riddle-stumping-the-internet-2018-2
A man buys a horse for $60. He sells the horse for $70. He then buys the horse back for $80. And he sells the horse again for $90. In the end, how much money did the man make or lose? Or did he break even?
I'll feel better if people here get this one correct.
He lost money as he had to feed the horse and shovel s***.
UBS offers to buy Credit Suisse for up to $1 billion, the Financial Times reports
https://www.cnbc.com/2023/03/19/ubs-offers-to-buy-credit-suisse-for-up-to-1-billion-the-financial-times-reports.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard
https://www.cnbc.com/2023/03/19/ubs-offers-to-buy-credit-suisse-for-up-to-1-billion-the-financial-times-reports.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard
He lost money since he took the $90 and went and bought 0DTE calls.
Don't you have to factor in PVFNI?slacker00 said:
It's kind of surprising to me how bad at math people are. I know in general it was bad but thought this thread might be above average. I guess the appropriate problem for this thread is this one:
https://www.insider.com/math-riddle-stumping-the-internet-2018-2
A man buys a horse for $60. He sells the horse for $70. He then buys the horse back for $80. And he sells the horse again for $90. In the end, how much money did the man make or lose? Or did he break even?
I'll feel better if people here get this one correct.
ProgN said:
UBS offers to buy Credit Suisse for up to $1 billion, the Financial Times reports
https://www.cnbc.com/2023/03/19/ubs-offers-to-buy-credit-suisse-for-up-to-1-billion-the-financial-times-reports.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard
And that's the appropriate valuation. These unrealized losses hammer equity, and when you buy the assets of a company, you buy their investments and any unrealized losses associated with them.
If you overpay then you get the unrealized losses and blue sky intangible assets as well, further degrading the tangible equity already on your balance sheet.
JPow and his crew have a truly life changing moment in front of them, and the Manhattan DA gave them cover from what should have been a hellacious weekend of news.
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ProgN said:
UBS offers to buy Credit Suisse for up to $1 billion, the Financial Times reports
https://www.cnbc.com/2023/03/19/ubs-offers-to-buy-credit-suisse-for-up-to-1-billion-the-financial-times-reports.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard
Their book is $530B. Holy moly that's a whopper
slacker00 said:
It's kind of surprising to me how bad at math people are. I know in general it was bad but thought this thread might be above average. I guess the appropriate problem for this thread is this one:
https://www.insider.com/math-riddle-stumping-the-internet-2018-2
A man buys a horse for $60. He sells the horse for $70. He then buys the horse back for $80. And he sells the horse again for $90. In the end, how much money did the man make or lose? Or did he break even?
I'll feel better if people here get this one correct.
He made $20
10
Several months ago I started paying the $4 per month for WSJ. While I keep an eye on Texags, Twitter, and other online news sources, it's good (and worth it) to have the access to a pretty good, consistent news source.
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$17.40 assuming .65/contract
Bonfire1996 said:ProgN said:
UBS offers to buy Credit Suisse for up to $1 billion, the Financial Times reports
https://www.cnbc.com/2023/03/19/ubs-offers-to-buy-credit-suisse-for-up-to-1-billion-the-financial-times-reports.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard
And that's the appropriate valuation. These unrealized losses hammer equity, and when you buy the assets of a company, you buy their investments and any unrealized losses associated with them.
If you overpay then you get the unrealized losses and blue sky intangible assets as well, further degrading the tangible equity already on your balance sheet.
JPow and his crew have a truly life changing moment in front of them, and the Manhattan DA gave them cover from what should have been a hellacious weekend of news.
So does this mean every bank right now is grossly overvalued? Credit Suisse had a market cap of $8B and sells for $1B. The price discovery could get uglier. Reports out Friday night FRC is looking to sell stock to raise capital. I haven't see any new news on that. If they cant get capital, market values it at nothing.
The Saudi's will be less than thrilled about their recent $1B infusion into CS. Yikes….
They're reestablishing diplomatic relations with Iran so screw them.
Dan Scott said:Bonfire1996 said:ProgN said:
UBS offers to buy Credit Suisse for up to $1 billion, the Financial Times reports
https://www.cnbc.com/2023/03/19/ubs-offers-to-buy-credit-suisse-for-up-to-1-billion-the-financial-times-reports.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard
And that's the appropriate valuation. These unrealized losses hammer equity, and when you buy the assets of a company, you buy their investments and any unrealized losses associated with them.
