Wall St. For Main St., Released on 4/24/23

About a month ago Doomberg wrote a piece on US regional banks: https://doomberg.substack.com/p/regio…

On today’s earnings release, First Republic Bank’s deposits plunged by nearly $72 billion, or 41%, during a brutal first quarter that saw its customers yank money from the bank amid a crisis that felled three other lenders. First Republic Bank deposits fall 41%, shares slide https://finance.yahoo.com/news/first-… First Republic FRC +12.20% (ticker: FRC) reported diluted earnings per share of $1.23, down 38.5%. Analysts had expected EPS of $0.95, according to Factset. First Republic has $170 billion in loans and only about $100 billion now in deposits. Jason asks Doomberg about First Republic Bank and other regional banks having depositors pull out lots of cash moving it to US Treasuries or money market funds or larger banks. Doomberg also talks about how US commercial real estate and higher interest rates are causing the majority of the problems for US regional banks. To wrap up the interview, Jason asks Doomberg about US oil production peaking in the Permian Basin and problems moving natural gas to where it is needed in the US.

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Doomberg is the anonymous publishing arm of a bespoke consulting firm providing advisory services to family offices and c-suite executives. Its principals apply their decades of experience across heavy industry, private equity and finance to deliver innovative thinking and clarity to complex problems. Doomberg on Substack: https://doomberg.substack.com.

Jason Burack is an investor, entrepreneur, financial historian, Austrian School economist, and contrarian. Jason co-founded the startup financial education company Wall St for Main St to try to help the people of Main Street by teaching them the knowledge, skills, research methods, and investing expertise of Wall Street. 

  banking crisis, commercial real estate, doomberg, economy, investing