iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
15,842 Blog Posts

I’m Shilling Quite a Bit Now; Long $DB into Hedonism

I’m awfully pragmatic when armed with facts. For all of my Trump shilling and anti globalist rancor over the past 6 months or so, I’m quick to adjust my portfolio to best conform to my standard of living — the mode by which I’m accustomed to.

Without delay and almost with a feverish hunger, upon learning that Le Pen had lost while winning, I set out to buy the biggest globalist banking plantation the world has ever known.

I bought Deutsch Bank.

Some might argue ‘it’s stupid’ to buy such a gap up or ‘wait for it to pull in.’

Fuck you. I’m not waiting for anything. I want to be long of the ECB in euro terms — because resistance is futile and cycling against a whirlwind is hard. It’s much easier to stop peddling and let the winds cast you into the sky and take you wherever it’s destined to go.

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Banks Rock Higher on Macron Optimism

Most stocks are higher today, but none as pervasive and ebullient as the banks. The working theory is, the EU will not be reduced to ash by Le Pen — because Macron will win. Ergo, the idea that the ECB will lose its mandate is far fetched. So, investors are buying up, seemingly undervalued, bank stocks — especially European.

DB is leading the fray, higher by 10%, followed by BBVA +8%, SAN +7%, ING +7%, BCS +5.5%, OPB +5.2% and UBS +4.8%.

If we were to cross reference some of today’s bank winners against p/b metrics, which is the most reliable form of fundamental analysis to quickly analyze a bank’s worth, the following stocks look cheap.

Typically, anything less than 1.00 p/b is considered ‘cheap.’

ticker/price to book ratio
DB 0.27
BCS 0.40
AEG 0.32
VOYA 0.40
RBS 0.43
BAC 0.70

JPM 1.09
GS 1.00

For some background on valuations, Exodus stores the historical valuations for p/b, p/s and PE. DB has never been cheaper.

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Head of Holcim Steps Down Due to Reports that Company Funded Terror Groups in Syria

About a year ago, a French foreign minister tipped off authorities about Swiss-French cement giant, Holcim-Lafarge, in regards to their activities in Syria. It was alleged, and then proven, that managers in their Syrian plant were ‘paying off’ terror groups in order to stay in business, continuing to supply groups in Syria with the much needed concrete that was being used to rebuild after the destruction of war demanded it.

Human rights groups, led by Sherpa and 11 former employees of Lafarge in Syria, filed suit to hold the world’s largest producer of concrete accountable.

“It appears from the investigation that the local company provided funds to third parties to work out arrangements with a number of these armed groups, including sanctioned parties, in order to maintain operations and ensure safe passage of employees and supplies to and from the plant. In hindsight, the measures required to continue operations at the plant were unacceptable…the investigation revealed significant errors of judgment that are inconsistent with the applicable code of conduct.”

The CEO of Holcim, Eric Olsen, announced he’d be stepping down today, not because he did anything wrong, but to bring ‘serenity’ to the wholesome Swiss-French company.

In a statement, Mr. Olsen said he was “driven by my conviction that it will contribute to addressing strong tensions that have recently arisen around the Syria case”.

“While I was absolutely not involved in, nor even aware of, any wrongdoing I believe my departure will contribute to bringing back serenity to a company that has been exposed for months on this case,” he added.

The Syrian factory in question was started in 2010, costing $680m. It stopped operating in 2014, after work in the region became untenable, due to the war.

In Holcim’s internal report on the matter, they said “very simply, chaos reigned and it was the task of local management to ensure that the intermediaries did whatever was necessary to secure its supply chain and the free movement of its employees.”

Holcim’s stock peaked in June of 2014 at 78.9 chf, right around the time they closed down the Syrian plant. Shares are now trading in the mid 50s.

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Tucker Carlson Says Opponents to the Proposed Southern Border Wall Are Scared

According to Tuck, they don’t have a logical reason to not want a wall. Ergo, logic mandates that we must have one. Unless you can make a credible argument for not having a protective barrier to protect American burgers against the hordes of very hungry savages from the south, you should expect to look pictures of a beautiful wall from outerspace — at some point in your life.

Republitards want cheap labor. The demotards want indoctrinated voters. The American people want fairness.

Guess who will win?

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C.R. Bard Acquired by Becton Dickinson for $24 Billion

The medical instruments sector should be strong today, after $BDX announced plans to acquire rival $BCR. The market cap for Beckton is about twice that of BCR. However, with the takeout price of $317, appreciably higher from Friday’s close, the company is taking on a lot here. Making a $24b acquisition with a market cap of $39b is aggressive and should lead to shares trading lower for the acquirer.

Becton Dickinson and Co (BDX) and C. R. Bard (BCR) announced a definitive agreement under which BD will acquire Bard for $317.00 per Bard common share in cash and stock, for a total consideration of $24 billion. The agreement has been unanimously approved by the Boards of Directors of both companies.

Under the terms of the transaction, Bard common shareholders will be entitled to receive approximately $222.93 in cash and 0.5077 shares of BD stock per Bard share, or a total of value of $317.00 per Bard common share based on BD’s closing price on April 21. At closing, Bard shareholders will own ~15% of the combined company.

