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- Wall Street Breakfast: Must-Know News [view article]
- Financials: This Picture's Worth a Thousand Words [view article]
- Wait for August FFIEC Call Reports Before Taking a Long Position in Banks [view article]
- Wachovia CEO's Insider Buying Is Another Indication of a Bottom [view article]
- Wachovia/Golden West: The 'True Story' [view article]
- Tuesday Options Outlook: EMC, XLE, USO, GS, WB, C, CROX, LOGI [view article]
- Financials Are Having a Dead Cat Bounce [view article]
- Making Sense of Wachovia's 27% Bounce Amid Record Losses [view article]
- Four Banks' Pragmatic Mortgage Resolution [view article]
- Financial-Dip Buyers Forget To Ask What's Next [view article]
- The Facts Behind the Coming Congressional Mortgage Bailout Bill [view article]
- Wachovia's Rally & Oil's Decline: Rotation from Energy to Financials? [view article]
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- Wall Street Breakfast: Must-Know News
- Financials: This Picture's Worth a Thousand Words
- Wachovia/Golden West: The 'True Story'
- Wait for August FFIEC Call Reports Before Taking a Long Position in Banks
- Wachovia CEO's Insider Buying Is Another Indication of a Bottom
- Four Banks' Pragmatic Mortgage Resolution
- Making Sense of Wachovia's 27% Bounce Amid Record Losses
- What Do Wachovia's Earnings Say About Financials?
- Financials Are Having a Dead Cat Bounce
- Wednesday Outlook: No Rhyme or Reason
- Full List of Articles »
in NC null
Financials: This Picture's Worth a Thousand Words [view article]
Logic and common sense dictates that Fannie Mae and Freddie Mack are a farceand that the congressmen and senators who created and support these hybrid
corporate creatures should be personally responsible for the financial deficits
that have and will continue to grow and multiply to sums incomprehensible and
will constitute the major portion of our national debt which like pi is never ending.
Every day will be a sad day in the USA from now through eternity from a $
standpoint. Our only near hope is T. Boone Pickens in the White House.
CC Sherrill Lenoir, NC. 828 758 1688 ccsherrill@charter.net
Reply
Financials: This Picture's Worth a Thousand Words [view article]
Steele's plan to conserve cash (ie...cut all expenses that do not have a direct benefit to one of the core three "banking" businesses) for the remainder of 08, is the crux of the company not having to raise capitol to cover markets.If the core banking businesses can continue to grow at 12 percent a year (building deposits -retail, getting rid of commercial loan only customers - commercial, and growing the wealth mgmt business) then they can dilute the biggest part of the mortgage loans this year and be on top of their expenses and building back the core banking businesses by the end of Q1 for 2009.
Steele knows that this would position them to A) claim to the street that they have weathered the storm and a higher multiple on valuation is warranted B) be positioned when the higher valuation comes in Q2, to then raise the capitol needed to become a growth company again, and C) get to the higher valuation and/or begin courting international suitors (sell company or partner out a 1/3 share of the company) D) deem the company better off independent and begin raising the dividend to levels competing with banks that have weathered the storm.
Yes, I am bullish on the mid-level banks in the long term (36 mos) and will be adding to my portfolio during the major sell offs (under 12.00) and selling the run ups (17.00+) for the next three quarters.
Up a 151 percent dealing in financials both of the last two quarters by knowing the implications of the macro events, while applying them to the market psychology of the short term.
Reshuffle and deal 'em again! Reply
Wall Street Breakfast: Must-Know News [view article]
RightinSanFranciscoYou say we can't get from here to there without nuclear? I disagree! Until we can dispose of the waste already produced we should not create more. The negative will never succeed. We should be building wind turbines at the rate we produced tanks in WWII. If the government had an energy policy that would reduce our dependence on foreign energy suppliers that would be helpful.
We can do it but we have to have direction. The only one who seems to have a clue is T. Boone Pickens.
We need to go to wind power for electrical production and use the freed up natural gas to fuel our vehicles. I recently returned from Thailand and they have Compressed Natural Gas (CNG) refiling stations in most provinces in their country. This is equivalent to Texas having a CNG refiling station is every county. They are converting all types of vehicles large trucks, small trucks, buses and private cars. I would guess that over 100,000 plus vehicles have been converted. They are also using E20 at all refilling stations. If third world country's can do it why can't we? We should be ashamed out ourselves and out country. If we don't want to become a looser on the world stage we must take strong action. We should have an Apollo project for energy.
