The stocks—major banks, regional banks and trust banks, as well as life insurers—look appealing, with many trading at or below tangible book value, a conservative measure of shareholder equity, and at single-digit price/earnings multiples. The stocks are even cheaper based on stated book value, which includes goodwill from acquisitions. Most
The Reformed Broker's, (Josh Brown), rant on why the protesters are protesting down at Occupy Wall Street. Don't think one could lay it out any better than this - it's short and sweet and gets right to the point:
In 2008, the American people were told that if they didn't bail out the banks, there way of life would never be the same. In no uncertain terms, our leaders told us anything short of saving these insolvent banks would result in a depression to the American public. We had to do it! At our
“Most people view it as a ragtag group looking for sex, drugs and rock ’n’ roll,” said one top hedge fund manager. “It’s not a middle-class uprising,” adds another veteran bank executive. “It’s fringe groups. It’s people who
Hat tip to The Business Insider for the
on Charlie Rose last night.
Why in the hell would Greece do that? Easy, they're tired of Roubini saying their country is falling apart and they won't be able to pay their debts. Other countries like Spain, Portugal and Ireland might chip in as well, to buy his firm. They too of course are tired of his glass half empty type projections and predictions. Moreover, the straw that broke the camel's back for Greece was when Roubini called their recent bailing out of creditors a giant Ponzi scheme. He also said they should leave the European Union and the Euro, an idea
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