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Scary ratios


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I know that it is only one set of numbers, but it just shows how little European banks have done to reinforce their balance sheets since the financial crisis. Having followed Citigroup for a while, the difference is simply amazing.


While I was getting more and more encouraged by the private sector finally helping the economy recover, it seems that a small bad event is all that it would take to bring us right back to the depth of the Great Recession. With it the disappearance or significant reduction of corporate earnings. Tough to invest in this environment. You really need special situations or events capable to make you money without the effect of macro. Unfortunately, it starts to feel like 2007.



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