Bank of America...

[quote author="MalibuRenter" date=1232622613]It is my personal opinion that BofA won't make it.



However, it's also my personal opinion that most of the big banks won't make it past 2010. JPM and Wells Fargo have the best chances among the large banks. However, each of them is probably just one stupid/forced/good-idea-at-the-time acquisition away from the same fate as Citi.</blockquote>


I have been saying for a couple of years that JP Morgan Chase and GS will be the only two biggies left standing.
 
[quote author="jwinston2" date=1232599194]Your best bet: <a href="http://www.bankrate.com/brm/safesound/ss_home.asp ">Bankrate</a>

Not exactly what you are looking for but it will let you know how solvent your bank or credit union is.</blockquote>


eeek - my banks a one star



at least my CU is a five star
 
Any opinions on the CEOs' purchases of common stock?



Definitely caused a monster rally today. But the actual dollar amount isn't that high.



200k shares of BAC is maybe 1.2 million. That's how much they spend on a few commercials.



To me this just seems shady. But then, maybe they know something about the common shares?
 
[quote author="toady9" date=1232630263]Any opinions on the CEOs' purchases of common stock?



Definitely caused a monster rally today. But the actual dollar amount isn't that high.



200k shares of BAC is maybe 1.2 million. That's how much they spend on a few commercials.



To me this just seems shady. But then, maybe they know something about the common shares?</blockquote>
It's a free PR move. Well, not free, but it can be seen as both a bonus and a show of confidence and doesn't get them fired by their new boss, President Obama.
 
[quote author="MalibuRenter" date=1232622613]It is my personal opinion that BofA won't make it.



However, it's also my personal opinion that most of the big banks won't make it past 2010. JPM and <strong>Wells Fargo</strong> have the best chances among the large banks. However, each of them is probably just one stupid/forced/good-idea-at-the-time acquisition away from the same fate as Citi.</blockquote>


Wells Fargo has too much exposure to California...that's something to watch.
 
Citigroup has had a managment mandate since Sandy Weills days that they maintain a 75% personal ownership in the common stock. This policy has SUNK many I know
 
[quote author="toady9" date=1232630263]Any opinions on the CEOs' purchases of common stock?



Definitely caused a monster rally today. But the actual dollar amount isn't that high.



200k shares of BAC is maybe 1.2 million. That's how much they spend on a few commercials.



To me this just seems shady. But then, maybe they know something about the common shares?</blockquote>


CEO's purchasing common stock in BAC is equivelant to Bernanke slashing interest rates. It is simply a vocal attempt to try and infuse some confidence, which happens to fail.

Monster rally? You mean the one that was followed by a super charged monster collapse?



Let's see all the good qualities they have...



Bought CW so they can have the biggest real-estate exposure then any other bank.

Bought ML for far more than they should have. They could have had them for 1/10 of the price (saving about 40 Billion) if they waited merely lets say...two DAYS!!!

Posted first loss in over a decade and on top of that accumulated enormous debt and continues to need more money from the govern...err YOU!



Please, if anybody is thinking of investing then do your research. The above three items are things everybody already knows and there is far more issues going on with BAC than that.

If you really want to invest in this company thinking that 2 years down the road they might be worth more than 5-6 a share. Lets say 10.

Then buy calls a couple of years out, lock them up, and wait. To be honest...I did that. I invested...errrrrrr....gambled a measly 1K on some long term calls that I expect to lose with a 95% confidence.



But whatever you buy related to BAC...you are gambling. If you think it's investing...please state your reasons or even a reason as to why you think it's investing.
 
Given the off balance sheet items being carried by the major banks, there is no possiblity to do due diligience for the purposes of going long the banking stocks.
 
[quote author="awgee" date=1232669673]Given the off balance sheet items being carried by the major banks, there is no possiblity to do due diligience for the purposes of going long the banking stocks.</blockquote>


Just the banks?
 
[quote author="no_vaseline" date=1232670183][quote author="awgee" date=1232669673]Given the off balance sheet items being carried by the major banks, there is no possiblity to do due diligience for the purposes of going long the banking stocks.</blockquote>


Just the banks?</blockquote>


Yes, it is illegal for other corporations to run off balance sheet items and run their books the way banks do.
 
I would not short JPM, nor do I think JPM will declare bankruptcy because of it's political connections and connections to the Federal Reserve, but Reggie is the best and most consistent I have read on the banks.



<a href="http://boombustblog.com/Reggie-Middleton/766-Re-JP-Morgan-when-I-say-insolvent-I-really-mean-insolvent.html">Reggie on JPM</a>
 
[quote author="blackvault_cm" date=1232667496][quote author="toady9" date=1232630263]Any opinions on the CEOs' purchases of common stock?



