streetTRACKS KBW Bank ETF (KBE)

All Comments on KBE

  • commenter
    Ames
    Tiedeman
    Aug 02 10:57 AM
    My Website
    Probe of Citigroup et al Could Hit Financial ETFs [view article]
    Good. Let Cuomo crate a buying opportunity. 36 months from now this sector will be fully priced and fully recovered. You buy a UYG when things look dismal. Reply
  • commenter
    GSL
    Aug 02 09:24 AM
    Probe of Citigroup et al Could Hit Financial ETFs [view article]
    UYG is the double long Banking, and SKF the double short - short the former or load up on the latter. Reply
  • commenter
    Rhett
    Aug 02 09:18 AM
    Probe of Citigroup et al Could Hit Financial ETFs [view article]
    Thieves! Bloody thieves!
    Citi, et al.. have the integrity of loansharks.
    Go Cuomo! You're doing the right thing.     Reply
  • commenter
    NY Observer
    Aug 02 09:02 AM
    Probe of Citigroup et al Could Hit Financial ETFs [view article]
    So the AG is going to follow the election playbook of Guiliani and Client #9. Reply
  • commenter
    STR
    Aug 02 02:14 AM
    Probe of Citigroup et al Could Hit Financial ETFs [view article]
    are you short on these etfs? Reply
  • commenter
    STR
    Aug 02 02:13 AM
    Probe of Citigroup et al Could Hit Financial ETFs [view article]
    are you short on these etfs?
    Reply
  • commenter
    STR
    Aug 02 02:09 AM
    Probe of Citigroup et al Could Hit Financial ETFs [view article]
    'pack a wallop'? wow how dramatic Reply
  • commenter
    friendlyjun
    Aug 02 01:30 AM
    On Ben Graham, Bank Stocks, Jason Zweig and Tom Brown [view article]
    I think you're being a bit unfair to Mr.Zweig. His point was that it's simply hard to value the financials' assets, which is true especially with all the derivatives and off balance sheet items. One was the reasons why Graham looked at NCAV was that current asset is easier to value than long term assets. Mr.Zweig mentions that real estate price is going down, but that's only to show how hard it is to measure what the real estate is worth, not as a rationale for avoiding financials in itself. Mr. Zweig has a point there, but I agree that he does put a bit too much emphasis on diversification. Graham said that diversification is useful only when there is positive margin of safety. With negative margin of safety, diversification would be useless. (As Graham points out with the example of the game of Roulette.)
    At the same time, using dollar cost averaging to an index fund would be one of the best way to invest for people who are too lazy (or have better things to do) to look up the companies' 10-k's.     Reply
  • commenter
    contrariwise
    Aug 02 12:04 AM
    Probe of Citigroup et al Could Hit Financial ETFs [view article]
    mikeg3 - a key contention of these investigations will be that these banks were touting these products with increasing intensity, foisting them on naiive investors, when they knew that the market for these securities was freezing up. They made claims that they knew to be false at the time they made them. I don't think the cases will deal with sales made when the markets were liquid or even when the banks thought in good faith the market had a temporary problem. They will focus on time periods when the prosecuters can PROVE that the banks LIED. If the investing public comes to believe that the markets are rigged then the markets will cease to function. Mark my words. Reply
  • commenter
    mikeg3
    Aug 01 10:50 PM
    Probe of Citigroup et al Could Hit Financial ETFs [view article]
    It's amazing how NY Attorneys General run for Governor by trashing major employers.

    Can you imagine the Governor of Michigan suing Ford or the Governator of California suing Disney?

    No one expected these auctions to fail, but hindsight is a wonderful thing.     Reply
  • commenter
    Ishortyou
    Aug 01 10:40 PM
    Probe of Citigroup et al Could Hit Financial ETFs [view article]
    Crooks have wrapped up with fraud CDO-ABS-MBS-SIVs also called structured finance vehicles, most of these wraps come from Banks and Broker Firms, they misled the market with this fraud and now they are paying the price! Reply
  • commenter
    Richard Shaw
    Aug 01 05:37 PM
    My Website
    Large Banks' Net Income History [view article]
    dick,

    Sorry. Can't give individual or position specific advice through this medium.

