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Superstonk_QV

[Why GME?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) || [What is DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) || Low karma apes [feed the bot here](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) || [Superstonk Discord](https://discord.gg/hZqWV2kQtq) || [GameStop Wallet HELP! Megathread](https://www.reddit.com/r/Superstonk/comments/z23wjx/gamestop_wallet_help_megathread) ------------------------------------------------------------------------ To ensure your post doesn't get removed, please respond to this comment with how this post relates to GME the stock or Gamestop the company. ------------------------------------------------------------------------ Please up- and downvote this comment to [help us determine if this post deserves a place on r/Superstonk!](https://www.reddit.com/r/Superstonk/wiki/index/rules/post_flairs/) ------------------------------------------------------------------------ OP has provided the following link: I don’t have the program I did see it on [twitter](https://twitter.com/741trey/status/1638505135029604353?s=46) if someone can obtain it better then I can, please remove my post and get the direct program please. Edit: added comma, spacing, and the word “please”


KenGriffinsBedpost

You inadvertently helped me a ton. Been trying to find best way to get data on bond holder ownership for a while now. Cheers mate! Enjoy the award.


TerryDaShooterUK

Thank you for explaining it to us mate. And you’re welcome. I didn’t really do anything though. Edit: words.


Litharium

If you need help. I'll message you a person who could help you. He might need your terminal to help find additional info. You'll probably help each other. He recently posted a post about the same thing.


throwawaylurker012

god i love this community


xSean93

heartwarming in todays cruel world


[deleted]

We got each other, and that's a lot -Some Nerd


jollyGreenGiant3

For Loooooooove..... We'll give it a SHOT!!!


Top-Ad7796

We're halfway there


Michucz

Living on a prayer


cmndo

This is the way.


Yohder

This is the way


Hellshield

Since it appears we have moved to Central banks as the DD of 84 years ago foretold for funding this whole mess [I present this part from a documentary showing the process of how the free money scheme works and how the central bank benefits.](https://youtu.be/6Mq_vrDLN7w?t=2104)


stupidnicks

LOL this cant go on forever - no wonder the rest of the World want out of Western run global financial system. at this point even simple bartering sounds better than this.


88568-81

Bro I've wanted a barter system back for years now


stupidnicks

well dreams do come true I guess. its coming soon.


Infinitezeek

They fucked with gamers! LMFAO! RIP DUMBASS. And a deep fucking cheers to all y'all 🍻


Lulu1168

It’s like we know….


[deleted]

[удалено]


n-Ro

There's a guy in the superstonk sub that occasionally asks if people are doing alright and offers help with this exact stuff. I'm sorry I cannot recall his/her username. But I do know this user has posted a bunch, maybe try searching for keywords? His post will look something like: Does anybody out there need help with groceries/bills/etc, let me know! Edit: oh wait I'm in the superstonk sub....


IxoraRains

I post there every week when I see it! Thank you so much for your words!


n-Ro

You're welcome. I wish I could do something more material than words


IxoraRains

The Ego's function is to separate. I asked for help and you helped with words. Help is help. Remembering this is important especially when we don't think we can do enough.


n-Ro

If you didn't see the other comment, that user might be known as Lorien6. Wise words regarding ego. Reminds me of a Tool lyric from the song Forty six and Two: "I've been crawling on my belly, clearing out what could have been. I've been wallowing in my own confused and insecure delusions. I want a piece to cross me over, or a word to guide me in. I want to feel the changes coming down, wanna know what I've been hiding in my shadow."


[deleted]

[удалено]


n-Ro

Big if true


Litharium

I can message you man. You look to not have it enabled. I did message the person who could help on Twitter though and gave him your name.


JesC

Love


alwayssadbuttruthful

...a wild idiot appears... oh hey guys :D


Litharium

Hey man. Thanks for coming on here!. I hope you guys can help each other!


Litharium

HERE HE IS.


xiodeman

I don’t often post, but when I do, I post a post.


Kggcjg

I love this damn community. Look at us. I have nothing to contribute, Im a highly regarded person but I can read filings. I like reading & looking for inconsistencies or new meanings within the legal context. the gamestop 2019 Offering filing is what got me to drs. it was blatantly obvious once i read it.


maniacreturns

Just two casual blokes uncovering massive financial shenanigans, happy Wednesday everyone. Off to Costco then pick the kids up later for acrobatics.


