Bronte Capital
The sometimes eccentric views of John Hempton
Friday, July 25, 2008
Dell and warranty issues
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Dell has a terrible reputation for customer performance – and that reputation has been the biggest driver of the stock price. Jeff Matthews...
The Dick Bove problem and an investment idea
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Dick Bove is an analyst I do not know. He is a regular talking head on Bubblevision . I won’t hold that against him. (If Dick Bove wan...
4 comments:
Thursday, July 24, 2008
Selling volatility in the sports betting market
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I have always been intrigued by what “risk control” really means in banking. I know a lot about banking – but the level of sophistication ...
6 comments:
Wednesday, July 23, 2008
CINFIN admits defeat on Fifth Third
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In my first post on Fifth Third I noted that Cincinnati Financial (a well run insurance company) had a massive holding in 53 during its gre...
It's the economy stupid
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If you have not seen Jon Stewart's take on the mortgage crisis watch it now by clicking here . I laughed myself silly.
Whoa – here come the Japanese
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Tokio Marine is a shockingly overcapitalised Japanese insurer. It consists of a vast excess of Japanese bonds and equities writing a fair ...
Tuesday, July 22, 2008
The Oops Slide
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Yesterday I noted that Ambac’s paid claims are running about 20 million a month – which is somewhat less than the 150 million a month that s...
Whose definition of subprime?
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There is no standard definition of subprime. I used to think of the world in terms of “Household International Subprime” and “Conseco Fina...
Changing tone on MBIA
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I have just sold my small holding of MBIA. I have been convinced - following a careful examination of documents issued for GICs - that this...
3 comments:
Sunday, July 20, 2008
Interest rate risk, credit risk and a comment on bank margins
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A theme of this blog is the interest rate risk and credit risk of American banks. As regular readers know I got the interest rate risk ver...
2 comments:
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