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  1. 06-26-2021, 08:03 PM #1
    NitroZ7
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    Anyone buying banks

    I bought some Citigroup last week on the dip as I thought the stress test would go well and they would start announcing buybacks and dividend increases on Monday. Anyone else buy any banks? I only own 2 banks in my portfolio as they really are not my favorite investments.
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  2. apenland01
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    #2 06-26-2021, 10:09 PM
    What's a bank? Do they have a function any more for major transactions? Given that most money is loaned through private equity and notes, banks are becoming irrelevant in my eyes. People put less money in banks for savings, so there's less reserve to loan. Private equity and others are the future of lending as I see it...
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  3. NitroZ7
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    #3 06-27-2021, 09:59 AM
    Quote Originally Posted by apenland01 View Post
    What's a bank? Do they have a function any more for major transactions? Given that most money is loaned through private equity and notes, banks are becoming irrelevant in my eyes. People put less money in banks for savings, so there's less reserve to loan. Private equity and others are the future of lending as I see it...
    Private equity and BDCs will most likely be the source of the next financial collapse. We just had a deal where a BDC made a mezzanine loan on a condo termination in Miami so they are essentially just secured with the membership interest of a single purpose LLC that only owns the condo with the first mortgage on it. I have been selling my position in KKR and will only be holding Blackstone going forward and I do not invest in any BDCs. BDCs can be frightening in an economic slowdown when defaults start happening.
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  4. apenland01
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    #4 06-28-2021, 09:44 AM
    I'm just not participating in much of anything at the moment. I realize I'm likely losing some purchasing power through inflation, but my money won't disappear in the short term.
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  5. NitroZ7
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    #5 06-28-2021, 09:55 AM
    Quote Originally Posted by apenland01 View Post
    I'm just not participating in much of anything at the moment. I realize I'm likely losing some purchasing power through inflation, but my money won't disappear in the short term.
    I'm not buying much either unless I can find something that has some value. I sold some calls to rebalance but there is not much out there that looks real appealing.
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  6. northstar
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    #6 07-02-2021, 01:04 PM
    I'm not buying banks but have started adding more BTG to my portfolio. Small Mining company out of Canada with a dividend, and near its 52 week low. Check it out, but I'm in no way giving any advice.
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