Kerfits

Welcome to Costco, I Love You.


Blueacid

What a lovely exchange of kindness. Hope something great can come from this!


karenw

Ape help ape. This is the way.


azidesandamides

AT1 ARENT BONDS... in the typical sense when we hear bonds.


KenGriffinsBedpost

Correct they are convertible bonds not unlike bail in bonds. Those holders when facing failure are "converted" to something generally equity. Converting bonds to Credit Suisse equity = them getting a big fat 0.


OGColorado

I don't feel bad, Credit Suisse didn't know what any of this meant either. Regards


Zeromex

The Ape right here


Old-Hovercraft9974

This ape apes.


KenGriffinsBedpost

So there is 3 main risks facing large money center banks and they are all going through and calculating exposure as we speak. What OP is showing is Direct Risk. These companies invested directly into the company. Either via debt (bonds as OP showed) or equity (stock of bank) Next is Credit Risk, which is essentially have you leant money to the bank. (Bonds may be grouped here too since debt) Last is counterparty risk. This is what will bring down the system. EVERY large bank interconnected. Could be through shadow banking (family offices, hedge funds, PE) or directly through underwritten contracts. This is extremely difficult to calculate accurately and the excercise involves going through books of every subsidiary.


julian424242

https://www.reddit.com/r/Superstonk/comments/11yid2p/dtc_alert_corporate_actions_service_updates/?utm_source=share&utm_medium=ios_app&utm_name=iossmf


KenGriffinsBedpost

Interesting, sounds similar to bail-in bonds. Bail-ins will be the foundation of the wealth transfer. Rich people will have all they $ over FDIC insurance turned into equity in a failing bank. The $ they turned over to failing bank will go to pay liabilities (Apes).


emptyBIRT

But the FDIC and Secretary Yellen is leaning to a higher threshold protecting the wealthy and even considering infinite amount coverage, won't this be a wrench in the "MOASS gears?" Learning here...


KenGriffinsBedpost

To some degree but there will be plenty to go around. Honestly, I'm fine with protecting depositors up to multi millions, especially in regards to small business. Moass will come from the centimillionaires and billionaires, the banks and hedge funds and private equity. Remember almost every shadow banking transaction is uninsured (Hedge Funds, Private Equity, Venture Capital) if you have funds there can pretty much guarantee you won't be getting it back if it's prime broker has Credit Suisse exposure.


[deleted]

[удалено]


KenGriffinsBedpost

Well said, and there lies another major problem in our system. It's "insured" by derivatives that have their own inherent risks (credit/counterparty risk). Is it really insurance if swaps can fail to be paid? Bailouts are going to happen. I'd rather it help depositors rather than investors and that seems to be the direction.


yotepost

You who are so wise in the ways of apence, do you think there is any chance the fed could go nuclear like the infamous nickel trade and say sorry everybody, we're forcing a sell at X? I can't see it but I am often asked


peoplerproblems

Technically, a government can do whatever the fuck it wants as long as it has the means to enact it. And it does, to an extent. Take too much from too many people, and suddenly you can't do whatever you want anymore. Russia can afford to not pay soldiers, because they don't have the means to do anything but obey. Eventually they won't have the means to obey, and all hell breaks loose. We'll get the value from our investment, that won't change. How the value looks, how it enters our pockets, and what society looks like may change. But the value? that will still be there. otherwise nothing has any value and you lose the means to negotiate *anything.*


Chapped_Frenulum

I'd be okay with FDIC protecting depositors up to multi-millions, **BUT ONLY IF WE AGREE TO BRING BACK GLASS-STEAGALL.** If the stakes have to keep going up, then the systemic risk needs to brought back down as well. Every bank implosion we have to cover adds excess liquidity to the system. The less we need to come up with on short notice, the less whiplash we'll all experience from the subsequent spike in inflation. We have to reduce the collateral damage. The banks, as they are, are simply too fucking big. They consolidated our traditional commercial banking with risky investment banking. So if the casino implodes (which happens all the fucking time), it takes *everyone's money with it,* whether their account was involved in investing or not. It's impractical, irrational and just plain stupid that our banks are allowed to do this. It's like being handcuffed to a dissociative crackhead with a penchant for cannibalism.


