from Patrick McKenzie | by Patrick McKenzie

Patrick McKenzie


3 months ago

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Markets seem to be coming around to this point of view, unfortunately.

Suppose I’ll make the disclaimer once to avoid having to do it a lot: owing largely to factors related to working in financial industry I have not been short any bank in many years, would not start now even if warranted, and my direct exposure to bank equity is homeopathic.

“Homeopathic?” So I have long had a practice of buying a trivial amount of stock (typically a few hundred dollar’s worth) for any bank that my family or business depends on, for the explicit purpose of being able to call Investor Relations and identify myself as a shareholder.

That is anomalously useful if one runs into routine banking issues, and the general weirdness in my life plus a bit of quirkiness in decisions I make causes me to run into anomalously many routine issues with banks.

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