chtrplyr

The Market Is Improving, Cancel the Coffin

Forward P/E's are really low on many of the big names right now and they are trading at or way below book value.

JPM 8.62 x
WFC 6.95 x
BAC 3.16 x
USB 7.65 x
C 8.24 x
BK 8.99 x
GS 8.73 x
TRV 7.41 x
V 17.53 x
AXP 9.67 x
AFL 4.11 x
MER N/A
STT 5.92 x
PNC 6.68 x
CB 8.12 x

Why It's Time to Overhaul the Banking System

We also need to wipe out all the "dead" defense contractors and all the "bailout" money 100's of defense contractor companies get annually.

The continual defense contractor bailouts with tax payer money just foster waste, incompetance, poor performance and are a black hole for tax payer money.

Let the whole industry die and the few last remaining might be competitive and profitable.

Banking never needed anual government handouts and provided a much needed service over the history of the U.S.

Then we go after the agricultural industry next.

Bank Insiders Made Out Like Bandits

BAC has almost all buys in 2008. Backwards looking assessment here that is for sure. and like others have pointed out insider holdings were increasing as "sells" were used to cover taxes. Very misleading!

Financial Downgrades Down Markets - Fast Money Recap (8/19/08)

Thanks to Pete Najarian for hyping the puts - I love selling them!

Wednesday Options Update: MER, BAC, FNM, AMGN, AMLN, LLY, MEA, GE

Many put bag holders losing money again on BAC. Thank you put buyers I love selling them short and booking 100% profit. Can't believe people will pay $2+ for a Sept. 27.50 put on BAC. Fools and their money are soon parted. This trade is an equity killer.

An Evaluation of the SEC’s Prohibition on Naked Short Selling

I think the ban on naked short selling was extremely positive and much needed

'Panics Do Not Destroy Capital'

To be blunt - if you don't even know the provisioning levels/forecasting models of the companies you bash and trash how do you determine they are in an unenviable position? You might be underestimating someone like Ken Lewis of BofA who cut his teeth as a credit analyst and has a company that has managed very well through some conservative reserve building, and obviously navigated much better than you had expected judging by some of the short positions you took. A good read of the provisioning would be in order and then some basic DDM valuation modeling before you jump to the conclusion that everything financial is over-valued carte blanche.

The fact that more people will be using CC's for a while and re-learning how to manage their finances is not necessarily a bad thing for BofA

'Panics Do Not Destroy Capital'

looks like the authors puts have done poorly - you have to wonder why these guys can do fundamental research on the stocks they bash...

Thursday Options Update

will be nice to see all you puts expire worthless. hard learning experience...

BofA CEO Lewis the Next to Fall?

Very poor article - author fails to mention that BAC is paying $9B less than tangible book value.

CFC only lost $0.2B last quarter.

The author and stopthemaddness seem to have an imagination that BofA actually posted a quarterly loss at some point when that is totally false.

When this is over the BAC super bank has access to the 10 Million more customers and originates $480 Billion in prime mortgages per year - the cross selling alone will be a tremendous boon to revenue and earning growth.

SA is terrible with these authors who lack knowledge of the companies they 'short and distort'

Countrywide: Potential Short Squeeze in the Offing

CFC shorts would have to be committing financial suicide to hold a position through the merger.

BofA had $15B current provisions plus $13B positive net equity in CFC plus potential $7B reserves this quarter for $35 Billion total.

All the while remaining profitable.

That will more than cover the balance needed to cover losses even in poor economic conditions the next few years.

With the housing bill they will only have about a quarter of those losses and will book write ups.

This is a negativity and oil bubble that is going to burst. BofA will help that happen after they book CFC as the lower the BofA price right now the lower they book for CFC for.

Shorting CFC at this level is about the dumbest move possible.

BofA + Countrywide: Can Ken Lewis Rescue the Kobayashi Maru?

Hello??? The closing is July 1st... In like 11 days... Where have you been??? You were wrong - give it up... You didn't have a clue about the terms of the deal the whole time.

Try some research....