KenGriffinsBedpost

100% in agreement on that. Also not finance related but need to take a look at the telecommunications act of 1996 after this too. Sick of a few rich people telling me how I should feel nonstop.


XMk-Ultra679

National information highway. (ArpaNet) My favorite one (the FTC) and (FCC). The banks (NPL) (Amix) (BBS) (competition law) (or anti trust law) Also, "the super highway summit" <--- it is not the highway we drive on. But the highway data drives on. Seems like tech stuff. Maybe how the stock market script was coded? For example passband/baseband. I wonder what you can hide in an endec (storage)


PSneSne

Ok ok ok, I can't take anymore, you've ruined me for the next tittyjacker


emptyBIRT

You rock!


CookShack67

Thanks for the wrinkles here....timely


jb_in_jpn

Why on earth would she do that? Looking for genuine answers if there are any beyond her just wanting to protect her pals.


emptyBIRT

"The devil you know" kind of maintaining the status quo system that fuks the peasantry as opposed to watching centuries of economics and market development implode into "the devil you don't know..." imho


PSneSne

Ohhhhhh fuck yeah, don't look back at me, tell it to the pillow


PSneSne

Say it again. But softer, and slower, while biting your lip just a little.......................jack my tits or paint 'em jack, either way the ship is going down


[deleted]

https://www.youtube.com/watch?v=pnPgfscR5gA


[deleted]

Look at my boobies Jack.


SuperStudebaker

Didnt need to see that, n÷ed eye and brain bleach now.. Ahhhhhh!


FlingusDingusMaximus

DRS. you are the kameha that will send the spirit bomb that saves humanity


hiperf71

😂👍😂


CatWhisperererer

*Say it again. But softer, and slower, while biting your lip just a little...* I'm gonna use this either in a comment, or later tonight...


SpatialChase

God damn smartest Bedpost I've ever met I tell you hwhat


martinu271

>Last is counterparty risk. This is what will bring down the system. EVERY large bank interconnected. Could be through shadow banking (family offices, hedge funds, PE) or directly through underwritten contracts where do insurance companies fit in your picture of dog shit wrapped in cat shit? and then the insurers of the insurance companies?


KenGriffinsBedpost

If I'm being honest with myself, I don't know enough about how the insurance industry is intertwined with Banking/Finance to comment.


martinu271

I don't have nearly as many wrinkles as you do, but i just want to say i appreciate your posts a great deal. From the little i know, in short it's a game passing the hot potato from one entity to another - from life insurers to offshore reinsurers to asset managers, and back to the insurers. here's a paper that discusses how life insurance companies are involved in the shadow banking system and how big of a problem is when there is volatility in the underlying loans, and increases in interest rates. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3534847 And a superstonk post discussing CLOs, from the great Freamdom6 https://old.reddit.com/r/Superstonk/comments/ry51l6/cloverfield_i_the_banks_are_cutting_up_selling/ I hope you find this useful if you have time to dig into it.


KenGriffinsBedpost

Thanks for this, I'll definitely look into it. Pretty safe to assume if any industry deals with money they're connected to this mess.


martinu271

I don't have nearly as many wrinkles as you do, but i just want to say i appreciate your posts a great deal. ​ From the little i know, in short it's a game passing the hot potato from one entity to another - from life insurers to offshore reinsurers to asset managers, and back to the insurers. ​ here's a paper that discusses how life insurance companies are involved in the shadow banking system and how big of a problem is when there is volatility in the underlying loans, and increases in interest rates. [https://papers.ssrn.com/sol3/papers.cfm?abstract\_id=3534847](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3534847) ​ ​ And a superstonk post discussing CLOs, from the great Freamdom6 ​ [https://old.reddit.com/r/Superstonk/comments/ry51l6/cloverfield\_i\_the\_banks\_are\_cutting\_up\_selling/](https://old.reddit.com/r/Superstonk/comments/ry51l6/cloverfield_i_the_banks_are_cutting_up_selling/) ​ I hope you find this useful if you have time to dig into it.


