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This banks woes are only starting as it deals with the post covid economic repercussions. Collapsed business loans, home mortgages in tatters, default all round etc. The price reflects a sh/t show. Last year these variables were not factored in. The bank is lunch drink imo like all financial institution’s not knowing how severe the road is ahead . That’s my read on where we are at .
The bank maybe as such healthy now but wait till the defaults hit with failed businesses and domestic mortgages. This is not makie up stuff but reality, banks are going to be exposed to a tsunami of defaults - how this will be addressed on a global basis is anyone’s guess at this juncture
Icarus - fortune favours the brave - the upswings could be massive when things settle so could the down swings. As I said previously I’m prepared to let the those with platinum ball bearings dive and am prepared to see a 30/40% upswing before I saddle up again. My only concern now is liquidity in the financial system or lack off. Medical pandemics quickly turn into financial pandemics.
Be safe all that’s the most important thing and if we all are still standing after this well we’ll fight another day.
Those in denial that this bank could end up somewhat in govt hands with their (massive) capital they are sitting on are sadly deluded. This bank line all banks are in dire straits due the world economies in dire straits. Every business is affected - there will be mass business closures post this event together with biblical loan default from all quadrants of communities be it business or private individuals. I see it myself on a tiny micro level where a colleague manages a high end apartment block..... 85% of tenants now not paying due inability to pay ..... people are protective what’s left of their cash resources and are defaulting imo. Who knows where this will go and when it will end but I do know the BKIR share price for me is assigned to the scrap book. It’s truly awful out there.