Sell or Die
I’m now in Vietnam for a short trip and I am being reminded of the time that my day job boss made a remark about how I only got a “serious” job at 38. He exclaimed “I don’t know how you survived before that.” I bring this topic up because, while Vietnam has made great strides economically, it’s still an obviously...
What really happened at Silicon Valley Bank (SVB)
A business may be profitable but it can still be wiped out by liquidity problems - that is, not having sufficient cash to meet immediate requirements. This is especially important for banks. If all customers were to turn up suddenly at commercial banks and demand to withdraw their deposits, all such banks in the world, including...
Prevent a run on the bank
Silicon Valley Bank faced a "run on the bank". Due to premature withdrawals of deposits, they faced a liquidity crisis and had to sell their bonds, ahead of maturity dates, at a loss. They planned to raise additional capital to cover their loss of $1.8 billion USD. Given some time, and with the right price, they would be able...
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