Vegasjoe

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  • Memo to Warren: AmEx Preferred at 15%, Warrants at $12
    So the Amex wide moat has a huge leak?
    Nov 17 14:33 pm |Rating: 0 0 |Link to Comment |View article
  • S&P 500's Best and Worst Net Income Change
    So what is the point of this? Buy the dogs and sell the companies with real earnings? Many of the financials will never recover in share price for two reasons, namely, there ability to lever the balance sheet and party in SIV land is over, and exisiting shareholders in most cases have been diluted into oblivion.
    Aug 04 05:05 am |Rating: 0 0 |Link to Comment |View article
  • More of the Same
    Maybe the Arab sovereign funds will buy them all out and dilute all US shareholders into oblivion?
    Jul 29 11:54 am |Rating: 0 0 |Link to Comment |View article
  • Moody’s: Some US Banks Still May Be Undercapitalized
    Maybe Warren Buffett slapped Moody's management, since he owns a slug of it, to get them to actually start rating securities based on risk, not how much these firms could extort in fees to maintain a fake high credit rating? At this late point, Moody's must do an awful lot to restore credibility.

    [ED: Comment edited to remove abuse.]
    Jun 09 06:59 am |Rating: 0 0 |Link to Comment |View article
  • Credit Cards: The Next Subprime?
    V and MA do not take credit risk; they simply process transactions. They collect toll charges. Most banks have cut back their teaser transfer competition. Most banks now financially underwrite loans for everything. Imagine that. AXP is a buy at these levels. Maybe MBIA and AMBAC will insure credit card defaults since they got into every other dumb business other than muni bonds.
    Jun 05 09:02 am |Rating: 0 0 |Link to Comment |View article
  • How Cheap Are U.S. Bank Stocks?
    Big banks are toast; earnings compression will keep prices down, and valuations will be lower too for financial assets. Lots of consolidation and mergers in next 24 months.
    Apr 19 19:52 pm |Rating: 0 0 |Link to Comment |View article
  • A Debate Over Citi
    C will see 15 or less before it sees $40. Remember 1990 at $8, all becasue of the S&L voodoo economics, and poor third world country loans. Olstein was once so sure about Tenet Healthcare at $10-12 a few years back and it now is just hitting $5.50.
    We are in the 4th-5th inning of writedowns. More dilution will be coming to C shareholders.
    Apr 12 10:37 am |Rating: 0 0 |Link to Comment |View article
  • Financials and Retail: Not as Dire as They Seem
    This credit binge and deleveraging just goes to show that CEOs and other senior management at these institutions are grossly overpaid, never had an original idea, and rationalize the meltdown of their own stock as "everyone else was doing it, therefore, it must have been ok!" But then, when fired, the gutless Board's give them hundreds of millions for long and loyal service! Go figure! Who doI send my resume to at C, MER, WM, etc.....Commerical real estate is next! Goodbye regional bank CEOs.
    Mar 08 08:45 am |Rating: 0 0 |Link to Comment |View article

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  • 59 Comments, 3 , 0
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