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Meme Melee Cost Credit Suisse $80 Billion In Outflows, Results Suggest
Unfounded rumors about Credit Suisse's solvency contributed to a larger-than-expected CHF110.5 billi
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It is difficult to rebuild trust, once it has been violated. I am a long time investor in a company called Ubiquiti Networks that was and continues to be an amazing company. No analysts cover this company anymore because the CEO/founder owns 96% of the outstanding shares, but when I first started investing in Ubiquiti, the founder only owned about 55% of the shares and an analyst from CS was so dishonest in his coverage due to CS clients who were shorting that stock. I could go on and on, but I won’t. I will never be able to trust CS- and I don’t think I am the only one that feels that way.
I think that goes for any big box bank analysts and the 2 big rating agencies, its all part of the manipulated game. Welcome to the casino
I am one of those investors who owns stuff but doesn’t always pay attention to it. CS manages some closed end funds (a favorite vehicle of mine). I have 10,000 shares of one of them, CIK, also selling at a “princely” $2.78. It pays close to 10% and I have a gain in it so I assume since it has its own capital it will survive the bank’s mess. But I’ll be watching more closely now.