Member Info for fleccy

"And the fact you see it as all being the fault of crypto … is frankly laughable"

I was just suggesting, that the spark leading to this Forest Fire can be traced all the way back to FTX, and if US regulators choose to highlight the path of the Fire they could use it to punish Crypto and most likely will.
Unrelated, but do you remember the Hound of Hounslow? The US authorities went after Navinder Singh, blaming him for causing a Flash Crash; He was probably the spark and got the blame, even though Wall St High Frequency Traders threw fuel on the Fire. It'll be interesting to see how this develops over the next six months.

CS has been on a Ski Slope decline for years. I'm amazed it didn't fail a year ago, as its reputation has been trashed for a long time. Personally I wouldn't have touched CS years ago, but what finally killed it was what happened in the States, tracing all the way back to the FTX/Silvergate collapse. This will eventually lead back to Crypto, even if the inherent weakness of the US Regional Banks balance sheets, due to the way they invested in long dated Treasuries, played a big part.

PAS, watch this video that DSFLAT posted a link to on the Bitcoin chat:

https://www.youtube.com/watch?v=X538TJSsaHM

Like I said the trail leads all the way back to FTX/Silvergate/Signature and even SVB by their financing of Crypto Projects. I think Crypto will pay a price for this.

"Never said crypto would ‘rise like a phoenix"

I was using a metaphor to express the Crypto narrative being expressed by the community.
My point is, all this started with the FTX collapse, which weakened Silvergate and eventually lead to that bank collapsing; And then a twitter campaign by depositors in SVB brought that bank down, then Signature bank was shut down by association, and we are where we are now. At the moment the regulators are fire fighting, but once that stops who do you think they'll blame for this, and which sector will they look at punishing? My bet is they'll go after Crypto after publicly connecting the dots all the way back to FTX, and say Crypto has now become a threat to the wider Financial system, then followed by an unleashing of regulatory wrath on the Crypto industry.

"I think you’re the naive one Fleccy"

We'll see. If you think this means Crypto will rise like a Phoenix from the ashes of a Fiat fire, just wait until they shoot it down in flames. There'll be repercussions for all this and the US regulators are ruthless, it doesn't take much imagination to see them going after Crypto medieval style, once the dust settles.

"A word of caution though , expect a lot of FUD towards Bitcoin from central bankers as they desperately try to stop folk fleeing the fiat Ponzi ."

Once this banking hysteria ends, just watch the regulatory Rottweiler's go after Crypto. The three banks, who's depositors were bailed out in the US, were heavily involved in Crypto; Silvergate in providing on/off ramps, SVB in financing for Crypto Projects and Signature also holding Crypto related accounts. The fact that the Crypto community have used the crisis to hype up the price of Tokens also wont go unnoticed.
If I was involved in Crypto I'd be pretty worried right now, since this banking storm will likely be replaced by a Crypto Hurricane once the Banking situation is sorted out. Anyone who thinks differently is naïve, since they'll look at apportioning blame and use this as an excuse to really clamp down on Crypto.

$3 Billion (US), 3.23 Billion Swiss Francs.

https://www.marketscreener.com/quote/stock/CREDIT-SUISSE-GROUP-AG-9364979/news/UBS-to-acquire-Credit-Suisse-for-3-23-bln-43287066/

Apparently it's $3.23 Billion

50 cents makes more sense, I think there are around 4 Billion shares and if the deal goes through at exactly $2 Billion, it comes to approximately 0.462 Swiss Francs per share.

"I think it's hard to justify a wipe out of shareholders just because the shorters are baying for blood if the underlying fundamentals are actually ok."

Under those circumstances they'll just ban shorting of banks, it's easy to do.

Yeah, I was referring to the Crystal Palace branch at Thornton Heath.

"What was his job role at Lloyds?"

Wasn't he in charge of the Crystal Palace Branch?

"The market will kill this deal, within hours and I think the Swiss authorities will be forced to let CS collpas rather than destroy both of their banks."

I have no idea what will happen in the next 15 hours, but I'm not sure you're correct in your view. The Swiss Government will only be doing what the UK Government did with SVB UK, granted SVB UK is much smaller but the same principle applies. The US Government moved in on SVB (Parent) and Signature and cut the rug from underneath shareholders there, and I don't see any repercussions from that.
If this deal goes through, shareholders will have little recourse and much as I feel sorry for anyone caught up in this, CS has been one to avoid for a very long time. There are lessons for shareholders to learn from this, but investing in stocks and shares has always carried risk under the the principle of Caveat Emptor.

"Investment bank UBS Group AG made an offer to buy Credit Suisse for up to $1 billion and the deal is expected to be an all-share acquisition priced at a fraction of Credit Suisse's closing price on March 17, the Financial Times reported on Sunday, citing sources."

That's around 86% down on Fridays closing price. Any speculative investors who recently jumped in, will likely have something to say, especially if they're denied a vote. I imagine there'll be some litigation on the back of such a deal.

What's the Telegraph article about? I can't find it online.

I wonder if this would raise competition concerns, since it eliminates a competitor in overlap areas? This would also underline Jansen's Oracle credentials, since you could interpret his recently reported comments as predicting this sort of consolidation. Will CityFibre be purchased by NEXFIBRE or VMO2?
No doubt CityFibre's backers will want their investment back, so it'll likely come down to price. Apparently CityFibre have raised around £7.5 Billion in financing, over the years, and much may depend on how much of the funding has already been spent; Will £3 Billion be enough?

"Are Nominee Accounts classed as Institutional Investors when they compile the data? I would have thought there would be a distinction between Institutional Investors....Pension Funds, Mutual Funds etc and Nominee Accounts which would be classed as private/retail investors."

I don't know, but the shares would be held in the name of the Brokerage firm and aggregated. I'm not sure how you'd identify them as retail, so my guess would be that they'd show up as institutional.

"Yahoo says 81.6% of Lloyds shares held by Institutional Investors."

This is more up to date, but as I previously stated ,how much of the Institutional shareholding figure made up of retail investors in Nominee accounts? And Funds?

https://simplywall.st/stocks/gb/banks/lse-lloy/lloyds-banking-group-shares/ownership

"80% of Lloyds shares are held by Institutional Investors."

Are you sure about that? For example, we hold over 400,000 Lloyds shares in Nominee accounts; I assume they're held in our Brokers name, so wouldn't those shares add to the institutional percentage, rather than retail?
There are loads of articles stating that Institutional investors have been shunning UK stocks, I based the statement on what I've read.

"The figures are startling: in the 1990s, more than half of all shares listed on the LSE were owned by UK pension funds and insurance companies. In 2000, it was less than 40 per cent. Twenty years later, that had fallen to about 5 per cent."

https://www.thisismoney.co.uk/money/markets/article-11847835/As-investors-shun-London-Britain.html

"They aren't. Money held in this share declines because the currency is worth less than when you bought it and the dividend does not nake up the difference"

In the next financial year we'll be on target for dividends over £23,000, with at least £10,000 of that due to Lloyds dividends. Dependent on reinvested dividends in the ISA's, over the next 12 months, it might even push us up to £24,000, so I'd say it's making up the difference from our point of view.