Schwab has lost $140 billion in deposits over the past year. Right now it has about $50 billion in cash on hand. The company has to take out some higher interest debt in order to pay that cash.
When Silicon Valley Bank collapsed, some investors thought Charles Schwab could be next. But, the bank with $8 trillion in client assets is proving to be resilient.
(00:21) Ricky Mulvey and Asit Sharma discuss: - Schwab’s cash sorting problem. - Takeaways from bank earnings. - A deadline for the Microsoft/Activision deal whooshing by.
(11:21) Robert Brokamp answers listener questions about 529 plans, target-date funds, and investing in a 401(k).
Companies discussed: SCHW, MS, PNC, BAC, MSFT, ATVI
Pullback report: www.fool.com/pullback
Got a question for the show? Email us at podcasts at fool dot com.
Host: Ricky Mulvey Guests: Asit Sharma, Robert Brokamp Engineers: Dan Boyd, Rick Engdahl
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