Member Info for nomlungu

mick,

A consortium of big banks deposited $30 billion into the bank a month ago [large deposits so not covered by FDIC]. If the bank goes insolvent, they lose their money AND have to make more payments into the FDIC fund (it is funded by the big banks) if the fund gets tapped to cover the insurance on smaller deposits [which it will if the bank files for bankruptcy and sells assets in a fire sale].

So the cheapest option might be to buy assets from the bank at over the market price and buy shares in a recapitalisation of First Republic. And this might stave off these large banks from having to use Mark to Market pricing on their own underperforming assets and bonds, so they can pretend for a bit longer that their own balance sheets are not severely damaged.

And all at the same time as the QOP are playing chicken with the Debt Limit. A bad day for banks... could have an oversized impact here.

Bloke says he goes to supermarket and the cheapest ketchup he could buy was £4.50. But it is only 85p for Waitrose Essential 450g bottle of ketchup

https://www.waitrose.com/ecom/products/essential-tomato-ketchup/097580-49819-49820

And some still believe the CONservatives are doing a good job.

Market Summary
>
First Republic Bank
3.51 USD
-2.68 (43.30%)today

Who blinks first? Surely this needs to be sorted out over the weekend?

https://www.cnbc.com/2023/04/28/first-republics-stock-poised-to-rise-for-second-day-as-regional-bank-searches-for-rescue-deal.html

JV discusses the new investment:

https://www.youtube.com/embed/GWzONOGS_po

From a Bloomberg email:

'PS Some Good News on Tax

I was getting irritated by the UK’s tax system yesterday, so I did just want to highlight a snippet of good news. The government announced yesterday that it’s working on a scheme to enable non-working parents who missed out on National Insurance contributions, because they didn’t claim child benefit, to fill any gaps and thus get back as many as 12 years’ worth of NI.'

Filling in NI gaps is wise so if this comes about and you know someone who will benefit then it is worth suggesting...

But sometimes these things are worth repeating; this was in my news feeds today: "2021 Dietary Guidance to Improve Cardiovascular Health: A Scientific Statement From the American Heart Association"

https://www.ahajournals.org/doi/10.1161/CIR.0000000000001031

BIG IDEA
“The idea is to die young as late as possible.”
– ASHLEY MONTAGU, British-American anthropologist

And he has the cheek to write in his resignation statement:

"I have decided that it is right to prioritise the interests of the BBC."

Yeah, right...

Proactive news item

https://www.proactiveinvestors.co.uk/companies/news/1013575/mineral-financial-investments-takes-strategic-stake-in-mexican-gold-miner-luca-1013575.html

"going to the bahamas"

There is Mr Williams deramping again - The Dear Leader (praise be his name) said shareholders would be retiring to The Bahamas at $50 a barrel?

https://www.youtube.com/watch?v=V1_stpqkU7w

'they are not the most intelligent people.'

Says Mullins who has been ramping this since the pennies.

A few days ago I mentioned increased US domestic demand for silver and mick pointed out that most of the silver that they need is near-shored / friend-shored from Mexico. MAFL have announced an investment in 6.5% of the shares in a Canadian listed Mexican miner mining silver rich VMS polymetallic deposits.

Seems a good strategic buy by them.

RNS - MAFL spend £1.178M buying 6.53% of Luca at C$0.35; currently trading at C$0.415 (there has been a recent name change)

https://www.altaleymining.com/

The Inflation Reduction Act in the US is going to increase US domestic demand for silver and the same act is placing emphasis on onshore / near shore production of strategic minerals [which silver is because of its use in the green economy for solar panels and electric cars].

This looks a good investment; link to latest corp presentation:

https://assets.website-files.com/60d2aa7b44de003a8d12c54b/642dc546059e766e03d6fa75_Luca%20Mining%20-%20Investor%20Presentation%20-%20April%202023.pdf

Argentina - terrible drought

https://www.lemonde.fr/en/environment/article/2023/04/09/argentina-historic-drought-is-destroying-agriculture-and-threatening-the-economy_6022277_114.html

[PHC are starting to sell a seed treatment that helps in drought conditions into the Argentinian market]

Russia had special vessel near Nord Stream's detonation point

https://www.information.dk/indland/2023/04/forsvaret-bekraefter-rusland-specialfartoej-naer-nord-streams-spraengningspunkt?lst_frnt

"The Russian special vessel SS-750 was near the Nord Stream pipes four days before the pipes were blown up on September 26 last year. The special vessel is designed to carry out operations under the sea and has a mini submarine of the AS-26 Priz type on board.

The Norwegian Defense Command confirms in a response to a document inspection that 26 photos of the Russian vessel were taken from a Danish patrol boat that was in the area east of Bornholm on 22 September 2022.

"It's incredibly interesting. The SS-750 is a special vessel that is designed precisely for underwater operations,' says the Swedish researcher, Russia expert and intelligence expert Joakim von Braun."

Trump about to spew forth

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

[Sponsored by a Quack Dr who can sell you a potion to stop you shedding spike proteins and get that pre-vax feeling back]

This is quiet clever:

https://www.withdelphi.com/talk/warren-buffett

Talk to an AI version of Warren Buffett:

ME - 'would you recommend investing in a company called plant health care; what is your reasoning?'
AI - 'I cannot specifically recommend investing in a company called Plant Health Care, as I don't have enough information about it. When considering an investment, I usually look for companies that deliver better quality products or services than their competitors, provide net savings to their industry, and have a high return on capital, predictable growth, and shareholder-friendly management [3]. It's essential to study the company and its industry thoroughly before making any investment decisions.'

ME - 'ok - does the biostimulant industry interest you?'
AI - 'While I don't have specific information about the biostimulant industry in my memory, I can tell you that I'm always interested in industries with potential for growth and profitability. The key is to find companies within those industries that meet certain criteria, such as delivering better quality products or services than their competitors, providing net savings to their industry, and having a high return on capital, predictable growth, and shareholder-friendly management [3]. If the biostimulant industry has companies that meet these criteria, it could be an interesting area to explore.'

https://www.thedailybeast.com/pro-war-russian-citizens-duped-into-torching-military-offices-of-kremlin?ref=home

At least 16 cases have been reported so far—and the firestarters always insist they’re following orders from a mysterious caller who says it’s their patriotic duty.

I thought it was supposed to be 50 billion barrels of oil 'in place in the ground'?

On the extremes, but...: "350 California Street was worth $300 million four years ago. It might sell for 80% less now, brokers say, in a market where office vacancy rates have soared."

https://www.wsj.com/articles/san-francisco-commercial-real-estate-office-buildings-471742ea

What does a brutal re-rating like this do to the wider market, especially if others who are forced to book losses are forced to sell other properties that nobody wants?