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Stock Thread (26 Viewers)
- Thread starter St. Louis Bob
- Start date
ghostguy123
Footballguy
I only have 870 shares of CYDY and it makes me very sad.
ex-ghost
Footballguy
ghostguy123
Footballguy
I haven't gone out to eat at a restaurant since March
caustic
Footballguy
Had one a couple weeks ago right when it opened up and it was awesome.I haven’t gotten a real haircut since January.
caustic
Footballguy
CNBC: The Federal Reserve put new restrictions on the U.S. banking industry Thursday after its annual stress test found that several banks could get uncomfortably close to minimum capital levels in scenarios tied to the coronavirus pandemic.
The Fed said in a release that big banks will be required to suspend share buybacks and cap dividend payments at their current level for the third quarter of this year. The regulator also said that it would only allow dividends to be paid based on a formula tied to a bank’s recent earnings.
The Fed said in a release that big banks will be required to suspend share buybacks and cap dividend payments at their current level for the third quarter of this year. The regulator also said that it would only allow dividends to be paid based on a formula tied to a bank’s recent earnings.
caustic
Footballguy
Furthermore, the industry will be subject to ongoing scrutiny: For the first time in the decade-long history of the stress test, banks will have to resubmit their payout plans again later this year.
“While I expect banks will continue to manage their capital actions and liquidity risk prudently, and in support of the real economy, there is material uncertainty about the trajectory for the economic recovery,” Fed Vice Chair Randall Quarles said in a statement. “As a result, the Board is taking action to assess banks’ conditions more intensively and to require the largest banks to adopt prudent measures to preserve capital in the coming months.”
The move signals that the unprecedented nature of the coronavirus pandemic, and the difficulty in forecasting what the future holds for banks, is making the Fed cautious. Regulators and the industry are keen to avoid the mistakes of the previous crisis, where firms continued to allow billions of dollars in payouts and then had to later raise capital. The biggest U.S. banks already said in March that they would voluntarily suspend share repurchases, which make up roughly 70% of capital payouts for the industry.
What remained were the dividends, which bank analysts have mostly assumed would remain at their current levels – with the exception of Wells Fargo, which is struggling to restore profits after its fake accounts scandal. Still, options market traders have bet that banks would be forced to cut dividends, even at JPMorgan Chase, the biggest and most profitable of the megabanks.
The banks are expected to disclose their capital plans, and whether they actually maintain their current dividend payouts, on Monday, June 29.
“While I expect banks will continue to manage their capital actions and liquidity risk prudently, and in support of the real economy, there is material uncertainty about the trajectory for the economic recovery,” Fed Vice Chair Randall Quarles said in a statement. “As a result, the Board is taking action to assess banks’ conditions more intensively and to require the largest banks to adopt prudent measures to preserve capital in the coming months.”
The move signals that the unprecedented nature of the coronavirus pandemic, and the difficulty in forecasting what the future holds for banks, is making the Fed cautious. Regulators and the industry are keen to avoid the mistakes of the previous crisis, where firms continued to allow billions of dollars in payouts and then had to later raise capital. The biggest U.S. banks already said in March that they would voluntarily suspend share repurchases, which make up roughly 70% of capital payouts for the industry.
What remained were the dividends, which bank analysts have mostly assumed would remain at their current levels – with the exception of Wells Fargo, which is struggling to restore profits after its fake accounts scandal. Still, options market traders have bet that banks would be forced to cut dividends, even at JPMorgan Chase, the biggest and most profitable of the megabanks.
The banks are expected to disclose their capital plans, and whether they actually maintain their current dividend payouts, on Monday, June 29.
caustic
Footballguy
On top of the Fed’s typical test, which examines how lenders fare during a severe economic downturn, the regulator looked at three scenarios tied to the current pandemic: A V-shaped recession and recovery, a slower U-shaped outlook, and a W-shaped scenario that would include a double-dip recession.
Since the real economic fallout from the pandemic already exceeds the typical severe economic downturn from previous exams, it is these three scenarios that will garner the most interest from bank investors.
While the Fed was careful to say that the scenarios were not predictions of what will actually happen, they do hew closely to what bank executives have said could be the course of the economy: Unemployment would peak at up to 19.5%.
That could cause up to $700 billion in loan losses for the 34 banks in the exam, and the industry’s aggregate capital ratios could fall from the 12% at the end of 2019 to between 9.5% and 7.7%.
While most of the industry would remain well capitalized, in the harsher U- and W-shaped scenarios, several banks “would approach minimum capital levels,” the Fed said. The Fed didn’t disclose which banks would skate close to their minimums.
Since the real economic fallout from the pandemic already exceeds the typical severe economic downturn from previous exams, it is these three scenarios that will garner the most interest from bank investors.
While the Fed was careful to say that the scenarios were not predictions of what will actually happen, they do hew closely to what bank executives have said could be the course of the economy: Unemployment would peak at up to 19.5%.
That could cause up to $700 billion in loan losses for the 34 banks in the exam, and the industry’s aggregate capital ratios could fall from the 12% at the end of 2019 to between 9.5% and 7.7%.
