Jason Tillberg

The Coming Consequences of Banking Fraud

"A sound money backed by precious metals, can be the people’s liberation from this war."

The earliest Americans already spilled their blood for that. :(

Identifying a Bottom for Financials

I own SKF for clients. A position I started building in May when it was under 100. My thoughts in March when Bear went bust were "who's next?"

LEH come to mind. Over the last 3 years, their asset column went from having $416 billion in assets to $689 billion. Their net tangible equity went from only $13 billion to $20 billion. Granted thet bought back $2 billion in shares each year.

But all that leverage, it seems just way too high. As Warren Buffett has said, there will be more pain in this deleverging process. A bottom we have yet to hit. Probably not unitl 2010 in my opinion, but lots of ups and downs.