The late great “Ace” Greenberg led Bear Stearns through the best of times and had among many expressions that “there is never only one cockroach” So…no one should be surprised to see the financial collapse of two large banks over the last few days. Find one and look for others. Another favorite was “this time it will be different”. Bull.

The following graphs of SIVB and SBNY show the price history over the last few weeks. Someone knew something.

Prices ar as of the close of Friday, March 10, 2023