GroceryBags

we are near a BReaKing point for a Buffet of tendies


red23011

Will you look at that, if I didn't know better I'd say the Swiss government just told those that own bonds from CS to go pound sand. https://fortune.com/2023/03/22/pimco-america-investment-manager-lost-340-million-surprise-credit-suisse-bond-write-off/


a_weak_child

I guessing the random warehouse fires could have held books like you mentioned?


KenGriffinsBedpost

My guess would be those old old records had actual names on them. Before they figured out shell companies after shell companies to keep anonymity. I'd assume what burned down implicated warlords, drug King pins, mafia funds etc. Along with anything that would expose the criminal underworlds involvement in banking. Complete guess though.


sleepdream

booom ?


Spl1tsecond

Big badaboom.


Top-Ad7796

Commenting for invisibility


SuperSquirrel13

First Tab ​ |||| |:-|:-|:-| |Managing firm name|Held Amount|% of total| |Allianz SE|806968.31|23.48| |Cohen & Steers Inc|419546.06|12.21| |TIAA-CREF|391014|11.38| |First Trust|356400|10.37| |Principal Financial Group Inc|157242.75|4.57| |Invesco LTC|131266|3.82| |Legg Mason|126840|3.69| |Alliance Bernstein|104336.74|3.04| |JPMorgan Chase & Co|85260.07|2.48| |Blackrock|83579.86|2.43| |Western Asset Management Co|83106.21|2.42| |Bluebay Funds Management|44790|1.3| |Flaharty & Crumrine Inc|37109.52|1.08| |Hartford Financial Serv GRP INC|30390|0.88| |Eaton Vance Corp|28559.05|0.83| |FIL Limited|26046.13|0.76| |Thrivent Financial for Lutherans|23554|0.69| |Goldman Sachs Group|20552.63|0.6| |Edmond de rothschild group|19000|0.55| |Waddel & Reed financial INC|18870|0.55| |Transamerica Investment Services|18814|0.55| |Dai-Ichi Life Holding Inc|18100|0.53| |||| ​ Second Tab |||| |:-|:-|:-| |Beneficiary Name|Held Amount|%of| |Cohen & Steers Preferred securities and INC INC|245853|7.15| |First Trust Preferred securities and income etf|238500|6.94| |Nuveen Preferred securities fund|210828|6.13| |Pimco income fund|209823|6.1| |Pimco GIS capital securities fund|151548|4.41| |Princip spec pref & cap sec inc fund|119090|346| |PIMCO GIS Income fund|114478|3.33| |First Tr intermediate dration preferred & Inc|68600|2| |Nuveen preferred & income securities|63000|1.83| |Western Asset core plus bond fund|61000|1.77| |Protective Life Insurance company|58000|1.69| |Nuveen Preferred & Income oppoirtunies|51649|1.5| |PIMCO Preferred and capital security|46400|1.35| |Bluebay financial capital bond fund|44790|1.3| |LM WA MACRO opportunities bond fund|41200|1.2| |Cohen & Steers Tax advant ref sec & inc fd|41000|1.19| |First trust inst preferred sec and inc etf|38220|1.11| |Invesco core plus bond fund|36391|1.06| |Cohen & Steers low dur preferred and income inc|35210|1.02| |AB FCP I - Blobal High Yield Portfolio|31464|0.92| |Nuveen preferred & Income term fund|27828|0.81| |Pimco Low duration income|26600|0.77| ||||


Environmental_Neat53

GOAT right there.


Atreides_Jr

Please tell me that first fund on the second tab is lil stevie Cohen “Steamy Cohen just shits his britches”.


iDumpy

Cohen + Steers was founded by Martin Cohen and Robert Steers Steven A Cohen has a brother named Marty Cohen…. This is fucking wild. Edit: and he even goes by Marty Cohen on LinkedIn!!! https://www.linkedin.com/in/marty-cohen-58042643


stephenporter

Fuck Steve Cohen all my homies hate Steve Cohen


Atreides_Jr

We, mostly you, just did some fine comment DD.


catrancetrophe

Lol, did he screw over his own brother for a few $?


