Sebastian

3 Comments

    • March S&P/Case-Shiller Figures [view article]
      I agree with Jon.
      Could you perhaps do a price index for the cities that starts with 100 in 1992? Would be great.

      Best Regards, Sebastian
      May 28 02:22 AM
    • 3 Signs of a Bottom for Sovereign Bancorp [view article]
      Greeting my good Freund ;-),

      Nice article in times when clubbing of US-regional banks is so en vogue.
      I really can't understand the doom and gloom about small banks while investors start to talk about a bottom in the big money-centers.
      The regionals are in many cases better capitalized and hold a less dangerous loan portfolio than their bigger brethren. Plus there are still small banks out there, which are actually in the banking-business (borrow at 3, lend at 6, play golf at 3) rather than playing around with derivatives 'n stuff.

      I just wanted to tell you (in amazon.com-lingo) that hence you are interested in Sovereign Bancorp., you might also like Mercantile Bank of Michigan (MBWM). They operating in an economically depressed region but have a rather low exposure to residential loans. MBWM still is "well capitalized" according to the equity to risk weighted assets-ratios and has acceptable levels of unperforming loans as well as 30 day+ - delinquencies. The bank is trading below half book value and experienced considerable insider buys from many of the companys' officers and directors.
      May 22 05:29 AM
    • Warren Buffett Likes Germany, and So Do We [view article]
      Hi Martin,
      Beeing a German investor I would recommend you to take a closer look at Commerzbank - like Deutsche Bank it's one of the DAX30 enterprises. Commerzbank is a big player in German residential and commercial loans with low exposure to US-subprime issues. The current valuation is even more conservative then Deutsche's. It's selling at a 5% discount on book and yields a nice dividend of nearly 5%. In my oppinion Commerzabnk could easily earn a 15% return on equity in more stable global banking environment.
      May 21 02:24 PM
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