Seeking Alpha

Bloomberg's 10 worst financial CEOs for upholding shareholder value: Vikram Pandit (C), Walter...

Bloomberg'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).
Comments (23)
  • rick flair
    , contributor
    Comments (369) | Send Message
     
    wow, top ten skmbags of america. in related news, piano wire sales reach all time highs this fall.....
    5 Jun 2012, 06:59 PM Reply Like
  • Ray Merola
    , contributor
    Comments (3158) | Send Message
     
    Not sure that Stumpf from WFC belongs in the same company.

     

    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.
    5 Jun 2012, 07:22 PM Reply Like
  • gh1616
    , contributor
    Comments (452) | Send Message
     
    Agreed Ray,

     

    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
    5 Jun 2012, 07:38 PM Reply Like
  • HoeTamer
    , contributor
    Comments (186) | Send Message
     
    They left off Aubry McClendon.
    5 Jun 2012, 07:23 PM Reply Like
  • katgod
    , contributor
    Comments (853) | Send Message
     
    Agree Ray, and I am not sure what Bettinger of Schwab did badly either but please if someone knows enlighten me.
    Aubry is not in the financial business.
    5 Jun 2012, 07:27 PM Reply Like
  • HoeTamer
    , contributor
    Comments (186) | Send Message
     
    I included McClendon because he used CHK as his personal bank to finance his other personal interests.
    5 Jun 2012, 07:31 PM Reply Like
  • Tack
    , contributor
    Comments (12962) | Send Message
     
    And, in 2002, all the top energy/utility executives were all "bad" CEO's when the market panicked after Enron.

     

    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.)
    5 Jun 2012, 07:31 PM Reply Like
  • gh1616
    , contributor
    Comments (452) | Send Message
     
    Exactly!! Well said Tack!!
    5 Jun 2012, 09:01 PM Reply Like
  • Snoopy1
    , contributor
    Comments (1107) | Send Message
     
    You and I are on the same page Tack.

     

    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?
    10 Jun 2012, 03:35 PM Reply Like
  • Tack
    , contributor
    Comments (12962) | Send Message
     
    Snoop:

     

    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.
    10 Jun 2012, 03:45 PM Reply Like
  • murrayk
    , contributor
    Comments (15) | Send Message
     
    I am very long in aflac and have no quams
    5 Jun 2012, 08:07 PM Reply Like
  • Eightball
    , contributor
    Comments (134) | Send Message
     
    I can't stand the bank ceos (despite being a major (for me!) shareholder in several), but how did BBT's guy get on there?

     

    And where is Moyihan on this list? He should be number 1!
    5 Jun 2012, 08:19 PM Reply Like
  • gh1616
    , contributor
    Comments (452) | Send Message
     
    murrayk......agree, no qualms either. Just took a position, its too cheap. 6x $6.54 for '12 & 24% ROE, very little debt, & $8.86 free cash flow. Whats not to like, & they have had plenty of time to work through those RBS debentures as well. We'll probably find out Buffett is buying, sure fits the Ben Graham model.
    5 Jun 2012, 09:12 PM Reply Like
  • fkhambatta
    , contributor
    Comment (1) | Send Message
     
    I am surprised that Morgan Stanley's James Gorman is not on the list especially after botching up the Facebook IPO. The stock is in the gutter but he seems to have made out fine.

     

    Fcube
    6 Jun 2012, 12:33 AM Reply Like
  • wvcrosby
    , contributor
    Comments (7) | Send Message
     
    Kelly King (BBT) should not be on this list. From what I know, I would question whether John Stumpf just be included also. The author of this article knows nothing.
    6 Jun 2012, 12:41 AM Reply Like
  • DeVeaux1960
    , contributor
    Comments (7) | Send Message
     
    Bloomberg should feel quite at home writing about "the 10 worst" of anything, as far as I'm concerned.
    6 Jun 2012, 12:41 AM Reply Like
  • guest2
    , contributor
    Comments (15) | Send Message
     
    What does zero interest rates and a flat yield curve do to insurance stocks? (Aflac)
    6 Jun 2012, 02:16 AM Reply Like
  • gh1616
    , contributor
    Comments (452) | Send Message
     
    Challenges with their fixed income portfolios no doubt. But, I believe this is priced in trading near their historical low valuation. When times are normalized AFL is a cash machine. And $8.86 in free cash flow now isn't chump-change
    6 Jun 2012, 09:26 PM Reply Like
  • remurraymd
    , contributor
    Comments (2287) | Send Message
     
    Vikram Pandit should be taken off he worked for $1/year when (C) was snared in the generational crash bottom of the financials when the S&P hit a low of 666. Put Aubrey McClendon of (http://bit.ly/AeGhcV) running his own private slush hedge fund around his CEO position at the top of the list instead. What a sleazy guy.
    6 Jun 2012, 05:08 AM Reply Like
  • rdemanna
    , contributor
    Comment (1) | Send Message
     
    Kelly King should be on a list of the TOP ten CEO's for increasing shareholder value. Maybe that's how he made this uneducated, almost random compilation. He doesn't maintain the value very well.
    6 Jun 2012, 10:20 AM Reply Like
  • MadAsHellAnd
    , contributor
    Comments (207) | Send Message
     
    Tonight's bedtime prayer, from Maurice Raymond "Hank" Greenberg:

     

    "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)
    6 Jun 2012, 11:23 AM Reply Like
  • Business Economics Analyst
    , contributor
    Comments (2565) | Send Message
     
    ridiculous, whoever compiled that list for bloomberg doesn't have any idea what shareholder value is. I guess it shows why opportunties exist for outsized gains by intelligent investing.
    7 Jun 2012, 04:40 PM Reply Like
  • Phr3d
    , contributor
    Comments (209) | Send Message
     
    a defining moment in why 'the media' is so trusted at present..
    Well Said, Tack, thanks..
    7 Jun 2012, 10:33 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio:

|