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Phr3d

Phr3d
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BAC, C, JPM, KO, RY, USB, WFC
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  • Wells Fargo upgraded at Sandler O'Neill, up 2% premarket [View news story]
    agenda much?
    Sep 2, 2015. 08:15 PM | Likes Like |Link to Comment
  • Misconceptions About Banks (And A Glance At Wells Fargo) [View article]
    You fail to remember that WFC was able to severely cherry-pick from their brand new markets via Wachovia due to the fact that no one else was loaning mortgages at all (which is to say that they still had gobs of liquidity post Wachovia purchase and astounding loss reserves). This resulted in a balloon profit that the street first said was not possible, then not sustainable. I presume the pundits were not thinking in a ten year window, as WFC's expense and write-off ratios are the jewel of the sector for the seven years since those particular doom predictions.

    Would appreciate Any clarity in your statement regarding the "huge amount of distressed properties off the foreclosure books", as it is not "well known" to me or the few friends that I have. I hope you are not referring to the loans that they re-wrote to Avoid foreclosures and also satisfy the guv'm't requirements at the time, as those have turned out rather well, see continuing LLR release 2008-2015.

    But I don't hope to sway your opinion any more that you do mine, good luck!
    Sep 2, 2015. 07:57 PM | Likes Like |Link to Comment
  • Misconceptions About Banks (And A Glance At Wells Fargo) [View article]
    You need to include more NINJA history when you broadly paint the industry, IMHO, but the short and sweet was that, for this horrible loan you cherry-pick, every bank was forced to make similar loans to cover the costs of the truly hopeless loans that the Guv'm't required.
    Yet Citi was in total free-fall and WFC was not close to that condition, as they were able to stay with their previously refused bid for Wachovia, rather than the Guv'm't basically Giving it to Citi (and show a profit). I cannot begin to follow your jump from the loan you mentioned to "that blows up his protest", as WFC simply sat on their TARP awaiting the day they were allowed to be rid of it, but we will obviously have to disagree.
    (and I humbly offer that we lost a great CEO in the process, I sure can't blame him for saying, "ahh, Phark this.." and moving on. I am willingly showing my Bias here).
    Sep 2, 2015. 07:39 PM | 2 Likes Like |Link to Comment
  • Key Post-Earnings Observations And Opportunities: Alaska Air Group [View article]
    Sorry, Ray, somewhat off-topic:
    If you are not getting comments on your BoA article, it -may- be due to readers not allowed to comment (entire comment section is simply Missing). In my case it is obviously a change in the scripting required to allow that ability, but I've been unable to come up with the right combination, and other readers that are Careful of what they allow may see the same blocking from SA.

    Dunno what SA mgmt is up to with their site lately.. grrrr, says me..
    Aug 18, 2015. 08:31 PM | 1 Like Like |Link to Comment
  • Key Post-Earnings Observations And Opportunities: Alaska Air Group [View article]
    "hmmm.."

    :)
    Aug 17, 2015. 03:26 PM | 1 Like Like |Link to Comment
  • Pieces Fall Into Place: 'AT&T Of The Americas' [View article]
    Great article, Ray, but..I tend to disagree - too many powerful corps have come up wanting in the locales mentioned, ATT being one of them (back in the wired days).
    and direcTV needs a new model, the cord-cutters are legion..
    Excuse my personal bias of twice-burned, decades shy, lol.. the records are gone, "but the memoreee remains.."
    Aug 14, 2015. 04:20 PM | 3 Likes Like |Link to Comment
  • Key Post-Earnings Observations And Opportunities: Alaska Air Group [View article]
    "Previously, the industry has been notorious for non-ratable earnings and weak balance sheets. This appears to be changing for the first time in decades."

