State Street Corp. (STT)
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- General Discussion on STT
- The Facts Behind the Coming Congressional Mortgage Bailout Bill [view article]
- To Bail or Not to Bail? - Fast Money Recap (9/29/08) [view article]
- 20 Top High-Dividend Growth Stocks [view article]
- Wall Street Breakfast: Must-Know News [view article]
- More On Banking Subprime Fallout [Housing Tracker] [view article]
- What Should an Investor Do in Times of Panic? [view article]
- Friends Don't Let Friends Buy Stocks - Look at State Street [view article]
- Resolution Meeting - Fast Money Recap (9/18/08) [view article]
- Thursday Options Update: MS, STT, LM, NAL, GGP, PLD, KG, DO [view article]
- PFI: PowerShares Dynamic Financials Outperforms Its Peers [view article]
- Dividend Analysis: State Street Corporation [view article]
- Bank Executive Compensation and the Bailout [view article]
loading ...Recent STT Articles
- To Bail or Not to Bail? - Fast Money Recap (9/29/08)
- More On Banking Subprime Fallout [Housing Tracker]
- What Should an Investor Do in Times of Panic?
- Wall Street Breakfast: Must-Know News
- Resolution Meeting - Fast Money Recap (9/18/08)
- Friends Don't Let Friends Buy Stocks - Look at State Street
- Thursday Options Update: MS, STT, LM, NAL, GGP, PLD, KG, DO
- Putting on the Moves - Fast Money Recap (9/15/08)
- 20 Top High-Dividend Growth Stocks
- PFI: PowerShares Dynamic Financials Outperforms Its Peers
- Full List of Articles »
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20 Top High-Dividend Growth Stocks [view article]
most very low yields. check out FRO. ReplyThe Facts Behind the Coming Congressional Mortgage Bailout Bill [view article]
Anybody who thinks that the Federal Reserve or government regulators are ``on their side``, also probably believed that `dot com` and housing prices were going to keep `going up` forever.I won`t say anything about the government regulators except that `by their fruit you will know them`, but the Federal Reserve is owned by the banks, so get a clue. The banks have a virtual `call option` on a hefty chunk of our labor and wealth provided to them by the Federal Reserve. In other words, even if they lose money, their downside is limited, just like it was for the income-challenged people who took out low-up-front-cost loans for housing that they couldn`t otherwise afford, people who could live in a nice house for at least awhile and maybe even make a bunch of money on the deal `down the road`. It would be the fiduciary duty of anyone offered a deal like that to grab it and run, especially if they had children who had never had a chance `to live in a nice house in nice neighborhood`.
And who can blame the banks for taking us up on a similar deal? If the deal goes well, then they get `filthy rich`, if not, they get time to spend all the money OUR SYSTEM has tossed into their laps. Tough choice.
As we learned in `Quality Improvement Process 101`, the problem is never `the people`. The problem is always THE SYSTEM. Unless (and until) we fix THE SYSTEM, the same bad things will keep happening, over and over. The fault lies not with the borrowers and the banks wo profit from THE SYSTEM, but with our ancestors for letting this SYSTEM get set up, and with ourselves for letting a SYSTEM continue which incentivizes activities that lead to our own destruction.
First thing we need for our NEW SYSTEM is our own, debt-free U.S. Government currency, backed by all the real estate within the nation`s borders (of which property the U.S. government is the actual owner...`legal` owners are granted `legal exclusive right of use` by an `actual` owner, valid until such time as the actual owner changes its mind or becomes unable to defend its ownership claim). Since banks will no longer be able to print the our new currency to cover their losses, and since we will no longer be dependent upon banks to maintain a flow of credit, banks should become more conservative in their lending and speculation. We should also get rid of FDIC insurance to further encourage such a change.
While we are at it, we should replace all income-related taxes with a 1/2% electronic transfer (aka debit) tax which will be avoidable by the use of cash. This will not only rid us of the IRS (saving us the billions of dollars currently spent on `tax reporting`), it will also end the current system`s penalization of work and entrepreneurism, and release for investment purposes untold billions currently spent on `tax avoidance`. This debit tax will not only be more of a tax on wealth than labor and be (arguably) voluntarily-paid, it will also act to discourage excessive short-term market speculation and will raise enough revenue to begin paying off the National Debt, a debt which will no longer be growing once we have switched over to our own debt-free currency. We will also apply any Federal Reserve dollars that are swapped for our new currency toward paying off the National Debt.
