Banks
Just a quick note from the road…The banks are the story of the day. Why can’t they make money with steepest yield curve in recent history? Borrow short, lend long. It’s not a complicated business. Oh, yeah. When your ROE is 25 when you’re levered 30:1, then you’re really screwed when that leverage ratio come down. Doesn’t matter how much you lower your loan loss reserves. Watch the XLF.
Everyone is talking about citi’s cash pile. Just a quick reminder, there is huge overhang in the stock, with the largest holder being the government and looking to sell. Don’t believe the hype.
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General | Yaron Sadan | 
January 19, 2011 9:48 am
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