    amen, another patently avoided industry for me - Thanks Ray, I'll give it a look.
    Aug 12, 2015. 03:35 PM | 1 Like Like |Link to Comment
  • JPMorgan Chase's Achilles Heel: Litigation [View article]
    Hi Celan, an attempt at humor RE your 'General Public' statement above.
    Jul 31, 2015. 03:48 PM | Likes Like |Link to Comment
  • JPMorgan Chase's Achilles Heel: Litigation [View article]
    Thanks for the (GP) summary!
    Jul 30, 2015. 05:55 PM | 1 Like Like |Link to Comment
  • Bank Of America: Don't Read Too Closely Into The CFO Resignation [View article]
    fascinating..
    Jul 28, 2015. 08:44 PM | Likes Like |Link to Comment
  • Wells Fargo Investors: Don't Get Duped By The Media [View article]
    I think the Pro section must have experienced an upgrade or summat, I had two articles appear WSJ one paragraph and fade as well, nearly All of the pre-earnings articles were 'held', as the sarcastic comments RE "weren't the earnings reports Yesterday?" attest..
    Not sure what went wrong, but that is what we experienced here and there.
    (conversation with wife, "I know that earnings are tomorrow, but I've had to convince myself Twice that I had the date right, as there is NO flood of pre-earnings articles.. I'm talking Crickets.. Never seen absolute silence before.")
    Odd and irritating that there is no SA comment on the phenomenon.. His obligatory 'notable earnings before, etc.' article was Blank, and not released until at or after said calls, i.e., released With the call transcripts, or thereabouts.
    Jul 19, 2015. 11:39 PM | Likes Like |Link to Comment
  • Wells Fargo Investors: Don't Get Duped By The Media [View article]
    I gotta say, Ray, that I enjoy the response section of your articles as much as the articles themselves.. if your following has gone up it may be due to me telling my remaining friends about you..

    "Later, he agreed it was an improvement." Now that is a Great 'universal' line, I useta' collect them from (good) comedians to make myself seem sharper-witted at the corporate cage-fight-of-the-week.. to occasionally lighten the atmosphere. You're in the good company of George and Robin there, Thanks.. the Patron Pyrat shot is on me!
    Jul 19, 2015. 08:48 PM | 1 Like Like |Link to Comment
  • Wells Fargo Investors: Don't Get Duped By The Media [View article]
    My Citi take was numbers and conference, both heartening, and my record of support (NOT) for their organization and tactics is long-winded.

    I'll admit my unwillingness to even consider a BoA earnings call, I stopped many moons ago, my positive attitude can only take so much punishment..
    So.. you were actually Impressed by a BoA earnings call? that could be a Headline to us deep-in-the-trenches type observers.. surely not detecting a hint of rose @ the RM headquarters?
    Jul 19, 2015. 05:07 PM | 1 Like Like |Link to Comment
  • Wells Fargo Investors: Don't Get Duped By The Media [View article]
    Great article, Ray, the news-creators are a constant burr and I agree that the timing of your counter-punch was spot on (all were guilty of the obligatory JPM comparison and -seem- to be extra-interested in that member of the sector, ahem).

    But John and Team -did- take a couple serious punches this round that deserved mention. My biased take was that their results were solid as ever, but Without the body-blows they would have matched the competitor, easily. This is gravy quarter so now Q3 must surpass, MHO.

    '15 is -looking- like the year JPM desperately needed.. even Citi looks a touch healthier.. my rosey shades are feeling a tad more comfortable, lol.
    Jul 18, 2015. 05:44 PM | Likes Like |Link to Comment
  • Wells Fargo Chugs Along As Changes In Banking Industry Take Place [View article]
    Well said, Master Mason, Thanks!
    You may consider tracking the publications you chose, as they are somewhat consistent in their choice of wording regarding Anything WFC, i.e., 18 record quarters reads, "WFC maintains its plodding upticks".

    Considering the hits they took this quarter, I'm impressed, but I am also biased.
    Solid through good and bad, and boring, best a long can hope for.
    Jul 15, 2015. 06:05 PM | 1 Like Like |Link to Comment
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333 Comments
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