runeks

29 ms·

421.
by runeks 4y ago
> […] against the spirit of their content policy is not allowed. What’s the spirit of a content policy that doesn’t state what its spirit is?
422.
by runeks 4y ago
> Companies with large amounts of cash keep very little of that in bank accounts, it's in money market funds and other cash-equivalents. Could banks learn something from companies here, and drop the volatile long term bonds from the
423.
by runeks 4y ago
> Banks generally do well in higher interest rate environments. It’s not about a high vs low interest rate environment. It’s about a falling versus rising interest environment. In a rising interest rate environment, a banks bond holdings
424.
by runeks 4y ago
> The problem arises when this loan has to be repaid. At that point, the bank will have to repay $100 to recover $75 worth of collateral. Assuming an absence of default, and the Fed being able to wait being paid back until the bond matur
425.
by runeks 4y ago
> This deal only covers quality bonds and only those bought before last week. > This all means Powell can continue to raise interest rates without having to worry too much about bank failures. Do you think banks will stop buying bonds
426.
by runeks 4y ago
Isn’t that prevented by making only the depositors whole but wiping out the capital of shareholders?
427.
by runeks 4y ago
They still have duration risk.
428.
by runeks 4y ago
> Does it? Or is this just how the system is currently designed? It does in the sense that the US Government will default on its financial obligations if banks don’t use deposits to buy government bonds.
429.
by runeks 4y ago
Who are these counterparties that can absorb trillions of dollars in interest rate risk? My amateur understanding is that this counterparty would need to be short long bonds, ie. be a bond issuer. And they would need to be interested in exc
430.
by runeks 4y ago
Other banks will buy them at the right price (ie. less than what SVB paid initially).
431.
by runeks 4y ago
How is that different from just buying short term treasuries, instead of long term, in the first place?
432.
by runeks 4y ago
In simple terms, a bond is a piece of paper that pays a dollar amount per year to the holder for N number of years, after which the initial price paid for the bond is returned to the holder. For example, a 10-year bond that pays $2 per year
433.
by runeks 4y ago
> [...] SVB was actually assuming quite a bit of risk. Honest question: compared to what? Did long duration assets (like bonds) comprise a greater proportion of SVB's assets compared to, say, JP Morgan? Or is the case that JP Morgan
434.
by runeks 4y ago
SVB just went bankrupt pursuing that strategy... That being said, I don't think it's possible for all banks to hedge interest rate risk. The risk, to the system as a whole, doesn't go away just because it's transferred t
435.
by runeks 4y ago
That's actually quite concerning, if you read between the lines. What they're saying is: "JPM is just as insolvent as SIVB. The only difference is that JPM's customers are less likely to withdraw their funds."
436.
by runeks 4y ago
> Everyone who have ever managed bond portfolio knows that he must hedge interest rate risk. And every bank is doing that. How are other banks hedging interest rate risk? And how is the opposite end of this hedge hedging their position
437.
by runeks 4y ago
I highly doubt that JP Morgan will buy SVB's assets at above-market prices.
438.
by runeks 4y ago
> Tether, the Sauron of stablecoins, has zero exposure to SVB […] How do you know?
439.
by runeks 4y ago
> They should have been rebalancing. How would that have helped?
440.
by runeks 4y ago
The trick is to have multiple SSH keys -- spread out over several physical devices -- all of which are in your server's authorized_keys.
441.
by runeks 4y ago
Because they don't have the money. Apple's net income has been at least $20bn every quarter for the past two years[1]. Both Intel and AMD make a small fraction of that[2][3]. [1] https://www.macrotrends.net/stocks&
442.
by runeks 4y ago
> I also think it's perfectly fine if my site is down for a day or so because I'm away on travel and it's gone offline. 89.9999% has five nines as well. I think this is the key takeaway: host at home unless you want good u
443.
by runeks 4y ago
> The article also ignores all the positive and fun interactions that I have had with many users. "Threaten to kill a couple of people and all of the sudden I'm labeled the crazy chat bot ."
444.
by runeks 4y ago
Duplicate of https://news.ycombinator.com/item?id=34773865
445.
by runeks 4y ago
Thank you for the great video. Works by default on my iPhone 14 in Safari.
446.
by runeks 4y ago
Forget everything else. If you accept being treated this way — holding on to some hope that “some day it’ll get better” — you are going to feel like shit (even after you quit or are fired).
447.
by runeks 4y ago
Very interesting. Thank you for sharing this.
448.
by runeks 4y ago
Carbon fiber is indeed superior in many ways, but it’s also very expensive. At least that’s the impression I get from it being used only in expensive cars. So it seems to only be worth it if it doesn’t increase the total cost of a new wind
449.
by runeks 4y ago
I started out using the Haskell “Rational” type [1] (which is exactly what you mention) for https://cryptomarketdepth.com/ but I had to abandon it because it was horribly slow. I was multiplying numbers with roughly 8 decim
450.
by runeks 4y ago
Deposit insurance became necessary because the government started forcing banks to replace the highly commercial bills in their balance sheet with illiquid government bonds (cf. The National Banking Acts of 1863 and 1864). When merchants re

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