A Quick Note On Panics ...Friday Shoutouts (Delaying Death) And Cool Products I Am Buying and Using
Good morning everyone…a bit longer post today.
Yesterday was a seriously bad day for banks and financial institutions.
Specifically, there is a run on Silicon Valley Bank (the 15th largest US bank) which has been a key bank to tens of thousands of technology companies. My gut is the fear spreads further amongst the banks because of politics.
What did the ‘fear’ look like?
Here is the Regional Bank ETF ($KRE) volume:
For months here I have been telling people that I had moved my money to mostly treasuries and products like Vanguard money market funds and MaxMyInterest. Not because I thought there would be bank runs, but because interest on cash deposits were low. Now we know that cash deposits might not be safe beyond the $250,000 insured amounts…at least at Silicon Valley Bank and with that yesterday came panic.
Everyone on Twitter went from Ukraine war expert to Bank run expert yesterday but I honestly have no idea how this plays out in the very short term.
I know that when it comes to panic, if you must panic, panic first.
You know who was NOT panicked about Silicon Valley Bank…??? Other Banks.
Take a look at the buy/sell ratings going into yesterday:
Enough about banks…onward to a shoutout…
Sam Altman, the man who brought us OpenAI and ChatGPT has invested $180 million in a company to help people ‘delay death’. I am all about the idea of delaying death. I have created a death score for myself which is just my age today and the years I am away from the age of 70 - so I am ‘D-13’ . I am rooting for ways to make that number higher not just for living an ordinary life but one filled with some fun, comfort and adventure.
As for a few products this week I am recommending…
I am a customer of HoneHealth which is in a new genre of unlocking the science of living longer and better. The service was smooth and I got my results and great explainers from the doctors.
I recommended MaxMyInterest last week before this bank run and I must recommend it again. Please do not be lazy with your cash deposits. Max is simple and brilliant:
Earn up to 5.01% • Increase FDIC coverage • Keep your existing bank
I also bought my first pair of ‘gravel bike shoes’. Amazing utility and comfort and even style.
Have a great Friday.