Maui Investor

Six Ways to Invest in Hawaii

HE Industries also owns American Savings Bank, the third largest bank in the State of Hawaii. However, it is difficult to say if this is an asset or a drag on the company because the bank's financial performance is not disclosed separately.

Investors Are Overlooking MBIA's Value - Barron's

When I saw MBI and ABK bounce a little into Friday's close, I wondered what the reason was. It appears someone may have leaked that this article was coming out over the weekend.

While I do think the selling appears to be overdone, I think that bond insurance in 2008 is the same as portfolio insurance was in 1987. I also think that the way the stock market is pricing ABK and MBI is an indication of its faith in the value of the bond insurance they provide.

With Countrwide "Contained," Is Washington Mutual Next?

Interesting perspective on WM. Personally, I think BAC made a bad initial investment in CFC and doubled down. I'm not so sure the other large banks will be as aggressive in going after Wamu. I think its too much of a risk for anyone other than JPM, and I think their Board has a responsibility not to take their share price down on such a gamble. An acquirer has to consider that the Bush administration will be around for less than a year so what assurances does a Wamu buyer have that they will be taken care of in 2009 when more problems could surface in their ARM portfolio?