Don't be fooled by the recent bounce in financial stocks, Louis Navellier warns. "High...

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stevepoddy Comments (54)
 
All sold already,but BAC.Just waiting,no long.
14 Sep 2010, 06:41 PM Reply Like

1980XLS Comments (2111)
 
He forgot too mention the sense of entitlement for obscene compensation that the Banksters have.
They still don't get it. Nobody is worth tens of millions playing with other peoples money. The party is over. Get over it and move on. After what happened, I can't believe they are still in denial as if things can just go back to the way they were.
If a million or so is not enough, go start a hedge fund or trade with your own money and assume the associated risk like an adult.
14 Sep 2010, 06:43 PM Reply Like

j_remington Comments (1343)
 
Shorts have the story correct. However, renewing the selling in shares of big banks will be difficult. I am neutral on banks.
14 Sep 2010, 07:06 PM Reply Like

7footMoose Comments (2242)
 
Let me just say this, the economy will never come back until the banks are actively lending again. The banks will not be actively lending again until there is more clarity from the Administration about how much real regulation FinRag will bring. You can hate them for what has happened but the economy needs to banks to succeed in order for the economy to succeed.
14 Sep 2010, 07:37 PM Reply Like

davesnothere Comments (479)
 
We can't even have mark to market so how bad are the balance sheets?

Bac said nom more m and a. Not a good sign either.
14 Sep 2010, 07:46 PM Reply Like

7footMoose Comments (2242)
 
With literally millions of loans on their books a true mark to market was never possible. A very nice to have I agree but impossible to implement. The largest banks would have had to employ legions of accountants and CPA's to attempt anything meaningful.
BAC is not acquiring because of the implications of FinRag. This too is a good thing. Maybe they can finally concentrate their efforts on properly managing what they already own.
14 Sep 2010, 07:57 PM Reply Like

Wyatt Junker Comments (4505)
 
The government can't even meet its constitutional requirement for an Oct. 1st national deadline to pass a budget. How do you think they'll give oversight here, to banks, beyond a populist SEC Goldman Sachs suit?
14 Sep 2010, 10:27 PM Reply Like

Scootger Comments (228)
 
This guys analysis of how financials have traded over the past q is extremely useful----NOT. Last I checked the bank stocks traded up about 500% or more from the lows while Forclosures were ramping. Buy the dip, if you get lucky and get a larger correction.
Someone should re-write his newsletter with a hint of fundamental analysis.

Puke your financials, I am bidding below.
14 Sep 2010, 08:07 PM Reply Like

Burning Madolf Comments (200)
 
A little off topic, but anyone with any info on JPM's on-line banking being down now for 24 hours and running?
14 Sep 2010, 09:14 PM Reply Like

George Fisher Comments (541)
 
Macquarie Bank MQBKY.PK is an interesting study in diversified fin services - retail/commercial bank, consumer loans (mainly auto), investment banking, securities broker, wealth management from gov't mandated employer-funded retirement contributions, excess capital, stuggling to lower overall compensation.

Oh, by the way, they are headquartered in Australia.
14 Sep 2010, 11:47 PM Reply Like