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Good result again. Would you mind to explain your fan family, which even I belong too, in detail why you closed this trade exactly at this market level?
Swiss banks are on the decline. Branches are being closed, profits are nowhere for the shareholder. Instead, the rip-off artists from the carpet floor are THE winners every year with lavish bonuses!
The Credit Suisse share, number 2 behind UBS, has lost over 81% since its high in 2007! Yesterday, the share was trading at CHF 4.
Where are the problems? CS has sold a lot of its own properties in order to continue renting in some locations. Important silverware is missing. In addition, many customers have been lost - especially from abroad. There is no recognisable strategy at home and abroad. The top management is constantly being replaced. No one seems to be responsible for the losses. Nevertheless, more than 50k employees are still employed!!!
As CS explained, 10 billion Swiss francs are needed as a capital increase.
The question is, however, whether such an investment will be found and then bear fruit.
The undersigned here sees no future. The wrong investments were made in modern banking software or customer-friendly online payments and written off. Everything was slept through without ideas. Nor has any substantial offer been made for the target group of investors from rich countries. This led to an extreme outflow of customer money. The turnover in 2021 was a mere CHF 22 billion. Per head turnover only 441k in 2021.
Devastating! Neon banks are overtaking left and right.