This is a ChatGPT-free Zone
Bank of America (BAC) BAC announced earnings too, and things there are looking interesting. Like other banks, there is a problem with NIM pressure. But the investment bank / brokerage business seems to have done really well. I won’t go into any details here, but I just want to jot down what I was looking…
JP Morgan Earnings So JPM announced earnings and things look pretty good to me. Sure, there is still steady NIM pressure and this will be an issue this year too. I think they said it will be a $400 million or so headwind in 2013. But otherwise, things look pretty good. I know people say…
(Warning: The above title is a title of a blog post, not a news headline!) OK, so I asked in my last post if GS would be better off as part of a bigger bank and I couldn’t put that thought away. In the past there were rumored merger partners like Wachovia (that was just…
Bank of America announced their earnings and it looks OK. Of course, there is still an issue with low interest rates and loan growth like at other banks. This is not intended to be a full recap of BAC’s second quarter. I don’t want to comment on every quarterly announcement of companies I talk about…
So I keep hearing people say that Wall Street firms exist only for their employees. One guy on Bloomberg TV said that GS only exists for it’s employees; why not get that compensation down and return some of it to shareholders? As proof that GS exists only for the employees, he states that compensation is…
The financials have really exploded this year as unemployment and other economic figures continue to show some decent recovery. Europe doesn’t seem like it’s going to blow up tommorow. China seems to be going into a hard landing but China might be a laggard to what has happened in the U.S. and Europe in the…
I know, this is a broken record blog. We all know financials are cheap and we all know there are plenty of reasons why they are cheap and why they might be right to be priced cheap. However, I tend to still like the well-managed financials. This is laughable and I don’t mean to suggest…
OK, I keep saying I won’t do something and then go ahead and do it a post or two later. One thing interesting to notice about these bank earnings announcements is how solid they are despite the horrible environment (or so it seems when you read the newspaper). For example, the S&P 500 index has…
I talked about how great it is that people can buy BRK and LUK at book value, and that JPM is selling at or below it’s tangible book value per share even though JPM is capable of earning much more than 15% on that tangible equity. The markets are falling apart now and financials are…