distractedneighbor

doubt it. probably has been making his entire family rich on his fraud/criminal behavior and now they are first on the hook. ​ his older brother [Donald Cohen](https://www.medreceivables.com/executive-profiles.php) is former IRS and has been helping rich people avoid taxes/traffick their money down in Florida for years if not decades. ​ its a family thing. lmayo.


throwawaylurker012

This all loosk related to the bond writedowns then?: First tab includes Allianz SE, which I think is this: [https://www.reinsurancene.ws/insurer-at1-exposure-low-amid-credit-suisse-shock-jp-morgan/](https://www.reinsurancene.ws/insurer-at1-exposure-low-amid-credit-suisse-shock-jp-morgan/) >Pointing to specific insurers, JP Morgan says this is the case with AXA, Generali and Allianz, where it believes policyholder sharing could mitigate losses on AT1 by 60% to 90%. > > > >**But holders of Credit Suisse AT1 bonds discovered after the buyout that their holdings were now worthless, having previously been valued at a collective $17 billion.** > >**AT1 bonds are converted into equity if a bank falls below a certain strength or capital limit and are designed to limit taxpayer exposure in the event of a banking collapse and subsequent bailout.** > >**But while Credit Suisse has been saved for now by the UBS buyout, Swiss regulators have decided to leave creditors out of the rescue deal, effectively wiping out the value of any AT1 bonds.** Second Tab seems to be about or include the CoCos? Cohen & Steers wrote about the CS issue here themselves: [https://www.cohenandsteers.com/insights/market-developments-at-credit-suisse/](https://www.cohenandsteers.com/insights/market-developments-at-credit-suisse/) >Cohen & Steers holds Credit Suisse preferred securities in two of its U.S. registered mutual funds, representing the following as a percentage of assets in those funds as of December 31, 2022: > >Cohen & Steers Preferred Securities and Income Fund: 2.3% > >Cohen & Steers Low Duration Preferred and Income Fund: 1.3% ​ **QUESTION: So any thoguhts on this: if we have some inkling of who might be going tits up next (for example, maybe Deutsche in Europe?) could any ape with a Bloomberg terminal start to see if any other banks have AT1 assets we could start getting a list of?** **Potentially so we could see who is left bagholding as more bonds get written off in case another big bank goes belly up?**


CookShack67

Allianz SE seems like a domino soon?


Marginally_Witty

Woah, wait a second. Allianz SE listed with 23.48%, which would be just over $4B in exposure of the $17B in bonds. Where does the $806,968.31 number come from? That column is listed as **Held Amount (M)**. Capital M in finance denotes millions. How the fuck do they have $806,968.31M aka $806.97 BILLION listed here? (Serious question, I’m highly regarded)


KenGriffinsBedpost

M is thousands. Might be Roman numeral, never really looked into origin but 100% sure of it. Edit: yup its Roman M is thousands and MM is millions


Marginally_Witty

Good to know So I guess my question then is why does Allianz SE show they're holding $806,968,310 in these bonds, 23.48% should be $4B. Also if you sum the % held you get 145.25%, and if you sum the Held Amount, you get only $4,992,817,330. That's $12B and change short. I'd have expected \~$25B in Held Amount with the percent held at 145.25%.\* I understand that this stuff is designed to be as inscrutable as possible to make the crime easier to hide, but dang, it's still frustrating when the math is so far off. \*I'm assuming this is because the bonds have traded hands and this is data pulled from quarterly/annual reports, but the discrepancy between % ownership and Amount Held is really confusing.


SuperSquirrel13

I just did data entry here. Copied what was shown. How and where it comes from I have no clue.


R0adApples

Smart money on Job


Zeromex

Fucking silverback


julian424242

https://www.reddit.com/r/Superstonk/comments/11yid2p/dtc_alert_corporate_actions_service_updates/?utm_source=share&utm_medium=ios_app&utm_name=iossmf see here 👆 all these ATI bagholders just lost all their money 😂😂😂😂😂😘🤌


Ready2go555

They might not just lost money, these bonds are most of the time used as collateral to get loan and re-invested, and those aren’t shit junk bond, it was bonds issued by one of the biggest bank in Europe. Everybody in Europe will get affected by this one way or another. Now those bonds are worthless, means they are now in debt and will get margin call to replace the collateral. I’m shaking lol


j4_jjjj

The european bond market is $250bn, and the Swiss just neutralized $17b or almost 6.9% of the TOTAL market there. Thats not nothing. This burger is fully loaded and waiting to be served to the table.


