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PlanMaestro

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  • Bruce Berkowitz on Financials [View article]
    OK; I am back from taking my kid to the 200 years Mexican celebration parade.

    Pee Dee, you seem like a smart man and it seems you have enough time to write long comments. Can you use a little of that time to check your facts first or at least stop being overconfident and use words like never?

    Banks are regulated institutions and their information is public. Banamex can be sold today at more than $25 billion. We are not talking about BBVA or Santander here so please stop changing the subject every time you are caught in an error.

    Banamex is a very successful and profitable institution. Its former head Medina Mora was mentioned in the short list to replace Chuck Prince. That reminds me of something.... where are those form 4s

    P 2009-03-03 2009-03-04 16:36:48 CITIGROUP INC C MEDINA-MORA MANUEL CEO 1,500,000 $1.24 $1,860,000.00 2,427,310 129.84% view
    P 2009-03-02 2009-03-04 16:31:07 CITIGROUP INC C HERNANDEZ ROBERTO director 6,000,000 $1.25 $7,500,000.00 6,000,000 119.20% view
    P 2008-11-13 2008-11-13 19:12:00 CITIGROUP INC C PANDIT VIKRAM S CEO 50,000 $15.15 $757,350.00 50,000 -49.16% view
    P 2008-11-13 2008-11-13 19:12:00 CITIGROUP INC C PANDIT VIKRAM S CEO 50,000 $13.63 $681,500.00 50,000 -43.51% view
    P 2008-11-13 2008-11-13 19:12:00 CITIGROUP INC C PANDIT VIKRAM S CEO 250,000 $9.45 $2,362,500.00 1,844,950 -18.52% view
    P 2008-11-13 2008-11-13 19:12:00 CITIGROUP INC C PANDIT VIKRAM S CEO 186,900 $9.52 $1,780,220.00 1,594,950 -19.16% view
    P 2008-11-13 2008-11-13 19:12:00 CITIGROUP INC C PANDIT VIKRAM S CEO 313,100 $8.92 $2,791,910.00 1,408,050 -13.65% view

    Yes, those insiders have not bought a single share mmmm.

    Pee Dee, I really do not have time to discuss every single Citibank crown jewel when you are not willing to do some basic research. And the fact remains that you have been unable to disprove that Citigroup three years into a recession is generating more than $1 per share in PTPP earnings and cash flow from operations.

    Wrong on GSTC, wrong on Citibank's earnings potential, wrong on insiders buying, wrong on Banamex value. Can we just please stop this?
    Sep 15 11:17 PM | 2 Likes Like |Link to Comment
  • More on the Gulf of Mexico and Deepwater Production [View article]
    With the new changes, things maybe will start to get "subprime AAA". But the previous standards were very conservative and these numbers include only PROVED reserves.
    Jun 4 10:23 AM | 2 Likes Like |Link to Comment
  • Banco Santander Brasil: Declining Asset Quality And Growing Headwinds Hamper Profitability [View article]
    No problem, enjoy.
    Aug 26 09:16 PM | 1 Like Like |Link to Comment
  • Gramercy Capital: A Graham Stock Wrapped in a Mystery [View article]
    That is a good question and I do not know the answer because I bought the common. There is a link in the fourth part ("loose ends") to the prefs prospectus

    variantperceptions.wor.../
    Sep 15 03:21 PM | 1 Like Like |Link to Comment
  • Why You Should Avoid These 5 Banks [View article]
    I do not know what is Glen trying to do with this (...). I do not even know what to call it. It is not research or substantiated opinion. Noise maybe?

    He used to be a smart guy and know his circle of competence. Then he got into AHR, DJSP, CCME, macro opinions, ... and we lost him.

    Glen, this is an intervention.
    Jun 7 06:21 PM | 1 Like Like |Link to Comment
  • Newcastle Investment: A Cheap Stock Ahead of Earnings [View article]
    Cash flow, cash flow, cash flow.

    NCT is cheap, but not as cheap as you imply. Plus you show no understanding of the industry sharing ratios that are heavily influenced by one time gains.
    Feb 18 02:43 PM | 1 Like Like |Link to Comment
  • Ensco, Pride Merger: A Match Made in Heaven [View article]
    Toby, do you really see benefits of being larger in this industry? What are those?
    Feb 8 12:30 PM | 1 Like Like |Link to Comment
  • Portfolio Results; Learning From Past Mistakes [View article]
    Jae, we have not talked much lately but that does not mean I am not keeping track of your progress, copying some of your ideas, and cheering your successes.

    There is an old interview where you said that managing money was not one of your goals. Also I remember thinking that time that you probably were going to change your mind: you had the character and the work ethic, you just needed the self confidence. I am glad you found it and that others have recognize your capabilities.
    Feb 3 06:24 PM | 1 Like Like |Link to Comment
  • Bruce Berkowitz on Financials [View article]
    Banamex? it just shows once again that you do not know how dominant and profitable it is. A safe financial group with $14B in equity with those characteristics could easily sell at 2x BV, I wanted to be conservative with the $25B.

    Let's keep my final word short: the fact remains that you have been unable to disprove that Citigroup three years into a recession is generating more than $1 per share in PTPP earnings and cash flow from operations. The rest is just words.
    Sep 16 10:32 AM | 1 Like Like |Link to Comment
  • Bruce Berkowitz on Financials [View article]
    Never say never, "Goldman Sachs, The Culture of Success" by Lisa Endlich former VP and foreign exchange trader at.... Goldman Sachs. She got full cooperation from GS an even interviewed John Weinberg so get your facts straight and stop the innuendo.

    Regarding #3 Banamex at the top of my mind. #1 and #2 again just innuendo. You should check Yes Prime MInister on character assassination.
    Sep 15 02:08 PM | 1 Like Like |Link to Comment
  • Bruce Berkowitz on Financials [View article]
    "The firm's eight partners had not sold any of their 10 percent holding in the original trust, and by the end their extensive legal costs coupled with the trading losses amounted to about $13 million. In the aftermath, the firm's capital was reduced to $5 million by 1936, a devastating blow considering that the partnership capital had been $4.5 million thirty years earlier. With the Depression and World War II, it would take decades to rebuild the firm's business, and it was not until the mid-1950s that the firm's capital would again rise above $10 million"

    Never say never.
    Sep 15 01:05 PM | 1 Like Like |Link to Comment
  • Bruce Berkowitz on Financials [View article]
    I do not dispute Citigroup past issues, I am discussing their present. A bank cash flow is very relevant 3 years into a recession. If those loans were really that bad should not C be getting a large interest income hit? Nowhere to be seen.

    An regarding GSTC, an investment bank reputation is their equity (check Drexler, Salomon and several other examples). And BTW, Citigroup is much, much more than an investment bank.
    Sep 15 12:43 PM | 1 Like Like |Link to Comment
  • Bruce Berkowitz on Financials [View article]
    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.
    Sep 14 07:13 PM | 1 Like Like |Link to Comment
  • The Market Is Warming to Shipping Sector on Better Fundamentals [View article]
    Good article Jeffrey, hard to understand GSL's price given the recent CMA CGM performance
    Sep 10 06:32 PM | 1 Like Like |Link to Comment
  • Bruce Berkowitz on Financials [View article]
    Thanks Asif, will check your recommendations. You might want to check my articles on some other interesting banks with insider buying
    Aug 30 01:23 AM | 1 Like Like |Link to Comment
COMMENTS STATS
111 Comments
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