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SVB FINANCIAL & The Overrated Death of the US Banking Sector (Pre-Loved)

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SVB FINANCIAL & The Overrated Death of the US Banking Sector (Pre-Loved)

There have been a veritable ton of incredibly solid writeups about SVB Financial + Implications for the US Banking Sector over the past week. I loved them so much I just wanted to share 30+ of them.

Aaron Pek
Mar 18, 2023
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SVB FINANCIAL & The Overrated Death of the US Banking Sector (Pre-Loved)

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17 Amazing SVB-Related Articles That I Actually Read & Enjoyed: (Substack)

Value Investing Substack
TL;DR on SVB Financial in <1,800 words (BULLET POINTS!)
There have been a number of excellent articles covering the recent SVB Financial debacle (linked below). However, I was surprised by the number of people who reached out to request a TL;DR version of the events — prompting me to quickly bang this article out for those who want a quick recap…
Read more
3 months ago · 7 likes · 2 comments · Aaron Pek
Chartbook
Chartbook #202 What went wrong at Credit Suisse? The Swiss roots of the debacle.
The crisis at Credit Suisse this week was triggered by the global anxiety about banking stocks unleashed by the mini-wave of US bank failures. The panic is reflected in the surging price of credit default swaps on Credit Suisse debt…
Read more
3 months ago · 59 likes · Adam Tooze
Pinecone Weekly Brief
March Madness
Best Viewed in Your Browser Quick housekeeping note - no Walk in the Pines this week - only this quick update I am sending to everyone. Back to normal next week…
Read more
3 months ago · 2 likes · Chase Taylor
The Macro Compass
Contagion Risks
Listen now (7 min) | If a couple of regional banks were so bad at managing their interest rate risk and deposit outflow risk to blow up in a few hours, how can we really be sure other banks won’t face similar problems? Having run a large investment portfolio at a European bank and been part of the management for the Treasury department, I will try to use my practical experie…
Listen now
3 months ago · Alfonso Peccatiello (Alf)
Overlooked Alpha
An Update On Charles Schwab
Our article on Charles Schwab on Sunday morning was 3,400 words long. It could have been 13,400 words. Many angles we couldn't cover simply due to time and space constraints. Another we missed while trying to navigate a complex story in a relatively short amount of time…
Read more
3 months ago · 11 likes · 4 comments · Vince Martin
Nongaap Investing
SVB: Available-FUD-Sale
Read more
3 months ago · 18 likes · Mike
Dirty Laundry
Behind the scenes: An account of the SVB collapse from startup land
The following are the thoughts and opinions of Kris Bennatti and do not reflect those of Bedrock AI or the rest of the team. I work out of a WeWork (my favourite de-SPAC with a 70+ Bedrock risk score) in downtown Toronto with a bunch of other founders with millions in uninsured deposits…
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3 months ago · 6 likes · Bedrock AI
The Rational Walk
Berkshire Hathaway's Fixed Maturity Portfolio
“Banking is very good business if you don't do anything dumb." — Warren Buffett…
Read more
3 months ago · 57 likes · 12 comments · The Rational Walk
Yes, I give a FIG... thoughts on markets from Michael Green/Profplum99
The Valley of Despair
Well, I did say I’d keep writing on passive IF I didn’t get distracted… and unfortunately, in our ADHD world, we had a busy week. I got back from Europe late last night (really this morning) and this week’s note is briefer than I had hoped due to time constraints. I know… excuses excuses… everyone has them. I absolutely promise I’ll keep writing on pa…
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3 months ago · 207 likes · 91 comments · Michael W. Green
Grit Capital
Contagion vs. Containment
Hi Everyone! 👋 Welcome to the 2,319 new subscribers who have climbed aboard the GRIT rocket ship this week. If you're reading this but haven't subscribed, join our community of over 248k smart, fun & edgy, investors 👇…
Read more
3 months ago · 40 likes · Genevieve Roch-Decter, CFA
Nongaap Investing
SIVB: Held-to-Mortem Governance
Read more
3 months ago · 88 likes · 1 comment · Mike
The Rational Walk
Fragile Capitalists
“They are all libertarians until they are hit by higher interest rates.” — Nassim Nicholas Taleb…
Read more
3 months ago · 192 likes · 49 comments · The Rational Walk
The Macro Compass
Banking Crisis?
Listen now (12 min) | Silicon Valley Bank went belly up in about 30 hours. And no, it’s not the Fed’s fault. It’s the result of a very concentrated funding base, embarrassingly bad market risk management and a ton of moral hazard at play. This piece will attempt at answering the questions all of us have been asking…
Listen now
3 months ago · Alfonso Peccatiello (Alf)
Apricitas Economics
The Death of Silicon Valley Bank
Three months ago, Silicon Valley Bank was the 16th-largest commercial bank in the US. Today it no longer exists. On March 8th, Silvergate—a smaller bank specializing in the crypto business—announced it would be voluntarily liquidating in the wake of large losses, rapid customer withdrawals…
Read more
3 months ago · 95 likes · 17 comments · Joseph Politano
The Rational Walk
The Fall of Silicon Valley Bank
“As of December 31, 2022, on a consolidated basis, we had total assets of $211.8 billion, total investment securities of $120.1 billion, total loans, amortized cost, of $74.3 billion, total deposits of $173.1 billion and total SVB Financial stockholders' equity of $16 billion…
Read more
3 months ago · 101 likes · 25 comments · The Rational Walk
Net Interest
The Demise of Silicon Valley Bank
“When you’re not working, what do you do to de-stress?” That was the last question Greg Becker, CEO of Silicon Valley Bank, fielded at an investor conference on Tuesday this week. “Cycling is my advice,” he replied. “Living in Northern California and being on the peninsula. That’s just—I think it’s the best bike-riding cycling in the world, period…
Read more
3 months ago · 1,279 likes · 124 comments · Marc Rubinstein
Noahpinion
Why was there a run on Silicon Valley Bank?
The big news in both the tech and financial worlds right now is the run on Silicon Valley Bank. SVB, as it’s known, was a bank that lent a lot of money to startups (or “startups”, i.e. bigger tech companies that are still private), and provided a lot of financial services to both startups and other tech companies. Here’s…
Read more
3 months ago · 467 likes · 147 comments · Noah Smith

