March 2023 (Part II) – Charles Schwab Risk and Your Potential Exposure
March 14, 2023
Dear Investors and Friends, Following up on yesterday’s letter that dealt with developing a better understanding of the risk of failure at a bank, we received several questions from clients regarding the relative safety of their assets custodied at a broker-dealer custody bank in gene …
March 2023 (Part I) – How to Protect Your Cash from the Risk of Bank Failure
March 13, 2023
Dear Investors and Friends, In his most recent letter, Warren Buffett said, “our CEO will always be the Chief Risk Officer- a task it is irresponsible to delegate.” The importance of thoughtful and comprehensive risk management was highlighted last week and this weekend by the failure …