account formerly known as Something Clever, now just an idiot asking questions
Joined August 2021
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This account turned a bit after I took one of those fancy jobs, so now I mainly just ask dumb questions rather than try to provide much insight. Still happy to chat with anyone via DM on bank stuff, but I created that dumb named account a while ago before I had any hubris
Happy to see @abcampbell getting a lot of love out there today. His post on silver last year got me digging not only on SLV but the miners too. Ended up buying LEAPS that really helped my year
It’s incredible that people think this company does a 5% ROA
$SOFI This is just my general understanding. Correct me if I'm wrong. For every billion SOFI raises they can lend 10 billion. If you lend 10 billion and make 5% annually on it, in roughly 2 years you will make back the initial billion........ Can I have some more dilution please?
NYC subways are on a pretty good run of just the most dystopian ads you can imagine:
First was FaceTune - aka AI makeup
Next was the ketamine depression prescription ads
Now it’s Friend.com - which is an AI wearable you put on a necklace to be your friend
Im not a Kimmel fan by any means but what a load of horse shit from this Benny Johnson clown
Trying to compare this with the fucking calamity of lies that come out of ACTUAL news broadcasts from both Fox and CNN over the last few years is absurd
This type grifting is a disgrace
ABC holds taxpayer-funded broadcast licenses with the explicit legal duty to serve in the ‘public interest’ with fair and truthful coverage.
Yet Jimmy Kimmel went on air and told the ABC audience that Charlie Kirk’s assassin was a MAGA conservative, effectively blaming Charlie Kirk for his own assassination.
Then he accusing the right of covering it up to “score political points.”
All of these statements are false and malicious lies told at the expense of one of the most horrific acts of left-wing political violence in American history.
If ABC refuses to issue a full on-air apology from Kimmel and corrective action their broadcast license should be revoked by the federal government immediately. I have reached out to the @FCC and @BrendanCarrFCC for comment and action on this issue.
These are the kind of vicious, dehumanizing lies that led to this current moment of radicalized, deadly leftist violence.
@ABC must be held accountable.
Trying to peg this as “malicious lies” is just insane. He’s just obvious left-leaning, not to mention he works on a comedy show.
I’m certainly not making a comment on what political denomination the shooter followed, or that it’s not an incendiary comment. It obviously is.
Man @AirCanada is kinda the worst
Just an absolutely miserable experience dealing with a laptop retrieval right now that should’ve taken all of 10 minutes. Was literally in the sleeve of a specific seat. De-board, realized quickly, and somehow 24hr later they still can’t find it
This seems like a pretty insane exchange.
Man tries to rob you, and the end result is him telling you to be careful of getting robbed?
Just did an exercise testing this against the master trust data from literally every large card issuer and the DQ data is so disconnected from this it’s not even in same ballpark. 30 day+ DQs are on average at like 3.8%. What am I missing?
@tangentstyle
Credit card delinquencies just surged to 12.3% – the highest level since the Global Financial Crisis.
With student loan repayment collections resuming, those delinquencies have also jumped to 10% and are poised to climb further as borrowers struggle with outdated terms or refuse to pay after nearly three years of forbearance.
Auto loans are showing similar strain, with delinquencies near 5%, a 14-year high. Rising delinquencies signal that consumers are under mounting financial pressure.
Listen I hate this guy @jamesfishback but what a hilarious grifter campaign he has been on for past yr
Listen dude, nobody cares what you have to say and maybe you get some pathetic position in the Trump admin but it will last for 2 yrs and your credibility will be ruined for life
Finally got around to listening to the Chris Hohn interview and when asked about what sectors he never invest in without hesitation his first answer is Banks
Funny thing is I knew immediately when the question was posed that would be his answer. It truly is such an awful space
Who tf is J Capital Research, was reading their Marqeta report, while I don’t disagree that they are probably in a box here, a lot of this analysis is just straight up bad
This was written by someone who doesn’t understand bank capital ratios likely at all
$SOFI just filed an offering of $1.5B of common stock with an option to increase that by 15% to $1.725B. The price of the offering is unspecified. If it's at today's closing price, this is an additional 6-7% dilution.
The stock is down 6% in the AH on the news.
I'm not a fan.
They are profitable and they have all the cash and capital they need to continue to grow the business with organic profits. If they aren't raising this capital for an immediate and substantially accretive acquisition, and it doesn't look like they are according to the press release, I'm pretty over having my shares diluted.
The upside is that now they have a ton of room to grow the balance sheet. This is an extra $10B of loans they can hold on their books and they should be able to get 20%-30% levered returns on that capital. The down side is obvious - my shares now represent ownership of a smaller portion of the company than they did this morning.
Do I trust that management will use the capital well? Yes, I do. However, at this point, in my opinion, it's time for the business to stand on its own to feet and to stop diluting the shareholders to raise more capital for growth.
The funniest part about this is the only substantially remaining bank to still bank the crypto CEXs and other crypto native companies has moved their original platform (which was blockchain based) to one that is in essence just an internally hosted digital payments rail
Once you think about Tucker Carlson being a russian propaganda machine, the Ted Cruz slap around no longer has the same meaning