Parsad Posted January 9, 2013 Share Posted January 9, 2013 Shake. If you'd like to make it a more sporting bet, we could go for the Trading Places wager and make it $1. One of my favorite movies of all time..."Hey, Nengue Mboko, it's me...Lionel Joseph from the Highly Celestial Africa Pavillion, man! Lionel Joseph...maboole, maboole, maboole, heh, maboole, maboole, maboole, heh!" I know all of the lines by heart! ;D Yes, let's do the $1 bet. Cheers! For those that have no idea what I'm talking about...Dan Akroyd & Eddie Murphy: Cheers! Link to comment Share on other sites More sharing options...
Kraven Posted January 9, 2013 Share Posted January 9, 2013 Shake. If you'd like to make it a more sporting bet, we could go for the Trading Places wager and make it $1. One of my favorite movies of all time..."Hey, Nengue Mboko, it's me...Lionel Joseph from the Highly Celestial Africa Pavillion, man! Lionel Joseph...maboole, maboole, maboole, heh, maboole, maboole, maboole, heh!" I know all of the lines by heart! ;D Yes, let's do the $1 bet. Cheers! Deal. Yes, one of my favorite all time movies. Eddie Murphy in his prime, a funny Dan Akyroyd, a young Jamie Lee Curtis, you can't go wrong. "Looking good, Billy Ray!" "Feeling good, Louis!" Link to comment Share on other sites More sharing options...
Parsad Posted January 9, 2013 Share Posted January 9, 2013 Shake. If you'd like to make it a more sporting bet, we could go for the Trading Places wager and make it $1. One of my favorite movies of all time..."Hey, Nengue Mboko, it's me...Lionel Joseph from the Highly Celestial Africa Pavillion, man! Lionel Joseph...maboole, maboole, maboole, heh, maboole, maboole, maboole, heh!" I know all of the lines by heart! ;D Yes, let's do the $1 bet. Cheers! Deal. Yes, one of my favorite all time movies. Eddie Murphy in his prime, a funny Dan Akyroyd, a young Jamie Lee Curtis, you can't go wrong. "Looking good, Billy Ray!" "Feeling good, Louis!" Yeah, those two comics were never better than in that movie. The social commentary in the writing, along with John Landis' direction, was great. Don Ameche and Ralph Bellamy were also fantastic as the Dukes. I still crack up every time I watch Eddie Murphy wearing a blazer in that Rittenhouse Square row house yelling "Who has been putting out their coals on my floor! WHO has been putting out their coals on my floor?!" Cheers! Link to comment Share on other sites More sharing options...
Kraven Posted January 9, 2013 Share Posted January 9, 2013 Shake. If you'd like to make it a more sporting bet, we could go for the Trading Places wager and make it $1. One of my favorite movies of all time..."Hey, Nengue Mboko, it's me...Lionel Joseph from the Highly Celestial Africa Pavillion, man! Lionel Joseph...maboole, maboole, maboole, heh, maboole, maboole, maboole, heh!" I know all of the lines by heart! ;D Yes, let's do the $1 bet. Cheers! Deal. Yes, one of my favorite all time movies. Eddie Murphy in his prime, a funny Dan Akyroyd, a young Jamie Lee Curtis, you can't go wrong. "Looking good, Billy Ray!" "Feeling good, Louis!" Yeah, those two comics were never better than in that movie. The social commentary in the writing, along with John Landis' direction, was great. Don Ameche and Ralph Bellamy were also fantastic as the Dukes. I still crack up every time I watch Eddie Murphy wearing a blazer in that Rittenhouse Square row house yelling "Who has been putting out their coals on my floor! WHO has been putting out their coals on my floor?!" Cheers! Completely agree. It's really a great movie. I had a friend in high school that when people would say something he'd echo it with a very deep "yeah!" like the guy in the prison. Link to comment Share on other sites More sharing options...
Liberty Posted January 9, 2013 Share Posted January 9, 2013 Ok, now I have to watch that movie again. See what you've done! 8) Link to comment Share on other sites More sharing options...
Parsad Posted January 9, 2013 Share Posted January 9, 2013 Ok, now I have to watch that movie again. See what you've done! 8) It's actually one of my Christmas movies..."It's a Wonderful Life", "Scrooge" w/Alistair Sim, "A Christmas Story" & "Trading Places". Those four I watch every year. Cheers! Link to comment Share on other sites More sharing options...
LC Posted January 9, 2013 Share Posted January 9, 2013 Yes, one of my favorite all time movies. Eddie Murphy in his prime, a funny Dan Akyroyd, a young Jamie Lee Curtis, you can't go wrong. "Looking good, Billy Ray!" "Feeling good, Louis!" The best part of being names Louis is getting to participate in this line with friends :) Link to comment Share on other sites More sharing options...
