Bronte Capital
The sometimes eccentric views of John Hempton
Friday, September 26, 2008
Just to rub salt into the wounds
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Here is the FDIC press release . The prefs along with common and most of the debt was wiped out. J To my many readers who disagreed with m...
Stuffed that one up
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FDIC confiscates WaMu. Now we find out what WaMu has not been telling us. http://www.cnbc.com/id/26893741 It had (a) enough liquidity for ne...
WM preferred versus common
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Washington Mutual Pref is wildly mispriced compared to the common. The common is behaving badly - but as if survival is a small possibility...
1 comment:
The Motley Fool puts me in my place!
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I don't own any WaMu common. I do own the pref - and there is a reasonable chance that will be wiped out. The Motley Fool knows what...
Washington mutual takeover news
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This sucks. I have a highly speculative bet on Washington Mutual preferred. It runs that I think a takeover is more than 30% likely. It m...
2 comments:
Wednesday, September 24, 2008
Jeff Matthews on Buffett and Paulson
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Jeff Matthews has nailed the essence of the Paulson plan and the Buffett buy in Goldman Sachs in one sentence: More seriously, we wonder th...
7 comments:
Comment deletion policy
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I have started getting a wave of comments promoting commercial services in debt consolidation, mortgage workout and the like. I delete these...
2 comments:
The FDIC and WaMu
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I have noted that the FDIC seems to take a lot to take over a bank . It took 42% non performing loans (versus about 4% and WaMu) for the F...
The oil price spike
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Lots of amazing things have happened in US capitalism in the last ten days. Monday's oil price spike has been lost in the noise. But i...
3 comments:
Tuesday, September 23, 2008
How much does it take to get the FDIC to take over a bank?
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Last Friday’s FDIC event – the takeover of Ameribank – has given me some thought. It’s a small bank – it has 8 branches, 112 million in ass...
7 comments:
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