16 Great SVB-Related Articles: (Non-Substack)

  1. Monetary Tightening and U.S. Bank Fragility in 2023: Mark-to-Market Losses and Uninsured Depositor Runs?

  2. The wrong way to think about moral hazard | Econlib

  3. Banking in very uncertain times | Bits About Money

  4. A Reverse Minsky Moment | The Irrelevant Investor

  5. Silvergate has collapsed | The Verge

  6. European regulators criticise US ‘incompetence’ over Silicon Valley Bank collapse | FT

  7. Credit Suisse to borrow up to $53.7 billion from Swiss central bank | WP

  8. SVB Financial Files for Chapter 11 Bankruptcy Protection | WSJ

  9. Fall of Silicon Valley Bank: The broader implications and why they matter to S’pore | The Straits Times

  10. BofA Gets More Than $15 Billion in Deposits After SVB Fails | Bloomberg

  11. KPMG stands by audits of Silicon Valley Bank and Signature Bank | FT

  12. Startup Bank Had a Startup Bank Run | Bloomberg

  13. First Republic drops 60%, leads decline in bank stocks despite government’s backstop of SVB | CNBC

  14. Yellen rules out bailout for Silicon Valley Bank: "We're not going to do that again" | CBS

  15. Ackman Says US Should Mull SVB Bailout as Possible Option | Bloomberg

  16. Silicon Valley Bank fails to find buyer as run on bank outpaced sale process | CNBC

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SVB FINANCIAL & The Overrated Death of the US Banking Sector (Pre-Loved)

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