Kraven Posted January 9, 2013 Share Posted January 9, 2013 Yes, one of my favorite all time movies. Eddie Murphy in his prime, a funny Dan Akyroyd, a young Jamie Lee Curtis, you can't go wrong. "Looking good, Billy Ray!" "Feeling good, Louis!" The best part of being names Louis is getting to participate in this line with friends :) That's awesome. Link to comment Share on other sites More sharing options...
Kraven Posted January 9, 2013 Share Posted January 9, 2013 I can't disagree with this, but I think the key term is "measured". I suspect regulators want a clearer picture of what BAC is doing and who they are. There is still uncertainty there. I think what people on this board need to differentiate between is "uncertainty" as viewed through the eyes of an investor in common stock vs a regulator. There is no upside to a regulator being overly permissive. None whatsoever. A regulator has one of those jobs where to do everything right is ho hum, it's what's expected. There are no kudos for that. But make one mistake and you're villified and your career can be over just like that. So no upside, but unlimited downside. So when there are still billions subject to litigation, etc why not err on the side of being cautious? So I think there will be something, but very measured. The future is likely very bright though, its just unclear (as it always is) when the "future" begins. The regulators set out the CCAR framework with the goal of it being an objective, transparent way to measure bank risk and what capital returns would be allowed. A partial goal is to make various parties believe the Feds are on top of bank risk, and to do this, they have to seem scientific and precise. Using the CCAR methodology, it's fairly easy to do a back-of-the-napkin calculation from last year's results. For example, BAC passed the stress test last year, asking for no capital return. So a simple estimate for this year's stress test is they could ask to return the capital they generated since last year and again pass the stress test. If you take CCAR at face value and try to triangulate off their capital growth, decline in risk assets (and litigation, etc risk) then you get numbers for BAC that are really impressive. The question is whether there is a hidden subjective component which is what the regulators "want" them to do. And that's what I think you are pointing out, both that the regulators are naturally conservative, and the banks want to please regulators. So that's a real wildcard - is there behind-the-scenes pressure to be more conservative than their own CCAR framework states? And I grant you, based on some leaks from C, that might be the case. There is a framework, a methodology, but it's not so simple as plugging in numbers and spitting out an answer. Just like there's a speed limit posted on the road, but if there is inclement weather a lesser speed is required to be safe. The regulators will approve what they want to approve. I don't pretend to know the answer and I haven't claimed I do. My feeling is simply that with BAC the regulators will likely believe the posted speed limit isn't appropriate for the situation. But it's never so simple in any case as plugging in numbers into a formula. There are various issues that humans (regulators) need to consider that can't be quantified precisely. Link to comment Share on other sites More sharing options...
rogermunibond Posted January 9, 2013 Share Posted January 9, 2013 One of my favorite movies of all time..."Hey, Nengue Mboko, it's me...Lionel Joseph from the Highly Celestial Africa Pavillion Haile Selassie Pavilion as in ex emperor/dictator of Ethiopia. Although Highly Celestial is a pretty close guess, kind of like the Springsteen Blinded by the Light lyrics, wrapped up like a douche. It's from Persia! I was agent orange, special agent orange, that was me. Great movie! Link to comment Share on other sites More sharing options...
wescobrk Posted January 10, 2013 Share Posted January 10, 2013 Why does BAC have about 6x the average daily volume of Citi and almost double digits compared to JPM and Wells? The turnover in this stock is ridiculous. Link to comment Share on other sites More sharing options...
wescobrk Posted January 10, 2013 Share Posted January 10, 2013 Even adjusting for higher outstanding shares BAC trades more than twice C, WFC and JPM. It reminds of that Scottrade commercial of the guy at the auction. As soon as he buys it he expresses his desire to sell. Link to comment Share on other sites More sharing options...
xazp Posted January 10, 2013 Share Posted January 10, 2013 I understand that. But to use your "inclement weather" analogy - which I agree with - surely the inclement weather was a lot worse last year? That's why a simple estimate is this year's capital return = capital generated since last year. which basically assumes the inclement weather conditions are just as bad this year as last (even though, IMO, they're a lot better). There is a framework, a methodology, but it's not so simple as plugging in numbers and spitting out an answer. Just like there's a speed limit posted on the road, but if there is inclement weather a lesser speed is required to be safe. The regulators will approve what they want to approve. I don't pretend to know the answer and I haven't claimed I do. My feeling is simply that with BAC the regulators will likely believe the posted speed limit isn't appropriate for the situation. But it's never so simple in any case as plugging in numbers into a formula. There are various issues that humans (regulators) need to consider that can't be quantified precisely. Link to comment Share on other sites More sharing options...
ericd1 Posted January 10, 2013 Share Posted January 10, 2013 If I didn't know better I would say Eric sold a small part of his BAC position...LOL I added some ITM 2015 leaps today... :) (dumb money) Link to comment Share on other sites More sharing options...