And always remember what your mother told you, that can't never did anything. Reply
Wall Street Breakfast: Must-Know News [view article]
To User197935, the problem arises when ARMs are adjusted sharply upward. Usually the homeowner was lulled into thinking if this happened, they could either refi or do a Home equity line to take up the slack until their income caught up. Needless to see with the air pushed out of the valuation balloon, this can't be done. Valuation decline slammed the escape hatch. Voila delinquency! ReplyWall Street Breakfast: Must-Know News [view article]
Voters prefer democrat's energy policy over republican's policy by a 42 to 22 edge, according to your nameless poll. Other than doing nothing, and opposing all intelligent steps to benefit energy users, exactly what is the democrat's energy policy? Your poll report is pure BS. Democrats have no energy policy! Democrats screw up everything they touch! ReplyMontreal
Wait for August FFIEC Call Reports Before Taking a Long Position in Banks [view article]
I am in the same situation as Norm, so I understand. But when all this mess will be cleaned up there will certainly be some winners. I mean people will still need banks and will tend to go to safe/strong institution. The question everybody should ask now is 'who will be the winners? The time it will take to recover is less important as long as you keep receiving the dividend you need for living. Personnaly I put my bet on Bank of America. ReplyDwinnell
Wachovia CEO's Insider Buying Is Another Indication of a Bottom [view article]
the key sentence here is "As a distant secondary indicator, I like to keep tabs on the insider buying habits of key executives" ReplyWall Street Breakfast: Must-Know News [view article]
can anyone explain to me why the drop in value of a property would translate to a foreclosure, which seems to be more a function of the ability to service the existing mortgage debt. I can understand an increase in delinquency/foreclosur... rate in an job stressed economy which affects the ability to meet payments. But absent that the value of a property declining to less than current value is affects asset value only. ReplyFinancials: This Picture's Worth a Thousand Words [view article]
Let em bleed some more. When there's blood in the street, buy real estate. hallcountyforeclosure.... ReplyWachovia/Golden West: The 'True Story' [view article]
Great, great article. Should be enlarged and framed and hung on the wall of all banks.Terrific work. Reply
Wachovia/Golden West: The 'True Story' [view article]
My, hindsight is usually 20-20, but your view is far worse than the reality of the deal. But, you seem to enjoy mocking & kicking those who are already down. Look forward, not back. What do you know about how many of those GDW mortgages are really problem credits? You hear and see a lot of macro-talk about the portfolio. But how much of it is bad, and what percentage actual loss is expected to be realized at the end of the road? ReplyWall Street Breakfast: Must-Know News [view article]
Voters prefer Dem Energy policy? Something is wrong here. Taxbigot is absolutely right but he forgot their other policy; force oil producers to drill on all leases even though most of them have no oil. Do they realize how much it costs to drill. Here in my area [ Baaken Shale] it costs at least $5M. You don't drill many dry holes at that price. We never get a good energy policy because of partisan politics. Normthefedup has the right idea; Vote the bums out. But replace with what?Reply
Pseudonym
Financials: This Picture's Worth a Thousand Words [view article]
Jim Rodgers said over 1 year ago that financial stocks (the ones the survive) will all be around $8 per share before the bottom is in.He said this when the were all at record levels!
Now those that are still living are looking at sub $10 pricing...
I will buy when the prices fall below $10 as banks are not a fad; the good ones will be here forever. Reply
Wall Street Breakfast: Must-Know News [view article]
McCains off shore drilling proposal is too late for Americans to survive to-day.He was a Senator for 25 years. What has he accomplished in energy policy?None.Depending on carbon based economy in 21st century, is nothing but insanity. Most progressive countries who believe in innovation, are ahead of us in energy independent. Examples are Sweden, France and Brazil. Russia and MiddleEast want us to be Petroleum dependent (including our some Republican friends).Definition of insanity is doing the same thing but expecting different results. I think either we innovate or vegetate. There is no other alternative solution. ReplyWachovia/Golden West: The 'True Story' [view article]
It has been often said "Don't kick a man when he is already down" Good advice for the case of all the down and outs in this world. However, the members of the Board of Wachovia (and other similarly situated financial companies) are not down and out people. Not by any means. They still retain their swagger by and large. Perhaps, the klucks amongst the shareholders who naively stuck with their shares through the downdraft should pick up their self-respect and kick these high priced guys off the Boards of these ruined companies, if the Steels at thei helm of these companiers don't have the sense to do so. It is going to be a long uphill struggle before Wachovia can come back restored to health. In the meantime there may be more downdraft before the slow recovery. Reply