Definitely caused a monster rally today. But the actual dollar amount isn't that high.



200k shares of BAC is maybe 1.2 million. That's how much they spend on a few commercials.



To me this just seems shady. But then, maybe they know something about the common shares?</blockquote>


CEO's purchasing common stock in BAC is equivelant to Bernanke slashing interest rates. It is simply a vocal attempt to try and infuse some confidence, which happens to fail.

Monster rally? You mean the one that was followed by a super charged monster collapse?



Let's see all the good qualities they have...



Bought CW so they can have the biggest real-estate exposure then any other bank.

Bought ML for far more than they should have. They could have had them for 1/10 of the price (saving about 40 Billion) if they waited merely lets say...two DAYS!!!

Posted first loss in over a decade and on top of that accumulated enormous debt and continues to need more money from the govern...err YOU!



Please, if anybody is thinking of investing then do your research. The above three items are things everybody already knows and there is far more issues going on with BAC than that.

If you really want to invest in this company thinking that 2 years down the road they might be worth more than 5-6 a share. Lets say 10.

Then buy calls a couple of years out, lock them up, and wait. To be honest...I did that. I invested...errrrrrr....gambled a measly 1K on some long term calls that I expect to lose with a 95% confidence.



But whatever you buy related to BAC...you are gambling. If you think it's investing...please state your reasons or even a reason as to why you think it's investing.</blockquote>
You forgot about that great purchase of Countrywide and all their skeltons...that's gonna be the killer for BAC. Buying MER just pours salt on the wound and makes things that much worse. I think you can sell uncovered calls against this stock on any big rallies because it's going no where for years.
 
[quote author="awgee" date=1232672649][quote author="no_vaseline" date=1232670183][quote author="awgee" date=1232669673]Given the off balance sheet items being carried by the major banks, there is no possiblity to do due diligience for the purposes of going long the banking stocks.</blockquote>


Just the banks?</blockquote>


Yes, it is illegal for other corporations to run off balance sheet items and run their books the way banks do.</blockquote>
Don't insurance companies do the same thing??? AIG comes to mind.
 
[quote author="usctrojanman29" date=1232677789][quote author="awgee" date=1232672649][quote author="no_vaseline" date=1232670183][quote author="awgee" date=1232669673]Given the off balance sheet items being carried by the major banks, there is no possiblity to do due diligience for the purposes of going long the banking stocks.</blockquote>


Just the banks?</blockquote>


Yes, it is illegal for other corporations to run off balance sheet items and run their books the way banks do.</blockquote>
Don't insurance companies do the same thing??? AIG comes to mind.</blockquote>


You may be right. I tried to think of some before I answered and when I could not think of any, I assumed, wrongly, there were none.
 
[quote author="usctrojanman29" date=1232677727][quote author="blackvault_cm" date=1232667496][quote author="toady9" date=1232630263]Any opinions on the CEOs' purchases of common stock?



Definitely caused a monster rally today. But the actual dollar amount isn't that high.



200k shares of BAC is maybe 1.2 million. That's how much they spend on a few commercials.



To me this just seems shady. But then, maybe they know something about the common shares?</blockquote>


CEO's purchasing common stock in BAC is equivelant to Bernanke slashing interest rates. It is simply a vocal attempt to try and infuse some confidence, which happens to fail.

Monster rally? You mean the one that was followed by a super charged monster collapse?



Let's see all the good qualities they have...



Bought <strong>CW</strong> so they can have the biggest real-estate exposure then any other bank.

Bought ML for far more than they should have. They could have had them for 1/10 of the price (saving about 40 Billion) if they waited merely lets say...two DAYS!!!

Posted first loss in over a decade and on top of that accumulated enormous debt and continues to need more money from the govern...err YOU!



Please, if anybody is thinking of investing then do your research. The above three items are things everybody already knows and there is far more issues going on with BAC than that.

If you really want to invest in this company thinking that 2 years down the road they might be worth more than 5-6 a share. Lets say 10.

Then buy calls a couple of years out, lock them up, and wait. To be honest...I did that. I invested...errrrrrr....gambled a measly 1K on some long term calls that I expect to lose with a 95% confidence.



But whatever you buy related to BAC...you are gambling. If you think it's investing...please state your reasons or even a reason as to why you think it's investing.</blockquote>
You forgot about that great purchase of Countrywide and all their skeltons...that's gonna be the killer for BAC. Buying MER just pours salt on the wound and makes things that much worse. I think you can sell uncovered calls against this stock on any big rallies because it's going no where for years.</blockquote>
Highlighted ;)
 
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