ozcutty2

U.S. Credit Card Defaults Soar to Record High

Didn't you guys get the memo? Inflation will take care of the debts which would actually be good for credit companies. Just not for a year or 2. I sold out of dfs but will look to buy back in when charge-offs stop rising and inflation kicks in

Berkshire Hathaway Stock Holdings and Investment Ideas

UNH is my favourite from that list, still making $6 billion cash profit in a recession, love it!

A Summary of Q1 Bank Earnings: World, You Just Got Hustled

Banks fake results and use pumped up share prices to raise "free" money to pay off government. So we get our Tarp money back and banks can pay their executives fat pay cheques again. Existing shareholders get diluted but are happy the bank is not going to go out of business.

If you think about it, it was a pretty neat trick, and all up its probably a win-win all round.

To me it shows the lengths the US Administration will go to. Maybe thats why Japan was in a banking crisis for a decade, they were too honest or not smart enough to use these tricks!!??!

The question is, what will Q2 look like? do they have any more tricks? Without a good Q2, the banks will drop again. Maybe they can take our some more AIG insurance!

Bank Stress Test: The Cheat Sheet

Don't fancy COF even though it passed. AXP or DFS much better

Exclusive: Big Banks' Recent Profitability Due to AIG Scam?

My only question is, given the fed is inflating and re-capitalising the banking system by dodgy means, how do i make money off this?
Buy BAC, GS?????
They always say "don't fight the fed" don't they??

Financial Times Debunks Citi's Memo

All the big banks are posting record revenue. Its becasue the small banks are failing and its a flight to the "too big to fail" institutions.
I think the FT article is right, its highly suspicous that this was an internal memo not an official trading update. I suspect it was to avoid an SEC probe if it turns out to be BS.
Interesting readers don't like your photo Tyler, looks like they only trust men in suits....like Madoff...

Obama's 'Bad Bank' Plan Is a Turning Point

The root of the problem is falling house values. Just buy up all the vacant houses for social housing, market recovers, bobs your uncle.

Would You Buy Bank of America Common?

I wouldn't take insider buying too seriously. Insiders owned alot of BSC and LEH and it didn't help.
Banks are way too risky, i'm looking at financial companies with similar upside but less risk like asset managers.

How the Government Forced BofA to Marry Merrill Lynch

I actually like what BAC have done, it was an all stock deal and included a chunk of BLK which is valuable.
The problem is everyone is so short term, in a couple of years Ken Lewis's aquisitions may look amazing value, but the public and the government want to interfere and ruin any long term thinking for short term political gain.

Same situation in UK, lets punish the banks, sure we will give them money, but we will make them pay 8-12% interest (which they can't afford) and wipe out shareholders. After all shareholders and rich greedy people who deserve to be punished.

Bank of America Facing Mortgage Servicing Losses

BAC stocks plunging. Expect more drama soon. I think the gov will have to step in with another one of its 300billion gaurantees ala Citigroup.

Opportunities Buried Beneath the Headlines

Yeah, things aren't that bad, i've been 100% invested most of the year and i'm only down 5%. When the markets turn, people will be too slow to get back in fearing the worse. Stocks like BAC will rally 100% or more before the average mum and dad investor considers buying them.

Lehman Bankrupt, Merrill Swallowed, AIG Wilting: What It All Means

I think BAC could have waited another week and got MER for half the price.
LEH deserved to go under.
AIG is so very different, plenty of good assets, surely they won't let this one fail becasue of mark-to-market accounting

Dow Price Targets from Last November

What a joke analysts really are. I watched Bear Stearns and Countrywide get sold off cheap, yet analysts still had high target prices, ridiculous and a total waste of time.
My tip is to live as far away from Wall Street as possible and ignor this mob.