Tuesday, April 21, 2009

Interesting views on Banks earnings and the recent accounting cons.

Whitney Expects Banks to Return to `Negative Earnings’

Video. Basically the recent profits reported by the major US banks are a one-off and going forward, earnings potential looks dire.

Posted by tyrellcorporation @ 09:02 AM (789 views)
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4 thoughts on “Interesting views on Banks earnings and the recent accounting cons.

  • mountain goat says:

    Creative accounting gone mad:

    “It’s the ultimate double standard: The banks get away with inflating their toxic assets (i.e. not marking to market). But at the same time, they’re allowed to mark to market their own debts, which happen to be trading at huge discounts on the open market precisely because of their toxic assets.” – source

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  • general congreve says:

    The truth will out, there’s no escaping it. Hedge yourself, buy gold and silver, the crash has barely started.

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  • mountain goat – if all of this is true then if these banks stay afloat then they are a good bet, and if not then the wager will have been meaningless. (i.e. heads you win, tails you don’t lose).. which suggests one should invest in a diversified pool of banks with a heavier weighting on those with the most diversified counterparty risk (JPM, MS, BofA), which seems counter to the macro information, but logical, if the investment world see this logical argument then capital will gravitate that way and we recover… let’s just hope house prices fall to a more realistic level first! It would appear that the treasuries noticed this logic very early on (?!!)

    Interesting times indeed.

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  • i liked her comments on the stress test right at the end. Lots of “wiggle room”. A female take on the subject? In two years time you will be thinner and more attractive. Brought a smile to my face – odd for an american shes not too far into herself. I think she dont look bad either.

    Sorry a bit Sid the sexist there!

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