Ah, I wasn’t thinking about the energy companies. I don’t think that’s a sign of their impending doom, though. It’s just an opportunistic move to take advantage of the ridiculous superprofits they got. They could pay these to shareholders as dividends but this has tax disadvantages, plus all their directors will own shitloads of share options that will be multiplied in value by a buyback. Also, dividends would get a lot of negative press but buybacks are more hidden. Basically, it’s a fucking scam and shouldn’t be allowed.
Global financial system implosion begins
- Thread starter Falcon
- Start date
ska invita
back on the other side
I wasn't thinking it meant impending doom! Seems profitable to them and more importantly for us waiting for it to collapse it gives a false impression of the real economy,
ska invita
back on the other side
In the sense that the historic high of the FTSE might suggest the economy is doing well... And it is for the rich... But the economy for the rest of us is very shit.
redsquirrel
This Machine Kills Progressives
What is the "real economy"?
gosub
~#
Concure. Qataris shored up that run last quarter but even with restructuring not the best of economic weather to be limping through
gosub
~#
I disagree. (Personally think it's a bull trap, )but regardless...yes numbers have pushed above pre pandemic levels but money isn't worth what it was then either. However I don't think all that money printing means the markets are undervalued demand for shipping has slowed right down, lay offs continue and people are maxing out credit cards as interest rates climb
CH1
"Red Guard"(NLYL)
Amid reports of a missing Chinese banker and calls to reallocate Australia's $2.3Tn pension pool to nation building, here is the question of the day in "Personal Finance":
Is fine wine exempt from capital gains tax?
Is fine wine exempt from capital gains tax?
ska invita
back on the other side
more buybacks
Lloyds promises £2bn share buyback as profits nearly double
CH1
"Red Guard"(NLYL)
And all those years of 0.01% interest rates.
not-bono-ever
meh
Share buyback bad vuggum
gosub
~#
CS EQUITY ALERT: ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Credit Suisse Group AG Investors With Losses In Excess of $100K to
23 February 2023 at 20:05 GMTCS EQUITY ALERT: ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Credit Suisse
Group AG Investors With Losses In Excess of $100K to Inquire About Securities
Class Action Investigation – CS
NEW YORK, Feb. 23, 2023 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global
investor rights law firm, announces an investigation of potential securities
claims on behalf of shareholders of Credit Suisse Group AG. (NYSE: CS)
resulting from allegations that Credit Suisse may have issued materially
misleading business information to the investing public.
SO WHAT: If you purchased Credit Suisse securities you may be entitled to
compensation without payment of any out of pocket fees or costs through a
contingency fee arrangement. The Rosen Law Firm is preparing a class action
seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to
Submit form - The Rosen Law or call Phillip Kim, Esq.
toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com
for information on the class action.
WHAT IS THIS ABOUT: On February 9, 2023, Credit Suisse reported that clients
had withdrawn over $119.6 billion in the last three months of 2022, exceeding
market expectations. On this news, the price of Credit Suisse ADR’s fell over
15.6%. On February 21, 2023, Reuters published an article entitled “Exclusive:
Credit Suisse chairman’s comments draw scrutiny from financial watchdog-
sources.” The article stated that the Swiss financial regulator was probing
“the extent to which Credit Suisse’s Chairman, and other Credit Suisse
representatives were still withdrawing funds when he said in media interviews
that outflows had stopped.” In early December, 2022, Credit Suisse’s Chairman,
Axel Lehmann, had said in media interviews that outflows had “completely
flattened out”, “partially reversed,” and “basically stopped.”
On this news, the price of Credit Suisse ADR’s fell as much as 4% in intra-day
trading before closing down 3.3% at $2.92 on February 21, 2023.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track
record of success in leadership roles. Often, firms issuing notices do not
have comparable experience, resources, or any meaningful peer recognition.
Many of these firms do not actually litigate securities class actions. Be wise
in selecting counsel. The Rosen Law Firm represents investors throughout the
globe, concentrating its practice in securities class actions and shareholder
derivative litigation. Rosen Law Firm has achieved the largest ever securities
class action settlement against a Chinese Company. Rosen Law Firm was Ranked
No. 1 by ISS Securities Class Action Services for number of securities class
action settlements in 2017. The firm has been ranked in the top 4 each year
since 2013 and has recovered hundreds of millions of dollars for investors. In
2019 alone the firm secured over $438 million for investors. In 2020, founding
partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many
of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
Attorney Advertising. Prior results do not guarantee a similar outcome.
-------------------------------
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
bluescreen
tofu eating wokerati
But Credit Suisse has been in trouble for some time. It's often talked about as too big to fail. It may also be too big to bail. What do you think? Do you think this is it beginning of the end for more than just Credit Suisse?
bluescreen
tofu eating wokerati
Yes, but who will they take down with them? Will it cause a general run, do you reckon?
