chtrplyr

'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...