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Warren Buffett's avatar

what do you think of buffett and munger’s comments? they are kind of the banking experts and expressed a lot of concern that this isn’t close to being over.

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Dives in Aeternum's avatar

In regards to PACW, "Deposit balances further grew ~$700M as of April 24. Total insured deposits, including accounts eligible for pass-through insurance, represented ~73% of total deposits as of April 24, up from 48% at December 31, 2022. Immediately-available liquidity stood at $12.4B,

which exceeded uninsured deposits of $8.1B, with a coverage ratio of 153% at March 31."

I'm also not a bank expert, but that seems solid to me. (I'm long 1500 shares PACWP) Also I was hoping to pick up some bonds in PNC, but decided not to since most of them are trading above par. So clearly the bond market is comfortable with PNC's prospects.

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