Castanza

Is "waiting to see how credit markets tighten" a copout answer or is it just me? It's really the perfect thing to say while being able to save face with all that has gone on this past month.

Thanks

NEB?

So what are the banks?

I don't think anyone on here is panicking considering the discussion is primarily "what banks to buy and how to capitalize on a seemingly irrational fear of bank runs."

Not if you’re homeless lol

I think you’d see doctors replaced by AI before you see nurses. At the end of the day Nurses are the “blue collar” workforce in the healthcare industry. Where doctors and morels pharmacists answer questions and diagnose, nurses carry out the procedures, deal with the people etc. I don’t really think either will be replaced, but I can see some diagnosis chart reading, etc being handed over to the machines. A buddy of mine is a pharmacist and he said all he does is answer questions on the phone all day. The litmus test for “AI-able jobs” will be do they require knowledge AND physical skill to carry out. A lot of white collar jobs are just knowledge and nothing else.

Depends on the specialization. My wife is NICU and at least in her field it has gotten highly technical.

I think any white collar job is in scope the further you look out. I can think of a bunch of jobs my co workers do while collecting 100k plus a year that could be automated now. The only thing preventing that for the most part is appetite to throw resources at that problem. If AI brings to market pre packaged solutions companies can implement seamlessly (or as they stand up the business) you’ll see a wave of change. It’s an ironic situation that just 10-15 years ago it was “go to college and learn to code”. Then some of those very same coders spent the next 10-15 years potentially coding themselves and others in tech out of a job. A lot of noise out there though. But the solutions seem more real than those promised from blockchain Yup, there is already a large shortage and an aging workforce in the trades.

Yeah the chart is just a ballpark idea intended to point out outliers Do any of the banks show deposit withdrawals according to industry? I’d be willing to bet most are from high cash burn, high rev, no profit businesses (tech). Most small businesses outside of tech are probably more concerned with running their operations than where specifically their money is held. Probably the exact reason SVB was flooded with VC and tech capital. “It was easy to go there so everyone went there”. Looking at banks with low tech exposure, recession proof depositors (businesses) and thin commercial real estate loan books is probably the play. Question is can you even get that granular?

The trades future has never looked so bright.

Semi useful chart

@boilermaker75 I do see your perspective on liberal arts course and their importance. My perspective is more from a cost centric/time/efficiency basis than anything else. I do agree the humanities are important subjects of study…just difficult for me to see them fitting into higher education in its current state.

Yup, in a world that is moving faster and faster we are lengthening the time it takes for kids to become mature adults and do "adult things." Higher education for 90% of the schools out there has just become one big daycare for immature 20 year-olds. Most kids today don't even have jobs when they are in their adolescence years. We have generations of 20 years-olds with no life experience, no work experience, mommy and daddy subsidized lifestyles, and mounds of debt with very little realistic expectations of the "real world." Instead of working through those self discovery/life challenge processes when they are 16-20 they are now doing it when they are 22-26. I was building and installing counter tops and cabinets with my dad when I was 13 on weekends. Had a small grass cutting business when I was 16. Worked a retail job on top of that 15-20hrs a week. Was a camp counselor every summer for a few weeks. Played school sports from 7th-12th grade. This wasn't anything special either! Most kids I knew had similar responsibilities in their life. Most kids today do a few volunteer things just to put on their college application and spend 80% of their time in sports trying to get a scholarship and call it a day. The US education system is creating less responsible people at older ages. It's going to be one Hell of a ride when the influencer/tiktok generation starts to have children.

When I was studying Geology I had to take a literature course. We spent an entire semester reading some fictional novel about Native Americans. We had a ton of papers and the professor graded extremely hard. I was in the class with a bunch of other STEM majors and everyone absolutely hated the course. It took away a ton of time from being able to study important topics like Organic Chemistry and Calc. It provided NO benefit to our future professions and simply cost us time and money. We don't make trade schools teach liberal arts on top of learning how to wire a breaker box. Why should we force STEM majors to do the same? If k-12 is to prepare you for college with the a base load knowledge and knowhow then why do we need to repeat it at the university level? Most of it seems like a way to justify the jobs of some PhD academics who studied some obscure topic and then give them value by forcing their course on students who couldn't give a damn. If you have a kid who is an all-star at math let them focus on math. They're paying for it after all. Look at med school here in the US. You have to go 4 years undergrad before going for your MD. Plenty of countries out there that don't have this requirement and graduate very proficient doctors. You can go right to med school and your studies are all geared towards your future profession. When cost is a problem you have to find ways to cut the fat.

Peter Thiel and George Soros are geniuses with IQ's probably in the 130+ range. Hardly comparable to your average student headed to college that comes from an average household with average income to pay for ridiculously expensive courses. When Thiel and Soros went to college the cost and environment were very different than today. You need to adapt the system to the environment it resides in. The US Liberal Arts system has been getting progressively worse and worse on a global scale. Making future mech engineers, programmers, accountants, or biology teachers sit through a repeat course of poly sci, literature, or phys ed improves their core skill set how? It's simply a way to rake them over the coals for more money. Liberal arts has it's place! I think k-12 should be much more rigorous than it currently is. Less focus on sports and more focus on academics would be a big plus for this country.

Eh idk, wtf is the point of k-12 if when you get to university you have to take Eng 1&2, Political Science, Literature, some elective like physical education/health and then an additional elective like philosophy? Probably half dozen more courses you have to take that are useless towards your degree. If you don't know that by 12th grade then you shouldn't be going to college. It's a way to nickel and dime students and take away time from studying their core curriculum. Yeah, you can take AP in HS and test out of some of those courses. But in a lot of HS the AP classes are capped and not everyone can get in. that's how it was where I went. We had like 500 graduating class and maybe 75 students in the AP courses. I was lucky to get in a few and skip Eng 1 and Political Science in college. You could easily cut Higher Education timeline in half in the US. K-12 is useless IF you require the same courses when you get to college.

Yup, my question as well. If those HTM securities moved down in value as bond rates went up and forced some to sell then MTM wouldn’t we also see the reverse of rates come down? I guess the question is how does the accounting around this work?

Ok gotcha, that makes sense from that standpoint Thanks

But isn't it counter intuitive to approach the issue of fewer good, more money by killing jobs? Why not let those prices inflate till consumers no longer want to pay? At that point you either innovate to bring prices down or go out of business because nobody wants your product. <---losing jobs due to lack of market demand vs intentional destruction. Or are we past that because we don't have a free market to begin with? It just seems so asinine to hear "We need to kill jobs so people have less to spend on products that are too expensive." @changegonnacome Unproductive means what exactly in your post above?

DPSGY

SU, OXY, BRKb Starter in TPL again

This whole issue just shows how addicted to ZIRP we've become. Every f-boy pundit is screaming their head off for rate cuts. Has JPow overdone it? Yeah, maybe idk....I do think the hikes were way too fast. "Like a junkie kicking a bad habit"

Wells 9.5b shelf offering https://www.teletrader.com/wells-fargo-announces-9-5b-mixed-shelf-offering/news/details/59639946

Seems to be a small rumor that Buffett could be buying PNC. Saw some references on fintwit and then Motley Fool Money had speculated about this as well and also said PNC. Anyone else here something similar?