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Kurt Kendis

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  • Are Zombie Banks Getting Better? [View article]
    Stephan, your observations (and your affection for the Friday FDIC report ---JPM does an in-septh analysis called 'Friday Failure Rundown') would be satisfying if there were period to period comparability -- there is not. The most recent two quarters have seen a balooning of TDR's, which were preceeded by amend and extends, and each quarter there appears to be some accounting nuance that explains a material % of the results. Of course all will be better in 2014 when all the new rules are implemented (I dont know how to do a smiley face).
    Apr 6 09:50 AM | Likes Like |Link to Comment
  • Dividend Reservoir: Reconsidering Bank Stocks [View article]
    Dilution has to be considered when discussing dividends. One result ofthe crisis and government intervention was the issuance of new capital and quasi capital. By example Citi went from about 6B shares to just under 30B shares. Sort of negates the effect of a payout rate from the investors point of view.....
    Mar 13 09:32 AM | 5 Likes Like |Link to Comment