BD expects to contribute ~$1.7 billion of available cash to fund the transaction, along with, subject to market conditions, approximately $10 billion of new debt and ~$4.5 billion of equity and equity linked securities issued to the market.

Bard shareholders will also receive $8 billion of BD common stock. BD has also obtained fully committed bridge financing. At closing, BD estimates the combined company will have pro forma leverage of ~4.7x and is committed to deleveraging to below 3.0x leverage within three years of closing.

BD expects to continue the suspension of its share repurchase program. BD is also committed to annual dividend increases while reinvesting in the business to continue to drive long-term growth.
Immediately accretive to BDX and expected to generate high single-digit accretion to Adjusted EPS in FY19

BD expects to create a third segment within the company — BD Interventional — where the Bard businesses will report both operationally and financially. BD is separately announcing the appointment of Tom Polen, currently executive vice president and president of the BD Medical Segment, as president of BD, effective immediately.

Other stocks that might move on this news, include: $SNN, $BSX, $BAX, $XRAY and $MTD.

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Thanks to Another Election Induced Squeeze, A Monster World Wide Rally is Underway

The CAC is higher by an astounding 4.6%, thanks to Macron advancing to the 2nd rd of the French Presidential elections. The fears of the EU ending, due to a Le Pen upset, is looking more and more like an extreme black swan event — considering Macron is up 25 points in the polls.

Globally, we’re cutting dicks off on an industrial scale — making transgenders out of short sellers who thought it was wise to bet against Le Fly and his algorithmic winshippery.

The DAX is higher by 3.1%, FTSE 1.9%, IBEX 3.3% and the greasy MIB by 4%.

The Euro is higher by 1.1% and the dollar is trouncing the yen by 1.05% — because that’s what the yen-carry trade risk on scenario mandates.

We’re seeing a massive move out of bonds into equities, with the US 10yr surging ahead by 7bps to 2.31%. NASDAQ futures are higher by 63 and I’d like to remind you that Exodus flagged OS last week and will be celebrated around the globe today, amongst the small group of fortunate people who have access to it, as an oracle.

Defensive stocks should be expected to lose, namely gold, REITs and utilities. Everything else is fair game to the upside. I do not anticipate wild gains in crude, since the commodity is only higher by 0.6%. I do, however, expect to see my portfolio of military-industrial complex stocks pacing the markets very tightly, as globalism celebrate a near death event.

Here are some notable movers in Europe, bank stocks.

DB +10.2%, BBVA +7.4%, ING +7%, SAN +6.4%, BCS +5.7%, CS +4.9%, RBS +2.8%

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Let’s Play Chelsea Clinton’s, Believe it or Not!

I came across this wonderful letter on Twitter a few minutes ago — a matter of happenstance actually. It is by none other than Chelsea Clinton, 5 years old, addressed to President Reagan. She didn’t like the way those Nazis looked in the movie, ‘Sound of Music’.

BELIEVE IT OR NOT.

Some cynics out there do not.

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It’s Over Len Pen’ers: Nomura Sees 99.9% Chance of Macron Win, Euro to Trade Higher

It was a nice concept, nationalism over globalism. It’s never gonna happen. And even if it did, we’d probably regret it after a few weeks — due to wanton mismanagement.

A nice smart boy from Nomura was interviewed by CNBC today and he said the market was pricing in an assured Macron win, a 99.9% probability of victory. He cited the fact that polls showed Macron ahead by 25% over Le Pen — mainly because the French people enjoy the endless streams of migrants entering their country — defecating in the streets and beating up weak white manlets.

POLLS ARE NEVER WRONG. Ergo, the Euro is going higher.

CAC futs are indicating +2.4%.

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Get Ready to Squeeze Shorts

Le Pen won and markets break out because of it. Notice a pattern? Big money doesn’t give a shit about elections — because the outcome is rigged. Seeing Trump turn from nationalist to globalist inside of 100 days should teach everyone to cease dreaming about direct rule by the people. Most people aren’t capable of managing their own households, how do you expect them to manage giant economies?

The shadowy deep government will preside over these elected lightening rods. Prove me wrong, faggot.

These stocks move tomorrow, because squeezing shorts and making them go bankrupt is fun.

Criteria in Exodus screener: greater than 500m cap, float less than 50m, greater than 10% of shares in float short, proprietary tech score 2.00+ on a scale from 1-5).

CMCM, SQ, CALM, MOMO, MTCH, BITA, TWOU, AMBA, SAGE

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Dow Futures Explode Higher; Euro Rages Versus the Dollar

I suspect this is more election fuckery. Perhaps because Le Pen didn’t smash Macron to pieces, investors are interpreting her round 1 win as meaningless — especially since all of the ‘polls’ show Macron easily beating Le Pen in a head to head match. I’d be careful about counting her our. She has some fire in her belly — declaring herself ‘the candidate of the people.’

Dow futures are higher by 200, Nasdaq by 50. Gold is getting clubbed by 1.2%, alongside the silverfags.

Forex markets are lit now, with the euro +1.45% v the dollar. That’s not a typo. The market is pricing in a Macron win, a jubilant victory for the EU and globalization.



Viva Le Union européenne

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