They suck. Not just because they play 2nd fiddle to [[MS]] and [[GS]]. They suck because they have massive exposure to mortgage paper, which they are not fully disclosing.
Plus anyway, they are “testing” the new Fed loan window. Back in the old days, any bank that went to the Fed window was sold, over and over again.
Just know this, the market is a place where emotions exaggerate the values of companies. Right now, as I sit here in my ridiculously expensive chair, I can tell you [[LEH]] is 10 bucks expensive.
On the long side, for a trade, I like Hong Kong, via [[EWH]]. And, thanks to the newly elected pro-Chinese President in Taiwan, I like [[EWT]].
On the short side, whenever I get bored, I short LEH. Plus, thus far, I’ve been buying both [[SKF]] and [[SRS]], hoping and praying to dear baby Jesus for a large gap lower in bank and commercial Re names.
Also, just in case inflation has not been destroyed by the Fed’s “tight monetary policy,” of only 75 bps cuts at a clip, I like gold, via [[DGP]] here.
If you’re short the market here, refrain from throwing good money after bad. If you want to add to down positions, wait until 3:00 to do such madness.If you enjoy the content at iBankCoin, please follow us on Twitter