CS buys back $3bn debt. Are incoming FT offers safe for now?
Wondering if this is a sign that everything will indeed be fine? Should I still try to lateral?
A tad bit worried after seeing Meta pull their 2023 intern offers.
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Bump
Probably
Meta is a complete shitco offering a product that fewer and fewer people want each day. Credit Suisse is a legitimate bank going through a tough period. Wouldn’t compare the two.
This is the dumbest take I’ve ever seen.
Meta makes $120bn in rev and is a cash machine. Owns the most popular applications in the world.
The other is a shitty IB that mismanages in an extremely cyclical industry that is dying. Legacy banks are being destroyed. Why do you think JP Morgan is putting $10bn into R&D just this year.
Seriously cannot call Meta a Shitco when CS is literally one of the most shit business models out there.
Use your head would you rather own a business that has a 20% net income margin or a -50% net income margin?
Yeah social media does not have the same staying power as an ecosystem like Apple. I look forward to seeing the Zuc become a penny stock
Oh yeah because banks never blow up overnight, and trillion dollar tech businesses can...
Personal opinion is we’re fine in the short term as long as there’s not an immediate recession along with spin off.
AFAIK all hiring is currently freezed at cs.
That’s same with most banks though, not unique to CS. GS, Barclays etc have froze hiring for a while now.
Oddly not true, they hired a ton of FTs this past month due to interns switching groups / banks
Lol if anything it’s the exact opposite. They’re using scarce liquidity to buy out debt investors and signal strength, to hopefully reduce funding costs so they don’t go bust. (The fact that they have to do this isn’t a great sign). What no one seems to remember is what made Lehman go bust was they’re inability to access the repo market. CDS levels drive the rate banks get charged in the repo market. This ~overnight secured financing is a massive chunk of how BB’s S&T operations gets financed. Look at the GS or MS fixed income investor presentation
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