Just got my hands on the new BBT proxy.
All you people that write how great this company is please explain the following.
Check out page 35 of the proxy material.
Their chosen peer group includes 14 banks and for the years of 12/00 through 12/05 they did not even beat the average return of the group.
$100 invested in the peer group for the five years was worth $3.79 more than the BBT investment that is if you can call the money in BBT an investment.
I mean really this was just the average which means they were not even in the top half of their peer group.
However, all you BBT supporters don't dispair as JA got his $981,000 bonus and 228,260 options.
1)As close as I can figure, Mason actually won, but not the game. Who would have expected them to go as far as they did? Hats off to Mason.
2)As far as the other issue, if BB&T had the same type of results as Mason (yr. vs yr.), the stock would be worth considerably more than $39. Clearly improvement needs to be made in this area, but how? Would part of the answer be for BBT to stop buying banks and begin growing existing business? This tact, if handled properly, would increase the stock price but would probably compromise BBT's relative size in the banking world. I would rather own stock in a company that had steady long-term growth than to own stock in a company that is so damn big that they have forgotten their purpose of stable growth and income for the stockholders.
Ha! The most important thing first.
1) Mason will win. Down by 5 at the half. Not bad!
2) To find how one is doing vs. themselves, they do linked quarter and YOY analysis. To see how they fare against their peers, the only fair analysis is vs. that of a peer group.
You posted the following "It must be torture to be so unhappy all the time. Envious too I see."
Just for the record I would like to know envious of what. Some old man who posts junk like this because he doesn't have a logical argument or just flat can't explain and debate his position. Will it ever be possible for you to actually add something factual to the conversation?
Oh, by the way in another few days it will be 7 years and 1/4 years since 12/31/1998 and the price of $40.31. Will this great company that you support be able to recover the stock price to at least this same value?
Yours for better investing,
Jimmy, for whom the glass is always half empty, complained in years past BB&T beat its peer group because they cherrypicked competitors (even tho SEC has to approve them) and now he jumps into the proxy envelope before anyone else to complain BB&T didn't beat the peer group one year out of the history of peer comparisons
The extremes little minds will go to continues to amaze. Cover your shorts, Jimmy and accept the fact your sister isn't going to be rehired by BB&T.
Fan (long for 40+ years and lovin' it)!
Fan & Stil-
You guys are smart...or at least that is what you tell us on this board.
So, you're smart enough to know that "past performance does not indicate future performance."
Heard that before?
So, stop talking about the past 40 years of you being "long BBT" and start living in the present.
This is a company that has, most recently, not outperformed its peer group. You know what that tells me?
That in a time when it is tough for all Banks to make money given the yield curve environment, BBT can't rise above and ultimately survive. There are plenty of Banks that have, and can survive in a time like this. This is not the time to be underperforming your peer group. Because that tells me that you have price depreciation, and a balance sheet that doesn't take to kind to an inverted yield curve.
I'll take my money and invest in those that can make a buck, even in the worst of times.
Yours for better investing, banking, and posting!
Knowing your history and that you defend the company regardless of the facts I decided to take a another look at the actual facts.
You might want to take a look at the proxy material for the calendar year 2003. It seems that it's not just one year out of the history of the peer group.
Yes, that is correct in the year 2003 BBT did indeed unperform the "average" of their chosen peer group.
Guess that means that for 2 of the last 3 years BBT has not performed as well as even the "average" of their peer group.
Glad you have been holding this stock for 40 plus years. However, the shares you owned on 12/31/1998 are now worth about a $1 less than they were worth then. How much is your return on that investment?
Your for better investing,
Great message subject and so appropiate. The results for BBT have been real predicable for the last several years.
Just who do you think picked their peer group?
Noticed that you did not dispute the results. Just for the record let's state the fact correctly and that is they did not even beat the average of their peer group.
JA and company got theirs so everybody should be happy.