bullish
Thanksgiving musings: What's done extremely well over the last year???
SUMMARY
- If anyone remembers, in the spring of last year, we had a banking crisis - multiple bank-runs that led to the some of the largest bank failures in US history.
- Sparked by the bankruptcy of FTX, Silvergate was first hit by a bank run before the subsequent panic-induced domino-closure of three highly reputable banks - Silicon Valley Bank (SVB), NY based Signature Bank and lastly, First Republic Bank.
- I still vividly remember the day, Peter Thiel “commanded his cronies” to pull their money out of SVB, ASAP; the stock gapped down bigly at opening and the rest is history.
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