If you overpay then you get the unrealized losses and blue sky intangible assets as well, further degrading the tangible equity already on your balance sheet.
JPow and his crew have a truly life changing moment in front of them, and the Manhattan DA gave them cover from what should have been a hellacious weekend of news.
So does this mean every bank right now is grossly overvalued? Credit Suisse had a market cap of $8B and sells for $1B. The price discovery could get uglier. Reports out Friday night FRC is looking to sell stock to raise capital. I haven't see any new news on that. If they can get capitals to market values it at nothing.
Again. Bonfire is only focusing on this one thing. There are many things they go into a banks valuation.
41 got 9
Can Bill Hackman's BoA rumor of buying Signature Monday come to fruition? Yea I may be porked regardless, but one can always hope for a positive outcome. Especially with all these shorts waiting to come up like sows.
I can barely equate 9 on a simple algebraic question, somebody throw this little guy a life preserver.
Either way, planning a trip to Spain. I think i'll just piss my money away on living. Far more enjoyable.
P.S Anybody watch UFC last night? Loved watching Usman fall short.
P.S.S Need Carly Baker on Every Card
Can Bill Hackman's BoA rumor of buying Signature Monday come to fruition? Yea I may be porked regardless, but one can always hope for a positive outcome. Especially with all these shorts waiting to come up like sows.
I can barely equate 9 on a simple algebraic question, somebody throw this little guy a life preserver.
Either way, planning a trip to Spain. I think i'll just piss my money away on living. Far more enjoyable.
P.S Anybody watch UFC last night? Loved watching Usman fall short.
P.S.S Need Carly Baker on Every Card
We need more information. Did he have a daughter that rode the horse? If so he lost a whole lot!slacker00 said:
It's kind of surprising to me how bad at math people are. I know in general it was bad but thought this thread might be above average. I guess the appropriate problem for this thread is this one:
https://www.insider.com/math-riddle-stumping-the-internet-2018-2
A man buys a horse for $60. He sells the horse for $70. He then buys the horse back for $80. And he sells the horse again for $90. In the end, how much money did the man make or lose? Or did he break even?
I'll feel better if people here get this one correct.
In a liquidity crisis? Yes. If a bank can't access liquidity without taking a 50% hit to capital, that's a major valuation problem. And the subsequent poster is correct, this is one metric, but where he and others miss the point is in this current liquidity and inflation crisis, this is the only metric that matters. Banks must have sound capital structures to access emergency liquidity, and these bond portfolios are a major problem.Dan Scott said:Bonfire1996 said:ProgN said:
UBS offers to buy Credit Suisse for up to $1 billion, the Financial Times reports
https://www.cnbc.com/2023/03/19/ubs-offers-to-buy-credit-suisse-for-up-to-1-billion-the-financial-times-reports.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard
And that's the appropriate valuation. These unrealized losses hammer equity, and when you buy the assets of a company, you buy their investments and any unrealized losses associated with them.
If you overpay then you get the unrealized losses and blue sky intangible assets as well, further degrading the tangible equity already on your balance sheet.
JPow and his crew have a truly life changing moment in front of them, and the Manhattan DA gave them cover from what should have been a hellacious weekend of news.
So does this mean every bank right now is grossly overvalued? Credit Suisse had a market cap of $8B and sells for $1B. The price discovery could get uglier. Reports out Friday night FRC is looking to sell stock to raise capital. I haven't see any new news on that. If they cant get capital, market values it at nothing.
Liquidity matters. Selling bonds at a loss would still provide liquidity. Let's look at Frost. Their unrealized loss is roughly 35% of capital. If they had to realize 100% of the loss to provide liquidity it would be because deposits had flocked out of the bank. If you look at every other metric to evaluate the safety of Frost, there would be no reason to take your money out.
If they had to sell a portion of the portfolio for liquidity, their earnings power could replace the capital in a few quarters time.
Assuming we get past this without a bank run, I'm more concerned about the credit portfolio of many regional banks with broad exposure to real estate. Also concerned with banks that have leveraged loan portfolios to private equity and/or tech.