    There is not sufficient information in this article to determine what you should do with the stocks or their options.

    You or your advisor must dig into the data for CITI and the industry to make an informed guess about the future of CITI stock.

    As you know the market is quite fickle recently, but then with Leaps, you have the luxury of taking a longer view.

    It may be easier to prognosticate about a security representing basket of banks that about a specific bank, but even there the surprises keep coming.

    I have written several other articles about the banks that are published at Seeking Alpha and on my blog. Collectively they should be of more use to you than this article alone.

    Your broker most likely has reports from S&P or other major research sources which you should read as well. Then read all you can about the sector and CITI at Bloomberg, Wall Street Journal, Reuters and elsewhere.

    You may have a long-term winner or a loser, but if you are a winner, you may experience periods of great pain on the way to victory. You need a well reasoned logic for being in a position when it goes against you in order to stay in.     Reply
  • commenter
    bonanza60
    Aug 01 05:00 PM
    Financials Have Bottomed? Readers Say We're Nuts [view article]
    Wake me up when the banks have written off CDO's and off balance sheet SIV's to 10-20 cents on the dollar. Right now all they are doing is playing "hide the sausage" with this crap and not very well.

    Until, I trade what I see, not what I hope.

    I am in the mtg cap mkts and regardless of what Brown says, this is definatley not over.

    This is confirmed by a memo today from Chase to its mortgage brokers telling them they are exiting the jumbo business because it does not come with govt backing:

    CHASE JUMBOS ARE A GONER .


    Friday, August 1, 2008

    Today we are announcing the elimination of all Non-Agency/Jumbo Fixed and ARM (Amortizing and Interest Only) product offerings within our Wholesale Lending Business. We have made this decision based on a variety of reasons.

    First, we have seen a dramatic reduction in Jumbo volume levels over the past six months. To a point, it has become a very small percentage of our overall business. Secondly, Capital Markets continue to exhibit no interest in this product, as it sees safer and more liquid products such as Fannie Mae, Freddie Mac and Ginnie Mae Mortgage-Backed Securities as better investments. Thirdly, our delinquency performance on these loans has been substantially worse than both our expectations and standards allow. Due to all of these factors, we feel it is in our best interest to suspend these products at this time.

    It has been quite a tumultuous time in mortgage banking for the past 12 months. In fact, we are in the midst of the worst mortgage and real estate crisis in American history. Despite this, Chase continues to remain unwavering in its commitment to both mortgage lending, and specifically the Wholesale business.

    We will closely monitor changes in this offering, including performance and salability in Capital Markets, calibrate the product set as appropriate and possibly re-introduce it in the future.

    Thank you for your business and your continued loyalty to Chase.

    Sincerely,

    Rod Brace - Full Sig     Reply
  • commenter
    dick black
    Aug 01 03:31 PM
    Large Banks' Net Income History [view article]
    how can I use this information to decide whether to invest or bail out?

    currently just above water in jan 2010, $20 and $25 citibank options     Reply
  • commenter
    Richard Shaw
    Aug 01 10:53 AM
    My Website
    Large Banks' Net Income History [view article]
    mikeg3 and Just Some Guy:

    Based on your questions, I have added the following to the end of the post on our site:

    Post Script:

    We received a request to clarify the meaning of FY1, FY2 and FY3; and a suggestion that if it may refer to history and could alternatively be labeled 2007, 2006 and 2005.

    FY 1 is the first prior fiscal year.
    FY 2 is the second prior fiscal year.
    FY 3 is the third prior fiscal year.

    It would be inappropriate to use 2007, 2006 and 2005, because that would tend to suggest a calendar year basis for the data versus a fiscal year basis. Additionally, different companies have different fiscal years.

    For example, if one company has a fiscal year ending December 31 and other has a fiscal year ending June 30, then as of July 2008, the first company is in fiscal 2008 and the second company is in fiscal 2009.

    Note that for GAAP purposes the "year" number (e.g. 2007 versus 2006) is based on the date on which the fiscal year ends, whereas for tax purposes the year number is based on the date on which the year begins.

    For these reasons first, second and third prior fiscal years as FY1, FY2 and FY3 is more accurate, and is the convention for stock data reporting.     Reply
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