Credit Suisse is fricked—How A Reporter Reached Out to Me in October

Few things.

1. I have not had my coffee yet so my brain is having a hard time piecing together your post. What does Credit Suisse have to do with web 3.0?

2. Do you have knowledge regarding gaming crypto? While I am Bitcoin only, I do think there is a great trade to be made with gaming crypto between now and the next cycle. If you do have knowledge, please post in the crypto thread so I can ask you a few questions.

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What does Credit Suisse have to do with web 3.0?

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The fact that OP would put clickbait BS in the title tells me all I need to know about this…

It's bad form to start a thread on this board that is just a link to a thread on the poli board, which itself is a link to a different reddit thread. Confusing title also.

I do absolutely love this post in the poli talk thread though. Your posts are always good for a laugh:

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Bad mouth it all if you will, but this might be the Amazon, Apple, Google, Microsoft, McDonalds, Coca-Cola moment that you all wish you had jumped on to, but derided as flash in pan when you had the chance. Then again, maybe you are right and this won't be anything.

The GME stock is a huge bargain - IMHO - at 16.60 pre-market. Not advice, but I grab some up every week.

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Yes, a video game retailer that mainly sells used games, pops, and trinkets out of brick and mortar shops in strip malls is the next big thing!

This is slightly dumb.

Everyone knew Credit Suisse was in trouble in October.

Their CDS yields were crazy if you went on Bloomberg back in October.

Nothing compared with 2008 CDS yields but Credit Suisse has been in trouble for a long time.

My firm's had a sell position on it for a long, long time (earlier than October). Only thing we didn't expect was that AT1 bondholders would be screwed compared with equity holders. I could probably attach a screenshot for proof but I'd be violating all sorts of rules and standards of conduct.

I was in a call with a sales team from a bank this morning and she pointed out that they've known about Credit Suisse being in trouble for years.

This isn't genius - it's the obvious lol. CDS yields would have told you they were in trouble in October.

Honestly, institutional investors have access to so much information that retail investors don't that I didn't realize this wasn't common knowledge.

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Only thing we didn't expect was that AT1 bondholders would be screwed compared with equity holders.

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Very true. When that came to light, that was actually the pop goes the weasel moment. Here and other places, there were some less seasoned investors who used language like “they won’t let ‘em go out of business” to justify a (speculative) purchase of CS equity. And while they’ve learned a hard less in the difference between basic survival and a worthwhile investment, many bond holders were not expecting the SNB to do what it did to the CoCos. While those bonds did carry some significant risk, I’m not sure that anyone expected them to get totally wiped out. $17.2 billion is a fair amount of change. In this case, the equity holders have taken something of a loss, but these bond holders have taken a complete loss. That is very unusual.

WAGMI… GME. Cringe..

Thanks for including those so boldly in the synopsis so I only wasted 30 seconds of my life.

CS has been an absolute dumpster fire for a long time. This was inevitable and coming sooner or later

GME up 55% AH because they didn’t lose money for once.

Will meme stocks ever completely die?