FWIW (and I'm only a very casual observer) the marvel to me is that CS have kept the balls in the air as long as they have.
FWIW (and I'm only a very casual observer) the marvel to me is that CS have kept the balls in the air as long as they have.
bluescreen
tofu eating wokerati
Not sure I'm following you. Could you expand on that, please? Are you suggesting a contagious meltdown?
newme
Giant in Pastyland now
Check out Evergrande... and all the Zombie stocks.
gosub
~#
Ended up rewatching The Big Short this week, remember watching Inside Job with the Irish RFU team one Friday night back in the day. I also quite liked Margin Call but if that's what your asking it ain't my call to make
Books, I've read few but then again, it's a multi media attention span age
Books, I've read few but then again, it's a multi media attention span age
gosub
~#
Is this the right thread to question the wisdom of incentivising a load of people in negative equity to go on a credit card spree? (As you mention Evergrande)
AnnO'Neemus
Is so vanilla
newme
Giant in Pastyland now
No clue lol I cashed out everything before it went pear shaped. Well more of a 'descending triangle' tho some dead cat bounces were profitable. Fucked up tho that's the case. I'll be tucked away in interest earning things for a while. Credit cards are debit cards with a reward scheme used fortunately, either credit building or cashback. If not they are desperately sad for those relying on them. I've done it. Its not good but v soke alternatives irs better. Which in itself is just more worse. The credit card debt increase chart in the US is terrifying if that's what's supposed to be the richest one. Then again like 70% of living there appears to be.
CH1
"Red Guard"(NLYL)
gosub
~#
Warren Buffett delivers clear inflation warning, slams 'disgusting' business leader behavior in annual letter
Billionaire Warren Buffett issued a clear inflation warning and hit at 'disgusting' money manager behavior in his annual letter to Berkshire Hathaway shareholders.
I’m a bit confused as to the relevance to this thread? Unless you mean his bombastic nationalism, when he says:Warren Buffett delivers clear inflation warning, slams 'disgusting' business leader behavior in annual letter
Billionaire Warren Buffett issued a clear inflation warning and hit at 'disgusting' money manager behavior in his annual letter to Berkshire Hathaway shareholders.www.foxbusiness.com
“I have been investing for 80 years – more than one-third of our country’s lifetime. Despite our citizens’ penchant – almost enthusiasm – for self-criticism and self-doubt, I have yet to see a time when it made sense to make a long-term bet against America," he said. "And I doubt very much that any reader of this letter will have a different experience in the future."?
gosub
~#
You don't think
Finally, an important warning: Even the operating earnings figure that we favor can easily be manipulated by managers who wish to do so. Such tampering is often thought of as sophisticated by CEOs, directors and their advisors. Reporters and analysts embrace its existence as well," he said.
"That activity is disgusting. It requires no talent to manipulate numbers: Only a deep desire to deceive is required."
Buffett said that deception under the guise of "bold imaginative accounting" has "become one of the shames of capitalism" has any place in a thread with this title?
I have to say I have more time for Mr Buffett than I did, my late Dad always found his intrusion into the sector a pain in the arse and considered some of his company's practices a bit sharp....but he (WB) blinked when he needed to
Finally, an important warning: Even the operating earnings figure that we favor can easily be manipulated by managers who wish to do so. Such tampering is often thought of as sophisticated by CEOs, directors and their advisors. Reporters and analysts embrace its existence as well," he said.
"That activity is disgusting. It requires no talent to manipulate numbers: Only a deep desire to deceive is required."
Buffett said that deception under the guise of "bold imaginative accounting" has "become one of the shames of capitalism" has any place in a thread with this title?
I have to say I have more time for Mr Buffett than I did, my late Dad always found his intrusion into the sector a pain in the arse and considered some of his company's practices a bit sharp....but he (WB) blinked when he needed to
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Well, the idea that people manage to the metrics that are focussed on is hardly a revelation, nor is it new. Buffet himself was complaining about the corporate focus on EBITDA way back in 2000*. There has always been an arms race between analysts looking for insight into companies and the finance functions and management of a company seeking to present it in the best light.
*source: Buffet’s letter — https://www.berkshirehathaway.com/letters/2000pdf.pdf
*source: Buffet’s letter — https://www.berkshirehathaway.com/letters/2000pdf.pdf
gosub
~#
Airspeed is still airspeed altitude is still altitude and a compass is still a compass.. but yep lots of bells, whistles and bing bongs in the modern cockpit some of them can be useful.
gosub
~#
Fannie Mae just made it easier to get a mortgage with no credit score
Mortgage lenders can now use bank statements when a borrower has no score to assess credit risk, thanks to new changes from Fannie Mae.
www.businessinsider.com
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