Posted on 03/12/2023 5:05:00 PM PDT by dynachrome
It’s not just silicon valley folks, a very large pension plan in Sweden was invested heavily in the Silicon Valley Bank.
The fallout from Silicon Valley Bank has spread to Sweden’s largest pension group after the fund more than doubled its holdings in the Californian bank during the past year.
Stockholm-based Alecta, which oversees more than $104 billion in assets, was SVB’s fourth-biggest shareholder at the end of last year with a holding worth $605 million, according to data compiled by Bloomberg. Following a 60% plunge in SVB’s stock on Thursday, the value of the stake was worth only $279 million.
“The holding represents less than 1% of our assets and will not impact our solvency metrics,” said Alecta’s head of communications Jacob Lapidus, who confirmed the pension fund has added to its SVB holding since it became a shareholder in 2019.
(Excerpt) Read more at thegatewaypundit.com ...
SVB was the 16th biggest bank but seems to have its' fingers in many pies.
The bank’s officers may have some disgruntled depositor visit them with an SVD.
I’m old school. I want an SVT-40.
;)
In stock???? Common stock?? That goes to zero, Gretchen.
Not much different than stock prices from many other woke libtard companies who screwed things up.
Too bad live and learn to stay clear of libtards
BTTT!!
On Monday the share price of SVB will be zero.
This is how depressions get started.
From what I’ve heard, the depositors that are “fully insured” is a relatively small amount - about $4 billion. Most of the $50 billion or so “lost” is from large business accounts. Accordingly, my opinion is have the FDIC pay off the $4 billion immediately and subject the large accounts to a bail in. i.e. recapitalize the bank with their accounts and give them equity in the bank as stock.
American grandkids will fund Greta’s retirement. No worries.
Weirdest gun I ever saw was a sporterized SVT-40 (monte Carlo stock and all) rechambered to .303 British. I passed on it. ;)
Sometimes you get the insider deal
Sometimes the insider deal gets you
I’d run away from it, too. I see some Finn marked ones once in a great while.
We had a great eclectic gun store in Albuquerque for decades. Covid made it go online only, plus it was in a sketchy part of town. But if it went bang it would show up at this shop sooner or later. Saw a MBA Gyrojet in the original box once. Bought some great stuff there over the years.
More here...
Wowza.
From January...
And didn’t that work out really well!
Surely there’s a safe and effective shot fir that SVD.
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