CNBC's Jim Cramer reflected on his flawed prediction for Silicon Valley Bank.
CNBC's Jim Cramer reflected on his flawed prediction for Silicon Valley Bank in which he recommended the stock shortly before the bank failed.
SVB's sudden collapse took many by surprise when the bank's failure followed an inability to raise capital after clients withdrew money en masse.acknowledged that he makes mistakes, including his recommendation to buy Silicon Valley Bank stock at the beginning of 2023 shortly before it collapsed.took many by surprise. The bank failed after capital and startup clients withdrew money en masse and it was forced to sell bonds at a huge loss.
Cramer noted that SVB wasn't fully transparent about the risks it was taking. Regulators weren't monitoring it as closely as they should have and were too lenient with the bank, he added. It came to light later, Cramer said, that SVB had been reckless with its investment portfolio, making them extremely vulnerable to losses if faced with a mass withdrawal of deposits."So many of us got Silicon Valley Bank wrong because we relied on the regulators, who were also wrong.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
NASA Hosts Unveiling of Plans for New Silicon Valley Innovation HubThe University of California Berkeley and San Francisco-based developer SKS Partners proposed the new campus and innovation hub for research and advancements
Weiterlesen »
Vast $2 billion innovation hub is eyed at NASA Ames Silicon Valley complexA vast $2 billion innovation hub is being eyed at the NASA Ames Research Center in Mountain View.
Weiterlesen »
Vast $2 billion innovation hub eyed at NASA Ames Silicon Valley complexA vast $2 billion innovation hub is being eyed at the NASA Ames Research Center in Mountain View.
Weiterlesen »
NASA, UC Berkeley unveil plans for $2B space research hub in Silicon ValleyAfter a decades-long partnership, NASA's Ames Research Center and U.C. Berkeley announced on Monday their intention to deepen their collaboration.
Weiterlesen »
Vast $2 billion innovation hub is eyed at NASA Ames Silicon Valley complexA vast $2 billion innovation hub is being eyed at the NASA Ames Research Center in Mountain View, a complex that's poised to become a birthplace for cutting-edge technologies.
Weiterlesen »
Silicon Valley Reads going green with theme, books for 2024The community engagement program will dive into the topic of environmental sustainability, with a number of books and more than 100 events.
Weiterlesen »