Once again, UBS has put its mouth where its money is.
I find it true to form that UBS, the holder of over 45 million shares of Masco stock (12.57%), has come out with what, under the circumstances, is to be expected - it reiterated its Masco rating as Neutral.
UBS seems unwilling or unable to realize or recognize Masco's pathetically weak financial condition and dismal prospects.
Of course, by allowing its Masco rating to remain what I consider "unsupportably optimistic" by ignoring the real facts of Masco's life, the value of UBS 45 million shares increased in market value by about $25 million. Not bad for a little "independent" support.
Of course, UBS is in an enormous amount of trouble as anyone who reads the financial press must know. And it had a head start. It is not exactly what can be thought of as a smart financial company. Big, yes. Smart, no. If there is such a thing as a smart financial company (other than, it appears, Wells Fargo).
A few years ago, an individual investor who posted here (screen name something like nycman), recounted how he had been sold a line of BS by his stock adviser at UBS, who convinced him to buy Masco based on UBS recommendation - when it was being run up. It ran right back down - and he lost money. He was very unhappy when he realized what had occurred - but the insiders who dumped huge amounts of stock near the highs were very,very happy with UBS.