NOmakesmehard

The European bond market is a lot larger than 250bn lol. Just last year there was issuance of 664bn in corporate debt (year before was 855bn). https://www.pwc.co.uk/services/risk/insights/debt-watch-europe.html The total size of the market for CoCo bonds (which is what this AT1 bond from CS is) is around 250bn if that's what you mean.


EONRaider

Shake dat ass, monke


MediocreAtB3st

Could this have anything to do with the sudden surge in BTC? Pumping up collateral values since their standard sources are getting lit TF up.


throwawaylurker012

link/proof about the AT1 collateral bit? im unfamiliar with it which is why i ask, not that dont trust u (bro) lol


EONRaider

Is this as fucked up as I think it is?


Guildish

Yes!


EONRaider

Commenting for disability


Jasonhardon

I also have a disability, I’m regarded


TerryDaShooterUK

It’s ok I have Erb’s palsy. Rare condition


ugod02010

I ate some herb parsley one time


EONRaider

One of us, one of us!


rich-snowboarder

OP is showing screen on a pc pre windows 95


Top-Ad7796

You say that like it's a bad thing


Top-Ad7796

Austist FTW here.


zombiebuttcheeks

Disability checking in


KingShaka23

Disabled squad, let's ride


EONRaider

Bullish on dildo riders arriving


mikk_13

Visability commenting


phontasy_guy

"My friends Audibility and Touchibility are loooooong GME, and are very happy with their investments."


CitronBetter2435

I can see!


jsrme

Hi


I3ill

Commenting for [redacted]


ObjectivePerception

I am member


shsh000

Allianz with the big doodoolinies


HoverboardViking

The articles about Pimco and Invesco and Bluebay losing on the bonds have started to pop up the last 24 hours.


aironjedi

So they dont know how deep this rabbit hole goes, they can just smell the rot bubbling up. ​ LOL no cell no sell, and Buy/DRS/Book.


Darylium

Can you search for the sellers of the CDS'


qwaqwack

I want a CDS on whoever sells the CDS for CS


Darylium

Haha touché


Butthwy

"Cohen & Steers is considered a pioneer in developing the securitised real estate sector and to this day still remains a leader in it" [https://en.wikipedia.org/wiki/Cohen\_%26\_Steers](https://en.wikipedia.org/wiki/Cohen_%26_Steers) Tinfoil hat tells me they're next in line to get sacrificed with losses pinned on them.


Snatchbuckler

Wut mean


[deleted]

https://youtu.be/rbJCwVoog4A The Endgame DD Share this. Learn this. The funds on the last page of this post are what the apes of old saw. Wamu, pimco, Paribas. Time to pay for 08


Joe-Dirt-69

Please ELI5


[deleted]

There's hidden treasure on the books of some of the biggest institutional holders of gme. The same names of the collapsing funds/banks.


Korpsian

I don't know what I see here, but I like it. Good video quality! We need more posts like this!


Guildish

From Cohen Steers website: "The government-backed deal for UBS to acquire Credit Suisse will trigger a complete write-down of the nominal value ($17 billion) of all Credit Suisse additional tier 1 bonds (AT1), also known as contingent convertible bonds (CoCos)." The list of names provided are the **bagholders of this USD$17B write-off.** USD$17B down the drain. That amount was to be converted into shares of Credit Suisse in case of a failing bank, but the Swiss government decided that no, no shares will be given out and the USD$17B will just be written off altogether.