Parsad Posted January 10, 2013 Share Posted January 10, 2013 One of my favorite movies of all time..."Hey, Nengue Mboko, it's me...Lionel Joseph from the Highly Celestial Africa Pavillion Haile Selassie Pavilion as in ex emperor/dictator of Ethiopia. Although Highly Celestial is a pretty close guess, kind of like the Springsteen Blinded by the Light lyrics, wrapped up like a douche. It's from Persia! I was agent orange, special agent orange, that was me. Great movie! Haha! Thanks Roger for clarifying that. All these years I thought it was "Highly Celestial". By the way, I only knew of the Manfred Mann's version of "Blinded By The Light" and had no idea The Boss sang it. And don't get me started on Iron Butterfly's "In-a-Gadda-Da-Vida" either. Cheers! Link to comment Share on other sites More sharing options...
berkshiremystery Posted January 10, 2013 Share Posted January 10, 2013 If I didn't know better I would say Eric sold a small part of his BAC position...LOL I added some ITM 2015 leaps today... :) (dumb money) Don't worry,... I would rather seriously start to worry if Paris Hilton might start to scare us,... and if she appears in a BofA debit card tv commercial, saying she just bought BAC on margin @ $20 in the year 201x something, because the price seems so hot ;D We are still some time away until the real freaks beyond Cramer have opinions. And if it comes down a little currently, who sleeps better than we here. ;) Link to comment Share on other sites More sharing options...
ERICOPOLY Posted January 10, 2013 Share Posted January 10, 2013 Wow, all of the gains for the entire year wiped out in one day! Link to comment Share on other sites More sharing options...
mankap Posted January 10, 2013 Share Posted January 10, 2013 This is from Seeking Alpha Wednesday, January 9, 3:43 PM This just in: The lawsuits against Bank of America (BAC -5.1%) are never going to stop. Despite the $10B+ settlement with Fannie Mae, U.S. Attorney Preet Bharara makes clear he will continue to aggressively go after BofA for selling fraudulent loans to the GSEs. Maybe this, not the downgrade, is what has the shares in a funk today. Link to comment Share on other sites More sharing options...
berkshiremystery Posted January 10, 2013 Share Posted January 10, 2013 Wow, all of the gains for the entire year wiped out in one day! That's life,... but mine too,... don't worry. We should rather take some sleeping pills to say calm,... and take some year long nap 8) I haven't sold anything. Bank of America Has Worst Drop Since June 2013-01-09 WSJ.com http://blogs.wsj.com/deals/2013/01/09/bank-of-america-has-worst-drop-since-june/?mod=MarketsMain Link to comment Share on other sites More sharing options...
valuecfa Posted January 10, 2013 Share Posted January 10, 2013 This is from Seeking Alpha Wednesday, January 9, 3:43 PM This just in: The lawsuits against Bank of America (BAC -5.1%) are never going to stop. Despite the $10B+ settlement with Fannie Mae, U.S. Attorney Preet Bharara makes clear he will continue to aggressively go after BofA for selling fraudulent loans to the GSEs. Maybe this, not the downgrade, is what has the shares in a funk today. looks like Charlotte Business Journal Blog (?) got the exclusive: http://www.bizjournals.com/charlotte/blog/bank_notes/2013/01/exclusive-after-10b-fannie-deal.html I doubt a reconfirmation of this single suit caused today's drop, but it's not really that important either way why it declined today. ~Long BAC & warrants. Haven't sold any yet. Link to comment Share on other sites More sharing options...
mankap Posted January 10, 2013 Share Posted January 10, 2013 Is the max. hit from the case filed by US attorney case $1B? Link to comment Share on other sites More sharing options...
ERICOPOLY Posted January 10, 2013 Share Posted January 10, 2013 Is the max. hit from the case filed by US attorney case $1B? The stock is discounted $99 billion below book value. Kind of puts things in perspective. Link to comment Share on other sites More sharing options...
valuecfa Posted January 10, 2013 Share Posted January 10, 2013 Is the max. hit from the case filed by US attorney case $1B? The stock is discounted $99 billion below book value. Kind of puts things in perspective. Yup. I think BAC is still under reserved. Yet the gap to that reserve figure is more than made up by the large gap in valuation and earnings power of the company. Link to comment Share on other sites More sharing options...
rkbabang Posted January 10, 2013 Share Posted January 10, 2013 One of my favorite movies of all time..."Hey, Nengue Mboko, it's me...Lionel Joseph from the Highly Celestial Africa Pavillion Haile Selassie Pavilion as in ex emperor/dictator of Ethiopia. Although Highly Celestial is a pretty close guess, kind of like the Springsteen Blinded by the Light lyrics, wrapped up like a douche. Two others I like are Jimmy Hendrix: "excuse me while I kiss this guy" and Brenda Lee "Later we'll have some f#@kin' pie and we'll do some caroling". Link to comment Share on other sites More sharing options...
mankap Posted January 10, 2013 Share Posted January 10, 2013 Eric That was my point too.If the max hit from US attorney case is $1B, market is overreacting. We will see on 17th where the 4Q book value is. Link to comment Share on other sites More sharing options...
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