If they had to sell a portion of the portfolio for liquidity, their earnings power could replace the capital in a few quarters time.
Assuming we get past this without a bank run, I'm more concerned about the credit portfolio of many regional banks with broad exposure to real estate. Also concerned with banks that have leveraged loan portfolios to private equity and/or tech.
Frost would have to issue new shares to raise capital with a 35% hit to equity. They trip capital ratios when that happens.cgh1999 said:
Liquidity matters. Selling bonds at a loss would still provide liquidity. Let's look at Frost. Their unrealized loss is roughly 35% of capital. If they had to realize 100% of the loss to provide liquidity it would be because deposits had flocked out of the bank. If you look at every other metric to evaluate the safety of Frost, there would be no reason to take your money out.
If they had to sell a portion of the portfolio for liquidity, their earnings power could replace the capital in a few quarters time.
Assuming we get past this without a bank run, I'm more concerned about the credit portfolio of many regional banks with broad exposure to real estate. Also concerned with banks that have leveraged loan portfolios to private equity and/or tech.
Look at what just happened with Credit Suisse and UBS. UBS wouldn't buy them unless the Swiss National Bank ate the first $9 Billion of their impending bond portfolio losses at par.
It isn't that banks can replace capital through earnings, they can. Bank are required to keep certain capital ratios at all times. Banks that pay dividends or grow deposits cannot afford 30% or more hits to capital. They trip ratios, that leads to regulatory lock down, bond downgrades, stock tumbling, liquidity crunch as confidence wanes, and it cascades to insolvency.
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cgh1999 said:
Liquidity matters. Selling bonds at a loss would still provide liquidity. Let's look at Frost. Their unrealized loss is roughly 35% of capital. If they had to realize 100% of the loss to provide liquidity it would be because deposits had flocked out of the bank. If you look at every other metric to evaluate the safety of Frost, there would be no reason to take your money out.
If they had to sell a portion of the portfolio for liquidity, their earnings power could replace the capital in a few quarters time.
Assuming we get past this without a bank run, I'm more concerned about the credit portfolio of many regional banks with broad exposure to real estate. Also concerned with banks that have leveraged loan portfolios to private equity and/or tech.
Just gonna leave this here….
Real estate exposure front and center for regional banks. pic.twitter.com/WkrWu4gMm5
— Rick Palacios Jr. (@RickPalaciosJr) March 17, 2023
I don't what the right exposure is but I suspect well south of 100% and pretty far north of 0%.
Bitcoin $28K. As long as banking system in turmoil it'll keep going. NVDA should follow too.
UBS for Credit Suisse ends up being for $3.2 billion.
Good regionals shouldn't be facing this problem.... The fear mongering and picking winners is what will collapse it.
Most have managed interest rate risk.
Most have managed interest rate risk.
I tried my hand at developing a trading view signal script. Let me know what you think.
https://www.tradingview.com/script/S1y35p8F-Intraday-Long-Short-Strategy-with-TDI/
https://www.tradingview.com/script/S1y35p8F-Intraday-Long-Short-Strategy-with-TDI/
What Ma or EMa's are you using for those crosses/signals? Thanks for sharing.
I also created an aggressive version of this to signal early entry but I haven't had a chance to fine tune it yet. It works really well on daily time horizon for individual stocks but it's not great on /NQ and /ES in general. It's generating too many false alerts intraday so I have to figure out how to distill it.
smstork1007 said:
What Ma or EMa's are you using for those crosses/signals? Thanks for sharing.
5/12 ema
Bonfire: Can you explain the information for First Financial on the RA-I compared to the annual financial statement?
Above is the financial statement for FFIN on 12/22. In the RA-I, it shows $1.509 billion in bank equity capital and -631m in comprehensive income.
Can you help me reconcile these numbers as it relates to their balance sheet? Thanks!
looks like "Not QE" and "Not Bailouts" wasn't good enough
— Conks 🥷 (@concodanomics) March 19, 2023
introducing "Now Swap Lines" https://t.co/2JZB00uRR7
Behind the scenes look pic.twitter.com/o0RmgliI98
— Mia (@_miapaz_) March 19, 2023
Thank you. Looks interesting.
Biggest oil bull on the street reduced price target. Goldman now has 12 month price target on Brent at $94.
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