Warren Buffett's View on Bank Stock Performance

He explained a couple of people he spoke specifically about first Republic, which was the recent one that collapsed. He said you could have seen it in their 10K. So he actually kind of saw this happening that banks were getting greedy and they were hiding these unrealized losses. In SVB's case, it was unrealized losses on long-term government bonds. And in first Republic's case, It was a lot of these non-government guaranteed mortgages.