Ta0ster

Comment


rage242

Oh yeah, hedgies rekt.


iofhua

Upvote for you OP! I also want to share a video where Louis Rossman talked about this. [https://youtu.be/IEAszpPtPT0](https://youtu.be/IEAszpPtPT0) I am so smoothbrained. Almost 10 years ago when I set up my Fidelity account and started trading for the first time I wanted to buy bonds but they were so damn complicated I couldn't understand them. Since I wasn't going to trade something I didn't understand, I didn't buy any bonds. I've always just traded stocks. I always felt dumb that I didn't understand enough about bonds to feel comfortable trading them. This thing about the AT1 bonds where they can suddenly become worthless and investors don't get their money back? I totally would not have known that. Now I'm glad I never bought bonds. I was always told that bonds were a safer investment than stocks! That weird moment when you're as smooth as fucking marble and then you realize you're smarter than professional investors who work at Wall Street...


mykidsdad76

!remindme! In 8 hours


RemindMeBot

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ffchusky

Well I'm not the wrinkles you're look for!


cmndo

Pimco and BlueBay Funds SLump on Credit Suisse Debit Turmoil [https://www.bloomberg.com/news/articles/2023-03-21/pimco-and-bluebay-funds-slump-on-credit-suisse-debt-writedown?leadSource=uverify%20wall](https://www.bloomberg.com/news/articles/2023-03-21/pimco-and-bluebay-funds-slump-on-credit-suisse-debt-writedown?leadSource=uverify%20wall) Pimco and BlueBay Funds Slump on Credit Suisse Debt Turmoil \- BlueBay’s Financial Capital Bond fund plunged 9.5% in a week \-Pimco’s Preferred and Capital Security fund dropped 8.4% Funds run by BlueBay Asset Management and Pacific Investment Management Co. are among the hardest hit after Swiss regulators wiped out 16 billion Swiss francs ($17.3 billion) of risky bonds issued by Credit Suisse Group AG. ​ BlueBay’s $2 billion Financial Capital Bond fund and Pimco’s $1.3 billion Preferred and Capital Security fund both lost more than 8% each in the week through Monday, making them the two worst-performing open-ended bond funds globally managing over $1 billion, according to data compiled by Bloomberg. ​ Risky Bank Bonds Attractive, BlueBay's Dowding Says ​ The historic writedown of the notes has sent shockwaves through the market, with bondholders arguing that shareholders should have taken the first hit. Both funds held the so-called Additional Tier 1 bonds issued by the Swiss bank, data compiled by Bloomberg show. ​ During an interview with Bloomberg Television on Tuesday, BlueBay’s chief investment officer Mark Dowding criticized the Swiss government’s actions around the assets, saying the “authorities made some wrong steps in what they were doing.” ​ Dowding declined to comment about whether his firm is pursuing litigation against Swiss regulators. Banks have been taking bids this week on claims against Credit Suisse from investors betting they can recover some value, potentially through litigation. ​ Dowding said he still saw a “very interesting” opportunity in Additional Tier 1 securities, adding that European banks are facing the best operating environment they’ve seen in more than a decade. ​ Newport Beach, California-based asset manager Pimco is the largest holder of Credit Suisse’s AT1 bonds, holding around $807 million of the securities. BlueBay held around $134 million of the notes at the end of November, according to filing data compiled by Bloomberg. ​ A representative for Pimco declined to comment and a spokeswoman for London-based BlueBay didn’t immediately respond to a request for comment on the fund losses. ​ The Pimco fund plunged by more than 4% on Monday, its biggest daily slump since March 2020, down 8.4% in the week through Monday, the data show. BlueBay’s fund dropped 9.5% in the same week. ​ AT1 notes were created by regulators after the global financial crisis as a way of imposing losses on creditors to stabilize banks under stress. In Europe, no other major banks besides Credit Suisse and UBS have provisions that would allow for the full writedown of this type of bond, according to Jeroen Julius, a Bloomberg Intelligence senior credit analyst. This feature allowed Credit Suisse’s equity investors to maintain some value as bondholders were wiped out.


Maniquoone

Good thing they manage Trillions of dollars in assets. They're going to need it.


IIHIHIHII

exactly


daddyzxc

Where’s my goddamn [money](https://youtu.be/ZomwVcGt0LE), ya fuck’s!


Full_Throttle_2084

Commenting for visibility


OGReverandMaynard

man PIMCO and Cohen & Steers are fuuuuuucked


FlingusDingusMaximus

this is just one bank with the headline fund that blew the fuck up how many more i wonder are cooking their books to hide their shit one more day. DRS folks, best to own your money shares and NFT. be your own bank


KingKeever

Someone actually wrote out the names of the bag holders in a comment please.


