Credite Suisse talking about valuation. The stock went down from 20 to 6 not based on valuation, it did because of toxic assets. Now the stomach was washed. The stock was put under the book value. Come on guys. Swiss only knows how to make chocolate.
A couple big fins went neg for a bit premarket. Kinda looked like they were selling other fins to buy BAC down 1.65%. I think this is healthy for higher prices later. But I don't agree with the downgrade. They are not in any way making an argument fundamentally. Just technically. And we all know where we're going fundamentally, those tend to trump technicals 124.678% of the time.
neutral means what , equal to peers. We are fine with that. The whole banks will go up. We dont claim or need to see bac to go faster than the rest of the banks, anyway. Can Swiss claim the US banks will do worse? No. So mathematically what they say is downgrade is in fact no grade. All they are saying bac is no better than the herd. So be it. Fine with me.