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Bloomberg's 10 worst financial CEOs for upholding shareholder value: Vikram Pandit (C), Walter...
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Tuesday, June 5, 2012, 6:55 PM ETBloomberg's 10 worst financial CEOs for upholding shareholder value: Vikram Pandit (C), Walter Bettinger (SCHW), Frederick Waddell (NTRS), Thomas Wilson (ALL), John Stumpf (WFC), Daniel Amos (AFL), Kelly King (BBT), Joseph Saunders (V), Jamie Dimon (JPM), Lloyd Blankfein (GS).
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Wells didn't do the risky mortgages, didn't ask for a bailout, didn't play the Wall Street derivatives game, and has emerged from the 2008 meltdown controlling most of the U. S. mortgage market.
WFC earnings resumed their upward momentum.
This is a sandbag shot on Amos & Waddell too. And while I get the Dimon shot he is still an outstanding banker in my opinion. I wouldn't bet against Dimon long term. NTRS is one of the best wealth managers, & AFL is recovering from the Japan natural disaster like many other companies. Its a ridiculous list
Aubry is not in the financial business.
And, in 2000, all the tech CEO's were "incompetent" when the dot-com bust ruined the market.
These reports are an exercise in silliness.
(Funny, being a deep value investor, I'll check out the "losers" to see where value may lie. The energy group made me a bundle in 2003.)
Many are saying financials are "uninvestable". I bought a position in GS at $94 (.75 tBV) last week. Unless one thinks they can't make their cost of capital over time, GS is a bargain for those with a 2-5 year time horizon.
What, if anything, do you like at current levels?
Well, as within the U.S. banking sector, I have a variety of common and preferred positions in BAC, C, RF, FITB, STI, and NYB.
However, my current favorite for future growth, presently, lies offshore: STD. I'm starting to sniff around ING, too.
And where is Moyihan on this list? He should be number 1!
Fcube
"Thank you Jesus, for the short memories of pigs and sheep. And on an unrelated note, God bless the financial writer who chose 2009 and later for the Bloomberg Hall of Shame PutzFest."
And if one were to include 2008, the list is long, but the financial CEO with the biggest bang might be the one that, oh, blew up the planet, perhaps? Alan-may-he-rot-in-hel... Greenspan.
(And hey, Timmy, Ben Shalom, Rubin, Summers, Clinton, B.Frank - you can stop stroking yourself. You all made that top ten too. Although not according-to-Hoyle "financial CEOs," as governmental czars they trump CEOs. Unless they're just their lieutenants)
Well Said, Tack, thanks..