http://www.ritholtz.com/blog/2007/03/buy-sell/ Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media Tue, 14 Feb 2012 07:16:03 +0000 hourly 1 http://wordpress.org/?v=3.0.5 http://www.ritholtz.com/blog/2007/03/buy-sell/comment-page-1/#comment-35615 Philippe Sat, 10 Mar 2007 10:33:26 +0000 http://thebigpicture.dev.wilder.ca/blog/2007/03/09/buy-sell/#comment-35615 It is time to address carefully the shares portfolio of banks worldwide and more particularly those, which are deposits/resources dependant. Inverted yield curve, which means higher short-term rates to finance lower long term, yields. Yen and Swiss franc carry trade, which may be disturbed by the Japanese fiscal year end repatriation (end of March) and the most likely interest increase of the Swiss central banks. A trend in profits, which was marked by less income from trading and more capital gains. M/A which may be scarcer for the mechanical reason that the largest companies have purchased their own shares, it has enhanced the earnings per shares and offer as well a good shield against take over (perverse effect of financial engineering). Some banks have been sanctioned unduly? by the lenders (bonds close to junks). It is time to address carefully the shares portfolio of banks worldwide and more particularly those, which are deposits/resources dependant.
Inverted yield curve, which means higher short-term rates to finance lower long term, yields.
Yen and Swiss franc carry trade, which may be disturbed by the Japanese fiscal year end repatriation (end of March) and the most likely interest increase of the Swiss central banks.
A trend in profits, which was marked by less income from trading and more capital gains.
M/A which may be scarcer for the mechanical reason that the largest companies have purchased their own shares, it has enhanced the earnings per shares and offer as well a good shield against take over (perverse effect of financial engineering).
Some banks have been sanctioned unduly? by the lenders (bonds close to junks).

]]> http://www.ritholtz.com/blog/2007/03/buy-sell/comment-page-1/#comment-35614 David Merkel Fri, 09 Mar 2007 18:39:15 +0000 http://thebigpicture.dev.wilder.ca/blog/2007/03/09/buy-sell/#comment-35614 I have a copy of that one from when it was originally published in a folder at home. What I'm trying to remember is whether that was originally printed around 1987 or 1998, or another time. I have a copy of that one from when it was originally published in a folder at home. What I’m trying to remember is whether that was originally printed around 1987 or 1998, or another time.

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