Parsad

Back up the truck was several months ago, when a handful of us were backing up the truck. Now it's stay the course on BAC and WFC, and look for other ideas for capital. Cheers! You could do worse than putting money into BAC or WFC at current prices. Actually, it sort of depends on the rate of return you're expecting from investing and how concentrated you already are in those names. I likely will not be adding to those particular names. I was still buying options in and around 8. I think this will sprint to TBV now. I bet its past $9 tomorrow, and $10 by weeks end. But then, My powers of prediction aren't as good since I lost my tin foil hat. I hope you're right. Not sure what would hold it back from hitting $10, but markets don't like any sort of uncertainty. I'm thinking tangible book by Christmas because of the litigation overhang, but I sure hope you are right instead. Cheers!

Yes, they only failed because they wanted to return more capital than the Fed would have liked. Cheers!

I'm sure glad I bought Wells equity and a ton of BAC A warrants instead then! I read the prospectus for the BAC warrants, and just assumed it was the same for the WFC ones too. Cheers!

It's not massive, but any increase to the dividend will bring your exercise price down. You have 6 years left to exercise. Cheers!

Five people have been charged with insider trading after trading on information provided during an Alcoholics Anonymous meeting. Cheers! http://finance.yahoo.com/news/sec-charges-five-insider-trading-211538137.html;_ylt=Akc41liWiHgkE9MI_mQoeUiiuYdG;_ylu=X3oDMTQ0Z25xamJsBG1pdANGaW5hbmNlIEZQIFRvcCBTdG9yeSBSaWdodARwa2cDZjM5ZGQ0NjctNjcxOC0zY2E3LTgxYWMtZmMxYTA5ZDY4NWFmBHBvcwMxBHNlYwN0b3Bfc3RvcnkEdmVyAzA1MzM0ZWUwLTZkNTItMTFlMS1hYmY0LWJmZDFiMjgzZGExMA--;_ylg=X3oDMTFvdnRqYzJoBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25zBHRlc3QD;_ylv=3

A 14-year old can't even buy a closet for $14,000 in Vancouver! ;D Cheers!

Other than litigation, after examining the results of the Fed's stress tests, at the very least, BAC should be trading at the same price to book as Citi. In fact, with less overseas exposure and even with litigation (the biggest case already settled - $25B deal with the states), BAC should be at Citi's 0.6 price to book now in my biased opinion! Cheers!

You mean bottom? No. Cheers!

I believe it is 10%. Cheers!

Back up the truck was several months ago, when a handful of us were backing up the truck. Now it's stay the course on BAC and WFC, and look for other ideas for capital. Cheers!

Contrary to what many investors feared last year, banks are in very good shape, and about 80% of firms would have passed the new extreme scenarios in this year's stress test. Cheers! http://blogs.wsj.com/economics/2012/03/13/fed-releases-stress-test-results/?mod=yahoo_hs

Also according to breaking news on Bloomberg, Suntrust's capital plans failed the stress test. Moynihan is looking smarter and smarter for not asking for a return of capital. Cheers!

According to different reports, they passed. I hope they do file an amendment or something to ask if they can buy back shares in the 2nd quarter on. I don't want them to increase their dividend anyway, until they've got their Tier 1 up at 10% and they've bought back some shares below tangible book. Cheers!

According to breaking news on Bloomberg. Maybe Pandit should give some of his compensation back until they do pass! Cheers!

Morgan Stanley is reporting that the Fed has no problem with them paying a dividend. If this is true, then I can't see why BAC wouldn't be allowed to increase their dividend slightly. Cheers!

FOX is reporting that BAC passed according to sources familiar with the matter. http://www.foxbusiness.com/news/2012/03/13/jpmorgan-set-to-raise-dividend-after-fed-stress-test-bac-said-to-pass/ Cheers!

WSJ changed the title of that article. They may have been premature on that BAC comment. Cheers!

They changed the title of the WSJ article, so their comment may have been premature. Cheers!

I'm guessing today is looking pretty good for Berkie as well! Cheers! http://www.forbes.com/sites/gurufocus/2012/03/13/fairholme-fund-goes-from-bottom-99-to-top-1-of-funds/?partner=yahootix

I don't think Berkowitz is going to look dumb to many people much longer. He's got a ways to go, but I think this just the start for some of his positions. I'm sure his SHLD is looking pretty good this year as well. Again, those guys that jumped the ship near the bottom are going to regret their decision. Cheers!

Did WFC release payout information? I would bet that WFC's dividend will be a minimum of 60 cents, and I would say it would be closer to 80 cents annually. They could actually afford even more than that, but I think they may back a bunch of shares too. Cheers!

I posted a new thread, but BAC has passed as well according to the WSJ. Giggle, giggle! Cheers! http://online.wsj.com/article/SB10001424052702304537904577279720671471152.html?ru=yahoo&mod=yahoo_hs

Giggle, giggle! Cheers! http://online.wsj.com/article/SB10001424052702304537904577279720671471152.html?ru=yahoo&mod=yahoo_hs

You have double taxation on a dividend, which was already at about 2.5% annually. Whereas a share buyback is much more tax efficient if you believe your shares are undervalued, and your business will do well economically long-term. Cheers!

I can only imagine you giggling! ;D I might joint you. Cheers!