Below is an excerpt from our sell report for Wells Fargo. Many commentators have missed the real significance of the bank scandal, we think, which is about managerial negligence and a weak commitment to its fiduciary obligations to the shareholder owners of the bank. Wells Fargo’s ...
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One fact that complicates my previous argument about Britain’s fortunes, post-Brexit, is the comparative underperformance of the FTSE 250, which tracks mid-cap companies. Such mid-caps are typically less globally oriented, compared to the larger companies in the FTSE 100. As the WSJ ...
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The Wall Street Journal reports today on a partnership between the online consumer lending start-up Lending Club and 200 community banks around the country. The statistic in the article that struck me was this: Community banks—those with less than $10 billion in assets—made slightly more than ...
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Silicon Valley is trying to eat JP Morgan’s lunch. That’s the way JP Morgan CEO Jamie Dimon put it a few months ago. He was referring to the hot sector of the technology industry profiled recently in an opinion column by journalist Gillian Tett (Financial Times, “Upstarts ...
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Earlier this week the Financial Times tallied up how much Wall Street banks and their foreign rivals have have paid in fines since the financial crisis. The total is about $100 billion. In this chart the FT lists the top four banks in terms of fines paid: $100 billion is a lot of money. ...
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