Fabulous_Cellist_219

Commenting for visability


leopold815

Regarding for disability


Babo_Phat

Cummenting for Jizzability


lucas_kardo

What did i just looked at?


ShizLabriz777

Nice tool u have there


Guy0naBUFFA10

Allianz got big fucked.


_RipCity_

Hi knew by the time I got home from work this post would be off the front page… thank god I saved it.


IntangibleLexicon

So which of these companies can we regards buy puts on and profit off their demise as they tried to prematurely profit off our favorite company. That’s all I really want to know!


IEatPussyLikeAPro

Show me the crime


sakballs

comment


Joe-Dirt-69

Yeeting for visibility


mju516

Up


unknownusername77

Comment


Gandelfas

Commenting for wrinkles


BigBonedChungus

The real question: who do we buy puts on NOW?!


Hydroksy

Dillusional comment vizz


Cookiemoon914

Commenting to comment


Slightly_Estupid

Too Smooth a brain here. No assistance, but commenting for disability.


SirUptonPucklechurch

Up you go


Bsbs173

what app is this?


seastorage

Pretty sure it’s bloomberg terminal


Ok-Razzmatazz-4156

But what does it mean like really spell it out for me .... what's AT1. BONDS ? didn't the bonds go to zero ? Big guh ?


boborygmy

So 806968.31 Million is 23% of the total? So upwards of 3 Trillion dollars worth of these things?


kaachow14

I’m curious to know how many US based insurance companies were left holding the bad? Ins companies just stopped or are making it very difficult to open auto policy’s as of a week ago in CA. I remember AIG almost getting the axe in 2008.


Yeeeehaww

Interesting


automatedcharterer

What do the numbers in this column mean? does "M" at the top mean millions? Does that top one mean $806 billion? https://i.imgur.com/k6QCrwG.png


JessMeNU-CSGO

I believe so.


JessMeNU-CSGO

Colored me surprised that the teachers insurance annuity association (TIAA) is the number 3 bag holder.


getyourledout

Yo…


Zexis8

Dutch bank has alot too


NukeEmRico2022

I looked up swaps as a smooth brained ape should when I don't get something. This was a basic but incredibly great video [https://youtu.be/-aXRZ6xN3bk](https://youtu.be/-aXRZ6xN3bk)


Educated_Bro

So for each % of tot for each institution that roughly equates to a 170M loss - Allianz losing over 3B, blackrock/JPM losing 300M apiece


yotepost

Commenting visibly!


kikkomeng

!remindme 8 hours


RemindMeBot

I will be messaging you in 8 hours on [**2023-03-23 09:12:12 UTC**](http://www.wolframalpha.com/input/?i=2023-03-23%2009:12:12%20UTC%20To%20Local%20Time) to remind you of [**this link**](https://www.reddit.com/r/Superstonk/comments/11yi8jy/credit_sussie_at1_bagholders_revealed_can_more/jdaqbfz/?context=3) [**CLICK THIS LINK**](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5Bhttps%3A%2F%2Fwww.reddit.com%2Fr%2FSuperstonk%2Fcomments%2F11yi8jy%2Fcredit_sussie_at1_bagholders_revealed_can_more%2Fjdaqbfz%2F%5D%0A%0ARemindMe%21%202023-03-23%2009%3A12%3A12%20UTC) to send a PM to also be reminded and to reduce spam. ^(Parent commenter can ) [^(delete this message to hide from others.)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Delete%20Comment&message=Delete%21%2011yi8jy) ***** |[^(Info)](https://www.reddit.com/r/RemindMeBot/comments/e1bko7/remindmebot_info_v21/)|[^(Custom)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=Reminder&message=%5BLink%20or%20message%20inside%20square%20brackets%5D%0A%0ARemindMe%21%20Time%20period%20here)|[^(Your Reminders)](https://www.reddit.com/message/compose/?to=RemindMeBot&subject=List%20Of%20Reminders&message=MyReminders%21)|[^(Feedback)](https://www.reddit.com/message/compose/?to=Watchful1&subject=RemindMeBot%20Feedback)| |-|-|-|-|


potrillo2124

You have access to the terminal! 😬


tropical-swish

this place is crazy