https://youtu.be/cWU1VIBV1yY

Hold on tight ladies and gent. We are doing final final checks for take off.

Credit Suisse has asked investors for almost $2bn as it seeks to rebuild its finances after suffering what the chief executive called "unacceptable" losses.

I don't know man I don't know

I am JACKED TO THE TITS

💎🙌🏽

This is some major hard on for me

https://www.google.com/amp/s/www.bbc.co.uk/news/business-56841945.amp

https://finance.yahoo.com/quote/CS/

Do you Guys all remember the report which Credit Suisse released after the downfall of Archegos. The one which mentioned GME as a systematic risk for the Bank, because Archegos had a massive short position on GME which they didn't close.

I would assume that Credit Suisse still holds this short position and that CS already had one before. This combined with the rumors of a future January short squeeze because of the massive amount of put options expiring worthless, and the rumors spread by JPM, lets me think that the hf-section of CS maybe already know that they will have to close in the near future. Maybe they use this tactic of already announcing it to not spread fear around the markets because they want retail to hold the bag when shit is going nuts.

But yeah this is all just my view on this and I would be happy if any wrinkle could also have an eye on this.

This is the link of the report:

https://www.credit-suisse.com/media/assets/corporate/docs/about-us/investor-relations/financial-disclosures/results/csg-special-committee-bod-report-archegos.pdf

https://preview.redd.it/6b4cuk4obv981.jpg?width=620&format=pjpg&auto=webp&s=3729fd494e83c81a89107dacfd08161e1d787300

https://preview.redd.it/f3ont4ftcv981.jpg?width=1080&format=pjpg&auto=webp&s=ac352f55a6e503e9f99ff66cc2d7b1ca58a5ab12

https://eletric-vehicles.com/2021/12/29/credit-suisse-reiterates-nio-83-price-target-and-an-outperform-rating/

I heard some guy on the news talk shit about the stock I love so much, so I decided to use my weaponized autism to look into the company he represents and try to understand their motives for talking shit. Spoiler: We found some shit.

Let's connect some dots:

Anthony Chukumba works for Loop Capital.

https://www.loopcapital.com/location-chicago-il

Loop capital has an alias called JLC Infrastructures

https://www.dnb.com/business-directory/company-profiles.mje-loop_capital_partners_llc.9d5b4eca46e974b0edeb513b74b06ac4.html

JLC has a form D/A for $342,121,212 from 8 partners, listing Credit Suisse Securities (USA) LLC as "Sales Compensation" and "Earvin Johnson" listed as "Managing Partner of the Investment Advisor"

https://www.sec.gov/Archives/edgar/data/0001713119/000101297519000672/xslFormDX01/primary_doc.xml

MJE-Loop Capital Partners LLC is also listed.

https://jlcinfra.com/index.php/team/

Turns out Earvin Johnson is THE Magic Johnson. MJE = Magic Johnson Enterprises. I guess JLC = Johnson Loop Capital.

After Googling various terms with JLC and the like, I found:

Academy Sports and Outdoors, Inc

Which lists Gamestop as a competitor. And has previous Gamestop board of directors (The ones RC kicked out) listed as board of directors.

• James “J.K.” Symancyk, 48, brings more than 25 years of executive leadership and operational experience in the retail and consumer products industries. He has served as President and CEO of PetSmart, Inc. since 2018. Mr. Symancyk previously served as President and CEO of Academy Sports & Outdoors, Inc., a retail and ecommerce sporting goods chain, from 2015 to 2018. Prior to that, he held leadership roles of increasingly responsibility at Meijer, Inc., a regional supercenter chain store, including as President; COO; and EVP, Merchandising & Marketing. He began his career at Sam’s Club, where he served as Divisional Merchandise Manager, among other roles. His current board memberships include Petsmart and Chewy, Inc., and previously Academy Sports & Outdoors. Mr. Symancyk holds a Bachelor’s degree from the University of Arkansas.  Mr. Symancyk has been appointed a member of

Bloomberg

Credit Suisse is starting the year on a sour note, with the bank disclosing Monday that 69 New York staffers will be shown the door.

The pink slips are in a division that served hedge funds and which is being wound down after Archegos Capital Management collapsed last year, sticking the bank with a $5 billion loss. New management vowed to stop lending to hedge funds or processing their trades, a typically lucrative business dominated by Morgan Stanley, Goldman Sachs and JPMorgan.

Layoffs at Credit Suisse will begin March 6, according to a filing with the New York state Department of Labor, and the prime services division will close by August. The bank declined to comment.

Credit Suisse losses mark a failed revolution in the risk-management department

Wall Street bonuses to average $210K this year, even as unemployment stays high Credit Suisse’s misfortune contrasts with most banks, which enjoyed an extraordinarily robust 2021. The average Wall Street bonus is expected to set a record of $210,000 per person.

But at the Switzerland-based bank net income fell by 86% over the nine months ending last Sept. 30, to $475 million, and its investment-banking division posted a nearly $2 billion pretax loss. Results were weighed down by regulatory charges, litigation costs and hedge-fund-related losses. In addition to the Archegos fiasco, the bank wrote down its stake in Manhattan-based York Capital Management by about $125 million after taking a $450 million loss in 2020.

Credit Suisse said that the fourth quarter of 2021 would be unprofitable because it expects to take a $1.6 billion writedown related to its acquisition of investment bank Donaldson Lufkin & Jenrette. Credit Suisse acquired DLJ 22 years ago.

