A few thoughts on the Silicon Valley Bank failure... π¦
It may or may not be a bigger deal than what markets are pricing in π€

Over the past week, the world has learned a lot about Silicon Valley Bank (SVB), why it failed, and what the consequences of its failure could be.
For now, Iβd still caution against jumping to conclusions on what the ultimate consequences will be.
What actually happens could be worse than what markets are reflecting. It could also be better.
Is that vague enough for you?
Unfortunately, this is what investors sign up for when they put their money at risk in the stock market, where uncertainty is always high. There will always be a top-of-mind risk at any given moment, and there will always be plenty of pundits arguing why they believe this will be the risk that pushes the economy over the brink.
According to history, things often turn out better than expected. Sometimes, things turn out far far worse than expected. Every time is different. And every time, the markets and the economy eventually emerge stronger.
Where things stand π€
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