IndyMac thrives as OneWest
If you looked back at the S&L crisis, sharp investors like Gerald Ford managed to make huge returns by acquiring the carcasses of failed banks, infusing them with capital, and picking off credits...
View ArticleOne-On-One with Warren Buffett (CNBC)
Quick Notes: -Wells Fargo has done exactly what they said they could do. Their $40B of pre-provision earnings could handle large losses of $20B. -The government did the right thing in acting fast in...
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Why Bruce Berkowitz bought Citigroup
(Click for video) The play here looks familiar to other theses that I’m seeing from hedge funds. Namely, that after TARP and the government’s intervention, the worst is over for a company like Citi....
View ArticleWilbur Ross invests in Sun Bancorp
Joe Bel Bruno has a great post about Wilbur Ross’ new investment in Sun Bancorp, a New Jersey-based bank: The billionaire financier, who has been beating the drum that private-equity dollars can save...
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Banks: Recession in the Southeast?
Here are some thoughts from the Bank Analyst on troubled banks in the US: After parsing through bank earnings one thing that sticks out is non-performing loans (NPL) remain high. Tracking NPLs and more...
View ArticleJames Montier: Rumors of the Death of Mean Reversion Are Greatly Exaggerated
James Montier (of GMO, author of Value Investing: Tools and Techniques for Intelligent Investment) was at the European Investment Conference recently, where he argued against the idea that mean...
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Warren Buffett invests in Bank of New York
Yesterday, the new 13F filing for Berkshire Hathaway (NYSE:BRK.B) came out and for the most part, I wasn’t really surprised. Warren Buffett trimmed some of his holdings but increased his stake in Wells...
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