Since the U.S. government has, by granting `exclusive rights of use`, denied everyone free access to all of its property, and since the U.S. government has not compensated everyone for that `taking`, we should elect a Congress that will pay every legal U.S. resident `Adequate and Equal Just Compensation for Denial of Free Access to U.S. Property`, compensation which WILL FUNCTIONALLY REPLACE ALL FORMS OF PERSONAL AND CORPORATE WELFARE, SUBSIDIES AND BOONDOGGLES, including the rescindance of Federal Minimum Wage laws and a phase-out of the Social Security system. (Once everyone is getting `Denial of Free Access` compensation their whole lives, it would seem arguable that the vast majority of people will be able to save enough to be able to comfortably cease working at some point in their lives.)
As a starting point, $1000 per month (of the new, non-Federal-Reserve, non-Debt-Money, as described above) should be paid to every legal adult resident (compensation of minors should, of course, be held `in trust` to avoid incentivizing baby factories). Since everyone gets the same amount, this compensation plan is not wealth redistributive, but will give the least wealthy the biggest advantage (in terms of monthly percentage increase of wealth) and a better chance to `catch up` than the current system that keeps the rich getting relatively richer through good times and bad.
Once this NEW SYSTEM gets going, we should expect people in other countries to insist that their governments either emulate our NEW SYSTEM, or else apply for U.S. statehood as The Republic of Texas did in 1845.
Benefits of the new system should include better childcare, less poverty, less crime, cheaper government and a safer world. All in favor, help spread the word. Reply
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Dividend Analysis: State Street Corporation [view article]
ryefool - STT is not solely in the business of managing pensions. back office administration for financial companies is a HUGE business and they control this industry. ReplyDividend Analysis: State Street Corporation [view article]
Until State Street settles the various bond fund lawsuits, I don't know how anyone can recommend the stock. If your business is managing pensions and you have numerous conservative companies suing you for mis-management of pensions then how can it be a "buy." In addition, the amount involved in the lawsuits would seem relatively minor but maybe State Street is not settling because they have less liquidity than they claim. ReplyBank Executive Compensation and the Bailout [view article]
Nevermind the fact that this entire fiasco was orchestrated by the very people who will profit. They created it ( with fill knowledge of the consequences I might add), managed it, made bundles of cash, and then skipped out leaving the poor slobs with pensions and foreclosures holding the bag (as has become the norm for corporate America). Let's also not forget that our ever-faithful President changed the bankruptcy laws just in time to prevent anyone from weaseling out from under their bad loans. And by 'bad' I do mean rotten to the core... I happen to have been one of the drones helping to crank out the loan documents and became sufficiently disgusted to resign long ago. I said it would happen and it did, but you'd have thought I was crazy to hear me relay this to my colleagues back in '04. They certainly thought so. ReplyDividend Analysis: State Street Corporation [view article]
STT is a great example of why dividend growth is much more important than dividend yield. ReplyState Street Corp Should Be Falling, not Rising [view article]
this author should be fired ReplyLarge 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
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
Mid-Caps Are Outperforming Large- and Small-Caps [view article]
Any thoughts on the talks of a central clearing house for Credit Derivatives? CBE could be a huge beneficiary of this move, www.greenfaucet.com/th..., which will take place in the fall. ReplyLarge 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
Large Banks' Net Income History [view article]
FY 1 is the first prior fiscal year. FY 2 is the second prior fiscal year. FY 3 is the third prior fiscal year. ReplyGuy
Large Banks' Net Income History [view article]
I don't get the FY* headings either, unless 2007,6,5? ReplyLarge Banks' Net Income History [view article]
Please explain the headings FY1, FY2, and FY3. ReplyLarge Banks' Net Income History [view article]
To all Banks and Broker Firms: just FIRE SALE from your books all structure finance vehicles i.e.: CDO-ABS-MBS-SIVs if you want to live period! Reply