B of A’s results showed more of the same – acceleration in credit losses and unsustainable earnings going forward. We’ve covered this substantially in recent week and the slides below speak for themselves so I won’t get into the details here too much.
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.
hey TPC, have you started looking for potential short possibilities? or should one wait a bit more to see if this reversal/correction starts picking up steam
I am still working within the idea that you can’t get confidently short until after the stress test results. There will be too much uncertainty until the results are out. I don’t expect this market to go down in a straight line. Most people are still very bullish. I’m in no rush….I’ll tell you what though – buying some Yen and Vix looks pretty interesting right now….
I might have guessed BAC sitting down -19% today on their “earnings” might have the tide turning.
Not to mention the ZH report today that the stress tests may not if fact show everyone is passing…
I read that earlier. VERY sketchy source. Of course, I’ve been saying that the banks are technically insolvent for almost a year. I didn’t need some right wing nut case website to “leaK” that news.
Thanks for your insights. I don’t know where else on the web you can get such straight talk and sound market reasoning. I’m sure I’m not the only one who appreciates your hard work. You’ve been all over this market. great work. Keep it up.
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