The bank had 7,500 New York employees in 2017, according to figures from eFinancialCareers, about one-seventh of its workforce. In November management said that in recent years it had cut capital allocations to the investment-banking division almost in half and was focusing on serving wealthy clients. All employees were being asked to speak up if something was amiss.

“Underpinning our growth strategy is sound risk management,” Chief Executive Thomas Gottstein told investors in a November presentation. “Everyone is a risk manager.”

Link: https://www.crainsnewyork.com/finance/credit-suisse-lay-new-york-employees-it-shuts-hedge-fund-division

Credit Suisse has shares in both CLOV and HUM with a significant lean toward HUM. They also have a major partnership with HUM. That means they took a 20% haircut when HUM dropped.

The newer insurers dropped significantly the following day with this absurd downgrade from CS. This could be a turning point where CS is attempting to get into the viable competitors cheap to make up for their HUM losses and get on the right side of future of insurance (great book btw). The thesis should be supported by the CS starter position of around 87k shares in CLOV.

It’s that, or they are looking to suppress the price, organically suppressing growth/financing, and leading to a cheap buyout situation.

All of this makes sense when considering no fundamental change in CLOV in the last month since CS’ last PT update. We may not be seeing a bottom just yet but, as long as Clover Health delivers as predicted, this may be the beginning of an accumulation phase by the historical supporters of the incumbents.

——————

*This does not take the Omicron variant impact on the healthcare system and Fed statements into consideration which has obviously driven many equities down in recent months as well. I believe there are multiple factors causing the drop with price control being one of them. It’s an opportune time for institutions to get in cheap.

*Its also important to note the MC currently sitting near (a little higher) incumbent valuations. This should provide some pricing stability as long as the fundamentals remain unchanged.

Credit to Albert Alan for connecting some of these dots. u/Puzzled_Owl7410

Source: https://www.google.com/amp/s/www.cnbc.com/amp/2021/04/22/credit-suisse-earnings-q1-2021-.html

Quick DD on whats storms are Brewing with the Hedge Funds Just an ape 🦍 that cant sleep up eating Crayons

• LONDON — Credit Suisse reported Thursday a net loss of 252 million Swiss francs ($275 million) for the first quarter, at a time of increased pressure on the bank. Shares fell almost 5% at the market open.

• Credit Suisse took a hit of 4.4 billion Swiss francs as a result, which it said on Thursday had "significantly impacted" first-quarter results.

• In March, Credit Suisse also adjusted its asset management business and suspended bonuses after the collapse of Greensill Capital, a British supply chain finance firm.

More losses ahead

• Credit Suisse said Thursday it had exited 97% of its trading positions relating to Archegos hedge fund and expected to report an additional loss in the second quarter of around 600 million Swiss francs.

All - I've noticed a disturbing trend lately of less and less quality DD and research, citing sources and getting the truth out there in this sub. In that vein, I've seen a lot of posts cheering Credit Suisse's Bank's NY-based hedgefund division (NOT/NOT A HEDGEFUND ITSELF - KEEP SEEING THIS) going down, which normally I'd be all for since it serves various hedge funds, except I was only tracking CS having long positions on AMC. (I was tracking them having added 742K to total of 1.1136 mil shares as of 2 months ago!)

CS got raided in early OCT by Swiss law enforcement regarding Greensill capital (10bn fund that went down that CS managed) at the request of Zürich’s cantonal public prosecutor ( The prosecutor has opened a criminal investigation into Greensill’s activities and the way in which Credit Suisse funds that financed the British firm’s contentious lending schemes were managed and marketed, according to two people familiar with the probe. Credit Suisse confirmed its offices had been raided, but said the bank itself was not currently a party to the investigation.)

Not long after these events, CS then took a 5bn shellacking during the Archegos meltdown, and now we have them shuttering their NY-based hedgefund division. It seems though this has been planned since Antonio Horta-Osario came onboard, for the better part of 6 months. Sounds like they see the writing the wall and are positioning for survival after pissing on the electric fence twice.

"...the Switzerland-based bank net income fell by 86% over the nine months ending last Sept. 30, to $475 million, and its investment-banking division posted a nearly $2 billion pretax loss. Results were weighed down by regulatory charges, litigation costs and hedge-fund-related losses. In addition to the Archegos fiasco, the bank wrote down its stake in Manhattan-based York Capital Management by about $125 million after tak

Source:

• The firm sees the benchmark index reaching 5200 by the end of 2022, higher than its previous target of 5000.

• The new projection implies about 11% upside from the S&P 500′s close Tuesday at 4,686.75.

• “This constructive outlook is based on robust projections for economic growth in both real and nominal terms, further margin upside in cyclical groups, a pickup in buybacks and a favorable discount rate despite Fed tightening.”

• Credit Suisse believes the U.S. economy will expand in 2022. The firm projects nominal GDP will grow 7% in 2022, real GDP will increase by 4% and inflation will rise 3%.

• The labor market recovery and improvements in backlogs and inventories should also support stronger economic and sales growth

• firm recommends investors be overweight in cyclical stocks in the energy, materials, industrials and discretionary retail sectors.... be market weight in technology, internet service and internet retail stocks.

What's your take on these bullish projections? Will we go into recession or is CS correct? Are you looking to rotate from tech into cyclicals? If so, which cyclicals?