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philipmax

philipmax
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  • JPMorgan Chase's Achilles Heel: Litigation [View article]
    Great article. Society cannot long endure when, the depository of bedrock fiduciary responsibility, is guilty of numerous malfeasance. JPM has an ingrained predatory ethic, that is inimical to their customers as well as to themselves. This is supposed to be a bank - where people entrust their hard earned funds - not a free-for-all racketeering entity that sets and plays by its own rules. Celan makes a very cogent case, especially, because due to its size and influence, JPM is the a centerpiece of our (the US and Western) society. Therefore, its moral lapses are a poor reflection on all of us. How humiliating it is that this firm is so often caught red-handed and must fess-up with fines. Not many in our society will go unpunished for these infractions, but, bankers do. There are NO EXCUSES for immoral and illegal behavior on the part of this bank or any bank. I am tired of people trying to blame the so called "losers" for taking the banks to task. SHAME ON THE ENTIRE JPM MANAGEMENT TEAM!!!
    Jul 30, 2015. 06:03 PM | 3 Likes Like |Link to Comment
  • Money-laundering probe widens at Banamex [View news story]
    No surprises. Not even newsworthy. We've seen this many, many times at C. It's just a cesspool of corruption. NO WRONG DOING! Yes! This is true! BANAMAX was just operating in "business as usual" mode. How can there ever be a suspicion that the owners and operators did anything wrong?

    What's good for CITI is good for the USA!!!!
    Jul 24, 2015. 11:12 AM | Likes Like |Link to Comment
  • NCZ: Is It Time To Enjoy This Fund's 14% Distribution? [View article]
    sure! but...what's a pm?
    Jul 23, 2015. 06:13 PM | Likes Like |Link to Comment
  • NCZ: Is It Time To Enjoy This Fund's 14% Distribution? [View article]
    About the Return of Capital on NCZ, NCV.
    Out of our monthly distribution of .085 cents from NCZ .0183 Cents is ROC.
    Roughly, 20.5% is our own money. When I called my broker he could not expklain why this was not reported on the 1099. I called Allianz Group and they gave me a two hour run-around without ever resolving the problem.
    If one goes to cefconnect.com and enters the ticker symbol, it lists $.0667 as UNII per share. But no where does it list that the difference is a Return of Capital.
    Jul 23, 2015. 02:22 PM | Likes Like |Link to Comment
  • The Perry Appeal, Prospects For Reversal And The Possible Effects On Fannie Mae And Freddie Mac Share Prices: Part II [View article]
    It is the intention of Treasury and FHFA, with collusion of the Courts, to keep this case wrapped-up in deliberations and discovery for 15-20 years. In the interim, F&F Balance Sheets will be decimated by starving the companies from retaining cash and, deliberately undervaluing mortgage securities held by them so that others (TBTF banks) can acquire valuable F&F assets at deeply discounted values. An immediate INJUNCTION to stop Treasury meddling has to be issued or all is lost to shareholders - regardless of the ultimate victory that the author assures us.
    Jul 22, 2015. 08:17 AM | 4 Likes Like |Link to Comment
  • NCZ: Is It Time To Enjoy This Fund's 14% Distribution? [View article]
    I get a 1099 dividend report on NCZ on which I pay income tax. With this article, it comes to light, that at least 20% of the dividend is RETURN OF CAPITAL on which there is no tax. How would I be able to get a corrected 1099, considering that this information is buried in the NCZ financial statements and not reported to the IRS?
    Jul 22, 2015. 06:50 AM | Likes Like |Link to Comment
  • Citi to pay $700M for deceptive credit card marketing [View news story]
    Currently, it's a race between C and JPM as to who can reach to the bottom first. Hard to tell as they are both racing full speed in evil schemes and skullduggery.
    Jul 21, 2015. 03:20 PM | Likes Like |Link to Comment
  • A Light At The End Of The Tunnel: Fannie Mae And Freddie Mac And The U.S. Court Of Appeals [View article]
    Thanks, but the article is so long that I lost track. I'm on the shareholders' side, and any ruling that will side with shareholders is good. The problem, although it looks like a slam-dunk for shareholders, Judges don't always see it that way. Laws get pervades,skewed, and disregarded when you enter the court room. White becomes black and vise-a-verse. Good luck.
    Jul 21, 2015. 03:05 PM | 1 Like Like |Link to Comment
  • FHFA Writedowns Continue To Be Greatest Threat To GSE Investment Thesis [View article]
    I like your insight here. I believe you have uncovered a very important, and as yet, unrevealed, mechanism for dismantling the GSEs. This explains the prolonged and agonizing shut-down effort that is not being addressed by the Courts and Press. The elimination will take place quietly before our very eyes. Thanks for the heads-up
    Jul 21, 2015. 08:43 AM | Likes Like |Link to Comment
  • UBS sees more growth for Brown-Forman [View news story]
    They know what they speak of. Go BF.B
    Jul 21, 2015. 07:37 AM | Likes Like |Link to Comment
  • FHFA Writedowns Continue To Be Greatest Threat To GSE Investment Thesis [View article]
    I always ask myself, what's the agenda? Who is setting the agenda? (not G bureaucrats, they are just puppets). The answer, i believe, is TBTF banks - JPM, GS, C, WFC and BAC are chomping at the bit to take over this gold mine.
    Imagine when, suddenly, GSEs are bankrupted, and the Boyz march in with a way to "save" the system.
    Jul 21, 2015. 07:00 AM | 1 Like Like |Link to Comment
  • U.S. Bancorp: Q2 2015 - Buy [View article]
    Hold this and predecessor banks to USB in family since 1907
    Jul 20, 2015. 06:53 PM | Likes Like |Link to Comment
  • PNC Financial Is Way Overextended Here [View article]
    Pretty good technical analysis. I totally disagree with your conclusion.

    Technical data does not give credit to good governance and dedicated management. This bank ranks top in management and dedication to shareholders and customers alike. Unlike it peers, it has not made much headlines in skulduggery antics and gross violations of the rule of law. It sticks to its business and is doing a damned good job of it.
    I rank this bank, as well as USB, as top choices for rapid growth when the economy is balanced again.
    Jul 20, 2015. 06:59 AM | 4 Likes Like |Link to Comment
  • U.S. Bancorp flat after inline quarter [View news story]
    Looks like the Big banks are all reporting flat 2nd qtr. USB is strengthening its B/S
    so, it looks pretty stable. Now, if we get rid of the massive Treasury intervention, overhead should decrease double-digits.
    Jul 15, 2015. 10:54 AM | Likes Like |Link to Comment
  • NCZ: Is It Time To Enjoy This Fund's 14% Distribution? [View article]
    I frankly don't fully understand this article and am somewhat flummoxed by your conclusion. Although I hold this investment, I am not convinced that you assured me of its low risk valuation. I was under the impression that this fund leverages its holdings with long/short positions to "trade the market". If so, the returns could be very volatile as market swings could create pockets of losses as well as profits. Therefore, the dividend risk is much higher than your conclusion suggests, and the high yield is a reflection of this.
    Jul 10, 2015. 01:50 PM | 2 Likes Like |Link to Comment
COMMENTS STATS
336 Comments
461 Likes