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Adam Smith XIII

Adam Smith XIII
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  • Cullen Frost Bankers: Slow Loan Growth And High Costs [View article]
    Nice read. I agree with some of your valuation points but think you've missed two things that require further explanation. 1. You compare CFR's loan growth rate to peers in that you feel CFR's loan growth is not up to par. CFR does not do mortgage loans or credit cards, while most close competitors do. 2. In Texas, many businesses are cash-flowing so quickly that they do not need loans. And if they do need loans, the business has leverage to get the best rate from these banks whom are more than willing to bend over backwards. What you will get from CFR is slow and steady growth from a company that's been around a long time and will likely outlast the bubble banks. Remember the tortoise and the hare?
    Jan 24 01:55 AM | Likes Like |Link to Comment
  • Junk Bonds Offer Attractive High Yields In A Low Interest Environment [View article]
    Look at total return on PHT. Nuff said.
    Oct 26 05:21 PM | Likes Like |Link to Comment