Be Greedy When Others Are Fearful: Francis Chou Edition [View article]
It was not Bank of America who said it -I wonder what is the incentive of the insurers insurers-, $20 billion is the upper limit, and it is much less than one year of earnings.
"the Association of Financial Guaranty Insurers said in a Sept. 2 letter to Bank of America Chief Executive Officer Brian T. Moynihan. Ambac Financial Group Inc. and Assured Guaranty Ltd. are members, and the group said repurchases may total $10 billion to $20 billion. "
Citibank IS earning more than $1 per share. Check the pre-tax pre-provision earnings.
I agree with all what what you say about Wells, but it has nothing to do about the depth of the current credit issues and the numbers show that the credit issues are improving.
Be Greedy When Others Are Fearful: Francis Chou Edition [View article]
Not sure I understand what you are trying to say, the unemployment numbers are economic numbers and very much followed. If there are other issues with the economy not being quantfied, what are those?
Be Greedy When Others Are Fearful: Francis Chou Edition [View article]
Jacob, not sure there is a consensus on what is a double dip. I think housing has another 10-20% to go and we can be in a period with -1 to 1% inflation. But GDP is stabilized and banks are well capitalized. If a double dip is another collapse of unemployment to 15%, it does not look like it is going to happen.
And remember, banks have a self healing process with the PTPP earnings and the current loans are great (and the bad ones processed or in process)... another leg down is not like 2007
Be Greedy When Others Are Fearful: Francis Chou Edition [View article]
They also changed some key words, "ignores some of these potential negative events" it should read instead "Francis Chou conveniently lists some of these potential negative events"
The whole editing makes it looks like it that I was taking attribution and criticizing his point of view. Bizarre.
Be Greedy When Others Are Fearful, Wells Fargo Edition [View article]
I did not say amazed, I said surprised :) Check Wells Fargo's cost of funds and pre-tax pre-provision earnings, intangibles sometimes are very tangible.
And M2M accounting of loans for banks? One of the stupidest ideas around. Let's give Mr Market control of our financing sytem precisely at the time when he is being a maniac.
Charting Banking XIII: History of Bank Failures [View article]
Actually that is impossible because we have fewer banks today I think in the order of 4,000. Most estimates I have seen put the number below 1000 (and those were in March 2009) that is still a big number but nowhere near to the S&L crisis.
Be Greedy When Others Are Fearful: Francis Chou Edition [View article]
"the Association of Financial Guaranty Insurers said in a Sept. 2 letter to Bank of America Chief Executive Officer Brian T. Moynihan. Ambac Financial Group Inc. and Assured Guaranty Ltd. are members, and the group said repurchases may total $10 billion to $20 billion. "
Bruce Berkowitz on Financials [View article]
variantperceptions.wor.../
Bruce Berkowitz on Financials [View article]
I agree with all what what you say about Wells, but it has nothing to do about the depth of the current credit issues and the numbers show that the credit issues are improving.
The Market Is Warming to Shipping Sector on Better Fundamentals [View article]
Be Greedy When Others Are Fearful: Francis Chou Edition [View article]
Be Greedy When Others Are Fearful: Francis Chou Edition [View article]
Be Greedy When Others Are Fearful: Francis Chou Edition [View article]
If a double dip is another collapse of unemployment to 15%, it does not look like it is going to happen.
And remember, banks have a self healing process with the PTPP earnings and the current loans are great (and the bad ones processed or in process)... another leg down is not like 2007
Bruce Berkowitz on Financials [View article]
Be Greedy When Others Are Fearful: Francis Chou Edition [View article]
The whole editing makes it looks like it that I was taking attribution and criticizing his point of view. Bizarre.
Here is the original variantperceptions.wor.../
Be Greedy When Others Are Fearful: Francis Chou Edition [View article]
Be Greedy When Others Are Fearful: Francis Chou Edition [View article]
Be Greedy When Others Are Fearful, Wells Fargo Edition [View article]
Be Greedy When Others Are Fearful, Wells Fargo Edition [View article]
And M2M accounting of loans for banks? One of the stupidest ideas around. Let's give Mr Market control of our financing sytem precisely at the time when he is being a maniac.
Charting Banking XIII: History of Bank Failures [View article]
Sun Bancorp: Wilbur Ross as Phoenix Investor [View article]