While most of the industry would remain well capitalized, in the harsher U- and W-shaped scenarios, several banks “would approach minimum capital levels,” the Fed said. The Fed didn’t disclose which banks would skate close to their minimums.
Sand
Footballguy
I bought clippers and the wife is doing mine this weekend.I haven’t gotten a real haircut since January.
The expected result makes this a wholly appropriate post for page 666.
FreeBaGeL
Footballguy
Gotta be. The lines match up almost exactly and the start was October 2019 when he told us about it. SMH, has enough in my accounts to have tailed him back then.
FreeBaGeL
Footballguy
Honestly too bad reddit removed the post. Would have had a bunch of WSB'ers FOMO'ing into it tomorrow morning if the post stayed up. I think they removed it because they don't allow discussion of OTC stocks so another potential runup being missed by not being listed. Not that I'm unhappy with what is currently a 6 bagger, lol.
Al Czervik
Not wearing pants
JerseyToughGuys
Tough Guy
eaganwildcats
Footballguy
caustic
Footballguy
Added more this morning at 3.91. Up 12% at the close due to a nice little afternoon rally.
JoeSteeler
Footballguy
page 666? 
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JoeSteeler
Footballguy
BroncoFreak_2K3
sucker for Orange
Bought 10000 shares of CYDY at a buck
yea
#notselling
yea
#notselling
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⚡DEADHEAD⚡
Footballguy
CR69
Footballguy
Sputnikv8
Footballguy
This gets confusing. Is this a divorce situation? Is that why ex-ghost got more?
CR69
Footballguy
ghostguy123
Footballguy
So what the significance of this banking stress test?
Not much new. Making them resubmit capital plans later this year. Dividend limits that lack teeth and no share repurchases (which banks already were not going to do).
Steeler
Footballguy
https://www.federalreserve.gov/newsevents/pressreleases/bcreg20200625c.htm
I don't know #### about ####, but that seems like a good report to me.
I don't know #### about ####, but that seems like a good report to me.
GoBirds
Footballguy
JerseyToughGuys
Tough Guy
Fed Repo / Discount Window has worked well it seems
Chaz McNulty
Footballguy
CYDY officially became a 2 banger for me today (if that's a thing).
Mookie
Footballguy
I cashed out an underperforming account at ETrade about a year ago and the cash (about $950) just sat there as I had dulled on trading.
My cousin's wife Laura, who I was really close to, then died of METS breast cancer last September - it was a 5 year ordeal, and she was deeply angry that, in spite of all the pink outs, very little funding was going to METS research. She was 55, and left my cousin, who is like a brother to me, and their two teenage kids. We live 12 hours away and were in transit when she died. I had to help carry her body out to the hearse. It was a brutal weekend.
In December, I happened across this thread and, seeing a synergy between Laura's death and a possible METS cure/therapy, I bought 900 shares of CYDY ($1.00) as nothing more than throwing money at a worthwhile pursuit. I then bought another 925 shares in late April ($3.57). I can say without reservation that it's the best investment I've ever made on a financial and deeply personal level, and the news of this drug's potential has been really uplifting during a really crummy period with COVID, layoffs, BLM, no sports, etc..
I wrestle with being greedy and tax implications, and will soon sell some of my holding to recoup my original investment. At that point, I plan to ride this for a bit (maybe until more METS news) but will likely sell out earlier than I should to realize my gains. I want to buy a special gift for my cousin (a sea kayak or fishing boat) and sign the card "Love, Laura" with a description of what CYDY is all about. He'll probably then ream me out for not cluing him in on the stock tip!
Thanks @Chet - your steadfast recommendation is really going to bring some joy to many in this community.
My cousin's wife Laura, who I was really close to, then died of METS breast cancer last September - it was a 5 year ordeal, and she was deeply angry that, in spite of all the pink outs, very little funding was going to METS research. She was 55, and left my cousin, who is like a brother to me, and their two teenage kids. We live 12 hours away and were in transit when she died. I had to help carry her body out to the hearse. It was a brutal weekend.
In December, I happened across this thread and, seeing a synergy between Laura's death and a possible METS cure/therapy, I bought 900 shares of CYDY ($1.00) as nothing more than throwing money at a worthwhile pursuit. I then bought another 925 shares in late April ($3.57). I can say without reservation that it's the best investment I've ever made on a financial and deeply personal level, and the news of this drug's potential has been really uplifting during a really crummy period with COVID, layoffs, BLM, no sports, etc..
I wrestle with being greedy and tax implications, and will soon sell some of my holding to recoup my original investment. At that point, I plan to ride this for a bit (maybe until more METS news) but will likely sell out earlier than I should to realize my gains. I want to buy a special gift for my cousin (a sea kayak or fishing boat) and sign the card "Love, Laura" with a description of what CYDY is all about. He'll probably then ream me out for not cluing him in on the stock tip!
Thanks @Chet - your steadfast recommendation is really going to bring some joy to many in this community.
ex-ghost
Footballguy
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djmich
Footballguy
Charlie Harper
Footballguy
Selling my LUV stock for a 13% gain and once that settles get it into CYDY if it hasn't exploded by Tuesday. LUV isn't gonna double for awhile.
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