dcollon

JPM report on the credit side of the whole CCAR results in case you care CCAR_Wrap-up_Credit_Side.pdf

Thanks Watsa

Wells Fargo & Company Increases Quarterly Cash Dividend Rate to $0.22 Tuesday, March 13, 2012 04:45:00 PM Wells Fargo & Company (NYSE: WFC) today announced an additional first quarter 2012 dividend on its common stock of $0.10 per share, which together with the $0.12 per share dividend previously declared on January 24, 2012, brings the total dividend declared for the first quarter to $0.22 per share. The additional dividend is payable March 30, 2012, to stockholders of record on March 26, 2012. The Company also announced that the Federal Reserve did not object to its Capital Plan submitted in January 2012, or to the dividend rate increase and other capital actions included in the plan. “We are extremely pleased to reward our shareholders with an increased dividend rate for a second consecutive year,” said Chairman and CEO John Stumpf. “Today’s decision by the Federal Reserve Board allows us to increase the dividend and undertake other actions to return capital to our shareholders. Our ability to do this is a testament to our diversified business model, which has allowed us to continue to grow capital, while at the same time growing our balance sheet and providing our shareholders with more return on their investment. “The Federal Reserve's stress test scenario applied a series of very conservative assumptions to validate the industry’s ability to perform and maintain adequate capital in the event of unlikely, dire circumstances. Wells Fargo has always managed its business to perform for shareholders through a variety of economic environments and we are pleased that this process again validates the strength of our franchise.” In addition to the increased dividend rate, the Company’s capital plan allows for a higher level of common share repurchase activity in 2012 versus 2011. The plan also includes selective redemptions of trust preferred securities that no longer count as Tier 1 Capital under the Dodd-Frank Act.

Looks like Citi whiffed

JPMorgan Chase to Increase Quarterly Common Stock Dividend to $0.30 Per Share Tuesday, March 13, 2012 03:04:00 PM JPMorgan Chase & Co. (NYSE: JPM) today announced the following actions taken by its Board of Directors: Declared a quarterly dividend of $0.30 per share on the corporation's common stock, an increase of $0.05 per share. The dividend is payable on April 30, 2012 to stockholders of record at the close of business on April 5, 2012 Authorized a new $15 billion equity repurchase program, of which up to $12 billion is approved for 2012 and up to an additional $3 billion is approved through the end of the first quarter of 2013 Remarking on the dividend action and repurchase authorization, Jamie Dimon, Chairman and CEO, said, "We are pleased to be in a position to increase our dividend and to establish a new equity repurchase program. We expect to generate significant capital and deploy that capital to the benefit of our shareholders. JPMorgan Chase continues to invest in our substantial organic growth opportunities as our top priority and best use of capital. We expect to repurchase, at a minimum, approximately the same amount of shares that we issue for employee stock-based incentive awards. Beyond this, we intend to repurchase equity only when we are generating capital in excess of what we need to fund our organic growth and when we think it provides excellent value to our existing shareholders." The Federal Reserve has informed the Firm that it completed its 2012 Comprehensive Capital Analysis and Review (“CCAR”) and that it did not object to the Firm’s proposed capital distributions submitted pursuant to CCAR. The timing and exact amount of common stock and warrant purchases will be consistent with the Firm’s capital plan and will depend on various factors, including market conditions, the Firm's capital position, internal capital generation, and organic investment opportunities. The new repurchase program does not include specific price targets, may be executed through open market purchases or privately negotiated transactions, including utilizing Rule 10b5-1 programs, and may be suspended at any time. The equity repurchase program replaces the prior $15 billion program that had approximately $6.05 billion of remaining authorization.

Thanks. I'm really looking forward to the meeting (s). :D

Quick question for some of the veterans. What time does the FFH annual meeting usually end?

I always enjoy listening to his comments. Thank you for posting the video.

DCG, Gamestop is offering some pretty decent prices for old apple products in my area. You might want to check there if you are going to sell your older model.

Latest Mauboussin strategy piece MauboussinOnStrategySeekingPMSkill_MIPX014394.pdf

Thanks for posting.

http://www.berkshirehathaway.com/letters/2011ltr.pdf

Letter discussing spin-off of P&C business, plus other ideas Paulson_13d_on_HIG.pdf

I really like the idea of issuing longer dated bonds are current rates. I don't like the idea of our country being funded like Lehman Bros (i.e. short-term). I realize this would open up a bunch of different issues as it relates to interest exp, etc..., but if we could issue 50 or 100 yr debt at reasonable rates I would do it.

There are a few different videos http://search1.bloomberg.com/search/?content_type=all&page=1&q=bruce%20berkowitz

Any chance he could get support from others to prevent a "run" on his fund? Which fund owns the most Overstock?

http://www.bloomberg.com/news/2012-02-08/foreclosure-deal-to-offer-17b-mortgage-relief.html

Those are fantastic.

Thanks for posting.

http://video.cnbc.com/gallery/?video=3000068654

http://video.foxbusiness.com/

http://www.advisorperspectives.com/newsletters12/pdfs/Michael_Lewis_on_the_True_Depth_of_the_Crisis_in_Europe.pdf

Buffett clips from Bloomberg http://search1.bloomberg.com/search/?content_type=all&page=1&q=buffett

http://www.nytimes.com/2012/01/22/opinion/sunday/the-dangerous-notion-that-debt-doesnt-matter.html?ref=opinion&pagewanted=print

Sure is interesting to watch SHLD on a day to day basis...